Document:

AMENDED AND RESTATED

SUBORDINATION AGREEMENT

This AMENDED AND RESTATED SUBORDINATION AGREEMENT (hereinafter "Agreement") is entered into
and is effective this 16th day of May 2011 by and between BlueCrest Venture Finance Master Fund Limited, a Cayman Islands limited company,
PO Box 309, Ugland House, South Church Street, George Town, Cayman Islands (“BlueCrest”), and Magna Group, LLC (“Lender”).

RECITALS

A.  Lender is providing an unsecured term loan in the amount of
approximately $174,478.82 to Bioheart Inc. ("Debtor"), which is in addition to an existing note in the amount of $25,000 issued by Debtor
(collectively, the “Term Loan”). 

B.  BlueCrest has provided credit facilities or arrangements to Debtor,
including, without limitation, those facilities provided under that certain Amended and Restated Loan and Security Agreement, dated as October 25, 2010
 (as amended from time to time, the “Loan Agreement”) between BCF and Debtor (collectively, “BlueCrest Senior Debt”), and in connection
therewith has obtained a first position security interest in certain tangible and intangible assets of the Debtor and all cash and non-cash proceeds and
products thereof which are described on the attached Schedule A (“BlueCrest Collateral”). (Capitalized terms used herein and not otherwise defined
shall have the meanings ascribed to them in the Loan Agreement.)

C.  Lender and BlueCrest agree that Lender will subordinate its right to
repayment of the indebtedness and other obligations of Debtor to Lender under the Term Loan (“Subordinated Debt”) to the payment rights and further
that Lender and BlueCrest may extend or may continue to extend financing to Debtor in reliance on the priority of such payment rights and security interests as
set forth in this Agreement. 

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

1.  

Consent; Disclaimer of Interest; Subordination by Lender.  

(a)

BlueCrest consents to the Term Loan and the issuance by the Debtor of the note constituting the
Subordinated Debt, each on the terms and conditions approved by BlueCrest in its sole discretion.

(b)

Lender hereby disclaims any security interest, lien or claim which they may now or hereafter
have in the collateral of Debtor, including, without limitation, the BlueCrest Collateral.  

(c)

Except as set forth in Section 1(d) below, Lender hereby subordinates payment
by Debtor of the Subordinated Debt to the payment to BlueCrest, in full in cash, of all BlueCrest Senior Debt. Lender agrees not to ask for, demand, take or
receive payment in respect of all or any part of the Subordinated Debt, including any interest payable thereon or in respect thereof, or take any enforcement
action in respect thereof, unless and until all of the BlueCrest Senior Debt has been paid in full in cash and all obligations of BlueCrest to extend credit to
Debtor have been irrevocably terminated.  

(d)

The parties hereby acknowledge and agree that, notwithstanding Section 1(c)
above, Lender may accept from Debtor payments of principal and/or interest in respect of all or any portion of the Subordinated Debt provided that such payments
are made solely in shares of Debtor’s common stock and/or any other equity securities of Debtor which are exercisable for or convertible into shares of
Debtor’s common stock.  Further, nothing herein shall preclude the conversion of the Term Loan into common stock and/or other equity securities of the
Debtor pursuant to the terms and conditions of the Term Loan notes.

(e)

Lender represents and warrants that set forth on Schedule B attached hereto is
its complete legal name and address, and the outstanding principal amount of Subordinated Debt owing by Debtor to Lender as of the date hereof and that, except
for this Agreement, Lender has not executed any intercreditor agreements or 

subordination agreements with respect to the Subordinated Debt or the Debtor.  Lender
agrees that upon any distribution of the assets or readjustment of the indebtedness of Debtor by reason of liquidation, composition, bankruptcy, arrangement,
receivership, assignment for the benefit of creditors or any other similar action or proceeding (individually and collectively, a “Proceeding”),
BlueCrest shall be entitled to receive payment in full in cash of all of the BlueCrest Senior Debt prior to the payment of all or any part of the Subordinated
Debt.

(f)

All terms used and not otherwise defined herein which are defined in Article 9 of the Illinois Uniform
Commercial Code shall have the meanings assigned to them in Article 9 of the Illinois Uniform Commercial Code as in effect on the date of this Agreement.  

2.  

