Document:

Exhibit
10.1

 

MODSYS
INTERNATIONAL, LTD

 

March
28, 2016

 

Richard
Chance 

c/o
Modern Systems Corporation 600 University St., Suite 2409 Seattle, WA 98101,

 

Dear
Richard,

 

On
behalf of the Board of Directors (the"Board") of ModSys International, Ltd, a company incorporated in Israel (the"Parent")
and its subsidiaries including Modern Systems Corporation, a Delaware corporation ("MS-DEL"and collectively with the
Parent, the"Company"), I am pleased to share the following terms for employment:

 

1.             Position;
Role.

 

a.Officer
Role. You will continue to serve in a full-time capacity as Director of Finance until
April 15, 2016 and then as Chief Financial Officer for the Company. You will report to the Executive
Chairman of the Board. By signing this letter, you represent and warrant to the Company that you are under no contractual commitments
inconsistent with your obligations to the Company. You agree that to the best of your ability and experience you will at all times
loyally and conscientiously perform all of the duties and obligations of your role which are required of you under this letter
and to the reasonable satisfaction of the Company.

 

2.             Effective
Date; Term. The terms of this new offer will be effective as of the later of the date of this letter or the date it is executed
by you (referred to as "Effective Date") and ending on the first anniversary (the "Term"), unless sooner terminated
as required by the Company's Compensation Policy or under Paragraph 14 of this letter.

 

3.             Salary.
As a resident of the United States ("U.S.") you will be an employee of MS-DEL. In connection with your position
as Director of Finance, you will continue to be paid a cash salary at a rate of ten thousand eight hundred and thirty-four U.S.
Dollars ($10,834.00) until April 15, 2016 per month, prorated
for the actual period of employment which is equivalent to one hundred and thirty thousand U.S. dollars ($130,000.00) on an annualized
basis and payable pursuant to the Company's regular payroll policy ("Base Salary"). This is a salaried exempt position,
which is not subject to federal and state minimum wage and overtime laws. You will not be eligible to receive overtime pay for
hours worked in excess of 40 hours per workweek. After April 15, 2016, In Connection with your position as Chief Financial officer,
your base pay will be adjusted to one hundred and forty thousand US Dollars ($140,000) per year to be paid as a cash salary of
eleven thousand six hundred sixty-seven US dollars (11,667.00) per month, prorated for the actual period of employment.

  

     

     

    

 

MODSYS
INTERNATIONAL, LTD

 

4.             Bonus.

 

a.      
Yearly Performance Bonus. You will be eligible be eligible for two cash bonuses of $10,000 on September 30 and $15,000 on
December 31 at the recommendation of the Executive Chairman of the board with approval by the Compensation Committee of the board.

 

b.      
Bonus for Sale Transaction of Parent.

 

i.        
Subject to terms and conditions provided in this letter, consistent with Section 2.3.10 of the Company's Compensation Policy (Special
Bonus) and provided that you remain employed in your current position with the Company immediately prior to the consummation of
a Sale Transaction and provided further that the Sales Proceeds are no less than twenty-five million dollars ($25,000,000), you
shall have a contingent right to receive a payment equal to $50,000. If the Sales Proceeds are more than thirty.five million dollars
($35,000,000) then the bonus amount will be $100,000. .

 

ii.       
For this purposes of this Paragraph 4(b):

 

	 	1.	"Sale
    Proceeds" means the fair market value of the gross consideration received by the Company or its stockholders (e.g. cash,
    equity or a combination thereof) from a Sales Transaction; and

 

	 	2.	"Sales
    Transaction" means the sale or disposition of all or substantially all the Company's assets in one transaction from a
    third party or parties, taking into account such factors as the Board deems appropriate immediately prior to the consummation
    thereof.

 

5.            Restricted
Stock Units. The Compensation Committee will recommend to the Board that the Parent grant you an award of fifty thousand (50,000)
Restricted Share Units of Parent (the "2016 RSU Grant"). Subject to approval by the Board, the 2016 RSU Grant will be
granted on the first regularly scheduled grant date after the Effective Date. The 2016 RSU Grant will vest at any time after the
12 month anniversary of the date of grant, upon the earlier to occur of (i) a Sales Transaction or (ii) your termination of employment
by the Company for any reason other than for Breach of Trust (as defined in the SOA (as defined below)) and provided such termination
constitutes a "separation from service" (within the meaning of Treasury Regulation Section 1.409A-1(h)) (each a"Triggering
Event"), 1/20 of the RSUs will vest upon such Triggering Event for each full month of service, measured from the Effective
Date through the date of the Triggering Event.

 

Following
vesting of the foregoing RSUs, you will receive one ordinary share of MDSY as payment for each vested RSU (subject to tax withholding).

 

6.            Benefits;
Vacation Et Holidays. You will be eligible for all standard Company benefits, including health, dental, vision, life and disability
insurance. Health, dental, and vision insurance, 401(k) retirement savings plan and life insurance will be effective the first
day of the first of the month following eligible employment, Disability insurance will be effective on the first of the month
following ninety (90) days of benefit eligible employment. Employee matching for 401(k) contributions will be based on the Company's
then-current plan documents. Your grant of four (4) weeks of vacation per year, accruing at a rate of six and two-thirds (6.67)
hours per payroll period, will begin on your date of hire. In addition, U.S. employees observe eleven (11) standard holidays and
are given four (4) "floating" holidays. Company holidays are subject to change. Scheduling of vacation and personal
time should be arranged between you and the Board.

 

    	 	2	 

     

    

 

MODSYS
INTERNATIONAL, LTD

 

7.             Withholding
Taxes. All forms of compensation referred to in this letter are subject to applicable withholding and payroll taxes.

 

8.             Proprietary
Information and Inventions Agreement. As a condition of your employment, you will be required to sign our Parent's standard
Proprietary Information and Inventions Agreement for employees ("PIIA"), a copy of which is attached. It is fundamental
policy of the Company that it does not hire employees or consultants in order to obtain access to trade secrets or proprietary
information of any of their former employers. By accepting this job offer, you represent that (i) you will not violate the terms
of any non-competition, non-disclosure and non-solicitation agreements to which you may be bound by any prior employer and (ii)
you will not use any files or materials in connection with your employment with the Company that are trade secrets of or proprietary
information to another firm. Further, you acknowledge and agree to the restrictive covenants and other provisions set forth in
the PIAA during your employment and thereafter as provided, the terms of which are fully incorporated herein.

 

9.             Outside
Activities. While you render services to the Company, you will not engage in any other gainful employment, business or activity
without the written consent of the Company, which consent will not be unreasonably withheld. While you render services to the
Company, you also will not assist any person or organization in competing with the Company, in preparing to compete with the Company
or in hiring any employees of the Company.

 

10.           No
Conflicts. You represent that your performance of all the terms of this letter agreement will not breach any other agreement
to which you are a party.

 

11.           Contingencies.
Your acceptance of this offer, commencement and continuation of employment with the Company is and remains contingent upon
the successful completion and satisfactory outcome of a background, reference, drug/alcohol and credit check, as determined at
the sole discretion of the Company; your submission of proof, satisfactory to the Company, of your identity and your legal authorization
to work in the United States (if you fail to submit this proof, federal law prohibits us from hiring you), and the execution and
delivery of the PI IA to an officer of the Company.

 

12.            Employment
at Will. Your employment with the Company will be "at will," meaning that either you or the Company will be entitled
to terminate your employment at any time and for any reason, with or without cause. You will not be entitled to receive any payments
under this letter or any policy or plan of Company as in effect from time to time that provides for payment of amounts on termination
of employment other than any and all previously earned, but as of yet unpaid, salary, and reimbursement of business expenses and
fringe benefits as of yet unpaid, by reason of Company electing not to renew or extend the terms provided for herein.

 

13.           Termination
of Employment.

 

a.
      Voluntary Termination by You. At any time during the Term, you may terminate employment
hereunder by giving the Company thirty (30) days' prior written notice of the effective date of your last day of employment ("Employee
Notice Period"). During the Employee Notice Period you will
be entitled to the same benefits including vesting as you had in place prior to such notice (except
for (i) Early Termination (as defined below), (ii) a Breach of trust or (iii) as otherwise provided for in an agreement
for the 2015 RSU Grant). The Company may, in its sole discretion, waive all or any part of the Employee
Notice Period and consider your termination effective on any such earlier date as it determines. Also, the Company may, in its
sole discretion, remove you from any assigned duties, assign you to other duties, or require you to remain away from its offices,
during all or any part of the Employee Notice Period or elect to accelerate your Base Salary for the remainder of the Employee
Notice Period and pay it to you in lieu thereof through the Company's standard payroll process. In no event shall the payments
made in connection with the Employee Notice Period continue beyond your last day of employment if you voluntary elect to terminate
early ("Early Termination") or exceed the amount that you would have received had your employment continued through
expiration of the Term.

 

    	 	3	 

     

    

 

MODSYS
INTERNATIONAL, LTD

 

b.      Termination
for Convenience During the Term. The Company may terminate your employment here under for convenience at any time
during the Term of this Agreement by giving you sixty (60) days' written notice ("Employer Notice
Period") provided, however, the Company may, in its sole discretion, remove you from any assigned duties, mutually agree
on other duties, or require you to remain away from its offices, during all or any part of the Employer Notice Period or
elect to accelerate your Base Salary for the remainder of the Employer Notice Period and pay it to you in lieu thereof
through the Company's standard payroll process. In no event shall the payments made in connection with the Employer Notice
Period exceed the amount that you would have received had your employment continued through expiration of the Term. For the
sake of clarity all vesting will continue during the Employer Notice Period except (i) for Early Termination, (ii) for a
Breach of Trust or (iii) as otherwise provided for in an agreement for the 2016 RSU Grant.

 

c.       Other Obligations. A termination of employment pursuant to this Paragraph 14 will not affect any rights that you may have
pursuant to any agreement, policy, plan, program or arrangement of Company providing employee benefits, which rights will
be governed by the terms thereof, including the SOA and Plan; provided that to the extent that you are eligible to receive payments
or benefits by reason of termination of employment pursuant to any other severance agreement or employee plan (collectively, "Other
Severance Agreements"), the amounts otherwise receivable under Paragraph 14 will be reduced by the amounts actually paid
and benefits actually provided pursuant to the Other Severance Agreements, but not below zero, to avoid duplication of payments
so that the total amount payable or value of benefits receivable hereunder and under the Other Severance Agreements is not any more
or less than the amounts so payable or value so receivable had such benefits been paid in full under the arrangement that provides
the greatest total payments and benefits.

 

14.          Remedies.
In addition to any other remedies provided, the parties agree that compliance with Paragraphs 9 and 14(a) of this
Agreement and the PI IA are necessary to protect the business and goodwill of Company, and that any breach of such
Paragraphs and the PI IA will result in irreparable and continuing harm to Company, for which monetary damages may not
provide adequate relief. Accordingly, in the event of any actual or threatened breach of Paragraphs 9 and 14(a) and the PI IA
by you, Company and you agree that (i) Company shall be entitled to all appropriate remedies, including but not limited to
temporary restraining orders and injunctions enjoining or restraining such actual or threatened breach and (ii) Company may
cease providing consideration provided to you under this letter. Executive here by consents to the issuance of an injunction
by any court of competent jurisdiction, without the need for posting any bond. Withholding Authorization. In addition to
any remedies set forth in this letter, to the fullest extent permitted under the laws of the State of Employment, you
authorize Company to withhold from any severance payments otherwise due to you and from any other funds held for your benefit
by Company, any damages or losses sustained by Company as a result of any material breach or other material violation of
this Agreement by Executive, pending resolution of the underlying dispute.

 

    	 	4	 

     

    

 

MODSYS
INTERNATIONAL, LTD

 

15.           Amendment. This letter agreement may not be amended or modified except by an express written agreement signed byyou and
a duly authorized officer of the Company.

 

16.           Entire
Agreement. This letter contains all of the terms of your employment with the Company and supersedes any prior
understandings or agreements, whether oral or written, between you and the Company, except as documented in this letter. It
is specifically understood and accepted that this letter supersedes all oral and written employment offers and agreements
between you and the Company as well as all conflicting provisions of Company's human resources and other policies set by the
Company. Notwithstanding the foregoing, your confidentiality and other restrictive covenant obligations, as set forth herein,
are in addition to, and not in limitation or substitution of, any similar or related obligations under Company policy or
applicable law you have.

 

We
hope that you find the foregoing terms acceptable. This offer, if not accepted, will expire at the dose of business (PST) on March
30, 2016. Please indicate your acceptance of our offer by signing one copy of this letter and returning to our US
Headquarters at Modem Systems Corporation, 600 University St., Suite 2409, Seattle, WA 98101, or via email at
dfrench@modemsystems.com. Should you have any questions, please don't hesitate to contact me.

 

Yours
Sincerely,

  

	Modsys
    International, Ltd.	 
	 	 
	/s/
CARLA CORKERN	 
	By:	CARLA
    CORKERN	 
	Title:	CHAIR
    – COMPENSATION COMMITTEE	 
	 	 	 
	I
    HAVE READ AND ACCEPT THIS EMPLOYMENT OFFER:
	 	 	 
	/s/
    Richard T. Chance	 
	Richard
    T. Chance	 
	Date:	MARCH
29, 2016	 

 

 

 5EX-4.1

 Exhibit 4.1 

Execution Copy 

Rex Energy Corporation, 

as Issuer 
 the
Subsidiary Guarantors named herein 
 and 

Wilmington Savings Fund Society, FSB, 

as Trustee 
 Indenture

 Dated as of March 31, 2016 

1.00%/8.00% Senior Secured Second Lien Notes Due 2020 

Reference is made to the Intercreditor Agreement as defined herein. Each Holder of Notes, by its acceptance thereof and of the Subsidiary Guarantees
(a) consents to the provisions of the Intercreditor Agreement regarding the distribution of proceeds from realizing on Collateral, (b) agrees that it will be bound by, and will take no actions contrary to, the Intercreditor Agreement and
(c) authorizes and instructs the Trustee on behalf of each Holder of Notes to enter into the Intercreditor Agreement on behalf of the Holders of Notes. 

 TABLE OF CONTENTS 

 

							
	 ARTICLE 1 DEFINITIONS AND INCORPORATION BY REFERENCE
	  	 	1	  
			
	 Section 1.01.
	 	 Definitions
	  	 	1	  
	 Section 1.02.
	 	 Rules of Construction
	  	 	35	  
		
	 ARTICLE 2 THE NOTES
	  	 	35	  
			
	 Section 2.01.
	 	 Form, Dating and Denominations; Legends
	  	 	35	  
	 Section 2.02.
	 	 Execution and Authentication
	  	 	36	  
	 Section 2.03.
	 	 Registrar, Paying Agent and Authenticating Agent; Paying Agent to Hold Money in Trust
	  	 	37	  
	 Section 2.04.
	 	 Replacement Notes
	  	 	38	  
	 Section 2.05.
	 	 Outstanding Notes
	  	 	38	  
	 Section 2.06.
	 	 Temporary Notes
	  	 	39	  
	 Section 2.07.
	 	 Cancellation
	  	 	39	  
	 Section 2.08.
	 	 CUSIP and CINS Numbers
	  	 	39	  
	 Section 2.09.
	 	 Registration, Transfer and Exchange
	  	 	39	  
	 Section 2.10.
	 	 Restrictions on Transfer and Exchange
	  	 	43	  
		
	 ARTICLE 3 REDEMPTION
	  	 	44	  
			
	 Section 3.01.
	 	 Optional Redemption
	  	 	44	  
	 Section 3.02.
	 	 Redemption with Proceeds of Equity Issuance
	  	 	45	  
	 Section 3.03.
	 	 Method and Effect of Redemption
	  	 	45	  
		
	 ARTICLE 4 COVENANTS
	  	 	47	  
			
	 Section 4.01.
	 	 Payment of Notes
	  	 	47	  
	 Section 4.02.
	 	 Maintenance of Office or Agency
	  	 	47	  
	 Section 4.03.
	 	 Existence
	  	 	48	  
	 Section 4.04.
	 	 Payment of Taxes and Other Claims
	  	 	48	  
	 Section 4.05.
	 	 Maintenance of Properties and Insurance
	  	 	48	  
	 Section 4.06.
	 	 Incurrence of Indebtedness and Issuance of Preferred Stock
	  	 	48	  
	 Section 4.07.
	 	 Restricted Payments
	  	 	52	  
	 Section 4.08.
	 	 Limitation on Liens
	  	 	57	  
	 Section 4.09.
	 	 Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries
	  	 	57	  
	 Section 4.10.
	 	 Future Subsidiary Guarantees
	  	 	59	  
	 Section 4.11.
	 	 Offer to Repurchase upon a Change of Control
	  	 	60	  
	 Section 4.12.
	 	 Asset Sales
	  	 	62	  
	 Section 4.13.
	 	 Limitation on Transactions with Affiliates
	  	 	66	  
	 Section 4.14.
	 	 Designation of Restricted and Unrestricted Subsidiaries
	  	 	68	  
	 Section 4.15.
	 	 Reports
	  	 	68	  
	 Section 4.16.
	 	 Reports to Trustee
	  	 	70	  
	 Section 4.17.
	 	 Covenant Termination
	  	 	70	  
	 Section 4.18.
	 	 Limitation on Certain Offers to Exchange
	  	 	70	  

  
 i 

							
		
	 ARTICLE 5 CONSOLIDATION, MERGER OR SALE OF ASSETS
	  	 	71	  
			
	 Section 5.01.
	 	 Merger, Consolidation or Sale of Substantially All Assets
	  	 	71	  
	 Section 5.02.
	 	 Merger, Consolidation or Disposition of Substantially all Assets of Subsidiary Guarantor
	  	 	72	  
		
	 ARTICLE 6 DEFAULT AND REMEDIES
	  	 	73	  
			
	 Section 6.01.
	 	 Events of Default
	  	 	73	  
	 Section 6.02.
	 	 Acceleration
	  	 	75	  
	 Section 6.03.
	 	 Other Remedies
	  	 	76	  
	 Section 6.04.
	 	 Waiver of Past Defaults
	  	 	76	  
	 Section 6.05.
	 	 Control by Majority
	  	 	77	  
	 Section 6.06.
	 	 Limitation on Suits
	  	 	77	  
	 Section 6.07.
	 	 Rights of Holders
	  	 	77	  
	 Section 6.08.
	 	 Collection Suit by Trustee
	  	 	77	  
	 Section 6.09.
	 	 Trustee May File Proofs of Claim
	  	 	78	  
	 Section 6.10.
	 	 Priorities
	  	 	78	  
	 Section 6.11.
	 	 Restoration of Rights and Remedies
	  	 	78	  
	 Section 6.12.
	 	 Undertaking for Costs
	  	 	78	  
	 Section 6.13.
	 	 Rights and Remedies Cumulative
	  	 	79	  
	 Section 6.14.
	 	 Delay or Omission Not Waiver
	  	 	79	  
	 Section 6.15.
	 	 Waiver of Stay, Extension or Usury Laws
	  	 	79	  
		
	 ARTICLE 7 THE TRUSTEE
	  	 	79	  
			
	 Section 7.01.
	 	 General
	  	 	79	  
	 Section 7.02.
	 	 Certain Rights of Trustee
	  	 	80	  
	 Section 7.03.
	 	 Individual Rights of Trustee
	  	 	81	  
	 Section 7.04.
	 	 Trustee’s Disclaimer
	  	 	81	  
	 Section 7.05.
	 	 Notice of Default
	  	 	81	  
	 Section 7.06.
	 	 Reports by Trustee to Holders
	  	 	82	  
	 Section 7.07.
	 	 Compensation and Indemnity
	  	 	82	  
	 Section 7.08.
	 	 Replacement of Trustee
	  	 	83	  
	 Section 7.09.
	 	 Successor Trustee by Merger
	  	 	83	  
	 Section 7.10.
	 	 Eligibility
	  	 	84	  
	 Section 7.11.
	 	 Money Held in Trust
	  	 	84	  
	 Section 7.12.
	 	 Intercreditor Agreement and Registration Rights Agreement
	  	 	84	  
		
	 ARTICLE 8 DEFEASANCE AND DISCHARGE
	  	 	84	  
			
	 Section 8.01.
	 	 Satisfaction and Discharge
	  	 	84	  
	 Section 8.02.
	 	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	85	  
	 Section 8.03.
	 	 Legal Defeasance
	  	 	85	  
	 Section 8.04.
	 	 Covenant Defeasance
	  	 	86	  

  
 ii 

							
	 Section 8.05.
	 	 Conditions to Legal Defeasance or Covenant Defeasance
	  	 	87	  
	 Section 8.06.
	 	 Application of Trust Money
	  	 	88	  
	 Section 8.07.
	 	 Repayment to Company
	  	 	88	  
	 Section 8.08.
	 	 Reinstatement
	  	 	88	  
		
	 ARTICLE 9 AMENDMENTS, SUPPLEMENTS AND WAIVERS
	  	 	88	  
			
	 Section 9.01.
	 	 Amendments Without Consent of Holders
	  	 	88	  
	 Section 9.02.
	 	 Amendments with Consent of Holders
	  	 	89	  
	 Section 9.03.
	 	 Effect of Consent
	  	 	91	  
	 Section 9.04.
	 	 Trustee’s Rights and Obligations
	  	 	91	  
	 Section 9.05.
	 	 Conformity with Trust Indenture Act
	  	 	91	  
		
	 ARTICLE 10 GUARANTEES
	  	 	92	  
			
	 Section 10.01.
	 	 The Subsidiary Guarantees
	  	 	92	  
	 Section 10.02.
	 	 Execution and Delivery of Notation of Guarantee
	  	 	92	  
	 Section 10.03.
	 	 Subsidiary Guarantee Unconditional
	  	 	92	  
	 Section 10.04.
	 	 Discharge; Reinstatement
	  	 	93	  
	 Section 10.05.
	 	 Waiver by the Subsidiary Guarantors
	  	 	93	  
	 Section 10.06.
	 	 Subrogation and Contribution
	  	 	93	  
	 Section 10.07.
	 	 Stay of Acceleration
	  	 	94	  
	 Section 10.08.
	 	 Limitation on Amount of Subsidiary Guarantee
	  	 	94	  
	 Section 10.09.
	 	 Release of Subsidiary Guarantee
	  	 	94	  
		
	 ARTICLE 11 MISCELLANEOUS
	  	 	95	  
			
	 Section 11.01.
	 	 Trust Indenture Act of 1939
	  	 	95	  
	 Section 11.02.
	 	 Noteholder Communications; Noteholder Actions
	  	 	95	  
	 Section 11.03.
	 	 Notices
	  	 	96	  
	 Section 11.04.
	 	 Certificate and Opinion as to Conditions Precedent
	  	 	96	  
	 Section 11.05.
	 	 Statements Required in Certificate or Opinion
	  	 	97	  
	 Section 11.06.
	 	 Payment Date Other Than a Business Day
	  	 	97	  
	 Section 11.07.
	 	 Governing Law
	  	 	97	  
	 Section 11.08.
	 	 No Adverse Interpretation of Other Agreements
	  	 	97	  
	 Section 11.09.
	 	 Successors
	  	 	97	  
	 Section 11.10.
	 	 Duplicate Originals
	  	 	97	  
	 Section 11.11.
	 	 Separability
	  	 	97	  
	 Section 11.12.
	 	 Table of Contents and Headings
	  	 	97	  
	 Section 11.13.
	 	 No Liability of Directors, Officers, Employees, Incorporators, Members and Stockholders
	  	 	98	  
	 Section 11.14.
	 	 Waiver of Jury Trial
	  	 	98	  
	 Section 11.15.
	 	 USA Patriot Act
	  	 	98	  
	 Section 11.16.
	 	 Force Majeure
	  	 	98	  

  
 iii 

							
		
	 ARTICLE 12 COLLATERAL SECURITY
	  	 	98	  
			
	 Section 12.01.
	 	 Security Interest.
	  	 	98	  
	 Section 12.02.
	 	 Post-Issue Date Collateral Requirements.
	  	 	99	  
	 Section 12.03.
	 	 Further Assurances; Liens on Additional Property.
	  	 	100	  
	 Section 12.04.
	 	 Intercreditor Agreement
	  	 	101	  
	 Section 12.05.
	 	 Release of Liens in Respect of Notes
	  	 	101	  
	 Section 12.06.
	 	 Trustee.
	  	 	102	  

 EXHIBITS 
  

			
	EXHIBIT A	  	Form of Note
	EXHIBIT B	  	Form of Supplemental Indenture
	EXHIBIT C	  	Restricted Legend
	EXHIBIT D	  	DTC Legend
	EXHIBIT E	  	Regulation S Certificate
	EXHIBIT F	  	Rule 144A Certificate
	EXHIBIT G	  	Institutional Accredited Investor Certificate
	EXHIBIT H	  	Notation of Guarantee
	EXHIBIT I	  	Form of Intercreditor Agreement
	EXHIBIT J	  	Form of Registration Rights Agreement

  
 iv 

 THIS INDENTURE, dated as of March 31, 2016, is between and among REX ENERGY CORPORATION, a
Delaware corporation, as the Company, the Subsidiary Guarantors named on the signature page hereto, and WILMINGTON SAVINGS FUND SOCIETY, FSB, as trustee. 

RECITALS 
 The Company has
duly authorized the execution and delivery of this Indenture to provide for the issuance of up to $633,657,047 aggregate principal amount of the Company’s 1.00%/8.00% Senior Secured Second Lien Notes Due 2020, and, if and when issued, any
Additional Notes permitted to be issued under this Indenture, together with any Exchange Notes issued therefor as provided herein (collectively, the “Notes”). All things necessary to make this Indenture a valid agreement of the
Company, in accordance with its terms, have been done, and the Company has done all things necessary to make the Notes (in the case of the Additional Notes, when duly authorized), when executed by the Company and authenticated and delivered by the
Trustee and duly issued by the Company, the valid obligations of the Company as hereinafter provided. 
 This Indenture is subject to, and
will be governed by, the provisions of the Trust Indenture Act that are required to be a part of and govern indentures qualified under the Trust Indenture Act. 

THIS INDENTURE WITNESSETH 

For and in consideration of the premises and the purchase of the Notes by the Holders thereof, the parties hereto covenant and agree, for the
equal and proportionate benefit of all Holders, as follows: 
 ARTICLE 1 

DEFINITIONS AND INCORPORATION BY REFERENCE 

Section 1.01. Definitions. 

“Acquired Debt” means, with respect to any specified Person: 

(1) Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Subsidiary of such specified
Person, regardless of whether such Indebtedness is incurred in connection with, or in contemplation of, such other Person merging with or into, or becoming a Restricted Subsidiary of, such specified Person, but excluding Indebtedness which is
extinguished, retired or repaid in connection with such Person merging with or becoming a Subsidiary of such specified Person; and 
 (2)
Indebtedness secured by a Lien encumbering any asset acquired by such specified Person. 
 “Additional Assets” means: 

(1) any property or assets (other than Indebtedness and Capital Stock) to be used by the Company or a Restricted Subsidiary in a Related
Business; 

 (2) the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of the
acquisition of such Capital Stock by the Company or another Restricted Subsidiary; or 
 (3) Capital Stock constituting a minority interest
in any Person that at such time is a Restricted Subsidiary; 
  provided that, in the case of clauses (2) and (3), such Restricted
Subsidiary is primarily engaged in a Related Business. 
 “Additional Interest” means additional interest owed to Holders
pursuant to a Registration Rights Agreement. 
 “Additional Notes” means any Notes issued under this Indenture in addition
to the Original Notes, including any Exchange Note issued in exchange for such Additional Notes, having the same terms in all respects as the Original Notes, or in all respects except with respect to the issue date, issue price and the first
interest payment date after the issuance of such Additional Notes. 
 “Adjusted Consolidated Net Tangible Assets” means
(without duplication), as of the date of determination: 
 (a) the sum of: 

(i) discounted future net revenue from Proved Reserves of the Company and its Restricted Subsidiaries calculated in accordance
with Commission guidelines before any state or federal income taxes, as estimated in a reserve report prepared as of the end of the Company’s most recently completed fiscal year, which reserve report is prepared or reviewed by independent
petroleum engineers, as increased by, as of the date of determination, the discounted future net revenue of: 
 (A) estimated
Proved Reserves of the Company and its Restricted Subsidiaries attributable to acquisitions consummated since the date of such year-end reserve report, and 

(B) estimated Proved Reserves of the Company and its Restricted Subsidiaries attributable to extensions, discoveries and other
additions and upward determinations of estimates of Proved Reserves (including previously estimated development costs incurred during the period and the accretion of discount since the prior year end) due to exploration, development or exploitation,
production or other activities which reserves were not reflected in such year-end reserve report, in the case of the determination made under each of clauses (A) and (B) above, calculated in accordance with Commission guidelines (utilizing
the prices utilized in such year-end reserve report) before any state or federal income taxes, and decreased by, as of the date of determination, the discounted future net revenue attributable to: 

(C) estimated Proved Reserves of the Company and its Restricted Subsidiaries reflected in such year-end reserve report produced
or disposed of since the date of such year-end reserve report (before any state or federal income taxes), and 

  
 2 

 (D) reductions in the estimated Proved Reserves of the Company and its Restricted
Subsidiaries reflected in such year-end reserve report since the date of such year-end reserve report attributable to downward determinations of estimates of Proved Reserves due to exploration, development or exploitation, production or other
activities conducted or otherwise occurring since the date of such year-end reserve report, in each case calculated in accordance with Commission guidelines (utilizing the prices utilized in such year-end reserve report) before any state or federal
income taxes; 
 provided that, in the case of each of the determinations made pursuant to clauses (A) through (D), such
increases and decreases shall be as estimated by the Company’s engineers; 
 (ii) the capitalized costs that are
attributable to crude oil and natural gas properties of the Company and its Restricted Subsidiaries to which no Proved Reserves are attributed, based on the Company’s books and records as of a date no earlier than the date of the Company’s
latest annual or quarterly financial statements; 
 (iii) the Net Working Capital on a date no earlier than the date of the
Company’s latest annual or quarterly financial statements; and 
 (iv) the greater of (I) the net book value on a
date no earlier than the date of the Company’s latest annual or quarterly financial statements and (II) the appraised value, as estimated by independent appraisers within the immediately preceding 12 months, of other tangible assets of the
Company and its Restricted Subsidiaries (provided that the Company shall not be required to obtain such an appraisal of such assets if no such appraisal has been performed); 

minus 
 (b) to the extent not otherwise
taken into account in the immediately preceding clause (a), the sum of: 
 (i) minority interests; 

(ii) any net gas or other balancing liabilities of the Company and its Restricted Subsidiaries reflected in the Company’s
latest audited financial statements; 
 (iii) the discounted future net revenue, calculated in accordance with Commission
guidelines (utilizing the same prices utilized in the Company’s year-end reserve report) before any state or federal income taxes, attributable to reserves subject to participation interests, royalty interests, overriding royalty interests, net
profits interests or other interests of third parties, pursuant to participation, partnership, vendor financing or other agreements then in effect, or which otherwise are required to be delivered to third parties; 

  
 3 

 (iv) the discounted future net revenue, calculated in accordance with Commission
guidelines (utilizing the same prices utilized in the Company’s year-end reserve report) before any state or federal income taxes, attributable to reserves that are required to be delivered to third parties to fully satisfy the obligations of
the Company and its Restricted Subsidiaries with respect to Volumetric Production Payments on the schedules specified with respect thereto; and 

(v) the discounted future net revenue, calculated in accordance with Commission guidelines before any state or federal income
taxes, attributable to reserves subject to Dollar-Denominated Production Payments that, based on the estimates of production included in determining the discounted future net revenue specified in the immediately preceding clause (a)(i)
(utilizing the same prices utilized in the Company’s year-end reserve report), would be necessary to satisfy fully the obligations of the Company and its Restricted Subsidiaries with respect to Dollar-Denominated Production Payments on the
schedules specified with respect thereto. 
 If the Company changes its method of accounting from the successful efforts or a similar method to the full
cost method of accounting, Adjusted Consolidated Net Tangible Assets will continue to be calculated as if the Company were still using the successful efforts or a similar method of accounting. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of
the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,” “controlled by” and “under common control
with” have correlative meanings. 
 “Affiliate Transaction” has the meaning assigned to such term in
Section 4.13(a). 
 “Agent” means any Registrar, Paying Agent or Authenticating Agent. 

“Agent Member” means a member of, or a participant in, the Depositary. 

“Asset Sale” means: 

(1) the sale, lease, conveyance or other disposition of any assets or rights (including by way of a Production Payment or a sale and leaseback
transaction); provided that the sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company and its Restricted Subsidiaries taken as a whole will be governed by Section 4.11 and/or
Section 5.01 and not by Section 4.12; and 
 (2) the issuance of Equity Interests in any of the Company’s Restricted
Subsidiaries (other than directors’ qualifying shares) or the sale of Equity Interests held by the Company or its Restricted Subsidiaries in any of its Subsidiaries. 

  
 4 

 Notwithstanding the preceding, none of the following items will be deemed to be an Asset Sale:

 (1) any single transaction or series of related transactions that involves assets having a Fair Market Value of less than $10 million;

 (2) a transfer of assets between or among the Company and its Restricted Subsidiaries; 

(3) an issuance of Equity Interests by a Restricted Subsidiary to the Company or to a Restricted Subsidiary; 

(4) the sale, lease or other disposition of equipment, inventory, products, services, accounts receivable or other assets in the ordinary
course of business, including in connection with any compromise, settlement or collection of accounts receivable, and any sale or other disposition of damaged, worn-out or obsolete assets or assets that are no longer useful in the conduct of the
business of the Company and its Restricted Subsidiaries; 
 (5) the sale or other disposition of cash or Cash Equivalents, or the sale or
disposition of other financial assets in the ordinary course of business; 
 (6) a Restricted Payment that does not violate
Section 4.07; 
 (7) the consummation or disposition of a Permitted Investment; 

(8) a disposition of Hydrocarbons or mineral products inventory in the ordinary course of business; 

(9) the farm-out, lease or sublease of developed or undeveloped crude oil or natural gas properties owned or held by the Company or any
Restricted Subsidiary in exchange for crude oil and natural gas properties owned or held by another Person; 
 (10) the creation or
perfection of a Lien (but not, except as contemplated in clause (11) below, the sale or other disposition of the properties or assets subject to such Lien); 

(11) the creation or perfection of a Permitted Lien and the exercise by any Person in whose favor a Permitted Lien is granted of any of its
rights in respect of that Permitted Lien; 
 (12) the licensing or sublicensing of intellectual property, including, without limitation,
licenses for seismic data, in the ordinary course of business and which do not materially interfere with the business of the Company and its Restricted Subsidiaries; 

(13) surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of any kind; 

(14) any Production Payments and Reserve Sales; provided that all such Production Payments and Reserve Sales (other than incentive
compensation programs on terms that are reasonably customary in the oil and gas business for geologists, geophysicists and other 

  
 5 

 
providers of technical services to the Company or a Restricted Subsidiary) shall have been created, incurred, issued, assumed or Guaranteed in connection with the financing of, and within 90 days
after the acquisition of, the oil and gas properties that are subject thereto; 
 (15) the sale or other disposition (regardless of whether
in the ordinary course of business) of oil and gas properties; provided that, at the time of such sale or other disposition, such properties do not have attributed to them any Proved Reserves; 

(16) any abandonment, relinquishment, farm-in, farm-out, lease and sub-lease of developed and/or undeveloped properties made or entered into
in the ordinary course of business, but excluding any disposition as a result of the creation of a Production Payment and Reserve Sale; 

(17) any sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary; and 

(18) any assignment of Equity Interests in an entity pursuant to an agreement in effect on the Issue Date. 

