Document:

EX-10.23

 Exhibit 10.23 
 CONTRIBUTION AGREEMENT 
 THIS CONTRIBUTION AGREEMENT, (this
“Agreement”) dated as of February 22, 2013, by and between BLACK ELK ENERGY OFFSHORE OPERATIONS, LLC, a Texas limited liability company (the “Company”), and PLATINUM PARTNERS BLACK ELK OPPORTUNITIES FUND LLC, a
Delaware limited liability company (“PPBE”). 
 BACKGROUND 

WHEREAS, PPBE has agreed from time to time to contribute to the Company, upon the terms and subject to the conditions set forth in this
Agreement, an amount not to exceed the aggregate $29,500,000 (each, a “Capital Contribution”); and 
 WHEREAS,
as consideration for each Capital Contribution, the Company shall issue to PPBE Class E Preferred Units and Class B Units, as described in Section 3; and 
 NOW, THEREFORE, incorporating the foregoing herein, and in consideration of the mutual promises herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound, the parties hereto agree as follows: 
 1. Contribution. Subject to the
terms and conditions of this Agreement, including Section 4, PPBE hereby agrees to make or cause its affiliates to make Capital Contributions to the Company from time to time during the period commencing on the date of this Agreement and ending
on March 30, 2013 (such period, the “Commitment Period”) in an aggregate amount equal to $29,500,000 and the Company hereby agrees to accept from PPBE the Capital Contributions. 

2. Funding Contributions. Subject to Section 4, PPBE or its affiliates shall make a Capital Contribution to the Company (by
wire transfer of immediately available funds to such account as the Company shall notify PPBE) on each date (or such earlier date as the Company and PPBE shall mutually agree) and in the amount set forth opposite such date in the following table:

  

					
	 Date
	  	Amount	 
	 February 22, 2013
	  	$	4,500,000	  
	 March 1, 2013
	  	$	5,000,000	  
	 March 8, 2013
	  	$	5,000,000	  
	 March 15, 2013
	  	$	5,000,000	  
	 March 22, 2013
	  	$	5,000,000	  
	 March 29, 2013
	  	$	5,000,000	  

 3. Issuance of Units. In consideration of the Capital Contribution in the amount of
$4,500,000 on February 22, 2013 and $5,000,000 on each other date specified above, the Company shall issue and deliver to PPBE (a) 4,500,000 Class E Preferred Units on February 22, 2013 and 5,000,000 Class E Preferred Units for each
other date specified having such rights, preferences and privileges as set forth in the Company’s Second Amended and Restated Operating Agreement, dated as of July 13, 2009, as amended by the First Amendment thereto dated as of
August 19, 2010, by the Second Amendment thereto dated as of May 31, 2011, by the Third Amendment thereto dated as of January 25, 2013 and by the Fourth Amendment thereto dated as of February 12, 2013 (as so amended, the
“Operating Agreement”), and (b) 342,000 Class B Units on February 22, 2013 and 380,000 Class B Units on each other specified date, having such rights, preferences and privileges as set forth in the Operating Agreement.
Upon each such issuance of such Class E Preferred Units and such Class B Units, the Company shall deliver to PPBE a cross receipt in substantially the form of Exhibit A attached hereto evidencing such issuance (the “Cross Receipt”).
At PPBE’s direction the Class E Preferred Units and/or the Class B Units will be issued in the name of such other person or entity it may designate in writing to the Company. 

4. Conditions to the Obligation of PPBE. The obligation of PPBE to make the Capital Contributions contemplated hereby is subject
to the satisfaction (or waiver by PPBE) of the following conditions: 
 (a) the representations and warranties made by the
Company hereunder shall be true and correct in all material respects as of the date of the Capital Contribution; 
 (b) the
Company shall have executed and delivered to PPBE this Agreement; and 
 (c) the Company shall have executed and delivered a
Cross Receipt with respect to the Capital Contribution. 
 5. Representations and Warranties. 

