Document:

EX-10.1

 Exhibit 10.1 

Execution Version 
  

 
 AMENDMENT NO. 4 TO TERM LOAN
CREDIT AGREEMENT 
 dated as of 

April 11, 2018, 
 among 

MKS INSTRUMENTS, INC., 
 as the
Borrower, 
 the other Loan Parties party hereto, 

the Participating Lenders party hereto, 

and 
 BARCLAYS BANK PLC, 

as Administrative Agent, Lead Arranger and Bookrunner 
  

 

 AMENDMENT NO. 4 TO TERM LOAN CREDIT AGREEMENT 

This AMENDMENT NO. 4 TO TERM LOAN CREDIT AGREEMENT, dated as of April 11, 2018 (this “Agreement”), by and among MKS
Instruments, Inc., a Massachusetts corporation (the “Borrower”), the other Loan Parties party hereto, Barclays Bank PLC, as the administrative agent and the collateral agent (in such capacity, the “Administrative
Agent”) under the Credit Agreement referred to below, and each Participating Lender (as defined below) party hereto. 
 RECITALS:

 WHEREAS, reference is made to the Term Loan Credit Agreement, dated as of April 29, 2016 (as amended by Amendment
No. 1 to Term Loan Credit Agreement, dated as of June 9, 2016, among the Borrower, the Loan Parties party thereto, the Administrative Agent and the other parties thereto, by Amendment No. 2 to Term Loan Credit Agreement, dated as of
December 14, 2016, among the Borrower, the Loan Parties party thereto, the Administrative Agent and the other parties thereto, and by Amendment No. 3 to Term Loan Credit Agreement, dated as of July 6, 2017, among the Borrower, the
Loan Parties party thereto, the Administrative Agent and the other parties thereto, and as many be further amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among
the Borrower, the Lenders from time to time party thereto and the Administrative Agent (capitalized terms used but not defined herein having the meaning provided in the Credit Agreement), pursuant to which the Lenders provided the Borrower with Term
Loans in an aggregate initial principal amount of $780,000,000 (the “Initial Term Loans”); 
 WHEREAS, this
Agreement constitutes a Refinancing Amendment, and the Borrower is hereby notifying the Administrative Agent that it is requesting the establishment of Other Term Commitments and/or Other Term Loans, in each case, pursuant to Section 2.15 of
the Credit Agreement; 
 WHEREAS, the Borrower requests Other Term Loans in an aggregate principal amount of $348,463,687.50 (the
“Tranche B-4 Term Loans”; the commitments in respect of such Tranche B-4 Term Loans, the “Tranche B-4
Term Commitments”; and the Participating Lenders with Tranche B-4 Term Commitments and any permitted assignees thereof, the “Tranche B-4
Lenders”), which will be available on the Amendment No. 4 Effective Date (as defined below) to refinance all existing Tranche B-3 Term Loans outstanding under the Credit Agreement immediately
prior to effectiveness of this Agreement (the “Existing Loans”) and which Tranche B-4 Term Loans shall constitute Other Term Loans and Term Loans (as applicable) for all purposes of the Credit
Agreement and the other Loan Documents; it being understood that the aggregate principal amount of the Existing Loans immediately prior to effectiveness of this Agreement is $348,463,687.50; 

WHEREAS, each Lender holding Existing Loans under the Credit Agreement immediately prior to effectiveness of this Agreement (each, an
“Existing Lender”) executing and delivering a notice of participation in the Tranche B-4 Term Loans in the form attached as Exhibit A hereto (a “Tranche B-4 Participation Notice”) and electing the cashless settlement option therein (each such Lender in such capacity and with respect to the Existing Loans so elected, a “Converting Lender”
and, together with each other Person executing and delivering a Tranche B-4 Participation Notice or otherwise providing a Tranche B-4 Term Commitment, the
“Participating Lenders”) shall be deemed to have exchanged on the Amendment No. 4 Effective Date the aggregate outstanding principal amount of its Tranche B-3 Term Loans under the Credit
Agreement for an equal aggregate principal amount of Tranche B-4 Term Loans under the Credit Agreement; 

WHEREAS, the Borrower has appointed Barclays to act, and Barclays agrees to act, as lead arranger and bookrunner in respect of the
Tranche B-4 Term Loans; 

  
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 WHEREAS, Barclays, in its capacity as lead arranger and bookrunner (the “Lead
Arranger”), agrees to act as fronting bank for the syndication of the Tranche B-4 Term Loans (in such capacity, the “Fronting Bank”), the Fronting Bank will purchase, and the Existing
Lenders will sell to the Fronting Bank, immediately prior to effectiveness of this Agreement, (i) Tranche B-3 Term Loans of Existing Lenders that do not execute and deliver a Tranche B-4 Participation Notice (the “Non-Participating Lenders”) and (ii) Tranche B-3 Term Loans of Existing Lenders
that execute and deliver a Tranche B-4 Participation Notice and elect the cash settlement option therein (the “Non-Converting Lenders”) (the Loans
described in the foregoing clauses (i) and (ii), collectively, the “Reallocated Loans”); 
 WHEREAS, to the
extent there exist any Reallocated Loans, the Fronting Bank shall be deemed to exchange on the Amendment No. 4 Effective Date such Reallocated Loans on a cashless settlement basis for an equal aggregate principal amount of Tranche B-4 Term Loans under the Credit Agreement, and such Reallocated Loans shall promptly thereafter be purchased by Participating Lenders (other than Existing Lenders) (the “New Lenders”), Non-Converting Lenders, and Existing Lenders purchasing additional Tranche B-4 Term Loans, each in accordance with such Participating Lenders’ respective Tranche B-4 Participation Notice and as allocated by the Lead Arranger (with the consent of the Borrower, not to be unreasonably withheld or delayed); and 

WHEREAS, contemporaneously with the effectiveness of the Tranche B-4 Term Commitments the
Borrower wishes to (a) make certain amendments to the Credit Agreement to provide for the incurrence of the Tranche B-4 Term Loans and (b) make certain other modifications to the Credit Agreement set
forth herein. 
 NOW, THEREFORE, in consideration of the premises and agreements, provisions and covenants herein contained, the
parties hereto agree as follows: 
  

	1.	Credit Agreement Amendments. Effective as of the Amendment No. 4 Effective Date, the Credit Agreement is hereby amended as follows: 

 

	 	(a)	Section 1.1 of the Credit Agreement is amended by inserting the following new definitions in their correct alphabetical order: 

“Amendment No. 4” shall mean Amendment No. 4 to this Agreement, dated as of
April 11, 2018, among the Borrower, the other Loan Parties party thereto, the Lenders party thereto, and the Administrative Agent. 

“Amendment No. 4 Effective Date” shall mean the “Amendment No. 4 Effective
Date” under and as defined in Amendment No. 4. 
 “Benefit Plan” shall mean any of (a) an
“employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA
Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”. 

“PTE” shall mean prohibited transaction class exemption issued by the U.S. Department of Labor, as any such
exemption may be amended from time to time. 

  
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 “Tranche B-4
Commitments” shall mean the “Tranche B-4 Term Commitments” as defined in Amendment No. 4. 

“Tranche B-4 Term Loans” shall mean the “Tranche B-4 Term Loans” as defined in Amendment No. 4. 
  

	 	(b)	The definition of “Applicable Margin” is hereby amended and restated in its entirety as follows: 

“ “Applicable Margin” means a percentage per annum equal to (i) for Tranche B-4 Term Loans that are Eurodollar Loans, 1.75% and (ii) for Tranche B-4 Term Loans that are Base Rate Loans, 0.75%.”. 

 

	 	(c)	The definition of “Term Lender” is hereby amended and restated and replaced in its entirety with the following: 

“ “Term Lender” means, collectively, (x) prior to the Amendment No. 4 Effective Date, each Lender identified on
Schedule 2.01 as having a Term Commitment on the Closing Date and the “Tranche B-3 Lenders” under Amendment No. 3, (y) on and after the Amendment No. 4 Effective Date, the
“Tranche B-4 Lenders” under Amendment No. 4, and (z) each Eligible Assignee which acquires a Term Loan pursuant to Section 10.06(b) and their respective permitted
successors, in each case, other than any such Person that has ceased to be a party hereto pursuant to an Assignment and Assumption, Amendment No. 1, Amendment No. 2, Amendment No. 3 or Amendment No. 4”. 

 

	 	(d)	The definition of “Term Loans” is amended by replacing the proviso appearing at the end of such definition with the following text: 

“; provided that from and after the effectiveness of Amendment No. 4, “Term Loans” shall mean all Tranche B-4 Term Loans made on the Amendment No. 4 Effective Date (through exchange or otherwise) pursuant to Amendment No. 4.”. 
  

	 	(e)	Section 2.01 of the Credit Agreement is hereby amended and restated and replaced in its entirety with the following:: 

“Subject solely to the terms and conditions set forth herein, each Term Lender severally agrees to make a Term Loan to the Borrower in
Dollars on the Closing Date in a principal amount equal to its Term Commitment. The Term Borrowing shall be made from the several Term Lenders ratably in proportion to their respective Term Commitments. The Term Commitments are not revolving in
nature, and amounts repaid or prepaid prior to the Maturity Date may not be reborrowed. The Term Commitments shall terminate automatically immediately after the making of the Term Loans on the Closing Date (and for the avoidance of doubt, any Term
Commitments not funded on the Closing Date will be terminated). Subject to the terms and conditions hereof and of Amendment No. 1, each Lender with a Tranche B-1 Commitment severally made or exchanged, as
applicable, on the Amendment No. 1 Effective Date, a Tranche B-1 Term Loan to the Borrower in Dollars in an amount equal to such Lender’s Tranche B-1
Commitment. The aggregate principal amount of Tranche B-1 Commitments as of the Amendment No. 1 Effective Date for all Lenders was $730,000,000. For the avoidance of doubt, the Borrower made one borrowing
under the Tranche B-1 Commitments, which was on the Amendment No. 1 Effective Date, 

  
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and each Lender’s Tranche B-1 Commitment terminated immediately and without further action on the Amendment No. 1 Effective Date after giving
effect to the funding of such Lender’s Tranche B-1 Commitment on such date. Subject to the terms and conditions hereof and of Amendment No. 2, each Lender with a Tranche B-2 Commitment severally made or exchanged, as applicable, on the Amendment No. 2 Effective Date, a Tranche B-2 Term Loan to the Borrower in Dollars in an amount equal to
such Lender’s Tranche B-2 Commitment. The aggregate principal amount of Tranche B-2 Commitments as of the Amendment No. 2 Effective Date for all Lenders was
$628,175,000. For the avoidance of doubt, the Borrower made one borrowing under the Tranche B-2 Commitments, which was on the Amendment No. 2 Effective Date, and each Lender’s Tranche B-2 Commitment terminated immediately and without further action on the Amendment No. 2 Effective Date after giving effect to the funding of such Lender’s Tranche
B-2 Commitment on such date. Subject to the terms and conditions hereof and of Amendment No. 3, each Lender with a Tranche B-3 Commitment severally made or
exchanged, as applicable, on the Amendment No. 3 Effective Date, a Tranche B-3 Term Loan to the Borrower in Dollars in an amount equal to such Lender’s Tranche
B-3 Commitment. The aggregate principal amount of Tranche B-3 Commitments as of the Amendment No. 3 Effective Date for all Lenders was $573,463,687.50. For the
avoidance of doubt, the Borrower made one borrowing under the Tranche B-3 Commitments, which was on the Amendment No. 3 Effective Date, and each Lender’s Tranche
B-3 Commitment terminated immediately and without further action on the Amendment No. 3 Effective Date after giving effect to the funding of such Lender’s Tranche
B-3 Commitment on such date. Subject to the terms and conditions hereof and of Amendment No. 4, each Lender with a Tranche B-4 Commitment severally agrees to make
and/or exchange, on the Amendment No. 4 Effective Date, a Tranche B-4 Term Loan to the Borrower in Dollars in an amount equal to such Lender’s Tranche B-4
Commitment. The aggregate principal amount of Tranche B-4 Commitments as of the Amendment No. 4 Effective Date for all Lenders is $348,463,687.50. The Borrower may make only one borrowing under the
Tranche B-4 Commitments, which shall be on the Amendment No. 4 Effective Date. Each Lender’s Tranche B-4 Commitment shall terminate immediately and without
further action on the Amendment No. 4 Effective Date after giving effect to the funding of such Lender’s Tranche B-4 Commitment on such date.”. 

 

	 	(f)	Section 2.07 of the Credit Agreement is amended by replacing the text “Amendment No. 3 Effective Date” with the text “Amendment No. 4 Effective Date” appearing therein.

  

	 	(g)	Section 2.08(f) of the Credit Agreement is amended by replacing the text “Amendment No. 3 Effective Date” with the text “Amendment No. 4 Effective Date”. 

