Document:

Exhibit 10.1

 

Confidential Portions Redacted
and Filed with the Commission pursuant to 17 CFR 200.83.

“~~~” Symbolizes Language Omitted
Pursuant to an Application For Confidential Treatment.

 

EXXONMOBIL
OIL CORPORATION — CRUDE CONTRACT

 

	
  AGREEMENT

  	
   

  	
  TODAY’S

  	
   

  
	
  DATE:

  	
   

  	
  08/19/2009

  	
   

  	
  DATE:

  	
  10/05/2010

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TO:

  	
  BERRY PETROLEUM CO

  	
  FROM:

  	
   

  	
  EXXONMOBIL OIL CORPORATION

  
	
   

  	
  RON CROSS (303.999.4141)

  	
   

  	
   

  	
  ~~~

  	
   

  
	
   

  	
  3039994141   (FAX)

  	
   

  	
   

  	
   

  	
  ~~~    (FAX)

  
							

 

THIS FORMALIZES OUR AGREEMENT TO AMEND
THE REFERENCED AGREEMENT, WHICH HAD AN EFFECTIVE DATE OF 08/19/2009 ENTERED
INTO BETWEEN EXXONMOBIL OIL CORPORATION, HEREINAFTER KNOWN AS “EXXONMOBIL”, AND
BERRY PETROLEUM CO (HEREINAFTER CALLED “CUSTOMER”), AS SUCH AGREEMENT MAY HAVE
BEEN AMENDED THEREAFTER FROM TIME TO TIME.

 

	
  EXXONMOBIL

  	
   

  	
   

  
	
  CONTRACT:

  	
  BRRY1403TE

  	
  CUSTOMER

  
	
   

  	
  7017521

  	
  CONTRACT:

  

 

AMENDMENT INTENT:

PER BERRY PETROLEUM’S REQUEST, BELOW DATE OF
AMENDMENT ON CONTRACT IS BEING CHANGED TO 9/29/10 TO COINCIDE WITH DATE THAT
BERRY RECEIVED FORMAL BOARD APPROVAL.

PLEASE NOTE, HOWEVER, THAT DUE TO A RECENT
SYSTEM-WIDE SAP ISSUE, EXXONMOBIL’S EXECUTED DATE OF APPROVAL WILL APPEAR PAST
09/29/10.

************

************

AMENDMENT:    
09/29/10

INITIAL TERMS ARE EXTENDED THROUGH 11/30/2010.

NEW PRICING TERMS WILL BE EFFECTIVE DATE OF 12/01/2010
THRU NOVEMBER 30, 2011 AND 90-DAY EVERGREEN THEREAFTER. ALL OTHER TERMS AND CONDITIONS
REMAIN IN FULL FORCE AND EFFECT.

APPROVED BY ~~~.

************

************

************

CHANGING DELIVERY/LOCATION VERBAGE OF CONTRACT
TO READ AS FOLLOWS:

	
  A.

  	
   

  	
  SECTION 1:

  	
   

  	
  “INTO EXXONMOBIL SJV PIPELINE VIA EXXONMOBIL
  DUVALL VIA SHELL PIPELINE FROM BERRY CENTRAL LEASES.”

  
	
  B.

  	
   

  	
  SECTION 4:

  	
   

  	
  “INTO CONOCOPHILLIPS COMMON CARRIER PIPELINE
  LINE 100) FROM FORMAX LEASES.”

  
	
   

  	
   

  	
   

  	
   

  	
  ***

  
	
   

  	
   

  	
   

  	
   

  	
  NOTE:         “TOTAL
  CONTRACT VOLUME ......

  
	
   

  	
   

  	
   

  	
   

  	
  LIMITED TO 100% OF
  THE LEASE PRODUCTION AT BERRY CENTRAL, ...”

  

REQUESTED BY BERRY PETROLEUM (RON CROSS),
APPROVED BY ~~~  -   09/24/09.

************

************

 

EXXONMOBIL RECEIVES (BUYS) :

 

	
  CRUDE TYPE:

  	
  01)

  	
  SAN JOAQUIN VALLEY.

  
	
   

  	
  02)

  	
  SAN JOAQUIN VALLEY.