5.1 PPBE represents and warrants to the Company as follows: 
 (a) PPBE is a limited liability company duly formed, validly existing and in good standing under the laws of the State of Delaware with full power and authority to carry on its business and to own or
lease and to operate its properties as such business is conducted and such properties are owned, leased or operated. PPBE has the power and authority to execute, deliver and perform this Agreement and all agreements and documents contemplated hereby
(the “Ancillary Documents”) and to consummate the transactions contemplated hereby and thereby. 
 (b) The
execution and delivery by PPBE of this Agreement and the Ancillary Documents, and the consummation of the transactions contemplated hereby and thereby have been duly authorized by all requisite action of PPBE. PPBE has duly executed and delivered
this Agreement and the Ancillary Documents and this Agreement and the Ancillary Documents constitute legal, valid and binding agreements of PPBE, enforceable against it in accordance with 

  
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their terms, subject to applicable federal and state bankruptcy and insolvency laws affecting generally the rights of creditors. 

(c) The execution, delivery and performance by PPBE of this Agreement and the Ancillary Documents, and the consummation of the
transactions contemplated hereby and thereby, do not and will not conflict with, result in a breach or violation of, or constitute a default under, (i) the certificate of formation, limited liability company agreement or other organizational
documents of PPBE, (ii) any law, regulation or court order applicable to PPBE or (iii) any contract, license, lease commitment or other agreement to which PPBE or is a party or by which PPBE or any of its assets may be bound or affected.

 (d) PPBE is not required under federal, state, foreign or local law, rule or regulation to obtain any consent, authorization
or order of, or make any filing or registration with, any court or governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, in order for it to execute, deliver or perform any of its obligations under this
Agreement or the Ancillary Documents. 
 5.2 The Company represents and warrants to PPBE as follows: 

(a) The Company is a limited liability company duly formed, validly existing and in good standing under the laws of the State of Texas
with full power and authority to carry on its business and to own or lease and to operate its properties as such business is conducted and such properties are owned, leased or operated. The Company has the power and authority to execute, deliver and
perform this Agreement and the Ancillary Documents and to consummate the transactions contemplated hereby and thereby. 
 (b)
The execution and delivery by the Company of this Agreement and the Ancillary Documents, and the consummation of the transactions contemplated hereby and thereby, have been duly authorized by all requisite action of the Company. The Company has duly
executed and delivered this Agreement and the Ancillary Documents, and this Agreement and the Ancillary Documents constitute legal, valid and binding agreements of the Company, enforceable against the Company in accordance with their terms, subject
to applicable federal and state bankruptcy and insolvency laws affecting generally the rights of creditors. 
 (c) The
execution, delivery and performance by the Company of this Agreement and the Ancillary Documents, and the consummation of the transactions contemplated hereby and thereby, do not and will not conflict with, result in a breach or violation of, or
constitute a default under, (i) the certificate or articles of formation or organization or other organizational documents of the Company, (ii) any law, regulation or court order applicable to the Company or (iii) any contract,
license, lease commitment or other agreement to which the Company is a party or by which the Company or its assets may be bound or affected. 
 (d) The Company is not required under federal, state, foreign or local law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or
governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, in order for it to execute, deliver or perform any of its 

  
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obligations under this Agreement or the Ancillary Documents or issue the Class E Preferred Units or the Class B Units in accordance with the terms hereof. 

(e) There are no outstanding or authorized options, warrants, purchase rights, subscription rights, conversion rights, exchange rights,
or other contracts or commitments that could require the Company to issue, sell, or otherwise cause to become outstanding any of its equity interests. 
 6. Further Assurances. Each of the parties hereto shall, at its own expense, from time to time upon the request of the other, execute and deliver, or cause to be executed and delivered, at such
times as may reasonably be requested by the other party, such other documents, certificates and instruments and take such actions as the other party deems reasonably necessary to consummate more fully the transactions contemplated by this Agreement.

 7. Miscellaneous. 
 7.1 Entire Agreement. This Agreement and the Ancillary Documents delivered by the parties pursuant to this Agreement constitute the entire agreement among the parties with respect to the subject
matter of this Agreement and supersede all prior agreements, understandings and negotiations, whether written or oral, with respect to the subject matter of this Agreement. 
 7.2 Notices. Unless otherwise provided for herein, notices and other communications required or permitted hereunder shall be in writing to the parties and addresses below and shall be delivered by
certified mail return receipt requested or express mail and also via facsimile. Such notice shall be deemed to have been received on the date delivered. 
 If to the Company: 
 Black Elk Energy Offshore Operations, LLC 

11451 Katy Freeway, Suite 500 
 Houston, Texas 77079 
 Telephone: (281) 598-8600 

Facsimile: (281) 598-8601 
 Attn: John Hoffman 
 With a copy to: 