 

	 	(h)	Section 2.05 of the Credit Agreement is amended by adding the following text as subclause (f) thereto: 

“If at any time the Administrative Agent determines (which determination shall be conclusive absent manifest error) that (i) the
circumstances set forth in Section 3.03 have arisen and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in Section 3.03 have not arisen but the supervisor for the administrator of the Eurodollar
Rate or a Governmental Authority having jurisdiction over the Administrative Agent has made a public statement identifying a specific date after which the Eurodollar Rate shall no longer be used for determining interest rates for loans, then the
Administrative Agent and the Borrower shall endeavor to establish an alternate rate of interest to the Eurodollar Rate that gives due consideration to the then prevailing market 

  
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convention for determining a rate of interest for syndicated loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of
interest and such other related changes to this Agreement as may be applicable. Notwithstanding anything to the contrary in Section 10.01, such amendment shall become effective without any further action or consent of any other party to this
Agreement so long as the Administrative Agent shall not have received, within five (5) Business Days of the date notice of such alternate rate of interest is provided to the Lenders, a written notice from the Required Lenders stating that such
Required Lenders object to such amendment. Provided that, if such alternate rate of interest shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement.” 

 

	 	(i)	Article 9 of the Credit Agreement is amended by adding the following text as Section 9.14 thereto: 

“9.14    Certain ERISA Matters. 

(a)    Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and
(y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and the Arrangers and their respective Affiliates, and not, for the
avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true: 

(i)    such Lender is not using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Term Loans or the Term Commitments, 

(ii)    the transaction exemption set forth in one or more PTEs, such as PTE
84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions
involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a
class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house
asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Term Loans and the Term Commitments and this Agreement, 

(iii)    (A) such Lender is an investment fund managed by a “Qualified Professional Asset
Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and
perform the Term Loans and the Term Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Term Loans and the Term Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Term Loans and the Term Commitments and this Agreement, or 

(iv)    such other representation, warranty and covenant as may be agreed in writing between the
Administrative Agent, in its sole discretion, and such Lender. 

  
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 (b)    In addition, unless sub-clause
(i) in the immediately preceding clause (a) is true with respect to a Lender or such Lender has not provided another representation, warranty and covenant as provided in sub-clause (iv) in the
immediately preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such
Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and the Arrangers and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrowers or any other Loan Party, that:

 (i)    none of the Administrative Agent or the Arrangers or any of their respective Affiliates is a
fiduciary with respect to the assets of such Lender (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related to hereto or thereto), 

(ii)    the Person making the investment decision on behalf of such Lender with respect to the entrance
into, participation in, administration of and performance of the Term Loans, the Term Commitments and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21) and is a bank, an insurance
carrier, an investment adviser, a broker-dealer or other person that holds, or has under management or control, total assets of at least $50 million, in each case as described in 29 CFR §
2510.3-21(c)(1)(i)(A)-(E), 
 (iii)    the Person making the
investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Term Loans, the Term Commitments and this Agreement is capable of evaluating investment risks independently,
both in general and with regard to particular transactions and investment strategies (including in respect of the Obligations), 

(iv)    the Person making the investment decision on behalf of such Lender with respect to the entrance
into, participation in, administration of and performance of the Term Loans, the Term Commitments and this Agreement is a fiduciary under ERISA or the Code, or both, with respect to the Term Loans, the Term Commitments and this Agreement and is
responsible for exercising independent judgment in evaluating the transactions hereunder, and 

(v)    no fee or other compensation is being paid directly to the Administrative Agent or the Arrangers or
any their respective Affiliates for investment advice (as opposed to other services) in connection with the Term Loans, the Term Commitments or this Agreement. 

(c)    The Administrative Agent and the Arrangers hereby inform the Lenders that each such Person is not undertaking to
provide impartial investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an
Affiliate thereof (i) may receive interest or other payments with respect to the Term Loans, the Term Commitments and this Agreement, (ii) may recognize a gain if it extended the Term Loans or the Term Commitments for an amount less than
the amount being paid for an interest in the Term Loans or the Term Commitments by such Lender or (iii) may receive fees or other payments in connection with the transactions contemplated hereby, the Loan Documents or otherwise, including
structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees, utilization fees, minimum usage fees, letter of

  
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credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or
fees similar to the foregoing.” 
  

	2.	Tranche B-4 Term Loans. Subject to the terms and conditions set forth herein, each Tranche B-4 Lender severally agrees to
exchange Existing Loans for Tranche B-4 Term Loans and/or make Tranche B-4 Term Loans to the Borrower in a single borrowing in Dollars on the Amendment No. 4
Effective Date. The Tranche B-4 Term Loans shall be subject to the following terms and conditions: 

  

	 	(a)	Terms Generally. Other than as set forth herein, for all purposes under the Credit Agreement and the other Loan Documents, the Tranche B-4 Term Loans shall have the same
terms as the initial Term Loans made on the Closing Date and shall be treated for purposes of voluntary and mandatory prepayments (including for scheduled principal payments) and all other terms as Term Loans made on the Closing Date. The parties
acknowledge that each of the initial Term Loans, Tranche B-1 Term Loans, Tranche B-2 Term Loans, Tranche B-3 Term Loans and
Tranche B-4 Term Loans may be referred to as “Tranche B-4 Loans” solely for administrative and operational purposes of the Administrative Agent, and that such
references shall not affect the rights or obligations of the Borrower under the Credit Agreement and the Term Notes. 

  

	 	(b)	Proposed Borrowing. This Agreement represents a request by the Borrower to borrow Tranche B-4 Term Loans from the Tranche B-4
Lenders as set forth on the applicable Notice of Borrowing to be delivered by the Borrower under the Credit Agreement. 

  

	 	(c)	New Lenders. Each New Lender (i) confirms that it has received a copy of the Credit Agreement and the other Loan Documents and the exhibits and schedules thereto, together with copies of the financial
statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Agreement; (ii) agrees that it will, independently and without reliance upon
the Administrative Agent, the Collateral Agent, or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Credit
Agreement; (iii) appoints and authorizes the Administrative Agent and the Collateral Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to the
Administrative Agent or the Collateral Agent, as the case may be, by the terms thereof, together with such powers as are reasonably incidental thereto; and (iv) agrees that it will perform in accordance with their terms all of the obligations
which by the terms of the Credit Agreement are required to be performed by it as a Lender, as the case may be. Each New Lender acknowledges and agrees that it shall become a “Lender” under, and for all purposes of, the Credit Agreement and
the other Loan Documents, and shall be subject to and bound by the terms thereof, and shall have all rights of a Lender thereunder. 

  

	 	(d)	Credit Agreement Governs. Except as set forth in this Agreement, the Tranche B-4 Term Loans shall otherwise be subject to the provisions of the Credit Agreement and the
other Loan Documents. 

  

	 	(e)	Exchange Mechanics. 

  
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	 	(i)	On the Amendment No. 4 Effective Date, upon the satisfaction or waiver of the conditions set forth in Section 4 hereof, the outstanding amount of Existing Loans of each Converting Lender exchanged pursuant to
this Agreement shall be deemed to be exchanged for an equal outstanding amount of Tranche B-4 Term Loans under the Credit Agreement. Such exchange shall be effected by book entry in such manner, and with such
supporting documentation, as may be reasonably determined by the Administrative Agent in its sole discretion. It is acknowledged and agreed that each Converting Lender has agreed to accept as satisfaction in full of its right to receive payment on
the outstanding amount of Existing Loans of such Converting Lender the conversion of its Existing Loans into Tranche B-4 Term Loans in accordance herewith, in lieu of the prepayment amount that would otherwise
be payable by the Borrower pursuant to the Credit Agreement in respect of the outstanding amount of Existing Loans of such Converting Lender. Notwithstanding anything to the contrary herein, each Converting Lender hereby waives any break funding
payments in respect of such Lender’s Existing Loans. 

  

	 	(ii)	To the extent there exist any Reallocated Loans, (x) on the Amendment No. 4 Effective Date, the Fronting Bank shall provide such Reallocated Loans to the Borrower in the amount set forth opposite the Fronting
Bank’s name on Annex I hereto by purchase of Existing Loans in such amount and exchange for Tranche B-4 Term Loans on a cashless settlement basis and (y) promptly following the Amendment No. 4
Effective Date (but not later than 30 days following the Amendment No. 4 Effective Date (or such later date as may be agreed to by the Fronting Bank in its sole discretion)), each New Lender, each Non-Converting Lender and each Existing Lender
purchasing additional Tranche B-4 Term Loans shall purchase Reallocated Loans from the Fronting Bank as directed by the Lead Arranger in accordance with such Participating Lender’s Tranche B-4 Participation Notice and as allocated by the Lead Arranger. Purchases and sales of Reallocated Loans shall be without representations from the Fronting Bank other than as provided for in the relevant Assignment
and Assumption. 

  

	3.	Effective Date Conditions. This Agreement will become effective on the date (the “Amendment No. 4 Effective Date”), on which each of the following conditions have been
satisfied (or waived by the Lead Arranger) in accordance with the terms therein: 

  

	 	(a)	the Administrative Agent (or its counsel) shall have received from each of the Borrower and the Participating Lenders, either (i) a counterpart of this Agreement signed on behalf of such party or (ii) written
evidence satisfactory to the Administrative Agent (which may include facsimile or other electronic transmission of a signed counterpart of this Agreement) that such party has signed a counterpart to this Agreement (which, in the case of the
Participating Lenders, may be in the form of a Tranche B-4 Participation Notice); 

  

	 	(b)	the Administrative Agent shall have received an executed Notice of Borrowing in accordance with the terms hereof and Section 2.02 of the Credit Agreement; 

 

	 	(c)	the Administrative Agent shall have received fully executed and delivered Tranche B-4 Participation Notices from Participating Lenders and the Fronting Bank representing 100% of
the aggregate outstanding principal amount of the Existing Loans; 

  

	 	(d)	 the Administrative Agent shall have received a certificate of the Borrower dated as of the Amendment No. 4
Effective Date signed by a Responsible Officer of the Borrower (i) (A) 

  
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certifying and attaching the resolutions or similar consents adopted by the Borrower approving or consenting to this Agreement and the Tranche B-4 Term
Loans, (B) certifying that the certificate or articles of organization or formation and by-laws or operating (or limited liability company) agreement of the Borrower either (x) have not been amended
since the Closing Date or (y) are attached as an exhibit to such certificate, and (C) certifying as to the incumbency and specimen signature of each officer executing this Agreement and any related documents on behalf of the Borrower and
(ii) certifying as to the matters set forth in clauses (f) and (g) below; 

  

	 	(e)	(i) the Administrative Agent shall have received all fees and other amounts previously agreed to in writing by the Lead Arranger and the Borrower to be due on or prior to the Amendment No. 4 Effective Date,
including, to the extent invoiced at least two (2) Business Days prior to the Amendment No. 4 Effective Date (or such later date as is reasonably agreed by the Borrower), including legal fees and expenses and the fees and expenses of any
other advisors in accordance with the terms of the Credit Agreement and (ii) all accrued interest and fees in respect of the Existing Loans outstanding immediately prior to effectiveness of this Agreement shall have been paid;

  

	 	(f)	the representations and warranties of the Borrower and the other Loan Parties contained in Article V of the Credit Agreement and in any other Loan Document shall be (x) in the case of representations and
warranties qualified by “materiality,” “Material Adverse Effect” or similar language, true and correct in all respects on the Amendment No. 4 Effective Date and (y) in the case of all other representations and
warranties, true and correct in all material respects, in each case, on and as of the Amendment No. 4 Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall
be true and correct on the basis set forth above as of such earlier date; 

  

	 	(g)	no Default or Event of Default shall exist on the Amendment No. 4 Effective Date before or after giving effect to the effectiveness of this Agreement and the incurrence of the Tranche
B-4 Term Loans; 

  

	 	(h)	the Administrative Agent shall have received a solvency certificate executed by a Financial Officer of the Borrower, substantially in the form of Exhibit K to the Credit Agreement, dated and certifying as to solvency as
of the Amendment No. 4 Effective Date; and 

  

	 	(i)	the Loan Parties shall have provided the documentation and other information to the Lenders required by regulatory authorities under the applicable “know-your-customer” rules and regulations, including the
Patriot Act, in each case at least three (3) Business Days prior to the Amendment No. 4 Effective Date, as has been requested to the Borrower in writing reasonably prior to the Amendment No. 4 Effective Date. 

