Document:

Exhibit 10.4

 

THIS INSTRUMENT AND THE SECURITIES ISSUABLE UPON
THE CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THEY MAY NOT
BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE ACT OR UPON RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER THE
ACT.

 

SENIOR SECURED PROMISSORY NOTE

 

Date of Issuance

	US $800,000	April 1, 2020

 

FOR VALUE RECEIVED, Loop
Media, Inc., a Nevada corporation (the “Company”), hereby promises to pay to Excel Family Partnership, LLLP and
their permitted assigns (each individually, a “Holder” and collectively, the “Holders”), the principal
sum of US $800,000.00 (the “Principal Amount”). The Issuer further promises to pay interest on the outstanding Principal
Amount from time to time, in the manner and at the rates specified in Section 2 hereof. In no
event shall this Note be construed to require payment of interest in an amount in excess of the maximum allowed by law, and if such payment
is made by the Company, then such excess sum shall be credited by the Holders as a payment of principal. This Note evidences a commercial
loan made for business purposes.

 

This Senior Secured Promissory
Note (including all Senior Secured Promissory Notes issued in exchange, transfer or replacement hereof) (this “Note”
and, together with all other Senior Secured Promissory Notes issued by the Company pursuant to a Note Purchase and Security Agreement
in the aggregate principal amount of up to $3,000,000.00 (the “Financing”), collectively, the “Notes”),
is issued pursuant to that certain Note Purchase and Security Agreement dated as of the date of issuance set forth above (the "Issue
Date") by and between the Company and the Holder (the “Purchase Agreement”). Certain capitalized terms used
herein are defined in Section 4.2. Capitalized terms used but not defined herein shall have the meanings set forth in the Purchase
Agreement.

 

1.            Payment
of Principal.  Unless converted into Common Stock ("Conversion Shares"), the entire principal amount of this
Note, plus accrued and unpaid Interest, will be due and payable by the Company on December 1, 2022 (the “Maturity Date”).
The Company shall have the privilege and option, in its sole and absolute discretion, without penalty or forfeiture, to pay the entire
principal amount of this Note or any part thereof, together with accrued and unpaid Interest, at any time prior to the Maturity Date.
All payments of principal and Cash Interest will be made in cash in lawful money of the United States of America paid and delivered, in
immediately available funds, at the principal office of such Holder, or at such other place as such Holder may from time to time designate
in writing to the Company.

 

2.            Interest;
Interest Rates.  During the term of this Note: (a) interest of four percent (4%) per annum shall accrue on the outstanding
Principal Amount from and including the Issue Date and be payable in cash (“Cash Interest”); and (b) interest
of six percent (6%) per annum shall accrue on the outstanding Principal Amount from and including the Issue Date and be payable in shares
of Common Stock ("Shares") in arrears (“PIK Interest,” and together with Cash Interest, "Interest").
All Interest will be computed on the basis of a 360-day year of twelve (12) 30-day months. Interest hereunder will be paid to the Holder
or its permitted assignee in whose name this Note is registered on the records of the Company.

 

2.1           Cash
Interest Payments. Cash Interest for the period from the Issue Date to November 30, 2021 is payable in advance at the Issue Date.
Six (6) months of Cash Interest is payable in arrears on June 1, 2022. Six (6) months of Cash Interest is payable in arrears
on the Maturity Date.

 

    	 	1	 

     

    

 

2.2           PIK
Interest Payments. PIK Interest is payable on June 1, 2021, December 1, 2021, June 1, 2022 and the Maturity Date (each,
a “PIK Interest Payment Due Date”). The number of Shares to be issued on a PIK Interest Payment Due Date is equal to:
(a) the amount of PIK Interest accrued as of such date, divided by the average of the VWAP of Common Stock during each Trading Day
during the ten (10) Trading Day period ending one (1) Trading Day prior to the PIK Interest Payment Due Date. For purposes of
this Note, "VWAP" shall mean the daily dollar volume-weighted average sale price for Common Stock on the Pink Open Market
or other market operated by OTC Markets Group, Inc. on any particular Trading Day (during the period beginning at such time as such
market publicly announces is the official open of trading, and ending at such time as such market publicly announces is the official close
of trading), as reported by Bloomberg Financial Markets (or if the Company is unable to gain access to Bloomberg Financial Markets information
or if such market is not reported by Bloomberg Financial Markets, as reasonably determined by the Company, using share price information
and volume reported on the OTC Markets website, taking the average price of the high, low and closing prices per share for a given day
and multiplying by the daily trading volume for such day, for each day during the VWAP period and dividing the sum of all VWAP calculations
for each day by the total trading volume for the entire VWAP period). All such determinations of VWAP shall be appropriately and equitably
adjusted in accordance with the provisions set forth herein.

 

3.            Security.
Payment and performance of this Note and the other Notes, and all other obligations of the Company hereunder are secured by a security
interest granted under the Purchase Agreement from the Company in favor of the Holders (the “Security Interest”), and
the Holders shall be entitled to all of the benefits of the Security
Interest.

 

4.            Certain
Events.

 

4.1           PIK
Interest Penalty. If Shares are not listed on a national securities exchange prior to the Maturity Date, the Company shall issue
the Holder an amount of Shares equal to fifteen percent (15%) of the Holder's then outstanding Principal Amount divided by the average
of the VWAP of Common Stock during each Trading Day during the thirty (30) Trading Day period ending one (1) Trading Day prior to
the Maturity Date. 

 

4.2           Definitions.

 

(a)            “Amount
Due” means, at any date of determination, the sum of the outstanding Principal Amount plus all accrued and unpaid Interest thereon.

 

(b)           "Change
of Control” means any of the following events or series of related events: (i) the sale, lease, exchange, license or other
transfer of all or substantially all of the Company's assets (determined on a consolidated basis) to any Person or group (as such term
is used in Section 13(d)(3) of the Exchange Act); (ii) the transfer, directly or indirectly, to any Person or group (as
such term is used in Section 13(d)(3) of the Exchange Act) of beneficial ownership (as defined in Rule 13d-3 under the
Exchange Act) of more than 50% of the aggregate voting power of the fully diluted equity interests in the Company (but excluding for the
purposes of the calculation of the fully diluted equity interests in the Company, any Conversion Shares that would be issued on conversion
of the Notes); or (iii) any merger, or other similar transaction to which the Company is a party as a result of which the shareholders
of the Company immediately prior to such transaction beneficially own less than 50% of the aggregate voting power of the fully diluted
equity interests in the surviving Person (or, if the Common Stock is exchanged for or otherwise converted into common equity of another
Person in such transaction, the successor company) (but excluding for the purposes of the calculation of the fully diluted equity interests
in the Company, any Conversion Shares that would be issued on conversion of the then outstanding Principal Amount of issued Notes and
any accrued and unpaid Interest thereon). Notwithstanding the foregoing, a bona fide equity financing transaction in which the Company
is the surviving corporation and the proceeds of such transaction are not be used to repurchase or redeem capital stock of the Company
shall not be deemed to be a Change of Control.

 

    	 	2	 

     

    

 

(c)           "Change
of Control Effective Date” means the date on which a Change of Control occurs.

 

(d)           “Change
of Control Notice” means a notice from the Company to the Holder stating: (i) that a Change of Control is anticipated to
occur and that describes the material financial terms of such Change of Control; and (ii) the anticipated Change of Control Effective
Date with respect to such Change of Control.

 

(e)            "IPO
Conversion Price” means, with respect to a Qualified IPO: (i) the public offering price per share of the Common Stock in
the Qualified IPO multiplied by (ii) one (1) minus twenty percent (20%).

 

(f)            "Qualified
IPO” means a bona fide underwritten public offering of Common Stock: (i) in which such stock is listed on the Nasdaq Stock
Market or New York Stock Exchange; and (ii) for gross proceeds at least equal to the initial principal amount of the Notes.

 

4.3           Maturity
Date Conversion Option. On the Maturity Date, the Holder by notice to the Company in accordance with Section 4.6(a) shall
have the option to convert all or part of the Amount Due, and if less than all, then not less than one half of the Amount Due (the "Conversion
Amount"), into an amount of Shares equal to the Conversion Amount divided by the average of the VWAP of Common Stock during each
Trading Day during the thirty (30) Trading Day period ending one (1) Trading Day prior to the Maturity Date.

