Document:

Prepared by R.R. Donnelley Financial -- EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 

SILICON VALLEY BANK 

GUARANTEE AND COLLATERAL AGREEMENT 
  

 
  

GUARANTEE AND COLLATERAL AGREEMENT 

Dated as of October 24, 2014, 

made by 
 VIOLIN MEMORY, INC.,

 and the other Grantors referred to herein and from time to time parties hereto, 

in favor of 
 SILICON VALLEY
BANK, 
 as Administrative Agent 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	SECTION 1.	 	 DEFINED TERMS
	  	 	1	  
	1.1	 	 Definitions
	  	 	1	  
	1.2	 	 Other Definitional Provisions
	  	 	2	  
			
	SECTION 2.	 	 GUARANTEE
	  	 	2	  
			
	2.1	 	 Guarantee
	  	 	2	  
	2.2	 	 Right of Contribution
	  	 	3	  
	2.3	 	 No Subrogation
	  	 	3	  
	2.4	 	 Amendments, Etc
	  	 	4	  
	2.5	 	 Guarantee Absolute and Unconditional; Guarantor Waivers; Guarantor Consents
	  	 	4	  
	2.6	 	 Reserved
	  	 	6	  
	2.7	 	 Reinstatement
	  	 	6	  
	2.8	 	 Payments
	  	 	7	  
			
	SECTION 3.	 	 GRANT OF SECURITY INTEREST
	  	 	7	  
			
	3.1	 	 Grant of Security Interests
	  	 	7	  
	3.2	 	 Grantors Remain Liable
	  	 	7	  
	3.3	 	 Perfection and Priority
	  	 	7	  
			
	SECTION 4.	 	 REPRESENTATIONS AND WARRANTIES
	  	 	8	  
			
	4.1	 	 Title; No Other Liens
	  	 	8	  
	4.2	 	 Perfected Liens
	  	 	8	  
	4.3	 	 Jurisdiction of Organization; Chief Executive Office and Locations of Books
	  	 	8	  
	4.4	 	 Deposit and Securities Accounts
	  	 	8	  
	4.5	 	 Accounts Receivable
	  	 	9	  
	4.6	 	 Instruments
	  	 	9	  
			
	SECTION 5.	 	 COVENANTS
	  	 	9	  
			
	5.1	 	 Delivery of Instruments and Chattel Paper
	  	 	9	  
	5.2	 	 Maintenance of Insurance
	  	 	9	  
	5.3	 	 Maintenance of Perfected Security Interest; Further Documentation
	  	 	10	  
	5.4	 	 Changes in Locations, Name, Etc
	  	 	10	  
	5.5	 	 Notices
	  	 	11	  
	5.6	 	 Deposit and Securities Accounts
	  	 	11	  
	5.7	 	 Accounts Receivables
	  	 	11	  
	5.8	 	 Defense of Collateral
	  	 	11	  
	5.9	 	 Preservation of Collateral
	  	 	11	  
	5.10	 	 Compliance with Laws, Etc
	  	 	11	  
	5.11	 	 Location of Books and Chief Executive Office
	  	 	11	  
	5.12	 	 Maintenance of Records
	  	 	12	  
	5.13	 	 Disposition of Collateral
	  	 	12	  
	5.14	 	 Liens
	  	 	12	  
	5.15	 	 Expenses
	  	 	12	  
	5.16	 	 Chattel Paper
	  	 	12	  

  
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 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	SECTION 6.	 	 REMEDIAL PROVISIONS
	  	 	12	  
			
	6.1	 	 Certain Matters Relating to Accounts Receivable
	  	 	12	  
	6.2	 	 Communications with Obligors; Grantors Remain Liable
	  	 	13	  
	6.3	 	 Application of Deposit Account and Securities Account Funds
	  	 	13	  
	6.4	 	 Proceeds to be Turned Over To Administrative Agent
	  	 	13	  
	6.5	 	 Application of Proceeds
	  	 	14	  
	6.6	 	 Code and Other Remedies
	  	 	14	  
	6.7	 	 Intellectual Property License
	  	 	15	  
	6.8	 	 Deficiency
	  	 	15	  
			
	SECTION 7.	 	 THE ADMINISTRATIVE AGENT
	  	 	15	  
			
	7.1	 	 Administrative Agent’s Appointment as Attorney-in-Fact, etc
	  	 	15	  
	7.2	 	 Duty of Administrative Agent
	  	 	16	  
	7.3	 	 Authority of Administrative Agent
	  	 	16	  
			
	SECTION 8.	 	 MISCELLANEOUS
	  	 	17	  
			
	8.1	 	 Amendments in Writing
	  	 	17	  
	8.2	 	 Notices
	  	 	17	  
	8.3	 	 No Waiver by Course of Conduct; Cumulative Remedies
	  	 	17	  
	8.4	 	 Enforcement Expenses; Indemnification
	  	 	17	  
	8.5	 	 Successors and Assigns
	  	 	18	  
	8.6	 	 Set Off
	  	 	19	  
	8.7	 	 Counterparts
	  	 	19	  
	8.8	 	 Severability
	  	 	19	  
	8.9	 	 Section Headings
	  	 	19	  
	8.10	 	 Integration
	  	 	19	  
	8.11	 	 GOVERNING LAW; Submission to Jurisdiction; Jury Trial Waiver
	  	 	19	  
	8.12	 	 Acknowledgements
	  	 	20	  
	8.13	 	 Additional Grantors
	  	 	20	  
	8.14	 	 Releases
	  	 	20	  

  
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 TABLE OF CONTENTS 

(continued) 
 SCHEDULES 

Schedule 1 Notice Addresses of Grantors 
 Schedule 3 Filings and
Other Actions Required to Perfect Security Interests 
 Schedule 4 Location of Jurisdictions of Organization, Chief Executive Office and Location of Books

 Schedule 5 Deposit and Securities Accounts 
 ANNEXES 

Annex 1 Form of Assumption Agreement 
  

			
	
	 EXHIBITS

	Exhibit A:	 	Form of Guarantee and Collateral Agreement
	Exhibit B:	 	Form of Compliance Certificate
	Exhibit C:	 	Form of Secretary’s Certificate
	Exhibit D:	 	Form of Solvency Certificate
	Exhibit E:	 	Form of Assignment and Assumption
	Exhibits F-1 – F-4:	 	 Forms of U.S. Tax Compliance Certificates

	Exhibit G:	 	Form of Addendum
	Exhibit H-1:	 	Form of Formula-Based Revolving Loan Note
	Exhibit H-2:	 	Form of Non-Formula-Based Revolving Loan Note
	Exhibit I:	 	Form of Borrowing Base Certificate
	Exhibit J:	 	Form of Subsidiary Borrower Joinder Agreement
	Exhibit K:	 	Form of Notice of Borrowing
	Exhibit L:	 	Form of Notice of Conversion/Continuation

  

  
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 GUARANTEE AND COLLATERAL AGREEMENT 

This GUARANTEE AND COLLATERAL AGREEMENT (this “Agreement”), dated as of October 24, 2014, is made by each of the
signatories hereto (together with any other entity that may become a party hereto as provided herein (each a “Grantor” and, collectively, the “Grantors”), in favor of SILICON VALLEY BANK
(“SVB”), as administrative agent (together with its successors, in such capacity, the “Administrative Agent”) for the banks and other financial institutions or entities (each a
“Lender” and, collectively, the “Lenders”) from time to time parties to that certain Credit Agreement, dated as of the date hereof (as amended, amended and restated, supplemented, restructured or
otherwise modified, renewed or replaced from time to time, the “Credit Agreement”), among Violin Memory, Inc., a Delaware corporation (the “Borrower”), the Subsidiary Borrowers named therein and a
party thereto, the Lenders party thereto and the Administrative Agent. 
 RECITALS 

WHEREAS, the Borrower, the Subsidiary Borrowers, the Lenders and the Administrative Agent are parties to the Credit Agreement; 

WHEREAS, the proceeds of the extensions of credit under the Credit Agreement will be used in part to enable the Grantors to make valuable
transfers to one or more members of an Affiliated group of companies that includes the other Grantors in connection with the operation of their respective businesses; 

WHEREAS, each Co-Borrower and the other Grantors are engaged in related businesses, and each Co-Borrower and each other Grantor derives
substantial direct and indirect benefit from the extensions of credit under the Credit Agreement; and 
 WHEREAS, it is a condition
precedent to the Closing Date and to the initial extension of credit under the Credit Agreement that the Grantors shall have delivered this Agreement in favor of the Administrative Agent for the ratable benefit of the Secured Parties. 

NOW, THEREFORE, in consideration of the above premises, the parties hereto hereby agree as follows: 

SECTION 1. DEFINED TERMS. 
 1.1
Definitions. 
 (a) Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the respective
meanings given to such terms in the Credit Agreement, and the following terms are used herein as defined in the UCC: Chattel Paper, Deposit Account, Instrument, Money, and Supporting Obligation. 

(b) The following terms shall have the following meanings: 

“Accounts Receivable”: with respect to any Grantor, as defined in Section 3.1(a). 

“Agreement”: as defined in the preamble hereto. 

“Assumption Agreement”: is an Assumption Agreement in substantially the form set forth at Annex 1. 

  
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 “Books”: all books, records and other written, electronic or other
documentation in whatever form maintained now or hereafter by or for any Grantor in connection with the ownership of its assets or the conduct of its business or evidencing or containing information relating to the Collateral, including:
(a) ledgers; (b) records indicating, summarizing, or evidencing such Grantor’s assets (including its Accounts Receivable), business operations or financial condition; (c) computer programs and software; (d) computer discs,
tapes, files, manuals, spreadsheets; (e) computer printouts and output of whatever kind; (f) any other computer prepared or electronically stored, collected or reported information and equipment of any kind; and (g) any and all other
rights now or hereafter arising out of any contract or agreement between such Grantor and any service bureau, computer or data processing company or other Person charged with preparing or maintaining any of such Grantor’s books or records or
with credit reporting, including with regard to any of such Grantor’s Accounts Receivable. 
 “Borrower”: as
defined in the preamble hereto. 
 “Collateral”: as defined in Section 3.1. 

“Collateral Account”: the Designated Deposit Account and any other Deposit Account or Securities Account of any
Grantor over which the Administrative Agent has “control” within the meaning of Section 9104 of the UCC. 

“Credit Agreement”: as defined in the recitals to this Agreement. 

“Grantor”: is any Loan Party that is party hereto as of the date hereof or that accedes hereto as a
“Grantor” pursuant to an Assumption Agreement executed and delivered to the Administrative Agent in accordance with the terms hereof. 

“Guarantor”: as defined in Section 2.1(a). 

“Investment Property”: the collective reference to all “investment property” as such term is defined in
Section 9-102(a)(49) of the UCC. 
 “Lender”: as defined in the preamble hereto. 

“Proceeds”: all “proceeds” as such term is defined in Section 9102(a)(64) of the UCC. 

“Secured Obligations”: collectively, the “Obligations”, as such term is defined in the Credit Agreement.

 “Secured Parties”: the collective reference to the Administrative Agent and the Lenders.

 1.2 Other Definitional Provisions. The rules of interpretation set forth in Section 1.2 of the Credit Agreement are
by this reference incorporated herein, mutatis mutandis, as if set forth herein in full. 
 SECTION 2. GUARANTEE. 

2.1 Guarantee. 
 (a) At
such time that the Borrower, at its sole discretion, consents to any Grantor becoming a Guarantor hereunder, each such Grantor, together with any Material Domestic Subsidiary of any such Grantor who accedes to this Agreement as a Guarantor with the
consent of the Borrower (each, a “Guarantor” and, collectively, the “Guarantors”), hereby jointly and severally, unconditionally and irrevocably, guarantees to the Administrative Agent, for the ratable
benefit of the Secured Parties and 

  
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their respective successors, indorsees, transferees and assigns, the prompt and complete payment and performance by the Co-Borrowers and the other Loan Parties when due (whether at the stated
maturity, by acceleration or otherwise) of the Secured Obligations. In furtherance of the foregoing, and without limiting the generality thereof, each Guarantor agrees as follows: 

(i) each Guarantor’s liability hereunder shall be the immediate, direct, and primary obligation of such Guarantor and shall not be
contingent upon the Administrative Agent’s or any Secured Party’s exercise or enforcement of any remedy it or they may have against any Co-Borrower, any other Guarantor, any other Person, or all or any portion of the Collateral; and 

(ii) the Administrative Agent may enforce this guaranty notwithstanding the existence of any dispute between any of the Secured Parties and
the Borrower, any Subsidiary Borrower or any other Guarantor with respect to the existence of any Event of Default. 
 (b) Anything herein or
in any other Loan Document to the contrary notwithstanding, the maximum liability of each Guarantor hereunder and under the other Loan Documents shall in no event exceed the amount which can be guaranteed by such Guarantor under applicable federal
and state laws relating to the insolvency of debtors (after giving effect to the right of contribution established in Section 2.2). 

(c) Each Guarantor agrees that the Secured Obligations may at any time and from time to time exceed the amount of the liability of such
Guarantor hereunder without impairing the guarantee contained in this Section 2 or affecting the rights and remedies of the Administrative Agent or any other Secured Party hereunder. 

(d) The guarantee contained in this Section 2 shall remain in full force and effect until the occurrence of the Discharge of
Obligations, notwithstanding that from time to time during the term of the Credit Agreement the outstanding amount of the Secured Obligations may be zero. 

(e) No payment made by any Co-Borrower, any Guarantor, any other guarantor or any other Person or received or collected by the Administrative
Agent or any other Secured Party from any Co-Borrower, any Guarantor, any other guarantor or any other Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in
payment of the Secured Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Guarantor hereunder which shall, notwithstanding any such payment (other than any payment made by such Guarantor in respect of the
Secured Obligations or any payment received or collected from such Guarantor in respect of the Secured Obligations), remain liable for the Secured Obligations up to the maximum liability of such Guarantor hereunder until the Discharge of
Obligations. 
 2.2 Right of Contribution. If in connection with any payment made by any Guarantor hereunder any rights of
contribution arise in favor of such Guarantor against one or more other Guarantors, such rights of contribution shall be subject to the terms and conditions of Section 2.3. The provisions of this Section 2.2 shall in no
respect limit the obligations and liabilities of any Guarantor to the Administrative Agent and the other Secured Parties, and each Guarantor shall remain liable to the Administrative Agent and the other Secured Parties for the full amount guaranteed
by such Guarantor hereunder. 
 2.3 No Subrogation. Notwithstanding any payment made by any Guarantor hereunder or any setoff or
application of funds of any Guarantor by the Administrative Agent or any other Secured Party, no Guarantor shall be entitled to be subrogated to any of the rights of the Administrative Agent or any other Secured Party against any Co-Borrower or any
other Grantor or any other Guarantor or any Collateral or guarantee or right of offset held by the Administrative Agent or any other Secured Party for 

  
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the payment of the Secured Obligations, nor shall any Guarantor seek or be entitled to seek any contribution or reimbursement from any Co-Borrower or any other Grantor or any other Guarantor in
respect of payments made by such Guarantor hereunder, in each case, until the Discharge of Obligations. If any amount shall be paid to any Guarantor on account of such subrogation rights at any time prior to the Discharge of Obligations, such amount
shall be held by such Guarantor in trust for the Administrative Agent and the other Secured Parties, shall be segregated from other funds of such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to the Administrative
Agent in the exact form received by such Guarantor (duly indorsed by such Guarantor to the Administrative Agent, if required), to be applied in such order as set forth in Section 6.5 hereof irrespective of the occurrence or the
continuance of any Event of Default. 
 2.4 Amendments, Etc. with Respect to the Secured Obligations. Each Guarantor shall remain
obligated hereunder notwithstanding that, without any reservation of rights against any Guarantor and without notice to or further assent by any Guarantor, any demand for payment of any of the Secured Obligations made by the Administrative Agent or
any other Secured Party may be rescinded by the Administrative Agent or such Secured Party and any of the Secured Obligations continued, and the Secured Obligations, or the liability of any other Person upon or for any part thereof, or any
collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative
Agent or any other Secured Party, and the Credit Agreement, the other Loan Documents (other than the Warrant), and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or
in part, as the Administrative Agent (or the Required Lenders, all of the Lenders, as the case may be) may deem advisable from time to time, and any collateral security, guarantee or right of offset at any time held by the Administrative Agent or
any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Administrative Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or insure
any Lien at any time held by it as security for the Secured Obligations or for the guarantee contained in this Section 2 or any property subject thereto. 

2.5 Guarantee Absolute and Unconditional; Guarantor Waivers; Guarantor Consents. Each Guarantor waives any and all notice of the
creation, renewal, extension or accrual of any of the Secured Obligations and notice of or proof of reliance by the Administrative Agent or any other Secured Party upon the guarantee contained in this Section 2 or acceptance of the
guarantee contained in this Section 2; the Secured Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended or waived, in reliance upon the guarantee contained
in this Section 2; and all dealings between any Co-Borrower and any of the Guarantors on the one hand, and the Administrative Agent and the other Secured Parties, on the other hand, likewise shall be conclusively presumed to have been
had or consummated in reliance upon the guarantee contained in this Section 2. Each Guarantor further waives: 
 (a) diligence,
presentment, protest, demand for payment and notice of default or nonpayment to or upon any Co-Borrower, any other Grantor or any of the other Guarantors with respect to the Secured Obligations; 

(b) any right to require any Secured Party to marshal assets in favor of any Co-Borrower, any other Grantor, such Guarantor, any other
Guarantor or any other Person, to proceed against any Co-Borrower, any other Grantor, any other Guarantor or any other Person, to proceed against or exhaust any of the Collateral, to give notice of the terms, time and place of any public or private
sale of personal property security constituting the Collateral or other collateral for the Secured Obligations or to comply with any other provisions of Section 9611 of the UCC (or any equivalent provision of any other applicable law) or to
pursue any other right, remedy, power or privilege of any Secured Party whatsoever; 

  
 4 

 (c) the defense of the statute of limitations in any action hereunder or for the collection or
performance of the Secured Obligations; 
 (d) any defense arising by reason of any lack of corporate or other authority or any other defense
of any Co-Borrower, any other Grantor, such Guarantor or any other Person; 
 (e) any defense based upon the Administrative Agent’s or
any Secured Party’s errors or omissions in the administration of the Secured Obligations; 
 (f) any rights to set-offs and
counterclaims; 
 (g) any defense based upon an election of remedies (including, if available, an election to proceed by nonjudicial
foreclosure) which destroys or impairs the subrogation rights of such Guarantor or the right of such Guarantor to proceed against any Co-Borrower, any other Grantor or any other obligor of the Secured Obligations for reimbursement; and 

(h) without limiting the generality of the foregoing, to the fullest extent permitted by law, any defenses or benefits that may be derived from
or afforded by applicable law that limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms of this Agreement, including any rights and defenses which are or may become available to any Guarantor by reason of
California Civil Code Sections 2787 through 2855, 2899 and 3433. 
 Each Guarantor understands and agrees that the guarantee contained in
this Section 2 shall be construed as a continuing, absolute and unconditional guarantee of payment without regard to (i) the validity or enforceability of the Credit Agreement or any other Loan Document, any of the Secured
Obligations or any other collateral security therefor or guarantee or right of offset with respect thereto at any time or from time to time held by the Administrative Agent or any other Secured Party, (ii) any defense, setoff or counterclaim
(other than a defense of payment or performance) which may at any time be available to or be asserted by any Co-Borrower, any other Grantor or any other Person against the Administrative Agent or any other Secured Party, (iii) any other
circumstance whatsoever (with or without notice to or knowledge of any Co-Borrower, any other Grantor or such Guarantor) which constitutes, or might be construed to constitute, an equitable or legal discharge of any Co-Borrower, any other Grantor or
any other Guarantor for the Secured Obligations, or of such Guarantor under the guarantee contained in this Section 2, in bankruptcy or in any other instance, (iv) any Insolvency Proceeding with respect to any Co-Borrower, any other
Grantor, any Guarantor or any other Person, (v) any merger, acquisition, consolidation or change in structure of any Co- Borrower, any other Grantor, any Guarantor or any other Person, or any sale, lease, transfer or other disposition of any or
all of the assets or Voting Stock of any Co-Borrower, any other Grantor, any Guarantor or any other Person, (vi) any assignment or other transfer, in whole or in part, of any Secured Party’s interests in and rights under this Agreement or
any other Loan Document, including any Secured Party’s right to receive payment of the Secured Obligations, or any assignment or other transfer, in whole or in part, of any Secured Party’s interests in and to any of the Collateral,
(vii) any Secured Party’s vote, claim, distribution, election, acceptance, action or inaction in any Insolvency Proceeding related to any of the Secured Obligations, and (viii) any other guaranty, whether by such Guarantor or any
other Person, of all or any part of the Secured Obligations or any other indebtedness, obligations or liabilities of any Guarantor to any Secured Party. 

When making any demand hereunder or otherwise pursuing its rights and remedies hereunder against any Guarantor, the Administrative Agent or any
other Secured Party may, but shall be under no obligation to make a similar demand on or otherwise pursue such rights and remedies as it may have against any Co-Borrower, any other Grantor, any other Guarantor or any other Person or against any
collateral security or guarantee for the Secured Obligations or any right of offset with respect thereto. 

  
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Any failure by the Administrative Agent or any other Secured Party to make any such demand, to pursue such other rights or remedies or to collect any payments from any Co-Borrower, any other
Grantor, any other Guarantor or any other Person or to realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of any Co-Borrower, any other Grantor, any other Guarantor or any other Person or
any such collateral security, guarantee or right of offset, shall not relieve any Guarantor of any obligation or liability hereunder, and shall not impair or affect the rights and remedies, whether express, implied or available as a matter of law,
of the Administrative Agent or any other Secured Party against any Guarantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings. 

