Document:

EX-10.1

 Exhibit 10.1 

STOCK REPURCHASE AGREEMENT 

THIS STOCK REPURCHASE AGREEMENT, dated as of June 15, 2015 (this “Agreement”), is made by and among (i) Samson
Resources Corporation, a Delaware corporation (the “Company”), (ii) JD Rockies Resources Limited, a Delaware corporation (“Seller”) and (iii) ITOCHU Corporation, a corporation organized under the laws of
Japan (“Itochu”). Except as otherwise indicated, capitalized terms used herein are defined in Section 9 hereof. Terms used but not otherwise defined herein shall have the meaning set forth in the Stockholders Agreement.

 WHEREAS, Seller desires to sell to the Company, and the Company desires to repurchase from Seller, all of the Shares owned by Seller upon
the terms and conditions set forth herein. 
 WHEREAS, Seller intends to waive any rights to past, present or future Advisory Fees in
consideration of the Company’s agreement as contemplated herein. 
 WHEREAS, each of Toshiyuki Mori and Akihiro Watanabe will
permanently resign from its position of Director effective as of the Closing. 
 NOW, THEREFORE, in consideration of the mutual covenants
contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

Section 1. Sale of Common Stock. At the Closing, Seller will sell, transfer and assign to the Company, and the Company will
repurchase from Seller, [208,000,000] Shares (the “Purchased Shares”) for the aggregate cash purchase price of $1.00. 

Section 2. Waiver of Advisory Fees. Following the Closing, Seller agrees to irrevocably waive all rights to any outstanding or
future Advisory Fees pursuant the Consulting Agreement or any other arrangement. 
 Section 3. Closing. The closing of the
transactions contemplated by Section 1 (the “Closing”) will take place at the offices of Kirkland & Ellis LLP, 300 North LaSalle Street, Chicago, Illinois 60654 on the date hereof. At the Closing, (i) the
Company shall deliver to Seller $1.00 and (ii) Seller shall deliver to the Company a duly executed stock transfer, in the form attached hereto as Exhibit A, effecting the assignment and transfer of all of the Purchased Shares to the
Company. 
 Section 4. Termination of Rights; Indemnity. 

4.01 Adequacy of Consideration. The parties acknowledge and agree that the payment by the Company to Seller of $1.00 at the Closing and
the ongoing commitments by the Company to Seller hereunder together constitute full and complete payment for the Purchased Shares and all rights and attributes related thereto. 

4.02 Termination and Relinquishment of Rights. From and after the date hereof, neither Seller nor Itochu shall have any rights to
payments, returns and/or dividends, 

 
whether in cash or property, from the Company or any other person or entity in respect of the Purchased Shares or other securities, options, warrants, calls, subscriptions or other rights with
respect to the Capital Stock or other equity interests of the Company, except for any such rights that have accrued on or prior to the date hereof, whether by determination of the applicable record date or otherwise. In addition to the foregoing,
Seller and Itochu hereby acknowledge and agree that Seller’s right to designate any Director under the Stockholders Agreement shall terminate at Closing. Notwithstanding anything to the contrary herein, and for the avoidance of doubt, Seller,
on behalf of itself and its Affiliates, hereby waives any approval or consent rights over amendments to the Stockholders Agreement pursuant to Section 6.3 thereof, except to the extent that any such amendment would adversely affect the rights
of any Seller Indemnified Party hereunder or thereunder (to the extent arising out of or relating to Seller’s ownership of the Purchased Shares prior to the date hereof). 

4.03 Indemnification Under the Governing Documents and the Indemnification Agreement. The parties hereby agree and acknowledge that,
notwithstanding anything to the contrary contained herein, Seller and its Affiliates, and their respective directors, officers, managers, partners, members, employees, agents, advisors, consultants and representatives, including all Itochu
Designated Directors designated by Seller since the date of the Stockholders Agreement (collectively, the “Seller Indemnified Parties”), shall be entitled to indemnification and release for all acts, events or circumstances
occurring or arising on or prior to the date hereof to the fullest extent permitted by and pursuant to the Indemnification Agreement, the Stockholders Agreement and all other Governing Documents in effect as of the date hereof, and the Company shall
fulfill and satisfy such indemnity and release obligations under such Agreements, and the Company shall not take any actions that amend, modify or otherwise reduce the benefit of such protections under such agreements and shall maintain insurance
policies covering such matters substantially similar to, or not materially less favorable to the Seller Indemnified Parties than, the insurance policies covering such matters in effect as of the Closing during the twelve-month period immediately
following the Closing. Each Seller Indemnified Party shall have the right to enforce the provisions of this Section 4.03 and each such Governing Document or Indemnification Agreement (to the extent permitted under such Governing Document
or Indemnification Agreement), and is expressly deemed a third-party beneficiary for the purposes hereof. 
 Section 5. Seller
Representations and Warranties As a material inducement to the Company to enter into this Agreement, Seller hereby represents and warrants to the Company: 