“Asset Sale Offer” has the meaning assigned to such term in Section 4.12(c). 

“Attributable Indebtedness” in respect of a sale and leaseback transaction means, at the time of determination, the present
value of the obligation of the lessee for net rental payments during the remaining term of the lease included in such sale and leaseback transaction including any period for which such lease has been extended or may, at the option of the lessor, be
extended. Such present value shall be calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with GAAP. As used in the preceding sentence, the “net rental payments” under any
lease for any such period shall mean the sum of rental and other payments required to be paid with respect to such period by the lessee thereunder, excluding any amounts required to be paid by such lessee on account of maintenance and repairs,
insurance, taxes, assessments, water rates or similar charges. In the case of any lease that is terminable by the lessee upon payment of penalty, such net rental payment shall also include the amount of such penalty, but no rent shall be considered
as required to be paid under such lease subsequent to the first date upon which it may be so terminated. 
 “Authenticating
Agent” refers to a Person engaged to authenticate the Notes in the stead of the Trustee. 
 “Bank Product” means
each and any of the following bank services provided to the Company or any Restricted Subsidiary by any holder of any First Lien Obligations or any Affiliate thereof: (a) commercial credit cards, (b) stored value cards and
(c) Treasury Management Arrangements (including controlled disbursement, automated clearinghouse transactions, return items, overdrafts and interstate depository network services). 

“Bank Product Obligations” means any and all obligations of the Company or any Restricted Subsidiary, whether absolute or
contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor) in connection with any Bank Products. 

  
 6 

 “Bankruptcy Law” means any applicable federal, state or foreign bankruptcy,
insolvency, reorganization or other similar law. 
 “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3
and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to have
beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only after the passage of time or upon the
occurrence of a subsequent condition. The terms “Beneficially Owns,” “Beneficially Owned” and “Beneficially Owning” will have a corresponding meaning. 

“Board of Directors” means: 

(1) with respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on behalf of such
board; 
 (2) with respect to a partnership, the board of directors of the general partner of the partnership; 

(3) with respect to a limited liability company, the managers or managing member or members of such limited liability company (as applicable)
or any duly authorized committee of managers or managing members (as applicable) thereof; and 
 (4) with respect to any other Person, the
board of directors or duly authorized committee of such Person serving a similar function. 
 “Business Day” means any day
other than a Legal Holiday. 
 “Calculation Date” has the meaning assigned to such term in the definition of
“Fixed Charge Coverage Ratio.” 
 “Capital Lease Obligation” means, at the time any determination is to be
made, the amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP, and the Stated Maturity thereof shall be the date of the last payment of rent or any
other amount due under such lease prior to the first date upon which such lease may be prepaid by the lessee without payment of a penalty. 

“Capital Stock” means: 

(1) in the case of a corporation, corporate stock; 

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however
designated) of corporate stock; 
 (3) in the case of a partnership or limited liability company, partnership interests (whether general or
limited) or membership interests; and 
 (4) any other interest or participation that confers on a Person the right to receive a share of
the profits and losses of, or distributions of assets of, the issuing Person, but excluding from all of the foregoing any debt securities convertible into Capital Stock, regardless of whether such debt securities include any right of participation
with Capital Stock. 

  
 7 

 “Cash Equivalents” means: 

(1) United States dollars; 
 (2)
Government Securities having maturities of not more than one year from the date of acquisition; 
 (3) marketable general obligations issued
by any state of the United States of America or any political subdivision of any such state or any public instrumentality thereof maturing within one year from the date of acquisition thereof and, at the time of acquisition thereof, having a credit
rating of “A” or better from either S&P or Moody’s; 
 (4) certificates of deposit, demand deposit accounts and
eurodollar time deposits with maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case, with any domestic commercial bank having capital
and surplus in excess of $500 million and a Thomson Bank Watch Rating of “B” or better; 
 (5) repurchase obligations with a term
of not more than seven days for underlying securities of the types described in clauses (2), (3) and (4) above entered into with any financial institution meeting the qualifications specified in clause (4) above; 

(6) commercial paper having one of the two highest ratings obtainable from Moody’s or S&P and, in each case, maturing within one year
after the date of acquisition; and 
 (7) money market funds at least 95% of the assets of which constitute Cash Equivalents of the kinds
described in clauses (1) through (6) of this definition. 
 “Certificated Note” means a Note in registered
individual form without interest coupons. 
 “Change of Control” means: 

(1) any “person” or “group” of related persons (as such terms are used in Section 13(d) of the Exchange Act) is or
becomes a Beneficial Owner, directly or indirectly, of more than 50% of the total voting power of the Voting Stock of the Company (or its successor by merger, consolidation or purchase of all or substantially all of its properties or assets) (for
the purposes of this clause, such person or group shall be deemed to Beneficially Own any Voting Stock of the Company held by an entity, if such person or group Beneficially Owns, directly or indirectly, more than 50% of the voting power of the
Voting Stock of such entity); 
 (2) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of
merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its Restricted Subsidiaries taken as a whole to any “person” (as such term is used in
Section 13(d) of the Exchange Act); or 
 (3) the adoption or approval by the stockholders of the Company of a plan for the liquidation
or dissolution of the Company. 

  
 8 

 “Change of Control Offer” has the meaning assigned to such term in
Section 4.11(a). 
 “Change of Control Payment” has the meaning assigned to such term in Section 4.11(a). 

“Change of Control Payment Date” has the meaning assigned to such term in Section 4.11(a). 

“Collateral” means all Property wherever located and whether now owned or at any time acquired after the Issue Date by the
Company or any Subsidiary Guarantor as to which a Lien is granted under the Security Instruments to secure the Notes or any Guarantee of the Notes, which shall consist of all properties and assets subject to Liens securing the Credit Facilities
(except as may be set forth in the Security Instruments). 
 “Commission” means the Securities and Exchange Commission.

 “Company” means the party named as such in the first paragraph of this Indenture or any successor obligor under this
Indenture and the Notes pursuant to Article 5. 
 “Consolidated Cash Flow” means, with respect to any specified Person
for any period, the Consolidated Net Income of such Person for such period plus, without duplication: 
 (1) provision for taxes based on
income or profits of such Person and its Restricted Subsidiaries for such period, to the extent that such provision for taxes was deducted in computing such Consolidated Net Income; plus 

(2) the Fixed Charges of such Person and its Restricted Subsidiaries for such period, to the extent that such Fixed Charges were deducted in
computing such Consolidated Net Income; plus 
 (3) exploration and abandonment expense (if applicable) of such Person and its
Restricted Subsidiaries to the extent deducted in calculating Consolidated Net Income; plus 
 (4) depreciation, depletion,
amortization (including amortization of intangibles but excluding amortization of prepaid cash expenses that were paid in a prior period), impairment, other non-cash expenses and other non-cash items (excluding any such non-cash expense to the
extent that it represents an accrual of or reserve for cash expenses in any future period or amortization of a prepaid cash expense that was paid in a prior period) of such Person and its Restricted Subsidiaries for such period to the extent that
such depreciation, depletion, amortization, impairment and other non-cash expenses were deducted in computing such Consolidated Net Income; minus 

  
 9 

 (5) non-cash items of such Person and its Restricted Subsidiaries increasing such Consolidated
Net Income for such period, other than items that were accrued in the ordinary course of business, minus 
 (6) the sum of
(a) the amount of deferred revenues of such Person and its Restricted Subsidiaries that are amortized during such period and are attributable to reserves that are subject to Volumetric Production Payments and (b) amounts of such Person and
its Restricted Subsidiaries recorded in accordance with GAAP as repayments of principal and interest pursuant to Dollar-Denominated Production Payments; 

in each case, on a consolidated basis and determined in accordance with GAAP. Notwithstanding the preceding sentence, clauses (1) through
(6) relating to amounts of a Restricted Subsidiary of the referent Person will be added to Consolidated Net Income to compute Consolidated Cash Flow of such Person only to the extent (and in the same proportion) that the Net Income of such
Restricted Subsidiary was included in calculating the Consolidated Net Income of such Person and if a corresponding amount would be permitted at the date of determination to be dividended to the referent Person by such Restricted Subsidiary without
prior governmental approval (that has not been obtained), pursuant to the terms of its charter and all agreements, instruments, judgments, decrees, orders, statutes, rules and governmental regulations applicable to that Restricted Subsidiary or the
holders of its Capital Stock. 
 “Consolidated Net Income” means, with respect to any specified Person for any period, the
aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; provided that: 

(1) the Net Income (but not loss) of any Person that is not a Restricted Subsidiary or that is accounted for by the equity method of
accounting will be included only to the extent of the amount of dividends or similar distributions paid in cash to the specified Person or a Restricted Subsidiary of the Person; 

(2) the Net Income of any Restricted Subsidiary will be excluded to the extent that the declaration or payment of dividends or similar
distributions by that Restricted Subsidiary of that Net Income is not at the date of determination permitted without any prior governmental approval (that has not been obtained) or, directly or indirectly, by operation of the terms of its charter or
any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders, members or partners; 

(3) the cumulative effect of a change in accounting principles will be excluded; 

(4) any asset impairment writedowns on oil and gas properties under GAAP or Commission guidelines will be excluded; 

(5) any non-cash mark-to-market adjustments to assets or liabilities resulting in unrealized gains or losses in respect of Hedging Obligations
(including those resulting from the application of SFAS 133) shall be excluded; 
 (6) to the extent deducted in the calculation of Net
Income, any non-cash or other charges associated with any premium or penalty paid, write-off of deferred financing costs or other financial recapitalization charges in connection with redeeming or retiring any Indebtedness will be excluded; and 

  
 10 

 (7) any non-cash compensation charge arising from any grant of stock, stock options or other
equity-based awards will be excluded. 
 “Corporate Trust Office” means the office of the Trustee at which the corporate
trust business of the Trustee is principally administered, which at the date of this Indenture is located at Wilmington Savings Fund Society, FSB, 500 Delaware Avenue, Wilmington, DE 19801. 

“Credit Facility” or “Credit Facilities” means, with respect to the Company or any of its Restricted
Subsidiaries, one or more debt facilities (including, without limitation, the Senior Credit Agreement), commercial paper facilities or other Debt Issuances providing for revolving credit loans, term loans, receivables financing (including through
the sale of receivables to any lenders, other financiers or to special purpose entities formed to borrow from (or sell such receivables to) any lenders or other financiers against such receivables), letters of credit, bankers’ acceptances,
other borrowings or other Debt Issuances, in each case, as amended, restated, modified, renewed, extended, refunded, replaced or refinanced (in each case, without limitation as to amount), in whole or in part, from time to time. 

“Credit Facility Documents” means any agreement evidencing or under which is issued any Indebtedness that qualifies as
“Permitted Debt” under Section 4.06(b)(i) in respect of a Credit Facility and all mortgages, deeds of trust and security and other agreements entered into in connection therewith and the Intercreditor Agreement, as such documents and
agreements may be amended, modified, supplemented or restated from time to time. 
 “Currency Agreement” means in respect
of a Person any foreign exchange contract, currency swap agreement or other similar agreement as to which such Person is a party or a beneficiary. 

“Customary Recourse Exceptions” means, with respect to any Non-Recourse Debt of an Unrestricted Subsidiary, exclusions from
the exculpation provisions with respect to such Non-Recourse Debt for the voluntary bankruptcy of such Restricted Subsidiary, fraud, misapplication of cash, environmental claims, waste, willful destruction and other circumstances customarily
excluded by lenders from exculpation provisions or included in separate indemnification agreements in non-recourse financings. 

“Debt Issuances” means, with respect to the Company or any Restricted Subsidiary, one or more issuances after the Issue Date
of Indebtedness evidenced by loan agreements, notes, debentures, bonds or other similar securities or instruments. 

“Default” means any event which is, or after notice or passage of time or both would be, an Event of Default. 

“Depositary” means the depositary of each Global Note, which will initially be DTC. 

“Discharge of Notes Obligations” means (i) the payment in full in cash (except for contingent indemnities and cost and
reimbursement obligations to the extent no claim has been made) of all Notes Obligations or (ii) the satisfaction and discharge of all Notes Obligations with respect to this Indenture in accordance with Section 8.01 hereof. 

  
 11 

 “Disqualified Stock” means any Capital Stock that, by its terms (or by the terms
of any security into which it is convertible, or for which it is exchangeable, in each case at the option of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund
obligation or otherwise, or redeemable at the option of the holder of the Capital Stock (other than in exchange for Capital Stock that is not Disqualified Stock), in whole or in part, on or prior to the date that is 91 days after the date on which
the Notes mature. Notwithstanding the preceding sentence, any Capital Stock that would constitute Disqualified Stock solely because the holders of the Capital Stock have the right to require the Company to repurchase or redeem such Capital Stock
upon the occurrence of a Change of Control or an Asset Sale will not constitute Disqualified Stock if the terms of such Capital Stock provide that the Company may not repurchase or redeem any such Capital Stock pursuant to such provisions unless
such repurchase or redemption complies with Section 4.07. The amount of Disqualified Stock deemed to be outstanding at any time for purposes of this Indenture will be the maximum amount that the Company and its Restricted Subsidiaries may
become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions of, such Disqualified Stock, exclusive of accrued dividends. For purposes hereof, the maximum fixed repurchase price of any Disqualified Stock which
does not have a fixed repurchase price shall be calculated in accordance with the terms of such Disqualified Stock as if such Disqualified Stock were purchased on any date on which Indebtedness shall be required to be determined pursuant to this
Indenture, and if such price is based upon, or measured by, the fair market value of such Disqualified Stock, such fair market value to be determined in good faith by the Board of Directors of the issuer of such Disqualified Stock. 

“Dollar-Denominated Production Payments” means production payment obligations recorded as liabilities in accordance with
GAAP, together with all undertakings and obligations in connection therewith. 
 “Domestic Restricted Subsidiary” means any
Restricted Subsidiary that (a) was formed under the laws of the United States or any state of the United States or the District of Columbia or (b) Guarantees or otherwise provides direct credit support for any Indebtedness of the Company
or any Restricted Subsidiary (other than a Foreign Subsidiary). 
 “DTC” means The Depository Trust Company, a New York
corporation, and its successors. 
 “DTC Legend” means the legend set forth in Exhibit D. 

“Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any
debt security that is convertible into, or exchangeable for, Capital Stock). 
 “Equity Issuance” means (1) an
issuance for cash by the Company of its Capital Stock (other than Disqualified Stock), or options, warrants or rights with respect to its Capital Stock or (2) a cash contribution to the Company’s common equity capital from any Person. 

  
 12 

 “Event of Default” has the meaning assigned to such term in
Section 6.01. 
 “Excess Proceeds” has the meaning assigned to such term in Section 4.12(b).

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

“Exchange Notes” means the Notes of the Company issued pursuant to this Indenture in exchange for, and in an aggregate
principal amount equal to, the Initial Notes or any Initial Additional Notes in compliance with the terms of a Registration Rights Agreement and containing terms substantially identical to the Initial Notes or any Initial Additional Notes (except
that (i) such Exchange Notes will be registered under the Securities Act and will not be subject to transfer restrictions or bear the Restricted Legend and (ii) the provisions relating to Additional Interest will be eliminated).

 “Exchange Offer” means an offer by the Company to the Holders of the Initial Notes or any Initial Additional
Notes to exchange outstanding Notes for Exchange Notes, as provided for in a Registration Rights Agreement. 

“Exchange Offer Registration Statement” means the Exchange Offer Registration Statement, as defined in a Registration
Rights Agreement. 
 “Existing Indebtedness” means Indebtedness of the Company and its Subsidiaries (other
than Indebtedness under the Senior Credit Agreement, the Notes and the Subsidiary Guarantees and any other Indebtedness described as “Permitted Debt” under Section 4.06(b)(i) in existence on the Issue Date, until such amounts are
repaid. 
 “Fair Market Value” means the value that would be paid by a willing buyer to an unaffiliated
willing seller in a transaction not involving distress or necessity of either party. Fair Market Value of an asset or property in excess of $15 million shall be determined by the Board of Directors of the Company acting in good faith, whose
determination shall be conclusive and evidenced by a resolution of such Board of Directors, and any lesser Fair Market Value may be determined by an officer of the Company acting in good faith. 

“Farm-In Agreement” means an agreement whereby a Person agrees to pay all or a share of the drilling, completion or
other expenses of an exploratory or development well (which agreement may be subject to a maximum payment obligation, after which expenses are shared in accordance with the working or participation interests therein or in accordance with the
agreement of the parties) or perform the drilling, completion or other operation on such well in exchange for an ownership interest in an oil or gas property. 

“Farm-Out Agreement” means a Farm-In Agreement, viewed from the standpoint of the party that transfers an ownership
interest to another. 
 “First Lien Obligations” means the obligations of the Company and the Subsidiary
Guarantors under the Credit Facility Documents and the obligations of the Company and Subsidiary Guarantors that may be incurred under Section 4.06(b)(i). 

  
 13 

 “Fixed Charge Coverage Ratio” means with respect to any specified Person
for the four most recently completed fiscal quarters for which internal financial statements of such Person are available immediately preceding the date of determination, the ratio of the Consolidated Cash Flow of such Person for such period to the
Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, Guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness (other than
ordinary working capital borrowings) or issues, repurchases or redeems preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated and on or prior to the date on which the event for
which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such incurrence, assumption, Guarantee, repayment,
repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase or redemption of preferred stock, and the use of the proceeds therefrom, as if the same had occurred at the beginning of the applicable four-quarter
reference period. 
 In addition, for purposes of calculating the Fixed Charge Coverage Ratio: 

(1) acquisitions that have been made by the specified Person or any of its Restricted Subsidiaries, including through mergers, consolidations
or otherwise (including acquisitions of assets used or useful in a Related Business), or any Person or any of its Restricted Subsidiaries acquired by the specified Person or any of its Restricted Subsidiaries, and including in each case any related
financing transactions and increases in ownership of Restricted Subsidiaries, during the four-quarter reference period or subsequent to such reference period and on or prior to the Calculation Date will be given pro forma effect as if they had
occurred on the first day of the four-quarter reference period (in accordance with Regulation S-X under the Securities Act); 
 (2) the
Consolidated Cash Flow attributable to discontinued operations, as determined in accordance with GAAP, and operations or businesses (and ownership interests therein) disposed of prior to the Calculation Date, will be excluded; 

(3) the Fixed Charges attributable to discontinued operations, as determined in accordance with GAAP, and operations or businesses (and
ownership interests therein) disposed of prior to the Calculation Date, will be excluded, but only to the extent that the obligations giving rise to such Fixed Charges will not be obligations of the specified Person or any of its Restricted
Subsidiaries following the Calculation Date; 
 (4) any Person that is a Restricted Subsidiary on the Calculation Date will be deemed to
have been a Restricted Subsidiary at all times during such four-quarter period; 
 (5) any Person that is not a Restricted Subsidiary on the
Calculation Date will be deemed not to have been a Restricted Subsidiary at any time during such four-quarter period; and 
 (6) if any
Indebtedness bears a floating rate of interest, the interest expense on such Indebtedness will be calculated as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging
Obligations applicable to such Indebtedness, but if the remaining term of such Hedging Obligation is less than 12 months, then such Hedging Obligation shall only be taken into account for that portion of the period equal to the remaining term
thereof). 

  
 14 

 “Fixed Charges” means, with respect to any specified Person for any
period, the sum, without duplication, of: 
 (1) the consolidated interest expense of such Person and its Restricted
Subsidiaries for such period, whether paid or accrued (but including, without limitation, amortization of debt issuance costs and original issue discount, noncash interest payments, the interest component of any deferred payment obligations, the
interest component of all payments associated with Capital Lease Obligations, commissions, discounts and other fees and charges incurred in respect of letter of credit or bankers’ acceptance financings), and net of the effect of all payments
made or received pursuant to Interest Rate Agreements; plus 
 (2) the consolidated interest expense of such Person and its
Restricted Subsidiaries that was capitalized during such period; plus 
 (3) any interest on Indebtedness of another Person
that is Guaranteed by the specified Person or one or more of its Restricted Subsidiaries or secured by a Lien on assets of such specified Person or one or more of its Restricted Subsidiaries, regardless of whether such Guarantee or Lien is called
upon; plus 
 (4) all dividends paid in cash on any series of Disqualified Stock or preferred stock of such Person or any of its
Restricted Subsidiaries, other than dividends on Equity Interests payable solely in Equity Interests of the Company (other than Disqualified Stock) or to the Company or a Restricted Subsidiary, 

in each case, on a consolidated basis and determined in accordance with GAAP. 

“Foreign Subsidiary” means any Restricted Subsidiary other than a Domestic Restricted Subsidiary. 

“GAAP” means generally accepted accounting principles in the United States, which are in effect from time to time. All
ratios and computations based on GAAP contained in this Indenture will be computed in conformity with GAAP. 
 “Global
Note” means a Note in registered global form without interest coupons. 
 “Government Securities”
means direct obligations of, or obligations Guaranteed by, the United States of America, and the payment for which the United States pledges its full faith and credit. 

“Guarantee” means a guarantee other than by endorsement of negotiable instruments for collection in the ordinary
course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof, of all or any part of any Indebtedness (whether arising by
virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services or to take or pay or to maintain financial statement conditions or otherwise), or entered into for 

  
 15 

 
purposes of being a co-obligor on or assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole
or in part). “Guarantee” used as a verb has a correlative meaning. 
 “Hedging Obligations”
of any Person means the obligations of such Person pursuant to any Interest Rate and Currency Hedges, Oil and Natural Gas Hedging Contracts and other agreements or arrangements designed to protect such Person against fluctuations in currency
exchange rates or commodity prices. 
 “Holder” or “Noteholder” means the registered holder
of any Note. 
 “Hydrocarbons” means oil, gas, casinghead gas, drip gasoline, natural gasoline, condensate,
distillate, liquid hydrocarbons, gaseous hydrocarbons, natural gas liquids, and all constituents, elements or compounds thereof and products refined or processed therefrom. 

“IAI Global Note” means a Global Note resold to Institutional Accredited Investors bearing the Restricted Legend.

 “incur” has the meaning assigned to such term in Section 4.06(a). 

“Indebtedness” means, with respect to any specified Person, without duplication, any indebtedness of such Person,
regardless of whether contingent: 
 (1) in respect of borrowed money; 

(2) evidenced by bonds, notes, credit agreements, debentures or similar instruments or letters of credit (or reimbursement agreements in
respect thereof); 
 (3) in respect of bankers’ acceptances; 

(4) representing Capital Lease Obligations or Attributable Indebtedness; 

(5) in respect of any Guarantee by such Person of production or payment with respect to a Production Payment (but not any other contractual
obligation in respect of such Production Payment); 
 (6) representing the balance deferred and unpaid of the purchase price of any property
or services due more than six months after such property is acquired or such services are completed, except any such balance that constitutes an accrued expense or a trade payable; 

(7) representing Hedging Obligations; or 

(8) in respect of Disqualified Stock of such Person or preferred stock of a Subsidiary thereof, 

if and to the extent any of the preceding items (other than letters of credit, Disqualified Stock, preferred stock or Hedging Obligations) would appear as a
liability upon a balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness” 

  
 16 

 
includes (a) all Indebtedness of any other Person, of the types described above in clauses (1) through (8), secured by a Lien on any asset of the specified Person (regardless of
whether such Indebtedness is assumed by the specified Person); provided that the amount of such Indebtedness will be the lesser of (i) the Fair Market Value of such asset at such date of determination and (ii) the amount of such
Indebtedness of such other Person, and (b) to the extent not otherwise included, the Guarantee by the specified Person of any Indebtedness of any other Person, of the types described above in clauses (1) through (8) above.
Furthermore, the amount of any Indebtedness outstanding as of any date will be the accreted value thereof, in the case of any Indebtedness issued with original issue discount; and the principal amount thereof, together with any interest thereon that
is more than 30 days past due, in the case of any other Indebtedness. 
 Notwithstanding the foregoing, the following shall not constitute
“Indebtedness:” 
 (a) accrued expenses, royalties and trade accounts payable arising in the ordinary course of
business; 
 (b) except as provided in clause (5) of the first paragraph of this definition, any obligation in respect of any
Production Payment and Reserve Sales; 
 (c) any indebtedness which has been defeased in accordance with GAAP or defeased pursuant to the
deposit of cash or Government Securities (in an amount sufficient to satisfy all such indebtedness obligations at maturity or redemption, as applicable, and all payments of interest and premium, if any) in a trust or account created or pledged for
the sole benefit of the holders of such indebtedness, and subject to no other Liens, and the other applicable terms of the instrument governing such indebtedness; 

(d) oil or natural gas balancing liabilities incurred in the ordinary course of business and consistent with past practice; 

(e) any obligations in respect of (i) bid, performance, completion, surety, appeal and similar bonds, (ii) obligations in
respect of bankers’ acceptances, (iii) insurance obligations or bonds and other similar bonds and obligations and (iv) any Guarantees or letters of credit functioning as or supporting any of the foregoing bonds or obligations;
provided that such bonds or obligations mentioned in subclause (i), (ii), (iii) or (iv) of this clause (e), are incurred in the ordinary course of the business of the Company and its Restricted Subsidiaries and do not
relate to obligations for borrowed money; and 
 (f) any obligation arising from any agreement providing for indemnities, guarantees,
purchase price adjustments, holdbacks, contingency payment obligations based on the performance of the acquired or disposed assets or similar obligations (other than Guarantees of Indebtedness) incurred by any Person in connection with the
acquisition or disposition of assets. 
 “Indenture” means this indenture, as amended or supplemented from time to
time. 
 “Initial Additional Notes” means Additional Notes issued in an offering not registered under the
Securities Act and any Notes issued in replacement thereof, but not including any Exchange Notes issued in exchange therefor. 

  
 17 

 “Initial Notes” means the Notes issued on the Issue Date. 

“Institutional Accredited Investor” means an institutional “accredited investor” (as defined) in Rule 501(a)(1),
(2), (3) or (7) under the Securities Act. 
 “Institutional Accredited Investor Certificate” means a certificate
substantially in the form of Exhibit G hereto. 
 “Intercreditor Agreement” means the agreement substantially in the
form attached hereto as Exhibit I. 
 “interest”, in respect of the Notes, unless the context otherwise requires, refers to
interest and Additional Interest, if any. 
 “Interest Payment Date” means each April 1 and October 1 of each
year, commencing October 1, 2016. 
 “Interest Rate Agreement” means with respect to any Person any interest rate
protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement, interest rate cap agreement, interest rate collar agreement, interest rate hedge agreement or other similar agreement or arrangement
as to which such Person is party or a beneficiary. 
 “Interest Rate and Currency Hedges” of any Person means the
obligations of such Person pursuant to any Interest Rate Agreement or Currency Agreement. 
 “Investment Grade Rating”
means a rating equal to or higher than: 
 (1) Baa3 (or the equivalent) by Moody’s; and 

(2) BBB (or the equivalent) by S&P, 
 or, if
either such entity ceases to rate the Notes for reasons outside of the control of the Company, the equivalent investment grade credit rating from any other Rating Agency. 

“Investment Grade Rating Event” means the first day on which (a) the Notes have an Investment Grade Rating from both
Rating Agencies, (b) no Default with respect to the Notes has occurred and is then continuing under this Indenture and (c) the Company has delivered to the Trustee an Officers’ Certificate certifying as to the satisfaction of the
conditions set forth in clauses (a) and (b) of this definition. 
 “Investments” means, with respect to any
Person, all direct or indirect investments by such Person in other Persons (including Affiliates) in the forms of loans (including Guarantees or other obligations, advances or capital contributions (excluding endorsements of negotiable instruments
and documents in the ordinary course of business, and commission, travel and similar advances to officers, employees and consultants made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity
Interests or other securities, together with all items that are or would be classified as investments on a balance 

  
 18 

 
sheet of such Person prepared in accordance with GAAP. If the Company or any Restricted Subsidiary sells or otherwise disposes of any Equity Interests of any direct or indirect Restricted
Subsidiary such that, after giving effect to any such sale or disposition, such Person is no longer a Restricted Subsidiary, the Company will be deemed to have made an Investment on the date of any such sale or disposition equal to the Fair Market
Value of the Company’s Investments in such Restricted Subsidiary that were not sold or disposed of in an amount determined as provided in Section 4.07(c). The acquisition by the Company or any Subsidiary of the Company of a Person that
holds an Investment in a third Person will be deemed to be an Investment by the Company or such Subsidiary in such third Person in an amount equal to the Fair Market Value of the Investments held by the acquired Person in such third Person in an
amount determined as provided in Section 4.07(c). Except as otherwise provided in this Indenture, the amount of an Investment will be determined at the time the Investment is made and without giving effect to subsequent changes in value. 

“Issue Date” means the date on which Original Notes are originally issued under this Indenture. 

“Junior Lien Debt” means Indebtedness: 

(a) the incurrence of which was permitted under Section 4.06 of this Indenture at the date of its incurrence, and 

(b) that is secured by Liens: 

(i) that are on substantially the same Property as secure the Notes; 

(ii) that are created under security documents substantially the same as those that secure the Notes and are junior in priority to the Liens
securing the Notes; and 
 (iii) the holder or holders of which (or an agent or other representative thereof) shall have become parties to
the Intercreditor Agreement, 
 as such Indebtedness may be amended, restated, modified, renewed, refunded, replaced or refinanced in whole or in part from
time to time in accordance with the applicable security instrument. 
 “Legal Holiday” means a Saturday, a Sunday or a day
on which banking institutions in the City of New York or at a place of payment are authorized by law, regulation or executive order to remain closed. 

“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in
respect of such asset, regardless of whether filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to sell or
give a security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction other than a precautionary financing statement respecting a lease not intended
as a security agreement. 

  
 19 

 “Liquid Securities” means securities that are publicly traded on the New York
Stock Exchange, NYSE MKT, the Nasdaq Stock Market or any other regulated stock exchange in the United States, Canada, Europe or Australia (or any of their successors) and as to which the Company is not subject to any restrictions on sale or transfer
(including any volume restrictions under Rule 144 under the Securities Act or any other restrictions imposed by the Securities Act) or as to which a registration statement under the Securities Act covering the resale thereof is in effect for as long
as the securities are held; provided that securities meeting such requirements shall be treated as Liquid Securities from the date of receipt thereof until and only until the earlier of (a) the date on which such securities are sold or
exchanged for cash or Cash Equivalents and (b) 180 days following the date of receipt of such securities. If such securities are not sold or exchanged for cash or Cash Equivalents within 180 days of receipt thereof, for purposes of determining
whether the transaction pursuant to which the Company or a Restricted Subsidiary received the securities was in compliance with Section 4.12, such securities shall be deemed not to have been Liquid Securities at any time. 

“Make-Whole Price” with respect to any Notes to be redeemed means an amount, as determined by the Company, equal to the
greater of: 
 (1) 100% of the principal amount of such Notes; and 

(2) the sum of the present values of (a) the redemption price of such Notes at April 1, 2018 (as set forth in Section 3.01(a))
and (b) the remaining scheduled payments of interest from the redemption date to April 1, 2018 (not including any portion of such payments of interest accrued as of the redemption date) discounted back to the redemption date on a
semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 50 basis points; 
 plus, in the case of both
(1) and (2), accrued and unpaid interest on such Notes, if any, to the redemption date. 
 “Maturity Date” means
October 1, 2020. 
 “Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency
business thereof. 
 “Net Income” means, with respect to any specified Person, the net income (loss) of such Person,
determined in accordance with GAAP and before any reduction in respect of non-cash preferred stock dividends, excluding, however: 
 (1) any
gain or loss, together with any related provision for taxes on such gain or loss, realized in connection with: (a) any Asset Sale (including, without limitation, any cash received pursuant to any sale and leaseback transaction) or (b) the
disposition of any securities by such Person or the extinguishment of any Indebtedness of such Person; and 
 (2) any extraordinary or
non-recurring gain or loss, together with any related provision for taxes on such extraordinary or non-recurring gain or loss. 

  
 20 

 “Net Proceeds” means the aggregate cash proceeds received by the Company or any
of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash received upon the sale or other disposition of any non-cash consideration received in any Asset Sale), net of: 

(1) all legal, accounting, investment banking, title and recording tax expenses, commissions and other fees and expense incurred, and all
federal, state, provincial, foreign and local taxes required to be paid or accrued as a liability under GAAP (after taking into account any available tax credits or deductions and any tax sharing agreements), as a consequence of such Asset Sale;

 (2) all payments made on any Indebtedness which is secured by any assets subject to such Asset Sale, in accordance with the terms of such
Indebtedness, or which must by its terms, or in order to obtain a necessary consent to such Asset Sale, or by applicable law be repaid out of the proceeds from such Asset Sale; 

(3) all distributions and other payments required to be made to holders of minority interests in Subsidiaries or joint ventures as a result of
such Asset Sale; and 
 (4) the deduction of appropriate amounts to be provided by the seller as a reserve, in accordance with GAAP, or held
in escrow, in either case for adjustment in respect of the sale price or for any liabilities associated with the assets disposed of in such Asset Sale and retained by the Company or any Restricted Subsidiary after such Asset Sale. 

“Net Working Capital” means (a) all current assets of the Company and its Restricted Subsidiaries except current assets
from Oil and Natural Gas Hedging Contracts, less (b) all current liabilities of the Company and its Restricted Subsidiaries, except (i) current liabilities included in Indebtedness, (ii) current liabilities associated with asset
retirement obligations relating to oil and gas properties and (iii) any current liabilities from Oil and Natural Gas Hedging Contracts, in each case as set forth in the consolidated financial statements of the Company prepared in accordance
with GAAP (excluding any adjustments made pursuant to the Financial Standards Accounting Board’s Accounting Standards Codification (ASC) 815 and any adjustments reflecting fluctuations in the fair market value of derivatives). 

“Non-U.S. Person” means a Person that is not a U.S. Person, as defined in Regulation S. 

“Non-Recourse Debt” means Indebtedness: 

(1) as to which neither the Company nor any Restricted Subsidiary (a) provides any Guarantee or credit support of any kind (including any
undertaking, Guarantee, indemnity, agreement or instrument that would constitute Indebtedness) or (b) is directly or indirectly liable (as a guarantor or otherwise), in each case other than Liens on and pledges of the Equity Interests of any
Unrestricted Subsidiary or any joint venture owned by the Company or any Restricted Subsidiary to the extent securing otherwise Non-Recourse Debt of such Unrestricted Subsidiary or joint venture except in each case for Customary Recourse Exceptions;

 (2) no default with respect to which (including any rights that the holders thereof may have to take enforcement action against an
Unrestricted Subsidiary) would permit (upon notice, 

  
 21 

 
lapse of time or both) any holder of any other Indebtedness of the Company or any Restricted Subsidiary to declare a default under such other Indebtedness or cause the payment thereof to be
accelerated or payable prior to its Stated Maturity; and 
 (3) the governing documentation for which provides that the lenders will have no
recourse to property or assets of the Company or its Restricted Subsidiaries. 
 “Note Documents” means this Indenture, the
Notes, the Subsidiary Guarantees, the Security Instruments and the Intercreditor Agreement. 
 “Notes” has the meaning
assigned to such term in the Recitals. 
 “Notes Obligations” means Obligations in respect of the Notes, this Indenture and
the Security Instruments, including for the avoidance of doubt, Obligations with respect to Permitted Refinancing Indebtedness related thereto and Obligations in respect of all fees of, payment or reimbursement of expenses incurred by,
indemnifications, damages and any other liabilities payable to, the Trustee in accordance with the Note Documents, but not any Bank Product Obligations. 

“Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities
payable under the documentation governing any Indebtedness, provided that, except as otherwise provided in the definition of Notes Obligations, in order to avoid double counting, Obligations with respect to the Notes shall not include fees or
indemnifications in favor of the Trustee and other third parties other than the Holders of the Notes. 
 “Offer Amount” has
the meaning assigned to such term in Section 4.12(f). 
 “Offer Period” has the meaning assigned to such term in
Section 4.12(f). 
 “Officer” means, in the case of the Company, the Chairman of the Board, the Chief Executive
Officer, the President, the Chief Financial Officer, any Vice President, the Treasurer or the Secretary of the Company and, in the case of any Subsidiary Guarantor, the Chairman of the Board, the Chief Executive Officer, the President, the Chief
Financial Officer, any Vice President, the Treasurer or the Secretary of such Subsidiary Guarantor. 
 “Officers’
Certificate” means, in the case of the Company, a certificate signed by two Officers or by an Officer and either an Assistant Treasurer or an Assistant Secretary of the Company and, in the case of any Subsidiary Guarantor, a certificate
signed by two Officers or by an Officer and either an Assistant Treasurer or an Assistant Secretary of such Subsidiary Guarantor. 

“Offshore Global Note” means a Global Note representing Notes issued and sold pursuant to Regulation S. 

“Oil and Natural Gas Hedging Contract” means any Hydrocarbon hedging agreements and other agreements or arrangements entered
into in the ordinary course of business in the oil and gas industry for the purpose of protecting against fluctuations in Hydrocarbon prices. 

  
 22 

 “Opinion of Counsel” means a written opinion signed by legal counsel, who may be
an employee of or counsel to the Company, satisfactory to the Trustee. 
 “Original Notes” means the Initial Notes and any
Exchange Notes issued in exchange therefor. 
 “Paying Agent” refers to a Person engaged to perform the obligations of the
Trustee in respect of payments made or funds held hereunder in respect of the Notes. 
 “Payment Default” has the meaning
assigned to such term in Section 6.01. 
 “Permitted Acquisition Indebtedness” means Indebtedness or Disqualified
Stock of the Company or any of the Company’s Restricted Subsidiaries to the extent such Indebtedness or Disqualified Stock was Indebtedness or Disqualified Stock of: 

(1) a Person prior to the date on which such Person became a Restricted Subsidiary; or 

(2) a Person that was merged or consolidated into the Company or a Restricted Subsidiary; 

 provided that such Indebtedness was not incurred in connection with or in contemplation of such Person becoming a Restricted Subsidiary or
merging into the Company or Restricted Subsidiary and on the date such Subsidiary became a Restricted Subsidiary or the date such Person was merged or consolidated into the Company or a Restricted Subsidiary, as applicable, after giving pro forma
effect thereto, 
 (a) the Restricted Subsidiary or the Company, as applicable, would be permitted to incur at least $1.00 of additional
Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.06(a), or 
 (b) the Fixed Charge Coverage Ratio
for the Company would be greater than the Fixed Charge Coverage Ratio for the Company immediately prior to such transaction. 

“Permitted Business Investments” means Investments and expenditures made in the ordinary course of, and of a nature that is
or shall have become customary in, a Related Business as a means of actively exploiting, exploring for, acquiring, developing, processing, gathering, marketing or transporting oil, natural gas, other Hydrocarbons and minerals through agreements,
transactions, interests or arrangements that permit one to share risks or costs of such activities with third parties or comply with regulatory requirements regarding local ownership, including without limitation, (a) ownership interests in
oil, natural gas, other Hydrocarbons and minerals properties, processing facilities, gathering systems, pipelines, storage facilities or related systems or ancillary real property interests; (b) Investments in the form of or pursuant to
operating agreements, working interests, royalty interests, mineral leases, processing agreements, Farm-In Agreements, Farm-Out Agreements, contracts for the sale, transportation or exchange of oil, natural gas, other Hydrocarbons and minerals,
marketing arrangements, production sharing agreements, participation agreements, development agreements, area of mutual interest agreements, unitization agreements, pooling agreements, joint bidding agreements, service

  
 23 

 
contracts, joint venture agreements, partnership agreements (whether general or limited), subscription agreements, stock purchase agreements, stockholder agreements and other similar agreements
(including for limited liability companies) with third parties; and (c) direct or indirect ownership interests in drilling rigs and related equipment, including, without limitation, transportation equipment, but excluding, in each case,
investments in corporations, publicly traded limited liability companies or publicly traded partnerships. 
 “Permitted
Debt” has the meaning assigned to such term in Section 4.06(b). 
 “Permitted Investments” means: 

(1) any Investment in the Company or in a Restricted Subsidiary; 

(2) any Investment in Cash Equivalents; 

(3) any Investment by the Company or any Restricted Subsidiary in a Person, if as a result of such Investment: 

(A) such Person becomes a Restricted Subsidiary; or 

(B) such Person is merged or consolidated with or into, or transfers or conveys substantially all of its properties or assets
to, or is liquidated into, the Company or a Restricted Subsidiary 
 (4) any Investment made as a result of the receipt of non-cash
consideration from an Asset Sale that was made pursuant to and in compliance with Section 4.12; 
 (5) any Investments received in
compromise or resolution of (a) obligations of trade creditors or customers that were incurred in the ordinary course of business of the Company or any of its Restricted Subsidiaries, including pursuant to any plan of reorganization or similar
arrangement upon the bankruptcy or insolvency of any trade creditor or customer; or (b) litigation, arbitration or other disputes with Persons that are not Affiliates; 

(6) Investments represented by Hedging Obligations incurred in the ordinary course of business and not for speculative purposes; 

(7) advances to or reimbursements of employees for moving, entertainment and travel expenses, drawing accounts and similar expenditures in the
ordinary course of business, in each case to the extent they constitute Investments; 
 (8) loans or advances to employees in the ordinary
course of business or consistent with past practice, in each case to the extent they constitute Investments; 
 (9) advances and prepayments
for asset purchases in the ordinary course of business in a Related Business of the Company or any of its Restricted Subsidiaries; 
 (10)
receivables owing to the Company or any Restricted Subsidiary created or acquired in the ordinary course of business and payable or dischargeable in accordance with 

  
 24 

 
customary trade terms; provided that such trade terms may include such concessionary trade terms as the Company or any such Restricted Subsidiary deems reasonable under the circumstances;

 (11) surety and performance bonds and workers’ compensation, utility, lease, tax, performance and similar deposits and prepaid
expenses in the ordinary course of business; 
 (12) guarantees by the Company or any of its Restricted Subsidiaries of operating leases
(other than Capital Lease Obligations) or of other obligations that do not constitute Indebtedness, in each case entered into by the Company or any such Restricted Subsidiary in the ordinary course of business; 

(13) Investments of a Restricted Subsidiary acquired after the Issue Date or of any entity merged into the Company or merged into or
consolidated with a Restricted Subsidiary in accordance with Article 5 to the extent that such Investments were not made in contemplation of or in connection with such acquisition, merger or consolidation and were in existence on the date of
such acquisition, merger or consolidation; 
 (14) Permitted Business Investments; 

(15) Investments received as a result of a foreclosure by the Company or any of its Restricted Subsidiaries with respect to any secured
Investment in default; 
 (16) Investments existing on the Issue Date, and any extension, modification or renewal of any such Investments
existing on the Issue Date, but only to the extent not involving additional advances, contributions or other Investments of cash or other assets or other increases of such Investments (other than as a result of the accrual or accretion of interest
or original issue discount or the issuance of pay-in-kind securities, in each case, pursuant to the terms of such Investments as in effect on the Issue Date); 

(17) repurchases of or other Investments in the Notes; 

(18) any acquisition of assets solely in exchange for the issuance of Capital Stock (other than Disqualified Stock) of the Company,
provided that the value of such assets is not included in clause (iii)(b) of Section 4.07(a); 
 (19) Investments made pursuant
to agreements in effect and as in effect on the Issue Date; and 
 (20) In addition to the Investments described above, other Investments in
any Person having an aggregate Fair Market Value (measured on the date each such Investment is made and without giving effect to any changes in value), when taken together with all other Investments pursuant to this clause (20) that are at the
time outstanding, not to exceed the greater of $15 million and 2.0% of Adjusted Consolidated Net Tangible Assets of the Company at the time of such Investment. 

  
 25 

 “Permitted Liens” means, with respect to any Person: 

(1) Liens securing Indebtedness incurred under Credit Facilities pursuant to Section 4.06(b)(i) or otherwise existing on the Issue Date;

 (2) Liens to secure Indebtedness (including Capital Lease Obligations) permitted by Section 4.06(b)(4) covering only the assets
acquired with or financed by such Indebtedness; 
 (3) pledges or deposits by such Person under workers’ compensation laws,
unemployment insurance laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory
obligations of such Person or deposits or cash or United States government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import or customs duties or for the payment of rent, in
each case incurred in the ordinary course of business; 
 (4) landlords’, carriers’, warehousemen’s, mechanics’,
materialmen’s, repairmen’s or similar Liens arising by contract or statute in the ordinary course of business and with respect to amounts which are not yet delinquent or are being contested in good faith by appropriate proceedings; 

(5) Liens for taxes, assessments or other governmental charges or which are being contested in good faith by appropriate proceedings provided
appropriate reserves required pursuant to GAAP have been made in respect thereof; 
 (6) Liens in favor of the issuers of surety or
performance bonds or letters of credit or bankers’ acceptances issued pursuant to the request of and for the account of such Person in the ordinary course of its business; provided that such letters of credit do not constitute
Indebtedness; 
 (7) encumbrances, easements or reservations of, or rights of others for, licenses, rights of way, sewers, electric lines,
telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real properties or Liens incidental to the conduct of the business of such Person or to the ownership of its properties which do not in the
aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; 

(8) leases and subleases of real property which do not materially interfere with the ordinary conduct of the business of the Company and its
Restricted Subsidiaries, taken as a whole; 
 (9) any attachment or judgment Liens not giving rise to an Event of Default; 

(10) Liens arising solely by virtue of any statutory or common law provisions relating to banker’s Liens, rights of set-off or similar
rights and remedies as to deposit accounts or other funds maintained or deposited with a depositary institution; provided that: 

(A) such deposit account is not a dedicated cash collateral account and is not subject to restrictions against access by the
Company in excess of those set forth by regulations promulgated by the Federal Reserve Board; and 
 (B) such deposit account
is not intended by the Company or any Restricted Subsidiary to provide collateral to the depository institution; 

  
 26 

 (11) Liens securing obligations of the Company and its Restricted Subsidiaries under
non-speculative Hedging Obligations entered into in the ordinary course of business; 
 (12) Liens arising from Uniform Commercial Code
financing statement filings regarding operating leases entered into by the Company and its Restricted Subsidiaries in the ordinary course of business or otherwise not arising in connection with security for Indebtedness; 

(13) Liens on property at the time the Company or a Restricted Subsidiary acquired the property, including any acquisition by means of a
merger or consolidation with or into the Company or a Restricted Subsidiary; provided that such Liens are not created, incurred or assumed in connection with, or in contemplation of, such acquisition; provided
further that such Liens may not extend to any other property owned by the Company or any Restricted Subsidiary other than those of the Person merged or consolidated with the Company or such Restricted Subsidiary; 

(14) Liens on property or Capital Stock of a Person at the time such Person becomes a Restricted Subsidiary; provided that such Liens
are not created, incurred or assumed in connection with, or in contemplation of, such other Person becoming a Restricted Subsidiary; provided further that such Liens may not extend to any other property owned by the Company or any
Restricted Subsidiary; 
 (15) Liens securing Indebtedness or other obligations of a Restricted Subsidiary owing to the Company or a
Subsidiary Guarantor; 
 (16) Liens securing the Original Notes and the related Subsidiary Guarantees and other obligations arising under
this Indenture; 
 (17) Liens securing Permitted Refinancing Indebtedness permitted under Section 4.06(b)(v) of the Company or a
Restricted Subsidiary incurred to refinance Indebtedness of the Company or a Restricted Subsidiary that was previously so secured; provided that any such Lien is limited to all or part of the same property or assets (plus improvements,
accessions, proceeds or dividends or distributions in respect thereof) that secured (or, under the written arrangements under which the original Lien arose, could secure) the Indebtedness being refinanced or is in respect of property or assets that
is the security for a Permitted Lien hereunder; 
 (18) Liens arising under this Indenture in favor of the Trustee for its own benefit and
similar Liens in favor of other trustees, agents and representatives arising under instruments governing Indebtedness permitted to be incurred under this Indenture; provided that such Liens are solely for the benefit of the trustees,
agents or representatives in their capacities as such and not for the benefit of the holders of the Indebtedness; 
 (19) Liens on and
pledges of the Equity Interests of any Unrestricted Subsidiary or any joint venture owned by the Company or any Restricted Subsidiary to the extent securing Non-Recourse Debt of such Unrestricted Subsidiary or joint venture; 

  
 27 

 (20) Liens on assets of a Foreign Subsidiary securing Indebtedness of any Foreign Subsidiary
which Indebtedness is permitted by this Indenture; 
 (21) Liens on property securing a defeasance trust; 

(22) Liens securing Junior Lien Debt; 

(23) Liens securing the Bank Product Obligations; and 

(24) Liens with respect to obligations that, at any one time outstanding, do not exceed $10 million. 

In each case set forth above, notwithstanding any stated limitation therein on the assets that may be subject to a Lien such Lien on a specified asset or
group or type of assets may include a Lien on any improvements, additions and accessions thereto and all products and proceeds thereof (including dividends and distributions in respect thereof). 

“Permitted Refinancing Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries, any
Disqualified Stock of the Company or any preferred stock of any Restricted Subsidiary (a) issued in exchange for, or the net proceeds of which are used to extend, renew, refund, refinance, replace, defease, discharge or otherwise retire for
value, in whole or in part, or (b) constituting an amendment, modification or supplement to or a deferral or renewal of ((a) and (b) above, collectively, a “Refinancing”), any other Indebtedness of the Company or any of
its Restricted Subsidiaries (other than intercompany Indebtedness), in a principal amount (or accreted value, as applicable) not to exceed the principal amount of the Indebtedness so Refinanced (plus the amount of premium or reasonable fees and
expenses, if any, paid in connection therewith). 
 Notwithstanding the preceding, no Indebtedness, Disqualified Stock or preferred stock
will be deemed to be Permitted Refinancing Indebtedness, unless: 
 (1) such Indebtedness has a final maturity date no earlier than the
final maturity date of, and has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being Refinanced; 

(2) if the Indebtedness being Refinanced is contractually subordinated or otherwise junior in right of payment to the Notes, such Indebtedness
and is contractually subordinated or otherwise junior in right of payment to, the Notes, on terms at least as favorable to the holders of Notes as those contained in the documentation governing the Indebtedness being Refinanced at the time of the
Refinancing; and 
 (3) such Indebtedness is incurred or issued by the Company or such Indebtedness is incurred or issued by the Restricted
Subsidiary that is the obligor on the Indebtedness being Refinanced; provided that a Restricted Subsidiary that is also a Subsidiary Guarantor may guarantee Permitted Refinancing Indebtedness incurred by the Company, regardless of whether
such Restricted Subsidiary was an obligor or guarantor of the Indebtedness being Refinanced. 

  
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 “Person” means any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization, limited liability company, government or any agency or political subdivision thereof or any other entity. 

“principal” of any Indebtedness means the principal amount of such Indebtedness, together with, unless the context otherwise
indicates, any premium then payable on such Indebtedness. 
 “Production Payments” means Dollar-Denominated Production
Payments and Volumetric Production Payments, collectively. 
 “Production Payments and Reserve Sales” means the grant or
transfer by the Company or a Subsidiary of the Company to any Person of a royalty, overriding royalty, net profits interest, Production Payment, partnership or other interest in oil and gas properties, reserves or the right to receive all or a
portion of the production or the proceeds from the sale of production attributable to such properties, including any such grants or transfers pursuant to incentive compensation programs on terms that are reasonably customary in the oil and gas
business for geologists, geophysicists and other providers of technical services to the Company or a Subsidiary of the Company. 

“Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible,
including without limitation cash, securities, accounts and contract rights. 
 “Proved Reserves” means “Proved
Reserves” as defined in the Definitions for Oil and Gas Reserves (in this paragraph, the “Definitions”) promulgated by the Commission as in effect at the time in question, and “Proved Developed Producing
Reserves” means Proved Reserves which are categorized as both “Developed” and “Producing” in the Definitions. 

“Purchase Date” has the meaning set forth in Section 4.12(f). 

“PV-10 Value” means, as of any date of determination, the net present value, discounted at 10% per annum, of the
future net revenues expected to accrue to the Company and its Restricted Subsidiaries’ collective interests in Proved Reserves and/or Proved Developed Producing Reserves, as applicable, expected to be produced from oil and gas properties during
the remaining expected economic lives of such reserves as of such date, calculated as provided herein. Each calculation of such expected future net revenues shall be made in accordance with the then existing standards of the Commission;
provided that in any event: 
 (a) appropriate deductions shall be made for severance and ad valorem taxes, and for operating,
gathering, transportation and marketing costs required for the production and sale of such reserves; 
 (b) appropriate adjustments shall be
made for Hedging Obligations; and 
 (c) the pricing assumptions used in determining PV-10 Value for any particular reserves shall be Strip
Price with respect thereto, as determined within the 30 days preceding such date of determination; provided that future net revenues calculated using the pricing 

  
 29 

 
assumptions set forth in this clause (c) shall be further adjusted to account for the projected average basis differential for the periods utilized for such pricing assumptions based upon
market based-quotations reasonably determined by Company. 
 “Rating Agency” means any of S&P or Moody’s, or if
(and only if) S&P or Moody’s shall not make a rating on the Notes publicly available, a nationally recognized statistical rating agency or agencies, as the case may be, selected by the Company, which shall be substituted for S&P or
Moody’s, as the case may be. 
 “Registrar” means a Person engaged to maintain the Register. 

“Regular Record Date” for the interest payable on any Interest Payment Date means the March 15 or September 15
(whether or not a Business Day) next preceding such Interest Payment Date. 
 “Regulation S” means Regulation S under the
Securities Act. 
 “Regulation S Certificate” means a certificate substantially in the form of Exhibit E hereto. 

“Refinancing” has the meaning assigned to such term in the definition of ‘Permitted Refinancing Indebtedness.
“Refinanced” shall have the correlative meaning. 
 “Registration Rights Agreement” means (i) with
respect to the Initial Notes, the Registration Rights Agreement by the Company and the Guarantors for the benefit of the Holders substantially in the form attached hereto as Exhibit J, and (ii) with respect to any Additional Notes, any
registration rights agreements relating to rights given by the Company and the Subsidiary Guarantors to the Holders of Additional Notes to register such Additional Notes or exchange them for Notes registered under the Securities Act. 

“Related Business” means any business which is the same as or related, ancillary or complementary to any of the businesses of
the Company and its Restricted Subsidiaries on the Issue Date, which includes (1) the acquisition, exploration, exploitation, development, production, operation and disposition of interests in oil, gas and other Hydrocarbon properties, and the
utilization of the Company’s and its Restricted Subsidiaries’ properties, (2) the gathering, marketing, treating, processing, storage, refining, selling, disposal, recycling and transporting of any production from such interests or
properties and products produced in association therewith, (3) oil field sales and services and related activities, and (4) any business or activity relating to, arising from, or necessary, appropriate or incidental to the activities
described in the foregoing clauses (1) through (3) of this definition. 
 “Restricted Investment” means any
Investment other than a Permitted Investment. 
 “Restricted Legend” means the legend set forth in Exhibit C. 

“Restricted Payment” has the meaning assigned to such term in Section 4.07. 

  
 30 

 “Restricted Period” means the relevant 40-day distribution compliance period as
defined in Regulation S. 
 “Restricted Subsidiary” means any Subsidiary of the Company other than an Unrestricted
Subsidiary. 
 “Rule 144” means Rule 144 under the Securities Act. 

“Rule 144A” means Rule 144A under the Securities Act. 

“Rule 144A Certificate” means (i) a certificate substantially in the form of Exhibit F hereto or (ii) a
written certification addressed to the Company and the Trustee to the effect that the Person making such certification (x) is acquiring such Note (or beneficial interest) for its own account or one or more accounts with respect to which it
exercises sole investment discretion and that it and each such account is a qualified institutional buyer within the meaning of Rule 144A, (y) is aware that the transfer to it or exchange, as applicable, is being made in reliance upon the
exemption from the provisions of Section 5 of the Securities Act provided by Rule 144A, and (z) acknowledges that it has received such information regarding the Company as it has requested pursuant to Rule 144A(d)(4) or has determined not
to request such information. 
 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw
Hill Companies, Inc. 
 “Securities Act” means the Securities Act of 1933, as amended. 

“Security Instruments” means all mortgages, deeds of trust and other agreements, consents or certificates now or hereafter
executed and delivered by the Company or any Subsidiary Guarantor in connection with, or as security for the payment or performance of the Note Obligations. 

“Senior Credit Agreement” means the Amended and Restated Credit Agreement dated as of March 27, 2013, as amended on or
before the Issue Date, among (i) the Company, (ii) Royal Bank of Canada, as administrative agent, KeyBank National Association, as syndication agent, and (iii) the other lenders party thereto from time to time, and any related notes,
guarantees, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended, restated, modified, supplemented, increased, renewed, refunded, replaced (including replacement after the termination of such
credit facility), supplemented, restructured or refinanced in whole or in part from time to time in one or more agreements or instruments. 

“Shelf Registration Statement” means the Shelf Registration Statement as defined in a Registration Rights Agreement. 

“Significant Subsidiary” means any Restricted Subsidiary that would be a “significant subsidiary” of the Company
within the meaning of Rule 1-02 under Regulation S-X under the Securities Act. 

  
 31 

 “Stated Maturity” means, with respect to any installment of interest or
principal on any series of Indebtedness, the date on which the payment of interest or principal was scheduled to be paid in the documentation governing such Indebtedness as of its issue date, and will not include any contingent obligations to repay,
redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. 
 “Strip
Price” means, as of any date of the determination, with respect to oil and gas properties: 
 (a) for each of the first 12 months
following such date (the “Initial Strip”), the average of the closing contract prices for the 12 succeeding monthly futures contracts following such date; 

(b) for each of the 12 months following the Initial Strip (the “Second Strip”), the average of the closing contract prices
for the next 12 succeeding monthly future contracts following the Initial Strip; 
 (c) for each of the 12 months following the Second Strip
(the “Third Strip”), the average of the closing contract prices for the next 12 succeeding monthly future contracts following the Second Strip; 

(d) for each of the first 12 months following the Third Strip (the “Fourth Strip”), the average of the closing contract
prices for the 12 succeeding monthly futures contracts following the Third Strip; and 
 (e) for each month thereafter, the average of the
closing contract prices for the next 12 succeeding monthly future contracts following the Fourth Strip, and 
 (f) in each case as quoted on
the New York Mercantile Exchange or any equivalent exchange (in either case, the “Exchange”) and published in a nationally recognized publication for such pricing or obtained from a nationally recognized third party as selected by
the Company; 
  provided that: 

(1) if the Exchange no longer provides futures contract price quotes for 60-month periods, the Strip Price shall be: 

(a) for each month of the longest available period of quotes of less than 60 months (the “Initial Testing Period”), the
average of the closing contract prices for the “X” succeeding monthly future contracts (where “X” equals the number of months in the Initial Testing Period), and 

(b) to the extent the Initial Testing Period is longer than 12 months, for each month after the Initial Testing Period, the average of such
contract prices for the last 12 months of such Initial Testing Period, in each case as quoted on the Exchange and published in a nationally recognized publication for such pricing as selected by the Trustee, and 

(2) if the Exchange no longer provides such futures contract quotes or has ceased to operate, the Company shall designate another nationally
recognized commodities exchange to replace the Exchange for purposes of the references to the Exchange herein. 

  
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 “Subordinated Debt” means Indebtedness of the Company or a Subsidiary Guarantor
that is contractually subordinated in right of payment (by its terms or the terms of any document or instrument relating thereto) to the Notes or the Subsidiary Guarantee of such Subsidiary Guarantor, as applicable. 

“Subsidiary” means, with respect to any specified Person: 

(1) any corporation, association or other business entity (other than a partnership) of which more than 50% of the total voting power of its
Voting Stock is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 

(2) any partnership (a) the sole general partner or the managing general partner of which is such Person or a Subsidiary of such Person
or (b) the only general partners of which are that Person or one or more Subsidiaries of that Person (or any combination thereof). 

“Subsidiary Guarantee” means any Guarantee of the Notes by any Subsidiary Guarantor in accordance with Section 4.10.

 “Subsidiary Guarantor” means each Restricted Subsidiary that is a party to this Indenture or that has become obligated
under a Subsidiary Guarantee, in accordance with Sections 4.10 and Article 10, but only for so long as such Subsidiary remains so obligated pursuant to the terms of this Indenture. 

“Treasury Management Arrangement” means any agreement or other arrangement governing the provision of treasury or cash
management services, including deposit accounts, overdraft, credit or debit card, funds transfer (including electronic funds transfer), automated clearinghouse, zero balance accounts, returned check concentration, controlled disbursement, lockbox,
interstate depository network services, account reconciliation and reporting and trade finance services and other cash management services. 

“Treasury Rate” means, as of any redemption date, the yield to maturity as of such redemption date of United States Treasury
securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two Business Days prior to the redemption date (or, if such Statistical
Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to April 1, 2018; provided that if the then remaining term of the Notes to April 1, 2018
is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate will be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly
average yields of United States Treasury securities for which such yields are given, except that if the period from the redemption date to April 1, 2018, is less than one year, the weekly average yield on actively traded United States Treasury
securities adjusted to a constant maturity of one year will be used. 

  
 33 

 “Trustee” means the party named as such in the first paragraph of this Indenture
or any successor trustee under this Indenture pursuant to Article 7. Unless the context otherwise requires, “Trustee” shall be deemed to include the entity acting as trustee in its capacities (if any) as collateral agent and
Agent. 
 “Trust Indenture Act” means the Trust Indenture Act of 1939. 

“U.S. Global Note” means a Global Note that bears the Restricted Legend representing Notes issued and sold pursuant to
Rule 144A. 
 “USA Patriot Act” means The Uniting and Strengthening America by Providing Appropriate Tools Required to
Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26, 2001)). 

“Unrestricted Subsidiary” means any Subsidiary of the Company (including any newly acquired or newly formed Subsidiary or a
Person becoming a Subsidiary through merger or consolidation or Investment therein) that is designated by the Board of Directors of the Company as an Unrestricted Subsidiary pursuant to a resolution of such Board of Directors, but only to the extent
that such Subsidiary: 
 (1) has no Indebtedness other than Non-Recourse Debt; 

(2) is a Person with respect to which neither the Company nor any of its Restricted Subsidiaries has any direct or indirect obligation
(a) to subscribe for additional Equity Interests or (b) to maintain or preserve such Person’s financial condition or to cause such Person to achieve any specified levels of operating results; and 

(3) has not guaranteed or otherwise directly or indirectly provided credit support for any Indebtedness of the Company or any of its
Restricted Subsidiaries, except to the extent such Guarantee or credit support would be released upon such designation. 
 Any Subsidiary of
an Unrestricted Subsidiary shall also be an Unrestricted Subsidiary. 
 “Volumetric Production Payments” means production
payment obligations recorded as deferred revenue in accordance with GAAP, together with all related undertakings and obligations. 

“Voting Stock” of any specified Person as of any date means the Capital Stock of such Person that is at the time entitled
(without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of the Board of Directors of such Person. 

“Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years obtained by
dividing: 
 (1) the sum of the products obtained by multiplying (a) the amount of each then remaining installment, sinking fund,
serial maturity or other required payments of principal, including payment at final maturity, in respect of the Indebtedness, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making
of such payment; by 
 (2) the then outstanding principal amount of such Indebtedness. 

  
 34 

 Section 1.02. Rules of Construction. Unless the context otherwise requires or except
as otherwise expressly provided: 
 (1) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

 (2) “herein,” “hereof” and other words of similar import refer to this Indenture as a whole and not to any particular
Section, Article or other subdivision; 
 (3) all references to Sections or Articles or Exhibits refer to Sections or
Articles or Exhibits of or to this Indenture unless otherwise indicated; 
 (4) references to agreements or instruments, or to statutes
or regulations, are to such agreements or instruments, or statutes or regulations, as amended from time to time (or to successor statutes and regulations); and 

(5) in the event that a transaction meets the criteria of more than one category of permitted transactions or listed exceptions the Company
may classify such transaction as it, in its sole discretion, determines. 
 ARTICLE 2 

THE NOTES 

Section 2.01. Form, Dating and Denominations; Legends. (a) The Notes and the Trustee’s certificate of authentication
will be substantially in the form attached as Exhibit A. The terms and provisions contained in the form of the Notes annexed as Exhibit A constitute, and are hereby expressly made, a part of this Indenture. The Notes may have notations,
legends or endorsements required by law, rules of or agreements with national securities exchanges to which the Company is subject. Each Note will be dated the date of its authentication. The Notes will be issuable in denominations of $2,000 in
principal amount and any multiple of $1 in excess thereof. 
 (b) (i) Except as otherwise provided in paragraph (c),
Section 2.10(a)(iii), (a)(v) or (b) or Section 2.09(a)(v), each Initial Note or Initial Additional Note will bear the Restricted Legend. 

(ii) Each Global Note, whether or not an Initial Note or Additional Note, will bear the DTC Legend. 

(iii) Initial Notes resold to Institutional Accredited Investors will be in the form of an IAI Global Note. 

(iv) Exchange Notes will be issued, subject to Section 2.09(a), in the form of one or more Global Notes. 

  
 35 

 (c) 

(i) If the Company determines (upon the advice of counsel and such other certifications and evidence as the Company may
reasonably require) that a Note is eligible for resale pursuant to Rule 144 under the Securities Act (or a successor provision) without the need for current public information and that the Restricted Legend is no longer necessary or appropriate in
order to ensure that subsequent transfers of the Note (or a beneficial interest therein) are effected in compliance with the Securities Act, or 

(ii) after an Initial Note or any Initial Additional Note is (x) sold pursuant to an effective registration statement
under the Securities Act, pursuant to a Registration Rights Agreement or otherwise, or (y) is validly tendered for exchange into an Exchange Note pursuant to an Exchange Offer, the Company may instruct the Trustee to cancel the Note and issue
to the Holder thereof (or to its transferee) a new Note of like tenor and amount, registered in the name of the Holder thereof (or its transferee), that does not bear the Restricted Legend, and the Trustee will comply with such instruction. 

(d) By its acceptance of any Note bearing the Restricted Legend (or any beneficial interest in such a Note), each Holder thereof and each
owner of a beneficial interest therein acknowledges the restrictions on transfer of such Note (and any such beneficial interest) set forth in this Indenture and in the Restricted Legend and agrees that it will transfer such Note (and any such
beneficial interest) only in accordance with this Indenture and such legend. 
 Section 2.02. Execution and Authentication; Exchange
Notes; Additional Notes. (a) An Officer shall execute the Notes for the Company by facsimile or manual signature in the name and on behalf of the Company. If an Officer whose signature is on a Note no longer holds that office at the time
the Note is authenticated, the Note will still be valid. 
 (b) A Note will not be valid until the Trustee manually signs the certificate of
authentication on the Note, with the signature conclusive evidence that the Note has been authenticated under this Indenture. 
 (c) At any
time and from time to time after the execution and delivery of this Indenture, the Company may deliver Notes executed by the Company to the Trustee for authentication. The Trustee will authenticate and deliver: 

(i) Initial Notes for original issue in the aggregate principal amount of $633,657,047, and 

(ii) Initial Additional Notes from time to time for original issue in aggregate principal amounts specified by the Company,

  
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 (iii) Exchange Notes from time to time for issue in exchange for a like principal
amount of Initial Notes or Initial Additional Notes, in each case after the following conditions have been met: 
 (A)
Receipt by the Trustee of an Officers’ Certificate specifying: 
 (1) the amount of Notes to be authenticated and the
date on which the Notes are to be authenticated, 
 (2) whether the Notes are to be Initial Notes, Additional Notes or
Exchange Notes, 
 (3) in the case of Additional Notes, that the issuance of such Notes does not contravene any provision of
Article 4, 
 (4) whether the Notes are to be issued as one or more Global Notes or Certificated Notes, and 

(5) such other information the Company may determine to include or the Trustee may reasonably request; and 

(B) An Exchange Offer Registration Statement shall have become effective and the Exchange Offer thereunder shall have been
consummated (and the Trustee shall have received an Officers’ Certificate stating as such). 
 Initial Notes or Initial Additional Notes exchanged for
Exchange Notes will be cancelled by the Trustee. 
 (d) The Initial Notes and any Additional Notes will be treated as a single class for all
purposes under this Indenture and will vote together as one class on all matters; provided that if the Additional Notes are not fungible with the Initial Notes for U.S. federal income tax purposes, the Additional Notes will have a separate CUSIP
number. 
 Section 2.03. Registrar, Paying Agent and Authenticating Agent; Paying Agent to Hold Money in Trust. (a) The
Company may appoint one or more Registrars and one or more Paying Agents, and the Trustee may appoint an Authenticating Agent, in which case each reference in this Indenture to the Trustee in respect of the obligations of the Trustee to be performed
by that Agent will be deemed to be references to the Agent. The Company may act as Registrar or (except for purposes of Article 8) Paying Agent. In each case the Company and the Trustee will enter into an agreement with the Agent implementing
the provisions of this Indenture relating to the obligations of the Trustee to be performed by the Agent and the related rights. The Company initially appoints the Trustee as Registrar and Paying Agent, and the Trustee accepts such appointment. 

(b) The Company will require each Paying Agent other than the Trustee or the Company or an Affiliate of the Company to agree in writing that
the Paying Agent will hold in 

  
 37 

 
trust for the benefit of the Holders or the Trustee all money held by the Paying Agent for the payment of principal of and interest on the Notes and will promptly notify the Trustee of any
default by the Company in making any such payment. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee and account for any funds disbursed, and the Trustee may at any time during the continuance of any
payment default in respect of the Notes, upon written request to a Paying Agent, require the Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed. Upon doing so, the Paying Agent will have no further
liability for the money so paid over to the Trustee. 
 Section 2.04. Replacement Notes. If a mutilated Note is surrendered to
the Trustee or if a Holder claims that its Note has been lost, destroyed or wrongfully taken, the Company will issue and the Trustee will authenticate a replacement Note of like tenor and principal amount and bearing a number not contemporaneously
outstanding. Every replacement Note is an additional obligation of the Company and entitled to the benefits of this Indenture. If required by the Trustee or the Company, an indemnity or security must be furnished that is sufficient in the judgment
of the Trustee to protect itself and in the judgment of the Company to protect the Company and the Trustee from any loss they may suffer if a Note is replaced. The Company and the Trustee may charge the Holder for the expenses of the Company and the
Trustee in replacing a Note. In case the mutilated, lost, destroyed or wrongfully taken Note has become or is about to become due and payable, the Company in its discretion may pay the Note instead of issuing a replacement Note. 