Each Guarantor further unconditionally consents and agrees that, without notice to or further assent from any Guarantor: (a) the principal
amount of the Secured Obligations may be increased or decreased and additional indebtedness or obligations of the Co-Borrowers or any other Persons under the Loan Documents may be incurred, by one or more amendments, modifications, renewals or
extensions of any Loan Document or otherwise; (b) the time, manner, place or terms of any payment under any Loan Document may be extended or changed, including by an increase or decrease in the interest rate on any Secured Obligation or any fee
or other amount payable under such Loan Document by an amendment, modification or renewal of any Loan Document or otherwise; (c) the time for the Co-Borrowers’ (or any other Loan Party’s) performance of or compliance with any term,
covenant or agreement on its part to be performed or observed under any Loan Document may be extended, or such performance or compliance waived, or failure in or departure from such performance or compliance consented to, all in such manner and upon
such terms as the Administrative Agent may deem proper; (d) in addition to the Collateral, the Secured Parties may take and hold other security (legal or equitable) of any kind, at any time, as collateral for the Secured Obligations, and may,
from time to time, in whole or in part, exchange, sell, surrender, release, subordinate, modify, waive, rescind, compromise or extend such security and may permit or consent to any such action or the result of any such action, and may apply such
security and direct the order or manner of sale thereof; (e) the Secured Parties may, in accordance with the terms of the Loan Documents discharge or release, in whole or in part, any other Guarantor or any other Loan Party or other Person
liable for the payment and performance of all or any part of the Secured Obligations, and may permit or consent to any such action or any result of such action, and shall not be obligated to demand or enforce payment upon any of the Collateral, nor
shall any Secured Party be liable to any Guarantor for any failure to collect or enforce payment or performance of the Secured Obligations from any Person or to realize upon the Collateral, and (f) the Secured Parties may request and accept
other guaranties of the Secured Obligations and any other indebtedness, obligations or liabilities of the Co-Borrowers or any other Loan Party to any Secured Party and may, from time to time, in whole or in part, surrender, release, subordinate,
modify, waive, rescind, compromise or extend any such guaranty and may permit or consent to any such action or the result of any such action; in each case (a) through (f), as the Secured Parties may deem advisable, and without impairing,
abridging, releasing or affecting this Agreement. 
 2.6 Reserved. 

2.7 Reinstatement. The guarantee contained in this Section 2 shall continue to be effective, or be reinstated, as the case
may be, if at any time payment, or any part thereof, of any of the Secured Obligations is rescinded or must otherwise be restored or returned by the Administrative Agent or any other Secured Party upon the insolvency, bankruptcy, dissolution,
liquidation or reorganization of any Co-Borrower, any Grantor or any Guarantor, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, any Co-Borrower, any Grantor or any such
Guarantor or any substantial part of its respective property, or otherwise, all as though such payments had not been made. 

  
 6 

 2.8 Payments. Each Guarantor hereby guarantees that payments hereunder will be paid to the
Administrative Agent without setoff or counterclaim in Dollars at the Funding Office. 
 SECTION 3. GRANT OF SECURITY INTEREST 

3.1 Grant of Security Interests. Each Grantor hereby grants to the Administrative Agent, for the ratable benefit of the Secured Parties,
a security interest in all of the following property now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any right, title or interest, and wherever located
(collectively, the “Collateral”), as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Secured Obligations: 

(a) all accounts receivable owing to such Grantor for goods sold or leased by such Grantor or services rendered by such Grantor
(“Accounts Receivable”); and 
 (b) all proceeds of Accounts Receivable, including (to the extent constituting or
evidencing Accounts Receivable or the proceeds of Accounts Receivable), Instruments, Chattel Paper and Supporting Obligations. 
 3.2
Grantors Remain Liable. Anything herein to the contrary notwithstanding, (a) each Grantor shall remain liable under any contracts, agreements and other documents included in the Collateral, to the extent set forth therein, to perform all
of its duties and obligations thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Administrative Agent of any of the rights granted to the Administrative Agent hereunder shall not release any
Grantor from any of its duties or obligations under any such contracts, agreements and other documents included in the Collateral, and (c) neither the Administrative Agent nor any other Secured Party shall have any obligation or liability under
any such contracts, agreements and other documents included in the Collateral by reason of this Agreement, nor shall the Administrative Agent or any other Secured Party be obligated to perform any of the obligations or duties of any Grantor
thereunder or to take any action to collect or enforce any such contract, agreement or other document included in the Collateral hereunder. 

3.3 Perfection and Priority. 

(a) Financing Statements. Pursuant to any applicable law, each Grantor authorizes the Administrative Agent (and its counsel and its
agents) to file or record at any time and from time to time any financing statements and other filing or recording documents or instruments with respect to the Collateral and each Grantor shall execute and deliver to the Administrative Agent and
each Grantor hereby authorizes the Administrative Agent (and its counsel and its agents) to file (with or without the signature of such Grantor) at any time and from time to time, all amendments to financing statements, continuation financing
statements, termination statements, assignments, affidavits, reports notices and all other documents and instruments, in such form and in such offices as the Administrative Agent or the Required Lenders determine appropriate to perfect and continue
perfected, maintain the priority of or provide notice of the Administrative Agent’s security interest in the Collateral under and to accomplish the purposes of this Agreement. Each Grantor hereby ratifies and authorizes the filing by the
Administrative Agent (and its counsel and its agents) of any financing statement with respect to the Collateral made prior to the date hereof. 

(b) Filing of Financing Statements. Each Grantor shall deliver to the Administrative Agent, from time to time, such completed UCC-1 financing statements for filing or recording in the appropriate filing offices as may be reasonably requested by the Administrative Agent. 

  
 7 

 (c) Control. Each Grantor acknowledges that the Administrative Agent has
“control” (within the meaning of Section 9104 of the UCC) over the Designated Deposit Account. Each Grantor covenants and agrees that no Collateral (including any Proceeds of Collateral) will be deposited in any Deposit Account
or Securities Account other than the Designated Deposit Account, unless, prior to such deposit, such Grantor has obtained the consent of the Administrative Agent and has caused the Administrative Agent to obtain “control” (within the
meaning of Section 9104 of the UCC) over such Deposit Account or Securities Account to the satisfaction of the Administrative Agent, including pursuant to the delivery of Control Agreements in form and substance reasonably satisfactory to
the Administrative Agent as it may reasonably request. Notwithstanding the foregoing, this Section 3.3(c) shall not restrict the Borrower’s ability to transfer funds out of the Designated Deposit Account to the extent such transfers
are otherwise permitted by the terms of the Credit Agreement (including Section 6.3 thereof). 
 SECTION 4. REPRESENTATIONS AND WARRANTIES 

In addition to the representations and warranties of the Co-Borrowers set forth in the Credit Agreement and relating to the other Loan Parties,
which representations and warranties are incorporated herein by this reference, and to induce the Administrative Agent and the Lenders to enter into the Credit Agreement and to induce the Lenders to make their respective extensions of credit to the
applicable Co-Borrowers thereunder, each Grantor hereby represents and warrants to the Administrative Agent and each other Secured Party that: 

4.1 Title; No Other Liens. Such Grantor owns each item of the Collateral in which it grants a Lien hereunder free and clear of any and
all Liens and other claims of others (except for the Liens permitted to exist on the Collateral pursuant to Section 7.3 of the Credit Agreement, if any). No financing statement or other public notice with respect to all or any part of such
Collateral is on file or of record or will be filed in any public office, except such as have been filed as permitted by the Credit Agreement. 

4.2 Perfected Liens. The security interests granted to the Administrative Agent pursuant to this Agreement (a) upon completion of
the filings and other actions specified on Schedule 3 (which, in the case of any filings and other documents referred to on said Schedule but subject to Section 5.3 of the Credit Agreement, have been delivered to the Administrative
Agent in completed and duly (if applicable) executed form) will constitute valid perfected security interests in all of the Collateral in favor of the Administrative Agent, for the ratable benefit of the Secured Parties, as collateral security for
the Secured Obligations, enforceable in accordance with the terms hereof against any creditors of any Grantor and any Persons purporting to purchase any Collateral from any Grantor, and (b) are prior to all other Liens on the Collateral in
existence on the date hereof, except for Liens permitted by the Credit Agreement which have priority over the Liens of the Administrative Agent on the Collateral (for the ratable benefit of the Secured Parties) by operation of law. 

4.3 Jurisdiction of Organization; Chief Executive Office and Locations of Books. On the date hereof, such Grantor’s jurisdiction
of organization, identification number from the jurisdiction of organization (if any), and the location of such Grantor’s chief executive office or sole place of business, as the case may be, are specified on Schedule 4. All locations
where Books pertaining to the Collateral are kept, including all equipment necessary for accessing such Books and the names and addresses of all service bureaus, computer or data processing companies and other Persons keeping any Books or collecting
Accounts Receivable for such Grantor, are set forth in Schedule 4. 
 4.4 Deposit and Securities Accounts.
(i) Schedule 5 sets forth under the heading “Deposit and Securities Accounts” each Deposit Account and each Securities Account in which the Borrower or any of its consolidated Subsidiaries has an interest, (ii) the
applicable Group Members that hold such Deposit Accounts and Securities Accounts are the sole account holders of such Deposit Accounts and Securities Accounts and (iii) no such Group Member has consented to, and no such Group Member is

  
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otherwise aware of, any Person (other than the Administrative Agent) having either sole dominion and control (within the meaning of common law) or “control” (within the meaning of
Section 9104 of the UCC) over, or any other interest in, any such Deposit Account or Securities Account or any money or other property deposited therein. 

4.5 Accounts Receivable. No amount payable to such Grantor under or in connection with any Account Receivable of such Grantor in an
amount greater than $350,000 is evidenced by any Instrument (other than checks, drafts or other Instruments that will be promptly deposited in the Designated Deposit Account) or Chattel Paper which has not been delivered to the Administrative Agent.
None of the account debtors or other obligors in respect of any such Account Receivable in excess of $350,000 in the aggregate is the government of the United States or any agency or instrumentality thereof. 

4.6 Instruments. (i) Such Grantor has not previously assigned any interest in any Instruments evidencing any Collateral of such
Grantor, and (ii) no Person other than such Grantor owns an interest in such Instruments (whether as joint holders, participants or otherwise). 

SECTION 5. COVENANTS 
 In addition to the
covenants of the Co-Borrowers set forth in the Credit Agreement, which by their terms the Co-Borrowers are required to cause any Grantor to observe (including any such covenants set forth in Section 2.20 of the Credit Agreement) and which are
incorporated herein by this reference, each Grantor hereby covenants and agrees with the Administrative Agent and the other Secured Parties that, from and after the date of this Agreement until the Discharge of Obligations: 

5.1 Delivery of Instruments and Chattel Paper. If any amount payable under or in connection with any of the Collateral shall be or
become evidenced by any Instrument (other than checks, drafts or other Instruments that will be promptly deposited in the Designated Deposit Account), or Chattel Paper evidencing an amount in excess of $350,000, such Instrument or Chattel Paper
shall be promptly delivered to the Administrative Agent, duly indorsed in a manner satisfactory to the Administrative Agent, to be held as Collateral pursuant to this Agreement. 

5.2 Maintenance of Insurance. 

(a) Such Grantor shall (i) keep all material property useful and necessary in its respective business in good working order and condition,
ordinary wear and tear excepted and (ii) maintain with financially sound and reputable insurance companies insurance on all of the property of such Grantor in at least such amounts and against at least such risks (but including in any event
public liability, product liability and business interruption) as are usually insured against in the same general area by companies engaged in the same or a similar business. 

(b) All such insurance shall (i) provide that no cancellation, material reduction in amount or material change in coverage thereof shall
be effective until after receipt by the Administrative Agent of prior written notice thereof, (ii) name the Administrative Agent as an additional insured party, and (iii) be reasonably satisfactory in all other material respects to the
Administrative Agent. 
 (c) Each Grantor shall deliver to the Administrative Agent a report of a reputable insurance broker with respect to
such insurance substantially concurrently with each delivery of the Borrower’s audited annual financial statements pursuant to Section 6.1(a) of the Credit Agreement and such supplemental reports with respect thereto as the Administrative
Agent may from time to time reasonably request. 

  
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 If any Grantor fails to obtain insurance as required under this Section 5.2, to pay
any amount or furnish any required proof of payment to third Persons, or if the Administrative Agent receives any notice of termination or cancellation of any such insurance policies or reduction of coverages or amounts thereunder, the
Administrative Agent shall be entitled to obtain or renew, as applicable, any such policies, cause the coverages and amounts thereof to be maintained at levels required pursuant to Section 6.6 of the Credit Agreement or otherwise to obtain
similar insurance in place of such policies, in each case at the expense of the Grantors. 
 5.3 Maintenance of Perfected Security
Interest; Further Documentation. 
 (a) Such Grantor shall maintain the security interests of the Administrative Agent (for the ratable
benefit of the Secured Parties) granted by such Grantor pursuant to the terms of this Agreement as perfected security interests having at least the priority described in Section 4.2 and shall defend such security interests against the
claims and demands of all Persons whomsoever, subject to the rights of such Grantor under the Loan Documents to dispose of the Collateral. 

(b) Such Grantor will furnish to the Administrative Agent from time to time statements and schedules further identifying and describing the
assets and property of such Grantor and such other reports in connection therewith as the Administrative Agent may reasonably request, all in reasonable detail. 

(c) At any time and from time to time, upon the written request of the Administrative Agent, and at the sole expense of such Grantor, such
Grantor will promptly and duly execute and deliver, and have recorded, such further instruments and documents and take such further actions as the Administrative Agent may reasonably request for the purpose of obtaining or preserving the full
benefits of this Agreement and of the rights and powers herein granted, including (i) filing any financing or continuation statements under the Uniform Commercial Code (or other similar laws) in effect in any jurisdiction with respect to the
security interests created hereby, and (ii) taking the actions described under Section 3.3(c) to establish the Administrative Agent’s “control” (within the meaning of Section 9104 of the UCC) over any Deposit
Account or Securities Account into which any Collateral is deposited, as provided therein. 
 5.4 Changes in Locations, Name, Etc.
Such Grantor will not, except upon 15 days’ (or such shorter period as may be agreed to by the Administrative Agent) prior written notice to the Administrative Agent and delivery to the Administrative Agent of (a) all additional executed
financing statements and other documents reasonably requested by the Administrative Agent to maintain the validity, perfection and priority of the security interests provided for herein, and (b) if applicable, a written supplement to
Schedule 4 showing the relevant new jurisdiction of organization, location of chief executive office or sole place of business, as appropriate: 

(i) change its jurisdiction of organization, identification number from the jurisdiction of organization (if any) or the location of its chief
executive office or sole place of business, as appropriate, from that referred to in Section 4.3; 
 (ii) change its name; or

 (iii) subject to Section 5.14, locate any Collateral in any state or other jurisdiction other than those in which such
Grantor operates as of the Closing Date (or, with respect to any Grantor who accedes to this Agreement as a Grantor after the Closing Date, other than those jurisdictions in which such Grantor operates as of the date on which such Grantor so accedes
to this Agreement as a Grantor). 

  
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 5.5 Notices. Such Grantor will advise the Administrative Agent promptly, in reasonable
detail, of: 
 (a) any Lien (other than Liens permitted under Section 7.3 of the Credit Agreement) placed (voluntarily or involuntarily)
on any of the Collateral, if any; and 
 (b) the occurrence of any casualty event which has reduced the value of the Collateral in an amount
equal to at least the Threshold Amount or which has had a material adverse effect on the security interests created hereby. 
 5.6 Deposit
and Securities Accounts. 
 (a) Such Grantor shall comply with the requirement of Section 3.3(c) hereof prior to depositing any
Collateral into any Deposit Account or Securities Account, other than the Designated Deposit Account. 
 (b) The Administrative Agent agrees
that it will only communicate “entitlement orders” with respect to such Deposit Accounts and Securities Accounts subject to a third-party Control Agreement in favor of the Administrative Agent pursuant to Section 5.6(a), during
the existence of a Liquidity Event or an Event of Default. 
 (c) Such Grantor shall give the Administrative Agent prompt notice of the
establishment by such Grantor of any new Deposit Account or Securities Account. 
 5.7 Accounts Receivables. Other than in the
ordinary course of business and other than as otherwise expressly permitted by Section 6.3(b) of the Credit Agreement, such Grantor will not (a) grant any extension of the time of payment of any Account Receivable of such Grantor,
(b) compromise or settle any such Account Receivable for less than the full amount thereof, (c) release, wholly or partially, any Person liable for the payment of any such Account Receivable, (d) allow any credit or discount
whatsoever on any such Account Receivable, or (e) amend, supplement or modify any such Account Receivable in any manner that could adversely affect the value thereof. 

5.8 Defense of Collateral. Such Grantor will appear in and defend any action, suit or proceeding which may affect to a material extent
its title to, or right or interest in, or the Administrative Agent’s right or interest in, any material portion of the Collateral of such Grantor. 

5.9 Preservation of Collateral. Such Grantor will do and perform all reasonable acts that may be necessary and appropriate to maintain,
preserve and protect the Collateral of such Grantor. 
 5.10 Compliance with Laws, Etc. Such Grantor will comply in all material
respects with all laws, regulations and ordinances, and all policies of insurance, relating in a material way to the possession, operation, maintenance and control of the Collateral of such Grantor. 

5.11 Location of Books and Chief Executive Office. Such Grantor will: (a) subject to clause (b) of this
Section 5.11, keep all Books pertaining to the Collateral of such Grantor at the locations set forth in Schedule 4; and (b) give at least 15 days’ prior written notice to the Administrative Agent of any changes
in any location where Books pertaining to the Collateral of such Grantor are kept, including any change of name or address of any service bureau, computer or data processing company or other Person preparing or maintaining any such Books or
collecting Accounts Receivable for such Grantor. 

  
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 5.12 Maintenance of Records. Such Grantor will keep separate, accurate and complete Books
with respect to Collateral held by such Grantor, disclosing the Administrative Agent’s security interest hereunder. 
 5.13
Disposition of Collateral. Such Grantor will not surrender or lose possession of (other than to the Administrative Agent), sell, lease, rent, or otherwise dispose of or transfer any of the Collateral held by such Grantor or any right or
interest therein, except to the extent permitted by the Loan Documents. 
 5.14 Liens. Such Grantor will not create, incur, assume or
suffer to exist any Lien upon any of its property, whether now owned or hereafter acquired, except Liens permitted under Section 7.3 of the Credit Agreement. 

5.15 Expenses. Such Grantor will pay all expenses of protecting, storing, warehousing, insuring, handling and shipping the Collateral
held by such Grantor, to the extent the failure to pay any such expenses could reasonably be expected to materially and adversely affect the value of the Collateral. 

5.16 Chattel Paper. Such Grantor will not create any Chattel Paper evidencing any Collateral without placing a legend on such Chattel
Paper acceptable to the Administrative Agent indicating that the Administrative Agent has a security interest in such Chattel Paper. Such Grantor will give the Administrative Agent immediate notice if such Grantor at any time holds or acquires an
interest in any Chattel Paper evidencing any Collateral in an amount greater than $350,000, including any Electronic Chattel Paper, and shall comply, in all respects, with the provisions of Section 5.1 hereof. 

SECTION 6. REMEDIAL PROVISIONS 
 Each Grantor
covenants and agrees with the Administrative Agent and the other Secured Parties that, from and after the date of this Agreement until the Discharge of Obligations: 

6.1 Certain Matters Relating to Accounts Receivable. 

(a) The Administrative Agent hereby authorizes each Grantor to collect such Grantor’s Accounts Receivable solely in the Designated Deposit
Account pursuant to Section 6.3 of the Credit Agreement, and the Administrative Agent may curtail or terminate said authority at any time after the occurrence and during the continuance of an Event of Default. If required by the Administrative
Agent at any time after the occurrence and during the continuance of an Event of Default, any payments of Accounts Receivable (i) shall be forthwith (and, in any event, within two Business Days) deposited by such Grantor in the form received,
duly indorsed by such Grantor to the Administrative Agent if required, in a deposit account designated by the Administrative Agent and in the name of the Administrative Agent, subject to withdrawal by the Administrative Agent for the account of the
Secured Parties only as provided in Section 6.5, and (ii) until so turned over, shall be held in the Designated Deposit Account for the Administrative Agent and the other Secured Parties or (if not yet deposited in the Designated
Deposit Account), shall be held by such Grantor in trust for the Administrative Agent and the other Secured Parties, segregated from other funds of such Grantor. At the Administrative Agent’s request after the occurrence and during the
continuance of an Event of Default, each such deposit of Proceeds of Accounts Receivable shall be accompanied by a report identifying in reasonable detail the nature and source of the payments included in the deposit. 

(b) At the Administrative Agent’s request, during the existence of an Event of Default, each Grantor shall deliver to the Administrative
Agent all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the Accounts Receivable, including, without limitation, all original orders, invoices and shipping receipts. 

  
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 6.2 Communications with Obligors; Grantors Remain Liable. 

(a) The Administrative Agent in its own name or in the name of others may at any time after the occurrence and during the continuance of an
Event of Default communicate with obligors under the Accounts Receivable to verify with them to the Administrative Agent’s satisfaction the existence, amount and terms of any Accounts Receivable. 

(b) Upon the request of the Administrative Agent, at any time after the occurrence and during the continuance of an Event of Default, each
Grantor shall notify obligors on the Accounts Receivable that the Accounts Receivable have been assigned to the Administrative Agent for the ratable benefit of the Secured Parties and that payments in respect thereof shall be made directly to the
Administrative Agent. 
 (c) Anything herein to the contrary notwithstanding, each Grantor shall remain liable under each of the Accounts
Receivable to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise thereto. Neither the Administrative Agent nor any other Secured Party
shall have any obligation or liability under any Account Receivable (or any agreement giving rise thereto) by reason of or arising out of this Agreement or the receipt by the Administrative Agent or any Lender of any payment relating thereto, nor
shall the Administrative Agent nor any other Secured Party be obligated in any manner to perform any of the obligations of any Grantor under or pursuant to any Account Receivable (or any agreement giving rise thereto), to make any payment, to make
any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party thereunder, to present or file any claim, to take any action to enforce any performance or to collect the payment
of any amounts which may have been assigned to it or to which it may be entitled at any time or times. 
 6.3 Application of Deposit
Account and Securities Account Funds. 
 (a) In addition to the rights granted to the Administrative Agent under the Credit Agreement, if
an Event of Default shall have occurred and be continuing, the Administrative Agent shall have the right to apply the balance from the Non-Formula Based Revolving Loan Proceeds Account, the Designated Deposit Account or any other Deposit Account or
Securities Account pledged to the Administrative Agent pursuant to Section 5.6 to pay the balance of the Non-Formula Based Revolving Loan Proceeds Account, the Designated Deposit Account or such other Deposit Account or Securities
Account pledged to the Administrative Agent pursuant to Section 5.6 to or for the benefit of the Administrative Agent, to be applied to the Secured Obligations in accordance with the terms of the Loan Documents. 

(b) If a Liquidity Event shall have occurred and be continuing, the Administrative Agent shall have the right to apply the balance from the
Non-Formula Based Revolving Loan Proceeds Account and the Designated Deposit Account to the Secured Obligations in accordance with the terms of the Loan Documents. 