 

4.4           Change
of Control Conversion Option. Upon a Change of Control, the Holder shall have the option to convert the Conversion Amount into Shares.
The Company shall deliver to the Holder a Change of Control Notice no less than thirty (30) days prior to any anticipated Change of Control
Effective Date. The Holder will be required to make any applicable election (a “Change of Control Election”) with respect
to the Note in writing by notice to the Company no later than the tenth (10th) day after delivery of the applicable Change of Control
Notice (the “Change of Control Election Deadline”). Following delivery of such Change of Control Notice, the Company
shall provide the Holder with such information regarding the terms of such Change of Control as they may reasonably request, subject to
any restrictions on the Company pursuant to any applicable confidentiality agreement. Any such election to convert the Note in connection
with a Change of Control shall be irrevocable once delivered to the Company. If the Holder timely delivers a Change of Control Election,
the Conversion Amount shall automatically convert immediately prior to the Change of Control Effective Date into an amount of Shares equal
to the Conversion Amount divided by the average of the VWAP of Common Stock during each Trading Day during the ten (10) Trading Day
period ending one (1) Trading Day prior to the Change of Control Effective Date.

 

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4.5           Mandatory
Conversion. In the event of a Qualified IPO, but subject to the closing of such Qualified IPO, the Amount Due shall convert in full
on the closing date of such Qualified IPO into a number of Shares equal to (a) the Amount Due on such closing date divided by (b) the
applicable IPO Conversion Price.

 

4.6           Mechanics
of Conversion.

 

(a)            Maturity
Date Notice. To exercise their Maturity Date conversion right set forth in Section 4.3 above: (i) the Holder shall transmit
by electronic mail (or otherwise deliver), for receipt on or prior to 5:00 p.m. PST, on or prior to thirty (30) days prior to the
Maturity Date (the "Notice Date"), a copy of an executed notice of conversion setting forth the amount of the Amount
Due that the Holder desires to convert (the “Conversion Notice”) to the Company; and (ii) the Holder shall surrender
this Note to a reputable common carrier for delivery to the Company (or shall provide an indemnification undertaking with respect to this
Note in the case of its loss, theft or destruction) on or prior to the Notice Date.

 

(b)            No
Fractional Shares. No fractional shares of the Company’s capital stock will be issued upon conversion of this Note. In lieu
of any fractional share to which a Holder would otherwise be entitled, the Company will pay to such Holder in cash the amount of the
unconverted principal and interest balance of this Note that would otherwise be converted into such fractional share.

 

(c)            Release
of Company. Upon full or partial conversion of this Note, the Company will be forever released from all of its obligations and liabilities
under this Note with regard to the Amount Due being converted including, without limitation, the obligation to pay such portion of the
Amount Due.

 

(d)           Delivery
of Shares. As promptly as practicable after the conversion of this Note and the issuance of the Conversion Shares, the Company (at
its expense) will instruct its transfer agent to deliver the Conversion Shares to the Holder. The Company will not be required to instruct
the transfer agent to deliver the Conversion Shares until the Holder has surrendered this Note to the Company (or provided an instrument
of cancellation or affidavit of loss).

 

4.7           Impairment.
The Company will not, by amendment of its articles of incorporation or through any reorganization, transfer of assets, consolidation,
conversion, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist
in the carrying out of all the provisions of this Section 4 and this Note in the taking of all such action as may be
necessary or appropriate in order to protect the conversion right against impairment.

 

5.            Voting
Rights. The Holder shall have no shareholder voting rights as the holder of this Note.

 

6.            Default.
If there shall be any Event of Default hereunder, at the option and upon the declaration of the Holder and upon written notice to the
Company, this Note shall accelerate and all principal and Interest accrued hereon shall become due and payable. The occurrence of any
one or more of the following shall constitute an Event of Default:

 

6.1           The
Company fails to pay timely any of the principal or accrued Interest due under this Note on the date the same becomes due and payable,
subject to a five (5) business day cure period for the payment of any Interest;

 

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6.2           The
Company shall default in its performance of any covenant or agreement under the Purchase Agreement or this Note and such default continues
for a period of twenty (20) days after written notice or the Company becoming aware thereof;

 

6.3           The
Company's Board of Directors or shareholders adopt a resolution for the liquidation, dissolution or winding up of the Company;

 

6.4           The
Company files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for
the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any
corporate action in furtherance of any of the foregoing; or

 

6.5           A
decree or an order for relief is entered by a court having jurisdiction against or with respect to the Company in an involuntary case
under the federal bankruptcy laws or any state insolvency or similar laws ordering: (a) the liquidation of the Company; (b) a
reorganization of the Company or the Company’s business and affairs; or (c) the appointment of a receiver, liquidator, assignee,
custodian, trustee, or similar official for the Company or any of the Company’s property; and, in
any such event, the failure to have such decree, order or appointment discharged or dismissed within sixty (60) days from the date of
entry.

 

7.            Miscellaneous.

 

7.1           Transfers;
Successors and Assigns. Except as provided in Section 6(i)(i) of the Purchase Agreement, this Note may not be offered, encumbered,
sold, assigned or transferred by the Holder without the prior written consent of the Company. Any offer, sale, assignment or other transfer
of this Note is also subject to the restrictive legends on this Note. The terms and conditions of this Note will inure to the benefit
of, and be binding upon, the respective successors and permitted assigns of the parties; provided,
however, that the Company may not assign its obligations under this Note without the written consent of the Holders of more than 50% of
the aggregate Principal Amount then outstanding..

 

7.2           Governing
Law. This Note will be governed by and construed in accordance with the internal laws of the State of Nevada without giving effect
to any choice or conflict of law provision or rule.

 

7.3           Counterparts.
This Note may be executed in counterparts, each of which will be deemed an original, but all of which
together will be deemed to be one and the same agreement. Counterparts may be delivered via facsimile, electronic mail (including PDF
or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com)
or other transmission method, and any counterpart so delivered will be deemed to have been duly and validly delivered and be valid and
effective for all purposes.

 

7.4           Titles
and Subtitles. The titles and subtitles used in this Note are included for convenience only and are not to be considered in construing
or interpreting this Note.

 

7.5           Notices.
All notices and other communications given or made pursuant hereto must be in accordance with Section 6(e) of the Purchase Agreement.

 

7.6           Entire
Agreement; Amendments and Waivers. This Note, together with the Purchase Agreement, constitute the full and entire understanding and
agreement between the parties with regard to the subject hereof. Any term of this Note may be amended and the observance of any term may
be waived (either generally or in a particular instance and either retroactively or prospectively) with the written consent of the Company
and the Holders of more than 50% of the aggregate Principal Amount then outstanding. Any waiver or amendment effected in accordance with
this Section 7.6 will be binding upon the Company, the Holders, and each future holder of the Note.

 

    	 	5	 

     

    

 

7.7           Severability.
If one or more provisions of this Note are held to be unenforceable under applicable law, such provisions will be excluded from this Note
and the balance of this Note will be interpreted as if such provisions were so excluded and this Note will be enforceable in accordance
with its terms.

 

7.8           Repayment
Parity Among Holders. In the event that the Company is obligated to repay the Note and does not have sufficient funds to repay the
Note in full, payment shall be made to the Holders of the Notes on a pro rata basis. The preceding
sentence shall not, however, relieve the Company of its obligations to the Holders hereunder.

 

7.12         Further
Assurances. From time to time, the parties will execute and deliver such additional documents and will provide such additional information
as may reasonably be required to carry out the terms of this Note and any agreements executed in connection herewith.

 

7.13         Officers
and Directors not Liable. In no event will any officer or director of the Company be liable for any amounts due and payable pursuant
to this Note.

 

7.14         Loss
of Note. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Note or
any Note exchanged for it, and indemnity satisfactory to the Company (in case of loss, theft or destruction) or surrender and cancellation
of such Note (in the case of mutilation), the Company will make and deliver in lieu of such Note a new Note of like tenor.

 

7.15         Certain
Waivers. The Company hereby expressly and irrevocably waives presentment, demand, protest, notice of protest and all other notices
in connection with this Note.

 

7.16         Waiver
of Jury Trial. EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS
NOTE, THE CONVERSION SHARES, THE PURCHASE AGREEMENT OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE
ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING,
WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY
CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO, AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS.
EACH PARTY HERETO HEREBY FURTHER REPRESENTS AND WARRANTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT SUCH
PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

 

[SIGNATURE PAGES FOLLOW]

 

    	 	6	 

     

    

 

In witness whereof, the undersigned
has executed this Senior Secured Promissory Note as of the date first written above.

