Document:

Exhibit

Exhibit 10.2

VERTEX PHARMACEUTICALS INCORPORATED
50 NORTHERN AVENUE  BOSTON, MA  02210
TEL. 617.341.6100

March 28, 2019

Charles F. Wagner, Jr.
22 Quarry Road
Medfield, MA 02052

RE:    Change of Control Agreement

Dear Mr. Wagner:

You are a key member of the senior management team of Vertex Pharmaceuticals Incorporated (the “Company”).  As a result, the Company would like to provide you with the following “change of control” benefits to help ensure that if the Company becomes involved in a “change of control” transaction, there will be no distraction from your attention to the needs of the Company.

		
	I.
	Definitions.  For the purposes of this Change of Control Agreement (this “Agreement”), capitalized terms shall have the following meanings: 

		
	1.
	“Cause” shall mean:

		
	(a)
	your conviction of a crime involving moral turpitude; 

		
	(b)
	your willful refusal or failure to follow a lawful directive or instruction of the Company’s Board of Directors or the individual(s) to whom you report, provided that you receive prior written notice of the directive(s) or instruction(s) that you failed to follow, and provided further that the Company, in good faith, gives you 30 days to correct such failure and further provided that if you correct the failure(s), any termination of your employment on account of such failure shall not be treated for purposes of this Agreement  as a termination of employment for “Cause”; 

		
	(c)
	in carrying out your duties you commit (i) willful gross negligence, or (ii) willful gross misconduct, resulting in either case in material harm to the Company, unless such act, or failure to act, was believed by you, in good faith, to be in the best interests of the Company; or 

		
	(d)
	your violation of the Company’s policies made known to you regarding confidentiality, securities trading or inside information.

		
	2.
	“Change of Control” shall mean that:

		
	(a)
	any “person”  or “group” as such terms are used in Sections 13(d) and 14(d)(2) of the Securities Exchange Act of 1934 (the “Act”), becomes a beneficial owner, as such term is used in Rule 13d-3 promulgated under the Act, of securities of the Company representing more than 50% of the combined voting power of the outstanding securities of the Company having the right to vote in the election of directors; or

		
	(b)
	all or substantially all the business or assets of the Company are sold or disposed of, or the Company or a subsidiary of the Company combines with another company pursuant to a merger, 

consolidation, or other similar transaction, other than (i) a transaction solely for the purpose of reincorporating the Company or one of its subsidiaries in a different jurisdiction or recapitalizing or reclassifying the Company’s stock; or (ii) a merger or consolidation in which the shareholders of the Company immediately prior to such merger or consolidation continue to own at least a majority of the outstanding voting securities of the Company or the surviving entity immediately after the merger or consolidation.

		
	3.
	“Code” shall mean the Internal Revenue Code of 1986, as amended.

		
	4.
	“Disability” shall mean a disability as determined under the Company's long-term disability plan or program in effect at the time the disability first occurs, or if no such plan or program exists at the time of disability, then a “disability” as defined Section 22(e)(3) of the Code.

		
	5.
	“Good Reason” shall mean one of the following events has occurred without your consent:

		
	(a)
	You suffer a material reduction in the authorities, duties or job title and responsibilities associated with your position as Executive Vice President, Chief Financial Officer for the Company as of the date hereof; 

		
	(b)
	your annual base salary is decreased; 

		
	(c)
	the office to which you are assigned is relocated to a place 35 or more miles away; or

		
	(d)
	following a Change of Control, the Company’s successor fails to assume the Company’s rights and obligations under this Agreement;

provided that Good Reason shall not exist unless and until within 30 days after the event giving rise to Good Reason under (a), (b), (c) or (d) above has occurred, you deliver a written termination notice to the Company stating that an event giving rise to Good Reason has occurred and identifying with reasonable detail the event that you assert constitutes Good Reason under (a), (b), (c) or (d) above and the Company fails or refuses to cure or eliminate the event giving rise to Good Reason on or within 30 days after receiving your notice.  To avoid doubt, the termination of your employment will become effective at the close of business on the thirtieth day after the Company receives your termination notice, unless the Company cures or eliminates the event giving rise to Good Reason prior to such time.

		
	6.
	“Termination Date” shall mean the last day of your employment with the Company.

