Document:

EX-10.1

 

EXHIBIT 10.1

Haights Cross Communications, Inc.

Separation and Release Agreement

     On August 24, 2007 this Separation and Release Agreement (the or this “Release Agreement”) by
and between Peter J. Quandt (“Employee”), on the one hand and Haights Cross Communications, Inc.
(the “Company”) on the other hand, is presented to Employee. This Release Agreement, executed on
the date specified below (the date of execution by the Employee hereinafter referred to as the
“Execution Date”), shall be in full force and effect as of the Effective Date (as defined below).

RECITAL

     WHEREAS, Employee and Company desire to reach a mutual understanding and acceptance of the
terms and conditions related to Employee’s separation from employment with Company;

     WHEREAS, Employee and Company have entered into that certain Employment Agreement dated
January 31, 2007 (the “Employment Agreement”);

     WHEREAS, Employee and Company entered into a certain Noncompetition Agreement, dated January
31, 2007 (the “Noncompetition Agreement”);

     WHEREAS, Employee and Company entered into a certain Management Stock Purchase Agreement,
dated August 10, 2007 ( the “Stock Purchase Agreement”), pursuant to which Employee purchased
225,000 shares of the common stock, $.001 par value, of Company (the “Employee Stock”);

     WHEREAS, on or about August 10, 2007 a recapitalization of the equity of Company was
effectuated as a result of which Employee was issued 78,736 shares of the common stock, $.001 par
value, of Company (the “PJQ Stock”)

     WHEREAS, Employee and Company are parties to a certain Shareholders Agreement, dated August
10, 2007 (the “Shareholders Agreement”).

AGREEMENT

     NOW, THEREFORE, in consideration of the mutual promises and covenants herein contained it is
hereby agreed as follows:

     1. Employee shall cease to be an employee of Company as of August 24, 2007 (the “Separation
Date”) and shall execute and deliver a letter of resignation to the Company in the form attached as
Exhibit A hereto and dated the Separation Date.

 

 

     2. In consideration of Employee’s accepting and not revoking this Release Agreement:

     (a) Company shall pay Employee a lump sum of $2,583,954.76 upon expiration of the revocation
period described in Section 20 and shall pay Executive $62,500 each month following the Separation
Date for twenty (20) months in accordance with Section 3 of the Noncompetition Agreement and the
terms therein, which amounts would not be due him if he did not execute this Release Agreement.
If there is any inconsistency between the Employment Agreement and this Release Agreement, this
Release Agreement shall control. The payments indicated in this Section 2 hereof shall be net of
all other withholdings required by law, including, without limitation, applicable federal and state
taxes and shall be in lieu of, and full satisfaction thereof, any and all payments due pursuant to
Section 3 of the Employment Agreement.

     (b) As of the Effective Date, all of the Employee Stock shall be deemed to be “Vested Shares”
as such term is defined under the Stock Purchase Agreement. If there is any inconsistency between
this Release Agreement and the Stock Purchase Agreement, this Release Agreement will control;
provided, however, that nothing herein shall supersede or modify the provisions of Sections 4(b)
and 5, respectively, of the Stock Purchase Agreement. Notwithstanding any other provision contained
herein, Employee is not waiving or releasing any of the rights of Employee in the Employee Stock or
the PJQ Stock.

     3. Employee agrees that Company is authorized to open any and all business mail addressed to
Employee at Company’s address. Employee further understands that the Company will not be
responsible for forwarding mail.

     4. (a) In consideration for, among other things, the payments to be made pursuant to
Section 2 (a) above and the vesting of the Employee Stock pursuant to Section 2 (b) above,
Employee, for himself, his agents, legal representatives, assigns, heirs, distributes, devisees,
legatees, administrators, personal representatives and executors (collectively, the “Releasing
Parties”), hereby releases and discharges the Company and its present and past subsidiaries and
affiliates, its and their respective successors and assigns, and the present and past shareholders,
officers, directors, employees, agents and representatives of each of the foregoing (collectively,
the “Releasees”), from any and all claims, demands, actions, liabilities and other claims for
relief and remuneration whatsoever, whether known or unknown, from the beginning of the world to
the date Employee signs this Release Agreement, excluding any and all claims, demands, actions,
liabilities and other claims for relief and remuneration under the Employment Agreement and
Noncompetition Agreement, but otherwise including, without limitation, any claims arising out of or
relating to Employee’s employment with and termination of employment from the Company, for wrongful
discharge, for breach of contract, for discrimination or retaliation under any federal, state or
local fair employment practices laws, including, Title VII of the Civil Rights Act of 1964 (as
amended by the Civil Rights Act of 1991), the Family and Medical Leave Act, the Americans with
Disabilities Act, the Age Discrimination in Employment Act, for defamation or other torts, for
wages, bonuses,