 

	LOOP MEDIA, INC.	Address
for Notice:
	 	 
	 	700 N. Central Avenue, Suite 430
	 	Glendale, CA 91203
	 	Email: jon@loop.tv

 

 

	By:	/s/Jon Niermann	 	 
	 	Name: Jon Niermann	 	 
	 	Title: CEO and Co-Founder	 	 

 

	With a copy to:	 
	 	 
	
    Patrick J. Sheil

    34 S Erie Avenue, Suite 4

    Montauk, New York 11954

    Email: patrick@loop.tvEX-4.3

 Exhibit 4.3 

Execution Version 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT, dated as of February 26, 2021 (this “Agreement”), is by and among
Diamondback Energy, Inc. (the “Company”) and the holders of Common Stock listed on the signature page hereof (the “Initial Holders”). 

RECITALS 
 WHEREAS,
as of December 18, 2020, the Company entered into a Purchase and Sale Agreement by and among Guidon Operating LLC, Diamondback E&P LLC, the Company and, solely for certain limited purposes, Guidon Energy Holdings LP and Guidon Energy
Management Services LLC (the “Purchase Agreement”); 
 WHEREAS, under the Purchase Agreement, the Holders will
receive shares of common stock, par value $0.01 per share, of the Company (the “Common Stock”); and 
 WHEREAS,
resales by the Holders of the Common Stock may be required to be registered under the Securities Act and applicable state securities laws, depending upon the status of a Holder or the intended method of distribution of the Common Stock. 

NOW, THEREFORE, in consideration of the premises, mutual covenants and agreements hereinafter contained and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE
I—DEFINITIONS 
 1.1 Definitions. 

(a) For purposes of this Agreement, the following terms shall have the meanings specified in this Section 1.1;
provided, however, that capitalized terms used but not defined herein shall have the meaning ascribed to such terms in the Purchase Agreement. 

“Affiliate” means, with respect to any Person, any Person who, directly or indirectly through one or more intermediaries,
controls, is controlled by or is under common control with any Person. 
 “Automatic Shelf Registration Statement” means an
“Automatic Shelf Registration Statement,” as defined in Rule 405 under the Securities Act. 
 “Beneficial
Ownership” and terms of similar import shall be as defined under and determined pursuant to Rule 13d-3 promulgated under the Exchange Act. 

“Business Day” means any day on which Nasdaq is open for trading. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any similar federal statute, and the rules and
regulations promulgated by the SEC thereunder. 
 “Holder” means (i) any Initial Holder and (ii) any direct or
indirect transferee of any such securityholder, including any securityholder that receives shares of Common Stock upon a distribution or liquidation of a Holder, who has been assigned the rights of the transferor Holder under this Agreement in
accordance with Section 2.7. 
 “Nasdaq” means the Nasdaq Global Select Market. 

 

 “Permitted Transferees” means, with respect to any Person, (i) any
Affiliate of such Person, or (ii) any of such Person’s related investment funds or vehicles controlled or managed by such Person or an Affiliate of such Person. 

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

“Prospectus” means the prospectus (including any preliminary, final or summary prospectus) included in any Registration
Statement, all amendments and supplements to such prospectus and all other material incorporated by reference in such prospectus. 

“Overnight Underwritten Offering” means an underwritten offering that is launched after the close of trading on one trading
day and priced before the open of trading on the next succeeding trading day. 
 “register,” “registered”
and “registration” refer to a registration effected by preparing and filing a Registration Statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such Registration Statement. 

“Registrable Securities” means, at any time, the Common Stock issued to the Holders pursuant to the Purchase Agreement,
including any shares of Common Stock which may be issued or distributed in respect of such shares of Common Stock by way of conversion, concession, stock dividend or stock split or other distribution, recapitalization or reclassification or similar
transaction; provided, however, that Registrable Securities shall cease to be Registrable Securities when (i) they have been distributed to the public pursuant to an offering registered under the Securities Act, (ii) they
have been distributed, or may legally be distributed in one transaction, to the public pursuant to Rule 144 (or any successor provision) under the Securities Act or (iii) they have been transferred or sold to any Person to whom the rights under
this Agreement are not assigned in accordance with this Agreement. 
 “Registration Expenses” means all expenses (other
than Selling Expenses) arising from or incident to the Company’s performance of or compliance with this Agreement, including, without limitation: (i) SEC, stock exchange, Financial Industry Regulatory Authority, Inc. and other registration
and filing fees; (ii) all fees and expenses incurred in connection with complying with any securities or blue sky laws (including, without limitation, fees, charges and disbursements of counsel in connection with blue sky qualifications of the
Registrable Securities); (iii) all printing, messenger and delivery expenses; (iv) the fees, charges and disbursements of counsel to the Company and of its independent public accountants, reserve engineers, and any other accounting and
legal fees, charges and expenses incurred by the Company (including, without limitation, any expenses arising from any special audits or “comfort” letters required in connection with or incident to any registration); (v) the fees and
expenses incurred in connection with the listing of the Registrable Securities on Nasdaq (or the New York Stock Exchange or any other national securities exchange on which the Common Stock may then be listed) or the quotation of Registrable
Securities on any inter-dealer quotation system; (vi) the fees and expenses incurred by the Company in connection with the road show, if any, for a Marketed Underwritten Shelf Takedown; and (vii) reasonable fees and expenses of counsel to
the Holders in connection with the filing or amendment of any Registration Statement or Prospectus hereunder; provided that, with respect to any offering, Registration Expenses shall only include such fees and expenses (not exceed $50,000 in
the aggregate) of one counsel to the Holders and one local counsel per jurisdiction with respect to any offering (which, in each case, shall be chosen by the Holders of a majority of Registrable Securities to be included in such offering). 

“Registration Statement” means any registration statement of the Company that covers the resale of any Registrable Securities
pursuant to the provisions of this Agreement filed with, or to be filed with, the SEC under the rules and regulations promulgated under the Securities Act, including the related Prospectus, amendments and supplements to such registration statement,
including pre- and post-effective amendments, and all exhibits, financial information and all other material incorporated by reference in such registration statement or Prospectus. 

“Required Holders” means Holders who then own beneficially more than 50% of the Registrable Securities. 

  
 2 

 “Rule 144” means Rule 144 promulgated by the SEC pursuant to the Securities
Act, as such rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC as a replacement thereto having substantially the same effect as such rule. 

“Same-Day Offering” means an underwritten offering that is launched before the open
of trading on one trading day and priced before the open of trading or after the close of trading on such same trading day. 

“SEC” means the Securities and Exchange Commission or any other Federal agency at the time administering the Securities Act.

 “Securities Act” means the Securities Act of 1933, as amended, or any similar Federal statute, and the rules and
regulations promulgated by the SEC thereunder. 
 “Selling Expenses” means the underwriting fees, discounts and
commissions, placement fees of underwriters, broker commissions and any transfer taxes, in each case, applicable to all Registrable Securities registered by the Holders and the fees and expenses of counsel engaged by any Holder (other than expenses
for counsel that are the Company’s expense under the definition of Registration Expenses). 
 “Shelf Registration
Statement” means a “shelf” registration statement of the Company that covers all the Registrable Securities (and may cover other securities of the Company) on Form S-3 and under Rule 415
under the Securities Act or, if the Company is not then eligible to file on Form S-3, on Form S-1 or any other appropriate form under the Securities Act, or any
successor rule that may be adopted by the SEC, including without limitation any such registration statement filed pursuant to Section 2.1, and all amendments and supplements to such “shelf” registration statement,
including post-effective amendments, in each case, including the Prospectus contained therein, all exhibits thereto and any document incorporated by reference therein. 