		
	I.
	Severance Benefits upon Change of Control.  If:

		
	(A)
	your employment is terminated by the Company (except for termination for Cause or due to a Disability or death) and the Termination Date is within 90 days prior to a Change of Control or within 12 months after a Change of Control; or 

		
	(B)
	you, of your own initiative, (i) terminate your employment for Good Reason (in accordance with the notice and cure provisions set forth in Section I.5 above) and (ii) the event giving rise to Good Reason occurs within 90 days prior to a Change of Control or within 12 months after a Change of Control;

then, you shall receive the following benefits:

		
	1.
	Severance Payment.  In exchange for your execution within 60 days of the Termination Date of a general release, in a form satisfactory to the Company, of all claims against the Company, its subsidiaries, and its and their officers, directors and representatives, that becomes enforceable and irrevocable within such 60-day period, the Company shall make a cash payment (the “Severance Payment”) to you in an amount equal to:

		
	(a)
	(i) your annual base salary (provided, however, that if you terminate your employment for Good Reason based on a reduction in your annual base salary, then the annual base salary to 

be used in calculating the Severance Payment shall be your annual base salary in effect immediately prior to such reduction in annual base salary) plus your target bonus under any bonus program applicable to you for the year in which the Termination Date occurs; plus 
    
		
	(b)
	a prorata portion of your target bonus for the portion of the year in which the Termination Date occurs under any bonus program applicable to you; plus

		
	(c)
	all other cash incentive compensation awards earned by you but not paid prior to the Termination Date; provided that, if a fiscal year has been completed and the incentive award for such fiscal year has not been determined, the incentive compensation for such completed fiscal year shall equal the target bonus for such fiscal year.  

Except with respect to any portion of the Severance Payment that is delayed as set forth in this paragraph, the Severance Payment shall be made in cash within ten days after the execution by you of the general release referred to above and expiration without revocation of any applicable revocation periods under such general release (or, if the Change of Control resulting in your becoming entitled to such benefits occurs after such execution and expiration, within ten days after the Change of Control), provided that, if the 60-day period during which the general  release is required to become effective and irrevocable begins in one calendar year and ends in another calendar year, the Severance Payment shall not be made before the first day of the second calendar year.  

If you are a “specified employee” (as defined below) on the Termination Date, the commencement of the delivery of any such payments that constitute nonqualified deferred compensation payable upon a “separation from service” (as defined below) will be delayed until the first business day that is more than six months after your Termination Date.  The determination of whether, and the extent to which, any of the payments to be made to you hereunder are nonqualified deferred compensation shall be made after the application of all applicable exclusions, including those set forth under Treasury Reg. § 1.409A-1(b)(9) and Treasury Reg. § 1.409A-1(a)(5).   For purposes of this Agreement, to the extent required to ensure compliance with Section 409A of the Code, all references to “termination of employment” and correlative phrases shall be construed to require a “separation from service” (as defined in Treasury Reg. §1.409A-1(h) after giving effect to the presumptions contained therein), and the term “specified employee” means an individual determined by the Company to be a specified employee under Treasury Reg. §1.409A-1(i).  Each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments. Your right to payment or reimbursement for any expenses hereunder that would constitute nonqualified deferred compensation subject to Section 409A will be subject to the following additional rules: (i) the amount of expenses eligible for payment or reimbursement during any calendar year shall not affect the expenses eligible for payment or reimbursement in any other calendar year, (ii) payment or reimbursement shall be made not later than December 31 of the calendar year following the calendar year in which the expense or payment was incurred, and (iii) the right to payment or reimbursement shall not be subject to liquidation or exchange for any other benefit.

		
	2.
	Accelerated Vesting. 

		
	(a)
	On the Termination Date, stock options for the purchase of the Company’s securities held by you as of the Termination Date and not then exercisable shall immediately become exercisable in full.  The options to which this accelerated vesting applies shall remain exercisable until the earlier of (a) the end of the 90-day period immediately following the later of (i) the Termination Date or (ii) the date of the Change of Control and (b) the date the stock option(s) would otherwise expire; and

		
	(b)
	On the Termination Date, each outstanding restricted stock unit grant shall be accelerated and the Shares shall be delivered to you within two business days (subject to (i) your making satisfactory arrangements with the Company providing for the payment to the Company of all required withholding taxes and (ii) with the number of shares subject to the restricted stock unit grants that contain performance criteria vesting at target or based on earned shares as set forth in the applicable restricted stock grant).  1-year financial performance stock unit awards vest as to target shares until the initial vesting date and based on earned performance shares thereafter.  3-year non-financial performance stock unit awards vest as to target shares.  