6.4 Proceeds to be Turned Over To Administrative Agent. In addition to the rights of the Administrative Agent and the other Secured
Parties specified in Section 6.1 with respect to payments of Accounts Receivable, if an Event of Default shall occur and be continuing, all Proceeds received by any Grantor consisting of cash, checks, Cash Equivalents and other near-cash
items shall be held by such Grantor in trust for the Administrative Agent and the other Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon receipt by such Grantor, be turned over to the Administrative Agent in
the exact form received by such Grantor (duly indorsed by such Grantor to the Administrative Agent, if required). All Proceeds received by the Administrative Agent hereunder shall be held by the 

  
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Administrative Agent in the Designated Deposit Account or another Collateral Account over which it maintains “control” (within the meaning of Section 9104 of the UCC). All Proceeds
while held by the Administrative Agent in the Designated Deposit Account or other Collateral Account (or by such Grantor in trust for the Administrative Agent and the other Secured Parties) shall continue to be held as collateral security for all
the Secured Obligations and shall not constitute payment thereof until applied as provided in Section 6.5. 
 6.5 Application
of Proceeds. If an Event of Default shall have occurred and be continuing, at any time at the Administrative Agent’s election, the Administrative Agent may apply all or any part of Proceeds constituting Collateral, whether or not held in
the Designated Deposit Account or any other Collateral Account, in payment of the Secured Obligations in accordance with Section 8.3 of the Credit Agreement. 

6.6 Code and Other Remedies. If an Event of Default shall occur and be continuing, the Administrative Agent, on behalf of the Secured
Parties, may exercise, in addition to all other rights and remedies granted to them in this Agreement and in any other instrument or agreement securing, evidencing or relating to the Secured Obligations, all rights and remedies of a secured party
under the UCC or any other applicable law. Without limiting the generality of the foregoing, the Administrative Agent, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice
required by law) to or upon any Grantor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral,
or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or
private sale or sales, at any exchange, broker’s board or office of the Administrative Agent or any other Secured Party or elsewhere upon such terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on
credit or for future delivery without assumption of any credit risk. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or
sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the Administrative Agent’s
request made during the existence of an Event of Default, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or
elsewhere. The Administrative Agent shall apply the net proceeds of any action taken by it pursuant to this Section 6.6, in accordance with the provisions of Section 6.5, only after deducting all reasonable costs and expenses
of every kind incurred in connection therewith or incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of the Administrative Agent and the other Secured Parties hereunder, including,
without limitation, reasonable attorneys’ fees and disbursements, to the payment in whole or in part of the Secured Obligations, in such order as is contemplated by Section 8.3 of the Credit Agreement, and only after such application and
after the payment by the Administrative Agent of any other amount required by any provision of law, including Section 9615(a)(3) of the UCC, but only to the extent of the surplus, if any, owing to any Grantor. To the extent permitted by
applicable law, each Grantor waives all claims, damages and demands it may acquire against the Administrative Agent or any other Secured Party arising out of the exercise by any of them of any rights hereunder, except to the extent caused by the
gross negligence or willful misconduct of the Administrative Agent or such Secured Party or their respective agents. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable
and proper if given at least 10 days before such sale or other disposition. 

  
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 6.7 Intellectual Property License. Solely for the purpose of enabling the Administrative
Agent to exercise rights and remedies under this Section 6 and at such time as the Administrative Agent shall be lawfully entitled to exercise such rights and remedies, each Grantor hereby grants to the Administrative Agent, for the
benefit of the Secured Parties, an irrevocable, non-exclusive, worldwide license (exercisable without payment of royalty or other compensation to such Grantor), subject, in the case of Trademarks, to sufficient rights to quality control and
inspection in favor of such Grantor to avoid the risk of invalidation of said Trademarks, to use, operate under, license, or sublicense any Intellectual Property now owned or hereafter acquired by the Grantors (subject, in the case of any Trademark
License, Copyright License or Patent License, to the terms of any applicable license agreement). 
 6.8 Deficiency. Each Grantor
shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay its Secured Obligations and the fees and disbursements of any attorneys employed by the Administrative Agent or any
other Secured Party to collect such deficiency, in each case until the Discharge of Obligations. 
 SECTION 7. THE ADMINISTRATIVE AGENT 

Each Grantor covenants and agrees with the Administrative Agent and the other Secured Parties that: 

7.1 Administrative Agent’s Appointment as Attorney-in-Fact, etc. 

(a) Each Grantor hereby irrevocably constitutes and appoints the Administrative Agent and any officer or agent thereof, with full power of
substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such Grantor and in the name of such Grantor or in its own name, for the purpose of carrying out the terms of this Agreement,
to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this Agreement, and, without limiting the generality of the foregoing, each Grantor hereby
gives the Administrative Agent the power and right, on behalf of such Grantor, without notice to or assent by such Grantor, to do any or all of the following: 

(i) in the name of such Grantor or its own name, or otherwise, take possession of and indorse and collect any checks, drafts, notes,
acceptances or other instruments for the payment of moneys due under any Accounts Receivable or with respect to any other Collateral and file any claim or take any other action or proceeding in any court of law or equity or otherwise deemed
appropriate by the Administrative Agent for the purpose of collecting any and all such moneys due under any Accounts Receivable or with respect to any other Collateral whenever payable; 

(ii) pay or discharge taxes and Liens levied or placed on or threatened against the Collateral, effect any insurance called for by the terms
of this Agreement and pay all or any part of the premiums therefor and the costs thereof; 
 (iii) execute, in connection with any sale
provided for in Section 6.6 or 6.7, any endorsements, assignments or other instruments of conveyance or transfer with respect to the Collateral; and 

(iv)(A) direct any party liable for any payment under any of the Collateral to make payment of any and all moneys due or to become due
thereunder directly to the Administrative Agent or as the Administrative Agent shall direct; (B) ask or demand for, collect, and receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time
in respect of or arising out of any Collateral; (C) sign and indorse any invoices, freight or express bills, bills of lading, storage or warehouse receipts, drafts against debtors, assignments, verifications, notices and other

  
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documents in connection with any of the Collateral; (D) commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect the
Collateral or any portion thereof and to enforce any other right in respect of any Collateral; (E) defend any suit, action or proceeding brought against such Grantor with respect to any Collateral; (F) settle, compromise or adjust any such
suit, action or proceeding and, in connection therewith, give such discharges or releases as the Administrative Agent may deem appropriate; (G) reserved; and (H) generally, sell, transfer, pledge and make any agreement with respect to or
otherwise deal with any of the Collateral as fully and completely as though the Administrative Agent were the absolute owner thereof for all purposes, and do, at the Administrative Agent’s option and such Grantor’s expense, at any time, or
from time to time, all acts and things which the Administrative Agent deems necessary to protect, preserve or realize upon the Collateral and the Administrative Agent’s and the other Secured Parties’ security interests therein and to
effect the intent of this Agreement, all as fully and effectively as such Grantor might do. 
 Anything in this Section 7.1(a)
to the contrary notwithstanding, the Administrative Agent agrees that it will not exercise any rights under the power of attorney provided for in this Section 7.1(a) unless an Event of Default shall have occurred and be continuing. 

(b) If any Grantor fails to perform or comply with any of its agreements contained herein, the Administrative Agent, at its option, but without
any obligation so to do, may perform or comply, or otherwise cause performance or compliance, with such agreement. 
 (c) The expenses of the
Administrative Agent incurred in connection with actions undertaken as provided in this Section 7.1, together with interest thereon at a rate per annum equal to the highest rate per annum at which interest would then be payable on any
category of past due ABR Loans under the Credit Agreement, from the date of payment by the Administrative Agent to the date reimbursed by the relevant Grantor, shall be payable by such Grantor to the Administrative Agent on demand. 

(d) Each Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof. All powers, authorizations and
agencies contained in this Agreement are coupled with an interest and are irrevocable until this Agreement is terminated and the security interests created hereby are released. 

7.2 Duty of Administrative Agent. The Administrative Agent’s sole duty with respect to the custody, safekeeping and physical
preservation of the Collateral in its possession, under Section 9207 of the UCC or otherwise, shall be to deal with it in the same manner as the Administrative Agent deals with similar property for its own account. Neither the Administrative
Agent, any other Secured Party nor any of their respective officers, directors, employees or agents shall be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation to
sell or otherwise dispose of any Collateral upon the request of any Grantor or any other Person or to take any other action whatsoever with regard to the Collateral or any part thereof. The powers conferred on the Administrative Agent and the other
Secured Parties hereunder are solely to protect the Administrative Agent’s and the other Secured Parties’ interests in the Collateral and shall not impose any duty upon the Administrative Agent or any other Secured Party to exercise any
such powers. The Administrative Agent and the other Secured Parties shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees or
agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct. 

7.3 Authority of Administrative Agent. Each Grantor acknowledges that the rights and responsibilities of the Administrative Agent under
this Agreement with respect to any action taken by the Administrative Agent or the exercise or non-exercise by the Administrative Agent of any option, voting 

  
 16 

 
right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement shall, as between the Administrative Agent and the other Secured Parties, be
governed by the Credit Agreement and by such other agreements with respect thereto as may exist from time to time among them, but, as between the Administrative Agent and the Grantors, the Administrative Agent shall be conclusively presumed to be
acting as agent for the Secured Parties with full and valid authority so to act or refrain from acting, and no Grantor shall be under any obligation, or entitlement, to make any inquiry respecting such authority. 

SECTION 8. MISCELLANEOUS 
 8.1 Amendments in
Writing. None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise modified except in accordance with Section 10.1 of the Credit Agreement. 

8.2 Notices. All notices, requests and demands to or upon the Administrative Agent or any Grantor hereunder shall be effected in the
manner provided for in Section 10.2 of the Credit Agreement; provided that any such notice, request or demand to or upon any Grantor (other than any Co-Borrower) shall be addressed to such Grantor at its notice address set forth on
Schedule 1 (as the same may be updated from time to time in accordance with the terms hereof). 
 8.3 No Waiver by Course of
Conduct; Cumulative Remedies. Neither the Administrative Agent nor any other Secured Party shall by any act (except by a written instrument pursuant to Section 8.1), delay, indulgence, omission or otherwise be deemed to have waived
any right or remedy hereunder or to have acquiesced in any Default or Event of Default, as applicable. No failure to exercise, nor any delay in exercising, on the part of the Administrative Agent or any other Secured Party, any right, power or
privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by
the Administrative Agent or any other Secured Party of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which the Administrative Agent or such other Secured Party would otherwise have on any
future occasion. The rights and remedies herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any other rights or remedies provided by law. 

8.4 Enforcement Expenses; Indemnification. 

(a) Costs and Expenses. The Grantors shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and
its Affiliates (including the reasonable fees, charges and disbursements of counsel for the Administrative Agent), and shall pay all fees and time charges and disbursements for attorneys who may be employees of the Administrative Agent, in
connection with the preparation, negotiation, execution, delivery and administration of this Agreement and the other Security Documents, or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions
contemplated by the Credit Agreement shall be consummated), and (ii) all out-of-pocket expenses incurred by the Administrative Agent or any Lender (including the fees, charges and disbursements of any counsel for the Administrative Agent or any
Lender), and shall pay all fees and time charges for attorneys who may be employees of the Administrative Agent or any Lender, in connection with the enforcement or protection of its rights in connection with this Agreement and the other Security
Documents, including its rights under this Section. 
 (b) Indemnification by the Grantors. The Grantors shall indemnify each
Indemnitee against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the fees, charges and disbursements of any counsel for any Indemnitee), and shall indemnify and hold
harmless each Indemnitee from all fees and time charges and disbursements for 

  
 17 

 
attorneys who may be employees of any Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee by such Grantor arising out of, in connection with, or as a result of (i) the
execution or delivery of this Agreement, any other Security Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of
the transactions contemplated hereby or thereby, or (ii) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third
party or by such Grantor or any other Loan Party, and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim
brought by such Grantor or any other Loan Party against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if such Grantor or such Loan Party has obtained a final and nonappealable
judgment in its favor on such claim as determined by a court of competent jurisdiction. 
 (c) Waiver of Consequential Damages, Etc.
To the fullest extent permitted by applicable law, no Grantor shall assert, and each Grantor hereby waives, any claim such Grantor may at any time have against any Indemnitee, on any theory of liability, for special, indirect, consequential or
punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or the transactions contemplated hereby or
thereby. No Indemnitee referred to in paragraph (b) above shall be liable for any damages arising from the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other
information transmission systems in connection with this Agreement, any other Loan Document or the transactions contemplated hereby or thereby. 

(d) Taxes. The Grantors agree to pay, and to save the Administrative Agent and each other Secured Party harmless from, any and all
liabilities with respect to, or resulting from any delay in paying, any and all stamp, excise, sales or other taxes (including any withholding taxes) which may be payable or determined to be payable with respect to any of the Collateral or in
connection with any of the transactions contemplated by this Agreement. 
 (e) Collecting under Guarantees. To the extent not included
in the foregoing and for the avoidance of doubt, each Guarantor agrees to pay or reimburse the Administrative Agent and each other Secured Party for all their respective documented out-of-pocket costs and expenses incurred in collecting against such
Guarantor under the guaranty contained in Section 2 of this Agreement or otherwise enforcing or preserving any rights under this Agreement and the other Loan Documents to which such Guarantor is a party, including the documented
out-of-pocket fees and disbursements of counsel (including the allocated fees and expenses of in-house counsel) to the Administrative Agent and of counsel to each other Secured Party. 

(f) Payments. All amounts due under this Section 8.4 shall be payable promptly after demand therefor. 

(g) Survival. The agreements in this Section 8.4 shall survive the Discharge of Obligations. 

8.5 Successors and Assigns. This Agreement shall be binding upon the successors and assigns of each party hereto and shall inure to the
benefit of each party hereto (including the Administrative Agent on behalf of the Secured Parties) and their respective successors and assigns; provided that no Grantor may assign, transfer or delegate any of its rights or obligations under
this Agreement without the prior written consent of the Administrative Agent. 

  
 18 

 8.6 Set Off. Each Grantor hereby irrevocably authorizes the Administrative Agent and each
other Secured Party and any Affiliate thereof at any time and from time to time after the occurrence and during the continuance of an Event of Default, without notice to such Grantor or any other Grantor, any such notice being expressly waived by
each Grantor, to setoff and appropriate and apply any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or
indirect, absolute or contingent, matured or unmatured, at any time held or owing by the Administrative Agent or such Secured Party or such Affiliate to or for the credit or the account of such Grantor, or any part thereof in such amounts as the
Administrative Agent or such Secured Party may elect, against and on account of the Secured Obligations and liabilities of such Grantor to the Administrative Agent or such Secured Party hereunder and under the other Loan Documents and claims of
every nature and description of the Administrative Agent or such Secured Party against such Grantor, in any currency, whether arising hereunder, under the Credit Agreement, any other Loan Document or otherwise, as the Administrative Agent or such
Secured Party may elect, whether or not the Administrative Agent or any other Secured Party has made any demand for payment and although such obligations, liabilities and claims may be contingent or unmatured. The rights of the Administrative Agent
and each other Secured Party under this Section 8.6 are in addition to other rights and remedies (including, without limitation, other rights of set-off (including pursuant to Sections 2.4 and 10.7 of the Credit Agreement)) which the
Administrative Agent or such other Secured Party may have. 
 8.7 Counterparts. This Agreement may be executed by one or more of the
parties to this Agreement on any number of separate counterparts (including by facsimile and/or electronic mail), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 

8.8 Severability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. 
 8.9 Section Headings. The Section headings used in this Agreement are for
convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

8.10 Integration. This Agreement and the other Loan Documents represent the entire agreement of the Grantors, the Administrative Agent
and the other Secured Parties with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties by the Administrative Agent or any other Secured Party relative to the subject matter hereof
and thereof not expressly set forth or referred to herein or in the other Loan Documents. 
 8.11 GOVERNING LAW; Submission to
Jurisdiction; Jury Trial Waiver. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF CALIFORNIA (WITHOUT GIVING EFFECT TO THE CONFLICTS OF LAWS PRINCIPLES THEREOF). THE PROVISIONS OF
SECTION 10.14 OF THE CREDIT AGREEMENT REGARDING SUBMISSION TO JURISDICTION AND JURY TRIAL WAIVER SHALL BE APPLICABLE TO THIS AGREEMENT AND ARE HEREBY INCORPORATED HEREIN BY REFERENCE, MUTATIS MUTANDIS, AS IF SUCH PROVISIONS WERE
FULLY SET FORTH HEREIN.  

  
 19 

 8.12 Acknowledgements. Each Grantor hereby acknowledges that: 

(a) it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents to which it is a
party; 
 (b) neither the Administrative Agent nor any other Secured Party has any fiduciary relationship with or duty to any Grantor arising
out of or in connection with this Agreement or any of the other Loan Documents, and the relationship between the Grantors, on the one hand, and the Administrative Agent and the other Secured Parties, on the other hand, in connection herewith or
therewith is solely that of debtor and creditor; and 
 (c) no joint venture is created hereby or by the other Loan Documents or otherwise
exists by virtue of the transactions contemplated hereby among any of the Secured Parties or among the Grantors and any of the Secured Parties. 

8.13 Additional Grantors. Each Material Domestic Subsidiary of a Grantor that is required to become a party to this Agreement pursuant
to Section 6.12 of the Credit Agreement shall become a Grantor for all purposes of this Agreement upon execution and delivery by such Subsidiary of an Assumption Agreement in substantially the form of Annex 1 hereto, and each Grantor
shall cause such Subsidiary to so execute and deliver such Assumption Agreement in accordance with the provisions of this Agreement and the other Loan Documents. 

8.14 Releases. 
 (a) Upon
the Discharge of Obligations, but subject to Section 10.16(b) of the Credit Agreement, the Collateral shall be released from the Liens in favor of the Administrative Agent (for the ratable benefit of the Secured Parties) created hereby, this
Agreement shall terminate with respect to the Administrative Agent and the other Secured Parties, and all obligations (other than those expressly stated to survive such termination) of each Grantor to the Administrative Agent or any other Secured
Party hereunder shall terminate, all without delivery of any instrument or performance of any act by any party. At the sole expense of any Grantor following any such termination, the Administrative Agent shall deliver such documents as such Grantor
shall reasonably request to evidence such termination. 
 (b) If any of the Collateral shall be sold, transferred or otherwise disposed of by
any Grantor in a transaction permitted by Section 7 of the Credit Agreement, then the Administrative Agent, at the request and sole expense of such Grantor, shall promptly execute and deliver to such Grantor all releases or other documents
reasonably necessary or desirable for the release of the Liens created hereby on such Collateral, as applicable. At the request and sole expense of the Co-Borrowers, a Grantor shall be released from its obligations hereunder in the event that all
the Capital Stock of such Grantor shall be sold, transferred or otherwise disposed of to a Person other than another Grantor in a transaction permitted by Section 7 of the Credit Agreement; provided that the Borrower shall have delivered
to the Administrative Agent, at least 30 days, or such shorter period as the Administrative Agent may agree, prior to the date of the proposed release, a written request for release identifying the relevant Grantor and the terms of the sale or other
disposition in reasonable detail, including the price thereof and any expenses in connection therewith, together with a certification by the Borrower stating that such transaction is in compliance with terms and provisions of the Credit Agreement
and the other Loan Documents. 
 (remainder of page intentionally left blank; signature pages follow) 

  
 20 

 IN WITNESS WHEREOF, each of the undersigned has caused this Guarantee and Collateral Agreement to
be duly executed and delivered as of the date first above written. 
  

			
	 GRANTORS:
  

VIOLIN MEMORY, INC.

		
	By:	 	/s/ Cory Sindelar
		
	Name:	 	Cory Sindelar
		
	Title:	 	Chief Financial Officer

  
 Signature Page 1 to
Guarantee and Collateral Agreement 

 
			
	 ADMINISTRATIVE AGENT:
  

SILICON VALLEY BANK

		
	By:	 	/s/ Matthew Wright
		
	Name:	 	Matthew Wright
		
	Title:	 	Director

  
 Signature Page 2 to
Guarantee and Collateral Agreement 

 SCHEDULE 1 

NOTICE ADDRESSES OF GUARANTORS 
  

			
	Guarantor	 	Notice Address
	Violin Memory, Inc.	 	 4555 Great America Parkway, Suite #150

Santa Clara, CA 95054

  
 Schedule 1 

 SCHEDULE 3 

FILINGS AND OTHER ACTIONS 

REQUIRED TO PERFECT SECURITY INTERESTS 
 1.
UCC-1 financing statement naming each Co-Borrower as “debtor” and the Administrative Agent as “secured party” (for the ratable benefit of the Secured Parties) thereunder, to be filed with the filing office of the Secretary of
State of the State of Delaware. 

  
 Schedule 3 

 SCHEDULE 4 

LOCATION OF JURISDICTION OF ORGANIZATION, 

CHIEF EXECUTIVE OFFICE AND LOCATION OF BOOKS 
  

									
	Grantor	 	Jurisdiction of Organization	 	 Organizational Identification

Number
	 	Location of Chief Executive Office	 	Location of Books
					
	Violin Memory, Inc.	 	Delaware	 	20-3940944	 	4555 Great America Parkway, Suite #150, Santa Clara, CA 95054	 	4555 Great America Parkway, Suite #150, Santa Clara, CA 95054

  
 Schedule 5 

 SCHEDULE 5 

DEPOSIT AND SECURITIES ACCOUNTS 

Designated Deposit Account maintained with the Administrative Agent. 

Borrower Deposit Accounts nos. 1894-67810-9, 1894-67811-7, 1894-67815-8 and 1894-67819-0, each maintained with Comerica Bank. 

Borrower Securities Account no. 814-012213 maintained with Morgan Stanley Smith Barney LLC. 

Borrower Deposit Account no. 50410145988978 maintained with National Westminster Bank (United Kingdom) 

  
 Schedule 5 

 ANNEX 1 TO 

GUARANTEE AND COLLATERAL AGREEMENT 

FORM OF 
 ASSUMPTION
AGREEMENT 
 This ASSUMPTION AGREEMENT, dated as of
[                        ], is executed and delivered by
[                                        ]
(the “Additional Grantor”), in favor of SILICON VALLEY BANK, as administrative agent (in such capacity, the “Administrative Agent”) for the banks and other financial institutions or entities (the
“Lenders”) from time to time parties to that certain Credit Agreement, dated as of October 24, 2014 (as amended, amended and restated, supplemented, restructured or otherwise modified, renewed or replaced from time to
time, the “Credit Agreement”), among Violin Memory, Inc., a Delaware corporation (the “Borrower”), the Subsidiary Borrowers, if any, party thereto, the Lenders party thereto and the Administrative
Agent. All capitalized terms not defined herein shall have the respective meanings ascribed to such terms in such Credit Agreement. 