 

	4.	Representations and Warranties. By its execution of this Agreement, each Loan Party hereby represents and warrants that: 

 

	 	(a)	such Loan Party has all requisite corporate or other organizational power and authority to execute, deliver and perform its obligations under this Agreement; 

 

	 	(b)	 the execution, delivery and performance by such Loan Party of this Agreement (x) have been duly authorized
by all necessary corporate, partnership, limited liability company or other organizational action, and (y) do not and will not (i) contravene the terms of any of such Loan Party’s Organization Documents, (ii) conflict with or
result in any breach or 

  
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contravention of, or the creation of any Lien (other than Permitted Liens) under, any Contractual Obligation to which such Loan Party is a party or any order, injunction, writ or decree of any
Governmental Authority or any arbitral award to which such Person or its property is subject except in the case of this clause (ii) any such conflict, breach or contravention that would not reasonably be expected individually or in the
aggregate to have a Material Adverse Effect or (iii) violate any Law, except in any case for such violations that would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect; 

 

	 	(c)	this Agreement has been duly executed and delivered by each Loan Party that is party hereto, and this Agreement constitutes a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party
that is party thereto in accordance with its terms, except (i) as such enforceability may be limited by applicable bankruptcy, insolvency, examinership, reorganization, moratorium or similar laws affecting the enforcement of creditors’
rights generally and (ii) that rights of acceleration and the availability of equitable remedies may be limited by equitable principles of general applicability (regardless of whether enforcement is sought by proceedings in equity or at law);
and 

  

	 	(d)	both immediately before and after giving effect to the Amendment No. 4 Effective Date and the incurrence and/or exchange of the Tranche B-4 Term Loans, (i) the
representations and warranties contained in the Credit Agreement and in the other Loan Documents shall be (x) in the case of representations and warranties qualified by “materiality,” “Material Adverse Effect” or similar
language, true and correct in all respects on the Amendment No. 4 Effective Date and (y) in the case of all other representations and warranties, true and correct in all material respects, in each case, on and as of the Amendment
No. 4 Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct on the basis set forth above as of such earlier date and (ii) no event
shall have occurred and be continuing or would result from the consummation of this Agreement that would constitute an Event of Default. 

  

	5.	Use of Proceeds. The Borrower covenants and agrees that it will use the proceeds of the Tranche B-4 Term Loans to prepay in full the aggregate principal
amount of Existing Loans outstanding on the Amendment No. 4 Effective Date and to pay any interest, fees and/or expenses related thereto. 

  

	6.	Reaffirmation of the Loan Parties; Reference to and Effect on the Credit Agreement and the other Loan Documents. 

  

	 	(a)	Each Loan Party hereby consents to the amendment of the Credit Agreement effected hereby and confirms and agrees that, notwithstanding the effectiveness of this Agreement, each Loan Document to which such Loan Party is
a party is, and the obligations of such Loan Party contained in the Credit Agreement, this Agreement or in any other Loan Document to which it is a party are, and shall continue to be, in full force and effect and are hereby ratified and confirmed
in all respects, in each case as amended by this Agreement. For greater certainty and without limiting the foregoing, each Loan Party hereby confirms that the existing security interests granted by such Loan Party in favor of the Senior Credit
Parties pursuant to the Loan Documents in the Collateral described therein shall continue to secure the obligations of the Loan Parties under the Credit Agreement and the other Loan Documents as and to the extent provided in the Loan Documents.
Except as specifically amended by this Agreement, the Credit Agreement and the other Loan Documents shall remain in full force. 

  
 11 

	 	(b)	The execution, delivery and performance of this Agreement shall not constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of any Agent or Lender under, the Credit Agreement or any
of the other Loan Documents. 

  

	 	(c)	On and after the Amendment No. 4 Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring
to the Credit Agreement, and each reference in the other Loan Documents to the “Credit Agreement”, “thereunder”, “thereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the
Credit Agreement as amended by this Agreement. 

  

	7.	Prepayment Notice. The Participating Lenders and the Fronting Bank party hereto, which constitute the Required Lenders, and the Administrative Agent hereby waive the requirement under Section 2.08(d)
of the Credit Agreement to provide notice to the Administrative Agent not less than three (3) Business Days prior to the prepayment of Existing Loans to be made hereunder. It is understood and agreed that this Agreement shall serve as the
notice referred to in Section 2.08(d) of the Credit Agreement. 

  

	8.	Request for Borrowing. Pursuant to this Agreement, the Borrower hereby requests a Borrowing of Tranche B-4 Term Loans in an aggregate principal amount of
$348,463,687.50, with such Borrowing to be made on the Amendment No. 4 Effective Date and to have an Interest Period ending on April 30, 2018 (and, notwithstanding anything to the contrary herein, each Participating Lender hereby consents
to such non-conforming Interest Period). 

  

	9.	Notice. For purposes of the Credit Agreement, the initial notice address of each New Lender shall be as separately identified to the Administrative Agent. 

 

	10.	Tax Forms. For each New Lender, delivered herewith to the Administrative Agent are such forms, certificates or other evidence with respect to United States federal income tax withholding matters as such
New Lender may be required to deliver to the Administrative Agent pursuant to Section 3.01(f) of the Credit Agreement. 

  

	11.	Recordation of the New Loans. Upon execution and delivery hereof, the Administrative Agent will record the Tranche B-4 Term Loans made by each Participating Lender
in the Register. 

  

	12.	Amendment, Modification and Waiver. This Agreement may not be amended, modified or waived except as permitted by Section 10.01 of the Credit Agreement. 

 

	13.	Integration. This Agreement, the other Loan Documents and any separate letter agreements with respect to fees payable to the Lead Arranger and/or the Administrative Agent or the syndication of the Tranche B-4 Term Loans and commitments related thereto constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or
written, relating to the subject matter hereof. This Agreement shall not constitute a novation of any amount owing under the Credit Agreement and all amounts owing in respect of principal, interest, fees and other amounts pursuant to the Credit
Agreement and the other Loan Documents shall, to the extent not paid or exchanged on or prior to the Amendment No. 4 Effective Date, continue to be owing under the Credit Agreement or such other Loan Documents until paid in accordance
therewith. 

  

	14.	Severability. The provisions of Section 10.12 of the Credit Agreement are hereby incorporated by reference, mutatis mutandis, as if originally made a part hereof. 

  
 12 

	15.	GOVERNING LAW; JURISDICTION; SERVICE OF PROCESS; WAIVER OF JURY TRIAL. THE PROVISIONS OF SECTION 10.13 OF THE CREDIT AGREEMENT ARE HEREBY INCORPORATED BY REFERENCE, MUTATIS MUTANDIS, AS IF ORIGINALLY MADE
A PART HEREOF. 

  

	16.	Counterparts. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together
shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement by telecopier shall be effective as delivery of a manually executed counterpart of this Agreement. 

 

	17.	Loan Document. On and after the Amendment No. 4 Effective Date, this Agreement shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents (it
being understood that for the avoidance of doubt this Agreement may be amended or waived by the parties hereto solely as set forth in Section 12 above). 

[Signature Pages Follow] 

  
 13 

 IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to
execute and deliver this Agreement as of the date first set forth above. 
  

			
	MKS INSTRUMENTS, INC.
		
	By:	 	/s/ Seth H. Bagshaw
		 	 Name: Seth H. Bagshaw
 Title: Sr. Vice
President, Chief Financial Officer
           and Treasurer

  

			
	NEWPORT CORPORATION
		
	By:	 	/s/ Seth H. Bagshaw
		 	 Name: Seth H. Bagshaw
 Title:
President

 [Signature Page to Amendment No. 4 to Term Loan Credit Agreement] 

 
			
	BARCLAYS BANK PLC, as Administrative Agent
		
	By:	 	/s/ Peter C. Thomson
		 	 Name: Peter Thomson
 Title: Managing
Director

 [Signature Page to Amendment No. 4 to Term Loan Credit Agreement] 

 
			
	BARCLAYS BANK PLC, as Fronting Bank
		
	By:	 	/s/ Peter C. Thomson
		 	 Name: Peter Thomson
 Title: Managing
Director

 [Signature Page to Amendment No. 4 to Term Loan Credit Agreement] 

 EXHIBIT A 

Form of Tranche B-4 Participation Notice 

Date: April [_], 2018 
 Barclays Bank PLC, as
Administrative Agent 
 745 7th Avenue 

New York NY 10019 
 Attn: Robert Walsh 

Phone: (212) 526 6047 
 Email: robert.xa.walsh@barclays.com

 MKS Instruments, Inc. 

Tranche B-4 Participation Notice 

Ladies and Gentlemen: 
 Reference is made to
Amendment No. 4 (the “Amendment”) to that certain Term Loan Credit Agreement, dated as of April 29, 2016 (as amended by Amendment No. 1 (as defined therein), Amendment No. 2 (as defined therein), Amendment
No. 3 (as defined therein) and the Amendment, and as may be further amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among MKS Instruments, Inc., a
Massachusetts corporation (the “Borrower”), the Lenders from time to time party thereto, and Barclays Bank PLC, as administrative agent (in such capacity, the “Administrative Agent”). Unless otherwise specified
herein, capitalized terms used but not defined herein are used as defined in the Amendment. 
 By delivery of this letter agreement (this
“Tranche B-4 Participation Notice”), each of the undersigned (each a “Participating Lender”), hereby irrevocably consents to the Amendment and the amendment of the Credit
Agreement contemplated thereby and (check as applicable): 
 NAME OF PARTICIPATING
LENDER: _____________________________________________ 
 AMOUNT OF
EXISTING LOANS OF SUCH PARTICIPATING LENDER: $____________________ 

 

	☐	Cashless Settlement Option. Hereby (i) elects, upon the Amendment No. 4 Effective Date, to exchange the full amount (no partial amounts will be rolled) of the outstanding Existing Loans of such
Participating Lender for an equal outstanding amount of Tranche B-4 Term Loans under the Credit Agreement and (ii) represents and warrants to the Administrative Agent that it has the organizational power
and authority to execute, deliver and perform its obligations under this Tranche B-4 Participation Notice and the Amendment (including, without limitation, with respect to any exchange contemplated hereby) and
has taken all necessary corporate and other organizational action to authorize the execution, delivery and performance of this Tranche B-4 Participation Notice and the Amendment. 

 

	☐	 Cash Settlement Option. Hereby (i) elects to have the full amount of the outstanding Existing
Loans of such Participating Lender repaid or purchased and agrees to promptly (but in any event, on or prior to the date that is 30 days following the Amendment No. 4 Effective Date) purchase (via assignment and assumption) an equal amount of
Tranche B-4 Term Loans and (ii) represents and warrants to the Administrative Agent that it has the organizational power and authority to execute, deliver and perform its obligations under

	 	
this Tranche B-4 Participation Notice and the Amendment (including, without limitation, with respect to any exchange contemplated hereby) and has taken all
necessary corporate and other organizational action to authorize the execution, delivery and performance of this Tranche B-4 Participation Notice and the Amendment. 

 

	    	Notwithstanding anything to the contrary, each undersigned Lender hereby agrees to waive its right to compensation for any amounts owing under Sections 3.02 or 3.03 of the Credit Agreement. 

[Signature Page Follows] 

 
			
	 Very truly yours,
  

_______________________________,

		
	By:	 	 
		 	 Name:
 Title:

		
	By:	 	 
		 	 Name:
 Title:

 ANNEX I 

REALLOCATED LOANS 
  

			
	Barclays Bank PLC	 	$32,690,206.57Exhibit 4.23

 

December 18, 2017

 

 

Messrs.

PLUSPETROL S.A.

Lima 339

Buenos Aires

Argentina

 

REF: IRREVOCABLE OFFER, DECEMBER 18,
2017 

 

 

Dear Sirs,

 

In accordance
with recent negotiations, GeoPark Argentina Ltd., a company duly organized and validly existing under the laws of Bermuda with
a branch registered and domiciled in Florida 981, Piso 2, Buenos Aires Argentina (“Buyer”), hereby submits
this irrevocable sale and purchase offer to enter into a sale and purchase and assignment agreement (the “Offer”)
to PLUSPETROL S.A., a sociedad anónima duly organized and validly existing under the laws of Argentina and domiciled
in Lima 339, Buenos Aires, Argentina (“Seller”), subject to the terms and conditions set forth below (including
all schedules hereto).

 

This Offer shall
be irrevocable and remain open for acceptance until 11:59 p.m. (Buenos Aires time) on the date hereof, after which time this Offer
shall expire and terminate automatically without further notice.

 

The Seller and the
Buyer may sometimes hereinafter be referred to individually as a “Party” and collectively as “Parties”.

 

This Offer
shall be deemed accepted and the Agreement shall be deemed fully executed and delivered if, on or before 11:59 p.m. (Buenos Aires
time) the date hereof the Seller deliver an instruction to Buyer informing the bank account to which the Security Deposit shall
be wired (the “Seller Account”) as stated in Section 3.2.

 

If Seller
were to accept this Offer pursuant to the immediately preceding paragraph, the rights and obligations under which Seller and Buyer
will be bound shall be those arising from the terms and conditions of this Offer and those terms and conditions shall govern the
relationship between Seller and Buyer relating to the subject matter thereof.

 

TERMS AND CONDITIONS
OF THE OFFER

 

THIS SALE AND PURCHASE
AND ASSIGNMENT AGREEMENT (this “Agreement”) is entered into between Seller and Buyer.