Notwithstanding anything to the contrary in this Agreement, the terms of any option agreement or restricted stock unit agreement shall govern the acceleration, if any, of vesting or lapsing of the Company’s repurchase rights and period of exercisability of such awards, as applicable, except to the extent that the terms of this Agreement are more favorable to you.

		
	3.
	Continued Insurance Coverage.  If COBRA coverage is elected by you, the Company shall pay the cost of insurance continuation premiums on your behalf (whether or not covered by COBRA) to continue standard medical, dental and life insurance coverage for you (or the cash equivalent of same if you are ineligible for continued coverage) until the earlier of (i) the date 12 months after the Termination Date or (ii) the date you begin receiving substantially equivalent coverage and benefits through a subsequent employer.   

		
	4.
	No Mitigation.  You shall not be required to mitigate the amount of the Severance Payment or any other benefit provided under this Agreement by seeking other employment or otherwise, nor shall the amount of any payment or benefit provided for in this Agreement be reduced (except as provided in Article II Section 3(ii)) by any compensation earned by you as the result of other employment, by retirement benefits, or be offset against any amount claimed to be owed by you to the Company or otherwise (except for any required withholding taxes); provided, that if the Company makes any other severance payments to you under any other program or agreement, such amounts shall be offset against the payments the Company is obligated to make pursuant to this Agreement.

		
	II.
	Miscellaneous. 

		
	1.
	Employee’s Obligations.  Upon the termination of employment, you shall promptly deliver to the Company all property of the Company and all material documents, statistics, account records, programs and other similar tangible items which may by in your possession or under your control and which relate in a material way to the business or affairs of the Company or its subsidiaries, and no copies of any such documents or any part thereof shall be retained by you. 

		
	2.
	Entire Agreement.  This Agreement, the “Employment Agreement” and the “Employee Non-Disclosure, Non-Competition & Intellectual Property Assignment Agreement” executed by you covers the entire understanding of the parties as to the subject matter hereof, superseding all prior understandings and agreements related hereto.  No modification or amendment of the terms and conditions of this Agreement shall be effective unless in writing and signed by the parties or their respective duly authorized agents, provided, however, that the Company may, without your consent, unilaterally adopt amendments that may be required so that this Agreement continues to comply with applicable law or regulation, including without limitation Section 409A of the Code, provided such amendments do not adversely affect the benefits to be provided to you under Section II of this Agreement.  In no event shall the Company have any liability relating to the failure or alleged failure of any payment or benefit under this Agreement to comply with or be exempt from, the requirements of Section 409A.

		
	3.
	Governing Law.  This Agreement shall be governed by the laws of The Commonwealth of Massachusetts, as applied to contracts entered into and performed entirely in Massachusetts by Massachusetts residents.  

		
	4.
	Successors and Assigns.  This Agreement may be assigned by the Company upon a sale, transfer or reorganization of the Company.  Upon a Change of Control, the Company shall require the successor to assume the Company’s rights and obligations under this Agreement.  The Company’s failure to do so shall constitute Good Reason and a material breach of this Agreement.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their successors, permitted assigns, legal representatives and heirs.  

Kindly indicate your acceptance of the foregoing by signing and dating this Agreement as noted below, and returning one fully executed original to my attention.

Very truly yours,

Vertex Pharmaceuticals Incorporated

By: /s/ Michael Parini                        
Name: Michael Parini
Title:   Executive Vice President, Chief Legal and Administrative Officer

ACCEPTED AND AGREED:

/s/ Charles F. Wagner, Jr.
    

