Document:

Exhibit 10.9

 

FORWARD PURCHASE AGREEMENT

 

This Forward Purchase Agreement
(this “Agreement”) is entered into as of [●], 2017, between Vantage Energy Acquisition Corp., a Delaware
corporation (the “Company”), and NGP Vantage Energy LLC, a Delaware limited liability company (the “Purchaser”).

 

Recitals

 

WHEREAS, the Company was
formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar
business combination with one or more businesses (a “Business Combination”);

 

WHEREAS, the Company has
filed with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form S-1 (the
“Registration Statement”) for its initial public offering (“IPO”) of 40,000,000 units (or
46,000,000 units if the IPO over-allotment option (the “IPO Option”) is exercised in full) (the “Public
Units”), at a price of $10.00 per Public Unit, each Public Unit comprised of one share of the Company’s Class A
common stock, par value $0.0001 per share (the “Class A Shares,” and the Class A Shares included in the Public
Units, the “Public Shares”), and one-third of one redeemable warrant, where each whole redeemable warrant is
exercisable to purchase one Class A Share at an exercise price of $11.50 per share (the “Warrants,” and the
Warrants included in the Public Units, the “Public Warrants”);

 

WHEREAS, following the closing
of the IPO (the “IPO Closing”), the Company will seek to identify and consummate a Business Combination;

 

WHEREAS, the parties wish
to enter into this Agreement, pursuant to which immediately prior to the closing of the Company’s initial Business Combination
(the “Business Combination Closing”), the Company shall issue and sell to the Purchaser, and the Purchaser shall
purchase from the Company, on a private placement basis, the number of Forward Purchase Shares (as defined below) determined pursuant
to Section 1(a)(ii) hereof and the number of Forward Purchase Warrants (as defined below) determined pursuant to Section
1(a)(ii) hereof, on the terms and conditions set forth herein;

 

WHEREAS, the Purchaser owns
11,420,000 shares (the “Sponsor Founder Shares”) of the Company’s Class B common stock, par value $0.0001
per share (the “Class B Shares”);

 

WHEREAS, the Class B Shares
are convertible into Class A Shares on the terms and conditions set forth in the Company’s certificate of incorporation,
as it may be amended from time to time (the “Charter”);

 

WHEREAS, in connection with
the IPO, the Purchaser will purchase an aggregate of 6,666,666 warrants (or 7,466,666 warrants if the IPO Option is exercised in
full) at a price of $1.50 per warrant, in a private placement that will close simultaneously with the IPO Closing (the “Private
Placement Warrants”), each Private Placement Warrant exercisable for one Class A Share at $11.50 per share; and

 

WHEREAS, proceeds from the
IPO and the sale of the Private Placement Warrants in an aggregate amount equal to the gross proceeds from the IPO will be deposited
into a trust account for the benefit of the holders of the Public Shares (the “Trust Account”), as described
in the Registration Statement.

 

NOW, THEREFORE, in consideration
of the premises, representations, warranties and the mutual covenants contained in this Agreement, and for other good and valuable
consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

 

     

     

    

 

Agreement

 

1.           Sale and Purchase.

 

(a)         Forward Purchase Securities.

 

(i)        
The Company shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, that number of Class
A Shares (the “Forward Purchase Shares”), up to a maximum of 40,000,000 Class A Shares (the “Maximum
Shares”), plus that number of warrants (the “Forward Purchase Warrants” and, together with the Forward
Purchase Shares, the “Forward Purchase Securities”), up to a maximum of 13,333,333 warrants) (the “Maximum
Warrants”), in each case determined as set forth in clause 1(a)(ii), for an aggregate purchase price of $10.00 per unit
(the “Forward Purchase Price”) of one Forward Purchase Share and one-third of one Forward Purchase Warrant (each,
a “Forward Purchase Unit”), or up to a maximum of $400,000,000 in the aggregate.

 

(ii)         The number of Forward Purchase Units to be issued and sold by the Company and purchased by the Purchaser hereunder shall
equal that number which, after payment of the aggregate Forward Purchase Price by the Purchaser, will result in gross proceeds
to the Company in an aggregate amount equal to the amount of funds necessary for the Company to consummate the Business Combination
and pay related fees and expenses, less amounts available to the Company from the Trust Account (after payment of the deferred
underwriting discount and after giving effect to any redemptions of Public Shares) and any other financing source obtained by the
Company for such purpose at or prior to the consummation of the Business Combination, plus any additional amounts mutually agreed
by the Company and the Purchaser that may be retained by the post-Business Combination company for working capital or other purposes,
but in no event shall the number of Forward Purchase Shares or Forward Purchase Warrants purchased hereunder exceed the Maximum
Shares or the Maximum Warrants, respectively.

 

(iii)        
Each Forward Purchase Warrant will have the same terms as each Private Placement Warrant, and will be subject to the terms
and conditions of the Warrant Agreement to be entered into between the Company and Continental Stock Transfer & Trust Company,
as Warrant Agent, in connection with the IPO (the “Warrant Agreement”). Each Forward Purchase Warrant will entitle
the holder thereof to purchase one Class A Share at a price of $11.50 per share, subject to adjustment as described in the Warrant
Agreement, and only whole Forward Purchase Warrants will be exercisable. The Forward Purchase Warrants will become exercisable
on the later of 30 days after the Business Combination Closing and 12 months from the IPO Closing, and will expire five years after
the Business Combination Closing or earlier upon the liquidation of the Company, as described in the Warrant Agreement. The Forward
Purchase Warrants will be non-redeemable and exercisable on a cashless basis so long as they are held by the Purchaser or its Permitted
Transferees (as defined below). If the Forward Purchase Warrants are held by Persons (as defined below) other than the Purchaser
or its Permitted Transferees, the Forward Purchase Warrants will have the same terms as the Public Warrants, as set forth in the
Warrant Agreement.

 

(iv)        The Company shall require the Purchaser to purchase the Forward Purchase Securities by delivering notice to the Purchaser,
at least five (5) Business Days before the Business Combination Closing, specifying the number of Forward Purchase Shares and Forward
Purchase Warrants the Purchaser is required to purchase, the date of the Business Combination Closing, the aggregate Forward Purchase
Price and instructions for wiring the Forward Purchase Price. The closing of the sale of Forward Purchase Securities (the “Forward
Closing”) shall be held on the same date and immediately prior to the Business Combination Closing (such date being referred
to as the “Forward Closing Date”). At least one (1) Business Day prior to the Forward Closing Date, the Purchaser
shall deliver to the Company, to be held in escrow until the Forward Closing, the Forward Purchase Price for the Forward Purchase
Securities by wire transfer of U.S. dollars in immediately available funds to the account specified by the Company in such notice.
Immediately prior to the Forward Closing on the Forward Closing Date, (A) the Forward Purchase Price shall be released from
escrow automatically and without further action by the Company or the Purchaser, and (B) upon such release, the Company shall
issue the Forward Purchase Securities to the Purchaser in book-entry form, free and clear of any liens or other restrictions whatsoever
(other than those arising under state or federal securities laws), registered in the name of the Purchaser (or its nominee in accordance
with its delivery instructions), or to a custodian designated by the Purchaser, as applicable. In the event the Business Combination
Closing does not occur on the date scheduled for closing, the Forward Closing shall not occur and the Company shall promptly (but
not later than one (1) Business Day thereafter) return the Forward Purchase Price to the Purchaser. For purposes of this Agreement,
“Business Day” means any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on
which banking institutions are generally authorized or required by law or regulation to close in the City of New York, New York.