 

    1

     

    

 

RECITALS

 

WHEREAS, Seller
is holder of (a) the following hydrocarbon concessions: CNQ-12 Aguada Baguales (granted by Decree of the National Executive Branch
No. 1758/1990, as amended by Decree of the Governor of the Province of Neuquén No. 2100/2008) (“Aguada Baguales”),
CNQ-15 El Porvenir (granted by Decree of the National Executive Branch No. 1758/1990, as amended by Decree of the Governor of
the Province of Neuquén No. 2100/2008) (“El Porvenir”) and CNQ-27 Puesto Touquet (granted by Decree
of the National Executive Branch No. 143/1992, as amended by Decree of the Governor of the Province of Neuquén No. 2100/2008)
(“Puesto Touquet”), and (b) the hydrocarbon transport concession granted by Administrative Decision of the
National Chief of Cabinet of Ministers No. 519/98 (the “Transport Concession”, and together with Aguada Baguales,
El Porvenir and Puesto Touquet, the “Concessions”), in all cases granted pursuant to Law No. 17,319 (as amended);
and

 

WHEREAS, the Seller
desires to sell, assign and transfer to the Buyer, and the Buyer desires to acquire from the Seller the Concessions and some assets
related thereto, and upon the terms and subject to the conditions set forth in this Agreement.

 

NOW, THEREFORE,
in consideration of the premises and the covenants set forth herein and the benefits to be derived under this Agreement, the Parties
hereby agree as follows:

 

 

SECTION 1

DEFINITIONS AND
INTERPRETATION

 

1.1       The
headings contained in this Agreement, in any Exhibit or Schedule hereto and in the table of contents to this Agreement are for
reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Any capitalized terms
used in any Exhibit or Schedule but not otherwise defined therein, shall have the meanings as defined in this Agreement. All Exhibits
or Schedules annexed hereto or referred to herein are hereby incorporated in and made parts of this Agreement as if set forth
in full herein. Any disclosure made in one Schedule will be deemed to be disclosed in all Schedules and under this Agreement to
the extent it is reasonably apparent that such disclosure is applicable thereto. Inclusion of any item in a Schedule does not
represent a determination that such item is material nor shall it be deemed to establish a standard of materiality. Unless expressly
provided to the contrary, the terms “hereunder,” “hereof,” “herein” and words of similar import
are references to this Agreement as a whole and not any particular section or other provision of this Agreement. References to
the singular shall include the plural, and vice versa. Except as otherwise expressly provided herein, any reference in this Agreement
to any contract or agreement shall mean such contract or agreement as amended, restated, supplemented or otherwise modified from
time to time. “Include” and “including,” as used in this Agreement, shall mean include or including without
limiting the generality of the description preceding such term.

 

    2

     

    

 

1.2       For
all purposes hereof:

“Affiliate”
means a Person which controls, or is controlled by, or which is controlled by entity Person which controls a Party. “Control”
means (a) the ownership directly or indirectly of more than fifty percent (50%) of the shares or voting rights in the company,
partnership or legal entity, or (b) the power to direct or cause the direction of the management and policies in the company,
partnership or legal entity or (c) the right to appoint or remove a number of directors necessary to decide all matters on the
board of directors of the company, partnership or legal entity.

 

“Agreement”
means this Sale and Purchase and Assignment Agreement together with its Schedules, Exhibits, and any valid extension, renewal
or amendment thereof.

 

“Argentine
Antitrust Approval” means the authorization required by Argentine Antitrust Law for the transactions contemplated by
this Agreement.

 

“Argentine
Antitrust Law” means any Law of Argentina intended to prohibit, restrict or regulate actions or transactions having
the purpose or effect of monopolization, restraint of trade, or harm to competition (including, without limitation, Argentine
Antitrust Law No 25,156 as amended by Argentine Legislative Decree N° 396/2001 and implemented by, inter alia, Argentine
Regulatory Decree N° 89/2001 and Argentine Resolution SDyCS N° 40/2001, as amended and complemented from time to time).

 

“AR$”
means Argentine currency (Peso).

 

“Assets”
means the Concessions and the Property, in each case at the date that may correspond according to the context.

 

“Big Three
Accounting Firm” means Deloitte, Ernst & Young or KPMG.

 

“Business
Day” means any day other than a Saturday, Sunday or other day on which commercial banks in Buenos Aires, Argentina and
New York, United States are authorized or required by Law to close.

 

“Buyer”
has the meaning given thereto in the introductory paragraph.

 

“Closing”
shall have the meaning assigned to such term in Section 4.1.

 

“Closing
Date” means the date on which the Closing shall occur.

 

“Concessions”
has the meaning given to it in the Recitals.

 

“Consideration
Adjustment” means the sum of all Monthly Exploitation Results as from the Economic Date to Closing Date.

 

    3

     

    

 

“Contracts
with Suppliers” means those contracts described in Schedule 1.2 (Contracts with Suppliers), as this list may
be adjusted subject to the provisions of Section 6.1 (b).

 

“Default
Interest Rate” means LIBOR plus five percent (5%).

 

“Draft Public
Deed” means the minuta de escritura pública as transcribed in Schedule 6.3(d).

 

“Economic
Date” means the Execution Date.

 

“Employee”
means any individual working in connection with the Concessions, which, at the execution hereof, are those described in Schedule
1.2(Employees).

 

“Encumbrance”
means any mortgage, pledge, lien, hypothecation, trust, assignment by way of security or any other security interest of any kind
however created or arising or any other agreement or arrangement (including, without limitation, a sale and repurchase arrangement)
having similar effect, an option to purchase, a right of first refusal, right of first offer or other pre-emptive or preferential
right to purchase, a farm-out agreement under which earning has not occurred, any royalty or overriding royalty other than statutory
royalties, a net profits interest, a carried working interest, a right to convert a royalty to a working interest on payout of
a well or any other agreement or arrangement having a similar effect, any obligation or burden to treat, process or transport
hydrocarbons produced by any third parties or any other agreement or arrangement having a similar effect, in all cases other than
as created or arising out of applicable law (including statutory obligations to transport hydrocarbons to third parties).

 

“Environmental
Laws” means those laws, statutes, rules, permits, and regulations applicable to the activities under the Concessions
concerning (i) harm or damage to, or the protection of the environment (or any compensation in respect) arising in respect of
such harm or damage to the environment; and (ii) the presence, generation, management, extraction, transportation, storage, treatment,
disposal, deposit, abandonment, emission, discharge, release or escape of dangerous substance.

 

“Execution
Date” means the date on which this Agreement is executed by Seller and the Buyer.

 

“Extension
Agreement” means such Acta Acuerdo dated November 11, 2008 entered into by Seller and the Province of Neuquén
to extend all of the Sellers concessions in the Province of Neuquén, including the Concessions approved under Province
of Neuquén Decree 2100/08.

 

“GAAP”
means the Generally Accepted Accounting Principles in Argentina, as recepted by the Federación Argentina de Consejos Profesionales
de Ciencias Económicas.

 

    4

     

    

 

“Government”
means the government of the Republic of Argentina, the Province of Neuquén and any Governmental Entity within Argentina
or, as the context of the Agreement relates, outside Argentina.

 

“Governmental
Entity” means any ministry, commission, department, agency, municipality, company, political subdivision or instrumentality
of the Government (including any province of Argentina), or any court of competent jurisdiction or other governmental authority
of the Government.

 

“ICC”
shall have the meaning ascribed to such term in Section 18(b).

 

“ICC Rules”
shall have the meaning assigned to such term in Section 18(b) hereof.

 

“Interim
Period” means the term between the Execution Date and the Closing Date.

 

“Inventories”:
means (x) the crude oil inventory as of Closing Date plus (y) the materials inventory as of Closing Date, as calculated
by Seller.

 

“Law”
means any statute, act, rule, regulation, ordinance, or order, or any standards or codes having the force of law, enacted or promulgated
by any Governmental Entity.

 

“LIBOR”
means the rate which appears on the Bloomberg BBAM Page (or any page which replaces such page) for deposits in USD with maturities
of 30 days (and, if more than one rate is specified on the Bloomberg BBAM Page, then the applicable rate shall be the arithmetic
mean of all such rates); provided that, if such Bloomberg Page is not available, then LIBOR means the average (excluding the highest
and the lowest) of the offered quotations of five or more reference banks selected by the Seller from among major banks in the
London interbank market for USD deposits of amounts comparable to the outstanding debt with maturities of 30 days, determined
as of 11:00 a.m. (London time) on the determination date.

 

“Monthly
Exploitation Results” means the results, capital expenditures and other adjustments attributable to the Assets, on an
accrual basis, for any calendar month, expressed in USD, as calculated in accordance with Schedule 1.2 (Consideration Adjustment),
provided however, that no results, capital expenditures and other adjustments accrued before the Economic Date or after
the Closing date shall be included.

 

“Non-Registered
Property” means the non-registered assets (activos no registrables) directly used by the Seller in the exploitation
of Concessions, in each case at the date that may correspond according to the context. A list of the Non-Registered Property as
of the Closing Date shall be delivered by Seller at Closing.

 

“Negative
Antitrust Decision” has the meaning set forth in Section 6.3(d).

 

“Notary
Public” means the notary public to be selected and appointed by Buyer with prior Seller’s consent, which shall
not be unreasonably withheld or rejected, to notarize the assignment of the Concessions and the Registered Property. Buyer shall
inform to Seller the name and address of the selected Notary Public in writing reasonably in advance of the Closing Date.

 

    5

     

    

 

“Permits”
means any and all permits, authorizations, approvals, registrations, certificates, orders, waivers or other approvals and licenses
relating to the Assets.

 

“Person”
means any individual, firm, corporation, partnership, limited liability company, trust, joint venture, unincorporated organization,
Governmental Entity or other entity.

 

“Price for
the Property” means the aggregate price for each item of Property as of the Closing Date.

 

“Property”
means (x) the Non-Registered Property, (y) the Registered Property and (z) the Inventories, in each case at the date that may
correspond according to the context.

 

“Purchase
Price” means United State Dollars Fifty Two Million (USD 52.000.000,00).

 

“Registered
Property” means the registered assets (bienes registrables) directly used by the Seller in the exploitation of
Concessions, in each case at the date that may correspond according to the context. A list of the Registered Property as of the
execution hereof is included in Schedule 1.2(Registered Property).

 

“Security
Deposit” shall have the meaning ascribed to it in Section 3.2.

 

“Surface
Rights” means all rights currently held by Seller and arising out of the Concessions to enter, occupy, cross or otherwise
use or enjoy the surface of any lands covering or relating to the Concessions upon which the Property is situated, used to gain
access to or in connection with the ownership or operation of the Concessions and the Property.

 

“Taxes”
means all taxes, including income tax, surtax, remittance tax, capital gains tax, presumptive tax, net wealth tax, value-added
tax, withholding tax, gross receipts tax, real property tax, sales tax, use tax, excise tax, ad valorem tax, tax on debits and
credits on bank accounts, customs duties, stamp tax, documentary tax, registration tax, motor vehicle tax, alternative or add-on
minimum tax, and any related charge or amount (including any fine, penalty, interest or addition to tax), imposed, assessed or
collected by, for, or under the authority of any Argentine Governmental Entity.

 

“Termination
Date” shall have the meaning assigned to such term in Section 9.1(iii).

 

“Termination
Damages” shall have the meaning assigned to such term in Section 9.4.

 

“USD”
is the abbreviation of United States Dollars and means the legal currency of the United States of America.

 

    6

     

    

 

“VAT”
means the value added tax existing in the Republic of Argentina.

 

“Well”
means any and all wells drilled in the Concessions in furtherance of hydrocarbon operations, whether active, inactive or abandoned,
and irrespective of any qualities or classifications, excluding service wells or pozos freatrimétricos.

 

 

SECTION 2

AGREEMENT TO ASSIGN

 

Subject to the terms
and conditions set out in this Agreement: (i) Seller does hereby agree to grant, sell, convey, assign and transfer the Assets
to Buyer at Closing Date; and (ii) Buyer does hereby agree to purchase and acquire the Assets from Seller at Closing Date.

 

 

SECTION 3 

COMPENSATION

 

3.1       Purchase
Price. Consideration.

 

As provided in Section
3.3, in consideration of the sale and transfer of the Concessions and the Property as of the Closing Date, the Buyer shall
pay to the Seller the Purchase Price.

 

3.2       Security
Deposit.

 

In order to secure
the payment of the Termination Damages Buyer, upon execution hereof, shall wire transfer, in immediately available funds, in USD
and to an account specified by the Seller, an amount equal to 30% of the Purchase Price (the “Security Deposit”).
Buyer hereby pledges to Seller, as the secured party, as security for the payment of the Termination Damages, and grants to Seller,
a first priority continuing prenda against the Security Deposit. In no event the Security Deposit shall be construed as
a down, advance or anticipated payment of the Purchase Price.

 

The transfer of
the Security Deposit shall be deemed a necessary condition for the execution of this Agreement.

 

Seller shall exercise
reasonable care to assure the safe custody of the Security Deposit to the extent required by applicable law, and in any event
Seller shall be deemed to have exercised reasonable care if it exercises at least the same degree of care as it would exercise
with respect to its own property. Except as specified in the preceding sentence, Seller shall have no duty with respect to the
Security Deposit. The Security Deposit shall accrue no interest in favor of Buyer, provided, however, that if the Security
Deposit is returned to Buyer as provided in Sections 9.4 (a) then, together with the reimbursement of the Security Deposit,
the Seller shall pay to the Buyer an amount equal to the interest accrued by the Security Deposit as provided in Section 9.4(a).

