Document:

Exhibit 10.3

    

    

    

    
      
        MANAGEMENT STOCKHOLDERS

         AGREEMENT

         

        

        of

         

        

        LEGACY RESERVES INC.

         

        Dated as of December 11, 2019

      

      

      

      
        
          

      

      
      TABLE OF CONTENTS

       

      	 	 	
              Page

            
	 	 	 
	
              ARTICLE I. DEFINITIONS

            	
              1

            
	 	 
	
              Section 1.1

            	
              Certain Defined Terms

            	
              1

            
	
              Section 1.2

            	
              Table of Defined Terms

            	
              8

              

            
	
              Section 1.3

            	
              Other Definitional Provisions

            	
              9

            
	 	 	 
	
              ARTICLE II. TRANSFERS

            	
              10

            
	 	 
	
              Section 2.1

            	
              Transfer Restrictions

            	
              10

            
	
              Section 2.2

            	
              Right of First Offer

            	
              11

            
	
              Section 2.3

            	
              Involuntary Transfers

            	
              12

            
	 	 	 
	
              ARTICLE III. ADDITIONAL TRANSFER PROVISIONS; REPURCHASE RIGHTS

            	
              13

            
	 	 
	
              Section 3.1

            	
              Drag-Along Right

            	
              13

            
	
              Section 3.2

            	
              Tag-Along Right

            	
              16

            
	
              Section 3.3

            	
              Repurchase Rights.

            	
              18

            
	
              Section 3.4

            	
              Cooperation; Costs

            	
              21

            
	 	 	 
	
              ARTICLE IV.

            	
              21

            
	 	 
	
              Section 4.1

            	
              IPO

            	
              21

            
	
              Section 4.2

            	
              Holdback Agreement

            	
              22

            
	
              Section 4.3

            	
              Participation in Registration

            	
              22

            
	
              Section 4.4

            	
              Coordination of Rule 144 Sales

            	
              22

            
	 	 	 
	
              ARTICLE V. REPRESENTATIONS AND WARRANTIES

            	
              22

            
	 	 
	
              Section 5.1

            	
              Representations and Warranties of Management Stockholders

            	
              22

            
	
              Section 5.2

            	
              Survival

            	
              24

            
	 	 	 
	
              ARTICLE VI. MISCELLANEOUS

            	
              24

            
	 	 
	
              Section 6.1

            	
              Termination

            	
              24

            
	
              Section 6.2

            	
              Amendments and Waivers

            	
              25

            
	
              Section 6.3

            	
              Successors, Assigns and Transferees

            	
              25

            
	
              Section 6.4

            	
              Legends

            	
              25

            
	
              Section 6.5

            	
              Notices

            	
              25

            
	
              Section 6.6

            	
              Further Assurances

            	
              26

            
	
              Section 6.7

            	
              Entire Agreement

            	
              26

            
	
              Section 6.8

            	
              Voting Rights.

            	
              27

            
	
              Section 6.9

            	
              Delays or Omissions

            	
              27

            
	
              Section 6.10

            	
              Governing Law; Jurisdiction; Waiver of Jury Trial

            	
              28

            
	
              Section 6.11

            	
              Severability

            	
              28

            
	
              Section 6.12

            	
              Enforcement

            	
              29

            
	
              Section 6.13

            	
              Titles and Subtitles

            	
              29

            
	
              Section 6.14

            	
              No Recourse

            	
              29

            
	
              Section 6.15

            	
              Counterparts; Facsimile Signatures

            	
              29

            
	
              Section 6.16

            	
              No Partnership

            	
              29

            

       

      

      
        i

        
          

      

      	
              Schedules

            	 
	 	 
	
              Schedule 1

            	
              GSO Stockholders

            
	 	 
	
              Exhibits

            	 
	 	 
	
              Exhibit A

            	
              Joinder Agreement

            
	 	 
	
              Exhibit B

            	
              Form of ROFO Response

            
	 	 
	
              Exhibit C

            	
              Form of Spousal Consent and Acknowledgment

            

       

      

      
        ii

        
          

      

      
      THIS MANAGEMENT STOCKHOLDERS AGREEMENT (this “Agreement”) is entered into as of
          December 11, 2019 (the “Closing Date”), by and among Legacy Reserves Inc., a Delaware corporation (the “Company”), each of the Persons who are listed on Schedule 1 hereto (collectively, together with their Permitted
          Affiliates who on or after the date hereof own Company Common Shares, the “GSO Stockholders”, and each, a “GSO Stockholder”), and each Eligible Employee, Consultant or Non-Employee Director of the Company and/or one or more of its
          subsidiaries (in each case within the meaning of the Incentive Plan (as defined below)) who becomes a party hereto from time to time in accordance with the terms hereof (each individually, a “Management Stockholder,” and collectively, the
          “Management Stockholders”).

       

      RECITALS

       

      WHEREAS, pursuant to the Joint Chapter 11 Plan of Reorganization for the Company and its Debtor Affiliates, dated as of November 4, 2019 (the “Plan”),
        the Company has issued (or may hereafter issue) to each Management Stockholder shares of Common Stock, (i) as a result of the exercise by such Management Stockholder of vested options to purchase Common Stock (“Vested Options”), which
        options were issued (or may hereafter be issued) to such Management Stockholder pursuant to the Legacy Reserves Inc. 2019 Management Incentive Plan (the “Incentive Plan”) or any other employee benefit, stock purchase or compensation plan
        hereafter adopted by the Board, (ii) as a result of the settlement by such Management Stockholder of vested restricted stock units (“Vested RSUs”), which restricted stock units were issued (or may hereafter be issued), to such Management
        Stockholder pursuant to the Incentive Plan, or (iii) otherwise; and

       

      WHEREAS, the Management Stockholders and the Company desire to promote the interests of the Company and their mutual interests as stockholders of the Company by establishing herein certain terms
        and conditions governing the rights and obligations in respect of stockholding in the Company.

       

      NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the
        parties hereto agree as follows:

       

      ARTICLE I.

       

      DEFINITIONS

       

      Section 1.1           Certain Defined Terms.  As
        used herein, the following terms shall have the following meanings:

       

      “1933 Act” means the Securities Act of 1933, as amended.

       

      “1934 Act” means the Securities Exchange Act of 1934, as amended.

       

      “Affiliate” means, with reference to any specified Person, a Person that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control
        with, the specified Person.  Notwithstanding the foregoing, for the purposes of this Agreement, except for purposes of Section 6.9 (Confidentiality), and Section 6.14 (No Recourse), The Blackstone Group, L.P., a Delaware limited partnership,
        and all private equity funds, portfolio companies, parallel investment entities, and alternative investment entities owned, managed, or controlled by The Blackstone Group, L.P. or an Affiliate thereof shall not be considered or otherwise deemed to
        be an “Affiliate” of GSO Capital or any of its Affiliates, but any fund or account managed, advised or subadvised, by GSO Capital or any of its Affiliates shall, for the avoidance of doubt, be considered an “Affiliate” of GSO Capital for all
        purposes hereunder.

       

      

      
        1

        
          

      

      “Applicable Law” means, with respect to any Person, matter, fact pattern, circumstance, event or occurrence, all Laws applicable to such Person, matter, fact pattern, circumstance, event or
        occurrence.

       

      “Award” means any award under the Incentive Plan.

       

      “Award Agreement” means the written or electronic agreement setting forth the terms and conditions applicable to an Award.

       

      “beneficially own” has the meaning given to such term in Rule

       

      13d-3 under the 1934 Act and, for all applicable purposes hereof, a Person’s beneficial ownership of Equity Securities shall be calculated in accordance with the provisions of such Rule.

       

      “Board” means the Board of Directors of the Company.

       

      “Business Day” means any day that is not a Saturday, a Sunday or other day on which banks are required or authorized by law to be closed in the City of New York, New York, United States of
        America.

       

      “Bylaws” means the Third Amended and Restated Bylaws of the Company, dated as of the date hereof, and as the same may be amended, supplemented or otherwise modified from time to time in
        accordance with the terms thereof, the Charter and this Agreement.

       

      “Cause” means, unless otherwise determined by the Committee in the applicable Award Agreement, with respect to a Management Stockholder’s Termination of Employment or Termination of
        Consultancy, the following: (a) in the case where there is no employment agreement, consulting agreement, change in control agreement or similar agreement in effect between the Company or an Affiliate and the Management Stockholder at the time of
        the grant of the Award (or where there is such an agreement but it does not define “cause” (or words of like import)), termination due to a Management Stockholder’s (i) insubordination, dishonesty, fraud, incompetence, moral turpitude, willful
        misconduct, refusal to perform the Management Stockholder’s duties or responsibilities for any reason other than illness or incapacity or materially unsatisfactory performance of the Management Stockholder’s duties for the Company or an Affiliate,
        as determined by the Committee in its good faith discretion or (ii) material breach of any restrictive covenant contained in any employment agreement, consulting agreement, change in control agreement or other agreement in effect between the
        Company or an Affiliate and the Management Stockholder; or (b) in the case where there is an employment agreement, consulting agreement, change in control agreement or similar agreement in effect between the Company or an Affiliate and the
        Management Stockholder at the time of the grant of the Award that defines “cause” (or words of like import), “cause” as defined under such agreement; provided, however, that with regard to any agreement under which the definition of
        “cause” only applies on occurrence of a change in control, such definition of “cause” shall not apply until a change in control actually takes place and then only with regard to a termination thereafter.  With respect to a Management Stockholder’s
        Termination of Directorship, “cause” means an act or failure to act that constitutes cause for removal of a director under applicable Delaware law.

       

      

      
        2

        
          

      

      “Charter” means the Second Amended and Restated Certificate of Incorporation of the Company, dated as of the date hereof, and as the same may be amended, supplemented or otherwise modified
        from time to time in accordance with the terms thereof and this Agreement.

       

      “Code” means the Internal Revenue Code of 1986, as amended.  Any reference to any section of the Code shall also be a reference to any successor provision and any treasury regulation
        promulgated thereunder.

       

      “Committee” means any committee of the Board duly authorized by the Board to administer this Agreement.  If no committee is duly authorized by the Board to administer this Agreement, the
        term “Committee” shall be deemed to refer to the Board for all purposes under this Agreement.

       

      “Common Stock” means the common stock, par value $0.01 per share, of the Company and any securities issued in respect thereof, or in substitution therefor, in connection with any stock
        split, dividend or combination, or any reclassification, recapitalization, merger, consolidation, exchange or other similar reorganization.

       

      “Company Common Shares” means shares of Common Stock or other shares of common stock or common equity equivalents of the Company held at the time of determination.

       

      “Company Competitor” means any Person that, directly or indirectly, (a) is a Specified Business, or (b) has (directly or indirectly) a material ownership stake in a Specified Business (other
        than an investment of not more than one percent (1%) of the securities of a publicly-traded company, or such Person does not have, and does not exercise, any management or operation rights with respect to such company beyond the scope of its equity
        ownership as a passive investor).  For the purposes of this definition, “Specified Business” means: (i) any material competitor of the Company or any of its Subsidiaries, or (ii) any current or prior material suppliers or vendors or the
        Company or any of its Subsidiaries.

       

      “Company Sale” means a transaction or series of related transactions where the Stockholder Majority determines to (a) Transfer to one
        or more Persons a number of Equity Securities representing more than fifty percent (50%) of the Common Stock held by all Stockholders, (b) merge the Company with a Person, (c) sell all or substantially all of the assets of the Company to one or
        more Persons, or (d) otherwise enter into a business combination between the Company and one or more Persons (in any case, whether by merger, consolidation, sale, exchange, issuance, transfer
        or redemption of securities, by sale, exchange or transfer of assets, or otherwise); provided that a Transfer to an Affiliated Person of the Stockholder Majority shall only constitute a Company Sale in that event that (i) such Transfer
        satisfies any of the preceding clauses (a) through (d) and (ii) such Transfer is the
        result of a bona fide sale process (as determined by the Board in good faith) involving at least one (1) other Person as a potential purchaser in such Transfer that is not an Affiliate of the Stockholder Majority.

       

      

      
        3

        
          

      

      “Contract” means any legally binding contract, agreement, subcontract, lease, deed, mortgage, license, instrument, note, commitment, undertaking, indenture and arrangement (including any and
        all amendments and modifications thereto), whether written or oral.

       

      “control” (including the terms “controlling”, “controlled by” and “under common control with”), with respect to the relationship between or among two or more Persons,
        means (a) the possession, directly or indirectly, of the power to direct or cause the direction of the affairs or management of another Person, whether through the ownership of voting securities, as trustee or executor, by Contract or otherwise, or
        (b) the direct or indirect ownership of more than fifty percent (50%) of the equity or voting interests in such Person.

       

      “Cost” means (a) in the case of any Equity Securities issued upon the exercise of any stock options, the exercise price paid for such Equity Securities (or, in the case of cashless exercise,
        the amount of cash that the Management Stockholder would have been required to pay for such Equity Securities if payment had been made in cash), (b) in the case of Equity Securities purchased for cash, the price paid by the Management Stockholder
        for such Equity Securities, or (c) in the case of any other Equity Securities, the amount of $0.01 per share.

       

      “Debtor(s)” means Legacy Reserves Inc., a Delaware corporation; Legacy Reserves GP, LLC, a Delaware limited liability company; Legacy Reserves LP, a Delaware limited partnership; Legacy
        Reserves Finance Corporation, a Delaware corporation; Legacy Reserves Services LLC, a Texas limited liability company; Legacy Reserves Operating LP, a Delaware limited partnership; Legacy Reserves Energy Services LLC, a Texas limited liability
        company; Legacy Reserves Operating GP LLC, a Delaware limited liability company; Dew Gathering LLC, a Texas limited liability company; Pinnacle Gas Treating LLC, a Texas limited liability company; and Legacy Reserves Marketing LLC, a Texas limited
        liability company.

       

      “Equity Securities” means any shares of any class of capital stock of the Company.

       

      “Established OTC Marketplace” means an industry-recognized established over-the-counter marketplace, including (but not limited to) the OTC Markets Group’s OTCQX exchange and OTCQB exchange
        and other similar trading marketplaces, but excluding, for the avoidance of doubt, the “pink sheets” or other similar trading marketplaces.

       

      “Fair Market Value” of the Common Stock, as of any date of determination, shall be determined by the Board as follows:

       

      
        
          	

                	(i)	
                  If the Common Stock is listed on one or more National Securities Exchanges (within the meaning of the Securities Exchange Act of 1934, as amended), each share of Common Stock shall be valued at the closing price of a share of Common
                    Stock on the principal exchange on which the shares are then trading on the most recent trading day preceding such date of determination;

                

        

      

       

      
        
          	

                	(ii)	
                  If the Common Stock is not publicly traded on a National Securities Exchange, but is quoted on an Established OTC Marketplace, each share of Common Stock shall be valued at the mean between the closing representative bid and asked
                    prices for a share of Common Stock on the most recent trading day preceding such date of determination as reported by such Established OTC Marketplace; or

                

           

          

        

      

      
        4

        
          

      

      
        
          	

                	(iii)	
                  If the Common Stock is not publicly traded on a National Securities Exchange, and is not quoted on an Established OTC Marketplace, the Fair Market Value of the Common Stock shall be determined in good faith by the Board; provided,
                    however, that the Fair Market Value shall be determined without application of any minority interest discount or lack of marketability discount.

                

        

      

       

      “Governmental Authority” means any supra-national (including the European Union), national, federal, state, provincial, municipal, local or foreign government or political subdivision
        thereof, governmental authority, taxing, regulatory or administrative agency, governmental commission, department, board, bureau, agency or instrumentality, arbitrator, court or tribunal, including self-regulated organizations or other
        non-governmental regulatory or quasi‐governmental authority (to the extent that the rules, regulations or orders of such organization or authority have the force of Applicable Law).

       

      “Group” has the meaning assigned to such term in Section 13(d)(3) of the 1934 Act.

       

      “GSO Capital” means GSO Capital Partners LP, a Delaware limited partnership.

       

      “GSO Majority” means one or more GSO Stockholders holding a majority of the issued and outstanding Common Stock held by the GSO Stockholders, at any time of determination.

       

      “Holder” means any Stockholder holding Registrable Shares.

       

      “Involuntary Transfer” means any Transfer, other than by voluntary act of a Management Stockholder or its Affiliates, and any proceeding or action by or in which a Management Stockholder
        shall be deprived or divested of any right, title or interest in or to any Equity Securities or any Equity Securities shall become encumbered, whether or not such Management Stockholder consents to such proceeding or action, including, (a) any
        seizure under levy of attachment or execution, (b) any foreclosure upon a pledge of, or a security interest in, Equity Securities, (c) any Transfer in connection with any bankruptcy or similar proceedings relating to such Management Stockholder, or
        (d) any Transfer to a state or to a public officer or agency pursuant to any statute pertaining to escheat or abandoned property.  “Involuntary Transferee” shall have a corresponding meaning.

       

      “IPO” means, with respect to any Company (or any successor or Affiliate thereof), an underwritten initial public offering of equity securities of the Company (or any successor or Affiliate
        thereof) pursuant to an effective registration statement filed under the 1933 Act (excluding registration statements filed on Form S-8, or any similar successor form or another form used for a purpose similar to the intended use for such forms)
        resulting in aggregate gross proceeds to the Company and/or selling Stockholders of at least two hundred million dollars ($200,000,000) (provided that, such minimum threshold may be waived in the sole discretion of the GSO Majority) and that
        results in the issuer’s common equity securities being listed on the New York Stock Exchange, Nasdaq or other comparable national securities exchange.

       

      “Law” means any statute, law (including common law), ordinance, rule, regulation, code, order, constitution, treaty, judgment, decree, or other requirement, in each case, of any Governmental
        Authority.

        

      

      
        5

        
          

      

      “Lock-up Period” means, with respect to any registration  of Registrable Shares which involves an underwritten offering, the period beginning ten (10) days prior to the “pricing” of such
        offering and ending (a) one hundred and eighty (180) days after the “pricing” of such offering (in the case of the IPO) or (b) ninety (90) days after the “pricing” of such offering (in the case of any offering other than the IPO), or, in each case,
        such shorter or longer period as the managing underwriter for any underwritten offering may reasonably agree or reasonably request.

       

      “Member of the Immediate Family” means, with respect to any individual, each parent, spouse or child (including those adopted) of such individual and each custodian or guardian of any
        property of one (1) or more of such Persons in the capacity as such custodian or guardian.

       

      “Permitted Affiliate” means, (a) with respect to any Stockholder that is not a natural person, any limited partner, member, investors, co-investment vehicles or similar investment vehicles
        established, sponsored, managed or advised by such Stockholder or its Affiliates (as such terms are customarily used among institutional investors) of such Stockholder, and (b) with respect to any Stockholder that is a natural person, (i) one (1)
        or more Members of the Immediate Family of such Stockholder, (ii) to a trust for the benefit of such Stockholder or one (1) or more of the Members of the Immediate Family of such Stockholder, so long as such Stockholder controls such trust and
        guarantees the obligations of such Person in connection with any of the provisions herein, (iii) the estate of such Stockholder, or (iv) any guardian of such Stockholder in the event of the Stockholder’s temporary or permanent disability; provided
        that, notwithstanding the foregoing, in no event shall a Permitted Affiliate be a Company Competitor. All spouses of Management Stockholders shall be required to execute and deliver a Spousal Consent and Acknowledgment to the Company in the form
        attached hereto as Exhibit C.

       

      “Person” means any individual, corporation, limited liability company, limited or general partnership, joint venture, association, joint-stock company, trust, unincorporated organization,
        government or any agency or political subdivision thereof or any Group composed of two (2) or more of the foregoing.

       

      “Registrable Shares” means (a) any and all Company Common Shares held at the time of determination, and (b) any other securities issued and issuable therefor or with respect thereto, whether
        by way of stock split, stock dividend, reclassification, subdivision or reorganization, recapitalization, distribution or similar event.  As to any particular Registrable Shares, such securities shall cease to constitute Registrable Shares when (i)
        a registration statement with respect to the offering of such securities by the holder thereof shall have been declared effective under the 1933 Act and such securities shall have been disposed of by such holder pursuant to such registration
        statement, (ii) such securities have been sold to the public pursuant to a Rule 144 Transfer, (iii) such securities shall have been otherwise transferred to a Person and subsequent disposition of such securities shall not require registration or
        qualification under the 1933 Act or any similar state law then in force and, if such securities are in certificated form, newly issued certificates for such securities that do not bear a legend restricting further transfer shall have been delivered
        by the Company or its transfer agent, or (iv) such securities shall have ceased to be outstanding.