(b) For purposes of this Agreement, the following terms have the meanings set forth in the sections indicated: 

 

			
	 Term
	  	 Section

	Advice	  	2.3
	Agreement	  	Introductory Paragraph
	Blackout Period	  	2.2(s)
	Common Stock	  	Recitals
	Company	  	Introductory Paragraph
	Company Notice	  	2.1(c)
	Demand Request	  	2.1(c)
	Effective Date	  	2.1(a)
	Initial Holders	  	Introductory Paragraph
	Lock-Up Period	  	2.5
	Marketed Underwritten Shelf Takedown	  	2.1(b)
	Participating Majority	  	2.1(d)
	Purchase Agreement	  	Recitals
	Records	  	2.2(l)
	Requesting Holder	  	2.1(c)
	Seller Affiliates	  	2.6
	Suspension Period	  	2.1(f)
	Suspension Notice	  	2.3
	Underwritten Shelf Takedown	  	2.1(b)

 1.2 Other Definitional and Interpretive Matters. Unless otherwise expressly provided or the
context otherwise requires, for purposes of this Agreement the following rules of interpretation apply. 
 (a) When calculating the period of
time before which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period is excluded. If the last day of such period is a non-Business Day, the period in question ends on the next succeeding Business Day. 

  
 3 

 (b) Any reference in this Agreement to $ means U.S. dollars. 

(c) Any reference in this Agreement to gender includes all genders, and words imparting the singular number also include the plural and vice
versa. 
 (d) The provision of a Table of Contents, the division of this Agreement into Articles, Sections and other subdivisions and the
insertion of headings are for convenience of reference only and do not affect, and should not be utilized in, the construction or interpretation of this Agreement. 

(e) All references in this Agreement to any “Article” or “Section” are to the corresponding Article or Section of this
Agreement. 
 (f) The words “herein,” “hereinafter,” “hereof,” and
“hereunder” refer to this Agreement as a whole and not merely to a subdivision in which such words appear unless the context otherwise requires. 

(g) The word “including” or any variation thereof means “including, but not limited to,” and does not
limit any general statement that it follows to the specific or similar items or matters immediately following it. 
 ARTICLE II -
REGISTRATION RIGHTS 
 2.1 Shelf Registration. 

(a) The Company will prepare, file (to the extent not previously filed) and use its reasonable best efforts to cause to become effective no
later than the 60th day following the date of this Agreement (the “Effective Date”), a Shelf Registration Statement (which Shelf Registration Statement shall be an Automatic Shelf Registration Statement if the Company is then
eligible to file an Automatic Shelf Registration Statement), registering for resale the Registrable Securities under the Securities Act subject to compliance by the Holders of the Registrable Securities with their obligations hereunder, including
specifically those obligations set forth in Section 2.1(h). The plan of distribution indicated in the Shelf Registration Statement will include all such methods of sale as any Holder may reasonably request in writing at
least five Business Days prior to the filing of the Shelf Registration Statement and that can be included in the Shelf Registration Statement under the rules and regulations of the SEC. Until such time as all Registrable Securities cease to be
Registrable Securities or the Company is no longer eligible to maintain a Shelf Registration Statement, the Company shall use its reasonable best efforts to keep current and effective such Shelf Registration Statement and file such supplements or
amendments to such Shelf Registration Statement (or file a new Shelf Registration Statement (which Shelf Registration Statement shall be an Automatic Shelf Registration Statement if the Company is then eligible to file an Automatic Shelf
Registration Statement) when such preceding Shelf Registration Statement expires pursuant to the rules of the SEC) as may be necessary or appropriate to keep such Shelf Registration Statement continuously effective and useable for the resale of all
Registrable Securities under the Securities Act. Any Shelf Registration Statement when declared effective (including the documents incorporated therein by reference) will comply in all material respects as to form with all applicable requirements of
the Securities Act and the Exchange Act and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. 

(b) Any one or more Holders of Registrable Securities may request to sell all or any portion of their Registrable Securities in an underwritten
offering that is registered pursuant to the Shelf Registration Statement (each, an “Underwritten Shelf Takedown”); provided, however, that the Holders, in the aggregate, will be entitled to make a demand for a total of
only two Underwritten Shelf Takedowns and only if the proceeds from the sale of Registrable Securities in any such Underwritten Shelf Takedown (before the deduction of underwriting discounts) is reasonably expected to exceed, in the aggregate,
$100 million. At the request of such Holders, the plan of distribution for the Underwritten Shelf Takedowns shall include a customary “road show” (including an “electronic road show”) or other substantial marketing effort by
the Company and the underwriters over a period not to exceed 24 hours (a 

  
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“Marketed Underwritten Shelf Takedown”). Subject to the other limitations contained in this Agreement, the Company shall not be obligated hereunder to effect an Underwritten
Shelf Takedown within 60 days after the closing of an Underwritten Shelf Takedown. If an Underwritten Shelf Takedown is not a Marketed Underwritten Shelf Takedown, the Company and its management will not be required to participate in a roadshow or
other marketing effort. For the avoidance of doubt, an Underwritten Shelf Takedown shall not include an “at the market” program. 

(c) The request (a “Demand Request”) for an Underwritten Shelf Takedown shall be made by the Holder or Holders making such
request (the “Requesting Holder”) by giving written notice to the Company. The Demand Request shall specify the approximate number of Registrable Securities to be sold in such Underwritten Shelf Takedown and the expected price range
of securities to be sold in such Underwritten Shelf Takedown. Within five Business Days after receipt of any Demand Request, the Company shall send written notice of such requested Underwritten Shelf Takedown to all other Holders of Registrable
Securities (the “Company Notice”) and shall include in such Underwritten Shelf Takedown all Registrable Securities with respect to which the Company has received written requests for inclusion therein within five Business Days
after sending the Company Notice. 
 (d) The Company shall select one or more nationally prominent firms of investment bankers reasonably
acceptable to the Participating Majority to act as the managing underwriter or underwriters in connection with such Underwritten Shelf Takedown. The “Participating Majority” shall mean, with respect to an Underwritten Shelf
Takedown, the Holder(s) of a majority of the Registrable Securities requested to be included in such Underwritten Shelf Takedown. All Holders proposing to distribute their securities through such underwriting shall enter into an underwriting
agreement with such underwriter or underwriters in accordance with Section 2.1(g). The Company will use its reasonable best efforts to cause members of senior management to cooperate with the underwriter(s) in connection
with an Underwritten Shelf Takedown and make themselves available to participate in the marketing process in connection with such Underwritten Shelf Takedown as requested by the managing underwriter(s) and providing such additional information
reasonably requested by the managing underwriter(s) (in addition to the minimum information required by law, rule or regulation) in any prospectus relating to an Underwritten Shelf Takedown. 

(e) If the managing underwriter(s) for an Underwritten Shelf Takedown advise the Company and the participating Holders in writing that, in
their opinion, marketing factors require a limitation of the amount of securities to be underwritten (including Registrable Securities) because the amount of securities to be underwritten is likely to have an adverse effect on the marketability of
the offering, then the Company shall so advise all Holders of Registrable Securities which would otherwise be underwritten pursuant hereto, and the amount of Registrable Securities that may be included in the underwriting shall be allocated among
the participating Holders, (i) first among the participating Holders as nearly as possible on a pro rata basis based on the total amount of Registrable Securities held by such Holders requested to be included in such underwriting and
(ii) second to the extent all Registrable Securities requested to be included in such underwriting by the participating Holders have been included, to any other Persons pursuant to contractual registration rights as nearly as possible on
a pro rata basis based on the total amount of Registrable Securities (as defined in the contractual registration rights) held by such other Persons requested to be included in such underwriting. The Company shall prepare preliminary and final
prospectus supplements for use in connection with the Underwritten Shelf Takedown, containing such additional information as may be reasonably requested by the underwriter(s). 

(f) Upon written notice to the Holders of Registrable Securities, the Company shall be entitled to suspend, for a period of time not to exceed
the periods specified in Section 2.2(s) (each, a “Suspension Period”), the use of any Registration Statement or Prospectus and shall not be required to amend or supplement the Registration Statement, any
related Prospectus or any document incorporated therein by reference if: (i) the Company receives any request by the SEC or any other federal or state governmental authority for amendments or supplements to such Registration Statement or
Prospectus or for additional information that pertains to such Holders as sellers of Registrable Securities; (ii) the SEC issues any stop order suspending the effectiveness of the Registration Statement covering any or all of the Registrable
Securities or the initiation of any proceedings for that purpose; (iii) the Company receives any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in
any jurisdiction, or the initiation or threatening of any proceeding for such purpose; or (iv) the board of directors, chief executive officer or chief financial officer of the Company determines in its or his or her reasonable good faith
judgment that the Registration Statement or any Prospectus may contain an untrue statement of a material fact or may omit any fact necessary to make the statements in the Registration Statement 

  
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or Prospectus not misleading; provided, that the Company shall use its good faith efforts to amend the Registration Statement or Prospectus to correct such untrue statement or omission as
promptly as reasonably practicable, unless the Company determines in good faith that such amendment would reasonably be expected to have a materially detrimental effect on the Company. The Holders acknowledge and agree that written notice of any
Suspension Period may constitute material non-public information regarding the Company and shall keep the existence and contents of any such written notice confidential. 

