Document:

Document

SEVENTH AMENDMENT
to 
Loan and security agreement

This Seventh Amendment to Loan and Security Agreement (this “Amendment”) is entered into this 23rd day of December, 2020, by and between SILICON VALLEY BANK (“Bank”) and LIMELIGHT NETWORKS, INC., a Delaware corporation (“Borrower”) whose address is 1465 North Scottsdale Road, Suite 400, Scottsdale, Arizona 85257.
Recitals
A.    Bank and Borrower have entered into that certain Loan and Security Agreement dated as of November 2, 2015, as amended by that certain First Loan Modification Agreement dated as of March 30, 2016, as further amended by that certain Second Loan Modification Agreement dated as of October 25, 2016, as further amended by that certain Third Amendment to Loan and Security Agreement dated as of October 17, 2017, as further amended by that certain Fourth Amendment to Loan and Security Agreement dated as of February 27, 2018, as further amended by a certain Fifth Amendment to Loan and Security Agreement dated as of April 22, 2020 (the “Fifth Amendment”), and as further amended by a certain Sixth Amendment to Loan and Security Agreement dated as of July 22, 2020 (as the same may from time to time be further amended, modified, supplemented or restated, the “Loan Agreement”).  
B.    Bank has extended credit to Borrower for the purposes permitted in the Loan Agreement.  
C.    Borrower has requested that Bank amend the Loan Agreement to make certain revisions to the Loan Agreement as more fully set forth herein.
D.    Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below.
Agreement
    Now, Therefore, in consideration of the foregoing recitals and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:
1.Definitions.  Capitalized terms used but not defined in this Amendment shall have the meanings given to them in the Loan Agreement.
2.Amendments to Loan Agreement.
a.Section 2.3 (Overadvances).  The first sentence of Section 2.3 of the Loan Agreement is deleted in its entirety and replaced with the following:
1

“If, at any time during a Formula Borrowing Period, the outstanding principal amount of any Advances exceeds the lesser of either the Revolving Line or the Borrowing Base, Borrower shall immediately pay to Bank in cash the amount of such excess (such excess, the “Overadvance”).”  
b.Section 6.2 (Financial Statements, Reports).  Subsection (a) of Section 6.2 of the Loan Agreement is deleted in its entirety and replaced with the following:
“    (a)    at all times when a Formula Borrowing Period is in effect, a Borrowing Base Report (and any schedules related thereto and including any other information requested by Bank with respect to Borrower’s Accounts) (i) with each request for an Advance, (ii) within thirty (30) days after the last day of each month in which Advances are outstanding or an Advance request has been made, and (iii) thirty (30) days after the last day of each quarter to the extent not required pursuant to (ii) during any month in such quarter;”
c.Section 6.3 (Disputes).  The second sentence of subsection (b) of Section 6.3 of the Loan Agreement is hereby amended and replaced with the following:
“Borrower may forgive (completely or partially), compromise, or settle any Account for less than payment in full, or agree to do any of the foregoing so long as (i) Borrower does so in good faith, in a commercially reasonable manner, in the ordinary course of business, in arm’s-length transactions, and reports the same to Bank in the regular reports provided to Bank; (ii) no Default or Event of Default has occurred and is continuing; and (iii) during any Formula Borrowing Period, after taking into account all such discounts, settlements and forgiveness, the total outstanding Advances will not exceed the lesser of the Revolving Line or the Borrowing Base.”  

d.Section 6.6 (Access to Collateral; Books and Records).  The first and second sentences of Section 6.6 of the Loan Agreement is deleted in its entirety and replaced with the following:
“During any Formula Borrowing Period, at reasonable times, on one (1) Business Day’s notice (provided no notice is required if an Event of Default has occurred and is continuing), Bank, or its agents, shall have the right to inspect the Collateral and the right to audit and copy Borrower’s Books.  The foregoing inspections and audits shall be conducted at Borrower’s expense and no more often than once every twelve (12) months unless an Event of Default has occurred and is continuing in which case such inspections and audits shall occur as often as Bank shall determine is necessary, and provided further that such an inspection and audit will be conducted within ninety (90) days of the commencement of any Formula Borrowing Period.”