       

      “Rule 144 Transfer” means any transfer for value conducted in accordance with Rule 144 promulgated under the 1933 Act.

       

      

      
        6

        
          

      

      “Stockholder Majority” means one (1) or more Stockholders holding a majority of the issued and outstanding Company Common Shares, at any time of determination.

       

      “Stockholder(s)” means any Person holding Common Stock, including but not limited to, the GSO Stockholders and Management Stockholders.

       

      “Stockholders Agreement” means the Stockholders Agreement of the Company, dated as of December 11, 2019.

       

       “Subsidiary” means, as to any Person (other than an individual), another Person (other than an individual) in which such first Person from time to time, directly or indirectly, through one
        (1) or more intermediaries, holds a majority of the outstanding equity or economic interests.

       

      “Termination” means a Termination of Consultancy, Termination of Directorship or Termination of Employment, as applicable.

       

      “Termination of Consultancy” means: (a) that the Consultant is no longer acting as a consultant to the Company or a Subsidiary; or (b) when an entity which is retaining a Management
        Stockholder as a Consultant ceases to be a Subsidiary unless the Management Stockholder otherwise is, or thereupon becomes, a Consultant to the Company or another Subsidiary at the time the entity ceases to be a Subsidiary.  In the event that a
        Consultant becomes an Eligible Employee or a Non‐Employee Director upon the termination of such Consultant’s consultancy, unless otherwise determined by the Committee, in its sole discretion, no Termination of Consultancy shall be deemed to occur
        until such time as such Consultant is no longer a Consultant, an Eligible Employee or a Non-Employee Director.  Notwithstanding the foregoing, the Committee may otherwise define Termination of Consultancy in the applicable Award Agreement or, if no
        rights of a Management Stockholder are reduced, may otherwise define Termination of Consultancy thereafter, provided that any such change to the definition of the term “Termination of Consultancy” does not subject the applicable Award to Section
        409A of the Code.

       

      “Termination of Directorship” means that the Non-Employee Director has ceased to be a director of the Company; except that if a Non-Employee Director becomes an Eligible Employee or a
        Consultant upon the termination of such Non-Employee Director’s directorship, such Non-Employee Director’s ceasing to be a director of the Company shall not be treated as a Termination of Directorship unless and until the Management Stockholder has
        a Termination of Employment or Termination of Consultancy, as the case may be.

       

      “Termination of Employment” means: (a) a termination of employment (for reasons other than a military or personal leave of absence granted by the Company) of a Management Stockholder from
        the Company and its Subsidiaries; or (b) when an entity which is employing a Management Stockholder ceases to be a Subsidiary, unless the Management Stockholder otherwise is, or thereupon becomes, employed by the Company or another Subsidiary at
        the time the entity ceases to be a Subsidiary.  In the event that an Eligible Employee becomes a Consultant or a Non-Employee Director upon the termination of such Eligible Employee’s employment, unless otherwise determined by the Committee, in its
        sole discretion, no Termination of Employment shall be deemed to occur until such time as such Eligible Employee is no longer an Eligible Employee, a Consultant or a Non‐Employee Director.  Notwithstanding the foregoing, the Committee may otherwise
        define Termination of Employment in the applicable Award Agreement or, if no rights of a Management Stockholder are reduced, may otherwise define Termination of Employment thereafter, provided that any such change to the definition of the term
        “Termination of Employment” does not subject the applicable Award to Section 409A of the Code.

       

      

      
        7

        
          

      

      “Transfer” means (a) directly or indirectly, any sale, transfer, assignment, conveyance, exchange or other disposition of, or
        entrance into any Contract, option or other arrangement or understanding with respect to the sale, transfer, assignment, conveyance, exchange or disposition of (including by operation of law or by judgment,
        levy, attachment, garnishment, bankruptcy or other legal or equitable proceedings and any other form of Involuntary Transfer, including as a result of any of the actions set forth in clause
        (b) of this definition), or (b) directly or indirectly, any pledge, encumbrance or hypothecation, either voluntarily or involuntarily (including by operation of law or by judgment, levy, attachment,
        garnishment, bankruptcy or other legal or equitable proceedings and any other form of Involuntary Transfer), or entrance into any Contract, option or other arrangement or understanding with respect to the pledge, encumbrance or hypothecation of, in
        each case, any Equity Securities or any interest in such Equity Securities; it being understood that in the event any Stockholder is a corporation, partnership, limited liability company or other legal entity (other than an individual, trust or
        estate) and it ceases to be controlled by the Person controlling such Stockholder, such event shall be deemed to constitute a “Transfer” subject to the restrictions on Transfer contained or referenced herein.  Solely for the purposes of Sections
        2.2, 3.1 and 3.2, the term “Transfer” shall only mean the actions set out in clause (a) of this definition. The terms “Transferred”, “Transferring” and “Transferee” have correlative meanings.

       

      Section 1.2           Table of Defined Terms.

      
         

        

        	
                TERM

              	
                SECTION

              
	 	 
	
                144 Notice

              	
                4.4

              
	
                Agreement

              	
                Preamble

              
	
                Call Notice

              	
                3.3(a)

              
	
                Call Repurchase Price

              	
                3.3(a)

              
	
                Call Right

              	
                3.3(a)

              
	
                Closing Date

              	
                Preamble

              
	
                Company

              	
                Preamble

              
	
                Compensation Committee

              	
                3.3(a)

              
	
                Confidential Information

              	
                6.9

              
	
                Desired Price per Share

              	2.2(b)
	
                Disability Notice

              	
                3.3(d)(ii)

              
	
                Drag-Along Notice

              	
                3.1(a)

              
	
                Drag-Along Party

              	
                3.1(a)

              
	
                Drag-Along Pro Rata Share

              	
                3.1(a)

              
	
                Drag-Along Representative

              	
                3.1(a)

              
	
                Drag-Along Transaction

              	
                3.1(a)

              

      

      

      

      
        8

        
          

      

      
        	
                Eligible Shares

              	
                3.3(b)

              
	
                Exempted Transfer

              	
                2(h)

              
	
                Financing Documents

              	
                3.3(d)

              
	
                GSO Stockholder(s)

              	
                Preamble

              
	
                Joinder

              	
                2.1(c)

              
	
                Management Stockholders Agreement

              	
                Exhibit A

              
	
                Non-Company Call Right

              	
                3.3(b)

              
	
                Notifying Investor

              	
                4.4

              
	
                Other Agreements

              	
                6.7

              
	
                Plan

              	
                Recitals

              
	
                Reinstatement Notice

              	
                3.3(d)(ii)

              
	
                Repurchase Deadline

              	
                3.3(a)

              
	
                Repurchase Disability

              	
                3.3(d)

              
	
                ROFO Notice

              	
                2.2(a)

              
	
                ROFO Response

              	
                2.2(b)

              
	
                ROFO Sale

              	
                2.2(c)

              
	
                ROFO Shares

              	
                2.2(a)

              
	
                ROFO Transfer Period

              	
                2.2(d)

              
	
                Stockholder Affiliate

              	
                6.15

              
	
                Tag Offer Period

              	
                3.2(a)

              
	
                Tag-Along Notice

              	
                3.2(a)

              
	
                Tag-Along Offeree

              	
                3.2(a)

              
	
                Tag-Along Pro Rata Share

              	
                3.2(a)

              
	
                Tag-Along Securities

              	
                3.2(a)

              
	
                Tag-Along Transaction

              	
                3.2(a)

              
	
                Tag-Along Transferor

              	
                3.2(a)

              
	
                Transferring ROFO Management Stockholder

              	
                2.2(a)

              

      

      

      

      Section 1.3           Other Definitional Provisions.

       

      (a)         All references in this Agreement to Articles, Sections, clauses, Exhibits and Schedules shall be deemed to be references to Articles, Sections
        and clauses of, and Exhibits and Schedules to, this Agreement unless the context otherwise requires.  The Exhibits and Schedules attached hereto are incorporated herein by reference and shall be considered part of this Agreement (and, for purposes
        of clarification, references to this “Agreement” shall include all Exhibits and Schedules attached hereto).  Words in the singular include the plural, and words in the plural include the singular.  Any pronoun used in this Agreement shall include
        the corresponding masculine, feminine or neuter forms.  The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”.  The term “or” is not exclusive and shall have the meaning represented by the
        term “and/or”.  The word “extent” in the phrase “to the extent” shall mean the degree or proportion to which a subject or other thing extends, and such phrase shall not mean simply “if”.  The words “hereof”, “hereby”, “herein” and “hereunder” and
        words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.  Unless otherwise expressly provided herein, any agreement, instrument or statute defined or
        referred to herein or in any agreement or instrument that is referred to herein means such agreement, instrument or statute as from time to time amended, modified, supplemented or restated, including (in the case of agreements or instruments) by
        waiver or consent and (in the case of statutes) by succession of comparable successor statutes and references to all attachments thereto and instruments incorporated therein.  All references to a “party” or “parties” mean a party or parties to this
        Agreement unless the context requires otherwise.  Where specific language is used to clarify or illustrate by example a general statement contained herein, such specific language shall be deemed to modify, limit or restrict the construction of the
        general statement which is being clarified or illustrated.

       

      

      
        9

        
          

      

      (b)         The meanings given to terms defined herein shall be equally applicable to both the singular and plural
          forms of such terms.  The use of the masculine, feminine or neuter gender form of words used herein (including defined terms) shall not limit any provision of this Agreement.

       

      (c)         Each of the parties hereto has been represented by its own counsel and acknowledges that it has participated in the drafting of this Agreement.  This

        Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the party drafting or causing any agreement, instrument or document to be drafted.

       

      ARTICLE II.

       

      TRANSFERS

       

      Section 2.1           Transfer Restrictions.

       

      (a)         Each Management Stockholder hereby agrees that he
          or she shall not Transfer any Equity Securities, other than a Transfer to a Permitted Affiliate, without the prior written consent of the Company, which consent shall have been authorized by a majority of the members of the Board and which
          consent may be (i) withheld in the sole discretion of the Board, or (ii) given subject to terms and conditions determined by the Board in its sole discretion.  Each Management Stockholder further agrees that in connection with any Transfer
          consented to by the Company, the Management Stockholder shall, if requested by the Company, deliver to the Company an opinion of counsel in form and substance reasonably satisfactory to the Company and counsel for the Company, to the effect that
          the Transfer is not in violation of the 1933 Act, or the securities laws of any state.  Any purported Transfer in violation of the provisions of this Section 2.1 shall be null and void and shall have no force or effect.

       

      (b)        Notwithstanding anything herein or otherwise to the contrary, any otherwise
          permitted Transfer shall be null and void if (i) such Transfer may require the registration of such Transferred Equity Securities pursuant to any applicable federal, state or foreign securities laws, (ii) such Transfer may result in a violation
          of Applicable Laws, (iii) such Transfer is made to any Person who lacks the legal right, power or capacity to own such Transferred Equity Securities, (iv) prior to such Transfer, the Company and the Board do not receive a copy of the Joinder duly
          executed by the proposed Transferee as required pursuant Section 2.1(c), or (v) to the extent applicable, the Transferring Management Stockholder failed to comply with Section 2.2 or Section 3.2, as applicable.

       

        

      
        10

        
          

      

      (c)        Without limiting anything contained herein (including Section 2.1(b)(v)),

          prior to the consummation of any Transfer of Equity Securities and as a condition thereto, (i) the   Management Stockholder proposing to effect such Transfer will give the Company and the Board, a written notice thereof, and (ii) the Transferee
          of such Equity Securities must execute and deliver to the Company and the Board an agreement in writing to be bound by the terms and conditions of this Agreement as (and to the same extent, and shall have the same obligations and rights as) the
          Transferring Management Stockholder, pursuant to a Joinder Agreement substantially in the form attached as Exhibit A hereto (a “Joinder”).  Upon the execution of the Joinder, such Transferee shall be deemed to be a Management Stockholder
          for all purposes of this Agreement except that, (A) in the case of a Transfer to a Permitted Affiliate, all provisions that relate to Termination of a Management Stockholder and the effects thereof shall continue to apply to such Management
          Stockholder transferor and not to such Permitted Affiliate and (B) in the case of a Transfer to the Company or the GSO Stockholders, Section 2.2 and Section 3.3 of this Agreement shall cease to apply following such Transfer.

       

      (d)         Any Transfer or attempted Transfer of Equity Securities in violation of any provision of this Agreement
          shall be null and void ab initio.

       

      Section 2.2           Right of First Offer.

       

      (a)         For so long as the GSO Stockholders collectively
          own the number of Company Common Shares equal to or greater than fifty percent (50%) of the Company Common Shares that they owned, in the aggregate,
          on the Closing Date (subject to adjustment for stock splits, stock subdivisions, and other similar actions), in the event that any Management Stockholder (such Management Stockholder, the “Transferring ROFO Management Stockholder”),
          determines (with the consent of the Company as provided in Section 2.1) to Transfer all or a portion of its Equity Securities (collectively, the “ROFO Shares”) to any Person (other than to a Permitted Affiliate), then the Transferring ROFO
          Management Stockholder shall first, before making any Transfer or offering to Transfer any ROFO Shares, deliver a written notice to such effect (the “ROFO Notice”) to the GSO Stockholders, setting forth the number of ROFO Shares that the
          Transferring ROFO Management Stockholder desires to sell.

       

      (b)        The GSO Stockholders shall notify the Transferring ROFO Management Stockholder
          in writing (the “ROFO Response”) within twenty-one (21) days of its receipt of the ROFO Notice whether the GSO Stockholders have an interest in acquiring any portion of the ROFO Shares and shall include in their ROFO Response the price per
          ROFO Share that the GSO Stockholders desire to pay (the “Desired Price per Share”).  If a ROFO Response substantially in the form attached hereto as Exhibit B is delivered in accordance with the prior sentence, then the
          Transferring ROFO Management Stockholder and the GSO Stockholders shall in good faith negotiate the terms of a sale of the ROFO Shares to the GSO Stockholders.

       

      (c)         The GSO Stockholders shall have twenty (20) Business Days from the date of the
          ROFO Notice to enter into a definitive agreement with the Transferring ROFO Management Stockholder for the Transfer of all of the applicable ROFO Shares of the Transferring ROFO Management Stockholder, during which time the Transferring ROFO
          Management Stockholder shall engage in good faith negotiations with the GSO Stockholders to attempt to reach a reasonable agreement with respect to such ROFO Shares.  Thereafter, the Transferring ROFO Management Stockholder and the GSO
          Stockholders shall then have ten (10) Business Days from the date of such agreement to consummate such purchase of the ROFO Shares (any such purchase, a “ROFO Sale”), which period shall be extended as appropriate in case of required
          regulatory approvals or any undue delay or delays caused by the Transferring ROFO Management Stockholder.

       

        

      
        11

        
          

      

      (d)        In the event that the Transferring ROFO Management Stockholder and the GSO
          Stockholders fail to consummate a ROFO Sale during the time periods referred to in Section 2.2(c), the Transferring ROFO Management Stockholder may, during the one hundred and fifty (150) days immediately thereafter (which period may be
          extended upon agreement by the Transferring ROFO Management Stockholder and the GSO Majority) (the “ROFO Transfer Period”), elect to Transfer (without limiting Section 3.2), all of the ROFO Shares that are the subject of the ROFO Notice to
          an independent third party; provided that such ROFO Shares may not be sold for less than one hundred and one percent (101%) of the highest Desired Price per Share contained in a ROFO Response (as modified) made by the GSO Stockholders for such
          ROFO Shares.  If the Transferring ROFO Management Stockholder does not Transfer all of the ROFO Shares or such Transfer is not consummated within the ROFO Transfer Period, the rights provided hereunder shall be deemed to be revived and the ROFO
          Shares shall not be Transferred to any Person unless first re-offered to the GSO Stockholders in accordance with this Section 2.2.

       

      (e)        At the closing of any Transfer pursuant to this Section 2.2, the Transferring ROFO Management
          Stockholder shall deliver to each GSO Stockholder that is purchasing ROFO Shares an assignment agreement and such other appropriate transfer instruments Transferring all of the applicable ROFO Shares to such GSO Stockholder, duly executed, free
          and clear of any liens or other encumbrances, against delivery of the purchase price therefor.

       

      (f)          For the avoidance of doubt, the provisions of this Section 2.2 shall not apply to any Transfers in
          a Drag-Along Transaction or, subject to the second parenthetical in Section 2.2(d), Tag-Along Transaction.

       

      Section 2.3           Involuntary Transfers.

       

      (a)          Without limiting anything contained in this Agreement, upon the Involuntary Transfer of Equity Securities
          held by any Management Stockholder, such Management Stockholder shall promptly (but in no event later than two (2) days after such Management Stockholder becomes aware of any such Involuntary Transfer) furnish written notice to the Company
          indicating that the Involuntary Transfer has occurred, specifying the name of the Involuntary Transferee and giving a detailed description of the circumstances giving rise to and the legal basis for the Involuntary Transfer.  For the avoidance of
          doubt, the GSO Stockholders’ rights pursuant to Section 2.2 and (except in connection with the Company’s exercise of its rights pursuant to Sections 2.3(b) and (c)) the Management Stockholders’ rights pursuant to Section

            3.2 shall apply to any Involuntary Transfer to the same extent as they would apply to any other Transfer.

       

        

      (b)         In the event that the GSO Stockholders’ decline to exercise their rights
          pursuant to Section 2.2 in connection with any Involuntary Transfer, then the Company, at the Board’s discretion, shall have the same rights held by the GSO Stockholders’ that are specified in Section 2.2 with respect to such
          Involuntary Transfer as if the Involuntary Transfer had been a proposed voluntary Transfer by a Management Stockholder except that (i) the Company’s rights under this Section 2.3 shall not terminate if the GSO Stockholders fail to
          collectively own the number of Company Common Shares set forth in Section 2.2(a), (ii) the time periods shall run from the date of receipt by the Company of actual notice of the Involuntary Transfer, (iii) such rights shall be exercised
          by delivery of the ROFO Response to the Involuntary Transferee rather than the Management Stockholder who suffered or will suffer the Involuntary Transfer, and (iv) the per share purchase price for the ROFO Shares shall be negotiated between the
          Involuntary Transferee and the Company; provided that, if such parties fail to enter into a definitive agreement within twenty (20) Business Days after the date of receipt by the Company of actual notice of the Involuntary Transfer, the
          per share purchase price of the ROFO Shares shall be equal to the Fair Market Value thereof.

       

        

      
        12

        
          

      

      ARTICLE III.

       

      ADDITIONAL TRANSFER PROVISIONS; REPURCHASE RIGHTS

       

      Section 3.1           Drag-Along Right.