W  I  T  N  E  S  S  
E  T  H: 
 WHEREAS, in connection with the Credit Agreement, the Borrower and certain Subsidiary
Borrowers (other than the Additional Grantor) have entered into that certain Guarantee and Collateral Agreement, dated as of October 24, 2014, in favor of the Administrative Agent for the benefit of the Secured Parties defined therein (the
“Guarantee and Collateral Agreement”); 
 WHEREAS, the Borrower is required, pursuant to Section 6.12 of the
Credit Agreement to cause the Additional Grantor to become a party to the Guarantee and Collateral Agreement as a “Grantor” thereunder in order to grant in favor of the Administrative Agent (for the ratable benefit of the Lenders) the
Liens and security interests therein specified and otherwise to undertake the obligations of a “Grantor” contemplated therein; and 

WHEREAS, the Additional Grantor has agreed to execute and deliver this Assumption Agreement in order to become a party to and a
“Grantor” under the Guarantee and Collateral Agreement. 
 NOW, THEREFORE, IT IS AGREED: 

1. Guarantee and Collateral Agreement. By executing and delivering this Assumption Agreement, the Additional Grantor, as provided in
Section 8.13 of the Guarantee and Collateral Agreement, (a) hereby becomes a party to the Guarantee and Collateral Agreement as a “Grantor” thereunder with the same force and effect as if originally named therein as a Grantor
and, without limiting the generality of the foregoing, hereby expressly assumes all obligations and liabilities of a Grantor thereunder, and (b) hereby grants to the Administrative Agent, for the benefit of the Secured Parties, as security for
the Secured Obligations, a security interest in all of the Additional Grantor’s right, title and interest in any and to all Collateral of the Additional Grantor, in each case whether now owned or hereafter acquired or in which the Additional
Grantor now has or hereafter acquires an interest and wherever the same may be located, but subject in all respects to the terms, conditions and exclusions set forth in the Guarantee and Collateral Agreement. The information set forth in Schedule
1 hereto is hereby added to the information set forth in the Schedules to the Guarantee and Collateral Agreement. The Additional Grantor hereby represents and warrants that each of the representations and warranties contained in
Section 4 of the Guarantee and Collateral Agreement (x) that is qualified by materiality is true and correct, and (y) that is not qualified by materiality, is true and correct in all material respects, in each case, on and as
the date hereof (after giving effect to this Assumption Agreement) as if made on and as of such date (except to the extent any such representation and warranty expressly relates to an earlier date, in which case such representation and warranty was
true and correct in all material respects as of such earlier date). 

  
 Annex 1 

 2. Governing Law. THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF CALIFORNIA (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF). THE PROVISIONS OF SECTION 10.14 OF THE CREDIT AGREEMENT REGARDING SUBMISSION TO JURISDICTION AND JURY TRIAL WAIVER
SHALL BE APPLICABLE TO THIS AGREEMENT AND ARE HEREBY INCORPORATED HEREIN, MUTATIS MUTANDIS, AS IF SET FORTH HEREIN IN FULL. 

3. Loan Document. This Assumption Agreement shall constitute a Loan Document under the Credit Agreement. 

IN WITNESS WHEREOF, the undersigned has caused this Assumption Agreement to be duly executed and delivered as of the date first above written.

  

			
	[ADDITIONAL GRANTOR]
		
	By:	 	 
		 	Name:
		 	Title:

  
 Annex 1 

 Schedule to  

Assumption Agreement 

Supplement to Schedule 1 

Supplement to Schedule 3 

Supplement to Schedule 4 

Supplement to Schedule 5 

  
 Annex 1 

 EXECUTION VERSION 

EXHIBIT A 
 FORM OF
GUARANTEE AND COLLATERAL AGREEMENT 
 (Please see attached form) 

  
 Exhibit A 

 EXHIBIT B 

FORM OF COMPLIANCE CERTIFICATE 

VIOLIN MEMORY, INC. 

Date:                     ,
20         
 This Compliance Certificate is delivered pursuant to
Section 6.2(b)(ii) of that certain Credit Agreement, dated as of October 24, 2014, among Violin Memory, Inc., a Delaware corporation (the “Borrower”), the Subsidiary Borrowers party thereto, the Lenders party
thereto, and Silicon Valley Bank, as Administrative Agent (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit Agreement”). Unless otherwise defined
herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 1. The
undersigned, a duly authorized and acting Responsible Officer of the Borrower, hereby certifies to the Administrative Agent, in his/her capacity as an officer of the Borrower, and not in any personal capacity, as follows: 

2. I have reviewed and am familiar with the contents of this Compliance Certificate. 

3. I have reviewed the terms of the Credit Agreement and the other Loan Documents and have made, or caused to be made under my supervision, a
review in reasonable detail of the transactions and condition of the Borrower and its Subsidiaries during the accounting period covered by the financial statements attached hereto as Attachment 1 (the “Financial
Statements”). Except as set forth on Attachment 2, such review did not disclose the existence during or at the end of the accounting period covered by the Financial Statements, and I have no knowledge of the existence as of
the date of this Compliance Certificate, of any condition or event which constitutes a Liquidity Event, a Default or an Event of Default. 

4. Attached hereto as Attachment 3 are the computations showing compliance with the covenants set forth in Section 7.1 of
the Credit Agreement, as well as a calculation of Liquidity as of the date hereof. 
 5. Attached hereto as Attachment 4 is
detailed account balance information relating to all Deposit Accounts and Securities Accounts of the Borrower and its consolidated Subsidiaries that are not maintained with the Administrative Agent or one of its Affiliates. 

6. [To the extent not previously disclosed to the Administrative Agent, a description of any change in the jurisdiction of organization of any
Loan Party is attached hereto as Attachment [5].] 
 [Remainder of page intentionally left blank; signature page follows] 

  
 Exhibit B 

 IN WITNESS WHEREOF, I have executed this Compliance Certificate as of the date first written
above. 
  

			
	VIOLIN MEMORY, INC.
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 

  
 Exhibit B 

 Attachment 1 

to Compliance Certificate 
 [Attach
Financial Statements] 

  
 Exhibit B 

 Attachment 2 

to Compliance Certificate 
 Except
as set forth below, no Liquidity Event, Default or Event of Default has occurred. [If a Liquidity Event, a Default or an Event of Default has occurred, the following describes the nature of the Liquidity Event, the Default or the Event of Default in
reasonable detail and the steps, if any, being taken or contemplated by the Borrower to be taken on account thereof.] 

  
 Exhibit B 

 Attachment 3 

to Compliance Certificate 

Preliminary Note to Compliance Certificate Calculations 

The information described in Parts I and II of this Attachment 3 is as of
[            ], [            ] (the “Statement Date”), and pertains to the Subject Period defined below,
as applicable. The information described in Part III of this Attachment 3 is as of the date of the Compliance Certificate to which this Attachment 3 is attached. 

 

											
	I.	  	 Section 7.1(a)—Minimum Consolidated Quick Ratio
	  			
			
		  	A.	  	Consolidated Quick Assets for the Statement Date	  
					
		  		  	1.	  	All unrestricted cash and Cash Equivalents (other than to the extent constituting proceeds of any Non-Formula-Based Revolving Loan) that are maintained in Deposit Accounts or Securities Accounts, in any such case, with SVB or one
of its Affiliates as of such date:	  	$	                            	  
					
		  		  	2.	  	All net accounts receivable that would appear on a consolidated balance sheet of the Borrower prepared as of the Statement Date in accordance with GAAP:	  	$	                            	  
					
		  		  	3.	  	 Consolidated Quick Assets for the Statement Date

(Lines I.A.1+I.A.2):
	  	$	                            	  
				
		  	B.	  	Consolidated Current Liabilities as of the Statement Date:	  	$	                            	  
				
		  	C.	  	Aggregate amount of Deferred Revenue of the Borrower and its consolidated Subsidiaries as of the Statement Date (to the extent included in Consolidated Current Liabilities as of the Statement Date):	  	$	                            	  
				
		  	D.	  	Aggregate principal amount of all Formula-Based Revolving Loans outstanding as of the Statement Date:	  	$	                            	  
				
		  	E.	  	Sum of Lines I.B minus I.C plus I.D:	  	$	                            	  
				
		  	C.	  	Consolidated Quick Ratio for the Statement Date (Ratio of Line I.A.3 to I.E):	  	 	             to 1.00	  
				
		  		  	Minimum required:	  	 	1.60 to 1.00	  
				
		  		  	Covenant compliance?                     Yes  
 ̈                    No   ̈	  			
				
		  		  	Does the amount on Line I.A.3 equal or exceed $30,000,000?	  	 	Yes   ̈    No   ̈	  

  
 Exhibit B 

															
			
	 	II.	  	  	 	Section 7.1(b)—Minimum Performance to Plan	  			
				
				  	 	A.	  	  	Aggregate amount of revenues forecasted in the Revenue Plan as being generated by the Borrower and its consolidated Subsidiaries during the fiscal quarter of the Borrower ended on the Statement Date:	  	$	                            	  
				
				  	 	B.	  	  	Aggregate amount of revenues actually generated by the Borrower and its consolidated Subsidiaries during the fiscal quarter of the Borrower ended on the Statement Date:	  	$	                            	  
				
				  	 	C.	  	  	Amount equal to 80% of the amount specified in Line II.A:	  	$	                            	  
				
				  	 	D.	  	  	Is amount specified in Line II.B equal to or greater than the amount specified in Line II.C:	  	 	Yes   ̈    No   ̈	  
				
				  				  	Covenant compliance:                     Yes  
 ̈                    No   ̈	  			

  
 Exhibit B 

													
			
	 	III.	  	  	Minimum Liquidity	  			
				
				  	A.	  	Aggregate amount of all unrestricted cash and Cash Equivalents (i) that would appear on a consolidated balance sheet of the Borrower prepared as of the Statement Date in accordance with GAAP and (ii) that are held as
of the Statement Date in any Deposit Accounts or Securities Accounts that are maintained with the Administrative Agent or any of its Affiliates or that are maintained as of the Statement Date in other Deposit Accounts or Securities Accounts with
respect to which the Administrative Agent shall have received (A) a monthly statement attached to each Compliance Certificate, and (B) upon the Administrative Agent’s request pursuant to Section 6.16 of the Credit Agreement, current balance
information:	  	$	                            	  
				
				  	B.	  	Aggregate amount of short-term securities purchased in accordance with the Board-Approved Cash Investment Policy that are held as of the Statement Date in any Securities Account that are maintained with the
Administrative Agent or any of its Affiliates or that are maintained as of the Statement Date in Securities Accounts with respect to which the Administrative Agent shall have received (A) a monthly statement attached to each Compliance
Certificate and (B) upon the Administrative Agent’s request pursuant to Section 6.16 of the Credit Agreement, current balance information for each such Securities Account:	  	$	                            	  
				
				  	C.	  	Aggregate principal balance of all Revolving Loans outstanding as of the Statement Date:	  	$	                            	  
				
				  	D.	  	 Liquidity as of the Statement Date:

(Line III.A plus Line III.B minus Line III.C):
	  	$	                            	  
				
				  		  	Minimum amount required to avoid a Liquidity Event:	  	$	50,000,000	  
				
				  		  	Liquidity Event?                     Yes  
 ̈                    No   ̈	  			

  
 Exhibit B 

 Attachment 4 

to Compliance Certificate 
 Detailed
account balance information with respect to all Deposit Accounts and Securities Accounts of the Borrower and its consolidated Subsidiaries that are not maintained with the Administrative agent or one of its Affiliates: 

  
 Exhibit B 

 Attachment 5 

to Compliance Certificate 
 A
description of any change in the jurisdiction of organization of any Loan Party appears below: 

  
 Exhibit B 

 EXHIBIT C 

FORM OF SECRETARY’S CERTIFICATE 

[NAME OF APPLICABLE LOAN PARTY] 

This Certificate is delivered pursuant to Section 5.1[(e)][6.12(b)] of that certain Credit Agreement, dated as of October 24,
2014, among Violin Memory, Inc., a Delaware corporation (the “Borrower”), the Subsidiary Borrowers party thereto, the Lenders party thereto, and Silicon Valley Bank, as Administrative Agent (as amended, restated, amended and
restated, supplemented, restructured or otherwise modified from time to time, the “Credit Agreement”). Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to
them in the Credit Agreement. The undersigned Secretary of [the Borrower][insert the name of the certifying Loan Party, a [            ] [corporation][limited liability
company], the “Certifying Loan Party”)], solely in [her][his] capacity as the Secretary of [the Certifying Loan Party][the Borrower], and not in [her][his] individual capacity, hereby certifies to the Administrative Agent as
follows: 
 1. The representations and warranties made by [the Borrower][the Certifying Loan Party] in or pursuant to each of
the Loan Documents to which it is a party or which are contained in any certificate furnished by or on behalf of [the Borrower][the Certifying Loan Party] pursuant to any of the Loan Documents to which it is a party are, (i) to the extent
qualified by materiality, true and correct, and (ii) to the extent not qualified by materiality, true and correct in all material respects, in each case, on and as of the date hereof with the same effect as if made on the date hereof, except to
the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date. 

2. I am the duly elected and qualified Secretary of [the Borrower][the Certifying Loan Party]. 

3. No Default or Event of Default has occurred and is continuing as of the date hereof or after giving effect to the Loans to
be made on the date hereof and the use of proceeds thereof. 
 4. [The conditions precedent set forth in
Section 5.1, of the Credit Agreement were satisfied or waived, as applicable, as of the Closing Date.] 
 5.
There are no liquidation or dissolution proceedings pending or, to my knowledge, threatened against [the Borrower][the Certifying Loan Party], nor has any other event occurred which could be reasonably likely to materially adversely affect or
threaten the continued [corporate][company] existence of [the Borrower][the Certifying Loan Party]. 
 6. [The Borrower][The
Certifying Loan Party] is a [corporation][limited liability company] duly [incorporated][organized], validly existing and in good standing under the laws of the jurisdiction of its organization. 

7. Attached hereto as Annex 1 is a true and complete copy of the resolutions duly adopted by the Board of
[Directors][Managers] of [the Borrower][the Certifying Loan Party] authorizing the execution, delivery and performance of the Loan Documents to which [the Borrower][the Certifying Loan Party] is a party and all other agreements, documents and
instruments to be executed, delivered and performed in connection therewith. Such resolutions 

  
 Exhibit C 

 
have not in any way been amended, modified, revoked or rescinded, and have been in full force and effect since their adoption up to and including the date hereof and are now in full force and
effect. 
 8. Attached hereto as Annex 2 is a true and complete copy of the [By-Laws][Operating Agreement] of
[the Borrower][the Certifying Loan Party] as in effect on the date hereof. 
 9. Attached hereto as Annex 3 is a
true and complete copy of the Certificate of [Incorporation][Formation] of [the Borrower][the Certifying Loan Party] as in effect on the date hereof, along with a long-form good-standing certificate for [the Borrower][the Certifying Loan Party] from
the jurisdiction of its organization. 
 10. Attached hereto as Annex 4 is a true and correct list of the Persons
that are now duly elected and qualified officers of [the Borrower][the Certifying Loan Party] holding the offices indicated next to their respective names, and the signatures appearing opposite their respective names are the true and genuine
signatures of such officers, and each of such officers, acting alone, is duly authorized to execute and deliver on behalf of [the Borrower][the Certifying Loan Party] each of the Loan Documents to which it is a party and any certificate or other
document to be delivered by [the Borrower][the Certifying Loan Party] pursuant to the Loan Documents to which it is a party: 

[Signature page follows] 

  
 Exhibit C 

 IN WITNESS WHEREOF, I have hereunto set my hand as of the date set forth below. 

 

							
			
		 		 	 
		 		 	Name:	 	 
		 		 	Title:	 	Secretary

 I, [                ],
in my capacity as the [                ] of [the Borrower][the Certifying Loan Party], do hereby certify in the name and on behalf of [the Borrower][the
Certifying Loan Party] that [                ] is the duly elected and qualified Secretary of [the Borrower][the Certifying Loan Party] and that the signature
appearing above is [her][his] genuine signature. 
  

							
			
	Date: [                    ]	 		 	 
		 		 	Name:	 	 
		 		 	Title:	 	 

  
 Exhibit C 

 ANNEX 1 

RESOLUTIONS 

  
 Exhibit C 

 ANNEX 2 

[BY-LAWS][OPERATING AGREEMENT] 

  
 Exhibit C 

 ANNEX 3 

[CERTIFICATE OF INCORPORATION][CERTIFICATE OF FORMATION] 

AND 
 GOOD-STANDING
CERTIFICATE 

  
 Exhibit C 

 ANNEX 4 

INCUMBENCY 

[insert name of applicable Loan Party] 
  

					
	 Name
	  	 Office
	  	 Signature

			
	[                                ]	  	[                                ]	  	 
	[                                ]	  	[                                ]	  	 
	[                                ]	  	[                                ]	  	 
	[                                ]	  	[                                ]	  	 

  
 Exhibit C 

 EXHIBIT D 

FORM OF SOLVENCY CERTIFICATE 

VIOLIN MEMORY, INC. 

Date:                     ,
20         
 To the Administrative Agent, 

and each of the Lenders party 
 to the Credit Agreement referred
to below: 
 This SOLVENCY CERTIFICATE (this “Certificate”) is delivered pursuant to Section 5.1(p) of that
certain Credit Agreement, dated as of October 24, 2014, among Violin Memory, Inc., a Delaware corporation (the “Borrower”), the Subsidiary Borrowers party thereto, the Lenders party thereto, and Silicon Valley Bank, as
Administrative Agent (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit Agreement”). Unless otherwise defined herein, terms defined in the Credit
Agreement and used herein shall have the meanings given to them in the Credit Agreement. The undersigned Chief Financial Officer of the Borrower, in such capacity only and not in his individual capacity, does hereby certify to the Administrative
Agent and each of the Lenders, on behalf of each Loan Party as of the date hereof, that: 
  

	1.	For purposes of this Certificate, the terms below shall have the following definitions: 

  

	 	(a)	“Fair Value” 

  

	 	  	The amount at which the assets (both tangible and intangible), in their entirety, of the Borrower would change hands between a willing buyer and a willing seller, within a commercially reasonable period of time, each
having reasonable knowledge of the relevant facts, with neither being under any compulsion to act. 

  

	 	(b)	“Present Fair Salable Value” 

  

	 	  	The amount that could be obtained by an independent willing seller from an independent willing buyer if the assets of the Borrower are sold with reasonable promptness in an arm’s-length transaction under present
conditions for the sale of comparable business enterprises. 

  

	 	(c)	“Stated Liabilities” 

  

	 	  	The recorded liabilities (including contingent liabilities that would be recorded in accordance with GAAP) of the Borrower as of the date hereof after giving effect to the Loans made by the Lenders on the Closing Date
and the consummation of the Transactions, determined in accordance with GAAP consistently applied. 

  
 Exhibit D 

	 	(d)	“Identified Contingent Liabilities” 

  

	 	  	The maximum estimated amount of liabilities reasonably likely to result from pending litigation, asserted claims and assessments, guaranties, uninsured risks and other contingent or unliquidated liabilities of the
Borrower after giving effect to the Loans made by the Lenders on the Closing Date and the consummation of the Transactions (including all fees and expenses related thereto but exclusive of such contingent liabilities to the extent reflected in
Stated Liabilities), as identified and explained in terms of their nature and estimated magnitude by responsible officers of the Borrower. 

  

	 	(e)	“will be able to pay its or their Stated Liabilities and Identified Contingent Liabilities as they mature or otherwise become payable” 

 

	 	  	For the period from the date hereof through the Revolving Termination Date (and after giving effect to the Loans made by the Lenders on the Closing Date and the consummation of the Transactions), the Borrower will have
sufficient assets and cash flow to pay its Stated Liabilities and Identified Contingent Liabilities as those liabilities mature or otherwise become due and payable. 

 

	 	(f)	“does not have Unreasonably Small Capital” 

  

	 	  	For the period from the date hereof through the Revolving Termination Date, the Borrower, after giving effect to the Loans made by the Lenders on the Closing Date and the consummation of the Transactions and all
Indebtedness (including Indebtedness incurred under the Credit Agreement) being incurred or assumed and Liens created by the Borrower in connection therewith, is a going concern and has sufficient capital to conduct any business in which it is or is
about to become engaged and to remain a going concern. 

 2. For purposes of this Certificate, the undersigned has, or officers
of the Borrower under the direction and supervision of the undersigned have, performed the following procedures as of and for the periods set forth below. 
  

	 	(a)	Reviewed the financial statements referred to in Section 5.1(c) of the Credit Agreement. 

  

	 	(b)	Made inquiries of certain officials of the Borrower who have responsibility for financial and accounting matters regarding the existence and amount of Identified Contingent Liabilities associated with the business of
the Borrower. 

  

	 	(c)	Reviewed, to the satisfaction of the undersigned, the Loan Documents and the respective Schedules and Exhibits thereto. 

  

	 	(d)	With respect to Identified Contingent Liabilities: 

  

	 	1.	inquired of certain officials of the Borrower who have responsibility for legal, financial and accounting matters as to the existence and estimated liability with respect to all contingent liabilities associated with
the business of the Borrower; and 

  
 Exhibit D 

	 	2.	confirmed with officers of the Borrower that, to the best of such officers’ knowledge, (i) all appropriate items were included in Stated Liabilities or Identified Contingent Liabilities and (ii) the
amounts relating thereto were the maximum estimated amount of liabilities reasonably likely to result therefrom as of the date hereof. 

  

	 	(e)	Made inquiries of certain officers of the Borrower who have responsibility for financial reporting and accounting matters regarding whether they were aware of any events or conditions that, as of the date hereof, would
cause the Borrower, after giving effect to the Loans made by the Lenders on the Closing Date and the consummation of the Transactions, to (i) have assets with a Fair Value that is less than the sum of its Stated Liabilities and Identified
Contingent Liabilities; (ii) have assets with a Present Fair Salable Value that is less than the amount that will be required to pay its Stated Liabilities and Identified Contingent Liabilities as they become absolute and matured;
(iii) have Unreasonably Small Capital; or (iv) not be able to pay its or their respective Stated Liabilities and Identified Contingent Liabilities as they mature or otherwise become payable. 

 

	 	(f)	Prepared the projections relating to the Borrower, which have been previously delivered to the Administrative Agent and the Lenders, based on good faith estimates and assumptions, and have re-examined such projections
on the date hereof and considered the effect thereon of any changes since the date of the preparation thereof on the results projected therein. After such review, the undersigned hereby certifies that in his opinion such projections are reasonable
and attainable (it being recognized by the Lenders that such projections of future events are not to be viewed as facts and that actual results during the period or periods covered by any such projections may differ from the projected results
contained therein) and such projections support the conclusions contained in paragraph 3 below. 