(g) If requested by the managing underwriter(s) for an Underwritten Shelf Takedown, the Company shall enter into an underwriting agreement with
the underwriters for such offering, such agreement to be in form and substance (including with respect to representations and warranties by the Company) as is customarily given by the Company to underwriters in an underwritten public offering, and
to contain indemnities generally to the effect and to the extent provided in Section 2.6. The Holders of Registrable Securities participating in such Underwritten Shelf Takedown shall be parties to such underwriting
agreement and shall be required to make customary representations and warranties, in each case subject to the requirements of the managing underwriter(s), in connection with any such registration or transfer, including that, at such time,
(A) such Holder owns his, her or its Registrable Securities to be sold or transferred free and clear of all liens, claims and encumbrances, (B) such Holder has power and authority to effect such transfer or sale, (C) such transfer or
sale by such Holder contemplated by such underwriting agreement, and such Holder’s entry into such underwriting agreement, will not constitute a breach of any agreements to which such Holder is a party or by which such Holder is bound,
(D) such transfer or sale contemplated by such underwriting agreement, and such Holder’s entry into such underwriting agreement, shall not constitute a breach or violation of such Holder’s organizational documents, if the Holder is an
entity, or any law applicable to such Holder and (E) such matters pertaining to compliance with securities laws as may be reasonably requested. No Holder may participate in an Underwritten Shelf Takedown unless such Holder agrees to sell its
Registrable Securities on the basis provided in such underwriting agreement and completes and executes all questionnaires, beneficial ownership information, powers of attorney, customary indemnities and other documents reasonably required by the
managing underwriter(s) under the terms of such underwriting agreement. Each participating Holder may, at its option, require that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement also
be conditions precedent to its obligations. 
 (h) Each of the Holders hereby agrees (a) to cooperate with the Company and to furnish to
the Company all such information regarding such Holder, its ownership of Registrable Securities and the disposition of such securities in connection with the preparation of the Registration Statement and any filings with any state securities
commission as the Company may reasonably request, (b) to the extent required by the Securities Act, to deliver or cause delivery of the Prospectus contained in the Registration Statement, any amendment or supplement thereto, to any purchaser of
Registrable Securities covered by the Registration Statement from the Holder and (c) if requested by the Company, to notify the Company of any sale of Registrable Securities by such Holder. 

2.2 Registration Procedures. In connection with the registration and sale of Registrable Securities pursuant to this Agreement,
the Company will use its reasonable best efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended method of disposition thereof, and pursuant thereto the Company will: 

(a) if the Registration Statement is not automatically effective upon filing, use reasonable best efforts to cause such Registration Statement
to become effective as promptly as reasonably practicable; 
 (b) promptly notify each selling Holder, promptly after the Company receives
notice thereof, of the time when such Registration Statement has been declared effective or a supplement to any prospectus forming a part of such Registration Statement has been filed; 

(c) after the Registration Statement becomes effective, promptly notify each selling Holder of any request by the SEC that the Company amend or
supplement such Registration Statement or Prospectus; 
 (d) prepare and file with the SEC such amendments and supplements to the
Registration Statement and the Prospectus used in connection therewith as may be reasonably necessary to keep the Registration Statement effective during the period set forth in, and subject to the terms and conditions of, this Agreement, and to
comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by the Registration Statement for the period required to effect the distribution of the Registrable Securities as set forth in
Article II hereof; 

  
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 (e) furnish to the selling Holders such numbers of copies of such Registration Statement,
each amendment and supplement thereto, each Prospectus (including each preliminary Prospectus and Prospectus supplement) and such other documents as the Holder and any underwriter(s) may reasonably request in order to facilitate the disposition of
the Registrable Securities; 
 (f) use its reasonable best efforts to register and qualify the Registrable Securities under such other
securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the Holders and any underwriter(s) and do any and all other acts and things that may be reasonably necessary or advisable
to enable the Holders and any underwriter(s) to consummate the disposition of the Registrable Securities in such jurisdictions; provided, however, that the Company shall not be required in connection therewith or as a condition thereto
to qualify to do business in or to file a general consent to service of process in any jurisdiction, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act, or subject itself to
taxation in any such jurisdiction, unless the Company is already subject to taxation in such jurisdiction; 
 (g) use its reasonable best
efforts to cause all such Registrable Securities to be listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar equity securities issued by the Company are then listed; 

(h) provide a transfer agent and registrar for the Registrable Securities and provide a CUSIP number for all such Registrable Securities, in
each case not later than the effective date of the Registration Statement; 
 (i) use its reasonable best efforts to furnish, on the date
that shares of Registrable Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters, (i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of such
registration, in form and substance as is customarily given to underwriters by the Company in an underwritten public offering, addressed to the underwriters, (ii) a letter dated as of such date, from the independent public accountants of the
Company, in form and substance as is customarily given by independent public accountants to underwriters in an underwritten public offering, addressed to the underwriters and (iii) an engineers’ reserve report letter as of such date, from
the independent petroleum engineers of the Company, in form and substance as is customarily given by independent petroleum engineers to underwriters in an underwritten public offering, addressed to the underwriters; 

(j) if requested by the Holders, cooperate with the Holders and the managing underwriter(s) (if any) to facilitate the timely preparation and
delivery of certificates (which shall not bear any restrictive legends unless required under applicable law) representing securities sold under the Registration Statement, and enable such securities to be in such denominations and registered in such
names as such Holders or the managing underwriter (if any) may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such Registration Statement a supply of such certificates; 

(k) in the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in form and
substance as is customarily given by the Company to underwriters in an underwritten public offering, with the underwriter(s) of such offering; 

(l) upon execution of confidentiality agreements in form and substance reasonably satisfactory to the Company, promptly make available for
inspection by the selling Holders, any underwriter(s) participating in any disposition pursuant to such Registration Statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling Holders, all
financial and other records, pertinent corporate documents, and properties of the Company reasonably requested (collectively, “Records”), and use reasonable best efforts to cause the Company’s officers, directors, employees,
and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant, or agent, in each case, as necessary or advisable to verify the accuracy of the information in such Registration
Statement and to conduct appropriate due diligence in connection therewith; provided, that Records that the Company determines, in good faith, to be confidential and that it notifies the selling Holders are confidential shall not be disclosed
by the selling Holders unless the release of such 

  
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Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction or is otherwise required by applicable law. Each Holder agrees that information obtained by
it as a result of such inspections shall be deemed confidential and shall not be used by it or its affiliates (other than with respect to such Holders’ due diligence) unless and until such information is made generally available to the public,
and further agrees that, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, to the extent permitted and to the extent practicable it shall give notice to the Company and allow the Company to undertake
appropriate action to prevent disclosure of the Records deemed confidential; 
 (m) promptly notify the selling Holders and any
underwriter(s) of the notification to the Company by the SEC of its initiation of any proceeding with respect to the issuance by the SEC of any stop order suspending the effectiveness of the Registration Statement, and in the event of the issuance
of any stop order suspending the effectiveness of such Registration Statement, or of any order suspending or preventing the use of any related Prospectus or suspending the qualification of any Registrable Securities included in such Registration
Statement for sale in any jurisdiction, use its reasonable best efforts to obtain promptly the withdrawal of such order; 
 (n) promptly
notify the selling Holders and any underwriter(s) at any time when a Prospectus relating thereto is required to be delivered under the Securities Act of the occurrence of any event as a result of which the Prospectus included in the Registration
Statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances under which they
were made, and at the request of any Holder promptly prepare and furnish to such Holder a reasonable number of copies of a supplement to or an amendment of such Prospectus, or a revised Prospectus, as may be necessary so that, as thereafter
delivered to the purchasers of such securities, such Prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in
light of the circumstances under which they were made (following receipt of any supplement or amendment to any Prospectus, the selling Holders shall deliver such amended, supplemental or revised Prospectus in connection with any offers or sales of
Registrable Securities, and shall not deliver or use any Prospectus not so supplemented, amended or revised); 
 (o) promptly notify the
selling Holders and any underwriter(s) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction;

