Document:

Registration Rights Agreement

 Exhibit 4.4 
 PLATINUM ENERGY SOLUTIONS, INC. 
 $115,000,000 14.25% Senior Secured
Notes due 2015 and 
 115,000 Warrants to Purchase Common Stock 

REGISTRATION RIGHTS AGREEMENT 
 March 3, 2011 
 GLOBAL HUNTER SECURITIES, LLC 

400 Poydras Street 
 Suite 3100 

New Orleans, Louisiana 70130 
 and 

KNIGHT CAPITAL AMERICAS, L.P. 
 51 East Weaver
Street 
 1 Greenwich Office Park South 

2nd Floor 
 Greenwich, Connecticut 06831

 PLATINUM ENERGY SOLUTIONS, INC., a Nevada corporation (the “Issuer”), has engaged GLOBAL HUNTER SECURITIES,
LLC and KNIGHT CAPITAL AMERICAS, L.P., (f/k/a Knight Libertas, LLC) (the “Placement Agents”) in connection with the Issuer’s sale of 115,000 units (the “Units”), consisting of $115,000,000 aggregate principal
amount of its 14.25% Senior Secured Notes due 2015 (the “Notes”) and 115,000 warrants to purchase shares of common stock, par value $0.001, of the Issuer (the “Warrants,”), to the purchasers thereof (the
“Purchasers”), upon the terms set forth in the Purchase Agreement dated February 28, 2011, by and among the Issuer and the Purchasers (the “Purchase Agreement”). As an inducement to the Purchasers to enter into
the Purchase Agreement, the Issuer and PLATINUM PRESSURE PUMPING, INC., a Delaware company (the “Guarantor”), agree with the Placement Agents, for the benefit of the Holders (as defined below) of the Notes as follows: 

 

	1.	Definitions 

Capitalized terms that are used herein without definition and are defined in the Purchase Agreement shall have the respective meanings
ascribed to them in the Purchase Agreement. As used in this Agreement, the following terms shall have the following meanings: 

Additional Interest: See Section 4(a). 
 Advice: See Section 6(w). 

  
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 Agreement: This Registration Rights Agreement, dated as of the Closing Date, among
the Issuer, the Guarantor and the Placement Agents. 
 Applicable Period: See Section 2(e). 

Business Day: A day that is not a Saturday, a Sunday or a day on which banking institutions in the City of New York are authorized
or required by law or executive order to be closed. 
 Closing Date: March 3, 2011. 

day: Unless otherwise expressly provided, a calendar day. 

Effectiveness Date: The 270th day after the Closing Date. 
 Effectiveness Period: See Section 3(a). 
 Event Date: See
Section 4(b). 
 Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations of the
SEC promulgated thereunder. 
 Exchange Notes: Senior Secured Notes due 2015 of the Issuer, identical in all material
respects to the Notes, including the guarantees endorsed thereon, except for references to series and restrictive legends. 

Exchange Offer: See Section 2(a). 
 Exchange Offer Registration Statement: See Section 2(a). 
 Filing Date: The 180th day after the Closing Date. 
 FINRA: Financial Industry Regulatory
Authority. 
 freely tradable: A Transfer Restricted Security shall be deemed to be “freely tradable” at any
time of determination if at such time of determination (i) it may be sold to the public pursuant to Rule 144 under the Securities Act by a person that is not an “affiliate” (as defined in Rule 144 under the Securities Act) of the
Issuer without regard to any of the conditions specified therein (other than the holding period requirement in paragraph (d) of Rule 144 so long as such holding period requirement is satisfied at such time of determination) and (ii) it
does not bear any restrictive legends relating to the Securities Act. 
 Guarantor: See the introductory paragraph to
this Agreement. In addition, the term includes any other subsidiary of the Issuer that in the future guarantees the obligations of the Issuer under the Notes, the Exchange Notes and the Indenture. 

Holder: Any beneficial holder of Transfer Restricted Securities. 

Indemnified Party: See Section 8(c). 

  
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 Indemnifying Party: See Section 8(c). 

Indenture: The Indenture, dated as of the Closing Date, among the Issuer, the Guarantor and The Bank of New York Mellon Trust
Company, N.A., as trustee, pursuant to which the Notes are being issued, as amended or supplemented from time to time in accordance with the terms hereof.  
 Initial Shelf Registration Statement: See Section 3(a). 

Inspectors: See Section 6(o). 
 Issuer: See the introductory paragraph to this Agreement. 
 Lien:
Shall have the meaning set forth in the Indenture. 
 Losses: See Section 8(a). 

Maximum Contribution Amount. See Section 8(b). 
 Notes: See the introductory paragraph to this Agreement. 
 Participating
Broker-Dealer: See Section 2(e). 
 Person: An individual, trustee, corporation, partnership, limited liability
company, joint stock company, trust, unincorporated association, union, business association, firm, government or agency or political subdivision thereof, or other legal entity. 

Placement Agency Agreement: That certain Placement Agency Agreement, of even date with the Purchase Agreement, by and among the
Issuer and the Placement Agents. 
 Placement Agents: See the introductory paragraph to this Agreement.

 Prospectus: The prospectus included in any Registration Statement (including, without limitation, a prospectus that
discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with respect
to the terms of the offering of any portion of the Transfer Restricted Securities covered by such Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated
by reference or deemed to be incorporated by reference in such Prospectus. 
 Purchase Agreement: See the introductory
paragraph to this Agreement. 
 Records: See Section 6(o). 

Registration Statement: Any registration statement of the Issuer and the Guarantor filed with the SEC under the Securities Act
(including, but not limited to, the Exchange Offer Registration Statement, the Initial Shelf Registration Statement and any Subsequent Shelf Registration Statement) that covers any of the Transfer Restricted Securities pursuant to the

  
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provisions of this Agreement, including the Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all exhibits and all material incorporated
by reference or deemed to be incorporated by reference in such registration statement. 
 Rule 144: Rule 144 promulgated
under the Securities Act, as such Rule may be amended from time to time, or any similar rule (other than Rule 144A) or regulation hereafter adopted by the SEC providing for offers and sales of securities made in compliance therewith resulting in
offers and sales by subsequent holders that are not affiliates of an issuer or such securities being free of the registration and prospectus delivery requirements of the Securities Act. 

Rule 144A: Rule 144A promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule
(other than Rule 144) or regulation hereafter adopted by the SEC. 
 Rule 415: Rule 415 promulgated under the Securities
Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC. 
 Rule
430A: Rule 430A promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC. 
 SEC: The Securities and Exchange Commission. 
 Securities: The Notes
and the Exchange Notes. 
 Securities Act: The Securities Act of 1933, as amended, and the rules and regulations of the
SEC promulgated thereunder. 
 Security Documents: Shall have the meaning set forth in the Indenture. 

Shelf Filing Date: See Section 3(a). 
 Shelf Notice: See Section 2(i). 
 Shelf Registration Statement:
See Section 3(b). 
 Subsequent Shelf Registration Statement: See Section 3(b). 

TIA: The Trust Indenture Act of 1939, as amended. 
 Transfer Restricted Securities: Notes; provided, however, that a Note shall cease to be a Transfer Restricted Security upon the earliest to occur of the following: (i) in the
circumstances contemplated by Section 2(a), the Note has been exchanged for an Exchange Note in an Exchange Offer and, if such Note has been exchanged for an Exchange Note by a Participating Broker-Dealer, such Exchange Note is sold to a
purchaser who has received from such Participating Broker-Dealer on or prior to such sale a copy of the Prospectus contained in the Exchange Offer Registration Statement as contemplated by Section 2(e); (ii) in the circumstances
contemplated by Section 3, a Shelf Registration Statement registering such Note, under the 

  
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Securities Act has been declared or becomes effective and such Note has been sold or otherwise transferred by the holder thereof pursuant to and in a manner contemplated by such effective Shelf
Registration Statement; (iii) such Note is actually sold by the holder thereof pursuant to Rule 144 under circumstances in which any legend borne by such Note, relating to restrictions on transferability thereof, under the Securities Act or
otherwise, is removed by the Issuer or pursuant to the Indenture; or (iv) such Note shall cease to be outstanding. 

Trustee: The trustee under the Indenture and, if existent, the trustee under any indenture governing the Exchange Notes.

 Underwritten Registration or Underwritten Offering: A registration in which securities of the Issuer are sold to an
underwriter for reoffering to the public. 
 Units: See the introductory paragraph to this Agreement. 

Warrants: See the introductory paragraph to this Agreement. 

 

	2.	Exchange Offer 

  

	 	(a)	Exchange Offer Registration Statement. Unless the Exchange Offer (as defined below) would not be permitted by applicable laws or a policy of the SEC, the Issuer
shall (and shall cause each Guarantor to) (i) prepare and file with the SEC promptly after the date hereof, but in no event later than the Filing Date, a registration statement (the “Exchange Offer Registration Statement”) on
an appropriate form under the Securities Act with respect to an offer (the “Exchange Offer”) to the Holders of Notes to issue and deliver to such Holders, in exchange for the Notes, a like principal amount of Exchange Notes,
(ii) use its reasonable best efforts to cause the Exchange Offer Registration Statement to become effective on or prior to the Effectiveness Date, (iii) use its reasonable best efforts to keep the Exchange Offer Registration Statement
effective until the consummation of the Exchange Offer in accordance with its terms, (iv) commence the Exchange Offer as soon as practicable after the date on which the Exchange Offer Registration Statement is declared effective, and
(v) issue on or prior to 30 Business Days, or longer, if required by the federal securities laws, after the date on which the Exchange Offer Registration Statement is declared effective, Exchange Notes, including the related guarantees, as
applicable in exchange for all Notes tendered prior thereto in the Exchange Offer. The Exchange Offer shall not be subject to any conditions, other than that the Exchange Offer does not violate applicable law or any applicable interpretation of the
staff of the SEC. 

  

	 	(b)	Exchange Notes Issued Under the Indenture. The Exchange Notes shall be issued under, and entitled to the benefits of, (i) the Indenture or a trust indenture
that is identical to the Indenture, other than such changes as are necessary to comply with any requirements of the SEC to effect or maintain the qualifications thereof under the TIA and (ii) the Security Documents. 

  
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	 	(c)	Interest on the Exchange Notes. Interest on the Exchange Notes will accrue from the last interest payment due date on which interest was paid on the Notes
surrendered in exchange therefor or, if no interest has been paid on the Notes, from the date of original issue of the Notes. Each Exchange Note shall bear interest at the rate set forth thereon; provided, that interest with respect to the
period prior to the issuance thereof shall accrue at the rate or rates borne by the Notes from time to time during such period. 

  

	 	(d)	Holder Representations. The Issuer may require each Holder as a condition to participation in the Exchange Offer to represent (i) that any Exchange Notes
received by it will be acquired in the ordinary course of its business, (ii) that at the time of the commencement and consummation of the Exchange Offer such Holder has not entered into any arrangement or understanding with any Person to
participate in the distribution (within the meaning of the Securities Act) of the Exchange Notes in violation of the provisions of the Securities Act, (iii) that such Holder is not an “affiliate” of the Issuer within the meaning of
Rule 405 of the Securities Act or, if such Holder is an “affiliate” of the Issuer within the meaning of Rule 405 of the Securities Act, it will comply with the registration and prospectus delivery requirements of the Securities Act to the
extent applicable to it, (iv) if such Holder is not a broker-dealer, that it is not engaged in, and does not intend to engage in, the distribution of the Notes and (v) if such Holder is a Participating Broker-Dealer, that it will deliver a
Prospectus in connection with any resale of the Exchange Notes. 

  

	 	(e)	Plan of Distribution. The Issuer shall (and shall cause each Guarantor to) include within the Prospectus contained in the Exchange Offer Registration Statement a
section entitled “Plan of Distribution” reasonably acceptable to the Placement Agents which shall contain a summary statement of the positions taken or policies made by the staff of the SEC with respect to the potential
“underwriter” status of any broker-dealer that is the beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of Exchange Notes received by such broker-dealer in the Exchange Offer for its own account in exchange for Notes that
were acquired by it as a result of market-making or other trading activity (a “Participating Broker-Dealer”), whether such positions or policies have been publicly disseminated by the staff of the SEC or such positions or policies,
in the judgment of the Placement Agents, represent the prevailing views of the staff of the SEC. Such “Plan of Distribution” section shall also allow, to the extent permitted by applicable policies and regulations of the SEC, the use of
the Prospectus by all Persons subject to the prospectus delivery requirements of the Securities Act, including, to the extent so permitted, all Participating Broker-Dealers, for such period of time as such Persons must comply with such requirements
in order to resell the Exchange Notes (the “Applicable Period”), and include a statement describing the manner in which Participating Broker-Dealers may resell the Exchange Notes. The Issuer shall use its reasonable best efforts to
keep the Exchange Offer Registration Statement effective and to amend and supplement the Prospectus contained therein, in order to permit such Prospectus to be lawfully delivered by all Persons subject to the prospectus delivery requirements of the
Securities Act during the Applicable Period. 

  
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	 	(f)	Issuer Duties in Connection with the Exchange Offer. In connection with the Exchange Offer, the Issuer shall (and shall cause each Guarantor to):

  

	 	(i)	jointly deliver to each Holder a copy of the Prospectus forming part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal
that is an exhibit to the Exchange Offer Registration Statement, and any related documents; 

  

	 	(ii)	keep the Exchange Offer open for not less than 30 days after the date notice thereof is mailed to the Holders (or longer if required by applicable law);

  

	 	(iii)	utilize the services of a depository for the Exchange Offer, which may be the Trustee or an affiliate thereof; 

 

	 	(iv)	permit Holders to withdraw tendered Transfer Restricted Securities at any time prior to the close of business, New York time, on the last Business Day on which the
Exchange Offer shall remain open; and 

  

	 	(v)	otherwise comply in all material respects with all applicable laws. 

  

	 	(g)	 Issuer’s Duties in Connection with the Transfer Restricted Securities. As soon as practicable after the close of the Exchange Offer, but in
no event later than the 30th Business Day or longer, if
required by the federal securities laws, after the date on which the Exchange Offer Registration Statement is declared effective, the Issuer shall (and shall cause each Guarantor to): 

 

	 	(i)	accept for exchange all Transfer Restricted Securities validly tendered pursuant to the Exchange Offer, and not validly withdrawn; 

 

	 	(ii)	jointly deliver to the Trustee for cancellation all Transfer Restricted Securities so accepted for exchange; and 

 

	 	(iii)	cause the Trustee to authenticate and deliver promptly to each Holder tendering such Transfer Restricted Securities, Exchange Notes equal in principal amount to the
Notes of such Holder so accepted for exchange. 

  
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	 	(h)	Issuance of the Exchange Notes. The Exchange Notes may be issued under (i) the Indenture or (ii) an indenture identical to the Indenture (other than
such changes as are necessary to comply with any requirements of the SEC to effect or maintain the qualification thereof under the TIA), which in either event will provide that the Exchange Notes will not be subject to the transfer restrictions set
forth in the Indenture and that the Exchange Notes and the Notes, if any, will be deemed one class of security (subject to the provisions of the Indenture) and entitled to participate in all the security granted by the Issuer pursuant to the
Security Documents and in any Subsidiary Guarantee (as such terms are defined in the Indenture) on an equal and ratable basis. 

  

	 	(i)	 Shelf Notice. If (i) any Holder notifies the Issuer prior to the 15th Business Day following consummation of the Exchange Offer that: (A) it is prohibited by law or SEC policy from
participating in the Exchange Offer; (B) it may not resell the Exchange Notes acquired by it in the Exchange Offer to the public without delivering a prospectus and the prospectus contained in the Exchange Offer Registration Statement is not
appropriate or available for such resales; or (C) it is a broker-dealer and owns Notes acquired directly from the Issuer or an affiliate of the Issuer, (ii) the Issuer and the Guarantor are not required to file the Exchange Offer
Registration Statement, or (iii) applicable law or interpretations of the staff of the SEC would not permit the consummation of the Exchange Offer, then the Issuer shall promptly (and in any event within ten Business Days) deliver to the
Holders and the Trustee notice thereof (the “Shelf Notice”) and shall as soon as reasonably practicable thereafter (but in no event later than the Shelf Filing Date) file an Initial Shelf Registration pursuant to Section 3.

  

	3.	Shelf Registration Statement 

 If a Shelf Notice is delivered pursuant to Section 2(i), then this Section 3 shall apply to all Transfer Restricted Securities. Otherwise, upon consummation of the Exchange Offer in accordance
with Section 2, the provisions of this Section 3 shall apply solely with respect to (i) Notes held by any Holder thereof not permitted to participate in the Exchange Offer, (ii) Notes held by any broker-dealer that acquired such
Notes directly from the Issuer or any of its affiliates and (iii) Exchange Notes that are not freely tradeable as contemplated by Section 2(i)(i)(A) hereof, provided in each case that the relevant Holder has duly notified the Issuer
prior to the 15th Business Day following the consummation
of the Exchange Offer as contemplated by Section 2(i). 
  

	 	(a)	 Initial Shelf Registration Statement. The Issuer shall (and shall cause each Guarantor to), no later than the 30th day following delivery of the Shelf Notice (the “Shelf
Filing Date”), file with the SEC a Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 covering all of the Transfer Restricted Securities (the “Initial Shelf Registration
Statement”). The Issuer shall (and shall cause each Guarantor to) use its reasonable best efforts to cause such Initial Shelf Registration Statement to be declared effective under the Securities Act as promptly as practicable thereafter
(but in no event 

  
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more than 45 days after delivery of the Shelf Notice); provided, that the Issuer and the Guarantor shall not be required to cause the Initial Shelf Registration Statement to be declared
effective at any time prior to the Effective Date. The Initial Shelf Registration Statement shall be on Form S-1 or another appropriate form permitting registration of such Transfer Restricted Securities for resale by Holders in the manner or
manners reasonably designated by them (including, without limitation, one or more underwritten offerings). The Issuer and Guarantor shall not permit any securities other than the Transfer Restricted Securities to be included in any Shelf
Registration Statement. The Issuer shall (and shall cause each Guarantor to) use its reasonable best efforts to keep the Initial Shelf Registration Statement continuously effective under the Securities Act until the date which is two years from the
Closing Date (subject to extension pursuant to the last sentence of Section 6(w)) (the “Effectiveness Period”), or such shorter period ending when (i) all Transfer Restricted Securities covered by the Initial Shelf
Registration Statement have been sold in the manner set forth and as contemplated in the Initial Shelf Registration Statement, (ii) a Subsequent Shelf Registration Statement covering all of the Transfer Restricted Securities covered by and not
sold under the Initial Shelf Registration Statement or an earlier Subsequent Shelf Registration Statement has been declared effective under the Securities Act, (iii) all Transfer Restricted Securities can be sold by non-affiliates of the Issuer
pursuant to Rule 144 without any limitations under Rule 144 or (iv) there cease to be any outstanding Transfer Restricted Securities. 

  

	 	(b)	Subsequent Shelf Registration Statements. If the Initial Shelf Registration Statement or any Subsequent Shelf Registration Statement (as defined below) ceases to
be effective for any reason at any time during the Effectiveness Period (other than because of the sale of all of the securities registered thereunder), the Issuer shall (and shall cause each Guarantor to) use its reasonable best efforts to obtain
the prompt withdrawal of any order suspending the effectiveness thereof, and in any event shall within 30 days of such cessation of effectiveness amend such Shelf Registration Statement in a manner to obtain the withdrawal of the order suspending
the effectiveness thereof, or file (and cause each Guarantor to file) an additional “shelf” Registration Statement pursuant to Rule 415 covering all of the Transfer Restricted Securities (a “Subsequent Shelf Registration
Statement”). If a Subsequent Shelf Registration Statement is filed, the Issuer shall (and shall cause each Guarantor to) use its reasonable best efforts to cause the Subsequent Shelf Registration Statement to be declared effective as soon
as practicable after such filing and to keep such Subsequent Shelf Registration Statement continuously effective for a period equal to the number of days in the Effectiveness Period less the aggregate number of days during which the Initial Shelf
Registration Statement or any Subsequent Shelf Registration Statement was previously continuously effective. As used herein the term “Shelf Registration Statement” means the Initial Shelf Registration Statement and any Subsequent
Shelf Registration Statements 

  
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	 	(c)	Supplements and Amendments. The Issuer shall promptly supplement and amend any Shelf Registration Statement if required by the rules, regulations or instructions
applicable to the registration form used for such Shelf Registration Statement, if required by the Securities Act, or if reasonably requested in writing by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities
covered by such Shelf Registration Statement or by any underwriter of such Transfer Restricted Securities. 

  

	 	(d)	Provision of Information. No Holder of Transfer Restricted Securities shall be entitled to include any of its Transfer Restricted Securities in any Shelf
Registration Statement pursuant to this Agreement unless such Holder furnishes to the Issuer and the Trustee in writing, within 15 days after receipt of a written request therefor, such information as the Issuer and the Trustee after conferring with
counsel with regard to information relating to Holders that would be required by the SEC to be included in such Shelf Registration Statement or Prospectus included therein, may reasonably request for inclusion in any Shelf Registration Statement or
Prospectus included therein, and no such Holder shall be entitled to Additional Interest pursuant to Section 4 hereof unless and until such Holder shall have provided such information. 

 

	4.	Additional Interest 

  

	 	(a)	Events Triggering Additional Interest. The Issuer and the Guarantor acknowledge and agree that the Holders of Transfer Restricted Securities will suffer damages
if the Issuer or any Guarantor fails to fulfill their material obligations under Section 2 or Section 3 hereof and that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, the Issuer and the
Guarantor agree to pay additional cash interest on the Notes (“Additional Interest”) under the circumstances and to the extent set forth below (each of which shall be given independent effect): 

 

	 	(i)	if (A) the Exchange Offer Registration Statement has not been filed on or prior to the Filing Date or (B) in the event the Issuer and the Guarantor are
obligated to file an Initial Shelf Registration Statement pursuant to Section 2(i) and Section 3 above and such Initial Shelf Registration Statement has not been filed on the Shelf Filing Date, Additional Interest shall accrue on the Notes
over and above any stated interest at a rate of 0.25% per annum of the principal amount of such Notes for the first 90 days immediately following the date on which such default occurred, such Additional Interest rate increasing by an additional
0.25% per annum at the beginning of each subsequent 90-day period; 

  
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	 	(ii)	 if the Exchange Offer Registration Statement is not declared effective on or prior to the Effectiveness Date or, if required to be filed pursuant to
Section 2(i) and Section 3 above, the Initial Shelf Registration Statement is not declared effective on or prior to the Effectiveness Date, or if required to be filed pursuant to Section 2 and Section 3 above, the Shelf
Registration Statement is not declared effective on or prior to the later to occur of the Effectiveness Date and the
45th day after the Shelf Filing Date, Additional Interest
shall accrue on the Notes over and above any stated interest at a rate of 0.25% per annum of the principal amount of such Notes for the first 90 days immediately following the Effectiveness Date, such Additional Interest rate increasing by an
additional 0.25% per annum at the beginning of each subsequent 90-day period; 

  

	 	(iii)	 if (A) the Exchange Offer is not consummated on or prior to the 30th Business Day after the date on which the Exchange Offer Registration Statement is declared effective (or such later
date as required under the federal securities laws if more than 30 days is required under such federal securities laws), (B) the Exchange Offer Registration Statement ceases to be effective at any time prior to the time that the Exchange Offer
is consummated, or (C) if applicable, a Shelf Registration Statement has been declared effective and such Shelf Registration Statement ceases to be effective at any time prior to the second anniversary of its effective date (other than such
time as all Notes have been disposed of thereunder), then Additional Interest shall accrue on the Notes, over and above any stated interest, at a rate of 0.25% per annum of the principal amount of such Notes commencing on (1) the 31st Business Day after the Effectiveness Date, in the case of
(A) above, or (2) the date the Exchange Offer Registration Statement ceases to be effective without being declared effective again within 30 days, in the case of (B) above, or (3) the day such Shelf Registration Statement ceases
to be effective in the case of (C) above, such Additional Interest rate increasing by an additional 0.25% per annum at the beginning of each such subsequent 90-day period; 

  
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 provided, however, that the maximum Additional Interest rate on the Notes may not
exceed at any one time in the aggregate 1.00% per annum; and provided further, that (1) upon the filing of the Exchange Offer Registration Statement or Initial Shelf Registration Statement (in the case of (i) above),
(2) upon the effectiveness of the Exchange Offer Registration Statement or Initial Shelf Registration Statement (in the case of (ii) above), (3) upon the exchange of Exchange Notes for all Notes tendered (in the case of (iii)(A)
above), or upon the effectiveness of the Exchange Offer Registration Statement that had ceased to remain effective (in the case of (iii)(B) above), or upon the effectiveness of a Shelf Registration Statement which had ceased to remain effective (in
the case of (iii)(C) above), Additional Interest on the Notes as a result of such clause (or the relevant subclause thereof), shall cease to accrue. Accrued Additional Interest shall be paid from and including the date on which any of the defaults
described in (i) through (iii) above occurred to but excluding the earlier of (i) the date on which Additional Interest would cease to accrue upon the cessation of the applicable event or events of default described in (i),
(ii) and/or (iii) above or (ii) the date on which all of the Transfer Restricted Securities, other than any Notes beneficially owned by affiliates of the Issuer, otherwise become freely tradable by all Holders, without further
registration under the Securities Act. Notwithstanding any other provision hereof, the accrual and payment of Additional Interest shall be the sole remedy available to any Holder upon the occurrence of any event of default described in
Section 4(a)(i) through Section 4(a)(iii) herein or any other failure by the Issuer or any Guarantor to fulfill their material obligations under Section 2 or Section 3 hereof. Holders who do not provide information pursuant to
Sections 3(d) or 6(v) in a timely manner shall not be entitled to receive Additional Interest. 
  

