Document:

Description of the Fiscal Year 2006 Executive Bonus Plan

 Exhibit 10.27 
  
 Description of the Fiscal Year 2006 Executive Bonus Plan 
  
 Eligibility. Participants in the Bonus Plan are chosen solely at the discretion of the Compensation Committee. Our Chairman,
Chief Executive Officer, our Presidents, all of our Executive Vice Presidents and certain of our Senior Vice Presidents are eligible to be considered for participation in the Bonus Plan. As of August 24, 2005, there were twelve persons chosen
to participate for fiscal year 2006. No person is automatically entitled to participate in the Bonus Plan in any Bonus Plan year. Oracle may also pay discretionary bonuses, or other types of compensation, outside the Bonus Plan which may or may not
be deductible. However, no employee has a guaranteed right to such discretionary compensation as a substitute for a performance award in the event that performance targets are not met or that stockholders fail to approve the material terms
of the Bonus Plan. 
  
 History. The Compensation Committee approved
the adoption of the Bonus Plan, which is part of the overall compensation program for our executives, at a meeting held on August 24, 2005. 
  
 Purpose. The purpose of the Bonus Plan is to motivate the participants to achieve our financial performance objectives and to reward them when those
objectives are met with bonuses that are intended to be deductible to the maximum extent possible as “performance-based compensation” within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended (the
“Code”). 
  
 Administration. The Bonus Plan will be
administered by the Compensation Committee, consisting of no fewer than two members of the Board, each of whom qualifies as an “outside director” within the meaning of Section 162(m) of the Code. 
  
 Determination of Awards. Under the Bonus Plan, participants will be eligible to
receive awards based upon the attainment, in fiscal year 2006, and certification of certain performance criteria established by the Compensation Committee. For fiscal year 2006: 
  

	 	(a)	Mr. Ellison, our Chief Executive Officer; Mr. Henley, our Chairman of the Board; Ms. Catz, a President; Mr. Phillips, a President; and Mr. Maffei, a
President and Chief Financial Officer, will each receive an award based on Oracle’s improvement in its pre-tax profit on a non-GAAP basis from fiscal year 2005 to fiscal year 2006; 

  

	 	(b)	each Executive Vice President and one Senior Vice President directly responsible for sales and consulting (collectively, the “Sales and Consulting Participants”) will each
receive an award based upon improvement in license and outsourcing revenue growth in their respective areas of responsibility from fiscal year 2005 to fiscal year 2006 and upon reaching and exceeding targets with respect to licensing, outsourcing
and consulting margins in their respective areas of responsibility for fiscal year 2006; and 

  

	 	(c)	the Executive Vice Presidents and one Senior Vice President not directly responsible for sales or consulting will each receive an award based on improvement in profit in their
respective areas of responsibility from fiscal year 2005 to fiscal year 2006. 

  
 The Compensation Committee adopted the performance criteria on August 24, 2005, within 90 days after the start of fiscal year 2005. Each Sales and Consulting Participant’s total bonus under the Bonus Plan is
calculated by summing the applicable bonus for each target. For all participants, the applicable bonus for their target or targets is related to the amount by which each target is exceeded or missed. If the target bonus calculation results in a
negative number, the bonus for such target is zero. The details of each of the formulas with respect to the criteria have not been included in this proxy statement in order to maintain the confidentiality of our revenue, profit and margin
expectations, which we believe are confidential commercial or business information, the disclosure of which would adversely affect Oracle. In the event of the termination or resignation of a participant during fiscal year 2006, we intend to have the
person who assumes the responsibilities of that participant assume the same bonus structure as that participant, but adjusted, as determined by the Compensation Committee, to take into account that such person did not serve in that capacity for the
entire fiscal year. 
  
 Payment of Awards. All awards will be paid in
cash as soon as is practicable following determination of the award, unless the Committee has, prior to the grant of an award, received and approved, in its sole discretion, a request by a participant to defer receipt of an award in accordance with
the Bonus Plan. 
  
 Maximum Award. The amounts that will be paid
pursuant to the Bonus Plan are not currently determinable. The maximum bonus payment that our Chief Executive Officer may receive under the Bonus Plan for fiscal year 2006 would be $9,680,000. The maximum bonus payment that any other participant may
receive under the Bonus Plan for fiscal year 2006 is based on a fixed multiple of a target bonus for such participant and would be less than the maximum bonus payment that our Chief Executive Officer may receive under the Bonus Plan. 

 Amendment and Termination. The Compensation Committee may terminate the Bonus Plan, in whole or in part,
suspend the Bonus Plan, in whole or in part from time to time, and amend the Bonus Plan, from time to time, including the adoption of amendments deemed necessary or desirable to correct any defect or supply omitted data or reconcile any
inconsistency in the Bonus Plan or in any award granted thereunder, so long as stockholder approval has been obtained, if required in order for awards under the Bonus Plan to qualify as “performance-based compensation” under
Section 162(m) of the Code. The Compensation Committee may amend or modify the Bonus Plan in any respect, or terminate the Bonus Plan, without the consent of any affected participant. However, in no event may such amendment or modification
result in an increase in the amount of compensation payable pursuant to any award. 
  
 Termination of Employment. Should a participant’s employment with us terminate for any reason during fiscal year 2006, the participant will not be eligible to receive an award under the Bonus Plan. 
  
 Federal Income Tax Consequences. Under present federal income tax law,
participants will realize ordinary income equal to the amount of the award received in the year of receipt. That income will be subject to applicable income and employment tax withholding by Oracle. We will receive a deduction for the amount
constituting ordinary income to the participant, provided that the Bonus Plan satisfies the requirements of Section 162(m) of the Code, which limits the deductibility of nonperformance-related compensation paid to certain corporate executives,
and otherwise satisfies the requirements for deductibility under federal income tax law.REGISTRATION RIGHTS AGREEMENT

 Exhibit 10.47 
  
 REGISTRATION RIGHTS AGREEMENT 
 FOR 
 LIMITED PARTNERSHIP UNITS 
  
 THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of October 1, 2002,
by and among La Grange Energy, L.P., a Texas limited partnership (together with its successors and assigns, the “Company”), and each of the parties listed as Owners on the execution page hereof (collectively, the
“Owners” and, individually, an “Owner”). 
  
 1. Background. Pursuant to that certain Subscription Agreement dated as of the date hereof, by and among the Company and the Owners, the Company is obligated to enter into this Agreement in order to provide the
Owners with certain registration rights regarding units of the Company’s limited partnership interests. Certain terms used herein are defined in Section 3 of this Agreement. 
  
 2. Registration under Securities Act, and Related Matters. 
  
 2.1. Demand Registration. 
  
 (a) Concurrently with or from time to time after the Initial
Registration Date, upon written request (a “Demand Request”), the Requisite Holders may request in writing that the Company effect the registration under the Securities Act of all or a portion of such Requisite Holders’
Registrable Securities, subject to the limitations specified herein. 
  
 (b) Procedures for Demand Registration. 
  
 (i) A Demand Request shall specify (A) the number of Registrable Securities the Owner or Owners desire to have registered,
(B) the Owners intending to register their Registrable Securities, (C) the respective amount of Registrable Securities intended to be registered by each such Owner, (D) the intended method or methods of distribution of all such
Registrable Securities by such Owners, and (E) whether or not the Owners elect such registration to be an underwritten offering. 
  