Extent of Subordination, The subordinations and priorities specified herein are applicable
irrespective of the time, manner or order of attachment or perfection of any security interests, liens or claims, or the time or order of filing of any
financing statements, or the giving or failure to give notice of the acquisition or expected acquisition of any purchase money security interests or other
security interests; provided, however, if, for any reason, a security interest, lien or claim of a party to which a security interest, lien or claim of the
other party is hereby subordinated is not perfected or is avoidable, then the subordination of such security interest, lien or claim of such other party shall
not be effective as to the particular collateral which is the subject of the unperfected or avoidable security interest, lien or claim.

3. 

Continuing Agreement. This Agreement shall constitute a continuing agreement of subordination.
 Subject to Section 6(b), the subordinations and priorities specified herein shall remain in full force and effect until all BlueCrest Senior Debt is paid
in full and all contractual commitments by BlueCrest to extend credit to Debtor have terminated.  Notwithstanding the foregoing, nothing herein shall
preclude any party, without notice to the other parties, from lending money, extending credit or providing other financial services to or on behalf of Debtor;
provided that any such loans, extensions of credit or other financial services by Lender shall be subordinated to the rights of BlueCrest as provided herein.
  This Agreement shall constitute the entire agreement between the parties with respect to the subject matter
hereof and shall not be amended except with the written consent of both Lender and BlueCrest. 

4. 

Payments Held in Trust.  In the event that Lender receives any
payment of any Subordinated Debt which at the time paid or received is in violation of or is prohibited under this Agreement, Lender shall:  (a) not
credit such payments against the Subordinated Debt, (b) promptly notify BlueCrest in writing thereof, and (c) receive the same in trust for BlueCrest
and promptly pay and deliver the same to BlueCrest in precisely the form received, except for any requisite endorsement or assignment, which Lender will make
and hereby authorizes BlueCrest or any of its officers or authorized employees to make in the event that Lender does not make the same; provided, however, that
BlueCrest consents to the payment by the Debtor of fees and expenses to Lender and its counsel in conjunction with the Term Loan, not to exceed $10,000 in the
aggregate.  BlueCrest will apply any such moneys so received by it to the BlueCrest Senior Debt and will hold any property other than money so received by
it as Collateral therefor.  

5.  

Waivers.  No delay on the part of Lender or BlueCrest in exercising any right, power or
privilege granted hereunder shall operate as a waiver thereof, and no purported waiver of any default, breach or violation of any term or provision contained
herein shall be deemed to be a waiver of such term or provision unless the waiver is in writing and signed by the waiving party. No such waiver shall in any
event be deemed a waiver of any subsequent or other default, breach or violation. The rights or remedies herein expressly specified are cumulative and not
exclusive of any other rights or remedies which the parties would otherwise have.  Lender agrees that BlueCrest may at any time, and from time to time (a)
extend the time of payment of or renew the BlueCrest Senior Debt, (b) receive and hold security for the payment of the BlueCrest Senior Debt and enforce, waive,
release, fail to perfect, sell or otherwise dispose of any such security, or (c) make any agreement with Debtor or with any other party or person liable on the
BlueCrest Senior Debt, for the extension, renewal, payment, compromise, discharge or release thereof (in whole or in part), or for any modification of the terms
thereof or of any agreement between BlueCrest and Debtor or any such other party or person, without in any way impairing or affecting this Agreement.

6.  

Termination; Reinstatement. 

(a)

This Agreement may be terminated upon at least thirty (30) days prior written notice by one party to the
other. Notwithstanding the foregoing, no termination pursuant to Section 6(a) shall impair the rights or priorities created or acquired hereunder by either of
the parties prior to the effective date of the termination. The notice of termination and other notices given in connection with this Agreement shall be deemed
to have been given when 

received if personally delivered or sent by overnight courier or five (5) business days after deposit in the United States
mail, postage prepaid, addressed to each of Lender and to BlueCrest, with a copy to Debtor, at their respective offices set forth above, or to such other
address designated by such party by notice to the other. 

(b)

If BlueCrest is required in any Proceeding or otherwise to disgorge, turn over or otherwise pay to the estate of Debtor, because such amount was avoided or
ordered to be paid or disgorged for any reason, including without limitation because it was found to be a

 fraudulent or preferential

 transfer, any amount (a “Recovery”), whether received as proceeds of security, enforcement of any right of set-off or otherwise, then the BlueCrest
Senior Debt shall be reinstated to the extent of such Recovery and deemed to be outstanding as if such payment had not occurred and repayment in full of the
BlueCrest Senior Debt shall be deemed not to have occurred. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be
reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the
parties hereto.