Section 2.05. Outstanding Notes. (a) Notes outstanding at any time are all Notes that have been authenticated by the Trustee
except for 
 (i) Notes cancelled by the Trustee or delivered to it for cancellation; 

(ii) any Note which has been replaced pursuant to Section 2.04 unless and until the Trustee and the Company receive proof
satisfactory to them that the replaced Note is held by a protected purchaser; and 
 (iii) on or after the maturity date or
any redemption date or date for purchase of the Notes pursuant to a Change of Control Offer or Asset Sale Offer, those Notes payable or to be redeemed or purchased on that date for which the Trustee (or Paying Agent, other than the Company or an
Affiliate of the Company) holds money sufficient to pay all amounts then due. 
 (b) A Note does not cease to be outstanding because the
Company or one of its Affiliates holds the Note; provided that in determining whether the Holders of the requisite principal amount of the outstanding Notes have given or taken any request, demand, authorization, direction, notice, consent,
waiver or other action hereunder, Notes owned by the Company or any Affiliate of the Company will be disregarded and deemed not to be outstanding (it being understood that in determining whether the Trustee is protected in relying upon any such
request, demand, authorization, direction, notice, consent, waiver or other action, only Notes which the Trustee knows to be so owned will be so disregarded). Notes so owned by the Company or an Affiliate of the Company which have been pledged in
good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with respect to such Notes and that the pledgee is not the Company or any Affiliate of the Company. 

  
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 Section 2.06. Temporary Notes. Until definitive Notes are ready for delivery, the
Company may prepare and the Trustee will authenticate temporary Notes. Temporary Notes will be substantially in the form of definitive Notes but may have insertions, substitutions, omissions and other variations determined to be appropriate by the
Officer executing the temporary Notes, as evidenced by the execution of the temporary Notes. If temporary Notes are issued, the Company will cause definitive Notes to be prepared without unreasonable delay. After the preparation of definitive Notes,
the temporary Notes will be exchangeable for definitive Notes upon surrender of the temporary Notes at the office or agency of the Company designated for the purpose pursuant to Section 4.02, without charge to the Holder. Upon surrender for
cancellation of any temporary Notes the Company will execute and the Trustee will authenticate and deliver in exchange therefor a like principal amount of definitive Notes of authorized denominations. Until so exchanged, the temporary Notes will be
entitled to the same benefits under this Indenture as definitive Notes. 
 Section 2.07. Cancellation. The Company at any time
may deliver to the Trustee for cancellation any Notes previously authenticated and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Trustee for cancellation any Notes previously authenticated
hereunder which the Company has not issued and sold. Any Registrar or the Paying Agent will forward to the Trustee any Notes surrendered to it for transfer, exchange or payment. The Trustee will cancel all Notes surrendered for transfer, exchange,
payment or cancellation and dispose of them in accordance with its normal procedures. The Company may not issue new Notes to replace Notes it has paid in full or delivered to the Trustee for cancellation. 

Section 2.08. CUSIP and CINS Numbers. The Company in issuing the Notes may use “CUSIP” and “CINS” numbers, and
the Trustee will use CUSIP numbers or CINS numbers in notices of redemption or exchange or in Change of Control Offers and Asset Sale Offers as a convenience to Holders, the notice to state that no representation is made as to the correctness of
such numbers either as printed on the Notes or as contained in any notice of redemption or exchange or offer to purchase. The Company will promptly notify the Trustee of any change in the CUSIP or CINS numbers. 

Section 2.09. Registration, Transfer and Exchange. The Notes will be issued in registered form only, without coupons, and the
Company shall cause the Trustee to maintain a register (the “Register”) of the Notes, for registering the record ownership of the Notes by the Holders and transfers and exchanges of the Notes. 

(a) (i) Each Global Note will be registered in the name of the Depositary or its nominee and, so long as DTC is serving as the Depositary
thereof, will bear the DTC Legend. 
 (ii) Each Global Note will be delivered to the Trustee as custodian for the Depositary.
Transfers of a Global Note (but not a beneficial interest therein) will be limited to transfers thereof in whole, but not in part, to the Depositary, its successors or their respective nominees, except as set forth in Section 2.09(a)(v). 

  
 39 

 (iii) Agent Members will have no rights under this Indenture with respect to any
Global Note held on their behalf by the Depositary, and the Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner and Holder of such Global Note for all purposes whatsoever. Neither
the Company, any Subsidiary Guarantor, the Trustee nor any of their respective agents has or will have any responsibility for: 

(A) Any aspect of the records of the Depositary, any Agent Member, or anyone who clears through or maintains an account with
an Agent Member relating to or payments made on account of beneficial ownership interest in the Global Note or for maintaining, supervising or reviewing any of the records of the Depositary, any Agent Member or anyone who clears through or maintains
an account with an Agent Member relating to the beneficial ownership interests in the Global Note; 
 (B) Any delay by the
Depositary or any of its Agent Members in identifying the beneficial owners of the Notes (and the Company, any Subsidiary Guarantor, the Trustee and any of their respective agents may conclusively rely on and will be protected in relying on
instructions from the Depositary or its nominee for all purposes); or 
 (C) Any other matter relating to the actions and
practices of the Depositary, any Agent Members or anyone who clears through or maintains an account with an Agent Member. 

(iv) Notwithstanding the foregoing, the Depositary or its nominee may grant proxies and otherwise authorize any Person
(including any Agent Member and any Person that holds a beneficial interest in a Global Note through an Agent Member) to take any action which a Holder is entitled to take under this Indenture or the Notes, and nothing herein will impair, as between
the Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of a holder of any security. 

(v) If 

(A) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for a Global Note or has
ceased to be a clearing agency registered under the Exchange Act and, in either case, a successor Depositary is not appointed by the Company within 90 days after the date of such notice from the Depositary; or 

(B) a Default or Event of Default has occurred and is continuing and the Depositary notifies the Trustee of its decision to
exchange the Global Notes for Certificated Notes, 

  
 40 

 the Trustee will promptly exchange each beneficial interest in the Global Note for one or more Certificated Notes
issued in exchange by the Company in authorized denominations having an equal aggregate principal amount registered in the name of the owner of such beneficial interest, as identified to the Trustee by the Depositary, and thereupon the Global Note
will be deemed canceled. If such Note does not bear the Restricted Legend, then the Certificated Notes issued in exchange therefor will not bear the Restricted Legend. If such Note bears the Restricted Legend, then the Certificated Notes issued in
exchange therefor will bear the Restricted Legend,  provided that any Holder of any such Certificated Note issued in exchange for a beneficial interest in an Offshore Global Note will have the right upon presentation to the Trustee of
any applicable certificate required under this Indenture after the Restricted Period to exchange such Certificated Note for a Certificated Note of like tenor and amount that does not bear the Restricted Legend, registered in the name of such Holder.

 (b) Each Certificated Note will be registered in the name of the holder thereof or its nominee. 

(c) A Holder may transfer a Note (or a beneficial interest therein) to another Person or exchange a Note (or a beneficial interest therein)
for another Note or Notes of any authorized denomination by presenting to the Trustee a written request therefor stating the name of the proposed transferee or requesting such an exchange, accompanied by any certification, opinion or other document
required by Section 2.10. The Trustee will promptly register any transfer or exchange that meets the requirements of this Section by noting the same in the register maintained by the Trustee for the purpose; provided that 

(x) no transfer or exchange will be effective until it is registered in such register and 

(y) the Trustee will not be required (i) to issue, register the transfer of or exchange any Note for a period of 15 days
before a selection of Notes to be redeemed or purchased pursuant to a Change of Control Offer or an Asset Sale Offer, (ii) to register the transfer of or exchange any Note so selected for redemption or purchase in whole or in part, except, in
the case of a partial redemption or purchase, that portion of any Note not being redeemed or purchased, or (iii) if a redemption or a purchase pursuant to a Change of Control Offer or an Asset Sale Offer is to occur after a Regular Record Date
but on or before the corresponding Interest Payment Date, to register the transfer of or exchange any Note on or after the Regular Record Date and before the date of redemption or purchase. Prior to the registration of any transfer, the Company, the
Trustee and their agents will treat the Person in whose name the Note is registered as the owner and Holder thereof for all purposes (whether or not the Note is overdue), and will not be affected by notice to the contrary. 

From time to time the Company will execute and the Trustee will authenticate additional Notes as necessary in order to permit the registration
of a transfer or exchange in accordance with this Section. 
 No service charge will be imposed in connection with any transfer or exchange
of any Note, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than a transfer tax or other similar governmental charge payable upon exchange
pursuant to subsection (a)(v)). 

  
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 (d) (i) Global Note to Global Note. If a beneficial interest in a Global Note is
transferred or exchanged for a beneficial interest in another Global Note, the Trustee will (x) record a decrease in the principal amount of the Global Note being transferred or exchanged equal to the principal amount of such transfer or
exchange and (y) record a like increase in the principal amount of the other Global Note. Any beneficial interest in one Global Note that is transferred to a Person who takes delivery in the form of an interest in another Global Note, or
exchanged for an interest in another Global Note, will, upon transfer or exchange, cease to be an interest in such Global Note and become an interest in the other Global Note and, accordingly, will thereafter be subject to all transfer and exchange
restrictions, if any, and other procedures applicable to beneficial interests in such other Global Note for as long as it remains such an interest. 

(ii) Global Note to Certificated Note. If a beneficial interest in a Global Note is transferred or exchanged for a
Certificated Note, the Trustee will (x) record a decrease in the principal amount of such Global Note equal to the principal amount of such transfer or exchange and (y) deliver one or more new Certificated Notes in authorized denominations
having an equal aggregate principal amount to the transferee (in the case of a transfer) or the owner of such beneficial interest (in the case of an exchange), registered in the name of such transferee or owner, as applicable. 

(iii) Certificated Note to Global Note. If a Certificated Note is transferred or exchanged for a beneficial interest in
a Global Note, the Trustee will (x) cancel such Certificated Note, (y) record an increase in the principal amount of such Global Note equal to the principal amount of such transfer or exchange and (z) in the event that such transfer
or exchange involves less than the entire principal amount of the canceled Certificated Note, deliver to the Holder thereof one or more new Certificated Notes in authorized denominations having an aggregate principal amount equal to the
untransferred or unexchanged portion of the canceled Certificated Note, registered in the name of the Holder thereof. 
 (iv)
Certificated Note to Certificated Note. If a Certificated Note is transferred or exchanged for another Certificated Note, the Trustee will (x) cancel the Certificated Note being transferred or exchanged, (y) deliver one or more new
Certificated Notes in authorized denominations having an aggregate principal amount equal to the principal amount of such transfer or exchange to the transferee (in the case of a transfer) or the Holder of the canceled Certificated Note (in the case
of an exchange), registered in the name of such transferee or Holder, as applicable, and (z) if such transfer or exchange involves less than the entire principal amount of the canceled Certificated Note, deliver to the Holder thereof one or
more Certificated Notes in authorized denominations having an aggregate principal amount equal to the untransferred or unexchanged portion of the canceled Certificated Note, registered in the name of the Holder thereof. 

  
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 Section 2.10. Restrictions on Transfer and Exchange. The transfer or exchange of any
Note (or a beneficial interest therein) may only be made in accordance with this Section and Section 2.09 and, in the case of a Global Note (or a beneficial interest therein), the applicable rules and procedures of the Depositary. The Trustee
shall refuse to register any requested transfer or exchange that the Trustee knows does not comply with the preceding sentence. 
 (a)
Subject to paragraph (b), the transfer or exchange of any Note (or a beneficial interest therein) of the type set forth in column A below for a Note (or a beneficial interest therein) of the type set forth opposite in column B below may only be made
in compliance with the certification requirements (if any) described in the clause of this paragraph set forth opposite in column C below. 
  

					
	A                                   
     	  	B                                   
     	  	C
			
	U.S. Global Note	  	U.S. Global Note	  	(i)
	U.S. Global Note	  	Offshore Global Note	  	(ii)
	U.S. Global Note	  	Certificated Note	  	(iii)
	Offshore Global Note	  	U.S. Global Note	  	(iv)
	Offshore Global Note	  	Offshore Global Note	  	(i)
	Offshore Global Note	  	Certificated Note	  	(v)
	Certificated Note	  	U.S. Global Note	  	(iv)
	Certificated Note	  	Offshore Global Note	  	(ii)
	Certificated Note	  	Certificated Note	  	(iii)

 (i) No certification is required. 

(ii) The Person requesting the transfer or exchange must deliver or cause to be delivered to the Trustee a duly completed
Regulation S Certificate; provided that if the requested transfer or exchange is made by the Holder of a Certificated Note that does not bear the Restricted Legend, then no certification is required. 

(iii) The Person requesting the transfer or exchange must deliver or cause to be delivered to the Trustee (x) a duly
completed Rule 144A Certificate, (y) a duly completed Regulation S Certificate or (z) a duly completed Institutional Accredited Investor Certificate, and/or an Opinion of Counsel and such other certifications and evidence as the Company
may reasonably require in order to determine that the proposed transfer or exchange is being made in compliance with the Securities Act and any applicable securities laws of any state of the United States; provided that if the requested
transfer or exchange is made by the Holder of a Certificated Note that does not bear the Restricted Legend, then no certification is required. In the event that (i) the requested transfer or exchange takes place after the expiration of the
Restricted Period and a duly completed Regulation S Certificate is delivered to the Trustee or (ii) a Certificated Note that does not bear the Restricted Legend is surrendered for transfer or exchange, upon transfer or exchange the Trustee will
deliver a Certificated Note that does not bear the Restricted Legend. 

  
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 (iv) The Person requesting the transfer or exchange must deliver or cause to be
delivered to the Trustee a duly completed Rule 144A Certificate. 
 (v) In the event that the requested transfer or exchange
takes place prior to the expiration of the Restricted Period, the Person requesting the transfer must deliver or cause to be delivered to the Trustee (x) a duly completed Rule 144A Certificate or (y) a duly completed Institutional
Accredited Investor Certificate and/or an Opinion of Counsel and such other certifications and evidence as the Company may reasonably require in order to determine that the proposed transfer is being made in compliance with the Securities Act and
any applicable securities laws of any state of the United States. If the requested transfer or exchange takes place after the expiration of the Restricted Period, no certification is required and the Trustee will deliver a Certificated Note that
does not bear the Restricted Legend. 
 (b) No certification is required in connection with any transfer or exchange of any Note (or a
beneficial interest therein) 
 (i) after such Note is eligible for resale pursuant to Rule 144 under the Securities Act (or
a successor provision) without the need for current public information; provided that the Company has provided the Trustee with an Officers’ Certificate to that effect, and the Company may require from any Person requesting a transfer or
exchange in reliance upon this clause (1) an opinion of counsel and any other reasonable certifications and evidence in order to support such certificate; or 

(ii) (x) sold pursuant to an effective registration statement, pursuant to a Registration Rights Agreement or otherwise or
(y) which is validly tendered for exchange into an Exchange Note pursuant to an Exchange Offer. 
 Any Certificated Note delivered in
reliance upon this paragraph will not bear the Restricted Legend. 
 (c) The Trustee will retain copies of all certificates, opinions and
other documents received in connection with the transfer or exchange of a Note (or a beneficial interest therein), and the Company will have the right to inspect and make copies thereof at any reasonable time upon written notice to the Trustee. 

ARTICLE 3 
 REDEMPTION

 Section 3.01. Optional Redemption. (a) Except as described below or in Section 4.11, the Notes are not
redeemable until April 1, 2018. On and after April 1, 2018, the Company may redeem all or a part of the Notes, from time to time, at the following redemption prices (expressed as a percentage of principal amount) plus accrued and unpaid
interest, if any, on the Notes redeemed to the applicable redemption date (subject to the rights of Holders of Notes on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date), if redeemed during the
twelve-month period beginning on April 1 of the years indicated below: 
  

					
	 Year
	  	Percentage	 
	 2018
	  	 	108.000	% 
	 2019
	  	 	104.000	% 
	 2020 and thereafter
	  	 	100.000	% 

  
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 (b) At any time or from time to time prior to April 1, 2018, the Company may also redeem all
or a part of the Notes at a redemption price equal to the Make-Whole Price, subject to the rights of Holders of Notes on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date. 

Section 3.02. Redemption with Proceeds of Equity Issuance. (a) Prior to April 1, 2018, the Company may on any one or
more occasions redeem up to 35% of the principal amount of the Notes with all or a portion of the net cash proceeds of one or more Equity Issuances at a redemption price equal to 108.00% of the principal amount thereof, plus accrued and unpaid
interest, if any, on the Notes redeemed to the redemption date (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date); provided that 

(i) at least 65% of the aggregate principal amount of the Notes originally issued under the Indenture (including Additional
Notes, but excluding Notes held by the Company and its Subsidiaries) remains outstanding after each such redemption; and 

(ii) the redemption occurs within 90 days after the closing of such Equity Issuance. 

Section 3.03. Method and Effect of Redemption. 

(a) If the Company elects to redeem Notes, it must notify the Trustee of the redemption date and the principal amount of Notes to be redeemed
by delivering an Officers’ Certificate at least 60 days before the redemption date (unless a shorter period is satisfactory to the Trustee). If fewer than all of the Notes are being redeemed, the Officers’ Certificate must also specify a
record date not less than 15 days after the date of the notice of redemption is given to the Trustee, and the Trustee will select the Notes to be redeemed on a pro rata basis, subject to adjustments so that no Notes are redeemed in an unauthorized
denomination (or, in the case of Global Notes, the Notes to be redeemed will be selected in accordance with the Depositary’s applicable procedures), unless otherwise required by law or applicable stock exchange requirements. Notes redeemed in
part must be redeemed in denominations of $2,000 principal amount and higher integral multiples of $1 (subject to the procedures of the Depositary). The Trustee will notify the Company promptly of the Notes or portions of Notes to be called for
redemption. Notices of redemption must be sent by the Company or at the Company’s request, by the Trustee in the name and at the expense of the Company, to Holders whose Notes are to be redeemed at least 30 days but not more than 60 days before
the redemption date in the case of Global Notes, to the Depositary in accordance with the procedures of the Depositary and in the case of certificated Notes, by first class mail, or delivered electronically if held at DTC, to each Holder of Notes to
be redeemed at its registered address, except notices of redemption may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture.

  
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 (b) The notice of redemption will identify the Notes to be redeemed and will include or state the
following: 
 (i) the redemption date; 

(ii) the redemption price, or the method by which it will be calculated; 

(iii) the place or places where Notes are to be surrendered for redemption; 

(iv) Notes called for redemption must be so surrendered in order to collect the redemption price; 

(v) on the redemption date the redemption price will become due and payable on Notes called for redemption, and interest on
Notes called for redemption will cease to accrue on and after the redemption date; 
 (vi) if any Note is redeemed in part,
the portion of the principal amount of such Note to be redeemed and that, on and after the redemption date, upon surrender of such Note, new Notes equal in principal amount to the unredeemed portion will be issued in the name of the Holder thereof
upon cancellation of the original Note; and 
 (vii) if any Note contains a CUSIP or CINS number, no representation is being
made as to the correctness of the CUSIP or CINS number either as printed on the Notes or as contained in the notice of redemption and that the Holder should rely only on the other identification numbers printed on the Notes. 

(c) At the Company’s request, the Trustee shall give the notice of redemption in the Company’s name and at the Company’s
expense; provided that the Company shall have delivered to the Trustee, at least 45 days prior to the redemption date (or such shorter period of time, subject to Section 3.03(a), as may be acceptable to the Trustee), an Officers’
Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in this Section. 

(d) Once notice of redemption is sent to the Holders, Notes called for redemption become due and payable at the redemption price on the
redemption date. Notices of redemption may not be subject to conditions precedent. Upon surrender of any Note redeemed in part, the Holder will receive a new Note equal in principal amount to the unredeemed portion of the surrendered Note. 

(e) Unless the Company defaults in the payment of the redemption price, interest, if any, will cease to accrue on the Notes or portions
thereof called for redemption on the applicable redemption date. 

  
 46 

 ARTICLE 4 

COVENANTS 

Section 4.01. Payment of Notes. (a) The Company agrees to pay the principal of and interest on the Notes on the dates and in
the manner provided in the Notes and this Indenture. Not later than 10:00 A.M. (New York City time) on the due date of any principal of or interest on any Notes, or any redemption or purchase price of the Notes, the Company will deposit with the
Trustee (or Paying Agent) money in immediately available funds sufficient to pay such amounts, provided that, if the Company or any Affiliate of the Company is acting as Paying Agent, it will, on or before each due date, segregate and hold in
a separate trust fund for the benefit of the Holders a sum of money sufficient to pay such amounts until paid to such Holders or otherwise disposed of as provided in this Indenture. In each case the Company will promptly notify the Trustee of its
compliance with this paragraph. 
 (b) An installment of principal or interest will be considered paid on the date due if the Trustee (or
Paying Agent, other than the Company or any Affiliate of the Company) holds on that date money designated for and sufficient to pay the installment. If the Company or any Affiliate of the Company acts as Paying Agent, an installment of principal or
interest will be considered paid on the due date only if paid to the Holders. 
 (c) The Company agrees to pay interest on overdue principal
and, to the extent lawful, overdue installments of interest at the rate per annum specified in the Notes. 
 (d) Payments in respect of the
Notes represented by the Global Notes are to be made by wire transfer of immediately available funds to the accounts specified by the Holders of the Global Notes. With respect to Certificated Notes, the Company will, through its Paying Agent, make
all payments by wire transfer of immediately available funds to the accounts specified by the Holders thereof or, if no such account is specified, by mailing a check to each Holder’s registered address. 

Section 4.02. Maintenance of Office or Agency. The Company will maintain in the United States an office or agency where Notes may
be surrendered for registration of transfer or exchange or for presentation for payment and where notices and demands (but not service of process) to or upon the Company in respect of the Notes and this Indenture may be served. The Company hereby
initially designates the Corporate Trust Office of the Trustee as such office of the Company. The Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the
Company fails to maintain any such required office or agency or fails to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served to the Trustee. 

The Company may also from time to time designate one or more other offices or agencies where the Notes may be surrendered or presented for any
of such purposes and may from time to time rescind such designations. Further, if at any time when Notes in certificated form are outstanding there shall be no such office or agency in the City of New York where such Notes may be presented or
surrendered for payment, the Company shall forthwith designate and maintain such an office or agency in the City of New York, in order that the Notes (after taking 

  
 47 

 
into consideration the payment requirements of DTC) shall at all times be payable in the City of New York. The Company will give prompt written notice to the Trustee of any such designation
or rescission and of any change in the location of any such other office or agency. 
 Section 4.03. Existence. The Company will
do or cause to be done all things necessary to preserve and keep in full force and effect its existence and the existence of each of its Restricted Subsidiaries in accordance with their respective organizational documents, and the material rights,
licenses and franchises of the Company and each Restricted Subsidiary, provided that the Company is not required to preserve any such right, license or franchise, or the existence of any Restricted Subsidiary, if the maintenance or
preservation thereof is, in the judgment of the Company, no longer desirable in the conduct of the business of the Company and its Restricted Subsidiaries taken as a whole; and provided further that this Section does not prohibit any
transaction otherwise permitted by Section 4.12 or Article 5. 
 Section 4.04. Payment of Taxes and Other Claims. The
Company will pay or discharge, and cause each of its Subsidiaries to pay or discharge before the same become delinquent (i) all material taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary or its
income or profits or property, and (ii) all material lawful claims for labor, materials and supplies that, if unpaid, might by law become a Lien upon the property of the Company or any Subsidiary, other than any such tax, assessment, charge or
claim the amount, applicability or validity of which is being contested in good faith by appropriate proceedings and for which adequate reserves have been established. 

Section 4.05. Maintenance of Properties and Insurance. (a) The Company will cause all material properties used or useful in
the conduct of its business or the business of any of its Restricted Subsidiaries to be maintained and kept in good condition, repair and working order as in the judgment of the Company may be necessary so that the business of the Company and its
Restricted Subsidiaries may be properly and advantageously conducted at all times; provided that nothing in this Section prevents the Company or any Restricted Subsidiary from discontinuing the use, operation or maintenance of any of such
properties or disposing of any of them, if such discontinuance or disposal is, in the judgment of the Company, desirable in the conduct of the business of the Company and its Restricted Subsidiaries taken as a whole. 

(b) The Company will provide or cause to be provided, for itself and its Restricted Subsidiaries, insurance (including appropriate
self-insurance) against loss or damage of the kinds customarily insured against by corporations similarly situated and owning like properties with reputable insurers, in such amounts, with such deductibles and by such methods as are customary for
corporations similarly situated in the industry in which the Company and its Restricted Subsidiaries are then conducting business. 

Section 4.06. Incurrence of Indebtedness and Issuance of Preferred Stock. (a) The Company will not, and will not permit any
of its Restricted Subsidiaries to directly or indirectly create, incur, issue, assume, Guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur;” with
“incurrence” having a correlative meaning) any Indebtedness (including Acquired Debt), and the Company will not issue any Disqualified Stock and will not permit any of its Restricted Subsidiaries to issue any preferred stock;
provided that the Company may incur Indebtedness (including Acquired Debt) 

  
 48 

 
and issue Disqualified Stock, and Subsidiary Guarantors may incur Indebtedness (including Acquired Debt) and issue preferred stock, if the Company’s Fixed Charge Coverage Ratio for its
most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is incurred or such Disqualified Stock or preferred stock is issued, as the case
may be, would have been at least 2.25 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred or the Disqualified Stock or preferred stock had
been issued, as the case may be, at the beginning of such four-quarter period. 
 (b) Notwithstanding the foregoing, paragraph (a) of
this Section 4.06 will not prohibit the incurrence of any of the following items of Indebtedness or the issuance of any Disqualified Stock or preferred stock described below (collectively, “Permitted Debt”): 

(i) the incurrence by the Company and any Restricted Subsidiary of Indebtedness under Credit Facilities, and any Guarantees
thereof, in an aggregate outstanding principal amount of which does not exceed the greater of: 
 (A) $250 million, and 

(B) a principal amount of such Indebtedness such that, after giving pro forma effect to the incurrence thereof, the PV-10
Value of the Company’s and its Subsidiaries’ Proved Developed Producing Reserves, determined with respect to the date on which such Indebtedness is incurred, is equal to at least 135% of the principal amount of such Indebtedness; 

(ii) the incurrence by the Company and its Restricted Subsidiaries of Existing Indebtedness; 

(iii) the incurrence by the Company and the Subsidiary Guarantors of: 

(A) Indebtedness represented by the Notes issued on the Issue Date and the Exchange Notes and the related Subsidiary
Guarantees to be issued pursuant to the Registration Rights Agreement in exchange therefor, and 
 (B) Indebtedness
represented by Exchange Notes and the related Subsidiary Guarantees issued pursuant to a Registration Rights Agreement in exchange for Additional Initial Notes, the incurrence of which was, at the time of the issuance of such Additional Initial
Notes, permitted hereunder; 
 (iv) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness
represented by Capital Lease Obligations, mortgage financings or purchase money obligations, in each case, incurred for the purpose of financing all or any part of the purchase price or cost of design, construction, installation, improvement,
deployment, refurbishment or modification of property, plant or equipment or furniture, fixtures and equipment, in each case, used in the business of the Company or any of its Restricted Subsidiaries, in an aggregate principal amount at any time
outstanding, including all Permitted Refinancing Indebtedness incurred to extend, renew, refund, refinance, replace, defease, discharge or otherwise retire for value any 

  
 49 

 
Indebtedness incurred pursuant to this clause (iv), not to exceed the greater of (A) $15 million and (B) 2.0% of Adjusted Consolidated Net Tangible Assets of the Company,
determined as of the date of the incurrence of such Indebtedness; 
 (v) the incurrence or issuance by the Company or any of
its Restricted Subsidiaries of Permitted Refinancing Indebtedness in exchange for, or the net proceeds of which are used to extend, renew, refund, refinance, replace, defease, discharge or otherwise retire for value any Indebtedness (other than
intercompany Indebtedness) or Disqualified Stock of the Company, or Indebtedness (other than intercompany Indebtedness) or preferred stock of any Restricted Subsidiary, in each case that was permitted by this Indenture to be incurred or issued under
paragraph (a) of this Section 4.06 clauses (ii), (iii), or (x) of this paragraph (b) or this clause (v); 

(vi) the incurrence by the Company or any of its Restricted Subsidiaries of intercompany Indebtedness between or among the
Company and any of its Restricted Subsidiaries; provided that (A) if the Company or any Subsidiary Guarantor is the obligor on such Indebtedness and the payee is not the Company or a Subsidiary Guarantor, such Indebtedness must be
unsecured and expressly subordinated to the prior payment in full in cash of all obligations then due with respect to the Notes, in the case of the Company, or the Subsidiary Guarantee, in the case of a Subsidiary Guarantor; and
(B) (i) any subsequent issuance or transfer of Equity Interests that results in any such Indebtedness being held by a Person other than the Company or a Restricted Subsidiary and (ii) any sale or other transfer of any such
Indebtedness to a Person that is not either the Company or a Restricted Subsidiary will be deemed, in each case, to constitute an incurrence of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be, that was not
permitted by this clause (vi); 
 (vii) the issuance by any of the Company’s Restricted Subsidiaries to the Company
or to any of its Restricted Subsidiaries of any preferred stock; provided that: 
 (A) any subsequent issuance or
transfer of Equity Interests that results in any such preferred stock being held by a Person other than the Company or a Restricted Subsidiary; and 

(B) any sale or other transfer of any such preferred stock to a Person that is not either the Company or a Restricted
Subsidiary, will be deemed, in each case, to constitute an issuance of such preferred stock by such Restricted Subsidiary that was not permitted by this clause (vii); 

(viii) the incurrence of obligations of the Company or a Restricted Subsidiary pursuant to Hedging Obligations entered into in
the ordinary course of business and not for speculative purposes; 
 (ix) the Guarantee by the Company or any of its
Restricted Subsidiaries of Indebtedness of the Company or a Restricted Subsidiary that was permitted to be incurred by this Section 4.06; provided that in the case of a Guarantee by a Restricted

  
 50 

 
Subsidiary that is not a Subsidiary Guarantor, such Restricted Subsidiary would have been permitted to incur the Indebtedness being Guaranteed under this covenant, and provided further
that if the Indebtedness being Guaranteed is subordinated to or pari passu with the Notes, then the Guarantee shall be subordinated or pari passu, as applicable, to the same extent as the Indebtedness Guaranteed; 

(x) the incurrence by the Company or any Restricted Subsidiary of Permitted Acquisition Indebtedness; 

(xi) the incurrence by the Company or any Restricted Subsidiary of Indebtedness arising from the honoring by a bank or other
financial institution of a check, draft or similar instrument inadvertently drawn against insufficient funds, so long as such Indebtedness is covered within five Business Days; 

(xii) the incurrence by the Company or any Restricted Subsidiary of Indebtedness consisting of the financing of insurance
premiums in customary amounts consistent with the operations and business of the Company and its Restricted Subsidiaries; 

(xiii) the incurrence of in-kind obligations relating to net oil and natural gas balancing positions arising in the ordinary
course of business; 
 (xiv) the incurrence of any obligations in respect of completion bonds, performance bonds, bid bonds,
appeal bonds, surety bonds, bankers acceptances, letters of credit, insurance obligations or bonds and other similar bonds and obligations incurred by the Company or any Restricted Subsidiary in the ordinary course of business and any Guarantees or
letters of credit functioning as or supporting any of the foregoing bonds or obligations; 
 (xv) the incurrence of any
obligation arising from agreements of the Company or a Restricted Subsidiary providing for indemnification, Guarantee, adjustment of purchase price, holdback, contingency payment obligation based on the performance of the acquired or disposed asset
or similar obligations, in each case, incurred or assumed in connection with the acquisition or disposition of any business, asset or Equity Interests of a Restricted Subsidiary; 

(xvi) the incurrence by the Company or any of the Restricted Subsidiaries of Bank Product Obligations; and 

(xvii) the incurrence by the Company or any of the Restricted Subsidiaries of Indebtedness in an aggregate principal amount
outstanding on any date that does not exceed the greater of (a) $15 million and (b) 2.0% of Adjusted Consolidated Net Tangible Assets of the Company, determined as of the date of the incurrence of such Indebtedness after giving pro forma
effect to such incurrence and the application of the proceeds therefrom. 
 (c) The Company will not incur, and will not permit any
Subsidiary Guarantor to incur, any Indebtedness (including Permitted Debt) that is subordinated (either in respect of 

  
 51 

 
liens or contractually in right of payment) to any other Indebtedness of the Company or such Subsidiary Guarantor unless such Indebtedness is also subordinated (in respect of liens or
contractually in right of payment, as applicable) to the Notes and the applicable Subsidiary Guarantee, on substantially identical terms; provided that no Indebtedness will be deemed to be contractually subordinated (either in respect of
liens or contractually in right of payment) to any other Indebtedness of the Company solely by virtue of being unsecured. 
 (d) For
purposes of determining compliance with this Section 4.06, (1) in the event that an item of proposed Indebtedness, Disqualified Stock or preferred stock meets the criteria of more than one of the categories of Permitted Debt described in
clauses (ii) through (xvii) of paragraph (b), or is entitled to be incurred or issued pursuant to paragraph (a), the Company will be permitted to divide and classify such item on the date of its incurrence or issuance, or later divide and
reclassify all or a portion of such item, in any manner that complies with this Section 4.06, Indebtedness incurred under clause (i) of paragraph (b) above may not be reclassified. The accrual of interest, the accretion or
amortization of original issue discount, the payment of interest on any Indebtedness in the form of additional Indebtedness with the same terms, the reclassification of preferred stock as Indebtedness due to a change in accounting principles,
fluctuations in the termination value of Hedging Obligations, and the payment of dividends on Disqualified Stock or preferred stock in the form of additional Disqualified Stock or preferred stock of the same class will be deemed not to be an
incurrence of Indebtedness or an issuance of Disqualified Stock or preferred stock for purposes of this Section 4.06;  provided, in each such case, that the amount of any such accrual, accretion or payment is included in
Fixed Charges of the Company as accrued. 
 (e) For purposes of determining compliance with any U.S. dollar-denominated restriction on the
incurrence of Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred, in the
case of term Indebtedness, or first committed, in the case of revolving credit Indebtedness; provided that if such Indebtedness is incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause
the applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-denominated restriction shall be deemed not to have been exceeded so
long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. Notwithstanding any other provision of this Section 4.06, the maximum amount of Indebtedness that the
Company or any Restricted Subsidiary may incur pursuant to this Section 4.06 shall not be deemed to be exceeded solely as a result of fluctuations in the exchange rate of currencies. 