	 	(b)	Notice and Payment. The Issuer shall notify the Trustee within three Business Days after each and every date on which an event occurs in respect of which
Additional Interest is required to be paid (an “Event Date”). Any amounts of Additional Interest due pursuant to (a)(i), (a)(ii) or (a)(iii) of this Section 4 will be payable in cash, on the dates and in the manner
provided in the Indenture and whether or not any cash interest would then be payable on such date, commencing with the first such semi-annual date occurring after any such Additional Interest commences to accrue. The amount of Additional Interest
will be determined by multiplying the applicable Additional Interest rate by the principal amount of the Notes, multiplied by a fraction, the numerator of which is the number of days such Additional Interest rate was applicable during such period
(determined on the basis of a 360-day year comprised of twelve 30-day months), and the denominator of which is 360. 

  

	5.	Hold-Back Agreements 

 The Issuer agrees that it will not effect any public or private sale or distribution (including a sale pursuant to Regulation D under the Securities Act) of any securities the same as or similar to those
covered by a Registration Statement filed pursuant to Section 2 or 3 hereof 

  
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(other than Additional Notes (as defined in the Indenture) issued under the Indenture), or any securities convertible into or exchangeable or exercisable for such securities, during the 10 days
prior to, and during the 90-day period beginning on, the effective date of any Registration Statement filed pursuant to Sections 2 and 3 hereof unless the Holders of a majority in the aggregate principal amount of the Transfer Restricted Securities
to be included in such Registration Statement consent. 
  

	6.	Registration Procedures 

 In connection with the filing of any Registration Statement pursuant to Sections 2 or 3 hereof, the Issuer shall (and shall cause each Guarantor to) effect such registrations to permit the sale of
such securities covered thereby in accordance with the intended method or methods of disposition thereof, and pursuant thereto and in connection with any Registration Statement filed by the Issuer hereunder, the Issuer shall (and shall cause each
Guarantor to): 
  

	 	(a)	Prepare and file with the SEC as soon as practicable after the date hereof but in any event on or prior to the Filing Date, the Exchange Offer Registration Statement or
if the Exchange Offer Registration Statement is not filed because of the circumstances contemplated by Section 2(i), a Shelf Registration Statement as prescribed by Section 3, and use its reasonable best efforts to cause each such
Registration Statement to become effective and remain effective as provided herein; provided that, if (1) a Shelf Registration Statement is filed pursuant to Section 3 or (2) a Prospectus contained in an Exchange Offer
Registration Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto, before filing any
Registration Statement or Prospectus or any amendments or supplements thereto the Issuer shall (and shall cause each Guarantor to), if requested, furnish to and afford the Holders of the Transfer Restricted Securities to be registered pursuant to
such Shelf Registration Statement, each Participating Broker-Dealer, the managing underwriters, if any, and each of their respective counsel, a reasonable opportunity to review copies of all such documents (including copies of any documents to be
incorporated by reference therein and all exhibits thereto) proposed to be filed (in each case at least five Business Days prior to such filing). The Issuer and each Guarantor shall not file any such Registration Statement or Prospectus or any
amendments or supplements thereto in respect of which the Holders must provide information for the inclusion therein without the Holders being afforded an opportunity to review such documentation if the holders of a majority in aggregate principal
amount of the Transfer Restricted Securities covered by such Registration Statement, or any such Participating Broker-Dealer, as the case may be, the managing underwriters, if any, or any of their respective counsel shall reasonably object in
writing on a timely basis. A Holder shall be deemed to have reasonably objected to such filing if such Registration Statement, amendment, Prospectus or supplement, as applicable, as proposed to be filed, contains an untrue statement of a material
fact or omits to state any material fact necessary to make the statements therein not misleading or fails to comply with the applicable requirements of the Securities Act. 

  
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	 	(b)	Provide an indenture trustee for the Transfer Restricted Securities or the Exchange Notes, as the case may be, and cause the Indenture (or other indenture relating to
the Transfer Restricted Securities) to be qualified under the TIA not later than the effective date of the first Registration Statement; and in connection therewith, to effect such changes to such indenture as may be required for such indenture to
be so qualified in accordance with the terms of the TIA; and execute, and use its reasonable best efforts to cause such trustee to execute, all documents as may be required to effect such changes, and all other forms and documents required to be
filed with the SEC to enable such indenture to be so qualified in a timely manner. 

  

	 	(c)	Prepare and file with the SEC such pre-effective amendments and post-effective amendments to each Shelf Registration Statement or Exchange Offer Registration Statement,
as the case may be, as may be necessary to keep such Registration Statement continuously effective for the Effectiveness Period or the Applicable Period, as the case may be; cause the related Prospectus to be supplemented by any Prospectus
supplement required by applicable law, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) promulgated under the Securities Act; and comply with the provisions of the Securities Act and the Exchange Act
applicable to them with respect to the disposition of all securities covered by such Registration Statement as so amended or in such Prospectus as so supplemented and with respect to the subsequent resale of any securities being sold by a
Participating Broker-Dealer covered by any such Prospectus. The Issuer and each Guarantor shall not, during the Applicable Period, voluntarily take any action that would result in selling Holders of the Transfer Restricted Securities covered by a
Registration Statement or Participating Broker-Dealers seeking to sell Exchange Notes not being able to sell such Transfer Restricted Securities or such Exchange Notes during that period, unless such action is required by applicable law, rule or
regulation or permitted by this Agreement. 

  

	 	(d)	 Furnish to such selling Holders and Participating Broker-Dealers who so request in writing (i) upon the Issuer’s receipt, a copy of the order
of the SEC declaring such Registration Statement and any post-effective amendment thereto effective, (ii) such reasonable number of copies of such Registration Statement and of each amendment and supplement thereto (in each case including any
documents incorporated therein by reference and all exhibits), (iii) such reasonable number of copies of the Prospectus included in such Registration Statement (including each preliminary Prospectus) and each amendment and supplement thereto,
and such reasonable number of copies of the final Prospectus as filed by the Issuer and each Guarantor pursuant to Rule 424(b) under the Securities Act, in conformity with the requirements of the Securities Act and each amendment and supplement
thereto, and (iv) such other documents (including any amendments required to be filed pursuant to clause (c) of this Section), as any such Person may reasonably request in writing. The Issuer and the Guarantor hereby consent to the use of
the Prospectus by each of the selling Holders of Transfer Restricted Securities or each such Participating 

  
 14 

	 	
Broker-Dealer, as the case may be, and the underwriters or agents, if any, and dealers, if any, in connection with the offering and sale of the Transfer Restricted Securities covered by, or the
sale by Participating Broker-Dealers of the Exchange Notes pursuant to, such Prospectus and any amendment or supplement thereto. 

  

	 	(e)	If a Shelf Registration Statement is filed pursuant to Section 3, or a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to
Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto, notify in writing the selling Holders of Transfer Restricted
Securities, or each such Participating Broker-Dealer, as the case may be, the managing underwriters, if any, and each of their respective counsel promptly (but in any event within two Business Days) (i) when a Prospectus or any Prospectus
supplement or post-effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective (including in such notice a written statement that any Holder may, upon request,
obtain, without charge, one conformed copy of such Registration Statement or post-effective amendment including financial statements and schedules, documents incorporated or deemed to be incorporated by reference and exhibits), (ii) of the
issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of any Prospectus or the initiation of any proceedings for that purpose, (iii) if at any time when a
Prospectus is required by the Securities Act to be delivered in connection with sales of the Transfer Restricted Securities the representations and warranties of the Issuer and any Guarantor contained in any agreement (including any underwriting
agreement) contemplated by Section 6(n) hereof cease to be true and correct, (iv) of the receipt by the Issuer or any Guarantor of any notification with respect to the suspension of the qualification or exemption from qualification of a
Registration Statement or any of the Transfer Restricted Securities or the Exchange Notes to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose,
(v) of the happening of any event, the existence of any condition of any information becoming known that makes any statement made in such Registration Statement or related Prospectus or any document incorporated or deemed to be incorporated
therein by reference untrue in any material respect or that requires the making of any changes in, or amendments or supplements to, such Registration Statement, Prospectus or documents so that, in the case of the Registration Statement and the
Prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not
misleading, (vi) of any reasonable determination by the Issuer or any Guarantor that a post-effective amendment to a Registration Statement would be appropriate and (vii) of any request by the SEC for amendments to the Registration
Statement or supplements to the Prospectus or for additional information relating thereto. 

  
 15 

	 	(f)	Use its reasonable best efforts to prevent the issuance of any order suspending the effectiveness of a Registration Statement or of any order preventing or suspending
the use of a Prospectus or suspending the qualification (or exemption from qualification) of any of the Transfer Restricted Securities or the Exchange Notes to be sold by any Participating Broker-Dealer, for sale in any jurisdiction, and, if any
such order is issued, to use its reasonable best efforts to obtain the withdrawal of any such order at the earliest possible date. 

  

	 	(g)	If (i) a Shelf Registration Statement is filed pursuant to Section 3, (ii) a Prospectus contained in an Exchange Offer Registration Statement filed
pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period or (iii) reasonably requested in writing by the managing
underwriters, if any, or the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities being sold in connection with an underwritten offering, (A) promptly incorporate in a Prospectus supplement or post-effective
amendment such information or revisions to information therein relating to such underwriters or selling Holders as the managing underwriters, if any, or such Holders or any of their respective counsel reasonably request in writing to be included or
made therein and (B) make all required filings of such Prospectus supplement or such post-effective amendment as soon as practicable after the Issuer has received notification of the matters to be incorporated in such Prospectus supplements or
post-effective amendment. 

  

	 	(h)	 Prior to any public offering of Transfer Restricted Securities or any delivery of a Prospectus contained in the Exchange Offer Registration Statement
by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, use its reasonable best efforts to register or qualify, and to cooperate with the selling Holders of Transfer Restricted Securities or each such
Participating Broker-Dealer, as the case may be, the underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption from such registration or qualification) of such Transfer Restricted
Securities or Exchange Notes, as the case may be, for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any selling Holder, Participating Broker-Dealer or any managing underwriter or underwriters,
if any, reasonably request in writing; provided, that where Exchange Notes held by Participating Broker-Dealers or Transfer Restricted Securities are offered other than through an underwritten offering, the Issuer and the Guarantor agree to
cause their counsel to perform Blue Sky investigations and file any registrations and qualifications required to be filed pursuant to this Section 6(h), keep each such registration or qualification (or exemption therefrom) effective during the
period such Registration Statement is required to be kept effective and do any and all other acts or things reasonably necessary or advisable to enable the disposition in such jurisdictions of the Exchange Notes held by Participating Broker-Dealers
or the Transfer Restricted Securities covered by the applicable Registration Statement; provided that neither the Issuer nor any Guarantor shall be required to (A) qualify generally to

  
 16 

	 	
do business in any jurisdiction where it is not then so qualified, (B) take any action that would subject it to general service of process in any such jurisdiction where it is not then so
subject or (C) subject itself to taxation in any such jurisdiction where it is not then so subject. 

  

	 	(i)	If (i) a Shelf Registration Statement is filed pursuant to Section 3 or (ii) a Prospectus contained in an Exchange Offer Registration Statement filed
pursuant to Section 2 is requested to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, cooperate with the selling Holders of Transfer Restricted Securities
and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Transfer Restricted Securities to be sold, which certificates shall not bear any restrictive legends and shall be in
a form eligible for deposit with The Depository Trust Company, and enable such Transfer Restricted Securities to be in such denominations and registered in such names as the managing underwriter or underwriters, if any, or Holders may reasonably
request. 

  

	 	(j)	Use its reasonable best efforts to cause the Transfer Restricted Securities covered by any Registration Statement to be registered with or approved by such governmental
agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter, if any, to consummate the disposition of such Transfer Restricted Securities, except as may be required solely as a consequence of the nature of
such selling Holder’s business, in which case the Issuer shall (and shall cause each Guarantor to) cooperate in all reasonable respects with the filing of such Registration Statement and the granting of such approvals; provided that
neither the Issuer nor any Guarantor shall be required to (i) qualify generally to do business in any jurisdiction where it is not then so qualified, (ii) take any action that would subject it to general service of process in any
jurisdiction where it is not then so subject or (iii) subject itself to taxation in any such jurisdiction where it is not then so subject. 

  

	 	(k)	 If (i) a Shelf Registration Statement is filed pursuant to Section 3, or (ii) a Prospectus contained in an Exchange Offer Registration
Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, upon the occurrence of any event contemplated by
paragraph 6(e)(v), 6(e)(vi) or 6(e)(vii) hereof, as promptly as practicable, prepare and file with the SEC, at the expense of the Issuer and the Guarantor, a supplement or post-effective amendment to the Registration Statement or a supplement to the
related Prospectus or any document incorporated or deemed to be incorporated therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of the Transfer Restricted Securities being sold thereunder or
to the purchasers of the Exchange Notes to whom such Prospectus will be delivered by a Participating Broker-Dealer, such Prospectus 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, in light 

  
 17 

	 	
of the circumstances under which they were made, not misleading, and, if SEC review is required, use its reasonable best efforts to cause such post-effective amendment to be declared effective as
soon as possible. 

  

	 	(l)	Use its reasonable best efforts to cause the Transfer Restricted Securities covered by a Registration Statement to be rated with such appropriate rating agencies, if so
requested in writing by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities covered by such Registration Statement or the managing underwriter or underwriters, if any. 

 

	 	(m)	Prior to the initial issuance of the Exchange Notes, (i) provide the Trustee with one or more certificates for the Transfer Restricted Securities in a form
eligible for deposit with The Depository Trust Company and (ii) provide a CUSIP number for the Exchange Notes. 

  

	 	(n)	 If a Shelf Registration Statement is filed pursuant to Section 3, enter into such agreements (including an underwriting agreement in form, scope
and substance as is customary in underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances) and take all such other actions in connection therewith (including those reasonably requested in writing by
the managing underwriters, if any, or the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities being sold) in order to expedite or facilitate the registration or the disposition of such Transfer Restricted
Securities, and in such connection, whether or not an underwriting agreement is entered into and whether or not the registration is an Underwritten Registration, (i) make such representations and warranties to the Holders and the underwriters,
if any, with respect to the business of the Issuer and its subsidiaries as then conducted, and the Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, in form,
substance and scope as are customarily made by Issuer to underwriters in underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances, and confirm the same if and when reasonably required;
(ii) obtain an opinion of counsel to the Issuer and the Guarantor and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the managing underwriters, if any, and the Holders of a
majority in aggregate principal amount of the Transfer Restricted Securities being sold), addressed to each selling Holder and each of the underwriters, if any, covering the matters customarily covered in opinions of counsel to the Issuer and the
Guarantor requested in underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances; (iii) obtain “cold comfort” letters and updates thereof (which letters and updates (in form, scope and
substance) shall be reasonably satisfactory to the managing underwriters) from the independent certified public accountants of the Issuer and its consolidated subsidiaries (and, if necessary, any other independent certified public accountants of any
other subsidiary of the Issuer or of any business acquired by the Issuer for which financial statements and financial data are, or are required to be, included in the Registration Statement), addressed to

  
 18 

	 	
each of the underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with underwritten offerings
of debt securities similar to the Notes, as may be appropriate in the circumstances, and such other matters as reasonably requested in writing by the underwriters; and (iv) deliver such documents and certificates as may be reasonably requested
in writing by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities being sold and the managing underwriters, if any, to evidence the continued validity of the representations and warranties of the Issuer and
its subsidiaries made pursuant to clause (i) above and to evidence compliance with any conditions contained in the underwriting agreement or other similar agreement entered into by the Issuer or any Guarantor. 

 

	 	(o)	 If a Shelf Registration Statement is filed pursuant to Section 3, or a Prospectus contained in an Exchange Offer Registration Statement filed
pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, make available for inspection by any selling Holder of such Transfer
Restricted Securities being sold, or each such Participating Broker-Dealer, as the case may be, any underwriter participating in any such disposition of Transfer Restricted Securities, if any, and any attorney, accountant or other agent retained by
any such selling Holder or each such Participating Broker-Dealer, as the case may be, or underwriter (collectively, the “Inspectors”), at the offices where normally kept, during reasonable business hours, all financial and other
records and pertinent corporate documents of the Issuer and its subsidiaries (collectively, the “Records”) as shall be reasonably necessary to enable them to exercise any applicable due diligence responsibilities, and cause the
officers, directors and employees of the Issuer and its subsidiaries to supply all information reasonably requested in writing by any such Inspector in connection with such Registration Statement. Each Inspector shall agree in writing that it will
keep the Records confidential and not disclose any of the Records unless (i) the disclosure of such Records is necessary to avoid or correct a misstatement or omission in such Registration Statement, (ii) the release of such Records is
ordered pursuant to a subpoena or other order from a court of competent jurisdiction, (iii) the information in such Records is public or has been made generally available to the public other than as a result of a disclosure or failure to
safeguard by such Inspector or (iv) disclosure of such information is, in the reasonable written opinion of counsel for any Inspector, necessary or advisable in connection with any action, claim, suit or proceeding, directly or indirectly,
involving or potentially involving such Inspector and arising out of, based upon, related to, or involving this Agreement, or any transaction contemplated hereby or arising hereunder. Each selling Holder of such Transfer Restricted Securities and
each such Participating Broker-Dealer will be required to agree that information obtained by it as a result of such inspections shall be deemed confidential and shall not be used by it as the basis for any market transactions in the securities of
the Issuer unless and until such is made generally available to the public. Each Inspector, each selling Holder of such Transfer Restricted Securities and 

  
 19 

	 	
each such Participating Broker-Dealer will be required to further agree that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to
the Issuer and, to the extent practicable, use its best efforts to allow the Issuer, at its expense, to undertake appropriate action to prevent disclosure of the Records deemed confidential at its expense. 

 

	 	(p)	Comply with all applicable rules and regulations of the SEC and make generally available to the security holders of the Issuer with regard to any Applicable
Registration Statement earning statements satisfying the provisions of section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 45 days after the end of any 12-month period
(or 90 days after the end of any 12-month period if such period is a fiscal year) (i) commencing at the end of any fiscal quarter in which Transfer Restricted Securities are sold to underwriters in a firm commitment or best efforts underwritten
offering and (ii) if not sold to underwriters in such an offering, commencing on the first day of the first fiscal quarter of the Issuer after the effective date of a Registration Statement, which statements shall cover said 12-month periods.

  

	 	(q)	Upon consummation of an Exchange Offer, obtain an opinion of counsel to the Issuer and the Guarantor (in form, scope and substance reasonably satisfactory to the
Placement Agents), addressed to the Trustee for the benefit of all Holders participating in the Exchange Offer, to the effect that (i) the Issuer has duly authorized, executed and delivered the Exchange Notes and the Indenture, (ii) the
Exchange Notes and the Indenture constitute legal, valid and binding obligations of the Issuer and the Guarantor, enforceable against the Issuer and the Guarantor in accordance with their respective terms, except as such enforcement may be subject
to customary United States and foreign exceptions and (iii) all obligations of the Issuer and the Guarantor under the Exchange Notes and the Indenture are secured by Liens (as defined in the Indenture) on the assets securing the obligations of
the Issuer and the Guarantor under the Notes, Indenture and Security Documents to the extent and as discussed in the Registration Statement. 

  

	 	(r)	If the Exchange Offer is to be consummated, upon delivery of the Transfer Restricted Securities by the Holders to the Issuer (or to such other Person as directed by the
Issuer) in exchange for the Exchange Notes, mark, or caused to be marked, on such Transfer Restricted Securities that the Exchange Notes, are being issued as substitute evidence of the indebtedness originally evidenced by the Transfer Restricted
Securities; provided that in no event shall such Transfer Restricted Securities be marked as paid or otherwise satisfied. 

  

	 	(s)	Cooperate with each seller of Transfer Restricted Securities covered by any Registration Statement and each underwriter, if any, participating in the disposition of
such Transfer Restricted Securities and their respective counsel in connection with any filings required to be made with FINRA. 

  
 20 

	 	(t)	Use its reasonable best efforts to cause all Securities covered by a Registration Statement to be listed on each securities exchange, if any, on which similar debt
securities issued by the Issuer are then listed. 

  

	 	(u)	Use its reasonable best efforts to take all other steps reasonably necessary to effect the registration of the Transfer Restricted Securities covered by a Registration
Statement contemplated hereby. 

  

	 	(v)	Require each seller of Transfer Restricted Securities or Participating Broker-Dealer as to which any registration is being effected to furnish such information
regarding such seller or Participating Broker-Dealer and the distribution of such Transfer Restricted Securities as the Issuer or any Guarantor may, from time to time, reasonably request in writing. The Issuer and Guarantor may exclude from such
registration the Transfer Restricted Securities of any seller who fails to furnish such information within a reasonable time (which time in no event shall exceed 15 days, subject to Section 3(d)) hereof) after receiving such request. Each
seller of Transfer Restricted Securities or Participating Broker-Dealer as to which any registration is being effected agrees to furnish promptly to the Issuer all information required to be disclosed in order to make the information previously
furnished by such seller not materially misleading. 

  

	 	(w)	Each Holder of Transfer Restricted Securities and each Participating Broker-Dealer agrees by acquisition of such Transfer Restricted Securities or Exchange Notes to be
sold by such Participating Broker-Dealer, as the case may be, that, upon receipt of any notice from the Issuer of the happening of any event of the kind described in Section 6(e)(ii), 6(e)(iv), 6(e)(v), or 6(e)(vi), such Holder will forthwith
discontinue disposition of such Transfer Restricted Securities covered by a Registration Statement and such Participating Broker-Dealer will forthwith discontinue disposition of such Exchange Notes pursuant to any Prospectus and, in each case,
forthwith discontinue dissemination of such Prospectus until such Holder’s or Participating Broker-Dealer’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 6(k), or until it is advised in
writing (the “Advice”) by the Issuer that the use of the applicable Prospectus may be resumed, and has received copies of any amendments or supplements thereto and, if so directed by the Issuer, such Holder or Participating
Broker-Dealer, as the case may be, will deliver to the Issuer all copies, other than permanent file copies, then in such Holder’s or Participating Broker-Dealer’s possession, of the Prospectus covering such Transfer Restricted Securities
current at the time of the receipt of such notice. In the event the Issuer and the Guarantor shall give any such notice, the Applicable Period shall be extended by the number of days during such periods from and including the date of the giving of
such notice to and including the date when each Participating Broker-Dealer shall have received (i) the copies of the supplemented or amended Prospectus contemplated by Section 6(k) or (ii) the Advice. 

  
 21 

	7.	Registration Expenses 

  

	 	(a)	Expenses Borne by the Issuer and Guarantor. All fees and expenses incident to the performance of or compliance with this Agreement by the Issuer and the
Guarantor shall be borne by the Issuer and the Guarantor, whether or not the Exchange Offer or a Shelf Registration Statement is filed or becomes effective, including, without limitation, (i) all registration and filing fees, including, without
limitation, (A) fees with respect to filings required to be made with FINRA in connection with any underwritten offering and (B) fees and expenses of compliance with state securities or Blue Sky laws as provided in Section 6(h) hereof
(including, without limitation, reasonable fees and disbursements of counsel in connection with Blue Sky qualifications of the Transfer Restricted Securities or Exchange Notes and determination of the eligibility of the Transfer Restricted
Securities or Exchange Notes for investment under the laws of such jurisdictions (1) where the Holders are located, in the case of the Exchange Notes, or (2) as provided in Section 6(h), in the case of Transfer Restricted Securities
or Exchange Notes to be sold by a Participating Broker-Dealer during the Applicable Period)), (ii) printing expenses, including, without limitation, expenses of printing Prospectuses if the printing of Prospectuses is requested by the managing
underwriter or underwriters, if any, or by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities included in any Registration Statement or by any Participating Broker-Dealer during the Applicable Period, as
the case may be, (iii) messenger, telephone and delivery expenses incurred in connection with the performance of their obligations hereunder, (iv) fees and disbursements of counsel for the Issuer and the Guarantor, (v) fees and
disbursements of all independent certified public accountants referred to in Section 6 (including, without limitation, the expenses of any special audit and “cold comfort” letters required by or incident to such performance),
(vi) rating agency fees and the fees and expenses incurred in connection with the listing of the Securities to be registered on any securities exchange, (vii) Securities Act liability insurance, if the Issuer and the Guarantor desire such
insurance, (viii) fees and expenses of all other Persons retained by the Issuer and the Guarantor, (ix) fees and expenses of any “qualified independent underwriter” or other independent appraiser participating in an offering
pursuant to Section 3 of Schedule E to the By-laws of FINRA, but only where the need for such a “qualified independent underwriter” arises due to a relationship with the Issuer and the Guarantor, (x) internal expenses of the
Issuer and the Guarantor (including, without limitation, all salaries and expenses of officers and employees of the Issuer or the Guarantor performing legal or accounting duties), (xi) the expense of any annual audit, (xii) the fees and
expenses of the Trustee and the Exchange Agent and (xiii) the expenses relating to printing, word processing and distributing all Registration Statements, underwriting agreements, securities sales agreements, indentures and any other documents
necessary in order to comply with this Agreement. 

  

	 	(b)	 Holder Reimbursement. The Issuer and the Guarantor shall reimburse the Holders for the reasonable fees and disbursements of not more than one
counsel 

  
 22 

	 	
chosen by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities to be included in any Registration Statement. The Issuer and the Guarantor shall pay all
documentary, stamp, transfer or other transactional taxes attributable to the issuance or delivery of the Exchange Notes in exchange for the Notes; provided that the Issuer shall not be required to pay taxes payable in respect of any transfer
involved in the issuance or delivery of any Exchange Notes in a name other than that of the Holder of the Note in respect of which such Exchange Note is being issued. The Issuer and the Guarantor shall reimburse the Holders for fees and expenses
(including reasonable fees and expenses of not more than one counsel to the Holders) relating to any proper enforcement of any rights of the Holders under this Agreement. In no event shall the Issuer or the Guarantor be responsible for any broker or
similar commissions of any Holders, or except the extent provided herein, any legal fees or other costs of the Holders. 