 

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(b)          Legends. Each book entry for the Forward Purchase Securities shall contain a notation, and each certificate (if any)
evidencing the Forward Purchase Securities shall be stamped or otherwise imprinted with a legend, in substantially the following
form:

 

“THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION,
AND MAY NOT BE TRANSFERRED IN VIOLATION OF SUCH ACT AND LAWS. THE SALE, PLEDGE, HYPOTHECATION, OR TRANSFER OF THE SECURITIES REPRESENTED
HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN FORWARD PURCHASE AGREEMENT BY AND AMONG THE HOLDER AND THE COMPANY.
COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY.”

 

2.            Representations and Warranties of the Purchaser. The Purchaser represents and warrants to the Company as follows, as
of the date hereof:

 

(a)          Organization and Power. The Purchaser is duly organized, validly existing, and in good standing under the laws of
the jurisdiction of its formation and has all requisite power and authority to carry on its business as presently conducted and
as proposed to be conducted.

 

(b)          Authorization. The Purchaser has full power and authority to enter into this Agreement. This Agreement, when executed
and delivered by the Purchaser, will constitute the valid and legally binding obligation of the Purchaser, enforceable against
the Purchaser in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium,
fraudulent conveyance and any other laws of general application affecting enforcement of creditors’ rights generally, (ii) as
limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies, or (iii) to
the extent the indemnification provisions contained in the Registration Rights (as defined below) may be limited by applicable
federal or state securities laws.

 

(c)          Governmental Consents and Filings. No consent, approval, order or authorization of, or registration, qualification,
designation, declaration or filing with, any federal, state or local governmental authority is required on the part of the Purchaser
in connection with the consummation of the transactions contemplated by this Agreement.

 

(d)          Compliance with Other Instruments. The execution, delivery and performance by the Purchaser of this Agreement and
the consummation by the Purchaser of the transactions contemplated by this Agreement will not result in any violation or default
(i) of any provisions of its organizational documents, (ii) of any instrument, judgment, order, writ or decree to which
it is a party or by which it is bound, (iii) under any note, indenture or mortgage to which it is a party or by which it is
bound, (iv) under any lease, agreement, contract or purchase order to which it is a party or by which it is bound or (v) of
any provision of federal or state statute, rule or regulation applicable to the Purchaser, in each case (other than clause (i)),
which would have a material adverse effect on the Purchaser or its ability to consummate the transactions contemplated by this
Agreement.

 

(e)          Purchase Entirely for Own Account. This Agreement is made with the Purchaser in reliance upon the Purchaser’s
representation to the Company, which by the Purchaser’s execution of this Agreement, the Purchaser hereby confirms, that
the Forward Purchase Securities to be acquired by the Purchaser will be acquired for investment for the Purchaser’s own account,
not as a nominee or agent, and not with a view to the resale or distribution of any part thereof in violation of any state or federal
securities laws, and that the Purchaser has no present intention of selling, granting any participation in, or otherwise distributing
the same in violation of law. By executing this Agreement, the Purchaser further represents that the Purchaser does not presently
have any contract, undertaking, agreement or arrangement with any Person to sell, transfer or grant participations to such Person
or to any third Person, with respect to any of the Forward Purchase Securities. For purposes of this Agreement, “Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization,
any other entity or any government or any department or agency thereof.

 

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(f)           Disclosure of Information. The Purchaser has had an opportunity to discuss the Company’s business, management,
financial affairs and the terms and conditions of the offering of the Forward Purchase Securities, as well as the terms of the
Company’s proposed IPO, with the Company’s management.

 

(g)          Restricted Securities. The Purchaser understands that the offer and sale of the Forward Purchase Securities to the
Purchaser has not been, and will not be, registered under the Securities Act of 1933, as amended (the “Securities Act”),
by reason of a specific exemption from the registration provisions of the Securities Act which depends upon, among other things,
the bona fide nature of the investment intent and the accuracy of the Purchaser’s representations as expressed herein. The
Purchaser understands that the Forward Purchase Securities are “restricted securities” under applicable U.S. federal
and state securities laws and that, pursuant to these laws, the Purchaser must hold the Forward Purchase Securities indefinitely
unless they are registered with the SEC and qualified by state authorities, or an exemption from such registration and qualification
requirements is available. The Purchaser acknowledges that the Company has no obligation to register or qualify the Forward Purchase
Securities, or any Class A Shares for which they may be exercised, for resale, except as provided herein (the “Registration
Rights”). The Purchaser further acknowledges that if an exemption from registration or qualification is available, it
may be conditioned on various requirements including, but not limited to, the time and manner of sale, the holding period for the
Forward Purchase Securities, and on requirements relating to the Company which are outside of the Purchaser’s control, and
which the Company is under no obligation and may not be able to satisfy. The Purchaser acknowledges that the Company filed the
Registration Statement for its proposed IPO. The Purchaser understands that the offering of the Forward Purchase Securities is
not and is not intended to be part of the IPO, and that the Purchaser will not be able to rely on the protection of Section 11
of the Securities Act.

 

(h)          No Public Market. The Purchaser understands that no public market now exists for the Forward Purchase Securities,
and that the Company has made no assurances that a public market will ever exist for the Forward Purchase Securities.

 

(i)           High Degree of Risk. The Purchaser understands that its agreement to purchase the Forward Purchase Securities involves
a high degree of risk which could cause the Purchaser to lose all or part of its investment, and that it will be contractually
obligated to vote the Sponsor Founder Shares in favor of the Business Combination as provided herein.

 

(j)           Accredited Investor. The Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D promulgated
under the Securities Act.

 

(k)          No General Solicitation. Neither the Purchaser, nor any of its officers, directors, employees, agents, stockholders
or partners has either directly or indirectly, including, through a broker or finder (i) engaged in any general solicitation,
or (ii) published any advertisement in connection with the offer and sale of the Forward Purchase Securities.

 

(l)          Residence. The Purchaser’s principal place of business is the office or offices located at the address of the
Purchaser set forth on the signature page hereof.

 

(m)         Adequacy of Financing. At the time of the Forward Closing, the Purchaser will have available to it sufficient funds
to satisfy its obligations under this Agreement.