  
	
   

  	
  03)

  	
  SAN JOAQUIN VALLEY.

  

 

1

 

	
   

  	
  04)

  	
  SAN JOAQUIN VALLEY.

  
	
   

  
	
  VOLUME:

  	
  01)

  	
  4,900 BARRELS PER DAY

  
	
   

  	
  02)

  	
  2,000 BARRELS PER DAY

  
	
   

  	
  03)

  	
  3,300 BARRELS PER DAY

  
	
   

  	
  04)

  	
  2,000 BARRELS PER DAY

  
	
   

  	
   

  	
   

  
	
  PRICE:

  	
  EXXONMOBIL AGREES TO PAY BERRY PETROLEUM CO

  
	
   

  	
  01)

  	
  FORMULA NUMBER:  1000245510

  
	
   

  	
   

  	
  PRICE FOR CRUDE OIL SHALL BE THE AVERAGE OF
  CHEVRON/UNOCAL/EXXONMOBIL/ SHELL TRADING COMPANY PRICES POSTED FOR MIDWAY
  SUNSET CRUDE OIL DURING THE DELIVERY MONTH, 
  ~~~ $~~~ PER NET BARREL DIFFERENTIAL, ADJUSTED FOR ACTUAL GRAVITY
  DELIVERED BASED ON THE AVERAGE OF CHEVRON/UNOCAL/EXXONMOBIL/SHELL TRADING
  COMPANY GRAVITY SCALES. 

  
	
   

  	
   

  	
  DELIVERIES TO BE DEEMED EQUAL DAILY
  QUANTITES.

  
	
   

  	
   

  	
  **********

  
	
   

  	
   

  	
  **********

  
	
   

  	
   

  	
  DELIVERY
  VOLUME/LOCATION:       APPROXIMATELY 4.9
  KBD INTO EXXONMOBIL SJV PIPELINE VIA EXXONMOBIL DUVALL VIA SHELL PIPELINE FROM
  BERRY CENTRAL LEASES.

  
	
   

  	
   

  	
  **********

  
	
   

  	
   

  	
  **********

  
	
   

  	
   

  	
   

  
	
   

  	
  02)

  	
   

  	
  FORMULA NUMBER:
  1000245511

  
	
   

  	
   

  	
  PRICE FOR CRUDE OIL SHALL BE THE AVERAGE OF
  CHEVRON/UNOCAL/EXXONMOBIL/ SHELL TRADING COMPANY PRICES POSTED FOR MIDWAY
  SUNSET CRUDE OIL DURING THE DELIVERY MONTH, ~~~ $~~~ PER NET BARREL
  DIFFERENTIAL, ADJUSTED FOR ACTUAL GRAVITY DELIVERED BASED ON THE AVERAGE OF CHEVRON/UNOCAL/EXXONMOBIL/SHELL
  TRADING COMPANY GRAVITY SCALES.  DELIVERIES
  TO BE DEEMED EQUAL DAILY QUANTITES.

  
	
   

  	
   

  	
  **********

  
	
   

  	
   

  	
  **********

  
	
   

  	
   

  	
  DELIVERY
  VOLUME/LOCATION:                      APPROXIMATELY 2.0  KBD INTO
  PLAINS PIPELINE GATHERING LINE FROM ETHEL D.

  
	
   

  	
   

  	
  **********

  
	
   

  	
   

  	
  PLEASE NOTE:  INCLUDED IN THE ETHEL D LEASE PROJECTION IS
  THE BERRY 21Z LEASE WHICH IS TRUCKED INTO THE ETHEL D LEASE ~200 B/D
  CURRENTLY.

  
	
   

  	
   

  	
  **********

  
	
   

  	
   

  	
  **********

  
	
   

  	
   

  	
   

  
	
   

  	
  03)

  	
   

  	
  FORMULA
  NUMBER:  1000245512

  
	
   

  	
   

  	
  PRICE FOR CRUDE OIL SHALL BE THE AVERAGE OF
  CHEVRON/UNOCAL/EXXONMOBIL/ SHELL TRADING COMPANY PRICES POSTED FOR MIDWAY
  SUNSET CRUDE OIL DURING THE DELIVERY MONTH, ~~~ $~~~ PET NET BARREL
  DIFFERENTIAL.

  
	
   

  	
   

  	
  ADJUSTED FOR ACTUAL GRAVITY DELIVERED BASED
  ON THE AVERAGE OF CHEVRON/UNOCAL/EXXONMOBIL/SHELL TRADING COMPANY GRAVITY
  SCALES. 

  
	
   

  	
   

  	
  DELIVERIES TO BE DEEMED EQUAL DAILY
  QUANTITES.

  
						

 

2

 

	
   

  	
  **********

  
	
   

  	
  **********

  
	
   

  	
  DELIVERY
  VOLUME/LOCATION:       APPROXIMATELY 3.3
  KBD INTO PLAINS PIPELINE GATHERING LINE FROM FAIRFIELD LEASES.

  
	
   

  	
  **********

  
	
   

  	
  **********

  
	
   

  	
   

  
	
   

  	
  04)

  	
  FORMULA
  NUMBER:  1000245513

  
	
   

  	
  PRICE FOR CRUDE OIL SHALL BE THE AVERAGE OF
  CHEVRON/UNOCAL/EXXONMOBIL/ SHELL TRADING COMPANY PRICES POSTED FOR MIDWAY
  SUNSET CRUDE OIL DURING THE DELIVERY MONTH, 
  ~~~ $~~~ PER NET BARREL DIFFERENTIAL, ADJUSTED FOR ACTUAL GRAVITY DELIVERED
  BASED ON THE AVERAGE OF CHEVRON/UNOCAL/EXXONMOBIL/SHELL TRADING COMPANY
  GRAVITY SCALES.