  

	8.	Indemnification 

  

	 	(a)	Indemnification by the Issuer and Guarantor. The Issuer and the Guarantor jointly and severally agree to indemnify and hold harmless each Holder of Transfer
Restricted Securities, Exchange Notes and each Participating Broker-Dealer selling Exchange Notes during the Applicable Period, each Person, if any, who controls each such Holder (within the meaning of Section 15 of the Securities Act or
Section 20(a) of the Exchange Act) and the officers, directors and partners of each such Holder, Participating Broker-Dealer and controlling person, to the fullest extent lawful, from and against any and all losses, claims, damages,
liabilities, costs (including, without limitation, reasonable costs of preparation and reasonable attorneys’ fees as provided in this Section 8) and expenses (including, without limitation, reasonable costs and expenses incurred in
connection with investigating, preparing, pursuing or defending against any of the foregoing) (collectively, “Losses”), as incurred, directly or indirectly caused by, related to, based upon, arising out of or in connection with any
untrue or alleged untrue statement of a material fact contained in any Registration Statement, Prospectus or form of prospectus, or in any amendment or supplement thereto, or in any preliminary prospectus, or any omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, except insofar as such Losses are solely based upon information
relating to such Holder or Participating Broker-Dealer and furnished in writing to the Issuer and the Guarantor by such Holder or Participating Broker-Dealer or their counsel expressly for use therein. The Issuer and the Guarantor also agree to
indemnify underwriters, selling brokers, dealer managers and similar securities industry professionals participating in the distribution, their officers, directors, agents and employees and each Person who controls such Persons (within the meaning
of Section 5 of the Securities Act or Section 20(a) of the Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders or the Participating Broker-Dealer. 

  
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	 	(b)	Indemnification by Holder. In connection with any Registration Statement, Prospectus or form of prospectus, any amendment or supplement thereto, or any
preliminary prospectus in which a Holder is participating, such Holder shall furnish to the Issuer and the Guarantor in writing such information as the Issuer and the Guarantor reasonably request for use in connection with any Registration
Statement, Prospectus or form of prospectus, any amendment or supplement thereto, or any preliminary prospectus and shall indemnify and hold harmless the Issuer, the Guarantor, their respective directors and each Person, if any, who controls the
Issuer and the Guarantor (within the meaning of Section 15 of the Securities Act and Section 20(a) of the Exchange Act), and the directors, officers and partners of such controlling persons, to the fullest extent lawful, from and against
all Losses arising out of or based upon any untrue or alleged untrue statement of a material fact contained in any Registration Statement, Prospectus or form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus,
or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading to the extent, but only to
the extent, that such losses are finally judicially determined by a court of competent jurisdiction in a final, unappealable order to have resulted solely from an untrue statement or alleged untrue statement of a material fact or omission or alleged
omission of a material fact contained in or omitted from any information so furnished in writing by such Holder to the Issuer and the Guarantor expressly for use therein. Notwithstanding the foregoing, in no event shall the liability of any selling
Holder be greater in amount than such Holder’s Maximum Contribution Amount (as defined below). 

  

	 	(c)	Conduct of Indemnification Proceedings. If any proceeding shall be brought or asserted against any Person entitled to indemnity hereunder (an
“Indemnified Party”), such Indemnified Party shall promptly notify the party or parties from which such indemnity is sought (the “Indemnifying Party” or “Indemnifying Parties”, as applicable) in
writing; but the omission to so notify the Indemnifying Party (i) will not relieve such Indemnifying Party from any liability under paragraph (a) or (b) above unless and only to the extent it is materially prejudiced as a result
thereof and (ii) will not, in any event, relieve the Indemnifying Party from any obligations to any Indemnified Party other than the indemnification obligation provided in paragraphs (a) and (b) above. 

 

	 	(d)	 Costs of Indemnification Proceedings. Each Indemnifying Party shall have the right, exercisable by giving written notice to an Indemnified
Party, within 20 Business Days after receipt of written notice from such Indemnified Party of such proceeding, to assume, at its expense, the defense of any such proceeding; provided, that an Indemnified Party shall have the right to employ
separate counsel in any such proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party or parties unless: (1) the Indemnifying Party has agreed to pay such
fees and expenses; or (2) the Indemnifying Party shall have failed promptly to 

  
 24 

	 	
assume the defense of such proceeding or shall have failed to employ counsel reasonably satisfactory to such Indemnified Party; or (3) the named parties to any such proceeding (including any
impleaded parties) include both such Indemnified Party and the Indemnifying Party or any of its affiliates or controlling persons, and such Indemnified Party shall have been advised by counsel and reasonably believe that there may be one or more
defenses available to such Indemnified Party that are in addition to, or in conflict with, those defenses available to the Indemnifying Party or such affiliate or controlling person (in which case, if such Indemnified Party notifies the Indemnifying
Parties in writing that it elects to employ separate counsel at the expense of the Indemnifying Parties, the Indemnifying Parties shall not have the right to assume the defense and the reasonable fees and expenses of such counsel shall be at the
expense of the Indemnifying Party; it being understood, however, that, the Indemnifying Party shall not, in connection with any one such proceeding or separate but substantially similar or related proceedings in the same jurisdiction, arising out of
the same general allegations or circumstances, be liable for the fees and expenses of more than one separate counsel (together with appropriate local counsel) at any time for all similarly situated Indemnified Parties). 

 

	 	(e)	Settlement of Indemnification Proceedings. No Indemnifying Party shall be liable for any settlement of any such proceeding effected without its written consent,
which shall not be unreasonably withheld, but if settled with its written consent, or if there be a final judgment for the plaintiff in any such proceeding, each Indemnifying Party jointly and severally agrees, subject to the exceptions and
limitations set forth above, to indemnify and hold harmless each Indemnified Party from and against any and all Losses by reason of such settlement or judgment. The Indemnifying Party shall not consent to the entry of any judgment or enter into any
settlement unless such judgment or settlement (i) includes as an unconditional term thereof the giving by the claimant or plaintiff to each Indemnified Party of a release, in form and substance reasonably satisfactory to the Indemnified Party,
from all liability in respect of such proceeding for which such Indemnified Party would be entitled to indemnification hereunder (whether or not any Indemnified Party is a party thereto) and (ii) does not include a statement as to or an
admission of fault, culpability or a failure to act by or on behalf of any Indemnified Party. 

  

	 	(f)	 Contribution. If the indemnification provided for in this Section 8 is unavailable to an Indemnified Party or is insufficient to hold such
Indemnified Party harmless for any Losses in respect of which this Section 8 would otherwise apply by its terms (other than by reason of exceptions provided in this Section 8), then each applicable Indemnifying Party, in lieu of
indemnifying such Indemnified Party, shall have a joint and several obligation to contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative fault of
the Indemnifying Party, on the one hand, and such Indemnified Party, on the other hand, in connection with the actions, statements or omissions that resulted in 

  
 25 

	 	
such Losses as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party, on the one hand, and Indemnified Party, on the other hand, shall be determined
by reference to, among other things, whether any 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 any such statement or omission as well as other equitable considerations. The amount paid or payable by an Indemnified Party as a result of any
Losses shall be deemed to include any legal or other fees or expenses incurred by such party in connection with any proceeding, to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in
Section 8(a) or 8(b) was available to such party. 

  

	 	(g)	Maximum Contribution Amount. The parties hereto agree that it would not be just and equitable if contribution pursuant to Section 8(f) were determined by
pro rata allocation or by other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of Section 8(f), a selling Holder shall not be
required to contribute, in the aggregate, any amount in excess of such Holder’s Maximum Contribution Amount. A selling Holder’s “Maximum Contribution Amount” shall equal the excess of (i) the aggregate proceeds
received by such Holder pursuant to the sale of such Transfer Restricted Securities or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission. 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 to contribute pursuant to Section 8(f) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Issuer’s
and Guarantor’s obligations to contribute pursuant to Section 8(f) are joint and several. 

 The
indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties. 

 

	9.	Rules 144 and 144A 

  

	 	(a)	 Information Requirements. The Issuer covenants that it shall (a) file the reports required to be filed by it (if so required) under the
Securities Act and the Exchange Act in a timely manner and, if at any time the Issuer is not required to file such reports, it will, upon the written request of any Holder of Transfer Restricted Securities, make publicly available other information
necessary to permit sales pursuant to Rule 144 and 144A and (b) take such further action as any Holder may reasonably request in writing, all to the extent required from time to time to enable such Holder to sell Transfer Restricted Securities
without 

  
 26 

	 	
registration under the Securities Act pursuant to the exemptions provided by Rule 144 and Rule 144A. Upon the request of any Holder, the Issuer shall deliver to such Holder a written statement as
to whether it has complied with such information and requirements. 

  

	 	(b)	Availability of Rule 144 Not Excuse for Obligations Under Section 2. The fact that holders of Transfer Restricted Securities may become eligible to sell
such Transfer Restricted Securities pursuant to Rule 144 shall not (i) cause such Notes to cease to be Transfer Restricted Securities or (ii) excuse the Issuer’s and the Guarantor’s obligations set forth in Section 2,
Section 3 and Section 4 of this Agreement, including without limitation the obligations in respect of an Exchange Offer, Shelf Registration Statement and Additional Interest. 

 

	10.	Underwritten Registrations of Transfer Restricted Securities 

 

	 	(a)	Selection of Investment Bankers and Managers. If any of the Transfer Restricted Securities covered by any Shelf Registration Statement are to be sold in an
underwritten offering, the investment banker or investment bankers and manager or managers that will manage the offering will be selected by the Issuer; provided, however, that such investment banker or investment bankers and manager
or managers must be reasonably acceptable to the Holders of a majority in aggregate principal amount of such Transfer Restricted Securities included in such offering. 

 

	 	(b)	Holder Participation. No Holder of Transfer Restricted Securities may participate in any underwritten registration hereunder unless such Holder (a) agrees
to sell such Holder’s Transfer Restricted Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers
of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 

  

	11.	Miscellaneous 

  

	 	(a)	Remedies. In the event of a breach (other than any breach which entitles a Holder to receive Additional Interest) by any of the Issuer and the Guarantor of any
of their obligations under this Agreement, each Holder, in addition to being entitled to exercise all rights provided herein, in the Indenture or, in the case of the Placement Agents, in the Placement Agency Agreement, or granted by law, including
recovery of damages, will be entitled to specific performance of their rights under this Agreement. The Issuer and the Guarantor agree that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by any of the
Issuer and the Guarantor of any of the provisions of this Agreement and hereby further agree that, in the event of any action for specific performance in respect of such breach, the Issuer shall (and shall cause each Guarantor to) waive the defense
that a remedy at law would be adequate. 

  
 27 

	 	(b)	No Inconsistent Agreements. The Issuer and the Guarantor have not entered, as of the date hereof, and each of the Issuer and the Guarantor shall not enter, after
the date of this Agreement, into any agreement with respect to any of their securities that is inconsistent with the rights granted to the Holders of Securities in this Agreement or otherwise conflicts with the provisions hereof. The Issuer and the
Guarantor have not entered and will not enter into any agreement with respect to any of their respective securities that will grant to any Person piggy-back rights with respect to a Registration Statement. 

 

	 	(c)	Adjustments Affecting Transfer Restricted Securities. The Issuer shall not, directly or indirectly, take any action with respect to the Transfer Restricted
Securities as a class that would adversely affect the ability of the Holders to include such Transfer Restricted Securities in a registration undertaken pursuant to this Agreement. 

 

	 	(d)	Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents to departures from the provisions
hereof may not be given, otherwise than with the prior written consent of the Holders of not less than a majority in aggregate principal amount of the then outstanding Transfer Restricted Securities in circumstances that would adversely affect any
Holders of Transfer Restricted Securities; provided, however, that Section 8 and this Section 11(d) may not be amended, modified or supplemented without the prior written consent of each Holder which is to be bound by such
amendment, modification or supplement. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders of Transfer Restricted Securities whose
securities are being tendered pursuant to the Exchange Offer or sold pursuant to a Registration Statement and that does not directly or indirectly affect, impair, limit or compromise the rights of other Holders of Transfer Restricted Securities may
be given by Holders of at least a majority in aggregate principal amount of the Transfer Restricted Securities being tendered or being sold by such Holders pursuant to such Registration Statement. 

 

	 	(e)	Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand delivery, registered first-class mail,
next-day air courier or telecopier: 

  

	 	(i)	if to a Holder of Securities or to any Participating Broker-Dealer, at the most current address of such Holder or Participating Broker-Dealer, as the case may be, set
forth on the records of the registrar of the Notes, with a copy in like manner to the Placement Agents as follows: 

  

			
	 GLOBAL HUNTER SECURITIES, LLC
 400 Poydras Street, Suite 3100
 New Orleans, Louisiana 70130

	Phone:	  	(504) 410-8017
	Facsimile:	  	(504) 212-1610
	Attention:	  	Gary Meringer, Chief In-House Counsel

  
 28 

			
	 KNIGHT CAPITAL AMERICAS, L.P.
 51 East Weaver Street
 1 Greenwich Office Park South

2nd Floor
 Greenwich, Connecticut
06831

	Telephone:	  	(203) 930-7305
	Facsimile:	  	(203) 930-7390
	Attention:	  	Kevin Donohue, Esq.

 with a copy to (which such copy shall not constitute notice): 

 

			
	 PROSKAUER ROSE LLP

11 Times Square
 New York, New York
10036

	Telephone:	  	(212) 969-3000
	Facsimile:	  	(212) 969-2900
	Attention:	  	Frank Lopez, Esq.

  

	 	(ii)	if to the Issuer or the Guarantor, as follows: 

  

			
	 PLATINUM ENERGY SOLUTIONS, INC.
 2100 W. Loop South, Suite 1601
 Houston, Texas 77027

	Telephone:	  	(713) 534-1871
	Facsimile:	  	(713) 534-1875
	Attention:	  	Chief Financial Officer

 with a copy to (which such copy shall not constitute notice): 

 

			
	 KELLEY DRYE & WARREN LLP
 333 West Wacker Drive, Suite 2600
 Chicago, Illinois 60606

	Telephone:	  	(312) 857-2630
	Facsimile:	  	(312) 857-7095
	Attention:	  	Timothy R. Lavender, Esq.

 All such notices and communications shall be deemed to have been duly given: when delivered by hand, if
personally delivered; five business days after being deposited in the United 

  
 29 

 
States mail, postage prepaid, if mailed, one business day after being deposited in the United States mail, postage prepaid, if mailed; one business day after being timely delivered to a next-day
air courier guaranteeing overnight delivery; and when receipt is acknowledged by the addressee, if telecopied. 
 Copies of all
such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee under the Indenture at the address specified in such Indenture. 

 

	 	(f)	Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the parties hereto,
including, without limitation and without the need for an express assignment, subsequent Holders of Securities. 

  

	 	(g)	Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed
shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

  

	 	(h)	Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

  

	 	(i)	Governing Law; Venue; Waiver of Jury Trial. This Agreement will be governed by and construed in accordance with the laws of the State of New York, including
without limitation Section 5-1401 of the New York General Obligations Law. No legal proceeding may be commenced, prosecuted or continued by any party hereto in any court other than the competent courts of the State of New York located in the
City and County of New York or in the United States District Court for the Southern District of New York, which courts shall have jurisdiction over the adjudication of such matters, and the parties hereto each hereby irrevocably consent to the
jurisdiction of such courts and personal service with respect thereto in respect of any suit, action or proceeding arising out of or relating to this Agreement, and irrevocably accepts for it and in respect of its property, generally and
unconditionally, jurisdiction of the aforesaid courts. Each of the parties hereto irrevocably consent, to the fullest extent it may effectively do so under applicable law, to the service of process of any of the aforementioned courts in any such
action or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, return receipt requested, to it at its address indicated in the notice provisions of this Agreement, such service to become effective 30 days
after such mailing. Each of the parties hereto irrevocably waive, to the fullest extent it may effectively do so under applicable law, trial by jury and any objection that it may now or hereafter have to the laying of venue of any such suit, action
or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. The parties hereto agree that a final judgment in any such legal proceeding brought
in any such court shall be conclusive and binding upon the parties hereto and may be enforced in any other courts in the jurisdiction of which such parties are or may be subject, by suit upon such judgment. 

  
 30 

	 	(j)	Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or
unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their reasonable best
efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that
they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

 

	 	(k)	Securities Held by the Issuer or Its Affiliates. Whenever the consent or approval of Holders of a specified percentage of Securities is required hereunder,
Securities held by the Issuer or its affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage.

  

	 	(l)	Third Party Beneficiaries. Holders and Participating Broker-Dealers are intended third party beneficiaries of this Agreement and this Agreement may be enforced
by such Persons. 

  

	 	(m)	Entire Agreement. This Agreement, together with the Placement Agency Agreement, the Purchase Agreement, the Warrant Agreement, the Indenture and the Security
Documents, is intended by the parties as a final and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein and any and all prior oral or written agreements,
representations, or warranties, contracts, understanding, correspondence, conversations and memoranda between the Placement Agents on the one hand and the Issuer and the Guarantor on the other, or between or among any agents, representatives,
parents, subsidiaries, affiliates, predecessors in interest or successors in interest with respect to the subject matter hereof and thereof are merged herein and replaced hereby. 

  
 31 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

					
	PLATINUM ENERGY SOLUTIONS, INC.
		
	By:	 	 /s/ J. Clarke Legler, II

		 	Name:	 	 J. Clarke Legler, II

		 	Title:	 	 Chief Financial Officer

	
	PLATINUM PRESSURE PUMPING, INC.
		
	By:	 	 /s/ J. Clarke Legler, II

		 	Name:	 	 J. Clarke Legler, II

		 	Title:	 	 Chief Financial Officer

 Registration Rights Agreement 

 
					
	Accepted and agreed to:
	
	GLOBAL HUNTER SECURITIES, LLC
		
	By:	 	 /s/ Richard A. Goldenberg

		 	Name:	 	 Richard A. Goldenberg

		 	Title:	 	 Head of Global Debt Capital Markets

	
	KNIGHT CAPITAL AMERICAS, L.P.
		
	By:	 	 /s/ David A. Barcus

		 	Name:	 	 David A. Barcus

		 	Title:	 	 Managing Director

 Registration Rights AgreementWarrant Agreement

 Exhibit 4.5 
 EXECUTION VERSION 
  

 
 WARRANT AGREEMENT 

Dated as of March 3, 2011 
 between 
 PLATINUM ENERGY SOLUTIONS, INC. 

and 
 THE BANK OF
NEW YORK MELLON TRUST COMPANY, N.A., 
 as Warrant Agent 
 Warrants to Purchase 
 Shares of Common Stock 

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	Section 1.	  	Certain Definitions	  	 	1	  
			
	Section 2.	  	Appointment of Warrant Agent	  	 	8	  
			
	Section 3.	  	Issuance of Warrants; Warrant Certificates	  	 	8	  
	             3.1.	  	Form and Dating	  	 	8	  
	             3.2.	  	Execution	  	 	9	  
	             3.3.	  	Warrant Registrar and Depositary	  	 	9	  
	             3.4.	  	Holder Lists	  	 	10	  
	             3.5.	  	Transfer and Exchange	  	 	10	  
	             3.6.	  	Replacement Warrants	  	 	22	  
	             3.7.	  	Temporary Warrants	  	 	22	  
	             3.8.	  	Cancellation	  	 	22	  
			
	Section 4.	  	Separation of Warrants; Exercise of Warrants; Terms of Warrants	  	 	23	  
	             4.1.	  	Separation Date	  	 	23	  
	             4.2.	  	Exercising Warrants	  	 	23	  
	             4.3.	  	Delivery of Warrant Share Certificates	  	 	24	  
	             4.4.	  	Partial Exercise of Warrants Held	  	 	24	  
	             4.5.	  	Cancelled Warrant Certificates	  	 	24	  
	             4.6.	  	Copies for Inspection	  	 	24	  
	             4.7.	  	Liquidation and Assets	  	 	24	  
			
	Section 5.	  	Payment of Taxes	  	 	25	  
			
	Section 6.	  	Reservation of Warrant Shares; Registration of Warrant Shares	  	 	25	  
	             6.1.	  	Authorization of Shares	  	 	25	  
	             6.2.	  	Responsibility for Authorization	  	 	25	  
	             6.3.	  	Warrants Free and Clear	  	 	25	  
			
	Section 7.	  	Obtaining Stock Exchange Listings	  	 	25	  
			
	Section 8.	  	Adjustment of Exercise Price and Number of Warrant Shares Issuable	  	 	26	  
	             8.1.	  	Adjustment for Change in Capital Stock	  	 	26	  
	             8.2.	  	Liquidity Event	  	 	26	  
	             8.3.	  	Par Value of Shares of Common Stock	  	 	26	  
	             8.4.	  	Reorganization of Company	  	 	27	  
	             8.5.	  	Adjustment in Number of Shares	  	 	27	  
	             8.6.	  	Form of Warrants	  	 	27	  
	             8.7.	  	Challenge to Good Faith Determination	  	 	27	  
	             8.8.	  	Actions by the Company	  	 	28	  
			
	Section 9.	  	Fractional Interests	  	 	28	  

  
 i 

							
	Section 10.	  	Piggy-Back Registration	  	 	28	  
	             10.1.	  	Piggy-Back Registration Rights	  	 	28	  
	             10.2.	  	Inclusion in Registered Offering; Withdrawal	  	 	29	  
	             10.3.	  	Payment of Registration Expenses	  	 	29	  
	             10.4.	  	Underwriter Cut-Back; Priority in Piggy-Back Registrations	  	 	29	  
	             10.5.	  	Underwriter Cut-Back; Shelf Registration Rights	  	 	30	  
	             10.6.	  	Market Stand Off	  	 	30	  
			
	Section 11.	  	Registration Procedures	  	 	30	  
	             11.1.	  	Responsibilities of the Company	  	 	30	  
	             11.2.	  	Information Required by the Company	  	 	36	  
	             11.3.	  	Requests by the Holder	  	 	36	  
	             11.4.	  	Indemnification	  	 	36	  
			
	Section 12.	  	Notices to Warrant Holders	  	 	37	  
	             12.1.	  	Notice of Adjustment in Exercise Price	  	 	37	  
	             12.2.	  	Notice of Specific Events	  	 	37	  
			
	Section 13.	  	Merger, Consolidation or Change of Name of Warrant Agent	  	 	38	  
	             13.1.	  	Merger or Consolidation	  	 	38	  
	             13.2.	  	Change of Name	  	 	39	  
			
	Section 14.	  	Warrant Agent	  	 	39	  
	             14.1.	  	Terms and Conditions to Warrant Agent’s Duties and Obligations	  	 	39	  
			
	Section 15.	  	Change of Warrant Agent	  	 	42	  
			
	Section 16.	  	Reports	  	 	43	  
	             16.1.	  	Available Upon Request of Holder	  	 	43	  
	             16.2.	  	Copies to the Warrant Agent	  	 	43	  
			
	Section 17.	  	CUSIP Numbers	  	 	43	  
			
	Section 18.	  	Notices to Company and Warrant Agent	  	 	43	  
			
	Section 19.	  	Supplements and Amendments	  	 	44	  
			
	Section 20.	  	Successors	  	 	45	  
			
	Section 21.	  	Termination	  	 	45	  
			
	Section 22.	  	Governing Law	  	 	45	  
	             22.1.	  	State of New York	  	 	45	  
	             22.2.	  	Jurisdiction	  	 	45	  
			
	Section 23.	  	Benefits of This Agreement	  	 	45	  
			
	Section 24.	  	Counterparts	  	 	45	  

  
 ii 

							
			
	EXHIBIT A	  	FORM OF WARRANT CERTIFICATE	  	 	A-1	  
			
	EXHIBIT B	  	FORM OF SEPARATION NOTICE	  	 	B-1	  
			
	EXHIBIT C	  	[RESERVED]	  	 	C-1	  
			
	EXHIBIT D	  	PLATINUM ENERGY SOLUTIONS, INC. WARRANT COUNTERSIGNATURE ORDER	  	 	D-1	  
			
	EXHIBIT E	  	FORM OF CERTIFICATE OF TRANSFER	  	 	E-1	  
			
	EXHIBIT F	  	FORM OF CERTIFICATE OF EXCHANGE	  	 	F-1	  
			
	EXHIBIT G	  	FORM OF CERTIFICATE FROM ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR	  	 	G-1	  

  
 iii

 This WARRANT AGREEMENT, dated as of March 3, 2011 (this “Agreement”),
is made by and between PLATINUM ENERGY SOLUTIONS, INC., a Nevada corporation (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as warrant agent (in such capacity, the “Warrant Agent”).

 WHEREAS, the Company proposes to initially issue 115,000 warrants (the “Warrants”) to purchase shares of
Common Stock of the Company (the Common Stock, together with such other capital stock and securities, assets (including cash) and other property that may become issuable upon exercise of the Warrants being referred to herein as the “Warrant
Shares”), each Warrant initially representing the right to purchase shares of Common Stock representing in the aggregate 15% of the outstanding shares of the Company’s common stock on a fully-diluted basis, as of immediately following
the consummation of the Offering (the “Offering”) by the Company of 115,000 units (the “Units”), each Unit consisting of (i) $1,000 principal amount at maturity of the 14.250% Senior Secured Notes due 2015 of
the Company (the “Notes”) and (ii) one Warrant, and the Concurrent Equity Offering (as defined below), subject to adjustment; 
 WHEREAS, the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing so to act in connection with the issuance of Warrant Certificates (as defined below) and
other matters as provided herein; 
 NOW, THEREFORE, the parties hereto agree as follows: 

Section 1. Certain Definitions. 
 As used in this Agreement, the following terms shall have the following respective meanings: 
 “Affiliate” of any specified Person means (a) any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified
Person and (b) any director or Officer of such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise; provided, that beneficial ownership of 10% or more of the voting stock of a Person shall be deemed to be
control. For purposes of this definition, the terms “controlling,” “controlled by” and “under common control with” have correlative meanings. 
 “Agreement” shall have the meaning given to such term in the preamble. 
 “Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global Warrant, the rules and procedures of the Depositary and Euroclear and
Clearstream, as applicable, that apply to such transfer or exchange. 
 “Board of Directors” means, as to any
Person, the board of directors or similar governing body of such Person or any duly authorized committee thereof. 

“Business Day” means any day other than a Legal Holiday. 