 (p) make available to each Holder (i) promptly after the same is prepared and publicly distributed, filed with the SEC, or received
by the Company, one copy of each Registration Statement and any amendment thereto, each preliminary Prospectus and Prospectus and each amendment or supplement thereto, each letter written by or on behalf of the Company to the SEC or the staff of the
SEC (or other governmental agency or self-regulatory body or other body having jurisdiction, including any domestic or foreign securities exchange), and each item of correspondence from the SEC or the staff of the SEC (or other governmental agency
or self-regulatory body or other body having jurisdiction, including any domestic or foreign securities exchange), in each case relating to such Registration Statement, and (ii) such number of copies of
each Prospectus, including a preliminary Prospectus, and all amendments and supplements thereto and such other documents as any Holder or any underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities.
The Company will promptly notify the Holders of the effectiveness of each Registration Statement or any post-effective amendment or the filing of any supplement or amendment to such Registration Statement or of any Prospectus supplement. The Company
will promptly respond to any and all comments received from the SEC, with a view towards causing each Registration Statement or any amendment thereto to be declared effective by the SEC as soon as practicable and shall file an acceleration request,
if necessary, as soon as practicable following the resolution or clearance of all SEC comments or, if applicable, following notification by the SEC that any such Registration Statement or any amendment thereto will not be subject to review; 

(q) take no direct or indirect action prohibited by Regulation M under the Exchange Act; provided, that, to the extent that any
prohibition is applicable to the Company, the Company will take all reasonable action to make any such prohibition inapplicable; 
 (r) take
such other actions as are reasonably necessary in order to facilitate the disposition of such Registrable Securities; and 

  
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 (s) notwithstanding any other provision of this Agreement, the Company shall not be required
to file a Registration Statement (or any amendment thereto) or effect a requested Underwritten Shelf Takedown (or, if the Company has filed a Shelf Registration Statement and has included Registrable Securities therein, the Company shall be entitled
to suspend the offer and sale of Registrable Securities pursuant to such Registration Statement) for a period of up to 60 days if (i) the board of directors determines that a postponement is in the best interest of the Company and its
stockholders generally due to a proposed transaction involving the Company and determines in good faith that the Company’s ability to pursue or consummate such a transaction would be materially and adversely affected by any required disclosure
of such transaction in the Shelf Registration Statement, (ii) the board of directors determines such registration would render the Company unable to comply with applicable securities laws or (iii) the board of directors determines such
registration would require disclosure of material information that the Company has a bona fide business purpose for preserving as confidential (any such period, a “Blackout Period”); provided, however, that in no event
shall any Blackout Period and/or Suspension Period collectively exceed an aggregate of 90 days in any 12-month period. 

2.3 Suspension of Dispositions. Each Holder agrees by acquisition of any Registrable Securities that, upon receipt of any notice
(a “Suspension Notice”) from the Company of the occurrence of any event of the kind described in Section 2.2(f), Section 2.2(n) or Section 2.2(s), such
Holder will forthwith discontinue disposition of Registrable Securities pursuant to the Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus, or until it is advised in writing (the
“Advice”) by the Company that the use of the Prospectus may be resumed, and has received copies of any additional or supplemental filings which are incorporated by reference in the Prospectus. The Company shall extend the period of
time during which the Company is required to maintain the Registration Statement effective pursuant to this Agreement by the number of days during the period from and including the date of the giving of such Suspension Notice to and including the
date such Holder either receives the supplemented or amended Prospectus or receives the Advice. If so directed by the Company, such Holder will deliver to the Company all copies, other than permanent file copies then in such Holder’s
possession, of the Prospectus covering such Registrable Securities current at the time of receipt of such notice. The Company shall use its reasonable best efforts and take such actions as are reasonably necessary to render the Advice as promptly as
practicable. The Holders acknowledge and agree that receipt of a Suspension Notice may constitute material non-public information regarding the Company and shall keep the existence and contents of any such
Suspension Notice confidential. Any Underwritten Shelf Takedown which is suspended because of a Suspension Notice shall not be deemed to be a Demand Request for purposes of Section 2.1(b) unless and until a suspension
pursuant to this Section 2.3 is concluded and such Underwritten Shelf Offering is completed. 
 2.4
Registration Expenses. All Registration Expenses shall be borne by the Company. In addition, for the avoidance of doubt, the Company shall pay its internal expenses in connection with the performance of or compliance with this
Agreement (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit or quarterly review, the expense of any liability insurance and the expenses
and fees for listing the securities to be registered on each securities exchange on which they are to be listed. All Selling Expenses relating to Registrable Securities registered shall be borne by the Holders of such Registrable Securities pro rata
on the basis of the number of Registrable Securities sold. 
 2.5 Lock-Up
Period. Each Initial Holder agrees that, during the period beginning on the date of this Agreement and ending on the 60th day thereafter (the “Lock-Up Period”), such Initial Holder
will not offer, sell, contract to sell, pledge, grant any option to purchase, lend or otherwise dispose of the shares of Common Stock issued to such Initial Holder pursuant to the Purchase Agreement; provided, however, that the
transfer of Common Stock by an Initial Holder is permitted to Permitted Transferees who shall (A) be subject to the restrictions in this Section 2.5 as if they were the original holders of such Common Stock and
(B) promptly transfer such Common Stock back to the applicable Initial Holder if they cease to be a Permitted Transferee for any reason prior to the expiration of the Lock-Up Period. 

  
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 2.6 Indemnification. 

(a) The Company agrees to indemnify and reimburse, to the fullest extent permitted by law, each Holder that is a seller of Registrable
Securities, and each of its employees, advisors, agents, representatives, partners, officers, and directors and each Person who controls such Holder (within the meaning of the Securities Act or the Exchange Act) (collectively, the “Seller
Affiliates”) (i) against any and all losses, claims, damages, liabilities and expenses, joint or several (including, without limitation, attorneys’ fees and disbursements except as limited by
Section 2.6(c)) based upon, arising out of, related to or resulting from any untrue or alleged untrue statement of a material fact contained in any Registration Statement or Prospectus or any amendment thereof or supplement
thereto, or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) against any and all losses, liabilities, claims, damages and expenses whatsoever, as
incurred, to the extent of the aggregate amount paid in settlement of any litigation or investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon, arising out of, related to or
resulting from any such untrue statement or omission or alleged untrue statement or omission, and (iii) against any and all costs and expenses (including reasonable fees, charges and disbursements of counsel) as may be reasonably incurred in
investigating, preparing or defending against any litigation, investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon, arising out of, related to or resulting from any such untrue
statement or omission or alleged untrue statement or omission, or such violation of the Securities Act or Exchange Act, to the extent that any such expense or cost is not paid under subparagraph (i) or (ii) above; except insofar as any
such statements are made in reliance upon information furnished to the Company in writing by such seller or any Seller Affiliate expressly for use therein. The reimbursements required by this Section 2.6(a) will be made by
periodic payments during the course of the investigation or defense, as and when bills are received or expenses incurred. 
 (b) In
connection with any Registration Statement or Prospectus covering the sale of Registrable Securities in which a Holder that is a seller of Registrable Securities is participating, each such Holder will (i) cooperate with and furnish to the
Company such information and affidavits as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus or any filings with any state securities commissions, (ii) to the extent required by the
Securities Act, deliver or cause delivery of the Prospectus to any purchaser of the Registrable Securities covered by such Prospectus from such Holder and (iii) if requested by the Company, notify the Company of any sale of Registrable
Securities by such Holder, and to the fullest extent permitted by law, each such seller will indemnify the Company and its directors and officers and each Person who controls the Company (within the meaning of the Securities Act or the Exchange Act)
against any and all losses, claims, damages, liabilities and expenses (including, without limitation, reasonable attorneys’ fees and disbursements except as limited by Section 2.6(c)) resulting from any untrue
statement or alleged untrue statement of a material fact contained in the Registration Statement or Prospectus or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not
misleading, but only to the extent that such untrue statement or alleged untrue statement or omission or alleged omission is contained in any information or affidavit so furnished by such seller or any of its Seller Affiliates in writing expressly
for inclusion in the Registration Statement; provided that the obligation to indemnify will be several, not joint and several, among such sellers of Registrable Securities, and the liability of each such seller of Registrable Securities will
be in proportion to the amount of Registrable Securities registered by them, and, provided, further, that such liability will be limited to the net amount received by such seller from the sale of Registrable Securities pursuant to such
Registration Statement. 
 (c) Any Person entitled to indemnification hereunder will (i) give prompt written notice to the indemnifying
party of any claim with respect to which it seeks indemnification (provided that the failure to give such notice shall not limit the rights of such Person) and (ii) unless in such indemnified party’s reasonable judgment a conflict
of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided,
however, that any Person entitled to indemnification hereunder shall have the right to employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such Person
unless (A) the indemnifying party has agreed to pay such fees or expenses or (B) the indemnifying party shall have failed to assume the defense of such claim and employ counsel reasonably satisfactory to such Person. If such defense is not
assumed by the indemnifying party as permitted hereunder, the indemnifying party will not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent will not be unreasonably withheld,
conditioned or delayed). If such defense is assumed by the indemnifying party pursuant to the provisions hereof, such indemnifying party shall not settle or otherwise compromise the applicable claim unless (i) such settlement or
compromise contains a full and unconditional release of the indemnified party or (ii) the indemnified party otherwise consents in writing (which consent will not be unreasonably withheld, conditioned or delayed). An indemnifying party who is
not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified (which shall 