Liskow & Lewis 
 1001 Fannin Street, Suite 1800 
 Houston, Texas 77002 

Telephone: (713) 651-2984 
 Facsimile: (713) 651-2908 
 Attn: John T. Bradford 

If to PPBE: 

  
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 c/o Platinum Partners Value Arbitrage Fund, LP 

Carnegie Hall Tower 
 152 West 57th Street, 4th Floor 
 New York, New York 10019 

Telephone: (212) 582-2222 
 Facsimile: (212) 582-2424 
 Attn: David Levy 

With a copy to: 

Blank Rome LLP 

The Chrysler Building 
 405 Lexington Avenue 
 New York, New York 10174-0208 

Telephone: (212) 885-5431 
 Facsimile: (917) 332-3065 
 Attn: Eliezer M. Helfgott 

7.3 Counterparts. This Agreement may be executed in any number of counterparts, and each such counterpart shall be deemed to be an
original instrument, but all such counterparts together shall constitute one and the same instrument. 
 7.4 Governing
Law. This Agreement and the documents, agreements and instruments contemplated hereunder (unless expressly stated therein to the contrary) shall be construed and interpreted in accordance with the laws of the State of New York, without regard to
conflicts of law or choice of law principles thereof. 
 7.5 SUBMISSION TO JURISDICTION. 

(a) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT SHALL BE BROUGHT EXCLUSIVELY IN THE COURTS OF THE STATE OF NEW YORK
SITTING IN NEW YORK CITY OR OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY HEREBY ACCEPTS FOR ITSELF AND (TO THE EXTENT PERMITTED BY LAW) IN RESPECT OF ITS
PROPERTY, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING, WITHOUT LIMITATION, ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON
CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY SUCH ACTION OR PROCEEDING IN SUCH RESPECTIVE JURISDICTIONS. THIS SUBMISSION TO JURISDICTION IS EXCLUSIVE AND PRECLUDES A PARTY FROM OBTAINING JURISDICTION OVER ANOTHER PARTY IN
ANY COURT OTHERWISE HAVING JURISDICTION. 

  
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 (b) EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ANY
SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING MAY BE EFFECTED BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL), POSTAGE PREPAID, TO ITS ADDRESS SET FORTH HEREIN OR AT SUCH OTHER ADDRESS OF
WHICH THE OTHER PARTY HERETO SHALL HAVE BEEN NOTIFIED IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS AGREEMENT. 
 7.6
WAIVER OF JURY. EACH PARTY HEREBY (A) IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN;
(B) IRREVOCABLY WAIVES, TO THE MAXIMUM EXTENT NOT PROHIBITED BY LAW, ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY SUCH LITIGATION ANY SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, OR DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL
DAMAGES; (C) CERTIFIES THAT NO PARTY HERETO NOR ANY REPRESENTATIVE OR AGENT OF COUNSEL FOR ANY PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, OR IMPLIED THAT SUCH PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVERS, AND (D) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS CONTAINED IN THIS SECTION 7.6.  

[Signature Page Follows] 

  
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 IN WITNESS WHEREOF, intending to be legally bound hereby, each of the parties hereto has
caused this Agreement to be duly executed by an authorized officer as of the date first above written. 
  

			
	 BLACK ELK ENERGY OFFSHORE OPERATIONS, LLC

		
	By:	 	/s/ John Hoffman
		 	 Name: John Hoffman
 Title:
President and CEO

  

			
	 PLATINUM PARTNERS BLACK ELK OPPORTUNITIES FUND LLC

		
	By:	 	/s/ Daniel Small
		 	 Name: Daniel Small
 Title:
Portfolio Manager

  
 [Signature
Page to Contribution Agreement] 

 EXHIBIT A 
 Form of Cross Receipt 
 Reference is made to that certain Contribution Agreement,
dated as of February 22, 2013 (amended, amended and restated, supplemented or otherwise modified from time to time, the “Agreement”), between Black Elk Energy Offshore Operations, LLC (the “Company”) and
Platinum Partners Black Elk Opportunities Fund LLC (“PPBE”). Capitalized terms used by not defined herein shall have the meaning set forth in the Agreement. 
 The Company hereby acknowledges to PPBE that on             , 2013 (the “Issuance Date”) the Company received a Capital
Contribution from PPBE in the amount of $            and that on the Issuance Date the Company has issued to PPBE or to such person designated by PPBE
            Class E Preferred Units and             Class B Units. 