Section 4.07. Restricted Payments. (a) The Company will not, and will not permit any of its Restricted Subsidiaries to,
directly or indirectly: 
 (i) declare or pay any dividend or make any other payment or distribution on account of the
Company’s or any of its Restricted Subsidiaries’ Equity Interests (including, without limitation, any payment in connection with any merger or consolidation involving the Company or any of its Restricted Subsidiaries) or to the direct or
indirect holders of the Company’s or any of its Restricted Subsidiaries’ Equity 

  
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Interests in their capacity as such (other than dividends or distributions payable in Equity Interests (other than Disqualified Stock) of the Company and other than dividends or distributions
payable to the Company or any Restricted Subsidiary); 
 (ii) purchase, redeem or otherwise acquire or retire for value
(including, without limitation, any such purchase, redemption, acquisition or retirement made in connection with any merger or consolidation involving the Company) any Equity Interests of the Company or any direct or indirect parent company of the
Company; 
 (iii) make any payment on or with respect to, or purchase, redeem, prepay, defease or otherwise acquire or retire
for value any unsecured Indebtedness described in clause (1), (2), (3) or (8) of the definition thereof or Subordinated Debt, except a payment of interest or principal (or, in the case of any Disqualified Stock, any dividend or
distribution in respect of capital) at or within three Business Days prior to or after the Stated Maturity thereof (excluding (A) any intercompany Indebtedness between or among the Company and any of its Restricted Subsidiaries or (B) the
purchase or other acquisition of any such Indebtedness acquired in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such purchase or other acquisition); or

 (iv) make any Restricted Investment; 

(all such payments and other actions set forth in clauses (i) through (iv) above being collectively referred to as “Restricted
Payments”), unless, at the time of and after giving effect to such Restricted Payment: 
 (A) no Default or Event
of Default has occurred and is continuing or would occur as a consequence of such Restricted Payment; 
 (B) the Company
would, at the time of such Restricted Payment and after giving pro forma effect thereto as if such Restricted Payment had been made at the beginning of the most recently ended four-quarter period, have been permitted to incur at least $1.00 of
additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.06(a); and 
 (C) such
Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Company and its Restricted Subsidiaries since the Issue Date (excluding Restricted Payments permitted by clauses (ii), (iii), (iv), (v), (vi),
(vii), (viii), (x), (xi) and (xiii) of paragraph (b) below), is equal to or less than the sum, without duplication, of: 

(1) 50% of the Consolidated Net Income of the Company for the period (taken as one accounting period) from January 1,
2016 to the end of the Company’s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, if such Consolidated Net Income for such period is a deficit, less 100% of
such deficit); plus 

  
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 (2) 100% of (i) (a) the aggregate net cash proceeds and (b) the
Fair Market Value of (x) marketable securities (other than marketable securities of the Company or an Affiliate of the Company), (y) Capital Stock of a Person (other than the Company or an Affiliate of the Company) engaged primarily in any
Related Business and (z) other assets used or useful in any Related Business, in each case received by the Company or a Restricted Subsidiary since the Issue Date as a contribution to the Company’s common equity capital or from the issue
or sale of Equity Interests of the Company (other than Disqualified Stock) or from the issue or sale of convertible or exchangeable Disqualified Stock or convertible or exchangeable debt securities of the Company that have been converted into or
exchanged for such Equity Interests (other than Equity Interests (or Disqualified Stock or debt securities) sold to a Subsidiary of the Company), (ii) with respect to Indebtedness that is incurred on or after the Issue Date, the amount by which
such Indebtedness of the Company or any of its Restricted Subsidiaries is reduced on the Company’s consolidated balance sheet upon the conversion or exchange after the Issue Date of any such Indebtedness into or for Equity Interests of the
Company (other than Disqualified Stock), and (iii) the aggregate net cash proceeds, if any, received by the Company or any of its Restricted Subsidiaries since the Issue Date upon any conversion or exchange described in clause (i) or
(ii) above; plus 
 (3) with respect to Restricted Investments made by the Company and its Restricted
Subsidiaries after the Issue Date, an amount equal to the sum, without duplication, of (i) the net reduction in such Restricted Investments in any Person resulting from (a) repayments of loans or advances, or other transfers of assets, in
each case to the Company or any Restricted Subsidiary, (b) other repurchases, repayments or redemptions of such Restricted Investments, (c) the sale of any such Restricted Investment to a purchaser other than the Company or a Subsidiary of
the Company or (d) the release of any Guarantee (except to the extent any amounts are paid under such Guarantee) that constituted a Restricted Investment plus (ii) with respect to any Unrestricted Subsidiary designated as such after the
Issue Date that is redesignated as a Restricted Subsidiary after the Issue Date, the Fair Market Value of the Company’s Investment in such Subsidiary held by the Company or any of its Restricted Subsidiaries at the time of such redesignation;
plus 
 (4) 100% of any dividends received by the Company or a Restricted Subsidiary after the Issue Date from an
Unrestricted Subsidiary, to the extent such dividends were not otherwise included in the Consolidated Net Income of the Company for such period. 

  
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 (b) The preceding provisions will not prohibit: 

(i) the payment of any dividend or the consummation of any irrevocable redemption within 60 days after the date of declaration
of the dividend or giving of the redemption notice, as the case may be, if at the date of declaration or notice, the dividend or redemption payment would have complied with the provisions of this Indenture; 

(ii) the making of any Restricted Payment in exchange for, or out of the net cash proceeds from the substantially concurrent
sale (other than to a Subsidiary of the Company) of, Equity Interests of the Company (other than Disqualified Stock and other than Equity Interests issued or sold to an employee stock ownership plan, option plan or similar trust to the extent such
sale to an employee stock ownership plan, option plan or similar trust is financed by loans from or Guaranteed by the Company or any of its Restricted Subsidiaries unless such loans have been repaid with cash on or prior to the date of
determination) or from the substantially concurrent contribution of common equity capital to the Company; provided that the amount of any such net cash proceeds that are utilized for any such Restricted Payment will be excluded from
clause (iii)(B) of paragraph (a) of this Section 4.07; 
 (iii) the purchase, redemption, defeasance or other
acquisition or retirement for value of unsecured Indebtedness or Subordinated Debt (including the payment of any required premium and any fees and expenses incurred in connection with such purchase, redemption, defeasance or other acquisition or
retirement) with the net cash proceeds from a substantially concurrent incurrence of Permitted Refinancing Indebtedness; 

(iv) purchases of Capital Stock deemed to occur upon the exercise of stock options if such Capital Stock represents a portion
of the exercise price thereof; 
 (v) payments to fund the purchase, redemption or other acquisition or retirement for value
by the Company of fractional Equity Interests arising out of stock dividends, splits or combinations, business combinations or other transactions permitted by this Indenture; 

(vi) the purchase, redemption or other acquisition or retirement for value of any Equity Interests of the Company or any
Restricted Subsidiary held by any of the Company’s (or any of its Restricted Subsidiaries’) current or former directors or employees on or after the Issue Date; provided that the aggregate price paid for all such purchased,
redeemed, acquired or retired Equity Interests may not exceed $2.5 million in the calendar year ended December 31, 2016 or any subsequent calendar year, with unused amounts being carried forward to future periods; 

(vii) as long as no Default has occurred and is continuing or would be caused thereby, the declaration and payment of regularly
scheduled or accrued dividends to holders of any class or series of Disqualified Stock of the Company or any class or series of preferred stock of any Restricted Subsidiary issued on or after the Issue Date in accordance with the Fixed Charge
Coverage Ratio test set forth in Section 4.06(a); 

  
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 (viii) the payment of any dividend (or, in the case of any partnership or limited
liability company, any similar distribution) by a Restricted Subsidiary to the holders of Equity Interests (other than Disqualified Stock) of such Restricted Subsidiary; provided that such dividend or similar distribution is paid to all
holders of such Equity Interests on a pro rata basis based on their respective holdings of such Equity Interests; 
 (ix)
purchases of unsecured Indebtedness or Subordinated Debt at a purchase price not greater than (A) 101% of the principal amount of such unsecured Indebtedness or Subordinated Debt and accrued and unpaid interest thereon in the event of a Change
of Control or (B) 100% of the principal amount of such unsecured Indebtedness or Subordinated Debt and accrued and unpaid interest thereon in the event of an Asset Sale in connection with any change of control offer or asset sale offer required
by the terms of such unsecured Indebtedness or Subordinated Debt, but only if: 
 (A) in the case of a Change of Control,
the Company has first offered to purchase the Notes and complied with and fully satisfied its other obligations under Section 4.11, including purchasing all Notes tendered in such offer; or 

(B) in the case of an Asset Sale, the Company has complied with and fully satisfied its obligations under Section 4.12,
including purchasing all Notes tendered in an Asset Sale Offer; 
 (x) payments or distributions to dissenting stockholders
pursuant to applicable law in connection with a merger, consolidation or transfer of all or substantially all of the assets of the Company that complies with Section 5.01; 

(xi) the payment of dividends to the holders of the Company’s Series A Preferred Stock outstanding on Issue Date in
accordance with the terms thereof in an aggregate amount not exceeding $12 million during any calendar year, commencing with the calendar year beginning on January 1, 2017; provided that cash payments under this clause (xi) may only
be made (A) on or after March 15, 2017 and (B) if the audit opinion with respect to the Company’s audited financial statements issued for the fiscal year ended December 31, 2016 or otherwise for the most recent subsequent
fiscal year for which audited financial statements have been issued is not qualified as to the status of the Company as a going concern; and 

(xii) as long as no Default has occurred and is continuing at the time of such Restricted Payment or would be caused thereby,
other Restricted Payments in an aggregate amount not to exceed $10 million since the Issue Date. 
 (c) The amount of all Restricted
Payments (other than cash) shall be the Fair Market Value, on the date of such Restricted Payment, of the Restricted Investment proposed to be made or the asset(s) or securities proposed to be paid, transferred or issued by the Company or such
Restricted Subsidiary, as the case may be, pursuant to such Restricted Payment. The Fair Market Value of any cash Restricted Payment shall be its face amount, and the Fair Market Value of any non-cash Restricted Payment shall be determined in
accordance with the definition of that term. 

  
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 (d) For purposes of determining compliance with this Section 4.07, in the event that a
Restricted Payment meets the criteria of more than one of the exceptions described in clauses (i) through (xiii) of paragraph (b) hereof or is entitled to be made pursuant to paragraph (a) hereof, the Company shall, in its sole
discretion, classify such Restricted Payment, or later classify, reclassify or re-divide all or a portion of such Restricted Payment, in any manner that complies with this Section 4.07. 

Section 4.08. Limitation on Liens. (a) The Company will not, and will not permit any of its Restricted Subsidiaries to,
directly or indirectly, create, incur or permit to exist any Lien, other than Permitted Liens, upon any of its property or assets (including Capital Stock and Indebtedness of any Subsidiaries of the Company and including any income or profits from
such property or assets), whether owned on the Issue Date or thereafter acquired, which Lien secures any Subordinated Debt or other Indebtedness. 

Section 4.09. Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries. (a) The Company will not, and will
not permit any of its Restricted Subsidiaries to, directly or indirectly, create or permit to exist or become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary to: 

(i) pay dividends or make any other distributions on its Capital Stock to the Company or any of its Restricted Subsidiaries, or
pay any Indebtedness owed to the Company or any of its Restricted Subsidiaries; 
 (ii) make loans or advances to the Company
or any of its Restricted Subsidiaries; or 
 (iii) sell, lease or transfer any of its properties or assets to the Company or
any of its Restricted Subsidiaries. 
 (b) The provisions of paragraph (a) will not apply to encumbrances or restrictions existing
under, by reason of or with respect to: 
 (i) the Senior Credit Agreement and any agreement entered into in connection
therewith in effect on the Issue Date and any amendments, restatements, modifications, renewals, extensions, supplements, increases, refundings, replacements or refinancings thereof; provided that the encumbrances and restrictions in any such
amendments, restatements, modifications, renewals, extensions, supplements, increases, refundings, replacements or refinancings are, in the reasonable good faith judgment of the Chief Executive Officer and the Chief Financial Officer of the Company,
no more restrictive, taken as a whole, than those contained in the applicable agreements or instruments as in effect on the Issue Date; 

(ii) the Note Documents; 

  
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 (iii) applicable law, rule, regulation, order, approval, permit or similar
restriction; 
 (iv) any instrument governing Indebtedness or Capital Stock of a Person acquired by the Company or any of its
Restricted Subsidiaries as in effect at the time of such acquisition (except to the extent such Indebtedness or Capital Stock was incurred in connection with or in contemplation of such acquisition), which encumbrance or restriction is not
applicable to any Person, or the properties or assets of any Person, other than the Person, or the property or assets of the Person, so acquired and any amendments, restatements, modifications, renewals, extensions, supplements, increases,
refundings, replacements or refinancings thereof; provided that the encumbrances and restrictions in any such amendments, restatements, modifications, renewals, extensions, supplements, increases, refundings, replacements or refinancings are,
in the reasonable good faith judgment of the Chief Executive Officer and Chief Financial Officer of the Company, not materially more restrictive, taken as a whole, than those in effect on the date of the acquisition; provided further that, in
the case of Indebtedness, such Indebtedness was permitted by the terms of this Indenture to be incurred; 
 (v) customary
non-assignment provisions in contracts, leases, licenses and sublicenses (including, without limitation, licenses of intellectual property) entered into in the ordinary course of business and provisions restricting subletting or assignment of any
lease governing a leasehold interest (including leases governing leasehold interests or Farm-In Agreements or Farm-Out Agreements) relating to leasehold interests in oil and gas properties) of the Company or any Restricted Subsidiary; 

(vi) any agreement for the sale or other disposition of the Equity Interests in, or all or substantially all of the properties
or assets of, a Restricted Subsidiary, that restricts distributions by the applicable Restricted Subsidiary pending the sale or other disposition; 

(vii) Permitted Refinancing Indebtedness; provided that the restrictions contained in the agreements governing such
Permitted Refinancing Indebtedness are, in the reasonable good faith judgment of the Chief Executive Officer and Chief Financial Officer of the Company, not materially more restrictive, taken as a whole, than those contained in the agreements
governing the Indebtedness being refinanced; 
 (viii) Liens permitted to be incurred under Section 4.08 that limit the
right of the debtor to dispose of the assets subject to such Liens and the security documents relating thereto; 
 (ix) the
issuance of preferred stock by a Restricted Subsidiary or the payment of dividends thereon in accordance with the terms thereof; provided that issuance of such preferred stock is permitted pursuant to Section 4.06 and the terms of such
preferred stock do not expressly restrict the ability of a Restricted Subsidiary to pay dividends or make any other distributions on its Capital Stock (other than requirements to pay dividends or liquidation preferences on such preferred stock prior
to paying any dividends or making any other distributions on such other Capital Stock); 

  
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 (x) instruments governing other Indebtedness of the Company or any of its
Restricted Subsidiaries permitted to be incurred in accordance with Section 4.06; provided that the provisions relating to such encumbrance or restriction contained in such Indebtedness are not materially less favorable to the Company
and its Restricted Subsidiaries, taken as a whole, in the reasonable good faith judgment of the Chief Executive Officer and Chief Financial Officer of the Company, than the provisions contained in the Senior Credit Agreement or any other agreement
described in clause (i) above, as in effect on the Issue Date, or this Indenture; 
 (xi) Indebtedness incurred or
Capital Stock issued by any Restricted Subsidiary in accordance with this Indenture; provided that the restrictions contained in the agreements or instruments governing such Indebtedness or Capital Stock (A) apply only in the event of a
payment default or a default with respect to a financial covenant in such agreement or instrument or (B) will not materially affect the Company’s ability to pay all principal, interest and premium, if any, on the Notes, in the reasonable
good faith judgment of the Chief Executive Officer and Chief Financial Officer of the Company; 
 (xii) Hedging Obligations
permitted from time to time under this Indenture entered into in the ordinary course of business and not for speculative purposes; 

(xiii) restrictions on cash or other deposits or net worth imposed by customers, suppliers and landlords or surety, insurance
or bonding companies in the ordinary course of business; 
 (xiv) provisions limiting the disposition or distribution of
assets or property in, or transfer of Capital Stock in, joint venture agreements, asset sale agreements, sale-leaseback agreements, stock sale agreements, operating agreements, development agreements, area of mutual interest agreements and other
agreements that are customary in the oil and gas business and are entered into (i) in the ordinary course of business, or (ii) with the approval of the Company’s Board of Directors, which limitations are applicable only to the assets,
property or Capital Stock that are the subject of such agreements; and 
 (xv) Capital Lease Obligations, security
agreements, mortgages, purchase money agreements or similar instruments to the extent such encumbrance or restriction restricts the transfer of the property (including Capital Stock) subject to such Capital Lease Obligations, security agreements,
mortgages, purchase money agreements or similar instruments. 
 Section 4.10. Future Subsidiary Guarantees. (a) If, after
the Issue Date, any Restricted Subsidiary that is not already a Subsidiary Guarantor Guarantees (or otherwise becomes liable for) Indebtedness of the Company or a Subsidiary Guarantor under a Credit Facility then such Subsidiary will become a
Subsidiary Guarantor of the Notes Obligations by executing and delivering a supplemental indenture, in the form of Exhibit B, to the Trustee within 20 days of the date on which it Guarantees such Indebtedness. 

(b) The Subsidiary Guarantee of any such Subsidiary Guarantor will subject to the release provisions and the other limitations described in
Article 10. 

  
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 Section 4.11. Offer to Repurchase upon a Change of Control. (a) If a Change of
Control occurs, each Holder of Notes will have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1 in excess of $2,000) of that Holder’s Notes pursuant to an offer (a “Change of
Control Offer”) on the terms set forth in this Section. In the Change of Control Offer, the Company will offer a payment in cash (the “Change of Control Payment”) equal to 101% of the aggregate principal amount of Notes
repurchased plus accrued and unpaid interest, if any, on the Notes repurchased to the date of purchase (the “Change of Control Payment Date”), subject to the rights of Holders of Notes on the relevant Regular Record Date to receive
interest due on the relevant Interest Payment Date. Within 30 days following any Change of Control, or, at the Company’s option, prior to such Change of Control but after it is publicly announced, the Company will deliver electronically, if
held at DTC, or mail a notice to each Holder describing the transaction or transactions that constitute the Change of Control and stating: 

(i) that the Change of Control Offer is being made pursuant to this Section 4.11 and that all Notes tendered will be
accepted for payment; 
 (ii) the purchase price and the Change of Control Payment Date, which shall be no earlier than 30
days and no later than 60 days from the date such notice is mailed or such later date as is necessary to comply with requirements under the Exchange Act; 

(iii) that any Note not tendered will continue to accrue interest; 

(iv) that, unless the Company defaults in the payment of the Change of Control Payment, all Notes accepted for payment pursuant
to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date; 
 (v) that Holders
electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender the Notes, with the form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer the Notes by
book-entry transfer, to the Paying Agent at the address specified in the notice prior to the close of business on the Business Day immediately preceding the Change of Control Payment Date; 

(vi) that Holders will be entitled to withdraw their election if the Paying Agent receives, not later than the close of
business on the Business Day immediately preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of Notes delivered for purchase, and a statement
that such Holder is withdrawing his election to have all or a portion of the Notes purchased; and 
 (vii) that Holders whose
Notes are being purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered (or transferred by book-entry transfer), which unpurchased portion must be equal to $2,000 in principal
amount or an integral multiple of $1 in excess of $2,000. 

  
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 (b) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any
other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control. To the extent that the provisions of any securities laws or
regulations conflict with the Change of Control provisions of this Indenture, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section by virtue of such
compliance. 
 (c) On the Change of Control Payment Date, the Company will, to the extent lawful: 

(i) accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer; 

(ii) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of
Notes properly tendered; and 
 (iii) deliver or cause to be delivered to the Trustee the Notes properly accepted together
with an Officers’ Certificate stating, the aggregate principal amount of Notes or portions of Notes being purchased by the Company. 

(d) The Paying Agent will promptly mail or wire transfer to each Holder of Notes properly tendered the Change of Control Payment for such
Notes (or, if all the Notes are then in global form, make such payment through the facilities of the Depositary), and the Trustee will promptly authenticate and mail (or cause to be transferred by book entry) to each Holder a new Note equal in
principal amount to any unpurchased portion of the Notes surrendered, if any; provided that each such new Note issued by the Company will be in a principal amount of $2,000 or an integral multiple of $1 in excess of $2,000. Any Note so
accepted for payment will cease to accrue interest on and after the Change of Control Payment Date unless the Company defaults in making the Change of Control Payment. 

(e) The Company will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control
Payment Date. 
 (f) Notwithstanding anything to the contrary in this Section, the Company will not be required to make a Change of Control
Offer upon a Change of Control if (i) a third party makes the Change of Control Offer in the manner, at the price, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control
Offer made by the Company and purchases all Notes properly tendered and not withdrawn under the Change of Control Offer, or (ii) the Company has given notice of redemption pursuant to Section 3.01 of this Indenture with respect to all
outstanding Notes unless and until there is a Default in payment of the applicable redemption price. 
 (g) A Change of Control Offer may be
made in advance of a Change of Control, and conditioned upon the occurrence of such Change of Control, if a definitive 

  
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agreement is in place for the Change of Control at the time of making the Change of Control Offer. Notes repurchased by the Company pursuant to a Change of Control Offer will have the status of
Notes issued but not outstanding or will be retired and cancelled, at the Company’s option. Notes purchased by a third party pursuant to clause (f) of this Section will have the status of Notes issued and outstanding. 

(h) In the event that Holders of at least 90% of the aggregate principal amount of the outstanding Notes accept a Change of Control Offer and
the Company (or any third party making such Change of Control Offer, in lieu of the Company, as described in paragraph (f) of this Section) purchases all of the Notes held by such Holders, the Company will have the right, upon not less than 30
nor more than 60 days’ prior notice, given not more than 30 days following a Change of Control Payment Date, to redeem all, but not less than all, of the Notes that remain outstanding at a redemption price equal to the Change of Control Payment
plus, to the extent not included in the Change of Control Payment, accrued and unpaid interest, if any, on the Notes that remain outstanding, to the date of redemption (subject to the right of Holders on the relevant record date to receive interest
due on the relevant Interest Payment Date). 
 (i) The provisions of this Section that require the Company to make a Change of Control Offer
following a Change of Control will be applicable regardless of whether any other provisions of this Indenture are applicable. 

Section 4.12. Asset Sales. (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, consummate an
Asset Sale unless: 
 (i) the Company (or the Restricted Subsidiary, as the case may be) receives consideration at the time
of such Asset Sale at least equal to the Fair Market Value of the assets or Equity Interests issued or sold or otherwise disposed of; and 

(ii) at least 75% of the consideration received in respect of such Asset Sale by the Company or such Restricted Subsidiary,
taken together with all other Asset Sales since the Issue Date on a cumulative basis, is in the form of cash or Cash Equivalents. For purposes of this provision, each of the following will be deemed to be cash: 

(A) any liabilities, as shown on the Company’s most recent consolidated balance sheet, of the Company or any Restricted
Subsidiary (other than contingent liabilities, Subordinated Debt and any obligations in respect of preferred stock) that are assumed by the transferee of any such assets or Equity Interests pursuant to (i) a customary novation agreement (or
other legal documentation with the same effect) that includes a full release of the Company or such Restricted Subsidiary from any and all liability therefor or (ii) an assignment agreement that includes, in lieu of such release, the agreement
of the transferee or its parent company to indemnify and hold harmless the Company or such Restricted Subsidiary from and against any loss, liability or other cost in respect of such assumed liability; 

(B) Liquid Securities; and 

(C) Additional Assets. 

  
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 (b) Within 365 days after the receipt of any Net Proceeds from an Asset Sale, the Company (or the
applicable Restricted Subsidiary, as the case may be) may apply such Net Proceeds: 
 (i) to repay, prepay, redeem or
purchase (x) any Indebtedness that was secured by the assets sold in such Asset Sale; (y) Indebtedness that is secured equally and ratably with the Notes or that is secured on a priority basis to the Notes; or (z) other Indebtedness
outstanding on the Issue Date; provided in each such case with respect to a revolving Credit Facility, whether or not such repayment, prepayment, redemption or purchase is accompanied by a reduction of the related commitments; 

(ii) to invest in Additional Assets; or 

(iii) to make capital expenditures in respect of a Related Business of the Company or any of its Restricted Subsidiaries; 

 provided that the Company or the applicable Restricted Subsidiary will be deemed to have complied with this paragraph with respect to an Asset
Sale if, within 365 days after such Asset Sale, the Company or such Restricted Subsidiary shall have commenced and not completed or abandoned an expenditure or Investment, or a binding agreement with respect to an expenditure or Investment, in
compliance with this, and that expenditure or Investment is completed within one year and six months after the date of such Asset Sale. 

An amount equal to any Net Proceeds from Asset Sales that are not applied or invested as provided in clauses (i) through (iii) above
within the time period set forth above will constitute “Excess Proceeds.” 
 (c) Within ten Business Days after the
aggregate amount of Excess Proceeds exceeds $25 million, the Company will make an offer (an “Asset Sale Offer”) to all Holders of Notes and all holders of other Indebtedness that is secured equally and ratably with the Notes
containing provisions similar to those set forth in this Section with respect to offers to purchase or redeem with the proceeds of sales of assets, to purchase the maximum principal amount of Notes and such other Indebtedness that is secured equally
and ratably with the Notes that may be purchased out of the Excess Proceeds. The offer price in any Asset Sale Offer will be equal to 100% of the principal amount plus accrued and unpaid interest, if any, to the date of purchase, and will be payable
in cash. If any Excess Proceeds remain after consummation of an Asset Sale Offer, the Company or any Restricted Subsidiary may use those Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If the aggregate principal amount of
Notes and other Indebtedness that is secured equally and ratably with the Notes tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Company will use the Excess Proceeds to purchase the Notes and such other Indebtedness
that is secured equally and ratably with the Notes on a pro rata basis subject to adjustments so that no Notes or other Indebtedness that is secured equally and ratably with the Notes is repurchased in part in an unauthorized denomination. Upon
completion of each Asset Sale Offer, the amount of Excess Proceeds will be reset at zero. 

  
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 (d) Notwithstanding the foregoing, the sale, conveyance or other disposition of all or
substantially all of the properties or assets of the Company and its Restricted Subsidiaries, taken as a whole, will be governed by Section 4.11 and/or Section 5.01 and not by this Section 4.12. 

(e) The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations to the
extent those laws and regulations are applicable in connection with each repurchase of Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with this Section 4.12, or compliance
with this Section 4.12 would constitute a violation of any such laws or regulations, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under the Asset Sales
provisions of this Indenture by virtue of such compliance. 
 (f) In the event that, pursuant to this Section 4.12, the Company is
required to commence an Asset Sale Offer, it will follow the procedures specified below: 
 (i) The Asset Sale Offer shall be
made to all Holders and all holders of other Indebtedness that (x) is secured equally and ratably with the Notes, (y) is secured by a Lien senior to the Lien securing the Notes, or (z) is outstanding on the Issue Date, containing
provisions similar to those set forth in this Section with respect to offers to purchase or redeem with the proceeds of sales of assets. The Asset Sale Offer will remain open for a period of at least 20 Business Days following its commencement and
not more than 30 Business Days, except to the extent that a longer period is required by applicable law (the “Offer Period”). No later than three Business Days after the termination of the Offer Period (the “Purchase
Date”), the Company will apply all Excess Proceeds (the “Offer Amount”) to the purchase of Notes and such other Indebtedness that is secured equally and ratably with the Notes (on a pro rata basis, if applicable, subject to
adjustments so that no Notes or other Indebtedness that is secured equally and ratably with the Notes is repurchased in part in an unauthorized denomination) or, if less than the Offer Amount has been tendered, all Notes and other Indebtedness
tendered in response to the Asset Sale Offer. 
 (ii) If the Purchase Date is on or after a Regular Record Date and on or
before the related Interest Payment Date, any accrued and unpaid interest will be paid to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest will be payable to Holders who tender
Notes pursuant to the Asset Sale Offer. 
 (iii) Upon the commencement of an Asset Sale Offer, the Company will send, by
first class mail, or delivered electronically if held at DTC, a notice to the Trustee and each of the Holders. The notice will contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset Sale Offer.
The notice, which will govern the terms of the Asset Sale Offer, will state: 
 (A) that the Asset Sale Offer is being made
pursuant to this Section 4.12 and the length of time the Asset Sale Offer will remain open; 

  
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 (B) the Offer Amount, the purchase price and the Purchase Date; 

(C) that any Note not tendered or accepted for payment will continue to accrue interest; 

(D) that, unless the Company defaults in making such payment, any Note accepted for payment pursuant to the Asset Sale Offer
will cease to accrue interest after the Purchase Date; 
 (E) that Holders electing to have a Note purchased pursuant to an
Asset Sale Offer may elect to have Notes purchased in denominations of $2,000 and integral multiples of $1 in excess of $2,000 only; 

(F) that Holders electing to have Notes purchased pursuant to any Asset Sale Offer will be required to surrender the Notes,
with the form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer the Notes by book-entry transfer, to the Company, a depositary, if appointed by the Company, or a Paying Agent at the address
specified in the notice prior to the close of business on the Business Day immediately preceding the Purchase Date; 
 (G)
that Holders will be entitled to withdraw their election if the Company, the Depositary or the Paying Agent, as the case may be, receives, not later than the expiration of the close of business on the Business Day immediately preceding the Purchase
Date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have all or a portion
of such Note purchased; 
 (H) that, if the aggregate principal amount of Notes and other Indebtedness that is secured
equally and ratably with the Notes surrendered by Holders thereof exceeds the Offer Amount, the Notes and other Indebtedness that is secured equally and ratably with the Notes will be purchased on a pro rata basis based on the principal amount of
Notes and such other that is secured equally and ratably with the Notes surrendered (with such adjustments as may be deemed appropriate by the Company so that only Notes in denominations of $2,000, or an integral multiple of $1 in excess of $2,000,
will be purchased); and 
 (I) that Holders whose Notes were purchased only in part will be issued new Notes equal in
principal amount to the unpurchased portion of the Notes surrendered (or transferred by book-entry transfer), which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of $1 in excess of $2,000. 

(iv) On or before the Purchase Date, the Company will, to the extent lawful, accept for payment, on a pro rata basis to the
extent necessary, the Offer Amount of Notes or portions thereof tendered pursuant to the Asset Sale Offer, or if less than the 

  
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Offer Amount has been tendered, all Notes tendered, and will deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers’ Certificate stating that
such Notes or portions thereof were accepted for payment by the Company in accordance with the terms of this Section 4.12. The Company, the Depositary or the Paying Agent, as the case may be, will promptly mail or deliver to each tendering
Holder an amount equal to the purchase price of the Notes tendered by such Holder and accepted by the Company for purchase, and the Company will promptly issue a new Note, and the Trustee, upon written request from the Company, will authenticate and
mail or deliver (or cause to be transferred by book entry) such new Note to such Holder, in a principal amount equal to any unpurchased portion of the Note surrendered. Any Note not so accepted shall be promptly mailed or delivered by the Company or
its agent to the Holder thereof. The Company will publicly announce the results of the Asset Sale Offer on the Purchase Date. 

Section 4.13. Limitation on Transactions with Affiliates. (a) The Company will not, and will not permit any of its Restricted
Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction, contract, agreement, understanding,
loan, advance or Guarantee with, or for the benefit of, any Affiliate of the Company (each, an “Affiliate Transaction”), involving aggregate consideration payable to or by the Company or a Restricted Subsidiary in excess of $1
million, unless: 
 (i) the Affiliate Transaction is on terms that are no less favorable to the Company or the relevant
Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with a Person that is not an Affiliate of the Company; and 

(ii) the Company delivers to the Trustee: 

(A) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in
excess of $15 million, a resolution of the Board of Directors of the Company set forth in an Officers’ Certificate certifying that such Affiliate Transaction or series of related Affiliate Transactions complies with this Section and that such
Affiliate Transaction or series of related Affiliate Transactions has been approved by a majority of the disinterested members of the Board of Directors of the Company; and 

(B) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in
excess of $25 million, an opinion as to the fairness to the Company or such Restricted Subsidiary of such Affiliate Transaction or series of related Affiliate Transactions from a financial point of view issued by an accounting, appraisal or
investment banking firm, or other independent entity with appropriate expertise, of national standing. 

  
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 (b) The following items will not be deemed to be Affiliate Transactions and, therefore, will not
be subject to the provisions of paragraph (a): 
 (i) any employment, consulting, severance, termination or similar agreement
or arrangement, stock option or stock ownership plan, employee benefit plan, officer or director compensation or indemnification agreement, restricted stock agreement, severance agreement or other compensation plan or arrangement entered into by the
Company or any of its Restricted Subsidiaries in the ordinary course of business and payments, awards, grants or issuances of securities pursuant thereto; 

(ii) transactions between or among the Company and/or its Restricted Subsidiaries, the issuance of Guarantees for the benefit
of the Company or a Restricted Subsidiary and pledges of Equity Interests of Unrestricted Subsidiaries for the benefit of lenders to Unrestricted Subsidiaries; 

(iii) transactions with a Person (other than an Unrestricted Subsidiary) that is an Affiliate of the Company solely because the
Company owns, directly or through a Subsidiary, an Equity Interest in, or controls, such Person; 
 (iv) fees and expenses
and compensation paid to, and indemnification or insurance provided on behalf of, officers, directors or employees of the Company or any of its Restricted Subsidiaries; 

(v) any issuance of Equity Interests (other than Disqualified Stock) of the Company to, or receipt of a capital contribution
from, Affiliates of the Company; 
 (vi) Restricted Payments that do not violate Section 4.07; 

(vii) loans or advances to employees in the ordinary course of business or consistent with past practice; 

(viii) advances to or reimbursements of employees for moving, entertainment and travel expenses, drawing accounts and similar
expenditures in the ordinary course of business; 
 (ix) the performance of obligations of the Company or any of its
Restricted Subsidiaries under the terms of any written agreement to which the Company or any of its Restricted Subsidiaries was a party on the Issue Date, as these agreements may be amended, modified or supplemented from time to time;
provided that any future amendment, modification or supplement entered into after the Issue Date will be permitted to the extent that its terms do not materially and adversely affect the rights of any Holders of the Notes (as determined in
good faith by the Board of Directors of the Company) as compared to the terms of the agreements in effect on the Issue Date; 

(x) transactions between the Company or any Restricted Subsidiary and any Person, a director of which is also a director of the
Company or any direct or indirect parent company of the Company and such director is the sole cause for such Person to be deemed an Affiliate of the Company or any Restricted Subsidiary; provided that such director abstains from voting as
director of the Company or such direct or indirect parent company of the Company, as the case may be, on any matter involving such other Person; and 

  
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 (xi) in the case of (i) contracts for (A) drilling or other oil-field
services or supplies, (B) the sale, storage, gathering or transport of Hydrocarbons or (C) the lease or rental of office or storage space or (ii) other operation-type contracts, any such contracts that are entered into in the ordinary
course of business on terms substantially similar to those contained in similar contracts entered into by the Company or any Restricted Subsidiary and third parties or, if neither the Company nor any Restricted Subsidiary has entered into a similar
contract with a third party, that the terms are no less favorable than those available from third parties on an arm’s-length basis, as determined by a majority of the disinterested members of the Board of Directors or the Company (or, if there
is only one disinterested member, such disinterested member). 
 Section 4.14. Designation of Restricted and Unrestricted
Subsidiaries. (a) The Board of Directors of the Company may designate any Restricted Subsidiary to be an Unrestricted Subsidiary if that designation would not cause a Default. If a Restricted Subsidiary is designated as an Unrestricted
Subsidiary, the aggregate Fair Market Value of all outstanding Investments owned by the Company and its Restricted Subsidiaries in the Subsidiary designated as an Unrestricted Subsidiary will be deemed to be an Investment made as of the time of the
designation. That designation will only be permitted if the applicable Restricted Subsidiary meets the definition of an Unrestricted Subsidiary and if such Investment would be permitted at that time, either pursuant to Section 4.07 or the
definition of Permitted Investment. 
 (b) Any designation of a Subsidiary of the Company as an Unrestricted Subsidiary will be evidenced to
the Trustee by filing with the Trustee a certified copy of a resolution of the Board of Directors of the Company giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the preceding
conditions and was permitted by Section 4.07;  provided that such covenant need not be complied with if the Subsidiary to be so designated has total assets of $1,000 or less. If, at any time, any Unrestricted Subsidiary would fail
to meet the requirements of the definition of “Unrestricted Subsidiary,” it will thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary will be deemed to be incurred by a
Restricted Subsidiary as of such date and, if such Indebtedness is not permitted to be incurred as of such date under Section 4.06, the Company will be in Default of Section 4.06. 