 

(n)         Affiliation of Certain FINRA Members. The Purchaser is neither a person associated nor affiliated with Citigroup
Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. or, to its actual knowledge, any other member
of the Financial Industry Regulatory Authority (“FINRA”) that is participating in the IPO.

 

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(o)         No Other Representations and Warranties; Non-Reliance. Except for the specific representations and warranties contained
in this Section 2 and in any certificate or agreement delivered pursuant hereto, none of the Purchaser nor any person acting
on behalf of the Purchaser nor any of the Purchaser’s affiliates (the “Purchaser Parties”) has made, makes
or shall be deemed to make any other express or implied representation or warranty with respect to the Purchaser and this offering,
and the Purchaser Parties disclaim any such representation or warranty. Except for the specific representations and warranties
expressly made by the Company in Section 3 of this Agreement and in any certificate or agreement delivered pursuant hereto,
the Purchaser Parties specifically disclaim that they are relying upon any other representations or warranties that may have been
made by the Company, any person on behalf of the Company or any of the Company’s affiliates (collectively, the “Company
Parties”).

 

3.            Representations and Warranties of the Company. The Company represents and warrants to the Purchaser as follows:

 

(a)          Organization and Corporate Power. The Company is a corporation duly incorporated and validly existing and in good
standing as a corporation under the laws of the State of Delaware and has all requisite corporate power and authority to carry
on its business as presently conducted and as proposed to be conducted. The Company has no subsidiaries.

 

(b)          Capitalization. On the date hereof, the authorized share capital of the Company consists of:

 

(i)           150,000,000 Class A Shares, none of which are issued and outstanding.

 

(ii)          50,000,000 Class B Shares, 11,500,000 of which are issued and outstanding as of the date hereof. All of the outstanding
Class B Shares have been duly authorized, are fully paid and nonassessable and were issued in compliance with all applicable federal
and state securities laws.

 

(iii)         1,000,000 preferred shares, none of which are issued and outstanding.

 

(c)          Authorization. All corporate action required to be taken by the Company’s Board of Directors and stockholders
in order to authorize the Company to enter into this Agreement, and to issue the Forward Purchase Securities at the Forward Closing,
and the securities issuable upon exercise of the Forward Purchase Warrants, has been taken or will be taken prior to the Forward
Closing. All action on the part of the stockholders, directors and officers of the Company necessary for the execution and delivery
of this Agreement, the performance of all obligations of the Company under this Agreement to be performed as of the Forward Closing,
and the issuance and delivery of the Forward Purchase Securities and the securities issuable upon exercise of the Forward Purchase
Warrants has been taken or will be taken prior to the Forward Closing. This Agreement, when executed and delivered by the Company,
shall constitute the valid and legally binding obligation of the Company, enforceable against the Company in accordance with its
terms except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other
laws of general application relating to or affecting the enforcement of creditors’ rights generally, (ii) as limited
by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies, or (iii) to
the extent the indemnification provisions contained in the Registration Rights may be limited by applicable federal or state securities
laws.

 

(d)          Valid Issuance of Securities. The Forward Purchase Securities, when issued, sold and delivered in accordance with
the terms and for the consideration set forth in this Agreement, and the securities issuable upon exercise of the Forward Purchase
Warrants, when issued in accordance with the terms of the Forward Purchase Warrants and this Agreement, will be validly issued,
fully paid and nonassessable, as applicable, and free of all preemptive or similar rights, taxes, liens, encumbrances and charges
with respect to the issue thereof and restrictions on transfer other than restrictions on transfer specified under this Agreement,
applicable state and federal securities laws and liens or encumbrances created by or imposed by the Purchaser. Assuming the accuracy
of the representations of the Purchaser in this Agreement and subject to the filings described in Section 3(e) below, the
Forward Purchase Securities will be issued in compliance with all applicable federal and state securities laws.

 

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(e)          Governmental Consents and Filings. Assuming the accuracy of the representations made by the Purchaser in this Agreement,
no consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any federal,
state or local governmental authority is required on the part of the Company in connection with the consummation of the transactions
contemplated by this Agreement, except for filings pursuant to applicable state securities laws, if any, and pursuant to the Registration
Rights.

 

(f)           Compliance with Other Instruments. The execution, delivery and performance of this Agreement and the consummation
of the transactions contemplated by this Agreement will not result in any violation or default (i) of any provisions of the
Charter, bylaws or other governing documents of the Company, (ii) of any instrument, judgment, order, writ or decree to which
the Company is a party or by which it is bound, (iii) under any note, indenture or mortgage to which the Company is a party
or by which it is bound, (iv) under any lease, agreement, contract or purchase order to which the Company is a party or by
which it is bound or (v) of any provision of federal or state statute, rule or regulation applicable to the Company, in each
case (other than clause (i)) which would have a material adverse effect on the Company or its ability to consummate the transactions
contemplated by this Agreement.

 

(g)          Operations. As of the date hereof, the Company has not conducted, and prior to the IPO Closing the Company will not
conduct, any operations other than organizational activities and activities in connection with offerings of its securities.

 

(h)          No General Solicitation. Neither the Company, nor any of its officers, directors, employees, agents or stockholders
has either directly or indirectly, including, through a broker or finder (i) engaged in any general solicitation, or (ii) published
any advertisement in connection with the offer and sale of the Forward Purchase Securities.

 

(i)            No Other Representations and Warranties; Non-Reliance. Except for the specific representations and warranties contained
in this Section 3 and in any certificate or agreement delivered pursuant hereto, none of the Company Parties has made, makes
or shall be deemed to make any other express or implied representation or warranty with respect to the Company, this offering,
the proposed IPO or a potential Business Combination, and the Company Parties disclaim any such representation or warranty. Except
for the specific representations and warranties expressly made by the Purchaser in Section 2 of this Agreement and in any
certificate or agreement delivered pursuant hereto, the Company Parties specifically disclaim that they are relying upon any other
representations or warranties that may have been made by the Purchaser Parties.

 

4.             Registration Rights; Transfer

 

(a)          Registration. The Company agrees that it will use its commercially reasonable efforts to file with the SEC (at the
Company’s sole cost and expense), within thirty (30) calendar days after the Business Combination Closing, a registration
statement (the “Forward Registration Statement”) registering the resale of the Forward Purchase Securities and
the Class A Shares underlying the Forward Purchase Warrants (collectively, the “Registrable Securities”), and
the Company shall use its commercially reasonable efforts to have the Forward Registration Statement declared effective as soon
as practicable after the filing thereof; provided, however, that the Company’s obligations to include the Registrable Securities
in the Forward Registration Statement are contingent upon the Purchaser furnishing in writing to the Company such information regarding
the Purchaser, the securities of the Company held by the Purchaser and the intended method of disposition of the Registrable Securities
as shall be reasonably requested by the Company to effect the registration of the Registrable Securities, and shall execute such
documents in connection with such registration as the Company may reasonably request that are customary of a selling stockholder
in similar situations.