  
	
   

  	
  DELIVERIES TO BE DEEMED EQUAL DAILY
  QUANTITES.

  
	
   

  	
  **********

  
	
   

  	
  **********

  
	
   

  	
  DELIVERY VOLUME/LOCATIONS:     APPROXIMATELY
  2.0 KBD INTO CONOCOPHILLIPS COMMON CARRIER PIPELINE (LINE 100) FROM FORMAX
  LEASES.

  
	
   

  	
  **********

  
	
   

  	
  **********

  
	
   

  	
  NOTE:

  	
  TOTAL CONTRACT VOLUME IS
  APPROXIMATELY 12, 200 BARRELS PER DAY 
  — LIMITED TO 100% OF THE LEASE PRODUCTION AT BERRY CENTRAL, ETHEL D,
  FORMAX, AND FAIRFIELD LEASES.

  
	
   

  	
   

  	
   

  
	
  +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

  
	
   

  	
  THE FOLLOWING ADDITIONAL
  PROVISIONS APPLY TO THE ENTIRETY OF THE CONTRACT:

  
	
   

  	
  1)

  	
  IN THE EVENT THE CRUDE OIL
  WILL BE EXPORTED FROM THE UNITED STATES, BUYER UNDERTAKES TO DETERMINE ANY
  EXPORT LICENSE REQUIREMENTS. TO OBTAIN ANY EXPORT LICENSE OR OTHER OFFICIAL
  AUTHORIZATIOINS, AND TO CARRY OUT ANY CUSTOMS FORMALITIES FOR THE EXPORT OF
  THE CRUDE OIL.

  
	
   

  	
  2)

  	
  MEASUREMENT AND TEST:   ALL CALIFORNIA CRUDE OIL PRODUCTION
  DELIVERED AND RECEIVED BY BOTH PARTIES SHALL NOT EXCEED 3% BS&W.

  
	
   

  	
  3)

  	
  THIS CONTRACT IS TO BE
  CONSIDERED PRIVATE AND CONFIDENTIAL BY BOTH PARTIES. RELEASE OF ANY OF THE
  TERMS OF THIS CONTRACT REQUIRES PRIOR WRITTEN AGREEMENT BY EXXONMOBIL OIL
  CORPORATION.