 

 

incentive compensation, stock, stock options, vacation pay or any other compensation or
benefit and any claims under any tort or contract (express or implied) theory, and any of the
claims, matters and issues which could have been asserted by the Releasing Parties against the
Released Parties in any legal, administrative or other proceeding in any jurisdiction.

     (b) Employee further agrees not to seek or accept any damages or relief for his own benefit,
including attorneys’ fees or costs, with respect to any claims released by the language above;
however, Employee shall have the right to seek recovery of any costs incurred, including attorney
fees and costs, in enforcing his rights under the Employment Agreement and Noncompetition Agreement
in accordance with Section 12 of the Employment Agreement.

     5. It is understood and agreed that, with the exception of all obligations of the Company
under the Employment Agreement, the Noncompetition Agreement, the Stock Purchase Agreement, the
Shareholders Agreement and this Release Agreement, and the rights of Employee to the Employee Stock
and the PJQ Stock, all which shall remain fully binding and in full effect subsequent to the
execution of this Release Agreement, the release set forth in the preceding Section is intended as
and shall be deemed to be a full and complete release of any and all claims that Employee or
Releasing Parties may or might have against Releasees, or any of them, arising out of any
occurrence arising on or before the Execution Date and said release is intended to cover and does
cover any and all future damages not now known to Employee or which may later develop or be
discovered, including all causes of action therefore and arising out of or in connection with any
occurrence arising on or before the Execution Date.

     6. By signing and returning this Release Agreement, Employee acknowledges that Employee:

     (a) has carefully read and fully understands the terms of this Release Agreement;

     (b) is entering into this Release Agreement voluntarily and knowing that Employee is releasing
claims that Employee has or believes Employee may have against the Releasees; and

     (c) has obtained advice of counsel with respect to the negotiation and execution of this
Release Agreement.

 

 

  7.

     (a) Employee agrees to return all Company property in Employee’s possession to Company
immediately, except as otherwise provided in the Employment Agreement. Employee acknowledges
receipt and agrees to the terms of the Notice on Conclusion of Employment, attached hereto as
Exhibit B. The terms of Exhibit B are incorporated herein and any violation of
Exhibit B shall be deemed a material violation of this Release Agreement.

     (b) Should Employee violate any of his obligations under paragraph 7(a) of this Release
Agreement, or his obligations under Section 6 of his Employment Agreement or Section 2 of his
Noncompetition Agreement, the Company may cease making payments and continuing benefits to the
extent provided in the Employment Agreement and Noncompetition Agreement without in anyway
affecting the continuing validity of the release set forth in paragraph 4 of this Release
Agreement. Employee agrees that restrictions contained in paragraph 7(a) (including Exhibit
B) are necessary to protect the business of the Company and are considered reasonable for such
purposes. Employee agrees that any breach of any provision of paragraph 7(a) (including Exhibit A),
Section 6 of the Employment Agreement or Section 2 of the Noncompetition Agreement may cause the
Company substantial and irreparable damages which are difficult to measure. Therefore, in the event
of any such breach or threatened breach, Employee agrees that, in addition to all other rights and
remedies, the Company shall have the right to immediate injunctive relief.

     8. Employee and Company will use their best efforts to ensure that the certificate or
certificates evidencing the Employee Stock and the PJQ Stock, or replacement certificates therefore
are delivered to Employee within 10 business days after the Effective Date; subject to the Employee
either returning to the Company the previously issued stock certificates representing the Employee
Stock and the PJQ Stock or, in lieu thereof, executing and delivering an Affidavit of Loss. There
are no requirements that the Employee Stock be subject to any escrow.