5.01 Commitments. There are no commitments, options, contracts or other arrangements whatsoever, whether written or oral, under which
Seller is or may become obligated to sell, transfer, pledge, assign, convey or otherwise dispose of any of the Purchased Shares or any right or interest therein. 

5.02 Title. Seller has good and indefeasible title to the Purchased Shares, free and clear of all mortgages, pledges, charges, liens,
claims, encumbrances, other security arrangements, preferential arrangements or restrictions of any kind whatsoever (collectively, “Liens”). Pursuant to this Agreement, Seller will transfer to the Company good and indefeasible title
to the Purchased Shares free and clear of all Liens. Seller does not own any other Shares or any other equity interests in the Company other than the Purchased Shares. 

  
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 5.03 Authority. Seller has full power, right and authority to execute and deliver this
Agreement, to perform Seller’s obligations hereunder and to consummate the transactions contemplated hereby. The execution, delivery and performance of this Agreement by Seller and the consummation by Seller of the transactions contemplated
hereby have been duly authorized and approved by all necessary action on the part of Seller. 
 5.04 Enforceability. This Agreement
has been duly and validly executed by Seller, and, upon delivery hereof by Seller, will constitute a legally valid and binding obligation of Seller enforceable against Seller in accordance with its terms, except to the extent that such
enforceability may be subject to, and limited by, applicable bankruptcy, insolvency, reorganization, moratorium, receivership and similar laws affecting the enforcement of creditors’ rights generally, and general equitable principles. 

5.05 No Conflict. The execution, delivery and performance of this Agreement and the consummation by Seller of the transactions
contemplated hereby and compliance with the terms and provisions hereof, does not and will not: (a) conflict with, violate, result in the breach of, constitute a default under, give rise to any right of acceleration, cancellation or termination
of any material right or obligation under, or require any consent, approval, authorization or action or filing pursuant to, any agreement or other instrument to which Seller is a party or by which Seller or any of its properties or assets are bound;
or (b) violate or require any consent, approval, authorization or action or filing pursuant to, any code, statute, ordinance, rule, regulation, directive, order, decree, ruling, writ, injunction, judgment or other law or binding pronouncement
of any governmental authority applicable to Seller, or any of Seller’s properties or assets. 
 5.06 Litigation. There are no
claims, demands, actions, investigations, audits, suits, causes of action, arbitration proceedings or other proceedings pending, or to the knowledge of Seller, threatened or otherwise being asserted against Seller, which, directly or indirectly,
would reasonably be expected to have an adverse effect on the consummation of the transactions contemplated hereby. 
 5.07
Brokerage. No agent, broker, investment banker, intermediary, finder or firm acting on behalf of Seller will be entitled to any broker’s or finder’s fee or any other commission or similar fee, directly or indirectly, in connection
with the execution of this Agreement or upon consummation of the transactions contemplated hereby. 
 Section 6. Company
Representations and Warranties As a material inducement to Seller to enter into this Agreement, the Company hereby represents and warrants to Seller: 

6.01 Authority. The Company has full power, right and authority to execute and deliver this Agreement, to perform its obligations
hereunder and to consummate the transactions contemplated hereby. The execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby have been duly authorized and
approved by all necessary action on the part of the Company. 
 6.02 Enforceability. This Agreement has been duly and validly
executed by the Company, and, upon delivery hereof by the Company, will constitute a legally valid and binding 

  
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obligation of the Company enforceable against the Company in accordance with its terms, except to the extent that such enforceability may be subject to, and limited by, applicable bankruptcy,
insolvency, reorganization, moratorium, receivership and similar laws affecting the enforcement of creditors’ rights generally, and general equitable principles. 

