Document:

Fifth Supplemental Indenture dated as of  December  11, 2012

 Exhibit 4.3 
 Execution Version 
  

 
  

ROWAN COMPANIES, INC. 
 as the Company 
 ROWAN COMPANIES PLC 

as Guarantor 
 and 
 U.S. BANK NATIONAL ASSOCIATION 

as Trustee 

FIFTH SUPPLEMENTAL INDENTURE 
 Dated as of December 11, 2012 
 to 

INDENTURE 

Dated as of July 21, 2009 
 5.4% SENIOR NOTES DUE 2042 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE ONE Relation to Indenture; Definitions
	  	 	1	  
	 SECTION 1.01. Relation to Indenture
	  	 	1	  
	 SECTION 1.02. Definitions
	  	 	1	  
	 SECTION 1.03. General References
	  	 	1	  
		
	 ARTICLE TWO The Series of Securities
	  	 	2	  
	 SECTION 2.01. The Form and Title of the Securities
	  	 	2	  
	 SECTION 2.02. Amount
	  	 	2	  
	 SECTION 2.03. Stated Maturity
	  	 	2	  
	 SECTION 2.04. Interest and Interest Rates
	  	 	2	  
	 SECTION 2.05. Place of Payment
	  	 	2	  
	 SECTION 2.06. Optional Redemption
	  	 	3	  
	 SECTION 2.07. Defeasance and Discharge; Covenant Defeasance
	  	 	3	  
	 SECTION 2.08. Global Securities
	  	 	3	  
	 SECTION 2.09. Rowan UK Guarantee
	  	 	3	  
		
	 ARTICLE THREE Amendments to Original Indenture
	  	 	3	  
	 SECTION 3.01. Defined Terms
	  	 	3	  
	 SECTION 3.02. Additional Event of Default
	  	 	7	  
	 SECTION 3.03. Release of Securities Guarantee
	  	 	8	  
		
	 ARTICLE FOUR Additional Covenants
	  	 	8	  
	 SECTION 4.01. Limitation on Liens
	  	 	8	  
	 SECTION 4.02. Limitation on Sale and Leaseback Transactions
	  	 	8	  
		
	 ARTICLE FIVE Form of Notes due 2022
	  	 	9	  
		
	 ARTICLE SIX Miscellaneous
	  	 	10	  
	 SECTION 6.01. Certain Trustee Matters
	  	 	10	  
	 SECTION 6.02. Continued Effect
	  	 	10	  
	 SECTION 6.03. Governing Law
	  	 	10	  
	 SECTION 6.04. Counterparts
	  	 	10	  

 EXHIBITS 

Exhibit A: Form of Note 
 Fifth
Supplemental Indenture 

 FIFTH SUPPLEMENTAL INDENTURE, dated as of December 11, 2012 (this
“Supplemental Indenture”), by and among ROWAN COMPANIES, INC., a corporation duly organized and existing under the laws of the State of Delaware (the “Company”), ROWAN COMPANIES PLC, a public limited company
incorporated under the laws of England and Wales (“Rowan UK”), and U.S. BANK NATIONAL ASSOCIATION, a nationally chartered banking association, as trustee under the Indenture referred to below (in such capacity, the
“Trustee”). 
 RECITALS OF THE COMPANY 
 WHEREAS, the Company and the Trustee have heretofore entered into an Indenture dated as of July 21, 2009 (the “Original Indenture”) (the Original Indenture, as supplemented from time to
time, including without limitation pursuant to this Supplemental Indenture, being referred to herein as the “Indenture”); and 
 WHEREAS, under the Original Indenture, a new series of Securities may at any time be established by an indenture supplemental to the Original Indenture; and 

WHEREAS, the Company proposes to create under the Indenture a new series of Securities; and 

WHEREAS, Rowan UK proposes to fully and unconditionally guarantee such new series of Securities; and 

WHEREAS, the Company proposes to reopen the series of Securities established pursuant to the Original Indenture as amended and
supplemented by the Fourth Supplemental Indenture thereto dated as of May 21, 2012, and designated in such Fourth Supplemental Indenture as the Company’s 4.875% Senior Notes due 2022, and in connection therewith establish the form of
additional Securities of such series; 
 NOW, THEREFORE, in consideration of the premises, agreements and obligations set forth
herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree, for the equal and proportionate benefit of all Holders of the Notes (as defined below), as follows:

 ARTICLE ONE 
 RELATION TO INDENTURE; DEFINITIONS 
 SECTION 1.01. Relation to Indenture. 
 With
respect to the Notes, this Supplemental Indenture constitutes an integral part of the Indenture. 
 SECTION 1.02.
Definitions. 
 For all purposes of this Supplemental Indenture, capitalized terms used herein and not
otherwise defined herein shall have the meanings assigned thereto in the Original Indenture. 
 SECTION 1.03.
General References. 
 Unless otherwise specified or unless the context otherwise requires, (i) all
references in this Supplemental Indenture to Articles and Sections refer to the corresponding Articles and Sections of this Supplemental Indenture and (ii) the terms “herein”, “hereof”,
“hereunder” and any other word of similar import refer to this Supplemental Indenture. 

  
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Supplemental Indenture 
  

 ARTICLE TWO 
 THE SERIES OF SECURITIES 
 SECTION 2.01. The Form and Title of the Securities. 
 There is hereby established a new series of Securities to be issued under the Indenture and to be designated as the Company’s 5.4% Senior Notes due 2042 (the “Notes”). The Notes shall be
substantially in the form attached as Exhibit A hereto, in each case with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by the Indenture, and may have such letters, numbers or
other marks of identification and such legends or endorsements placed thereon as the Company may deem appropriate or as may be required or appropriate to comply with any laws or with any rules made pursuant thereto or with the rules of any
securities exchange or automated quotation system on which the Notes may be listed or traded, or to conform to general usage, or as may, consistently with the Indenture, be determined by the officers executing such Notes, as evidenced by their
execution thereof. 
 The Notes shall be executed, authenticated and delivered in accordance with the provisions of, and shall
in all respects be subject to, the terms, conditions and covenants of the Original Indenture as supplemented by this Supplemental Indenture (including the form of Note attached as Exhibit A hereto (the terms of which are incorporated in
and made a part of this Supplemental Indenture for all intents and purposes)). 
 SECTION 2.02.
Amount. 
 The aggregate principal amount of the Notes that may be authenticated and delivered pursuant hereto is
unlimited. The Trustee shall initially authenticate and deliver Notes for original issue in an initial aggregate principal amount of up to $400,000,000, upon delivery to the Trustee of a Company Order for the authentication and delivery of such
Notes. The aggregate principal amount of the Notes to be issued hereunder may be increased at any time hereafter and the series may be reopened for issuances of Additional Notes, upon Company Order, without the consent of any Holder and without any
further supplement or amendment to the Original Indenture or this Supplemental Indenture. The Notes issued on the date hereof and any such Additional Notes that may be issued hereafter shall be part of the same series of Securities for all purposes
under the Indenture. 
 SECTION 2.03. Stated Maturity. 

The Notes may be issued on any Business Day on or after December 11, 2012, and the Stated Maturity of the Notes shall be
December 1, 2042. 
 SECTION 2.04. Interest and Interest Rates. 

The rate or rates at which the Notes shall bear interest, the date or dates from which such interest shall accrue, the Interest Payment
Dates on which any such interest shall be payable and the Regular Record Date for any interest payable on any Interest Payment Date, in each case, shall be as set forth in the form of Note attached as Exhibit A hereto. 

SECTION 2.05. Place of Payment. 
 As long as any Notes are Outstanding, the Company shall maintain an office or agency in the United States where Notes may be presented for payment. Such office or agency shall initially be the office or
agency of the Trustee in Houston, Texas. 

  
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 SECTION 2.06. Optional Redemption. 

At its option, the Company may redeem the Notes, in whole or in part, in principal amounts of $2,000 or integral multiples of $1,000 in
excess thereof, at any time or from time to time, at the applicable Redemption Price determined as set forth in the form of Note attached hereto as Exhibit A, in accordance with the terms set forth in the Notes and in accordance with Article
Eleven of the Original Indenture. 
 SECTION 2.07. Defeasance and Discharge; Covenant Defeasance.

 Article Thirteen of the Original Indenture (as amended and supplemented by this Supplemental Indenture) shall apply to the
Notes. Furthermore, the additional Event of Default specified in Section 3.02. of this Supplemental Indenture, each of the covenants set forth in ARTICLE Four of this Supplemental Indenture, and the Events of Default specified in Sections
5.1(c) and 5.1(d) of the Original Indenture, shall, in each case, constitute “Additional Defeasible Provisions” (as such term is used in the Original Indenture). 
 SECTION 2.08. Global Securities. 
 The Notes shall
initially be issuable in whole or in part in the form of one or more Global Securities. Such Global Securities (i) shall be deposited with, or on behalf of, the Depository Trust Company, New York, New York, which shall act as Depositary with
respect to the Notes, (ii) shall bear the legends applicable to Global Securities set forth in Sections 2.2 and 2.4 of the Original Indenture, (iii) may be exchanged in whole or in part for Securities in definitive form upon the terms and
subject to the conditions provided in Section 3.5 of the Original Indenture and in this Supplemental Indenture and (iv) shall otherwise be subject to the applicable provisions of the Indenture. 

SECTION 2.09. Rowan UK Guarantee. 
 Article Fourteen of the Original Indenture (as amended and supplemented by this Supplemental Indenture, including without limitation Section 3.03 hereof) shall apply to the Notes. For the purposes of
this Supplemental Indenture and the Notes (including without limitation the provisions of the Original Indenture to the extent applicable thereto), the term “Guarantor” shall mean Rowan UK. Rowan UK hereby agrees to be bound by a
Securities Guarantee with respect to the Notes and that Rowan UK shall be a Guarantor of the Notes in accordance with Article Fourteen of the Indenture; provided, however, that the Securities Guarantee granted hereby shall not apply to
any obligations under any series of Securities other than the Notes. Rowan UK hereby agrees that its Securities Guarantee of the Notes will remain in full force and effect notwithstanding any failure to endorse on each Note a notation of such
Securities Guarantee. 
 ARTICLE THREE 
 AMENDMENTS TO ORIGINAL INDENTURE 
 With respect to the Notes, the Original Indenture is hereby amended as set forth below in this ARTICLE Three; provided, however, that each such amendment shall apply only to the Notes and
not to any other series of Securities issued under the Indenture. 
 SECTION 3.01. Defined Terms.

 Subject to the limitations set forth in the preamble to ARTICLE Three of this Supplemental Indenture, Section 1.1 of the
Original Indenture is hereby amended by inserting or restating, as the case may be, each of the following defined terms in its appropriate alphabetical position: 

“Additional Defeasible Provisions” means the provisions of Sections 5.1(c), 5.1(d), 5.1(h), 10.7 and 10.8 of
the Indenture. 