Charles F. Wagner, Jr.Exhibit

EXHIBIT 10.1

Execution Version

First Amendment to
Second Amended and Restated Credit Agreement
This First Amendment to Second Amended and Restated Credit Agreement (this “First Amendment”), dated as of April 26, 2019 (the “First Amendment Effective Date”), is among Centennial Resource Production, LLC, a Delaware limited liability company (the “Borrower”); each of the undersigned guarantors (the “Guarantors”, and together with the Borrower, the “Credit Parties”); each of the Lenders party hereto; and JPMorgan Chase Bank, N.A., as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative Agent”).
R E C I T A L S:
A.    The Borrower, the Administrative Agent and the Lenders are parties to that certain Second Amended and Restated Credit Agreement dated as of May 4, 2018 (as amended, restated, amended and restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”), pursuant to which the Lenders have, subject to the terms and conditions set forth therein, made certain credit available to and on behalf of the Borrower.
B.    The parties hereto desire to enter into this First Amendment to (i) evidence the increase of the Borrowing Base from $1,000,000,000 to $1,200,000,000, as set forth in Section 3 hereof, (ii) reflect that there are no changes to the Aggregate Elected Commitment Amounts from $800,000,000 and (iii) amend the Credit Agreement as set forth herein, in each case upon the terms and conditions set forth herein and in each case to be effective as of the First Amendment Effective Date.
NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
Section 1.Defined Terms.  Each capitalized term which is defined in the Credit Agreement, but which is not defined in this First Amendment, shall have the meaning ascribed such term in the Credit Agreement, as amended by this First Amendment.  Unless otherwise indicated, all section references in this First Amendment refer to sections of the Credit Agreement.
Section 2.Amendments.  In reliance on the representations, warranties, covenants and agreements contained in this First Amendment, and subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, the Credit Agreement shall be amended effective as of the First Amendment Effective Date in the manner provided in this Section 2.
2.1 Additional Definitions.  Section 1.02 of the Credit Agreement is hereby amended to add thereto in alphabetical order the following definitions which shall read in full as follows:
“Applicable Period” has the meaning assigned to such term in the definition of “Applicable Margin” contained herein.
“First Amendment” means that certain First Amendment to Second Amended and Restated Credit Agreement dated as of April 26, 2019, among the Borrower, the Guarantors party thereto, the Administrative Agent and the Lenders party thereto.
“First Amendment Effective Date” means April 26, 2019.
“Leverage Event Period” means any period (a) commencing with the date of delivery of financial statements and a compliance certificate pursuant to Section 8.01(a), (b) or (c), as 

applicable, demonstrating that the Parent’s ratio of (i) Total Funded Debt as of the last day of the most recently ended Rolling Period to (ii) EBITDAX for such Rolling Period is greater than 3.00 to 1.00 and (b) ending with the first date of delivery of financial statements and a compliance certificate with respect to a subsequent fiscal period pursuant to Section 8.01(a), (b) or (c), as applicable, demonstrating that the Parent’s ratio of (i) Total Funded Debt as of the last day of the most recently ended Rolling Period to (ii) EBITDAX for such Rolling Period is less than or equal to 3.00 to 1.00.  Notwithstanding anything to the contrary contained herein, the period from the First Amendment Effective Date through the date on which financial statements and a compliance certificate are delivered pursuant to Section 8.01(b) and (c) with respect to the Rolling Period ending March 31, 2019 is not a Leverage Event Period.
2.2 Amended and Restated Definitions.  The following definitions contained in Section 1.02 of the Credit Agreement are hereby amended and restated in their entirety to read in full as follows:
“Applicable Margin” means for any day, with respect to any ABR Loan or Eurodollar Loan, or with respect to the Commitment Fee Rate, as the case may be, 
(a) at any time other than during a Leverage Event Period, the rate per annum set forth in the Borrowing Base Utilization Grid below based upon the Borrowing Base Utilization Percentage then in effect:
	
						
	Borrowing Base Utilization Grid

	Borrowing Base Utilization Percentage
	< 25%
	> 25% < 50%
	> 50% < 75%
	> 75% < 90%
	> 90%

	Eurodollar Loans
	1.250%
	1.500%
	1.750%
	2.000%
	2.250%

	ABR Loans
	0.250%
	0.500%
	0.750%
	1.000%
	1.250%

	 Commitment Fee Rate
	0.375%
	0. 375%
	0.500%
	0.500%
	0.500%

and (b) at any time during a Leverage Event Period, the rate per annum set forth in the Leverage Event Period Borrowing Base Utilization Grid below based upon the Borrowing Base Utilization Percentage then in effect:
	