       

      (a)          After the Closing Date, if the Stockholder Majority elect to effect a Company Sale, then such Stockholder Majority (the Stockholder Majority in its capacity as such under this
          Section 3.1(a), the “Drag-Along Representative”) may (but shall not have an obligation to) notify the Management Stockholders (each a “Drag-Along Party”) in writing (the “Drag-Along Notice”) at least fifteen (15)
          Business Days prior to the consummation of such Company Sale (the “Drag-Along Transaction”).  The Drag-Along Notice shall specify the identity of the prospective parties involved in the Drag-Along Transaction, a reasonable summary of the
          material terms and conditions of the Drag-Along Transaction and a copy of any form of agreement proposed to be executed in connection therewith (but only if available at the time the Drag-Along Notice is delivered).  If the Drag-Along
          Representative delivers such Drag-Along Notice: (A) the Drag-Along Party shall be deemed to approve the proposed Drag-Along Transaction (solely in such Drag-Along Party’s capacity as a Stockholder), (B) subject to Section 6.8, to the extent any
          vote or consent to the Drag-Along Transaction is required, the Drag-Along Party shall vote for and consent to such Drag-Along Transaction (including on behalf of all of its Equity Securities and on behalf of all Equity Securities with respect to
          which the Drag-Along Party has the power to direct the voting thereof) and shall waive any dissenter’s rights, appraisal rights or similar rights which the Drag-Along Party may have in connection therewith, (C) no Drag-Along Party shall raise any
          objections to the proposed Drag-Along Transaction, (D) the Drag-Along Party shall agree to sell its Drag-Along Pro Rata Share of each class of Equity Securities being sold in such Drag-Along Transaction
          (or such lesser number of Equity Securities if so designated by the Drag-Along Representative in the Drag-Along Notice) on the same terms and conditions as the Stockholder Majority, subject to clause
            (F) below and Section 3.1, (E) the Drag-Along Party shall execute all documents reasonably required to effectuate such Drag-Along Transaction, as determined by the Drag-Along Representative in good faith, (F) the Drag-Along Party shall be obligated to provide the same representations, warranties, covenants, agreements, indemnities (on a pro rata basis
          (but not a joint and several basis); provided that the aggregate liability (including any indemnification obligation) of the Drag-Along Party in the Drag-Along Transaction shall not exceed the
          consideration received by the Drag-Along Party for the sale of its Equity Securities in such transaction, other than in the case of fraud, intentional misrepresentation or willful misconduct on the part of the
          Drag-Along Party) and other obligations that the Drag-Along Representative agrees to provide in connection with such Drag-Along Transaction (other than any such obligations that relate specifically to a particular holder of Equity Securities,
          such as indemnification with respect to representations and warranties given by such holder regarding such holder’s title to and ownership of such Person’s Equity Securities, which shall be solely the responsibility of such holder), and (G) each
          Drag-Along Party shall take all other actions reasonably necessary or desirable, as reasonably determined by the Drag-Along Representative, to cause the consummation of such Drag-Along Transaction on the terms proposed by the Drag-Along
          Representative (including, in connection with a Drag-Along Transaction involving a sale of all or substantially all of the assets of the Company and its Subsidiaries, causing the Company and its Subsidiaries to enter into such agreements and
          arrangements with the applicable third party purchaser of such assets in connection with such Company Sale in a form and on terms and conditions reasonably acceptable to the Drag-Along Representative consistent with the foregoing). 
          Notwithstanding the foregoing, except with respect to any Drag-Along Party that is an employee of the Company or any of its Subsidiaries, no Drag-Along Party shall be required to execute agreements in connection with any Drag-Along Transaction
          containing non-competition, non-solicitation, no-hire and/or and confidentiality provisions which are more restrictive than those entered into by the Stockholders constituting the Stockholder Majority exercising its rights under this Section
            3.1; provided that with respect to any Drag-Along Party that is an employee of the Company or any of its Subsidiaries, such Drag-Along Party shall only be required to execute agreements in connection with any Drag-Along Transaction
          containing non-competition, non-solicitation, no-hire and/or and confidentiality provisions to the extent that such provisions are reasonable and customary, in light of the circumstances of the Drag-Along Transaction.  As used herein, “Drag-Along
            Pro Rata Share” of the Drag-Along Party means the number derived by multiplying (x) the total number of Equity Securities of such class held by the Drag-Along Party, by (y) a fraction, the numerator of which is the total number of Equity Securities of such class to be sold by the Stockholder Majority triggering this Section 3.1 in the Drag-Along Transaction and the denominator
          of which is the total number of the then outstanding Equity Securities of such class held by such Stockholder Majority.

       

        

      
        13

        
          

      

      (b)         The obligations of the Drag-Along Party with respect to the proposed
          Drag-Along Transaction are subject to the condition that upon the consummation of the Drag-Along Transaction, the Drag-Along Party, to the extent entitled thereto based on the Equity Securities held thereby, shall
          receive the same form of consideration as the Stockholder Majority triggering this Section 3.1 (less any applicable taxes or withholding obligations).

       

      (c)          If requested by the Drag-Along Representative, at least five (5) Business Days prior to the consummation
          of a Drag-Along Transaction, the Drag-Along Parties shall deliver to the Company to hold in escrow pending transfer of the consideration therefor, the duly endorsed certificate or certificates representing the Equity Securities held by the
          Drag-Along Party to be sold, and a stock power and limited power-of-attorney authorizing the Drag-Along Representative to take all actions reasonably necessary to sell or otherwise dispose of such Equity Securities.  In the event that a
          Drag-Along Party should fail to deliver such Equity Securities (or the certificates evidencing such Equity Securities), the Company shall cause the books and records of the Company to show that such Equity Securities are bound by the provisions
          of this Section 3.1 and that such Equity Securities may be Transferred to the purchaser in such Drag-Along Transaction.

       

        

      
        14

        
          

      

      (d)          If a proposed Drag-Along Transaction is consummated, then each Drag-Along Party shall bear its pro rata share (based upon the relative aggregate amounts of consideration received by such Drag-Along Party as compared to the aggregate amounts received by the other Stockholders participating in such
          Drag-Along Transaction) of all costs of sale of the Equity Securities pursuant to such Drag-Along Transaction to the extent such costs are not otherwise paid by the Company or the acquiring party.  Costs incurred by any Drag-Along Party in
          connection with a Drag-Along Transaction shall not be considered costs of the Drag-Along Transaction hereunder.

       

      (e)          Whenever more than one (1) class of Equity Securities is outstanding, the Board shall make all
          determinations of pro rata shares rights and obligations under this Section 3.1 reasonably and in good faith.

       

      (f)         Without limiting anything contained in this Agreement (including this Section 3.1), (i) any Company
          Sale may be structured as an auction and may be initiated by the delivery to the Company of a written notice that the Stockholder Majority triggering this Section 3.1 has elected to initiate an auction sale procedure, (ii) the Drag-Along
          Representative, on behalf of such Stockholder Majority, shall be entitled to take all steps reasonably necessary to carry out an auction of the Company, including selecting an investment bank, providing confidential information, selecting the
          winning bidder and negotiating the requisite documentation, and (iii) the Company and each Management Stockholder (whether a Drag-Along Party or otherwise) shall provide reasonable assistance with respect to these actions as reasonably requested
          by the Drag-Along Representative in connection therewith.

       

      (g)        Each Management Stockholder acknowledges that even if a Drag-Along Notice has been given, none of the
          Stockholder Majority triggering this Section 3.1, the Drag-Along Representative or the Company shall have any obligation to consummate any Drag-Along Transaction or shall have any liability to any Management Stockholder arising from,
          relating to or in connection with the pursuit, consummation, postponement, abandonment or terms and conditions of any such Drag-Along Transaction, except to the extent of any failure to comply with any express provision of this Section 3.1.

       

        

      
        15

        
          

      

      Section 3.2           Tag-Along Right.

       

      (a)         Subject to and without limiting Section 3.1,
          after the Closing Date, in the event any Stockholder(s) (each in its capacity as such, a “Tag-Along Transferor”), individually or together with other Stockholders, propose to Transfer, in a single transaction or series of related
          transactions, Equity Securities constituting, in the aggregate, fifty percent (50%) or more of the then issued and outstanding Equity Securities of the Company (other than pursuant to an Exempted Transfer) (the “Tag-Along Transaction”),
          such Tag-Along Transferor shall deliver a written notice (the “Tag-Along Notice”) to each Management Stockholder that holds a class of Equity Securities proposed to be sold in such Tag-Along Transaction (each, in respect of such class, a “Tag-Along

            Offeree”) at least twenty (20) days prior to consummating such Tag-Along Transaction, specifying the identity of the prospective Transferee(s), the number of the Tag-Along Transferor’s Equity Securities of such class to be Transferred (with
          respect to a particular class, the “Tag-Along Securities”), a summary in reasonable detail of the material terms and conditions of the Transfer and a copy of any form of agreement proposed to be executed in connection therewith (if
          available at the time the Tag-Along Notice is delivered).  Each Tag-Along Offeree may elect to participate in the contemplated Transfer on the same terms and conditions applicable to such class by delivering written notice to the Tag-Along
          Transferor within fifteen (15) days after delivery of the Tag-Along Notice, which notice shall specify the number of Equity Securities of the affected class that such Tag-Along Offeree desires to include in such proposed Transfer; provided that such number of Equity Securities shall not exceed the Tag-Along Pro Rata Share for such class.  If the Tag-Along Offerees fail to elect to include in a Tag-Along Transaction all of their Tag‐Along Pro
          Rata Share, then the other Tag-Along Offerees may elect to increase (on a pro rata basis) their respective Tag-Along Pro Rata Share by the portion of the Tag-Along Offerees’ Tag-Along Pro Rata Share that
          they elected not to include, within five (5) Business Days following the expiration of such fifteen (15)-day period after delivery of the Tag‐Along Notice (the “Tag Offer Period”).  If any Tag-Along Offeree does not give such notice prior
          to the expiration of the Tag Offer Period, then the Tag-Along Transferor may Transfer the Tag-Along Securities to any Person on terms and conditions that are not materially more favorable to the Tag‐Along Transferor than those set forth in the
          Tag-Along Notice at any time within one hundred and fifty (150) days after expiration of the Tag Offer Period (provided that if any governmental or other third party approval is required with
          respect to such Transfer, then such period shall be extended until a reasonable time after such approvals are obtained).  Any Tag-Along Securities not Transferred by the Tag-Along Transferor during such one hundred and fifty (150)-day period (as
          such period may be extended pursuant to the immediately preceding sentence) shall again be subject to the provisions of this Section 3.2 prior to any subsequent Transfer.  As used herein, “Tag-Along Pro Rata Share” of a Tag-Along
          Offeree means the number derived by multiplying (i) the total number of Equity Securities of such class then held by such Tag-Along Offeree, by (ii)
          a fraction, the numerator of which is the total number of Equity Securities of such class included in the Tag-Along Securities, and the denominator of which is the aggregate number of Equity Securities of such class then held by all of the
          Tag-Along Transferor(s).

       

      (b)        To the extent that one (1) or more Tag-Along Offerees exercise their right of participation pursuant to Section

            3.2(a), then, at the Tag-Along Transferor(s) option, either (i) the number of Equity Securities that the Tag-Along Transferor(s) and each other participating Tag‐Along Offeree may sell in the transaction in respect of the applicable class
          shall be reduced on a pro rata basis (based on the relative number of Equity Securities of the applicable class(es) that each such Person validly elects to sell in such transaction) to a number equal to
          the overall number of Equity Securities of the applicable class(es) to be sold to the prospective purchaser, or (ii) the aggregate number of Equity Securities of the applicable class(es) to be sold in the transaction shall be increased to
          accommodate the Equity Securities of the applicable class(es) of those participating Tag-Along Offerees pursuant to this Section 3.2.

       

      (c)         The Tag-Along Transferor shall not Transfer any Tag-Along Securities to any prospective Transferee if such
          prospective Transferee declines to purchase Equity Securities from participating Tag-Along Offerees, unless the Tag-Along Transferor acquires from each such participating Tag-Along Offeree (on the terms set forth in the Tag-Along Notice) its pro rata number of Equity Securities of the applicable class (or, if less, the number of Equity Securities of such class that such Tag-Along Offeree requested to Transfer to such Transferee) as such Tag‐Along
          Offeree would have been entitled to sell in such transaction pursuant to Section 3.2 at the same price and/or substantially the same terms and conditions as would be applicable in a direct sale of such Equity Securities to the proposed
          Transferee pursuant to Section 3.2.

       

        

      
        16

        
          

      

      (d)          In connection with any transaction pursuant to this Section 3.2: (i) each Management Stockholder
          shall be deemed to approve the proposed transaction (solely in  such Management Stockholder’s capacity as a Stockholder), (ii) subject to Section 6.8, to the extent any vote or consent to such transaction is required, each Stockholder shall vote
          for and consent to such transaction (including on behalf of all of its Equity Securities and on behalf of all Equity Securities with respect to which such Stockholder has the power to direct the voting) and shall waive any dissenter’s rights,
          appraisal rights or similar rights which such Stockholder may have in connection therewith, (iii) no Management Stockholder shall raise any objections to the proposed transaction, (iv) each participating Management Stockholder shall agree to sell
          its participating Equity Securities on the same terms and conditions as the Tag-Along Transferor, subject to clause (vi) below and Section 3.2(e), (v) each participating
          Management Stockholder shall execute all documents reasonably required to effectuate such transaction, as reasonably determined by the Tag-Along Transferor in good faith, (vi) each
          participating Management Stockholder shall be obligated to provide the same representations, warranties, covenants, agreements, indemnities (on a pro rata basis based on the applicable class (but not on a
          joint and several basis); provided that the aggregate liability (including any indemnification obligation) of a Tag-Along Offeree in the Tag-Along Transaction shall not exceed the consideration received by such Tag-Along Offeree for the
          sale of its Equity Securities in such transaction, other than in the case of fraud, intentional misrepresentation or willful misconduct on the part of the Tag-Along Offeree) and other obligations that the Tag-Along Transferor agrees to provide in
          connection with such transaction (other than any such obligations that relate specifically to a particular holder of Equity Securities, such as indemnification with respect to representations and warranties given by such holder regarding such
          holder’s title to and ownership of such Person’s Equity Securities, which shall be the sole responsibility of such holder), and (vii) each Tag-Along Offeree that participates in a Tag-Along Transaction shall take all other actions reasonably
          necessary or desirable, as reasonably determined by the Tag-Along Transferor in good faith, to cause the consummation of such Tag-Along Transaction on the terms proposed by the Tag-Along Transferor.

       

      (e)         Upon the consummation of the Tag-Along Transaction, the Tag-Along Offeree, to
          the extent entitled thereto based on the Equity Securities held by it, shall receive the same form of consideration as the Tag-Along Transferor (less any applicable taxes or withholding
          obligations).

       

      (f)         If requested by the Tag-Along Transferor, at least five (5) Business Days prior to the consummation of a
          Tag-Along Transaction, the Tag-Along Offerees participating in such Tag-Along Transaction shall deliver to the Company to hold in escrow pending transfer of the consideration therefor, the duly endorsed certificate or certificates representing
          the Equity Securities held by such Tag-Along Offerees to be sold, and a stock power and limited power-of-attorney authorizing the Tag-Along Transferor to take all actions reasonably necessary to sell or otherwise dispose of such Equity
          Securities.

       

      (g)        Each Management Stockholder shall pay its own costs of any sale and a pro rata share (based on the relative consideration to be received by such Management Stockholder in respect of the Equity Securities to be sold in connection with a Tag-Along Transaction) of the expenses
          incurred by the Tag-Along Transferor and the Company for the benefit of the Tag-Along Transferors and the Tag-Along Offerees as a group in connection with such Tag-Along Transaction to the extent such costs are not otherwise paid by the acquiring
          party.

          

        

      
        17

        
          

      

      (h)        The restrictions set forth in this Section 3.2
          shall not apply with respect to any Transfer of Equity Securities by a Stockholder to its Permitted Affiliates, or any Transfer to the GSO Stockholders pursuant to Section 2.2 (“Exempted Transfer”).

       

      (i)          Whenever more than one class of Equity Securities is outstanding, the Board shall make all determinations
          of pro rata shares, rights and obligations under this Section 3.2 reasonably and in good faith.

       

      (j)          Each Management Stockholder acknowledges that even if a Tag-Along Notice has been given, neither the
          Tag-Along Transferor(s) nor the Company shall have any obligation to consummate any Tag-Along Transaction and or shall have any liability to any Management Stockholder arising from, relating to or in connection with the pursuit, consummation,
          postponement, abandonment or terms and conditions of any such Tag-Along Transaction, except to the extent of failure to comply with any express provision of this Section 3.2 and such Tag-Along Transaction otherwise occurs.

       

      Section 3.3           Repurchase
            Rights.

       

      (a)        Company’s Rights to Repurchase Shares.  With
          respect to all Equity Securities held by any Management Stockholder and his or her Permitted Affiliates having been transferred Equity Securities by such Management Stockholder, during the period beginning on the date of the Management
          Stockholder’s Termination and ending on the date (the “Repurchase Deadline”) that is the twelve month anniversary of the later of (i) the date of such Termination; and (ii) the date of the exercise of any Vested Options, or the settlement
          of any Vested RSUs, held by the Management Stockholder as of the date of such Termination, the Company shall have the option to repurchase the Equity Securities held by the Management Stockholder or his or her Permitted Affiliates (“Call Right”);

          provided, however, that, notwithstanding the foregoing, in no event shall the Company repurchase any Equity Securities pursuant to the Call Right prior to the day immediately following the six-month anniversary of the date the Management
          Stockholder first purchased such Equity Securities (whether pursuant to the exercise of Vested Options, the settlement of Vested RSUs or otherwise).  For the avoidance of doubt, the Call Right may be exercised more than once, and the Company, in
          its sole discretion, may elect to purchase all or any portion of such Equity Securities, including purchasing only such Equity Securities that are subject to purchase at a lower Call Repurchase Price (as defined below).  The repurchase price
          payable by the Company to repurchase the Equity Securities upon exercise of the Call Right (“Call Repurchase Price”) shall be the Fair Market Value of the Equity Securities subject to the Call Right on the date of repurchase; provided,
          however, that, notwithstanding the foregoing, unless otherwise determined by the Compensation Committee of the Board (the “Compensation Committee”) after consultation with the Company’s Chief Executive Officer (or unless otherwise
          set forth in an applicable Award Agreement), in the event of the Management Stockholder’s Termination by the Company for Cause or the Management Stockholder’s material breach of any restrictive covenant under which such Management Stockholder
          owes obligations to the Company or any of its Affiliates, the Call Repurchase Price shall be the lesser of (A) Fair Market Value as of the date of repurchase and (B) Cost.  The Call Right shall be exercised by written notice (“Call Notice”)
          to the Management Stockholder given in accordance with Section 6.6 of this Agreement on or prior to the last date on which the Call Right may be exercised by the Company.

       

        

      
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      (b)         GSO Capital’s Rights to Repurchase Shares.  In the event that the Company elects not to exercise its
          Call Right under Section 3.3(a), (i) the Company shall provide written notice to GSO Capital (or, in its discretion, any other GSO Stockholder(s) designated by GSO Capital) and the GSO Stockholders on or at any time prior to the
          Repurchase Deadline of (A) its decision not to purchase all of the Equity Securities then held by a Management Stockholder and his or her Permitted Affiliates (collectively, the “Eligible Shares”), and (B) the number of such Eligible
          Shares, and (ii) GSO Capital (or any other applicable GSO Stockholder) and the GSO Stockholders shall have the option to purchase all of such Eligible Shares (the “Non-Company Call Right”) at the Call Repurchase Price; provided
          that in the event that any GSO Stockholder elects not to exercise its pro rata share of the Non-Company Call Right, then GSO Capital (or, in its discretion, any other GSO Stockholder(s) designated by GSO Capital) shall have the option to purchase
          all of such GSO Stockholder’s pro rata share of such Eligible Shares.  The Non-Company Call Right shall be exercised by a Call Notice to the Management Stockholder on or prior to the later of (x) the thirtieth (30th) day following receipt by GSO
          Capital (or, in its discretion, any other GSO Stockholder(s) designated by GSO Capital) and the GSO Stockholders of the written notice under clause (i) above, and (y) the Repurchase Deadline.

       

      (c)          Timing of Repurchase.  Subject to Section 3.3(d) below, the repurchase of Equity Securities
          pursuant to the exercise of a Call Right or a Non-Company Call Right shall take place on a date specified by the Company or GSO Capital (or the GSO Stockholder(s)), but in no event following the later of (i) the 60th day following the date of the Call Notice and (ii) the 10th day following the receipt by the Company or GSO
          Capital (or the GSO Stockholder(s)), as applicable, of all necessary governmental approvals; provided, however, that, notwithstanding the foregoing, if such repurchase date would otherwise occur prior to
          the day immediately following the six-month anniversary of the date the Management Stockholder first purchased such Equity Securities (whether pursuant to the exercise of Vested Options, the settlement of Vested RSUs or otherwise), then the
          repurchase of Equity Securities pursuant to the exercise of a Call Right or a Non-Company Call Right shall take place on the day immediately following the six-month anniversary of the date the Management Stockholder first purchased such Equity
          Securities.  On such date, the Management Stockholder and his or her Permitted Affiliates shall transfer the Equity Securities subject to the Call Notice to the Company or GSO Capital (or the GSO Stockholder(s)), as applicable, free and clear of
          all liens and encumbrances (other than any liens, encumbrances and restrictions arising under this Agreement, the Stockholders Agreement, the Charter, the Bylaws or by reason of federal securities laws and applicable state “blue sky” and
          comparable securities laws), and the Company or GSO Capital (or the GSO Stockholder(s)) shall pay to the Management Stockholder and his or her Permitted Affiliates the Call Repurchase Price.  The Management Stockholder shall use all commercially
          reasonable efforts to assist the Company or GSO Capital (or the GSO Stockholder(s)) in order to expedite all proceedings described in this Section 3.3.