 

							
	Dated:                     , 2013	 		 	 BLACK ELK ENERGY OFFSHORE
OPERATIONS, LLC

				
		 		 	By:	 	 
		 		 		 	 Name:

Title:

 Acknowledgement 
 By this Acknowledgement, PPBE hereby acknowledges to the Company that it is deemed to have received on the Issuance Date the Class E Preferred Units and the Class B Units described above in exchange for
the Capital Contribution described above. 
  

							
	Dated:                     , 2013	 		 	PLATINUM PARTNERS BLACK ELK
      OPPORTUNITIES FUND LLC
				
		 		 	By:	 	 
		 		 		 	 Name:

Title:EX-10.26

 Exhibit 10.26 
 OFFER and SEPARATION AGREEMENT AND GENERAL RELEASE  

OFFER 
 To:
Douglas W. Fehr 
 The first three pages of this document constitute an offer to you by Black Elk Energy Offshore Operations, LLC
(“the Company”) in connection with your separation from employment. The remainder of this document is a Separation Agreement and General Release for you to sign if you accept the Company’s offer. One of the promises in the agreement
is that you will not make any statement that defames or disparages the Company. It is important that you read and understand the terms of this document in full and that if you decide to accept the Company’s offer and sign the Separation
Agreement and General Release; you do so knowingly and voluntarily. To enable you to do that, we suggest you consult with an attorney about this document and your rights before signing it. By signing the Separation Agreement and General Release, you
will not waive or give up any rights or claims you may have against the Company that arise after the date that you sign this Agreement. 
 The Company’s offer as described in this document will be open and effective for forty-five (45) days from the date shown below as the “effective date.” You may elect to accept or
reject this offer within that time period. If you do nothing within the 45-day period, the offer will be considered automatically withdrawn by the Company. 
 If you accept the offer and sign the Separation Agreement and General Release, you will have seven (7) days following the date you sign to change your mind and revoke the Agreement. In other words,
the Agreement will not be in effect until seven (7) days have passed following the date you sign. 

 Consideration for Release 
 As a result of the termination of your employment with the Company effective March 1, 2013, you will receive payment for wages earned through March 1, 2013, the end of the pay period in which
your termination occurred, and payment for any accrued, unused vacation leave. These items, and your rights under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), are yours, even if you decide not to sign the attached
Separation Agreement and General Release. 
 However, if you decide to sign the attached Separation Agreement and General
Release and waive the rights described therein, the Company will provide the following severance benefits to you: 
  

	 	•	 	 6 months (“the Severance Period”) of additional severance pay, less applicable required withholdings. The Company will make these severance
payments to you beginning on the Company’s first regular pay date following the expiration of the 7-day revocation period after you sign the Separation Agreement and General Release. 

 

	 	•	 	 According to the Company’s records, you hold an 8.312 percent Employee Interest in Black Elk Employee Incentive, LLC. Your Employee Interest will
terminate with the termination of your employment with the Company, unless the Board of Managers of the Company and the Managers of Black Elk Employee Incentive, LLC , in their sole discretion, determine otherwise. Provided that you execute this
Agreement within 45 days after you receive it and do not exercise your revocation rights within the 7-day period after you sign it, the Board of Managers of the Company and the Managers of Black Elk Employee Incentive, LLC, will consent to your
retaining your Employee Interest even though you are no longer an employee of the Company as of the Separation Date. 

 By signing this document on behalf of the Company, I am conveying the Company’s offer
to you. If you decide to accept the offer, please sign the Separation Agreement and General Release in the appropriate place within forty-five days (45) days and return it to Mary Patterson at the following address: Black Elk Energy, LLC, 11451
Katy Freeway, Suite 500, Houston, TX 77079. 
  