  
	
   

  	
  *************

  
	
   

  	
  *************

  
	
   

  	
  *************

  
	
   

  	
   

  
	
  DELIVERY:

  	
  01)

  	
  WEST COAST PIPELINE CO AT:
  DUVALL ROAD, CA

  
	
   

  	
  02)

  	
  PLAINS MARKETING &
  AT: ETHEL D, CA

  

 

3

 

 

	
   

  	
  03)

  	
  PLAINS MARKETING &
  AT: BERRY FAIRFIELD, CA

  
	
   

  	
  04)

  	
  CONOCOPHILLIPS COMMON
  CARRIER AT: FORMAX LEASE, CA

  
	
   

  	
   

  	
   

  
	
  TERMINATION:

  	
  INITIAL TERMS BELOW ARE
  BEING EXTENDED THROUGH NOVEMBER 30, 2010. 
  NEW PRICING TERMS WILL BE EFFECTIVE DECEMBER 1, 2010 THROUGH NOVEMBER
  30, 2011.  FOLLOWING THIS PERIOD, THIS
  AGREEMENT SHALL CONTINUE THEREAFTER ON A MONTH-TO-MONTH BASIS UNLESS EITHER
  PARTY SERVES TERMINATION NOTICE OF AT LEAST 90 DAYS.  IF THE AGREEMENT IS TERMINATED OR NEW TERMS
  ARE NEGOTIATED DURING THE 90-DAY NOTICE PERIOD.  THE TERMINATION OR NEW TERMS WILL BE
  EFFECTIVE ON THE FIRST OF THE CALENDAR MONTH OCCURRING 90 DAYS AFTER NOTICE
  IS SERVED.  FOR EXAMPLE, IF EITHER
  PARTY SERVED NOTICE ON SEPTEMBER 1, 2011, TERMINATION OR ANY NEWLY NEGOTIATED
  TERMS WOULD TAKE EFFECT ON DECEMBER 1, 2011. 
  THE EARLIEST THE AGREEMENT MAY BE TERMINATED IS AT THE END OF THE
  INITIAL TERM UPON SERVING TERMINATION NOTICE ON OR BEFORE SEPTEMBER 1, 2011.

  
	
   

  	
  *************

  
	
   

  	
  *************

  
	
   

  	
  *************

  
	
   

  	
  BEGINNING OCTOBER 1, 2009
  THRU SEPTEMBER 30, 2010. 

  
	
   

  	
  FOLLOWING THIS INITIAL
  PERIOD, THIS AGREEMENT SHALL CONTINUE THEREAFTER ON A MONTH-TO-MONTH BASIS
  UNLESS CONTRACT IS CANCELLED BY EITHER PARTY WITH A 60-DAY NOTICE OF
  CANCELLATION.  FIRST NOTICE OF
  CANCELLATION SHALL NOT BE GIVEN PRIOR TO AUGUST 1, 2010.

  

 

OTHER SPECIAL PROVISIONS:

PLEASE REFER TO CONTRACT
NUMBER BRRY1403TE ON ALL CORRESPONDENCE INCLUDING STATEMENTS AND WIRE TRANSFERS

 

GENERAL TERMS:

CONOCO’S GENERAL PROVISIONS
FOR DOMESTIC CRUDE OIL AGREEMENTS DATED JANUARY 1, 1993 ARE INCORPORATED HEREIN
BY REFERENCE AND MADE PART OF THIS AGREEMENT.  IN THE EVENT OF A CONFLICT BETWEEN THESE
GENERAL TERMS AND CONDITIONS AND THE SPECIFIC TERMS AND CONDITIONS OF THE
AGREEMENT, THE SPECIFIC TERMS AND CONDITIONS SHALL GOVERN.

 

PAYMENT TERMS:

IN CONSIDERATION FOR THE MUTUAL EFFICIENCIES
ARISING FROM NET  SETTLEMENT,
UNLESS OTHERWISE SPECIFIED, THE PARTIES WILL USE THE  FOLLOWING
PROCEDURE, EXCEPT AS TO CONTRACTS FOR THE DELIVERY OF  CRUDE OIL AND/OR CONDENSATE DELIVERED BY TANKER(S) AND CONTRACTS  SECURED BY PREPAYMENT AND/OR DOCUMENTARY LETTER(S) OF CREDIT,
WHICH  SHALL BE EXCLUDED FROM THIS CLAUSE AND
PAID ACCORDING TO THE PROVISIONS  OF
THE APPLICABLE CONTRACTS BETWEEN THE PARTIES. 
THE PARTIES SHALL

 

4

 