 (ii) The Company shall, within five business days, give Notice of a Demand Request to all other Owners of Registrable Securities, if any;
and 
  
 (iii) Promptly after the performance of
any obligations imposed under clauses (i) and (ii) of this Section 2.1(b), and subject to the limitations set forth in Section 2.1(f) below, the Company shall use its best efforts to effect the registration under the Securities
Act of: 
  
 (A) the Registrable Securities which
the Company has been so requested to register by such Owners, and 
  

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 (B) all other Registrable Securities which the Company has been requested to register by
the other Owners thereof upon written request by such other Owners given to the Company within 30 days after the giving of such Notice by the Company (which request shall specify the number of Registrable Securities to be included in such
registration), all to the extent requisite to permit the disposition (in accordance with the intended methods thereof as aforesaid) of the Registrable Securities so to be registered. 
  
 (c) Registration of Other Securities. Whenever the Company shall effect a registration pursuant to
this Section 2.1 in connection with an underwritten offering by one or more Owners of Registrable Securities, no securities other than Registrable Securities shall be included among the securities covered by such registration unless:
(i) the managing underwriter of such offering shall have advised each Owner of Registrable Securities to be covered by such registration in writing that the inclusion of such other securities would not adversely affect such offering, or
(ii) the Owners of at least a Super Majority of the Registrable Securities to be covered by such registration shall have consented in writing to the inclusion of such other securities. 
  
 (d) Registration Statement Form. Registrations under
this Section 2.1 shall be on such appropriate registration form of the Commission: (i) as shall be selected by the Company and as shall be reasonably acceptable to Owners of at least a Super Majority of the Registrable Securities being
registered, and (ii) as shall permit the disposition of such Registrable Securities in accordance with the intended method or methods of disposition specified in the request for such registration. The Company agrees to include in any such
Registration Statement all information which Owners of the Registrable Securities being registered shall reasonably request. 
  
 (e) Expenses. The Company shall pay all Registration Expenses in connection with any registration requested pursuant to this
Section 2.1. Any Selling Expenses in connection with any registration requested under this Section 2.1 shall be allocated among all Persons on whose behalf securities of the Company are included in such registration, on the basis of the
respective amounts of the securities then being registered on their behalf. 
  
 (f) Limitations on Requested Registrations. The Company’s obligation to take or continue any action to effect a requested registration under this Section 2.1 shall be subject to the following:

  

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 (i) The Company shall not be required to effect more than three registrations
requested pursuant to this Section 2.1 (including one “shelf” registration pursuant to Section 2.1(f)(iii) hereof). Except as provided in Section 2.1(f)(v), a registration shall not count as a requested registration pursuant
to Section 2.1(a) for purposes of this Section 2.1(f)(i) until it has become effective. A registration requested pursuant to this Section 2.1 shall not be deemed to have become effective: (A) unless a Registration Statement with
respect thereto has been declared effective and remains effective until the earlier of (y) all of the Registrable Securities registered under such Registration Statement have been sold or (z) for a period of at least 180 days (or, with
respect to a shelf Registration Statement, two years), (B) if after a Registration Statement has become effective, such registration is subject to any stop order, injunction or other order or requirement of the Commission or other governmental
agency or court for any reason, or (C) if the conditions to closing specified in the purchase agreement or underwriting agreement entered into in connection with such registration are not satisfied or waived, other than as a result of the
voluntary termination of such offering by the Requisite Holders; 
  
 (ii) The Company shall not be required to effect a registration pursuant to this Section 2.1 unless such registration has been requested by a number of Owners constituting Requisite Holders; 
  
 (iii) At any time the Company is eligible to register
securities for a continuous and indefinite period of time on any form similar in substance to SEC Form S-3 (or any successor form or method of registration that provides for the incorporation by reference of historical information regarding the
Company’s business and financial affairs) pursuant to Rule 415 or otherwise, one Demand Request pursuant to this Section 2.1 may be made by the Requisite Holders hereunder for the Company to prepare and file a “shelf”
Registration Statement pursuant to Rule 415 with respect to the resale by the Owners of their Registrable Securities and providing for such plan of distribution as may be specified in the request of the Requisite Holders. Such Demand Request will
state that the Requisite Holders elect to have the registration be a shelf registration. The Company shall comply with the applicable provisions of the Securities Act with respect to the disposition of all securities covered by the shelf
Registration Statement in accordance with the intended methods of disposition by the Owners thereof; and 
  
 (iv) The Company will not be required to effect a registration pursuant to this Section 2.1 during the ninety-day period after a
registration statement shall have been filed and declared effective under the Securities Act with respect to the 
  

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 firm commitment underwritten public offering of any class of the Company’s equity securities, in
which the Owners of Registrable Securities have been or will be permitted to include all of their Registrable Securities so requested to be registered pursuant to Section 2.2 (which shall exclude a registration of securities on Form S-8 or
otherwise with respect to an employee benefit, retirement or similar plan). 
  
 (v) At any time after a Registration Statement covering Registrable Securities becomes effective, the Owners of a Super Majority of Registrable Securities covered by such registration may request that the Company
withdraw the Registration Statement. Such requested registration shall not constitute a request under Section 2.1(a) for purposes of Section 2.1(f), except as provided in this Section 2.1(f)(v). If the Company withdraws such requested
registration after the filing of the Registration Statement with the Commission, the Owners shall be deemed to have used one of their registration rights under Section 2.1(a) for purposes of Section 2.1(f), unless such request of
withdrawal was caused by, or made in response to, (1) a material adverse effect or similar event related to the business, properties, condition, prospects or operation of the Company, or (2) a material adverse change in the financial
markets or the economy; provided, however, that such withdrawn Registration Statement shall not count as a requested registration pursuant to Section 2.1(a) for purposes of Section 2.1(f)(v) if the Company shall have been reimbursed by the
Owners of Registrable Securities covered by such registration for all reasonable out-of-pocket expenses incurred by the Company in connection with such withdrawn registration. 
  
 (g) Requested Underwritten Registration. If the Requisite Holders requesting registration
pursuant to this Section 2.1 so elect, the offering of such Registrable Securities pursuant to such registration shall be in the form of an underwritten offering. The Requisite Holders so electing shall, subject to the consent of the Company
(which consent shall not be unreasonable withheld), select one or more nationally recognized underwriters thereof to act as the lead managing underwriter or underwriters in connection with such offering. 
  
 (h) Priority in Underwritten Requested Registrations.
If a requested registration pursuant to this Section 2.1 involves an underwritten offering, and the managing underwriter shall advise the Company in writing (with a copy to each Owner of Registrable Securities requesting registration) that, in
its opinion, the number of Registrable Securities requested to be included in such registration exceeds the number which can be sold in such offering without having an adverse effect on such offering (including the price range acceptable to the
Requisite Holders), then the Registrable Securities to be offered for the accounts of the requesting holders in such offering shall be reduced or limited pro rata among the holders thereof requesting such registration on 
  

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 the basis of the percentage of the Registrable Securities of the Company held by the holders of
Registrable Securities which have requested that such Registrable Securities be included. If the Owners requesting registration under this Section 2.1 are unable to sell at least 80% of the Registrable Securities requested by such Owners to be
included in any registration pursuant to Section 2.1 as a result of an underwriter’s cutback pursuant to this Section 2.1(h), then such registration shall not count as a requested registration for purposes of Section 2.1(f)(i).
In connection with any registration as to which the provisions of this Section 2.1(h) apply, no securities other than Registrable Securities shall be covered by such registration. 
  