(c)

If Lender is required in any Proceeding or otherwise to disgorge, turn over or otherwise pay to the estate of Debtor, because such amount was avoided or ordered
to be paid or disgorged for any reason, including without limitation because it was found to be a

 fraudulent or preferential

 transfer, any Recovery, whether received as proceeds of security, enforcement of any right of set-off or otherwise, then the Subordinated Debt shall be
reinstated to the extent of such Recovery and deemed to be outstanding as if such payment had not occurred and repayment in full of the Lender Subordinated Debt
shall be deemed not to have occurred. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and
effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto.

7.  

Independent Investigation.  Neither BlueCrest nor Lender shall be responsible to the other for
Debtor's solvency or condition (financial or otherwise), statements, representations or warranties (whether oral or written), the
validity, sufficiency or enforceability of the documents executed by Debtor or the validity, sufficiency, enforceability or priority of any security interests
granted by Debtor in connection therewith. Lender and BlueCrest have entered into their respective financing arrangements with Debtor based on their own
investigation, and neither has made any representation or warranty to the other with respect to the matters described in this paragraph, nor relied upon any
such representation or warranty by the other.

8.  

Successors and Assigns: Assignment. This Agreement shall be binding upon and inure to the benefit
of each of the parties hereto and their respective successors and assigns. References herein to each party shall be deemed to refer to such party and its
successors and assigns. No other person shall have or obtain any right, benefit, priority or interest under this Agreement. Any assignment by either party of
any security interest, lien or claim in any of the BlueCrest Collateral or any financing statement covering the same shall be subject to
this Agreement.

9.  

Attorneys' Fees and Costs.  In the event of any dispute between the parties arising in
relation to this Agreement, the prevailing party shall be entitled to recover all of its reasonable attorneys' fees and costs, in addition to all other sums to
which it may be entitled.

10.  

Governing Law. This Agreement shall be governed by and construed in accordance with the laws of
the State of Illinois (without giving effect to its laws of conflicts) and to the extent applicable, federal law.

11.

CONSENT TO JURISDICTION. LENDER AND BLUECREST EACH IRREVOCABLY AGREE THAT ALL ACTIONS OR
PROCEEDINGS IN ANY WAY ARISING OUT OF OR RELATED TO THIS AGREEMENT WILL BE LITIGATED IN COURTS HAVING SITUS IN CHICAGO, ILLINOIS.  LENDER AND BLUECREST
EACH HEREBY CONSENT AND SUBMIT TO THE JURISDICTION OF ANY COURT LOCATED WITHIN CHICAGO, ILLINOIS, WAIVES PERSONAL SERVICE OF PROCESS UPON IT, AND AGREE THAT ALL
SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL DIRECTED TO LENDER OR BLUECREST, RESPECTIVELY, AT THE ADDRESS STATED ON THE SIGNATURE PAGE HEREOF AND
SERVICE SO MADE WILL BE DEEMED TO BE COMPLETED UPON ACTUAL RECEIPT. 

12.

WAIVER OF JURY TRIAL.  BLUECREST AND
LENDER EACH WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS (A) UNDER THIS AGREEMENT OR ANY RELATED AGREEMENT OR
UNDER ANY AMENDMENT, 

INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN
THE FUTURE BE DELIVERED IN CONNECTION WITH THIS AGREEMENT OR (B) ARISING FROM ANY BANKING RELATIONSHIP EXISTING IN CONNECTION WITH THIS AGREEMENT, AND AGREES
THAT ANY SUCH ACTION OR PROCEEDING WILL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.  BLUECREST AGREES THAT IT WILL NOT ASSERT ANY CLAIM AGAINST LENDER
OR ANY OTHER PERSON INDEMNIFIED UNDER THIS AGREEMENT ON ANY THEORY OF LIABILITY FOR SPECIAL, INDIRECT, CONSEQUENTIAL, INCIDENTAL OR PUNITIVE DAMAGES.

13.  