CONTINUE TO ISSUE INVOICES.  IN ACCORDANCE WITH CONTRACT TERMS,  IN THE  NORMAL
COURSE OF BUSINESS. ON OR BEFORE THE 20TH CALENDAR DAY (OR THE  PRECEDING BUSINESS DAY,   IF THE
20TH IS NOT A BUSINESS DAY) OF THE MONTH  FOLLOWING
THE MONTH DURING WHICH DELIVERIES OCCUR PURSUANT TO TERMS OF  CONTRACTS BETWEEN THE PARTIES, THE PARTIES WILL COMMUNICATE AND CONFIRM  THE INVOICED AMOUNTS TO BE INCLUDED IN THE NET PAYMENT (OR NET  SETTLEMENT) OF ACCOUNTS.  ANY
REMAINING BALANCE SHALL BE PAID BY THE  PARTY
OWING SUCH AMOUNT TO THE OTHER PARTY ON THE DATE THE GROSS  AMOUNTS ARE DUE PER THE CONTRACTS.

 

TITLE TRANSFER:

BY TRANSFER FROM DELIVERING PARTY’S TO
RECEIVING PARTY’S ACCOUNT AT THE  LOCATION(S) DESCRIBED
HEREIN, AT WHICH POINT(S) TITLE SHALL PASS AS  EVIDENCED
BY RUN TICKETS/ALLOCATION STATEMENTS ISSUED BY THE CARRIER(S)  INVOLVED.

 

FINAL AGREEMENT:

THIS CONTRACT, INCLUDING THE ABOVE
REFERENCED GENERAL TERMS COMPRISES  THE
ENTIRE AGREEMENT BETWEEN THE PARTIES AND MERGES AND SUPERSEDES ALL  PRIOR REPRESENTATIONS AND UNDERSTANDINGS BETWEEN THE PARTIES HERETO  COVERING THE SUBJECT MATTER HEREOF.

 

ASSIGNMENT CLAUSE:

NEITHER PARTY SHALL ASSIGN THIS AGREEMENT
WITHOUT THE PRIOR WRITTEN  CONSENT
OF THE OTHER.  NOTWITHSTANDING THE
FOREGOING, EXXONMOBIL OIL  CORPORATION
SHALL HAVE THE RIGHT TO ASSIGN THIS AGREEMENT TO AN  AFFILIATE
WITHOUT WRITTEN CONSENT, BY PROVIDING WRITTEN NOTICE TO THE  OTHER PARTY.

 

DOCUMENTATION INSTRUCTIONS:

THIS DOCUMENT EVIDENCES OUR
UNDERSTANDING OF THE ENTIRE AGREEMENT AND  SHALL
CONSTITUTE THE FORMAL CONTRACT. PLEASE CONFIRM BY IMMEDIATE FAX  TO THE EXXONMOBIL CONTRACT ADMINISTRATOR THAT THE ABOVE IS IN  ACCORDANCE WITH YOUR UNDERSTANDING. 
ABSENT WRITTEN NOTICE OF  OBJECTION,
WE ASSUME YOUR AGREEMENT TO THESE TERMS AND CONDITIONS.  YOUR  RESPONSE
SHOULD REFLECT THE APPROPRIATE PARTY IN YOUR ORGANIZATION WHO  HAS THE AUTHORITY TO ENTER INTO THIS AGREEMENT.

***

INVOICES TO EXXONMOBIL SHOULD BE MAILED
OR FAXED AS FOLLOWS:

EXXONMOBIL OIL CORPORATION

~~~

* * *

 

EXXONMOBIL CONTRACT ADMINISTRATOR:  ~~~

 

EXCEPT AS NOTED ABOVE, ALL OTHER PROVISIONS FOR
THE AGREEMENT REMAIN UNCHANGED.  PLEASE
ACKNOWLEDGE RECEIPT OF THIS CONFIRMATION BY RETURN FAX TO ~~~.  ABSENT WRITTEN

 

5

 

NOTICE OF OBJECTION, WE ASSUME YOUR ACCEPTANCE
OF THESE TERMS AND CONDITIONS.

 

 

	
  SIGNATURE: ~~~

  	
  DATE: 10/05/2010

  

 

6Exhibit 4.1

 

AMENDMENT NO. 3 TO THE RIGHTS AGREEMENT

 

This Amendment No. 3, dated as of October 27, 2010 (this “Amendment”),
between Virgin Media Inc. (f/k/a Telewest Global, Inc.), a Delaware
corporation (the “Corporation”), and The Bank of New York Mellon (f/k/a
The Bank of New York), a New York State-chartered bank, as Rights Agent (the “Rights
Agent”) to the Rights Agreement, dated as of March 25, 2004, and as
amended by Amendment No. 1 dated as of October 2, 2005 and Amendment No. 2
dated as of March 3, 2006 (the “Rights Agreement”); all capitalized
terms not defined herein shall have the meanings ascribed to such terms in the
Rights Agreement.

 

WHEREAS, the Corporation has entered or will enter into one or more
derivative instruments (the “Capped Call Instruments”) to reduce the
potential dilutive effects of conversion of the Corporation’s 6.50% convertible
senior notes due 2016 issued under an indenture dated as of April 16,
2008, with one or more dealers (each a “Dealer” and, collectively, the “Dealers”,
which terms shall also refer to any transferee(s) from any Dealer of the
Capped Call Instruments), and it is anticipated that the Dealers will purchase
from time to time Common Shares of the Corporation, and enter into derivative
transactions that will have the same economic effect as ownership of Common
Shares of the Corporation, in order to hedge their economic exposure under the
Capped Call Instruments (as to any Dealer, any such shares or derivative
transactions, the “Hedging Shares”);

 

WHEREAS, the Board of Directors of the Corporation has determined that
it is advisable and in the best interests of the Corporation to amend the
Rights Agreement in connection with the Capped Call Instruments and the
transactions contemplated thereby to provide, inter alia,
that the Hedging Shares acquired by a Dealer will not be aggregated with any
other Common Shares of the Corporation beneficially owned by such Dealer for
purposes of determining beneficial ownership thresholds under the definition of
“Acquiring Person” thereunder;

 

WHEREAS, Section 27 of the Rights Agreement provides that, subject
to the provisions of Section 27(b) of the Rights Agreement, prior to
the Distribution Date, the Corporation may and the Rights Agent shall, if the
Corporation so directs, supplement or amend any provision of this Agreement
without the approval of any holders of certificates representing Common Shares;

 

WHEREAS, Section 27 of the Rights Agreement provides that the
Rights Agent shall execute this Amendment upon delivery of a certificate from
an appropriate officer of the Corporation which states that this Amendment is
in compliance with the terms of Section 27 of the Rights Agreement (the “Officer’s
Certificate”); and

 

WHEREAS, the Officer’s Certificate has been delivered to the Rights
Agent and, pursuant to Section 27, the Corporation has directed that the
Rights Agreement be amended as set forth in this Amendment.

 

NOW THEREFORE, in consideration of the foregoing premises and mutual
covenants and agreements set forth herein, and other good and valuable
consideration, the

 

 

receipt
and sufficiency of which is hereby acknowledged, the Corporation and the Rights
Agent hereby agree as follows:

 

Amendment
to Section 1(a). Section 1(a) of the Rights Agreement is
hereby amended and supplemented by adding the following text to the end
thereof:

 

“Notwithstanding anything in this Agreement to the contrary, if and for
so long as a Dealer is in compliance with the Continuing Dealer Covenants, the
Hedging Shares acquired by that Dealer shall not be aggregated with any other
Common Shares Beneficially Owned by that Dealer or its Affiliates (and the
Hedging Shares Beneficially Owned by any other Dealer that is in compliance
with the Continuing Dealer Covenants) for purposes of determining whether that
Dealer or any of its Affiliates has become or is deemed to be an Acquiring
Person. The foregoing sentence, as to any Dealer, shall only be effective so
long as that Dealer remains in compliance with the Continuing Dealer Covenants.
For purposes of this Section 1(a), (i) the term “Dealer” shall
refer to a counterparty of the Corporation under one or more derivative
instruments (the “Capped Call Instruments”) entered into to reduce the
potential dilutive effects of conversion of the Corporation’s 6.50% convertible
senior notes due 2016 issued under an indenture dated as of April 16,
2008, and shall also refer to any transferee(s) from any Dealer of the