  
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be chosen by the Holders of a majority of Registrable Securities so indemnified) by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party,
a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim, in which event the indemnifying party shall be obligated to pay the reasonable fees and disbursements of such
additional counsel or counsels. 
 (d) Each party hereto agrees that, if for any reason the indemnification provisions contemplated by
Section 2.6(a) or Section 2.6(b) are unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities or expenses (or actions in respect
thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, liabilities or expenses (or actions in respect thereof) in such proportion as is
appropriate to reflect the relative fault of the indemnifying party and the indemnified party in connection with the actions which resulted in the losses, claims, damages, liabilities or expenses as well as any other relevant equitable
considerations. The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a
material fact relates to information supplied by such indemnifying party or indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties
hereto agree that it would not be just and equitable if contribution pursuant to this Section 2.6(d) were determined by pro rata allocation (even if the Holders or any underwriters or all of them were treated as one entity
for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to in this Section 2.6(d). The amount paid or payable by an indemnified party as a result of the
losses, claims, damages, liabilities or expenses (or actions in respect thereof) referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such indemnified party in connection with investigating or,
except as provided in Section 2.6(c), defending any such action or claim. Notwithstanding the provisions of this Section 2.6(d), no Holder shall be required to contribute an amount greater than the
dollar amount by which the net proceeds received by such Holder with respect to the sale of any Registrable Securities exceeds the amount of damages which such Holder has otherwise been required to pay by reason of any and all untrue or alleged
untrue statements of material fact or omissions or alleged omissions of material fact made in any Registration Statement or Prospectus or any amendment thereof or supplement thereto related to such sale of Registrable Securities. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations in this
Section 2.6(d) to contribute shall be several in proportion to the amount of Registrable Securities registered by them and not joint. 

If indemnification is available under this Section 2.6, the indemnifying parties shall indemnify each indemnified
party to the full extent provided in Section 2.6(a) and Section 2.6(b) without regard to the relative fault of said indemnifying party or indemnified party or any other equitable consideration
provided for in this Section 2.6(d) subject, in the case of the Holders, to the limited dollar amounts set forth in Section 2.6(b). 

(e) No indemnifying party shall be liable for any settlement effected without its written consent (which consent may not be unreasonably
delayed or withheld). Each indemnifying party agrees that it will not, without the indemnified party’s prior written consent, consent to entry of any judgment or settle or compromise any pending or threatened claim, action or proceeding in
respect to which indemnification or contribution may be sought hereunder unless the foregoing contains and unconditional release, in form and substance reasonably satisfactory to the indemnified parties, of the indemnified parties from all liability
and obligation arising therefrom. 
 (f) The indemnification and contribution provided for under this Agreement will remain in full force and
effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and will survive the transfer of securities. 

2.7 Transfer of Registration Rights. The registration rights of a Holder under this Agreement with respect to any Registrable
Securities may be transferred or assigned to any purchaser or transferee of Registrable Securities; provided, however, that (i) such Holder shall give the Company written notice prior to the time of such transfer stating the name
and address of the transferee and identifying the securities with respect to which the rights under this Agreement are being transferred; (ii) such transferee shall agree in writing, in form and substance reasonably satisfactory to the Company,
to be bound as a Holder by the provisions of this Agreement; and (iii) immediately following such transfer the further disposition of such securities by such transferee shall be restricted to the extent set forth under applicable law. 

  
 11 

 2.8 Free Writing Prospectuses. The Company shall not permit any
officer, director, underwriter, broker or any other person acting on behalf of the Company to use any free writing prospectus (as defined in Rule 405 under the Securities Act) in connection with any registration statement covering Registrable
Securities, without the prior written consent of each participating Holder and any underwriter. No Holder shall, or permit any officer, manager, underwriter, broker or any other person acting on behalf of such Holder to use any free-writing
prospectus in connection with any registration statement covering Registrable Securities, without the prior written consent of the Company. 

2.9 Current Public Information. With a view to making available to the Holders of Registrable Securities the benefits of Rule 144
and Rule 144A promulgated under the Securities Act and other rules and regulations of the SEC that may at any time permit a Holder of Registrable Securities to sell securities of the Company to the public without registration, the Company covenants
that it will (i) for as long as the Common Stock is registered pursuant to Section 12(b), Section 12(g) or Section 15(d) of the Exchange Act, use its reasonable best efforts to file in a timely manner all reports and other
documents required, if any, to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted thereunder and (ii) if it is not required to file such reports, make available information necessary to comply
with Rule 144 and Rule 144A, if available with respect to resales of the Registrable Securities under the Securities Act, at all times, all to the extent required from time to time to enable such Holder to sell Registrable Securities to the public
without registration under the Securities Act within the limitation of the exemptions provided by (x) Rule 144 and Rule 144A promulgated under the Securities Act (if available with respect to resales of the Registrable Securities), as such
rules may be amended from time to time or (y) any other rules or regulations now existing or hereafter adopted by the SEC. 
 2.10
Company Obligations Regarding Transfers. The Company shall instruct the transfer agent to remove any legend, notation or similar designation restricting transferability of the Registrable Securities from the certificates or
book-entries evidencing Registrable Securities if such Common Stock (i) is sold pursuant to an effective registration statement under the Securities Act, (ii) is sold or transferred pursuant to Rule 144 (if the transferor is not an
Affiliate of the Company) or (iii) is eligible for sale under Rule 144 without the requirement that the Company has complied with the public reporting requirements of the Exchange Act. Each Holder agrees to provide the Company, its counsel
and/or the transfer agent with evidence reasonably requested by it in order to cause the removal of such legend, including, as may be appropriate, any information the Company deems necessary to determine that the legend, notation or similar
designation is no longer required under the Securities Act or applicable state laws, including a certification that the holder is not an Affiliate of the Company (and a covenant to inform the Company if it should thereafter become an Affiliate and
to consent to exchange any certificates or instruments representing the Common Stock for ones bearing an appropriate restrictive legend) and regarding the length of time the Common Stock has been held. Any fees of the Company, the transfer agent and
Company counsel associated with the issuance of any legal opinion required by the Company’s transfer agent or the removal of such legend shall be borne by the Company. 

2.11 No Conflict of Rights. The Company represents and warrants that it is not subject to any registration rights that are
superior to, inconsistent with or that in any way violate or subordinate the rights granted to the Holders hereby. The Company shall not, prior to the termination of this Agreement, grant any registration rights that conflict with, or would prevent
the Company from performing, the rights granted to the Holders hereby. 
 ARTICLE III—TERMINATION 

3.1 Termination. The provisions of this Agreement shall terminate and be of no further force and effect upon the earlier of
(a) the date when there shall no longer be any Registrable Securities outstanding and (b) the first date on which the Holders hold Registrable Securities consisting of 3,000,000 shares of Common Stock or less. 