Construction.  This Agreement shall not be construed more strictly against either party by
virtue of the preparation of this Agreement.  This Agreement may be executed in counterparts, each of which shall be an original and all of which shall
constitute one and the same Agreement.  This Agreement may be executed by fax or email.

[Remainder of page intentionally left blank.]

IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto.

BlueCrest:

BlueCrest Venture Finance Master Fund Limited 

acting by its duly appointed agent, BlueCrest Capital
Management Guernsey LP (acting through its Geneva branch) acting by its general partner, BlueCrest Capital Management Guernsey Limited

By: _/s/Cathy Kerridge

Name:Cathy Kerridge

Title: Director

PO Box 309, Ugland House

South Church Street

George Town, Cayman Islands

Attn:  General Counsel

With a copy:

c/o 225 West Washington Street, Suite 200

Chicago, IL   60606

Attn:  Mark King

Date: May 16, 2011

Lender:

Magna Group, LLC

By: /s/Joshua Sason

Name: Joshua Sason

Title: Managing Member

Address: Magna Group, LLC

5 Hanover Square, Suite 1604

New York, NY 10004

Date: May 16, 2011

[Signature page to Subordination Agreement]

JOINDER

The undersigned acknowledge the foregoing terms and conditions set forth in this Agreement
and consent to the terms hereof.

Debtor:

Bioheart, Inc.

By: /s/Mike Tomas

Name: Mike Tomas

Title: Chief Executive Officer

Date: May 16, 2011

SCHEDULE A

BLUECREST COLLATERAL

(i)

All Receivables;

(ii)

All Equipment;

(iii)

All Fixtures;

(iv)

All General Intangibles;

(v)

All Intellectual Property;

(vi)

All Inventory; 

(vii)

All Investment Property;

(viii)

All Deposit Accounts and Securities Accounts (other than the Aggregation
Account and the Payroll Account);

(ix)

All Cash;

(x)

All Documents;

(xi)

All other Goods and tangible and intangible personal property of Borrower,
whether now or hereafter owned or existing, leased, consigned by or to, or acquired by, Borrower and wherever located, and 

(xii)

to the extent not otherwise included, all Proceeds of each of the foregoing
and all accessions to, substitutions and replacements for, and rents, profits and products of each of the foregoing and all attachments, accessories,
accessions, replacements, substitutions, additions or improvements to any of the foregoing, wherever located and all products and proceeds of the foregoing
including without limitation proceeds of insurance policies insuring the foregoing and all books and records with respect thereto; 

(all of the foregoing personal property is hereinafter sometimes individually and sometimes collectively referred to as
“BlueCrest Collateral”). The foregoing BlueCrest Collateral relates solely to the assets of the Debtor.

SCHEDULE B

SCHEDULE OF LENDERS

Name/Address

Principal Amount of Notes Held

		
	

Magna Group, LLC

Magna Group, LLC

Magna Group, LLC

1120 Old Country Road, Suite 303

Plainview, NY  11803

Attn: Joshua Sason, Managing Member

Fax: 516.605.2226

	

$25,000

$34,750 

$139,728.82_

amended and restated ADVISORY AGREEMENT 

This Amended and Restated Advisory Agreement (this "Agreement"), dated as of May 23, 2011, is made and entered into by and among Seitel, Inc., a Delaware corporation ("Seitel"), Seitel Holdings, Inc., a Delaware corporation ("Parent" and, together with Seitel, the "Companies" and each a "Company"), ValueAct Capital Management, L.P., a Delaware limited partnership ("ValueAct Capital"), and Centerbridge Advisors II, L.L.C., a Delaware limited liability company ("Centerbridge Advisors" and, together with ValueAct Capital, the "Advisors" and each an "Advisor"). 

BACKGROUND

A.This Agreement is being entered into concurrently with the consummation of the transactions contemplated by the Stock Purchase Agreement, dated as of May 21, 2011 (the "Stock Purchase Agreement), by and between Parent, Centerbridge Capital Partners II, L.P., a Delaware limited partnership ("Centerbridge Capital") and Centerbridge Capital Partners SBS II, L.P., a Delaware limited partnership ("Centerbridge SBS" and, together with Centerbridge Capital, "Centerbridge").

B.Pursuant to the terms of the Stock Purchase Agreement, Centerbridge is acquiring 483,803 shares of common stock, par value $0.001, of Parent for an aggregate purchase price of $125,000,000 (the "Investment").