       

      
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        (d)          Repurchase Disability.

         

          

      

      (i)          Notwithstanding anything to the contrary herein (except as otherwise provided by Section
            3.3(d)(iii)), the Company shall not be permitted to purchase any Equity Securities held by any Management Stockholder upon exercise of the Call Right if the Board determines in good faith that:

       

      (A)         The purchase of Equity Securities would render the Company or its subsidiaries unable to
          completely satisfy their obligations in the ordinary course of business taking into account any future transactions, capital expenditures or other budgeted cash outlays by the Company, including, without limitation, any proposed acquisition of
          any other entity by the Company or any of its subsidiaries;

       

      (B)          The Company is prohibited from purchasing the Equity Securities  by applicable law
          restricting the purchase by a corporation of its own shares; or

       

      (C)          The purchase of Equity Securities would constitute a breach of, default, or event of
          default under, or is otherwise prohibited by, the terms of any third party, unaffiliated, loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party (the “Financing Documents”).

       

      The events described in (i) through (iii) above each constitute a “Repurchase Disability.”

       

      (ii)         Except as otherwise provided by Section 3.3(d)(iii),
          in the event of a Repurchase Disability, the Company shall notify in writing the Management Stockholder or Involuntary Transferee with respect to whom the Call Right has been exercised (a “Disability Notice”).  The Disability Notice shall
          specify the nature of the Repurchase Disability.  The Company shall thereafter repurchase the Equity Securities described in the Call Notice as soon as reasonably practicable after all Repurchase Disabilities cease to exist (or the Company may
          elect, but shall have no obligation, to cause its nominee to repurchase the Equity Securities while any Repurchase Disabilities continue to exist).  In the event the Company suspends its obligations to repurchase the Equity Securities pursuant to
          a Repurchase Disability, (i) the Company shall provide written notice to each applicable Management Stockholder as soon as practicable after all Repurchase Disabilities cease to exist (the “Reinstatement Notice”); (ii) the Fair Market
          Value of the Equity Securities subject to the Call Notice shall be determined as of the date the Reinstatement Notice is delivered to the Management Stockholder, which Fair Market Value shall be used to determine the Call Repurchase Price in the
          manner described above; and (iii) the repurchase shall occur on a date specified by the Company within 10 days following the determination of the Fair Market Value of the Equity Securities to be repurchased as provided in clause (ii) above.

       

      (iii)        Notwithstanding Section 3.3(d)(i) and Section
            3.3(d)(ii), in the event of a Repurchase Disability, then, in the sole discretion of the Board, the Company may purchase the Equity Securities subject to the Call Right, as applicable, and, in lieu of cash consideration, issue a promissory
          note to such Management Stockholder in the amount of the Call Repurchase Price,  the terms of which promissory note shall be acceptable to the Company’s lenders and shall not result in a breach or violation of any of the Financing Documents.  The
          promissory note shall (i) bear simple interest at the prime rate as published in the Wall Street Journal on the date such payment is due and owing from such date to the date such payment is made, (ii)
          have a term of no more than five (5) years and (iii) have such other reasonable terms and conditions as shall be mutually agreed upon by the Company and the Management Stockholder.  All payments of interest accrued under the promissory note shall
          be paid only at the date of payment by the Company of the principal amount of such promissory note.

       

        

      
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      Section 3.4           Cooperation; Costs

       

      (a)         If the Company or the Holders of the Company’s Equity Securities enter into any negotiation or transaction
          for which Rule 506 (or any similar rule then in effect) promulgated under the 1933 Act, may be available with respect to the negotiation or transaction (including a merger, consolidation, or other reorganization), each Management Stockholder that
          is not an Accredited Investor (as defined in Rule 501 of the 1933 Act)  shall, if requested by the Company, appoint, or permit the Company to appoint, a purchaser representative (as defined in Rule 501 of the 1933 Act) reasonably acceptable to
          the Company.  If the purchaser representative is designated by the Company, the Company shall pay the fees of the purchaser representative, but if any Management Stockholder appoints another purchaser representative, the Management Stockholder
          shall be responsible for the fees of the purchaser representative so appointed.

       

      (b)         Each Management Stockholder shall bear its pro-rata share of costs of any transaction in which it sells
          Equity Securities (based upon the net proceeds received by such Management Stockholder in such transaction) to the extent such costs are incurred for the benefit of all holders of Common Stock, and are not otherwise paid by the Company or the
          acquiring party.

       

      ARTICLE IV.

       

      IPO; CERTAIN SALE RELATED RIGHTS AND OBLIGATIONS

       

      Section 4.1           IPO.  For so long as the
        GSO Stockholders own, in the aggregate, the number of Company Common Shares greater than or equal to forty percent (40%) of the issued and outstanding Company Common Shares, the GSO Majority shall (and at any time the Board shall) have the right to cause an IPO.  To the extent the GSO Majority or the
        Board elects to cause an IPO, each Management Stockholder shall agree, if requested by the GSO Majority or the Board in connection with the IPO, to convert or exchange its Equity Securities into other equity securities of the Company or equity
        securities of any other entity upon the same terms and conditions as the GSO Stockholders and take such other actions and enter into and modify such agreements reasonably necessary in order to facilitate the IPO.  The Board shall have the right to
        select, or delegate the selection of, any underwriter(s) in connection with any IPO pursuant to this Section 4.1 and shall have sole control over any such IPO process.

       

      

      
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      Section 4.2           Holdback Agreement

       

      (a)         Whenever the Company proposes to effect a registration of any of its equity
          securities under the 1933 Act for its own account (other than on Form S-4, S-8, or any similar successor form or another form used for a purpose similar to the intended use of such forms) in an underwritten
          offering or effects the registration of any Registrable Shares under the 1933 Act in connection with an underwritten offering (including in each case, in connection with an IPO pursuant to Section 4.1), if requested by the underwriters of
          such offering, each Management Stockholder holding Registrable Shares hereby agrees, or does agree by acquisition of its Registrable Shares, not to effect any sale or distribution, including any sale pursuant to Rule 144 under the 1933 Act, of
          any Registrable Shares during the Lock-up Period, except as part of such registration or in connection with the Company’s exercise of a Call Right pursuant to Section 3.3(a).  If requested by such managing underwriter, each such
          Management Stockholder agrees to execute a holdback agreement in customary form, consistent with the terms of this Section 4.2(a).

       

      Section 4.3          Participation in Registration.  No Management
        Stockholder may participate in any registration of Registrable Shares hereunder which is underwritten unless such Management Stockholder (a) agrees to sell its securities on the basis provided in any underwriting arrangements and (b) completes and
        executes all questionnaires, powers of attorney, underwriting agreements and other documents customarily required under the terms of such underwriting arrangements and provides such written information concerning itself as may be required for
        registration, including for inclusion in any registration statement, provided however, that for the avoidance of doubt, nothing in this Section 4.3 shall grant to any Management Stockholder an affirmative right to participate in any
        registration hereunder.

       

      Section 4.4           Coordination of Rule 144 Sales. 

        From time to time after the consummation of an IPO, the  Management Stockholders will use commercially reasonable efforts to coordinate any Rule 144 Transfers in accordance with this Section 4.4.  Prior to any such Rule 144 Transfer, a
        Management Stockholder (the “Notifying Investor”) shall provide the GSO Stockholders with at least three (3) Business Days’ prior notice (a “144 Notice”) of the Notifying Investor’s intention to transfer Company Common Shares for
        value in reliance on Rule 144.  The 144 Notice is intended to permit all  Management Stockholders electing to transfer Company Common Shares for value at such time to coordinate the timing and process for transferring their Company Common Shares in
        an orderly fashion.

       

      ARTICLE V.

       

      REPRESENTATIONS AND WARRANTIES

       

      Section 5.1           Representations and Warranties of
            Management Stockholders.  Each Management Stockholder (solely on behalf of itself and not with respect to any other Stockholder), hereby represents, warrants and acknowledges as follows:

       

      (a)        Generally.  As of the Closing Date:

       

      (i)          Status.  Such Management Stockholder, if not an individual, is duly organized
          and validly existing under the laws of its jurisdiction of organization (as the case may be).  Such Management Stockholder has the requisite power and authority (and if applicable, capacity) to own its property and to carry on its business as now
          conducted, to the extent material to its rights and obligations under this Agreement.

       

        

      
        22

        
          

      

      (ii)         Authority.  Such Management Stockholder has the requisite power and authority
          (and, if applicable, capacity) to execute and deliver this Agreement and to carry out its obligations hereunder in accordance with the terms and provisions hereof.  The execution, delivery and performance of this Agreement and the consummation of
          the transactions contemplated hereby have been duly authorized by all requisite action on the part of such Management Stockholder.  This Agreement has been duly executed and delivered by such Management Stockholder and constitutes the legally
          valid and binding obligation of such Management Stockholder, enforceable against it in accordance with its terms.

       

      (iii)        No Breach or Default.  The execution, delivery and performance by such
          Management Stockholder of this Agreement and the transactions contemplated hereby will not constitute a breach of any term or provision of, or a default under (A) any outstanding indenture,
          mortgage, loan agreement or other similar Contract or agreement to which such Management Stockholder or any of its Affiliates is a party or by which it or any of its Affiliates or its or their property is bound, (B) if not an individual, its certificate or articles of incorporation or bylaws or other governing documents, (C) any law, rule or regulation applicable to such Management Stockholder or its
          properties or assets, or (D) any order, writ, judgment or decree applicable to such Management Stockholder, except (in the case of clauses (A), (C) and (D)) as would not, individually or in
          the aggregate, be reasonably expected to have a material and adverse effect on such Management Stockholder, the Company, its Affiliates or the transactions contemplated hereby).

       

      (iv)        Consents and Approvals.  All material consents, licenses, approvals and
          authorizations, if any, and all material filings and registrations, required from any governmental body, authority, bureau or agency for or on the part of such Management Stockholder or any of its Affiliates in connection with its execution and
          delivery of this Agreement and its holding of Equity Securities have been obtained on or prior to the Closing Date.

       

      (v)          Company Competitor.  Such Management Stockholder is
          not a Company Competitor.

       

      (b)          Investment Representations.

       

      (i)          Such Management Stockholder is acquiring its Equity
          Securities for its own account and not for the account of any other Person.  Such Management Stockholder is acquiring its Equity Securities solely for investment and not with a view to, or for resale in connection with, the distribution or other
          disposition thereof either currently or after the passage of a fixed or determinable period of time or upon the occurrence or non-occurrence of any predetermined event or circumstance in violation of the 1933 Act.  Such Management Stockholder
          understands that dispositions of its Equity Securities can be made only (A) as explicitly permitted or contemplated under the terms of this Agreement, and (B) in compliance with the 1933 Act and the rules and regulations of the Securities and
          Exchange Commission promulgated thereunder and all applicable state securities and “blue sky” laws; and such Management Stockholder understands that the Company is under no obligation to register the offer or sale of any Equity Securities in any
          jurisdiction whatsoever or to assist the Management Stockholders in complying with any exemption from registration under the securities or similar laws of any jurisdiction whatsoever (except to the extent expressly provided in this Agreement).

       

        

      
        23

        
          

      

      (ii)          Such Management Stockholder understands that it may bear the economic risk of an
          investment in the Equity Securities for an indefinite period of time, and such Management Stockholder’s financial situation is such that it can afford to bear the economic risk of holding its Equity Securities for an indefinite period of time and
          suffer a complete loss of its investment in the Company.

       

      (iii       Such Management Stockholder further acknowledges that there are substantial risks in
          making an investment in the Company (including loss of the entire amount of such investment), that such Management Stockholder is capable of evaluating the merits and risks of the investment in the Company and that such Management Stockholder has
          evaluated such risks and determined that the Common Stock is a suitable investment for such Management Stockholder.  Such Management Stockholder has such knowledge and experience in business, financial and tax matters, including experience in
          investing in non-listed and non-registered securities, and is a sophisticated investor capable of utilizing the information made available to it in connection with its investment in the Equity Securities to evaluate the merits and risks of its
          investment in the Company, to make an informed investment decision with respect thereto and to protect its interests in connection with such investment.

       

      (iv)        Such Management Stockholder and its legal, tax, accounting and financial advisors have
          been provided an opportunity to ask questions of and receive information from a Person or Persons acting on behalf of the Company concerning the investment in the Company and such other matters as such Management Stockholder and any of its
          advisors have deemed necessary or desirable.

       

      Section 5.2           Survival.  Notwithstanding
        anything to the contrary in this Agreement, the provisions of this Article V shall survive the expiration or sooner termination of this Agreement.

       

      ARTICLE VI.

       

      MISCELLANEOUS

       

      Section 6.1           Termination.

       

      (a)         This Agreement shall automatically terminate immediately upon the earlier to occur of (i) an IPO and (ii) the listing
            of the Company (or a successor entity or Affiliate thereof) on an Established OTC Marketplace or on a national securities exchange; provided that, notwithstanding the foregoing, the
            rights and obligations contemplated by Section 4.4, shall survive any termination pursuant to the preceding clause (i) or clause (ii).

       

      (b)         Notwithstanding any of the foregoing, the provisions of this Article VI (other than Section 6.8)
          shall survive any termination of this Agreement.  Nothing in this Section 6.1 shall relieve any party from liability for any breaches of any provision of this Agreement prior to the termination thereof in accordance with the foregoing.

          

        

      
        24

        
          

      

      Section 6.2          Amendments and Waivers.  No
        amendment, alteration or modification of this Agreement or waiver of any provision of this Agreement shall be effective against any of the parties without the prior written approval of the Board; provided that any amendment that materially
        and disproportionately adversely affects the obligations or rights of any Management Stockholder shall require the consent of each Management Stockholder so adversely affected.  The failure of any party to enforce any provision of this Agreement
        shall not be construed as a waiver of such provision and shall not affect the right of such party thereafter to enforce each provision of this Agreement in accordance with its terms.

       

      Section 6.3           Successors, Assigns and Transferees.  This Agreement
        shall bind and inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns.

       

      Section 6.4           Legends.  All certificates
        representing Equity Securities held by each Management Stockholder shall bear a legend substantially in the following form:

       

      “THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A STOCKHOLDERS AGREEMENT (A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY).  NO TRANSFER, SALE, ASSIGNMENT, PLEDGE,
        HYPOTHECATION OR OTHER DISPOSITION OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY BE MADE EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF SUCH STOCKHOLDERS AGREEMENT AND (A) PURSUANT TO A REGISTRATION STATEMENT EFFECTIVE UNDER THE SECURITIES ACT
        OF 1933, AS AMENDED, OR (B) PURSUANT TO AN EXEMPTION FROM REGISTRATION THEREUNDER.  THE HOLDER OF THIS CERTIFICATE, BY ACCEPTANCE OF THIS CERTIFICATE, AGREES TO BE BOUND BY ALL OF THE PROVISIONS OF SUCH STOCKHOLDERS AGREEMENT.”

       

      Section 6.5          Notices.  All notices and
        other communications required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified if delivered during normal business hours of the recipient, if not, then on the
        next Business Day, (b) when sent by confirmed facsimile if sent during normal business hours of the recipient, if not, then on the next Business Day, provided that a copy of such notice is also sent via nationally recognized overnight
        courier, specifying next day delivery, with written verification of receipt, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, (d) two (2) Business Days after deposit with a
        nationally recognized overnight courier, specifying next day delivery, with written verification of receipt or (e) if delivered by email, on the day of delivery to the email address specified in this Section 6.5, provided that a
        copy of such notice is also sent via nationally recognized overnight courier, specifying next day delivery, with written verification of receipt.  All communications shall be sent to such party’s address as set forth below or at such other address
        as the party shall have furnished to each other party in writing in accordance with this provision:

       

      

      
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      if to the Company, to:

       

      Legacy Reserves Inc.

      303 W. Wall Street, Suite 1800

      Midland, TX 79701

      Attention: Albert E. Ferrara, III

      Email Address: bferrara@legacyreserves.com

      

      

      with a copy (which shall not constitute notice) to:

       

      Sidley Austin LLP

      1000 Louisiana Street, Suite 5900

      Houston, TX 77002

      Email Addresses: gvlahakos@sidley.com; vsekhon@sidley.com

      Attention: George J. Vlahakos & Vijay S. Sekhon

      

      

      if to the GSO Stockholders, to:

       

      with a copy (which shall not constitute notice) to:

       

      Latham & Watkins LLP

      885 Third Avenue

      New York, NY 10011

      Facsimile Number: (212) 751-4864

      Email Address: jonathan.rod@lw.com

      Attention: Jonathan R. Rod, Esq.

       

      Section 6.6          Further Assurances.  Without limiting anything contained
        in this Agreement and subject thereto, at any time or from time to time after the Closing Date, the parties hereto agree to cooperate with one another, and at the request of any other party, to execute and deliver any further reasonable instruments
        or documents and to take all such further reasonable action as any other party may reasonably request in order to evidence or effectuate the consummation of the transactions contemplated hereby and to otherwise carry out the intent of the parties
        hereunder.

       

      Section 6.7          Entire
            Agreement.  Except as otherwise expressly set forth herein, this Agreement and any other agreements contemplated hereby embody the complete agreement and understanding among the parties hereto with respect to the subject matter
        hereof and supersedes and preempts any prior understandings, agreements or representations by or among the parties, written or oral, that may have related to the subject matter hereof in any way.  For the avoidance of doubt, nothing in this Section
          6.7 shall affect, amend, limit or otherwise modify the rights and obligations of any Person (including the parties hereto) under any other written agreement to which such Person is a party (collectively, “Other Agreements”); provided,
        however, that in the event of any contradiction or inconsistency between the provisions of this Agreement and the provisions of any Other Agreement, the provisions of this Agreement shall control with respect to the Company, its Subsidiaries
        and the Management Stockholders.

       

      

      
        26

        
          

      

      Section 6.8         Voting
            Rights.  Each Management Stockholder hereby appoints and constitutes GSO Capital, the sole and exclusive attorney and proxy of perpetual duration, of such Management Stockholder with full power of substitution and resubstitution, to
        the full extent of Management Stockholder’s rights with respect to all of his or her Equity Securities (as equitably adjusted for any reclassification, subdivision, combination or similar action) of the Company (or any successor thereto) held by
        such Management Stockholder, to vote such Equity Securities, as applicable, and to exercise all voting and other consent rights that such Management Stockholder has with respect to such Equity Securities, as applicable, at every meeting (and, in
        each case, any adjournment or postponement thereof) of the holders of Equity Securities at which any of the holders of Equity Securities are entitled to vote, in every written consent in lieu of any such meeting (or adjournment or postponement) or
        otherwise, in each case with respect to any matter presented to the holders of equity interests of the Company of the same class as the Equity Securities, to the same extent and with the same effect as if such Equity Securities were registered in
        the name of GSO Capital in the books and records of the Company (or any successor thereto) and under any applicable laws and regulations governing the rights of holders of equity interests of a Delaware corporation (or the laws and regulations
        governing the rights of holders of equity interests of any successor entity of the Company). The foregoing proxy shall include the right of GSO Capital to sign, as holder of this irrevocable proxy on behalf of the Management Stockholder, any
        certificate, instrument, agreement or other document relating to the Company (or any successor thereto) that applicable law may permit or require to cause its Equity Securities to be voted or its consent to be given as a member of the Company (or
        any successor thereto) in accordance with this proxy.