	
	/s/ John G. Hoffman
	John G. Hoffman, CEO
	Black Elk Energy, LLC
	11451 Katy Freeway, Suite 500
	Houston, TX 77079
	
	Effective Date: March 1, 2013

 SEPARATION AGREEMENT AND GENERAL RELEASE 

In consideration of the payments described below, I, Douglas W. Fehr, agree as follows: 

1. I (for myself, my heirs, executors, administrators, legal representatives and assigns) hereby release and forever discharge Black Elk
Energy Offshore Operations, LLC (the “Company”), Black Elk Employee Incentive, LLC (“BEEI”), and Black Elk Energy, LLC (“BEE”), and each of their respective affiliates and
subsidiaries, and each of their respective past, present and future subsidiaries, affiliates, stockholders, members, partners, directors, officers, managers, employees, agents, attorneys, heirs, successors and representatives, in their personal and
representative capacities, as well as all employee benefit plans maintained by the Company, BEEI, or BEE, or any of their affiliates or subsidiaries and all fiduciaries and administrators of any such plans, in their personal and representative
capacities (collectively, the “Black Elk Parties”), from liability for, and hereby waive, all claims, damages, or causes of action of any kind that I have, or could have, against any Black Elk Party, including without
limitation all claims, damages, or causes of action arising out of or relating to my employment with any Black Elk Party, the termination of such employment, or any other acts or omissions related to any matter occurring on or prior to the date that
I execute this Agreement, including without limitation any claims I may have arising under any federal, state, or local law or regulation, including, but not limited to, claims of discrimination on the basis of sex, race, color, religion, creed,
national origin, age, disability, genetic information, or any other protected status, claims of harassment or hostile work environment, wrongful termination, retaliation, reprisal, whistle blowing, defamation, and intentional infliction of emotional
distress, and particularly any rights I may have pursuant to the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, Title VII of the Civil Rights Act, the Americans with Disabilities Act, the Genetic Information and
Discrimination Act, and the Texas Labor Code, including without 

 
limitation Chapter 21 thereof (collectively, the “Released Claims”). I acknowledge and understand that I waive my right to recover any damages, penalties, interest,
lost wages, bonuses, attorneys’ fees or costs in connection with the Released Claims, whether through an action brought by me or any other person, entity or agency. 
 2. I have granted the release set forth above in consideration of the Company’s agreement to provide me the following severance benefits, which I would not otherwise be entitled to receive:

  

	 	•	 	 In consideration of your acceptance of this Agreement, the Company will pay you six (6) months of salary at your current rate of $11,979.17 per
pay period (“the Severance Period”), less taxes and other withholdings as may be required by federal, state, or local regulation or ruling, to be paid in accordance with the Company’s regular payroll practices, beginning on the first
regular pay date following the expiration of the 7-day revocation period after you sign this Separation Agreement and General Release. 

  

	 	•	 	 According to the Company’s records, you hold an 8.312 percent Employee Interest (as defined in the Amended and Restated Company Agreement of Black
Elk Employee Incentive LLC (the “BEEI LLC Agreement”)) in Black Elk Employee Incentive, LLC (“BEEI”), that you received pursuant to the Black Elk Energy Offshore Operations, LLC 2010
Employee Incentive Plan (the “Incentive Plan”), the Black Elk Energy Offshore Operations, LLC 2010 Employee Incentive Plan Grant (the “Grant”), and the Employee Incentive Award Grant
Agreement executed by the Company, BEEI, and you (the “Award Grant Agreement”) (the Incentive Plan, the Grant, the Award Grant Agreement, and that certain BEEI LLC Agreement, collectively, the “BEEI
Agreements”). Under the 

 terms of the BEEI Agreements, the termination of your employment with the Company, for any
reason or no reason, will terminate your ownership of any BEEI Employee Interest and your membership in BEEI, unless the Board of Managers of the Company and the Managers of BEEI, in their sole discretion, determine otherwise. 

 

	 	•	 	 Provided that you execute this Agreement within 45 days after you receive it and do not exercise your revocation rights within the 7-day period after
you sign it, the Board of Managers of the Company, as provided for in the Incentive Plan, the Grant, and the Award Grant Agreement, and the Managers of BEEI, as provided for in Section 5.3 of the BEEI LLC Agreement, will execute the documents
attached to the Separation Agreement and General Release as Exhibits [A] and [B], as applicable, and thereby consent to your retaining your BEEI Employee Interest even though you are no longer an employee of the Company as of the Separation Date. A
copy of the consent to be executed by the Board of Managers of the Company is attached hereto as Exhibit [A]. A copy of the consent to be executed by the Managers of BEEI is attached hereto as Exhibit [B]. 