     9. Employee hereby agrees that he shall support the Company in public statements and in
dealings with third parties, and will refrain from making any derogatory or false statements with
respect to the Company or any of its officers, directors, employees, advisors, customers,
shareholders or other related or affiliated parties or any other Releasees. Company hereby agrees
that it shall direct its officers, directors, employees, advisors, shareholders or other related or
affiliated parties to support Employee in public statements and in dealings with third parties, and
to refrain from making any derogatory or false statements with respect to Employee.

     10. Employee agrees and understands that neither the content nor the execution of this
Release Agreement shall constitute or be construed as any implied or actual admission by Company of
any liability to or of the validity of any claim by Employee that the Company engaged in any
wrongdoing.

 

 

     11. Employee hereby represents and agrees that in entering into this Release Agreement,
Employee has relied solely upon Employee’s own judgment, belief and knowledge and Employee’s own
legal and other professional advisors and that no statement made by or on behalf of Company has in
any way influenced Employee in such regard.

     12. As soon as practical after the execution of this Agreement, the Company shall issue a
press release in the form attached hereto as Exhibit C or in such other form as agreed to
by Employee and the Company.

     13. Employee hereby represents and warrants to Company that Employee has not assigned any
claim that Employee may or might have against Company, from which the Company would otherwise be
released pursuant to this Release Agreement, to any third party.

     14. In the event of any conflict between this Release Agreement and the Employment Agreement,
the Noncompetition Agreement, the Stock Purchase Agreement, the Shareholders Agreement, or any
other agreement to which either Company, or any affiliates of the Company and Employee are a
parties, the provisions of this Release Agreement shall prevail.

     15. Each party shall pay its own attorneys’ fees, costs and expenses related to this Release
Agreement, except as provided in paragraph 4(b).

     16. This Release Agreement shall be governed by and construed in accordance with the laws of
the State of New York, without giving effect to conflict of laws principles.

     17. It is agreed by each of the parties hereto that they have read the above and fully
understand the terms of this Release which they voluntarily execute in good faith and deem to be a
full and equitable settlement of this matter.

     18. The provisions of this Release Agreement are severable. If any provision of this Release
Agreement is declared invalid or unenforceable, any court of competent jurisdiction reviewing such
provision shall enforce the provision to the maximum extent permissible under applicable law. Any
ruling will not affect the validity and enforceability of any other provision of the Release
Agreement.

     19. For a period of ninety (90) days after the Separation Date, Employee shall be granted
access to the Company telephone currently used by Employee (914-289-9410 ) and the Company
shall forward all personal emails received by Company to an email account designated by Employee.

     20. Employee acknowledges that he has been given the opportunity to consider this Release
Agreement before signing it. For a period of seven (7) days from the date Employee signs this
Release Agreement, Employee has the right to revoke this Release Agreement by written notice to the
undersigned. This Release Agreement shall not

 

 

become effective or enforceable until the expiration of the revocation period. This Release
Agreement shall become effective on the first business day following the expiration of the
revocation period (the “Effective Date”).

     21. Company shall provide Employee with a certification from the Corporate Secretary
certifying (i) that the Board of Directors has authorized
Executive Vice President and Chief Financial Officer to execute this Release Agreement on behalf of the
Company and (ii) the Resignation has been accepted by the Board of Directors.

 

 

     IN WITNESS WHEREOF, Company and Employee have executed and delivered this Release Agreement as
of the date first written above.

	 	 	 	 	 
	 	 	 
	/s/ Peter J. Quandt
 	 	 
	Peter J. Quandt 	 	 
	 	 	 
	 
	HAIGHTS CROSS COMMUNICATIONS, INC.