 “Cashless Exercise Ratio” means a ratio equal to a fraction, the numerator
of which is the Fair Market Value per share of Common Stock (or such other Warrant Share issuable upon exercise of a Warrant in accordance with the terms of this Agreement) on the date of exercise minus the Exercise Price per share of Common
Stock on the date of exercise, and the denominator of which is the Fair Market Value per share of Common Stock on the date of exercise. 
 “Change of Control” shall have the meaning given to such term in the Indenture. 
 “Clearstream” means Clearstream Banking, S.A. 
 “Common
Stock” means the common stock, par value $0.001 per share, of the Company and any shares now or hereafter authorized of any class of common shares of the Company however designated, that has the right (subject to any prior rights of any
class or series of preferred stock) to participate in any distribution of the assets or earnings of the Company without limit as to per share amount. 
 “Company” shall have the meaning given to such term in the preamble. 
 “Company Indemnified Parties” shall have the meaning given to such term in Section 11.4(b). 
 “Concurrent Equity Offering” means the issuance and sale of units of the Company’s Series A preferred stock and common stock in a private placement to a limited number of equity
investors. 
 “Definitive Warrant” means a Warrant Certificate issued in registered form as a definitive
Warrant Certificate. 
 “Depositary” means, with respect to the Warrants issuable or issued in whole or in part
in global form, the Person specified in Section 3.3 hereof as the Depositary with respect to the Warrants, and any and all successors thereto appointed as Depositary hereunder and having become such pursuant to the applicable provision
of this Agreement. 
 “DTC” means The Depository Trust Company. 

“Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear system. 

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

“Exercise Period” means the period commencing with the Separation Date and ending on the Expiration Date. 

“Exercise Price” means $0.01 per Warrant Share, as adjusted as herein provided. 

“Expiration Date” means 5:00 p.m., New York City time, on February 28, 2018. 

  
 2 

 “Fair Market Value” per share of Common Stock as of any date shall equal
(i) if the Common Stock is primarily traded on a securities exchange, the last sale price of such Common Stock on such securities exchange on the trading day immediately prior to such date, or if no sale occurred on such day, the mean between
the closing “bid” and “asked” prices on such day, (ii) if the principal market for the Common Stock is in the over-the-counter market, the closing sale price of such Common Stock on the trading day immediately prior to such
date, as published by the National Association of Securities Dealers Automated Quotation System or similar organization, or if such price is not so published on such day, the mean between the closing “bid” and “asked” prices, if
available, on such day, which prices may be obtained from any reputable pricing service, broker or dealer reasonably satisfactory to the Company and (iii) if neither clause (i) nor clause (ii) is applicable, the fair
market value of a share of Common Stock on such date as determined in good faith by the Board of Directors of the Company; provided, that if shares of Common Stock have been sold in arms-length transactions by the Company within the 90-day
period prior to the determination of Fair Market Value, the Fair Market Value determined pursuant to this clause (iii) shall not be less than the highest price paid for such shares during such period. 

“FINRA” means the Financial Industry Regulatory Authority. 

“Global Warrants” means, individually and collectively, each of the Restricted Global Warrants and the Unrestricted
Global Warrants, substantially in the form of Exhibit A hereto issued in accordance with Section 3.1(b) and 3.5 hereof. 
 “Global Warrant Legend” means the legend set forth in Section 3.5(f)(ii), which is required to be placed on all Global Warrants issued under this Agreement. 

“Holder” means any registered holder of a Warrant. 

“IAI Global Warrant” means a Global Warrant substantially in the form of Exhibit A hereto sold to
Institutional Accredited Investors and bearing the Global Warrant Legend and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee. 

“Indenture” means the indenture, dated as of March 3, 2011 by and among the Company, the guarantors named therein
and The Bank of New York Mellon Trust Company, N.A., as Trustee and as collateral agent, relating to the Notes. 

“Indirect Participant” means a Person who holds a beneficial interest in a Global Warrant through a Participant.

 “Inspectors” shall have the meaning given to such term in Section 11(m). 

“Institutional Accredited Investor” means an institution that is an “accredited investor” as defined in Rule
501(a)(1), (2), (3) or (7) under the Securities Act, which is not also a QIB. 
 “Joinder to the Stockholders
Agreement” means a joinder to the Stockholders Agreement executed by a Holder upon exercise of a Warrant, in the form of Exhibit A hereto pursuant to which each such Holder of a Warrant will become subject to the representations,
warranties, covenants and other provisions applicable to the stockholders signatory thereto. 

  
 3 

 “Legal Holiday” means a Saturday, a Sunday or a day on which banking
institutions in the City of New York, the city in which the corporate trust office of the Warrant Agent is located or at a place of payment are authorized by law, regulation or executive order to remain closed. If a payment date is a Legal Holiday
at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue on such payment for the intervening period. 

“Liquidity Event” shall have the meaning given to such term in the Indenture. 

“Majority Holders” shall have the meaning given to such term in Section 8.7. 

“Management Common Stock” means the outstanding shares of Common Stock other than (i) shares of Common Stock that
were issued as a unit together with shares of the Company’s Series A Preferred Stock pursuant to the Concurrent Equity Offering, (ii) shares of Common Stock issued upon exercise of Warrants, and (iii) shares of Common Stock (or
securities convertible into Common Stock) issued after the date hereof to Persons that are not employees, Officers or directors (or Affiliates thereof) of the Company (excluding any issuances under the Company’s stock option plan). 

“Non-U.S. Person” means any Person other than a U.S. Person. 

“Notes” shall have the meaning given to such term in the recitals to this Agreement. 

“Officer” means, with respect to any Person, the chief executive officer, the president, the chief financial officer,
any vice president or the treasurer of such Person. 
 “Offering” shall have the meaning given to such term in
the recitals to this Agreement. 
 “Opinion of Counsel” means an opinion from legal counsel who is reasonably
acceptable to the Warrant Agent, in form and substance reasonably acceptable to the Warrant Agent. The counsel may without limitation be an employee of or counsel to the Company or any Subsidiary of the Company. 

“Participant” means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the
Depositary, Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream). 

“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization, limited liability company or government or other entity. 
 “Piggy-Back
Registration” shall have the meaning given to such term in Section 10.1. 
 “Placement
Agents” means Global Hunter Securities, LLC and Knight Capital Americas, L.P. 

  
 4 

 “Private Placement Legend” means the legend set forth in
Section 3.5(f)(i) to be placed on all Warrants issued under this Agreement except where otherwise permitted by the provisions of this Agreement. 
 “Prospectus” means the prospectus included in a Registration Statement at the time such Registration Statement is declared effective, as amended or supplemented by any prospectus
supplement and by all other amendments thereto, including post-effective amendments, and all material incorporated by reference into such prospectus. 
 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 
 “QIB Global Warrant” means a Global Warrant substantially in the form of Exhibit A hereto sold in reliance on Section 4(2) of the Securities Act and bearing the Global
Warrant Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee. 
 “Registrable Security” means (i) the Warrant Shares (whether or not the related Warrants have been exercised) and (ii) any other securities issued or issuable with respect to
the Warrants or Warrant Shares by way of Common Stock dividend or split of Common Stock or in connection with a combination of Common Stock, recapitalization, merger, consolidation or other reorganization, including, without limitation, a conversion
by the Company into a corporation, or otherwise. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when: 
 (a) a Registration Statement with respect to the offering of such securities by the holder thereof shall have been declared effective under the Securities Act and such securities shall have been disposed
of by such holder pursuant to such Registration Statement, (b) such securities are freely transferable without registration or limitation under Rule 144 (or any similar provisions then in force, but not Rule 144A) promulgated under the
Securities Act, (c) such securities shall have been otherwise transferred by the holder thereof and new certificates for such securities not bearing a legend restricting further transfer shall have been delivered by the Company or its transfer
agent and subsequent disposition of such securities shall not require registration or qualification under the Securities Act or any similar state law then in force, or (d) such securities shall have ceased to be outstanding. 

“Registration Expenses” means all expenses incident to the Company’s performance of or compliance with Sections
10 and 11 of this Agreement regardless of whether a Registration Statement becomes effective, including, without limitation, (a) all SEC, stock exchange and FINRA registration and filing fees and expenses, (b) fees and expenses
of compliance with securities or “blue sky” laws (including, without limitation, reasonable fees and disbursements of counsel for the underwriters in connection with “blue sky” qualifications of the Registrable Securities),
(c) fees and expenses of preparing, printing, filing, duplicating and distributing the Registration Statement and the related Prospectus, (d) the cost of printing stock certificates, (e) the cost and charges of any transfer agent and
rating agency fees, (f) printing, messenger, telephone and delivery expenses, (g) fees and disbursements of counsel for the Company and all independent certified public accountants, (h) the fees and disbursements of underwriters

  
 5 

 
customarily paid by issuers or sellers of securities (but not including any underwriting discounts or commissions or transfer taxes, if any, attributable to the sale of Registrable Securities by
Selling Holders) and (i) reasonable fees and expenses of one counsel for all Selling Holders. In no event shall the Company be responsible for any broker or similar commissions of any Selling Holders, or to the extent provided herein, any legal
fees or other costs of the Selling Holders. 
 “Registration Statement” means any registration statement of the
Company relating to the registration for resale of Registrable Securities that is filed pursuant to the provisions of this Agreement and including the Prospectus included therein, all amendments and supplements thereto (including post-effective
amendments) and all exhibits and all material incorporated by reference therein. 
 “Regulation S” means
Regulation S promulgated under the Securities Act. 
 “Regulation S Global Warrant” means, prior to the
expiration of the Restricted Period, the Regulation S Temporary Global Warrant, and after the expiration of the Restricted Period, the Regulation S Permanent Global Warrant. 
 “Regulation S Permanent Global Warrant” means a permanent Global Warrant in the form of Exhibit A hereto bearing the Global Warrant Legend, the Private Placement Legend and the
Regulation S Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination equal to the number of Warrants represented by the Regulation S Temporary Global Warrant upon expiration of
the Restricted Period. 
 “Regulation S Temporary Global Warrant” means a temporary Global Warrant in the form
of Exhibit A hereto deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination equal to the number of Warrants initially sold in reliance on Rule 903 of Regulation S. 

“Regulation S Legend” means the legend set forth in Section 3.5(f)(iv) to be placed on all Regulation S
Global Warrants issued pursuant to Regulation S. 
 “Resale Restriction Termination Date” shall have the
meaning given to such term in Section 3.5(f)(i)(A). 
 “Restricted Definitive Warrant” means a
Definitive Warrant bearing the Private Placement Legend. 
 “Restricted Global Warrant” means a Global Warrant
bearing the Private Placement Legend. 
 “Rule 144” means Rule 144 promulgated under the Securities Act.

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

“Rule 903” means Rule 903 promulgated under the Securities Act. 

“Rule 904” means Rule 904 promulgated under the Securities Act. 

  
 6 

 “SEC” means the United States Securities and Exchange Commission.

 “Securities Act” means the U.S. Securities Act of 1933, as amended. 

“Selling Holder” means a Holder of Warrants who is selling Registrable Securities in accordance with the provisions of
this Agreement. 
 “Selling Holder Indemnified Parties” shall have the meaning given to such term in
Section 11.4(a). 
 “Separation Date” means the earliest to occur of (i) the date that is 30 days
after the closing of the offering of the Units, and (ii) such date as either of Global Hunter Securities, LLC or Knight Capital Americas, L.P. shall determine. In the case of clause (ii) above, notice of such date shall be provided
to the Warrant Agent and the Trustee in writing and be in the form of Exhibit B. The Warrant Agent shall transmit such notice received to DTC. 
 “Stockholders Agreement” means that certain stockholders agreement, dated as of March 3, 2011, by and among the Company and the stockholders signatory thereto, as amended from time
to time. 
 “Subsidiary” has the meaning given to such term in the Indenture. 

“Transfer Agent” shall have the meaning given to such term in Section 6(b). 

“Trustee” has the meaning given to such term in the Indenture. 

“Units” shall have the meaning given to such term in the recitals to this Agreement. 

“Unrestricted Definitive Warrant” means one or more Definitive Warrants that do not bear and are not required to bear
the Private Placement Legend. 
 “Unrestricted Global Warrant” means a Global Warrant that does not bear the
Private Placement Legend. 
 “U.S. Person” means a “U.S. Person” as defined in Rule 902(k) under the
Securities Act. 
 “Warrant Agent” shall have the meaning given to such term in the preamble. 

“Warrant Certificate” shall have the meaning given to such term in Section 3.1(a). 

“Warrant Countersignature Order” shall have the meaning given to such term in Section 3.2 and substantially
in the form of Exhibit D hereto. 
 “Warrant Paying Agent” means an office or agency where Warrants may
be presented for surrender. The Company initially appoints the Warrant Agent to act as Warrant Paying Agent. 
 “Warrant
Registrar” shall have the meaning given to such term in Section 3.3(a). 

  
 7 

 “Warrant Shares” shall have the meaning given to such term in the recitals
to this Agreement. 
 “Warrants” shall have the meaning given to such term in the preamble. 

Section 2. Appointment of Warrant Agent. 
 The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the instructions set forth hereinafter in this Agreement, and the Warrant Agent hereby accepts such
appointment pursuant to the terms and conditions of this Agreement. 
 Section 3. Issuance of Warrants; Warrant
Certificates. 
 3.1. Form and Dating. 
 (a) General. The Warrants shall be substantially in the form of Exhibit A hereto (each, a “Warrant Certificate”). The Warrant Certificates may have notations, legends or
endorsements required by law, stock exchange rule or usage. Each Warrant Certificate shall be dated the date of the countersignature. 
 The terms and provisions contained in the Warrants shall constitute, and are hereby expressly made, a part of this Agreement. The Company and the Warrant Agent, by their execution and delivery of this
Agreement, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Warrant Certificate conflicts with the express provisions of this Agreement, the provisions of this Agreement shall govern
and be controlling. 
 (b) Global Warrants. Warrants issued in global form shall be substantially in the form of
Exhibit A hereto (including the Global Warrant Legend thereon). Warrants issued in definitive form shall be substantially in the form of Exhibit A hereto (but without the Global Warrant Legend thereon). Each Global Warrant shall
represent such of the outstanding Warrants as shall be specified therein and each shall provide that it shall represent the number of outstanding Warrants from time to time endorsed thereon and that the number of outstanding Warrants represented
thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges and redemptions. Any endorsement of a Global Warrant to reflect the amount of any increase or decrease in the number of outstanding Warrants represented
thereby shall be made by the Warrant Agent in accordance with written instructions given by the Holder thereof as required by Section 3.5 hereof. 
 (c) Regulation S Warrants. Warrants offered and sold in reliance on Regulation S will be issued initially in the form of the Regulation S Temporary Global Warrant, which will be deposited on behalf
of the purchasers of the Warrants represented thereby with the Warrant Agent as custodian for the Depositary, and registered in the name of the Depositary or the nominee of the Depositary for the accounts of designated agents holding on behalf of
Euroclear or Clearstream, duly executed by the Company and authenticated by the Trustee as hereinafter provided. 

  
 8 

 Following the expiration of the Restricted Period, beneficial interests in the Regulation S
Temporary Global Warrant will be exchanged for beneficial interests in the Regulation S Permanent Global Warrant pursuant to the Applicable Procedures. Upon the expiration of the Restricted Period, the Warrant Agent will cancel the Regulation S
Temporary Global Warrant. The number of Warrants represented by the Regulation S Temporary Global Warrant and the Regulation S Permanent Global Warrant may from time to time be increased or decreased by adjustments made on the records of the Trustee
and the Depositary or its nominee, as the case may be, in connection with transfers of interest as hereinafter provided. 
 (d)
Euroclear and Clearstream Procedures Applicable. The provisions of the “Operating Procedures of the Euroclear System” and “Terms and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of
Clearstream Banking” and “Customer Handbook” of Clearstream or any successor provisions created by Euroclear or Clearstream, as applicable, shall be applicable to transfers of beneficial interests in the Regulation S Global Warrant
that are held by Participants through Euroclear or Clearstream. 
 3.2. Execution. 

An Officer shall sign the Warrant Certificates on behalf of the Company by manual or facsimile signature. 

If the Officer whose signature is on a Warrant Certificate no longer holds that office at the time a Warrant Certificate is
countersigned, the Warrant Certificate shall nevertheless be valid. 
 A Warrant Certificate shall not be valid until
countersigned by the manual signature of the Warrant Agent. The signature shall be conclusive evidence that the Warrant Certificate has been properly issued under this Agreement. 

The Warrant Agent shall, upon a written order of the Company signed by an Officer (a “Warrant Countersignature Order”),
substantially in the form of Exhibit D hereto, countersign Warrant Certificates representing 115,000 Warrants for original issue. 
 The Warrant Agent may appoint an agent acceptable to the Company to countersign Warrant Certificates. Such an agent may countersign Warrant Certificates whenever the Warrant Agent may do so. Each
reference in this Agreement to a countersignature by the Warrant Agent includes a countersignature by such agent. Such an agent has the same rights as the Warrant Agent to deal with the Company or an Affiliate of the Company. 

3.3. Warrant Registrar and Depositary. 
 (a) So long as any of the Warrants remain outstanding, the Company will designate and maintain: (i) an office or agency where the Warrant Certificates may be presented for exercise, (ii) an
office or agency where the Warrant Certificates may be presented for registration of transfer and for exchange (including the exchange of temporary Warrant Certificates for Definitive Warrants pursuant to Section 3.5 hereof) and
(iii) an office or agency where notices and demands to or upon the Company in respect of the Warrants or this Agreement may be served (the “Warrant Registrar”). The Warrant Registrar shall keep a register

  
 9 

 
of the Warrants and of their transfer and exchange. The Company may appoint one or more co-Warrant Registrars. The term “Warrant Registrar” includes any co-Warrant Registrar. The
Company may change any Warrant Registrar without notice to any Holder. The Company shall notify the Warrant Agent in writing of the name and address of any agent not a party to this Agreement. If the Company fails to appoint or maintain another
entity as Warrant Registrar, the Warrant Agent shall act as such. The Company or any of its Subsidiaries may act as Warrant Registrar. 
 (b) In addition to such office or offices or agency or agencies, the Company may from time to time designate and maintain one or more additional offices or agencies within or outside of New York, where
Warrant Certificates may be presented for exercise or for registration of transfer or for exchange, and the Company may from time to time change or rescind such designation, as it may deem desirable or expedient. The Company will give to the Warrant
Agent written notice of the location of any such office or agency and of any change of location thereof. The Company hereby designates the Warrant Agent’s office, as the initial agency maintained for each such purpose. 

(c) The Company initially appoints the Warrant Agent to act as the Warrant Registrar and custodian with respect to the Global Warrants.

 (d) The Company initially appoints DTC to act as Depositary with respect to the Global Warrants. 

3.4. Holder Lists. 
 The Warrant Agent shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of all record Holders of Warrants. If the Warrant Agent
is not the Warrant Registrar, the Company shall promptly furnish to the Warrant Agent at such times as the Warrant Agent may request in writing, a list in such form and as of such date as the Warrant Agent may reasonably require of the names and
addresses of the Holders as set forth in the Company’s books and records. 
 3.5. Transfer and Exchange. 

(a) Transfer and Exchange of Global Warrants. A Global Warrant may not be transferred as a whole except by the Depositary to a
nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor Depositary. All Global Warrants
shall be exchanged by the Company for Definitive Warrants if (i) the Company delivers to the Warrant Agent written notice from the Depositary that it is unwilling or unable to continue to act as Depositary or that it is no longer a clearing
agency registered under the Exchange Act and, in either case, a successor Depositary is not appointed by the Company within 90 days after the date of such notice from the Depositary or (ii) the Company in its sole discretion determines that the
Global Warrants (in whole but not in part) should be exchanged for Definitive Warrants and delivers a written notice to such effect to the Warrant Agent. Upon the occurrence of either of the preceding events in (i) or (ii) above,
Definitive Warrants shall be issued in such names as the Depositary shall instruct the Warrant Agent in writing. Global 

  
 10 

 
Warrants also may be exchanged or replaced, in whole or in part, as provided in Sections 3.6 and 3.7 hereof. A Global Warrant may not be exchanged for another Warrant other than as
provided in this Section 3.5(a), however, beneficial interests in a Global Warrant may be transferred and exchanged as provided in Section 3.5(b) or (c) hereof. 

(b) Transfer and Exchange of Beneficial Interests in the Global Warrants. The transfer and exchange of beneficial interests in the
Global Warrants shall be effected through the Depositary, in accordance with the provisions of this Agreement and the Applicable Procedures. Beneficial interests in the Restricted Global Warrants shall be subject to restrictions on transfer
comparable to those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Warrants also shall require compliance with either subparagraph (i) or (ii) below, as
applicable, as well as one or more of the other following subparagraphs, as applicable: 
 (i) Transfer of
Beneficial Interests in the Same Global Warrant. Beneficial interests in any Restricted Global Warrant may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Warrant in
accordance with the transfer restrictions set forth in the Private Placement Legend. Beneficial interests in any Unrestricted Global Warrant may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an
Unrestricted Global Warrant. No written orders or instructions shall be required to be delivered to the Warrant Registrar to effect the transfers described in this Section 3.5(b)(i). 

(ii) All Other Transfers and Exchanges of Beneficial Interests in Global Warrants. In connection with all transfers
and exchanges of beneficial interests that are not subject to Section 3.5(b)(i) above, the transferor of such beneficial interest must deliver to the Warrant Registrar both (A)(1) a written order from a Participant or an Indirect
Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Warrant in an amount equal to the beneficial interest to be
transferred or exchanged and (2) written instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase or both (B)(1) a written order from a
Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Warrant in an amount equal to the beneficial interest to be transferred or
exchanged and (2) written instructions given by the Depositary to the Warrant Registrar containing information regarding the Person in whose name such Definitive Warrant shall be registered. Upon satisfaction of all of the requirements for
transfer or exchange of beneficial interests in Global Warrants contained in this Agreement and the Warrants or otherwise applicable under the Securities Act, the Warrant Agent shall adjust the number of the relevant Global Warrant(s) pursuant to
Section 3.5(g) hereof. 
 (iii) Transfer of Beneficial Interests to Another Restricted Global
Warrant. A beneficial interest in any Restricted Global Warrant may be 

  
 11 

 
transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Warrant if the transfer complies with the requirements of
Section 3.5(b)(ii) above and the Warrant Registrar receives the following: 
 (A) if the transferee
will take delivery in the form of a beneficial interest in the QIB Global Warrant, then the transferor must deliver a certificate in the form of Exhibit E hereto, including the certifications in item (1) thereof; and 

(B) if the transferee will take delivery in the form of a beneficial interest in the Regulation S Global Warrant, then
the transferor must deliver a certificate in the form of Exhibit E hereto, including the certifications in item (2) thereof; and 
 (C) if the transferee will take delivery in the form of a beneficial interest in the IAI Global Warrant, then the transferor must deliver a certificate in the form of Exhibit E hereto, including
the certifications and certificates and Opinion of Counsel required by item (3) thereof, if applicable. 

Beneficial interests in an Unrestricted Global Warrant cannot be exchanged for, or transferred to Persons who take delivery thereof in
the form of a beneficial interest in a Restricted Global Warrant. 
 (iv) Transfer and Exchange of Beneficial
Interests in a Restricted Global Warrant for Beneficial Interests in the Unrestricted Global Warrant. A beneficial interest in any Restricted Global Warrant may be exchanged by any holder thereof for a beneficial interest in an Unrestricted
Global Warrant or transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Warrant if the exchange or transfer complies with the requirements of Section 3.5(b)(ii) above and the Warrant
Registrar receives the following: 
 (A) if the holder of such beneficial interest in a Restricted Global
Warrant proposes to exchange such beneficial interest for a beneficial interest in an Unrestricted Global Warrant, a certificate from such holder in the form of Exhibit F hereto, including the certifications in item
(1)(a) thereof; or 
 (B) if the holder of such beneficial interest in a Restricted Global Warrant
proposes to transfer such beneficial interest to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Warrant, a certificate from such holder in the form of Exhibit E hereto, including
the certifications in item (4) thereof; 
 and, in each such case set forth in this subparagraph (iv), if the
Warrant Registrar or the Company so requests or if the Applicable Procedures so require, an 

  
 12 

 
Opinion of Counsel in form reasonably acceptable to the Warrant Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on
transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 If any such transfer is effected pursuant to subparagraph (iv) above at a time when an Unrestricted Global Warrant has not yet been issued, the Company shall issue and, upon receipt of a
Warrant Countersignature Order in accordance with Section 3.2 hereof, the Warrant Agent shall countersign one or more Unrestricted Global Warrants in the number equal to the number of beneficial interests transferred pursuant to
subparagraph (iv) above. 
 (c) Transfer and Exchange of Beneficial Interests for Definitive Warrants.