  
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 “Additional Notes” means an unlimited maximum aggregate principal
amount of Notes (other than the Notes issued on the date hereof) issued under the Indenture pursuant to Section 2.02. of this Supplemental Indenture. 
 “Attributable Indebtedness,” when used with respect to any Sale and Leaseback Transaction, means, as at the time of determination, the present value (discounted at the rate set forth or implicit
in the terms of the lease included in such transaction) of the rental payments during the remaining term of the lease included in such Sale and Leaseback Transaction (other than amounts required to be paid on account of taxes, maintenance, repairs,
insurance, assessments, utilities, operating and labor costs and other items that do not constitute payments for property rights), including any period for which such lease has been extended. In the case of any lease which is terminable by the
lessee upon the payment of a penalty, such net amount shall be the lesser of the net amount determined assuming termination upon the first date such lease may be terminated (in which case the net amount shall also include the amount of the penalty,
but no rent shall be considered as required to be paid under such lease subsequent to the first date upon which it may be so terminated) or the net amount determined assuming no such termination. 

“Capital Lease Obligation” means, at the time any determination is to be made, the amount of the liability in
respect of a capital lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP, and the stated maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior
to the first date upon which such lease may be prepaid by the lessee without payment of a penalty. 

“Capital Stock” means: 

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

(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; 
 (3) in the case of a partnership or limited liability
company, partnership interests (whether general or limited) or membership interests; and 
 (4) any other
interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 

“Consolidated Net Tangible Assets” of any Person means the total amount of assets (after deducting applicable
reserves and other properly deductible items) of such Person and its consolidated Subsidiaries minus all current liabilities (excluding liabilities that are extendable or renewable at the option of such Person or any of its consolidated
Subsidiaries to a date more than 12 months after the date of calculation and excluding current maturities of long-term indebtedness) and all goodwill, trade names, trademarks, patents, unamortized indebtedness discount and expense and other like
intangible assets. Consolidated Net Tangible Assets of any Person shall be based on the most recently available consolidated quarterly balance sheet of such Person, and shall be calculated in accordance with GAAP. 

“Funded Indebtedness” means all Indebtedness that matures on or is renewable to a date more than one year after
the date the Indebtedness is incurred. 
 “GAAP” means generally accepted accounting principles in the
United States, which are in effect from time to time. All computations based on GAAP contained in this Indenture will be computed in conformity with GAAP. At any time after the Issue Date, the Company may elect to apply International Financial
Reporting Standards (“IFRS”) accounting principles in lieu of 

  
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GAAP and, upon any such election, references herein to GAAP shall thereafter be construed to mean IFRS; provided that any such election, once made, shall be irrevocable; provided,
further, that any calculation or determination in the Indenture that requires the application of GAAP for periods that include fiscal quarters ended prior to the Company’s election to apply IFRS shall remain as previously calculated or
determined in accordance with GAAP. The Company shall give notice of any such election made in accordance with this definition to the Trustee. 
 “Indebtedness” of any Person means: 
 (1) all
indebtedness of such Person for borrowed money (whether full or limited recourse); 
 (2) all obligations of such
Person evidenced by bonds, debentures, notes or other similar instruments; 
 (3) all obligations of such Person
under letters of credit or other similar instruments, other than standby letters of credit, performance bonds and other obligations issued in the ordinary course of business, to the extent not drawn or, to the extent drawn, if such drawing is
reimbursed not later than the third business day following demand for reimbursement; 
 (4) all obligations of
such Person to pay the deferred and unpaid purchase price of property or services, except trade payables and accrued expenses incurred in the ordinary course of business; 

(5) all Capital Lease Obligations of such Person; 

(6) all Indebtedness of others secured by a Lien on any asset of such Person: provided that if the obligations so
secured have not been assumed in full or are not otherwise fully such Person’s legal liability, then such obligations may be reduced to the value of the asset or the liability of such Person; and 

(7) all Indebtedness of others (other than endorsements in the ordinary course of business) guaranteed by such Person to
the extent of such guarantee. 
 “Issue Date” means the first date on which any Notes are issued,
authenticated and delivered under the Indenture. 
 “Joint Venture” means any partnership, corporation
or other entity in which up to and including 50% of the partnership interests, outstanding Voting Stock or other equity interests is owned, directly or indirectly, by the Company and/or one or more Subsidiaries of the Company. 

“Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance
of any kind in respect of such asset, regardless of whether filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other
agreement to sell or give a security interest in any asset and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction). 

“Notes” means a series of Securities designated as the Company’s 5.4% Senior Notes due 2042, issued
pursuant to this Indenture, as amended and supplemented by the Fifth Supplemental Indenture hereto dated as of December 11, 2012. 

  
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 “Permitted Liens” means: 

(1) Liens existing on the Issue Date; 

(2) Liens on any Person’s property or assets existing at the time the Company acquires such Person or its property or
assets, or at the time such Person becomes a Subsidiary of the Company; 
 (3) intercompany Liens in favor of the
Company or any Subsidiary of the Company; 
 (4) Liens on assets either (a) securing all or part of the cost
of acquiring, constructing, improving, developing or repairing the assets or (b) securing Indebtedness incurred to finance the acquisition of the assets or the cost of constructing, improving, developing, expanding or repairing the assets and
commencing commercial operation of the assets if the applicable Indebtedness was incurred prior to, at the time of or within 24 months after the acquisition, or completion of construction, improvement, development, expansion or repair of the assets
or their commencing commercial operation; 
 (5) Liens in favor of governmental entities to secure
(a) payments under any contract or statute to secure progress or advance payments or (b) industrial development, pollution control or similar indebtedness; 

(6) governmental Liens under contracts for the sale of products or services; 

(7) Liens imposed by law, such as mechanic’s or workmen’s Liens; 

(8) Liens under workers’ compensation laws or similar legislation; 

(9) Liens in connection with legal proceedings or securing taxes or other assessments; 

(10) statutory or other Liens arising in the ordinary course of business of the Company or of any Subsidiary of the
Company and relating to amounts that are not yet delinquent or that the Company or any Subsidiary of the Company is contesting in good faith; 
 (11) Liens on stock, partnership or other equity interests of the Company in any Joint Venture or of any Subsidiary of the Company that owns an equity interest in a Joint Venture to secure Indebtedness
contributed or advanced solely to that Joint Venture; 
 (12) good faith deposits in connection with bids,
tenders, contracts or leases; 
 (13) deposits made in connection with maintaining self-insurance, to obtain the
benefits of laws, regulations or arrangements relating to unemployment insurance, old age pensions, social security or similar matters or to secure surety, appeal or customs bonds; and 

(14) any extensions, substitutions, renewals or replacements of the above-described Liens. 

“Principal Property” means any drilling rig, or integral portion thereof, owned or leased by the Company or any
Subsidiary of the Company and used for drilling offshore oil and gas wells, that, in the opinion of the Board of Directors of the Company, is of material importance to the business of the Company and its Subsidiaries considered as a whole;
provided, however that no such drilling rig, or portion thereof, shall be deemed of material importance if its net book value (after deducting accumulated depreciation) is less than 2% of the Consolidated Net Tangible Assets of the Company.

  
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 “Sale and Leaseback Transaction” means any arrangement with any
Person under which the Company or any Subsidiary of the Company leases any Principal Property that the Company or that Subsidiary has or will sell or transfer to that Person; provided, however, that each of the following shall be deemed not
to be a Sale and Leaseback Transaction: 
 (1) temporary leases for a term of not more than five years;

 (2) intercompany leases between the Company and a Subsidiary or between two or more Subsidiaries of the
Company; and 
 (3) leases of a Principal Property executed by the time of or within 12 months after the
acquisition, the completion of construction, alteration, improvement or repair, or the commencement of commercial operation of such Principal Property. 
 “Significant Subsidiary” means any Subsidiary of the Company that would be a “significant subsidiary” as defined in Article 1, Rule 1-02(w) of Regulation S-X, promulgated pursuant to
the Securities Act, as such Regulation is in effect on the Issue Date. 
 “Subsidiary” means, with
respect to any Person, 
 (1) any corporation, association or other business entity of which more than 50% of the
total voting power of the Voting Stock thereof is at the time owned or controlled, directly or indirectly, by such Person; and 
 (2) any partnership (a) the sole general partner or the managing general partner of which is such Person or an entity described in clause (1) and related to such Person or (b) the only
general partners of which are such Person or of one or more entities described in clause (1) and related to such Person (or any combination thereof ). 
 “Voting Stock” of any specified Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the election of the Board of Directors (or similar governing
body) of such Person. 
 SECTION 3.02. Additional Event of Default. 

With respect to the Notes, the occurrence of any of the following events shall, in addition to the other events or
circumstances described as Events of Default in Section 5.1 of the Original Indenture, constitute an Event of Default: default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or
evidenced any Indebtedness of the Company or any of its Significant Subsidiaries (or the payment of which is guaranteed by the Company or any of its Significant Subsidiaries), whether such Indebtedness or guarantee now exists or is created after the
date of issuance of the Notes, if (a) that default (x) is caused by a failure to pay principal of or premium, if any, or interest on such Indebtedness prior to the expiration of the grace period provided in such Indebtedness on the date of
such default (a “Payment Default”), or (y) results in the acceleration of such Indebtedness prior to its express maturity, and (b) in each case described in clauses (x) or (y) above, the principal amount of any such
Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $35.0 million or more. 

  
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 SECTION 3.03. Release of Securities Guarantee. 

Subject to the limitations set forth in the preamble to ARTICLE Three of this Supplemental Indenture, Article Fourteen of
the Original Indenture is hereby amended by adding the following Sections 14.4 thereto: 
 Section 14.4 Releases.

 (a) Rowan UK will be released and relieved of any obligations under its Securities Guarantee immediately upon
(i) Legal Defeasance in accordance with Article Thirteen of this Indenture or satisfaction and discharge of this Indenture in accordance with Article Four of this Indenture or (ii) the merger of Rowan UK with and into the Company.

 ARTICLE FOUR 
 ADDITIONAL COVENANTS 
 With respect to the
Notes, Article Ten of the Original Indenture is hereby amended as set forth below in this ARTICLE Four; provided, however, that each such amendment shall apply only to the Notes and not to any other series of Securities issued under
the Indenture. 
 SECTION 4.01. Limitation on Liens. 

Subject to the limitations set forth in the preamble to ARTICLE Four of this Supplemental Indenture, Article Ten of the Original Indenture
is hereby further amended by adding the following Section 10.6 thereto: 
 Section 10.6 Limitation on Liens.

 (a) The Company shall not, and shall not permit any of its Subsidiaries to, issue, assume or guarantee any
Indebtedness for borrowed money secured by any Lien upon any Principal Property without making effective provision whereby the Notes (together with, if the Company shall so determine, any other Indebtedness or other obligation of the Company or any
Subsidiary) shall be secured equally and ratably with (or, at the option of the Company, prior to) the Indebtedness so secured for so long as such Indebtedness is so secured. The foregoing restrictions will not, however, apply to Indebtedness
secured by Permitted Liens. 
 (b) Notwithstanding the immediately preceding paragraph (a), without securing the
Notes, the Company or any Subsidiary of the Company may issue, assume or guarantee Indebtedness that such paragraph (a) would otherwise restrict or prohibit, in a total principal amount that, when added to all of other outstanding Indebtedness
of the Company and its Subsidiaries that such paragraph (a) would otherwise restrict or prohibit and the total amount of Attributable Indebtedness outstanding for Sales and Leaseback Transactions (other than any such Attributable Indebtedness
for outstanding Sale and Leaseback Transactions in connection with which the Company has voluntarily retired debt securities issued under this Indenture, Indebtedness of equal rank or Funded Indebtedness (in each case as described in clause
(3) of Section 10.7)), does not exceed 15% of the Consolidated Net Tangible Assets of the Company. 