 2.2. Incidental Registration. 
  
 (a) Right to Include Registrable Securities. If the Company at any time proposes to register any of
its securities of the same class as the Registrable Securities under the Securities Act (other than: (i) in connection with a registration on Form S-8 promulgated under the Securities Act, of securities issuable under any employee benefit,
retirement or similar plan, (ii) in connection with a registration on Form S-4 promulgated under the Securities Act with respect to a Rule 145 transaction, or (iii) pursuant to Section 2.1), whether in an underwritten offering or
otherwise and whether or not for sale for its own account, it shall each such time, at least 30 days before the filing of the Registration Statement related thereto, give prompt Notice to all Owners of Registrable Securities of its intention to
register such shares and of such Owners’ rights under this Section 2.2. Upon the written request of any such Owner made within 30 days after the receipt of any such Notice (which request shall specify the Registrable Securities intended to
be disposed of by such Owner and the intended method of disposition thereof), the Company will use its best efforts to effect the registration under the Securities Act of all Registrable Securities which the Company has been so requested to register
by the Owners thereof, to the extent requisite to permit the disposition (in accordance with the intended methods thereof as aforesaid) of the Registrable Securities so to be registered; provided, that if, at any time after giving Notice of its
intention to register any securities and prior to the effective date of the Registration Statement filed in connection with such registration, the Company shall determine for any reason not to register or to delay registration of such securities,
the Company may, at its election, give Notice of such determination to each Owner of Registrable Securities and: (i) in the case of a determination not to register, shall be relieved of its obligation to register any Registrable Securities in
connection with such registration (but not from its obligation to pay the Registration Expenses in connection therewith), without prejudice, however, to the rights of any Owner or Owners of Registrable Securities entitled to do so to request that
such registration be effected as a registration under Section 2.1 above, and (ii) in the case of a determination to delay registering, shall be permitted to delay registering any Registrable Securities, for the same period as the delay in
registering such other securities. No registration effected under this Section 2.2 shall be deemed to have been 
  

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 effected pursuant to Section 2.1 above or shall relieve the Company of its obligation to effect any
registration upon request under Section 2.1 above. The Company shall pay all Registration Expenses in connection with each registration of Registrable Securities requested pursuant to this Section 2.2, and (in the case of (i) above
but not (ii)) any Selling Expenses shall be allocated among all Persons on whose behalf securities of the Company are included in such registration, on the basis of the respective amounts of the Registrable Securities then being registered on their
behalf. 
  
 (b) Priority in Incidental
Registrations. If : (i) a registration pursuant to this Section 2.2 involves an underwritten offering of the securities so being registered, whether or not for sale for the account of the Company, to be distributed (on a firm
commitment basis) by or through one or more nationally recognized underwriters under underwriting terms appropriate for such a transaction, and (ii) the managing underwriter of such underwritten offering shall inform the Company and the Owners
of the Registrable Securities requesting such registration by letter of its belief that the number of securities requested to be included in such registration exceeds the number which can be sold in (or during the time of) such offering within a
price range acceptable to the Company, then the Company shall include in such registration, to the extent of the number which the Company is so advised can be sold in (or during the time of ) such offering, first, all securities proposed by the
Company to be sold for its own account, second, such Registrable Securities requested to be included in such registration pro rata on the basis of the number of such securities so proposed to be sold and so requested to be included, and third, all
other securities of the Company requested to be included in such registration pro rata on the basis of the number of such securities so proposed to be sold and so requested to be included. 
  
 (c) The number of requests permitted by the Owners of
Registrable Securities pursuant to this Section 2.2 shall be unlimited. 
  
 2.3. Registration Procedures. If and whenever the Company is required to use its best efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Section 2.1 or
2.2 above, the Company shall as expeditiously as possible: 
  
 (i) prepare and (subject to (iii) below, as soon thereafter as possible or in any event no later than 60 days after the end of the period within which requests for registration may be given to the Company) file
with the Commission the requisite Registration Statement to effect such registration and thereafter use its best efforts to cause such Registration Statement to become and remain effective; provided, that the Company may discontinue any registration
of its securities which are not Registrable Securities (and, under the circumstances specified in Section 2.2(a) above, its securities which are Registrable Securities) at any time prior to the effective date of the Registration Statement
relating thereto; 
  

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 (ii) prepare and file with the Commission such amendments and supplements to such
Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration Statement effective, and comply with the provisions of the Securities Act with respect to the disposition of all Registrable
Securities covered by such Registration Statement, until the earlier of (A) such time as all of such Registrable Securities have been disposed of in accordance with the intended methods of disposition by the Owner or Owners thereof set forth in
such Registration Statement or (B) 180 days (or with respect to a shelf Registration Statement, two years) from the date such Registration Statement is declared effective; 
  
 (iii) furnish, at least ten business days before filing a Registration Statement or a Prospectus relating
thereto with the Commission, to each Owner of Registrable Securities covered by such Registration Statement (and one counsel selected by the Owners of at least a Super Majority of the Registrable Securities to be covered by such registration (the
“Owners’ Counsel”)) such number of conformed copies of such Registration Statement that registers such Registrable Securities, and of each such amendment and supplement thereto (in each case including, without limitation, all
exhibits); such number of copies of the Prospectus contained in such Registration Statement (including, without limitation, each preliminary Prospectus and any summary Prospectus); and such number of copies of any other Prospectus filed with the
Commission under Rule 424, in conformity with the requirements of the Securities Act, and such other documents as such Owner may reasonably request; provided, that the Company shall not file any part thereof to which any such Owner shall have
reasonably objected on the grounds that such amendment or supplement does not comply in all material respects with the requirements of the Securities Act or of the rules or regulations thereunder; 
  
 (iv) notify in writing the Owners’ Counsel (a) of
the receipt by the Company of any notification with respect to any comments by the Commission with respect to such Registration Statement or Prospectus or any amendment or supplement thereto, or any request by the Commission for the amending or
supplementing thereof or for additional information with respect thereto, (b) of the receipt by the Company of any notification with respect to the issuance by the Commission of any stop order suspending the effectiveness of such Registration
Statement or Prospectus or any amendment or supplement thereto, or the initiation or threatening of any proceeding for that purpose and (c) of the receipt by the Company of any notification with respect to the suspension of the qualification of
such Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purposes; 
  

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 (iv) use its best efforts to register or qualify all Registrable Securities and other
securities covered by such Registration Statement under such other securities or blue sky laws of such jurisdictions as each Owner thereof shall reasonably request, to keep such registration or qualification in effect for so long as such
Registration Statement remains in effect, and to take any other action which may be reasonably necessary or advisable to enable such Owner to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Owner or
seller, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign limited partnership in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated
to be so qualified or to consent to general service of process in any such jurisdiction (except as required by such other securities or blue sky laws); 
  
 (v) without limiting clause (iv) above, use its best efforts to cause all Registrable Securities covered by such Registration
Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Owner or Owners thereof to consummate the disposition of such Registrable Securities; 
  
 (vi) furnish to each Owner of Registrable Securities and to
the Owners’ Counsel a signed counterpart, addressed to such Owner and Owners’ Counsel (and underwriters, if any), of: 
  
 (A) an opinion of counsel for the Company, dated the effective date of such Registration Statement (and, if such registration includes an
underwritten offering, dated the date of the closing under the underwriting agreement), reasonably satisfactory in form and substance to such Owner, and 
  