 	 	 
	By:  	/s/ Paul J. Crecca
 	 	 
	 	Paul J. Crecca, its duly authorized Executive 	 	 
	 	Vice President and Chief Financial Officerexv4w1

 

Exhibit 4.1

AMENDMENT NO. 4

     This Amendment No. 4 (“Agreement”) dated as of August 24, 2007 (“Effective Date”) is among
Mariner Energy, Inc., a Delaware corporation (the “Parent”), Mariner Energy Resources, Inc., a
Delaware corporation (“Mariner Energy Resources” and together with the Parent, the “Borrowers”,
each a “Borrower”), the Lenders (as defined in the Credit Agreement described below), and Union
Bank of California, N.A., as administrative agent for such Lenders (in such capacity, the
“Administrative Agent”) and as issuing lender for such Lenders (in such capacity, the “Issuing
Lender”).

RECITALS

     A. The Borrowers, the Lenders, the Issuing Lender and the Administrative Agent are parties to
the Amended and Restated Credit Agreement dated as of March 2, 2006, as amended by Amendment No. 1
and Consent dated as of April 7, 2006, Amendment No. 2 dated as of October 13, 2006, and Amendment
No. 3 and Consent dated as of April 23, 2007 (as so amended and as the same may be further amended,
restated, supplemented or otherwise modified from time to time, the “Credit Agreement”).

     B. At the request of the Borrowers, the Administrative Agent and the Lenders wish to, subject
to the terms and conditions of this Agreement, amend certain provisions of the Credit Agreement.

     THEREFORE, the Borrowers, the subsidiaries of the Borrowers signatory hereto (the
“Guarantors”), the Lenders, the Issuing Lender and the Administrative Agent hereby agree as
follows:

ARTICLE I.

DEFINITIONS

     Section 1.01 Terms Defined Above. As used in this Agreement, each of the terms
defined in the opening paragraph and the Recitals above shall have the meanings assigned to such
terms therein.

     Section 1.02 Terms Defined in the Credit Agreement. Each term defined in the Credit
Agreement and used herein without definition shall have the meaning assigned to such term in the
Credit Agreement, unless expressly provided to the contrary.

     Section 1.03 Other Definitional Provisions. The words “hereby”, “herein”,
“hereinafter”, “hereof”, “hereto” and “hereunder” when used in this Agreement shall refer to this
Agreement as a whole and not to any particular Article, Section, subsection or provision of this
Agreement. Article, Section, subsection and Exhibit references herein are to such Articles,
Sections, subsections and Exhibits of this Agreement unless otherwise specified. All titles or
headings to Articles, Sections, subsections or other divisions of this Agreement or the exhibits
hereto, if any, are only for the convenience of the parties and shall not be construed to have any
effect or meaning with respect to the other content of such Articles, Sections, subsections, other
divisions or exhibits, such other content being controlling as the agreement among the parties
hereto. Whenever the context requires, reference herein made to the single number shall be
understood to include the plural; and likewise, the plural shall be understood to include the

 

 

singular. Words denoting sex shall be construed to include the masculine, feminine and
neuter, when such construction is appropriate; and specific enumeration shall not exclude the
general but shall be construed as cumulative. Definitions of terms defined in the singular or
plural shall be equally applicable to the plural or singular, as the case may be, unless otherwise
indicated.

ARTICLE II.

AMENDMENT TO CREDIT AGREEMENT

     Section 2.01 Amendments to Credit Agreement.

          (a) Section 5.06(d). Section 5.06(d) of the Credit Agreement is amended by deleting
such section in its entirety and replacing it with the following:

(d) Production Reports. Concurrent with the delivery of the
financial statements required under Sections 5.06(a) and (b) above, a
report certified by a Responsible Officer of the Borrower Representative
in form and substance reasonably satisfactory to the Administrative Agent
prepared by the Borrower Representative covering the Proven Reserves of
the Parent and its Subsidiaries and detailing on a monthly basis (A) the
production, revenue, and price information and associated operating
expenses for each such month, (B) any changes to any producing reservoir,
production equipment, or producing well during each such month, which
changes could cause a Material Adverse Change, and (C) any sales of the
Parent’s or any Subsidiaries’ Oil and Gas Properties during such quarter;

          (b) Section 6.06.

