Document:

Form of Note

  
 Exhibit 4.2

  

	[*]	The asterisk denotes that confidential portions of this exhibit have been omitted in reliance on Rule 24b-2 of the Securities Exchange Act of 1934. The confidential
portions have been submitted separately to the Securities and Exchange Commission. 

 EXHIBIT A 

[FORM OF NOTE] 
 ENCORE CAPITAL GROUP, INC. 
 7.75% SENIOR SECURED NOTE DUE SEPTEMBER 17,
2017 
  

			
	 No. [___]
	 	[Date]
	 $[            ]
	 	PPN: [*]

 FOR VALUE
RECEIVED, the undersigned, ENCORE CAPITAL GROUP, INC. (herein called the “Company”), a company organized and existing under the laws of Delaware, hereby promises to pay to
[                    ], or registered assigns, the principal sum of
[                    ] DOLLARS (or so much thereof as shall not have been prepaid) on September 17, 2017, with interest (computed on the
basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof at the rate of 7.75% per annum from the date hereof, payable at maturity and quarterly, on the 17th day of each March, June, September and December in each
year, commencing with the March 17, June 17, September 17 or December 17 next succeeding the date hereof until the principal hereof shall have become due and payable, and (b) at a rate per annum from time to time
equal to the greater of (i) 9.75% and (ii) 2% over the rate of interest publicly announced by JPMorgan Chase Bank from time to time in New York, New York as its “base” or “prime” rate (A) on any overdue payment of
interest, and (B) following the occurrence and during the continuance of an Event of Default on the unpaid principal balance, any overdue payment of interest and any overdue payment of any Make-Whole Amount, in the case of this clause (b),
payable at maturity and quarterly as aforesaid (or, at the option of the registered holder hereof, on demand). 
 Payments of
principal of, interest on and any Make-Whole Amount with respect to this Note are to be made in lawful money of the United States of America at JPMorgan Chase Bank, New York, New York or at such other place as the holder hereof shall designate to
the Company in writing as provided in the Agreement referred to below. 
 This Note is one of a series of senior secured notes
(herein called the “Notes”) issued pursuant to a Senior Secured Note Purchase Agreement, dated as of September 20, 2010 (as from time to time amended, amended and restated, supplemented or otherwise modified, the
“Agreement”), between the Company, on the one hand, and the other Persons party thereto, on the other hand, and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its acceptance hereof, to have
(i) agreed to the confidentiality provisions set forth in Section 20 of the Agreement, and (ii) made the representation set forth in Section 6.2 of the Agreement. Unless otherwise indicated, capitalized terms used in this Note
shall have the respective meanings ascribed to such terms in the Agreement. 
 This Note is a registered Note and, as provided
in the Agreement, upon surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer duly executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a
replacement Note for a like principal amount will be issued to, and registered in the 
  

	[*]	The asterisk denotes that confidential portions of this exhibit have been omitted in reliance on Rule 24b-2 of the Securities Exchange Act of 1934. The confidential
portions have been submitted separately to the Securities and Exchange Commission. 

  

 name of, the transferee. Prior to due presentment for registration of transfer, the Company may treat the
person in whose name this Note is registered as the owner hereof for the purpose of receiving payment and for all other purposes, and the Company will not be affected by any notice to the contrary. 

The Company will make required prepayments of principal on the dates and in the amounts specified in the Agreement. This Note is also
subject to optional prepayment, in whole or from time to time in part, at the times and on the terms specified in the Agreement, but not otherwise. 
 This Note is secured by, and entitled to the benefits of, the Collateral Documents. Reference is made to the Collateral Documents for the terms and conditions governing the collateral security for the
obligations of the Company hereunder. 
 If an Event of Default occurs and is continuing, the principal of this Note may be
declared or otherwise become due and payable in the manner, at the price (including any applicable Make-Whole Amount) and with the effect, provided in the Agreement. 
 This Note shall be construed and enforced in accordance with, and the rights of the parties shall be governed by, the law of the State of New York excluding choice-of-law principles of the law of such
state that would permit the application of the laws of a jurisdiction other than such state. 
  

			
	ENCORE CAPITAL GROUP, INC.
		
	By:	 	 
		 	Name:
		 	Title:

  
 2Specimen Common Stock Certificate

  
 Exhibit 4.1

 TRIANGLE PETROLEUM CORPORATION 
 INCORPORATION UNDER THE LAWS OF THE STATE OF NEVADA 
 AUTHORIZED SHARES
$0.00001 PAR VALUE 
  

					
	NUMBER	 	SHARES	 	
		 	CUSIP	 	
		 	See Reverse	 	
		 	For Certain Definitions	 	

 THIS CERTIFIES THAT 
 Is The Owner of 
 FULLY PAID AND NON-ASSESSABLE SHARES OF $0.00001 PAR VALUE COMMON STOCK OF

 TRIANGLE PETROLEUM CORPORATION 
 Transferable only on the books of the Company in person or by duly authorized attorney upon surrender of this Certificate properly endorsed. This Certificate is not valid unless countersigned by the
Transfer Agent and Registrar. 
 IN WITNESS WHEREOF, the said Company has caused this Certificate to be executed by the facsimile signatures of
its duly authorized officers and to be sealed with the facsimile seal of the Company. 
  