 (B) a “comfort” letter, dated the effective date of such Registration Statement (and, if such registration includes an
underwritten public offering, dated the date of the closing under the underwriting agreement), signed by the independent certified public accountants who have certified the Company’s financial statements included in such Registration Statement,
and any other comfort letters issued to the Company in connection with such Registration Statement; 
  

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 in each case covering substantially the same matters with respect to such Registration Statement ( and
the Prospectus included therein) and, in the case of the accountants’ letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer’s counsel and in accountants’
letters delivered to the underwriters in underwritten public offerings of securities and, in the case of the accountants’ letter, such other financial matters, and, in the case of the legal opinion, such other legal matters, as such Owner may
reasonably request; 
  
 (vii) notify each Owner
of Registrable Securities covered by such Registration Statement, at any time when a Prospectus relating thereto is required to be delivered under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the
Prospectus included in such Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in
the light of the circumstances under which they were made, and promptly prepare and furnish to each Owner a reasonable number of copies of a supplement to or an amendment of such Prospectus as may be necessary so that, as thereafter delivered to the
purchasers of such Registrable Securities, such Prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the
light of the circumstances under which they were made; 
  
 (viii) otherwise use its best efforts to comply with all applicable rules and regulations of the Commission, and furnish to each Owner of Registrable Securities, as soon as reasonably practicable, earnings statements covering a period of 12
months beginning within three months after the effective date of the subject Registration Statement (which earnings statements shall satisfy the provisions of Section 11(a) of the Securities Act); 
  
 (ix) provide and cause to be maintained a transfer agent and
registrar for all Registrable Securities covered by such Registration Statement from and after a date not later than the effective date of such Registration Statement; 
  
 (x) apply for listing and use best efforts to list all Registrable Securities covered by such Registration
Statement on any national securities exchange on which any equity securities of the Company of the same class as the Registrable Securities are then listed; or, if the Company does not have equity securities listed on a national securities exchange
or automated quotation system, then apply for qualification and use its best efforts to qualify such Registrable Securities for inclusion on such national securities exchange or quotation system as the Owners of a Super Majority of Registrable
Securities covered by such Registration Statement shall reasonably request; 
  

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 (xi) cause senior representatives of the Company to participate in all roadshows
reasonably requested by an underwriter of an underwritten or “best efforts” offering, and other marketing activities as may be reasonably requested by such underwriters; 
  
 (xii) promptly issue to any underwriter to which the Owners holding such Registrable Securities may sell
Registrable Securities in such offering certificates evidencing such Registrable Securities; and 
  
 (xiii) enter into any other agreements and take any other actions as the Requisite Holders shall reasonably request in order to expedite
or facilitate the disposition of such Registrable Securities. 
  
 The Company may require each Owner of Registrable Securities as to which any registration is being effected to furnish to the Company such information regarding such Owner and the distribution of such Registrable Securities as the Company
may from time to time reasonably request in writing. 
  
 Each
Owner of Registrable Securities agrees by acquisition of such Registrable Securities that upon receipt of any Notice from the Company of the happening of any event of the kind described in clause (vii) of this Section 2.3, such Owner will
forthwith discontinue such Owner’s disposition of Registrable Securities pursuant to the Registration Statement relating to such Registrable Securities until such Owner’s receipt of the copies of the supplemented or amended prospectus
contemplated by clause (vii) of this Section 2.3 and, if so directed by the Company, will deliver to the Company (at the Company’s expense) all copies, other than permanent file copies, then in such Owner’s possession of the
Prospectus relating to such Registrable Securities current at the time of receipt of such Notice. 
  
 2.4 Underwritten Offerings. 
  
 (a) Requested Underwritten Offerings. If requested by the underwriters for any underwritten offering by Owners of Registrable
Securities pursuant to a registration requested under Section 2.1 above, the Company shall enter into an underwriting agreement with such underwriters for such offering, such agreement to be satisfactory in substance and form to each such Owner
and to the underwriters, and to contain such representations and warranties by the Company and such other terms as are generally prevailing in agreements of this type, including, without limitation, indemnities to the effect and to the extent
provided in Section 2.7 below. The Owners of Registrable Securities to be distributed by such underwriters shall be parties to such underwriting 
  

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 agreement and may, at their option, require that any or all of the representations and warranties by, and
the other agreements on the part of, the Company to and for the benefit of such underwriters shall also be made to and for the benefit of such Owners of Registrable Securities and that any or all of the conditions precedent to the obligations of
such underwriters under such underwriting agreement be conditions precedent to the obligations of such Owners of Registrable Securities. No such Owner of Registrable Securities shall be required to make any representations or warranties to, or
agreements with, the Company or the underwriters, other than representations, warranties or agreements regarding the identity of such Owner, such Owners’ Registrable Securities and such Owner’s intended method of distribution and any other
representation, warranty or agreement required by law. Notwithstanding Sections 2.1 (e) and 2.3, to the extent that the Owners selling Registrable Securities in a proposed registration shall enter into an underwriting or similar agreement,
which agreement contains provisions covering one or more issues addressed in such Sections of this Agreement, the provisions contained in such Sections of this Agreement addressing such issue or issues shall be of no force or effect with respect to
such registration, but this provision shall not apply to the Company if the Company is not a party to the underwriting or similar agreement. 
  
 (b) Incidental Underwritten Offerings. If the Company at any time proposes to register any of its securities under the Securities
Act as contemplated by Section 2.2 above and such securities are to be distributed by or through one or more underwriters, the Company shall, if requested by any Owner of Registrable Securities as provided in Section 2.2 above (subject to
the Notice provisions of Section 2.2(a)), and subject to the provisions of Section 2.2(b) above, arrange for such underwriters to include all the Registrable Securities to be offered and sold by such Owner among the securities to be
distributed by such underwriters. The Owners of Registrable Securities to be distributed by such underwriters shall be parties to the underwriting agreement among the Company and such underwriters and may, at their option, require that any or all of
the representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of such underwriters shall also be made to and for the benefit of such Owners of Registrable Securities, and that any or all of the
conditions precedent to the obligations of such underwriters under such underwriting agreement be conditions precedent to the obligations of such Owners of Registrable Securities. No such Owner of Registrable Securities shall be required to make any
representations or warranties to, or agreements with, the Company or the underwriters, other than representations, warranties or agreements regarding the identity of such Owner, such Owners’ Registrable Securities and such Owner’s intended
method of distribution and any other representation, warranty or agreement required by law. 
  
 2.5. Preparation; Reasonable Investigation. In addition and not in limitation of clause (iii) of Section 2.3, in
connection with the preparation and filing of each Registration Statement under the Securities Act pursuant to this Agreement, the Company 
  

 11 

 shall give the Owners of Registrable Securities registered under such registration statement, and their
counsel and accountants, the opportunity to participate in the preparation of such Registration Statement, each Prospectus included therein or filed with the Commission, and each amendment thereof or supplement thereto. The Company shall make
available upon reasonable notice and during normal business hours, for inspection by the Requisite Holders, any underwriter participating in any disposition pursuant to such Registration Statement and any attorney, accountant or other agent or
representative retained by such Requisite Holders or underwriter (collectively, the “Inspectors”), all pertinent financial and other records, pertinent documents and properties of the Company (collectively, the
“Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers, directors and employees to supply all information (together with the Records, the
“Information”) reasonably requested by any such Inspector in connection with such Registration Statement. Any of the Information which the Company determines in good faith to be confidential, and of which determination the
Inspectors are so notified, shall not be disclosed by the Inspectors unless (i) the disclosure of such Information is necessary to avoid or correct a material misstatement or omission in the Registration Statement; (ii) the release of such
Information is ordered pursuant to a subpoena or other order from a court or governmental agency or authority of competent jurisdiction; (iii) such Information has been made generally available to the public through no breach of the
nondisclosure obligations of the Inspectors or their Affiliates; or (iv) such disclosure is required to be made under applicable law. 
  