 

    7

     

    

 

Seller shall be
entitled to hold the Security Deposit or to appoint an agent (a “Custodian”) to hold the Security Deposit for
the Seller. The holding of the Security Deposit by a Custodian shall be deemed to be the holding of the Security Deposit by Seller
for which the Custodian is acting. Seller shall have the right to invest, use, commingle or otherwise dispose of, or otherwise
use in its business the Security Deposit. Seller shall be liable vis a vis Buyer for the Custodian ́s performance of its
obligations.

 

3.3        Purchase
Price Payment.

 

At Closing, (a)
the Security Deposit shall be credited to the Seller as payment of the Purchase Price, (b) Buyer shall pay the outstanding amount
of the Purchase Price to Seller and (b) Buyer shall pay the Seller the corresponding VAT applicable on the transfer of the Property
as of the Closing Date as required by Argentine tax law, which amount shall be calculated by Seller based on the Price for the
Property.

 

The part of the
Purchase Price attributable to the transfer of the Property shall be invoiced by the Seller to the Buyer (which invoice shall
include the corresponding VAT applicable on the transfer of the Property as of the Closing Date as required by Argentine tax law).

 

Any payments hereunder
shall be in cash, by wire transfer, in immediately available funds, in USD and to an account specified by the Seller located in
New York or in any other place.

 

The Seller shall
receive the Purchase Price free and clear of any deduction, discounts, withholdings and any tax applicable according to Argentine
Law.

 

3.4       Interest.

 

If the Buyer fails
to pay when due any amounts due pursuant to Section 3 hereof, the Buyer shall bear interest on any amount not paid from
the date due until paid in full at the Default Interest Rate.

 

3.5       Consideration
Adjustment.

 

Within twenty (20)
Business Days after Closing, Seller will calculate and send to Buyer the Consideration Adjustment.

 

After receiving
the Consideration Adjustment from Seller, Buyer will have twenty (20) Business Days to review and object any concept included
in the Consideration Adjustment, including the reasons supporting the objection. In case the Buyer does not object the calculation
within the mentioned period, it will be understood that the Consideration Adjustment sent by Seller is correct, final and binding
between the Parties.

 

    8

     

    

 

If an objection
to the calculation occurs, both Parties will cooperate in good faith in order to solve the dispute. If, after five (5) Business
Days from the presentation of the objection, the Parties do not reach an agreement regarding the Consideration Adjustment, a Big
Three Accounting Firm mutually agreeable to both Parties will determine, conclusively and without appeal, the Consideration Adjustment,
in accordance with GAAP, the provisions of Section 773 of the Código Procesal Civil y Comercial de la Nación
and this Agreement. The Parties will equally share all related cost and expenses incurred in the said determination.

 

Once the Consideration
Adjustment shall have become final and binding upon the Parties as a result of the procedure set forth above, the corresponding
Party shall pay to the other Party within the following 5 Business Days. If the Consideration Adjustment is positive, the Seller
will pay an amount equivalent to the Consideration Adjustment to Buyer; and if the Consideration Adjustment is negative, the Buyer
will pay an amount equivalent to the Consideration Adjustment to Seller.

 

3.6       Currency
for Payments.

 

		(a)	Each Party expressly waives
                                         and relinquishes any defense to excuse any payment obligation hereunder in USD, including
                                         in case of caso fortuito, fuerza mayor or as provided in Articles 332 or
                                         1091 of the Código Civil y Comercial de la República Argentina,
                                         and expressly waives and relinquishes any rights to pay in another currency any amounts
                                         owed in USD hereunder as may be granted by the Article 765 of the Código Civil
                                         y Comercial de la República Argentina or any other provision. In the event
                                         that, for any Party, it is not possible or it is not permitted pursuant to applicable
                                         Law to access the foreign exchange market to make payments in USD as established hereunder,
                                         such Party shall, to the extent permitted by applicable Law, deliver to the other Party
                                         (the “Receiving Party”), at Receiving Party’s sole option, the
                                         following: (i) an amount of Argentine Pesos necessary to acquire (at Receiving Party’s
                                         sole option) an amount of Par Bonds, Quasi-Par Bonds, Discount Bonds, BODEN or any debt
                                         securities denominated in USD issued by the Argentine Republic, for a nominal value sufficient
                                         so that, once such debt securities are traded and settled in New York (USA) or Zurich
                                         (Switzerland) (at Receiving Party’s option), the USD amount received, net of expenses,
                                         taxes, fees and commissions, equals the USD amount owed under this Agreement, or (ii)
                                         (at Receiving Party’s sole option) an amount of Par Bonds, Quasi-Par Bonds, Discount
                                         Bonds, BODEN or any debt securities denominated in USD issued by the Argentine Republic,
                                         for a nominal value sufficient so that, once such debt securities are traded and settled
                                         in New York (USA) or Zurich (Switzerland) (at Receiving Party’s option), the USD
                                         amount received, net of expenses, taxes, fees and commissions, equals the USD amount
                                         owed under this Agreement. In this case, any USD amount due and unpaid hereunder shall
                                         be considered paid only when the corresponding USD amount shall have been received by
                                         the Receiving Party.

 

		(b)	With respect to any amount
                                         denominated in Argentine Pesos, the equivalent amount thereof in Dollars at a specific
                                         date shall be obtained by converting such amount into Dollars at the rate for the acquisition
                                         of USD offered by Banco de la Nación Argentina (“Cotización DIVISAS
                                         VENTA”) at the close of business of the Business Day immediately preceding the
                                         referred date.

 

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SECTION 4 

CLOSING

 

4.1       Closing.

 

Closing of the transactions
contemplated hereby (the “Closing”) shall take place in the offices of Seller in the Province of Neuquén
within ten (10) Business Days after fulfillment of the conditions to Closing set forth in Section 4.3 (other than those
conditions that by their terms are to be satisfied at the Closing, it being understood that the occurrence of the Closing shall
remain subject to the satisfaction or waiver in writing of such conditions at the Closing) or at such other time and/or place
as the Parties may agree in writing, provided that all of the obligations set forth in Section 4.2 and the conditions to
Closing are fulfilled, satisfied or waived at Closing in accordance with this Agreement.

 

4.2       Closing
Obligations.

 

At the Closing:

 

(a)         
the Seller:

 

		(i)	shall execute before the Notary
                                         Public the corresponding escrituras públicas (the form of which shall be
                                         mutually agreeable to the Seller and the Buyer and which shall be substantially similar
                                         to the Draft Public Deed) transferring the ownership of the Concessions to the Buyer;

 

		(ii)	shall execute before the Notary
                                         Public the corresponding escrituras públicas (the form of which shall be
                                         mutually agreeable to the Seller and the Buyer) or other necessary documentation transferring
                                         the Registered Property as of the Closing Date to the Buyer;

 

		(iii)	shall tender the operatorship
                                         of the Concessions and deliver the Property as of the Closing Date to the Buyer; and

 

		(iv)	shall issue and deliver to
                                         Buyer a certificate executed by a duly empowered officer of Seller confirming that conditions
                                         reflected by Seller’s representations & warranties made as of the Execution
                                         Date under any of Sections 5.1 (g) through to Sections 5.1 (m) remains
                                         true and accurate as of the Closing Date, or otherwise issue and deliver to Buyer a certificate
                                         specifying any changes occurred during the Interim Period in conditions reflected by
                                         Seller’s representations & warranties under any of Sections 5.1 (g)
                                         through to Sections 5.1 (m).

 

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(b)        
the Buyer:

 

		(i)	pay to the Seller the Purchase
                                         Price;

 

		(ii)	shall execute before the Notary
                                         Public the corresponding escrituras públicas (the form of which shall be
                                         mutually agreeable to the Seller and the Buyer and which shall be substantially similar
                                         to the Draft Public Deed) receiving the ownership of the Concessions from the Seller;

 

		(iii)	shall execute before the
                                         Notary Public the corresponding escrituras públicas (the form of which
                                         shall be mutually agreeable to the Seller and the Buyer) or other necessary documentation
                                         receiving the ownership of the Registered Property as of the Closing Date from the Seller;
                                         and

 

		(iv)	shall take over the operatorship
                                         of the Concessions and receive the Property as of the Closing Date from the Seller; and

 

		(c)	the Seller and the Buyer shall
                                         comply with all other matters decided in this Agreement that shall be performed at the
                                         Closing.

 

4.3        
Conditions to Closing.

 

		(a)	Conditions to the Buyer’s obligations.

 

The obligation
of the Buyer to consummate the acquisition of the Assets at the Closing is subject to the satisfaction (or waiver by the Buyer
in writing) as of the Closing Date of the following conditions:

 

		(i)	notice to the Parties by the
                                         corresponding Governmental Entity of the firm and unconditioned authorization to the
                                         assignment of all the Concessions set forth hereunder, as provided in Section 72 of the
                                         Law No. 17,319;

 

		(ii)	written certification issued
                                         by the corresponding Governmental Entity to the Seller attesting that no taxes are due
                                         by the Seller in connection with the Concessions, as provided in Section 74 of the Law
                                         No. 17,319;

 

		(iii)	the representations and warranties
                                         of the Seller in this Agreement shall be true and correct, in all material respects,
                                         as of the date hereof and as of the time of the Closing, except to the extent such representations
                                         and warranties expressly relate to an earlier date (in which case such representations
                                         and warranties shall be true and correct, in all material respects, on and as of such
                                         earlier date);

 

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		(iv)	the Seller shall have performed
                                         or complied in all material respects with all obligations and covenants required by this
                                         Agreement to be performed or complied with by the Seller by the time of the Closing;

 

		(v)	there shall not be pending or
                                         threatened any dispute, claim, demand, suit, action or proceeding, whether by the Government
                                         or any other Person (a) challenging or seeking to restrain or prohibit the purchase and
                                         sale of the Assets or any of the other transactions contemplated by this Agreement or
                                         seeking to obtain from the Buyer or any of its Affiliates in connection with the purchase
                                         and sale of the Assets any payments, charges, damages, or compensation that would be
                                         reasonably likely to materially reduce the benefits to the Buyer of the transactions
                                         contemplated hereunder or (b) seeking to prohibit the Buyer or any of its Affiliates
                                         from effectively controlling in any material respect the Assets; and

 

		(vi)	the Permits, authorizations,
                                         designations, approvals, consents and waivers of all third parties, necessary or required,
                                         if any, to effect the sale of the Assets and other transactions contemplated by this
                                         Agreement, other than such consents and waivers the absence of which, individually or
                                         in the aggregate, could not reasonably be expected to have a material adverse effect
                                         on the ability of either Party to consummate the transactions contemplated hereby or
                                         on the operation of the Assets shall have been obtained; provided, however, that
                                         no grant of any such Permit, authorization, designation, approval, consent or waiver
                                         shall be conditional on any additional commitment or obligation of the Buyer that would
                                         be reasonably likely to materially reduce the benefits to the Buyer of the transactions
                                         contemplated hereunder.

 

		(b)	Conditions to Seller’s Obligations.

 

The obligation
of the Seller to consummate the sale and delivery of the Assets to the Buyer at the Closing is subject to the satisfaction (or
waiver by the Seller in writing) as of the Closing of the following conditions:

 

		(iv)	notice to the Parties by the
                                         corresponding Governmental Entity of the firm and unconditioned authorization to the
                                         assignment of all the Concessions set forth hereunder, as provided in Section 72 of the
                                         Law No. 17,319;

 

		(ii)	written certification issued
                                         by the corresponding Governmental Entity to the Seller attesting that no taxes are due
                                         by the Seller in connection with the Concessions, as provided in Section 74 of the Law
                                         No. 17,319;

 

		(iii)	the representations and warranties
                                         of the Buyer made in this Agreement shall be true and correct in all material respects,
                                         as of the date hereof and as of the time of the Closing, except to the extent such representations
                                         and warranties expressly relate to an earlier date (in which case such representations
                                         and warranties shall be true and correct in all material respects on and as of such earlier
                                         date.

 

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		(iv)	the Buyer shall have performed
                                         or complied in all material respects with all obligations and covenants required by this
                                         Agreement to be performed or complied with by the Buyer by the time of the Closing;

 

		(v)	there shall not be pending or
                                         threatened in writing any suit, action or proceeding, whether by the Government or any
                                         other person, challenging or seeking to restrain or prohibit the purchase and sale of
                                         the Assets or any of the other transactions contemplated by this Agreement or seeking
                                         to obtain from the Seller or any of its Affiliates in connection with the purchase and
                                         sale of the Assets any payments, charges, damages, or compensation that would be reasonably
                                         likely to materially reduce the benefits to the Seller of the transactions contemplated
                                         hereunder; and

 

		(vi)	the Permits, authorizations,
                                         designations, approvals, consents and waivers of all third parties, necessary or required,
                                         if any, to effect the sale of the Assets and other transactions contemplated by this
                                         Agreement, other than such consents and waivers the absence of which, individually or
                                         in the aggregate, could not reasonably be expected to have a material adverse effect
                                         on the ability of either party to consummate the transactions contemplated hereby shall
                                         have been obtained; provided, however, that no grant of any such Permit, authorization,
                                         designation, approval, consent or waiver shall be conditional on any commitment or obligation
                                         of the Seller that would be reasonably likely to materially reduce the benefits to the
                                         Seller of the transactions contemplated hereunder.