C.Concurrently with the closing of the Investment, Parent, ValueAct Capital, Centerbridge and certain management stockholders of Parent are entering into an Amended and Restated Securities Holders Agreement (the "Securities Holders Agreement"), dated as of the date hereof;

D.ValueAct Capital and the Companies are currently party to an Advisory Agreement, dated as of January 30, 2007, by and among the Companies and ValueAct Capital (the "Original Agreement").

E.In connection with the Investment, the Companies and ValueAct Capital wish to amend and restate in its entirety the Original Agreement in order to set forth herein certain agreements regarding the future relationships among the Companies and the Advisors, which agreements shall be effective from and after the closing of the Investment in accordance with the terms of the Stock Purchase Agreement.

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

1.  Term. This Agreement shall be in effect for an initial term of ten (10) years commencing on the effective date hereof (the "Term"), and shall be automatically extended thereafter on a year to year basis.  Ninety days prior to the expiration of the Term or any extension thereof, an Advisor may provide written notice to the other parties of its desire to terminate this Agreement, in which case the Agreement shall terminate with respect to that Advisor only.  This Agreement shall automatically terminate (i) in its entirety upon the consummation by Parent of its initial Public Offering (as defined in the Securities Holders Agreement), (ii) as to Centerbridge Advisors, on the date Centerbridge's Ownership Percentage (as defined in the Securities Holders Agreement) is less than 5%, and (iii) as to ValueAct Capital, on the date ValueAct Capital's Ownership Percentage is less than 5%.

2.  Services. Each Advisor shall perform or cause to be performed consulting, advisory, oversight and other services for the Companies and/or their subsidiaries in cooperation with the Company's executive officers and/or board of directors, and Parent shall perform or cause to be performed such services for Seitel and/or its subsidiaries as directed by Seitel's board of directors, which may include, without limitation, the following: 

(a) identification, support and analysis of acquisitions and divestitures; 

(b) support and analysis of financing alternatives, including, without limitation, in connection with acquisitions, capital expenditures and refinancing of existing indebtedness; 

(c) finance functions, including assistance in the preparation of financial projections, and monitoring of compliance with financing agreements; 

(d) human resource functions, including searching and hiring of executives; and 

(e) other services upon the mutual agreement of applicable parties. 

Notwithstanding any provision in this Agreement to the contrary, each of the parties hereto acknowledges and agrees that there are no minimum levels of services required to be provided to the Companies pursuant to this Agreement. 

3.  Expenses. 

(a) Seitel hereby agrees to pay to Parent, each Advisor or their respective affiliates the reasonable out-of-pocket expenses (including fees and disbursements of attorneys, accountants and other professionals and consultants retained by each Advisor, Parent or their respective affiliates) incurred by such Advisor, Parent or their respective affiliates and their respective personnel in connection with the performance of the services contemplated by this Agreement. Parent hereby agrees to pay to each Advisor or their respective affiliates the reasonable out-of-pocket expenses (including fees and disbursements of attorneys, accountants and other professionals and consultants retained by such Advisor or their respective affiliates) incurred by such Advisor, their respective affiliates and their respective personnel in connection with the performance for Parent of the services contemplated by this Agreement. 

(b) Delivery of Expenses. All expenses payable or otherwise reimbursable to an Advisor, Parent or their respective affiliates shall be payable promptly by wire transfer to an account designated in writing by such Advisor or Parent, as the case may be, or in such other manner as such Advisor or Parent shall specify. 

4.  Personnel. Each Advisor shall provide and devote to the performance of this Agreement such partners, employees and agents of such Advisor as such Advisor shall deem appropriate to the furnishing of the services requested. Parent shall provide and devote to the performance of this Agreement such partners, employees and agents of Parent as Parent shall deem appropriate to the furnishing of the services requested. 