  
 12 

 ARTICLE IV—MISCELLANEOUS 

4.1 Notices. Any notice or other communication required or permitted hereunder shall be in writing and shall be delivered by
hand, by electronic mail transmission, or by certified or registered mail, postage prepaid and return receipt requested. Notices shall be deemed to have been given upon delivery, if delivered by hand, three days after mailing, if mailed, and upon
receipt of an appropriate electronic confirmation, if delivered by electronic mail transmission. Notices shall be delivered to the parties at the addresses set forth below: 
  

			
	If to the Company:	  	 Diamondback Energy, Inc.
 500 West Texas, Suite
1220
 Midland, Texas 79701
 Attn: Matt P. Zmigrosky, General
Counsel
 Email: mzmigrosky@diamondbackenergy.com

		
	With copies to (which shall not constitute notice):	  	 Akin Gump Strauss Hauer & Feld LLP

1700 Pacific Avenue Suite 4100
 Dallas, Texas 75201

Attention: Seth R. Molay
 Email:
smolay@akingump.com

		
		  	 Akin Gump Strauss Hauer & Feld LLP

1111 Louisiana Street 44th Floor
 Houston, Texas 77002

Attention: John Goodgame
 Email:
jgoodgame@akingump.com

		
	If to any Holder, at its address listed on the signature pages hereof.	  	

 Any party may from time to time change its address or designee for notification purposes by giving the other
parties prior notice in the manner specified above of the new address or the new designee and the subsequent date upon which the change shall be effective. 

4.2 Choice of Law; Exclusive Jurisdiction; Waiver of Jury Trial. 

(a) This Agreement shall be constructed, interpreted and enforced in accordance with, and the respective rights and obligations of the parties
shall be governed by, the laws of the State of Delaware without regard to principles of conflicts of law. 
 (b) All actions and proceedings
for the enforcement of or based on, arising out of or relating to this Agreement shall be heard and determined exclusively in the Delaware Court of Chancery (or, only if the Delaware Court of Chancery declines to accept jurisdiction over the
particular matter, any other court of the State of Delaware, or any federal court sitting in the State of Delaware), and each of the parties hereto hereby (i) irrevocably submits to the exclusive jurisdiction of such courts (and, in the case of
appeals, appropriate appellate courts therefrom) in any such action or proceeding, (ii) irrevocably waives the defense of an inconvenient forum to the maintenance of any such action or proceeding, (iii) agrees that it shall not bring any
such action in any court other than the Court of Chancery of the State of Delaware (or, only if the Delaware Court of Chancery declines to accept jurisdiction over the particular matter, any other court of the State of Delaware, or any federal court
sitting in the State of Delaware), and (iv) irrevocably consents to service of process by first class certified mail, return receipt requested, postage prepaid, to the address at which the Company or Holder, as the case may be, is to receive
notice in accordance with Section 4.1. The parties hereto agree that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other
manner provided by applicable law. 
 (c) Each of the parties hereto hereby irrevocably waives any and all rights to trial by jury in any
legal proceeding arising out of or related to this Agreement. 

  
 13 

 4.3 No Third-Party Beneficiaries. This Agreement is for the sole benefit of
the parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever, under or
by reason of this Agreement; provided, however, the parties hereto hereby acknowledge that the Persons set forth in Section 2.6 are express third-party beneficiaries of the obligations of the parties hereto
set forth in Section 2.6. 
 4.4 Successors and Assigns. Except as otherwise expressly provided
herein, this Agreement shall be binding upon and benefit the Company, each Holder and their respective successors and assigns. The Company shall not, directly or indirectly, enter into any merger, consolidation or reorganization in which the
Company shall not be the surviving entity unless the surviving entity shall, prior to such merger, consolidation or reorganization, agree in writing to assume the obligations of the Company under this Agreement, and for that purpose references
hereunder to “Registrable Securities” shall be deemed to include the common equity interests or other securities, if any, which the Holders would be entitled to receive in exchange for Registrable Securities under any such merger,
consolidation or reorganization, provided that, to the extent the Holders receive securities that are by their terms convertible into common equity interests of the issuer thereof, then any such common equity interests as are issued or
issuable upon conversion of said convertible securities shall be included within the definition of “Registrable Securities.” 
 4.5
Counterparts. This Agreement may be executed by the parties in separate counterparts (including by means of executed counterparts delivered via electronic means), each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. 
 4.6 Severability. In case any provision in this Agreement shall be held
invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and the remaining provisions shall not in any way be affected or impaired thereby. 

4.7 No Waivers; Amendments. 

(a) No failure or delay on the part of the Company or any Holder in exercising any right, power or remedy hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The remedies provided for herein are cumulative and are not
exclusive of any remedies that may be available to the Company or any Holder at law or in equity or otherwise. 
 (b) Any provision of this
Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed by the Company and the Required Holders. 

4.8 Entire Agreement. This Agreement and the other writings referred to herein or therein or delivered pursuant hereto or
thereto, contain the entire agreement between the Holders and the Company with respect to the subject matter hereof and supersede all prior and contemporaneous arrangements or understandings with respect thereto. 

4.9 Remedies; Specific Performance. 

(a) Each Holder shall have all rights and remedies reserved for such Holder pursuant to this Agreement and all rights and remedies which such
Holder has been granted at any time under any other agreement or contract and all of the rights which such Holder has under any law or equity. Any Person having any rights under any provision of this Agreement will be entitled to enforce such rights
specifically, to recover damages by reason of any breach of any provision of this Agreement and to exercise all other rights granted by law or equity. 

(b) The parties hereto recognize and agree that money damages may be insufficient to compensate the Holders of any Registrable Securities for
breaches by the Company of the terms hereof and, consequently, that the equitable remedies of injunctive relief and of specific performance of the terms hereof will be available in the event of any such breach. If any action should be brought in
equity to enforce any of the provisions of this Agreement, none of the parties hereto shall raise the defense that there is an adequate remedy at law. 

  
 14 

 4.10 Negotiated Agreement. This Agreement was negotiated by the parties with
the benefit of legal representation, and any rule of construction or interpretation otherwise requiring this Agreement to be construed or interpreted against any party shall not apply to the construction or interpretation hereof. 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

  
 15 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized officers as of the date first written above. 
  

			
	DIAMONDBACK ENERGY, INC.
		
	By:	 	 /s/ Kaes Van’t Hof

	Name:	 	Kaes Van’t Hof
	Title:	 	Chief Financial Officer

  
 Signature Page to the
Registration Rights Agreement 

 
			
	GUIDON ENERGY HOLDINGS LP
		
	By:	 	 /s/ Jay P. Still

	Name:	 	Jay P. Still
	Title:	 	President and Chief Executive Officer
	
	Address:
	
	 Guidon Energy Holdings LP
 545 E.
John Carpenter Fwy, Ste. 1300

	Irving, TX 75062
	 Attention:
	 	Jay Still
	 Email:
	 	j.still@guidonenergy.com
	
	With copies to (which shall not constitute notice):
	
	 Blackstone Management Partners L.L.C.

345 Park Avenue, 43rd Floor

	New York, New York 10154
	Attention:	 	Angelo Acconcia
		 	Erik Belz
	Email:	 	acconcia@blackstone.com
		 	Erik.Belz@blackstone.com
	
	Kirkland & Ellis LLP
	609 Main Street, Suite 4500
	Houston, TX 77002
	Attention:	 	Rhett Van Syoc, P.C.
		 	Michael Rigdon
	Email:	 	rhett.vansyoc@kirkland.com
		 	michael.rigdon@kirkland.com

  
 Signature Page to the
Registration Rights Agreement 

 
			
	GUIDON OPERATING LLC
		
	By:	 	 /s/ Jay P. Still

	Name:	 	Jay P. Still
	Title:	 	President and Chief Executive Officer
	
	Address:
	
	 Guidon Operating LLC
 545 E. John
Carpenter Fwy, Ste. 1300

	Irving, TX 75062
	Attention:	 	Jay Still
	Email:	 	j.still@guidonenergy.com
	
	With copies to (which shall not constitute notice):
	
	 Blackstone Management Partners L.L.C.

345 Park Avenue, 43rd Floor

	New York, New York 10154
	Attention:	 	Angelo Acconcia
		 	Erik Belz
	Email:	 	acconcia@blackstone.com
		 	Erik.Belz@blackstone.com
	
	Kirkland & Ellis LLP
	609 Main Street, Suite 4500
	Houston, TX 77002
	Attention:	 	Rhett Van Syoc, P.C.
		 	Michael Rigdon
	Email:	 	rhett.vansyoc@kirkland.com
		 	michael.rigdon@kirkland.com

  
 Signature Page to the
Registration Rights Agreement

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