SECTION 4.02. Limitation on Sale and Leaseback Transactions. 

Subject to the limitations set forth in the preamble to ARTICLE Four of this Supplemental Indenture, Article Ten of the Original Indenture
is hereby further amended by adding the following Section 10.7 thereto: 

  
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 Section 10.7 Limitation on Sale and Leaseback Transactions. 

The Company shall not, and shall not permit any of its Subsidiaries to, enter into a Sale and Leaseback Transaction,
unless one of the following applies: 
 (1) the Company or such Subsidiary of the Company could incur
Indebtedness in a principal amount equal to the Attributable Indebtedness for that Sale and Leaseback Transaction and, without violating Section 10.6, could secure that Indebtedness by a Lien on the property to be leased without equally or
ratably securing the Notes; 
 (2) after the issuance of the Notes and within the period beginning nine months
before the closing of the Sale and Leaseback Transaction and ending nine months after such closing, the Company or any of its Subsidiaries have expended for property used or to be used in the ordinary course of business an amount equal to all or a
portion of the net proceeds of the transaction, and the Company has elected to designate that amount as a credit against that transaction (with any amount not so designated to be applied as set forth in clause (3) below or as otherwise
permitted); or 
 (3) during the nine-month period after the effective date of the Sale and Leaseback
Transaction, the Company has applied to the voluntary defeasance or retirement of any debt securities under the Indenture, any Indebtedness of equal rank to the Notes or any Funded Indebtedness, an amount equal to the net proceeds of the sale or
transfer of the property leased in the Sale and Leaseback Transaction (or, if greater, the fair value of that property at the time of the Sale and Leaseback Transaction as determined by the Board of Directors of the Company) adjusted to reflect the
remaining term of the lease and any amount expended as set forth in the immediately preceding clause (2). 
 ARTICLE FIVE

 FORM OF NOTES DUE 2022 

Reference is made hereby to the Fourth Supplemental Indenture dated as of May 21, 2012 (the “Fourth Supplemental
Indenture”), by and among the Company, Rowan UK and the Trustee, pursuant to which (a) the Original Indenture was amended and supplemented to, among other things, establish the form of a series of Securities designated as the
Company’s 4.875% Senior Notes due 2022 (the “Notes due 2022”) and (b) the Company issued $500 million in aggregate principal amount of Notes due 2022 on such date. In order to facilitate the issuance, from time to time, of
Additional Notes due 2022, the form of Notes due 2022 set forth as Exhibit A to the Fourth Supplemental Indenture is hereby amended such that in the first sentence of the first paragraph on the face of such form (below the legends), the date
“May 21, 2012” is replaced with a blank (referred to herein as the “Interest Commencement Date Blank”) and the date “December 1, 2012” is replaced with a blank (referred to herein as the “First Interest Payment
Date Blank”). Upon issuance of any Additional Notes due 2022 on or after the date hereof, such blanks, along with the other blanks appearing in such form, shall be completed in the Additional Notes due 2022 that are executed by the Company and
authenticated by the Trustee, with the date inserted in the Interest Commencement Date Blank being the most recent Interest Payment Date on which interest has been paid with respect to previously issued Notes due 2022 occurring on or before the date
of issuance of such Additional Notes due 2022, and the date inserted in the First Interest Payment Date Blank being the first Interest Payment Date with respect to Notes due 2022 occurring after the date of issuance of such Additional Notes due
2022. As used herein, “Additional Notes due 2022” has the meaning given to the term “Additional Notes” in the Fourth Supplemental Indenture. 

  
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 ARTICLE SIX 
 MISCELLANEOUS 
 SECTION 6.01. Certain
Trustee Matters. 
 The recitals contained herein shall be taken as the statements of the Company, and the Trustee
assumes no responsibility for their correctness. 
 The Trustee makes no representations as to the validity or sufficiency of
this Supplemental Indenture or the Notes or the proper authorization or the due execution hereof or thereof by the Company. 

Except as expressly set forth herein, nothing in this Supplemental Indenture shall alter the duties, rights or obligations of the Trustee
set forth in the Original Indenture. 
 The Trustee makes no representation or warranty as to the validity or sufficiency of the
information contained in the prospectus supplement related to the Notes, except such information which specifically pertains to the Trustee itself, or any information incorporated therein by reference. 

SECTION 6.02. Continued Effect. 
 Except as expressly supplemented and amended by this Supplemental Indenture, the Original Indenture shall continue in full force and effect in accordance with the provisions thereof, and the Original
Indenture (as supplemented and amended by this Supplemental Indenture) is in all respects hereby ratified and confirmed. This Supplemental Indenture and all its provisions shall be deemed a part of the Original Indenture in the manner and to the
extent herein and therein provided. 
 SECTION 6.03. Governing Law. 

This Supplemental Indenture and the Notes shall be governed by and construed in accordance with the laws of the State of New York.

 SECTION 6.04. Counterparts. 

This instrument may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts
shall together constitute but one and the same instrument. 
 (Remainder of Page Intentionally Left Blank) 

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

			
	THE COMPANY:
	
	ROWAN COMPANIES, INC.
		
	By:	 	/s/ J. Kevin Bartol
		 	J. Kevin Bartol
		 	Executive Vice President, Chief Financial Officer and Treasurer
	
	GUARANTOR:
	
	ROWAN COMPANIES PLC
		
	By:	 	/s/ J. Kevin Bartol
		 	J. Kevin Bartol
		 	Executive Vice President, Chief Financial Officer and Treasurer

  

	
	The above signatory for Rowan Companies plc signed in the presence of;
	
	/s/ Karen Rios
	 Print name of witness: Karen Rios
 Address: 2800 Post Oak Blvd.

               Suite 5450

               Houston, Texas 77056

  
 Signature
Page to Fifth Supplemental Indenture 

 
			
	TRUSTEE:
	
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	/s/ Shazia Flores
		 	Shazia Flores
		 	Authorized Officer

  
 Signature
Page to Fifth Supplemental Indenture 

 EXHIBIT A 
 [FORM OF FACE OF NOTE] 
 [If a Global Security, insert—THIS SECURITY IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF,
ANY PERSON OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH TRANSFER MAY BE REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF, OR IN
EXCHANGE FOR OR IN LIEU OF, THIS SECURITY SHALL BE A GLOBAL SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES.] 

[If a Global Security, insert—UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.] 
 ROWAN COMPANIES,
INC. 
 5.4% Senior Note due 2042 
  

			
	 No.
                    
	  	U.S.$                    
		
	 CUSIP: 779382 AQ3
	  	
		
	 ISIN: US779382AQ31
	  	

 ROWAN COMPANIES, INC., a Delaware corporation (herein called the “Company”, which term includes
any successor or resulting Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to             , or registered assigns, the principal sum of
            United States Dollars on December 1, 2042, and to pay interest thereon from             , or from the most
recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually on June 1 and December 1 in each year, commencing on             , at the rate of
5.4% per annum, until the principal hereof is paid or made available for payment and at the rate of 5.4% per annum on any overdue principal and premium and on any overdue installment of interest (to the extent that the payment of such
interest shall be legally enforceable). The amount of interest payable for any period shall be computed on the basis of twelve 30-day months and a 360-day year. The amount of interest payable for any partial period shall be computed on the basis of
a 360-day year of twelve 30-day months and the days elapsed in any partial month. In the event that any date on which interest is payable on this Security is not a Business Day, then a payment of the interest payable on such date will be made on the
next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay) with the same force and effect as if made on the date the payment was originally payable. A “Business Day” shall
mean, when used with respect to any Place of Payment, each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day on which banking institutions in that Place of Payment are authorized or obligated by law, executive order or regulation to
close. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at
the close of business on the “Regular Record Date” for such interest, which shall be the May 15 or November 15 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such
interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered
at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, 

 
notice of which shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent
with the requirements of any securities exchange or automated quotation system on which the Securities of this series may be listed or traded, and upon such notice as may be required by such exchange or automated quotation system, all as more fully
provided in such Indenture. 
 [If a Global Security, insert—Payment of the principal of (and premium, if any) and any such
interest on this Security will be made by transfer of immediately available funds to a bank account in the United States of America designated by the Holder in such coin or currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts.] 
 [If a Definitive Security, insert—Payment of the principal of (and
premium, if any) and any such interest on this Security will be made at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, the City and State of New York, in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and private debts or subject to any laws or regulations applicable thereto and to the right of the Company (as provided in the Indenture) to rescind the designation of any such
Paying Agent, at the offices of             in the Borough of Manhattan, The City and State of New York, or at such other offices or agencies as the Company may designate, by United States
Dollar check drawn on, or transfer to a United States Dollar account maintained by the payee with, a bank in The City of New York (so long as the applicable Paying Agent has received proper transfer instructions in writing at least 10 days prior to
the payment date); provided, however, that payment of interest may be made at the option of the Company by United States Dollar check mailed to the addresses of the Persons entitled thereto as such addresses shall appear in the Security
Register or by transfer to a United States Dollar account maintained by the payee with a bank in The City of New York (so long as the applicable Paying Agent has received proper transfer instructions in writing by the Record Date prior to the
applicable Interest Payment Date).] 
 Reference is hereby made to the further provisions of this Security set forth on the
reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless
the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose.

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated:                     
            , 2012 
  

			
	ROWAN COMPANIES, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

 This is one of the Securities of the series designated 5.4% Senior Notes due 2042 referred to in the
within-mentioned Indenture. 
  

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as Trustee

		
	By:	 	 
		 	    Authorized Signatory

 [REVERSE OF NOTE] 

ROWAN COMPANIES, INC. 
 5.4% Senior Note due 2042 
 This Security is one of a duly authorized issue
of senior securities of the Company (the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of July 21, 2009, between the Company and U.S. Bank National Association, a national banking
association organized and existing under the laws of the United States of America, as Trustee (the “Trustee,” which term includes any successor trustee under the Indenture), as amended and supplemented by the Fifth Supplemental
Indenture thereto dated as of December 11, 2012 by and among the Company, Rowan UK and the Trustee (such Indenture, as so amended and supplemented being referred to herein as the “Indenture”), to which Indenture and all
indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, obligations, duties and immunities thereunder of the Company, any Guarantor, the Trustee and the Holders of the Securities and
of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof. 
 This Security is the general, unsecured, senior obligation of the Company and is guaranteed pursuant to a guarantee by each person named as a Guarantor in the Indenture. The Securities Guarantee of each
such Guarantor is the general, unsecured, senior obligation of such Guarantor. 
 This Security is redeemable, in whole or in
part, at the Company’s option at any time and from time to time prior to maturity. The redemption price for such redemption at any time on or after June 1, 2042 will be equal to 100% of the principal amount of this Security or portion
hereof to be redeemed plus accrued and unpaid interest to but excluding the redemption date. The redemption price for such redemption at any time prior to June 1, 2042 will be equal to the greater of (a) 100% of the principal amount of
this Security or portion hereof to be redeemed, and (b) as determined by the Quotation Agent (as defined below), the sum of the present values of the remaining scheduled payments of principal and interest in respect of this Security or portion
hereof to be redeemed (not including any portion of those payments of interest accrued as of the date of redemption) discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the
Adjusted Treasury Rate (as defined below) plus 40 basis points, plus, in each case, accrued and unpaid interest to but excluding the date of redemption. 
 For purposes of determining any redemption price, the following definitions shall apply: 
 “Adjusted Treasury Rate” means, with respect to any date of redemption, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue (as
defined below), assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price (as defined below) for the date of redemption. The Adjusted Treasury Rate will be
calculated on the third Business Day preceding the redemption date. 
 “Comparable Treasury Issue” means the
United States Treasury security selected by the applicable Quotation Agent as having a maturity comparable to the remaining term of this Security that would be utilized, at the time of selection and in accordance with customary financial practice,
in pricing new issues of corporate debt securities of comparable maturity to the remaining term of this Security. 