       

      Section 6.9          Confidentiality.  Each Management Stockholder shall maintain in strict confidentiality any
          confidential, non-public or proprietary information provided pursuant to this Agreement or otherwise in connection with its investment in the Company, including any information with regard to the business, customers, assets or affairs of the
          Company or any of its Subsidiaries (“Confidential Information”) and shall not disclose such information to third parties without the prior written consent of the Board, except: (a) to the extent such Confidential Information has become generally
          available to the public (other than through disclosure in contravention of this Agreement), (b) to any Person to which such Management Stockholder offers to Transfer any Equity Securities (provided that (i) such Transfer would be permitted by the
          terms of this Agreement, and (ii) the prospective Transferee has, prior to disclosure of any Confidential Information thereto, first entered into a customary confidentiality agreement with respect to such Confidential Information in form and
          substance reasonably satisfactory to the Board), (c) to any other Stockholder or any member of the Board, (d) to the extent required to be disclosed by such Management Stockholder or its Affiliates pursuant to applicable securities laws or stock
          exchange rules, (e) for disclosures occurring in the good faith performance of such Management Stockholders duties as an employee (to the extent such Management Stockholder is an employee of the Company or one or more of its Subsidiaries) and (f)
          with the Company’s prior written consent.  If any Management Stockholder (or any other recipient of Confidential Information obligated to comply with this Section 6.9) is requested to disclose Confidential Information by Applicable Law or any
          Governmental Authority having jurisdiction over such Management Stockholder or other recipient, such Management Stockholder or other recipient will promptly notify the Company to permit the Company or its applicable Subsidiary to seek a
          protective order or other reasonable assurance that confidential treatment will be accorded to such Confidential Information and such Management Stockholder or other recipient will use reasonable efforts to cooperate with the Company’s efforts to
          seek such protective order or other reasonable assurance.  If, in the absence of a protective order, such Management Stockholder or other recipient is compelled as a matter of Applicable Law to disclose any such Confidential Information in any
          proceeding or pursuant to legal process, such Management Stockholder or other recipient may disclose to the Governmental Authority compelling disclosure only the part of such Confidential Information as, at the advice of its counsel, is required
          by Applicable Law to be disclosed (in which case, prior to such disclosure, such  Management Stockholder or other recipient will advise and consult with the Company or the relevant Subsidiary and their respective counsel as to such disclosure and
          the nature and wording of such disclosure) and such Management Stockholder or other recipient will use commercially reasonable efforts to obtain reasonable assurance that confidential treatment will be accorded to such Confidential Information.

       

        

      
        27

        
          

      

      Section 6.10        Delays or Omissions.  It is agreed that no delay or
        omission to exercise any right, power or remedy accruing to any party, upon any breach, default or noncompliance by another party under this Agreement, shall impair any such right, power or remedy, nor shall it be construed to be a waiver of any
        such breach, default or noncompliance, or any acquiescence therein, or of or in any similar breach, default or noncompliance thereafter occurring.  It is further agreed that any waiver, permit, consent or approval of any kind or character on the
        part of any party hereto of any breach, default or noncompliance under this Agreement or any waiver on such party’s part of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically
        set forth in such writing.  All remedies, either under this Agreement, by law, or otherwise afforded to any party, shall be cumulative and not alternative.

       

      Section 6.11         Governing Law; Jurisdiction; Waiver of
            Jury Trial.  This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware without reference to the conflicts of law principles thereof to the extent such principles would require or permit
        the application of laws of another jurisdiction.  The parties hereto irrevocably submit to the exclusive jurisdiction of the Delaware Court of Chancery (or, if the Delaware Court of Chancery shall be unavailable, any other court of the State of
        Delaware or, in the case of claims to which the federal courts have exclusive subject matter jurisdiction, any federal court of the United States of America sitting in the State of Delaware) in any action arising out of or relating to this
        Agreement, and hereby irrevocably agree that all claims in respect of such action may and shall be heard and determined in such state or federal court.  The parties hereto irrevocably waive, to the fullest extent they may effectively do so, the
        defense of an inconvenient forum to the maintenance of such action or proceeding and any rights they may have to transfer or change venue of such action or proceeding.  The parties hereto further agree, to the fullest extent permitted by law, that
        judgment against any of them in any action or proceeding contemplated above shall be conclusive and may be enforced in any other jurisdiction within or outside the United States of America by suit on the judgment.  EACH OF THE PARTIES ACKNOWLEDGES
        AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN
        RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED HEREBY.  (A) EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS
        REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (B) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH PARTY MAKES THIS WAIVER
        VOLUNTARILY AND (D) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 6.11.

       

      

      
        28

        
          

      

      Section 6.12         Severability.  Whenever possible, each provision of this
        Agreement shall be interpreted in such manner as to be effective and valid under Applicable Law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any Applicable Law or rule in any
        jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or
        unenforceable provision had never been contained herein.

       

      Section 6.13         Enforcement.  Each party hereto acknowledges that money
        damages would not be an adequate remedy in the event that any of the covenants or agreements in this Agreement are not performed in accordance with its terms, and it is therefore agreed that in addition to and without limiting any other remedy or
        right it may have, the non-breaching party will have the right to an injunction, temporary restraining order or other equitable relief in any court of competent jurisdiction enjoining any such breach and enforcing specifically the terms and
        provisions hereof.

       

      Section 6.14          Titles and Subtitles.  The titles of the sections and
        subsections of this Agreement are for convenience of reference only and are not to be considered in construing this Agreement.

       

      Section 6.15       No Recourse.  Notwithstanding
        anything to the contrary in this Agreement, the Company and each Management Stockholder agree and acknowledge that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement, shall be had against
        any former, current or future director, officer, employee, agent, advisor, attorney, representative, general or limited partner, stockholder or member of any Stockholder or of any Affiliate or assignee thereof, or any former, current or future
        director, officer, employee, agent, advisor, attorney, representative, general or limited partner, stockholder or member of the foregoing (each a “Stockholder Affiliate”), whether by the enforcement of any judgment or assessment or by any
        legal or equitable proceeding, or by virtue of any statute, regulation, theory or other Applicable Law or otherwise, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be
        incurred, whether by piercing of the corporate (or limited liability company or limited partnership) veil, by a claim (whether at law, in equity, in contract, in tort or otherwise), by any Stockholder Affiliate or assignee thereof, as such for any
        obligation of any Management Stockholder under this Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on, in respect of or by reason of such obligations or their creation.

       

      Section 6.16         Counterparts; Facsimile Signatures.  This Agreement may
        be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument.  This Agreement may be executed by facsimile signature(s).

       

      Section 6.17        No Partnership.  Nothing in this Agreement and no actions
        taken by the parties hereto under this Agreement shall constitute a partnership, joint venture, association or other co-operative entity between any of the parties hereto or cause any party hereto to be deemed the agent of any other party for any
        purpose.

       

      [Remainder of page intentionally left blank]

       

      
        29

        
          

      

      IN WITNESS WHEREOF, the parties hereto have executed this Management Stockholders Agreement as of the Closing Date.

       

      	 	
              LEGACY RESERVES INC.

            
	 	 
	 	
              By:

            	/s/ James Daniel Westcott	 
	 	
              Name: James Daniel Westcott

            
	 	
              Title: Chief Executive Officer

            

      

      

      
        
          

      

      IN WITNESS WHEREOF, the parties hereto have executed this Management Stockholders Agreement as of the Closing Date.

       

      	 	
              GSO ENERGY SELECT OPPORTUNITIES FUND AIV-3LP

            
	 	 
	 	
              By:

              

            	/s/ Marisa J. Beeney	 
	 	
              Name: Marisa J. Beeney

            
	 	
              Title: Authorized Signatory

            
	 	 
	 	
              GSO ENERGY PARTNERS-A LP

            
	 	 
	 	
              By:

            	/s/ Marisa J. Beeney	 
	 	
              Name: Maris J. Beeney

            
	 	
              Title: Authorized Signatory

            
	 	 
	 	
              GSO ENERGY PARTNERS-B LP

            
	 	 
	 	
              By:

            	/s/ Marisa J. Beeney	 
	 	
              Name: Marisa J. Beeney

            
	 	
              Title: Authorized Signatory

            
	 	 
	 	
              GSO ENERGY PARTNERS-C LP

            
	 	 
	 	
              By:

            	/s/ Marisa J. Beeney	 
	 	
              Name: Marisa J. Beeney

            
	 	
              Title: Authorized Signatory

            
	 	 
	 	
              GSO ENERGY PARTNERS-C II LP

            
	 	 
	 	
              By:

            	/s/ Marisa J. Beeney	 
	 	
              Name: Marisa J. Beeney

            
	 	
              Title: Authorized Signatory

            
	 	 
	 	
              GSO ENERGY PARTNERS-D LP

            
	 	 
	 	
              By:

            	/s/ Marisa J. Beeney	 
	 	
              Name: Marisa J. Beeney

            
	 	
              Title: Authorized Signatory

            

      

      

      
        
          

      

      	 	
              GSO PALMETTO OPPORTUNISTIC

               INVESTMENT PARTNERS LP

            
	 	 
	 	
              By:

            	/s/ Marisa J. Beeney	 
	 	
              Name: Marisa J. Beeney

            
	 	
              Title: Authorized Signatory

            
	 	 
	 	
              GSO CSF III AIV-3 LP

            
	 	 
	 	
              By:

            	/s/ Marisa J. Beeney	 
	 	
              Name: Marisa J. Beeney

            
	 	
              Title: Authorized Signatory

            
	 	 
	 	
              GSO ADGM I LGCY LP

            
	 	 
	 	
              By:

            	/s/ Marisa J. Beeney	 
	 	
              Name: Marisa J. Beeney

            
	 	
              Title: Authorized Signatory

            

       

      

      
        
          

      

      
        SCHEDULE  1

      

       

      GSO STOCKHOLDERS

       

      
        
          	

                	1.	
                  GSO ENERGY SELECT OPPORTUNITIES FUND AIV-3LP

                

        

      

      
        
          	

                	2.	
                  GSO ENERGY PARTNERS-A LP

                

        

      

      
        
          	

                	3.	
                  GSO ENERGY PARTNERS-B LP

                

        

      

      
        
          	

                	4.	
                  GSO ENERGY PARTNERS-C LP

                

        

      

      
        
          	

                	5.	
                  GSO ENERGY PARTNERS-C II LP

                

        

      

      
        
          	

                	6.	
                  GSO ENERGY PARTNERS-D LP

                

        

      

      
        
          	

                	7.	
                  GSO PALMETTO OPPORTUNISTIC INVESTMENT PARTNERS LP

                

        

      

      
        
          	

                	8.	
                  GSO CSF III AIV-3 LP

                

        

      

      
        
          	

                	9.	
                  GSO ADGM I LGCY LP

                

           

          

        

      

      
        
          

      

      EXHIBIT A

       

      Joinder Agreement

       

      Reference is hereby made to the Management Stockholders Agreement (the “Management Stockholders Agreement”), dated as of December 11, 2019, by and among by and among Legacy Reserves Inc., a
        Delaware corporation, the GSO Stockholders and the Management Stockholders party thereto.

       

      The undersigned agrees, by execution hereof, to become a party to, to adhere to and to be bound by the terms and provisions of the Management Stockholders Agreement as a Management Stockholder
        party thereto and to have the rights and obligations of a Management Stockholder.  Without limiting the generality of the foregoing, the undersigned hereby makes the representations and warranties set forth in Section 5.1 of the Management
        Stockholders Agreement anew, with respect to itself, as of the date of this Joinder Agreement.  Capitalized terms used but not defined herein shall have the meanings assigned to them in the Management Stockholders Agreement.

       

      [Remainder of page intentionally left blank]

       

      
        
          

      

      IN WITNESS WHEREOF, the undersigned has executed this Joinder Agreement as of __________ ___, ____.

       

      
        	
                [NAME OF NEW MANAGEMENT STOCKHOLDER]

              
	 
	

              	 
	
                Name:

              
	
                Title:

              

      

      

      

      Acknowledged by:

       

      LEGACY RESERVES INC.

      

      

      	
              By:

            	 	 
	
              Name:

            	 
	
              Title:

            	 

       

      

      
        
          

      

      EXHIBIT B

       

      Form of ROFO Response

       

      This ROFO Response is made as of the date written below by the undersigned GSO Stockholder(s) in accordance with the Management Stockholders Agreement dated as of December 11, 2019 (the “Management Stockholders
          Agreement”) by and among the Company and the other Persons who are or become party thereto from time to time.  Capitalized terms used but not defined herein shall have the meaning ascribed to such terms in the Management Stockholders
        Agreement.

       

      In response to the ROFO Notice dated as of [●] delivered by the Transferring ROFO Management Stockholder, regarding a proposed Transfer of ROFO Shares as set forth in such ROFO Notice, the undersigned GSO
        Stockholder(s) hereby confirm(s) [its/their] good faith interest in acquiring [●] ROFO Shares in accordance with the Management Stockholders Agreement at the following Desired Price per Share: $[●].

       

      	 	
              [NAME OF GSO STOCKHOLDER(S)]

            
	 	
              By:

            
	 	
              Name:

            
	 	
              Title:

            
	 	
              Date:

            

       

      

      
        
          

      

      EXHIBIT C

      

      

      Form of Spousal Consent and Acknowledgment to the

      Management Stockholders Agreement of

      Legacy Reserves Inc.

      

      

      I acknowledge that I have read the foregoing Management Stockholders Agreement of Legacy Reserves Inc. dated December 11, 2019 (the “Management Stockholders Agreement”), and that I
        understand its contents.  I am aware that by its provisions my spouse agrees to sell all shares of stock of Legacy Reserves Inc. held by my spouse on this date, or hereafter acquired, upon the occurrence of certain events.  I am further aware that
        included in such sale shall be any interest I have in any such shares (including, without limitation, any right or interest by operation of applicable community or marital property laws) and such interest of any of my heirs, legatees or other
        transferees.  I hereby consent to such sale, approve the provisions of the Management Stockholders Agreement, agree to sell any interest I may have in any such shares as required by the Management Stockholders Agreement, agree that those shares and
        my interest in them are subject to the provisions of the Management Stockholders Agreement and direct the personal representative of my estate to promptly comply with all of the provisions of the Management Stockholders Agreement.  I further
        covenant and agree that I will take no action at any time to hinder the operation of the Management Stockholders Agreement as to the shares of capital stock of Legacy Reserves Inc. or any interest which I or any of my heirs, legatees or other
        transferees may have in them.

       

      

      	
              Date:

            	
              Spouse:

            
	 	 
	 	
              [Print or type name as signed above]Exhibit 10.4

    

    

    

    
      Execution Version

      

      

      LEGACY RESERVES INC.

      

      

      SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT

      

      

      SECOND AMENDED AND RESTATED EMPLOYMENT AGREEMENT (this “Agreement”) dated as of December 11, 2019 (the “Effective Date”), between Legacy Reserves Services
        LLC, a Texas limited liability company (the “Employer”), and James Daniel Westcott (the “Employee”).

      

      

      W I T N E S S E T H

      

      

       WHEREAS, the Employer and Employee are party to an amended
        and restated employment agreement dated as of October 31, 2018 (the “Prior Employment Agreement”);

      

      

      WHEREAS, the Employer desires to continue to employ the
        Employee as the Chief Executive Officer of Legacy Reserves Inc., a Delaware corporation (the “Company”); and

      

      

      WHEREAS, the Employer and the Employee wish to amend and
        restate the Prior Employment Agreement, effective as of the date hereof.

      

      

      NOW, THEREFORE, in consideration of the foregoing, of the
        mutual promises contained herein and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

      

      

      1.           POSITION AND
          DUTIES.

       

      (a)          During the Employment Term (as defined in Section 2 hereof), the Employee shall serve as the Chief Executive Officer of the Company. In this capacity, the Employee shall have the duties, authorities and
          responsibilities commensurate with the duties, authorities and responsibilities of persons in similar capacities in similarly sized companies, and such other duties, authorities and responsibilities as may reasonably be assigned to the Employee
          that are not inconsistent with the Employee’s position as Chief Executive Officer of the Company. The Employee’s principal place of employment shall be in Midland, Texas, provided that the Employee understands and agrees that the Employee may be required to travel from time to time for business purposes. The Employee shall report directly to the Board of Directors of the Company
          (the “Board”).

       

      (b)       During the Employment Term, the Employee shall devote
          substantially all of the Employee’s business time, energy, business judgment, knowledge and skill to the performance of the Employee’s duties with the Employer and the Company, provided
          that the foregoing shall not prevent the Employee from (i) serving on the boards of directors of non-profit organizations and, with the prior written approval of the Board, other for profit companies, (ii) participating in charitable, civic,
          educational, professional, community or industry affairs, and (iii) managing the Employee’s passive personal investments so long as such activities in the aggregate do not materially interfere or conflict with the Employee’s duties hereunder or
          create a potential business or fiduciary conflict or materially interfere with the performance of the Employee’s obligations to the Employer or the Company under this Agreement. The for profit company boards on which the Employee currently
          serves, all of which have been approved by the Board, are listed on Exhibit A hereto.

       

      
        
          

      

      2.          EMPLOYMENT TERM. The Employer agrees to employ the Employee pursuant to the terms of this Agreement, and the Employee agrees to be so employed, for a term commencing as of the
          Effective Date until terminated in accordance with Section 7  hereof, subject to Section 8
          hereof. The date of any such termination shall be referred to herein as the “Termination Date”, and the period of time between the Effective Date and the termination of
          the Employee’s employment hereunder shall be referred to herein as the “Employment Term.”

       

      3.         BASE SALARY. During the Employment Term, the Employer agrees to pay the Employee a base salary at an annual rate of not less than $675,000, payable in accordance with the regular
          payroll practices of the Company, but not less frequently than monthly. The Employee’s Base Salary shall be subject to annual review by the Board (or a committee thereof), and may be adjusted upward (but not downward) from time to time by the
          Board. The base salary as determined herein and adjusted from time to time shall constitute “Base Salary” for purposes of this Agreement.

       

      4.           ANNUAL BONUS. During the Employment Term, the Employee shall be eligible to receive an annual incentive payment under the Company’s annual bonus plan as may be in effect from time to
          time (the “Annual Bonus”) based on a target bonus opportunity of at least 110% of the Employee’s Base Salary (the “Target Bonus”), upon the attainment of one or more pre-established performance goals established by the Board or the Company’s Compensation Committee in good faith after consultation with the Employee. Subject to Section 7 hereunder, any such Annual Bonus shall be paid by March 15 of the year following the performance year, subject to the
          Employee’s continued employment on the applicable payment date. Notwithstanding the foregoing, for 2019 the Employee shall participate in the Company’s Legacy Reserves 2019 Key Employee Incentive Plan (the “2019 KEIP”) in lieu of receiving any Annual Bonus described in this Section 4, and any references to Annual Bonus or Target Bonus herein shall not include any bonus payable under the 2019 KEIP,
          which shall be governed solely by the terms therein.

       

      5.         LONG-TERM INCENTIVE COMPENSATION. Awards of equity interests of the Company and/or other forms
          of equity- based compensation to the Employee on or after the Effective Date may be made from time to time during the Employment Term in amounts determined by the Board in its discretion.

       

      6.           EMPLOYEE
          BENEFITS.

       

      (a)         BENEFIT PLANS. During the Employment Term, the Employee shall be entitled to participate in any employee benefit plan that the Company has adopted or may adopt, maintain or contribute to for the benefit
          of its senior executives, subject to satisfying the applicable eligibility requirements, except to the extent such plans are duplicative of the benefits otherwise provided to hereunder. The Employee’s participation will be subject to the terms of
          the applicable plan documents and generally applicable Company policies. Notwithstanding the foregoing, the Employer may modify or terminate any employee benefit plan at any time.

       

      
        
          

      

      (b)        VACATIONS. During the Employment Term, the Employee shall be entitled to vacation in accordance with the Company’s policy as in effect from time to time, but not less than four (4) weeks of paid vacation
          per calendar year (as prorated for partial years). Vacation may be taken at such times and intervals as the Employee determines, subject to the business needs of the Company.

       

      (c)         BUSINESS EXPENSES. Upon presentation of reasonable substantiation and documentation as the Company may specify from time to time, the Employee shall be
          reimbursed in accordance with the Employer’s and Company’s expense reimbursement policy, for all reasonable out-of-pocket business expenses incurred and paid
          by the Employee during the Employment Term and in connection with the performance of the Employee’s duties hereunder.