          (i) The first clause of Section 6.06 of the Credit Agreement is amended by deleting such
clause in its entirety and replacing it with the following:

Section 6.06 Investments. No Borrower shall, nor shall any
Borrower permit any of its Subsidiaries to, make or permit to exist any
loans, advances, or capital contributions to, or make any investment in,
or purchase any stock or other securities or evidences of indebtedness of
or interests in any Person or any assets or business of any Person,
including without limitation any Oil and Gas Properties or assets related
to Oil and Gas Properties, except:

          (ii) Section 6.06(j) of the Credit Agreement is amended by deleting such section in its
entirety and replacing it with the following:

(j) other investments, loans or advances not otherwise permitted by this
Section 6.06 in an aggregate amount not to exceed $100,000,000
outstanding at any time; provided that, no such investment, loan
or advance under this clause (j) shall be permitted unless, both before
and after giving effect to the making of such investment, loan or
advance, the sum of the cash and Liquid

 

 

Investments of the Obligors plus the Unused Tranche A Commitment Amount
is at least equal to $100,000,000 (except that the requirement set forth
in this proviso shall not apply to the first $10,000,000 invested, loaned
or advanced under this clause (j) and such requirement shall only apply
to the other $90,000,000 potentially available under this clause (j)).

          (c) Section 6.14. Section 6.14 of the Credit Agreement is amended by deleting such
section in its entirety and replacing it with the following:

Section 6.14. Limitation on Speculative Hedging. No Borrower
shall, nor shall any Borrower permit any of its Subsidiaries to, (a)
purchase, assume, or hold a speculative position in any commodities
market or futures market or enter into any Hydrocarbon Hedge Agreement,
Interest Hedge Agreement or similar hedge arrangement (except the
purchase of any put) for speculative purposes or (b) be party to or
otherwise enter into any Hedge Contract (except the purchase of any put)
which (i) is entered into for reasons other than as a part of its normal
business operations as a risk management strategy and/or hedge against
changes resulting from market conditions related to such Borrower’s
operations, and (ii) with respect to Proven Reserves associated with any
Oil and Gas Properties (now owned or hereafter acquired and wherever
located), (A) covers notional volumes in excess of 90% of the production
volumes anticipated during the period such hedge arrangement is in effect
and attributable to Proven Reserves of the Parent and its Subsidiaries
that are categorized as “proved, developed and producing”, or (B) is
longer than three years in duration (except that any such hedge
arrangement may be for up to five years in duration if the notional
volumes covered in each of the fourth year and fifth year, as applicable,
are not in excess of 75% of such anticipated production volumes that are
categorized as “proved, developed and producing”).

ARTICLE III.

REPRESENTATIONS AND WARRANTIES

     Section 3.01 Borrowers Representations and Warranties. Each of the Borrowers
represents and warrants that: (a) its representations and warranties contained in Article IV of the
Credit Agreement and its representations and warranties contained in the Security Instruments, the
Guaranties, and each of the other Loan Documents to which it is a party are true and correct in all
material respects on and as of the Effective Date, after giving effect to the terms of this
Agreement, as though made on and as of such date, except those representations and warranties that
speak of a certain date, which representations and warranties were true and correct as of such
date; (b) after giving effect to the terms of this Agreement, no Default has occurred and is
continuing; (c) the execution, delivery and performance of this Agreement and the other documents,
instruments, certificates and agreements (“Other Documents”) required to be

 

 

delivered by this Agreement and to which each of the Borrowers is a party are within the
corporate power and authority of each of the Borrowers and have been duly authorized by appropriate
corporate action and proceedings; (d) this Agreement and the Other Documents to which each of the
Borrowers is a party constitute legal, valid, and binding obligations of such Borrower enforceable
in accordance with their respective terms, except as limited by applicable bankruptcy, insolvency,
reorganization, moratorium, or similar laws affecting the rights of creditors generally and general
principles of equity; (e) there are no governmental or other third party consents, licenses and
approvals required in connection with the execution, delivery, performance, validity and
enforceability of this Agreement or any of the Other Documents; and (f) the Liens under the
Security Instruments are valid and subsisting and secure each of the Borrowers’ obligations under
the Loan Documents.