“Comparable Treasury Price” means, with respect to any date of redemption, (a) the average of the Reference Treasury
Dealer Quotations (as defined below) for the date of redemption, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (b) if the Company obtains fewer than five such Reference Treasury Dealer Quotations, the average
of all such Reference Treasury Dealer Quotations. 
 “Quotation Agent” means the Reference Treasury Dealer (as
defined below) appointed by the Company. 
 “Reference Treasury Dealer” means (a) Barclays Capital Inc.,
Citigroup Global Markets Inc., RBC Capital Markets, LLC and one primary U.S. government securities dealer in New York City designated by Wells Fargo Securities, LLC, and their respective successors; provided, however, that if any of the
foregoing shall cease to be a primary U.S. Government securities dealer (a “Primary Treasury Dealer”), the Company shall substitute another Primary Treasury Dealer; and (b) any other Primary Treasury Dealer selected by the
Company. 

 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any redemption date, the average, as determined by the Trustee, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the
Trustee by such Reference Treasury Dealer at 5:00 p.m. (New York City time) on the third Business Day preceding that redemption date. 
 Unless the Company defaults in payment of the redemption price, on and after the date of redemption, interest will cease to accrue on this Security or the portions hereof called for redemption.

 In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for
the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 The Indenture
contains provisions for defeasance at any time of (1) the entire indebtedness of this Security or (2) certain restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions
set forth in the Indenture. 
 If an Event of Default with respect to Securities of this series shall occur and be continuing,
the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and each Guarantor and the rights of the Holders
of the Securities of each series to be affected under the Indenture at any time by the Company and each Guarantor and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each
series to be affected (with each series voting as a separate class). The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of
the Holders of all Securities of such series, to waive compliance by the Company and each Guarantor with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, regardless of whether
notation of such consent or waiver is made upon this Security. 
 No Holder of this Security shall have any right to institute
any proceeding, judicial or otherwise, with respect to the Indenture, or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless (a) such Holder has previously given written notice to the Trustee of a continuing
Event of Default with respect to the Securities of this series, (b) the Holders of not less than 25% in principal amount of the Outstanding Securities of this series shall have made written request to the Trustee to institute proceedings in
respect of such Event of Default in its own name as Trustee hereunder, (c) such Holder or Holders have offered to the Trustee reasonable indemnity against the costs, expenses and liabilities to be incurred in compliance with such request,
(d) the Trustee for 60 days after its receipt of such notice, request and offer of indemnity has failed to institute any such proceeding and (e) no direction inconsistent with such written request has been given to the Trustee during such
60-day period by the Holders of a majority in principal amount of the Outstanding Securities of this series; it being understood and intended that no one or more of such Holders shall have any right in any manner whatsoever by virtue of, or by
availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to enforce any right under this
Indenture, except in the manner herein provided and for the equal and ratable benefit of all such Holders. 
 No reference
herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the
times, place(s) and rate, and in the coin or currency, herein prescribed. 
 [If a Global Security, insert—This Global
Security or portion hereof may not be exchanged for Definitive Securities of this series except in the limited circumstances provided in the Indenture. The holders of beneficial interests in this Global Security will not be entitled to receive
physical delivery of Definitive Securities except as described in the Indenture and will not be considered the Holders thereof for any purpose under the Indenture.] 

 [If a Definitive Security, insert—As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Security is registerable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in The City of New York, or, subject to any
laws or regulations applicable thereto and to the right of the Company (limited as provided in the Indenture) to rescind the designation of any such transfer agent, at the offices of
            in the Borough of Manhattan, The City of New York or at such other offices or agencies as the Company may designate, duly endorsed by, or accompanied by a written instrument of
transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like tenor, of authorized
denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees.] 
 The
Securities of this series are issuable only in registered form without coupons in denominations of U.S. $2,000 and any integral multiple of U.S. $1,000 in excess thereof. As provided in the Indenture and subject to certain limitations therein set
forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this
Security for registration of transfer, the Company, any Guarantor, the Trustee and any agent of the Company, a Guarantor or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, regardless
of whether this Security be overdue, and none of the Company, any Guarantor, the Trustee nor any such agent shall be affected by notice to the contrary. 
 No recourse under or upon any obligation, covenant or agreement of or contained in the Indenture or of or contained in any Security, or the Securities Guarantee endorsed thereon, or for any claim based
thereon or otherwise in respect thereof, or in any Security or in the Securities Guarantee, or because of the creation of any indebtedness represented thereby, shall be had against any incorporator, shareholder, member, officer, manager or director,
as such, past, present or future, of the Company or any Guarantor or of any successor Person, either directly or through the Company or any Guarantor or any successor Person, whether by virtue of any constitution, statute or rule of law, or by the
enforcement of any assessment, penalty or otherwise; it being expressly understood that all such liability is hereby expressly waived and released by the acceptance hereof and as a condition of, and as part of the consideration for, the execution of
the Indenture and the issuance of the Securities. 
 This Security shall be governed by and construed in accordance with the
laws of the State of New York. 
 All terms used in this Security which are defined in the Indenture shall have the meanings
assigned to them in the Indenture. 

 [If a Definitive Security, insert as a separate page— 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
            (Please Print or Typewrite Name and Address of Assignee) the within instrument of ROWAN COMPANIES, INC., and does hereby irrevocably constitute and appoint
            Attorney to transfer said instrument on the books of the within-named corporation, with full power of substitution in the premises. 

Please Insert Social Security or 
 Other
Identifying Number of Assignee: 
  

									
		 	 	 		 		 	 
					
	Dated:	 	 	 		 		 	 
		 		 		 		 	(Signature)

  

			
	Signature Guarantee:	  	 

 (Participant in a Recognized Signature 

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

 [If a Global Security, insert as a separate page— 

SCHEDULE OF INCREASES OR DECREASES 
 IN GLOBAL SECURITY 
 The following increases or decreases in this Global
Security have been made: 
  

									
	 Date of Exchange
	 	 Amount of

Decrease in

Principal

Amount of this
 Global Security
	 	 Amount of

Increase in

Principal Amount
 of this
 Global Security
	  	Principal Amount
of this 
Global
Security Following
Such 
Decrease
(or Increase)	  	Signature of
Authorized 
Officer
of Trustee or
Depositary

 SECURITIES GUARANTEE NOTATION 

Each Guarantor (which term includes any successor Person in such capacity under the Indenture), has fully, unconditionally and absolutely
guaranteed, to the extent set forth in the Indenture and subject to the provisions in the Indenture, the due and punctual payment of the principal of, and premium, if any, and interest on the Securities of this series and all other amounts due and
payable under the Indenture and the Securities of this series by the Company. 
 The obligations of each Guarantor to the
Holders of Securities of this series and to the Trustee pursuant to the Securities Guarantee and the Indenture are expressly set forth in Article Fourteen of the Indenture and reference is hereby made to the Indenture for the precise terms of the
Securities Guarantee. 
  

			
	Guarantor:
	
	ROWAN COMPANIES plc
		
	By:	 	 
	Name:	 	
	Title:	 	
	
	The above signatory for Rowan Companies plc signed in the presence of:
	
	 
	
	 Print name of witness:
 Address:Registration Rights Agreement Dated December 6, 2012

 Exhibit 4.1 
 REGISTRATION RIGHTS AGREEMENT 
 THIS REGISTRATION RIGHTS AGREEMENT
(this “Agreement”) is made and entered into as of December 6, 2012, by and between Halcón Resources Corporation, a Delaware corporation (the “Company”), and Petro-Hunt Holdings LLC, a Delaware limited
liability company, and Pillar Holdings LLC, a Delaware limited liability company (the “Sellers”). 
 W I T N
E S S E T H: 
 WHEREAS, the Company and the Sellers entered into the Reorganization and Interest Purchase Agreement
dated as of October 19, 2012 (the “Purchase Agreement”), in connection with which, on the date hereof, the Company issued [10,073.4692] newly issued shares (the “Preferred Shares”) of its 8% Automatically
Convertible Preferred Stock, par value $0.0001 per share (the “Preferred Stock”), to Sellers, which Preferred Stock is automatically convertible into [100,734,692] newly issued shares (the “Shares”) of the
Company’s common stock, par value $0.0001 per share (the “Common Stock”), upon the occurrence of certain events; and 
 WHEREAS, as a condition to the consummation of the transactions contemplated by the Purchase Agreement, the Company has agreed to grant the Sellers registration rights with respect to their
Registrable Shares as set forth herein. 
 NOW, THEREFORE, in consideration of the promises and the mutual covenants of
the parties hereto, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Definitions. As used in this Agreement, the following terms shall have the following meanings: 
 “Additional Shares” means shares or other securities issued in respect of the Shares by reason of or in connection with any stock dividend, stock distribution, stock split or similar
issuance. 
 “Agreement” is defined in the introductory paragraph of this Agreement. 

“Affiliate” means, as to any specified Person, (i) any Person that directly, or indirectly through one or more
intermediaries, controls or is controlled by, or is under common control with, the specified Person, (ii) any executive officer, director, trustee or general partner of the specified Person and (iii) any legal entity for which the
specified Person acts as an executive officer, director, trustee or general partner. For purposes of this definition, “control” (including the correlative meanings of the terms “controlled by” and “under common control
with”), as used with respect to any Person, shall mean the possession, directly, or indirectly through one or more intermediaries, of the power to direct or cause the direction of the management and policies of such Person, whether by contract,
through the ownership of voting securities, partnership interests or other equity interests or otherwise. 
 “Barclays
RRA” means that certain Registration Rights Agreement dated as of March 5, 2012, as supplemented or amended, by and between the Company and Barclays Capital, Inc., as lead placement agent. 

“Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday that is not a day on which banking
institutions in New York, New York or Houston, Texas are authorized or obligated by applicable law, regulation or executive order to close. 
 “CH4 RRA” means that certain Registration Rights Agreement dated as of August 1, 2012, by and among CH4 Energy II, LLC, PetroMax Leon, LLC and Petro Texas LLC and the Company
(subsequently joined by U.S. King King LLC). 
 “Commission” means the Securities and Exchange Commission.

 “Common Stock” is defined in the first recital clause of this Agreement. 

