EX-10.3


 Exhibit 10.3 

EXECUTION VERSION 

PRIORITY CONFIRMATION JOINDER 

Reference is made to the Intercreditor Agreement, dated as of May 11, 2015 (as amended, supplemented, amended and restated or otherwise
modified and in effect from time to time, the “Intercreditor Agreement”) between TORONTO DOMINION (TEXAS), LLC, as Priority Lien Agent for the Priority Lien Secured Parties (as defined therein), Morgan Stanley Senior Funding, Inc.,
as Second Lien Collateral Trustee for the Second Lien Secured Parties (as defined therein) and Wilmington Trust, National Association, as Third Lien Collateral Trustee for the Third Lien Secured Parties (as defined therein). 

Capitalized terms used but not otherwise defined herein shall have the meaning set forth in the Intercreditor Agreement. This Priority
Confirmation Joinder is being executed and delivered pursuant to Section 4.04(b) of the Intercreditor Agreement as a condition precedent to the debt for which the undersigned is acting as representative being entitled to
the rights and obligations of being Additional Second Lien Obligations under the Intercreditor Agreement. 
 1. Joinder. The
undersigned, Wilmington Trust, National Association, a national banking association, (the “New Representative”) as trustee (in such capacity, the “Second Lien Trustee”) under that certain Indenture, dated as of
September 7, 2016 (the “Second Lien Indenture”), by and among the New Representative, as Second Lien Trustee, W&T Offshore, Inc. and the guarantors party thereto hereby: 

(a) represents that the New Representative has been authorized to become a party to the Intercreditor Agreement on behalf of the Additional
Second Lien Secured Parties under the Additional Second Lien Debt Facility as Second Lien Representative under the Intercreditor Agreement for all purposes thereof on the terms set forth therein, and to be bound by the terms of the Intercreditor
Agreement as fully as if the undersigned had executed and delivered the Intercreditor Agreement as of the date thereof; and 
 (b) agrees
that its address for receiving notices pursuant to the Intercreditor Agreement shall be as follows: 
 Wilmington Trust, National
Association, as Second Lien Trustee 
 15950 North Dallas Parkway, Suite 550 

Dallas, Texas 75248 
 Attention:
W&T Offshore, Inc. Senior Second Lien PIK Toggle Notes Administrator 
 Facsimile: (888) 316-6238 

2. Priority Confirmation. 

The undersigned New Representative, on behalf of itself and each holder of Obligations in respect of the Series of Second Lien Debt for which
the undersigned is acting as Second Lien Representative hereby agrees, for the benefit of all Secured Parties and each future Secured Debt Representative, and as a condition to being treated as Secured Debt under the Intercreditor Agreement, that:

 (a) all Second Lien Obligations will be and are secured equally and ratably by all Second Liens at any time granted by W&T or any
other Grantor to secure any Obligations in respect of such Series of Second Lien Debt, whether or not upon property otherwise constituting Collateral for such Series of Second Lien Debt, and that all such Second Liens will be enforceable by the
Second Lien Collateral Trustee with respect to such Series of Second Lien Debt for the benefit of all Second Lien Secured Parties equally and ratably; 






 (b) the New Representative and each holder of Obligations in respect of the Series of Second Lien
Debt for which the undersigned is acting as Second Lien Representative are bound by the provisions of the Intercreditor Agreement, including the provisions relating to the ranking of Priority Liens, Second Liens and Third Liens and the order of
application of proceeds from enforcement of Priority Liens, Second Liens and Third Liens; and 
 (c) the New Representative and each holder
of Obligations in respect of the Series of Second Lien Debt for which the undersigned is acting as Second Lien Representative appoints the Second Lien Collateral Trustee and consents to the terms of the Intercreditor Agreement and the performance by
the Second Lien Collateral Trustee of, and directs the Second Lien Collateral Trustee to perform, its obligations under the Intercreditor Agreement and the Second Lien Collateral Trust Agreement, together with all such powers as are reasonably
incidental thereto.
 3. Full Force and Effect of Intercreditor Agreement. Except as expressly supplemented hereby, the
Intercreditor Agreement shall remain in full force and effect. 
 4. Governing Law and Miscellaneous Provisions. The provisions
of Article IX of the Intercreditor Agreement will apply with like effect to this Priority Confirmation Joinder. 

5. Expenses. W&T agree to reimburse each Secured Debt Representative for its reasonable out of pocket expenses in connection
with this Priority Confirmation Joinder, including the reasonable fees, other charges and disbursements of counsel. 
 6. Concerning the
New Representative. Wilmington Trust, National Association is delivering this Priority Confirmation Joinder solely in its capacity as Second Lien Trustee under the Second Lien Indenture and shall be entitled to all of the rights, privileges
and immunities in the Second Lien Indenture as though fully set forth herein.






 IN WITNESS WHEREOF, the parties hereto have caused this Priority Confirmation Joinder to be
executed by their respective officers or representatives as of September 7th, 2016. 
  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Second Lien Trustee
		
	By:	 	 /s/ Shawn Goffinet

		
	Name:	 	Shawn Goffinet
		
	Title:	 	Assistant Vice President


 The Priority Lien Agent hereby acknowledges receipt of this Priority Confirmation Joinder: 

 

			
	TORONTO DOMINION (TEXAS) LLC,
	as Priority Lien Agent
		
	By:	 	 /s/ Martin T. Snyder

		
	Name:	 	Martin T. Snyder
		
	Title:	 	Vice President


 The Second Lien Collateral Trustee hereby acknowledges receipt of this Priority Confirmation Joinder and agrees to act
as Second Lien Collateral Trustee for the New Representative and the holders of the Obligations represented thereby: 
  

			
	MORGAN STANLEY SENIOR FUNDING, INC.,
	as Second Lien Collateral Trustee
		
	By:	 	 /s/ William Graham

		
	Name:	 	William Graham
		
	Title:	 	Authorized Signatory
	
	Acknowledged and Agreed to by:
	
	W&T Offshore, Inc., as Issuer
		
	By:	 	 /s/ John D. Gibbons

		
	Name:	 	John D. Gibbons
		
	Title:	 	Senior Vice President and Chief Financial Officer