5.  Liability. None of the Advisors, Parent nor any other Indemnitee (as defined in Section 6 below) shall be liable to any of the Companies or any of their subsidiaries or affiliates for any loss, liability, damage or expense arising out of or in connection with the performance of services contemplated by this Agreement, unless such loss, liability, damage or expense shall be proven to result directly from gross negligence, willful misconduct or bad faith on the part of such Indemnitee acting within the scope of such person's employment or authority. None of the Advisors nor Parent makes any representations or warranties, express or implied, in respect of the services to be provided by the Advisors, Parent or any of the other Indemnitees. Except as an Advisor or Parent may otherwise agree in writing as to such Advisor, after the date hereof: (i) each Advisor shall have the right to, and shall have no duty (contractual or otherwise) not to, directly or indirectly: (A) engage in the same or similar business activities or lines of business as any of the Companies or any of their subsidiaries, including those competing with any of the Companies or any of their subsidiaries and (B) do business with any client or customer of any of the Companies or any of their subsidiaries; (ii) neither the Advisors nor any officer, director, employee, member, partner, affiliate or associated entity thereof shall be liable to any of the Companies or any of their subsidiaries or affiliates for breach of any duty (contractual or otherwise) by reason of any such activities of or of such person's participation therein; and (iii) in the event that an Advisor acquires knowledge of a potential transaction or matter that may be a corporate opportunity for the Companies or any of their subsidiaries, on the one hand, and such Advisor, on the other hand, or any other person, neither of the Advisors shall have a duty (contractual or otherwise) to communicate or present such corporate opportunity to the Companies or any of their subsidiaries and, notwithstanding any provision of this Agreement to the contrary, shall not be liable to the Companies or any of their affiliates for breach of any duty (contractual or otherwise) by reasons of the fact that such Advisor directly or indirectly pursues or acquires such opportunity for itself, directs such opportunity to another person, or does not present such opportunity to the Companies. In no event will any of the parties hereto be liable to any other party hereto for any indirect, special, incidental or consequential damages, including lost profits or savings, whether or not such damages are foreseeable, or in respect of any liabilities relating to any third party claims (whether based in contract, tort or otherwise) other than indemnification for the Liabilities (as defined in Section 6 below) relating to the services to be provided by the Advisors or Parent hereunder. 

6.  Indemnity. 

(a) Each of the Companies and their subsidiaries shall defend, indemnify and hold harmless each of the Advisors, their respective affiliates, members, partners, directors, employees and agents (collectively, the "Indemnitees") from and against any and all loss, liability, damage or expenses (i) arising from any claim by any person with respect to, or (ii) in any way related to, the performance of services contemplated by this Agreement (including attorneys' fees) (collectively, "Liabilities") other than, with respect to an Indemnitee, for Liabilities which shall be proven to be the direct result of gross negligence, bad faith or willful misconduct by such Indemnitee. Each of the Companies and their subsidiaries shall defend at its own cost and expense any and all suits or actions (just or unjust) which may be brought against any such Company, any of its subsidiaries or any of the Indemnitees or in which any of the Indemnitees may be impleaded with others upon any Liabilities, or upon any matter, directly or indirectly, related to or arising out of this Agreement or the performance hereof by any of the Indemnitees, except that if such damage shall be proven to be the direct result of gross negligence, bad faith or willful misconduct by an Indemnitee, then the applicable Advisor shall reimburse the Companies and their subsidiaries for the costs of defense and other costs incurred by the Companies and their subsidiaries to the extent due to such gross negligence, bad faith or willful misconduct.  The Company agrees that it will not, without the prior written consent of the applicable Indemnitee, settle, compromise or consent to the entry of any judgment in any pending claim unless such settlement, compromise or consent includes unconditional releases of the applicable Indemnitee and each other Indemnitee from all Liabilities arising or that may arise out of such claim.

(b) Without limiting the generality of the foregoing, any Indemnitee entitled to indemnification, advancement of expenses and/or insurance, pursuant to this Agreement, the certificates of incorporation of the Companies or the bylaws of the Companies and that is an officer, employee, partner or advisor of either of the Advisors or their respective affiliates (each such person, a "Company Indemnitee"), may have certain rights to indemnification, advancement of expenses and/or insurance provided by or on behalf of the Advisors and/or their respective affiliates (collectively, the "Indemnitors").  Notwithstanding anything to the contrary in this Agreement, the certificates of incorporation of the Companies or the bylaws of the Companies or otherwise: (i) the Companies are the indemnitor of first resort (i.e., the Companies's obligations to each Company Indemnitee are primary and any obligation of the Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by each Indemnitee are secondary), (ii) the Companies will be required to advance the full amount of expenses incurred by each Company Indemnitee and will be liable for the full amount of all liabilities, expenses, judgments, penalties, fines and amounts paid in settlement to the extent legally permitted and as required by this Agreement, without regard to any rights each Company Indemnitee may have against the Indemnitors, and (iii) the Companies irrevocably waive, relinquish and release the Indemnitors from any and all claims against the Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof.  Notwithstanding anything to the contrary in this Agreement, the certificates of incorporation of the Companies or the bylaws of the Companies or otherwise, no advancement or payment by the Indemnitors on behalf of a Company Indemnitee with respect to any claim for which such Company Indemnitee has sought indemnification or advancement of expenses from the Companies will affect the foregoing and the Indemnitors will have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of such Company Indemnitee against the Companies.  The Indemnitors are express third party beneficiaries of the terms of this Section 6(b).