  
 - 1 -

 “Company” is defined in the introductory paragraph of this Agreement, and
any successor thereto. 
 “End of Suspension Notice” is defined in Section 5(b) hereof. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated by the
Commission pursuant thereto. 
 “Final Lock-Up Date” means the last calendar day of the Lock-Up Period, as that
term is defined in that certain Lock-Up Letter Agreement, dated December 6, 2012, between the Company and each of the Sellers. 
 “FINRA” means the Financial Industry National Regulatory Agency. 

“HALRES LLC” means HALRES LLC, a Delaware limited liability company. 

“Holder” means (i) each Seller, so long as such Person is a record or beneficial owner of Registrable Shares, and
(ii) each Permitted Assignee of Registrable Shares from any Seller or from any Permitted Assignee. 

“Losses” is defined in Section 6(a) hereof. 

“Mandatory Registration Statement” means the Mandatory Shelf Registration Statement or any Subsequent Shelf Registration
Statement. 
 “Mandatory Shelf Registration Statement” is defined in Section 2(a) hereof. 

“NYSE” means the New York Stock Exchange or any other national securities exchange on which the Common Stock is listed.

 “Permitted Assignee” means an assignee of rights under this Agreement, which assignment shall be evidenced
in writing and may be made only to (i) an Affiliate of a Seller that acquires any of such Seller’s Registrable Shares or (ii) a Person (including an Affiliate) to whom a Seller or a Permitted Assignee sells, assigns, distributes or
otherwise transfers at least 20 million Registrable Shares. 
 “Person” means an individual, limited
liability company, partnership, corporation, trust, unincorporated organization, government or agency or political subdivision thereof, or any other legal entity. 
 “Piggyback Registration Statement” is defined in Section 2(b) hereof. 
 “Prospectus” means the prospectus included in any Registration Statement, including any preliminary prospectus, and all other amendments and supplements to any such prospectus, including
post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference, if any, in such prospectus. 
 “Purchase Agreement” is defined in the first recital clause of this Agreement. 
 “Registrable Shares” means the Shares and any Additional Shares in respect thereof; provided, however, that any such securities shall cease to be Registrable Shares on the
earliest to occur of (i) the date on which they have been sold pursuant to a Registration Statement; (ii) the date on which they are sold pursuant to Rule 144; (iii) the date on which they are sold to the Company or its subsidiaries,
or (iv) the date on which the Holder thereof is able to dispose of all such Holder’s Shares and Additional Shares within a three-month period pursuant to Rule 144. 

“Registration Expenses” means any and all expenses incident to the performance of or compliance with this Agreement,
including, without limitation: (i) all Commission, securities exchange, the NYSE and FINRA fees, (ii) all fees and expenses incurred in connection with compliance with international, federal or state securities or blue sky laws (including,
without limitation, any registration, listing and filing fees and reasonable fees and 

  
 - 2 -

 
disbursements of counsel in connection with blue sky qualification of any of the Registrable Shares and the preparation of a blue sky memorandum and compliance with the rules of FINRA and the
NYSE), (iii) all expenses of any Persons in preparing or assisting in preparing, word processing, duplicating, printing, delivering and distributing any Registration Statement, any Prospectus, any amendments or supplements thereto, any
underwriting agreements, securities sales agreements, certificates and any other documents relating to the performance under and compliance with this Agreement, (iv) all fees and expenses incurred in connection with the listing or inclusion of
any of the Registrable Shares on the NYSE pursuant to Section 4(n) of this Agreement, (v) the fees and disbursements of counsel for the Company and of the independent public accountants of the Company (including, without limitation, the
expenses of any special audit and “cold comfort” letters required by or incident to such performance), (vi) reasonable expenses incurred by the Sellers in connection with any Registration Statement (including the reasonable fees and
disbursements of one counsel for the Sellers) and (vii) any fees and disbursements customarily paid in issues and sales of securities (including the fees and expenses of any experts retained by the Company in connection with any Registration
Statement), provided, however, that Registration Expenses shall exclude brokers’ or underwriters’ discounts and commissions and transfer taxes, if any, relating to the sale or disposition of Registrable Shares by a Holder and the fees and
disbursements of any counsel to the Holders other than as provided for in clause (vi) above. 
 “Registration
Statement” means any Mandatory Registration Statement or Piggyback Registration Statement. 
 “Rule
144”, “Rule 158”, “Rule 415”, or “Rule 424”, respectively, means such specified rule promulgated by the Commission pursuant to the Securities Act, as such rule may be amended from time to
time, or any similar rule or regulation hereafter adopted by the Commission as a replacement thereto having substantially the same effect as such rule. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated by the Commission thereunder. 

“Selling Expenses” means all underwriting fees, discounts and selling commissions or similar fees or arrangements, fees
of counsel to the Selling Holders (other than as specifically provided in the definition of “Registration Expenses” above) and transfer taxes allocable to the sale of the Registrable Shares included in the applicable offering. 

“Selling Holder” means a Holder who is selling Registrable Shares under a registration statement pursuant to the terms
of this Agreement. 
 “Shares” is defined in the first recital clause of this Agreement. 

“Subsequent Shelf Registration Statement” is defined in Section 2(c) hereof. 

“Suspension Event” is defined in Section 5(b) hereof. 

“Suspension Notice” is defined in Section 5(b) hereof. 

“Underwritten Offering” means a sale of securities of the Company to an underwriter or underwriters for reoffering to
the public. 
 2. Registration Rights. 
 (a) Mandatory Shelf Registration. In accordance with the procedures set forth in Section 4, the Company agrees to file with the Commission as soon as reasonably practicable, but in no event
later than 30 days after the Final Lock-Up Date, a shelf registration statement on Form S-3 or such other form under the Securities Act then available to the Company providing for the resale pursuant to Rule 415 from time to time by the Holders of
any and all Registrable Shares consisting of Shares and all Additional Shares in respect thereof (including for the avoidance of doubt any Additional Shares that are issued prior to the effectiveness of such shelf registration

  
 - 3 -

 
statement) (including the Prospectus, amendments and supplements to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto and all material
incorporated by reference or deemed to be incorporated by reference, if any, in such registration statement, the “Mandatory Shelf Registration Statement”). The Company agrees to use its commercially reasonable efforts to cause any
Mandatory Registration Statement to be declared effective by the Commission as soon as reasonably practicable following such filing. 
 (i) Effectiveness and Scope. The Company shall use its commercially reasonable efforts to cause any Mandatory Registration Statement to remain continuously effective until the earlier of
(A) the sale pursuant to a registration statement of all of the Registrable Securities covered by the Mandatory Shelf Registration Statement, (B) the sale, transfer or other disposition pursuant to Rule 144 of all of the Registrable Shares
covered by the Mandatory Shelf Registration Statement, (C) such time as the Registrable Shares covered by the Registration Statement are, in the opinion of counsel to the Company, eligible for resale pursuant to Rule 144 without regard to the
requirement that the Company be current in its Exchange Act reporting, (D) such time as all of the Registrable Shares covered by the Mandatory Shelf Registration Statement have been sold to the Company or any of its subsidiaries or (E) the
fifth anniversary of the effective date of the initial Shelf Mandatory Registration Statement (subject to extension pursuant to Section 5(c)). Any Mandatory Shelf Registration Statement shall provide for the resale from time to time, and
pursuant to any method or combination of methods legally available to, and requested by, the Holder(s) of the Registrable Shares. 
 (ii) Underwriting. If any Holder proposes to conduct an Underwritten Offering under a Mandatory Shelf Registration Statement, such Holder shall give notice to the Company and all other Holders
whose securities are included in the Mandatory Shelf Registration Statement of the managing underwriters for such proposed Underwritten Offering, such managing underwriters to be selected by the Company subject to the approval of the Selling
Holders, not to be unreasonably withheld; provided, however, that the Company shall not be required to offer such opportunity to Holders if the Holders do not offer a minimum of $75 million of Registrable Securities, in the aggregate (determined by
multiplying the number of Registrable Shares held by the participating Holders by the average of the closing price on the NYSE for the Common Stock for the ten trading days preceding the date of such notice). In such event, the Company shall enter
into an underwriting agreement in customary form with the managing underwriters, which shall include, among other provisions, indemnities to the effect and to the extent provided in Section 6, and shall take all such other reasonable actions as
are requested by the managing underwriter in order to expedite or facilitate the registration and disposition of the Registrable Shares included in such Underwritten Offering. All Holders proposing to distribute their Registrable Shares through such
Underwritten Offering shall enter into an underwriting agreement in customary form with the managing underwriters selected for such underwriting and complete and execute any questionnaires, powers of attorney, indemnities, securities escrow
agreements and other documents reasonably required under the terms of such underwriting, and furnish to the Company such information in writing as the Company may reasonably request for inclusion in the Registration Statement; provided, however,
that a Holder shall not be required to make any representations or warranties to or agreements with the Company or the underwriters other than representations, warranties or agreements as are customary for selling stockholders and reasonably
requested by the underwriters. Notwithstanding any other provision of this Agreement, if the managing underwriters determine in good faith that marketing factors require a limitation on the number of shares to be included in such Underwritten
Offering, then the managing underwriters may exclude shares (including Registrable Shares) from the Underwritten Offering, and any shares included in the Underwritten Offering shall be allocated to each of the Holders requesting inclusion of their
Registrable Shares in such Underwritten Offering on a pro rata basis based on the total number of Registrable Shares then held by each such Holder which is requesting inclusion. 

(iii) Selling Stockholder Questionnaires. Each Holder agrees, by its acquisition of Registrable Shares, that if
such Holder wishes to sell Registrable Shares pursuant to the Mandatory Shelf Registration Statement and related Prospectus, it will do so only in accordance with this Section 2(a)(iii). Upon request by the Company, each Holder wishing to sell
Registrable Shares pursuant to a Mandatory Shelf Registration Statement and related Prospectus agrees to deliver a written notice, substantially in form and substance of Exhibit A attached to this Agreement (a “Notice and
Questionnaire”), to the Company (to the extent such Notice and Questionnaire has not been previously provided by such Holder). The Company 

  
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shall mail the Notice and Questionnaire to the Holders no later than the date of initial filing of the Mandatory Shelf Registration Statement with the Commission. No Holder shall be entitled to
be named as a selling securityholder in the Mandatory Shelf Registration Statement as of the initial effective date of the Mandatory Shelf Registration Statement, and no Holder shall be entitled to use the Prospectus forming a part thereof for
resales of Registrable Shares at any time, unless such Holder has returned a completed and signed Notice and Questionnaire to the Company by the deadline for response set forth therein; provided, however, Holders shall have at least 20 calendar days
from the date on which the Notice and Questionnaire is first mailed to such Holders to return a completed and signed Notice and Questionnaire to the Company. Notwithstanding the foregoing, (1) upon the request of any Holder that did not return
a Notice and Questionnaire on a timely basis or did not receive a Notice and Questionnaire because it was a subsequent transferee of Registrable Shares after the Company mailed the Notice and Questionnaire, the Company shall distribute a Notice and
Questionnaire to such Holders at the address set forth in the request and (2) upon receipt of a properly completed Notice and Questionnaire from such Holder, the Company shall use all commercially reasonable efforts to name such Holder as a
selling securityholder in the Mandatory Shelf Registration Statement by means of a pre-effective amendment, by means of a post-effective amendment or, if permitted by the Commission, by means of a Prospectus supplement to the Mandatory Shelf
Registration Statement; provided, however, that the Company will have no obligation to add Holders to the Shelf Mandatory Registration Statement as selling securityholders more frequently than one time per every 30 calendar days. 