					
	Dated:	  		  	
			
	 	  		  	 
	Secretary	  	        SEAL	  	President

  
 1 

 TRIANGLE PETROLEUM CORPORATION 
 TRANSFER FEE: $                     PER NEW CERTIFICATE ISSUED 

The following abbreviations when used in the inscription on the face of this certificate, shall be construed as though they were written out in full
according to applicable law or regulations: 
 TEN COM—as tenants in common 
 TEN ENT—as tenants by the entireties 
 JT TEN—as joint tenants with right of survivorship
and not as tenants in common 
 UNIF GIFT MIN
ACT—                     Custodian
                     (Minor) under Uniform Gifts to Minors Act
                     (State) 

Additional abbreviations may also be used though not in the above list. 
 For Value Received,                      hereby sell, assign and transfer unto
                     (Please insert Social Security or other identifying number of Assignee). 

 

			
	 	 	

 (Please print or typewrite name and address, including zip code of Assignee) 

 
  

			
	 	 	
	 	 	
	 	 	Shares of the Common Stock represented by the within

Certificate, and do hereby irrevocably constitute and appoint
                             attorney-in-fact to transfer the said stock on the books of the
within-named Corporation, with full power of substitution in the premises. 
 Dated:
                     
  

	
	 
	Notice: The signatures to this Assignment must correspond with the name(s) as written upon the face of the certificate in every particular, without alteration or enlargement or any
change whatsoever.

  

	
	Signature(s) Guaranteed:
	
	 
	

 The signature(s) must be guaranteed by an eligible guarantor institution (Banks, Stockbrokers, Savings and Loan
Associations and Credit Unions with membership in an approved signature guarantee Medallion Program), pursuant to S.E.C. Rule 17Ad-15. 
  

 2Deferred Share Unit Agreement - Peter Hill

  
 Exhibit 10.12

 TRIANGLE PETROLEUM CORPORATION 
 DEFERRED SHARE UNIT AGREEMENT 
  

	1.	Agreement and Grant 

  

	 	1.1	This Deferred Share Unit Agreement (this “Agreement”) is entered into between Triangle Petroleum Corporation (the “Corporation”) and Peter Hill (the
“Executive”). 

  

	 	1.2	Effective the date hereof, the Corporation hereby grants 600,000 Deferred Share Units to the Executive on and subject to the terms set out in this Agreement.

  

	 	1.3	Following the restructuring of the Corporation’s Board of Directors and management team in 2009, the Corporation has granted the DSUs to the Executive in order to
incentivize and retain the Executive and to promote a greater alignment of interests between the Executive and the shareholders of the Corporation. 

  

	2.	Definitions 

  

	 	2.1	“Board of Directors” or “Board” means those individuals who serve from time to time as the directors of the Corporation. 

 

	 	2.2	“Code” means the United States Internal Revenue Code of 1986, as amended. 

 

	 	2.3	“Common Share” means share of common stock in the capital of the Corporation. 

 

	 	2.4	“Deferred Share Unit” or “DSU” means a unit credited by the Corporation to the Executive by way of a bookkeeping entry in the books of the
Corporation, as determined by the Board, pursuant to this Agreement, the value of which at any particular date shall be the Fair Market Value at that date. 

 

	 	2.5	“Fair Market Value” means, with respect to any particular date, the simple average closing price of the Common Shares as traded on the stock exchange on which
the highest aggregate volume of Common Shares have traded on each of the five trading days immediately preceding the particular date. 

  

	 	2.6	“U.S. Taxpayer” means a citizen or resident of the United States for United States federal income tax purposes. 

 

	3.	Vesting and Account 

  

	 	3.1	The DSUs referred to in Section 1 shall vest and be automatically exchanged on a one-for-one basis, for Common Shares from the treasury of the Corporation, equal
to the number of DSUs referred to in this Agreement, on February 2, 2011 (the “Vesting Date”). 

  

	 	3.2	The Corporation shall maintain in its books an account (the “DSU Account”) for the Executive, recording at all times, the number of DSUs standing to the
credit of the Executive. Upon the vesting of the DSUs and exchange for Common Shares as contemplated by the Agreement in satisfaction of the DSUs credited to the Executive, the DSUs shall be cancelled. 

 

	 	3.3	In the event of any stock dividend, stock split, combination or exchange of Common Shares, merger, consolidation, spin-off or other distribution (other than normal cash
dividends) of the Corporation’s assets to shareholders of the Corporation, or any other change affecting the Common Shares, such proportionate adjustments, if any, as the Board, in their discretion, may deem appropriate to reflect such change,
shall be made with respect to the number of DSUs outstanding under this Agreement. 