 (i) Beneficial Interests in Restricted Global Warrants to Restricted Definitive Warrants. If any holder
of a beneficial interest in a Restricted Global Warrant proposes to exchange such beneficial interest for a Restricted Definitive Warrant or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted
Definitive Warrant, then, upon receipt by the Warrant Registrar of the following documentation: 
 (A) if the
holder of such beneficial interest in a Restricted Global Warrant proposes to exchange such beneficial interest for a Restricted Definitive Warrant, a certificate from such holder in the form of Exhibit F hereto, including the certifications
in item (2)(a) thereof; 
 (B) if such beneficial interest is being transferred to a QIB in
accordance with Rule 144A under the Securities Act, a certificate to the effect set forth in Exhibit E hereto, including the certifications in item (1) thereof; 

(C) if such beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with
Rule 903 or Rule 904 of Regulation S under the Securities Act, a certificate to the effect set forth in Exhibit E hereto, including the certifications in item (2) thereof; 

(D) if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the
Securities Act in accordance with Rule 144 under the Securities Act, a certificate to the effect set forth in Exhibit E hereto, including the certifications in item (3)(a) thereof; 

(E) if such beneficial interest is being transferred to an Institutional Accredited Investor in reliance on an exemption
from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit E hereto, including the certifications,
certificates and Opinion of Counsel required by item (3) thereof, if applicable; or 

  
 13 

 (F) if such beneficial interest is being transferred to the Company or any
of its Subsidiaries, a certificate to the effect set forth in Exhibit E hereto, including the certifications in item (3)(b) thereof; 
 the Warrant Agent shall cause, in accordance with the standing instructions and procedures existing between the Depositary and the Warrant Agent, the number of Warrants represented by the Global Warrant
to be reduced by the number of Warrants to be represented by the Definitive Warrant pursuant to Section 3.5(g) hereof, and the Company shall execute and the Warrant Agent shall countersign and deliver to the Person designated in the
instructions a Definitive Warrant in the appropriate amount. Any Definitive Warrant issued in exchange for a beneficial interest in a Restricted Global Warrant pursuant to this Section 3.5(c) shall be registered in such name or names as
the holder of such beneficial interest shall instruct the Warrant Registrar through written instructions from the Depositary and the Participant or Indirect Participant. The Warrant Agent shall deliver such Definitive Warrants to the Persons in
whose names such Warrants are so registered. Any Definitive Warrant issued in exchange for a beneficial interest in a Restricted Global Warrant pursuant to this Section 3.5(c)(i) shall bear the Private Placement Legend and shall be
subject to all restrictions on transfer contained therein. 
 (ii) Beneficial Interests in Restricted Global
Warrants to Unrestricted Definitive Warrants. A holder of a beneficial interest in a Restricted Global Warrant may exchange such beneficial interest for an Unrestricted Definitive Warrant or may transfer such beneficial interest to a Person who
takes delivery thereof in the form of an Unrestricted Definitive Warrant only if the Warrant Registrar receives the following: 
 (A) if the holder of such beneficial interest in a Restricted Global Warrant proposes to exchange such beneficial interest for an Unrestricted Definitive Warrant, a certificate from such holder in the
form of Exhibit F hereto, including the certifications in item (1)(b) thereof; or 
 (B)
if the holder of such beneficial interest in a Restricted Global Warrant proposes to transfer such beneficial interest to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Warrant, a certificate from such holder in
the form of Exhibit E hereto, including the certifications in item (4) thereof; and, in each such case set forth in this subparagraph (ii), if the Warrant Registrar or the Company so requests or if the Applicable
Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Warrant Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in
the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

  
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 (iii) Beneficial Interests in Unrestricted Global Warrants to
Unrestricted Definitive Warrants. If any holder of a beneficial interest in an Unrestricted Global Warrant proposes to exchange such beneficial interest for an Unrestricted Definitive Warrant or to transfer such beneficial interest to a Person
who takes delivery thereof in the form of an Unrestricted Definitive Warrant, then, upon satisfaction of the conditions set forth in Section 3.5(b)(ii) hereof, the Warrant Agent shall cause the amount of the applicable Global Warrant to
be reduced accordingly pursuant to Section 3.5(g) hereof, and the Company shall execute and the Warrant Agent shall countersign and deliver to the Person designated in the instructions an Unrestricted Definitive Warrant in the
appropriate principal amount. Any Unrestricted Definitive Warrant issued in exchange for a beneficial interest pursuant to this Section 3.5(c)(iii) shall be registered in such name or names and in such authorized denomination or
denominations as the holder of such beneficial interest shall instruct the Warrant Registrar through written instructions from the Depositary and the Participant or Indirect Participant. The Warrant Agent shall deliver such Unrestricted Definitive
Warrants to the Persons in whose names such Warrants are so registered. Any Unrestricted Definitive Warrant issued in exchange for a beneficial interest pursuant to this Section 3.5(c)(iii) shall not bear the Private Placement Legend.

 (d) Transfer and Exchange of Definitive Warrants for Beneficial Interests. 

(i) Restricted Definitive Warrants to Beneficial Interests in Restricted Global Warrants. If any Holder of a
Restricted Definitive Warrant proposes to exchange such Warrant for a beneficial interest in a Restricted Global Warrant or to transfer such Restricted Definitive Warrants to a Person who takes delivery thereof in the form of a beneficial interest
in a Restricted Global Warrant, then, upon receipt by the Warrant Registrar of the following documentation: 

(A) if the Holder of such Restricted Definitive Warrant proposes to exchange such Warrant for a beneficial interest in a
Restricted Global Warrant, a certificate from such holder in the form of Exhibit F hereto, including the certifications in item (2)(b) thereof; 

(B) if such Restricted Definitive Warrant is being transferred to a QIB in accordance with Rule 144A under the Securities
Act, a certificate to the effect set forth in Exhibit E hereto, including the certifications in item (1) thereof; 
 (C) if such Restricted Definitive Warrant is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904 of Regulation S under the Securities Act, a
certificate to the effect set forth in Exhibit E hereto, including the certifications in item (2) thereof; 
 (D) if such Restricted Definitive Warrant is being transferred pursuant to an exemption from the registration requirements of the 

  
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Securities Act in accordance with Rule 144 under the Securities Act, a certificate to the effect set forth in Exhibit E hereto, including the certifications in item (3)(a)
thereof; 
 (E) if such Restricted Definitive Warrant is being transferred to an Institutional Accredited
Investor in reliance on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit E hereto,
including the certifications, certificates and Opinion of Counsel required by item (3)(c) thereof, if applicable; or 
 (F) if such Restricted Definitive Warrant is being transferred to the Company or any of its Subsidiaries, a certificate to the effect set forth in Exhibit E hereto, including the
certifications in item (3)(b) thereof; 
 the Warrant Agent shall cancel the Restricted Definitive Warrant and
increase or cause to be increased the amount of, in the case of clause (A) above, the appropriate Restricted Global Warrant, in the case of clause (B) above, the QIB Global Warrant, in the case of clause (C)
above, the Regulation S Global Warrant, and in all other cases, the IAI Global Warrant. 
 (ii) Restricted
Definitive Warrants to Beneficial Interests in Unrestricted Global Warrants. A Holder of a Restricted Definitive Warrant may exchange such Warrant for a beneficial interest in an Unrestricted Global Warrant or transfer such Restricted Definitive
Warrant to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Warrant only if the Warrant Registrar receives the following: 

(A) if the Holder of such Definitive Warrants proposes to exchange such Warrants for a beneficial interest in the
Unrestricted Global Warrant, a certificate from such holder in the form of Exhibit E hereto, including the certifications in item (1)(c) thereof; or 

(B) if the Holder of such Definitive Warrants proposes to transfer such Warrants to a Person who shall take delivery
thereof in the form of a beneficial interest in the Unrestricted Global Warrant, a certificate from such holder in the form of Exhibit F hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (ii), if the Warrant Registrar or the Company so requests or if the
Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Warrant Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained
herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

  
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 Upon satisfaction of the conditions of any of the subparagraphs in this
Section 3.5(d)(ii), the Warrant Agent shall cancel the Definitive Warrants and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Warrant. 

(iii) Unrestricted Definitive Warrants to Beneficial Interests in Unrestricted Global Warrants. A Holder of an
Unrestricted Definitive Warrant may exchange such Warrant for a beneficial interest in an Unrestricted Global Warrant or transfer such Definitive Warrants to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted
Global Warrant at any time. Upon receipt of a written request for such an exchange or transfer, the Warrant Agent shall cancel the applicable Unrestricted Definitive Warrant and increase or cause to be increased the amount of the Unrestricted Global
Warrants. 
 If any such exchange or transfer from a Definitive Warrant to a beneficial interest is effected pursuant to
subparagraphs (ii)(B) or (iii) above at a time when an Unrestricted Global Warrant has not yet been issued, the Company shall issue and, upon receipt of a Warrant Countersignature Order in accordance with Section 3.2
hereof, the Warrant Agent shall countersign one or more Unrestricted Global Warrants in the number equal to the number of beneficial interests of Definitive Warrants so transferred. 

(e) Transfer and Exchange of Definitive Warrants for Definitive Warrants. Upon written request by a Holder of Definitive Warrants
and such Holder’s compliance with the provisions of this Section 3.5(e), the Warrant Registrar shall register the transfer or exchange of Definitive Warrants. Prior to such registration of transfer or exchange, the requesting Holder
shall present or surrender to the Warrant Registrar the Definitive Warrants duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Warrant Registrar duly executed by such Holder or by its attorney, duly
authorized in writing. In addition, the requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 3.5(e). 

(i) Restricted Definitive Warrants to Restricted Definitive Warrants. Any Restricted Definitive Warrant may be
transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Warrant if the Warrant Registrar receives the following: 

(A) if the transfer will be made pursuant to Rule 144A, then the transferor must deliver a certificate in the form of
Exhibit E hereto, including the certifications in item (1) thereof; 
 (B) if the transfer
will be made pursuant to Rule 903 or Rule 904 of Regulation S, then the transferor must deliver a certificate in the form of Exhibit E hereto, including the certifications in item (2) thereof; or 

  
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 (C) if the transfer will be made pursuant to any other exemption from the
registration requirements of the Securities Act, then the transferor must deliver a certificate in the form of Exhibit E hereto, including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if
applicable. 
 (ii) Restricted Definitive Warrants to Unrestricted Definitive Warrants. Any Restricted
Definitive Warrant may be exchanged by the Holder thereof for an Unrestricted Definitive Warrant or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Warrant if the Warrant Registrar receives the
following: 
 (A) if the Holder of such Restricted Definitive Warrants proposes to exchange such Warrants for an
Unrestricted Definitive Warrant, a certificate from such Holder in the form of Exhibit F hereto, including the certifications in item (1)(d) thereof; or 

(B) if the Holder of such Restricted Definitive Warrants proposes to transfer such Warrants to a Person who shall take
delivery thereof in the form of an Unrestricted Definitive Warrant, a certificate from such Holder in the form of Exhibit E hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (ii), if the Warrant Registrar or the Company so requests, an Opinion of
Counsel in form reasonably acceptable to the Warrant Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no
longer required in order to maintain compliance with the Securities Act. 
 (iii) Unrestricted Definitive
Warrants to Unrestricted Definitive Warrants. A Holder of Unrestricted Definitive Warrants may transfer such Warrants to a Person who takes delivery thereof in the form of an Unrestricted Definitive Warrant. Upon receipt of a written request to
register such a transfer, the Warrant Registrar shall register the Unrestricted Definitive Warrants pursuant to the instructions from the Holder thereof. 

  
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 (f) Legends. The following legends shall appear on the face of all Global Warrants
and Definitive Warrants issued under this Agreement unless specifically stated otherwise in the applicable provisions of this Agreement. 
 (i) Private Placement Legend. 
 (A) Except as permitted by
subparagraph (B) below, each Global Warrant and each Definitive Warrant (and all Warrants issued in exchange therefor or substitution thereof) shall bear the legend in substantially the following form: 

“THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS.
NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT
TO, REGISTRATION. 
 THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, (1) REPRESENTS THAT (A) IT IS A
“QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT), (B) IT IS A NON-U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, OR
(C) IT IS AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (A)(1), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT, AS AMENDED AND (2) AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH
SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) WHICH IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY
(OR ANY PREDECESSOR OF SUCH SECURITY) ONLY (A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (B) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL
BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT, THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHICH NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A,
(C) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF
SUBPARAGRAPH (A)(1),(2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT, AS AMENDED THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES AND NOT WITH
A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, (E) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S, OR REGISTRAR’S, AS APPLICABLE, RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (C),
(D) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND IN EACH OF THE FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS
SECURITY IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE OR REGISTRAR. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.” 

  
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 (B) Notwithstanding the foregoing, any Global Warrant or Definitive Warrant
issued pursuant to subparagraphs (b)(iv), (c)(ii), (c)(iii), (d)(ii), (d)(iii), (e)(ii) or (e)(iii) to this Section 3.5 (and all Warrants issued in exchange therefor or substitution
thereof) shall not bear the Private Placement Legend. 
 (ii) Global Warrant Legend. Each Global Warrant
shall bear a legend in substantially the following form: 
 “THIS GLOBAL WARRANT IS HELD BY THE DEPOSITARY (AS DEFINED IN
THE WARRANT AGREEMENT GOVERNING THIS WARRANT) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I) THE WARRANT AGENT MAY MAKE SUCH NOTATIONS
HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 3.5 OF THE WARRANT AGREEMENT, (II) THIS GLOBAL WARRANT MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 3.5(A) OF THE WARRANT AGREEMENT, (III) THIS GLOBAL WARRANT MAY BE DELIVERED
TO THE WARRANT AGENT FOR CANCELLATION PURSUANT TO SECTION 3.8 OF THE WARRANT AGREEMENT AND (IV) THIS GLOBAL WARRANT MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY.” 

(iii) Unit Legend. Each Warrant issued prior to the Separation Date shall bear a legend in substantially the
following form: 
 “The securities represented by this certificate constitute a portion of one or more Units, each Unit
consisting of $1,000 of principal amount of 14.250% Senior Secured Notes due 2015 of the Company and one Warrant to purchase shares of Common Stock of the Company. Until the Separation Date, the securities represented by this certificate may be
transferred only together as a Unit. Following the Separation Date, the securities represented by this certificate may be transferred without reference to the foregoing restriction.” 

(iv) Regulation S Legend. Each Warrant that is a Registrable Security and issued pursuant to Regulation S shall
bear the following legend on the face thereof: 
 “This Warrant and the securities to be issued upon its exercise have
not been registered under the Securities Act and the Warrant may not be exercised by or on behalf of any U.S. Person unless registered under the Securities Act or an exemption from such registration is available. In order to exercise this Warrant,
the Holder must furnish to the Company and the Warrant Agent either (a) a written certification that it is not a U.S. Person and that the Warrant is not being exercised on behalf of a U.S. Person or (b) a written Opinion of Counsel to the
effect that the securities delivered upon exercise of the Warrant have been registered under the Securities Act or that the delivery of such securities is exempt from the registration requirements of the Securities Act. Terms in this legend have the
meanings given to them by Regulation S under the Securities Act.” 

  
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 (g) Cancellation and/or Adjustment of Global Warrants. At such time as all beneficial
interests in a particular Global Warrant have been exercised or exchanged for Definitive Warrants or a particular Global Warrant has been exercised, redeemed, repurchased or canceled in whole and not in part, each such Global Warrant shall be
returned to or retained and canceled by the Warrant Agent in accordance with Section 3.8 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Warrant is exercised or exchanged for or transferred to a
Person who will take delivery thereof in the form of a beneficial interest in another Global Warrant or for Definitive Warrants, the amount of Warrants represented by such Global Warrant shall be reduced accordingly and an endorsement shall be made
on such Global Warrant by the Warrant Agent or by the Depositary at the direction of the Warrant Agent to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the
form of a beneficial interest in another Global Warrant, such other Global Warrant shall be increased accordingly and an endorsement shall be made on such Global Warrant by the Warrant Agent or by the Depositary at the direction of the Warrant Agent
to reflect such increase. 
 (h) General Provisions Relating to Transfers and Exchanges. 

(i) To permit registrations of transfers and exchanges, the Company shall execute and the Warrant Agent shall countersign
Global Warrants and Definitive Warrants upon the Company’s written order or at the Warrant Registrar’s request. 
 (ii) No service charge shall be made to a holder of a beneficial interest in a Global Warrant or to a Holder of a Definitive Warrant for any registration of transfer or exchange, but the Company may
require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith. 
 (iii) All Global Warrants and Definitive Warrants issued upon any registration of transfer or exchange of Global Warrants or Definitive Warrants shall be the duly authorized, executed and issued warrants
for Common Stock of the Company or such other Warrant Shares as may be issuable upon exercise of a Warrant in accordance with the terms of this Agreement, not subject to any preemptive rights, and entitled to the same benefits under this Agreement,
as the Global Warrants or Definitive Warrants surrendered upon such registration of transfer or exchange. 
 (iv)
In connection with the due presentment for the registration of a transfer of any Warrant, the Warrant Agent and the Company may deem and treat the Person in whose name any Warrant is registered as the absolute owner of such Warrant for all purposes
and neither the Warrant Agent nor the Company shall be affected by notice to the contrary. 

  
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 (v) The Warrant Agent shall countersign Global Warrants and Definitive
Warrants in accordance with the provisions of Section 3.2 hereof. 
 (i) Facsimile Submissions to Warrant
Agent. All certifications, certificates and Opinions of Counsel required to be submitted to the Warrant Registrar pursuant to this Section 3.5 to effect a registration of transfer or exchange may be submitted by facsimile.

 Notwithstanding anything herein to the contrary, as to any certificates and/or certifications delivered to the Warrant
Registrar pursuant to this Section 3.5, the Warrant Registrar’s duties shall be limited to confirming that any such certifications and certificates delivered to it are in the form of Exhibits E and F hereto. The
Warrant Registrar shall not be responsible for confirming the truth or accuracy of representations made in any such certifications or certificates. As to any Opinions of Counsel delivered pursuant to this Section 3.5, the Warrant
Registrar may rely upon, and be fully protected in relying upon, such Opinions of Counsel. 
 3.6. Replacement Warrants.

 If any mutilated Warrant Certificate is surrendered to the Warrant Agent or the Company and the Warrant Agent receives
evidence to its satisfaction of the destruction, loss or theft of any Warrant Certificate, the Company shall issue and the Warrant Agent, upon receipt of a Warrant Countersignature Order, shall countersign a replacement Warrant if the Warrant
Agent’s requirements are met. If required by the Warrant Agent or the Company, an indemnity bond must be supplied by the Holder that is sufficient in the reasonable judgment of the Warrant Agent and the Company to protect the Company, the
Warrant Agent and any agent for purposes of the countersignature from any loss that any of them may suffer if a Warrant Certificate is replaced. The Company may charge for its expenses in replacing a Warrant. 

Every replacement Warrant is an additional Warrant of the Company and shall be entitled to all of the benefits of this Agreement equally
and proportionately with all other Warrants duly issued hereunder. 
 3.7. Temporary Warrants. 

Until certificates representing Warrants are ready for delivery, the Company may prepare and issue and the Warrant Agent, upon receipt of
a Warrant Countersignature Order, shall countersign temporary Warrants. Temporary Warrants shall be substantially in the form of certificated Warrants but may have variations that the Company considers appropriate for temporary Warrants and that
shall be reasonably acceptable to the Warrant Agent. Without unreasonable delay, the Company shall prepare and the Warrant Agent shall countersign definitive Warrants in exchange for temporary Warrants. 

Holders of temporary Warrants shall be entitled to all of the benefits of this Agreement. 

3.8. Cancellation. 
 Subject to Section 3.5(g) hereof, the Company at any time may deliver Warrant Certificates to the Warrant Agent for cancellation. The Warrant Registrar and Warrant Paying

  
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Agent shall forward to the Warrant Agent any Warrant Certificates surrendered to them for registration of transfer, exchange or exercise. The Warrant Agent and no one else shall cancel all
Warrant Certificates surrendered for registration of transfer, exchange, exercise, replacement or cancellation and shall destroy canceled Warrant Certificates (subject to the record retention requirements of the Exchange Act). Certification of the
destruction of all canceled Warrant Certificates shall be delivered to the Company. The Company may not issue new Warrant Certificates to replace Warrant Certificates that have been exercised in full or that have been delivered to the Warrant Agent
for cancellation. 
 Section 4. Separation of Warrants; Exercise of Warrants; Terms of Warrants. 

4.1. Separation Date. The Notes and Warrants shall not be separately transferable until the Separation Date. Subject to the terms
of this Agreement, each Holder shall have the right, which may be exercised at any time and from time to time during the period commencing on the Separation Date and ending at 5:00 p.m., New York City time on the Expiration Date (the
“Exercise Period”), to receive from the Company the number of fully paid and nonassessable Warrant Shares that the Holder may at the time be entitled to receive on exercise of such Warrants and payment of the aggregate Exercise
Price for all Warrant Shares being purchased (i) in cash, by wire transfer of immediately available funds, or by certified or official bank check payable to the order of the Company, (ii) by tendering Warrants as set forth in the next
sentence or (iii) any combination of cash or Warrants. Each Holder may elect, upon exercise of its Warrants during the Exercise Period, to receive Warrant Shares on a net basis, such that, without the exchange of any funds, the Holder shall
receive such number of Warrant Shares as shall equal the product of (A) the number of Warrant Shares for which such Warrant is exercisable as of the date of exercise (if the Exercise Price were being paid in cash) and (B) the Cashless
Exercise Ratio. Each Warrant not exercised prior to 5:00 p.m., New York City time, on the Expiration Date shall become void and all rights thereunder and all rights in respect thereof under this Agreement shall cease as of such time. The separation
is a mandatory event and upon separation, the Units will cease to trade. 
 4.2. Exercising Warrants. In order to
exercise all or any of the Warrants represented by a Warrant Certificate, (i) in the case of a Definitive Warrant, the Holder thereof must surrender upon exercise the Warrant Certificate to the Company with the form of election to purchase on
the reverse thereof properly completed and executed at the corporate trust office of the Warrant Agent set forth in Section 18 hereof, (ii) in the case of a book-entry interest in a Global Warrant, the exercising Participant whose
name appears on a securities position listing of the Depositary as the Holder of such book-entry interest must comply with the Depositary’s procedures relating to the exercise of such book-entry interest in such Global Warrant and (iii) in
the case of interests in either Global Warrants and Definitive Warrants, the holder thereof or the Participant, as applicable, shall deliver to the Company at the corporate trust office of the Warrant Agent the form of election to purchase and
Joinder to the Stockholders Agreement, as provided on the reverse of the form of Warrant Certificate, duly completed and executed, which signature shall be medallion guaranteed by an institution which is a member of a securities transfer association
recognized signature guarantee program, and upon payment to the Warrant Agent for the account of the Company of the Exercise Price, for the number of Warrant Shares in respect of which such Warrants are then exercised. Payment of the aggregate
Exercise Price shall be made in accordance with Section 4.1 hereof. 

  
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 4.3. Delivery of Warrant Share Certificates. Subject to the provisions of
Section 5 hereof, upon compliance with Section 4.2 above, the Company shall deliver or cause to be delivered with all reasonable dispatch, to or to the written order of the Holder and in such name or names as the Holder may
designate, a certificate or certificates for the number of whole Warrant Shares issuable upon the exercise of such Warrants or other securities or property to which such Holder is entitled hereunder, together with cash as provided in
Section 9 hereof; provided, that if any consolidation, merger or lease or sale of assets is proposed to be effected by the Company or its Subsidiaries as described in Section 8.4 hereof, or a tender offer or an
exchange offer for shares of Common Stock (or other securities of the Company which then constitute Warrant Shares) shall be made, upon such surrender of Warrant Certificates and payment of the aggregate Exercise Price in accordance with
Section 4.2 above, the Company shall, as soon as possible, but in any event not later than two Business Days thereafter, deliver or cause to be delivered the full number of Warrant Shares issuable upon the exercise of such Warrants in
the manner described in this sentence or other securities or property to which such Holder is entitled hereunder, together with cash as provided in Section 9 hereof. All certificates in this Section 4.3 shall be deemed to
have been issued and any Person so designated to be named therein shall be deemed to have become a Holder of record of such Warrant Shares as of the date of the surrender of such Warrants and payment of the aggregate Exercise Price. 

4.4. Partial Exercise of Warrants Held. During the Exercise Period the Warrants shall be exercisable, at the election of the
Holders thereof, either in full or from time to time in part. If less than all the Warrants represented by a Warrant Certificate are exercised, such Warrant Certificate shall be surrendered and a new Warrant Certificate of the same tenor and for the
number of Warrants that were not exercised shall be executed by the Company and delivered to the Warrant Agent, and the Warrant Agent shall countersign the new Warrant Certificate, registered in such name or names as may be directed in writing by
the Holder and shall deliver or cause to be delivered the new Warrant Certificate to the Person or Persons entitled to receive the same. 
 4.5. Cancelled Warrant Certificates. All Warrant Certificates surrendered upon exercise of Warrants shall be cancelled by the Warrant Agent. Such cancelled Warrant Certificates shall then be
disposed of by the Warrant Agent in accordance with its customary procedures or, upon written order from the Company, shall be returned to the Company. The Warrant Agent shall report promptly, but in no event later than two Business Days, to the
Company with respect to Warrants exercised and concurrently pay to the Company all monies received by the Warrant Agent for the purchase of the Warrant Shares through the exercise of such Warrants. 

4.6. Copies for Inspection. The Warrant Agent shall keep copies of this Agreement and any notices given or received hereunder
available for inspection by the Holders during normal business hours at its office. The Company shall supply the Warrant Agent from time to time with such number of copies of this Agreement as the Warrant Agent may request. 

4.7. Liquidation and Assets. Except as set forth in Section 8.2, Holders of unexercised Warrants are not entitled to
share in the assets of the Company in the event of the liquidation, dissolution or winding up of the Company. 

  
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 Section 5. Payment of Taxes. 

The Company shall pay all documentary stamp taxes attributable to the initial issuance of Warrant Shares upon the exercise of Warrants;
provided, that the Company shall not be required to pay any tax or taxes that may be payable in respect of any transfer involved in the issue of any Warrant Certificates or any certificates for Warrant Shares in a name other than that of the
registered Holder of a Warrant Certificate surrendered upon the exercise of a Warrant, and the Company shall not be required to issue or deliver such Warrant Certificates unless or until the Person or Persons requesting the issuance thereof shall
have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid. 
 Section 6. Reservation of Warrant Shares; Registration of Warrant Shares. 
 6.1. Authorization of Shares. The Company shall at all times reserve and keep available, free from preemptive rights and all taxes, liens, charges and security interests, out of the aggregate of
its authorized but unissued Common Stock (or such other Warrant Shares as may be issuable upon exercise of a Warrant) and/or the authorized and issued Common Stock (or such other Warrant Shares as may be issuable upon exercise of a Warrant) held in
its treasury, for the purpose of enabling it to satisfy any obligation to issue Warrant Shares upon exercise of Warrants, the maximum number of shares of Common Stock which may then be deliverable upon the exercise of all outstanding Warrants.