 2.6. Additional Rights of Owners. If any Registration Statement prepared under this Agreement refers to any Owner by name or
otherwise as the holder of any securities of the Company, then such Owner shall have the right to require: (a) the insertion therein of language, in form and substance satisfactory to such Owner, to the effect that the holding by such Owner of
such securities does not necessarily make such Owner a “controlling person” of the Company within the meaning of the Securities Act, and is not to be construed as a recommendation by such Owner of the investment quality of the
Company’s debt or equity securities covered thereby, and that such holding does not imply that such Owner will assist in meeting any future financial requirements of the Company, or (b) in the event that such reference to such Owner by
name or otherwise is not required by the Securities Act or any rules and regulations promulgated thereunder, the deletion of the reference to such Owner. 
  
 2.7. Indemnification. 
  
 (a) Indemnification by the Company. In the event of any registration of any Registrable Securities under the Securities Act, the
Company shall, and hereby does agree to, indemnify and hold harmless each Owner of any Registrable Securities covered by such Registration Statement, its directors and officers, managers, employees, 
  

 12 

 members, partners, shareholders and advisors and their respective Affiliates, each underwriter, broker or
any other person acting on behalf of the holders of Registrable Securities, and each other Person who participates in the offering or sale of such securities, as well as each other Person, if any, who “controls” any of the foregoing
Persons, within the meaning of the Securities Act, against any losses, claims, damages or liabilities joint or several (or actions or proceedings, whether commenced or threatened, in respect thereof), to which any of the foregoing Persons may become
subject, under the Securities Act, the Exchange Act, state securities or blue sky laws, common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions or proceedings, whether commenced or threatened, in respect thereof)
arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in any Registration Statement under which such securities were registered under the Securities Act, any preliminary Prospectus, final
Prospectus, or summary Prospectus contained therein, or any amendment or supplement thereto, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not
misleading, or with respect to any Prospectus, necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, or any violation by the Company of the Securities Act or state securities or blue sky
laws applicable to the Company or relating to action or inaction required of the Company in connection with such registration or qualification under such state securities or blue sky laws; and shall reimburse such Persons for any legal or any other
expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, liability, action or proceeding; provided that the Company shall not be liable in any such case to the extent that any such loss, claim,
damage, liability (or action or proceeding in respect thereof) or expense arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such Registration Statement or in any such preliminary
Prospectus, final Prospectus, summary Prospectus, or amendment or supplement thereof in reliance upon and in conformity with written information furnished to the Company through an instrument duly executed by such Owner specifically stating that it
is for use in the preparation thereof; and provided further, that the Company shall not be liable to any Person who participates as an underwriter in the offering or sale of Registrable Securities or any other Person, if any, who controls
such underwriter within the meaning of the Securities Act, in any such case to the extent that any such loss, claim, damage, liability (or action or proceeding in respect thereof) or expense arises out of such Person’s failure to send or give a
copy of the final Prospectus to the Person asserting an untrue statement or alleged untrue statement or omission or alleged omission at or prior to the written confirmation of the sale of Registrable Securities to such Person, if such statement or
omission was corrected in such final Prospectus. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Owner or any of the other aforementioned Persons, and shall survive the transfer of
such securities by such Owner. 
  

 13 

 (b) Indemnification by the Sellers. The Company may require, as a condition to
including any Registrable Securities in any registration statement filed pursuant to Section 2.1 or 2.2 above, that the Company shall have received an undertaking satisfactory to it from the prospective seller of such Registrable Securities, to
indemnify and hold harmless (in the same manner and to the same extent as set forth in Section 2.7(a) above) the Company, each director of the Company, each officer of the Company, each underwriter, broker or other Person acting on behalf of
such prospective seller of Registrable Securities and each other Person, if any, who “controls” the Company within the meaning of the Securities Act, with respect to any statement or alleged statement in or omission or alleged omission
from such Registration Statement, any preliminary Prospectus, final Prospectus or summary Prospectus contained therein, or any amendment or supplement thereto, if such statement or alleged statement or omission or alleged omission was made in
reliance upon and in conformity with written information furnished to the Company through an instrument duly executed by such seller specifically stating that it is for use in the preparation of such Registration Statement, preliminary Prospectus,
final Prospectus, summary Prospectus, amendment or supplement. The maximum liability of each such Owner for any such indemnification shall not exceed the amount of proceeds actually received by such Owner from the sale of his/her/its Registrable
Securities pursuant to such registration. Such indemnity shall remain in full force and effect, regardless of any investigation made by or on behalf of the Company or any such director, officer or controlling Person, and shall survive the transfer
of such Registrable Securities by such Owner. 
  
 (c) Notices of Claims, and Related Matters. Promptly after receipt by an indemnified party of Notice of the commencement of any action or proceeding involving a claim referred to in Section 2.7(a) or (b) above, such
indemnified party will, if a claim in respect thereof is to be made against an indemnifying party, give Notice to the latter of the commencement of such action; provided that the failure of any indemnified party to give Notice as provided
herein shall not relieve the indemnifying party of its obligations under Section 2.7(a) or (b) above, except to the extent that the indemnifying party is actually prejudiced by such failure to give Notice. In case any such action is
brought against an indemnified party, unless, in such indemnified party’s reasonable judgment, a conflict of interest between such indemnified and indemnifying parties may exist in respect of such claim, the indemnifying party shall be entitled
to participate in and to assume the defense thereof, jointly with any other indemnifying party similarly notified to the extent that it may wish, with counsel satisfactory to such indemnified party, and after Notice from the indemnifying party to
such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be liable to such indemnified party for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof
other than reasonable costs of investigation. No indemnifying party shall, without the consent of the indemnified party, consent to entry of any 
  

 14 

 judgment or enter into any settlement which does not include as an unconditional term thereof the giving
by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation. 
  
 (d) If the indemnification provided for hereunder is held by a court of competent jurisdiction to be unavailable to an indemnified party
with respect to any loss, claim, damage, liability or action referred to herein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amounts paid or payable by such indemnified party as a
result of such loss, claim, damage, liability or action in such proportion as is appropriate to reflect (i) the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with the statements
or omissions which resulted in such loss, claim, damage, liability or action, (ii) the relevant benefits received by the indemnifying party on the one hand and the indemnified party on the other hand from the offering effected pursuant to such
registration and (iii) as well as any other relevant equitable considerations, provided, however, that the maximum amount of liability in respect of such contribution shall be limited, in the case of each Owner of Registrable
Securities, to an amount equal to the net proceeds actually received by such Owner from the sale of Registrable Securities effected pursuant to such registration. The relative fault of the indemnifying party and of the indemnified party shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or by the
indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties agree that it would not be just and equitable if contribution pursuant hereto
were determined by pro rata allocation or by any other method or allocation which does not take account of the equitable considerations referred to herein. No person guilty or liable of fraudulent misrepresentation shall be entitled to contribution
from any person. 
  