e.Section 13 (Definitions).  The following term and its definition set forth in Section 13.1 is deleted in its entirety and replaced with the following: 
2

“    “Availability Amount” is (a) during any Formula Borrowing Period, (i) the lesser of the Revolving Line or the amount available under the Borrowing Base minus (ii) the outstanding principal balance of any Advances and (b) during any Non-Formula Borrowing Period, (i) the Revolving Line minus (ii) the outstanding principal balance of any Advances.”
f.Section 13 (Definitions).  The following new defined terms are hereby inserted alphabetically in Section 13.1:
“    “Formula Borrowing Period” is any period of time during which a Non-Formula Borrowing Period is not in effect.”
“    “Non-Formula Borrowing Period” is each period (a) commencing on a day on which Borrower provides evidence to Bank satisfactory to Bank in its sole discretion, that Borrower has at all times during the immediately preceding calendar month maintained an Adjusted Quick Ratio of at least 1.50 to 1.0 and (b) terminating on the first day thereafter (if any) on which Borrower’s Adjusted Quick Ratio, as determined by Bank in its sole discretion, is less than 1.50 to 1.0.”
g.Exhibit B (Compliance Statement).  The Compliance Statement appearing as Exhibit B to the Loan Agreement is deleted in its entirety and replaced with the Compliance Statement attached as Schedule 1 attached hereto.
3.Limitation of Amendments.
a.The amendments set forth in Section 2, above, are effective for the purposes set forth herein and shall be limited precisely as written and shall not be deemed to (a) be a consent to any amendment, waiver or modification of any other term or condition of any Loan Document, or (b) otherwise prejudice any right or remedy which Bank may now have or may have in the future under or in connection with any Loan Document.
b.This Amendment shall be construed in connection with and as part of the Loan Documents and all terms, conditions, representations, warranties, covenants and agreements set forth in the Loan Documents, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect.
4.Representations and Warranties.  To induce Bank to enter into this Amendment, Borrower hereby represents and warrants to Bank as follows:
a.Immediately after giving effect to this Amendment (a) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and (b) no Event of Default has occurred and is continuing;
3

b.Borrower has the power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment;
c.The organizational documents of Borrower delivered to Bank on the Effective Date remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect;
d.The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, have been duly authorized; 
e.The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not and will not contravene (a) any law or regulation binding on or affecting Borrower, (b) any contractual restriction with a Person binding on Borrower, (c) any order, judgment or decree of any court or other governmental or public body or authority, or subdivision thereof, binding on Borrower, or (d) the organizational documents of Borrower; 
f.The execution and delivery by Borrower of this Amendment and the performance by Borrower of its obligations under the Loan Agreement, as amended by this Amendment, do not require any order, consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any governmental or public body or authority, or subdivision thereof, binding on Borrower, except as already has been obtained or made; and
g.This Amendment has been duly executed and delivered by Borrower and is the binding obligation of Borrower, enforceable against Borrower in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights.
5.Ratification of Perfection Certificate.  Except as set forth on Schedule 2 to the Fifth Amendment, Borrower hereby ratifies, confirms and reaffirms, all and singular, the terms and disclosures contained in a certain Perfection Certificate dated as of November 2, 2015, and acknowledges, confirms and agrees that the disclosures and information Borrower provided to Bank in such Perfection Certificate have not changed, as of the date hereof.
6.Integration.  This Amendment and the Loan Documents represent the entire agreement about this subject matter and supersede prior negotiations or agreements.  All prior agreements, understandings, representations, warranties, and negotiations between the parties about the subject matter of this Amendment and the Loan Documents merge into this Amendment and the Loan Documents.
4

7.Counterparts.  This Amendment may be executed in any number of counterparts and all of such counterparts taken together shall be deemed to constitute one and the same instrument.
8.Intentionally omitted.
9.Effectiveness.  This Amendment shall be deemed effective upon (a) the due execution and delivery to Bank of this Amendment by each party hereto, and (b) Borrower’s payment to Bank of Bank’s legal fees and expenses incurred in connection with this Amendment.
[Signature page follows.]