 

(b)          Indemnification.

 

(i)           The Company shall, notwithstanding any termination of this Agreement, indemnify, defend and hold harmless the Purchaser
(to the extent a seller under the Forward Registration Statement), the officers, directors, agents, partners, members, managers,
stockholders, affiliates, employees and investment advisers of the Purchaser, each person who controls the Purchaser (within the
meaning of Section 15 of the Securities Act or Section 20 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)), and the officers, directors, partners, members, managers, stockholders, agents, affiliates, employees and investment
advisers of each such controlling person, to the fullest extent permitted by applicable law, from and against any and all losses,
claims, damages, liabilities, costs (including, without limitation, reasonable costs of preparation and investigation and reasonable
attorneys’ fees) and expenses (collectively, “Losses”), as incurred, that arise out of or are based upon
(A) any untrue or alleged untrue statement of a material fact contained in the Forward Registration Statement, any prospectus
included in the Forward Registration Statement or any form of prospectus or in any amendment or supplement thereto or in any preliminary
prospectus, or arising out of or relating to any omission or alleged omission to state a material fact required to be stated therein
or necessary to make the statements therein (in the case of any prospectus or form of prospectus or supplement thereto, in light
of the circumstances under which they were made) not misleading, or (B) any violation or alleged violation by the Company
of the Securities Act, the Exchange Act or any state securities law or any rule or regulation thereunder, in connection with the
performance of its obligations under this Section 4, except to the extent, but only to the extent that such untrue statements,
alleged untrue statements, omissions or alleged omissions are based solely upon information regarding the Purchaser furnished in
writing to the Company by the Purchaser expressly for use therein. The Company shall notify the Purchaser promptly of the institution,
threat or assertion of any proceeding arising from or in connection with the transactions contemplated by this Section 4
of which the Company is aware. Such indemnity shall remain in full force and effect regardless of any investigation made by or
on behalf of an indemnified party and shall survive the transfer of the Registrable Securities by the Company.

 

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(ii)          The Purchaser shall, severally and not jointly with any other selling stockholder named in the Forward Registration Statement,
indemnify and hold harmless the Company, its directors, officers, agents and employees, each person who controls the Company (within
the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, agents or employees
of such controlling persons, to the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising
out of or that are based upon any untrue or alleged untrue statement of a material fact contained in the Forward Registration Statement,
any prospectus included in the Forward Registration Statement, or any form of prospectus, or in any amendment or supplement thereto
or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required
to be stated therein or necessary to make the statements therein (in the case of any prospectus, or any form of prospectus or supplement
thereto, in light of the circumstances under which they were made) not misleading to the extent, but only to the extent that such
untrue statements or omissions are based solely upon information regarding the Purchaser furnished in writing to the Company by
the Purchaser expressly for use therein. In no event shall the liability of the Purchaser be greater in amount than the dollar
amount of the net proceeds received by the Purchaser upon the sale of the Registrable Securities giving rise to such indemnification
obligation.

 

(c)          Transfer. This Agreement and all of the Purchaser’s rights and obligations hereunder (including the Purchaser’s
obligation to purchase the Forward Purchase Securities) may be transferred or assigned, at any time and from time to time, in whole
or in part, to one or more third parties (each such transferee, a “Transferee”). Upon any such assignment:

 

(i)          the applicable Transferee shall execute a signature page to this Agreement, substantially in the form of the Purchaser’s
signature page hereto (the “Joinder Agreement”), which shall reflect the number of Forward Purchase Shares and
Forward Purchase Warrants to be purchased by such Transferee (the “Transferee Securities”), and, upon such execution,
such Transferee shall have all the same rights and obligations of the Purchaser hereunder with respect to the Transferee Securities,
and references herein to the “Purchaser” shall be deemed to refer to and include any such Transferee with respect
to such Transferee and to its Transferee Securities; provided, that any representations, warranties, covenants and agreements of
the Purchaser and any such Transferee shall be several and not joint and shall be made as to the Purchaser or any such Transferee,
as applicable, as to itself only; and

 

(ii)           upon a Transferee’s execution and delivery of a Joinder Agreement, the number of Forward Purchase Shares and Forward
Purchase Warrants to be purchased by the Purchaser hereunder shall be reduced by the total number of Forward Purchase Shares and
Forward Purchase Warrants to be purchased by the applicable Transferee pursuant to the applicable Joinder Agreement, which reduction
shall be evidenced by the Purchaser and the Company amending Schedule A to this Agreement to reflect each transfer and updating
the “Number of Forward Purchase Shares”, “Number of Forward Purchase Warrants”, and “Aggregate Purchase
Price for Forward Purchase Securities” on the Purchaser’s signature page hereto to reflect such reduced number of Forward
Purchase Securities, and the Purchaser shall be fully and unconditionally released from its obligation to purchase such Transferee
Securities hereunder. For the avoidance of doubt, this Agreement need not be amended and restated in its entirety, but only Schedule
A and the Purchaser’s signature page hereto need be so amended and updated and executed by each of the Purchaser and the
Company upon the occurrence of any such transfer of Transferee Securities.

 

(d)          Additional Transfers. The Purchaser and the Company hereby covenant and agree that, in the event that any such transfer
or assignment is made pursuant to Section 4(c) above:

 

(i)           the Purchaser shall, directly or indirectly, transfer and assign to such Transferee (the “Additional Transfers”)
a proportionate number of the Sponsor Founder Shares and Private Placement Warrants (or the obligation to purchase such Private
Placement Warrants), in consideration of the payment by such Transferee to the Purchaser of the original purchase price paid by
the Purchaser for any such securities;

 

(ii)          the Purchaser and/or the Company, as applicable, shall enter into appropriate documentation with such Transferee to effect
the Additional Transfers and, as applicable, any new issuance of any such securities pursuant to such documentation; and

 

(iii)         the Company shall appropriately reflect any such Additional Transfers and issuances on its books and records or direct its
transfer agent to reflect any such Additional Transfers and issuances on the books and records of the Company.

 

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5.             Additional Agreements and Acknowledgements of the Purchaser.