6.03 No Conflict. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby and compliance with the terms and provisions hereof, does not and will not: (a) conflict with, violate, result in the breach of, constitute a default under, give rise to any right of acceleration, cancellation or termination
of any material right or obligation under, or require any consent, approval, authorization or action or filing pursuant to, any agreement or other instrument to which the Company is a party or by which the Company or any of its properties or assets
are bound; or (b) violate or require any consent, approval, authorization or action or filing pursuant to, any code, statute, ordinance, rule, regulation, directive, order, decree, ruling, writ, injunction, judgment or other law or binding
pronouncement of any governmental authority applicable to the Company, or any of the Company’s properties or assets. 
 6.04
Litigation. There are no claims, demands, actions, investigations, audits, suits, causes of action, arbitration proceedings or other proceedings pending, or to the knowledge of the Company, threatened or otherwise being asserted against the
Company or its Affiliates, which, directly or indirectly, would reasonably be expected to have an adverse effect on the consummation of the transactions contemplated hereby. 

6.05 Brokerage. No agent, broker, investment banker, intermediary, finder or firm acting on behalf of the Company will be entitled to
any broker’s or finder’s fee or any other commission or similar fee, directly or indirectly, in connection with the execution of this Agreement or upon consummation of the transactions contemplated hereby. 

Section 7. Indemnification for Breaches of Representations and Warranties. Seller hereby agrees to indemnify the Company and hold
it harmless from and against any and all claims, losses, damages, liabilities, judgments, fines, settlements, compromises, awards, costs, expenses or other amounts (including, without limitation, any reasonable attorney fees, expert witness fees or
related costs) arising out of or otherwise related to a breach of any of the representations and warranties of Seller set forth in Section 4. The Company hereby agrees to indemnify Seller and hold it harmless from and against any and all
claims, losses, damages, liabilities, judgments, fines, settlements, compromises, awards, costs, expenses or other amounts (including, without limitation, any reasonable attorney fees, expert witness fees or related costs) arising out of or
otherwise related to a breach of any of the representations and warranties of the Company set forth in Section 6. 

Section 8. Survival. All of the representations and warranties contained herein shall survive the execution and delivery of this
Agreement and the Closing hereunder, regardless of any investigation made by a party or on its behalf. 

  
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 Section 9. Definitions. 

“Advisory Fees” shall have the meaning set forth in the Consulting Agreement or otherwise. 

“Closing” shall have the meaning set forth in Section 3. 

“Governing Documents” means, collectively, the Stockholders Agreement, the Certificate of Incorporation, the bylaws of the
Company and any other agreement, contract or letter establishing any arrangement with respect to the Shares, corporate governance or any other related matters with respect to the Company. 

“Liens” shall have the meaning set forth in Section 5.02 

“Purchased Shares” shall have the meaning set forth in Section 1. 

“Seller Indemnified Parties” shall have the meaning set forth in Section 4.03. 

“Stockholders Agreement” means that certain Amended and Restated Stockholders’ Agreement dated as of January 25,
2012, among the Company, Samson Aggregator L.P., a Delaware limited partnership, the Seller and, solely for purposes of Section 6.5 thereto, ITOCHU Corporation, a corporation organized under the laws of Japan. 

Section 10. Miscellaneous. 

10.01 Amendments and Waivers. Except as otherwise provided herein, no modification, amendment or waiver of any provision hereof shall
be effective against the Company or Seller unless such modification, amendment or waiver is approved in writing by the Company and Seller. The failure of any party to enforce any provision of this Agreement or under any agreement contemplated hereby
shall in no way be construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and every provision of this Agreement and any agreement referred to herein in accordance with their terms. 

10.02 Assignment. This Agreement shall not be assignable by Seller without the prior written consent of the Company. The Company may
assign its rights and interests hereunder (i) to any of its Affiliates, so long as the Company remains liable hereunder, (ii) to any lender to the Company or any of its subsidiaries for purposes of collateral security, or (iii) to any
purchaser of all or any portion of its or its subsidiaries assets or businesses. This Agreement shall be binding upon and inure to the benefit of any successors and assigns of the Company and the permitted successors and assigns of Seller. 

10.03 Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable under any applicable law or rule in any jurisdiction, such provision will be ineffective only to the extent of such invalidity, illegality
or unenforceability in such jurisdiction, without invalidating the remainder of this Agreement in such jurisdiction or any provision hereof in any other jurisdiction. 