 (e) Other
Indemnification. Indemnification similar to that specified in Sections 2.7(a), (b) and (c) above (with appropriate modifications) shall be given by the Company and each seller of Registrable Securities with respect to any required
registration or other qualification of securities under any Federal or state law or regulation of any governmental authority other than the Securities Act. 
  
 (f) Indemnification Payments. The indemnification required by this Section 2.7 shall be made by periodic payments of the
amount thereof during the course of the investigation or defense, as and when bills are received or expense, loss, damage or liability is incurred. 
  
 2.8. Adjustments Affecting Registrable Securities. The Company will not effect or permit to occur any combination or subdivision
which would adversely affect 
  

 15 

 the ability of the Owners of Registrable Securities to include such Registrable Securities in any
registration of its securities contemplated by this Section 2 or the marketability of such Registrable Securities under any such registration. 
  
 2.9 No Conflict of Rights; Future Rights. The Company shall not, after the date hereof, grant any registration rights that conflict
with or adversely affect the rights granted to the Owners hereby without the written consent of Owners of at least a Super Majority of the Registrable Securities then outstanding. If at any time following the date hereof, the Company shall grant to
any present or future holder of securities of the Company rights to in any manner cause or participate in any Registration Statement of the Company without the written consent of Owners of at least a Super Majority of the Registrable Securities then
outstanding that, in the judgment of the Owners, are superior to, pari passu with or otherwise conflict with the rights granted to the Owners hereby, such grant shall be null, void and ultra vires. 
  
 2.10 Mergers, etc. The Company shall not, directly or
indirectly, enter into any merger, consolidation or reorganization in which the Company shall not be the surviving entity unless the surviving entity shall, prior to such merger, consolidation or reorganization, agree in writing to assume those
obligations of the Company under this Agreement (other than Section 2.9) as shall be mutually acceptable to such surviving entity and Owners of at least a Super Majority of the Registrable Securities then outstanding, and for that purpose
references hereunder to “Registrable Securities” shall be deemed to include the common equity interests or other securities, if any, which the Owners would be entitled to receive in exchange for Registrable Securities under any such
merger, consolidation or reorganization, provided that, to the extent the Owners receive securities that are by their terms convertible into common equity interests of the issuer thereof, then any such common equity interests as are issued or
issuable upon conversion of said convertible securities shall be included within the definition of “Registrable Securities.” 
  
 3. Definitions. As used herein, unless the context otherwise requires, the following terms have the following respective meanings:

  
 Commission: The Securities and
Exchange Commission or any other Federal agency at the time administering the Securities Act. 
  
 Company: Shall have the meaning specified in the preamble. 
  
 Demand Request: Shall have the meaning specified in Section 2.1(a). 
  
 Exchange Act: The Securities Exchange Act of 1934, as
amended, or any similar Federal statute, and the rules and regulations of the Commission thereunder, all as the 
  

 16 

 same shall be in effect at the time. Reference to a particular section of the Securities Exchange Act of
1934 shall include a reference to the comparable section, if any, of any such similar Federal statute. 
  
 Information: Shall have the meaning specified in Section 2.5. 
  
 Initial Registration Date: The first to occur of the following: (i) the date on which the
Company authorizes a Registration Statement to be filed with the Commission with respect to an initial public offering of the Company’s securities pursuant to the Securities Act, or (ii) the effective date upon which the Company is merged
into, consolidated with, or has sold substantially all of its assets to, another Person who has previously issued securities registered under the Securities Act and which are registered under Section 12 of the Exchange Act. 
  
 Inspectors: Shall have the meaning specified in
Section 2.5. 
  
 NASD: The automated
quotation system of the National Association of Securities Dealers, Inc. 
  
 Notice: Shall have the meaning specified in Section 7. 
  
 Owner: Shall have the meaning specified in the preamble. 
  
 Owners’ Counsel: Shall have the meaning specified in clause (iii) of Section 2.3.

  
 Person: A corporation, an association,
a partnership, a limited liability company, a business, an individual, a governmental or political subdivision thereof or a governmental agency. 
  
 Prospectus: means the prospectus included in a Registration Statement, including any amendment or prospectus subject to completion,
and any such prospectus as amended or supplemented by any prospectus supplement with respect to the terms of the offering of any portion of the Registrable Securities and, in each case, by all other amendments and supplements to such prospectus,
including post-effective amendments, and in each case including all material incorporated by reference therein. 
  
 Records: Shall have the meaning specified in Section 2.5. 
  
 Registrable Securities: Any of the equity interests of the Company owned by an Owner, including all
limited partnership units issued upon exercise of options or warrants held by an Owner, and any securities issued or issuable with respect to any such limited 
  

 17 

 partnership units by way of distribution or in connection with any reorganization or other
recapitalization, merger, consolidation or otherwise. As to any particular Registrable Securities, once issued, such securities shall cease to be Registrable Securities when: (a) a Registration Statement with respect to the sale of such
Registrable Securities shall have become effective under the Securities Act and such Registrable Securities shall have been disposed of in accordance with such Registration Statement, (b) such securities shall have been distributed to the
public pursuant to Rule 144 under the Securities Act, (c) such Registrable Securities shall have been otherwise transferred, new certificates for them not bearing a legend restricting further transfer shall have been delivered by the Company
and subsequent disposition of them shall not require registration or qualification of them under the Securities Act or any similar state law then in force, (d) such Registrable Securities shall have ceased to be outstanding. 
  
 Registration Expenses: All expenses incident to the
Company’s performance of or compliance with the registration requirements set forth in Section 2.1 and 2.2 above, including, without limitation, all registration, filing and NASD fees, exchange or national market listing fees, all fees and
expenses of complying with applicable laws (including securities or blue sky laws), all word processing, duplicating and printing expenses, messenger and delivery expenses, the fees and disbursements of counsel for the Company and of its independent
public accountants, including, without limitation, the expenses of any special audits or “cold comfort” letters required by or incident to such performance and compliance, the fees and disbursements of one special counsel to the holders of
Registrable Securities, premiums and other costs of policies of insurance against liabilities arising out of the public offering of the Registrable Securities being registered, the fees and expenses of any special experts, including independent
petroleum engineers, retained by the Company in connection with such offering, the fees and expenses of any qualified independent underwriter or other independent appraiser participating in any offering pursuant to the Conduct Rules of the NASD, all
printing, mailing, courier and overnight delivery charges (except to the extent borne by underwriters), all travel expenses of the Company’s officers and employees and any other expenses of the Company in connection with attending or hosting
meetings with prospective purchasers of the offered securities, and any fees and disbursements of underwriters customarily paid by issuers or sellers of securities, but excluding Selling Expenses, if any; provided, that, in any case where
Registration Expenses are not to be borne by the Company, such expenses shall not include salaries of Company personnel or general overhead expenses of the Company, auditing fees, premiums or other expenses relating to liability insurance required
by underwriters of the Company or other expenses for the preparation of financial statements or other data normally prepared by the Company in the ordinary course of its business or which the Company would have incurred in any event. 
  
 Registration Statement: means any registration
statement of the Company that covers an offering of any of the Registrable Securities, and all amendments and 
  

 18 

 supplements to any such registration statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and all material incorporated by reference therein. 
  
 Requisite Holders: With respect to the initial Demand Request for registration of Registrable Securities pursuant to
Section 2.1 above, any holder or holders of more than 30% of the Registrable Securities then outstanding, and, with respect to any subsequent Demand Request for registration of Registrable Securities pursuant to Section 2.1 above, any
holder or holders of more than 20% of the Registrable Securities then outstanding. 
  