 

(a)           Sponsor Founder Share Lock-up; Transfer Restrictions. The Purchaser agrees that it shall not Transfer (as defined
below) any Sponsor Founder Shares or any Class A Shares into which the Sponsor Founder Shares are convertible until the earlier
of (i) one year after the Business Combination Closing or (ii) the date following the Business Combination Closing on
which the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results
in all of the Company’s stockholders having the right to exchange their common stock for cash, securities or other property.
Notwithstanding the foregoing, if, subsequent to a Business Combination, the last sale price of the Class A Shares equals or exceeds
$12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading
days within any 30-trading day period commencing at least 150 days after the Business Combination Closing, the Sponsor Founder
Shares (and the Class A Shares into which the Sponsor Founder Shares are convertible) shall be released from the lockup referenced
herein. Notwithstanding the first sentence of this Section 5(a), Transfers of the Sponsor Founder Shares (and the Class
A Shares into which the Sponsor Founder Shares are convertible) are permitted (any such transferees, the “Permitted Transferees”)
(A) to the Company’s officers or directors, any affiliates or family members of any of the Company’s officers
or directors, any members of the Purchaser, or any affiliates of the Purchaser; (B) in the case of an individual, by gift
to a member of the individual’s immediate family, to a trust, the beneficiary of which is a member of individual’s
immediate family or an affiliate of such person, or to a charitable organization; (C) in the case of an individual, by virtue
of laws of descent and distribution upon death of the individual; (D) in the case of an individual, pursuant to a qualified
domestic relations order; (E) by private sales or transfers made in connection with the consummation of a Business Combination
at prices no greater than the price at which the securities were originally purchased; (F) in the event of the Company’s
liquidation prior to the completion of a Business Combination; (G) in the event of the Company’s liquidation, merger,
capital stock exchange, reorganization or other similar transaction which results in all of the Company’s stockholders having
the right to exchange their Class A Shares for cash, securities or other property subsequent to the completion of a Business Combination;
(H) as a distribution to limited partners, members or stockholders of the Purchaser; (I) to the Purchaser’s affiliates,
to any investment fund or other entity controlled or managed by the Purchaser or any of its affiliates, or to any investment manager
or investment advisor of the Purchaser or an affiliate of any such investment manager or investment advisor; (J) to a nominee
or custodian of a person or entity to whom a disposition or transfer would be permissible under clauses (A) through (I) above;
(K) to the Purchaser or any Transferee hereunder; (L) by virtue of the laws of the Purchaser’s jurisdiction of
formation or its organizational documents upon dissolution of the Purchaser; and (M) pursuant to an order of a court or regulatory
agency; provided, however, that in the case of clauses (A) through (E) and (H) through (L), these Permitted Transferees must enter
into a written agreement agreeing to be bound by these transfer restrictions. For purposes of this Section, “Transfer”
shall mean the (x) sale or assignment of, offer to sell, contract or agreement to sell, hypothecation, pledge, grant of any option
to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent
position or liquidation with respect to or decrease of a call equivalent position (within the meaning of Section 16 of the Exchange
Act, and the rules and regulations of the SEC promulgated thereunder) with respect to, any of the Forward Purchase Securities (excluding
any pledges in the ordinary course of business for bona fide financing purposes or as part of prime brokerage arrangements), (y)
entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership
of any of the Forward Purchase Securities, whether any such transaction is to be settled by delivery of such Forward Purchase Securities,
in cash or otherwise, or (z) public announcement of any intention to effect any transaction specified in clause (x) or (y).

 

(b)          Warrant Lock-up; Transfer Restrictions. The Purchaser agrees that it shall not Transfer any Private Placement Warrants
or any Forward Purchase Warrants (or Class A Shares issued or issuable upon the exercise of any such warrants) until 30 days after
the completion of a Business Combination, except that Transfers of the Private Placement Warrants and Forward Purchase Warrants
are permitted to any Permitted Transferee.

 

(c)          Potential Forfeiture. To the extent that the IPO Option is not exercised in full, the Purchaser shall forfeit to
the Company for no consideration, a number of Sponsor Founder Shares in the aggregate equal to the product of 1,500,000 multiplied
by a fraction, (i) the numerator of which is 6,000,000 minus the number of Public Units purchased upon the exercise of the
IPO Option, and (ii) the denominator of which is 6,000,000. The forfeiture will be adjusted to the extent that the IPO Option
is not exercised in full (or the Company increases or decreases the size of the IPO) so that the holders of the Class B Shares
immediately prior to the IPO will own an aggregate of 20.0% of the Company’s issued and outstanding common stock immediately
after the IPO.

 

(d)         Trust Account.

 

(i)           The Purchaser hereby acknowledges that it is aware that the Company will establish the Trust Account for the benefit of
its public stockholders upon the IPO Closing. The Purchaser, for itself and its affiliates, hereby agrees that it has no right,
title, interest or claim of any kind in or to any monies held in the Trust Account, or any other asset of the Company as a result
of any liquidation of the Company, except for redemption and liquidation rights, if any, the Purchaser may have in respect of any
Public Shares held by it.

 

(ii)         The Purchaser hereby agrees that it shall have no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future, except for redemption and liquidation rights, if any, the Purchaser may have in respect
of any Public Shares held by it. In the event the Purchaser has any Claim against the Company under this Agreement, the Purchaser
shall pursue such Claim solely against the Company and its assets outside the Trust Account and not against the property or any
monies in the Trust Account, except for redemption and liquidation rights, if any, the Purchaser may have in respect of any Public
Shares held by it.

  

    	 	8	 

     

    

 

(e)          Redemption and Liquidation. The Purchaser hereby waives, with respect to any Sponsor Founder Shares (including the
Class A Shares into which such Sponsor Founder Shares are convertible) held by it, any redemption rights it may have in connection
with (i) the consummation of a Business Combination, including, without limitation, any such rights available in the context
of a stockholder vote to approve such Business Combination and (ii) any stockholder vote to approve an amendment to the Charter
to modify the substance or timing of the Company’s obligation to redeem 100% of the Class A Shares sold in the IPO if the
Company has not consummated an initial Business Combination within 24 months from the IPO Closing or in the context of a tender
offer made by the Company to purchase Class A Shares, it being understood that the Purchaser shall be entitled to redemption and
liquidation rights with respect to any Public Shares held by it.

 

(f)           Voting. The Purchaser hereby agrees that if the Company seeks stockholder approval of a proposed Business Combination,
then in connection with such proposed Business Combination, the Purchaser shall vote any Class B Shares and Class A Shares owned
by it in favor of any proposed Business Combination.

 

(g)          No Short Sales. The Purchaser hereby agrees that neither it, nor any person or entity acting on its behalf or pursuant
to any understanding with it, will engage in any Short Sales with respect to securities of the Company prior to the Business Combination
Closing. For purposes of this Section, “Short Sales” shall include, without limitation, all “short
sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, and all types of direct and indirect
stock pledges (other than pledges in the ordinary course of business as part of prime brokerage arrangements), forward sale contracts,
options, puts, calls, swaps and similar arrangements (including on a total return basis), and sales and other transactions through
non-U.S. broker dealers or foreign regulated brokers.

 

6.             Listing. The Company will use commercially reasonable efforts to effect and maintain the listing of the Class A Shares
and Public Warrants on the NASDAQ Capital Market (or another national securities exchange).