	
	Leverage Event Period Borrowing Base Utilization Grid

	
						
	Borrowing Base Utilization Percentage
	< 25%
	> 25% < 50%
	> 50% < 75%
	> 75% < 90%
	> 90%

	Eurodollar Loans
	1.500%
	1.750%
	2.000%
	2.250%
	2.500%

	ABR Loans
	0.500%
	0.750%
	1.000%
	1.250%
	1.500%

	Commitment Fee Rate
	0.375%
	0. 375%
	0.500%
	0.500%
	0.500%

At all times, each change in the Applicable Margin resulting from a change in the Borrowing Base Utilization Percentage shall apply during the period commencing on the effective date of such change and ending on the date immediately preceding the effective date of the next such change.
Each change in the Applicable Margin resulting from the commencement or termination of a Leverage Event Period shall become effective on and after the date on which financial statements and a compliance certificate, as applicable, are delivered to the Administrative Agent pursuant to Section 8.01(a), (b), or (c) and shall remain in effect until the next change to be effected pursuant to this paragraph; provided, however, that if at any time the Borrower fails to deliver any financial statements or a compliance certificate required by Section 8.01(a), 

(b), or (c), as applicable, then, for the period commencing on the date of such Default and ending on the date on which such Default is cured, the “Applicable Margin” means the applicable rate per annum set forth on the Leverage Event Period Borrowing Base Utilization Grid set forth in clause (b) of this definition based on the then current Borrowing Base Utilization Percentage.  In the event that any financial statement or compliance certificate delivered pursuant to Section 8.01(a), (b), or (c) is shown to be inaccurate (regardless of whether this Agreement or the Commitments are in effect when such inaccuracy is discovered), and such inaccuracy, if corrected, would have led to the application of a higher Applicable Margin for any period (an “Applicable Period”) than the Applicable Margin applied for such Applicable Period, and only in such case, then the Borrower shall immediately (a) deliver to the Administrative Agent a corrected compliance certificate for such Applicable Period, (b) determine the Applicable Margin for such Applicable Period based upon the corrected compliance certificate, and (c) immediately pay to the Administrative Agent the accrued additional interest owing as a result of such increased Applicable Margin for such Applicable Period, which payment shall be promptly applied by the Administrative Agent in accordance with Section 4.01.  The preceding sentence is in addition to rights of the Administrative Agent and Lenders with respect to Section 3.02(c) and Section 10.02 and other of their respective rights under this Agreement.
 “Loan Documents” means this Agreement, the First Amendment, the Notes, the Letter of Credit Agreements, the Letters of Credit, the Fee Letter and the Security Instruments. 
2.3 Amendments to Article I of the Credit Agreement.  Article I of the Credit Agreement is hereby amended by adding new Sections 1.06 and 1.07 immediately after Section 1.05 therein to read in full as follows:
Section 1.06    Rates.  The Administrative Agent does not warrant or accept responsibility for, and shall not have any liability with respect to, the administration, submission or any other matter related to the rates in the definition of “LIBO Rate”.
Section 1.07    Divisions.  For all purposes under the Loan Documents, in connection with any division or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the holders of its Equity Interests at such time.
2.4 Amendment to Section 9.11 of the Credit Agreement.  Section 9.11 of the Credit Agreement is hereby amended by inserting the words “divide or” immediately before each reference to the word “merge” therein.
2.5 Amendments to Section 12.02 of the Credit Agreement.  
(a)The parenthetical in clause (iv) of Section 12.02(b) of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows:
         (excluding mandatory prepayments pursuant to Section 3.04(c) to the extent that the event triggering such mandatory prepayment has not yet occurred)
(b)Section 12.02(b) of the Credit Agreement is hereby amended by deleting the reference to “Section 3.04(c),” in clause (vi) therein.
Section 3. Borrowing Base and Aggregate Elected Commitment Amounts.  Subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, the Lenders hereby agree that for the period from and 