  
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 10.04 Counterparts. This Agreement may be executed simultaneously in two or more
counterparts, any one of which need not contain the signatures of more than one party, but all such counterparts taken together will constitute one and the same Agreement. 

10.05 Descriptive Heading. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of
this Agreement. 
 10.06 Governing Law. All issues concerning the enforceability, validity and binding effect of this Agreement shall
be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the
application of the law of any jurisdiction other than the State of Delaware. 
 10.07 Notices. All notices, demands or other
communications to be given or delivered under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given or made when (a) delivered personally to the recipient, (b) telecopied to the
recipient (with hard copy sent to the recipient by reputable overnight courier service (charges prepaid) that same day) if telecopied before 5:00 p.m. New York, New York, USA time on a business day, and otherwise on the next business day, or
(c) one business day after being sent to the recipient by reputable overnight courier service (charges prepaid). Such notices, demands and other communications shall be sent to the address or facsimile number set forth below: 

If to the Company: 
 Samson
Resources Corporation 
 Samson Plaza 

Two West Second Street 
 Tulsa,
Oklahoma 74103 
 Attn: Andrew Kidd 

Telecopy: (918) 591-7167 

With a copy to: 

Kirkland & Ellis LLP 

601 Lexington Avenue 
 New York,
New York 10022 
 Attn: Joshua A. Sussberg, P.C. 

Telecopy: (212) 446-6460 

If to the Seller: 
 JD
Rockies Resources Limited 
 1300 Post Oak Boulevard, Suite 1101 

Houston, Texas 77056 
 Attn:
Shuichi Arase, President 
 Telecopy: (713) 547-5656 

  
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 With a copy to: 

Milbank, Tweed, Hadley & McCloy LLP 

One Chase Manhattan Plaza 
 New
York, New York 10005 
 Attn: David J. Wolfson 

Telecopy: (212) 530-5219 

10.08 No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the
event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the
authorship of any of the provisions of this Agreement. 
 10.09 Electronic Delivery. This Agreement and any amendments hereto or
thereto, to the extent signed and delivered by means of a photographic, photostatic, facsimile or similar reproduction of such signed writing using a facsimile machine or electronic mail shall be treated in all manner and respects as an original
agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. At the request of any party hereto or to any such agreement or instrument, each other party
hereto or thereto shall re execute original forms thereof and deliver them to all other parties. No party hereto or to any such agreement or instrument shall raise the use of a facsimile machine or electronic mail to deliver a signature or the fact
that any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine or electronic mail as a defense to the formation or enforceability of a contract and each such party forever waives any such
defense. 
 10.10 No Third Party Beneficiaries. Except as set forth in Section 4.03, this Agreement shall not confer any
rights or remedies upon any Person other than the Company and Seller and their respective successors and permitted assigns. 
 10.11
WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY LITIGATION, ACTION, PROCEEDING, CROSS-CLAIM, OR COUNTERCLAIM IN ANY COURT (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) ARISING OUT OF,
RELATING TO OR IN CONNECTION WITH (i) THIS AGREEMENT OR THE VALIDITY, PERFORMANCE, INTERPRETATION, COLLECTION OR ENFORCEMENT HEREOF OR (ii) THE ACTIONS OF SUCH PARTY IN THE NEGOTIATION, AUTHORIZATION, EXECUTION, DELIVERY, ADMINISTRATION,
PERFORMANCE OR ENFORCEMENT HEREOF. 

*        *        *       
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 IN WITNESS WHEREOF, the parties hereto have executed this Stock Repurchase Agreement on the day
and year first above written. 
  

					
	JD ROCKIES RESOURCES LIMITED
		
	By:		 /s/ Shuichi Arase

			Name:		Shuichi Arase
			Title:		President
	
	ITOCHU CORPORATION
		
	By:		 /s/ Hisato Okubo

			Name:		Hisato Okubo
			Title:		 Deputy Chief Operating Officer
 Energy
Division

	
	SAMSON RESOURCES CORPORATION
		
	By:		 /s/ Philip W. Cook

			Name:		Philip W. Cook
			Title:		Executive Vice President and Chief Financial Officer