 6.2. Responsibility for Authorization. The Company or, if appointed, the transfer agent for the Common Stock (the
“Transfer Agent”) and every subsequent transfer agent for any shares of the Company’s capital stock issuable upon the exercise of any of the rights of purchase represented by the Warrants shall be irrevocably authorized and
directed at all times to reserve such number of authorized shares as shall be required for such purpose. The Company shall keep a copy of this Agreement on file with the Transfer Agent and with every subsequent transfer agent for any shares of the
Company’s capital stock issuable upon the exercise of the rights of purchase represented by the Warrants. The Warrant Agent is hereby irrevocably authorized to requisition from time to time from such Transfer Agent the stock certificates
required to honor outstanding Warrants upon exercise thereof in accordance with the terms of this Agreement. The Company shall supply such Transfer Agent with duly executed certificates for such purposes and shall provide or otherwise make available
any cash which may be payable as provided in Section 9 hereof. The Company shall furnish such Transfer Agent a copy of all notices of adjustments, and certificates related thereto, transmitted to each Holder pursuant to
Section 12 hereof. 
 6.3. Warrants Free and Clear. The Company covenants that all Warrant Shares issued upon
exercise of Warrants shall, upon issue, be fully paid, nonassessable, free of preemptive rights and free from all taxes (other than income taxes, if applicable), liens, charges and security interests with respect to the issuance thereof. 

Section 7. Obtaining Stock Exchange Listings. 
 The Company shall from time to time take all action which may be necessary so that the Warrant Shares, immediately upon their issuance upon the exercise of Warrants, will be listed on a principal
securities exchange, automated quotation system or other market within the United States of America, if any, on which other shares of the Common Stock are then listed, if any. 

  
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 Section 8. Adjustment of Exercise Price and Number of Warrant Shares Issuable.

 8.1. Adjustment for Change in Capital Stock. If the Company (i) pays a dividend or makes a distribution on its
Common Stock payable in shares of its Common Stock, (ii) subdivides its outstanding shares of Common Stock into a greater number of shares, (iii) combines its outstanding shares of Common Stock into a smaller number of shares or
(iv) issues by reclassification of its Common Stock any shares of its capital stock, then the Exercise Price shall be proportionately adjusted so that, after giving effect to Section 8.5, the Holder of any Warrant exercised after
such action may receive the aggregate number and kind of shares of capital stock of the Company which such Holder would have owned immediately following such action assuming the exercise of such Warrant immediately prior to such action, or, if
applicable, the record date for such action. 
 The adjustment shall become effective immediately after the record date in the
case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. 
 If, after an adjustment pursuant to clause (iv) above, a Holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Company shall
determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall after such action be subject to
adjustment on terms comparable to those applicable to Common Stock in this Section 8. Such adjustment shall be made successively whenever any event listed above shall occur. 

In furtherance of the foregoing, the Company shall not, whether by merger, consolidation, amendment to its certificate of incorporation,
operation of law or otherwise, effect any stock split, recapitalization or similar adjustment to any class of its Common Stock unless simultaneously in connection therewith it effects an identical stock split, recapitalization or similar adjustment
to each other class of its Common Stock. 
 8.2. Liquidity Event. If a Liquidity Event has not occurred on or before the
date that is 18 months following the issue date of the Units, the aggregate number of Warrant Shares purchasable upon exercise of the Warrants shall be increased by 7% of the Management Common Stock on such day that is 18 months following the issue
date, and by an additional 4% of the Management Common Stock at the end of each 180-day period thereafter until the date of a Liquidity Event. 
 8.3. Par Value of Shares of Common Stock. Before taking any action that would cause an adjustment effectively reducing the portion of the Exercise Price allocable to each share of Common Stock
below the then par value per share of the Common Stock issuable upon exercise of the Warrants, the Company shall take any corporate action which may, in the opinion of its counsel, be necessary in order that the Company may validly and legally issue
fully paid and nonassessable shares upon exercise of the Warrants at the Exercise Price as so adjusted. 

  
 26 

 8.4. Reorganization of Company. If the Company consolidates or merges with or into,
or transfers or leases all or substantially all its assets to, any Person, upon consummation of such transaction the Warrants shall automatically become exercisable for the kind and amount of securities, cash or other assets which the Holder of a
Warrant would have owned immediately after the consolidation, merger, transfer or lease if the Holder had exercised the Warrant immediately before the consummation of the transaction. Concurrently with the consummation of such transaction, the
corporation formed by or surviving any such consolidation or merger if other than the Company, or the Person to which such sale or conveyance shall have been made, shall enter into a supplemental warrant agreement, including registration rights as
nearly equivalent to those provided under Section 10 as practicable, and further providing for adjustments which shall be as nearly equivalent as may be practical to the adjustments provided for in this Section 8. The
successor Company shall mail to Warrant Holders a notice describing the supplemental warrant agreement. If the issuer of securities deliverable upon exercise of Warrants under the supplemental warrant agreement is an Affiliate of the formed,
surviving, transferee or lessee corporation, such issuer shall join in the supplemental warrant agreement. 
 8.5. Adjustment
in Number of Shares. Upon each adjustment of the Exercise Price pursuant to this Section 8, each Warrant outstanding prior to the making of the adjustment shall thereafter evidence the right to receive upon payment of the adjusted
Exercise Price that number of shares of Common Stock (calculated to the nearest hundredth) obtained from the following formula: 
  

													
		  	N’	  	=	  	N	  	x	  	E	  	
		  		  		  		  		  	E’	  	

 where: 
  

					
	N’	  	=	  	 the adjusted number of Warrant Shares
 issuable upon exercise of a Warrant.

	N	  	=	  	 the number or Warrant Shares previously
 issuable upon exercise of a Warrant.

	E	  	=	  	the Exercise Price prior to adjustment.
	E’	  	=	  	the adjusted Exercise Price.

 8.6. Form of Warrants Certificate. Irrespective of any adjustments in the Exercise Price or the
number or kind of shares purchasable upon the exercise of the Warrants, Warrants theretofore or thereafter issued may continue to express the same price and number and kind of shares as are stated in the Warrants initially issuable pursuant to this
Agreement. 
 8.7. Challenge to Good Faith Determination. Whenever the Board of Directors of the Company shall be
required to make a determination in good faith of the Fair Market Value hereunder, such determination may be challenged by Holders holding in the aggregate a majority of the then outstanding Warrants (without regard to any Warrants then held by the
Company or its Affiliates) (the “Majority Holders”), and any dispute shall be resolved by an investment banking firm of national standing selected by the Company. The fee of such investment banking firm shall be paid 50% by the
Company and 50% by the Holders. 

  
 27 

 8.8. Actions by the Company. The Company will not, by merger, consolidation,
amendment to its certificate of incorporation, sale of all or substantially all of its or its Subsidiaries assets, operation of law or otherwise by any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms
of this Agreement, but will at all times in good faith assist in the carrying out of all such terms. Without limiting the generality of the foregoing, the Company (i) will take all such action as may be necessary or appropriate in order that
the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of the Warrants and (ii) will not take any action which results in any adjustment of the Exercise Price if the total number of shares of the
Common Stock issuable after the action upon the exercise of all the Warrants would exceed the total number of shares of the Common Stock then authorized by the Company’s charter and available for the purposes of issue upon such exercise.

 Section 9. Fractional Interests. 
 The Company shall not be required to issue fractional Warrant Shares on the exercise of Warrants. If more than one Warrant shall be presented for exercise in full at the same time by the same Holder, the
number of full Warrant Shares that shall be issuable upon the exercise thereof shall be computed on the basis of the aggregate number of Warrant Shares purchasable on exercise of the Warrants so presented. If any fraction of a Warrant Share would,
except for the provisions of this Section 9, be issuable on the exercise of any Warrants (or specified portion thereof), the Company shall pay an amount in cash equal to the Fair Market Value per Warrant Share then, in lieu of issuing
such fraction of a Warrant Share, as determined on the day immediately preceding the date such Warrant is presented for exercise, multiplied by such fraction, computed to the nearest whole U.S. cent. 

Section 10. Piggy-Back Registration; Other Holder Rights. 

10.1. Piggy-Back Registration Rights. If the Company proposes to file a Registration Statement under the Securities Act (other
than a Registration Statement on Form S-4 or S-8 (or any successor form)) with respect to any class of equity securities of the Company, whether or not for its own account, then the Company shall give written notice of such proposed filing to the
Holders of Warrants as soon as practicable (but in no event fewer than 10 Business Days before the anticipated filing date), and such notice shall offer such Holders the opportunity to register such number of Warrant Shares as each such Holder may
request in writing within 10 days after receipt of such written notice from the Company (which request shall specify the Warrant Shares intended to be disposed of by such Selling Holder) (a “Piggy-Back Registration”). Upon the
written request of any such Selling Holder made within 10 days after the receipt of any such notice (which request shall specify the number of Registrable Securities intended to be disposed of by such Selling Holder and the intended method of
disposition thereof, which shall be on the same terms and conditions as the securities of the Company or other security holder included in the registration statement), the Company shall, subject to the terms of this Agreement, effect the
registration under the Securities Act of all Registrable Securities which the Company has been so requested to register by the Holders thereof, to the extent required to permit the disposition (in accordance with the intended methods thereof) of the
Registrable Securities so to be registered, on the same terms and conditions as the securities of the Company or other security holder included in the registration statement by inclusion of such Registrable Securities in the

  
 28 

 
Registration Statement that covers the securities that the Company proposes to register; provided, that if at any time after giving written notice of its intention to register any
securities and prior to the effective date of the Registration Statement filed in connection with such registration, the Company shall determine for any reason either not to register or to delay registration of such securities, the Company may, at
its election, give written notice of such determination to each Selling Holder and, thereupon, (i) in the case of a determination not to register shall be relieved of its obligation to register any Registrable Securities in connection with such
registration (but not from its obligation to pay the Registration Expenses in connection therewith) and (ii) in the case of a determination to delay registering, shall be permitted to delay registering any Registrable Securities, for the same
period as the delay in registering such other securities. 
 10.2. Inclusion in Registered Offering; Withdrawal. The
Company shall cause the managing underwriter or underwriters of such proposed offering to permit the Registrable Securities requested to be included in a Piggy-Back Registration to be included on the same terms and conditions as any similar
securities of the Company or any other selling security holder included therein and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method of distribution thereof. Any Selling Holder shall have
the right to withdraw its request for inclusion of its Registrable Securities in any Registration Statement pursuant to these provisions by giving written notice to the Company of its request to withdraw no less than 15 Business Days prior to the
effective date of such Registration Statement. 
 10.3. Payment of Registration Expenses. The Company shall pay all
Registration Expenses in connection with registration of Registrable Securities requested pursuant to this Section 10, and the Selling Holders shall pay the underwriting discounts, commissions, and transfer taxes, if any, relating to the
sale of such Selling Holders’ Registrable Securities pursuant to this Section 10. 
 10.4. Underwriter
Cut-Back; Priority in Piggy-Back Registrations. If a registration pursuant to this Section 10 involves an underwritten offering of the securities so being registered, whether or not for sale for the account of the Company, the
Company shall, if requested by any Selling Holder and subject to the provisions of this Section 10, arrange for such underwriters to include all the Registrable Securities to be offered and sold by such Selling Holder among the
securities to be distributed by such underwriters. If the managing underwriter of such underwritten offering shall, in writing, inform the Selling Holders requesting such registration and the holders of any of the Company’s other securities
which shall have exercised registration rights in respect of such underwritten offering of its belief that the number of securities requested to be included in such registration would materially and adversely affect the success of such offering,
then the Company shall be required to include in such Registration Statement only the amount of securities that it is so advised should be included in such registration. In such event, 

(a) in cases initially involving the registration for sale of securities for the Company’s own account, securities shall be
registered in such offering in the following order of priority: (i) first, the securities that the Company proposes to register and (ii) second, the securities that have been requested to be included in such registration by Selling Holders
and by Persons entitled to exercise “piggy-back” registration rights pursuant to contractual commitments 

  
 29 

 
of the Company (pro rata on the amount of securities sought to be registered by such Selling Holders and such Persons; it being expressly understood that the Company may not reduce the
amount of Registrable Securities included in such registration unless it reduces the amount sought to be registered by such Persons on a pro rata basis) and 
 (b) in cases not initially involving the registration for sale of securities for the Company’s own account, securities shall be registered in such offering as follows: (i) first, the securities
that have been requested to be included in such registration by Selling Holders and other Persons entitled to exercise registration rights pursuant to contractual commitments (pro rata based on the amount of securities sought to be registered
by such Holders and Persons); provided, that the Company may exclude securities sought to be registered by Selling Holders if (A) such registration is pursuant to a contractual “demand” registration right existing on the date
hereof and such right expressly requires the Company to exclude such securities, and (B) all securities which the Company proposes to register are first excluded and (ii) second, the securities which the Company proposes to register.

 10.5. Underwriter Cut-Back; Shelf Registration Rights. The number of Registrable Securities requested to be included
in a Piggy-Back Registration is subject to reduction pursuant to Section 10.4 above. If as a result of such reduction (including pursuant to the proviso of Section 10.4(b)(i)), the holders of Registrable Securities are unable to
include such Registrable Securities, the Company shall file a shelf Registration Statement on a Form S-3 or successor form (or if not available, any other then available Form) with respect to such Registrable Securities within 180 days, or such
shorter time as the managing underwriter may agree, but in no event less than 30 days, of the effectiveness of such Registration Statement, and the Company shall use its commercially reasonable efforts to cause such Registration Statement to be
declared effective within 45 days of filing and to remain effective for a period of one year following the effective date. 

10.6. Market Stand Off. Each Holder of Warrants and Registrable Securities agrees, that if requested by the managing underwriter
in connection with any underwritten public offering of the Company’s securities, not to directly or indirectly offer, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant for the sale of or otherwise dispose of or transfer any Registrable Securities held by it for such period, not to exceed (i) 180 days following consummation of an underwritten initial public offering, or (ii) 90 days
following the consummation of any other underwritten public offering. 
 Section 11. Registration Procedures.

 11.1. Responsibilities of the Company. In connection with any Piggy-Back Registration, the Company shall
(provided, that it shall not be required to take any action pursuant to this Section 11 that would, in an opinion of counsel to the Company, violate applicable law): 

(a) no fewer than five Business Days prior to the initial filing of a Registration Statement or Prospectus and no fewer than two Business
Days prior to the filing of any amendment or supplement thereto (including any document that would be incorporated or 

  
 30 

 
deemed to be incorporated therein by reference), if requested, furnish to the Selling Holders, their counsel and the managing underwriters, if any, confidential copies of all such documents
proposed to be filed, and cause the Officers and directors of the Company, counsel to the Company and independent certified public accountants to the Company to respond to such inquiries as shall be reasonably necessary, in the opinion of respective
counsel to such underwriters and to conduct a reasonable investigation within the meaning of the Securities Act; provided, that the Company shall not be deemed to have kept a Registration Statement effective if it voluntarily takes or fails
to take any action that results in Selling Holders covered thereby not being able to sell such Registrable Securities pursuant to federal securities laws during that period; 
 (b) Take such action as may be necessary so that (i) any Registration Statement and any amendment thereto and any Prospectus forming part thereof and any amendment or supplement thereto (and each
report or other document incorporated herein by reference in each case) complies in all material respects with the Securities Act and the Exchange Act and the respective rules and regulations thereunder, (ii) any Registration Statement and any
amendment thereto does not, when it becomes effective, 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 and (iii) any
Prospectus forming part of any Registration Statement, and any amendment or supplement to such Prospectus, does not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements, in the
light of the circumstances under which they were made, not misleading; 
 (c) Use commercially reasonable efforts to prepare and
file with the SEC such amendments, including post-effective amendments, to each Registration Statement as may be necessary to keep such Registration Statement continuously effective for the amount of time that it is required to keep the Registration
Statement effective in order to consummate the offering which gave rise to the registration rights granted herein, but no longer than one year; cause the related Prospectus to be supplemented by any required Prospectus supplement, and as so
supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) under the Securities Act; and comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all securities covered by
such Registration Statement during such period in accordance with the intended methods of disposition by the sellers thereof set forth in such Registration Statement as so amended or in such Prospectus as so supplemented; 

(d) Notify the Selling Holders, their counsel and the managing underwriters, if any, promptly (and in any case within two Business Days),
and (if requested by any such Person), confirm such notice in writing: 
 (i) (A) when a Prospectus or any
Prospectus supplement or post-effective amendment has been filed and (B) with respect to a Registration Statement or any post-effective amendment, when the same has become effective; 

(ii) of any request by the SEC or any other federal or state governmental authority for amendments or supplements to a
Registration Statement or related Prospectus or for additional information; 

  
 31 

 (iii) of the issuance by the SEC, any state securities commission, any other
governmental agency or any court of any stop order or injunction suspending or enjoining the use or the effectiveness of a Registration Statement or the initiation of any proceedings for that purpose; 

(iv) if at any time any of the representations and warranties of the Company contained in any securities distribution
agreement (including any underwriting agreement) contemplated hereby cease to be true and correct in all material respects; 
 (v) of the receipt by the Company of 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; 
 (vi) of the happening of any event that
makes any statement made in such Registration Statement or related Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in such
Registration Statement, Prospectus or documents so that, in the case of the Registration Statement, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the
statements therein, not misleading, and that in the case of the Prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading; and 
 (vii) of the Company’s
reasonable determination that a post-effective amendment to such Registration Statement would be appropriate; 
 (e) Use
commercially reasonable efforts to avoid the issuance of, or, if issued, obtain the withdrawal of any order enjoining or suspending the use or effectiveness of, a Registration Statement or the lifting of any suspension of the qualification (or
exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, at the earliest practicable moment; 
 (f) If requested by the managing underwriters, if any, reasonably in advance of the filing thereof, (i) promptly incorporate in a Prospectus supplement or post-effective amendment such information as
the managing underwriters, if any, reasonably agree should be included therein, (ii) make all required filings of such Prospectus supplement or such post-effective amendment as soon as practicable after the Company has received notification of
the matters to be incorporated in such Prospectus supplement or post-effective amendment and (iii) supplement or make amendments to such Registration Statement; 
 (g) Deliver to each Selling Holder, their counsel, and the underwriters, if any, without charge, as many copies of the Prospectus or Prospectuses (including each form of Prospectus) and each amendment or
supplement thereto as such Persons reasonably request; and 

  
 32 

 
the Company hereby consents to the use of such Prospectus and each amendment or supplement thereto by each of the Selling Holders and the underwriters, if any, in connection with the offering and
sale of the Registrable Securities covered by such Prospectus and any amendment or supplement thereto; 
 (h) Prior to any
public offering of Registrable Securities, cooperate with the Selling Holders of Registrable Securities to be sold or tendered for, the underwriters, if any, and their respective counsel in connection with, the registration or qualification (or
exemption from such registration or qualification) of such Registrable Securities for offer and sale under the securities or “blue sky” laws of such jurisdictions within the United States as any Selling Holder or underwriter reasonably
requests in writing; provided, that where Registrable Securities are offered other than through an underwritten offering, the Company agrees to (i) cause its counsel to perform “blue sky” investigations and file registrations
and qualifications required to be filed pursuant to this Section 11(h); (ii) use commercially reasonable efforts to keep each such registration or qualification (or exemption therefrom) effective during the period such Registration
Statement is required to be kept effective; and (iii) use commercially reasonable efforts to do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Registrable Securities covered by
such Registration Statement; provided, that the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action that would subject it to general service of process
in any such jurisdiction where it is not then so subject or subject the Company to any tax in any such jurisdiction where it is not then so subject; 
 (i) In connection with any sale or transfer of Registrable Securities that will result in such securities no longer being Registrable Securities, cooperate with the Selling Holders and the managing
underwriters, if any, to facilitate the timely preparation and delivery of certificates (with appropriate CUSIP numbers) representing Registrable Securities to be sold, which certificates shall not bear any restrictive legends and shall be in a form
eligible for deposit with DTC, and to enable such Registrable Securities to be in such denominations and registered in such names as the managing underwriters, if any, or Holders may request at least two Business Days prior to any sale of
Registrable Securities; 
 (j) Use commercially reasonable efforts to cause the offering of the Registrable Securities covered
by the Registration Statement to be registered with or approved by such other governmental agencies or authorities within the United States, except as may be required as a consequence of the nature of such Selling Holder’s business, in which
case the Company shall cooperate in all reasonable respects at the expense of such Selling Holder with the filing of such Registration Statement and the granting of such approvals as may be necessary to enable the seller or sellers thereof or the
underwriters, if any, to consummate the disposition of such Registrable Securities; provided, that the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any
action that would subject it to general service of process in any such jurisdiction where it is not then so subject or subject the Company to any tax in any such jurisdiction where it is not then so subject; 

(k) Upon the occurrence of any event contemplated by Section 11(d)(vi) or 11(d)(vii), as promptly as practicable,
prepare a supplement or amendment, including, if appropriate, a post-effective amendment, to each Registration Statement or a supplement to the 

  
 33 

 
related Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file any other required document so that, as thereafter delivered, such Prospectus 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, in light of the circumstances under which they were made, not misleading. If the Company
notifies the Selling Holders of the occurrence of any event contemplated by Section 11(d)(vi) or 11(d)(vii) above, the Selling Holders shall suspend the use of the Prospectus until the requisite changes to the Prospectus have been
made; 
 (l) Enter into such agreements (including an underwriting agreement in form, scope and substance as is customary in
underwritten offerings) and take all such other reasonable actions in connection therewith (including those reasonably requested by the managing underwriters, if any, in order to expedite or facilitate the disposition of such Registrable Securities,
and in such connection, whether or not an underwriting agreement is entered into and whether or not the registration is an underwritten registration, 
 (i) make such representations and warranties to the Selling Holders of such Registrable Securities and the underwriters, if any, with respect to the business of the Company (including with respect to
businesses or assets acquired or to be acquired by it), and the Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily
made by issuers to underwriters in underwritten offerings, and confirm the same if and when requested; 
 (ii)
obtain opinions of counsel to the Company and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the managing or sole underwriters, if any, addressed to the underwriters, if any, covering
the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such underwriters); 
 (iii) obtain customary “comfort” letters and updates thereof (including, if such registration includes an underwritten public offering, a “bring down” comfort letter dated the date of
the closing under the underwriting agreement) from the independent certified public accountants of the Company (and, if necessary, any other independent certified public accountants of any business which may hereafter be acquired by the Company for
which financial statements and financial data are required to be included in the Registration Statement), addressed to each of the underwriters, if any, such letters to be in customary form and covering matters of the type customarily covered in
“comfort” letters in connection with underwritten offerings and such other matters as reasonably required by the managing underwriter or underwriters and as permitted by the Statement on Auditing Standards No. 72. 

(iv) if an underwriting agreement is entered into, the same shall contain customary covenants on the part of the Company
and will provide that the 

  
 34 

 
Company will indemnify the Holders of Registrable Securities included in the registration statement and any underwriter with respect thereto against certain liabilities, including liabilities
under the Securities Act; and 
 (v) deliver such documents and certificates as may be reasonably requested by
the managing underwriters, if any, to evidence the continued validity of the representations and warranties made pursuant to Section 11(l)(i) above and to evidence compliance with any customary conditions contained in the underwriting
agreement or other agreement entered into by the Company; 
 (m) Make available for inspection by one representative of the
managing underwriter participating in any such disposition of Registrable Securities, if any, and any attorney, consultant or accountant retained by such underwriter (collectively, the “Inspectors”), at the offices where normally
kept, during reasonable business hours, all financial and other records, pertinent corporate documents and properties of the Company (including with respect to business and assets acquired or to be acquired to the extent that such information is
available to the Company), and cause the Officers, directors, agents and employees of the Company (including with respect to business and assets acquired or to be acquired to the extent that such information is available to the Company) to supply
all information in each case reasonably requested by any such Inspector in connection with such Registration; provided, the Company may first require that such Persons agree to keep confidential any non-public information relating to the
Company received by such Person and not disclose such information (other than to an Affiliate or prospective purchaser who agrees to respect the confidentiality provisions of this Section 11(m)) until such information has been made
generally available to the public (other than as a result of a disclosure or failure to safeguard by such Inspector) unless the release of such information is required by law or necessary to respond to inquiries of regulatory authorities (including
the National Association of Insurance Commissioners, or similar organizations or their successors); without limiting the foregoing, no such information shall be used by such Inspector as the basis for any market transactions in securities of the
Company or its Subsidiaries, if any, in violation of law; 
 (n) Comply with all applicable rules and regulations of the SEC and
make generally available to their security holders earning statements satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 45 days
after the end of any 12-month period (or 90 days after the end of any 12-month period if such period is a fiscal year) (i) commencing at the end of any fiscal quarter in which Registrable Securities are sold to underwriters in a firm commitment
or reasonable efforts underwritten offering and (ii) if not sold to underwriters in such an offering commencing on the first day of the first fiscal quarter after the effective date of a Registration Statement, which statement shall cover said
period, consistent with the requirements of Rule 158; and 
 (o) Use commercially reasonable efforts to take all other
steps reasonably necessary to effect the registration, offering and sale of the Registrable Securities covered by the Registration Statement. 

  
 35 

 11.2. Information Required by the Company. The Company may require each Selling
Holder as to which any registration is being effected to furnish to the Company such information regarding the distribution of such Registrable Securities as is required by law to be disclosed in the applicable Registration Statement, and the
Company may exclude from such registration the Registrable Securities of any Selling Holder who unreasonably fails to furnish such information promptly after receiving such request. 

11.3. Requests by the Holder. If any such Registration Statement refers to any Selling Holder by name or otherwise as the holder
of any securities of the Company, then such Selling Holder shall have the right to require (i) the insertion therein of language, in form and substance reasonably satisfactory to such Selling Holder, to the effect that the holding by such
Selling Holder of such securities is not to be construed as a recommendation by such Selling Holder of the investment quality of the Company’s securities covered thereby and that such holding does not imply that such Selling Holder will assist
in meeting any future financial requirements of the Company, or (ii) in the event that such reference to such Selling Holder by name or otherwise is not required by the Securities Act or any similar federal statute then in force, the deletion
of the reference to such Selling Holder in any amendment or supplement to the Registration Statement filed or prepared subsequent to the time that such reference ceases to be required. 