 

7.             Forward Closing Conditions.

 

(a)          The obligation of the Purchaser to purchase the Forward Purchase Securities at the Forward Closing under this Agreement
shall be subject to the fulfillment, at or prior to the Forward Closing of each of the following conditions, any of which, to the
extent permitted by applicable laws, may be waived by the Purchaser:

 

(i)          The Business Combination shall be consummated substantially concurrently with the purchase of the Forward Purchase Securities;

 

(ii)        
The Business Combination shall be consummated with a company engaged in a business that is within the investment objectives
of NGP Natural Resources XI, L.P.

 

(iii)         The
Business Combination (including the target assets or business, and the terms of the Business Combination) shall be
reasonably acceptable to NGP Natural Resources XI, L.P.

 

(iv)        The Company shall have delivered to the Purchaser a certificate evidencing the Company’s good standing as a Delaware
corporation;

 

(v)         The representations and warranties of the Company set forth in Section 3 of this Agreement shall have been true and
correct as of the date hereof and shall be true and correct as of the Forward Closing Date, as applicable, with the same effect
as though such representations and warranties had been made on and as of such date (other than any such representation or warranty
that is made by its terms as of a specified date, which shall be true and correct as of such specified date), except where the
failure to be so true and correct would not have a material adverse effect on the Company or its ability to consummate the transactions
contemplated by this Agreement;

 

(vi)         The Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Forward Closing; and

 

(vii)        No order, writ, judgment, injunction, decree, determination, or award shall have been entered by or with any governmental,
regulatory, or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or
prohibition shall be in effect, preventing the purchase by the Purchaser of the Forward Purchase Securities.

 

(b)          The obligation of the Company to sell the Forward Purchase Securities at the Forward Closing under this Agreement shall
be subject to the fulfillment, at or prior to the Forward Closing of each of the following conditions, any of which, to the extent
permitted by applicable laws, may be waived by the Company:

 

(i)           The Business Combination shall be consummated substantially concurrently with the purchase of the Forward Purchase Securities;

 

    	 	9	 

     

    

 

(ii)         The representations and warranties of the Purchaser set forth in Section 2 of this Agreement shall have been true
and correct as of the date hereof and shall be true and correct as of the Forward Closing Date, as applicable, with the same effect
as though such representations and warranties had been made on and as of such date (other than any such representation or warranty
that is made by its terms as of a specified date, which shall be true and correct as of such specified date), except where the
failure to be so true and correct would not have a material adverse effect on the Purchaser or its ability to consummate the transactions
contemplated by this Agreement;

 

(iii)        The Purchaser shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by the Purchaser at or prior to the Forward Closing; and

 

(iv)        No order, writ, judgment, injunction, decree, determination, or award shall have been entered by or with any governmental,
regulatory, or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or
prohibition shall be in effect, preventing the purchase by the Purchaser of the Forward Purchase Securities.

 

8.             Termination. This Agreement may be terminated at any time prior to the Forward Closing:

 

(a)         by mutual written consent of the Company and the Purchaser;

 

(b)         automatically

 

(i)           if the IPO is not consummated on or prior to June 30, 2017;

 

(ii)          if the Business Combination is not consummated within 24 months from the IPO Closing, unless extended up to a maximum of
sixty (60) days in accordance with the Charter; or

 

(iii)         if the Purchaser or the Company becomes subject to any voluntary or involuntary petition under the United States federal
bankruptcy laws or any state insolvency law, in each case which is not withdrawn within sixty (60) days after being filed, or a
receiver, fiscal agent or similar officer is appointed by a court for business or property of the Purchaser or the Company, in
each case which is not removed, withdrawn or terminated within sixty (60) days after such appointment.

 

In the event of any termination
of this Agreement pursuant to this Section 8, the Forward Purchase Price (and interest thereon, if any), if previously paid,
and all Purchaser’s funds paid in connection herewith shall be promptly returned to the Purchaser, and thereafter this Agreement
shall forthwith become null and void and have no effect, without any liability on the part of the Purchaser or the Company and
their respective directors, officers, employees, partners, managers, members, or stockholders and all rights and obligations of
each party shall cease; provided, however, that nothing contained in this Section 8 shall relieve either party from liabilities
or damages arising out of any fraud or willful breach by such party of any of its representations, warranties, covenants or agreements
contained in this Agreement.

 

9.            General Provisions.

 

(a)          Notices. All notices and other communications given or made pursuant to this Agreement shall be in writing and shall
be deemed effectively given upon the earlier of actual receipt, or (i) personal delivery to the party to be notified, (ii) when
sent, if sent by electronic mail or facsimile (if any) during normal business hours of the recipient, and if not sent during normal
business hours, then on the recipient’s next Business Day, (iii) five (5) Business Days after having been sent by registered
or certified mail, return receipt requested, postage prepaid, or (iv) one (1) Business Day after deposit with a nationally
recognized overnight courier, freight prepaid, specifying next Business Day delivery, with written verification of receipt. All
communications sent to the Company shall be sent to: Vantage Energy Acquisition Corp., 5221 N. O’Connor Boulevard, 11th Floor,
Irving, Texas 75039, Attention: Secretary, with a copy to the Company’s counsel at Vinson & Elkins L.L.P., 1001 Fannin
Street, Suite 2500, Houston, Texas 77002, Attention: Ramey Layne.

 

    	 	10	 

     

    

 

All communications to the
Purchaser shall be sent to the Purchaser’s address as set forth on the signature page hereof, or to such e-mail address,
facsimile number (if any) or address as subsequently modified by written notice given in accordance with this Section 9(a).

 

(b)          No Finder’s Fees. Each party represents that it neither is nor will be obligated for any finder’s fee
or commission in connection with this transaction. The Purchaser agrees to indemnify and to hold harmless the Company from any
liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction
(and the costs and expenses of defending against such liability or asserted liability) for which the Purchaser or any of its officers,
employees or representatives is responsible. The Company agrees to indemnify and hold harmless the Purchaser from any liability
for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this transaction (and
the costs and expenses of defending against such liability or asserted liability) for which the Company or any of its officers,
employees or representatives is responsible.

 

(c)          Survival of Representations and Warranties. All of the representations and warranties contained herein shall survive
the Forward Closing.

 

(d)          Entire Agreement. This Agreement, together with any documents, instruments and writings that are delivered pursuant
hereto or referenced herein, constitute the entire agreement and understanding of the parties hereto in respect of its subject
matter and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral,
to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby.

 

(e)         Successors. All of the terms, agreements, covenants, representations, warranties, and conditions of this Agreement
are binding upon, and inure to the benefit of and are enforceable by, the parties hereto and their respective successors. Nothing
in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors
and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided
in this Agreement.

 

(f)          Assignments. Except as otherwise specifically provided herein, no party hereto may assign either this Agreement or
any of its rights, interests, or obligations hereunder without the prior written approval of the other party.

 

(g)          Counterparts. This Agreement may be executed in two or more counterparts, each of which will be deemed an original
but all of which together will constitute one and the same instrument.

 

(h)          Headings. The section headings contained in this Agreement are inserted for convenience only and will not affect
in any way the meaning or interpretation of this Agreement.