5

In Witness Whereof, the parties hereto have caused this Amendment to be duly executed and delivered as of the date first written above.

						
	BANK	BORROWER
	

SILICON VALLEY BANK

By:    /s/ Kyle Larrabee
Name:  Kyle Larrabee
Title:  Director
	

LIMELIGHT NETWORKS, INC.

By:  /s/ Daniel Boncel
Name: Daniel Boncel
Title:  Chief Financial Officer

Schedule 1

EXHIBIT B
COMPLIANCE STATEMENT
TO:    SILICON VALLEY BANK                Date:                  
FROM:  LIMELIGHT NETWORKS, INC.

Under the terms and conditions of the Loan and Security Agreement between Borrower and Bank (as amended, the “Agreement”), (1) Borrower is in complete compliance for the period ending _______________ with all required covenants except as noted below.  Attached are the required documents evidencing such compliance, setting forth calculations prepared in accordance with GAAP consistently applied from one period to the next except as explained in an accompanying letter or footnotes.  Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Agreement.
									
	Please indicate compliance status by circling Yes/No under “Complies” column.
	
	Reporting Covenant	Required	Complies
			
	Financial statements	Monthly within 30 days when Advances are outstanding or requested in said month	Yes   No
	Compliance Statement	Monthly within 30 days when Advances are outstanding or requested in said month;  otherwise, quarterly within 30 days	Yes   No
	10Q, 10K (including opinion of auditors) and 8-K	Within 5 days after filing with SEC	Yes   No
	A/R & A/P Agings and Deferred Revenue 
Report
	Monthly within 30 days when Advances are outstanding or requested in said month;  otherwise, quarterly within 30 days	Yes   No
	Borrowing Base Reports	(i) With Advance requests and (ii) monthly within 30 days when Advances are outstanding or requested in said month;  otherwise, quarterly within 30 days (not required during Non-Formula Borrowing Periods)	Yes   No   N/A
	Board-approved Projections	FYE within 60 days and as updated or amended	Yes   No

												
	Financial Covenant	Required	Actual	Complies
				
	Maintain at all times:			
	Adjusted Quick Ratio (must include at least 
$5,000,000 in in accounts with Bank and 
Bank’s Affiliates) (tested monthly when Advances are outstanding or requested in said month; otherwise, quarterly)
	> 1.0 : 1.0

$5,000,000 in in accounts with 
Bank and 
Bank’s Affiliates
	____ : 1.0______

$_______ 
in in 
accounts with 
Bank and 
Bank’s Affiliates)

	Yes   No

												
		Required	Actual	Non-Formula 
Borrowing 
Period in 
effect?

				
	Maintain as indicated:			
	Adjusted Quick Ratio	> 1.50 : 1.0	______ : 1.0	Yes   No

The following financial covenant analyses and information set forth in Schedule 1 attached hereto are true and accurate as of the date of this Compliance Statement.

												
	New Office, Business or Bailee Locations	Borrower	Collateral Description	Value of Collateral
				
				
				

The following are the exceptions with respect to the statements above: (If no exceptions exist, state “No exceptions to note.”)
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Schedule 1 to Compliance STATEMENT

Financial Covenant of Borrower
In the event of a conflict between this Schedule and the Agreement, the terms of the Agreement shall govern.
Dated:    ____________________
I.    Adjusted Quick Ratio (Section 6.9(d))
Required: > 1.0 : 1.0

Actual:     _____ : 1:0

									
	A.	Aggregate amount of Borrower’s unrestricted and unencumbered (other than Liens in favor of Bank pursuant to the general security interest granted in the Agreement) cash and Cash Equivalents held at such time by Borrower in Deposit Accounts or Securities Accounts maintained with Bank and, to the extent that they are subject to a fully-executed and enforceable Control Agreement in favor of Bank, Deposit Accounts or Securities Accounts maintained with Bank’s Affiliates and other financial institutions (provided that Borrower shall have at least Five Million Dollars ($5,000,000.00) in unrestricted and unencumbered (other than Liens in favor of Bank pursuant to the general security interest granted in the Agreement) cash and Cash Equivalents in Deposit Accounts or Securities Accounts in Borrower’s name maintained with Bank or Bank’s Affiliates)