7.  Notices. All notices hereunder shall be in writing by hand-delivery, registered or certified first-class mail, fax or reputable courier guaranteeing overnight delivery to the other parties at the following addresses (or at such other address as shall be given in writing by any party to the others): 

To the Companies as appropriate: 

c/o Seitel, Inc. 

10811 S. Westview Circle Drive

Building C, Suite 100

Houston, TX 77043 

Facsimile: (713) 881-8901

Attention: Robert D. Monson 

with a required copy to:

Centerbridge Capital Partners II, L.P.

375 Park Avenue

12th Floor

New York, NY 10152

Facsimile: (212) 672-5001

Attention: Kyle Cruz

To ValueAct Capital: 

ValueAct Capital Management, L.P. 

435 Pacific Avenue, 4th Floor 

San Francisco, CA 94133 

Facsimile: (415) 362-5727 

Attention: Allison Bennington, General Counsel 

with a required copy to:

Dechert LLP

Cira Centre

2929 Arch Street

Philadelphia, PA 19104

Facsimile: (215) 994-2222

Attention: Christopher G. Karras

To Centerbridge Advisors: 

Centerbridge Capital Partners II, L.P.

375 Park Avenue

12th Floor

New York, NY 10152

Facsimile: (212) 672-5001

Attention: Kyle Cruz

with a required copy to:

Latham & Watkins LLP

885 Third Avenue

New York, NY 10022

Facsimile:  (212) 751-4864

Attention:  Howard Sobel and Jennifer Perkins

8.  Assignment. No party hereto may assign any rights or obligations hereunder to any other person without the prior written consent of the other parties hereto; provided, that neither of the Companies shall unreasonably withhold its consent to any assignment by an Advisor hereunder and an Advisor may, without consent of the Companies, assign its rights and obligations under this Agreement to any Permitted Transferee (as defined in the Securities Holders Agreement). 

9.  Successors. This Agreement and all the obligations and benefits hereunder shall inure to the successors and assigns of the parties. 

10.  Counterparts. This Agreement may be executed and delivered by each party hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original and all of which taken together shall constitute but one and the same agreement. 

11.  Entire Agreement; Modification; Governing Law. The terms and conditions hereof constitute the entire agreement between the parties hereto with respect to the subject matter of this Agreement and supersede all previous communications, either oral or written, representations or warranties of any kind whatsoever, except as expressly set forth herein. No modifications of this Agreement nor waiver of the terms or conditions thereof shall be binding upon either party unless approved in writing by an authorized representative of such party. All issues concerning this Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would cause the application of the law of any jurisdiction other than the State of New York. 

[Signature Page Follows]

IN WITNESS WHEREOF, the parties have executed this Amended and Restated Advisory Agreement as of the date first written above. 

SEITEL HOLDINGS, INC.

 

By: /s/ Gregory P. Spivy    

Name: Gregory P. Spivy

Title:

 

SEITEL INC.

By:  /s/ Marcia H. Kendrick

Name:  Marcia H. Kendrick

Title:

VALUEACT CAPITAL MANAGEMENT, L.P.

By:  ValueAct Capital Management, LLC, its General Partner

 

By: /s/ George F. Hamel, Jr.

Name: George F. Hamel, Jr.

Title:

 

 

 

 

 
CENTERBRIDGE ADVISORS II, L.L.C.

 

By: /s/ Jeffrey Gelfand

Name: Jeffrey Gelfand

Title:  Authorized Person

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00190-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00190-of-00352.parquet"}]]