(c) The Board of Directors of the Company may at any time designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided
that such designation will be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of any outstanding Indebtedness of such Unrestricted Subsidiary, and such designation will only be permitted if (1) such Indebtedness is
permitted under Section 4.06, calculated on a pro forma basis as if such designation had occurred at the beginning of the four-quarter reference period; and (2) no Default or Event of Default would be in existence following such
designation. 
 Section 4.15. Reports. (a) Regardless of whether required by the rules and regulations of the Commission,
so long as any Notes are outstanding, the Company will file with the Commission for public availability, within the time periods specified in the Commission’s rules and regulations (unless the Commission will not accept such a filing, in which
case the Company will comply with the requirements described in paragraph (b) below): 
 (i) all quarterly and annual
reports that would be required to be filed with the Commission on Forms 10-Q and 10-K if the Company were required to file such reports; and 

(ii) all current reports that would be required to be filed with the Commission on Form 8-K if the Company were required to
file such reports. 

  
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 All such reports will be prepared in all material respects in accordance with all of the rules and regulations
applicable to such reports. Each annual report on Form 10-K will include a report on the Company’s consolidated financial statements by the Company’s certified independent accountants. 

(b) If, at any time, the Company is no longer subject to the periodic reporting requirements of the Exchange Act for any reason, the Company
will nevertheless continue filing the reports specified in the clauses (i) and (ii) of paragraph (a) with the Commission within the time periods specified above unless the Commission will not accept such a filing. The Company will not
take any action for the purpose of causing the Commission not to accept any such filings. If, notwithstanding the foregoing, the Commission will not accept the Company’s filings for any reason, the Company will post the reports referred to in
the preceding paragraphs on its website within the time periods that would apply if the Company were required to file those reports with the Commission and deliver a copy of the reports to the Trustee 

(c) Promptly after evidence from the applicable governmental authorities of the recordation of all mortgages existing on the Issue Date
included in the Security Instruments, the Company will file with the Commission a report on Form 8-K stating that such evidence has been received. 

(d) If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries, then the quarterly and annual financial information
required by paragraphs (a) and (b) will include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, and in Management’s Discussion and Analysis of Financial Condition and
Results of Operations, of the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted Subsidiaries of the Company. 

(e) The Company agrees that, for so long as any Notes remain outstanding, but only until completion of the related Exchange Offer, if at any
time it is not required to file with the Commission the reports required by the paragraphs (a) and (b), it will furnish to the Holders of Notes and to securities analysts and to prospective investors, upon their request, the information
required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 (f) If any direct or indirect parent company of the
Company provides a full and unconditional guarantee of the Notes, the Company may satisfy its Obligations in this covenant with respect to financial information relating to the Company by furnishing financial information relating to such parent
company; provided that the same is accompanied by consolidating information that explains in reasonable detail the differences between the information relating to such parent, on the one hand, and the information relating to the
Company and its Subsidiaries on a standalone basis, on the other hand. 

  
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 (g) All obligors on the Notes will comply with Section 314(a) of the Trust Indenture Act.

 (h) Delivery of these reports and information to the Trustee is for informational purposes only and the Trustee’s receipt of them
will not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely
exclusively on Officers’ Certificates). 
 Section 4.16. Reports to Trustee. (a) The Company will deliver to the
Trustee within 120 days after the end of each fiscal year a certificate from the Chief Executive Officer or the Chief Financial Officer of the Company stating that the officer has conducted or supervised a review of the activities of the Company and
its Restricted Subsidiaries and their performance under this Indenture and that, based upon such review, the Company has fulfilled its obligations hereunder or, if there has been a Default, specifying the Default and its nature and status. 

(b) The Company will deliver to the Trustee, as soon as possible and in any event within five Business Days after the Company becomes aware of
the occurrence of a Default or Event of Default, an Officers’ Certificate setting forth the details of the Default or Event of Default, and the action which the Company proposes to take with respect thereto. 

(c) The Company will notify the Trustee in writing when any Notes are listed on any national securities exchange and of any delisting 

Section 4.17. Covenant Termination. From and after the occurrence of an Investment Grade Rating Event, the Company and its
Restricted Subsidiaries shall no longer be subject to Sections 4.06, 4.07, 4.09, 4.12, 4.13 and Section 5.01(a)(iv) of this Indenture. Furthermore, after an Investment Grade Rating Event, the Company may not designate any of its
Subsidiaries as Unrestricted Subsidiaries. However, the Company and its Restricted Subsidiaries will remain subject to all other covenants in this Indenture, including those described above under Section 4.08, Section 4.10 and
Section 4.11. The Company shall notify the Trustee and the Holders of the Notes in writing of the occurrence of any Investment Grade Rating Event within 30 days following the occurrence of that event. 

Section 4.18. Limitation on Certain Offers to Exchange. The Company will not offer to exchange any Note in exchange for
Indebtedness of the Company that is incurred pursuant to Section 4.06(b)(i) of this Indenture and is secured by a Lien that is senior in priority to the Notes unless such offer is made to every Holder of Notes and, if such offer is
oversubscribed, will not accept any portion of the Notes tendered for exchange except ratably in accordance with the respective principal amounts of the Notes tendered. 

  
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 ARTICLE 5 

CONSOLIDATION, MERGER OR SALE OF ASSETS 

Section 5.01. Merger, Consolidation or Sale of Substantially All Assets. (a) The Company will not (1) consolidate or
merge with or into another Person (regardless of whether the Company is the surviving corporation), convert into another form of entity or continue in another jurisdiction; or (2) directly or indirectly, sell, assign, transfer, lease, convey or
otherwise dispose of all or substantially all of its properties or assets, in one or more related transactions, to another Person, unless: 

(i) either: (A) the Company is the surviving corporation; or (B) the Person formed by or surviving any such
consolidation or merger or resulting from such conversion (if other than the Company) or to which such sale, assignment, transfer, lease, conveyance or other disposition has been made (the “Surviving Entity”) is a corporation,
limited liability company or limited partnership organized or existing under the laws of the United States, any state of the United States or the District of Columbia; 

(ii) the Surviving Entity assumes all the obligations of the Company under the Notes and this Indenture (and the relevant
Registration Rights Agreement, if any obligations thereunder remain unsatisfied) pursuant to a supplemental indenture; provided that, unless such Person is a corporation, a corporate co-issuer of the Notes will be added to this Indenture by a
supplement reasonably satisfactory to the Trustee; 
 (iii) immediately after such transaction or transactions, no Default or
Event of Default exists; 
 (iv) the Surviving Entity, would (on the date of such transaction after giving pro forma effect
thereto and to any related financing transactions as if the same had occurred at the beginning of the applicable four-quarter period) either: 

(A) be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth
in Section 4.06(a); or 
 (B) have a Fixed Charge Coverage Ratio that is not less than the Fixed Charge Coverage Ratio
of the Company and its Restricted Subsidiaries immediately before such transaction; and 
 (C) the Company has delivered to
the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such consolidation, merger, conveyance, sale, transfer or lease and such supplemental indenture, if any, comply with this Section and that all conditions
precedent herein provided for relating to such transaction have been complied with; and 
 (v) the Surviving Entity shall
take such action (or agree to take such action) as may be reasonably necessary to cause any property or assets that constitute Collateral owned by or transferred to the Surviving Entity to be subject to the Liens in the manner and to the extent
required under the Note Documents and shall deliver an opinion 

  
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of counsel as to the enforceability of any amendments, supplements or other instruments with respect to the Note Documents to be executed, delivered, filed and recorded, as applicable, and such
other matters as the Trustee may reasonably request. 
 (b) For purposes of this Section, the sale, assignment, transfer, lease, conveyance
or other disposition of all or substantially all of the properties or assets of one or more Subsidiaries of the Company, which properties or assets, if held by the Company instead of such Subsidiaries, would constitute all or substantially all of
the properties or assets of the Company on a consolidated basis, shall be deemed to be the transfer of all or substantially all of the properties or assets of the Company. 

(c) Notwithstanding the restrictions described in clause (iv) of paragraph (a), any Restricted Subsidiary may consolidate with, merge
into or dispose of all or part of its properties or assets to the Company, the Company may merge into a Restricted Subsidiary for the purpose of reincorporating the Company in another jurisdiction, and any Restricted Subsidiary may consolidate with,
merge into or dispose of all or part of its properties or assets to another Restricted Subsidiary. 
 (d) Upon any consolidation or merger,
or any sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the properties or assets of the Company in a transaction that is subject to, and that complies with the provisions of, this Section, the
successor Person formed by such consolidation or into or with which the Company is merged or to which such sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for the Company (so that from
and after the date of such consolidation, merger, sale, assignment, transfer, lease, conveyance or other disposition, the provisions of this Indenture referring to the “Company” shall refer instead to the successor Person and not to the
Company), and may exercise every right and power of the Company under this Indenture with the same effect as if such successor Person had been named as the Company herein and the predecessor Company shall be discharged and released from all
Obligations under this Indenture and the Notes; provided that the predecessor Company shall not be released from the obligation to pay the principal of and interest on the Notes in the case of a lease of all or substantially all of the
Company’s properties or assets in a transaction that is subject to, and that complies with the provisions of this Section. 

Section 5.02. Merger, Consolidation or Disposition of Substantially all Assets of Subsidiary Guarantor. A Subsidiary Guarantor may
not sell or otherwise dispose of all or substantially all of its properties or assets to, or consolidate with or merge with or into (regardless of whether such Subsidiary Guarantor is the surviving Person), another Person, other than the Company or
another Subsidiary Guarantor, unless: 
 (a) immediately after giving effect to that transaction, no Default or Event of Default exists; and

 (b) either: 

(i) (i) such Subsidiary Guarantor is the surviving Person or (ii) the Person acquiring the properties or assets in any
such sale or other disposition or the 

  
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Person formed by or surviving any such consolidation or merger (if other than such Subsidiary Guarantor) assumes all the obligations of such Subsidiary Guarantor under this Indenture (including
its Subsidiary Guarantee) pursuant to a supplemental indenture satisfactory to the Trustee; or 
 (ii) such transaction does
not as of the date thereof violate Section 4.12. 
 ARTICLE 6 

DEFAULT AND REMEDIES 

Section 6.01. Events of Default. Each of the following is an “Event of Default” with respect to the Notes: 

(a) a default in the payment when due of principal of, or premium, if any, on the Notes; 

(b) a default for 30 days in the payment when due of interest on the Notes; 

(c) failure by the Company to comply with its obligations under Section 5.01 or to consummate a purchase of Notes when required pursuant
to Sections 4.11 or 4.12. 
 (d) failure by the Company or any of its Restricted Subsidiaries for 30 days (or 120 days with respect to
Section 4.15) after written notice from the Trustee or the Holders of at least 25% in aggregate principal amount of the then outstanding Notes to comply with Sections 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14 or 4.15 to the
extent not described in clause (c) above; 
 (e) failure by the Company or any of its Restricted Subsidiaries for 60 days after written
notice from the Trustee or the Holders of at least 25% in aggregate principal amount of the then outstanding Notes to comply with any of the other agreements in this Indenture or the Notes; 

(f) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any
Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is Guaranteed by the Company or any of its Restricted Subsidiaries), other than Indebtedness owed to the Company or any of its Restricted
Subsidiaries, whether such Indebtedness or Guarantee now exists, or is created after the Issue Date, which default: 
 (i) is
caused by a failure to pay principal of or interest on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness (“Payment Default”); or 

(ii) results in the acceleration of such Indebtedness prior to its Stated Maturity; 

  
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 and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other
such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $20 million or more; 

(g) failure by the Company or any Significant Subsidiary or group of the Company’s Restricted Subsidiaries that, taken together (as of
the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary to pay final judgments aggregating in excess of $20 million (net of any amounts covered by insurance),
which judgments are not paid, discharged or stayed for a period of 60 days; 
 (h) except as permitted by this Indenture, any Subsidiary
Guarantee is held in a judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full force and effect, or any Subsidiary Guarantor, or any Person acting on behalf of any Subsidiary Guarantor, denies or disaffirms its
obligations under its Subsidiary Guarantee; 
 (i) the Company, any Significant Subsidiary or any group of Restricted Subsidiaries that,
taken together (as of the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary, pursuant to or within the meaning of Bankruptcy Law: 

(i) commences a voluntary case; 

(ii) consents to the entry of an order for relief against it in an involuntary case; 

(iii) makes a general assignment for the benefit of its creditors; or 

(iv) generally is not paying its debts as they become due; and 

(j) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(i) is for relief against the Company, any Significant Subsidiary or any group of Restricted Subsidiaries that, taken together
(as of the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary, in an involuntary case; or 

(ii) appoints a custodian of the Company, any Significant Subsidiary or any group of Restricted Subsidiaries that, taken
together (as of the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary, or for all or substantially all of the property of the Company, any Significant
Subsidiary or any group of Restricted Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary; or 

(iii) orders the liquidation of the Company, any Significant Subsidiary or any group of Restricted Subsidiaries that, taken
together (as of the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary; 

  
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 and, in each case, the order or decree remains unstayed and in effect for 60 consecutive days. 

(k) the occurrence of any of the following: 

(i) except as permitted by the Security Instruments or this Indenture, any Security Instrument ceases for any reason to be
enforceable; provided that (x) it will not be an Event of Default under this clause (k)(i) if the sole result of the failure of one or more Security Instruments to be fully enforceable is that any Lien purported to be granted under such
Security Instruments on Collateral, individually or in the aggregate, having a Fair Market Value of not more than $15 million, ceases to be an enforceable and perfected Lien, and (y) if such failure is susceptible to cure, no Event of Default
shall arise with respect thereto until 30 days after any officer of the Company or any Restricted Subsidiary becomes aware of such failure, which failure has not been cured during such time period; provided, in the case of any such Event of
Default that can be cured by a filing or recordation, that the Company shall be deemed to have cured such Event of Default within such 30-day period, even if it has not received an acknowledgment, file-stamped or other similar confirmation of such
filing or recordation; 
 (ii) except as permitted by the Security Instruments, any Lien purported to be granted under any
Security Instrument on Collateral, individually or in the aggregate, having a Fair Market Value in excess of $15 million, ceases to be an enforceable and perfected second-priority Lien, subject to the Intercreditor Agreement and Permitted Liens;
provided that if such failure is susceptible to cure, no Event of Default shall arise with respect thereto until 30 days after any officer of the Company or any Restricted Subsidiary becomes aware of such failure, which failure has not been
cured during such time period; provided, in the case of any such Event of Default that can be cured by a filing or recordation, that the Company shall be deemed to have cured such Event of Default within such 30-day period, even if it has not
received an acknowledgment, file-stamped or other similar confirmation of such filing or recordation; or 
 (iii) the Company
or any Subsidiary Guarantor, or any Person acting on behalf of any of any of them, denies or disaffirms, in writing, any obligation of the Company or any Subsidiary Guarantor set forth in or arising under any Security Instrument. 

Section 6.02. Acceleration. (a) In the case of an Event of Default specified in clause (i) or clause (j) of
Section 6.01, all then outstanding Notes will become due and payable immediately without further action or notice. If any other Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount
of the then outstanding Notes may declare all of the Notes to be due and payable immediately by notice in writing to the Company and, in case of a notice by Holders, also to the Trustee specifying the respective Event of Default and that it is a
notice of acceleration. Upon any such declaration, the Notes shall become due and payable immediately. 

  
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 (b) At any time after such a declaration of acceleration with respect to the Notes has been made
and before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in Article 6 provided, the Holders of a majority in aggregate principal amount of the then outstanding Notes, by written notice to the
Company and the Trustee, may rescind and annul such declaration and its consequences if: 
 (i) the Company or one or more of
the Subsidiary Guarantors has paid or deposited with the Trustee a sum sufficient to pay: 
 (A) all overdue interest on all
Notes; 
 (B) the principal of (and premium, if any, on) any Notes which have become due otherwise than by such declaration
of acceleration and any interest thereon at the rate or rates prescribed therefor in such Notes; 
 (C) to the extent that
payment of such interest is lawful, interest upon overdue interest at the rate or rates prescribed therefor in such Notes; and 

(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances
of the Trustee, its agents and counsel; and 
 (ii) all Events of Default with respect to the Notes, other than the
non-payment of the principal of the Notes that have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 6.04. 

No such rescission shall affect any subsequent default or impair any right consequent thereon. 

(c) Notwithstanding paragraphs (a) or (b), if an Event of Default specified in clause (f) of Section 6.01 shall have occurred
and be continuing, such Event of Default and any consequential acceleration (to the extent not in violation of any applicable law or in conflict with any judgment or decree of a court of competent jurisdiction) shall be automatically rescinded if
(A) the Indebtedness that is the subject of such Event of Default has been repaid or (B) the default relating to such Indebtedness is waived by the holders of such Indebtedness or cured and if such Indebtedness has been accelerated, then
the holders thereof have rescinded their declaration of acceleration in respect of such Indebtedness. 
 Section 6.03. Other
Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue, in its own name or as trustee of an express trust, any available remedy by proceeding at law or in equity to collect the payment of principal of and interest on
the Notes or to enforce the performance of any provision of the Notes or this Indenture. The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. 

Section 6.04. Waiver of Past Defaults. Except as otherwise provided in Sections 6.02(b), 6.07 and 9.02(b), the Holders of a
majority in aggregate principal amount of the outstanding Notes may, by notice to the Trustee, waive an existing Default and its consequences, 

  
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except a continuing Default in the payment of principal, premium (if any) or interest on the Notes. Upon such waiver, the Default will cease to exist, and any Event of Default arising therefrom
will be deemed to have been cured, but no such waiver will extend to any subsequent or other Default or impair any right consequent thereon. 

Section 6.05. Control by Majority. The Holders of a majority in aggregate principal amount of the outstanding Notes may direct the
time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that the Trustee determines in good faith
conflicts with law or this Indenture, that may involve the Trustee in personal liability, or that the Trustee determines in good faith may be unduly prejudicial to the rights of Holders of Notes not joining in the giving of such direction, and may
take any other action it deems proper that is not inconsistent with any such direction received from Holders of Notes. 
 Section 6.06.
Limitation on Suits. Except to enforce the right to receive payment of principal, premium, if any, or interest, when due, a Holder may not institute any proceeding, judicial or otherwise, with respect to this Indenture or the Notes, or for
the appointment of a receiver or trustee, or for any other remedy under this Indenture or the Notes, unless: 
 (a) such Holder has
previously given to the Trustee written notice of a continuing Event of Default; 
 (b) Holders of at least 25% in aggregate principal
amount of outstanding Notes have made written request to the Trustee to pursue the remedy; 
 (c) such Holders have offered the Trustee
security or indemnity satisfactory to the Trustee against any loss, liability or expense; 
 (d) the Trustee has not complied with such
request within 60 days after the receipt of the request and the offer of security or indemnity; and 
 (e) Holders of a majority in
aggregate principal amount of the outstanding Notes have not given the Trustee a direction that is inconsistent with such written request within such 60-day period. 

Section 6.07. Rights of Holders. Notwithstanding anything herein to the contrary, the right of a Holder of a Note to receive
payment of principal of or interest on its Note on or after the Stated Maturity thereof, or to bring suit for the enforcement of any such payment on or after such respective dates, may not be impaired or affected without the consent of that Holder.

 Section 6.08. Collection Suit by Trustee. If an Event of Default in payment of principal or interest specified in
clause (a) or (b) of Section 6.01 occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust for the whole amount of principal and accrued interest remaining unpaid, together with
interest on overdue principal and, to the extent lawful, overdue installments of interest, in each case at the rate specified in the Notes, and such further amount as is sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel and any other amounts due the Trustee hereunder. 

  
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 Section 6.09. Trustee May File Proofs of Claim. The Trustee may file proofs of claim
and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts
due the Trustee hereunder) and the Holders allowed in any judicial proceedings relating to the Company or any Subsidiary Guarantor or their respective creditors or property, and is entitled and empowered to collect, receive and distribute any money,
securities or other property payable or deliverable upon conversion or exchange of the Notes or upon any such claims. Any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is
hereby authorized by each Holder to make such payments to the Trustee and, if the Trustee consents to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the compensation, and reasonable expenses,
disbursements and advances of the Trustee, its agent and counsel, and any other amounts due the Trustee hereunder. Nothing in this Indenture will be deemed to empower the Trustee to authorize or consent to, or accept or adopt on behalf of any
Holder, any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

Section 6.10. Priorities. If the Trustee collects any money or property pursuant to this Article, it shall pay out the money or
property in the following order: 
 First: to the Trustee for all amounts due to it hereunder; 

Second: to Holders for amounts then due and unpaid for principal of and interest on the Notes, ratably, without
preference or priority of any kind, according to the amounts due and payable on the Notes for principal and interest; and 

Third: to the Company or as a court of competent jurisdiction may direct. 

The Trustee, upon written notice to the Company, may fix a record date and payment date for any payment to Holders pursuant to this Section.

 Section 6.11. Restoration of Rights and Remedies. If the Trustee or any Holder has instituted a proceeding to enforce any
right or remedy under this Indenture and the proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to the Holder, then, subject to any determination in the proceeding, the Company, any
Subsidiary Guarantors, the Trustee and the Holders will be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Company, any Subsidiary Guarantors, the Trustee and the Holders will
continue as though no such proceeding had been instituted. 
 Section 6.12. Undertaking for Costs. In any suit for the
enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court may require any party litigant in such suit (other than the Trustee) to file an undertaking to pay
the costs of the suit, and the court may assess reasonable costs, including 

  
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reasonable attorneys’ fees, against any party litigant (other than the Trustee) in the suit having due regard to the merits and good faith of the claims or defenses made by the party
litigant. This Section does not apply to any suit by a Holder to enforce payment of principal of or interest on any Note on the respective due dates, or a suit instituted by the Company, the Trustee or any Holders of more than 10% in aggregate
principal amount of the outstanding Notes. 
 Section 6.13. Rights and Remedies Cumulative. No right or remedy conferred or
reserved to the Trustee or to the Holders under this Indenture is intended to be exclusive of any other right or remedy, and all such rights and remedies are, to the extent permitted by law, cumulative and in addition to every other right and remedy
hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or exercise of any right or remedy hereunder, or otherwise, will not prevent the concurrent assertion or exercise of any other right or remedy. 

Section 6.14. Delay or Omission Not Waiver. No delay or omission of the Trustee or of any Holder to exercise any right or remedy
accruing upon any Event of Default will impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may
be exercised from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 

Section 6.15. Waiver of Stay, Extension or Usury Laws. The Company and each Subsidiary Guarantor covenants, to the extent that it
may lawfully do so, that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive the Company or the
Subsidiary Guarantor from paying all or any portion of the principal of, or interest on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or that may affect the covenants or the performance of this Indenture.
The Company and each Subsidiary Guarantor hereby expressly waives, to the extent that it may lawfully do so, all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to
the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted. 
 ARTICLE 7 

THE TRUSTEE 

Section 7.01. General. (a) The duties and responsibilities of the Trustee are as provided by the Trust Indenture Act and as
set forth herein. Whether or not expressly so provided, every provision of this Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee is subject to this Article. 

(b) Except during the continuance of an Event of Default, the Trustee need perform only those duties that are specifically set forth in this
Indenture and no others, and no implied covenants or obligations will be read into this Indenture against the Trustee. In case an Event of Default has occurred and is continuing, the Trustee shall exercise those rights and powers vested in it by
this Indenture, and use the same degree of care and skill in their exercise, as a prudent man would exercise or use under the circumstances in the conduct of his own affairs. 

(c) No provision of this Indenture shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent
failure to act or its own willful misconduct. 

  
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 Section 7.02. Certain Rights of Trustee. Subject to Trust Indenture Act
Sections 315(a) through (d): 
 (a) In the absence of bad faith on its part, the Trustee may conclusively rely, and will be protected
in acting or refraining from acting, upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by
it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the document, but, in the case of any document which is specifically required to be furnished to the Trustee
pursuant to any provision hereof, the Trustee shall examine the document to determine whether it conforms to the requirements of this Indenture (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated
therein). The Trustee, in its discretion, may make further inquiry or investigation into such facts or matters as it sees fit. 
 (b) Before
the Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel conforming to Section 11.05 and the Trustee will not be liable for any action it takes or omits to take in good faith in reliance on
the certificate or opinion. 
 (c) The Trustee may act through its attorneys and agents and will not be responsible for the misconduct or
negligence of any agent appointed with due care. 
 (d) The Trustee will be under no obligation to exercise any of the rights or powers
vested in it by this Indenture at the request or direction of any of the Holders, unless such Holders have offered to the Trustee security or indemnity satisfactory to it against the costs, expenses and liabilities that might be incurred by it in
compliance with such request or direction. 
 (e) The Trustee will not be liable for any action it takes or omits to take in good faith that
it believes to be authorized or within its rights or powers or for any action it takes or omits to take in accordance with the direction of the Holders in accordance with Section 6.05 relating to the time, method and place of conducting any
proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee, under this Indenture. 

(f) The Trustee may consult with counsel, and the advice or opinion of such counsel or any Opinion of Counsel will be full and complete
authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 

  
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 (g) The Trustee will not be liable for any error of judgment made in good faith by a responsible
officer of the Trustee unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts. 
 (h) The Trustee may
refuse to perform any duty or exercise any right or power that would require it to expend its own funds or risk any liability if it reasonably believes that repayment of such funds or adequate indemnity against such risk is not reasonably assured to
it. 
 (i) Anything in this Indenture to the contrary notwithstanding, in no event will the Trustee be liable under or in connection with
this Indenture for indirect, special, incidental, punitive or consequential losses or damages of any kind whatsoever, including but not limited to lost profits, whether or not foreseeable, even if the Trustee has been advised of the possibility
thereof and regardless of the form of action in which such damages are sought. 
 (j) The Trustee may request that the Company deliver an
Officers’ Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture which Officers’ Certificate may be signed by any person authorized to sign
an Officers’ Certificate, including any person specified as so authorized in any such certificate previously delivered and not superseded. 

Section 7.03. Individual Rights of Trustee. The Trustee, in its individual or any other capacity, may become the owner or pledgee
of Notes and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not the Trustee. Any Agent may do the same with like rights. However, the Trustee is subject to Trust Indenture Act Sections 310(b)
and 311. For purposes of Trust Indenture Act Section 311(b)(4) and (6): 
 (a) “cash transaction” means any
transaction in which full payment for goods or securities sold is made within seven days after delivery of the goods or securities in currency or in checks or other orders drawn upon banks or bankers and payable upon demand; and 

(b) “self-liquidating paper” means any draft, bill of exchange, acceptance or obligation which is made, drawn, negotiated or
incurred for the purpose of financing the purchase, processing, manufacturing, shipment, storage or sale of goods, wares or merchandise and which is secured by documents evidencing title to, possession of, or a lien upon, the goods, wares or
merchandise or the receivables or proceeds arising from the sale of the goods, wares or merchandise previously constituting the security, provided the security is received by the Trustee simultaneously with the creation of the creditor relationship
arising from the making, drawing, negotiating or incurring of the draft, bill of exchange, acceptance or obligation. 
 Section 7.04.
Trustee’s Disclaimer. The Trustee (i) makes no representation as to the validity or adequacy of this Indenture or the Notes, (ii) is not accountable for the Company’s use or application of the proceeds from the Notes and
(iii) is not responsible for any statement in the Notes other than its certificate of authentication. 
 Section 7.05. Notice
of Default. If any Default occurs and is continuing and is known to the Trustee, the Trustee will send notice of the Default to each Holder within 90 days after it has knowledge thereof, unless the Default has been cured; provided that,
except in the case of a 

  
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default in the payment of the principal of or interest on any Note, the Trustee may withhold the notice if and so long as the board of directors, the executive committee or a trust committee of
responsible officers of the Trustee in good faith determines that withholding the notice is in the interest of the Holders. Notice to Holders under this Section will be given in the manner and to the extent provided in Trust Indenture Act
Section 313(c). 
 The Trustee shall not be deemed to have knowledge of any Default or Event of Default except (i) a Default under
Section 6.01(a) or (b) so long as the Trustee is Paying Agent or (ii) any Default or Event of Default of which the Trustee shall have received written notification or a responsible officer charged with the administration of this
Indenture shall have obtained actual knowledge, and such notification shall not be deemed to include receipt of information obtained in any report or other documents furnished under Section 4.15 of this Indenture, which reports and documents
the Trustee shall have no duty to examine. 
 Section 7.06. Reports by Trustee to Holders. Within 60 days after each
May 15, beginning with May 15, 2016, the Trustee will mail to each Holder, as provided in Trust Indenture Act Section 313(c), a brief report dated as of such May 15, if required by Trust Indenture Act Section 313(a), and
file such reports with each stock exchange upon which the Notes are listed and with the Commission as required by Trust Indenture Act Section 313(d). 

Section 7.07. Compensation and Indemnity. (a) The Company will pay the Trustee compensation as agreed upon in writing for its
services. The compensation of the Trustee is not limited by any law on compensation of a Trustee of an express trust. The Company will reimburse the Trustee upon request for all reasonable out-of-pocket expenses, disbursements and advances incurred
or made by the Trustee, including the compensation and expenses of the Trustee’s agents and counsel. 
 (b) The Company will indemnify
the Trustee and its directors, officers, agents and employees for, and hold them harmless against, any loss or liability or expense incurred by it or any such director, officer, agent or employee without negligence or bad faith on the Trustee’s
part arising out of or in connection with the acceptance or administration of this Indenture and the Trustee’s duties under this Indenture and the Notes, including the costs and expenses of defending themselves against any claim or liability
and of complying with any process served upon them in connection with the exercise or performance of any of the Trustee’s powers or duties under this Indenture and the Notes. 

(c) To secure the Company’s payment obligations in this Section, the Trustee will have a lien prior to the Notes on all money or property
held or collected by the Trustee, in its capacity as Trustee. 
 (d) When the Trustee incurs expenses after the occurrence of an Event of
Default specified in Section 6.01(i) or (j), such expenses are intended to constitute expenses of the administration under any Bankruptcy Law. 

(e) The provisions of this Section 7.07 shall survive the resignation or replacement of the Trustee, any discharge or defeasance under
Article 8, and termination of this Indenture. 

  
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 Section 7.08. Replacement of Trustee. (a) (i) The Trustee may resign at any
time by written notice to the Company. 
 (ii) The Holders of a majority in aggregate principal amount of the outstanding
Notes may remove the Trustee by written notice to the Trustee. 
 (iii) If the Trustee is no longer eligible under
Section 7.10 or in the circumstances described in Trust Indenture Act Section 310(b), any Holder that satisfies the requirements of Trust Indenture Act Section 310(b) may petition any court of competent jurisdiction for the removal of
the Trustee and the appointment of a successor Trustee. 
 (iv) The Company may remove the Trustee if: (A) the Trustee
is no longer eligible under Section 7.10; (B) the Trustee is adjudged a bankrupt or an insolvent; (C) a receiver or other public officer takes charge of the Trustee or its property; or (D) the Trustee becomes incapable of acting.
A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this Section. 

(b) If the Trustee has been removed by the Holders, Holders of a majority in aggregate principal amount of the Notes may appoint a successor
Trustee with the consent of the Company. Otherwise, if the Trustee resigns or is removed, or if a vacancy exists in the office of Trustee for any reason, the Company will promptly appoint a successor Trustee. If the successor Trustee does not
deliver its written acceptance within 30 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Company or the Holders of a majority in aggregate principal amount of the outstanding Notes may petition any court of competent
jurisdiction for the appointment of a successor Trustee. 
 (c) Upon delivery by the successor Trustee of a written acceptance of its
appointment to the retiring Trustee and to the Company, (i) the retiring Trustee will transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07, (ii) the resignation or
removal of the retiring Trustee will become effective, and (iii) the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. Upon request of any successor Trustee, the Company will execute any and all
instruments for fully vesting in and confirming to the successor Trustee all such rights, powers and trusts. The Company will give notice of any resignation and any removal of the Trustee and each appointment of a successor Trustee to all Holders,
and include in the notice the name of the successor Trustee and the address of its Corporate Trust Office. 
 (d) Notwithstanding
replacement of the Trustee pursuant to this Section, the Company’s obligations under Section 7.07 will continue for the benefit of the retiring Trustee. 

(e) The Trustee agrees to give the notices provided for in, and otherwise comply with, Trust Indenture Act Section 310(b). 

Section 7.09. Successor Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or
substantially all of its corporate trust business to, another corporation or national banking association, the resulting, surviving or transferee corporation or national banking association without any further act will be the successor Trustee with
the same effect as if the successor Trustee had been named as the Trustee in this Indenture. 

  
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 Section 7.10. Eligibility. The Indenture must always have a Trustee that satisfies
the requirements of Trust Indenture Act Section 310(a) and has a combined capital and surplus of at least $100 million as set forth in its most recent published annual report of condition. 

Section 7.11. Money Held in Trust. The Trustee will not be liable for interest on any money received by it except as it may agree
with the Company. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law and except for money held in trust under Article 8. 

Section 7.12. Intercreditor Agreement and Registration Rights Agreement. By its acceptance of a Note, each Holder authorizes the
Trustee to enter into the Intercreditor Agreement and agrees to be bound thereby. By its acceptance of an Initial Note, each Holder thereof authorizes the Trustee on its behalf to acknowledge and agree to the Registration Rights Agreement with
respect to the Initial Notes and agrees to be bound thereby. 
 ARTICLE 8 

DEFEASANCE AND DISCHARGE 

Section 8.01. Satisfaction and Discharge. (a) This Indenture will be discharged and will cease to be of further effect as to
all Notes issued hereunder (except as otherwise specified in clause (b) below), when: 
 (i) either 

(A) all Notes that have been authenticated, except lost, stolen, mutilated or destroyed Notes that have been replaced or paid
and Notes for whose payment money has been deposited in trust and thereafter repaid to the Company, have been delivered to the Trustee for cancellation; or 

(B) all Notes that have not been delivered to the Trustee for cancellation have become due and payable or will become due and
payable within one year by reason of the mailing of, or delivered electronically if held at DTC, a notice of redemption or otherwise and the Company or any Subsidiary Guarantor has irrevocably deposited or caused to be deposited with the Trustee as
trust funds in trust solely for the benefit of the Holders, cash in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable Government Securities, in amounts as will be sufficient, without
consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not delivered to the Trustee for cancellation for principal, premium, if any, and accrued interest to the date of Stated Maturity or redemption;

 (ii) no Default or Event of Default has occurred and is continuing on the date of the deposit (other than a Default or
Event of Default resulting from the borrowing of funds to be applied to such deposit or the grant of Liens securing such borrowing); 

  
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 (iii) such deposit will not result in a breach or violation of, or constitute a
default under, any material agreement or instrument (other than this Indenture) to which the Company or any Subsidiary Guarantor is a party or by which the Company or any Subsidiary Guarantor is bound; 

(iv) the Company or any Subsidiary Guarantor has paid or caused to be paid all Notes Obligations then due and payable under
this Indenture by the Company; 
 (v) the Company has delivered irrevocable instructions to the Trustee to apply the
deposited money toward the payment of the Notes at maturity or on the redemption date, as the case may be; and 
 (vi) the
Company has delivered to the Trustee (A) an Officers’ Certificate, stating that all conditions precedent set forth in clauses (i) through (v) above have been satisfied, and (B) an Opinion of Counsel, stating that all
conditions precedent set forth in clauses (iii) and (v) above have been satisfied. 
 (b) Notwithstanding the satisfaction and
discharge of this Indenture pursuant to paragraph (a), (x) the obligations of the Company to the Trustee under Section 7.07, and the right of the Trustee to resign under Section 7.08(a)(i) shall survive, and (y) if money shall
have been deposited with the Trustee pursuant to paragraph (a), the obligations of the Company and the Trustee under Section 2.04, Section 2.09, Section 4.02, Section 7.11, Section 8.01(c), Section 8.07 and
Section 8.08 shall each survive. 
 (c) All money deposited with the Trustee pursuant to paragraph (a) shall be held in trust and
applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to the Persons
entitled thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with the Trustee, but such money need not be segregated from other funds except to the extent required by law. 