 

(i)           Governing Law. This Agreement, the entire relationship of the parties hereto, and any litigation between the parties
(whether grounded in contract, tort, statute, law or equity) shall be governed by, construed in accordance with, and interpreted
pursuant to the laws of the State of New York, without giving effect to its choice of laws principles.

 

(j)           Jurisdiction. The parties (i) hereby irrevocably and unconditionally submit to the jurisdiction of the state
courts of New York and to the jurisdiction of the United States District Court for the Southern District of New York for the purpose
of any suit, action or other proceeding arising out of or based upon this Agreement, (ii) agree not to commence any suit,
action or other proceeding arising out of or based upon this Agreement except in state courts of New York or the United States
District Court for the Southern District of New York, and (iii) hereby waive, and agree not to assert, by way of motion, as
a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction
of the above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or proceeding
is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the
subject matter hereof may not be enforced in or by such court.

 

    	 	11	 

     

    

 

(k)          Waiver of Jury Trial. The parties hereto hereby waive any right to a jury trial in connection with any litigation
pursuant to this Agreement and the transactions contemplated hereby.

 

(l)           Amendments. This Agreement may not be amended, modified or waived as to any particular provision, except with the
prior written consent of the Company and the Purchaser.

 

(m)         Severability. The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of
any provision will not affect the validity or enforceability of the other provisions hereof; provided that if any provision of
this Agreement, as applied to any party hereto or to any circumstance, is adjudged by a governmental authority, arbitrator, or
mediator not to be enforceable in accordance with its terms, the parties hereto agree that the governmental authority, arbitrator,
or mediator making such determination will have the power to modify the provision in a manner consistent with its objectives such
that it is enforceable, and/or to delete specific words or phrases, and in its reduced form, such provision will then be enforceable
and will be enforced.

 

(n)          Expenses. Each of the Company and the Purchaser will bear its own costs and expenses incurred in connection with
the preparation, execution and performance of this Agreement and the consummation of the transactions contemplated hereby, including
all fees and expenses of agents, representatives, financial advisors, legal counsel and accountants. The Company shall be responsible
for the fees of its transfer agent; stamp taxes and all The Depository Trust Company fees associated with the issuance of the Forward
Purchase Securities and the securities issuable upon exercise of the Forward Purchase Warrants.

 

(o)          Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If
an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties
hereto and no presumption or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any
provision of this Agreement. Any reference to any federal, state, local, or foreign law will be deemed also to refer to law as
amended and all rules and regulations promulgated thereunder, unless the context requires otherwise. The words “include,”
“includes,” and “including” will be deemed to be followed by “without limitation.” Pronouns
in masculine, feminine, and neuter genders will be construed to include any other gender, and words in the singular form will be
construed to include the plural and vice versa, unless the context otherwise requires. The words “this Agreement,”
“herein,” “hereof,” “hereby,” “hereunder,” and words of similar import refer to
this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties hereto intend that each
representation, warranty, and covenant contained herein will have independent significance. If any party hereto has breached any
representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty
or covenant relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has
not breached will not detract from or mitigate the fact that such party hereto is in breach of the first representation, warranty,
or covenant.

 

(p)         Waiver. No waiver by any party hereto of any default, misrepresentation, or breach of warranty or covenant hereunder,
whether intentional or not, may be deemed to extend to any prior or subsequent default, misrepresentation, or breach of warranty
or covenant hereunder or affect in any way any rights arising because of any prior or subsequent occurrence.

 

(q)         Specific Performance. The Purchaser agrees that irreparable damage may occur in the event any provision of this Agreement
was not performed by the Purchaser in accordance with the terms hereof and that the Company shall be entitled to specific performance
of the terms hereof, in addition to any other remedy at law or equity.

 

[Signature page follows]

 

    	 	12	 

     

    

 

IN
WITNESS WHEREOF, the undersigned have executed this Agreement to be effective as of the date first set forth above.

 

	 	PURCHASER:
	 	 
	 	NGP VANTAGE ENERGY LLC
	 	 
	 	By:	       
	 	 	Name:
	 	 	Title:
	 	 	 
	 	Address for Notices: 5221 N. O’Connor Boulevard, 11th
	 	 	    Floor, Irving, Texas 75039

	 	 	 
	 	E-mail:	 
	 	Fax:	 
	 	 
	 	COMPANY:
	 	 
	 	VANTAGE ENERGY ACQUISITION CORP.
	 	 
	 	By:	               
	 	 	Name:Jeffrey A. Zlotky
	 	 	Title:  Secretary

  

[To
be completed by the Company]

 

Number
of Forward Purchase Shares:                                                     

 

Number
of Forward Purchase Warrants:                                                        

 

Aggregate
Purchase Price for Forward Purchase Securities: $                                     

 

TO
BE EXECUTED UPON ANY ASSIGNMENT AND/OR REVISION IN ACCORDANCE WITH THIS AGREEMENT TO “NUMBER OF FORWARD PURCHASE SHARES,”
“NUMBER OF FORWARD PURCHASE WARRANTS” AND “AGGREGATE PURCHASE PRICE FOR FORWARD PURCHASE SECURITIES” SET
FORTH ABOVE:

 

Number
of Forward Purchase Shares, Number of Forward Purchase Warrants and Aggregate Purchase Price for Forward Purchase Securities as
of                , 201[  ], accepted and
agreed to as of this       day of           , 201[  ].

  

	 	NGP VANTAGE ENERGY LLC
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	VANTAGE ENERGY ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	 	Name: Jeffrey A. Zlotky
	 	 	Title:   Secretary

 

[Signature Page to Forward
Purchase Agreement] 

    	 	13	 

     

    

 

Schedule
A

SCHEDULE OF TRANSFERS OF FORWARD PURCHASE SECURITIES

 

The
following transfers of a portion of the original number of Forward Purchase Shares and Forward Purchase Warrants have been made:

 

	Date
        of Transfer
	Transferee
	Number
        of Forward Purchase Shares Transferred
	Number
        of Forward Purchase Warrants Transferred
	Purchaser
        Revised Forward Purchase Share Amount
	Purchaser
        Revised Forward Purchase Warrant Amount

	 	 	 	 	 	 

 

TO
BE EXECUTED UPON ANY ASSIGNMENT OR FINAL DETERMINATION OF FORWARD PURCHASE SECURITIES:

 

Schedule
A as of                , 201[  ], accepted
and agreed to as of this       day of           , 201[   ]
by:

  

	NGP VANTAGE ENERGY LLC	 	VANTAGE ENERGY ACQUISITION CORP.
	 	 	 	 	 
	By:	              	 	By:	               
	 	Name:	 	 	Name:
	 	Title:	 	 	Title:Exhibit 10.51

 

April 3, 2017

 

Telcare Medical Supply, LLC.