I recognize that I am not entitled to automatically receive these severance benefits upon termination and that the Company is agreeing to
make them solely in exchange for the release set forth above. I also acknowledge that I have been paid all amounts to which I am entitled as a result of my employment with the Company, including but not limited to all wages, salary, bonuses and pay
for accrued, unused vacation or leave. 

 3. I acknowledge that the Company gave me forty-five (45) days to review this document
and encouraged me to consult an attorney before signing it. The decision as to whether to seek a lawyer’s advice has been mine. I am entering into this Separation Agreement and General Release freely and voluntarily, without any coercion or
duress. 
 4. I understand that I have seven (7) days from the date I sign below to revoke this Agreement. I further
understand that the Agreement will not become effective or enforceable until the seven (7) days have passed. I agree that if I wish to revoke the Agreement, I will do so in writing with my signature and the date of revocation. I understand that
the revocation must be delivered to the Company c/o Mary Patterson at the following address: 11451 Katy Freeway, Suite 500, Houston, TX 77079, no later than seven (7) days after the date signed below. 

5. I recognize that this Agreement is confidential, and I agree not to discuss the Agreement or its terms with anyone other than my
counsel, immediate family members, or my tax advisor. I acknowledge that my agreement to this confidentiality provision is a material reason for the Company’s decision to make this offer and provide the severance benefits described above.

 6. I agree that I will not make any statement, either verbally or in writing, which defames, disparages or causes damage or
injury to the Black Elk Parties. I further agree that I will not take any action to interfere with the Company’s business operations, business relationships, or employees. 

7. I recognize that, by virtue of having held the position I held with the Company, I have had access to and have learned confidential
and proprietary information and trade secrets pertaining to the Company, its operations, officers, directors and employees. I agree that I will not disclose any of the Company’s trade secrets or confidential or proprietary information to any
person or entity without express permission from the Company. I acknowledge that the documents and information covered by this confidentiality provision include, but are not limited to: intellectual property, trade secrets, proprietary software and
information systems, geological 

 
and geophysical data, formulas, financial records, pricing information, research and development, processes, marketing strategies, and such other documents and information as the Company has kept
confidential. If I have any question as to whether certain documents or information are covered by this confidentiality provision, I agree to treat such documents or information as confidential unless advised otherwise in writing by the Company.

 8. If required by law to provide sworn testimony regarding the Company, I agree to provide the Company reasonable notice of
the deposition, hearing, trial, or arbitration at which such testimony is to be provided. 
 9. I understand that by signing
this Agreement, I am not waiving or releasing any rights or claims that arise after I sign this Agreement, or any claim to vested benefits under an employee benefit plan of any Black Elk Party that is subject to the Employee Retirement Income
Security Act of 1974, as amended (“ERISA”). I also understand that nothing in this Agreement prevents me from filing a claim that is not legally waivable (including a challenge to the validity of this Agreement) with the Equal Employment
Opportunity Commission (“EEOC”) or comparable state or local agency or from participating in any investigation or proceeding conducted by the EEOC or comparable state or local agency; however, I understand and agree that I am
waiving all rights to recover any monetary or personal relief as a result of any such EEOC or comparable state or local agency or proceeding or subsequent legal actions. 
 10. I acknowledge that if I disclose this Agreement in breach of paragraph 5 above, disclose confidential information without written authority from the Company in violation of paragraph 7 above, make
defamatory or disparaging statements in violation of paragraph 6 above, or otherwise breach this Agreement, the Company may bring an action to enjoin the breach and recover such damages as are deemed appropriate by the court. 

 11. I have carefully read and fully understand all of the provisions of this document, and I
acknowledge that I have not relied upon any representation or statement, written or oral, not set forth in this document. I acknowledge that this Agreement supersedes all prior oral or written communications and agreements between the parties
concerning the subject matters covered by this Agreement. 
 12. I acknowledge that the Black Elk Parties do not admit any
liability of any type whatsoever to me. 
 13. I acknowledge that my employment with the Company terminated effective
March 1, 2013; that I will not be reinstated to my employment with the Company; and that I am not eligible to be rehired by the Company. 
 14. I acknowledge that I have turned over or will immediately turn over to the Company all of its records and property, including but not limited to keys, credit cards, security and access codes, manuals,
documents, computers, and phones. 
 15. I understand that each provision of this Agreement constitutes a separate and distinct
covenant, and that any declaration by a court that a provision of this Agreement is void or unenforceable shall not affect the validity or enforceability of the remainder of the Agreement. 