 

4.4       Frustration
of Closing Conditions.

 

Subject to Section
9(1)(b)(iii), neither the Buyer nor the Seller may rely on the failure of any condition set forth in Section 4.3 to
be satisfied if such failure was caused by such Party’s failure to act in good faith or to use all reasonable commercial
efforts to cause the Closing to occur.

 

SECTION
5

REPRESENTATIONS
AND WARRANTIES

 

5.1       Seller
Representation and Warranties:

 

The Seller hereby
represents and warrants to the Buyer as at the Execution Date and at Closing Date (except as otherwise provided in the specific
clause) as follows:

 

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		(a)	Organization and Standing.

 

Seller is
a sociedad anónima duly incorporated, validly existing and in good standing under the Law of Argentina and is duly
registered in the Republic of Argentina and has the power to own its assets and carry on its business as it is being conducted.

 

		(b)	Authority.

 

The Seller
has all requisite corporate power and authority to enter into this Agreement, to perform its obligations hereunder and to consummate
the transactions contemplated hereby. All corporate acts required to be taken by the Seller to authorize the execution, delivery
and performance of this Agreement and the consummation of the transactions contemplated hereby, have been duly and properly taken,
and no further shareholder action on the part of the Seller is required. This Agreement has been duly executed and delivered by
the Seller and constitutes a legal, valid and binding obligation of the Seller, enforceable against the Seller in accordance with
its terms, subject to applicable bankruptcy, insolvency or similar Law affecting creditors’ rights generally and general
principles of equity.

 

		(c)	No Conflicts.

 

The execution
and delivery of this Agreement by the Seller does not, and the consummation of the transactions contemplated hereby and compliance
with the terms hereof shall not, conflict with, or result in any violation of or default (with or without notice of lapse of time,
or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or loss of a material benefit
under, or result in the creation of any Encumbrance of any kind upon any of the Assets at Closing under, any provision of:

 

		(i)	the charter, the by-laws or equivalent governing instruments
                                         of the Seller;

 

		(ii)	any note, bond, mortgage, indenture,
                                         deed of trust, license, lease, contract, commitment, agreement or arrangement to which
                                         the Seller are a party or to which any of the Assets is subject; or

 

		(iii)	any judgment, order, decree
                                         or Law applicable to the Seller or the Assets;

 

and which
have or could reasonably be expected to have a material adverse effect on the ability of the Seller to consummate the transactions
contemplated hereby.

 

		(d)	Title to the Assets

 

Seller is
the sole and beneficial owner of the Assets and the Assets are free and clear of Encumbrances, except for any statutory royalties
or rights of Governmental Entities in Argentina under the Concessions.

 

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		(e)	Bankruptcy

 

There are
no bankruptcy, reorganization or arrangement proceedings pending against, or, to the knowledge of the Seller, threatened by any
third party or by any judicial or governmental authority due to insolvency or lack of compliance of Seller’s obligations,
against the Seller; and

 

		(f)	Brokerage Fees and Commissions

 

Neither the
Seller nor any Affiliate of the Seller has incurred any obligation or entered into any agreement for any investment banking, brokerage
or finder’s fee or commission in respect of the transactions contemplated by this Agreement for which the Buyer shall incur
any liability.

 

		(g)	Litigation.

 

At Execution
Date, and except as set forth in Schedule 5.1(g), the Seller has not received any notification regarding the existence
of any litigation, dispute or arbitration proceedings, in progress or filed involving directly or indirectly the Assets, and which
would, individually or in the aggregate, if adversely ruled against Seller, prevent, delay or impair the consummation of the transactions
contemplated in this Agreement.

 

		(h)	Compliance.

 

At Execution
Date, and except as disclosed in Schedule 5.1(h) and to the best of its knowledge, Seller has complied with all its obligations
under the Concessions and other concession-related agreements, other than those which breach could reasonably be expected to have
a material adverse effect on the Concessions. No act or omission by the Seller has occurred at the Execution Date which, to the
knowledge of the Seller, could be expected to result in a material breach or termination of any of the Concessions.

 

		(i)	Contracts with Suppliers.

 

All of Sellers
contracts, purchase orders and/or business relations in effect at the Execution Date with any vendors, providers or contractors
serving the operations of Seller in the Concessions are listed in Schedule 1.2(Contracts with Suppliers). At the Execution
Date, Seller has not received any notification regarding the existence of a breach of or default of any of the Contracts with
Suppliers.

 

		(j)	Employees.

 

All of Seller
Employees are identified specifically in Schedule 1.2(Employees). Moreover, at the Execution Date, Seller is not in breach
of or default of any of its labor obligation in relation to any Employees.

 

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		(k)	Environmental.

 

At the Execution
Date, except as set forth in Schedule 5.1(k), Seller has not received any notification with respect to a breach of an Environmental
Law which is in progress and which would affect the transfer of the Assets.

 

		(l)	Permits.

 

Except as
provided in Sections 4.3 (a) (i) and (ii) and Section 6.3(d)(ii), at the Execution Date Seller has not received
any notification with respect to the existence of other Permits, authorizations, designations, approvals, consents and waivers
of any third parties which are necessary or required to effect the sale of the Assets and other transactions contemplated by this
Agreement, other than such consents and waivers the absence of which, individually or in the aggregate, could not reasonably be
expected to have a material adverse effect on the ability of either Party to consummate the transactions contemplated hereby or
on the operation of the Assets shall have been obtained.

 

		(m)	Royalties and canons.

 

At the Execution
Date, Seller has timely assessed and paid, in accordance with, and subject to the terms provided under applicable legislation,
all royalties and canons sworn statements related to the Concessions, other than those which breach could not reasonably be expected
to have a material adverse effect on the Concessions.

 

		(n)	Investment Obligations under
                                         the Extension Agreement.

 

Until the
Execution Date, Seller has fulfilled all development investments and exploration investments in each of the Concessions and incurred
all other costs and expenses required to satisfy all investment obligations under the Extension Agreement for all accrued periods.

 

		(o)	Wells

 

At the Execution
Date, to the best of Seller’s knowledge, all Wells existing in the Concession are those listed in Schedule 5.1(o).

 

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		5.2	Buyer Representation and
                                         Warranties:

 

The Buyer hereby
represents and warrants to the Seller as at the Execution Date and at Closing Date as follows:

 

		(a)	Organization and Standing.

 

The Buyer
is a company duly organized, validly existing and in good standing under the Law of Bermuda, with a branch registered in the City
of Buenos Aires, Argentina. The Buyer has full corporate power and authority to own, lease or otherwise hold the Assets and conduct
its business in the manner presently conducted, is duly qualified to conduct business in Argentina and each other jurisdiction
where the nature of its business or its ownership or leasing of assets makes such qualification necessary, and meets all and every
necessary legal, financial and technical qualities and requirements required under applicable law in order to become titleholder
of the Assets.

 

		(b)	Authority.

 

The Buyer
has all requisite corporate power and authority to enter into this Agreement, to perform its obligations hereunder and to consummate
the transactions contemplated hereby. All corporate acts required to be taken by the Buyer to authorize the execution, delivery
and performance of this Agreement, and the consummation of the transactions contemplated hereby have been duly and properly taken,
and no further corporate action on the part of the Buyer is required. This Agreement has been duly executed and delivered by the
Buyer and constitutes a legal, valid and binding obligation of the Buyer, enforceable against the Buyer in accordance with its
terms, subject to applicable bankruptcy, insolvency or similar Law affecting creditors’ rights generally and general principles
of equity.

 

		(c)	No Conflicts.

 

The execution
and delivery of this Agreement do not and shall not, and the consummation of the transactions contemplated hereby and compliance
with the terms hereof shall not, (i) conflict with, or result in any violation of or default (with or without notice or lapse
of time, or both) under, or (ii) give rise to a right of termination, cancellation or acceleration of any obligation or loss of
a material benefit under, or (iii) result in the creation of any Encumbrance of any kind upon any of the assets of the Buyer under,
any provision of:

 

		(i)	the charter, the by-laws or equivalent governing instruments
                                         of the Buyer;

 

		(ii)	any note, bond, mortgage, indenture,
                                         deed of trust, license, lease, contract, commitment, agreement or arrangement to which
                                         the Buyer are a party or to which any of the Assets is subject; or

 

		(iii)	any judgment, order, decree
                                         or Law applicable to the Buyer or the Assets;

 

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and which
have or could reasonably be expected to have a material adverse effect on the ability of the Seller to consummate the transactions
contemplated hereby.

 

		(d)	Availability and source
                                         of Funds

 

The Buyer
has, or at the Closing Date or at other different payment dates shall have, cash available sufficient to enable it to consummate
the transactions contemplated by this Agreement, including but not limited to payment of the Purchase Price.

 

The funds
applied and to be applied to the payment of the Purchase Price and the Security Deposit do not and will not represent proceeds
of crime for the purpose of any applicable anti-money laundering or anti-terrorism Law to with it is subject, and it is in compliance
with, and has not previously violated, any applicable anti-money laundering, anti-corruption and anti-terrorism Law to with it
is subject.

 

		(e)	Consents

 

Except for
consents or approvals of or filings with applicable Governmental Entities in connection with the assignment of the Assets pursuant
to this Agreement, no consent, approval, authorization or permit of, waiver by, or filing with or notification to, any Person
is required for or in connection with the execution and delivery of this Agreement by the Buyer, or for or in connection with
the consummation of the transactions and performance of the terms and conditions contemplated hereby by the Buyer.

 

		(f)	Brokerage Fees and Commissions

 

Neither the
Buyer nor any Affiliate of the Buyer has incurred any obligation or entered into any agreement for any investment banking, brokerage
or finder’s fee or commission in respect of the transactions contemplated by this Agreement for which the Seller shall incur
any liability.

 

		(g)	Knowledgeable Investor

 

The Buyer
is an experienced and knowledgeable investor in the oil and gas business, the Buyer shall be able to bear the economic risks of
its acquisition and ownership of the Assets and is capable of evaluating the merits and risks of the Assets and the Buyer’s
acquisition and ownership thereof. Prior to entering into this Agreement, the Buyer was advised by its counsel and such other
persons it has deemed appropriate concerning this Agreement, provided that the Buyer’s consultations and investigations
shall not relieve the Seller of any liability with respect to its representations and warranties hereunder. The Buyer has relied
solely on an independent investigation and evaluation of, and appraisal and judgment with respect to, the geologic and geophysical
characteristics of the Assets, the estimated reserves recoverable therefrom, and the price and expense assumptions applicable
thereto. Without limiting the generality of the foregoing, and notwithstanding any other provision within this Agreement to the
contrary, the Buyer acknowledges and agrees that Seller makes no representations or warranties other than those expressly made
herein, and specifically that the Seller makes no representations or warranties as to (i) the amount of petroleum, gas, condensate
or other reserves attributable to the Assets, (ii) any geological, geophysical, engineering, economic or other interpretations,
forecasts or evaluations, (iii) any forecast of expenditures, budgets or financial projections, or (iv) the condition or producibility
of reservoirs.

 

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		(h)	Bankruptcy

 

There are
no bankruptcy, reorganization or arrangement proceedings pending against, or, to the knowledge of the Buyer, threatened by any
judicial or governmental authority due to insolvency or lack of compliance of the Buyer’s obligations, against the Buyer.

 

		(i)	Qualification

 

The Buyer
is duly qualified under applicable law to become the holder of the Concessions and the Property as of the Closing Date, and has
all the Permits required therefor.

 

		(j)	Permits

 

Except as
provided in Sections 4.3 (b) (i) and (ii) and Section 6.3(d)(ii), at the Execution Date Buyer has not received any
notification with respect to the existence of other Permits, authorizations, designations, approvals, consents and waivers of
any third parties which are necessary or required to effect the sale of the Assets and other transactions contemplated by this
Agreement, other than such consents and waivers the absence of which, individually or in the aggregate, could not reasonably be
expected to have a material adverse effect on the ability of either Party to consummate the transactions contemplated hereby or
on the operation of the Assets shall have been obtained.

 

 

SECTION
6

 COVENANTS

 

		6.1	Covenants
                                         of the Seller.

 

Between the Execution
Date and Closing Date the Seller covenants and agrees as follows:

 

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		(a)	Further Assurances.

 

The Seller
shall promptly notify the Buyer of, and furnish to the Buyer any information of any event or condition between the Execution Date
and Closing Date that (i) would have a material adverse effect on the Assets, or (ii) would cause any of the conditions to the
Buyer’s obligation to consummate the purchase and sale of the Assets not to be fulfilled. Furthermore, Seller shall provide
to Buyer, as soon as reasonably possible from the receipt by Seller: (i) any written notice of default or termination received
or given by Seller in connection with the Concessions; (ii) any written notice of any material pending or threatened claim, demand,
action, suit, inquiry or proceeding received or given by Seller related to the Concessions; and (iii) any information relating
to any material damage, destruction or loss to major assets under the Concessions.