 Rule 144: Rule 144 promulgated under the Securities Act, or any successor rule thereto or any complementary rule thereto (such as
Rule 144A), as it may be amended from time to time. 
  
 Rule 144A: Rule 144A promulgated under the Securities Act, or any successor rule thereto or any complementary rule thereto, as it may be amended from time to time. 
  
 Rule 415: Rule 415 promulgated under the Securities Act, or any successor rule thereto or any
complementary rule thereto, as it may be amended from time to time. 
  
 Rule 424: Rule 424 promulgated under the Securities Act, or any successor rule thereto or any complementary rule thereto, as it may be amended from time to time. 
  
 Securities Act: The Securities Act of 1933, or any
similar Federal statute, and the rules and regulations of the Commission thereunder, all as of the same shall be in effect at the time. References to a particular section of the Securities Act of 1933 shall include a reference to the comparable
section, if any, of any such similar Federal statute. 
  
 Selling Expenses: Underwriting discounts and commissions, together with any transfer taxes relating to securities registered by the Company. 
  
 Super Majority: Sixty-six and two-thirds percent (66-2/3%). 
  
 4. Rule 144 and Rule 144A: 
  

(a) If the Company shall have filed a Registration Statement pursuant to the requirements of Section 12 of the Exchange Act or a Registration
Statement pursuant to the requirements of the Securities Act, the Company shall file the reports required to be filed by it under the Securities Act and the Exchange Act (or, if the Company is not required to file such reports, will, upon the
request of any Owner of Registrable Securities, make publicly available other information) and will take such further action as any Owner of Registrable Securities may reasonably request, all to the extent required from time to time to enable such
Owner to sell 
  

 19 

 Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by
Rule 144. Upon the request of any Owner of Registrable Securities, the Company shall deliver to such Owner a written statement as to whether it has complied with such requirements. After any sale of Registrable Securities pursuant to this
Section 4(a), the Company shall, to the extent allowed by law, cause any restrictive legends to be removed and any transfer restrictions to be rescinded with respect to such Registrable Securities. 
  
 (b) In order to permit the Owners of Registrable Securities to sell the same,
if they so desire, pursuant to Rule 144A, the Company shall comply with all rules and regulations of the Commission applicable in connection with use of Rule 144A. Prospective transferees of Registrable Securities that are Qualified Institutional
Buyers (as defined in Rule 144A), which would be purchasing such Registrable Securities in reliance upon Rule 144A, may request from the Company information regarding the business, operations and assets of the Company. Within five business days
after receipt by the Company of any such request, the Company shall deliver to any such prospective transferee copies of annual audited and quarterly unaudited financial statements of the Company and such other information as may be required to be
supplied by the Company for it to comply with Rule 144A. 
  
 5.
Amendments and Waivers. This Agreement may not be modified or amended except pursuant to a writing executed by the Company and Owners of at least a Super Majority of the Registrable Securities then outstanding; provided, however, that any
such modification or amendment that would have a material adverse effect on a particular Owner but would not have a similar material adverse effect on all Owners generally, or would otherwise remove an Owner as a party to this Agreement, shall
require the consent of such Owner. Each Owner of any Registrable Securities at the time or thereafter outstanding shall be bound by any consent authorized by this Section 5, whether or not such Registrable Securities shall have been marked to
indicate such consent. 
  
 6. Nominees for Beneficial
Owners. In the event that any Registrable Securities are held by a nominee for the beneficial owner thereof, the beneficial owner thereof may, at its election, be treated as the holder of such Registrable Securities for purposes of any request
or other action by any holder or holders of Registrable Securities pursuant to this Agreement, or any determination of any number or percentage of Registrable Securities held by any holder or holders of Registrable Securities contemplated by this
Agreement. If the beneficial owner of any Registrable Securities so elects, the Company may require assurances reasonably satisfactory to it of such owner’s beneficial ownership of such Registrable Securities. 
  
 7. Notice. Any notice, request, instruction, or correspondence or
other document to be given hereunder by either party to the other (herein collectively called “Notice”) shall be in writing and delivered in person or by courier service requiring acknowledgement of receipt of delivery or mailed by
certified mail, postage prepaid and return receipt requested, or by telecopier, as follows: 
  

 20 

	 	(i)	if to the Company to: 

	 	 	La Grange Energy, L.P. 

	 	 	2838 Woodside 

	 	 	Dallas, Texas 75204 

	 	 	Telephone: (214)981-0700 

	 	 	Attention: Clay Kutch 

  

	 	(ii)	if to the Owners, to their respective addresses set forth on Annex I hereto. 

  

All such notices, requests, consents and other communications shall be deemed to have been delivered (a) in the case of personal delivery or
delivery by telecopy, on the date of such delivery, (b) in the case of dispatch by nationally-recognized overnight courier, on the next business day following such dispatch and (c) in the case of mailing, on the third business day after
the posting thereof. 
  
 8. Assignment. This Agreement
shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns. In addition, and whether or not any express assignment shall have been made, the provisions of this Agreement
which are for the benefit of the Owners shall also be for the benefit of and enforceable by any subsequent holder of any Registrable Securities, subject to the provisions respecting the minimum numbers or percentages of Registrable Securities
required in order to be entitled to certain rights, or take certain actions, contained herein. 
  
 9. Termination. This Agreement shall terminate when no Registrable Securities remain outstanding. 
  
 10. Descriptive Headings. The descriptive headings of the several sections and paragraphs of this Agreement are inserted for reference only and
shall not limit or otherwise affect the meaning hereof. References herein to Sections are references to Sections of this Agreement, except as otherwise indicated. 
  
 11. Remedies; Specific Performance. 
  
 (a) Each Owner shall have all rights and remedies reserved for such Owner pursuant to this Agreement and all rights and
remedies which such Owner has been granted at any time under any other agreement or contract and all of the rights which such Owner has under any law or equity. Any Person having any rights under any provision of this Agreement will be entitled to
enforce such rights specifically, to recover damages by reason of any breach of any provision of this Agreement and to exercise all other rights granted by law or equity. 
  

 21 

 (b) The parties hereto recognize and agree that money damages may be insufficient to compensate the
holders of any Registrable Securities for breaches by the Company of the terms hereof and, consequently, that the equitable remedies of injunctive relief and of specific performance of the terms hereof will be available in the event of any such
breach. If any action should be brought in equity to enforce any of the provisions of this Agreement, none of the parties hereto shall raise the defense that there is an adequate remedy at law. 
  
 12. Governing Law. This Agreement shall be construed and enforced in
accordance with, and the rights of the parties shall be governed by, the internal laws of the State of Texas, without regard to rules or principles of conflicts of law requiring the application of the law of another State. 
  
 13. Entire Agreement. This Agreement, and the other writings referred
to herein or delivered pursuant hereto, contain the entire agreement among the parties hereto with respect to the subject matter hereof and supersede all prior and contemporaneous arrangements or understandings with respect thereto. 
  
 14. Severability. It is the desire and intent of the parties that the
provisions of this Agreement be enforced to the fullest extent permissible under the law and public policies applied in each jurisdiction in which enforcement is sought. Accordingly, in the event that any provision of this Agreement would be held in
any jurisdiction to be invalid, prohibited or unenforceable for any reason, such provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of
such provision in any other jurisdiction. Notwithstanding the foregoing, if such provision could be more narrowly drawn so as not be invalid, prohibited or unenforceable in such jurisdiction, it shall, as to such jurisdiction, be so narrowly drawn,
without invalidating the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction. 
  