       

      7.            TERMINATION. The Employee’s employment and the Employment Term shall terminate on the first of the following to occur:

       

      (a)         DISABILITY. Upon ten (10) days’ prior written notice by the Employer to the Employee of termination due to Disability. For purposes of this Agreement, “Disability” means the determination by a physician selected by the Employer that the Employee has been unable to perform the Employee’s usual and customary duties under this Agreement for a period of at least one
          hundred twenty (120) consecutive days or a non-consecutive period of one hundred eighty (180) days during any twelve-month period as a result of incapacity due to mental or physical illness or disease. At any time and from time to time, upon
          reasonable request by the Employer, the Employee will submit to reasonable medical examination for the purpose of determining the Employee’s ability to perform the essential functions of the job position, with or without any reasonable
          accommodation.

       

      (b)          DEATH. Automatically upon the date of death of the Employee.

       

      (c)        CAUSE. Immediately upon written notice by the Employer to the Employee of a termination for Cause. “Cause”
          shall mean any of the following:

       

      (i)        the Employee’s conviction of, or plea of nolo
          contendere to, any felony or to any crime or offense causing substantial harm to the Employer or the Company or any of their direct or indirect subsidiaries (whether or not for personal gain) or involving acts of theft, fraud, embezzlement, or
          moral turpitude or similar conduct;

       

      (ii)       willful malfeasance in the conduct of the Employee’s
          duties, including, but not limited to, (A) willful and intentional misuse or diversion of any of the Related Parties’ (defined as the Company and all such direct and indirect subsidiaries of the Company) funds, (B) embezzlement or (C) fraudulent
          or willful and material misrepresentations or concealments on any written reports submitted to any of the Related Parties;

       

      (iii)      the Employee’s failure to attempt in good faith to
          perform the Employee’s substantial job duties consistent with the Employee’s position, expressly including the provisions of this Agreement which failure continues after written notice, or material failure to follow or comply with the reasonable
          and lawful written directives of the Board that continues after written notice;

       

      
        
          

      

      (iv)        a material breach of Section 10 or 11 of this Agreement; or

       

      (v)         a material breach by the Employee of any written
          policy of the Related Parties concerning employee discrimination or harassment.

       

      The Employee shall be afforded a reasonable opportunity to cure any act or omission that would otherwise constitute “Cause” hereunder according to the following terms:
        The Board will cause the Employer to give the Employee written notice stating with reasonable specificity the nature of the circumstances determined by the Board in good faith to constitute “Cause.” If, in the good faith judgment of the Board, the
        alleged breach is reasonably susceptible to cure, the Employee will have fifteen (15) days from his receipt of such notice to effect the cure of such circumstances or such breach to the good faith satisfaction of the Board. The Board will state
        whether the Employee will have such an opportunity to cure in the initial notice of “Cause” referred to above. If, in the good faith judgment of the Board the alleged breach is not reasonably susceptible to cure, or such circumstances or breach
        have not been satisfactorily cured within such fifteen (15) day cure period, such breach will thereupon constitute “Cause” hereunder.

       

      (d)        WITHOUT CAUSE. Immediately upon written notice by the Employer to the Employee of an involuntary termination without Cause (other than for death or Disability).

       

      (e)        GOOD REASON. Upon written notice by the Employee to the Employer of a termination for Good Reason. “Good Reason”
          shall mean the occurrence of any of the following events, without the express written consent of the Employee of the occurrence of one of the reasons set forth below:

       

      (i)          a reduction in the Employee’s Base Salary or Target
          Bonus; provided that neither the Employee’s participation in the 2019 KEIP in lieu of eligibility for the Annual Bonus in 2019, nor any decrease in the Employee’s Target Bonus for 2020 as compared to the Employee’s annual target award under the
          KEIP, shall constitute Good Reason;

       

      (ii)         a relocation of the Employee’s primary place of
          employment to a location more than 20 miles from Midland, Texas; or

       

      (iii)        any material reduction in the Employee’s title,
          authority or responsibilities with the Employer.

       

      The Employer shall be afforded a reasonable opportunity to cure any circumstances that would otherwise constitute Good Reason hereunder according to the following
        terms: The Employee shall provide the Employer with a written notice detailing the specific circumstances alleged to constitute Good Reason within sixty (60) days of becoming aware of the occurrence of such circumstances. The Employer will have
        thirty (30) days from its receipt of such notice to effect the cure of such circumstances. If such circumstances have not been satisfactorily cured within such thirty (30) day cure period, and the Employee actually terminates employment within
        thirty (30) days following the expiration of the Employer’s thirty (30)-day cure period, such circumstances or breach will thereupon constitute Good Reason hereunder. Otherwise, any claim of such circumstances as Good Reason shall be deemed
        irrevocably waived by the Employee.

       

      
        
          

      

      (f)        WITHOUT GOOD REASON. Upon thirty (30) days’ prior written notice by the Employee to the Employer of the Employee’s
          voluntary termination of employment without Good Reason (which the Employer may, in its sole discretion, make effective earlier than any notice date).

       

      8.           CONSEQUENCES OF TERMINATION.

       

      (a)         DEATH. In the event that the Employee’s employment and the Employment Term ends on account of the Employee’s death, the Employee or the Employee’s
          estate, as the case may be, shall be entitled to the following (with the amounts due under Sections 8(a)(i) through 8(a)(v) hereof to be paid within thirty (30) days following termination of employment, or such earlier date as may be required by applicable law):

       

      (i)          any unpaid Base Salary
          through the date of termination;

       

      (ii)         any Annual Bonus
          earned but unpaid with respect to the fiscal year ending on or preceding the date of termination;

       

      (iii)        reimbursement for any
          unreimbursed business expenses incurred through the date of termination;

       

      (iv)        any accrued but unused
          vacation time in accordance with Company policy;

       

      (v)        all other payments, benefits or fringe benefits to which the Employee shall be entitled under the terms of any applicable compensation arrangement or benefit, equity or fringe benefit plan or program or grant or this Agreement
          (collectively, Sections 8(a)(i) through 8(a)(v) hereof shall be hereafter referred to as
          the “Accrued Benefits”); and

       

      (vi)       a pro rata portion of any Annual Bonus for the
          fiscal year in which the Termination Date occurs, paid in a lump sum at such time as bonuses for the annual period are paid to other executive officers of the Company in accordance with the terms of the applicable Employee Bonus Plan, and
          determined by multiplying the Employee’s actual Annual Bonus that would have been earned based on performance for such period by a fraction, the numerator of which is the number of days from the first day of the fiscal year of the Company in
          which such termination occurs through and including the Termination Date and the denominator of which is 365 (“Pro Rata Bonus”). For the avoidance of doubt, the Pro Rata
          Bonus shall not be paid if the Termination Date occurs in 2019, and instead the Employee’s bonus entitlement upon a termination of employment in 2019 shall be determined under the terms of the 2019 KEIP.

       

      (b)       DISABILITY. In the event that the Employee’s employment and/or Employment Term ends on account of the Employee’s Disability, the Employer shall pay or provide the Employee with the Accrued Benefits and, if the
          Termination Date occurs following 2019, a Pro Rata Bonus.

       

      (c)        TERMINATION FOR CAUSE OR WITHOUT GOOD REASON. If the Employee’s employment is terminated (x) by the Employer for Cause or (y) by the Employee without Good Reason the Employer
          shall pay to the Employee the Accrued Benefits other than the benefit described in Section 8(a)(ii) hereof.

       

      
        
          

      

      (d)         TERMINATION WITHOUT CAUSE OR FOR GOOD REASON. If the Employee’s employment by the Employer is terminated (x) by the Employer other than for Cause or (y) by the Employee for Good Reason, the Employer shall
          pay or provide the Employee with the following, subject to the provisions of Section 25 hereof:

       

      (i)          the Accrued Benefits;

       

      (ii)         if the Termination Date occurs following 2019, a
          Pro Rata Bonus;

       

      (iii)        subject to the Employee’s continued compliance
          with the obligations in Sections 9, 10 and 11 hereof, a sum equal to (x) the Employee’s monthly Base Salary rate at the highest rate in effect at any time during the thirty-six (36) month period prior to the Termination Date plus (y) 1/12 of the Target
          Bonus (provided that upon any termination in 2019, the Target Bonus for 2019 under Section 4, without giving any effect to any bonuses payable under the 2019 KEIP, shall be used for purposes of this calculation), paid monthly for a period of
          twenty-four (24) months following such termination; provided, that if such termination occurs within twenty-four (24) months following a Change of Control (as defined in the Company’s Legacy Reserves Inc. 2019 Management Incentive Plan), such
          24-month period shall be increased to 36 and the aggregate applicable amount shall be paid in a lump sum within sixty (60) days of the applicable Termination Date; provided,
            further, that to the extent that the payment of any amount constitutes “nonqualified deferred compensation” for purposes of Code Section 409A (as defined in Section 25 hereof), any such payment scheduled to occur during the first sixty (60) days following the termination of employment shall not be paid until the first regularly
            scheduled pay period following the sixtieth (60th) day following such Termination Date and shall include payment of any
            amount that was otherwise scheduled to be paid prior thereto; and

       

      (iv)       to the extent that the Employee elects COBRA continuation coverage, the Company will pay the full cost of the Employee’s COBRA continuation coverage for the maximum period as COBRA continuation coverage is required to be provided under
          applicable law; provided, however, that the benefits described in this Section 8(d)(iv) may be discontinued prior to the end of the period provided in this Section 8(d)(iv)
          to the extent, but only to the extent, that the Employee receives substantially similar benefits from a subsequent employer or to avoid the imposition of any excise taxes on the Employer or the Company for failure to comply with the
          nondiscrimination requirements of the Patient Protection and Affordable Care Act of 2010, as amended, and/or the Health Care and Education Reconciliation Act of 2010, as amended (to the extent applicable).

       

      Payments and benefits provided in this Section 8(d) shall be in lieu of any termination
        or severance payments or benefits for which the Employee may be eligible under any of the plans, policies or programs of the Company or under the Worker Adjustment Retraining Notification Act of 1988 or any similar state statute or regulation.

       

      
        
          

      

      (e)          CODE SECTION 280G.

       

      (i)         Notwithstanding anything in this Agreement to the
          contrary, in the event that any severance and other benefits provided to or for the benefit of the Employee or his legal representatives and dependents pursuant to this Agreement and any other agreement, benefit, plan, or policy of the Related
          Parties (this Agreement and such other agreements, benefits, plans, and policies collectively being referred to herein as the “Change of Control Arrangements”)
          constitute “parachute payments” within the meaning of Section 280G(b)(2) of the Code (such severance and other benefits being referred to herein as the “Change of Control Payments”)
          that would be subject to the excise tax imposed by Section 4999 of the Code (such excise tax referred to in this Agreement as the “Excise Tax”), then (i) if the
          shareholder approval exemption set forth in Section 280G(b)(5) is available, then the Employer and the Employee shall take all steps necessary, including, without limitation, waiver of rights by the Employee, to seek shareholder approval for such
          Change of Control Payments in accordance with Section 280G(b)(5) of the Code and the regulations promulgated thereunder; or (ii) if the shareholder approval exemption set forth in Section 280G(b)(5) is not available, then the Employer will
          provide the Employee with a computation of (A) the maximum amount of Change of Control Payments that could be made under the Change of Control Arrangements, without the imposition of the Excise Tax (said maximum amount being referred to as the “Capped Amount”); (B) the value of all Change of Control Payments that could be made pursuant to the terms of the Change of Control Arrangements (all said payments,
          distributions and benefits being referred to as the “Uncapped Payments”); (C) the dollar amount of Excise Tax which the Employee would become obligated to pay pursuant
          to Section 4999 of the Code as a result of receipt of the Uncapped Payments; and (D) the net value of the Uncapped Payments after reduction by (1) the amount of the Excise Tax, (2) the estimated income taxes payable by the Employee on the
          difference between the Uncapped Payments and the Capped Amount, assuming that the Employee is paying the highest marginal tax rate for state, local and federal income taxes, and (3) the estimated hospital insurance taxes payable by the Employee
          on the difference between the Uncapped Payments and the Capped Amount based on the hospital insurance tax rate under Section 3101(b) of the Code (the “Net Uncapped Amount”).
          If the Capped Amount is greater than the Net Uncapped Amount, the Employee shall be entitled to receive or commence to receive the Change of Control Payments equal to the Capped Amount; or if the Net Uncapped Amount is greater than the Capped
          Amount, the Employee shall be entitled to receive or commence to receive the Change of Control Payments equal to the Uncapped Payments. If the Employee receives the Uncapped Payments, then the Employee shall be solely responsible for the payment
          of the Excise Tax due from the Employee and attributable to such Uncapped Payments, with no right of additional payment from any of the Related Parties as reimbursement for such taxes.

       

      (ii)        Unless the Employer and the Employee otherwise
          agree in writing, any determination required under this Section 8(e) shall be made in writing by tax counsel or by an independent public accounting firm agreed to by
          the Employer and the Employee (the “Auditor”), whose determination shall be conclusive and binding upon the Employer and the Employee. For purposes of making the
          calculations required by this Section 8(e), the Auditor may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good
          faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Employer and the Employee shall furnish to the Auditor such information and documents as the Auditor may reasonably request in order to make a
          determination under this Section 8(e). The Employer shall bear all costs the Auditor may reasonably incur in connection with any calculations contemplated by this Section 8(e).

       

      
        
          

      

      (f)        OTHER OBLIGATIONS. Upon any termination of the Employee’s employment with the Company, the Employee shall automatically be deemed to have resigned from the Board and any other position as an officer,
          director or fiduciary of any Company related entity. The Employee will take any action reasonable requested by the Employer to document such resignation.

       

      (g)        EXCLUSIVE REMEDY. The amounts payable to the Employee following termination of employment and the Employment
            Term hereunder pursuant to Sections 7 and 8 hereof shall be in full and complete satisfaction of the Employee’s rights
            under this Agreement and any other claims that the Employee may have in respect of the Employee’s employment with the Company or any of its affiliates, and the Employee acknowledges that such amounts are fair and reasonable, and are the
            Employee’s sole and exclusive remedy, in lieu of all other remedies at law or in equity, with respect to the termination of the Employee’s employment hereunder or any breach of this Agreement.

       

      9.          RELEASE; NO MITIGATION; NO SET-OFF. Any
          and all amounts payable and benefits or additional rights provided pursuant to Section 8(d)(ii), 8(d)(iii)
          and 8(d)(iv) of this Agreement shall be payable only upon a termination of employment of the Employee, provided the Employee executes (and does not revoke) a release
          (the “Release”) in substantially the form attached on Exhibit B hereto. The Release must be
          signed by the Employee and returned to the Employer (and not revoked) within fifty-five (55) days following the Termination Date. If the Employee fails or otherwise refuses to execute a Release, the Employee will not be entitled to any benefits
          under Section 8(d)(ii), 8(d)(iii) and 8(d)(iv), and the Employer  will have no further obligations with respect to the provision of those benefits except as may be required by law. The Employer’s obligations to pay the Employee amounts hereunder shall not
          be subject to set-off, counterclaim or recoupment of amounts owed by the Employee to the Employer or the Company or any of their respective affiliates.

       

      10.        
        RESTRICTIVE COVENANTS.  For purposes of Sections 10, 11, 13
          and 19(a), the term “Company” shall refer to the Related Parties and/or each of their respective subsidiaries and affiliates, including any predecessors
          and/or successors of any of the foregoing, as the context so requires, each of whom shall be express third party beneficiaries of the rights of the “Company” under Sections
              10, 11, 13, and 19(a).

       

      
        
          

      

      (a)        CONFIDENTIALITY. The Employee hereby acknowledges that in connection with the Employee’s employment by the Company the Employee has been provided and will be provided Confidential Information (as defined
          below) (including, without limitation, procedures, memoranda, notes, records and customer and supplier lists whether such information has been or is made, developed or compiled by the Employee or otherwise has been or is made available to
          Employee), including information Employee has not received before, regarding the business and operations of the Related Parties. The Employee further acknowledges that such Confidential Information is unique, valuable, considered trade secrets
          and deemed proprietary by the Related Parties, and that the receipt of this Confidential information creates a special relationship of trust and confidence between the Company and the Employee. Employee thus acknowledges and agrees that it is
          fair and reasonable for the Company to take steps to protect itself. For purposes of this Agreement, “Confidential Information” includes, without limitation, any
          information heretofore or hereafter acquired, developed or used by any of the Related Parties relating to Business Opportunities or Intellectual Property or other geological, geophysical, economic, financial or management aspects of the business,
          operations, properties or prospects of the Related Parties, whether oral or in written form. The Employee agrees that all Confidential Information is and will remain the property of the Related Parties. The Employee further agrees, except for
          disclosures occurring in the good faith performance of Employee’s duties for the Related Parties, during the Employment Term and at all times thereafter, to hold in the strictest confidence all Confidential Information, and not to, directly or
          indirectly, duplicate, sell, use, lease, commercialize, disclose or otherwise divulge to any person or entity any portion of the Confidential Information or use any Confidential Information for Employee’s own benefit or profit or allow any
          person, entity or third party, other than the Related Parties and authorized executives of the same, to use or otherwise gain access to any Confidential Information. The Employee will have no obligation under this Agreement with respect to any
          information that becomes generally available to the public other than as a result of a disclosure by the Employee or Employee’s agent or other representative or becomes available to the Employee on a non-confidential basis from a source other
          than the Related Parties through no breach of any agreement with the Company or any of the Related Parties. Further, the Employee will have no obligation under this Agreement to keep confidential any of the Confidential Information to the extent
          that a disclosure of it is required by law or is consented to by the Company in writing; provided, however,
          that if and when such a disclosure is required by law, the Employee promptly will provide the Company with notice of such requirement, so that an appropriate protective order may be sought, and will cooperate with the Company in any attempt by
          Company to obtain any such appropriate protective order.

       

      (b)         RETURN OF PROPERTY. The Employee agrees that all Confidential Information, whether prepared by the Employee or otherwise coming into Employee’s possession, is and shall remain the exclusive property of the
          Company and/or Related Parties. Employee further agrees to deliver promptly to the Company, upon termination of Employee’s employment hereunder, or at any other time when the Company so requests, all documents relating to the business of the
          Related Parties, including without limitation: all geological and geophysical reports and related data such as maps, charts, logs, seismographs, seismic records and other reports and related data, calculations, summaries, memoranda and opinions
          relating to the foregoing, production records, electric logs, core data, pressure data, lease files, well files and records, land files, abstracts, title opinions, title or curative matters, contract files, notes, records, drawings, manuals,
          correspondence, financial and accounting information, customer lists, statistical data and compilations, patents, copyrights, trademarks, trade names, inventions, formulae, methods, processes, agreements, contracts, manuals or any documents
          relating to the business of the Related Parties and all copies thereof and therefrom; provided, however, that the Employee will be permitted to retain copies of any documents or materials solely of a personal nature or otherwise related to the
          Employee’s rights under this Agreement. Employee further agrees that, after Employee provides a copy of such information or documents to the Company, Employee will immediately delete any information or documents relating to the Company’s business
          from any computer, cellular phone or other digital or electronic device owned by Employee.

       

      (c)        NONCOMPETITION. In consideration of the payments, benefits and other obligations of the Company to the Employee
          pursuant to this Agreement, including, without limitation, the Company’s obligation to provide the Employee with Confidential Information pursuant to Section 10(a)
          hereof, and in order to protect such Confidential Information and preserve the goodwill of the Related Parties, the Employee hereby covenants and agrees to the following provisions.

       

      
        
          

      

      (i)        NON-COMPETE OBLIGATIONS DURING EMPLOYMENT TERM. The Employee agrees that during the Employment Term: (A) the Employee will not, other than through the Related Parties, unless approved in writing by a
          majority of the Board, engage or participate in any manner, whether directly or indirectly, through any family member or as an employee, employer, consultant, agent, principal, partner, more than one percent shareholder, officer, director,
          licensor, lender, lessor or in any other individual or representative capacity, in any business or activity which is engaged in leasing, acquiring, exploring, or producing, gathering or marketing hydrocarbons and related products (“Competing Business”), unless set forth on the approved activities list on Exhibit
              A; and (B) all investments made directly or indirectly by the Employee (whether in Employee’s own name or in the name of any family members or other nominees or made by the Employee’s controlled affiliates) in a Competing Business
          will be made solely through the Related Parties, unless approved in writing by a majority of the Board or unless such activity is set forth on Exhibit A; and the
          Employee will not directly or indirectly through any family members or other person or entity and will not permit any of Employee’s controlled affiliates to: (I) invest or otherwise participate alongside the Related Parties in any Business
          Opportunities relating to or arising from a Competing Business, or (II) invest or otherwise participate in any business or activity relating to or arising from a Competing Business, regardless of whether any of the Related Parties ultimately
          participates in such business or activity, in either case, except through the Related Parties, unless approved in writing by a majority of the Board or unless such activity is set forth on Exhibit A. Notwithstanding the foregoing, for purposes of Section 10(c), prohibitions on actions of a “family member” will not include (x)
          actions with respect to which the Employee has no reasonable expectation of a material benefit or (y) persons who are not in the Employee’s immediate family or with respect to whom the Employee exercises no reasonable control.