150 Baker Avenue, Ext #300

Concord MA 01742

 

VIA ELECTRONIC MAIL

 

Re: Agreement to Convert – Promissory
Note

Gentlemen/Ladies:

 

You are being sent this letter as you are
currently the holder of an Amended and Restated Non-Negotiable Promissory Note dated February 28, 2017 (the “Note”)
issued by ActiveCare, Inc. (the “Company”) in the original principal amount of $2,523,937.48 (“Original Principal
Amount”). As of March 31, 2017, you are owed remaining principal of $1,773,937.48 (“Principal Amount”), along
with accrued interest of $3,674.50 through March 31, 2017 (the “Interest Amount” and, together with the Principal
Amount, the “Note Obligation”). As an incentive to the requested conversion as set forth below, the Company has agreed
increase the Note Obligation by the sum of $502,388.02 (the “Incentive Amount”) resulting in an aggregate Note Obligation
of $2,280,000 (the “Total Note Obligation”).

 

Our Current Financing

 

As you may be aware, the Company is currently
in the process of pursuing a public offering of its securities to raise up to $19,550,000 and list its securities onto the NASDAQ
(the “Offering”). The Company has filed a registration statement on Form S-1 related to the Offering which
is being led by Joseph Gunnar & Co (the “Underwriter”). The Company believes that attaining and maintaining
the listing of our Common Stock on NASDAQ is in the best interests of our Company and its stockholders, because if listed on NASDAQ,
the Company believes that the liquidity in the trading of its Common Stock could be significantly enhanced, which could result
in an increase in the trading price and may encourage investor interest and improve the marketability of our Common Stock to a
broader range of investors. The Company is therefore contacting you and other holders of debt and preferred stock, to request
holders to convert their holdings into Common Stock.

 

What We Need From You

By executing and delivering this
letter, you will hereby agree to automatically convert upon closing of the Offering (the “Automatic Conversion”),
the Total Note Obligation into restricted shares of Common Stock at a conversion price equal to the combined price per share and
warrant paid by investors in the Offering (the “Conversion Price”). By way of example, in the event the Total
Note Obligation is $2,280,000 and the Conversion Price is $5.00, then the terms of the Automatic Conversion shall result in the
issuance of 456,000 shares of Common Stock to you. Upon the triggering of Automatic Conversion,
the Company shall send you prompt written
notice (the “Automatic Conversion Notice”)
specifying the Conversion Price and date upon which such conversion was effective
(the “Effective Date”) and the number of shares of Common Stock
to be issued to you upon conversion. The Automatic Conversion Notice will also contain instructions on surrendering to the Company
your original Note; provided, however, the Automatic Conversion shall be effective on the Effective Date whether or not you surrender
the Note, which shall be null and void on the Effective Date.

    

     

    

 

By your agreement and acknowledgment below,
this Letter Agreement shall serve as written confirmation that:

 

(a)               
You agree to the terms of the Automatic Conversion.

 

(b)              
You acknowledge and agree that, upon conversion of the Note on the Effective Date, you waive your rights under the Note with respect
to Company’s defaults, events of default or failure to comply with covenants, if any, arising therefrom through the date
hereof.

 

(c)               
You acknowledge and agree that legends will be placed on the certificates representing the shares of Common Stock to be issued
to you upon the Automatic Conversion to the effect that such securities have not been registered under the Securities Act or applicable
state securities laws and appropriate notations thereof will be made in the Company’s books. You further acknowledge and
agree that the holding period for purposes of Rule 144 with respect to the shares of Common Stock to be issued to you upon the
Automatic Conversion shall commence upon the Effective Date and agree that you will not hereinafter take any contrary positions
with respect to tacking your holding period to earlier periods, including without limitation, the date of the Note.

 

(d)              
You acknowledge and agree that notwithstanding anything contained herein, in the event the Offering is not consummated on or before
April 30, 2017, this Letter Agreement will terminate and shall be of no further force and effect, the Note will continue in effect
as in effect on the date hereof and the Incentive Amount will not be added to the Note Obligation.

 

By signing below, this Letter Agreement shall
serve as written confirmation that you have reviewed this Letter Agreement (and consulted with your legal and tax advisors to the
extent you deemed necessary) and agree to the terms and conditions of the Automatic Conversion as described herein. Upon the Effective
Date of such conversion, you understand that you will be releasing and discharging the Company and its affiliates from any and
all obligations and duties that such persons may have to you with respect to the Note.

 

This Letter Agreement contains the entire understanding
between and among the parties and supersedes any prior understandings and agreements among them respecting the subject matter of
this Letter Agreement. In addition, you hereby represent that you meet the requirements of at least one of the suitability standards
for an “accredited investor” as that term is defined in Regulation D promulgated under the Securities Act of 1933,
as amended and that you have had the opportunity to obtain any additional information, to the extent the Company has such information
in its possession or could acquire it without unreasonable effort or expense, necessary in connection with the matters set forth
in this Letter Agreement including, without limitation, information concerning the financial condition, results of operations,
capitalization and business of the Company deemed relevant by you or your advisors, if any, and all such requested information,
to the extent the Company had such information in its possession or could acquire it without unreasonable effort or expense, has
been provided to your full satisfaction. This Letter Agreement shall be governed by and construed in accordance with the laws of
the State of Delaware without regard to choice of law principles. This Letter Agreement may be executed in any number of counterparts,
each of which shall be an original but all of which together shall constitute one and the same instrument. In case any provision
of this Letter Agreement shall be held to be invalid, illegal or unenforceable, such provision shall be severable from the rest
of this Letter Agreement, and the validity legality and enforceability of the remaining provisions shall not in any way be affected
or impaired thereby.

 

    

     

    

 

This letter evidences waiver by the undersigned
with respect to any and all defaults or events of default by the Company with respect to any failure by the Company to comply with
any covenants contained in the Note.

 

Nothing contained herein shall have any effect
on other agreements that are in effect between you and the Company including without limitation that certain Product Agreement
dated March 21, 2016 which remains in full force and effect.

 

The parties hereby consent and agree that if
this Letter Agreement shall at any time be deemed by the parties for any reason insufficient, in whole or in part, to carry out
the true intent and spirit hereof or thereof, the parties will execute or cause to be executed such other and further assurances
and documents as in the reasonable opinion of the parties may be reasonably required in order more effectively to accomplish the
purposes of this Letter Agreement.

 

 

 

***REMAINDER OF PAGE INTENTIONALLY LEFT BLANK***

 

    

     

    

 

Please indicate confirmation of the terms provided
herein by executing and returning this letter in the space provided below.

 

Very truly yours,

ACTIVECARE, INC. 

 

By: ___________________________

Name:Jeffrey Peterson

Title:Chief Executive Officer

 

Date: _________________

 

ACCEPTED AND AGREED:

 

TELCARE MEDICAL SUPPLY,
LLC

___________________________

Name:

Title:

Date: _____________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00269-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00269-of-00352.parquet"}]]