 3. Based on and
subject to the foregoing, the undersigned Chief Financial Officer of the Borrower hereby certifies on behalf of the Borrower that, on and as of the date hereof and after giving effect to the Loans made by the Lenders on the Closing Date and the
consummation of the Transactions, the initial borrowings on the Closing Date and the application of the proceeds thereof, it is my opinion that (i) the Fair Value of the assets of the Borrower exceed the aggregate amount of the Borrower’s
Stated Liabilities and Identified Contingent Liabilities; (ii) the Present Fair Salable Value of the assets of the Borrower will be greater than the amount that will be required to pay the Borrower’s Stated Liabilities and Identified
Contingent Liabilities as they become absolute and matured; (iii) the Borrower does not have Unreasonably Small Capital; and (iv) the Borrower intends to and believes that it will be able to pay its Stated Liabilities and Identified
Contingent Liabilities as they mature or otherwise become payable. 
 4. The Borrower does not intend, in receiving the Loans to be made on
the Closing Date and consummating the Transactions and the other transactions contemplated by the Loan Documents, to delay, hinder, or defraud either present or future creditors. 

(Signature page follows) 

  
 Exhibit D 

 I represent the foregoing information to be, to the best of my knowledge and belief, true and
correct and execute this Certificate as of the date first written above. 
  

			
	By:	 	 
	Name:	 	Cory Sindelar
	
	 as Chief Financial Officer of:

Violin Memory, Inc., a Delaware corporation

  
 Exhibit D 

 EXHIBIT E 

FORM OF ASSIGNMENT AND ASSUMPTION 

VIOLIN MEMORY, INC. 
 This
Assignment and Assumption Agreement (the “Assignment Agreement”) is dated as of the Assignment Effective Date set forth below and is entered into by and between the Assignor identified in item 1 below (the
“Assignor”) and the Assignee identified in item 2 below (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below
(as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions
set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment Agreement as if set forth herein in full. 

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases
and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Assignment Effective Date inserted by the Administrative Agent as contemplated below (i) all of the
Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of
such outstanding rights and obligations of the Assignor under the respective facilities identified below (including without limitation any guarantees included in such facilities) and (ii) to the extent permitted to be assigned under applicable
law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments
delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at
law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by the Assignor to the Assignee pursuant to clauses (i) and (ii) above being referred
to herein collectively as the “Assigned Interest”). Each such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment Agreement, without representation or warranty by the
Assignor. 
  

							
	1.	  	Assignor:	 	 	  	
				
		  		 	 	  	
				
	2.	  	Assignee:	 	 	  	
		
		  	[for Assignee, if applicable, indicate [Affiliate][Approved Fund] of [identify Lender]]
			
	3.	  	Co-Borrowers:	 	VIOLIN MEMORY, INC., a Delaware corporation, and certain of its Subsidiaries as “Subsidiary Borrowers” (as more fully described in the Credit Agreement)
				
	4.	  	Administrative Agent:	 	SILICON VALLEY BANK	  	
			
	5.	  	Credit Agreement:	 	Credit Agreement, dated as of October 24, 2014, among Violin Memory, Inc., a Delaware corporation, as the Borrower, certain of its Subsidiaries, as Subsidiary Borrowers, the Lenders party thereto, and SILICON VALLEY
BANK, as Administrative Agent

  
 Exhibit E 

							
			
	6.	  	Assigned Interest[s]:	 	

  

																			
	 Assignor
	  	 Assignee
	  	 Facility
Assigned1
	  	 Aggregate
Amount of
Commitment /
Loans for all
Lenders2
	 	  	 Amount of
Commitment /
Loans Assigned3
	 	  	 Percentage
Assigned of
Commitment /
Loans4
	 	  	 CUSIP Number

							
		  		  		  	 	$                	  	  	 	$                	  	  	 	            %	  	  	
							
		  		  		  	 	$                	  	  	 	$                	  	  	 	            %	  	  	
							
		  		  		  	 	$                	  	  	 	$                	  	  	 	            %	  	  	

  

							
			
	[7.	  	Trade Date:	 	
                         
   ]5

 Assignment Effective Date:
                             , 20        
[TO BE INSERTED BY THE ADMINISTRATIVE AGENT AND WHICH SHALL BE THE ASSIGNMENT EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

[Signature pages follow] 

 

	1 	Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this Assignment Agreement (e.g. “Formula-Based Revolving Facility”,
“Non-Formula-Based Revolving Facility”, etc.) 

	2 	Amount to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Assignment Effective Date. 

	3 	Amount to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Assignment Effective Date. 

	4 	Set forth, to at least 9 decimals, as a percentage of the applicable Commitment/Loans of all Lenders thereunder. 

	5 	To be completed if the Assignor(s) and the Assignee(s) intend that the minimum assignment amount is to be determined as of the Trade Date. 

  
 Exhibit E 

 The terms set forth in this Assignment Agreement are hereby agreed to: 

 

			
	 ASSIGNOR1

[NAME OF ASSIGNOR]

		
	By:	 	 
		 	Name:
		 	Title:
	
	 ASSIGNEE2

[NAME OF ASSIGNEE]

		
	By:	 	 
		 	Name:
		 	Title:

  

	1 	Add additional signature blocks as needed. 

	2 	Add additional signature blocks as needed. 

  
 Exhibit E 

 Consented to and Accepted: 
  

			
	 SILICON VALLEY BANK,
 as
Administrative Agent

		
	By	 	 
		 	Name:
		 	Title:
		
	By	 	 
		 	Name:
		 	Title:
	
	 [Consented to:]3

 
 [NAME OF RELEVANT PARTY]

		
	By	 	 
		 	Name:
		 	Title:
	
	[NAME OF RELEVANT PARTY]
		
	By	 	 
		 	Name:
		 	Title:

  

	3 	To be added only if the consent of the Borrower is required by the terms of the Credit Agreement.  

  
 Exhibit E 

 ANNEX 1 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties. 
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal
and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment Agreement and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit
Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of any Loan Party, any of
their respective Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by any Loan Party, any of their respective Subsidiaries or Affiliates or any other Person of any of
their respective obligations under any Loan Document or any other instrument or document furnished pursuant hereto or thereto. 
 1.2.
Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment Agreement and to consummate the transactions contemplated hereby
and to become a Lender under the Credit Agreement, (ii) it meets all the requirements to be an Assignee under Section 10.6(b) of the Credit Agreement (subject to such consents, if any, as may be required under Section 10.6(b)(iii) of
the Credit Agreement), (iii) from and after the Assignment Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender
thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the person exercising discretion in making its decision to acquire the Assigned Interest, is
experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to
Section 6.1 thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment Agreement and to purchase the Assigned Interest, (vi) it
has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Assignment Agreement and
to purchase the Assigned Interest, and (vii) if it is a Non-U.S. Lender, attached to the Assignment Agreement is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the
Assignee; and (b) agrees that (i) it will, independently and without reliance on any of the Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under the Loan Documents and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be
performed by it as a Lender. 
 2. Payments. From and after the Assignment Effective Date, the Administrative Agent shall make all
payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Assignment Effective Date and to the Assignee for amounts which have
accrued from and after the Assignment Effective Date. 

  
 Exhibit E 

 3. General Provisions. This Assignment Agreement shall be binding upon, and inure to the
benefit of, the parties hereto and their respective successors and assigns. This Assignment Agreement may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature
page of this Assignment Agreement by telecopy (or other electronic method of transmission) shall be effective as delivery of a manually executed counterpart of this Assignment Agreement. This Assignment Agreement shall be governed by, and construed
and interpreted in accordance with, the laws of the State of California. 

  
 Exhibit E 

 EXHIBIT F-1 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Not Partnerships for U.S. Federal Income Tax Purposes) 

[Date] 

Reference is made to that certain Credit Agreement, dated as of October 24, 2014 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Violin Memory, Inc., a Delaware corporation (the “Borrower”), the Subsidiary Borrowers party thereto, the Lenders party thereto and Silicon Valley Bank, as
Administrative Agent for such Lenders (in such capacity; the “Administrative Agent”). Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 Pursuant to the provisions of Section 2.20 of the Credit Agreement, the undersigned hereby certifies that
(i) it is the sole record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of
the Code, (iii) it is not a ten percent shareholder of any Co-Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related to any Co-Borrower as described in
Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the Administrative Agent and the Borrower with a certificate of its
non-U.S. Person status on IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative
Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the
undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit
Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 IN WITNESS WHEREOF, the undersigned has caused
this certificate to be duly executed and delivered by its proper and duly authorized signatory as of the day and year first written above. 
  

			
	[Name of Lender]
		
	By	 	 
	Name:
	Titile:

  
 Exhibit F-1 

 EXHIBIT F-2 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Not Partnerships for U.S. Federal Income Tax Purposes) 

[Date] 

Reference is made to that certain Credit Agreement, dated as of October 24, 2014 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Violin Memory, Inc., a Delaware corporation (the “Borrower”), the Subsidiary Borrowers party thereto, the Lenders party thereto and Silicon Valley Bank, as
Administrative Agent for such Lenders (in such capacity; the “Administrative Agent”). Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 Pursuant to the provisions of Section 2.20 of the Credit Agreement, the undersigned hereby certifies that
(i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent
shareholder of any Co-Borrower within the meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related to any Co-Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN. By executing this
certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender
with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 IN WITNESS WHEREOF, the undersigned has caused this certificate to be duly executed and delivered by its proper and duly
authorized signatory as of the day and year first written above. 
  

			
	[Name of Participant]
		
	By	 	 
	Name:
	Titile:

  
 Exhibit F-2 

 EXHIBIT F-3 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Partnerships for U.S. Federal Income Tax Purposes) 

[Date] 

Reference is made to that certain Credit Agreement, dated as of October 24, 2014 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Violin Memory, Inc., a Delaware corporation (the “Borrower”), the Subsidiary Borrowers party thereto, the Lenders party thereto and Silicon Valley Bank, as
Administrative Agent for such Lenders (in such capacity; the “Administrative Agent”). Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 Pursuant to the provisions of Section 2.20 of the Credit Agreement, the undersigned hereby certifies that
(i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such participation, (iii) with respect such
participation, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of
Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of any Co-Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect
partners/members is a controlled foreign corporation related to any Co-Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its
partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN from each of such partner’s/member’s beneficial owners that is claiming the
portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have
at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 IN WITNESS WHEREOF, the undersigned has caused this certificate to be duly executed and delivered by its proper and duly
authorized signatory as of the day and year first written above. 
  

			
	[Name of Participant]
		
	By	 	 
	Name:
	Titile:

  
 Exhibit F-3 

 EXHIBIT F-4 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Partnerships for U.S. Federal Income Tax Purposes) 

[Date] 

Reference is made to that certain Credit Agreement, dated as of October 24, 2014 (as amended, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Violin Memory, Inc., a Delaware corporation (the “Borrower”), the Subsidiary Borrowers party thereto, the Lenders party thereto and Silicon Valley Bank, as
Administrative Agent for such Lenders (in such capacity; the “Administrative Agent”). Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 Pursuant to the provisions of Section 2.20 of the Credit Agreement, the undersigned hereby certifies that
(i) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such
Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect partners/members is
a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent
shareholder of any Co-Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to any Co-Borrower as described in
Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY
accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN from each of such
partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall
promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the
calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 IN WITNESS WHEREOF, the undersigned has caused this certificate to be duly executed and delivered by its proper and duly
authorized signatory as of the day and year first written above. 
  

			
	[Name of Lender]
		
	By	 	 
	Name:
	Titile:

  
 Exhibit F-4 

 EXHIBIT G 

FORM OF ADDENDUM 

VIOLIN MEMORY, INC. 
 The
undersigned Lender (i) hereby agrees to all of the provisions of that certain Credit Agreement, dated as of October 24, 2014, among Violin Memory, Inc., a Delaware corporation (the “Borrower”), the Subsidiary
Borrowers party thereto, the Lenders party thereto, and Silicon Valley Bank, as Administrative Agent (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit
Agreement”), and (ii) hereby agrees to become a party thereto, as a Lender, with all of the rights and obligations applicable to a Lender thereunder, including, without limitation, the obligation to make extensions of credit to the
Co-Borrowers in an aggregate principal amount not to exceed the amount of such Lender’s Revolving Commitment, as set forth opposite the undersigned Lender’s name in Schedule 1.1A to the Credit Agreement, as such amount may be
changed from time to time as provided in the Credit Agreement. Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

 

			
	 
	[Name of Lender]
		
	By:	 	 
	Name:
	Titile:

 Dated as of
[                    ] 

  
 Exhibit G 

 EXHIBIT H-1 

FORM OF FORMULA-BASED REVOLVING LOAN NOTE 

THIS FORMULA-BASED REVOLVING LOAN NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE TERMS AND PROVISIONS OF THE
CREDIT AGREEMENT REFERRED TO BELOW. TRANSFERS OF THIS FORMULA-BASED REVOLVING LOAN NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MUST BE RECORDED IN THE REVOLVING LOAN REGISTER MAINTAINED BY THE ADMINISTRATIVE AGENT PURSUANT TO THE TERMS OF SUCH
CREDIT AGREEMENT. 
  

			
	$[            ]	  	Santa Clara, California
		  	[insert date]

 FOR VALUE RECEIVED, the undersigned, Violin Memory, Inc., a Delaware corporation (the
““Borrower”), and any Subsidiary Borrower that executes this Formula-Based Revolving Loan Note (this “Note”) pursuant to a joinder agreement entered into after the date hereof (collectively with
the Borrower, the “Co-Borrowers”), HEREBY JOINTLY AND SEVERALLY AND UNCONDITIONALLY PROMISE TO PAY to [insert name of applicable Lender] (the “Lender”) or its registered assigns at the Funding
Office specified in the Credit Agreement (as hereinafter defined) in Dollars and in immediately available funds, on the Revolving Maturity Date the principal amount of (a) [insert amount of applicable Lender’s Revolving Commitment]
($[            ]), or, if less, (b) the aggregate unpaid principal amount of all Formula-Based Revolving Loans made by the Lender to the Co-Borrowers pursuant to
Section 2.4 of the Credit Agreement referred to below. Each Co-Borrower further jointly and severally agrees to pay interest in like money at such office on the unpaid principal amount hereof from time to time outstanding at the rates and on
the dates specified in the Credit Agreement. 
 The holder of this Note is authorized to indorse on the schedules annexed hereto and made a
part hereof or on a continuation thereof which shall be attached hereto and made a part hereof the date, Type and amount of each Formula-Based Revolving Loan made pursuant to the Credit Agreement and the date and amount of each payment or prepayment
of principal thereof, each continuation thereof, each conversion of all or a portion thereof to another Type and, in the case of Eurodollar Loans, the length of each Interest Period with respect thereto. Each such indorsement shall, absent manifest
error, constitute prima facie evidence of the accuracy of the information indorsed. The failure to make any such indorsement or any error in any such indorsement shall not affect the joint and several obligations of the Co-Borrowers in
respect of any Formula-Based Revolving Loan. 
 This Note (a) is one of the Formula-Based Revolving Loan Notes referred to in the
Credit Agreement, dated as of October 24, 2014, among the Co-Borrowers, the Lenders party thereto, and Silicon Valley Bank, as Administrative Agent (as amended, restated, amended and restated, supplemented or otherwise modified from time to
time, the “Credit Agreement”), (b) is subject to the provisions of the Credit Agreement and (c) is subject to optional prepayment in whole or in part as provided in the Credit Agreement. This Note is secured and
guaranteed as provided in the Loan Documents. Reference is hereby made to the Loan Documents for a description of the properties and assets in which a security interest has been granted, the nature and extent of the security and the guarantees, the
terms and conditions upon which the security interests and each guarantee were granted and the rights of the holder of this Note in respect thereof. 

  
 Exhibit H-1 

 Upon the occurrence and during the continuance of any one or more Events of Default, all
principal and all accrued interest then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable, all as provided in the Credit Agreement. 

All parties now and hereafter liable with respect to this Note, whether maker, principal, surety, guarantor, indorser or otherwise, hereby
waive presentment, demand, protest and all other notices of any kind. 
 The Borrower and, upon execution of a joinder to this Note, each
other Co-Borrower, acknowledges and agrees that the obligation to pay hereunder and under the Credit Agreement is the joint and several obligation of each Co-Borrower, that the Co-Borrowers are jointly and severally liable to pay such obligations
and to perform all covenants hereunder and thereunder, and that no Co-Borrower shall be relieved under this Note, the Credit Agreement or the other Loan Documents unless and until all such obligations have been satisfied in full. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
 NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN OR IN THE CREDIT AGREEMENT, THIS NOTE MAY NOT BE TRANSFERRED
EXCEPT PURSUANT TO AND IN ACCORDANCE WITH THE REGISTRATION AND OTHER PROVISIONS OF SECTION 10.6 OF THE CREDIT AGREEMENT. 
 THIS NOTE SHALL BE
GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF CALIFORNIA (WITHOUT GIVING EFFECT TO THE CONFLICT OF LAWS PRINCIPLES THEREOF). 

(Remainder of page intentionally left blank; signature page follows) 

  
 Exhibit H-1 

 
			
	VIOLIN MEMORY, INC.
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 

  
 Exhibit H-1 

 Schedule A 

to Formula-Based Revolving Loan Note 

LOANS, CONVERSIONS AND REPAYMENTS OF ABR LOANS 
  

													
	 Date
	  	 Amount of ABR
Loans
	  	 Amount 
Converted to ABR
Loans
	  	 Amount of Principal
of ABR Loans
Repaid
	  	 Amount of ABR
Loans Converted to
Eurodollar Loans
	  	 Unpaid Principal
Balance of ABR
Loans
	  	 Notation Made By

  
 Exhibit H-1 

 Schedule B 

to Formula-Based Revolving Loan Note 

LOANS, CONTINUATIONS, CONVERSIONS AND REPAYMENTS OF EURODOLLAR LOANS 
  

															
	 Date
	  	 Amount of
Eurodollar Loans
	  	 Amount
Converted to
Eurodollar Loans
	  	 Interest Period
and Eurodollar
Rate with
Respect
Thereto
	  	 Amount of
Principal of
Eurodollar Loans
Repaid
	  	 Amount of
Eurodollar Loans
Converted to
ABR
Loans
	  	 Unpaid Principal
Balance of
Eurodollar Loans
	  	 Notation Made
By

  
 Exhibit H-1 

 EXHIBIT H-2 

FORM OF NON-FORMULA-BASED REVOLVING LOAN NOTE 

THIS NON-FORMULA-BASED REVOLVING LOAN NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE TERMS AND PROVISIONS OF
THE CREDIT AGREEMENT REFERRED TO BELOW. TRANSFERS OF THIS NON-FORMULA-BASED REVOLVING LOAN NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MUST BE RECORDED IN THE REVOLVING LOAN REGISTER MAINTAINED BY THE ADMINISTRATIVE AGENT PURSUANT TO THE TERMS OF
SUCH CREDIT AGREEMENT. 
  

			
	$[            ]	  	Santa Clara, California
		  	[insert date]

 FOR VALUE RECEIVED, the undersigned, Violin Memory, Inc., a Delaware corporation (the
““Borrower”), and any Subsidiary Borrower that executes this Non-Formula-Based Revolving Loan Note (this “Note”) pursuant to a joinder agreement entered into after the date hereof (collectively
with the Borrower, the “Co-Borrowers”), HEREBY JOINTLY AND SEVERALLY AND UNCONDITIONALLY PROMISE TO PAY to [insert name of applicable Lender] (the “Lender”) or its registered assigns at the
Funding Office specified in the Credit Agreement (as hereinafter defined) in Dollars and in immediately available funds, in accordance with the provisions of the Credit Agreement referred to below, the principal amount of (a) [insert amount
of applicable Lender’s Revolving Commitment] ($[            ]), or, if less, (b) the aggregate unpaid principal amount of all Non-Formula-Based Revolving Loans made by the
Lender to the Borrower pursuant to Section 2.4 of the Credit Agreement referred to below. Each Co-Borrower further jointly and severally agrees to pay interest in like money at such office on the unpaid principal amount hereof from time to time
outstanding at the rates and on the dates specified in the Credit Agreement. 
 The holder of this Note is authorized to indorse on the
schedules annexed hereto and made a part hereof or on a continuation thereof which shall be attached hereto and made a part hereof the date and amount of each Non-Formula-Based Revolving Loan made pursuant to the Credit Agreement and the date and
amount of each payment or prepayment of principal thereof. Each such indorsement shall, absent manifest error, constitute prima facie evidence of the accuracy of the information indorsed. The failure to make any such indorsement or any error
in any such indorsement shall not affect the joint and several obligations of the Co-Borrowers in respect of any Non-Formula-Based Revolving Loan. 

This Note (a) is one of the Non-Formula-Based Revolving Loan Notes referred to in the Credit Agreement, dated as of October 24,
2014, among the Co-Borrowers, the Lenders party thereto, and Silicon Valley Bank, as Administrative Agent (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”), (b) is subject to the provisions of the Credit Agreement and (c) is subject to optional prepayment in whole or in part as provided in the Credit Agreement. This Note is secured and guaranteed as provided in the
Loan Documents. Reference is hereby made to the Loan Documents for a description of the properties and assets in which a security interest has been granted, the nature and extent of the security and the guarantees, the terms and conditions upon
which the security interests and each guarantee were granted and the rights of the holder of this Note in respect thereof. 
 Upon the
occurrence and during the continuance of any one or more Events of Default, all principal and all accrued interest then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable, all as provided in the Credit
Agreement. 

  
 Exhibit H-2 

 All parties now and hereafter liable with respect to this Note, whether maker, principal, surety,
guarantor, indorser or otherwise, hereby waive presentment, demand, protest and all other notices of any kind. 
 The Borrower and, upon
execution of a joinder to this Note, each other Co-Borrower, acknowledges and agrees that the obligation to pay hereunder and under the Credit Agreement is the joint and several obligation of each Co-Borrower, that the Co-Borrowers are jointly and
severally liable to pay such obligations and to perform all covenants hereunder and thereunder, and that no Co-Borrower shall be relieved under this Note, the Credit Agreement or the other Loan Documents unless and until all such obligations have
been satisfied in full. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings
given to them in the Credit Agreement. 
 NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN OR IN THE CREDIT AGREEMENT, THIS NOTE
MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AND IN ACCORDANCE WITH THE REGISTRATION AND OTHER PROVISIONS OF SECTION 10.6 OF THE CREDIT AGREEMENT. 

THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF CALIFORNIA (WITHOUT GIVING EFFECT TO THE CONFLICT
OF LAWS PRINCIPLES THEREOF). 
 (Remainder of page intentionally left blank; signature page follows) 

  
 Exhibit H-2 

 
			
	VIOLIN MEMORY, INC.
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 

  
 Exhibit H-2 

 Schedule A 

to Non-Formula-Based Revolving Loan Note 

LOANS, CONVERSIONS AND REPAYMENTS OF ABR LOANS 
  

									
	 Date
	  	 Amount of ABR Loans
	  	 Amount of Principal of ABR
Loans Repaid
	  	 Unpaid Principal Balance of
ABR Loans
	  	 Notation Made By

  
 Exhibit H-2 

 EXHIBIT I 

FORM OF BORROWING BASE CERTIFICATE 

VIOLIN MEMORY, INC. 

Date:                     ,
20         
 Violin Memory, Inc., a Delaware corporation (the
“Borrower”), through the undersigned in [his][her] capacity as a duly authorized officer of such entity or an entity authorized to certify on such entity’s behalf, hereby certifies to the Administrative Agent and each
Lender, in accordance with (i) the Credit Agreement, dated as of October 24, 2014 (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit
Agreement”, the terms defined therein and not otherwise defined herein being used herein as therein defined), among the Borrower, the Subsidiary Borrowers party thereto, the Lenders party thereto (the “Lenders”)
and Silicon Valley Bank, as administrative agent for such Lenders (together with its successors in such capacity, the “Administrative Agent”), and (ii) each of the other Loan Documents, that: 

A. Borrowing Base and Compliance 

The amounts, calculations and representations set forth on Schedule 1 hereto with respect to the Accounts of the Borrower are true and
correct in all material respects and were determined in accordance with the terms and definitions set forth in the Credit Agreement. All of the Accounts referred to in Schedule 1 (other than those Accounts designated as ineligible on
Schedule 1) are Eligible Accounts. Attached are reports with detailed aged listings of the Borrower’s accounts receivable (by invoice date), accounts payables and deferred revenue schedule, and supporting detail and documentation
with respect to the amounts, calculation and representations set forth on Schedule 1, all as reasonably requested by the Administrative Agent pursuant to the Credit Agreement. 

B. General Certifications 

The Borrower further certifies to the Administrative Agent and each Lender that: (i) the certifications, representations, calculations and
statements herein will be true and correct in all material respects as of the date hereof; (ii) each representation and warranty of each Loan Party contained in or pursuant to any Loan Document (A) to the extent qualified by materiality,
is true and correct, and (B) to the extent not qualified by materiality, is true and correct in all material respects, in each case, on and as of such date as if made on and as of such date, except to the extent such representations and
warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date; (iii) each of the covenants and agreements contained in any
Loan Document have been performed (to the extent required to be performed on or before the date hereof or each such effective date); and (iv) no Default or Event of Default has occurred and is continuing on the date hereof, nor will any thereof
occur after giving effect to the request above. 
 [Signature page follows] 

  
 Exhibit I 

 IN WITNESS WHEREOF, the undersigned has caused this Borrowing Base Certificate to be executed as
of the day first written above. 
  

			
	VIOLIN MEMORY, INC.
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 

  
 Exhibit I 

 SCHEDULE 1 

TO 
 BORROWING BASE
CERTIFICATE 
 OF 

VIOLIN MEMORY, INC. 
  

							
	ACCOUNTS	  			
			
	1.	  	Book Value of Accounts as of                     	  	$	                    	  
			
	2.	  	Additions (please explain on reverse)	  	$	                    	  
			
	3.	  	TOTAL ACCOUNTS	  	$	                    	  
		
	DEDUCTIONS TO ACCOUNTS (without duplication)	  			
			
	4.	  	Accounts that do not arise from the sale of goods or the performance of services by the Borrower in the ordinary course of its business	  	$	                    	  
			
	5.	  	Accounts upon which the Borrower’s right to receive payment is not absolute or is contingent upon the fulfillment of any condition whatsoever (other than any such contingencies or conditions that have already been
satisfied)	  	$	                    	  
			
	6.	  	Accounts as to which Borrower is not able to bring suit or otherwise enforce remedies against the applicable Account Debtor through judicial process or arbitration	  	$	                    	  
			
	7.	  	Accounts that represent a progress billing consisting of an invoice for goods sold or services rendered pursuant to a contract under which the applicable Account Debtor’s obligation to pay that invoice is subject to
Borrower’s completion of further performance under such contract or is subject to the equitable lien of a surety bond issuer	  	$	                    	  
			
	8.	  	Accounts to the extent that any defense, counterclaim, setoff or dispute is asserted as to such Account in writing (but only to the extent of the amount subject to such defense, counterclaim, setoff or dispute)	  	$	                    	  
			
	9.	  	Accounts that are not true and correct statements of bona fide indebtedness incurred in the amount of such Accounts for merchandise sold to or services rendered and accepted by the applicable Account Debtor	  	$	                    	  
			
	10.	  	Accounts with respect to which an invoice, reasonably acceptable to the Administrative Agent in form and substance and consistent with the Borrower’s past business practices, has not been sent to the applicable Account
Debtor (but excluding the amount of any non-refundable deposits that are required to be paid by the applicable Account Debtor)	  	$	                    	  
			
	11.	  	Accounts that (i) are not owned by Borrower, or (ii) are subject to any Lien of any other Person, other than Liens in favor of the Administrative Agent	  	$	                    	  

  
 Exhibit I 

							
			
	12.	  	Accounts that arise from a sale to any director, officer, other employee or Affiliate of any Loan Party, or to any entity that has any common officer or director with any Loan Party	  	$	                    	  
			
	13.	  	Accounts that are the obligation of an Account Debtor that is the United States government or a political subdivision thereof, or any state, county or municipality or department, agency or instrumentality thereof, unless the
Administrative Agent, in its sole discretion, has agreed to the contrary in writing and Borrower, if necessary or desirable in the reasonable determination of the Administrative Agent, has complied with respect to such obligation with the Federal
Assignment of Claims Act of 1940, or any applicable state, county or municipal law restricting assignment thereof	  	$	                    	  
			
	14.	  	Accounts (A) that are the obligations of Account Debtors located in foreign countries and that are not billed for and collected in the United States, (B) that are the obligations of Account Debtors located in foreign
countries and that are billed for and collected in the United States, but the Accounts of which Account Debtors the Administrative Agent has determined, acting in its commercially reasonable good faith business judgment, are not Eligible Accounts,
and (C) that (1) are the obligations of Account Debtors located in foreign countries and that are billed for and collected in the United States, and (2) are not deemed ineligible under clause (B) above, but that constitute
in excess of 40% of the aggregate amount of the Borrowing Base	  	$	                    	  
			
	15.	  	Accounts to the extent any Group Member is liable to the applicable Account Debtor related to such Account for goods sold or services rendered or to be rendered by such Group Member, but only to the extent of the potential
offset	  	$	                    	  
			
	16.	  	Accounts that arise with respect to goods that are delivered on a bill-and-hold,
cash-on-delivery basis or placed on consignment, guaranteed sale or other terms by reason of which the payment by the applicable Account Debtor is or may be conditional
(but only to the extent that any such delivery condition then applies)	  	$	                    	  
			
	17.	  	Accounts that are in default; provided that, without limiting the generality of the foregoing, an Account shall be deemed in default upon the occurrence of any of the following: (i) the Account is not paid within
ninety (90) days following its original invoice date (irrespective of whether the payment terms related to such Account permit payment after the 90th day following such original invoice
date); (ii) the Account Debtor obligated upon such Account suspends business, makes a general assignment for the benefit of creditors or fails to pay its debts generally as they come due; or (iii) a petition is filed by or against the
applicable Account Debtor obligated upon such Account under any Debtor Relief Law and such petition has not been removed, withdrawn or vacated	  	$	                    	  
			
	18.	  	Accounts that are obligations of an Account Debtor where 50% or more of the aggregate Dollar amount of all Accounts owing by such Account Debtor are unpaid ninety (90) days following the applicable original invoice dates
relating to such Accounts (irrespective of whether the payment terms relating to any such Accounts permit payment after the 90th day following such original invoice dates)	  	$	                    	  
			
	19.	  	Accounts as to which the Administrative Agent’s Lien is not a first priority perfected Lien	  	$	                    	  
			
	20.	  	Accounts as to which any of the representations or warranties in the Loan Documents is untrue	  	$	                    	  

  
 Exhibit I 

							
			
	21.	  	Accounts to the extent such Accounts exceed any credit limit established by the Administrative Agent, in its reasonable credit judgment	  	$	                    	  
			
	22.	  	Accounts to the extent that such Accounts, together with all other Accounts owing by such Account Debtor and its Affiliates as of any date of determination, exceed 25% of all Eligible Accounts	  	$	                    	  
			
	23.	  	Accounts that are payable in any currency other than Dollars, euros, British pound sterling or Japanese yen (unless converted into Dollars on terms reasonably satisfactory to the Administrative Agent)	  	$	                    	  
			
	24.	  	Accounts owing from an Account Debtor the amount of which may be subject to withholding based on the Account Debtor’s satisfaction of the Borrower’s complete performance (but only to the extent of the amount withheld
(sometimes called retainage billings)	  	$	                    	  
			
	25.	  	Accounts subject to contractual arrangements between the Borrower and an applicable Account Debtor where payments shall be scheduled or due according to completion or fulfillment requirements and where the applicable Account
Debtor has a right of setoff for damages suffered as a result of the Borrower’s failure to perform in accordance with the contract setting forth such requirements (sometimes called contracts accounts receivable, progress billings, milestone
billings or fulfillment contracts)	  	$	                    	  
			
	26.	  	Accounts subject to trust provisions, subrogation rights of a bonding company or a statutory trust	  	$	                    	  
			
	27.	  	Accounts the payments by the applicable Account Debtors in respect of which are not deposited by such Account Debtors directly into the Designated Deposit Account	  	$	                    	  
			
	28.	  	Accounts for which the instruments, chattel paper, security agreements, guarantees and/or other documents, information or property evidencing or securing such Accounts are subject to written confidentiality covenants of the
Borrower expressly prohibiting the delivery of such items to the Administrative Agent or an attorney client privilege which is not waivable by the Borrower	  	$	                    	  
			
	29.	  	Accounts for which the Administrative Agent, acting in its commercially reasonable good faith business judgment, determines collection to be doubtful	  	$	                    	  
			
	30.	  	TOTAL DEDUCTIONS TO ACCOUNTS (sum of #4 through #29)	  	$	                    	  
		
	ELIGIBLE ACCOUNTS	  	$	                    	  
			
	31.	  	Total amount of Eligible Accounts (#3 minus #30)	  	$	                    	  
			
	32.	  	BORROWING BASE VALUE OF ELIGIBLE ACCOUNTS (80% of #31)	  	$	                    	  
		
	RESERVES	  			
			
	33.	  	Aggregate amount of Reserves, if any, established by the Administrative Agent, in its reasonable credit judgment, against Eligible Accounts	  	$	                    	  

  
 Exhibit I 

							
		
	BORROWING BASE	  			
			
	34.	  	Borrowing Base value of Eligible Accounts (#32)	  	$	                    	  
			
	35.	  	Total Reserves (#33)	  	$	                    	  
			
	36.	  	TOTAL BORROWING BASE (#34 minus #35)	  	$	                    	  
		
	AVAILABLE FORMULA-BASED REVOLVING COMMITMENTS	  			
			
	37.	  	Total Formula-Based Revolving Commitments in effect as of the date hereof	  	$	                    	  
			
	38.	  	Total funds available (the lesser of #36 and #37)	  	$	                    	  
			
	39.	  	The aggregate principal balance of any Formula-Based Revolving Loans outstanding as of the date hereof	  	$	                    	  
			
	40.	  	AVAILABLE FORMULA-BASED REVOLVING COMMITMENTS (#38 minus #39)	  	$	                    	  

  

									
		 		 		 	BANK USE ONLY
				 	 
	COMMENTS:	 		 		 	Received by:	 	 
		 		 		 		 	AUTHORIZED SIGNER
		 		 		 	Date:	 	 
		 		 		 	Verified:	 	 
		 		 		 		 	AUTHORIZED SIGNER
		 	Date:	 	 
		 	Compliance Status:    Yes    No    

  
 Exhibit I 

 EXHIBIT J 

FORM OF SUBSIDIARY BORROWER JOINDER AGREEMENT 

Date: ______________, _____ 
 To: Silicon Valley
Bank, as Administrative Agent 
 Ladies and Gentlemen: 

This Subsidiary Borrower Joinder Agreement (this “Subsidiary Borrower Joinder Agreement”) is made and delivered by the
undersigned [insert name of applicable “Subsidiary Borrower”] (the “Designated Subsidiary Borrower”) pursuant to Section 6.12(b) of that certain Credit Agreement, dated as of October 24, 2014
(as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”), among Violin Memory, Inc., a Delaware corporation (the “Borrower”), the
Subsidiary Borrowers party thereto, the Lenders party thereto, and Silicon Valley Bank, as Administrative Agent for such Lenders, and reference is made thereto for full particulars of the matters described therein. All capitalized terms used in this
Subsidiary Borrower Joinder Agreement and not otherwise defined herein shall have the respective meanings assigned to such terms in the Credit Agreement. The Designated Subsidiary Borrower acknowledges receipt of copies of the Credit Agreement and
each of the other Loan Documents. 
 In consideration of the mutual conditions and agreements set forth in the Credit Agreement and this
Subsidiary Borrower Joinder Agreement, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows. 

Section 1. Representations and Warranties. On and as of the date of this Subsidiary Borrower Joinder Agreement (the “Effective
Date”), and for the benefit of the Administrative Agent and the Lenders, the Designated Subsidiary Borrower hereby makes for itself each of the representations and warranties made by each Subsidiary Borrower in the Credit Agreement and
each of the other Loan Documents, with only such changes as are indicated in Schedule 1 hereto. The Designated Subsidiary Borrower is a [describe entity type]. The true and correct U.S. taxpayer identification number of the Designated
Subsidiary Borrower is _____________. 
 Section 2. Agreement to be Bound; Joint and Several Liability; Further Assurances. 

(a) The Designated Subsidiary Borrower agrees that, on and as of the Effective Date, it shall become a “Subsidiary Borrower” and a
“Co-Borrower” under the Credit Agreement, each Note and each of the other Loan Documents and shall be bound by all the provisions of the Credit Agreement, each Note and each of the other Loan Documents to the same extent as if the
Designated Subsidiary Borrower had executed the Credit Agreement, each Note and each of the other Loan Documents, as a “Subsidiary Borrower” and a “Co-Borrower” thereunder, on the Effective Date. 

(b) From and after the Effective Date, all references to the “Subsidiary Borrowers” and the “Co-Borrowers” in the Credit
Agreement, the Notes and each of the other Loan Documents shall be deemed to refer to the Borrower, each other Subsidiary Borrower currently a party thereto, and the Designated Subsidiary Borrower, jointly and severally, and their respective
successors and assigns, including debtors-in-possession and bankruptcy trustees; words used therein in the singular shall be considered to have been used in the plural where the context and construction so requires in order to refer to more than one
Co-Borrower. 
 (c) From and after the Effective Date, the Designated Subsidiary Borrower and the Borrower (on behalf of itself and each
other Co-Borrower currently a party to the Credit Agreement), hereby irrevocably and unconditionally accept joint and several liability under the Credit Agreement, the Notes 

  
 Exhibit J 

 
and each other Loan Document for the mutual benefit, directly and indirectly, of each other, it being the intention of the Borrower (on behalf of itself and each other such Co-Borrower) and the
Designated Subsidiary Borrower that all obligations of the Borrower, the Co-Borrowers and the Designated Subsidiary Borrower be the joint and several obligations of all such parties, without preference or distinction among them. 

(d) The Designated Subsidiary hereby makes for the benefit of the Administrative Agent and each of the Lenders, each of the representations,
warranties, covenants, agreements and waivers set forth in Section 2.25 of the Credit Agreement, the terms of which are incorporated herein by this reference. 

(e) The documents required to be delivered to the Administrative Agent pursuant to Section 6.12(b) of the Credit Agreement with
respect to the Designated Subsidiary Borrower (including, without limitation, an accession to the Guarantee and Collateral Agreement and a joinder to each Note) will be furnished to the Administrative Agent in accordance with the requirements of the
Credit Agreement. 
 (f) The Designated Subsidiary Borrower hereby consents to the filing by the Administrative Agent or one or more UCC
financing statements to perfect its Liens in the Collateral of the Designated Subsidiary Borrower. The Designated Subsidiary Borrower shall, at the request of the Administrative Agent, execute such other documents and agreements, and shall take or
cause to be taken all actions, as the Administrative Agent may, from time to time, request to carry out the terms and conditions of this Subsidiary Borrower Joinder Agreement, the Credit Agreement and the other Loan Documents. 

(g) This Subsidiary Borrower Joinder Agreement shall constitute a Loan Document under the Credit Agreement. 

Section 3. Governing Law. THIS SUBSIDIARY BORROWER JOINDER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF
CALIFORNIA. Sections 10.13 and 10.14 of the Credit Agreement are hereby incorporated herein by this reference, mutatis mutandis, as if set for the herein in full. 

IN WITNESS WHEREOF, the parties hereto have caused this Subsidiary Borrower Joinder Agreement to be duly executed and delivered by
their proper and duly authorized officers as of the day and year first above written. 
  

			
	[insert name of Designated Subsidiary Borrower]
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 

  

			
	BORROWER
		
	By:	 	 
		
	Name:	 	 

  

					
		 	Title:_____________________________	 	

  
 Exhibit J 

 SCHEDULE TO 

SUBSIDIARY BORROWER JOINDER AGREEMENT 

  
 Exhibit J 

 EXHIBIT K 

FORM OF NOTICE OF BORROWING 

VIOLIN MEMORY, INC. 
 Date:
______________ 
  

	TO:	SILICON VALLEY BANK 

	    	3003 Tasman Drive 

	    	Santa Clara, CA 95054 

	    	Attention: Corporate Services Department 

  

	RE:	Credit Agreement, dated as of October 24, 2014 (as amended, modified, supplemented or restated from time to time, the “Credit Agreement”), by and among Violin Memory, Inc., a Delaware
corporation (the “Borrower”), the Subsidiary Borrowers party thereto, the Lenders party thereto and Silicon Valley Bank, as Administrative Agent for such Lenders (in such capacity; the “Administrative
Agent”). Capitalized terms used but not otherwise defined herein shall have the respective meanings given to such terms in the Credit Agreement. 

Ladies and Gentlemen: 
 The undersigned refers to
the Credit Agreement and hereby gives you irrevocable notice, pursuant to Section 2.5 of the Credit Agreement, of the borrowing of a [Formula-Based Revolving Loan][Non-Formula-Based Revolving Loan]. 

1. The requested Borrowing Date, which shall be a Business Day, is _______________. 

2. The aggregate amount of the requested Loan is $_______. 

3. The requested Loan shall consist of $___________ of ABR Loans and $______ of Eurodollar Loans. 

4. The duration of the Interest Period for any Formula-Based Revolving Loans that are Eurodollar Loans included in the requested Loan shall be
__________ [one][two][three][six] months. 
 5. [Insert instructions for remittance of the proceeds of the applicable Loans to be borrowed;
provided that any proceeds of any Non-Formula Revolving Loan must be deposited directly into the Non-Formula-Based Revolving Loan Proceeds Account.] 

6. The undersigned, in his/her capacity as a Responsible Officer of the Borrower and not in his/her individual capacity, hereby certifies to
the Administrative Agent that the following statements are true on the date hereof, and will be true on the date of the proposed Loan before and after giving effect thereto, and to the application of the proceeds therefrom, as applicable: 

(a) each representation and warranty of each Loan Party contained in or pursuant to any Loan Document (i) to the extent qualified by
materiality, is true and correct, and (ii) to the extent not qualified by materiality, is true and correct in all material respects, in each case, on and as of the date hereof as if made on and as of the date hereof, except to the extent such
representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date; 

(b) no Default or Event of Default exists or will occur after giving effect to the extensions of credit requested herein; [and] 

  
 Exhibit K 

 (c) after giving effect to such Revolving Extension of Credit, the availability and borrowing
limitations specified in Section 2.4 of the Credit Agreement will be satisfied[; and][.] 
 [(d) no Liquidity Event exists immediately
prior to or after giving effect to the making of the Non-Formula-Based Revolving Loan requested hereby. Attached hereto as Annex 1 is a Liquidity Report that specifies the calculation of Liquidity on a pro forma basis as of the requested
Borrowing Date after giving effect to the making of the Non-Formula-Based Revolving Loan requested hereby.] 
 [Signature page
follows] 

  
 Exhibit K 

 IN WITNESS WHEREOF, the undersigned has caused this notice to be duly executed and delivered by
its proper and duly authorized officer as of the day and year first written above. 
  

			
	VIOLIN MEMORY, INC.
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 

 For internal Bank use only 
  

									
	 Eurodollar Pricing Date
	  	Eurodollar
Rate	  	Eurodollar
Variance	 	 	Maturity
Date
		  		  	 	____	% 	 	

  
 Exhibit K 

 ANNEX 1 

TO NOTICE OF BORROWING 
  

													
		  	Liquidity as of the requested Borrowing Date (after giving effect to the making of the Non-Formula- Based Revolving Loan requested by this Notice of Borrowing) (such date, the “Statement Date”)	  			
				
		  	A.	  	Aggregate amount of all unrestricted cash and Cash Equivalents (i) that would appear on a consolidated balance sheet of the Borrower prepared as of the Statement Date in accordance with GAAP and (ii) that are held as
of the Statement Date in any Deposit Accounts or Securities Accounts that are maintained with the Administrative Agent or any of its Affiliates or that are maintained as of the Statement Date in other Deposit Accounts or Securities Accounts with
respect to which the Administrative Agent shall have received (A) a monthly statement attached to each Compliance Certificate, and (B) upon the Administrative Agent’s request pursuant to Section 6.16 of the Credit Agreement, current balance
information:	  	$	___________	  
				
		  	B.	  	Aggregate amount of short-term securities purchased in accordance with the Board-Approved Cash Investment Policy that are held as of such date in any Securities Accounts that are maintained with the Administrative
Agent or any of its Affiliates or that are maintained as of such date in other Securities Accounts with respect to which the Administrative Agent shall have received (A) a monthly statement attached to each Compliance Certificate and (B) upon the
Administrative Agent’s request pursuant to Section 6.16 of the Credit Agreement, current balance information:	  	  
 $
	  
 ___________
	  
   

				
		  	C.	  	Aggregate principal balance of all Revolving Loans outstanding as of the Statement Date:	  	$	___________	  
				
		  	D.	  	 Liquidity as of the Statement Date:

(Line A plus Line B minus Line C):
	  	$	___________	  
				
		  		  	Minimum amount required to avoid a Liquidity Event:	  	$	50,000,000	  
						
		  		  	Liquidity Event?	  	Yes   ̈	  	No   ̈                        
        	  			

  
 Exhibit K 

 EXHIBIT L 

FORM OF NOTICE OF CONVERSION/CONTINUATION 

VIOLIN MEMORY, INC. 
 Date:
_________________ 
  

	TO:	SILICON VALLEY BANK 

	    	3003 Tasman Drive 

	    	Santa Clara, CA 95054 

	    	Attention: 

  

	RE:	Credit Agreement, dated as of October 24, 2014 (as amended, modified, supplemented or restated from time to time, the “Credit Agreement”), by and among Violin Memory, Inc., a Delaware
corporation (the “Borrower”), the Subsidiary Borrowers party thereto, the Lenders party thereto and Silicon Valley Bank, as Administrative Agent for such Lenders (in such capacity; the “Administrative
Agent”). Capitalized terms used but not otherwise defined herein shall have the respective meanings given to such terms in the Credit Agreement. 