	$    

	B.	Aggregate value of Borrower’s net billed accounts receivable, determined according to GAAP

	$    

	C.	Quick Assets (the sum of lines A and B)	$    

	D.	All obligations and liabilities of Borrower to Bank

	$    

	E.	Aggregate value of liabilities that should, under GAAP, be classified as liabilities on Borrower’s balance sheet, including all Indebtedness, not otherwise reflected in line D above, that mature within one (1) year	

$    

	F.	Current Liabilities (the sum of lines D and E)
    
	$    

	G.	Deferred Revenue	$    

	H.	Adjusted Quick Ratio ((i) line C divided by (ii) line F minus line G)

	

Is line H equal to at least 1.0 : 1.0?

          No, not in compliance              Yes, in complianceExhibit
10.1

 

AGREEMENT
AND ASSIGNMENT OF OIL, GAS AND MINERAL LEASE

 

STATE
OF LOUISIANA

 

PARISH
OF AVOYELLES

 

KNOW
ALL MEN BY THESE PRESENTS, that for and in consideration of the sum of Ten and No/100 ($10.00) Dollars and other good and valuable
considerations, the receipt and sufficiency of which is hereby acknowledged and full acquittance granted therefor,

 

PERSONALLY
CAME AND APPEARED:

 

GEOTERRE
OPERATING, LLC “Assignee”, a Louisiana Limited Liability Company, represented herein by its duly authorized Manager,
Roland F. Dugas, III, whose mailing address is Post Office Box 80016, Baton Rouge, Louisiana 70898; (TAX ID# XX-XXX-6760),
as “ASSIGNEE,”

 

which
has bargained, sold, transferred, assigned, set over and delivered and does by these presents BARGAIN, SELL, TRANSFER, ASSIGN,
SET OVER and DELIVER unto

 

WHITE
RIVER SPV 3, LLC., “Assignee”, a Texas Corporation, represented herein by its duly authorized CFO and Manager, Jason
“Jay” Puchir, whose mailing address is 5899 Preston Road, Suite 505 Frisco, Texas 75034, Frisco, Texas 75034; (TAX
ID# XX-XXX_____), as “ASSIGNEE,”

 

the
following described oil, gas and mineral leases, to-wit:

 

That
certain Oil, Gas and Mineral Lease in Avoyelles Parish by and Between DANNY DESHOTELS AND JANE BACQUE DESHOTELS, dated
August 24, 2020 but effective December 1, 2020 containing 1,658.30 acres; also described in that certain Memorandum of
Oil, Gas and Mineral lease, dated August 24, 2020, but effective December 1, 2020, containing 1,658.30 acres described
and attached hereto as Exhibit “A”.

 

Assignor
agrees to assign 100% or 100% of 8/8ths right, title and interest of Assignor in and to the Oil, Gas and Mineral Lease described
above, to Assignee, its successors or assigns, for the purpose of investigation, exploration and production of minerals from the
above described lease.

 

TO
HAVE AND TO HOLD the said interests above assigned unto the said Assignee,

 

Assignor
and Assignee agree to the following terms and conditions of the aforementioned assignment as well as any additional acreage contemplated
in this agreement:

 

		1.	This
act of assignment shall be effective as of September 4, 2020.

 

		2.	Assignee,
its successors and assigns, agree to indemnify and hold Assignor, its successors and assigns, harmless from and against
any and all liability or responsibility for injury to (including death of) persons or damage to property assigned herein, or third
persons of any kind arising out of or in connection with the operations of Assignee on the leased premises.

 

		3.	Assignee,
its successors and assigns, agree to fund and be responsible for the compliance of all State of Louisiana Department of Conservation
rules and regulations associated with the Assignee’s operations on the leased premises, including but not necessarily limited
to Plugging and Abandonment of any well(s).