16. I understand that my employment with the Company has been terminated in a reduction in force affecting other employees besides
myself; that all of the Company’s employees were considered for termination and the offer of severance benefits; and that the termination decisions were based on performance record and the elimination of unnecessary or redundant positions. I
understand that all of the affected employees have been offered severance benefits in connection with their termination, and that the only applicable time limit on the offer of severance benefits is the 45-day limit mentioned above. I have been
advised of the information in Exhibit C concerning the employees selected and not selected for termination and severance benefits. 

 17. I agree that this Agreement shall be governed by the laws of the State of Texas and any
applicable federal law. 
  

			
	/s/ Douglas W. Fehr
	Douglas W. Fehr
		
	Date:	 	April 1, 2013

 EXHIBIT A TO SEPARATION AGREEMENT AND GENERAL RELEASE 

Written Consent of the Board of Management 
 of 
 BLACK ELK ENERGY OFFSHORE OPERATIONS, LLC 

Pursuant to the provisions of Section 6.201 et al of the Texas Business Organizations Code (the “TBOC”) and
Section 7.5 of the Second Amended and Restated Limited Liability Company Operating Agreement of Black Elk Energy Offshore Operations, LLC dated July 13, 2009, the undersigned persons, being a majority of the duly-authorized managers of
Black Elk Energy Offshore Operations, LLC (the “Company”), sign this instrument, or counterpart thereof, to evidence their consent to the resolutions set forth below, with the same force and effect as if such resolutions were
adopted by the required vote at a duly-called meeting of the Board of Management (the “Board”). 
 WHEREAS,
during his employment with the Company, Douglas W. Fehr (“Fehr”) was awarded an 8.312 percent Employee Interest (as defined in the Amended and Restated Company Agreement of Black Elk Employee Incentive, LLC dated August 20,
2010 (the “BEEI Company Agreement”)) in Black Elk Employee Incentive, LLC (the “BEEI Interest”) pursuant to the Black Elk Energy Offshore Operations, LLC 2010 Employee Incentive Plan (the “Incentive
Plan”), the Black Elk Energy Offshore Operations, LLC 2010 Employee Incentive Plan Grant (the “Plan Grant”), and the Employee Incentive Award Grant Agreement executed by Fehr, BEEOO, and Black Elk Employee Incentive, LLC
(the “Grant Agreement,” and collectively with the Incentive Plan and the Plan Grant, the “Incentive Agreements”); 
 WHEREAS, the rights and obligations associated with the BEEI Interest are governed by the terms of the Incentive Agreements and the BEEI Company Agreement; 

WHEREAS, Fehr’s employment with the Company has terminated; 

WHEREAS, Fehr has executed and not revoked the Separation Agreement and General Release entered into by Fehr, the Company, and
Black Elk Employee Incentive, LLC; 
 WHEREAS, the Board has carefully considered the facts and circumstances surrounding
Fehr’s employment with the Company; and 
 WHEREAS, pursuant to Section 3 of the Grant Agreement, in its
discretion and after due consideration, the Board has determined that though he is no longer an employee of the Company, Fehr should retain the BEEI Interest. 

 NOW, THEREFORE, BE IT RESOLVED, that, pursuant to Section 3 of the Grant
Agreement and subject to the terms of the Incentive Agreements, the BEEI Company Agreement, and the Separation Agreement and General Release, Fehr retain the BEEI Interest and any future rights and interests to which he may be entitled as the holder
of the BEEI Interest. 
 [signatures follow] 
 IN WITNESS WHEREOF, the undersigned managers expressly evidence their consent as of the date of execution. These resolutions may be executed in one or more counterparts. Each counterpart shall be
an original. All the counterparts together shall constitute but one and the same instrument, binding upon all of the managers, notwithstanding that all of the managers may not have executed the same counterpart. 

Executed this 1 day of March, 2013. 