Ladies and Gentlemen: 
 The undersigned, in
his/her capacity as a Responsible Officer of the Borrower and not in his/her individual capacity, refers to the Credit Agreement and hereby gives you irrevocable notice pursuant to Section [2.13(a)] [2.13(b)] of the Credit Agreement, of the
[conversion] [continuation] of the Loans specified herein, that: 
 1. The date of the [conversion] [continuation] is _________________. 

2. The aggregate amount of the proposed Formula-Based Revolving Loans to be [converted] [continued] is $___________ 

3. The Formula-Based Revolving Loans are to be [converted into] [continued as] [Eurodollar] [ABR] Loans. 

4. The duration of the Interest Period for the Formula-Based Revolving Loans that are Eurodollar Loans included in the [conversion]
[continuation] shall be [one][two][three][six] months. 
 [5. The undersigned, on behalf of the Borrower, hereby certifies that the following
statements are true on the date hereof, and will be true on the date of the proposed conversion of any Formula-Based Revolving Loan that is an ABR Loan to a Formula-Based Revolving Loan that is a Eurodollar Loan, both before and after
giving effect thereto and to the application of the proceeds therefrom: 
 (a) each representation and warranty of each Loan Party contained
in or pursuant to any Loan Document (i) to the extent qualified by materiality, is true and correct, and (ii) to the extent not qualified by materiality, is true and correct in all material respects, in each case, on and as of the date
hereof as if made on and as of the date hereof, except to the extent such 

  
 Exhibit L 

 
representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier
date; 
 (b) no Default or Event of Default exists or shall occur after giving effect to the conversion of the ABR Loans to Eurodollar Loans
requested to be made on such date.; and 
 (c) no Liquidity Event exists immediately prior to or after giving effect to the
[conversion][continuation] of the Formula-Based Revolving Loan requested hereby. Attached hereto as Annex 1 is a Liquidity Report that specifies the calculation of Liquidity on a pro forma basis as of the requested [conversion][continuation]
date referenced above after giving effect to the [conversion][continuation] of the Formula-Based Revolving Loan requested hereby.] 

[Signature page follows] 

  
 Exhibit L 

 IN WITNESS WHEREOF, the undersigned has caused this notice to be duly executed and delivered by
its proper and duly authorized officer as of the day and year first written above. 
  

			
	VIOLIN MEMORY, INC.
		
	By:	 	 
		
	Name:	 	 
		
	Title:	 	 

 For internal Bank use only 

 

									
	 Eurodollar Pricing Date
	  	Eurodollar
Rate	  	Eurodollar
Variance	 	 	Maturity
Date
		  		  	 	____	% 	 	

  
 Exhibit L 

 ANNEX 1 

TO NOTICE OF CONVERSION/CONTINUATION 
  

													
		  	Liquidity as of the requested conversion/continuation date (after giving effect to the [conversion][continuation] of the Non-Formula-Based Revolving Loan requested by this Notice of Conversion/Continuation) (such
date, the “Statement Date”)	  			
				
		  	A.	  	Aggregate amount of all unrestricted cash and Cash Equivalents (i) that would appear on a consolidated balance sheet of the Borrower prepared as of the Statement Date in accordance with GAAP and (ii) that are held as
of the Statement Date in any Deposit Accounts or Securities Accounts that are maintained with the Administrative Agent or any of its Affiliates or that are maintained as of the Statement Date in other Deposit Accounts or Securities Accounts with
respect to which the Administrative Agent shall have received (A) a monthly statement attached to each Compliance Certificate, and (B) upon the Administrative Agent’s request pursuant to Section 6.16 of the Credit Agreement, current balance
information:	  	$	___________	  
				
		  	B.	  	Aggregate amount of short-term securities purchased in accordance with the Board-Approved Cash Investment Policy that are held as of such date in any Securities Accounts that are maintained with the Administrative
Agent or any of its Affiliates or that are maintained as of such date in other Securities Accounts with respect to which the Administrative Agent shall have received (A) a monthly statement attached to each Compliance Certificate and (B) upon the
Administrative Agent’s request pursuant to Section 6.16 of the Credit Agreement, current balance information:	  	  
 $
	  
 ___________
	  
   

				
		  	C.	  	Aggregate principal balance of all Revolving Loans outstanding as of the Statement Date:	  	$	___________	  
				
		  	D.	  	 Liquidity as of the Statement Date:

(Line A plus Line B minus Line C):
	  	$	___________	  
						
		  		  	Minim um amount required to avoid a Liquidity Event:	  		  		  	$	50,000,000	  
						
		  		  	Liquidity Event?	  	Yes   ̈	  	No   ̈                         
       	  			

  
 Exhibit LEX-4.2

 Exhibit 4.2 

Execution Version 
  

 
  

FIFTEENTH SUPPLEMENTAL INDENTURE 

among 
 CARRIZO
OIL & GAS, INC. 
 as Issuer 

and 
 THE SUBSIDIARY
GUARANTORS NAMED ON THE SIGNATURE PAGE HEREOF 
 as Subsidiary Guarantors 

and 
 WELLS FARGO BANK,
NATIONAL ASSOCIATION, 
 as Trustee 
  

 
 7.50% Senior
Notes due 2020 
  
  

October 30, 2014 
  

 
  

 TABLE OF CONTENTS 

 

									
	 ARTICLE ONE THE NOTES
	  	 	2	  
				
		 	 SECTION 101
	 	 Designation of Notes; Establishment of Form
	  	 	2	  
		 	 SECTION 102
	 	 Amount
	  	 	3	  
		 	 SECTION 103
	 	 Interest
	  	 	3	  
		 	 SECTION 104
	 	 Denominations
	  	 	3	  
		 	 SECTION 105
	 	 Place of Payment
	  	 	3	  
		 	 SECTION 106
	 	 Redemption
	  	 	3	  
		 	 SECTION 107
	 	 Maturity
	  	 	4	  
		 	 SECTION 108
	 	 Repurchase
	  	 	4	  
		 	 SECTION 109
	 	 [Reserved]
	  	 	4	  
		 	 SECTION 110
	 	 Guarantee
	  	 	4	  
		 	 SECTION 111
	 	 Other Terms of Notes
	  	 	4	  
		
	 ARTICLE TWO AMENDMENTS TO THE INDENTURE
	  	 	4	  
				
		 	 SECTION 201
	 	 Definitions
	  	 	4	  
		 	 SECTION 202
	 	 Other Definitions
	  	 	42	  
		 	 SECTION 203
	 	 Mutilated, Destroyed, Lost and Stolen Securities
	  	 	42	  
		 	 SECTION 204
	 	 Amendment of Indenture Without Consent of Holders
	  	 	43	  
		 	 SECTION 205
	 	 Limitation on Mergers and Consolidations
	  	 	43	  
		 	 SECTION 206
	 	 Issuance of Additional Notes
	  	 	45	  
		 	 SECTION 207
	 	 Redemption
	  	 	46	  
		 	 SECTION 208
	 	 Covenants
	  	 	49	  
		 	 SECTION 209
	 	 Amendment to Events of Default
	  	 	75	  
		 	 SECTION 210
	 	 Guarantees
	  	 	78	  
		 	 SECTION 211
	 	 Other Amendments
	  	 	79	  
		
	 ARTICLE THREE MISCELLANEOUS PROVISIONS
	  	 	81	  
				
		 	 SECTION 301
	 	 Integral Part
	  	 	81	  
		 	 SECTION 302
	 	 General Definitions
	  	 	81	  
		 	 SECTION 303
	 	 Adoption, Ratification and Confirmation
	  	 	81	  
		 	 SECTION 304
	 	 The Trustee
	  	 	81	  
		 	 SECTION 305
	 	 Counterparts
	  	 	81	  
		 	 SECTION 306
	 	 Governing Law
	  	 	81	  

  

					
	 Appendix 1 – Rule 144A/Regulation S Appendix
	  	 	Appendix - 1	  
	 Annex A – Form of Global Securities
	  	 	A-1	  
	 Annex B – Form of Supplemental Indenture
	  	 	B-1	  

  
 i 

 CARRIZO OIL & GAS, INC. 

FIFTEENTH SUPPLEMENTAL INDENTURE 

THIS FIFTEENTH SUPPLEMENTAL INDENTURE, dated as of October 30, 2014 (the “Fifteenth Supplemental Indenture”), among Carrizo
Oil & Gas, Inc., a Texas corporation (the “Company”), the subsidiary guarantors listed on the signature page hereof (each, a “Subsidiary Guarantor” and, collectively, the “Subsidiary Guarantors”) and Wells
Fargo Bank, National Association (the “Trustee”). 
 W I T N E S S E
T H : 
 WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture, dated as of May 28,
2008 (the “Original Indenture”) and, as supplemented by this Fifteenth Supplemental Indenture, the “Indenture”), providing for the issuance from time to time of one or more series of the Company’s Securities; 

WHEREAS, Sections 2.01 and 9.01(9) of the Original Indenture provide that the Company and the Trustee may from time to time enter into one or
more indentures supplemental thereto to establish the form or terms of Securities of a new series; 
 WHEREAS, Sections 9.01(6) and
9.01(7) of the Original Indenture permit the execution of supplemental indentures without the consent of any Holders to add to the covenants of the Company for the benefit of, and to add any additional Events of Default with respect to, all or any
series of Securities; 
 WHEREAS, Section 9.01(8) of the Original Indenture permits the execution of supplemental indentures
without the consent of any Holders to change or eliminate any of the provisions of the Indenture; provided that such change or elimination does not adversely affect in any material respect any outstanding Security of any series created prior
to the execution of such supplemental indenture; 
 WHEREAS, the Company desires to issue 7.50% Senior Notes due 2020, a new
series of Securities the issuance of which was authorized by or pursuant to resolution of the Board of Directors of the Company, which series of Securities shall, for the avoidance of doubt, be a separate series from the 7.50% Senior Notes due 2020
initially issued on September 10, 2012 under the Original Indenture as amended by the Tenth Supplemental Indenture dated as of such date; 

WHEREAS, the Company, pursuant to the foregoing authority, proposes in and by this Fifteenth Supplemental Indenture to supplement and amend
the Original Indenture insofar as it will apply only to Notes in certain respects; and 
 WHEREAS, all things necessary have been done to
make the Notes, when executed by the Company and authenticated and delivered hereunder and duly issued by the Company, the valid obligations of the Company, and to make this Fifteenth Supplemental Indenture a valid agreement of the Company and of
the Subsidiary Guarantors, in accordance with their and its terms; and 

 WHEREAS, all things necessary have been done to make the Guarantee of each Subsidiary Guarantor,
when the Notes are executed by the Company and authenticated and delivered hereunder and duly issued by the Company, the valid obligation of such Subsidiary Guarantee, and to make this Fifteenth Supplemental Indenture a valid agreement of the
Subsidiary Guarantors, in accordance with its terms. 
 NOW, THEREFORE: 

In consideration of the premises provided for herein, the Company, the Subsidiary Guarantors and the Trustee mutually covenant and agree for
the equal and proportionate benefit of all Holders of the Notes as follows: 
 ARTICLE ONE 

THE NOTES 
  

	SECTION 101	Designation of Notes; Establishment of Form. 

 There shall be a series of Securities
designated “7.50% Senior Notes due 2020” of the Company. References herein to the “Notes” shall mean the Initial Notes and any Additional Notes, taken together as a single series of Securities. For the avoidance of doubt, the
Notes shall be a separate series of Securities from the 7.50% Senior Notes due 2020 initially issued on the Original 7.50% Notes Issuance Date under the Original 7.50% Indenture. The Notes shall be issued subject to the terms of the Appendix hereto,
and, in addition to the legends specified therein, may have such letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may,
consistently herewith, be determined by the officers of the Company executing such Notes, as evidenced by their execution of the Notes. 

All of the Notes will initially be issued, as further described in the Appendix hereto, in permanent global form, substantially in the form
set forth in Annex A (the “Global Securities”), which is incorporated into and shall be deemed a part of this Fifteenth Supplemental Indenture, with such appropriate insertions, omissions, substitutions and other variations as are required
or permitted by the Indenture. Each Global Security shall represent such of the Notes as shall be specified therein and shall provide that it shall represent the aggregate amount of Outstanding Notes from time to time endorsed thereon and that the
aggregate amount of Outstanding Notes represented thereby may from time to time be reduced to reflect exchanges and redemptions. Any endorsement of a Global Security to reflect the amount, or any increase or decrease in the amount, of Outstanding
Notes represented thereby shall be made by the Trustee in accordance with written instructions or such other written form of instructions as is customary for the Depositary, from the Depositary or its nominee on behalf of any Person having the
beneficial interest in the Global Security. 
 The Company initially appoints The Depository Trust Company to act as Depositary with respect
to the Global Securities. 
 The Company initially appoints the Trustee to act as Registrar and Paying Agent with respect to the Notes. 

  
 2 

	SECTION 102	Amount. 

 The Notes may be issued in unlimited aggregate principal amount, subject to the
requirements of the Indenture. The Trustee shall authenticate and deliver Notes for original issue on the Initial Issuance Date in an aggregate Principal Amount of up to $300,000,000 upon Company Order without any further action by the Company. Upon
Company Request, the Trustee shall authenticate and deliver Additional Notes in accordance with Section 2.18 of the Indenture. 
  

	SECTION 103	Interest. 

 The Notes shall bear interest at the rate set forth under the caption
“Interest” in the Notes. Interest on the Notes shall be payable to the persons in whose name the Notes are registered at the close of business on the Regular Record Date for such interest payment. Interest on the Notes shall accrue on the
Notes from the date specified in the Notes. The Interest Payment Dates on which interest on the Notes shall be payable are March 15 and September 15, commencing on March 15, 2015. The Regular Record Dates for the interest payable on
the Notes on any Interest Payment Date shall be March 1 or September 1, as the case may be, immediately preceding such Interest Payment Date. 
  

	SECTION 104	Denominations. 

 The Notes shall be in fully registered form without coupons in
denominations of $2,000 of Principal Amount and integral multiples of $1,000 in excess of $2,000. 
  

	SECTION 105	Place of Payment. 

 The Place of Payment for the Notes and the place or
places where the principal of and interest on the Notes shall be payable, the Notes may be surrendered for registration of transfer, the Notes may be surrendered for exchange, repurchase or redemption and where notices may be given to the Company in
respect of the Notes is at the office or agency of the Trustee in Dallas, Texas; provided that payment of interest may be made at the option of the Company by check mailed to the address of the person entitled thereto as such address shall
appear in the register of Securities; provided, further if a Holder has given wire transfer instructions to the Company, the Company will pay all principal, interest and premium, if any, on that Holder’s Notes in accordance with
such instructions by wire transfer of immediately available funds to the accounts in the United States specified by the Holder of such Notes. 
  

	SECTION 106	Redemption. 

 There shall be no sinking fund for the retirement of the Notes. 

The Company, at its option, may redeem the Notes in accordance with the provisions of and at the Redemption Prices set forth in accordance
with the provisions of the Indenture, including, without limitation, Article III of the Original Indenture. 

  
 3 

	SECTION 107	Maturity. 

 The date on which the principal of the Notes is payable, unless accelerated
pursuant to the Indenture, shall be September 15, 2020. 
  

	SECTION 108	Repurchase. 

 The Notes shall be repurchased by the Company in accordance with the
provisions and at the Repurchase Prices set forth under the caption “Repurchase by the Company at the Option of Holder” in the Notes and in accordance with the provisions of the Indenture, including, without limitation, Sections 4.12 and
4.16 of the Indenture. 
  

	SECTION 109	[Reserved]. 

  

	SECTION 110	Guarantee. 

 The Notes shall be entitled to the benefits of a Guarantee by each of the
Subsidiary Guarantors as provided in Article X of the Original Indenture, as amended hereby. 
  

	SECTION 111	Other Terms of Notes. 

 Without limiting the foregoing provisions of this Article One,
the terms of the Notes shall be as set forth in the form of the Note set forth in Annex A hereto and as provided in the Indenture. 
 ARTICLE
TWO 
 AMENDMENTS TO THE INDENTURE 

The amendments contained herein shall apply to the Notes only and not to any other series of Security issued under the Indenture and any
covenants provided herein are expressly being included solely for the benefit of the Notes. These amendments shall be effective for so long as there remain any Notes Outstanding. 

 

	SECTION 201	Definitions. 

 Section 1.01 of the Original Indenture is amended by inserting or
restating, as the case may be, in their appropriate alphabetical position, the following definitions: 
 “Additional
Assets” means: 
 (1) any assets used or useful in the Oil and Gas Business, other than Indebtedness or Capital Stock;

 (2) the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of the acquisition of such Capital
Stock by the Company or any of its Restricted Subsidiaries; or 
 (3) Capital Stock constituting a minority interest in any
Person that at such time is a Restricted Subsidiary; 

  
 4 

 provided, however, that any such Restricted Subsidiary described in clause (2) or
(3) is primarily engaged in the Oil and Gas Business. 
 “Additional Interest” means all additional interest
then owing pursuant to the Registration Rights Agreement referred to in clause (1) of the definition of “Registration Rights Agreement” in the Appendix hereto. Unless the context indicates otherwise, all references to
“interest” in this Indenture or the Notes shall be deemed to include any Additional Interest to the extent then applicable. 

“Additional Notes” means, subject to the Company’s compliance with Section 4.11, 7.50% Senior Notes due
2020 issued from time to time after the Initial Issuance Date under the terms of this Indenture (other than pursuant to Section 2.08, 2.09, 2.12, 3.07, 4.12, 4.16 or 9.05 of this Indenture or Sections 2.03 or 2.04 of the Appendix and other than
exchange notes issued pursuant to an exchange offer for Initial Notes outstanding under this Indenture). 
 “Adjusted
Consolidated Net Tangible Assets” of a specified Person means (without duplication), as of the date of determination: 

(1) the sum of: 

(a) discounted future net revenue from proved crude oil and natural gas reserves of such Person and its Restricted
Subsidiaries calculated in accordance with SEC guidelines before any state or federal or other income taxes, as estimated by the Company in a reserve report prepared as of the end of the fiscal year of such Person for which audited financial
statements are available, as increased by, as of the date of determination, the estimated discounted future net revenue from: 

(i) estimated proved crude oil and natural gas reserves of such Person and its Restricted Subsidiaries attributable to
acquisitions consummated since the date of such reserve report, which reserves were not reflected in such reserve report, and 

(ii) estimated crude oil and natural gas reserves of such Person and its Restricted Subsidiaries attributable to extensions,
discoveries and other additions and upward revisions of estimates of proved crude oil and natural gas reserves (including previously estimated development costs incurred during the period and the accretion of discount since the prior period end) due
to exploration, development or exploitation, production or other activities which would, in accordance with standard industry practice, cause such revisions, in the case of clauses (i) and (ii) calculated in accordance with SEC guidelines
before any state or federal or other income taxes, 

  
 5 

 and decreased by, as of the date of determination, the estimated discounted future net revenue
attributable to: 
 (A) estimated proved crude oil and natural gas reserves of such Person and its Restricted Subsidiaries
reflected in such reserve report produced or disposed of since the date of such reserve report, and 
 (B) reductions in the
estimated crude oil and natural gas reserves of such Person and its Restricted Subsidiaries reflected in such reserve report since the date of such reserve report due to changes in geological conditions or other factors which would, in accordance
with standard industry practice, cause such revisions, in the case of clauses (A) and (B) calculated in accordance with SEC guidelines before any state or federal or other income taxes; 

provided, however, that, in the case of each of the determinations made pursuant to clauses (i), (ii), (A) and (B) above, such
increases and decreases shall be estimated by the Company’s petroleum engineers or any independent petroleum engineers engaged by the Company for that purpose; 

(b) the capitalized costs that are attributable to crude oil and natural gas properties of such Person and its Restricted
Subsidiaries to which no proved crude oil and natural gas reserves are attributable, based on such Person’s books and records as of a date no earlier than the date of such Person’s latest available annual or quarterly financial statements;

 (c) the Net Working Capital of such Person as of a date no earlier than the date of such Person’s latest available
annual or quarterly financial statements; and 
 (d) the greater of: 

(i) the net book value of other tangible assets of such Person and its Restricted Subsidiaries as of a date no earlier than
the date of such Person’s latest available annual or quarterly financial statements, and 
 (ii) the appraised value,
as estimated by independent appraisers, of other tangible assets of such Person and its Restricted Subsidiaries as of a date no earlier than the date of such Person’s latest available annual or quarterly financial statements (provided that such
Person shall not be required to obtain such an appraisal of such assets if no such appraisal has been performed); 
 minus 

(2) the sum of: 

(a) Minority Interests; 

  
 6 

 (b) to the extent not otherwise taken into account in determining Adjusted
Consolidated Net Tangible Assets, any net natural gas balancing liabilities of such Person and its Restricted Subsidiaries reflected in such Person’s latest audited financial statements; 

(c) to the extent included in clause (1)(a) above, the discounted future net revenue, calculated in accordance with SEC
guidelines (utilizing the prices utilized in such Person’s year end reserve report) before any state or federal or other income taxes, attributable to reserves subject to participation interests, overriding royalty interests or other interests
of third parties, pursuant to participation, partnership, vendor financing or other agreements then in effect, or which otherwise are required to be delivered to third parties; 

(d) to the extent included in clause (1)(a) above, the discounted future net revenue calculated in accordance with SEC
guidelines (utilizing the prices utilized in such Person’s year end reserve report) before any state or federal or other income taxes, attributable to reserves that are required to be delivered to third parties to fully satisfy the obligations
of such Person and its Restricted Subsidiaries with respect to Volumetric Production Payments on the schedules specified with respect thereto; and 

(e) the discounted future net revenue, calculated in accordance with SEC guidelines before any state or federal or other
income taxes, attributable to reserves subject to Dollar-Denominated Production Payments that, based on the estimates of production and price assumptions included in determining the discounted future net revenue specified in clause (1)(a)
above, would be necessary to satisfy fully the obligations of such Person and its Restricted Subsidiaries with respect to Dollar-Denominated Production Payments on the schedules specified with respect thereto. 