Section 8.02. Option to Effect Legal Defeasance or Covenant Defeasance. The Company may, at the option of its Board of Directors
evidenced by a resolution set forth in an Officers’ Certificate, elect at any time to have either Section 8.03 or Section 8.04 be applied to all outstanding Notes upon compliance with the conditions set forth in the portions of this
Article 8 relating to Legal Defeasance and Covenant Defeasance. 
 Section 8.03. Legal Defeasance. (a) Upon the
Company’s exercise under Section 8.02 of the option applicable to this Section 8.03, the Company and each of the Subsidiary Guarantors will, subject to the satisfaction of the conditions set forth in Section 8.05 hereof, be
deemed to have been discharged from their Notes Obligations (including any Subsidiary Guarantees) on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance means
that the Company and the Subsidiary Guarantors will be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes (including any Subsidiary Guarantees), which will thereafter be deemed to be
“outstanding” only for the purposes of Section 8.06 hereof and the other sections of this 

  
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Indenture referred to in clauses (i) through (iv) below, and to have satisfied all their other Notes Obligations, the Subsidiary Guarantees and this Indenture (and the Trustee, on
demand of and at the expense of the Company, shall execute instruments prepared by the Company acknowledging the same), except for the following provisions, which will survive until otherwise terminated or discharged hereunder: 

(i) the rights of Holders of outstanding Notes to receive payments in respect of the principal of, or interest or premium, if
any, on such Notes when such payments are due from the trust referred to in Section 8.06; 
 (ii) the Company’s
obligations with respect to such Notes under Sections 2.04, 2.06, 2.09 and 4.02; 
 (iii) the rights, powers, trusts,
duties and immunities of the Trustee hereunder and the Company’s and the Subsidiary Guarantors’ obligations in connection therewith; and 

(iv) the Legal Defeasance and Covenant Defeasance provisions of this Article 8. 

(b) Subject to compliance with the Legal Defeasance provisions of this Article 8, the Company may exercise its option regarding Legal
Defeasance under this Section notwithstanding the prior exercise of its option regarding Covenant Defeasance under Section 8.04 with respect to the Notes. 

Section 8.04. Covenant Defeasance. Upon the Company’s exercise under Section 8.02 of the option applicable to this
Section 8.04, (i) the Company and each of the Subsidiary Guarantors will, subject to the satisfaction of the conditions set forth in Section 8.05 hereof, be released from each of their obligations respecting the Notes under
Sections 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15 and 5.01(a)(iv) (such release and termination hereinafter referred to as “Covenant Defeasance”), (ii) the Events of Default described under
Sections 6.01(c) (other than with respect to Section 5.01), (d), (e), (f), (g), (h) and Section 6.01(i) and (j) (but only with respect to Subsidiaries of the Company) in each case, will no longer constitute an Event of
Default with respect to the Notes, and (iii) the Subsidiary Guarantees respecting such Notes will be released. For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes, the Company and the Subsidiary Guarantors
may omit to comply with and will have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or by reason of any
reference in any such covenant to any other provision herein or in any other document and such omission to comply will not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified above, the remainder of
this Indenture and the Notes will be unaffected thereby. 

  
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 Section 8.05. Conditions to Legal Defeasance or Covenant Defeasance. In order to
exercise either Legal Defeasance or Covenant Defeasance under either Section 8.03 or Section 8.04: 
 (a) the Company must
irrevocably deposit with the Trustee, in trust, for the benefit of the Holders of the Notes, cash in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable Government Securities, in such amounts
as will be sufficient, in the opinion of a nationally recognized investment bank, nationally recognized appraisal film, or nationally recognized firm of independent public accountants to pay the principal of, or interest and premium, if any, on the
outstanding Notes on the stated date for payment thereof or on the applicable redemption date, as the case may be, and the Company must specify whether the Notes are being defeased to such stated date for payment or to a particular redemption date;

 (b) in the case of an election under Section 8.03, the Company must deliver to the Trustee an Opinion of Counsel stating that: 

(i) the Company has received from, or there has been published by, the Internal Revenue Service a ruling; or 

(ii) since the Issue Date, there has been a change in the applicable U.S. federal income tax law, 

in either case stating that, and based thereon such Opinion of Counsel will state that, the Holders of the Notes will not recognize income, gain or loss for
U.S. federal income tax purposes as a result of such Legal Defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred;

 (c) in the case of an election under Section 8.04, the Company must deliver to the Trustee an Opinion of Counsel confirming that the
Holders of the outstanding Notes will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such Covenant Defeasance and will be subject to U.S. federal income tax on the same amounts, in the same manner and at the
same times as would have been the case if such Covenant Defeasance had not occurred; 
 (d) no Default or Event of Default has occurred and
is continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit or the grant of Liens securing such borrowing); 

(e) such Legal Defeasance or Covenant Defeasance and the related deposit will not result in a breach or violation of, or constitute a default
under, any material agreement or instrument (other than this Indenture) to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound; 

(f) the Company must deliver to the Trustee an Officers’ Certificate stating that the deposit was not made by the Company with the intent
of preferring the Holders of Notes over the other creditors of the Company with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; 

(g) the Company must deliver to the Trustee an Officers’ Certificate, stating that all conditions precedent set forth in clauses
(a) through (f) have been complied with; and 
 (h) the Company must deliver to the Trustee an Opinion of Counsel, stating that
all conditions precedent set forth in clauses (b), (c) and (e) have been complied with. 

  
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 Section 8.06. Application of Trust Money. Subject to Section 8.07, the Trustee
will hold in trust the cash in U.S. dollars or Government Securities deposited with it pursuant to Section 8.05, and apply the deposited money and the proceeds from deposited Government Securities to the payment of principal of and interest on
the Notes in accordance with the Notes and this Indenture. Such money and Government Securities need not be segregated from other funds except to the extent required by law. 

Section 8.07. Repayment to Company. Subject to Sections 7.07, 8.01 and 8.05, the Trustee will promptly pay to the Company
upon request any excess money or Government Securities held by the Trustee at any time and thereupon be relieved from all liability with respect thereto. Subject to any applicable abandoned property laws, the Trustee will pay to the Company upon
request any money held for payment with respect to the Notes that remains unclaimed for two years, provided that before making such payment the Trustee may at the expense of the Company publish once in a newspaper of general circulation in
New York City, or send to each Holder entitled to such money, notice that the money remains unclaimed and that after a date specified in the notice (at least 30 days after the date of the publication or notice) any remaining unclaimed balance of
money will be repaid to the Company. After payment to the Company, Holders entitled to such money must look solely to the Company for payment, unless applicable law designates another Person, and all liability of the Trustee with respect to such
money will cease. 
 Section 8.08. Reinstatement. If and for so long as the Trustee is unable to apply any money or Government
Securities held in trust pursuant to Section 8.01 or 8.05 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the
Company’s obligations under this Indenture and the Notes will be reinstated as though no such deposit in trust had been made. If the Company makes any payment of principal of or interest on any Notes because of the reinstatement of its
obligations, it will be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Government Securities held in trust. 

ARTICLE 9 
 AMENDMENTS,
SUPPLEMENTS AND WAIVERS 
 Section 9.01. Amendments Without Consent of Holders. Without the consent of any Noteholder, the
Company, the Subsidiary Guarantors and the Trustee may amend or supplement this Indenture, the Notes, the Subsidiary Guarantees or any other Note Document to: 

(a) cure any ambiguity, defect, inconsistency, omission or mistake; 

(b) provide for uncertificated Notes in addition to or in place of certificated Notes; 

(c) to provide for the assumption of the Company’s or a Guarantor’s obligations to Holders of the Notes in the case of a merger or
consolidation or sale of all or substantially all of the Company’s or a Subsidiary Guarantor’s properties or assets in compliance with this Indenture or to add a co-issuer; 

  
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 (d) to add or release Subsidiary Guarantors in compliance with this Indenture; 

(e) to make any change that would provide any additional rights or benefits to the Holders, add Events of Default or surrender any right or
power conferred upon the Company or any Subsidiary Guarantor or that does not adversely affect in any material respect the legal rights hereunder of any Holder; provided that any change to this Indenture to conform it to the description of
the Notes in the offering memorandum of the Company dated February 3, 2016, as supplemented by supplements to offering memorandum dated March 14, 2016 and March     , 2016, relating to the exchange offer for the Notes
that is intended to be a substantially verbatim recitation of the corresponding provision of this Indenture (which may be evidenced by an Officers’ Certificate delivered to the Trustee) shall not be deemed to adversely affect such legal rights;

 (f) to secure the Notes, including pursuant to the requirements of Section 4.08; 

(g) to comply with the requirements of the Commission in order to effect or maintain the qualification of this Indenture under the Trust
Indenture Act; 
 (h) to comply with requirements of the Depositary with respect to the Notes; 

(i) to evidence and provide for the acceptance of appointment hereunder of a successor Trustee; 

(j) to make, complete or confirm any grant of Collateral permitted or required by any of the Note Documents; 

(k) to release, discharge, terminate or subordinate Liens on Collateral in accordance with the Note Documents and to confirm and evidence any
such release, discharge, termination or subordination; or 
 (l) to provide for the issuance of Exchange Notes or Additional Notes. 

Section 9.02. Amendments with Consent of Holders. (a) Except as otherwise provided in Sections 6.02, 6.04 and 6.07 or
paragraphs (b) and (c), the Company, the Subsidiary Guarantors and the Trustee may amend or supplement this Indenture, the Notes, the Subsidiary Guarantees and the other Note Documents with the consent of the Holders of a majority in aggregate
principal amount of the outstanding Notes (including consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes), and the Holders of a majority in aggregate principal amount of the outstanding Notes by notice to
the Trustee may waive any existing Default or compliance by the Company with any provision of this Indenture or the Notes. 

  
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 (b) Notwithstanding the provisions of paragraph (a), without the consent of each Holder of
outstanding Notes affected, an amendment, supplement or waiver may not (with respect to any Notes held by a non-consenting Holder): 

(i) reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver; 

(ii) reduce the principal of or change the fixed maturity of any Note or alter the provisions with respect to the redemption or
repurchase of the Notes (other than provisions relating to Sections 4.11 or 4.12); 
 (iii) reduce the rate of or change the
time for payment of interest on any Note; 
 (iv) waive a Default or Event of Default in the payment of principal of or
premium, if any, or interest on the Notes (except non-payment of principal, premium, if any, or interest on the Notes that became due solely because of the acceleration of the Notes, which acceleration has been rescinded) or a Default or Event of
Default in respect of a provision that cannot be amended or supplemented without the consent of each Holder affected; 
 (v)
make any Note payable in a currency other than that stated in the Notes; 
 (vi) make any change in the provisions of this
Indenture relating to waivers of past Defaults or the rights of Holders of Notes to receive payments of principal of or premium, if any, or interest on the Notes (except as permitted by clause (vii) below); 

(vii) waive a redemption or repurchase payment with respect to any Notes (other than a payment required by Sections 4.11 or
4.12); 
 (viii) modify any Subsidiary Guarantee in any manner adverse to the Holders of the Notes or release any Subsidiary
Guarantor from its obligations under its Subsidiary Guarantee except in accordance with the terms of this Indenture; 
 (ix)
make any change in the ranking of the Notes or the Subsidiary Guarantees in a manner adverse to the Holders of the Notes or the Subsidiary Guarantees; 

(x) reduce the principal amount of Notes whose Holders must consent to the release of Liens as required by Section 9.02(c)
hereof; or 
 (xi) make any change in the preceding amendment, supplement and waiver provisions of this Indenture. 

(c) In addition, the consent of Holders of at least 66.67% in aggregate principal amount of the outstanding Notes will be required to release
the Liens for the benefit of the Holders on all or substantially all of the Collateral, other than in accordance with this Indenture and the Security Instruments. 

  
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 (d) It is not necessary for Noteholders to approve the particular form of any proposed amendment,
supplement or waiver, but it is sufficient if such consent approves the substance thereof. 
 (e) An amendment, supplement or waiver under
this Section will become effective on receipt by the Trustee of written consents (or, with respect to a tender or exchange offer for Notes in global form, electronic consents given in accordance with applicable procedures of the Depositary) from the
Holders of the requisite percentage in aggregate principal amount of the outstanding Notes, and execution thereof by the Trustee and (if required) the Company. After an amendment, supplement or waiver under this Section becomes effective, the
Company will deliver electronically to the Depositary or mail to the Holders affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to send such notice, or any defect therein, will not, however,
in any way impair or affect the validity of any such amendment, supplement or waiver. 
 Section 9.03. Effect of Consent.
(a) After an amendment, supplement or waiver becomes effective, it will bind every Holder unless it is of the type requiring the consent of each Holder affected. If the amendment, supplement or waiver is of the type requiring the consent of
each Holder affected, the amendment, supplement or waiver will bind each Holder that has consented to it and every subsequent Holder of a Note that evidences the same debt as the Note of the consenting Holder. 

(b) If an amendment, supplement or waiver changes the terms of a Note, the Trustee may require the Holder to deliver it to the Trustee so that
the Trustee may place an appropriate notation of the changed terms on the Note and return it to the Holder, or exchange it for a new Note that reflects the changed terms. The Trustee may also place an appropriate notation on any Note thereafter
authenticated. However, the effectiveness of the amendment, supplement or waiver is not affected by any failure to annotate or exchange Notes in this fashion. 

Section 9.04. Trustee’s Rights and Obligations. The Trustee is entitled to receive, and will be fully protected in relying
upon, an Opinion of Counsel and an Officers’ Certificate stating that the execution of any amendment, supplement or waiver authorized pursuant to this Article is authorized or permitted by this Indenture. If the Trustee has received such
an Opinion of Counsel and an Officers’ Certificate, it shall sign the amendment, supplement or waiver so long as the same does not adversely affect the rights of the Trustee. The Trustee may, but is not obligated to, execute any amendment,
supplement or waiver that affects the Trustee’s own rights, duties or immunities under this Indenture. 
 Section 9.05.
Conformity with Trust Indenture Act. Every supplemental indenture executed pursuant to this Article shall conform to the requirements of the Trust Indenture Act. 

  
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 ARTICLE 10 

GUARANTEES 

Section 10.01. The Subsidiary Guarantees. Subject to this Article 10, each of the Subsidiary Guarantors hereby, jointly and
severally, unconditionally guarantees to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Notes or the Notes
Obligations of the Company hereunder or thereunder, that: 
 (a) the principal of, premium, if any, on, and interest, if any, on the Notes
will be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of, premium on, if any, and interest, if any, on, the Notes, if lawful, and all other Notes Obligations of
the Company to the Holders or the Trustee hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and 

(b) in case of any extension of time of payment or renewal of any Notes or any of such other Notes Obligations, that same will be promptly
paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. 

Failing payment when due of any amount so guaranteed or any performance so guaranteed for whatever reason, the Subsidiary Guarantors will be
jointly and severally obligated to pay the same immediately. Each Subsidiary Guarantor agrees that this is a guarantee of payment and not a guarantee of collection. 

Section 10.02. Execution and Delivery of Notation of Guarantee. To evidence its Subsidiary Guarantee set forth in
Section 10.01 hereof, each Subsidiary Guarantor as of the date of this Indenture hereby agrees that a Notation of Guarantee substantially in the form attached as Exhibit H hereto will be endorsed by an Officer of such Subsidiary Guarantor on
each Note authenticated and delivered by the Trustee and that this Indenture will be executed on behalf of such Subsidiary Guarantor by one of its Officers. 

Each Subsidiary Guarantor hereby agrees that its Subsidiary Guarantee set forth in Section 10.01 hereof will remain in full force and
effect notwithstanding any failure to endorse on each Note a Notation of Guarantee. 
 If an Officer whose signature is on this Indenture or
on the Notation of Guarantee no longer holds that office at the time the Trustee authenticates the Note on which a Notation of Guarantee is endorsed, the Notation of Guarantee will be valid nevertheless. 

The delivery of any Note by the Trustee, after the authentication thereof hereunder, will constitute due delivery of the Notation of Guarantee
set forth in this Indenture on behalf of the Subsidiary Guarantors. 
 Section 10.03. Subsidiary Guarantee Unconditional. The
obligations of each Subsidiary Guarantor hereunder are unconditional and absolute and, without limiting the generality of the foregoing, will not be released, discharged or otherwise affected by 

(a) any extension, renewal, settlement, compromise, waiver or release in respect of any obligation of the Company under this Indenture or any
Note, by operation of law or otherwise; 

  
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 (b) any modification or amendment of or supplement to this Indenture or any Note; 

(c) any change in the corporate existence, structure or ownership of the Company, or any insolvency, bankruptcy, reorganization or other
similar proceeding affecting the Company or its assets or any resulting release or discharge of any obligation of the Company contained in this Indenture or any Note; 

(d) the existence of any claim, set-off or other rights which the Subsidiary Guarantor may have at any time against the Company, the Trustee
or any other Person, whether in connection with this Indenture or any unrelated transactions, provided that nothing herein prevents the assertion of any such claim by separate suit or compulsory counterclaim; 

(e) any invalidity or unenforceability relating to or against the Company for any reason of this Indenture or any Note, or any provision of
applicable law or regulation purporting to prohibit the payment by the Company of the principal of or interest on any Note or any other amount payable by the Company under this Indenture; or 

(f) any other act or omission to act or delay of any kind by the Company, the Trustee or any other Person or any other circumstance whatsoever
which might, but for the provisions of this paragraph, constitute a legal or equitable discharge of or defense to such Subsidiary Guarantor’s obligations hereunder other than payment in full of the principal of, premium, if any, and interest on
the Notes and all other amounts payable by the Company under this Indenture. 
 Section 10.04. Discharge; Reinstatement. Subject
to Section 10.09, each Subsidiary Guarantor’s obligations hereunder will remain in full force and effect until the Notes Obligations have been paid in full. If at any time any payment of the principal of, premium, if any, or interest on
any Note or any other amount payable by the Company under this Indenture is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the Company or otherwise, each Subsidiary Guarantor’s
obligations hereunder with respect to such payment will be reinstated as though such payment had been due but not made at such time. 

Section 10.05. Waiver by the Subsidiary Guarantors. Each Subsidiary Guarantor irrevocably waives acceptance hereof, presentment,
demand, protest and any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against the Company or any other Person. 

Section 10.06. Subrogation and Contribution. Upon making any payment with respect to any obligation of the Company under this
Article, the Subsidiary Guarantor making such payment will be subrogated to the rights of the payee against the Company with respect to such obligation, provided that the Subsidiary Guarantor may not enforce either any right of subrogation,
or any right to receive payment in the nature of contribution, or otherwise, from any other Subsidiary Guarantor, with respect to such payment so long as any Notes Obligations remains unpaid. 

  
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 Section 10.07. Stay of Acceleration. If acceleration of the time for payment of any
amount payable by the Company under this Indenture or the Notes is stayed upon the insolvency, bankruptcy or reorganization of the Company, all such amounts otherwise subject to acceleration under the terms of this Indenture are nonetheless payable
by the Subsidiary Guarantors hereunder forthwith on demand by the Trustee or the Holders. 
 Section 10.08. Limitation on Amount of
Subsidiary Guarantee. Notwithstanding anything to the contrary in this Article, each Subsidiary Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Subsidiary Guarantee of
such Subsidiary Guarantor not constitute a fraudulent conveyance under applicable fraudulent conveyance provisions of the United States Bankruptcy Code or any comparable provision of state law. To effectuate that intention, the Trustee, the Holders
and the Subsidiary Guarantors hereby irrevocably agree that the obligations of each Subsidiary Guarantor under its Subsidiary Guarantee are limited to the maximum amount that would not render the Subsidiary Guarantor’s obligations subject to
avoidance under applicable fraudulent conveyance provisions of the United States Bankruptcy Code or any comparable provision of state law. 

Section 10.09. Release of Subsidiary Guarantee. The Subsidiary Guarantee of a Subsidiary Guarantor will terminate: 

(a) upon any sale or other disposition of all or substantially all of the properties or assets of such Subsidiary Guarantor (including by way
of merger or consolidation) to a Person that is not (either before or after giving effect to such transaction) the Company or a Restricted Subsidiary, if the sale or other disposition does not violate as of the date thereof Section 4.12; 

(b) upon any sale or other disposition of the Capital Stock of such Subsidiary Guarantor to a Person that is not (either before or after
giving effect to such transaction) the Company or a Restricted Subsidiary, if the sale or other disposition does not violate as of the date thereof Section 4.12 and such Subsidiary Guarantor no longer qualifies as a Subsidiary of the Company as
a result of such disposition; 
 (c) upon designation of such Subsidiary Guarantor as an Unrestricted Subsidiary, in accordance with
Section 4.14; 
 (d) upon Legal Defeasance, Covenant Defeasance or satisfaction and discharge of this Indenture as provided pursuant to
Sections 8.01, 8.02, 8.03 and 8.04; 
 (e) upon the liquidation or dissolution of such Subsidiary Guarantor, provided no Default or
Event of Default occurs as a result thereof or has occurred or is continuing; or 
 (f) unless a Default or Event of Default has occurred
and is continuing, if such Subsidiary Guarantor ceases to Guarantee any Indebtedness of the Company or a Guarantor under a Credit Facility. 

  
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 Upon delivery by the Company to the Trustee of an Officers’ Certificate and an Opinion of
Counsel to the foregoing effect, the Trustee will execute documents reasonably required in order to evidence the release of the Subsidiary Guarantor from its obligations under its Subsidiary Guarantee. 

ARTICLE 11 

MISCELLANEOUS 

Section 11.01. Trust Indenture Act of 1939. The Indenture shall incorporate and be governed by the provisions of the Trust
Indenture Act that are required to be part of and to govern indentures qualified under the Trust Indenture Act. 
 Section 11.02.
Noteholder Communications; Noteholder Actions. (a) The rights of Holders to communicate with other Holders with respect to this Indenture or the Notes are as provided by the Trust Indenture Act, and the Company and the Trustee shall
comply with the requirements of Trust Indenture Act Sections 312(a) and 312(b). Neither the Company nor the Trustee will be held accountable by reason of any disclosure of information as to names and addresses of Holders made pursuant to the
Trust Indenture Act. 
 (b) (i) Any request, demand, authorization, direction, notice, consent to amendment, supplement or waiver or other
action provided by this Indenture to be given or taken by a Holder (an “act’) may be evidenced by an instrument signed by the Holder delivered to the Trustee. The fact and date of the execution of the instrument, or the authority of
the person executing it, may be proved in any manner that the Trustee deems sufficient. 
 (ii) The Trustee may make
reasonable rules for action by or at a meeting of Holders, which will be binding on all the Holders. 
 (c) Any act by the Holder of any
Note binds that Holder and every subsequent Holder of a Note that evidences the same debt as the Note of the acting Holder, even if no notation thereof appears on the Note. Subject to paragraph (d), a Holder may revoke an act as to its Notes, but
only if the Trustee receives the notice of revocation before the date the amendment or waiver or other consequence of the act becomes effective. 

(d) The Company may, but is not obligated to, fix a record date (which need not be within the time limits otherwise prescribed by Trust
Indenture Act Section 316(c)) for the purpose of determining the Holders entitled to act with respect to any amendment or waiver or in any other regard, except that during the continuance of an Event of Default, only the Trustee may set a
record date as to notices of default, any declaration or acceleration or any other remedies or other consequences of the Event of Default. If a record date is fixed, those Persons that were Holders at such record date and only those Persons will be
entitled to act, or to revoke any previous act, whether or not those Persons continue to be Holders after the record date. No act will be valid or effective for more than 90 days after the record date. 

  
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 Section 11.03. Notices. (a) Any notice or communication to the Company will be
deemed given if in writing (i) when delivered in person or (ii) five days after mailing when mailed by first class mail, or (iii) when sent by facsimile transmission, with transmission confirmed. Notices or communications to a
Subsidiary Guarantor will be deemed given if given to the Company. Any notice to the Trustee will be effective only upon receipt. In each case the notice or communication should be addressed as follows: 

if to the Company: 
 Rex Energy
Corporation 
 366 Walker Drive 

State College, Pennsylvania 16801 

Attention: General Counsel 

Facsimile: 814-278-7286 
 if to
the Trustee: 
 Wilmington Savings Fund Society, FSB 

500 Delaware Avenue 
 Wilmington,
DE 19801 
 Attention: Corporate Trust 

Reference: Rex Energy Corporation 1.00%/8.00% Senior Secured Second 

Lien Notes Due 2020 
 Facsimile:
302-421-9137 
 The Company or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications.

 (b) Except as otherwise expressly provided with respect to published notices, any notice or communication to a Holder will be deemed
given when mailed to the Holder at its address as it appears on the Register by first class mail or, as to any Global Note registered in the name of the Depositary or its nominee, in accordance with the rules and procedures of the Depositary. Copies
of any notice or communication to a Holder, if given by the Company, will be mailed to the Trustee at the same time. A defect in mailing a notice or communication to any particular Holder will not affect its sufficiency with respect to other
Holders. 
 (c) Where this Indenture provides for notice, the notice may be waived in writing by the Person entitled to receive such notice,
either before or after the event, and the waiver will be the equivalent of the notice. Waivers of notice by Holders must be filed with the Trustee, but such filing is not a condition precedent to the validity of any action taken in reliance upon
such waivers. 
 Section 11.04. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the
Company to the Trustee to take any action under this Indenture, the Trustee shall receive from the Company: 
 (a) an Officers’
Certificate stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 

(b) an Opinion of Counsel stating that all such conditions precedent have been complied with. 

  
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 Section 11.05. Statements Required in Certificate or Opinion. Each certificate or
opinion with respect to compliance with a condition or covenant provided for in this Indenture must include: 
 (a) a statement that each
person signing the certificate or opinion has read the covenant or condition and the related definitions; 
 (b) a brief statement as to the
nature and scope of the examination or investigation upon which the statement or opinion contained in the certificate or opinion is based; 

(c) a statement that, in the opinion of each such person, that person has made such examination or investigation as is necessary to enable the
person to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (d) a statement as to
whether or not, in the opinion of each such person, such condition or covenant has been complied with; provided that an Opinion of Counsel may rely on an Officers’ Certificate or certificates of public officials with respect to matters
of fact. 
 Section 11.06. Payment Date Other Than a Business Day. If any scheduled payment with respect to a payment of any
principal of, premium, if any, or interest on any Note is due on a day which is not a Business Day, then the payment need not be made on such date, but may be made on the next Business Day with the same force and effect as if made on such date, and
no interest will accrue for the intervening period. 
 Section 11.07. Governing Law. The Indenture, including any Subsidiary
Guarantees, and the Notes shall be governed by, and construed in accordance with, the laws of the State of New York. 
 Section 11.08.
No Adverse Interpretation of Other Agreements. The Indenture may not be used to interpret another indenture or loan or debt agreement of the Company or any Subsidiary of the Company, and no such indenture or loan or debt agreement may be used
to interpret this Indenture. 
 Section 11.09. Successors. All agreements of the Company or any Subsidiary Guarantor in this
Indenture and the Notes will bind its successors. All agreements of the Trustee in this Indenture will bind its successor. 

Section 11.10. Duplicate Originals. The parties may sign any number of copies of this Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement. The Indenture may be executed by facsimile or other electronic transmission. 

Section 11.11. Separability. In case any provision in this Indenture or in the Notes is invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 

Section 11.12. Table of Contents and Headings. The Table of Contents, Cross-Reference Table and headings of the Articles and
Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part of this Indenture and in no way modify or restrict any of the terms and provisions of this Indenture. 

  
 97 

 Section 11.13. No Liability of Directors, Officers, Employees, Incorporators, Members and
Stockholders. No director, officer, employee, incorporator, member, manager, partner or stockholder of the Company or any Subsidiary Guarantor, as such, will have any liability for any obligations of the Company or such Subsidiary Guarantor
under the Notes, any Subsidiary Guarantee or this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver
and release are part of the consideration for issuance of the Notes. 
 Section 11.14. Waiver of Jury Trial. EACH PARTY TO THIS
INDENTURE AND, BY ITS ACCEPTANCE OF THE NOTES, EACH HOLDER HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN
CONNECTION WITH THIS INDENTURE OR THE NOTES. 
 Section 11.15. USA Patriot Act. The Trustee hereby notifies the Company and the
Parent that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)), it is required to obtain, verify and record information that identifies the Company, which information includes
the name and address of the Company and other information that will allow the Trustee to identify the Company in accordance with the USA Patriot Act. 

Section 11.16. Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the performance
of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or
acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the
banking industry to resume performance as soon as practicable under the circumstances. 
 ARTICLE 12  

COLLATERAL SECURITY 

Section 12.01. Security Interest. 

(a) The due and punctual payment of the Obligations on the Notes and the Obligations of the Subsidiary Guarantors under the Subsidiary
Guarantees, when and as the same shall be due and payable, whether on an interest payment date, at maturity, by acceleration, repurchase, redemption or otherwise, and interest on the overdue principal of, premium, if any, and interest (to the extent
permitted by law), on the Notes, the Subsidiary Guarantees and performance and payment of all other Notes Obligations of the Company and the Subsidiary Guarantors to the Holders or the Trustee under the Note Documents, according to the terms
hereunder or, are secured, as provided in the Security Instruments. 

  
 98 

 (b) Each Holder of Notes, by its acceptance thereof and of the Subsidiary Guarantees, consents
and agrees to the terms of the Security Instruments and the Intercreditor Agreement (including without limitation the provisions providing for foreclosure and release of Collateral and amendments to the Security Instruments) as the same may be in
effect or may be amended from time to time in accordance with their terms and authorizes and appoints Wilmington Savings Fund Society, FSB, as the Trustee. Each Holder of Notes, by its acceptance thereof and of the Subsidiary Guarantees directs the
Trustee to enter into the Security Instruments and the Intercreditor Agreement and to perform its obligations and exercise its rights thereunder in accordance therewith, subject to the terms and conditions thereof. The Trustee and each Holder of
Notes, by its acceptance thereof and of the Subsidiary Guarantees, acknowledges that, as more fully set forth in the Security Instruments, the Collateral as now or hereafter constituted shall be held, subject to the Intercreditor Agreement, for the
benefit of the Holders of Notes and the Trustee, and the Lien of this Indenture and the Security Instruments is subject to and qualified and limited in all respects by the Intercreditor Agreement and the Security Instruments and actions that may be
taken thereunder. 
 Section 12.02. Post-Issue Date Collateral Requirements. 

(a) Within five Business Days after the Issue Date, the Company shall, or shall cause the applicable Subsidiary Guarantor to, (i) execute
and deliver to the Trustee, as mortgagee or beneficiary or secured party, as applicable, such mortgages or other Security Instruments, together with evidence of arrangements for the completion of all recordings and filings of such mortgages and
other Security Instruments in the proper recorders’ offices or appropriate public records (and payment of any taxes or fees in connection therewith) as may be necessary to create a valid, perfected second-priority Lien (subject to the
Intercreditor Agreement and to Permitted Liens), against the property and assets of the Company and the Subsidiary Guarantors that are subject to Liens securing the First Lien Obligations on the Issue Date and (ii) promptly the date on which
each such mortgage is so filed or recorded, cause its counsel for the jurisdiction in which the relevant properties and assets are located to execute and deliver to the Trustee a favorable legal opinion with respect thereto in form and substance
reasonably satisfactory to the Trustee. 
 (b) Any Security Instruments entered into after the Issue Date shall be substantially in the form
of the corresponding security document securing the First Lien Obligations, or to the extent there is no such corresponding security document, the corresponding security documents securing the First Lien Obligations in place on the Issue Date, in
each case, with such changes as are reasonably necessary to reflect the terms of the Intercreditor Agreement. 
 (c) The Company shall
furnish to the Trustee, at such times as are required by the Trust Indenture Act, such Opinions of Counsel and certificates or opinions of engineers, appraisers or other experts as may be required by Section 314(b) or 314(d) of the Trust
Indenture Act, including without limitation such Opinions of Counsel delivered annually after the Issue Date as such Section 314(b) may require, and shall take such other action as may be necessary to cause such Section 314(d) relating to
the release of property from the Liens created by this Indenture and the other Note Documents to be complied with. Any certificate or opinion required by such Section 314(d) may be made by an Officer of the Company, except in cases in which
such Section requires that such certificate or opinion be made by an independent Person, which Person shall be an independent engineer, appraiser or other expert selected or approved by 

  
 99 

 
the Trustee, in the exercise of reasonable care, and by the Company. A Person is “independent” if such Person (i) is in fact independent, (ii) does not have any direct
financial interest or material indirect financial interest in the Company or any Affiliate of the Company and (iii) is not an officer, employee, promoter, underwriter, trustee, partner or director or Person performing similar functions to any
of the foregoing for the Company. The Trustee shall be entitled to receive and rely upon a certificate provided by any such Person confirming that such Person is independent as provided in the immediately preceding sentence. 

Section 12.03. Further Assurances; Liens on Additional Property. 