     Section 3.02 Guarantors Representations and Warranties. Each Guarantor represents and
warrants that: (a) its representations and warranties contained in Article IV of the Credit
Agreement and its representations and warranties contained in the Security Instruments, the
Guaranties, and each of the other Loan Documents to which it is a party are true and correct in all
material respects on and as of the Effective Date, as though made on and as of such date, except
those representations and warranties that speak of a certain date, which representations and
warranties were true and correct as of such date; (b) after giving effect to the terms of this
Agreement, no Default has occurred and is continuing; (c) the execution, delivery and performance
of this Agreement and the Other Documents to which such Guarantor is a party are within the
corporate power and authority of such Guarantor and have been duly authorized by appropriate
corporate action and proceedings; (d) this Agreement and the Other Documents to which such
Guarantor is a party constitute legal, valid, and binding obligations of such Guarantor enforceable
in accordance with their respective terms, except as limited by applicable bankruptcy, insolvency,
reorganization, moratorium, or similar laws affecting the rights of creditors generally and general
principles of equity; (e) there are no governmental or other third party consents, licenses and
approvals required in connection with the execution, delivery, performance, validity and
enforceability of this Agreement or any of the Other Documents; (f) it has no defenses to the
enforcement of its Guaranty; and (g) the Liens under the Security Instruments are valid and
subsisting and secure such Guarantor’s obligations under the Loan Documents.

ARTICLE IV.

CONDITIONS

     This Agreement shall become effective and enforceable against the parties hereto, and the
Credit Agreement shall be amended as provided herein, upon the occurrence of the following
conditions precedent:

     Section 4.01 Documents; Certificates.

          (a) The Administrative Agent shall have received multiple original counterparts, as requested
by the Administrative Agent, of this Agreement duly and validly executed and delivered by duly
authorized officers of the Borrowers, the Guarantors, the Administrative Agent, and the Lenders.

 

 

          (b) The Administrative Agent shall have received a signed certificate of the secretary or an
assistant secretary of each of the Borrowers and any Guarantor in form and substance reasonably
satisfactory to the Administrative Agent.

          (c) The Administrative Agent shall have received such other instruments, documents and
amendments or supplements as the Administrative Agent may reasonably request.

     Section 4.02 No Default. No Default shall have occurred and be continuing as of the
Effective Date.

     Section 4.03 Representations. The representations and warranties in this Agreement
shall be true and correct in all material respects.

     Section 4.04 Fees. The Borrower shall have paid all reasonable fees and expenses of
the Administrative Agent under the Credit Agreement that have been invoiced and are then due and
owing.

ARTICLE V.

MISCELLANEOUS

     Section 5.01 Effect on Loan Documents; Acknowledgments.

          (a) Each of the Borrowers acknowledges that on the date hereof all Obligations are payable
without defense, offset, counterclaim or recoupment.

          (b) The Administrative Agent, the Issuing Lender, and the Lenders hereby expressly reserve all
of their rights, remedies, and claims under the Loan Documents. Nothing in this Agreement shall
constitute a waiver or relinquishment of (i) any Default or Event of Default under any of the Loan
Documents, (ii) any of the agreements, terms or conditions contained in any of the Loan Documents
other than as expressly set forth above, (iii) any rights or remedies of the Administrative Agent,
the Issuing Lender or any Lender with respect to the Loan Documents, or (iv) the rights of the
Administrative Agent, any Issuing Lender or any Lender to collect the full amounts owing to them
under the Loan Documents.

          (c) Each of the Borrowers, the Guarantors, Administrative Agent, Issuing Lender, and Lenders
does hereby adopt, ratify, and confirm the Credit Agreement, as amended hereby, and acknowledges
and agrees that the Credit Agreement, as amended hereby, and all other Loan Documents are and
remain in full force and effect, and each of the Borrowers and the Guarantors acknowledges and
agrees that its liabilities under the Credit Agreement and the other Loan Documents are not
impaired in any respect by this Agreement or the consents granted hereunder.

          (d) From and after the Effective Date, all references to the Credit Agreement and the Loan
Documents shall mean such Credit Agreement and such Loan Documents as amended by this Agreement.

          (e) This Agreement is a Loan Document for the purposes of the provisions of the other Loan
Documents. Without limiting the foregoing, any breach of representations,

 

 

warranties, and covenants under this Agreement shall be a Default or Event of Default, as
applicable, under the Credit Agreement.