 

		(b)	Conduct of Business.

 

The Seller
shall not at any time between the Execution Date and Closing Date: (i) amend, novate, relinquish, supplement or terminate the
Concessions (or agree to do so), (ii) waive or agree to waive any of its rights or remedies under the Concessions insofar as such
rights and remedies relate to or materially affect the Assets; and (iii) create any Encumbrances over any of the Assets.

 

Seller shall
carry on business with respect to the Concessions as a reasonable and prudent operator in Argentina and in a manner consistent
with Seller’s past practices, and shall comply with all its material obligations under the Concessions.

 

Seller shall
not terminate any labor contract with an Employee without just cause. Seller should comply with its labor and social security
obligations in relation with all its personnel related to the Concessions.

 

Seller shall
maintain in force and effect the Contracts with Suppliers, except for those cases which it deem reasonable, timely and convenient
to modify or terminate them, and/or to execute new Contracts with Suppliers, acting as a reasonable and prudent operator. Seller
shall notify Buyer promptly of any modification to the Schedule 1.2(Contracts with Suppliers) as provided herein.

 

		(c)	Seller shall inform Buyer with
                                         five (5) calendar days ́ advance notice and allow the Buyer to participate in any
                                         decision related to the Assets to commit capital expenditures that exceed the amount
                                         of at least USD 100,000 per month.

 

		(d)	Seller shall allow Buyer to
                                         appoint, at its sole risk and expense, up to two (2) representatives to make contact
                                         with the operations of the Assets, in coordination with a representative to be appointed
                                         by Seller, to inspect the field operations in the Concessions and to attend the daily
                                         production meeting during the Interim Period. In case the Interim Period extends past
                                         3 months, the number of Buyer representatives shall increase to four (4).

 

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		(e)	On a monthly basis, within
                                         the first ten (10) calendar days, Seller will send Buyer financial updates including
                                         information regarding sales, operational and capital expenditures for such period.

 

		(f)	Upon previous coordination
                                         between the Parties, Seller shall allow Buyer to visit the Concession ́s area and
                                         inspect the Assets during normal business hours.

 

		(g)	Seller shall provide Buyer,
                                         as soon as reasonably possible and on a fortnightly basis, any information reasonably
                                         requested by Buyer related to the Assets.

  

		6.2	Covenants
                                         of the Buyer.

 

Immediately after
the execution of this Agreement, the Buyer (i) shall use its reasonable commercial efforts to be qualified under Law to own the
Assets and (ii) shall use its reasonable commercial efforts to comply with all necessary governmental requirements regarding corporate
guarantees as may be required for its ownership of the Assets, including those requirements in Section 6.3(d).

 

		6.3	Mutual
                                         Covenants.

 

The Seller and the
Buyer covenant and agree as follows:

 

		(a)	Cooperation.

 

The Buyer
and the Seller shall cooperate with each other, and shall cause their officers, employees, agents, Affiliates and representatives
to cooperate with each other, for the period reasonably necessary following the Execution Date of this Agreement to ensure the
orderly transition of the Assets from the Seller to the Buyer and to minimize any disruption to the respective businesses of the
Seller or the Buyer that might result from the transactions contemplated hereby. After the Execution Date and up to Closing Date,
upon reasonable prior written notice by one of the Parties, the other Party shall furnish or cause to be furnished to the requesting
Party, any information and assistance relating to the Assets which is reasonably necessary to ensure the orderly transition of
the Assets. After the Closing, upon reasonable written notice, the Buyer and the Seller shall furnish or cause to be furnished
to each other and their employees, counsel, Affiliates and representatives, original technical records available to the delivering
Party, and access, during normal business hours, to such information and assistance relating to the Assets as is reasonably necessary
for financial reporting and accounting matters relating to the Assets.

 

		(b)	Publicity.

 

No press
release or written public announcements concerning the transactions contemplated hereby shall be issued by either Party or its
Affiliates without the prior written consent of the other Party (which consent shall not be unreasonably withheld), except as
such release or announcement may be required by Law or the rules or regulations of any securities exchange having jurisdiction
over the Party or its Affiliates, in which case the Party required to make the release or announcement shall allow to the extent
practicable, the other Party reasonable time to comment on such release or announcement in advance of its issuance.

 

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		(c)	Reasonable Commercial Efforts.

 

The Buyer
and the Seller shall use their respective reasonable commercial efforts to cause the Closing to occur as soon as possible.

 

		(d)	Consents and Waivers.

 

		(i)	The Seller and the Buyer shall
                                         coordinate their efforts and shall use their respective commercially reasonable efforts
                                         to obtain necessary written consents, waivers, authorizations, orders, clearances, and
                                         approvals (including any post-Closing approvals) from, and to make all required registrations,
                                         declarations and filings with, and notices to, any third parties, including Governmental
                                         Entities (including in connection with any applicable Antirust Law) to effect, or in
                                         connection with the sale of the Assets and other transactions contemplated under this
                                         Agreement, other than such consents, waivers, authorizations, orders, clearances, and
                                         approvals the absence of which, individually or in the aggregate, could not reasonably
                                         be expected to have a material adverse effect on the ability of either party to consummate
                                         the transactions contemplated hereby or on the Assets, provided, however, that
                                         neither Party shall be required to take any action which would have a material adverse
                                         effect upon it or any of its Affiliates or to make any material monetary expenditures.
                                         Parties shall duly prepare and execute a letter to be filed before the corresponding
                                         Governmental Entity requesting its authorization for the assignment and transfer of the
                                         Concessions in favor of Buyer as provided in Section 72 of the Law No. 17,319 in the
                                         form attached as Schedule 6.3(d).

 

		(ii)	Each of the Parties hereto
                                         shall (and shall cause its Affiliates to) as soon as practicable but in no event later
                                         than one (1) calendar week following the Closing Date, take all actions necessary to
                                         make the filings required under the Argentine Antitrust Law. In connection with the actions
                                         and procedures referenced in this Section 6.3(d), each Party shall: (A) promptly
                                         and fully inform the other Party of any written or material oral communication received
                                         from or given to any Governmental Entity, (B) permit the other Party to review any submission
                                         required to be made by one of the Parties to any Governmental Body, (C) consult with
                                         the other Party in advance of any meeting, conference or material discussion required
                                         by any Governmental Entity and (D) if permitted to do so by the relevant Governmental
                                         Entity, provide the other Party the opportunity to attend and participate in any such
                                         meetings, conferences and discussions. Each Party shall be responsible for its own costs
                                         and expenses in connection with the Argentine Antitrust Approval, provided however that
                                         the costs of translating this Agreement into Spanish shall be borne in equal halves.
                                         For the avoidance of doubt, Buyer acknowledges that the Argentine Antitrust Approval
                                         shall not be a condition to Closing and agrees to assume all the risks related to the
                                         Argentine Antitrust Approval (or the lack thereof) and that Seller shall not be required
                                         to return the Purchase Price in the event the Argentine Antitrust Approval is delayed,
                                         rejected or conditioned (a "Negative Antitrust Decision"). Buyer shall
                                         be solely responsible to perform any and all actions required by a Negative Antitrust
                                         Decision at its own risk and cost. Seller shall not be liable for any losses arising
                                         out of a Negative Antitrust Decision.

 

    22

     

    

 

		(e)	Further Assurances.

 

From time
to time, as and when requested by either Party hereto, the other Party shall execute and deliver, or cause to be executed and
delivered, all such documents and instruments and shall take, or cause to be taken, all such further or other actions, as shall
be reasonably necessary to consummate the transactions contemplated by this Agreement.

 

		(f)	Warranty as to No Payments,
                                         Gifts and Loans.

 

Neither Party
nor any of their respective Affiliates or agents has made or shall make, with respect to this Agreement, the Assets or operations
conducted in respect thereof or any business in Argentina related thereto, any offer, payment, promise to pay, or authorization
of payment of any money, or any offer, gift, promise to give, or authorization of the giving of anything of value, which would
cause any of the Parties hereto, or any of their respective Affiliates (with respect to business activities in Argentina) to have
violated or be in violation of any Law.

 

		(g)	Confidentiality.

 

This Agreement
and its terms shall be held confidential by the Parties. Notwithstanding the foregoing sentence, each Party shall be entitled
to disclose this Agreement and its terms (i) when required by law, (ii) when required by the rules or regulations of any stock
exchange having jurisdiction over the Parties or its Affiliates, (iii) to its Affiliates, (iv) to its and its Affiliates’
employees, directors and officers, or (iv) to its and its Affiliates’ consultants, counsel, auditors or financial institutions,
provided that, in the case of items (iii), (iv) and (v) the disclosing Party shall be liable in case of the breach by the receiving
Party to the terms of this clause.

 

		(h)	Liability.

 

Each Party
shall be liable to the other Party for any breach of a representation, warranty, covenant or agreement made hereunder, subject
to the limitations provided herein.

 

    23

     

    

 

		(i)	Contracts
                                         with Suppliers.

 

After
the Execution Date and reasonably in advance of the estimated Closing Date, Seller shall request the written consent of its counterparties
under the Contracts with Suppliers, and both Parties, together with each of such counterparties (subject to each counterparty’s
consent), shall execute an agreement substantially similar to the form of agreement attached in Schedule 6.3(i), whereby,
subject to Closing having occur, all rights and obligations of Seller under the Contracts with Suppliers shall be transferred
to the Buyer as provided in Section 1636 of the Argentine National Civil and Commercial Code. 

 

Within
two (2) Business Days after Closing, Seller shall communicate to each of its counterparties under the Contracts with Suppliers
that Closing has occurred and therefore, that the executed agreement above mentioned has come into full force and effect.

 

Each
Party shall use its reasonable commercial efforts to cause this assignment, assumption and replacement to occur as soon as possible
(subject its effectiveness only to Closing). Seller shall not guarantee (and Buyer hereby relinquishes and waives such guarantee
to the fullest extent permitted by law) the existence and validity of the Contracts with Suppliers.

 

Buyer
acknowledges that the Contracts with Suppliers list described in Schedule 1.2(Contracts with Suppliers) may be modified
in cases in which Seller deem reasonable, timely and convenient to modify or terminate them, and/or to execute new Contracts with
Suppliers, acting as a reasonable and prudent operator. Seller shall notify Buyer promptly of any modification to the Schedule
1.2(Contracts with Suppliers) as provided herein.

 

Buyer
shall be liable for and shall indemnify, defend fully and hold Seller harmless against, all claims from the suppliers and the
suppliers ‘personnel which arise out of or in connection with any event, incident, act or omission occurring on or after
the Economic Date.

 

Seller
shall be liable for and shall indemnify, defend fully and hold Buyer harmless against, all claims from the suppliers and the suppliers
‘personnel, which arise out of or in connection with any event, incident, act or omission occurring before the Economic
Date.

 

		(j)	Labor
                                         Matters.

 

Within two (2) Business Days
after fulfillment of the conditions to Closing set forth in Section 4.3 (other than those conditions that by their terms
are to be satisfied at the Closing), both Parties shall simultaneously execute with each of the Employees listed in Schedule
1.2(Employees) an agreement substantially similar to the form of agreement attached in Schedule 6.3 (j), and to honor
the commitments assumed therein in a timely manner. Buyer shall not terminate without just cause or without previous agreement
with the relevant labor union any of the Employees listed in Schedule 1.2(Employees) for a period of six (6) months as
from the execution of the aforementioned agreement.

 

    24

     

    

 

Pending Closing and also after
Closing, the Seller and the Buyer shall obtain the Ministry of Labor approvals (homologacion) or registration, as the case
may be, of all the agreements entered with each of the Employees as provided above as soon as possible after Closing.

 

Buyer shall be liable for and
shall indemnify, defend fully and hold Seller harmless against, all third party claims in respect of any labor contract between
(x) either the Seller or the Buyer, and (y) any Employee, which arise out of or in connection with any event, incident, act or
omission occurring on or after the Closing Date. Seller shall be liable for and shall indemnify, defend fully and hold Buyer harmless
against, all third party and any Employee claims in respect of any labor contract between (x) either the Seller or the Buyer,
and (y) any Employee, which arise out of or in connection with any event, incident, act or omission occurring before the Closing
Date. Each Party shall notify the other Party as soon as reasonably practicable after receiving notice of any claim, demand or
action that may be presented to or served upon each of them as described herein, and shall afford the other Party full opportunity
to assume the defense of such claim, demand or action.

 

		(k)	Surface Rights and Permits.

 

If the laws or instruments governing
any Surface Rights or Permits require any consent from or notice to any counterparty or authority for their terms to be enforceable
by Buyer as a successor in interest of Seller in the Concessions, then Seller agrees to use its reasonable commercial efforts
to obtain any such consents and/or provide any such notices no later than five (5) Business Days after the Closing Date.

  

SECTION
7

 ASSIGNMENT

 

This Agreement and
the rights and obligations hereunder may not be assigned or transferred by the Buyer or the Seller; provided that nothing herein
shall prevent any corporate reorganization, merger or sale of the shares of either Party. For the avoidance of doubt, this Section
7 only pertains to assignment of rights and obligations from the Execution Date to the Closing Date.