  

	4.	Termination or Death of the Executive 

  

	 	4.1	Where the Executive’s employment with the Corporation is terminated due to retirement, or voluntary resignation, or where the Executive’s employment is
terminated by the Corporation, the DSUs in the Executive’s DSU Account will be cancelled, effective immediately. 

  

	 	4.2	Where the Executive has died, the estate of the Executive may elect in writing to have the value of the DSUs in the Executive’s DSU Account become payable on
February 2, 2011. 

  

	 	4.3	In the event that the estate of the deceased Executive does not make an election in accordance with Section 4.2, the DSUs in the deceased Executive’s DSU
Account will be cancelled on February 2, 2011. 

  

	 	4.4	For purposes of determining how much is payable to the Executive’s estate in accordance with Section 4.2, the DSUs in the Executive’s DSU Account will be
valued by multiplying the number of such DSUs by the average of the closing prices of a Common Share on the TXS Venture Exchange on the five consecutive trading days ending with the trading day immediately prior to the date the DSUs become payable.

  

	 	4.5	If an election pursuant to Section 4.2 is made, the value of the deceased Executive’s DSUs in the DSU Account will be paid to the Executive’s estate, in
the form of Common Shares issued from the treasury of the Corporation, net of applicable withholdings, within 15 days of the date such amount becomes payable. 

  
 2 

  

	5.	Acknowledgement 

 The
Executive confirms and acknowledges that: 
  

	 	5.1	He has received and reviewed a copy of the terms of this Agreement and agrees to be bound by it. 

 

	 	5.2	Nothing herein contained shall be deemed to give him the right to be retained as an employee of the Corporation. 

 

	 	5.3	Under no circumstances shall the DSUs be considered Common Shares nor shall they entitle the Executive or any other person to exercise voting rights or have any other
rights (including, without limitations, dividend entitlement or rights on liquidation) attaching to the ownership of Common Shares, nor shall the Executive or any other person be considered the owner of Common Shares or any interest therein by
virtue of this Agreement. 

  

	 	5.4	He will not be able to cause the Corporation to redeem DSUs granted under this Agreement. 

 

	 	5.5	The value of DSUs is based on the value of the Common Shares of the Corporation and therefore is not guaranteed. 

 

	6.	Assignment 

  

	 	6.1	DSUs are not assignable or transferable, except as contemplated by this Agreement. 

 

	7.	Administration 

  

	 	7.1	This Agreement shall be administered by the Board. 

  

	 	7.2	This Agreement may be amended or terminated at any time by the Board, except as to rights already accrued to the Executive hereunder. 

 

	 	7.3	The Corporation will be responsible for all costs relating to the administration of this Agreement. 

 

	 	7.4	The total authorized number of Common Shares which may be issued from treasury under this Agreement is 600,000, or such other number as may be approved by the Board
and, if required, the shareholders of the Corporation. 

  
 3 

  

	8.	Canadian and U.S. Tax 

  

	 	8.1	This Agreement shall continuously meet the requirements of paragraph 6801(d) of the regulations under the Income Tax Act (Canada) or any successor to such
provision and the requirements of Section 409A of the Code, as they may apply to the Executive in the event he is a U.S. Taxpayer. If any provision of this Agreement contravenes any regulations or U.S. Treasury guidance promulgated under
Section 409A of the Code or would cause the DSUs to be subject to the interest and penalties under Section 409A of the Code, such provision of this Agreement shall, to the extent that it applies to the Executive, be modified to maintain,
to the maximum extent practicable, the original intent of the applicable provision without violating the provisions of Section 409A of the Code. 

  

	9.	Governing Law 

  

	 	9.1	This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada. 

 

	10.	Compliance with Law 

  

	 	10.1	Any obligation of the Corporation pursuant to the terms of this Agreement is subject to compliance with all applicable laws. The Executive shall comply with all
applicable laws and furnish the Corporation with any and all information and undertakings as may be required to ensure compliance therewith. 

  

	11.	Withholding 

  

	 	11.1	The Corporation shall be entitled to deduct any amount of withholding taxes and other withholding from any amount paid or credited hereunder. 

  
 4 

  
 IN WITNESS
WHEREOF the Corporation and the Executive have each executed this Agreement as of February 2, 2010. 
  

											
		 		 	TRIANGLE PETROLEUM CORPORATION
					
		 		 		 	By:	 	 
		 		 		 		 	Name:	 	
		 		 		 		 	Title:	 	
					
		 		 		 	By:	 	/s/    Jonathan Samuels
		 		 		 		 	Name:	 	Jonathan Samuels
		 		 		 		 	Title:	 	Chief Financial Officer
					
		 	 	 		 		 	/s/    Peter Hill
		 	Witness	 		 		 	Peter Hill

  
 5

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