 

		4.	Assignor,
its successors and assigns, agree to assign a 100% working interest (75% net revenue interest) to Assignee.

 

Assignor
agrees to assign 100% right, title and interest of Assignor in and to the Oil, Gas and Mineral lease described above. Assignee,
its successors or assigns, shall have the right of use of the leased premises for the purpose of investigation, exploration and
production of minerals from the above described horizon.

 

     

     

    

 

This
Agreement shall be governed by and construed in accordance with the Laws of the State of Louisiana with original venue
and jurisdiction in the State Court of Louisiana, Avoyelles Parish, and may he amended only in writing by the parties hereto.

 

THUS
DONE AND PASSED by Assignor before me, a Notary Public duly

 

Commissioned
and qualified in and for the Parish of E. Baton Rouge, State of Louisiana, and in the presence of the undersigned competent
witnesses on this 3rd day of September, 2020.

 

	WITNESSES:	 	ASSIGNOR:
	 	 	 
	 	 	GOETERRE
    OPERATING, L.L.C
	 	 	 
	/s/
    Jessica Oropesa	 	/s/
    Roland F. Dugas, III
	Printed Name: 	Jessica
    Oropesa	 	BY:
    ROLAND F. DUGAS, III, Manager

 

_____________________________

Printed
Name: ______________________

 

/s/
Marilyn Summers

NOTARY
PUBLIC

 

Printed
Name: Marilyn Summers

Notary/Bar
Roll No: 64784

 

LIFETIME
COMMISSION

 

*****************************************************************************************************

 

THUS
DONE AND PASSED by Assignor before me, a Notary Public duly

 

Commissioned
and qualified in and for the Parish/County of Collin, State of Texas, and in the presence of the undersigned competent witnesses
on this 4th day of September, 2020.

 

	WITNESS	 	ASSIGNEE
	 	 	 
	 	 	WHITE RIVER SPV
    3, L.L.C.
	/s/ Jake Helgeson	 	 
	Printed Name:
    Jake Helgeson	 	 
	 	 	 
	 	 	/s/ Jason Puchir
	 	 	By: JASON “JAY”
    PUCHIR, CFO & Manager
	 	 	 
	/s/ Kane Snachez	 	 
	Printed Name: Kane
    Sanchez	 	 

 

/s/
Jake Helgeson

NOTARY
PUBLIC

 

Printed
Name: Jake Helgeson

Notary/Bar
Roll No: 131225164

 

    Page 2

     

    

 

EXHIBIT
“A”

 

STATE
OF LOUISIANA

 

PARISH
OF AVOYELLES

 

MEMORANDUM
OF OIL, GAS AND MINERAL LEASE

 

Notice
is hereby given that as of December 1, 2020 (the “Effective Date”), an Oil, Gas and Mineral Lease the “Lease”)
was made and entered into by and between DANNY DESHOTELS AND JANIE BACQUE DESHOTELS, whose address is 18567 Highway 15,
Lettsworth, LA (hereinafter referred to as “Lessor”), and GEOTERRE OPERATING, L.L.C. (TAX ID# XX-XXX-6760), a
Louisiana Limited Liability Company. represented herein by its duly authorized Manager, ROLAND F. DUGAS, III, whose mailing address
is Post Office Box 80016, Baton Rouge, Louisiana 70398-0016 (hereinafter referred to as “Lessee”), wherein Lessor granted,
leased and let unto Lessee the exclusive right to explore for and produce oil, gas, condensate and other hydrocarbons and by-products
produced with or contained in any of the foregoing, together with the use of the surface of the land for all purposes incident
thereto to the extent permitted by the Lease, and to own, possess, treat, process, store and transport the minerals produced from
or attributable to the following described land, containing 1,658.30 acres, more or less, in Avoyelles Parish, Louisiana,
and more particularly described in Exhibit “A”, which is attached hereto and hereby made a part hereof.