Capped Call Instruments, (ii) the term “Hedging Shares” shall, as
to any Dealer, refer to Common Shares, and derivative transactions that will
have the same economic effect as ownership of Common Shares, purchased or
entered into in order to hedge that Dealer’s economic exposure under the Capped
Call Instruments, and (iii) the term “Continuing Dealer Covenants”
shall, as to any Dealer that has the benefit of this paragraph, refer to the
following representations and covenants deemed to be given by such Dealer to
the Corporation on a continuing basis: (A) such Dealer would not be an
Acquiring Person or an “interested stockholder” (as such term is defined in Section 203
of the Delaware General Corporation Law) without taking into account the
Hedging Shares Beneficially Owned by such Dealer and (B) such Dealer has
acquired and will acquire any Hedging Shares in connection with its hedging of
the Capped Call Instruments pursuant to hedging models generally applied by
such Dealer to transactions of the type of the Capped Call Instruments and has
not acquired and is not holding and will not acquire or hold such Hedging
Shares with the purpose nor with the effect of changing or influencing the
control of the Corporation or the management or policies of the Corporation,
nor in connection with or as a participant in any transaction having any such
purpose or effect, including any transaction that would require such Dealer to
file a Schedule 13D under the Securities Exchange Act of 1934, as amended, or
become subject to Rule 13d-3(b) thereunder, or that would involve any
proposal to acquire the Corporation or its assets or to change the Board of
Directors of the Corporation.”

 

In
addition, the defined terms “Capped Call Instruments”, “Continuing Dealer
Covenants”, “Dealer” and “Hedging Shares” and their respective corresponding
section references shall be added in the appropriate alphabetical position in
the table entitled “Defined Term Cross Reference Sheet”.

 

2

 

Effective Date. This Amendment shall be deemed effective as
of the later of (i) the date first written above and (ii) the date on
which the Corporation first enters into a Capped Call Instrument, as if
executed on such date.

 

Governing Law. This Amendment shall be deemed to be a
contract made under the laws of the State of Delaware and for all purposes
shall be governed by and construed in accordance with the laws of such State
applicable to contracts to be made and performed entirely within such State;
except that all provisions regarding the rights, duties, obligations and
immunities of the Rights Agent shall be governed by and construed in accordance
with the laws of the State of New York applicable to contracts made and to be
performed entirely within such State.

 

Severability. If any term, provision, covenant or restriction of
this Amendment is held by a court of competent jurisdiction or other competent
authority to be invalid, illegal or incapable of being enforced, the remainder
of the terms, provisions, covenants and restrictions of this Amendment, and of
the Rights Agreement, shall remain in full force and effect and shall in no way
be affected, impaired or invalidated. Upon any such determination that any term
or other provision is invalid, illegal or incapable of being enforced, the
parties hereto shall negotiate in good faith to modify such provision so as to
effect the original intent of the parties as closely as possible and in an
acceptable manner with respect to such provision to the greatest extent
possible.

 

Notice. The Rights Agent and the Corporation hereby waive
any notice requirement with respect to each other under the Rights Agreement,
if any, pertaining to the matters covered by this Amendment.

 

No Other Effect. Except as expressly set forth herein, the
Rights Agreement shall not by implication or otherwise be supplemented or
amended by virtue of this Amendment, but shall remain in full force and effect,
as amended hereby.

 

Counterparts. This Amendment may be executed in any number of
counterparts and each of such counterparts shall for all purposes be deemed to
be an original, and all such counterparts shall together constitute but one and
the same instrument.

 

[signature page follows]

 

3

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the date and year first above written.

 

	
   

  	
  VIRGIN
  MEDIA INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/
  Scott G. Dresser

  
	
   

  	
  Name:

  	
  Scott
  G. Dresser

  
	
   

  	
  Title:

  	
  Assistant
  Secretary

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  THE
  BANK OF NEW YORK MELLON

  
	
   

  	
   

  	
   

  
	
   

  	
  By

  	
  /s/
  Kerri J. Shenkin

  
	
   

  	
  Name:

  	
  Kerri
  J. Shenkin

  
	
   

  	
  Title:

  	
  Associate

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