11.4. Indemnification. 
 (a) Indemnification by the Company. The Company agrees to indemnify and hold harmless each Selling Holder and each Person, if any, who controls such Selling Holder within the meaning of the
Securities Act or the Exchange Act (each Selling Holder and such controlling Persons are referred to collectively as the “Selling Holder Indemnified Parties”) from and against any losses, claims, damages or liabilities, joint or
several, or any actions in respect thereof (including, but not limited to, any losses, claims, damages, liabilities or actions relating to purchases and sales of the Registrable Securities) to which each Selling Holder Indemnified Party may become
subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, claims, damages, liabilities or actions arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in a
Registration Statement or Prospectus or in any amendment or supplement thereto or in any preliminary prospectus relating to a shelf registration, or arise out of, or are based upon, the omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not misleading, and shall reimburse, as incurred, the Selling Holder Indemnified Parties for any legal or other expenses reasonably incurred by them in connection with
investigating or defending any such loss, claim, damage, liability or action in respect thereof; provided, that the Company shall not be liable in any such case to the extent that such loss, claim, damage or liability arises out of or is
based upon any untrue statement or alleged untrue statement or omission or alleged omission made in a Registration Statement or Prospectus or in any amendment or supplement thereto or in any preliminary prospectus relating to a shelf registration in
reliance upon and in conformity with written information pertaining to such Selling Holder and furnished to the Company by or on behalf of such Selling Holder specifically for inclusion therein. 

(b) Indemnification by Selling Holder. The Selling Holders shall indemnify and hold harmless the Company and each Person, if any,
who controls the Company within the 

  
 36 

 
meaning of the Securities Act or the Exchange Act (the Company and such controlling Persons are referred to collectively as the “Company Indemnified Parties”) from and against
any losses, claims, damages or liabilities, joint or several, or any actions in respect thereof (including, but not limited to, any losses, claims, damages, liabilities or actions relating to purchases and sales of the Registrable Securities) to
which each Company Indemnified Party may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such losses, claims, damages, liabilities or actions arise out of or are based upon any untrue statement or alleged untrue
statement of a material fact contained in a Registration Statement or Prospectus or in any amendment or supplement thereto or in any preliminary prospectus relating to a shelf registration, or arise out of, or are based upon, the omission or alleged
omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, to the extent, but only to the extent, that such losses resulted solely from an untrue statement or alleged untrue
statement of a material fact or omission or alleged omission of a material fact contained in or omitted from an information so furnished in writing by such Selling Holder to the Company expressly for use therein. 

Section 12. Notices to Warrant Holders. 
 12.1. Notice of Adjustment in Exercise Price. Upon any adjustment of the Exercise Price pursuant to Section 8 hereof, the Company shall promptly thereafter (i) cause to be filed
with the Warrant Agent a certificate of a firm of independent public accountants of recognized standing selected by the Board of Directors of the Company (who may be the regular auditors of the Company) setting forth the Exercise Price after such
adjustment and setting forth in reasonable detail the method of calculation and the facts upon which such calculations are based and setting forth the number of Warrant Shares (or portion thereof) issuable after such adjustment in the Exercise
Price, upon exercise of a Warrant and payment of the adjusted Exercise Price, which certificate shall be conclusive evidence of the correctness of the matters set forth therein, and (ii) cause to be given to each of the registered Holders of
Warrants at the address appearing on the Warrant register for each such registered Holder written notice of such adjustments by first-class mail, postage prepaid. Where appropriate, such notice may be given in advance and included as a part of the
notice required to be mailed under the other provisions of this Section 12. 
 12.2. Notice of Specific
Events. In the event: 
 (a) that the Company shall authorize the issuance of rights, options or warrants to subscribe for
or purchase shares of Common Stock or of any other subscription rights or warrants; 
 (b) that the Company shall authorize a
dividend or distribution to all holders of shares of Common Stock; 
 (c) of any consolidation or merger to which the Company is
a party and for which approval of any stockholders of the Company is required, or of the conveyance or transfer of the properties and assets of the Company substantially as an entirety, or of any reclassification or change of Common Stock issuable
upon exercise of the Warrants (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination), or a tender offer or exchange offer by the Company for shares of
Common Stock; 

  
 37 

 (d) of the voluntary or involuntary dissolution, liquidation or winding up of the Company;

 (e) that the Company proposes to take any action that would require an adjustment of the Exercise Price pursuant to
Section 8 hereof; 
 (f) of any Change of Control; 

(g) of any refinancing, redemption, retirement or satisfaction and discharge of all outstanding Notes; or 

(h) of any Liquidity Event; 

then the Company shall cause to be filed with the Warrant Agent and shall cause to be given to each registered Holder of Warrants at his address
appearing on the Warrant register, at least 10 Business Days prior to the applicable record date hereinafter specified (or in the case of events for which there is no record date, 10 Business Days prior to the later of the date of such event or
the date the Company first has knowledge of such event), by electronic transmission or first-class mail, postage prepaid, a written notice stating the date such event will occur and, to the extent applicable, (x) the date as of which the
holders of record of shares of Common Stock to be entitled to receive any such dividend or distribution are to be determined, (y) the initial expiration date set forth in any tender offer or exchange offer for shares of Common Stock or
(z) the date on which any such consolidation, merger, conveyance, transfer, dissolution, liquidation, winding up or other transaction is expected to become effective or be consummated, and the date as of which it is expected that holders of
record of shares of Common Stock shall be entitled to exchange such shares for securities or other property, if any, deliverable upon such reclassification, consolidation, merger, conveyance, transfer, dissolution, liquidation or winding up or other
transactions. The failure to give the notice required by this Section 12 or any defect therein shall not affect the legality or validity of any distribution, right, option, warrant, consolidation, merger, conveyance, transfer,
dissolution, liquidation or winding up, or the vote upon any action. 
 Section 13. Merger, Consolidation or Change of
Name of Warrant Agent. 
 13.1. Merger or Consolidation. Any corporation into which the Warrant Agent may be merged
or with which it may be consolidated, or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party, or any corporation succeeding to the business of the Warrant Agent, shall be the successor to the
Warrant Agent hereunder without the execution or filing of any paper or any further act on the part of any of the parties hereto. In case at the time such successor to the Warrant Agent shall succeed to the agency created by this Agreement, and in
case at that time any of the Warrant Certificates shall have been countersigned but not delivered, any such successor to the Warrant Agent may adopt the countersignature of the original Warrant Agent; and in case at that time any of the Warrant
Certificates shall not have been countersigned, any successor to the Warrant Agent may countersign such Warrant Certificates either in the name of the predecessor Warrant Agent or in the name of the successor to the Warrant Agent; and in all such
cases such Warrant Certificates shall have the full force and effect provided in the Warrant Certificates and in this Agreement. 

  
 38 

 13.2. Change of Name. In case at any time the name of the Warrant Agent shall be
changed and at such time any of the Warrant Certificates shall have been countersigned but not delivered, the Warrant Agent whose name has been changed may adopt the countersignature under its prior name, and in case at that time any of the Warrant
Certificates shall not have been countersigned, the Warrant Agent may countersign such Warrant Certificates either in its prior name or in its changed name, and in all such cases such Warrant Certificates shall have the full force and effect
provided in the Warrant Certificates and in this Agreement. 
 Section 14. Warrant Agent. 

14.1. Terms and Conditions to Warrant Agent’s Duties and Obligations. The Warrant Agent undertakes the duties and obligations
expressly imposed by this Agreement upon the following terms and conditions, by all of which the Company and the Holders of Warrants, by their acceptance thereof, shall be bound: 

(a) The statements contained herein and in the Warrant Certificates shall be taken as statements of the Company, and the Warrant Agent
assumes no responsibility for the correctness of any of the same except such as describe the Warrant Agent or action taken or to be taken by it. The Warrant Agent assumes no responsibility with respect to the distribution of the Warrant Certificates
except as herein otherwise provided. 
 (b) The Warrant Agent shall not be responsible for any failure of the Company to comply
with any of the covenants contained in this Agreement or in the Warrant Certificates to be complied with by the Company. 
 (c)
The Warrant Agent may consult at any time with counsel satisfactory to it (who may be counsel for the Company) and the Warrant Agent shall incur no liability or responsibility to the Company or to any Holder of any Warrant Certificate in respect of
any action taken, suffered or omitted by it hereunder in good faith and in accordance with the written opinion or the written advice of such counsel. The Warrant Agent shall not be liable for any error of judgment made in good faith by any Officer
within its corporate trust department or a Person performing similar functions, unless it is proved that the Warrant Agent was negligent in ascertaining the pertinent facts. The Warrant Agent shall not be liable with respect to any action it takes
or omits to take in good faith in accordance with a direction received by it pursuant to this Agreement or which it reasonably believes to be authorized or within its rights or powers under this Agreement. The Warrant Agent may act through its
attorneys and agents and shall not be responsible for the misconduct or negligence of any agent appointed with due care. The duties of the Warrant Agent shall be determined solely by the express provisions of this Agreement and the Warrant Agent
need perform only those duties as are specifically set forth in this Agreement and no covenants or obligations shall be implied in or read into this Agreement against the Warrant Agent. The permissive right of the Warrant Agent to take any action
under this Agreement shall not be construed as a duty to so act. The Warrant Agent may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents or attorneys, and the Warrant Agent shall
not be responsible for any misconduct or negligence on the part of any agent or attorney appointed by it with due care hereunder. 

  
 39 

 (d) The Warrant Agent shall incur no liability or responsibility to the Company or to any
Holder of any Warrant Certificate for any action taken or not taken in reliance on any Warrant Certificate, certificate of shares or other written evidence of indebtedness, notice, resolution, waiver, statement, instrument, opinion, report, request,
direction, consent, order, certificate, or other paper, document or instrument believed by it to be genuine and to have been signed, sent or presented by the proper party or parties. The Warrant Agent shall not be bound to make any investigation
into the facts or matters stated in any such Warrant Certificate, certificate of shares or other evidence of indebtedness, notice, resolution, waiver, statement, instrument, opinion, report, request, direction, consent, order, certificate or other
paper or document, but the Warrant Agent, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit. 
 (e) The Company agrees to pay promptly to the Warrant Agent reasonable compensation for all services rendered by the Warrant Agent in the execution of this Agreement, to reimburse promptly the Warrant
Agent for all reasonable expenses, taxes and governmental charges and other charges of any kind and nature incurred by the Warrant Agent in the execution of this Agreement (including reasonable fees and expenses of counsel reasonably acceptable to
the Company). The Company shall indemnify the Warrant Agent against any and all losses, liabilities or expenses incurred by it arising out of or in connection with the acceptance or administration of its duties under this Agreement, including the
costs and expenses of enforcing this Agreement against the Company and defending itself against any claim (whether asserted by the Company or any Holder or any other Person) or liability in connection with the exercise or performance of any of its
powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to its negligence or bad faith. The Warrant Agent shall notify the Company promptly of any claim for which the Warrant Agent may seek indemnity.
Failure by the Warrant Agent to so notify the Company shall not relieve the Company of its obligations hereunder, unless and only to the extent the Company is materially prejudiced as a result thereof. The Company shall defend the claim and the
Warrant Agent shall cooperate in the defense; provided, that any settlement of a claim shall be approved in writing by the Warrant Agent, such approval shall not be unreasonably withheld, conditioned or delayed. The Company need not pay for
any settlement made without its consent, which consent shall not be unreasonably withheld, conditioned or delayed. The rights, privileges, protections, immunities and benefits given to the Warrant Agent, including, without limitation, its right to
be indemnified, are extended to, and shall be enforceable by, the Warrant Agent in each of its capacities hereunder, including the Warrant Agent’s Officers, directors, agents and employees, and each agent, custodian and other Person employed to
act hereunder. 
 (f) The Warrant Agent shall be under no obligation to institute any action, suit or legal proceeding or to
take any other action likely to involve expense unless the Company or one or more registered Holders of Warrants shall furnish the Warrant Agent with reasonable security and indemnity for any costs and expenses which may be incurred, but this
provision shall not affect the power of the Warrant Agent to take such action as it may consider proper, whether with or without any such security or indemnity. All rights of action under this Agreement or under any of the Warrants may be enforced
by the Warrant Agent without the 

  
 40 

 
possession of any of the Warrant Certificates or the production thereof at any trial or other proceeding relative thereto, and any such action, suit or proceeding instituted by the Warrant Agent
shall be brought in its name as Warrant Agent and any recovery of judgment shall be for the ratable benefit of the registered Holders of the Warrants, as their respective rights or interests may appear. Notwithstanding any of the provisions of this
Agreement, any Holder of a Warrant, without the consent of the Warrant Agent, may, in and for its own behalf, enforce, and may institute and maintain any suit, action or proceeding against the Company suitable to enforce, its right to exercise its
Warrants in the manner provided in such Warrants and in this Agreement. 
 (g) The Warrant Agent, and any stockholder, director,
Officer or employee of it, may buy, sell or deal in any of the Warrants or other securities of the Company or become pecuniarily interested in any transaction in which the Company may be interested, or contract with or lend money to the Company or
otherwise act as fully and freely as though it were not Warrant Agent under this Agreement. Nothing herein shall preclude the Warrant Agent from acting in any other capacity for the Company or for any other legal entity. 

(h) The Warrant Agent shall act hereunder solely as agent for the Company, and its duties shall be determined solely by the provisions
hereof. The Warrant Agent does not assume any obligation or relationship of agency or trust for or with any Holder of the Warrants. The Warrant Agent shall not be liable for anything which it may do or refrain from doing in connection with this
Agreement except for its own gross negligence or bad faith. 
 (i) The Warrant Agent shall not at any time be under any duty or
responsibility to any Holder of any Warrant Certificate to make or cause to be made any adjustment of the Exercise Price or to determine the Cashless Exercise Ratio or the number of the Warrant Shares or other securities or property deliverable as
provided in this Agreement, or to determine whether any facts exist which may require any of such adjustments, or with respect to the nature or extent of any such adjustments, when made, or with respect to the method employed in making the same
(including determinations or calculations with respect to the Fair Market Value of any capital stock of the Company). The Warrant Agent shall not be accountable with respect to the validity or value or the kind or amount of any Warrant Shares or of
any securities or property which may at any time be issued or delivered upon the exercise of any Warrant or with respect to whether any such Warrant Shares or other securities will when issued be validly issued and fully paid and nonassessable, and
makes no representation with respect thereto. 
 (j) The Warrant Agent shall not be required to risk or expend its own funds or
otherwise incur any liability (financial or otherwise) on the performance of its obligations and duties hereunder. The Warrant Agent shall not be required to give any bond or surety in respect of the performance or exercise of its powers or duties
hereunder. 
 (k) The obligations of the Company under this Section 14 shall survive the exercise and the expiration
of the Warrant Certificates or the resignation and removal of the Warrant Agent. 
 (l) The Warrant Agent shall not be under any
liability for interest on, and shall not be required to invest, any monies at any time received by it pursuant to any of the 

  
 41 

 
provisions of this Agreement or of the Warrant Certificates. Money and assets held in trust by the Warrant Agent need not be segregated from other funds or assets held by the Warrant Agent except
to the extent required by law. 
 (m) No Warrant Agent under this Agreement shall be personally liable for any action or
omission of any predecessor or successor Warrant Agent. 
 (n) As a condition to taking any action requested by the Company
under this Agreement, the Warrant Agent may request a certificate of an Officer of the Company to the effect that the requested action complies with the applicable provisions of this Agreement. 

(o) The Warrant Agent shall not incur any liability with respect to the validity of this Agreement (except as to the due execution hereof
by the Warrant Agent) or any Warrant Certificate (except as to the countersignature thereof by the Warrant Agent). 
 (p) The
Warrant Agent shall not be responsible for any of the recitals or representations contained herein (except as to such statements or recitals that describe the Warrant Agent or action taken or to be taken by it) or in any Warrant Certificate (except
as to the Warrant Agent’s countersignature on such Warrant Certificate). 
 (q) In no event shall the Warrant Agent be
responsible or liable for any failure or delay in the performance of its obligations under this Agreement arising out of or caused by, directly or indirectly, forces beyond its reasonable control, including without limitation strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software or hardware) services.

 (r) In no event shall the Warrant Agent be liable for special, indirect, punitive or consequential loss or damage of any kind
whatsoever (including but not limited to lost profits), even if the Warrant Agent has been advised of the likelihood of the loss or damage and regardless of the form of the action. 

(s) The Warrant Agent is hereby authorized to establish a non-interest bearing trust account to receive funds, if any, in connection with
the Election to Purchase. 
 Section 15. Change of Warrant Agent. 

If the Warrant Agent shall resign or become incapable of acting as Warrant Agent, the Company shall appoint a successor to such Warrant
Agent. If the Company shall fail to make such appointment within a period of 30 days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the registered Holder of a Warrant, then the registered Holder of
any Warrant may apply to any court of competent jurisdiction for the appointment of a successor to the Warrant Agent. Pending appointment of a successor to such Warrant Agent, either by the Company or by such court, the duties of the Warrant Agent
shall be carried out by the Company. The Holders of a majority of the unexercised Warrants shall be entitled at any time to remove the Warrant Agent and appoint a successor to such Warrant Agent. Such successor to the Warrant Agent shall be
reasonably acceptable to the Company. After appointment the successor to the Warrant Agent shall be vested with the same powers, rights, 

  
 42 

 
duties and responsibilities as if it had been originally named as Warrant Agent without further act or deed; provided, that the former Warrant Agent shall deliver and transfer to the
successor to the Warrant Agent any property at the time held by it hereunder and execute and deliver any further assurance, conveyance, act or deed necessary for the purpose upon written request therefor. Failure to give any notice provided for in
this Section 15, however, or any defect therein, shall not affect the legality or validity of the appointment of a successor to the Warrant Agent. 
 Section 16. Reports. 
 16.1. Available Upon Request of Holder.
The Company agrees with each Holder, for so long as any Warrants or Warrant Shares (to the extent the Warrant Shares then consist of securities of the Company) remain outstanding, to make available, upon request of any Holder, to such Holder or
beneficial owner of Warrants or Warrant Shares in connection with any sale thereof and any prospective purchaser of such Warrants or Warrant Shares designated by such Holder or beneficial owner, the information required by Rule 144(A)(d)(4) under
the Securities Act. 
 16.2. Copies to the Warrant Agent. The Company shall provide the Warrant Agent with a sufficient
number of copies of all such reports that the Warrant Agent may be required to deliver to the Holders of the Warrants and the Warrant Shares under this Section 16. 
 Section 17. CUSIP Numbers. 
 A CUSIP number shall be printed on the
Warrants, and the Warrant Agent shall use the CUSIP number in notices of redemption, purchase or exercise as a convenience to Holders; provided, that any such notice may state that no representation is made as to the correctness or accuracy
of the CUSIP number printed in the notice or on the Warrants and that reliance may be placed only on the other identification numbers printed on the Warrants. The Company shall promptly notify the Warrant Agent of any change in the CUSIP number.

 Section 18. Notices to Company and Warrant Agent. 

Any notice or demand authorized by this Agreement to be given or made by the Warrant Agent or by the registered Holder of any Warrant to
or on the Company shall be sufficiently given or made when received if deposited in the mail, first class or registered, postage prepaid, or sent by facsimile transmission, addressed (until another address is filed in writing by the Company with the
Warrant Agent) as follows: 
 Platinum Energy Solutions, Inc. 

2100 W. Loop South, Suite 1601 
 Houston, Texas 77027 
 Facsimile No.: (713) 590-2827 

Attention: Chief Financial Officer 

  
 43 

 With a copy to: 
 Kelley Drye & Warren LLP 
 333 West Wacker Drive, Suite 2600 

Chicago, Illinois 60606 
 Facsimile No.: (312) 857-7095 
 Attention: Timothy R. Lavender, Esq.

 In case the Company shall fail to maintain such office or agency or shall fail to give such notice of the location or of any
change in the location thereof, presentations may be made and notices and demands may be served at the corporate trust office of the Warrant Agent. 
 Any notice pursuant to this Agreement to be given by the Company or by the registered Holder(s) of any Warrant to the Warrant Agent shall be sufficiently given when and if deposited in the mail,
first-class or registered, postage prepaid, addressed (until another address is filed in writing by the Warrant Agent with the Company) , or sent by facsimile transmission, to and received by the Warrant Agent at its corporate trust office as
follows: 
 The Bank of New York Mellon Trust Company, N.A. 

601 Travis Street 16th Floor 
 Houston, TX 77002 
 Facsimile No.: (713) 483-7038 

Attention: Corporate Trust Administration 
 The Warrant Agent agrees to accept and act upon instructions or directions pursuant to this Agreement sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods
(including PDF files). If the party elects to give the Warrant Agent e-mail or facsimile instructions (or instructions by a similar electronic method) and the Warrant Agent in its discretion elects to act upon such instructions, the Warrant
Agent’s understanding of such instructions shall be deemed controlling. The Warrant Agent shall not be liable for any losses, costs or expenses arising directly or indirectly from the Warrant Agent’s reliance upon and compliance with such
instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The party providing electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit
instructions and directions to the Warrant Agent, including without limitation the risk of the Warrant Agent acting on unauthorized instructions, and the risk or interception and misuse by third parties. 

Section 19. Supplements and Amendments. 
 Any amendment or supplement to this Agreement that has an adverse effect on the interests of the Holders of Warrants shall require the written consent of the Holders of a majority of the then outstanding
Warrants (excluding Warrants held by the Company or any of its Affiliates), provided, however, that the Company and the Warrant Agent may from time to time supplement or amend this Agreement without the approval of any Holders of Warrants in order
to cure any ambiguity or to correct or supplement any provision contained herein which may be defective or inconsistent with any other provision herein. The consent of each Holder of Warrants affected shall be required for any amendment (a) of
this Section 19, (b) pursuant to which the Exercise Price would be increased, and (c) the number of Warrant Shares purchasable upon exercise of Warrants would be decreased (other than pursuant to adjustments provided in this
Agreement). 

  
 44 

 Section 20. Successors. 

All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the
benefit of their respective successors and assigns hereunder. 
 Section 21. Termination. 

This Agreement shall terminate at 5:00 p.m., New York City time on the Expiration Date. 

Section 22. Governing Law. 
 22.1. State of New York. This Agreement and each Warrant Certificate issued hereunder shall be deemed to be a contract made under the laws of the State of New York, without regard to principles of
conflicts of laws, and for all purposes shall be construed in accordance with the internal laws of said State. 
 22.2.
Jurisdiction. Each of the parties hereto irrevocably consents to the non-exclusive jurisdiction of Supreme Court of New York, New York County and the United States District Court for the Southern District of New York, New York County and
waives trial by jury in any action or proceeding with respect to this Agreement. 
 Section 23. Benefits of this
Agreement. 
 Nothing in this Agreement shall be construed to give to any Person or corporation other than the Company, the
Warrant Agent and the registered Holders of Warrants any legal or equitable right, remedy or claim under this Agreement. This Agreement shall be for the sole and exclusive benefit of the Company, the Warrant Agent and the registered Holders of
Warrants. 
 Section 24. Counterparts. 
 This Agreement may be executed in any number of counterparts, and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute one and
the same instrument. 

  
 45 

 [The remainder of this page has been intentionally left blank.] 

  
 46 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the day and year first above written. 
  

					
	PLATINUM ENERGY SOLUTIONS, INC.
		
	By:	 	 /s/ J. Clarke Legler, II

		 	 Name: J. Clarke Legler, II

		 	 Title: Chief Financial Officer

	
	 THE BANK OF NEW YORK MELLON
 TRUST COMPANY, N.A.
 as Warrant Agent

		
	By:	 	 /s/ Marcella Burgess

		 	Name:	 	 Marcella Burgess

		 	Title:	 	 Vice President

 EXHIBIT A 
 [Form of Warrant Certificate] 
 Reference is hereby made to the Warrant
Agreement, dated as of March 3, 2011 (the “Warrant Agreement”), between Platinum Energy Solutions, Inc., as issuer (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as Warrant Agent (the
“Warrant Agent”). Capitalized terms used but not defined herein have the meaning ascribed to such terms in the Warrant Agreement. 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION
HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION. 

THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN
RULE 144A UNDER THE SECURITIES ACT), (B) IT IS A NON-U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, OR (C) IT IS AN INSTITUTIONAL “ACCREDITED
INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (A)(1), (2), (3) OR (7) OF RULE 501 UNDER THE SECURITIES ACT, AS AMENDED AND (2) AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE
RESTRICTION TERMINATION DATE”) WHICH IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) ONLY
(A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (B) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT, THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHICH NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (C) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS
THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (D) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF SUBPARAGRAPH (A)(1),(2), (3) OR (7) OF RULE 501 UNDER THE
SECURITIES ACT, AS AMENDED THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION
IN VIOLATION OF THE SECURITIES ACT, (E) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT, SUBJECT TO 

  
 A-1

 
THE ISSUER’S AND THE TRUSTEE’S, OR REGISTRAR’S, AS APPLICABLE, RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (C), (D) OR (F) TO REQUIRE THE DELIVERY
OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND IN EACH OF THE FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS SECURITY IS COMPLETED AND DELIVERED BY THE
TRANSFEROR TO THE TRUSTEE OR REGISTRAR. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 
 The securities represented by this certificate constitute a portion of one or more Units, each Unit consisting of $1,000 of principal amount of 14.250% Senior Secured Notes due 2015 of the Company and one
Warrant to purchase shares of Common Stock of the Company; the Warrants represent in the aggregate 15% of the outstanding shares of the Company’s common stock on a fully-diluted basis, as of immediately following the consummation of the
Offering and the Concurrent Equity Offering, subject to adjustment 
 Until the Separation Date, the securities represented by
this certificate may be transferred only together as a Unit. Following the Separation Date, the securities represented by this certificate may be transferred without reference to the foregoing restriction. 

This Global Warrant is held by the Depositary or its nominee in custody for the benefit of the beneficial owners hereof, and is not
transferable to any Person under any circumstances except that (i) the Warrant Agent may make such notations hereon as may be required pursuant to Section 3.5 of the Warrant Agreement, (ii) this Global Warrant may be exchanged in
whole but not in part pursuant to Section 3.5(a) of the Warrant Agreement, (iii) this Global Warrant may be delivered to the Warrant Agent for cancellation pursuant to Section 3.8 of the Warrant Agreement and (iv) this Global
Warrant may be transferred to a successor Depositary with the prior written consent of the Company. 