 

The
Lease provides for an initial term of four (4) years and zero (0) months commencing on the Effective Date, (the “Primary
Term”), and as long thereafter as oil and gas or either of them is produced in paying quantities from said land or acreage
pooled therewith. The Lease provides that at and after the end of the Primary Term, unit operations or production shall maintain
the Lease in effect only as to the land included in the unit and then only as to certain depths, all as is more particularly prescribed
therein. Except for the right to extend the term of the Lease by the payment of delay rentals, the Lease does not contain an option,
right of first refusal or other agreement of the lessor to transfer all or any part of the leased premises. The Lease contains
such other provisions with respect to the conduct of operations, payment of royalties, offset provisions, partial releases, notice
and other such terms and conditions as are usual and customary in the industry.

 

The
purpose of this Memorandum is to apprise and give notice to all parties of the existence of the Lease in accordance with R.S.
9:2742 and is not intended in any way to modify, amend or supplement the terms and provisions of the Lease. Both Lessor and Lessee
have possession of a fully executed original of the Lease, which is open for examination and investigation by any party of interest
during reasonable business hours in the offices of Lessee.

 

This
Memorandum and all of its terms, conditions, covenants and provisions as well as those of the Lease shall extend to and be binding
upon the successors and assigns of Lessor and Lessee.

 

This
Memorandum may be executed in multiple counterparts, each of which shall be deemed an original and shall be binding upon the parties
executing same whether or not executed by all parties hereto. Lessor and Lessee hereby agree that the counterpart signature and
acknowledgment pages of this Memorandum may be detached and attached to one identical counterpart for the purposes of recordation,
which instrument as so constructed shall constitute an original instrument as if executed by all the parties hereto.

 

IN
WITNESS WHEREOF, this instrument is executed as of the date first above written.

 

	WITNESS:	 	LESSOR:
	 	 	 
	/s/ Shauntelle Adams	 	/s/ Danny Deshotels
	Printed Name: Shauntelle Adams	 	DANNY DESHOTELS
	 	 	 
	/s/ Becky Sellers	 	 
	Printed Name: Becky
    Sellers	 	 

 

    Page 3

     

    

 

	WITNESS:	 	LESSOR:
	 	 	 
	/s/ Becky Sellers	 	/s/ Janie Bacque
    Deshotels
	Printed Name: Becky Sellers	 	JANIE BACQUE DESHOTELS
	 	 	 
	/s/ Shauntelle
    Adams	 	 
	Printed Name: Shauntelle
    Adams	 	 

 

ACKNOWLEDGMENT

 

STATE
OF LOUISIANA

PARISH
OF AVOYELLES

 

On
this 24 day of August, 2020, before me appeared DANNY DESHOTELS AND JANIE BACQUE DESHOTELS to me personally
known, who, being by me duly sworn, did say that the above and foregoing Oil, Gas and Mineral Lease was signed and acknowledged
as free act and deed.

 

	/s/ Britni G. Lacour	 
	Notary Public	 
	Printed Name: Britni G. Lacour	 
	Bar Roll / Notary License No. 65263	 
	My Commission expires: Commissioned for Life	 

 

WITNESS
WHEREOF, this instrument is executed as of the date first above written.

 

	WITNESSES:	 	LESSEE:
	 	 	 
	/s/ Becky Sellers	 	GEOTERRE OPERATING, L.L.C
	Printed Name: Becky Sellers	 	 
	 	 	 
	/s/ Shauntelle Adams	 	By:	 /s/ Roland F. Dugas, III
	Printed Name: Shauntelle Adams	 	Print Name: ROLAND F. DUGAS, III
	 	 	Title: MANAGER

 

ACKNOWLEDGMENT

 

STATE
OF LOUISIANA

 

PARISH
OF AVOYELLES

 

On
this 24 day of August 2020, before me, the undersigned Notary Public in and for the Parish and State of aforesaid,
appeared Roland F. Dugas, Ill, to me personally known, who being by me duly sworn did say that he is the Manager of Geoterre Operating,
LLC and that the above and foregoing Memorandum of Oil, Gas and Mineral Lease was signed on behalf of said company as its free
and voluntary act and deed for the uses and purposes therein set forth.