 15. Counterparts; Facsimile. This Agreement may be executed simultaneously in any number of original or facsimile counterparts, each of which shall
be deemed an original, but all such counterparts shall together constitute one and the same instrument. 
  

 22 

 IN WITNESS WHEREOF, the parties have duly executed and delivered this Agreement or have caused this
Agreement to be executed and delivered by their respective officers thereunto duly authorized as of the date first above written. 
  

			
	COMPANY:
	
	LA GRANGE ENERGY, L.P.
		
	 By:
	 	 LE GP, L.L.C.,

	 	 	 its general partner

		
	 By:
	 	 /s/ Ray Davis

	 Name:
	 	 Ray Davis

	 Title:
	 	 Co-Chief Executive Officer

	
	OWNERS:
	
	ETC HOLDINGS, L.P.
		
	 By:
	 	 ET GP, L.L.C.,

	 	 	 its general partner

		
	 By:
	 	 /s/ Kelcy Warren

	 Name:
	 	 Keloy Warren

	 Title:
	 	 Co-Chief Executive Officer

	
	KELLEN HOLDINGS, LLC
		
	 By:
	 	 /s/ Daniel A. Rioux

	 Name:
	 	Daniel A. Rioux
	 Title:
	 	 Vice President and Treasurer

  

 23 

											
	GREENHILL CAPITAL PARTNERS, L.P.	 	OASIS GAS PARTNERS LLC
				
	By:	 	 GCP, L.P.,
 its general
partner
	 	By:	 	 /s/ Jackson Farrow Jr.

					
	 	 	By:	 	 GCP, LLC,
 its general
partner
	 	Name:	 	 Jackson Farrow Jr.

						
	 	 	 	 	By:	 	 [ILLEGIBLE]

	 	Title:	 	 V-P, Stephens Group Inc., Manager

	 	 	 	 	Name:	 	  

	 	 	 	 
	 	 	 	 	Title:	 	  

	 	 	 	 
						
	 	 	 	 	 	 	 	 	 	 	 
		
	 GREENHILL CAPITAL PARTNERS
 (CAYMAN), L.P.
	 	 HARVARD PRIVATE CAPITAL PROPERTIES
 III, INC.

				
	By:	 	 GCP, L.P.,
 its general
partner
	 	By:	 	 /s/ Michael S. Pradko

					
	 	 	By:	 	 GCP, LLC,
 its general
partner
	 	Name:	 	 Michael S. Pradko

						
	 	 	 	 	By:	 	 [ILLEGIBLE]

	 	Title:	 	 AUTHORISED SIGNATORY

	 	 	 	 	Name:	 	  

	 	 	 	 
	 	 	 	 	Title:	 	  

	 	 	 	 
		
	 GREENHILL CAPITAL PARTNERS,
 (EXECUTIVES), L.P.
	 	PH ENERGY LLC
				
	By:	 	 GCP, L.P.,
 its general
partner
	 	By:	 	 /s/ Benjamin A. Gomez

					
	 	 	By:	 	 GCP, LLC,
 its general
partner
	 	Name:	 	 Benjamin A. Gomez

						
	 	 	 	 	By:	 	 [ILLEGIBLE]

	 	Title:	 	 Managing Director

	 	 	 	 	Name:	 	  

	 	 	 	 
	 	 	 	 	Title:	 	  

	 	 	 	 
		
	GREENHILL CAPITAL, L.P.	 	WH ENERGY INVESTORS, L.L.C.
				
	By:	 	 GCP, L.P.,
 its general
partner
	 	By:	 	 /s/ E.H. Hawes

					
	 	 	By:	 	 GCP, LLC,
 its general
partner
	 	Name:	 	 E.H. Hawes

						
	 	 	 	 	By:	 	 [ILLEGIBLE]

	 	Title:	 	 Member

	 	 	 	 	Name:	 	  

	 	 	 	 
	 	 	 	 	Title:	 	  

	 	 	 	 

  

 24 

			
	 THE UNIVERSITY OF NORTH CAROLINA
 AT CHAPEL HILL FOUNDATION INVESTMENT FUND, INC.

		
	 By:
	 	 /s/ Nancy D. Suttenfield

	 Name:
	 	 Nancy D. Suttenfield

	 Title:
	 	Treasurer
	
	PHILLIPS OIL & GAS, INC.
		
	 By:
	 	 /s/ Fred L. Phillips

	 Name:
	 	 Fred L. Phillips

	 Title:
	 	 President

	
	RAINBOW INVESTMENTS COMPANY
		
	 By:
	 	 /s/ Duane S. Herbst

	 Name:
	 	 Duane S. Herbst

	 Title:
	 	 V.P.

  

 25 

 Annex I 
  
 Addresses of Owners 
  
 ETC Holdings, L.P. 
 2838 Woodside 
 Dallas, Texas 75204 
 Fax: (214) 981-0703 
  
 Kellen Holdings, LLC 
 c/o Liberty Energy Corporation 
 175 Berkeley Street 
 Boston, MA 02117 
 Attention: Dan A. Rioux 
 Telephone: (617) 574-5662 
 Telecopy: (617) 574-6977 
  
 Oasis Gas Partners LLC 
 c/o Stephens Group,
Inc. 
 111 Center Street 
 Little Rock, AR 72203 
 Attention: Rick Turner 
 Telephone: (501) 377-2217 
 Telecopy: (501) 377-3453 
  
 Harvard Private Capital Properties III, Inc. 
 c/o Harvard Management Company, Inc. 
 600 Atlantic Ave 
 Boston, MA 02210 
 Attention: Megan Kelleher 
 Telephone: (617) 523-7698 
 Telecopy: (617) 878-6916 
  
 Greenhill Capital Partners, LLC 
 23rd Floor 
 300 Park Avenue 
 New York, NY 10022 
 Attention: Frank Pottow 
 Telephone: (212) 389-1515 
 Telecopy: (212) 389-1715 
  

 26 

 PH Energy LLC 
 The Pilot House 
 Lewis Wharf 
 Boston, MA 02110 
 Attention: Benjamin A. Gomez 
 Telephone: (617) 854-3515 
 Telecopy: (617) 854-3111 
  
 WH Energy Investors, L.L.C. 
 13150 Coit Road, Suite 125 
 Dallas, Texas 75240 
 Telephone: (972) 671-1133 
 Telecopy: (972) 671-1134 
  
 The University of North Carolina at Chapel Hill 
         Foundation Investment Fund, Inc. 
 c/o UNC Management Company 
 308 West Rosemary St. 
 Suite 203 
 Chapel Hill, NC 27516 
 Attention: Mark Yusko 
 Telephone: (919) 962-2002 
 Telecopy: (919) 962-0180 
  
 Phillips Oil & Gas, Inc. 
 330 Marshall Street 
 Suite 300 
 Shreveport, LA 71101 
 Attention: Charles L. Williams 
 Telephone: (318) 222-1800 
 Telecopy: (318) 424-1257 
  
 Rainbow Investments Company 
 710 Buffalo St., Suite 800 
 Corpus Christi, TX 78401 
 Attention: Dwayne Herbst 
 Telephone: (361) 882-8407 
 Telecopy: (361) 882-9210 
  

 27

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