       

      (ii)      NON-COMPETE OBLIGATIONS AFTER TERMINATION DATE. The Employee agrees that the Employee will not in the Geographic Area engage or participate in any manner, whether directly or indirectly through any family
          member or other person or as an employee, employer, consultant, agent principal, partner, more than one percent shareholder, officer, director, licensor, lender, lessor or in any other individual or representative capacity, unless approved in
          writing by a majority of the Board or unless such activity is set forth on Exhibit A: During the one (1) year period following the Termination Date, in any business or
          activity that is a Competing Business; provided, that this subsection (ii) will not preclude the Employee from making investments in securities of oil and gas companies that are registered on a national stock exchange if the aggregate amount
          owned by the Employee and all family members and affiliates does not exceed 3% of such company’s outstanding securities. During the one (1) year-period following the Termination Date if Employee, in the future, seeks or is offered employment, or
          any other position or capacity with a Competing Business, Employee agrees to inform each new employer or entity, before accepting employment, of the existence of the restrictions in Section
              10. Further, before taking any employment position with any Competing Business during the one-year period following the Termination Date, Employee agrees to give prior written notice to the Company of the name of such Competing
          Business and Employee’s intent to take a position with such Competing Business. The Company shall be entitled to advise such Competing Business of the provisions of Section 10
          and to otherwise deal with such Competing Business to ensure that the provisions of Section 10 are enforced and duly discharged.

       

      
        
          

      

      (iii)       NOT APPLICABLE FOLLOWING CHANGE OF CONTROL TERMINATION. If Employee’s employment is terminated within twenty-four (24) months after a Change of Control by the Employee for Good Reason or by the Company
          without Cause, the Employee will not be subject to the covenants contained in this Section 10(c).

       

      (iv)      GEOGRAPHIC AREA. For purposes of this Agreement, the “Geographic Area” shall mean (i) any county or parish in which the Related
          Parties own any oil and gas interests or conducts operations on the Termination Date or in which the Related Parties have owned any oil and gas interests or conducted operations at any time during the six months immediately preceding the
          Termination Date; or (ii) any county or parish adjacent to any county or parish described in clause (i) of this Section 10(c)(iv).

       

      (d)      NONSOLICITATION; NONINTERFERENCE. During the Employment Term and for a period of twenty-four (24) months after the
          Termination Date, the Employee, directly or indirectly, will not, whether for Employee’s own account or for the account of any other person or entity:

       

      (i)         Other than for the
          benefit of and on behalf of the Related Parties during the Employment Term, solicit, attempt to transact business with, accept business from, transact business with, encourage or entice to end a relationship with any of the Related Parties,
          encourage or entice to lessen or alter a relationship with any of the Related Parties any client or customer of any of the Related Parties with whom Employee had any contact with (whether orally, in person or in any writing) during Employee’s
          employment with the Company or about whom or which the Employee learned of or obtained Confidential Information about during the Employee’s employment with the Company. The restrictions in this Section 10(d) concerning solicitations, attempting to transact business, transacting business, or accepting business applies only to solicitations for, or accepting business on behalf of, any Competing Business; and

       

      (ii)       solicit, hire, endeavor to entice away from the
          Related Parties, discuss or encourage leaving employment with the Related Parties or working for or providing services to any person or entity other than the Related Parties, or otherwise interfere with the relationship of the Related Parties
          with any person who is then employed by the Related Parties (including, without limitation, any independent contractors, engineers, geologists, sales representatives or organizations) or who had such a relationship with any of the Related Parties
          within the twelve (12) months preceding such solicitation, hiring, enticement, discussion, encouragement or interference.

       

      
        
          

      

      (e)          ASSIGNMENT OF DEVELOPMENTS.

       

      (i)        Employee hereby assigns to the Company any rights
          Employee may have or acquire in Business Opportunities (defined below) and Proprietary Information (defined below) and recognizes that all Proprietary Information shall be the sole property of the Company and its assigns and that the Company and
          its assigns shall be the sole owner of all trade secret rights, patent rights, copyrights, and all other rights throughout the world (collectively, “Proprietary Rights”)
          related thereto. “Proprietary Information” means trade secrets, confidential knowledge, data or any other proprietary information of the Company. By way of illustration
          but not limitation, Proprietary Information includes: (i) trade secrets, inventions, ideas, processes, formulas, source and object codes, data, programs, other works of authorship, knowhow, improvements, discoveries, developments, designs and
          techniques (hereinafter collectively referred to as “Inventions”); and (ii) tangible and intangible information relating to formulations, products, processes, know-how,
          designs, formulas, methods, developmental or experimental work, testing trials, improvements, discoveries, plans for research, new products, marketing and selling, business plans, budgets and unpublished financial statements, licenses, prices and
          costs, suppliers and customers, and information regarding the skills and compensation of other employees of the Company. Employee further hereby assigns to the Company all of Employee’s right, title and interest in and to any and all Inventions
          (and all Proprietary Rights with respect thereto) whether or not patentable or registrable under copyright or similar statutes, made or conceived or reduced to practice or learned by Employee, either alone or jointly with others, during the
          Employee’s employment with Company, prior to the Effective Date or in conjunction or at the request of any other person or entity and related in any manner to leasing, acquiring, exploring, or producing, gathering or marketing hydrocarbons and
          related products, or any other line of business in which the Company becomes involved during Employee’s employment with the Company (collectively, “Prior O&G Inventions”).
          Inventions and Prior O&G Inventions are hereinafter referred to as “Company Inventions.” Employee recognizes that this Agreement does not require assignment of any
          invention which Employee developed entirely on Employee’s own time without using the Company’s equipment, supplies, facilities or trade secret information, unless that invention (a) relates at the time of conception or reduction to practice of
          the invention to leasing, acquiring, exploring, or producing, gathering or marketing hydrocarbons and related products, or any other portion of the Company’s business or actual or demonstrably anticipated research or development of the Company;
          or (b) results from any services performed by Employee for the Company. Employee also assigns to, or as directed by, the Company all of Employee’s right, title and interest in and to any and all Inventions, full title to which is required to be
          in the United States by a contract between the Company and the United States or any of its agencies. Employee also acknowledges that all original works of authorship which are made by Employee (solely or jointly with others) within the scope of
          the services that Employee provides to the Company and which are protectable by copyright are “works made for hire,” as that term is defined in the United States Copyright Act (17 U.S.C., Section 101). Employee also agrees to promptly and fully
          disclose to Company any and all Company Inventions and to assign to the Company in the future when any such Company Inventions are first reduced to practice or first fixed in a tangible form all of Employee’s right, title and interest in and to
          any and all such Company Inventions. Employee further agrees to assist the Company in every proper way to obtain and from time to time enforce United States and foreign Proprietary Rights relating to Company Inventions in any and all countries.
          To that end, Employee will execute, verify and deliver such documents and perform such other acts (including appearances as a witness) as the Company may reasonably request for use in applying for, obtaining, perfecting, evidencing, sustaining
          and enforcing such Proprietary Rights and the assignment thereof. In addition, Employee will execute, verify and deliver assignments of such Proprietary Rights to the Company or its designee. In the event the Company is unable for any reason,
          after reasonable effort, to secure Employee’s signature on any document needed in connection with the actions specified in this Section 10(e), Employee hereby
          irrevocably designates and appoints the Company and its duly authorized officers and agents as Employee’s agent and attorney in fact, which appointment is coupled with an interest, to act for and in Employee’s behalf to execute, verify and file
          any such documents and to do all other lawfully permitted acts to further the purposes of this Section 10(e) with the same legal force and effect as if executed by
          Employee. Employee hereby waives and quitclaims to the Company any and all claims, of any nature whatsoever, which Employee now or may hereafter have for infringement of any Proprietary Rights assigned hereunder to the Company. Employee agrees to
          keep and maintain adequate and current records (in the form of notes, sketches, drawings and in any other form that may be required by the Company) of all Proprietary Information developed by Employee and all Inventions made by Employee during
          Employee’s employment with the Company, which records shall be available to and remain the sole property of the Company at all times. Except for the Prior O&G Inventions, those Inventions, if any, patented or unpatented, that Employee made
          prior to Employee’s employment with the Company are excluded from the scope of this Agreement. For purposes of this Agreement, “Business Opportunities” means all
          business ideas, prospects, proposals or other opportunities pertaining to the lease, acquisition, exploration, production, gathering or marketing of hydrocarbons and related products and the exploration potential of geographical areas on which
          hydrocarbon exploration prospects are located, which are wholly or partially developed by the Employee or by a Competing Business during the Employment Term or originated by any third party and brought to the attention of the Employee during the
          Employment Term, together with information relating thereto (including, without limitation, geological and seismic data and interpretations thereof, whether in the form of maps, charts, logs, seismographs, calculations, summaries, memoranda,
          opinions or other written or charted means). However, Business Opportunities do not include the activities listed on Exhibit A hereto as described by Employee to the
          Board on or before the Effective Date of this Agreement.

       

      
        
          

      

      (ii)        18 U.S.C. § 1833(b) provides: “An individual shall
          not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that—(A) is made—(i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to
          an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.” Nothing in this
          Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of trade secrets that are expressly allowed by 18 U.S.C. § 1833(b). Accordingly, the parties to this Agreement have the right to disclose in confidence
          trade secrets to federal, state, and local government officials, or to an attorney, for the sole purpose of reporting or investigating a suspected violation of law. The parties also have the right to disclose trade secrets in a document filed in
          a lawsuit or other proceeding, but only if the filing is made under seal and protected from public disclosure.

       

      (f)          MUTUAL NONDISPARAGEMENT. Employee agrees that the Company’s goodwill and reputation are assets of great value to the Company which were obtained through great cost, time and effort. Therefore, Employee
          agrees that during Employee’s employment with the Company and after the termination of Employee’s employment for any reason, Employee will not in any way disparage, libel or defame the Company or any of the Related Parties or any of their
          businesses or business practices, products or services, or employees, officers, directors or owners. The Company agrees to direct its executive officers and members of the Board, in each case, as of the date of termination, to not, while employed
          by the Company or serving as a director of the Company, as the case may be, make negative comments about the Employee or otherwise disparage the Employee in any manner that is likely to be harmful to the Employee’s business reputation. The
          foregoing shall not be violated by truthful statements in response to, or pursuant to, legal process, required governmental testimony or filings, or administrative or arbitral proceedings (including, without limitation, depositions in connection
          with such proceedings), and the foregoing limitation on the Company’s executives and directors shall not be violated by statements that they in good faith believe are necessary or appropriate to make in connection with performing their duties and
          obligations to the Company.

       

      
        
          

      

      (g)       REASONABLENESS OF COVENANTS. In signing this Agreement, the Employee gives the Company assurance that the Employee has carefully read and considered all of the terms and conditions of this Agreement,
          including the restraints imposed under this Section 10 hereof. The Employee agrees that these restraints are necessary for the reasonable and proper protection of the
          Company and its affiliates and their Confidential Information and that each and every one of the restraints is reasonable in respect to subject matter, length of time and geographic area, and that these restraints, individually or in the
          aggregate, will not prevent the Employee from obtaining other suitable employment during the period in which the Employee is bound by the restraints. The Employee acknowledges
          that each of these covenants has a unique, very substantial and immeasurable value to the Company and its affiliates and that the Employee has sufficient assets and skills to provide a livelihood while such covenants remain in force. The Employee
          further covenants that the Employee will not challenge the reasonableness or enforceability of any of the covenants set forth in this Section 10, and that the Employee
          will reimburse the Company and its affiliates for all costs (including reasonable attorneys’ fees) incurred in connection with any action to enforce any of the provisions of this Section
              10 if the Employee challenges the reasonableness or enforceability of the provisions of this Section 10.  It is also agreed that each of the Company’s
          affiliates will have the right to enforce all of the Employee’s obligations to that affiliate under this Agreement, including without limitation pursuant to this Section 10.

       

      (h)        REFORMATION. If it is determined by a court of competent jurisdiction in any state that any restriction in this Section 10 is
          excessive in duration or scope or is unreasonable or unenforceable under applicable law, it is the intention of the parties that such restriction may be modified or amended by the court to render it enforceable to the maximum extent permitted by
          the laws of that state.

       

      (i)          TOLLING. In the event of any violation of the provisions of this Section 10, the Employee acknowledges and agrees that the
          post-termination restrictions contained in this Section 10 shall be extended by a period of time equal to the period of such violation, it being the intention of the
          parties hereto that the running of the applicable post-termination restriction period shall be tolled during any period of such violation.

       

      (j)        SURVIVAL OF PROVISIONS. The obligations contained in Sections 10 and 11 hereof shall survive the termination or expiration of the Employment Term and the Employee’s employment with the Company and shall be fully enforceable thereafter.

       

      
        
          

      

      11.       COOPERATION. Upon the receipt of reasonable notice from the Company (including outside counsel), the Employee agrees that while employed by the Company and thereafter, the Employee
          will respond and provide information with regard to matters in which the Employee has knowledge as a result of the Employee’s employment with the Company, and will provide reasonable assistance to the Company, its affiliates and their respective
          representatives in defense of any claims that may be made against the Company or its affiliates, and will assist the Company and its affiliates in the prosecution of any claims that may be made by the Company or its affiliates, to the extent that
          such claims may relate to the period of the Employee’s employment with the Company (collectively, the “Claims”). The Employee agrees to promptly inform the Company if
          the Employee becomes aware of any lawsuits involving Claims that may be filed or threatened against the Company or its affiliates. The Employee also agrees to promptly inform the Company (to the extent that the Employee is legally permitted to do
          so) if the Employee is asked to assist in any investigation of the Company or its affiliates (or their actions) or another party attempts to obtain information or documents from the Employee (other than in connection with any litigation or other
          proceeding in which the Employee is a party-in-opposition) with respect to matters the Employee believes in good faith to relate to any investigation of the Company or its affiliates, in each case, regardless of whether a lawsuit or other
          proceeding has then been filed against the Company or its affiliates with respect to such investigation, and shall not do so unless legally required. During the pendency of any litigation or other proceeding involving Claims, the Employee shall
          not communicate with anyone (other than the Employee’s attorneys and tax and/or financial advisors and except to the extent that the Employee determines in good faith is necessary in connection with the performance of the Employee’s duties
          hereunder) with respect to the facts or subject matter of any pending or potential litigation or regulatory or administrative proceeding involving the Company or any of its affiliates without giving prior written notice to the Company  or the
          Company’s counsel. Upon presentation of appropriate documentation, the Company shall pay or reimburse the Employee for all reasonable out-of-pocket travel, duplicating or telephonic expenses incurred by the Employee in complying with this Section 11.

       

      12.       WHISTLEBLOWER PROTECTION. Notwithstanding anything to the contrary contained herein, no provision of this Agreement shall
          be interpreted so as to impede the Employee (or any other individual) from reporting possible violations of federal law or regulation to any governmental agency or entity, including but not limited to the Department of Justice, the Securities and
          Exchange Commission, the Congress, and any agency Inspector General, or making other disclosures under the whistleblower provisions of federal law or regulation. The Employee does not need the prior authorization of the Company to make any such
          reports or disclosures and the Employee shall not be not required to notify the Company that such reports or disclosures have been made.

       

      13.        EQUITABLE RELIEF AND OTHER REMEDIES. The Employee acknowledges and agrees that the Company’s remedies at law for a breach or threatened breach of any of the provisions of Section 10 or Section 11 hereof would be inadequate and, in recognition of this fact, the
          Employee agrees that, in the event of such a breach or threatened breach, in addition to any remedies at law, the Company, without posting any bond or other security, shall be entitled to obtain equitable relief in the form of specific
          performance, a temporary restraining order, a temporary or permanent injunction or any other equitable remedy which may then be available, without the necessity of showing actual monetary damages. In the event of a
          violation by the Employee of Section 10 or Section 11 hereof, any severance being paid to the Employee pursuant to this Agreement or otherwise shall immediately cease, and any severance previously paid to the Employee shall be immediately repaid to the Employer.

       

      14.        NO ASSIGNMENTS. This Agreement is personal to each of the parties hereto. Except as provided in this Section 14
          hereof, no party may assign or delegate any rights or obligations hereunder without first obtaining the written consent of the other party hereto. The Employer may assign this Agreement to any successor to all or
          substantially all of the business and/or assets of the Employer, provided that the Employer shall require such successor to expressly assume and agree to perform this
          Agreement in the same manner and to the same extent that the Employer would be required to perform it if no such succession had taken place. As used in this Agreement, “Employer”
          shall mean the Employer and any successor to its business and/or assets, which assumes and agrees to perform the duties and obligations of the Employer under this Agreement by operation of law or otherwise.

       

      
        
          

      

      15.         NOTICE. For purposes of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given (a) on the
          date of delivery, if delivered by hand, (b) on the date of transmission, if delivered by confirmed facsimile or electronic mail, (c) on the first business day following the date of deposit, if delivered by guaranteed overnight delivery service,
          or (d) on the fourth business day following the date delivered or mailed by United States registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

       

      	
              If to the Employee, to the address (or to the facsimile 

              number) shown in the books and records of the

               Employer.

            
	 
	
              If to the Employer:

            
	 
	
              Legacy Reserves Services LLC

            
	
              303 W. Wall Street, Suite 1800

            
	
              Midland, TX  79701

            
	
              Attention: General Counsel

            
	 
	
              If to the Company:

            
	 
	
              Legacy Reserves Inc.

            
	
              303 W. Wall Street, Suite 1800

            
	
              Midland, TX  79701

            
	
              Attention: General Counsel

            

       

      or to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective
        only upon receipt.

       

      16.        SECTION HEADINGS; INCONSISTENCY. The section headings used in this Agreement are included solely for convenience and shall not affect, or be used in connection with, the interpretation
          of this Agreement. In the event of any inconsistency between the terms of this Agreement and any form, award, plan or policy of the Employer or the Company, the terms of this Agreement shall govern and control.

       

      17.       SEVERABILITY. The provisions of this Agreement shall be deemed severable. The invalidity or unenforceability of any provision of this Agreement in any
          jurisdiction shall not affect the validity, legality or enforceability of the remainder of this Agreement in such jurisdiction or the validity, legality or enforceability of any provision of this Agreement in any other jurisdiction, it being
          intended that all rights and obligations of the parties hereunder shall be enforceable to the fullest extent permitted by applicable law.

       

      
        
          

      

      18.         COUNTERPARTS. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same
          instrument.

       

      19.         CONSENT TO JURISDICTION AND SERVICE OF PROCESS.

       

      (a)         Section 10 Disputes. In the event of any dispute, controversy or claim between the Company and the Employee arising out of or relating to the interpretation, application or enforcement of the provisions of
          Section 10, the Company and the Employee agree and consent to the personal jurisdiction of the state and local courts of Midland County, Texas and/or the United States
          District Court for the Western District of Texas for resolution of the dispute, controversy or claim, and that those courts, and only those courts, will have jurisdiction to determine any dispute, controversy or claim related to, arising under or
          in connection with Section 10 of this Agreement. The Company and the Employee also agree that those courts are convenient forums for the parties to any such dispute,
          controversy or claim and for any potential witnesses and that process issued out of any such court or in accordance with the rules of practice of that court may be served by mail or other forms of substituted service to the Company at the address
          of its principal executive offices and to the Employee at his last known address as reflected in the Company’s records.