(a) The Company and each Subsidiary Guarantor shall do or cause to be done all acts and things that may be required, or that the Trustee from
time to time may reasonably request, to assure and confirm that the Trustee holds, duly created and enforceable and perfected second-priority Liens upon the Collateral (subject to the Intercreditor Agreement and Permitted Liens) (including any
Property required to become, collateral security securing the First Lien Obligations after the Issue Date), in each case, as contemplated by the Note Documents, and in connection with any merger, consolidation or sale of assets of the Company or any
Subsidiary Guarantor, the property and assets of the Person that is consolidated or merged with or into the Company or any Subsidiary Guarantor, to the extent that they are Property of the types that would constitute Collateral under the Security
Instruments, shall be treated as after-acquired property and the Company or such Guarantor shall take such action as may be reasonably necessary to cause such property and assets to be made subject to the Lien of the Security Instruments, in the
manner and to the extent required under the Security Instruments, but subject to the Intercreditor Agreement. 
 (b) From and after the
Issue Date, if the Company or any Subsidiary Guarantor acquires any Property that constitutes collateral for First Lien Obligations that are subject to the Intercreditor Agreement, if and to the extent that any Credit Facility Document or
documentation relating to the First Lien Obligations requires any supplemental security document for such collateral or other actions to achieve a perfected Lien on such collateral, the Company shall, or shall cause the applicable Subsidiary
Guarantor to, promptly (but not in any event no later than the date that is 20 Business Days after which such supplemental security documents are executed and delivered (or other action taken)), to the extent permitted by applicable law, execute and
deliver to the Trustee appropriate Security Instruments (or amendments thereto) in such form as shall be necessary to grant the Trustee a valid and enforceable perfected second-priority Lien (subject to the Intercreditor Agreement and to Permitted
Liens) on such Collateral or take such other actions in favor of the Trustee as shall be reasonably necessary to grant a valid and enforceable perfected second-priority Lien (subject to the Intercreditor Agreement and to Permitted Liens) on such
Collateral to the Trustee, for the benefit of itself and the Holders, subject to this Indenture, the Intercreditor Agreement and the Security Instruments. Additionally, subject to this Indenture, the Intercreditor Agreement and the Security
Instruments, if the Company or any Subsidiary Guarantor creates any additional Lien upon any Property that would constitute Collateral, or takes any additional actions to perfect any existing Lien on Collateral, in each case for the benefit of the
holders of First Lien Obligations, after the Issue Date, the Company or such Subsidiary Guarantor, as applicable, must, to the extent permitted by applicable law, within 20 Business Days after such Lien is granted or other action taken, grant a
valid and enforceable perfected second-priority Lien (subject to the Intercreditor Agreement and to Permitted Liens) upon such Property, or take such additional perfection actions, as applicable, for the benefit of the Holders and obtain all related

  
 100 

 
deliverables as those delivered in connection with the First Lien Obligations, as applicable, in each case as security for the Obligations in respect of the Notes. Notwithstanding the foregoing,
to the extent that any Lien on any Collateral is perfected by the possession or control of such Collateral or of any account in which such Collateral is held, and if such Collateral or any such account is in fact in the possession or under the
control of an administrative or other agent under a Credit Facility, or of agents or bailees of thereof, the perfection actions and related deliverables described in this Section 12.03(b) shall not be required. 

(c) Notwithstanding anything herein or in the other Note Documents to the contrary, neither the Company nor any Subsidiary Guarantor will be
required to grant a security interest in, and the Collateral shall not include, any collateral securing that is or may be provided to issuers of letters of credit pursuant to any Credit Facility rather than generally to the lenders thereunder, or
any agent or other representative thereof, as a whole. In addition, the Collateral shall not include Property excluded therefrom pursuant to any Security Instrument, except to the extent such assets or property are subject to a Lien generally
securing obligations under a Credit Facility (other than as provided in the immediately preceding sentence). 
 Section 12.04.
Intercreditor Agreement. This Article 12 and the provisions of each other Security Instrument are subject to the Intercreditor Agreement. The Company and each Subsidiary Guarantor consents to, and agrees to be bound by, the terms of the
Intercreditor Agreement, as the same may be in effect from time to time, and to perform its obligations thereunder in accordance with the terms thereof. In addition, each Holder of Notes, by its acceptance thereof and of the Subsidiary Guarantees,
authorizes and instructs the Trustee to enter into any amendments or joinders to the Intercreditor Agreement, without the consent of any Holder, to add additional Debt under any Credit Facility and add other parties (or any authorized agent or
trustee therefor) holding such Debt thereto and to establish that the Lien on any Collateral securing such Debt ranks equally with the Liens on such Collateral securing the Notes, then outstanding. The foregoing provisions are intended as an
inducement to the lenders under the Credit Facilities to extend credit to the Company and its Subsidiaries, and such lenders are intended third party beneficiaries of such provisions and the provisions of the Intercreditor Agreement. 

Section 12.05. Release of Liens in Respect of Notes. The Trustee’s Liens upon the Collateral will no longer secure the Notes
outstanding under this Indenture, and the right of the Holders to the benefits and proceeds of the Liens on the Collateral will terminate and be discharged: 

(a) upon satisfaction and discharge of this Indenture; 

(b) upon a legal defeasance or covenant defeasance of the Notes; 

(c) upon payment in full in cash and discharge of all Notes outstanding under this Indenture and all other Notes Obligations hereunder that
are outstanding, due and payable under this Indenture and the Security Instruments at the time the Notes are paid in full in cash and discharged (other than contingent indemnity obligations for which no claim has been made); 

  
 101 

 (d) as to any Collateral of the Company or a Subsidiary Guarantor that is sold, transferred or
otherwise disposed of by the Company or any Subsidiary Guarantor to a Person that is not (either before or after such sale, transfer or disposition) the Company or a Restricted Subsidiary of the Company in a transaction or other circumstance that
complies with the provisions hereof (other than any obligation to apply proceeds of such Asset Sale as provided in such provision), at the time of such sale, transfer or other disposition or to the extent of the interest sold, transferred or
otherwise disposed of; provided that the Trustee’s Liens upon the Collateral will not be released if the sale or disposition is subject to Article 5; 

(e) in whole or in part, with the consent of the Holders of the requisite aggregate principal amount of Notes in accordance with Article 9
hereof; 
 (f) with respect to the assets of any Subsidiary Guarantor, at the time that such Subsidiary Guarantor is released from its
Guarantee in accordance with the provisions hereof; and 
 (g) if and to the extent required by the Intercreditor Agreement. 

Section 12.06. Trustee. 

(a) The Trustee will hold (directly or through co-trustees or agents) and, subject to the terms of the Intercreditor Agreement, will be
entitled to enforce all Liens on the Collateral created by the Security Instruments. 
 (b) Except as provided herein, the Trustee will not
be obligated: 
 (i) to act upon directions purported to be delivered to it by any Person; 

(ii) to foreclose upon or otherwise enforce any Lien on any Collateral securing Notes Obligations; or 

(iii) to take any other action whatsoever with regard to any or all of the Security Instruments, the Notes Documents, the Liens
created thereby or the Collateral securing the Notes Obligations. 

  
 102 

 IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be duly executed as of the
date first written above. 
  

			
	REX ENERGY CORPORATION
	as Issuer
		
	By:	 	 /s/ Thomas Rajan

		 	Thomas Rajan
		 	Chief Financial Officer
	
	REX ENERGY I, LLC
	REX ENERGY OPERATING CORP.
	REX ENERGY IV, LLC
	PENNTEX RESOURCES ILLINOIS, INC.
	R.E. GAS DEVELOPMENT, LLC
	as Subsidiary Guarantors
		
	By:	 	 /s/ Thomas Rajan

		 	Thomas Rajan
		 	Chief Financial Officer
	
	WILMINGTON SAVINGS FUND SOCIETY, FSB
	as Trustee
		
	By:	 	 /s/ Geoffrey J. Lewis

	Name:	 	Geoffrey J. Lewis
	Title:	 	Vice President

  
 103 

 EXHIBIT A 

FORM OF NOTE 
 [FACE OF
NOTE] 
 REX ENERGY CORPORATION 

[CUSIP] [CINS]          

1.00%/8.00% Senior Secured Second Lien Notes Due 2020 

No.         $         

REX ENERGY CORPORATION, a Delaware corporation (the “Company”, which term includes any successor under the Indenture
hereinafter referred to), for value received, promises to pay to [            ] [CEDE & CO.]1, or its registered assigns, the
principal sum of                     DOLLARS ($        ) [or such other amount as indicated on the
Schedule of Exchange of Notes attached hereto] on October 1, 2020. 
 Interest Rate: Except as may otherwise be provided in the
Registration Rights Agreement with respect to the accrual of Additional Interest, interest will accrue on the Notes from the Issue Date through September 30, 2017 at a rate of 1.00% per annum, and commencing on October 1, 2017, and at
all times thereafter interest will accrue on the Notes at a rate of 8.00% per annum. 
 Interest Payment Dates: April 1 and
October 1, commencing October 1, 2016. 
 Regular Record Dates: March 15 and September 15. 

Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which will for all purposes have the same
effect as if set forth at this place. 
  

	1 	For Global Notes. 

  
 A-1 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile by its
duly authorized officers. 
  

									
	Date:	 	  
	 		 	
				
		 		 		 	REX ENERGY CORPORATION
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	
		 		 		 	Title:	 	

  
 A-2 

 (Form of Trustee’s Certificate of Authentication) 

This is one of the 1.00%/8.00% Senior Secured Second Lien Notes Due 2020 described in the Indenture referred to in this Note. 

 

									
	Date:	 	  
	 		 	
				
		 		 		 	WILMINGTON SAVINGS FUND SOCIETY, FSB, as Trustee
					
		 		 		 	By:	 	  

  
 A-3 

 [REVERSE SIDE OF NOTE] 

REX ENERGY CORPORATION 

1.00%/8.00% Senior Secured Second Lien Notes Due 2020 
  

	1.	Principal and Interest. 

 The Company promises to pay the principal of this Note
on October 1, 2020. 
 The Company promises to pay interest on the principal amount of this Note on each interest payment date, as set
forth on the face of this Note, at the rate of 1.00% per annum commencing on the Issue Date until and including September 30, 2017, and 8.00% per annum commencing on October 1, 2017 and at all times thereafter as provided herein.

 Interest will be payable semiannually (to the holders of record of the Notes at the close of business on the March 15 or
September 15 immediately preceding the interest payment date) on each October 1 and April 1, commencing October 1, 2016. 

[The Holder of this Note is entitled to the benefits of the Registration Rights Agreement, dated March 31, 2016 between and among the
Company, for the benefit of the Noteholders, and the Subsidiary Guarantors party thereto (the “Registration Rights Agreement”), including, in circumstances specified therein, the right to receive Additional Interest. All references
in this Note to payments of “interest” include any Additional Interest then owed.]1 

Interest on this Note will accrue from the most recent date to which interest has been paid on this Note [or the Note surrendered in exchange
for this Note]2 (or, if there is no existing default in the payment of interest and if this Note is authenticated between a regular record date and the next interest payment date, from such
interest payment date) or, if no interest has been paid, from March 31, 2016. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 

The Company will pay interest on overdue principal, premium, if any, and, to the extent lawful, interest at a rate per annum equal to the rate
otherwise accruing on this Note. Interest not paid when due and any interest on principal, premium or interest not paid when due will be paid to the Persons that are Holders on a special record date, which will be the 15th day preceding the date fixed by the Company for the payment of such interest, whether or not such day is a Business Day. At least 15 days before a special record date, the Company will send to each
Holder and to the Trustee a notice that sets forth the special record date, the payment date and the amount of interest to be paid. 
  

	2.	Indentures; Subsidiary Guarantee; Security. 

 This is one of the Notes issued
under an Indenture dated as of March 31, 2016 (as amended from time to time, the “Indenture”), between and among the Company, the Subsidiary 

 

	1 	Include for Initial Notes only. 

	2 	 Include only for Exchange Note. 

  
 A-4 

 
Guarantors and Wilmington Savings Fund Society, FSB, as Trustee. Capitalized terms used herein are used as defined in the Indenture unless otherwise indicated. The terms of the Notes include
those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act. The Notes are subject to all such terms, and Holders are referred to the Indenture and the Trust Indenture Act for a statement of all such
terms. To the extent permitted by applicable law, in the event of any inconsistency between the terms of this Note and the terms of the Indenture, the terms of the Indenture will control. 

The Notes are general obligations of the Company secured by a second-priority Lien on the Collateral, as set forth in the Indenture and the
Security Instruments, and are subject to the Intercreditor Agreement as provided in the Indenture and the Intercreditor Agreement. All Initial Notes and Additional Notes vote together for all purposes as a single class. This Note is guaranteed by
the Subsidiary Guarantors as set forth in the Indenture. 
 Reference is made to the Intercreditor Agreement as defined in the Indenture.
Each Holder of Notes, by its acceptance thereof and of the Subsidiary Guarantees (a) consents to the provisions of the Intercreditor Agreement regarding the distribution of proceeds from realizing on Collateral, (b) agrees that it will be
bound by, and will take no actions contrary to, the Intercreditor Agreement and (c) authorizes and instructs the Trustee on behalf of each Holder of Notes to enter into the Intercreditor Agreement on behalf of the Holders of Notes. 

 

	3.	Redemption and Repurchase; Discharge Prior to Redemption or Maturity. 

 This Note
is subject to optional redemption, and may be the subject of an Offer to Purchase, as further described in the Indenture. There is no sinking fund or mandatory redemption applicable to this Note. 

If the Company deposits with the Trustee money or Government Securities sufficient to pay the then outstanding principal of, premium, if any,
and accrued interest on the Notes to redemption or maturity, the Company may in certain circumstances be discharged from the Indenture and the Notes or may be discharged from certain of its obligations under certain provisions of the Indenture. 

 

	4.	Registered Form; Denominations; Transfer; Exchange. 

 The Notes are in registered
form without coupons in denominations of $2,000 principal amount and any multiple of $1 in excess thereof. A Holder may register the transfer or exchange of Notes in accordance with the Indenture. The Trustee may require a Holder to furnish
appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. Pursuant to the Indenture, there are certain periods during which the Trustee will not be required to issue, register the
transfer of or exchange any Note or certain portions of a Note. 
  

	5.	Defaults and Remedies. 

 If an Event of Default, as defined in the Indenture,
occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes may declare all the 

  
 A-5 

 
Notes to be due and payable. If a bankruptcy or insolvency default as provided in the Indenture occurs and is continuing, the Notes automatically become due and payable as provided in the
Indenture. Holders may not enforce the Indenture or the Notes except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the Notes. Subject to certain limitations, Holders of a
majority in aggregate principal amount of the Notes then outstanding may direct the Trustee in its exercise of remedies. 
  

	6.	Amendment and Waiver. 

 Subject to certain exceptions set forth in the Indenture, the
Indenture and the Notes may be amended, or default may be waived, with the consent of the Holders of a majority in aggregate principal amount of the outstanding Notes. In addition, the consent of Holders of at least 66.67% in aggregate principal
amount of the outstanding Notes will be required to release the Liens for the benefit of the Holders on all or substantially all of the Collateral, other than in accordance with the Note Documents. Without notice to or the consent of any Holder, the
Company and the Trustee may amend or supplement the Indenture or the Notes to, among other things, cure any ambiguity or defect or to correct or supplement any provision in the Indenture or the Notes that may be inconsistent with any other provision
therein. 
  

	7.	Authentication. 

 This Note is not valid until the Trustee (or Authenticating
Agent) manually signs the certificate of authentication on the other side of this Note. 
  

	8.	Governing Law. 

 This Note shall be governed by, and construed in accordance with,
the laws of the State of New York. 
  

	9.	Abbreviations. 

 Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A/ (= Uniform Gifts to Minors Act). 

The Company will furnish a copy of the Indenture to any Holder upon written request and without charge. 

  
 A-6 

 [FORM OF TRANSFER NOTICE] 

FOR VALUE RECEIVED the undersigned registered holder hereby sell(s), assign(s) and transfer(s) unto Insert Taxpayer Identification No. 

 
  
  

Please print or typewrite name and address including zip code of assignee 

 
  
  

the within Note and all rights thereunder, hereby irrevocably constituting and appointing 

 
  
  

attorney to transfer said Note on the books of the Company with full power of substitution in the premises. 

  
 A-7 

 [THE FOLLOWING PROVISION TO BE INCLUDED ON ALL CERTIFICATES BEARING A RESTRICTED LEGEND] 

In connection with any transfer of this Note occurring prior to six months after the later of the date of original issuance of the Notes and
the last date, if any, on which such Notes were owned by the Company or any Affiliate of the Company, the undersigned confirms that such transfer is made without utilizing any general solicitation or general advertising and further as follows: 

Check One 
  ̈ (1) This Note is being transferred to a “qualified institutional buyer” in compliance with Rule 144A under the Securities Act of 1933, as amended and certification in the form of Exhibit F
to the Indenture is being furnished herewith. 
  ̈ (2) This Note is being transferred to a
Non-U.S. Person in compliance with the exemption from registration under the Securities Act of 1933, as amended, provided by Regulation S thereunder, and certification in the form of Exhibit E to the Indenture is being furnished herewith. 

 ̈ (3) This Note is being transferred to an institutional “accredited investor” (as
defined) in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended, and certification in the form of Exhibit G to the Indenture is being furnished herewith. 

or 
  ̈ (4) This Note is being transferred other than in accordance with (1), (2) or (3) above and documents are being furnished which comply with the conditions of transfer set forth in this Note and
the Indenture. 
 If none of the foregoing boxes is checked, the Trustee is not obligated to register this Note in the name of any Person
other than the Holder hereof unless and until the conditions to any such transfer of registration set forth herein and in the Indenture have been satisfied. 
  

									
	Date:	 	  
	 		 	  

		 		 		 	Seller
					
		 		 		 	By	 	  

				
		 		 		 	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within-mentioned instrument in every particular, without alteration or any change whatsoever.

  
 A-8 

 Signature Guarantee:3 

 

			
	By	 	  

	To be executed by an executive officer

  

	3 	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Securities Transfer
Association Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended. 

  
 A-9 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you wish to have all of this Note purchased by the Company pursuant to Section 4.11 or Section 4.12 of the Indenture, check the
box:  ̈ 
 If you wish to have a portion of this Note purchased by the Company pursuant to
Section 4.11 or Section 4.12 of the Indenture, state the amount (in original principal amount) below: 
  

			
	$	 	  

	Date:	 	  

			
	Your Signature:	 	  

	(Sign exactly as your name appears on the other side of this Note)

			
		
	Signature Guarantee:1	 	  

  

	1 	Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Trustee, which requirements include membership or participation in the Securities Transfer
Association Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Trustee in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange
Act of 1934, as amended. 

  
 A-10 

 [SCHEDULE OF EXCHANGES OF NOTES]2 

The following exchanges of a part of this Global Note for Certificated Notes or a part of another Global Note have been made: 

 

									
	Date of Exchange	  	Amount of
decrease in
principal amount
of this Global
Note	  	Amount of
increase in
principal amount
of this Global
Note	  	Principal amount
of this Global
Note following
such decrease
(or increase)	  	 Signature of
authorized
officer of

Trustee

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

   

 

	2 	Include for Global Notes. 

  
 A-11 

 EXHIBIT B 

SUPPLEMENTAL INDENTURE 

dated as of             ,         

 between and among 
 REX
ENERGY CORPORATION, 
 The Subsidiary Guarantors Party Hereto 

and 
 WILMINGTON SAVINGS FUND
SOCIETY, FSB, 
 as Trustee 

1.00%/8.00% Senior Secured Second Lien Notes Due 2020 

  
 B-1 

 THIS SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), is entered into as
of             ,         , between and among REX ENERGY CORPORATION, a Delaware corporation (the “Company”), and [insert each new
Subsidiary Guarantor executing this Supplemental Indenture and its jurisdiction of incorporation or organization] (each a “New Guarantor”) and WILMINGTON SAVINGS FUND SOCIETY, FSB, as trustee (the “Trustee”). 

RECITALS 
 WHEREAS, the
Company, the Subsidiary Guarantors party thereto and the Trustee entered into the Indenture, dated as of March 31, 2016 (the “Indenture”), relating to the Company’s 1.00%/8.00% Senior Secured Second Lien Notes Due 2020
(the “Notes”); 
 WHEREAS, as a condition to the Trustee entering into the Indenture and the purchase of the Notes by the
Holders, the Company agreed pursuant to this Indenture to cause certain Restricted Subsidiaries to provide Subsidiary Guarantees in certain circumstances pursuant to which the New Guarantor shall guarantee on a senior secured second-lien basis the
Notes Obligations on the terms and conditions set forth herein and under the Indenture; 
 WHEREAS, the New Guarantor acknowledges that it
will receive a benefit from its entry into this Supplemental Indenture and the Company’s corresponding compliance with the terms of the Indenture; 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the premises and mutual covenants herein contained and intending to be legally bound, the parties to this Supplemental Indenture hereby agree as follows: 

Section 1. Capitalized terms used herein and not otherwise defined herein are used as defined in this Indenture. 

Section 2. Each New Guarantor, by its execution of this Supplemental Indenture, agrees to be a Subsidiary Guarantor under the Indenture
and to be bound by the terms of the Indenture applicable to Subsidiary Guarantors, including, but not limited to, Article 10 thereof 

Section 3. The New Guarantor hereby guarantees, on an senior secured, second-lien, joint and several basis, to each Holder, to the
Trustee and the successors and assigns of the Trustee on behalf of each Holder, the due and punctual payment of the Note Obligations. 

Section 4. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and
provisions thereof shall remain in full force and effect. Any reference in the Indenture to the Indenture, “hereof” or other words of like import shall be to the Indenture as so supplemented by this Supplemental Indenture. This
Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby and entitled to the rights created hereunder. The Supplemental Indenture
is an Note Documents. The Trustee makes no representation or warranty as to the validity or sufficiency of this Supplemental Indenture or with respect to the recitals contained herein, all of which recitals are made solely by the other parties
hereto. 

  
 B-2 

 Section 5. This Supplemental Indenture shall be governed by and construed in accordance with
the laws of the State of New York. 
 Section 6. This Supplemental Indenture may be signed in various counterparts which together will
constitute one and the same instrument. 
 Section 7. This Supplemental Indenture is an amendment supplemental to the Indenture and the
Indenture and this Supplemental Indenture will henceforth be read together. 

  
 B-3 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date first above written. 
  

			
	REX ENERGY CORPORATION, as Issuer
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	[NEW GUARANTOR(S)]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	WILMINGTON SAVINGS FUND SOCIETY, FSB, as Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 B-4 

 EXHIBIT C 

RESTRICTED LEGEND 
 THIS NOTE HAS NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS NOTE, THE GUARANTEES ENDORSED HEREON, NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, SOLD, ASSIGNED,
TRANSFERRED, PLEDGED, ENCUMBERED, OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE HOLDER OF THIS NOTE AND THE
GUARANTEES ENDORSED HEREON, BY ITS ACCEPTANCE HEREOF, AGREES NOT TO OFFER, SELL, OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE WHICH IS SIX MONTHS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND ANY SUBSEQUENT REOPENING OF THE NOTES
AND THE LAST DATE ON WHICH THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS NOTE AND THE GUARANTEES ENDORSED HEREON (OR ANY PREDECESSOR OF THIS NOTE AND THE GUARANTEES ENDORSED HEREON) (THE “RESALE RESTRICTION TERMINATION
DATE”), EXCEPT THAT THE NOTES MAY BE TRANSFERRED (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE
PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE
SECURITIES ACT, OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE, OR TRANSFER (1) PURSUANT TO
CLAUSE (D) PRIOR TO THE END OF THE 40-DAY DISTRIBUTION COMPLIANCE PERIOD WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR PURSUANT TO CLAUSE (E) PRIOR TO THE RESALE RESTRICTION TERMINATION DATE TO REQUIRE THE DELIVERY OF AN
OPINION OF COUNSEL, CERTIFICATION, AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND (2) IN EACH OF THE FOREGOING CASES, TO REQUIRE THAT A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THIS NOTE IS COMPLETED AND DELIVERED BY THE
TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF A HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 

  
 C-1 

 EXHIBIT D 

DTC LEGEND 
 UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS A BENEFICIAL INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF
OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE TRANSFER PROVISIONS OF THE INDENTURE. 

  
 D-1 

 EXHIBIT E 

Regulation S Certificate 

            , 20     

Wilmington Savings Fund Society, FSB 
 500 Delaware Avenue 

Wilmington, DE 19801 
 Attention: Corporate Trust 

Reference: Rex Energy Corporation 1.00%/8.00% Senior Secured Second Lien Notes Due 2020 

Rex Energy Corporation 
 366 Walker Drive 

State College, Pennsylvania 16801 
 Attention: General Counsel

  

	 	Re:	REX ENERGY CORPORATION 

 1.00%/8.00% Senior Secured Second Lien Notes Due 2020 (the
“Notes”) Issued under the Indenture (the “Indenture”) dated as of March 31, 2016 
 Ladies and Gentlemen: 

Terms are used in this Certificate as used in Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the
“Securities Act”), except as otherwise stated herein. 
 [CHECK A OR B AS APPLICABLE.] 

 ̈ A. This Certificate relates to our proposed transfer of $[●] principal amount of Notes issued under
the Indenture. We hereby certify as follows: 
 1. The offer and sale of the Notes was not and will not be made to a person in the United
States (unless such person is excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(vi) or the account held by it for which it is acting is excluded from the definition of “U.S. person” pursuant to Rule
902(k)(2)(i) under the circumstances described in Rule 902(h)(3)) and such offer and sale was not and will not be specifically targeted at an identifiable group of U.S. citizens abroad. 

2. Unless the circumstances described in the parenthetical in paragraph 1 above are applicable, either (a) at the time the buy order was
originated, the buyer was outside the United States or we and any person acting on our behalf reasonably believed that the buyer was outside the United States or (b) the transaction was executed in, on or through the facilities of a designated
offshore securities market, and neither we nor any person acting on our behalf knows that the transaction was pre-arranged with a buyer in the United States. 

3. Neither we, any of our affiliates, nor any person acting on our or their behalf has made any directed selling efforts in the United States
with respect to the Notes. 

  
 E-1 

 4. The proposed transfer of Notes is not part of a plan or scheme to evade the registration
requirements of the Securities Act. 
 5. If we are a dealer or a person receiving a selling concession, fee or other remuneration in
respect of the Notes, and the proposed transfer takes place during the Restricted Period (as defined in this Indenture), or we are an officer or director of the Company, we certify that the proposed transfer is being made in accordance with the
provisions of Rule 904(b) of Regulation S. 
  ̈ B. This Certificate relates to our proposed exchange of
$        principal amount of Notes issued under the Indenture for an equal principal amount of Notes to be held by us. We hereby certify as follows: 

1. At the time the offer and sale of the Notes was made to us, either (i) we were not in the United States or (ii) we were excluded
from the definition of “U.S. person” pursuant to Rule 902(k)(2)(vi) or the account held by us for which we were acting was excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(i) under the circumstances
described in Rule 902(h)(3); and we were not a member of an identifiable group of U.S. citizens abroad. 
 2. Unless the circumstances
described in paragraph 1(ii) above are applicable, either (a) at the time our buy order was originated, we were outside the United States or (b) the transaction was executed in, on or through the facilities of a designated offshore
securities market and we did not pre-arrange the transaction in the United States. 
 3. The proposed exchange of Notes is not part of a
plan or scheme to evade the registration requirements of the Securities Act. 

  
 E-2 

 You and the Company are entitled to rely upon this Certificate and are irrevocably authorized to
produce this Certificate or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 
  

									
		 		 		 	Very truly yours,
				
		 		 		 	[NAME OF SELLER (FOR TRANSFERS) OR OWNER (FOR EXCHANGES)]
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	
		 		 		 	Title:	 	
		 		 		 	Address:
					
	Date:	 	  
	 		 		 	

  
 E-3 

 EXHIBIT F 

Rule 144A Certificate 

            ,          

Wilmington Savings Fund Society, FSB 
 500 Delaware Avenue 

Wilmington, DE 19801 
 Attention: Corporate Trust 

Reference: Rex Energy Corporation 1.00%/8.00% Senior Secured Second Lien Notes Due 2020 

Rex Energy Corporation 
 366 Walker Drive 

State College, Pennsylvania 16801 
 Attention: General Counsel

  

	 	Re:	REX ENERGY CORPORATION 

 1.00%/8.00% Senior Secured Second Lien Notes Due 2020 (the
“Notes”) Issued under the Indenture (the “Indenture”) dated as of March 31, 2016 
 Ladies and Gentlemen: 

TO BE COMPLETED BY PURCHASER IF (1) ABOVE IS CHECKED. 

This Certificate relates to: 

[CHECK A OR B AS APPLICABLE.] 
  ̈ A. Our proposed purchase of $        principal amount of Notes issued under the Indenture. 

 ̈ B. Our proposed exchange of $        principal
amount of Notes issued under the Indenture for an equal principal amount of Notes to be held by us. 
 We and, if applicable, each account
for which we are acting, are a qualified institutional buyer within the meaning of Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended (the “Securities Act”). If we are acting on behalf of an
account, we exercise sole investment discretion with respect to such account. We are aware that the transfer of Notes to us, or such exchange, as applicable, is being made in reliance upon the exemption from the provisions of Section 5 of the
Securities Act provided by Rule 144A. Prior to the date of this Certificate we have received such information regarding the Company as we have requested pursuant to Rule 144A(d)(4) or have determined not to request such information. 

  
 F-1 

 You and the Company are entitled to rely upon this Certificate and are irrevocably authorized to
produce this Certificate or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 
  

									
		 		 		 	Very truly yours,
				
		 		 		 	[NAME OF PURCHASER (FOR TRANSFERS) OR OWNER (FOR EXCHANGES)]
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	
		 		 		 	Title:	 	
		 		 		 	Address:
					
	Date:	 	  
	 		 		 	

  
 F-2 

 EXHIBIT G 

Institutional Accredited Investor Certificate 

Wilmington Savings Fund Society, FSB 
 500 Delaware Avenue 

Wilmington, DE 19801 
 Attention: Corporate Trust 

Reference: Rex Energy Corporation 1.00%/8.00% Senior Secured Second Lien Notes Due 2020 

Rex Energy Corporation 
 366 Walker Drive 

State College, Pennsylvania 16801 
 Attention: General Counsel

  

	 	Re:	REX ENERGY CORPORATION 

 1.00%/8.00% Senior Secured Second Lien Notes Due 2020 (the
“Notes”) Issued under the Indenture (the “Indenture”) dated as of March 31, 2016 
 Ladies and Gentlemen: 

This Certificate relates to: 

[CHECK A OR B AS APPLICABLE.] 
  ̈ A. Our proposed purchase of $        principal amount of Notes issued under the Indenture. 

 ̈ B. Our proposed exchange of $        principal
amount of Notes issued under the Indenture for an equal principal amount of Notes to be held by us. 
 We hereby confirm that: 

1. We are an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the
Securities Act of 1933, as amended (the “Securities Act”) (an “Institutional Accredited Investor”). 
 2.
Any acquisition of Notes by us will be for our own account or for the account of one or more other Institutional Accredited Investors as to which we exercise sole investment discretion. 

3. We have such knowledge and experience in financial and business matters that we are capable of evaluating the merits and risks of an
investment in the Notes and we and any accounts for which we are acting are able to bear the economic risks of and an entire loss of our or their investment in the Notes. 

4. We are not acquiring the Notes with a view to any distribution thereof in a transaction that would violate the Securities Act or the
securities laws of any State of the United 

  
 G-1 

 
States or any other applicable jurisdiction; provided that the disposition of our property and the property of any accounts for which we are acting as fiduciary will remain at all times
within our and their control. 
 5. We acknowledge that the Notes have not been registered under the Securities Act and that the Notes may
not be offered or sold within the United States or to or for the benefit of U.S. persons except as set forth below. 
 6. The principal
amount of Notes to which this Certificate relates is at least equal to $250,000. 
 We agree for the benefit of the Company, on our own
behalf and on behalf of each account for which we are acting, that such Notes may be offered, sold, pledged or otherwise transferred only in accordance with the Securities Act and any applicable securities laws of any State of the United States and
only (a) to the Company, (b) pursuant to a registration statement which has become effective under the Securities Act, (c) to a qualified institutional buyer in compliance with Rule 144A under the Securities Act, (d) in an
offshore transaction in compliance with Rule 904 of Regulation S under the Securities Act, (e) in a principal amount of not less than $250,000, to an Institutional Accredited Investor that, prior to such transfer, delivers to the Trustee a duly
completed and signed certificate (the form of which may be obtained from the Trustee) relating to the restrictions on transfer of the Notes or (f) pursuant to an exemption from registration provided by Rule 144 under the Securities Act or any
other available exemption from the registration requirements of the Securities Act. 
 Prior to the registration of any transfer in
accordance with (c) or (d) above, we acknowledge that a duly completed and signed certificate (the form of which may be obtained from the Trustee) must be delivered to the Trustee. Prior to the registration of any transfer in accordance
with (e) or (f) above, we acknowledge that the Company reserves the right to require the delivery of such legal opinions, certifications or other evidence as may reasonably be required in order to determine that the proposed transfer is
being made in compliance with the Securities Act and applicable state securities laws. We acknowledge that no representation is made as to the availability of any Rule 144 exemption from the registration requirements of the Securities Act. 

We understand that the Trustee will not be required to accept for registration of transfer any Notes acquired by us, except upon presentation
of evidence satisfactory to the Company and the Trustee that the foregoing restrictions on transfer have been complied with. We further understand that the Notes acquired by us will be in the form of definitive physical certificates and that such
certificates will bear a legend reflecting the substance of the preceding paragraph. We further agree to provide to any person acquiring any of the Notes from us a notice advising such person that resales of the Notes are restricted as stated herein
and that certificates representing the Notes will bear a legend to that effect. 
 We agree to notify you promptly in writing if any of our
acknowledgments, representations or agreements herein ceases to be accurate and complete. 

  
 G-2 

 We represent to you that we have full power to make the foregoing acknowledgments,
representations and agreements on our own behalf and on behalf of any account for which we are acting. 
 You and the Company are entitled
to rely upon this Certificate and are irrevocably authorized to produce this Certificate or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

 

									
		 		 		 	Very truly yours,
				
		 		 		 	[NAME OF PURCHASER (FOR TRANSFERS) OR OWNER (FOR EXCHANGES)]
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	
		 		 		 	Title:	 	
		 		 		 	Address:
					
	Date:	 	  
	 		 		 	

  
 G-3 

 Upon transfer, the Notes would be registered in the name of the new beneficial owner as follows:

  

			
	By:	 	  

		
	Date:	 	  

 

			
	Taxpayer ID number:	 	  

  
 G-4 

 EXHIBIT H 

[FORM OF NOTATION OF GUARANTEE] 
 For
value received, each Subsidiary Guarantor (which term includes any successor Person under the Indenture) has, jointly and severally, unconditionally guaranteed, to the extent set forth in the Indenture and subject to the provisions in this Indenture
dated as of March 31, 2016 (the “Indenture”) between and among Rex Energy Corporation (the “Company”), the Subsidiary Guarantors party thereto and Wilmington Savings Fund Society, FSB, as trustee (the
“Trustee”), (a) the due and punctual payment of the principal of, premium on, if any, and interest, if any, on, the Notes, whether at maturity, by acceleration, redemption or otherwise, the due and punctual payment of interest
on overdue principal of, premium on, if any, and interest, if any, on, the Notes, if any, if lawful, and the due and punctual performance of all other Notes Obligations of the Company to the Holders or the Trustee all in accordance with the terms of
the Indenture and (b) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that the same will be promptly paid in full when due or performed in accordance with the terms of the extension or
renewal, whether at stated maturity, by acceleration or otherwise. The obligations of the Subsidiary Guarantors to the Holders of Notes and to the Trustee pursuant to the Notation of Guarantee and the Indenture are expressly set forth in Article 10
of the Indenture and reference is hereby made to the Indenture for the precise terms and limitations of the Notation of Guarantee.  
 Capitalized
terms used but not defined herein have the meanings given to them in the Indenture. 
  

					
	[Name of Subsidiary Guarantor(s)]
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 H-1 

 EXHIBIT I 

[FORM OF INTERCREDITOR AGREEMENT] 

  
 H-1 

 EXHIBIT J 

[FORM OF REGISTRATION RIGHTS AGREEMENT] 

  
 I-1

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