including the First Amendment Effective Date, but until the next Scheduled Redetermination Effective Date, the next Interim Redetermination Date or the next adjustment to the Borrowing Base under Section 2.07(e) of the Credit Agreement, Section 8.13(c) or Section 9.12 of the Credit Agreement, whichever occurs first, the amount of the Borrowing Base shall be increased from $1,000,000,000 to $1,200,000,000, which redetermination of the Borrowing Base shall constitute the April 1, 2019 Scheduled Redetermination of the Borrowing Base for purposes of Section 2.07(b) of the Credit Agreement.  This Section 3 constitutes the New Borrowing Base Notice for the April 1, 2019 Scheduled Redetermination of the Borrowing Base for purposes of Section 2.07(d) of the Credit Agreement.  The Borrower and Lenders hereby agree that the Aggregate Elected Commitment Amounts shall remain at $800,000,000 until adjusted pursuant to the terms of the Credit Agreement. 
Section 4. Conditions Precedent.  The effectiveness of this First Amendment is subject to the following:
4.1 Counterparts. The Administrative Agent shall have received counterparts of this First Amendment from the Credit Parties and each of the Lenders.
4.2 Fees and Expenses.  The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the First Amendment Effective Date.
4.3 Other.  The Administrative Agent shall have received such other documents as the Administrative Agent or special counsel to the Administrative Agent may reasonably request.
Section 5. Miscellaneous.
5.1 Confirmation and Effect.  The provisions of the Credit Agreement (as amended by this First Amendment) shall remain in full force and effect in accordance with its terms following the effectiveness of this First Amendment, and this First Amendment shall not constitute a waiver of any provision of the Credit Agreement or any other Loan Document, except as expressly provided for herein.  Each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof’, “herein”, or words of like import shall mean and be a reference to the Credit Agreement as amended hereby, and each reference to the Credit Agreement in any other document, instrument or agreement executed and/or delivered in connection with the Credit Agreement shall mean and be a reference to the Credit Agreement as amended hereby.
5.2 Ratification and Affirmation of Credit Parties.  Each of the Credit Parties hereby expressly (a) acknowledges the terms of this First Amendment, (b) ratifies and affirms its obligations under the Credit Agreement, the Guaranty Agreement and the other Loan Documents to which it is a party, (c) acknowledges, renews and extends its continued liability under the Credit Agreement, the Guaranty Agreement and the other Loan Documents to which it is a party, (d) agrees that its guarantee under the Guaranty Agreement and the other Loan Documents to which it is a party remains in full force and effect with respect to the Indebtedness as amended hereby, (e) represents and warrants to the Lenders and the Administrative Agent that each representation and warranty of such Credit Party contained in the Credit Agreement, the Guaranty Agreement and the other Loan Documents to which it is a party is true and correct in all material respects as of the date hereof and after giving effect to this First Amendment except (i) to the extent any such representations and warranties are expressly limited to an earlier date, in which case, on and as of the date hereof, such representations and warranties shall continue to be true and correct as of such specified earlier date, and (ii) to the extent that any such representation and warranty is expressly qualified by materiality or by reference to Material Adverse Effect, such representation and warranty (as so qualified) shall continue to be true and correct in all respects, (f) represents and warrants to the Lenders and the Administrative Agent that the execution, delivery and performance by such Credit Party of this First Amendment are within such Credit Party’s corporate, limited partnership or limited liability company powers (as applicable), have been duly authorized by all necessary action and that this First Amendment constitutes the valid and binding obligation of such Credit Party enforceable in accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditor’s rights generally, and (g) represents and 

warrants to the Lenders and the Administrative Agent that, after giving effect to this First Amendment, no Borrowing Base Deficiency, Default or Event of Default exists.
5.3 Counterparts.  This First Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of this First Amendment by facsimile or electronic (e.g. pdf) transmission shall be effective as delivery of a manually executed original counterpart hereof.
5.4 No Oral Agreement.  This written First Amendment, the Credit Agreement and the other Loan Documents executed in connection herewith and therewith represent the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous, or unwritten oral agreements of the parties.  There are no subsequent oral agreements between the parties that modify the agreements of the parties in the Credit Agreement and the other Loan Documents.
5.5 Governing Law.  This First Amendment (including, but not limited to, the validity and enforceability hereof) shall be governed by, and construed in accordance with, the laws of the State of New York.
5.6 Payment of Expenses.  The Borrower agrees to pay or reimburse the Administrative Agent for all of its reasonable out-of-pocket costs and expenses incurred in connection with this First Amendment, any other documents prepared in connection herewith and the transactions contemplated hereby, including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent.
5.7 Severability.  Any provision of this First Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
5.8 Successors and Assigns.  This First Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 

 [Signature Pages Follow.]