(b) Piggyback Registration. Subject to the limitation set forth in clause (b)(ii) below, if, after the Final Lock-Up Date, the
Company proposes to file a registration statement under the Securities Act providing for a public offering of the Company’s securities, other than a Mandatory Registration Statement or a registration statement on Form S-8 or Form S-4 or any
similar form hereafter adopted by the Commission as a replacement therefor (including the Prospectus, amendments and supplements to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto and all
material incorporated by reference or deemed to be incorporated by reference, if any, in such registration statement, the “Piggyback Registration Statement”), the Company will notify each Holder holding Registrable Shares of the
proposed filing and afford each Holder an opportunity to include in such Piggyback Registration Statement all or any part of the Registrable Shares then held by such Holder. Each Holder desiring to include in any such Piggyback Registration
Statement all or part of the Registrable Shares held by such Holder shall, within ten (10) days after delivery of the above-described notice by the Company, so notify the Company in writing, and in such notice shall inform the Company of the
number of Registrable Shares such Holder wishes to include in such Piggyback Registration Statement and provide, as a condition to such inclusion, such information regarding itself, the Registrable Shares held by it and the intended method of
disposition of such securities as is required pursuant to Regulation S-K promulgated under the Securities Act to effect the registration of the Registrable Shares. Any election by any Holder to include any Registrable Shares in such Piggyback
Registration Statement will not affect the inclusion of such Registrable Shares in the Mandatory Shelf Registration Statement until such Registrable Shares have been sold under the Piggyback Registration Statement; provided, however, that at such
time, the Company shall have the right to remove from the Mandatory Shelf Registration Statement the Registrable Shares sold pursuant to the Piggyback Registration Statement. 

(i) Right to Terminate Piggyback Registration. At any time, the Company may terminate or withdraw any Piggyback
Registration Statement referred to in this Section 2(b), and without any obligation to any such Holder whether or not any Holder has elected to include Registrable Shares in such registration. The Company shall also have the right to suspend
the effectiveness and use of any Piggyback Registration Statement at any time for an unlimited amount of time whether or not any Holder has elected to include Registrable Shares in such registration. 

(ii) Limitation on Piggyback Registration. The Company shall have no obligations to any Holder under this
Section 2(b) (including, without limitation, no obligation to provide notice to any Holder of the Company’s proposed filing of a registration statement providing for a public offering of the Company’s securities or to include
Registrable Shares of any Holder in any such registration statement) at any time during which either (1) the Mandatory Shelf Registration Statement is effective and available for the resale of Registrable Shares of such Holder, or (2) the
Company is in the process of adding such Holder to the Mandatory Shelf Registration Statement in accordance with the last sentence of Section 2(a)(iii) of this Agreement. 

  
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 (iii) Underwriting. The Company shall advise the Holders of the
managing underwriters for any Underwritten Offering proposed under the Piggyback Registration Statement. The right of any such Holder’s Registrable Shares to be included in any Piggyback Registration Statement pursuant to this Section 2(b)
shall be conditioned upon such Holder’s participation in such Underwritten Offering and the inclusion of such Holder’s Registrable Shares in the Underwritten Offering to the extent provided herein. All Holders proposing to distribute their
Registrable Shares through such Underwritten Offering shall enter into an underwriting agreement in customary form with the managing underwriters selected for such underwriting and complete and execute any questionnaires, powers of attorney,
indemnities, securities escrow agreements and other documents reasonably required under the terms of such underwriting, and furnish to the Company such information in writing as the Company may reasonably request for inclusion in the Registration
Statement; provided, however, that no Holder shall be required to make any representations or warranties to or agreements with the Company or the underwriters other than representations, warranties or agreements as are customary for selling
stockholders and reasonably requested by the underwriters. Notwithstanding any other provision of this Agreement, if the managing underwriters determine in good faith that marketing factors require a limitation on the number of shares to be
included, then the managing underwriters may exclude shares (including Registrable Shares) from the Piggyback Registration Statement and the Underwritten Offering, and any Shares included in the Piggyback Registration Statement and the Underwritten
Offering shall be allocated, first, to the Company, second, to each of the holders requesting inclusion of their registrable shares in such Piggyback Registration Statement pursuant to the Barclays RRA (if any), third to HALRES LLC and its Permitted
Assignees and each of the holders requesting inclusion of their registrable shares in such Piggyback Registration Statement pursuant to the CH4 RRA (the “CH4 Holders”), and fourth to each person, including each Holder, requesting
inclusion in the Piggyback Registration Statement. If any Holder disapproves of the terms of any Underwritten Offering, such Holder may elect to withdraw therefrom by written notice to the Company and the underwriter, delivered at least 10 Business
Days prior to the effective date of the Piggyback Registration Statement. Any Registrable Shares excluded or withdrawn from such Underwritten Offering shall be excluded and withdrawn from the Piggyback Registration Statement. 

(iv) Hold-Back Agreement. By electing to include Registrable Shares in the Piggyback Registration Statement, if
any, the Holder shall be deemed to have agreed not to effect any sale or distribution of securities of the Company of the same or similar class or classes of the securities included in the Registration Statement or any securities convertible into or
exchangeable or exercisable for such securities, including a sale pursuant to Rule 144, during such periods as reasonably requested (but in no event for a period longer than 90 days following the effective date of the Piggyback Registration
Statement, provided each of the executive officers and directors of the Company that hold shares of Common Stock of the Company or securities convertible into or exchangeable or exercisable for shares of Common Stock of the Company are subject to
the same restriction for the entire time period required of the Holders hereunder) by the representatives of the underwriters, if an Underwritten Offering. 
 (v) Mandatory Shelf Registration not Impacted by Piggyback Registration Statement. The Company’s obligation to file any Mandatory Shelf Registration Statement shall not be affected by the
filing or effectiveness of the Piggyback Registration Statement. 
 (c) Subsequent Shelf Registration for Additional Shares
Issued after Effectiveness of the Mandatory Shelf Registration Statement. If any Additional Shares are issued or distributed to Holders after the effectiveness of the Mandatory Shelf Registration Statement, or such Additional Shares were
otherwise not included in a prior Registration Statement, then the Company shall as soon as practicable file an additional shelf registration statement (including the Prospectus, amendments and supplements to such registration statement or
Prospectus, including pre- and post-effective amendments, all exhibits thereto and all material incorporated by reference or deemed to be incorporated by reference, if any, in such registration statement, a “Subsequent Shelf Registration
Statement”) covering such Additional Shares on behalf of the Holders thereof in the same manner, and subject to the same provisions in this Agreement as the Mandatory Shelf Registration Statement. 

(d) Expenses. The Company shall pay all Registration Expenses in connection with the registration of the Registrable Shares
pursuant to this Agreement (including in connection with any Underwritten Offering pursuant 

  
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to this Agreement). Each Holder participating in a registration pursuant to this Section 2 shall bear such Holder’s proportionate share (based on the total number of Registrable Shares
sold in such registration) of all discounts and commissions payable to underwriters or brokers and all transfer taxes in connection with a registration of Registrable Shares pursuant to this Agreement and any other expense of the Holders not
specifically allocated to the Company pursuant to this Agreement relating to the sale or disposition of such Holder’s Registrable Shares pursuant to any Registration Statement. 
 3. Rule 144 Reporting. 
 With a view to making available the benefits of
certain rules and regulations of the Commission that may permit the sale of the Registrable Shares to the public without registration, the Company agrees to: 
 (a) make and keep public information regarding the Company available, as those terms are understood and defined in Rule 144, at all times from and after the date hereof; 

(b) use its commercially reasonable efforts to file with the Commission in a timely manner all reports and other documents required to be
filed by the Company under the Securities Act and the Exchange Act, at all times from and after the date hereof; and 
 (c) so
long as a Holder owns any Registrable Shares, furnish, unless otherwise available at no charge by access electronically to the Commission’s EDGAR filing system, to such Holder forthwith upon request (i) a copy of the most recent annual or
quarterly report of the Company, and (ii) such other reports and documents of the Company so filed with the Commission as such Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing such Holder to
sell any such securities without registration. 
 4. Registration Procedures. 

In connection with the obligations of the Company with respect to any registration pursuant to this Agreement, the Company shall:

 (a) prepare and file with the Commission, as specified in this Agreement, each Registration Statement, which Registration
Statement shall comply as to form in all material respects with the requirements of the applicable form and include all financial statements required by the Commission to be filed therewith, and use its commercially reasonable efforts to cause any
Mandatory Registration Statement to become and remain effective as set forth in Section 2(a)(i) hereof; provided, however, that the Company shall not be required to cause any Piggyback Registration Statement to become or remain effective;

 (b) subject to Section 4(i) hereof, (i) prepare and file with the Commission such amendments and post-effective
amendments to each such Registration Statement as may be necessary to keep such Registration Statement effective for the period described in Section 4(a) hereof, (ii) cause each Prospectus contained therein to be supplemented by any
required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 or any similar rule that may be adopted under the Securities Act, and (iii) comply in all material respects with the provisions of the Securities Act with
respect to the disposition of all securities covered by each Registration Statement during the applicable period in accordance with the intended method or methods of distribution by the selling Holders thereof; 

(c) furnish to the Holders, without charge, as many copies of each Prospectus, including each preliminary Prospectus, and any amendment or
supplement thereto and such other documents as such Holder may reasonably request, in order to facilitate the public sale or other disposition of the Registrable Shares; the Company hereby consenting to the use of such Prospectus, including each
preliminary Prospectus, by the Holders, if any, in connection with the offering and sale of the Registrable Shares covered by any such Prospectus; 
 (d) use its commercially reasonable efforts to register or qualify, or obtain exemption from registration or qualification for, all Registrable Shares by the time the applicable Registration Statement is
declared effective by the Commission under all applicable state securities or “blue sky” laws of such domestic jurisdictions as 

  
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any Holder covered by a Registration Statement shall reasonably request in writing, keep each such registration or qualification or exemption effective during the period such Registration
Statement is required to be kept effective pursuant to Section 4(a) and do any and all other acts and things that may be reasonably necessary or advisable to enable such Holder to consummate the disposition in each such jurisdiction of such
Registrable Shares owned by such Holder; provided, however, that the Company shall not be required to (i) qualify generally to do business in any jurisdiction or to register as a broker or dealer in such jurisdiction where it would not
otherwise be required to qualify but for this Section 4(d), (ii) subject itself to taxation in any such jurisdiction, or (iii) submit to the general service of process in any such jurisdiction; 

(e) use its commercially reasonable efforts to cause all Registrable Shares covered by such Registration Statement to be registered and
approved by such other domestic governmental agencies or authorities, if any, as may be necessary to enable the Holders thereof to consummate the disposition of such Registrable Shares; 