 

	 	/s/ Britni G.
    Lacour
	 	Notary Public
	 	 
	 	Printed
    Name: Britni G. Lacour
	 	Bar
    Roll / Notary License No. 65263
	 	My
    Commission expires: Commissioned for Life

 

    Page 4

     

    

 

EXHIBIT
“A”

 

ATTACHED
TO AND MADE A PART OF THAT CERTAIN MEMORANDUM OF OIL, GAS AND MINERAL LEASE, DATE DECEMBER 1, 2020. BY AND BETWEEN DANNY DESHOTELS
AND JANIE BACQUE DESHOTELS as LESSORS, AND GEOTERRE OPERATING, LLC AS LESSEE.

 

PROPERTY
DESCRIPTION

 

A
certain tract containing 1,658,30 acres, more or less, forming portions of Sections 22, 23, 26, and 27, T2SR5E Ward 8,
Avoyelles Parish, Louisiana, and Ward 4, St. Landry Parish, Louisiana, and more particularly described as follows:

 

To
reach the point of beginning, beginning at a point common to Sections 14, 15, 22 and 23, T2SR5E, Avoyelles Parish, Louisiana,
which point was previously marked by 1 1⁄2” pipe and 2” pipe; thence South 89 degrees 35 minutes 26 seconds West
439.50 feet to a point on the Western Toe of the West Atchafalaya Floodway West Guide Line Levee which point is marked by 2”
pipe; and which point is 333.50 feet east of the northwest corner of the tract herein described; and which point is the POINT
Of BEGINNING; thence North 89 degrees 35 minutes 26 seconds East 5,729.32 feet (previous call from Survey of October 12, 1999,
North 89 degrees, 32 minutes, 29 seconds East South, Range 5 East and is the northeast corner of the tract herein described; thence
South 00 degrees 09 minutes 07 seconds West across the parish line into St. Landry Parish 9,568.67 feet to a point marked by 1⁄2
inch iron rod set on April 25, 2005; which point is on the centerline of a private road known as the Levee Field Road in Section
26, Township 2 South, Range 5 East, St. Landry Parish, Louisiana; thence along the centerline of Levee Field Road on the following
calls: North 88 degrees 52 minutes 35 seconds West 39.73 feet; North 71 degrees 45 minutes 49 seconds West 75.08 feet; North 55
degrees 49 minutes 03 seconds West 354.40 feet; North 55 degrees 01 minute 18 seconds West 2,664.21 feet; South 69 degrees 28
minutes 14 seconds West 90.89 feet; South 75 degrees 37 minutes 30 seconds West 613.41 feet; South 69 degrees 25 minutes 22 seconds
West 74.65 feet; South 56 degrees 28 minutes 53 seconds West 67.65 feet; South 44 degrees 11 minutes 29 seconds West 90.32 feet;
South 36 degrees 34 minutes 30 seconds West 881.79 feet; South 46 degrees 46 minutes 58 seconds West 77.92 feet; South 56 degrees
00 minutes 24 seconds West 816.04 feet; South 56 degrees 20 minutes 14 seconds West 708.89 feet; South 55 degrees 17 minutes 37
seconds West 381.75 feet; and South 62 degrees 34 minutes 30 seconds West 640.28 feet to a point marked by 1/2 inch iron rod set;
thence leaving the centerline of Levee field Road proceed South 50 degrees 22 minutes 44 seconds West 353.88 feet; thence North
54 degrees 00 minutes 27 seconds West 143.96 feet; thence North 31 degrees 12 minutes 22 seconds West 78.13 feet; thence North
48 degrees 44 minutes 21 seconds East 103.87 feet; thence North 02 degrees 45 minutes 42 seconds West 102.92 feet; thence North
38 degrees 17 minutes 29 seconds West 60.36 feet; thence North 52 degrees 15 minutes 03 seconds West 62.44 feet, thence North
67 degrees 38 minutes 45 seconds West 68.81 feet; thence South 88 degrees 19 minutes 21 seconds West 92.45 feet; thence North
75 degrees 12 minutes 29 seconds West 227.64 feet; thence South 88 degrees 42 minutes 05 seconds West 87.09 feet; thence South
80 degrees 31 minutes 02 seconds West 155.75 feet; thence South 72 degrees 27 minutes 32 seconds West 63.33 feet; thence South