 

			
	/s/ John Hoffman
		
	Printed Name:	 	John Hoffman
	
	Title: Manager

  

			
	
	/s/ Daniel Small
		
	Printed Name:	 	Daniel Small
	
	Title: Manager

  

			
	
	 
		
	Printed Name:	 	 
	
	Title: Manager

 EXHIBIT B TO SEPARATION AGREEMENT AND GENERAL RELEASE 

Written Consent of the Managers 
 of 
 BLACK ELK EMPLOYEE INCENTIVE, LLC 

Pursuant to the provisions of Section 6.201 et al of the Texas Business Organizations Code (the “TBOC”) and
Section 8.5 of the Amended and Restated Company Agreement of Black Elk Employee Incentive, LLC dated August 20, 2010 (the “BEEI Company Agreement”), the undersigned persons, being the duly-authorized managers of Black Elk
Employee Incentive, LLC (the “Managers”), sign this instrument, or counterpart thereof, to evidence their consent to the resolutions set forth below, with the same force and effect as if such resolutions were adopted by the required
vote at a duly-called meeting of the Managers. 
 WHEREAS, during his employment with Black Elk Energy Offshore
Operations, LLC (“BEEOO”), Douglas W. Fehr (“Fehr”) was awarded an 8.312 percent Employee Interest (as defined in the BEEI Company Agreement) in Black Elk Employee Incentive, LLC (the “BEEI
Interest”) pursuant to the Black Elk Energy Offshore Operations, LLC 2010 Employee Incentive Plan, the Black Elk Energy Offshore Operations, LLC 2010 Employee Incentive Plan Grant, and the Employee Incentive Award Grant Agreement executed
by Fehr, BEEOO, and Black Elk Employee Incentive, LLC (collectively, the “Grant Agreements”); 

WHEREAS, the rights and obligations associated with the BEEI Interest are governed by the terms of the Grant Agreements and the
BEEI Company Agreement; 
 WHEREAS, Fehr’s employment with BEEOO has terminated; 

WHEREAS, Fehr has executed and not revoked the Separation Agreement and General Release executed by Fehr, BEEOO, and Black Elk
Employee Incentive, LLC; 
 WHEREAS, the Managers have carefully considered the facts and circumstances surrounding
Fehr’s employment with BEEOO; and 
 WHEREAS, pursuant to Section 5.3 of the BEEI Company Agreement, in their
sole discretion and after due consideration, the Managers have determined that though he is no longer an employee of BEEOO, Fehr should retain the BEEI Interest. 
 NOW, THEREFORE, BE IT RESOLVED, that, pursuant to Section 5.3 of the BEEI Company Agreement and subject to the terms of the Grant Agreements, the BEEI Company Agreement, and the Separation
Agreement and General Release, Fehr retain the BEEI Interest and any future rights and interests to which he may be entitled as the holder of the BEEI Interest. 
 [signatures follow] 

 IN WITNESS WHEREOF, the undersigned Managers expressly evidence their consent as of
the date of execution. These resolutions may be executed in one or more counterparts. Each counterpart shall be an original. All the counterparts together shall constitute but one and the same instrument, binding upon all of the Managers,
notwithstanding that all of the Managers may not have executed the same counterpart. 
 Executed this
1st day of April, 2013. 

 

			
	/s/ John Hoffman
		
	Printed Name:	 	 John Hoffman 

	Title: Manager

 EXHIBIT C TO SEPARATION AGREEMENT AND GENERAL RELEASE 

 

																	
	 JOB TITLE
	  	NUMBER OF
EMPLOYEES
SELECTED	 	  	AGES	 	  	NUMBER OF
EMPLOYEES
NOT
SELECTED	 	  	AGES OF
THOSE NOT
SELECTED	 
	 Executive VP Facilities
	  	 	1	  	  	 	58	  	  	 	0	  	  			
	 Vice President Production
	  	 	1	  	  	 	55	  	  	 	0	  	  			
	 Sr. Drilling Engineer
	  	 	1	  	  	 	64	  	  	 	1	  	  	 	55	  
	 Asset Manager
	  	 	1	  	  	 	38	  	  	 	3	  	  	 	59, 47, 37	  
	 Integrity Engineer
	  	 	1	  	  	 	30	  	  	 	1	  	  	 	28	  
	 Engineering Tech
	  	 	1	  	  	 	47	  	  	 	4	  	  	 	62, 46, 27, 26	  
	 Financial Planning / P & A
	  	 	1	  	  	 	27	  	  	 	0	  	  			
	 Security Administrator
	  	 	1	  	  	 	36	  	  	 	0	  	  			
	 Accounting Associate
	  	 	1	  	  	 	41	  	  	 	4	  	  	 	28, 34, 27, 43

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00215-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00215-of-00352.parquet"}]]