(f) notify each Holder with Registrable Shares covered by a Registration Statement promptly and, if requested by any such Holder, confirm
such advice in writing (i) when such Registration Statement has become effective and when any post-effective amendments and supplements thereto become effective, (ii) of the issuance by the Commission or any state securities authority of
any stop order suspending the effectiveness of such Registration Statement or the initiation of any proceedings for that purpose, (iii) of any request by the Commission or any other federal or state governmental authority for amendments or
supplements to such Registration Statement or related Prospectus or for additional information, and (iv) of the happening of any event during the period such Registration Statement is effective as a result of which such Registration Statement
or the related Prospectus or any document incorporated by reference therein contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading
(which information shall be accompanied by an instruction to suspend the use of the Registration Statement and the Prospectus until the requisite changes have been made); 
 (g) during the period of time referred to in Section 4(a) above, use its commercially reasonable efforts to avoid the issuance of, or if issued, to obtain the withdrawal of, any order enjoining or
suspending the use or effectiveness of a Registration Statement or suspending the qualification (or exemption from qualification) of any of the Registrable Shares for sale in any jurisdiction, as promptly as practicable; 

(h) upon request, furnish to each requesting Holder with Registrable Shares covered by a Registration Statement, without charge, at least
one conformed copy of such Registration Statement and any post-effective amendment or supplement thereto (without documents incorporated therein by reference or exhibits thereto, unless requested); 

(i) except as provided in Section 5, upon the occurrence of any event contemplated by Section 4(f)(iv), use its
commercially reasonable efforts to promptly prepare a supplement or post-effective amendment to a Registration Statement or the related Prospectus or any document incorporated therein by reference or file any other required document so that, as
thereafter delivered to the purchasers of the Registrable Shares, such Prospectus will not contain any 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
the light of the circumstances under which they were made, not misleading, and, upon request, promptly furnish to each requesting Holder a reasonable number of copies of each such supplement or post-effective amendment; 

(j) if requested by the representative of the underwriters, if any, or any Holders of Registrable Shares being sold in connection with an
Underwritten Offering, (i) promptly incorporate in a Prospectus supplement or post-effective amendment such material information as the representative of the underwriters, if any, or such Holders indicate relates to them or otherwise reasonably
request be included therein and (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; 
 (k) in the case of an Underwritten Offering, use its commercially
reasonable efforts to furnish or caused to be furnished to each Holder of Registrable Shares covered by such Registration Statement and the underwriters a signed counterpart, addressed to each such Holder and the underwriters, of: (i) an
opinion of counsel for the Company, dated the date of each closing under the underwriting agreement, including a standard “10b-5” 

  
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letter, reasonably satisfactory to the underwriters; and (ii) one or more “cold comfort” letters, dated the effective date of such Registration Statement and the date of each
closing under the underwriting agreement, signed by (A) any independent public accountants who have certified the Company’s financial statements included in such Registration Statement, covering substantially the same matters with respect
to such Registration Statement (and the Prospectus included therein) and with respect to events subsequent to the date of such financial statements, as are customarily covered in accountants’ letters delivered to underwriters in underwritten
public offerings of securities, and such other financial matters as the underwriters may reasonably request and customarily obtained by underwriters in underwritten offerings; provided that, in order to be an addressee of any such comfort letter,
each Holder may be required to confirm that it is in the category of persons to whom a comfort letter may be delivered in accordance with applicable accounting literature; and (B) any independent reserve engineering firm who have estimated or
audited reserves of the Company included in such Registration Statement; 
 (l) enter into customary agreements (including in the
case of an Underwritten Offering, an underwriting agreement in customary form) and take all other action in connection therewith in order to expedite or facilitate the distribution of the Registrable Shares included in such Registration Statement
and, in the case of an Underwritten Offering, make representations and warranties to the underwriters in such form and scope as are customarily made by issuers to underwriters in underwritten offerings consistent with representations and warranties
made by the Company in public or private offerings and confirm the same to the extent customary if and when requested; 
 (m) in
connection with an Underwritten Offering, use its commercially reasonable efforts to make available for inspection by the representative of any underwriters participating in any disposition pursuant to a Registration Statement, all financial and
other records, pertinent corporate documents and properties of the Company reasonable and customary to enable such parties to establish a due diligence defense under the Securities Act and cause the respective officers, directors and employees of
the Company to supply all such information reasonably requested by any such representatives, the representative of the underwriters, counsel thereto or accountants in connection with a Registration Statement; provided, however, that such records,
documents or information that the Company determines, in good faith, to be confidential and notifies such representatives, representative of the underwriters, counsel thereto or accountants are confidential shall not be disclosed by the
representatives, representative of the underwriters, counsel thereto or accountants unless (i) the disclosure of such records, documents or information is necessary to avoid or correct a misstatement or omission in a Registration Statement or
Prospectus, (ii) the release of such records, documents or information is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, or (iii) such records, documents or information have been generally made
available to the public; provided further, that to the extent practicable, the foregoing inspection and information gathering shall be coordinated on behalf of the Holders and the other parties entitled thereto by one counsel designated by and on
behalf of the Holders and the other parties, which counsel the Company determines in good faith is reasonably acceptable; 
 (n)
use its commercially reasonable efforts (including, without limitation, seeking to cure in the Company’s listing or inclusion application any deficiencies cited by the exchange or market) to list or include all Registrable Shares on any
securities exchange on which the Common Stock is then listed or included; 
 (o) prepare and file in a timely manner all
documents and reports required by the Exchange Act and, to the extent the Company’s obligation to file such reports pursuant to Section 15(d) of the Exchange Act expires prior to the expiration of the effectiveness period of the
Registration Statement as required by Section 4(a) hereof, the Company shall register the Registrable Shares under the Exchange Act and shall maintain such registration through the effectiveness period required by Section 4(a) hereof;

 (p) (i) otherwise use its commercially reasonable efforts to comply in all material respects with all applicable rules
and regulations of the Commission, (ii) make generally available to its stockholders, as soon as reasonably practicable, earnings statements covering at least 12 months that satisfy the provisions of Section 11(a) of the Securities Act and
Rule 158 thereunder, and (iii) delay filing any Registration Statement or Prospectus or amendment or supplement to such Registration Statement or Prospectus to which any Holder of Registrable Shares covered by any Registration Statement shall
have reasonably objected on the grounds that such Registration Statement or Prospectus or amendment or supplement does not comply in all material respects with the requirements of the Securities Act, such Holder having been furnished with a copy
thereof at least two Business Days prior to the 

  
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filing thereof, provided that the Company may file such Registration Statement or Prospectus or amendment or supplement following such time as the Company shall have made a good faith effort to
resolve any such issue with the objecting Holder and shall have advised the Holder in writing of its reasonable belief that such filing complies in all material respects with the requirements of the Securities Act; 

(q) cause to be maintained a registrar and transfer agent for all Registrable Shares covered by any Registration Statement from and after
a date not later than the effective date of such Registration Statement; and 
 (r) in connection with any sale or transfer of
the Registrable Shares (whether or not pursuant to a Registration Statement) that will result in the securities being delivered no longer constituting Registrable Shares, cooperate with the Holders and the representative of the underwriters, if any,
to facilitate the timely preparation and delivery of certificates representing the Registrable Shares to be sold, which certificates shall not bear any transfer restrictive legends (other than as required by the Company’s charter), and to
enable such Registrable Shares to be in such denominations and registered in such names as the representative of the underwriters, if any, or the Holders may request at least three Business Days prior to any sale of the Registrable Shares.

 The Company may require the Holders to furnish to the Company such information regarding the proposed distribution by such
Holder as the Company may from time to time reasonably request in writing or as shall be required to effect the registration of the Registrable Shares, and no Holder shall be entitled to be named as a selling stockholder in any Registration
Statement and no Holder shall be entitled to use the Prospectus forming a part thereof if such Holder does not provide such information to the Company. Each Holder further agrees to furnish promptly to the Company in writing all information required
from time to time to make the information previously furnished by such Holder not misleading. 
 Each Holder agrees that, upon
receipt of any notice from the Company of the happening of any event of the kind described in Section 4(f)(ii) , 4(f)(iii) or 4(f)(iv) hereof, such Holder will immediately discontinue disposition of Registrable Shares pursuant to a Registration
Statement until (i) any such stop order is vacated or (ii) if an event described in Section 4(f)(iii) or 4(f)(iv) occurs, such Holder’s receipt of the copies of the supplemented or amended Prospectus. If so directed by the
Company, such Holder will deliver to the Company (at the reasonable expense of the Company) all copies in its possession, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Registrable Shares
current at the time of receipt of such notice. 
 5. Suspension Period. 

(a) Subject to the provisions of this Section 5 and a good faith determination by a majority of the non-management Board of Directors
of the Company that it is in the best interests of the Company to suspend the use of any Mandatory Registration Statement, following the effectiveness of such Mandatory Registration Statement (and the filings with any international, federal or state
securities commissions), the Company, by written notice to the Holders, may direct the Holders to suspend sales of the Registrable Shares pursuant to such Mandatory Registration Statement for such times as the Company reasonably may determine is
necessary and advisable (but in no event for more than 60 days in any 90-day period or more than 120 days in any 12-month period), if any of the following events shall occur: (i) an underwritten public offering of Common Stock by the Company if
the Company is advised by the underwriters that the concurrent resale of the Registrable Shares by the Holders pursuant to the Mandatory Registration Statement would have a material adverse effect on the Company’s offering, or (ii) pending
discussions relating to a transaction or the occurrence of an event (1) that would require additional disclosure of material information by the Company in the Mandatory Registration Statement and that has not been so disclosed, and (2) as
to which the Company has a bona fide business purpose for preserving confidentiality. Upon the earlier to occur of (A) the Company delivering to the Holders an End of Suspension Notice, as hereinafter defined, or (B) the end of the maximum
permissible suspension period, the Company shall use its commercially reasonable efforts to promptly amend or supplement the Mandatory Registration Statement on a post-effective basis, if necessary, or to take such action as is necessary to make
resumed use of the Mandatory Registration Statement compatible with the Company’s best interests, as applicable, so as to permit the Holders to resume sales of the Registrable Shares as soon as possible. The Company shall have the right to
suspend the effectiveness and use of any Piggyback Registration Statement at any time for an unlimited amount of time. 

  
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 (b) In the case of an event that causes the Company to suspend the use of a Registration
Statement (a “Suspension Event”), the Company shall give written notice (a “Suspension Notice”) to the Holders to suspend sales of the Registrable Shares, and such notice shall state that such suspension shall
continue only for so long as the Suspension Event or its effect is continuing and the Company is taking all reasonable steps to terminate suspension of the use of the Registration Statement as promptly as possible. The Holders shall not effect any
sales of the Registrable Shares pursuant to such Registration Statement (or such filings) at any time after it has received a Suspension Notice from the Company and prior to receipt of an End of Suspension Notice (as defined below). The Holders may
recommence effecting sales of the Registrable Shares pursuant to the Registration Statement (or such filings) following further notice to such effect (an “End of Suspension Notice”) from the Company, which End of Suspension Notice
shall be given by the Company to the Holders in the manner described above promptly following the conclusion of any Suspension Event and its effect. 
 (c) Notwithstanding any provision herein to the contrary, if the Company shall give a Suspension Notice pursuant to this Section 5 with respect to any Mandatory Registration Statement, the Company
agrees that it shall extend the period of time during which such Mandatory Registration Statement shall be maintained effective pursuant to this Agreement by the number of days during the period from the date of the giving of the Suspension Notice
to and including the date when Holders shall have received the End of Suspension Notice and copies of the supplemented or amended Prospectus necessary to resume sales; provided such period of time shall not be extended beyond the date that Shares or
Additional Shares are not Registrable Shares. 
 6. Indemnification and Contribution. 