24 degrees 14 minutes 37 seconds West 36.25 feet; thence South 02 degrees 25 minutes 56 seconds East 125.66 feet; thence South
21 degrees 57 minutes 31 seconds East 272.36 feet; thence South 26 degrees 23 minutes 52 seconds East 188.70 feet; thence South
89 degrees 26 minutes 32 seconds West 346.95 feet; thence North 73 degrees 11 minutes 46 seconds West 499.83 feet; thence North
76 degrees 57 minutes 24 seconds West 576.69 feet; thence South 24 degrees 33 minutes 25 seconds West 407.09 feet; thence North
75 degrees 09 minutes 44 seconds West 1,189.18 feet to a point in the center line of the Bayou des Glaises Diversion Channel,
which point is the Southwest corner of the tract herein described; thence along the center line of the Diversion Channel on the
following calls: North 21 degrees 59 minutes 28 seconds East 979.48 feet to a point; thence across the parish line into Avoyelles
Parish North 21 degrees 49 minutes 33 seconds East 1,253.30 feet to a point; thence North 20 degrees 35 minutes 27 seconds East
1,859.40 feet to a point; thence North 21 degrees 10 minutes 08 seconds East 1,169.70 feet to a point; thence North 21 degrees
08 minutes 48 seconds East 885.40 feet to a point; thence North 20 degrees 40 minutes 24 seconds East 1,011.40 feet to a point;
thence North 21 degrees 01 minutes 42 seconds East 904.40 feet to a point; thence North 21 degrees 34 minutes 23 seconds East
1,269.30 feet to a point; thence North 16 degrees 18 minutes 45 seconds East 370.70 feet to a point; thence North 89 degrees 43
minutes 01 seconds West 96.50 feet to a point on the west side of the Diversion Channel thence North 17 degrees 36 minutes 22
seconds East 1,372.70 feet (previous call from Survey of October 12, 1999, North 17 degrees, 40 minutes, 26 seconds East 1,372.70
feet) to a point; which point is the northwest corner of the tract herein; thence North 89 degrees 05 minutes 01 seconds East
335.50 feet (previous call from Survey of October 12, 1999, North 89 degrees, 32 minutes, 29 seconds East 333.50 feet (actually
773 feet back to the common section corner)) back to the point of beginning; and being bounded now or formerly North by Estate
of Charles G. McDonald and Deshotels Plantation, L.L.C.; East by THISCO, et al; South by Tract 2 (518.83 acres) of the hereinafter
referenced survey, and West by west side of and centerline of Bayou des Glaises Diversion Channel; and more particularly identified
as Tract 1 - 1,658.30 acres, on plat of survey by Ronald Landreneau, Professional Land Surveyor, dated April 25, 2005, and recorded
on May 19, 2005 in Plat Book 29, page 477, Records of Avoyelles Parish, Louisiana; and in Conveyance Book F-41, page 377 under
Original Entry #944160 and in Map File _____, Records of St. Landry Parish, Louisiana; and being a portion of the property acquired
by Southern Trace Plantation, L.C. from W.A. Moncrief, Jr. Trust in Act of Cash Sale dated November 23, 1999 and recorded November
23, 1999, in Conveyance Book A-460, page 49 under Original Entry #99-9251, Records of Avoyelles Parish, Louisiana, and being a
portion of the property acquired by Southern Trace Plantation Partnership from Southern Trace Plantation, L.L.C. by Act of Cash
Sale with Assumption dated December 31, 1999 and recorded April 4, 2020, in Conveyance Book A-463, page 256, and Mortgage Book
460, page 454, Original Entry #00-002487, Records of Avoyelles Parish, Louisiana, and recorded April 6, 2000 in Conveyance Book
Y-37, page 164, and Mortgage Book 1030, page 285, Original Entry #854418, Records of St. Landry Parish, Louisiana;

 

 

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