The parties hereto have caused this First Amendment to be duly executed as of the day and year first above written.
	
					
	BORROWER:
	 
	CENTENNIAL RESOURCE PRODUCTION, LLC, a Delaware limited liability company

	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ George S. Glyphis
	 

	 
	 
	 
	George S. Glyphis
	 

	 
	 
	 
	Vice President and Chief Financial Officer

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	GUARANTORS:
	 
	ATLANTIC EXPLORATION, LLC a Delaware limited liability company

	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ George S. Glyphis
	 

	 
	 
	 
	George S. Glyphis
	 

	 
	 
	 
	Vice President and Chief Financial Officer

	 
	 
	 
	 
	 

	 
	 
	CENTENNIAL RESOURCE MANAGEMENT, LLC, a Delaware limited liability company

	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ George S. Glyphis
	 

	 
	 
	 
	George S. Glyphis
	 

	 
	 
	 
	Vice President and Chief Financial Officer

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	 
	 
	JPMORGAN CHASE BANK, N.A., as Administrative Agent and a Lender

	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ David Morris
	 

	 
	 
	Name:
	David Morris
	 

	 
	 
	Title:
	Authorized Officer

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	 
	 
	WELLS FARGO BANK, N.A., as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Jonathan Herrick    
	 

	 
	 
	Name:
	Jonathan Herrick
	 

	 
	 
	Title:
	Director

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	 
	 
	COMERICA BANK, as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Mark Fuqua
	 

	 
	 
	Name:
	Mark Fuqua
	 

	 
	 
	Title:
	Executive Vice President

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	 
	 
	BMO HARRIS BANK, N.A., as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ James V. Ducote
	 

	 
	 
	Name:
	James V. Ducote
	 

	 
	 
	Title:
	Managing Director

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	 
	 
	CANADIAN IMPERIAL BANK OF COMMERCE, NEW YORK BRANCH, as a Lender

	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Megan Larson
	 

	 
	 
	Name:
	Megan Larson
	 

	 
	 
	Title:
	Authorized Signatory

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Donovan C. Broussard
	 

	 
	 
	Name:
	Donovan C. Broussard
	 

	 
	 
	Title:
	Authorized Signatory

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	 
	 
	U.S. BANK NATIONAL ASSOCIATION, as a Lender

	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Benjamin Leonard
	 

	 
	 
	Name:
	Benjamin Leonard
	 

	 
	 
	Title:
	Vice President

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	 
	 
	BRANCH BANKING AND TRUST COMPANY, as a Lender

	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Ryan K. Michael
	 

	 
	 
	Name:
	Ryan K. Michael
	 

	 
	 
	Title:
	Senior Vice President

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	 
	 
	ROYAL BANK OF CANADA, as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Kristan Spivey
	 

	 
	 
	Name:
	Kristan Spivey
	 

	 
	 
	Title:
	Authorized Signatory

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	 
	 
	CITIBANK, N.A., as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Jeff Ard
	 

	 
	 
	Name:
	Jeff Ard
	 

	 
	 
	Title:
	Vice President

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	 
	 
	FIFTH THIRD BANK, as a Lender

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Thomas Kleiderer
	 

	 
	 
	Name:
	Thomas Kleiderer
	 

	 
	 
	Title:
	Director

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	 
	 
	CAPITAL ONE, NATIONAL ASSOCIATION, as a Lender

	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Wes Fontana
	 

	 
	 
	Name:
	Wes Fontana
	 

	 
	 
	Title:
	Managing Director

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	 
	 
	KEYBANK, NATIONAL ASSOCIATION, as a Lender

	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ David M. Bornstein
	 

	 
	 
	Name:
	David M. Bornstein
	 

	 
	 
	Title:
	Senior Vice President

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

	
					
	 
	 
	PNC BANK, NATIONAL ASSOCIATION, as a Lender

	 
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Sandra Salazar
	 

	 
	 
	Name:
	Sandra Salazar
	 

	 
	 
	Title:
	Managing Director

	 
	 
	 
	 
	 

Signature Page to First Amendment to
Second Amended and Restated Credit Agreement
Centennial Resource Production, LLC

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