(a) By the Company. In the event of a registration of any Registrable Shares under the Securities Act pursuant to this Agreement,
the Company will indemnify and hold harmless each Selling Holder thereunder, their respective directors, officers, employees, agents and managers, and each Person, if any, who such controls such Selling Holder within the meaning of the Securities
Act and the Exchange Act, and their respective directors, officers, employees, agents and managers, against any losses, claims, damages, expenses or liabilities (including reasonable attorneys’ and experts’ fees and expenses)
(collectively, “Losses”), joint or several, to which such Selling Holder or controlling Person may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such Losses (or actions or proceedings, whether
commenced or threatened, in respect thereof) (i) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact (in the case of any prospectus, in the light of the circumstances under which such statement
is made) contained in a Mandatory Registration Statement or any other registration statement contemplated by this Agreement, any preliminary prospectus or final prospectus contained therein, or any free writing prospectus related thereto, or any
amendment or supplement thereof, (ii) 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 (in the case of a prospectus, in
the light of the circumstances under which they were made) not misleading, or (iii) in the case of each Selling Holder, arise out of or are based upon or asserted by any person, including stockholders of the Company, in connection with or as a
result of any act taken or failure to take any action by such Selling Holder pursuant to this Agreement, including the entry into this Agreement (provided that the Company shall not be liable under this clause (iii) to the extent that it is
determined in a final judgment by a court of competent jurisdiction that such loss, claim, damage, liability or action resulted from the gross negligence or bad faith misconduct of the Selling Holder), and will reimburse such Selling Holders, their
respective directors and officers, each such underwriter and each such controlling Person for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such Loss or actions or proceedings; provided,
however, that the Company will not be liable in any such case if and to the extent that any such Loss arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with
information furnished by such Selling Holder, such underwriter or such controlling Person in writing specifically for use in the Mandatory Registration Statement or such other registration statement, free writing prospectus or prospectus supplement,
as applicable. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Selling Holder or any such director, officer, employee, agent, manager or controlling Person, and shall survive the
transfer of such securities by such Selling Holder. 
 (b) By Each Selling Holder. Each Selling Holder agrees to indemnify
and hold harmless each other Selling Holder and the Company, their respective directors, officers, employees and agents and each Person, if any, 

  
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who controls a Selling Holder or the Company within the meaning of the Securities Act or of the Exchange Act to the same extent as the foregoing indemnity from the Company to the Selling Holders,
but only with respect to information regarding such Selling Holder furnished in writing by or on behalf of such Selling Holder expressly for inclusion in a Mandatory Registration Statement or any other registration statement contemplated by this
Agreement, any preliminary prospectus or final prospectus contained therein, or any free writing prospectus related thereto, or any amendment or supplement thereof; provided, however, that the liability of each Selling Holder shall not be greater in
amount than the dollar amount of the proceeds (net of Selling Expenses) received by such Selling Holder from the sale of the Registrable Securities giving rise to such indemnification. Such indemnity shall remain in full force and effect regardless
of any investigation made by or on behalf of any Selling Holder or the Company or any such director, officer, employee, agent, manager or controlling Person, and shall survive the transfer of such securities by such Selling Holder. 

(c) Notice. Promptly after any indemnified party has received notice of any indemnifiable claim hereunder, or the commencement of
any action, suit or proceeding by a third person, which the indemnified party believes in good faith is an indemnifiable claim under this Agreement, the indemnified party shall give the indemnifying party written notice of such claim but failure to
so notify the indemnifying party will not relieve the indemnifying party from any liability it may have to such indemnified party hereunder except to the extent that the indemnifying party is prejudiced by such failure. Such notice shall state the
nature and the basis of such claim to the extent then known. The indemnifying party shall be entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such
indemnified party and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof, the indemnifying party shall not be liable to such indemnified party under this Section 6
for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison with counsel so selected; provided, however, that, (i) if the indemnifying
party has failed to assume the defense and employ counsel or (ii) if the defendants in any such action include both the indemnified party and the indemnifying party and counsel to the indemnified party shall have concluded that there may be
reasonable defenses available to the indemnified party that are different from or additional to those available to the indemnifying party, or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the
indemnifying party, then the indemnified party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the reasonable out-of-pocket expenses and fees of such
separate counsel and other reasonable out-of-pocket expenses related to such participation to be reimbursed by the indemnifying party as incurred. Notwithstanding any other provision of this Agreement, the indemnifying party shall not settle any
indemnified claim without the consent of the indemnified party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not contain any admission of wrongdoing by, the
indemnified party. 
 (d) Contribution. If the indemnification provided for in this Section 6 is for any reason
unavailable to any indemnified party or is insufficient to hold them harmless in respect of any Losses, then each such indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such
indemnified party as a result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of such indemnified party on the other in connection with the statements or omissions which
resulted in such Losses, as well as any other relevant equitable considerations; provided, however, that in no event shall such Selling Holder be required to contribute an aggregate amount in excess of the dollar amount of gross proceeds received by
such Selling Holder from the sale of Registrable Shares giving rise to such indemnification. The relative fault of the indemnifying party on the one hand and the indemnified party on the other shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact has been made by, or relates to information supplied by, such party, and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and equitable if contributions pursuant to this paragraph were to be determined by pro rata allocation or by
any other method of allocation which does not take account of the equitable considerations referred to herein. The amount paid by an indemnified party as a result of the Losses referred to in the first sentence of this paragraph shall be deemed to
include any legal and other expenses reasonably incurred by such indemnified party in connection with investigating or defending any Loss that is the subject of this paragraph. 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 is not guilty of such fraudulent misrepresentation. 

  
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 (e) Other Indemnification. The provisions of this Section 6 shall be in addition
to any other rights to indemnification or contribution that an indemnified party may have pursuant to law, equity, contract or otherwise. 
 7.
Intentionally Omitted. 
 8. Termination of the Company’s Obligations. 

The Company shall have no further obligations pursuant to this Agreement at such time as no Registrable Shares are outstanding, provided,
however, that the Company’s obligations under Sections 3, 6 and 10 of this Agreement shall remain in full force and effect following such time. 
 9. Limitations on Subsequent Registration Rights. 
 From and after the date
of this Agreement, the Company shall not, without the prior written consent of the Holders of a majority of the then outstanding Registrable Shares, enter into any agreement with any holder or prospective holder of any securities of the Company that
would allow such holder or prospective holder to include such securities in the Mandatory Shelf Registration Statement. 
 10.
Miscellaneous. 
 (a) Amendments and Waivers. This Agreement may not be amended, modified or supplemented, and
waivers or consents to or departures from the provisions hereof may not be given, without the written consent of the Company and Holders beneficially owning a majority of the then outstanding Registrable Shares; provided, however, that for purposes
of this Agreement, Registrable Shares owned, directly or indirectly, by the Company or an Affiliate controlled by the Company shall not be deemed to be outstanding. Notwithstanding the foregoing, a waiver or consent to or departure from the
provisions hereof with respect to a matter that relates exclusively to the rights of a Holder whose securities are being sold pursuant to a Registration Statement and that does not directly or indirectly affect, impair, limit or compromise the
rights of other Holders may be given by such Holder; provided that the provisions of this sentence may not be amended, modified or supplemented except in accordance with the provisions of the immediately preceding sentence. 

(b) Notices. All notices and other communications, provided for or permitted hereunder shall be made in writing and delivered by
facsimile (with receipt confirmed), overnight courier or registered or certified mail, return receipt requested, or by telegram, addressed as follows: 
 (i) if to a Holder, at the most current address given by the transfer agent and registrar of the Shares to the Company; 

(ii) if to the Company, at : 
 Halcón Resources Corporation 
 1000 Louisiana Street, 67th
Floor 
 Houston, Texas 77002 

Attention: David S. Elkouri; 
 with copies (which shall not constitute notice) to: 

Thompson & Knight LLP 
 333 Clay Street, Suite 3300 
 Houston, Texas 77002 

Attention: William T. Heller, Esq. 

(facsimile 832-397-8071); 
 and 

  
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 (iii) if to the Sellers, at: 

Petro-Hunt, L.L.C. 
 1601 Elm Street, Suite 3400 
 Dallas, Texas 75201-7201 

Attention: Bruce W. Hunt, President 

E-mail: bwhunt@petrohunt.com 
 Pillar Energy, LLC 
 1601 Elm Street, Suite 3400 

Dallas, Texas 75201-7201 
 Attention: Marshall T. Hunt, Vice President 
 Email:
mthunt@petrohunt.com 
 With a copy to: 

R. Fred Hosey, General Counsel 
 1601 Elm Street, Suite 3400 
 Dallas, Texas 75201-7201 

Email: fhosey@petrohunt.com 
 (c) Successors and Assigns; Third Party Beneficiaries. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties hereto (including
Permitted Assignees) and shall inure to the benefit of each Holder. 
 (d) 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. 

(e) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS, AS
APPLIED TO CONTRACTS MADE AND PERFORMED WITHIN THE STATE OF TEXAS, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW OR ANY OTHER PRINCIPLE THAT MIGHT RESULT IN THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY SUBMITS TO THE NONEXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF TEXAS SITTING IN HARRIS COUNTY, TEXAS, IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT,
AND IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER
APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE 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. 
 (f) 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 commercially reasonable 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 hereto 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. 

  
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 (g) Entire Agreement. This Agreement, together with the Purchase Agreement, is
intended by the parties hereto as a final expression of their agreement, and is intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein.

 (h) Survival. This Agreement is intended to survive the consummation of the transactions contemplated by the Purchase
Agreement. The indemnification and contribution obligations under Section 6 of this Agreement shall survive the termination of the Company’s obligations under Section 2 of this Agreement. 

(i) Enforcement. The parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement
were not performed in accordance with their specific terms or were otherwise breached. Accordingly, each of the parties shall be entitled to specific performance of the terms hereof, including an injunction or injunctions to prevent breaches of this
Agreement in addition to any other remedy to which each party is entitled at law or in equity. Each of the parties further hereby waives (a) any defense in any action for specific performance that a remedy at law would be adequate and
(b) any requirement under any law to post security as a prerequisite to obtaining equitable relief. 
 (j) Headings.
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the provisions of this Agreement. All references made in this Agreement to “Section” refer to such Section of this Agreement,
unless expressly stated otherwise. 
 [Remainder of this Page Intentionally Left Blank] 

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

			
	COMPANY:
	
	HALCÓN RESOURCES CORPORATION
		
	By: 	 	 /s/ David S. Elkouri

	Name:	 	David S. Elkouri
	Title:	 	Executive Vice President & General Counsel
	
	SELLERS:
	
	PETRO-HUNT HOLDINGS, LLC
		
	By: 	 	 /s/ Bruce W. Hunt

	Name:	 	Bruce W. Hunt
	Title:	 	Manager
	
	PILLAR HOLDINGS, LLC
		
	By:	 	 /s/ Bruce W. Hunt

	Name:	 	Bruce W. Hunt
	Title:	 	Manager

 [SIGNATURE PAGE TO REGISTRATION
RIGHTS AGREEMENT] 

 EXHIBIT A 
 FORM OF NOTICE AND QUESTIONNAIRE

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