 

SECTION
8

NO THIRD
– PARTY BENEFICIARIES

 

This Agreement is
for the sole benefit of the Parties hereto and their successors and permitted assignees, and nothing herein expressed or implied
shall give or be construed to give to any Person, other than the Parties hereto, and their successors and assignees, any legal
or equitable rights or obligations hereunder.

 

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SECTION
9

 TERMINATION

 

		9.1	This Agreement may be terminated
                                         at any time prior to the Closing Date:

 

		(a)	by mutual written consent of
                                         the Parties;

 

		(b)	by either the Seller or the
                                         Buyer, duly giving notice in writing to the other Party of its intention to terminate
                                         this Agreement:

 

		(i)	if there shall have been any
                                         breach by the other Party of any representation, warranty, covenant or agreement set
                                         forth in this Agreement, which breach (1) would give rise to the failure of a condition
                                         to the Closing hereunder and (2) either (A) cannot be cured or (B) if it can be cured,
                                         has not been cured prior to the first to occur of (x) 5:00 p.m. on the date that is 20
                                         Business Days following receipt by the breaching Party of written notice of such breach
                                         or (y) 5:00 p.m. on the date immediately preceding the Termination Date;

 

		(ii)	if a court of competent jurisdiction
                                         or other Governmental Entity shall have issued an order, decree or ruling or taken any
                                         other action (which order, decree or ruling the Seller and the Buyer shall use their
                                         reasonable commercially efforts to lift), in each case permanently restraining, enjoining
                                         or otherwise prohibiting the transactions contemplated by this Agreement and such order,
                                         decree, ruling or other action shall have become final and non-appealable; provided,
                                         however, that the right to terminate this Agreement under this clause shall not be available
                                         to any Party who did not use reasonable efforts to lift any such order, decree, ruling
                                         or other action; or

 

		(iii)	if the Closing shall not have occurred
                                         on or before 5:00 p.m. on the date falling eight (8) months after the execution hereof
                                         (the “Termination Date”); provided, however, that the right to terminate
                                         this Agreement under this clause shall not be available to any Party whose breach of
                                         this Agreement has been the cause of, or resulted in, the failure of the Closing to occur
                                         on or before such date.

 

    26

     

    

 

9.2       In
the event of the termination of this Agreement by either the Seller or the Buyer, this Agreement shall forthwith become void and
there shall be no liability or obligation hereunder on the part of the Seller or the Buyer or their respective Affiliates, directors,
officers, employees or stockholders, except for the provisions of:

 

(a)        Section
6.3(b) relating to publicity;

 

(b)        Section
6.3(g) relating to confidentiality obligations;

 

(c)       this
Section 9;

 

(d)       Section
12 relating to certain expenses;

 

(e)       Section
14 relating to notices;

 

(f)       Section
17 relating to governing law; and

 

(g)       Section
18 relating to dispute resolution.

 

9.3       Nothing
in this Section 9 shall be deemed to release either Party from any liability for any breach by such Party of the terms and provisions
of this Agreement or to impair the right of either Party to compel specific performance by the other Party of its obligations
under this Agreement.

 

9.4       Notwithstanding
the foregoing Section 9.2,

 

		(a)	if this Agreement terminates
                                         pursuant to Section 9.1(b)(i) being the Seller the breaching party, the Buyer
                                         shall be entitled to (i) the reimbursement by Seller of the Security Deposit within the
                                         next 15 Business Days of such termination, (ii) an amount equal to the sum of all reasonable
                                         out-of-pocket expenses duly evidenced (including all fees and expenses of counsel, accountants,
                                         investment bankers, experts and consultants to a party hereto and its Affiliates) incurred
                                         by Buyer or on their behalf in connection with or related to the authorization, preparation,
                                         negotiation, execution and performance of this Agreement, and (iii) interest accrued
                                         by the Security Deposit since receipt thereof by Seller until reimbursement to Buyer
                                         at a rate per annum equal to 80 basis points less transactional costs (i.e. transfer
                                         fees, etc.);

 

		(b)	if this Agreement terminates
                                         pursuant to Section 9.1(b)(i) but only in the event of Buyer ́s material
                                         breach of an essential obligation of Buyer hereunder, the Seller shall be entitled to
                                         termination damages (“Termination Damages”) for an amount equal to the Security
                                         Deposit, which the Parties have estimated and agreed in advance as reasonable compensation.
                                         The Seller shall be entitled to set off the payment of the Termination Damages against
                                         the Security Deposit; and

 

    27

     

    

 

		(c)	if this Agreement terminates
                                         other than for Buyer ́s material breach of an essential obligation of Buyer hereunder
                                         the Seller shall reimburse the Buyer the Security Deposit within the next 15 Business
                                         Days of such termination by wire transfer, in immediately available funds, in USD and
                                         to an account specified by the Buyer.

 

SECTION
10

 TAXATION

 

Notwithstanding
any other provisions of this Agreement to the contrary, all transfer, documentary, sales, use, stamp, registration and other similar
Taxes and fees (including any penalties and interest) incurred in connection with the transactions contemplated hereunder shall
be borne by Seller or Buyer as required by applicable law.

 

Buyer shall pay
any applicable VAT. The Parties acknowledge that the sale and purchase of the Property as of the Closing Date is subject to VAT.

 

If stamp tax is
payable as a result of the transactions contemplated hereunder, the Parties shall support such tax, together with any applicable
interest, penalties and attorneys fees in equal halves. However, Seller shall pay the tax arising thereof entirely by the due
date, and Buyer shall reimburse the fifty percent (50%) of the amount paid within two (2) Business Days as from the receipt of
the notification from Seller requesting the reimbursement.

  

SECTION
11

PROVISIONS
RELATING TO REPRESENTATION AND COVENANTS

 

		11.1	Survival.

 

The Parties agree
that the representations, warranties, covenants and agreements in this Agreement shall survive the execution and delivery of this
Agreement and the Closing hereunder and shall terminate one (1) year after the Closing.

 

		11.2	Limitation on Liability.

 

No
Party shall have any liability for any punitive, incidental, consequential, special, exemplary or consequential damages, lost
profits or diminution in value, arising in connection with or with respect to this Agreement, except in case of gross negligence
or wilful misconduct.

 

Save
to the extent that any liability arises due to fraud and save for the payment obligations provided in Section 3, the liability
of Seller and the Buyer in respect of all claims whatsoever (including all associated costs and expenses) under this Agreement
shall not exceed an amount equivalent to the Purchase Price.

 

    28

     

    

 

SECTION
12

 EXPENSES

 

Whether or not the
transactions contemplated hereby are consummated, and except as otherwise specifically provided in this Agreement, all costs and
expenses incurred in connection with this Agreement and the transactions contemplated hereby, including the fees and expenses
of all professional advisors, shall be paid by the Party incurring such costs or expenses. For the avoidance of doubt, the Notary
Public fees shall be paid exclusively by the Buyer.

 

SECTION
13

AMENDMENTS
AND WAIVERS

 

No amendment or
waiver in respect of this Agreement shall be effective unless, in the case of an amendment, such amendment shall be in writing,
designated an amendment and signed by both Parties hereto, and, in the case of a waiver, such waiver shall be in writing, designated
a waiver, specifically refer to this Agreement and be signed by the Party against whom such waiver is sought to be enforced.

 

SECTION
14

 NOTICES

 

Any notice required
to be given hereunder shall be sufficient if in writing and sent by facsimile transmission (providing confirmation of transmission
by the transmitting equipment) or e-mail of a .pdf attachment (with confirmation of receipt by non-automated reply e-mail from
the recipient); provided, that any notice received by facsimile or e-mail transmission or otherwise at the addressee’s location
on any Business Day after 5:00 p.m. (local time) shall be deemed to have been received at 9:00 a.m. (local time) on the next Business
Day), by reliable overnight delivery service (with proof of service), hand delivery or certified or registered mail (return receipt
requested and first-class postage prepaid), addressed as follows (or at such other address for a party as shall be specified in
a notice given in accordance with this Section 14):

 

		(i)	if to the Seller,

 

Pluspetrol S.A.

Lima 339

Buenos Aires, Argentina

		Attention:	Mr. Claudio Vázquez

		Facsimile:	(54 11) 4340-2351

		Email:	cvazquez01@pluspetrol.net

 

    29

     

    

 

		(ii)	if to the Buyer,

 

GeoPark Argentina
Ltd.

Florida 981,
Piso 2

Buenos Aires, Argentina

		Attention:	Mr. Guillermo Portnoi

		Facsimile:	(54 11) 4312-9146

		Email:	gportnoi@geo-park.com

 

SECTION
15

 COUNTERPARTS

 

This Agreement may
be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become effective
when one or more such counterparts have been signed by each of the Parties and delivered to the other Party.

 

SECTION
16

ENTIRE
AGREEMENT

 

This Agreement together
with its Schedules and Exhibits contain the entire agreement and understanding between the Parties hereto with respect to the
subject matter hereof and supersede all prior agreements and understandings relating to such subject matter. Neither Party shall
be liable or bound to any other Party in any manner by any representations, warranties or covenants relating to such subject matter
except as specifically set forth herein (including this Agreement and the Exhibits attached hereto).

 

SECTION
17

GOVERNING
LAW

 

This
Agreement is governed by and shall be constructed in accordance with the Law of Argentina exclusive of any conflict of law principles
that could require or permit application of the substantive law of any other jurisdiction.

 

SECTION
18

DISPUTE
RESOLUTION

 

		(a)	Arbitration.

 

Except as
provided under Section 3.5, any dispute arising out of or relating to this Agreement shall be exclusively and finally settled
by arbitration in accordance with this Section 18.

 

		(b)	Rules of Arbitration.

 

The arbitration
shall be conducted in accordance with the Rules of Arbitration (the “ICC Rules”) of the International Chamber
of Commerce (the “ICC”) in effect as of the date of the initiation of the arbitration, except to the extent
that the ICC Rules conflict with the provisions of this Section 18, in which event the provisions of this Section 18
shall control.

 

    30

     

    

 

		(c)	Arbitrators.

 

The arbitration
shall be heard and determined by three (3) arbitrators. Each Party shall appoint an arbitrator of its choice within thirty (30)
days of the submission of a request for arbitration, and the two so appointed shall appoint the third arbitrator within thirty
(30) days following the appointment by the Parties. If the two arbitrators appointed by the Parties cannot reach agreement on
a presiding arbitrator of the tribunal and/or one Party fails or refuses to appoint its Party-appointed arbitrator within the
prescribed period, the appointing authority for the implementation of such procedure shall be the Court of Arbitration of the
ICC, who shall appoint an independent arbitrator who does not have any financial interest in the dispute, controversy or claim.
All decisions and awards by the arbitration tribunal shall be made by majority vote.

 

		(d)	Location; Language.

 

The arbitration
shall be conducted in the City of Buenos Aires, Argentina, or such other place as mutually agreed by the Parties to the arbitration
proceedings, and shall be conducted in Spanish; provided that, any witnesses whose native language is not Spanish may give testimony
in their native language, with simultaneous translation into Spanish by a translator duly appointed by the appointed arbitrator
at the expense of the Party on whose behalf such witness testifies.

 

		(e)	Arbitration at Law.

  

 The arbitrators shall render their award based upon applicable Law.

 

		(f)	Binding Decision and Award.

 

The decision
of the arbitrators shall be final and binding upon the Parties to the arbitration proceedings. The Parties hereto hereby waive
to the extent permitted by law any rights to appeal or to review of such award by any court or tribunal. The Parties hereto agree
that the arbitral award may be enforced against the Parties to the arbitration proceedings or their assets wherever they may be
found and that a judgment upon the arbitral award may be entered in any court having jurisdiction thereof.

 

		(g)	Arbitration and Arbitrator’s
                                         Fees, Costs and Expenses.

 

All arbitration
and arbitrator’s fees, costs and expenses shall be borne as decided by the arbitrators in the arbitration award.

 

    31

     

    

 

SECTION
19

 SEVERABILITY

 

If any term or other
provision of this Agreement is held by a court of competent jurisdiction or other authority to be invalid, void, illegal or incapable
of being enforced under any present or future Law or public policy, (a) such term or other provision shall be fully separable,
(b) this Agreement shall be construed and enforced as if such invalid, illegal or unenforceable provision had never comprised
a part hereof, and (c) all other conditions and provisions of this Agreement shall remain in full force and effect and shall not
be affected by the illegal, invalid or unenforceable term or other provision or by its severance herefrom so long as the economic
or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon
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 this Agreement so as to effect the original intent of the parties as closely as possible to
the fullest extent permitted by applicable Law in a mutually acceptable manner in order that the transactions contemplated hereby
are fulfilled as originally contemplated to the fullest extent possible.

 

* * * *

 

 

/s/ Marcos Roberto Jamie Bindon

 

By: Pluspetro S.A.

Name: Marcos Roberto Jaime Bindon

Title: Attorney-in-fact

 

    32

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