       

      (b)         Disputes Other Than Under Section 10. In the event of any dispute relating to this Agreement, other than a dispute relating solely to Section
              10, the parties will use their best efforts to settle the dispute, claim, question, or disagreement. To this effect, they will consult and negotiate with each other in good faith and, recognizing their mutual interests, attempt to
          reach a just and equitable solution satisfactory to both parties. If such a dispute cannot be settled through negotiation, the parties agree first to try in good faith to settle the dispute by mediation administered by the American Arbitration
          Association under its Commercial Mediation Rules before resorting to arbitration, litigation, or some other dispute resolution procedure. If the parties do not reach such solution through negotiation or mediation within a period of sixty (60)
          days, then, upon notice by either party to the other, all disputes, claims, questions, or differences will be finally settled by arbitration administered by the American Arbitration Association in accordance with the provisions of its Commercial
          Arbitration Rules. The arbitrator will be selected by agreement of the parties or, if they do not agree on an arbitrator within thirty (30) days after either party has notified the other of his or its desire to have the question settled by
          arbitration, then the arbitrator will be selected pursuant to the procedures of the American Arbitration Association (the “AAA”) in Midland, Texas. The determination
          reached in such arbitration will be final and binding on all parties. Enforcement of the determination by such arbitrator may be sought in any court of competent jurisdiction. Unless otherwise agreed by the parties, any such arbitration will take
          place in Midland, Texas, and will be conducted in accordance with the Commercial Arbitration Rules of the AAA.

       

      20.         INDEMNIFICATION. The Employer hereby agrees to indemnify the Employee and hold the Employee harmless to the extent provided under the By-Laws of the Employer
          against and in respect of any and all actions, suits, proceedings, claims, demands, judgments, costs, expenses (including reasonable attorney’s fees), losses, and damages resulting from the Employee’s good faith performance of the Employee’s
          duties and obligations with the Employer. This obligation shall survive the termination of the Employee’s employment with the Employer.

       

      
        
          

      

      21.        LIABILITY INSURANCE. The Employer shall cover the Employee under directors’ and officers’ liability insurance both during and, while potential liability exists, after the term of this
          Agreement in the same amount and to the same extent as the Employer covers its other officers and directors.

       

      22.       GOVERNING LAW. This Agreement, the rights and obligations of the parties hereto, and any claims or disputes relating thereto, shall be governed by and construed
          in accordance with the laws of the State of Texas (without regard to its choice of law provisions).

       

      23.         MISCELLANEOUS. No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and
          signed by the Employee and such officer or director as may be designated by the Board. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be
          performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. This Agreement together with all exhibits hereto sets forth the entire agreement of the
          parties hereto in respect of the subject matter contained herein and supersedes any and all prior agreements or understandings between the Employee and the Employer with respect to the subject matter hereof (including, without limitation, the
          Prior Employment Agreement). No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party which are not expressly set forth in this Agreement.

       

      24.       REPRESENTATIONS. The Employee represents and warrants to the Employer that (a) the Employee has the legal right to enter into this Agreement and to perform all of the obligations on
          the Employee’s part to be performed hereunder in accordance with its terms, and (b) the Employee is not a party to any agreement or understanding, written or oral, and is not subject to any restriction, which, in either case, could prevent the
          Employee from entering into this Agreement or performing all of the Employee’s duties and obligations hereunder.

       

      25.         TAX MATTERS.

       

      (a)         WITHHOLDING. The Employer may withhold from any and all amounts payable under this Agreement or otherwise such federal, state and local taxes as may be required to be withheld pursuant to any applicable
          law or regulation.

       

      (b)          SECTION 409A COMPLIANCE.

       

      (i)          The intent of the
          parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and the regulations and guidance promulgated thereunder (collectively “Code
              Section 409A”) and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to be in compliance therewith. If the Employee notifies the Employer (with specificity as to the reason therefor) that the
          Employee believes that any provision of this Agreement (or of any award of compensation, including equity compensation or benefits) would cause the Employee to incur any additional tax or interest under Code Section 409A and the Employer concurs
          with such belief or the Employer (without any obligation whatsoever to do so) independently makes such determination, the Employer shall, after consulting with the Employee, reform such provision to attempt to comply with Code Section 409A
          through good faith modifications to the minimum extent reasonably appropriate to conform with Code Section 409A. To the extent that any provision hereof is modified in order to comply with Code Section 409A, such modification shall be made in
          good faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to the Employee and the Employer of the applicable provision without violating the provisions of Code Section 409A. In no event
          whatsoever shall the Employer be liable for any additional tax, interest or penalty that may be imposed on the Employee by Code Section 409A or damages for failing to comply with Code Section 409A.

       

      
        
          

      

      (ii)        A termination of employment shall not be deemed to
          have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service” within the meaning of
          Code Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” Notwithstanding anything to the contrary in this
          Agreement, if the Employee is deemed on the date of termination to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered
          deferred compensation under Code Section 409A payable on account of a “separation from service,” such payment or benefit shall not be made or provided until the date which is the earlier of (A) the expiration of the six (6)-month period measured
          from the date of such “separation from service” of the Employee, and (B) the date of the Employee’s death, to the extent required under Code Section 409A. Upon the expiration of the foregoing delay period, all payments and benefits delayed
          pursuant to this Section 25(b)(ii) (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or
          reimbursed to the Employee in a lump sum with interest at the prime rate as published in The Wall Street Journal on the first business day following the date of the
          “separation from service”, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment
          dates specified for them herein.

       

      (iii)       To the extent that reimbursements or other in-kind
          benefits under this Agreement constitute “nonqualified deferred compensation” for purposes of Code Section 409A, (A) all expenses or other reimbursements hereunder shall be made on or prior to the last day of the taxable year following the
          taxable year in which such expenses were incurred by the Employee, (B) any right to reimbursement or in-kind benefits shall not be
            subject to liquidation or exchange for another benefit, and (C) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any taxable year shall in any way affect the expenses eligible for
          reimbursement, or in-kind benefits to be provided, in any other taxable year.

       

      (iv)      For purposes of Code Section 409A, the Employee’s
          right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number
          of days, the actual date of payment within the specified period shall be within the sole discretion of the Employer.

       

      
        
          

      

      (v)       Notwithstanding any other provision of this Agreement
          to the contrary, in no event shall any payment under this Agreement that constitutes “nonqualified deferred compensation” for purposes of Code Section 409A be subject to offset by any other amount unless otherwise permitted by Code Section 409A.

      

      

      [Remainder of Page Intentionally Left Blank]

       

      

      
        
          

      

      IN WITNESS WHEREOF, the parties hereto have executed this
        Agreement as of the date first written above.

      

      

      	 	
              EMPLOYER

            
	 	 	 	 
	 	By: 

            	
              /s/ Albert E. Ferrara, III

            	 
	 	
              Name:  Albert E. Ferrara, III

            	 
	 	
              Title: General Counsel and Corporate Secretary

            	 
	 	 	 	 
	 	
              EMPLOYEE

            
	 	 	 	 
	 	By: 

            	
              /s/ James Daniel Westcott

            	 
	 	
              Name: James Daniel Westcott

            	 
	 	 	 	 
	 	
              COMPANY

            	 
	 	 	 	 
	 	By: 

            	
               /s/ Albert E. Ferrara, III

            	 
	 	
              Name:  Albert E. Ferrara, III

            	 
	 	
              Title: General Counsel and Corporate Secretary

            	 

      

      

      Signature Page to Second Amended and Restated Employment Agreement

      

      

      
        
          

      

      EXHIBIT A

       

      APPROVED OUTSIDE ACTIVITIES AS OF THE EFFECTIVE DATE

       

      None.

       

      Exhibit A to Second Amended and Restated Employment Agreement

       

      

      
        
          

      

      EXHIBIT B

       

      GENERAL RELEASE

      

      

      I,_________________, in consideration of and subject to the
          performance by the Employer (together with its subsidiaries, the “Employer”), of its obligations under the Second Amended and Restated Employment Agreement dated as of
          December 11, 2019 (the “Agreement”), which are further described on Schedule A attached hereto, do hereby release and forever discharge as of the date hereof the
          Employer and the Company and their respective affiliates and all present, former and future managers, directors, officers, employees, successors and assigns of the Employer and the Company and their affiliates and direct or indirect owners
          (collectively, the “Released Parties”) to the extent provided below (this “General Release”).
          The Released Parties are intended to be third-party beneficiaries of this General Release, and this General Release may be enforced by each of them in accordance with the terms hereof in respect of the rights granted to such Released Parties
          hereunder. Terms used herein but not otherwise defined shall have the meanings given to them in the Agreement.

       

      1.         My employment or service with the Employer and its
          affiliates terminated as of________________, and I hereby resign from any position as an officer, member of the board of managers or directors (as applicable) or fiduciary of
          the Employer or the Company or their affiliates (or reaffirm any such resignation that may have already occurred). I understand that any payments or benefits paid or granted to me under Section 8 of the Agreement represent, in part, consideration for signing this General Release and are not salary, wages or benefits to which I was already entitled. I understand and agree that I will not receive certain
          of the payments and benefits specified in Section 8 of the Agreement unless I execute this General Release and do not revoke this General Release within the time period
          permitted hereafter. I understand and agree that such payments and benefits are subject to Sections 10 and 11 of the Agreement, which (as noted below) expressly survive my termination of employment and the execution of this General Release. Such payments and benefits will not be considered compensation for purposes of any
          employee benefit plan, program, policy or arrangement maintained or hereafter established by the Employer or the Company or their affiliates.

       

      2.          Except as provided in
          paragraphs 4 and 5 below and except for the provisions of the Agreement which expressly survive the termination of my employment with the Employer, I knowingly and voluntarily (for myself, my heirs, executors, administrators and assigns) release
          and forever discharge the Company and the other Released Parties from any and all claims, suits, controversies, actions, causes of action, cross-claims, counter‐claims, demands, debts, compensatory damages, liquidated damages, punitive or
          exemplary damages, other damages, claims for costs and attorneys’ fees, or liabilities of any nature whatsoever in law and in equity, both past and present (through the date that this General Release becomes effective and enforceable) and whether
          known or unknown, suspected, or claimed against the Employer, the Company or any of the Released Parties which I, my spouse, or any of my heirs, executors, administrators or assigns, may have, which arise out of or are connected with any event
          occurring by the date hereof, including claims connected with my employment with, or my separation or termination from, the Employer (including, but not limited to, any allegation, claim or violation, arising under: Title VII of the Civil Rights
          Act of 1964, as amended; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967, as amended (including the Older Workers Benefit Protection Act); the Equal Pay Act of 1963, as amended; the Americans with Disabilities Act
          of 1990; the Family and Medical Leave Act of 1993; the Worker Adjustment Retraining and Notification Act; the Employee Retirement Income Security Act of 1974; any applicable Executive Order Programs; the Fair Labor Standards Act; or their state
          or local counterparts; or under any other federal, state or local civil or human rights law, or under any other local, state, or federal law, regulation or ordinance; or under any public policy, contract or tort, or under common law; or arising
          under any policies, practices or procedures of the Company; or any claim for wrongful discharge, breach of contract, infliction of emotional distress, defamation; or any claim for costs, fees, or other expenses, including attorneys’ fees incurred
          in these matters) (all of the foregoing collectively referred to herein as the “Claims”).

       

      Exhibit B to Second Amended and Restated Employment Agreement

       

      

      
        
          

      

      3.          I represent that I have made no assignment or
          transfer of any right, claim, demand, cause of action, or other matter covered by paragraph 2 above.

       

      4.           I agree that this
          General Release does not waive or release any rights or claims that I may have under the Age Discrimination in Employment Act of 1967 which arise after the date I execute this General Release. I acknowledge and agree that my separation from
          employment with the Company in compliance with the terms of the Agreement shall not serve as the basis for any claim or action (including, without limitation, any claim under the Age Discrimination in Employment Act of 1967).

       

      5.          I agree that I hereby
          waive all rights to sue or obtain equitable, remedial or punitive relief from any or all Released Parties of any kind whatsoever in respect of any Claim, including, without limitation, reinstatement, back pay, front pay, and any form of
          injunctive relief. Notwithstanding the above, I further acknowledge that I am not waiving and am not being required to waive any right that cannot be waived under law, including the right to file an administrative charge or participate in an
          administrative investigation or proceeding; provided, however, that I disclaim and waive
          any right to share or participate in any monetary award resulting from the prosecution of such charge or investigation or proceeding. Additionally, I am not waiving (i) any right to the Accrued Benefits or any severance benefits to which I am
          entitled under the Agreement, (ii) any claim relating to directors’ and officers’ liability insurance coverage or any right of indemnification under the Company’s organizational documents or otherwise, or (iii) my rights
          as an equity or security holder in the Employer or the Company or their affiliates.

       

      6.          In signing this General Release, I acknowledge and
          intend that it shall be effective as a bar to each and every one of the Claims hereinabove mentioned or implied. I expressly consent that this General Release shall be given full force and effect according to each and all of its express terms and
          provisions, including those relating to unknown and unsuspected Claims (notwithstanding any state or local statute that expressly limits the effectiveness of a general release of unknown, unsuspected and unanticipated Claims), if any, as well as
          those relating to any other Claims hereinabove mentioned or implied. I acknowledge and agree that this waiver is an essential and material term of this General Release and that without such waiver the Company would not have agreed to the terms of
          the Agreement. I further agree that in the event I should bring a Claim seeking damages against the Company, or in the event I should seek to recover against the Employer or the Company in any Claim brought by a governmental agency on my behalf,
          this General Release shall serve as a complete defense to such Claims to the maximum extent permitted by law. I further agree that I am not aware of any pending claim of the type described in paragraph 2 above as of the execution of this General
          Release.

       

      Exhibit B to Second Amended and Restated Employment Agreement

       

      

      
        
          

      

      7.          I agree that neither this General Release, nor the
          furnishing of the consideration for this General Release, shall be deemed or construed at any time to be an admission by the Employer, the Company, any Released Party or myself of any improper or unlawful conduct.

       

      8.           I agree that if I violate this General Release by
          suing the Employer, the Company or the other Released Parties, I will pay all costs and expenses of defending against the suit incurred by the Released Parties, including reasonable attorneys’ fees.

       

      9.          I agree that this General Release and the Agreement
          are confidential and agree not to disclose any information regarding the terms of this General Release or the Agreement, except to my immediate family and any tax, legal or other counsel I have consulted regarding the meaning or effect hereof or
          as required by law, and I will instruct each of the foregoing not to disclose the same to anyone.

       

      10.         Any non‐disclosure provision in this General
          Release does not prohibit or restrict me (or my attorney) from responding to any inquiry about this General Release or its underlying facts and circumstances by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory
          Authority (FINRA), any other self‐regulatory organization or any governmental entity.

       

      11.          I hereby acknowledge that Sections 8 through 15, 20 through 23 and 25
          of the Agreement shall survive my execution of this General Release.

       

      12.        I represent that I am not aware of any claim by me
          other than the claims that are released by this General Release. I acknowledge that I may hereafter discover claims or facts in addition to or different than those which I now know or believe to exist with respect to the subject matter of the
          release set forth in paragraph 2 above and which, if known or suspected at the time of entering into this General Release, may have materially affected this General Release and my decision to enter into it.

       

      13.        Notwithstanding anything in this General Release to
          the contrary, this General Release shall not relinquish, diminish, or in any way affect any rights or claims arising out of any breach by the Company or by any Released Party of the Agreement after the date hereof.

       

      14.         Whenever possible, each provision of this General
          Release shall be interpreted in, such manner as to be effective and valid under applicable law, but if any provision of this General Release is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any
          jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision or any other jurisdiction, but this General Release shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or
          unenforceable provision had never been contained herein.

       

      BY SIGNING THIS GENERAL RELEASE, I REPRESENT AND AGREE THAT:

       

      Exhibit B to Second Amended and Restated Employment Agreement

      

      

      
        
          

      

      
        
          	

                	1.	
                  I HAVE READ IT CAREFULLY;

                

        

      

       

      
        
          	

                	2.	
                  I UNDERSTAND ALL OF ITS TERMS AND KNOW THAT I AM GIVING UP IMPORTANT RIGHTS, INCLUDING BUT NOT LIMITED TO, RIGHTS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OF 1967, AS
                    AMENDED, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED; THE EQUAL PAY ACT OF 1963, THE AMERICANS WITH DISABILITIES ACT OF 1990; AND THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED;

                

        

      

       

      
        
          	

                	3.	
                  I VOLUNTARILY CONSENT TO EVERYTHING IN IT;

                

        

      

       

      
        
          	

                	4.	
                  I HAVE BEEN ADVISED TO CONSULT WITH AN ATTORNEY BEFORE EXECUTING IT AND I HAVE DONE SO OR, AFTER CAREFUL READING AND CONSIDERATION, I HAVE CHOSEN NOT TO DO SO OF MY OWN
                    VOLITION;

                

        

      

       

      
        
          	

                	5.	
                  I HAVE HAD AT LEAST [21][45] DAYS FROM THE DATE OF MY RECEIPT OF THIS RELEASE TO
                    CONSIDER IT, AND THE CHANGES MADE SINCE MY RECEIPT OF THIS RELEASE ARE NOT MATERIAL OR WERE MADE AT MY REQUEST AND WILL NOT RESTART THE REQUIRED [21][45]‐DAY
                    PERIOD;

                

        

      

       

      
        
          	

                	6.	
                  I UNDERSTAND THAT I HAVE SEVEN (7) DAYS AFTER THE EXECUTION OF THIS RELEASE TO REVOKE IT AND THAT THIS RELEASE SHALL NOT BECOME EFFECTIVE OR ENFORCEABLE UNTIL THE REVOCATION
                    PERIOD HAS EXPIRED;

                

        

      

       

      
        
          	

                	7.	
                  I HAVE SIGNED THIS GENERAL RELEASE KNOWINGLY AND VOLUNTARILY AND WITH THE ADVICE OF ANY COUNSEL RETAINED TO ADVISE ME WITH RESPECT TO IT; AND

                

        

      

       

      
        
          	

                	8.	
                  I AGREE THAT THE PROVISIONS OF THIS GENERAL RELEASE MAY NOT BE AMENDED, WAIVED, CHANGED OR MODIFIED EXCEPT BY AN INSTRUMENT IN WRITING SIGNED BY AN AUTHORIZED REPRESENTATIVE OF
                    THE COMPANY AND BY ME.

                

        

      

       

      	
              SIGNED:

            	 	 	
              DATED:

            	 

      

      

      Exhibit B to Second Amended and Restated Employment Agreement

      

      

      
        
          

      

      Schedule A

       

      Benefits

       

      The Employer shall provide me with the following, subject to the terms and conditions set forth in the Second Amended and Restated Employment Agreement and the General
        Release (including, without limitation, my continued compliance with Sections 9, 10, and 11 of the Second Amended and Restated Employment Agreement):

       

      1.          The
          Accrued Benefits (as defined in the Second Amended and Restated Employment Agreement), payable within thirty (30) days following the Date of Termination.

       

      2.           [a Pro Rata Bonus]1

       

      3.         subject to my continued compliance with the
          obligations in Sections 9, 10 and 11 of the Second Amended and Restated Employment Agreement, an amount equal to my monthly Base Salary rate at the highest rate in effect at any time during the thirty-six (36) month period prior to my Termination Date (as
          defined in the Second Amended and Restated Employment Agreement) plus 1/12 my Target Bonus, paid monthly for a period of twenty-four (24) months following such termination; provided that to the extent that the payment of any amount constitutes
          “nonqualified deferred compensation” for purposes of Code Section 409A (as defined in Section 25 of the Second Amended and Restated Employment Agreement), any such
          payment scheduled to occur during the first sixty (60) days following the termination of employment shall not be paid until the first regularly scheduled pay period following the sixtieth (60th) day following such termination and shall include
          payment of any amount that was otherwise scheduled to be paid prior thereto;

       

      4.          to the extent that I elect COBRA continuation
          coverage, the Company will pay the full cost of my COBRA continuation coverage for the maximum period as COBRA continuation coverage is required to be provided under applicable law; provided, however, that the benefits described in Section 8(d)(iv) of the Second Amended and Restated Employment Agreement may be discontinued prior to the end of the period provided in Section 8(d)(iv) of the Second Amended and Restated Employment Agreement to the extent, but only to the extent, that I receive substantially similar benefits from a subsequent employer or in the
          event such continuation coverage causes the Employer or the Company to incur any excise taxes (as further described in the Second Amended and Restated Employment Agreement).

       

      
        

      1 If Termination Date occurs after 2019.

       

      Schedule A to General Release

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