     Section 5.02 Reaffirmation of the Guaranty. Each Guarantor hereby ratifies, confirms,
acknowledges and agrees that its obligations under its Guaranty are in full force and effect and
that such Guarantor continues to unconditionally and irrevocably guarantee the full and punctual
payment, when due, whether at stated maturity or earlier by acceleration or otherwise, all of the
Guaranteed Obligations (as defined in its Guaranty), as such Guaranteed Obligations may have been
amended by this Agreement, and its execution and deliver of this Agreement does not indicate or
establish an approval or consent requirement by such Guarantor under its Guaranty in connection
with the execution and delivery of amendments to the Credit Agreement, the Notes or any of the
other Loan Documents.

     Section 5.03 Counterparts. This Agreement may be signed in any number of
counterparts, each of which shall be an original and all of which, taken together, constitute a
single instrument. This Agreement may be executed by facsimile signature and all such signatures
shall be effective as originals.

     Section 5.04 Successors and Assigns. This Agreement shall be binding upon and inure
to the benefit of the Lenders, the Borrowers and the Administrative Agent hereto and their
respective successors and assigns permitted pursuant to the Credit Agreement.

     Section 5.05 Invalidity. In the event that any one or more of the provisions
contained in this Agreement shall for any reason be held invalid, illegal or unenforceable in any
respect, such invalidity, illegality or unenforceability shall not affect any other provision of
this Agreement.

     Section 5.06 Governing Law. This Agreement shall be deemed to be a contract made
under and shall be governed by and construed in accordance with the laws of the State of Texas.

     Section 5.07 Entire Agreement. THIS AGREEMENT, THE CREDIT AGREEMENT AS AMENDED BY THIS
AGREEMENT, THE NOTES, AND THE OTHER LOAN DOCUMENTS CONSTITUTE THE ENTIRE UNDERSTANDING AMONG THE
PARTIES HERETO WITH RESPECT TO THE SUBJECT MATTER HEREOF AND SUPERSEDE ANY PRIOR AGREEMENTS,
WRITTEN OR ORAL, WITH RESPECT THERETO.

THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.

[SIGNATURES BEGIN ON NEXT PAGE]

 

 

     EXECUTED effective as of the date first above written.

	 	 	 	 	 
	 	MARINER ENERGY, INC.

 	 
	 	By:  	/s/ John H. Karnes
 	 
	 	 	John H. Karnes 	 
	 	 	Senior Vice President and Chief Financial Officer 	 
	 
	 	MARINER ENERGY RESOURCES, INC.

 	 
	 	By:  	/s/ John H. Karnes
 	 
	 	 	John H. Karnes 	 
	 	 	Senior Vice President and Chief Financial Officer 	 
	 
	 	MARINER LP LLC, a Delaware

limited liability company

 	 
	 	     By:  	Mariner Energy, Inc., its sole member
 	 
	 	 	 
	 	By:  	                                            /s/ John H. Karnes
 	 
	 	 	John H. Karnes 	 
	 	 	Senior Vice President and Chief Financial Officer 	 
	 
	 	UNION BANK OF CALIFORNIA, N.A.,

as Administrative Agent, as Issuing Lender, and as a

Lender

 	 
	 	By:  	/s/ Damien Meiburger
 	 
	 	 	Damien Meiburger, Senior Vice President 	 
	 	 	 	 
	 

Signature Page to Amendment No. 4

(Mariner Energy, Inc. and Mariner Energy Resources, Inc.) 

 

 

	 	 	 	 	 
	 	LENDERS:

BNP PARIBAS

 	 
	 	By:  	/s/ Russell Otts
 	 
	 	 	Name:  	Russell Otts                                 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	 
	 	By:  	                                            /s/ Betsy Jocher
 	 
	 	 	Name:  	Betsy Jocher                                	 
	 	 	Title:  	Director 	 
	 

Signature Page to Amendment No. 4

(Mariner Energy, Inc. and Mariner Energy Resources, Inc.) 

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.