 Signature Page to the Stock Repurchase Agreement 

 EXHIBIT A 

STOCK TRANSFER 
 FOR VALUE
RECEIVED, the undersigned hereby sells, assigns and transfers unto Samson Resources Corporation [208,000,000] Shares of Common Stock of Samson Resources Corporation, a Delaware company (the “Company”), standing in its name on the
books of the Company, and does hereby irrevocably constitute and appoint the any officer of the Company as attorney-in-fact (coupled with an interest) to transfer the said equity on the books of the Company and to take all necessary and appropriate
action to effect such transfer with full power of substitution in the premises. 
 Dated:
            ,          
  

					
	JD ROCKIES RESOURCES LIMITED
		
	By:		  

			Name:		
			Title:tenx_ex101.htm

EXHIBIT 10.1

 

FIRST AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT

 

THIS FIRST AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT (this “Amendment”), is made as of June 18, 2015, by and between Tenax Therapeutics, Inc., a Delaware corporation, with its principal place of business in North Carolina (the “Company”), and John P. Kelley (the “Executive”).

W I T N E S S E T H:

WHEREAS, the Company and the Executive previously entered into an Executive Employment Agreement, dated as of November 13, 2013 (the “Employment Agreement”), pursuant to which the Executive is currently employed as the Company’s Chief Executive Officer;

 

WHEREAS, the Company and the Executive desire to amend the Employment Agreement by entering into this Amendment; and

 

WHEREAS, Section 15 of the Employment Agreement provides that the Employment Agreement may be amended only by a written agreement executed by the parties.

 

NOW, THEREFORE, in consideration of the foregoing, of the mutual promises herein, and of other good and valuable consideration, including the compensation to be received by the Executive from the Company from time to time, and specifically the compensation to be received by the Executive described herein, the receipt and sufficiency of which the parties acknowledge, the Company and the Executive agree as follows:

 

	
1.  

	
Amendment of Employment Agreement.

	
(a)  

	
Section 5(a) of the Employment Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof:

 

“(a) Base Salary. Beginning on May 1, 2015, the Executive shall receive an annual salary of Four Hundred Thirty Thousand and 00/100 Dollars ($430,000) (less applicable withholdings) (“Base Salary”) payable in accordance with the payroll policies of the Company as such policies may exist from time to time or as otherwise agreed upon by the parties. The Board shall review, on an annual basis, the Executive’s salary and may increase or decrease such salary as the Board deems appropriate; provided, however, that any decrease shall only be effective if it is a result of an across-the-board decrease affecting all senior executives as a group.”

	
(b)  

	
Section 5(b) of the Employment Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof:

“(b) Bonuses. Each fiscal year during the Term, the Executive shall be entitled to an annual bonus the amount of which is based on percentage achievement of annual goals set by the Company, after consultation with the Executive, at the beginning of each fiscal year for such fiscal year (“Annual Bonus”), which achievement shall be determined as of the last day of such fiscal year. If the Executive achieves one hundred percent (100%) of the annual goals, the Annual Bonus shall be seventy-five percent (75%) of his Base Salary (“Target Bonus”). There is no cap on the Annual Bonus for exceeding one hundred percent (100%) of annual goals; for example, an achievement of two hundred percent (200%) of annual goals would result in an Annual Bonus equal to one hundred and fifty percent (150%) of his Base Salary. The Annual Bonus shall be paid in accordance with the Company’s regular bonus payment procedures, and, in all events, will be paid no later than sixty (60) days following the end of the fiscal year in which the Annual Bonus was earned. Except as otherwise set forth in Section 6(d)(ii)(C), in order to be eligible to receive the Annual Bonus, the Executive must be employed by the Company on the last day of the fiscal year in which the Annual Bonus was earned.”

2.           Effect on Employment Agreement.  Except as specifically provided herein, the Employment Agreement shall remain in full force and effect.

3.           Counterparts.  This Amendment may be executed in more than one counterpart, each of which shall be deemed an original, and all of which shall be deemed a single agreement.

4.           Construction.  This Amendment shall be construed and enforced in accordance with the laws of the State of North Carolina, without regard to the conflicts of laws principles thereof.

[Signature Page Follows]

 

  

  

  

IN WITNESS WHEREOF, the undersigned have duly executed this First Amendment to Executive Employment Agreement as of the date first above written.

 

	TENAX THERAPEUTICS, INC. 	 	 	EXECUTIVE	 
	 	 	 	 	 
	
/s/Michael B. Jebsen

	 	 	
/s/ John P. Kelley

	 
	
Name: Michael B. Jebsen 

	 	 	John P. Kelley	 
	
Title: Chief Financial Officer

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