  
 A-2

 PLATINUM ENERGY SOLUTIONS, INC. 

WARRANT CERTIFICATE 
  

					
	CUSIP No.	 	 	  	 
	No.	 		  	                     Warrants

 Reference is hereby made to the Warrant Agreement, dated as of March 3, 2011 (the “Warrant
Agreement”), between Platinum Energy Solutions, Inc., as issuer (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as Warrant Agent (the “Warrant Agent”). Capitalized terms used but not
defined herein have the meaning ascribed to such terms in the Warrant Agreement. 
 This Warrant Certificate certifies that
                            , or its registered assigns, is the registered Holder of
                     Warrants to purchase shares of Common Stock, par value $0.001 of Platinum Energy Solutions, Inc., a Nevada corporation. Each
Warrant entitles the registered Holder upon exercise at any time during the Exercise Period to receive from the Company 121.79 fully paid and nonassessable shares of Common Stock at the initial Exercise Price of $0.01 per share, payable upon
surrender of this Warrant Certificate and payment of the Exercise Price at the office or agency of the Warrant Agent, but only subject to the conditions set forth herein and in the Warrant Agreement (as hereinafter defined) referred to on the
reverse hereof. The Exercise Price and number of Warrant Shares issuable upon exercise of the Warrants are subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement. 

No Warrant may be exercised after the Expiration Date. To the extent not exercised by such time, any such Warrant shall become void.

 Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such
further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 This Warrant
Certificate shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement. 
 This
Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York, without regard to principles of conflicts of laws. 
 * * * * * * * * * 

  
 A-3

 IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to be signed below.

 DATED: [                 , 20    ]

  

			
	PLATINUM ENERGY SOLUTIONS, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Countersigned:
	
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. as Warrant
Agent

			
		
	By:	 	  

		 	Authorized Signatory

  
 A-4

 [Reverse of Warrant Certificate] 

The Warrants evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the Holder on exercise to
receive shares of Common Stock, and are issued or to be issued pursuant to a Warrant Agreement, duly executed and delivered by the Company to the Warrant Agent, which is hereby incorporated by reference in and made a part of this instrument and is
hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company and the Holders of the Warrants. A copy of the Warrant Agreement may be obtained by the Holder
hereof upon written request to the Company. 
 Warrants may be exercised during the Exercise Period and at any time on or before
the Expiration Date. In order to exercise all or any of the Warrants represented by this Warrant Certificate, the Holder must deliver to the Warrant Agent at its corporate trust office set forth in Section 18 of the Warrant Agreement this
Warrant Certificate and the form of election to purchase on the reverse hereof duly completed and signed, which signature shall be medallion guaranteed by an institution which is a member of a securities transfer association recognized signature
guarantee program, together with any other documents or certifications as may be required under the Warrant Agreement with respect to such exercise and upon payment to the Warrant Agent for the account of the Company of the Exercise Price, for the
number of Warrant Shares in respect of which such Warrants are then exercised. No adjustment shall be made for any dividends on any Common Stock issuable upon exercise of this Warrant. 

The Warrant Agreement provides that upon the occurrence of certain events the Exercise Price set forth on the face hereof may, subject to
certain conditions, be adjusted. If the Exercise Price is adjusted, the Warrant Agreement provides that the number of shares of Common Stock issuable upon the exercise of each Warrant shall be adjusted. No fractions of a share of Common Stock will
be issued upon the exercise of any Warrant, but the Company shall pay the cash value thereof determined as provided in the Warrant Agreement. 
 Subject to certain limitations, the Company has agreed to provide the Holders certain “piggyback” registration rights if at any time after the date of the Warrant Agreement the Company proposes
to file a Registration Statement with respect to an offering of its Common Stock. 
 Warrant Certificates, when surrendered at
the corporate trust office of the Warrant Agent by the registered Holder thereof in Person or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant
Agreement, but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants. 

Upon due presentation for registration of transfer of this Warrant Certificate at the corporate trust office of the Warrant Agent a new
Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant
Agreement, without charge except for any tax or other governmental charge imposed in connection therewith. 

  
 A-5

 Each Holder, by its acceptance of this Warrant, agrees to be bound by the terms of the
Warrant Agreement, and all such replacements thereof, and each Holder hereby authorizes the Warrant Agent to bind the Holders to the extent provided in the Warrant Agreement. 
 The Company and the Warrant Agent may deem and treat the registered Holder(s) thereof as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or other writing
hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the Holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. Neither the
Warrants nor this Warrant Certificate entitle any Holder hereof to any rights of a stockholder of the Company. 

  
 A-6

 [Form of Election to Purchase 

and 
 Joinder to
the Stockholders Agreement] 
 (To Be Executed Upon Exercise Of Warrant) 

Reference is hereby made to the Warrant Agreement, dated as of March 3, 2011 (the “Warrant Agreement”), between
Platinum Energy Solutions, Inc., as issuer (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as Warrant Agent (the “Warrant Agent”). Capitalized terms used but not defined herein have the meaning
ascribed to such terms in the Warrant Agreement. 
 Reference is hereby further made to the Stockholders Agreement, dated as of
March 3, 2011 (as amended from time to time, the “Stockholders Agreement”), by and among the Company and the stockholders signatory thereto. 
 Now therefore, the undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive
             shares of Common Stock and herewith tenders payment for such shares to the order of PLATINUM ENERGY SOLUTIONS, INC., in the form of cash, Warrants having a Fair Market Value
equal to the Exercise Price, or any combination of cash and Warrants in accordance with the terms hereof. The undersigned requests that a certificate for such shares be registered in the name of
                            , whose address is
                             and that such shares be delivered to
                            , whose address is
                                        . If said
number of shares is less than all of the shares of Common Stock purchasable hereunder, the undersigned requests that a new Warrant Certificate representing the remaining balance of such shares be registered in the name of
                            , whose address is
                            , and that such Warrant Certificate be delivered to
                            , whose address is
                            . 
 The undersigned further acknowledges and agrees (i) that as a condition to the exercise of the rights represented by this Warrant Certificate, each Holder of a Warrant not a party to the Stockholders
Agreement shall agree to join the Stockholders Agreement by delivering this Joinder to the Stockholders Agreement; (ii) to be bound by all covenants, agreements, acknowledgments, provisions, representations and warranties (including, but not
limited to, covenants, agreements, acknowledgments, provisions, representations and warranties relating to “preemptive rights”, “piggy-back registration rights”, “tag-along rights” and “drag-along” rights)
pertaining to a Stockholder (as such term is defined in the Stockholders Agreement) signatory to the Stockholders Agreement; and (iii) perform all obligations and duties required of a Stockholder pursuant to such Stockholders Agreement.

 [remainder of page left intentionally blank.] 

  
 A-7

			
	 	 	  

	 	 	Signature
		
	 Date:
	 	
		
		 	  

		 	Signature Guaranteed

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

  
 A-8

 EXHIBIT B 
 FORM OF SEPARATION NOTICE 
 The Bank of New York Mellon Trust Company, N.A. 

601 Travis Street, 16th Floor 

Houston, Texas 77002 
 Attention: Corporate Trust
Administration 
 Re: Separation Date of Notes and Warrants of Platinum Energy Solutions, Inc. 

Reference is hereby made to the Warrant Agreement, dated as of March 3, 2011 (the “Warrant Agreement”), between
Platinum Energy Solutions, Inc. as issuer (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as Warrant Agent (in such capacity, the “Warrant Agent”), and the Indenture (the
“Indenture”), dated as of March 3, 2011 between the Company, Platinum Pressure Pumping, Inc. and The Bank of New York Mellon Trust Company, N.A., as Trustee (in such capacity, the “Trustee”). Capitalized terms
used but not defined herein have the meaning ascribed to such terms in the Warrant Agreement or the Indenture. 
 Pursuant to
the terms of the Warrant Agreement and the Indenture, either Global Hunter Securities, LLC or Knight Capital Americas, L.P. shall determine the Separation Date of the Notes and Warrants. This letter shall serve as notice that the Separation Date of
the Notes and Warrants is
[                                        ]. Upon
this date, any Note may be transferred separately from the Warrant. Each Unit consists of $1,000 principal amount at maturity Note and one Warrant to purchase common stock of the Company. The separation is a mandatory event and upon separation, the
Units will cease to trade and they cannot be recombined after separation. 
 Under Rule 144A, the Company issued
[            ] Units, CUSIP number 727663 AC0, which will split into $[            ] Notes, CUSIP number 727663 AA4 and
[            ] Warrants, CUSIP number 727663 114. 
 Under
Regulation S, the Company issued [            ] Units, CUSIP number U72633 AB3, which will split into $[            ] Notes,
CUSIP number U72633 AA5 and [            ] Warrants, CUSIP number U72633 115. 
 Under Regulation D under the Securities Act, the Company issued [            ] Units, CUSIP number 727663 AD8, which will split into
$[            ] Notes, CUSIP number 727663 AB2 and [            ] Warrants, CUSIP number 727663 122. 

The contact party for the agent is [            ], at The Bank of New York
Mellon Trust Company, N.A. [            ] can be reached at [            ] or
[            ]. 

  
 B-1

 
			
	Very truly yours,
	
	[GLOBAL HUNTER SECURITIES, LLC]
	
	[KNIGHT CAPITAL AMERICAS, L.P.]
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 B-2

 EXHIBIT C 
 [Reserved.] 

  
 C-1

 EXHIBIT D 
 PLATINUM ENERGY SOLUTIONS, INC. 
 WARRANT COUNTERSIGNATURE ORDER

 The Bank of New York Mellon Trust Company, N.A. 
 601 Travis Street 16th Floor 
 Houston, TX 77002 
 Facsimile No.: (713) 483-7038 
 Attention: Corporate Trust Administration 

Re:
                             Warrants to purchase Common Stock 

Ladies and Gentlemen: 

Pursuant to Section 3.2 of the Warrant Agreement, dated as March 3, 2011 (the “Warrant Agreement”), among
Platinum Energy Solutions, Inc., a Nevada corporation (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as warrant agent (in such capacity, the “Warrant Agent”), relating to the Company’s
115,000 Warrants to purchase its Common Stock, you are hereby directed (i) to countersign on                  ,         , in
the manner provided in the Warrant Agreement, the number of Warrants set forth above, heretofore duly executed by a proper Officer of the Company and delivered to you as provided in the Warrant Agreement, (ii) to deliver such countersigned
Warrants in the denominations and registered in the names heretofore requested by the Company and (iii) to hold the certificates representing the Warrants, as custodian for The Depository Trust Company. 

Capitalized terms used but not defined herein have the meaning ascribed to such terms in the Warrant Agreement. 

 

			
	Very truly yours,
	
	PLATINUM ENERGY SOLUTIONS, INC.
		
	By:	 	  

		 	Name:
		 	Title:

  
 D-1

 EXHIBIT E 
 FORM OF CERTIFICATE OF TRANSFER 
 Platinum Energy Solutions, Inc. 

2100 W. Loop South, Suite 
 1601 Houston, TX
77027 
 Attention: [                    ]

 The Bank of New York Mellon Trust Company, N.A. 
 601 Travis Street 16th Floor 
 Houston, TX 77002 
 Facsimile No.: (713) 483-7038 
 Attention: Corporate Trust Administration 

Re: Warrants to Purchase Common Stock of Platinum Energy Solutions, Inc. 

Reference is hereby made to the Warrant Agreement, dated as of March 3, 2011 (the “Warrant Agreement”), between
Platinum Energy Solutions, Inc., as issuer (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as Warrant Agent (the “Warrant Agent”). Capitalized terms used but not defined herein have the meaning
ascribed to such terms in the Warrant Agreement. 

                       
      (the “Transferor”) owns and proposes to transfer the              Warrant[s] or an interest in such Warrant[s] specified in Annex A
hereto (the “Transfer”) to
                                         (the
“Transferee”), as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies that: 
 [CHECK ALL THAT APPLY] 
 1.  ̈
Check if Transferee Will Take Delivery of a Beneficial Interest in the QIB Global Warrant or a Definitive Warrant Pursuant to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the United States
Securities Act of 1933, as amended (the “Securities Act”), and accordingly, the Transferor hereby further certifies that the beneficial interest or Definitive Warrant is being transferred to a Person that the Transferor reasonably
believed and believes is purchasing the beneficial interest or Definitive Warrant for its own account, or for one or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a
“qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A and such Transfer is in compliance with any applicable “blue sky” securities laws of any state of the United
States. Upon consummation of the proposed Transfer in accordance with the terms of the Warrant Agreement, the transferred beneficial interest or Definitive Warrant will be subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the QIB Global Warrant and/or the Definitive Warrant, and in the Warrant Agreement and the Securities Act. 

  
 E-1

 2.  ̈ Check if Transferee Will Take
Delivery of a Beneficial Interest in the Regulation S Global Warrant or a Definitive Warrant Pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and
accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a Person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such Transferor
and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market, and neither
such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or Rule 904(b)
of Regulation S under the Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the
Restricted Period (as defined under Regulation S), the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person and will be held immediately after the transfer through Euroclear or Clearstream. Upon consummation of
the proposed transfer in accordance with the terms of the Warrant Agreement, the transferred beneficial interest or Definitive Warrant will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on the
Regulation S Global Warrant and/or the Definitive Warrant, and in the Warrant Agreement and the Securities Act. 
 3.  ̈ Check and Complete if Transferee Will Take Delivery of a Beneficial Interest in the IAI Global Warrant or a Definitive Warrant Pursuant to any Provision of the Securities Act other than Rule 144A or
Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial interests in Restricted Global Warrants and Restricted Definitive Warrants and pursuant to and in accordance with the Securities
Act and any applicable “blue sky” securities laws of any state of the United States, and accordingly, the Transferor hereby further certifies that (check one): 

(a)  ̈ such Transfer is being effected pursuant to and in accordance with
Rule 144 under the Securities Act; or 
 (b)  ̈ such Transfer
is being effected to the Company or a Subsidiary thereof; or 
 (c)
 ̈ such Transfer is being effected to an Institutional Accredited Investor and pursuant to an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144 or Rule
904, and the Transferor hereby further certifies that it has not engaged in any general solicitation within the meaning of Regulation D under the Securities Act, and the Transfer complies with the transfer restrictions applicable to beneficial
interests in a Restricted Global Warrant or Restricted Definitive Warrants and the requirements of the exemption claimed, which certification is supported by (1) a certificate executed by the Transferee in the form of Exhibit G to the
Warrant Agreement and (2) if the Company requests, an Opinion of Counsel provided by the Transferor or the Transferee (a copy of which the Transferor is attached to this certification), to the effect that such Transfer is in compliance with the
Securities Act. Upon consummation of the proposed transfer in accordance with the terms of the Warrant 

  
 E-2

 
Agreement, the transferred beneficial interest or Definitive Warrant will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the IAI Global Warrant
and/or the Definitive Warrants, and in the Warrant Agreement and the Securities Act. 
 4.
 ̈ Check if Transferee Will Take Delivery of a Beneficial Interest in an Unrestricted Global Warrant or of an Unrestricted Definitive Warrant. 

(a)  ̈ Check if Transfer is Pursuant to Rule 144. (i) The
Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Warrant Agreement and any applicable “blue sky” securities laws of any state
of the United States and (ii) the restrictions on transfer contained in the Warrant Agreement and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer
in accordance with the terms of the Warrant Agreement, the transferred beneficial interest or Definitive Warrant will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global
Warrants, on the Restricted Definitive Warrants and in the Warrant Agreement. 
 (b)  ̈ Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the
transfer restrictions contained in the Warrant Agreement and any applicable “blue sky” securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Warrant Agreement and the Private
Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Warrant Agreement, the transferred beneficial interest or Definitive Warrant
will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Warrants, on the Restricted Definitive Warrants and in the Warrant Agreement. 

(c)  ̈ Check if Transfer is Pursuant to Another Exemption.
(i) The Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer restrictions contained in
the Warrant Agreement and any applicable “blue sky” securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Warrant Agreement and the Private Placement Legend are not required in order
to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Warrant Agreement, the transferred beneficial interest or Definitive Warrant will not be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Global Warrants or the Restricted Definitive Warrants and in the Warrant Agreement. 

  
 E-3

 This certificate and the statements contained herein are made for your benefit and the
benefit of the Company. 
  

			
	[Insert Name of Transferor]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Dated:	 	

  
 E-4

 ANNEX A TO CERTIFICATE OF TRANSFER 

5. The Transferor owns and proposes to transfer the following: 
 [CHECK EITHER (a) OR (b)] 
  

	 	(a)	 ̈ a beneficial interest in the: 

 

	 	(i)	 ̈ QIB Global Warrant or 

  

	 	(ii)	 ̈ Regulation S Global Warrant, or 

 

	 	(iii)	 ̈ IAI Global Warrant, or 

  

	 	(b)	 ̈ a Restricted Definitive Warrant. 

6. After the Transfer the Transferee will hold: 
 [CHECK ONE] 
  

	 	(a)	 ̈ a beneficial interest in the: 

 

	 	(i)	 ̈ QIB Global Warrant, or 

  

	 	(ii)	 ̈ Regulation S Global Warrant, or 

 

	 	(iii)	 ̈ Unrestricted Global Warrant, or 

 

	 	(iv)	 ̈ Regulation S Global Warrant, or 

 

	 	(b)	 ̈ a Restricted Definitive Warrant, or 

 

	 	(c)	 ̈ an Unrestricted Definitive Warrant, 

in accordance with the terms of the Warrant Agreement. 

  
 E-5

 EXHIBIT F 
 FORM OF CERTIFICATE OF EXCHANGE 
 Platinum Energy Solutions, Inc. 

2100 W. Loop South, Suite 1601 
 Houston, TX
77027 
 Attention: [                    ]

 The Bank of New York Mellon Trust Company, N.A. 
 601 Travis Street 16th Floor 
 Houston, TX 77002 
 Facsimile No.: (713) 483-7038 
 Attention: Corporate Trust Administration 

Re: Warrants to Purchase Common Stock of Platinum Energy Solutions, Inc. 

(CUSIP                     )

 Reference is hereby made to the Warrant Agreement, dated as of March [3], 2011 (the “Warrant Agreement”),
between Platinum Energy Solutions, Inc., as issuer (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as Warrant Agent (the “Warrant Agent”). Capitalized terms used but not defined herein have the
meaning ascribed to such terms in the Warrant Agreement. 

                       
                 , (the “Owner”) owns and proposes to exchange
                     Warrant[s] or interests in such Warrant[s] specified herein (the “Exchange”). In connection with the Exchange,
the Owner hereby certifies that: 
 1. Exchange of Restricted Definitive Warrants or Beneficial Interests in a Restricted
Global Warrant for Unrestricted Definitive Warrants or Beneficial Interests in an Unrestricted Global Warrant. 
 (a)  ̈ Check if Exchange is from a Beneficial Interest in a Restricted Global Warrant to a Beneficial Interest in an Unrestricted Global Warrant. In
connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Warrant for a beneficial interest in an Unrestricted Global Warrant in an equal principal amount, the Owner hereby certifies that: (i) the beneficial
interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global Warrants and pursuant to and in accordance with the United
States Securities Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Warrant Agreement and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the beneficial interest in an Unrestricted Global Warrant is being acquired in compliance with any applicable “blue sky” securities laws of any state of the United States. 

  
 F-1

 (b)  ̈ Check if Exchange
is from a Beneficial Interest in a Restricted Global Warrant to an Unrestricted Definitive Warrant. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Warrant for an Unrestricted Definitive Warrant,
the Owner hereby certifies that: (i) the Definitive Warrant is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted
Global Warrants and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Warrant Agreement and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the Definitive Warrant is being acquired in compliance with any applicable “blue sky” securities laws of any state of the United States. 

(c)  ̈ Check If Exchange Is from a Restricted Definitive Warrant to a
Beneficial Interest in an Unrestricted Global Warrant. In connection with the Owner’s Exchange of a Restricted Definitive Warrant for a beneficial interest in an Unrestricted Global Warrant, the Owner hereby certifies that: (i) the
beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Warrants and pursuant to and in
accordance with the Securities Act, (iii) the restrictions on transfer contained in the Warrant Agreement and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial
interest is being acquired in compliance with any applicable “blue sky” securities laws of any state of the United States. 
 (d)  ̈ Check if Exchange is from a Restricted Definitive Warrant to an Unrestricted Definitive Warrant. In connection with the Owner’s Exchange
of a Restricted Definitive Warrant for an Unrestricted Definitive Warrant, the Owner hereby certifies that: (i) the Unrestricted Definitive Warrant is being acquired for the Owner’s own account without transfer, (ii) such Exchange has
been effected in compliance with the transfer restrictions applicable to Restricted Definitive Warrants and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Warrant Agreement and the
Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Definitive Warrant is being acquired in compliance with any applicable “blue sky” securities laws of any state
of the United States. 
 2. Exchange of Restricted Definitive Warrants or Beneficial Interests in Restricted Global Warrants
for Restricted Definitive Warrants or Beneficial Interests in Restricted Global Warrants. 
 (a)  ̈ Check if Exchange is from a Beneficial Interest in a Restricted Global Warrant to a Restricted Definitive Warrant. In connection with the Exchange of the Owner’s beneficial interest in a
Restricted Global Warrant for a Restricted Definitive Warrant in a number equal to the number of beneficial interests exchanged, the Owner hereby certifies that the Restricted Definitive Warrant is being acquired for the Owner’s own account
without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Warrant Agreement, the Restricted Definitive Warrant 

  
 F-2

 
issued will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Warrant and in the Warrant Agreement and the
Securities Act. 
 (b)  ̈ Check if Exchange is from a
Restricted Definitive Warrant to a Beneficial Interest in a Restricted Global Warrant. In connection with the Exchange of the Owner’s Restricted Definitive Warrant for a beneficial interest in the [CHECK ONE]  ̈ QIB Global Warrant,  ̈ Regulation S Global Warrant,  ̈ IAI Global Warrant in a number equal to the number of
beneficial interests exchanged, the Owner hereby certifies that: (i) the beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer
restrictions applicable to the Restricted Global Warrants, pursuant to and in accordance with the Securities Act and in compliance with any applicable “blue sky” securities laws of any state of the United States. Upon consummation of the
proposed Exchange in accordance with the terms of the Warrant Agreement, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Warrant and
in the Warrant Agreement and the Securities Act. 
 This certificate and the statements contained herein are made for your
benefit and the benefit of the Company. 
  

			
	[Insert Name of Transferor]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Dated:	 	

  
 F-3

 EXHIBIT G 
 FORM OF CERTIFICATE FROM 
 ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

 Global Hunter Securities, LLC 

400 Poydras Street, Suite 3100 
 New Orleans, LA
70130 
 The Bank of New York Mellon Trust Company, N.A. 
 601 Travis Street 16th Floor 
 Houston, TX 77002 
 Facsimile No.: (713) 483-7038 
 Attention: Corporate Trust Administration 

 

	 	Re:	Warrants to Purchase Common Stock of Platinum Energy Solutions, Inc. 

 Reference is hereby made to the Warrant Agreement, dated as of March 3, 2011(the “Warrant Agreement”), between Platinum Energy Solutions, Inc., as issuer (the
“Company”), and The Bank of New York Mellon Trust Company, N.A., as Warrant Agent (the “Warrant Agent”). Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Warrant
Agreement. 
 In connection with our proposed purchase of: 

(a)  ̈ a beneficial interest in a Global Warrant representing the right to acquire
                     Warrant Shares, or 
 (b)  ̈ a Definitive Warrant representing the right to acquire
                     Warrant Shares, 
 we
confirm that: 
 1. We understand that any subsequent transfer of the Warrants, Warrant Shares or any interest therein is
subject to certain restrictions and conditions set forth in the Warrant Agreement, and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer the Warrants, Warrant Shares or any interest therein except in compliance
with such restrictions and conditions and the United States Securities Act of 1933, as amended (the “Securities Act”). 
 2. We understand that the offer and sale of the Warrants and Warrant Shares have not been registered under the Securities Act, and that the Warrants, Warrant Shares and any interest therein may not be
offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we are acting as hereinafter stated, that if we should sell the Warrants, the Warrant Shares or any interest therein,
we will do so only (A) to the Company or any Subsidiary thereof, (B) in accordance with Rule 144A under the Securities Act to a “qualified institutional buyer” (as defined therein), (C) to an institutional

  
 G-1

 
“accredited investor” (as defined below) that, prior to such transfer, furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you and to the Company a signed letter
substantially in the form of this letter and, if requested by the Company, an Opinion of Counsel in form reasonably acceptable to the Company to the effect that such transfer is in compliance with the Securities Act, (D) outside the United
States in accordance with Rule 904 of Regulation S under the Securities Act, (E) pursuant to the provisions of Rule 144 under the Securities Act or (F) pursuant to an effective registration statement under the Securities Act, and we
further agree to provide to any person purchasing the Definitive Warrant or beneficial interest in a Global Warrant from us in a transaction meeting the requirements of clauses (A) through (E) of this paragraph a notice
advising such purchaser that resales thereof are restricted as stated herein. 
 3. We understand that, on any proposed resale
of the Warrants or beneficial interest therein, we will be required to furnish to you and the Company such certifications, legal opinions and other information as you and the Company may reasonably require to confirm that the proposed sale complies
with the foregoing restrictions. We further understand that the Warrants purchased by us will bear a legend to the foregoing effect. 
 4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) and have such knowledge and experience in
financial and business matters as to be capable of evaluating the merits and risks of our investment in the Warrants, and we and any accounts for which we are acting are each able to bear the economic risk of our or its investment. 

5. We are acquiring the Warrants or beneficial interest therein purchased by us for our own account or for one or more accounts (each of
which is an institutional “accredited investor”) as to each of which we exercise sole investment discretion. 
 We
agree not to engage in any hedging transactions with regard to the Warrants unless such hedging transactions are in compliance with the Securities Act. 
 You and the Company are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. 
  

			
	[Insert Name of Transferor]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Dated:	 	

  
 G-2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}]]