 	 
	 	By:  	/s/ Jo Linda Papadakis
 	 
	 	 	Name:  	Jo Linda Papadakis                            	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amendment No. 4

(Mariner Energy, Inc. and Mariner Energy Resources, Inc.) 

 

 

	 	 	 	 	 
	 	NATIXIS

 	 
	 	By:  	/s/ Louis P. Laville, III
 	 
	 	 	Name:  	Louis P. Laville, III                         	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	                                            /s/ Daniel Payer
 	 
	 	 	Name:  	Daniel Payer                                 	 
	 	 	Title:  	Director 	 
	 

Signature Page to Amendment No. 4

(Mariner Energy, Inc. and Mariner Energy Resources, Inc.) 

 

 

	 	 	 	 	 
	 	CAYLON NEW YORK BRANCH

 	 
	 	By:  	/s/ Michael D. Willis
 	 
	 	 	Name:  	Michael D. Willis                             	 
	 	 	Title:  	Director 	 
	 
	 	 	 
	 	By:  	                                            /s/ Dennis E. Petito
 	 
	 	 	Name:  	Dennis E. Petito                              	 
	 	 	Title:  	Managing Director 	 
	 

Signature Page to Amendment No. 4

(Mariner Energy, Inc. and Mariner Energy Resources, Inc.) 

 

 

	 	 	 	 	 
	 	GUARANTY BANK

 	 
	 	By:  	/s/ David M. Butler
 	 
	 	 	Name:  	David M. Butler                               	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amendment No. 4

(Mariner Energy, Inc. and Mariner Energy Resources, Inc.)

 

 

	 	 	 	 	 
	 	AMEGY BANK NATIONAL ASSOCIATION

 	 
	 	By:  	/s/ Kenneth R. Batson, III
 	 
	 	 	Name:  	Kenneth R. Batson, III                        	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amendment No. 4

(Mariner Energy, Inc. and Mariner Energy Resources, Inc.) 

 

 

	 	 	 	 	 
	 	DZ BANK AG DEUTSCHE ZENTRAL-

GENOSSENSCHAFTSBANK FRANKFURT AM 

MAIN, NEW YORK BRANCH

 	 
	 	By:  	/s/ Scott B. Lamoreaux
 	 
	 	 	Name:  	Scott B. Lamoreaux                           	 
	 	 	Title:  	First Vice President 	 
	 
	 	 	 
	 	By:  	                                            /s/ Paul J. Bowles
 	 
	 	 	Name:  	Paul J. Bowles                                	 
	 	 	Title:  	Assistant Treasurer 	 
	 

Signature Page to Amendment No. 4

(Mariner Energy, Inc. and Mariner Energy Resources, Inc.) 

 

 

	 	 	 	 	 
	 	CITICORP USA, INC.

 	 
	 	By:  	/s/ John F. Miller
 	 
	 	 	Name:  	John F. Miller                                	 
	 	 	Title:  	Vice President 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Signature Page to Amendment No. 4

(Mariner Energy, Inc. and Mariner Energy Resources, Inc.) 

 

 

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	/s/ Terence C. D’Souza
 	 
	 	 	Name:  	Terence C. D’Souza                            	 
	 	 	Title:  	Vice President 	 
	 

Signature Page to Amendment No. 4

(Mariner Energy, Inc. and Mariner Energy Resources, Inc.) 

 

 

	 	 	 	 	 
	 	COMERICA BANK

 	 
	 	By:  	/s/ John Strong
 	 
	 	 	Name:  	John Strong                                   	 
	 	 	Title:  	Assistant Vice President 	 
	 

Signature Page to Amendment No. 4

(Mariner Energy, Inc. and Mariner Energy Resources, Inc.) 

 

 

	 	 	 	 	 
	 	BMO CAPITAL MARKETS FINANCING, INC.

(f / k / a / HARRIS NESBITT FINANCING, INC.)

 	 
	 	By:  	/s/
Mary Lou Allen 	 
	 	 	Name:  	Mary Lou Allen 	 
	 	 	Title:  	Vice President	 
	 

Signature Page to Amendment No. 4

(Mariner Energy, Inc. and Mariner Energy Resources, Inc.)

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