If the Company changes its method of accounting from the full cost method to the successful efforts method or a similar method of accounting,
“Adjusted Consolidated Net Tangible Assets” of the Company will continue to be calculated as if the Company were still using the full cost method of accounting. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or
under direct or indirect common control with such specified Person. For purposes of this definition, “control,” as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction
of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. For purposes of this definition, the terms “controlling,” “controlled by” and “under common control
with” have correlative meanings. 

  
 7 

 “Applicable Law,” except as the context may otherwise require, means
all applicable laws, rules, regulations, ordinances, judgments, decrees, injunctions, writs and orders of any court or governmental or congressional agency or authority and rules, regulations, orders, licenses and permits of any United States
federal, state, municipal, regional, or other governmental body, instrumentality, agency or authority. 
 “Asset
Sale” means: 
 (1) the sale, lease, conveyance or other disposition of any assets (including by way of a Production
Payment or a Sale Leaseback Transaction or mergers, consolidations or otherwise); provided, however, that the disposition of all or substantially all of the assets of the Company and its Restricted Subsidiaries taken as a whole will not be an
“Asset Sale,” but will be governed by the provisions of Section 4.16 or the provisions of Section 5.01 or both, and not by the provisions of Section 4.12; and 

(2) the issuance of Equity Interests in any of the Company’s Restricted Subsidiaries or the sale of Equity Interests in
any of its Restricted Subsidiaries (other than directors’ qualifying shares or shares required by Applicable Law to be held by a Person other than the Company or a Restricted Subsidiary of the Company). 

Notwithstanding the preceding, the following items will not be deemed to be Asset Sales: 

(1) any single transaction or series of related transactions that involves properties or assets having a Fair Market Value of
less than the greater of (i) $10.0 million and (ii) 1.0% of the Company’s Adjusted Consolidated Net Tangible Assets determined as of the date of such transaction; 

(2) a disposition of assets between or among any of the Company and its Restricted Subsidiaries; 

(3) an issuance or sale of Equity Interests by a Restricted Subsidiary to the Company or to another Restricted Subsidiary; 

(4) any disposition, abandonment, relinquishment or expiration of equipment, inventory, products, accounts receivable or other
assets in the ordinary course of business; 
 (5) the disposition of cash or Cash Equivalents, Hedging Contracts or other
financial instruments in the ordinary course of business; 
 (6) a Restricted Payment that is permitted by Section 4.09
or a Permitted Investment (or a disposition that would constitute a Restricted Payment but for an exclusion from the definition thereof) including the issuance or sale of Equity Interests or the sale, lease or other disposition of products,
services, equipment, inventory, accounts receivable or other assets pursuant to any such Restricted Payment or Permitted Investment; 

  
 8 

 (7) the farm-out, lease or sublease of developed or undeveloped crude oil or
natural gas properties owned or held by the Company or any of its Restricted Subsidiaries in the ordinary course of business or in exchange for crude oil and natural gas properties or interests owned or held by another Person; 

(8) (i) any trade or exchange by the Company or any of its Restricted Subsidiaries of Hydrocarbon properties or other
properties or assets for Hydrocarbon properties or other properties or assets owned or held by one or more other Persons, and (ii) any transfer or sale of assets, or lease, assignment or sublease of any real or personal property, (A) in
exchange for services (including in connection with any outsourcing arrangements), (B) in exchange for such transferee, lessee or assignee (or an Affiliate thereof) agreeing to pay all or a portion of the costs and expenses related to the
exploration, development, completion and/or production (and related activities) of properties of the Company or any Restricted Subsidiary, or (C) in exchange for properties or assets satisfying the requirements of clause (i) above, or any
combination of clauses (A), (B) or (C) (clauses (A), (B) and (C) being referred to herein as a “carry”); provided that (except in the case of land purchase option arrangements granted by or to the Company or any
Restricted Subsidiary of the Company) the Fair Market Value of the properties or assets traded, exchanged, transferred, sold, leased, assigned or subleased by the Company or such Restricted Subsidiary (together with any cash and Cash Equivalents) is
reasonably equivalent or of less market value to the Fair Market Value of the properties, assets, services or carry (together with any cash and Cash Equivalents) expected to be received by the Company or such Restricted Subsidiary, as determined in
good faith by the Company, and provided further that any cash received must be applied in accordance with the provisions of Section 4.12; 

(9) the creation or perfection of a Lien (but not, except to the extent contemplated in clause (10) below, the sale or
other disposition of the assets subject to such Lien); 
 (10) the creation or perfection of a Permitted Lien and the
exercise by any Person in whose favor a Permitted Lien is granted of any of its rights in respect of that Permitted Lien; 

(11) a surrender or waiver of contract rights or the settlement, release or surrender of contract, tort or other claims of any
kind; 
 (12) the licensing or sublicensing of intellectual property or other general intangibles in the ordinary course of
business to the extent that such license does not prohibit the licensor from using the intellectual property and licenses, leases or subleases of other property; 

  
 9 

 (13) the disposition of oil and natural gas properties in connection with tax
credit transactions complying with Section 45K of the Code or any successor or analogous provisions of the Code, provided that the sale or other disposition is for not less than the Fair Market Value of such oil and natural gas properties, as
determined in good faith by the Company; 
 (14) the transfer of property received in settlement of debts owing to such
Person as a result of foreclosure, perfection or enforcement of any Lien or debt, which debts were owing to such Person in the ordinary course of its business, 

(15) any Production Payments and Reserve Sales, provided that any such Production Payments and Reserve Sales
(other than incentive compensation programs on terms that are reasonably customary in the Oil and Gas Business for geologists, geophysicists and other providers of technical services to the Company or a Restricted Subsidiary of the Company), shall
have been created, incurred, issued, assumed or guaranteed in connection with the acquisition or financing of, and within 60 days after the acquisition of, the property that is subject thereto; 

(16) the sale or other disposition (whether or not in the ordinary course of business) of oil and gas properties,
provided at the time of such sale or other disposition such properties do not have associated with them any proved reserves, and provided further that the sale or other disposition is for not less than the Fair Market Value of such oil
and gas properties, as determined in good faith by the Company; 
 (17) any sale or other disposition of Equity
Interests in, or other ownership interests in or assets or property, including Indebtedness, or other securities of, an Unrestricted Subsidiary; 

(18) any disposition of Equity Interests of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a
Person (other than the Company or a Restricted Subsidiary of the Company) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with such
acquisition), made as part of such acquisition and in each case comprising all or a portion of the consideration in respect of such sale or acquisition; and 

(19) the sale and leaseback of any asset within 180 days of the acquisition thereof. 

“Attributable Debt” in respect of a Sale Leaseback Transaction means, at the time of determination, the present value
of the obligation of the lessee for net rental payments during the remaining term of the lease included in such Sale Leaseback Transaction including any period for which such lease has been extended or may, at the option of the lessor, be extended.
Such present value shall be calculated using a discount rate equal to 

  
 10 

 
the rate of interest implicit in such transaction, determined in accordance with GAAP. As used in the preceding sentence, the “net rental payments” under any lease for any period shall
mean the sum of rental and other payments required to be paid with respect to such period by the lessee thereunder, excluding any amounts required to be paid by such lessee on account of maintenance and repairs, insurance, taxes, assessments, water
rates or similar charges. In the case of any lease that is terminable by the lessee upon payment of penalty, such net rental payment shall also include the amount of such 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. 
 “Avista” means Avista Capital Holdings,
LP, a Delaware limited partnership, and its successors and permitted assigns. 
 “Avista Joint Venture” means
(a) that certain joint venture between Carrizo (Marcellus) LLC (or other wholly owned Subsidiaries of the Company) Avista Capital Partners II, L.P. and ACP II Marcellus LLC pursuant to that certain Participation Agreement dated as of
November 3, 2008 and such other documents delivered in connection therewith, in each case as amended or supplemented as of the Original 7.50% Notes Issuance Date, as the same may be amended, modified or supplemented from time to time (provided
that such further amendment, modification or supplement does not materially and adversely affect the rights of any Holder of Notes) or (b) that certain joint venture between Carrizo (Utica) LLC (or other wholly owned Subsidiaries of the
Company), Avista Capital Partners II, L.P., Avista Capital Partners III, L.P., ACP II Marcellus LLC and ACP III Utica LLC pursuant to that certain Participation Agreement dated as of September 27, 2011 and such other documents delivered in
connection therewith, as the same may be amended, modified or supplemented from time to time (provided that such amendment, modification or supplement does not materially and adversely affect the rights of any Holder of Notes under the Indenture).

 “Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act,
except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to have beneficial ownership of all securities that
such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only upon the occurrence of a subsequent condition. The terms “Beneficially Owns”
and “Beneficially Owned” have correlative meanings. 
 “Board of Directors” means: 

(1) with respect to the Company, the board of directors of the Company or any authorized committee thereof; and 

(2) with respect to any other Person, the board or committee of such Person serving a similar function. 

  
 11 

 “Board Resolution” means a copy of a resolution certified by the
Secretary or an Assistant Secretary of the applicable Person to have been duly adopted by the Board of Directors of such Person and to be in full force and effect on the date of such certification, and delivered to the Trustee. 

“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, 
 but
excluding from all of the foregoing any debt securities convertible into Capital Stock, regardless of whether such debt securities include any right of participation with Capital Stock. 

“Cash Equivalents” means: 

(1) United States dollars; 

(2) securities issued or directly and fully guaranteed or insured by the United States government or any agency or
instrumentality of the United States government (provided that the full faith and credit of the United States is pledged in support of those securities) having maturities of not more than one year from the date of acquisition; 

(3) marketable general obligations issued by any state of the United States of America or any political subdivision of any such
state or any public instrumentality thereof maturing within one year from the date of acquisition thereof and, at the time of acquisition thereof, having a credit rating of “A” or better from either S&P or Moody’s; 

  
 12 

 (4) certificates of deposit, demand deposits and eurodollar time deposits with
maturities of one year or less from the date of acquisition, bankers’ acceptances with maturities not exceeding one year and overnight bank deposits, in each case, with any domestic commercial bank having capital and surplus in excess of $500.0
million; 
 (5) repurchase obligations with a term of not more than seven days for underlying securities of the types
described in clauses (2), (3) and (4) above entered into with any financial institution meeting the qualifications specified in clause (4) above; 

(6) commercial paper having one of the two highest ratings obtainable from Moody’s or S&P and, in each case, maturing
within one year after the date of acquisition; and 
 (7) money market funds at least 95% of the assets of which constitute
Cash Equivalents of the kinds described in clauses (1) through (6) of this definition. 
 “Change of
Control” means the occurrence of any of the following: 
 (1) the direct or indirect sale, lease, transfer, conveyance
or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets (including Capital Stock of the Restricted Subsidiaries) of the Company and its Restricted
Subsidiaries taken as a whole, or a Successor Parent of the Company and its Restricted Subsidiaries taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) other than a Permitted Holder; 

(2) the adoption by the shareholders of the Company of a plan relating to the liquidation or dissolution of the Company; 

(3) the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which
is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act), other than Permitted Holders, becomes the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock of the Company, or any
Successor Parent of the Company, measured by voting power rather than number of shares, units or the like; provided that no Change of Control shall be deemed to occur by reason of the Company becoming a Subsidiary of any Successor Parent;
or 
 (4) the first day on which a majority of the members of the Board of Directors of the Company or any Successor
Parent of the Company are not Continuing Directors. 
 “Code” means the Internal Revenue Code of 1986, as amended
from time to time, and any successor statute. 

  
 13 

 “Consolidated Cash Flow” means, with respect to any specified Person
for any period, the Consolidated Net Income of such Person for such period plus, without duplication: 
 (1) an amount equal
to any net loss realized by such Person or any of its Restricted Subsidiaries in connection with an Asset Sale, to the extent such losses were deducted in computing such Consolidated Net Income; plus 

(2) provision for taxes based on income or profits of such Person and its Restricted Subsidiaries for such period, to the
extent that such provision for taxes was deducted in computing such Consolidated Net Income; plus 
 (3) the Fixed Charges of
such Person and its Restricted Subsidiaries for such period, to the extent that such Fixed Charges were deducted in computing such Consolidated Net Income; plus 

(4) depreciation, depletion, amortization (including amortization of intangibles but excluding amortization of prepaid cash
expenses that were paid in a prior period), impairment and other non-cash expenses (excluding any such non-cash expense to the extent that it represents an accrual of or reserve for cash expenses in any future period or amortization of a prepaid
cash expense that was paid in a prior period) of such Person and its Restricted Subsidiaries for such period to the extent that such depreciation, depletion, amortization, impairment and other non-cash expenses were deducted in computing such
Consolidated Net Income; plus 
 (5) unrealized non-cash losses resulting from foreign currency balance sheet adjustments
required by GAAP to the extent such losses were deducted in computing such Consolidated Net Income; plus 
 (6) all
extraordinary, unusual or non-recurring items of gain or loss, or revenue or expense; minus 
 (7) non-cash items increasing
such Consolidated Net Income for such period, other than items that were accrued in the ordinary course of business; and minus 

(8) to the extent increasing such Consolidated Net Income for such period, the sum of (a) the amount of deferred revenues
that are amortized during such period and are attributable to reserves that are subject to Volumetric Production Payments and (b) amounts recorded in accordance with GAAP as repayments of principal and interest pursuant to Dollar-Denominated
Production Payments; 
 in each case, on a consolidated basis and determined in accordance with GAAP. 

“Consolidated Net Income” means, with respect to any specified Person for any period, the aggregate of the Net Income
of such Person and its Restricted Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP, provided that: 

(1) the Net Income (but not loss) of any Person that is not a Restricted Subsidiary or that is accounted for by the equity
method of accounting will be included, but only to the extent of the amount of dividends or distributions paid in cash to the specified Person or a Restricted Subsidiary of the Person; 

  
 14 

 (2) the Net Income of any Restricted Subsidiary of the Company will be excluded
to the extent that the declaration or payment of dividends or similar distributions by that Restricted Subsidiary of that Net Income is not at the date of determination permitted without any prior governmental approval (that has not been obtained)
or, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders, partners or members;

 (3) the cumulative effect of a change in accounting principles will be excluded; 

(4) any gain (loss) realized upon the sale or other disposition of any property, plant or equipment of such Person or its
consolidated Restricted Subsidiaries (including pursuant to any sale or leaseback transaction) which is not sold or otherwise disposed of in the ordinary course of business and any gain (loss) realized upon the sale or other disposition of any
Capital Stock of any Person will be excluded; 
 (5) any asset impairment writedowns on oil and gas properties under GAAP or
SEC guidelines will be excluded; 
 (6) unrealized losses and gains under Hedging Contracts included in the determination of
Consolidated Net Income, including, without limitation, those resulting from the application of FASB ASC Topic 815, “Derivatives and Hedging,” will be excluded; 

(7) to the extent deducted in the calculation of Net Income, any non-cash or nonrecurring charges relating to any premium or
penalty paid, write off of deferred financing costs or other financial recapitalization charges in connection with redeeming or retiring any Indebtedness prior to its Stated Maturity will be excluded; 

(8) items classified as extraordinary or nonrecurring gains and losses (less all fees and expenses related thereto) and the
related tax effects, in each case according to GAAP, will be excluded; and 
 (9) income resulting from transfers of assets
(other than cash) between such Person or any of its Restricted Subsidiaries, on the one hand, and an Unrestricted Subsidiary of such Person, on the other hand, will be excluded. 

  
 15 

 “Consolidated Net Worth” means, with respect to any specified Person as
of any date, the sum of: 
 (1) the consolidated equity of the common shareholders of, or the consolidated capital of the
unitholders of, such Person and its consolidated Subsidiaries as of such date; plus 
 (2) the respective amounts reported on
such Person’s balance sheet as of such date with respect to any series of preferred stock (other than Disqualified Stock) that by its terms is not entitled to the payment of dividends unless such dividends may be declared and paid only out of
net earnings in respect of the year of such declaration and payment, but only to the extent of any cash received by such Person upon issuance of such preferred stock. 

“Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the Company
who: 
 (1) was a member of such Board of Directors on the Original 7.50% Notes Issuance Date; or 

(2) was nominated for election or elected or appointed to such Board of Directors with the approval of a majority of the
Continuing Directors who were members of such Board at the time of such nomination, election or appointment. 
 “Credit
Agreement” means that certain Credit Agreement, dated as of January 27, 2011, among the Company, Wells Fargo Bank, National Association, as Administrative Agent, and the lenders party thereto, including any related notes, guarantees,
collateral documents, instruments and agreements executed in connection therewith, in each case as amended, restated, modified, renewed, refunded, replaced or refinanced from time to time. 

“Credit Facilities” means one or more debt facilities (including, without limitation, the Credit Agreement),
commercial paper facilities or Debt Issuances, in each case with banks or other institutional lenders or institutional investors providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to
such lenders or to special purpose entities formed to borrow from such lenders against such receivables), letters of credit or other borrowings or Debt Issuances, in each case, as amended, restated, modified, renewed, refunded, replaced or
refinanced (including refinancing with any capital markets transaction) in whole or in part from time to time. 

“Custodian” means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law. 

“Customary Recourse Exceptions” means, with respect to any Non-Recourse Debt of an Unrestricted Subsidiary,
exclusions from the exculpation provisions with respect to such Non-Recourse Debt for the voluntary bankruptcy of such Unrestricted Subsidiary, fraud, misapplication of cash, environmental claims, waste, willful

  
 16 

 
destruction, and other circumstances customarily excluded by lenders from exculpation provisions and/or included in separate indemnification agreements in non-recourse financings. 

“Debt Issuance” means, with respect to the Company or any of its Restricted Subsidiaries, one or more issuances after
the Original 7.50% Notes Issuance Date of Indebtedness evidenced by notes, debentures, bonds or other similar securities or instruments. 

“De Minimis Guaranteed Amount” means a principal amount of Indebtedness that does not exceed $5.0 million. 

“Disqualified Stock” means any Capital Stock that, by its terms (or by the terms of any security into which it
is convertible, or for which it is exchangeable, in each case at the option of the holder of the Capital Stock), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or
redeemable at the option of the holder of the Capital Stock, in whole or in part, on or prior to the date that is 91 days after the earlier of the final stated maturity date of the Notes or the date the Notes are no longer outstanding;
provided that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such date shall be deemed to be Disqualified
Stock; provided, further, that if such Capital Stock is issued to any employee or to any plan for the benefit of employees of the Company or its Subsidiaries or by any such plan to such employees, such Capital Stock shall not constitute
Disqualified Stock solely because it may be required to be repurchased by the Company in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s termination, death or disability; provided,
further, that any class of Capital Stock of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of Capital Stock that is not Disqualified Stock shall not be deemed to be Disqualified Stock.
Notwithstanding the preceding sentence, any Capital Stock that would constitute Disqualified Stock solely because the holders of the Capital Stock have the right to require the Company to repurchase or redeem such Capital Stock upon the occurrence
of a change of control or an asset sale will not constitute Disqualified Stock if (x) the terms of such Capital Stock provide that the Company may not repurchase or redeem any such Capital Stock pursuant to such provisions unless such
repurchase or redemption complies with Section 4.09 or (y) the terms of such Capital Stock provide that the Company may not repurchase or redeem any such Capital Stock pursuant to such provisions prior to the Company’s purchase of the
Notes as is required to be purchased pursuant to the terms of this Indenture. The amount (or principal amount) of Disqualified Stock deemed to be outstanding at any time for purposes of this Indenture will be the maximum amount that the Company and
its Restricted Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions of, such Disqualified Stock, exclusive of accrued dividends. 

“Dollar-Denominated Production Payments” means production payment obligations recorded as liabilities in accordance
with GAAP, together with all undertakings and obligations in connection therewith. 

  
 17 

 “Domestic Subsidiary” means any Restricted Subsidiary of the Company
that was formed under the laws of the United States or any state of the United States or the District of Columbia. 

“Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but
excluding any debt security that is convertible into, or exchangeable for, Capital Stock). 
 “Equity Offering”
means any public or private sale of Capital Stock (other than Disqualified Stock) made for cash on a primary basis by the Company after the Original 7.50% Notes Issuance Date. 

“Existing Indebtedness” means the aggregate principal amount of Indebtedness of the Company and its Restricted
Subsidiaries (other than Indebtedness under the Credit Agreement and intercompany Indebtedness) in existence on the Original 7.50% Notes Issuance Date, until such amounts are repaid. 

“Fair Market Value” means, with respect to any asset, the sale value that would be obtained in an arm’s-length
free market transaction between an informed and willing seller under no compulsion to sell and an informed and willing buyer under no compulsion to buy, determined on the date of contractually agreeing to such sale, or in circumstances in which the
Company or a Restricted Subsidiary of the Company grants a third party the right to purchase an asset, the date of such grant. 

“Fixed Charge Coverage Ratio” means with respect to any specified Person for any four-quarter reference period, the
ratio of the Consolidated Cash Flow of such Person for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases,
redeems, defeases or otherwise discharges any Indebtedness (other than ordinary working capital borrowings) or issues, repurchases or redeems preferred stock subsequent to the commencement of the applicable four-quarter reference period and on or
prior to the date on which the event for which the calculation of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such incurrence,
assumption, guarantee, repayment, repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase or redemption of preferred stock, and the use of the proceeds therefrom, as if the same had occurred at the
beginning of the applicable four-quarter reference period. 
 In addition, for purposes of calculating the Fixed Charge
Coverage Ratio: 
 (1) acquisitions that have been made by the specified Person or any of its Restricted Subsidiaries,
including through mergers, consolidations or otherwise (including acquisitions of assets used or useful in the Oil and Gas Business), or any Person or any of its Restricted Subsidiaries acquired by the specified Person or any of its Restricted
Subsidiaries, and including in each case any related financing transactions and increases in ownership of Restricted Subsidiaries, 

  
 18 

 
during the applicable four-quarter reference period or subsequent to such reference period and on or prior to the Calculation Date, will be given pro forma effect as if they had occurred on the
first day of the four-quarter reference period, and the Consolidated Cash Flow for such reference period will be calculated giving pro forma effect to any expense and cost reductions or synergies that have occurred or are reasonably expected to
occur, in the reasonable judgment of the chief financial or accounting officer of the Company (provided those cost savings or operating improvements could then be reflected in pro forma financial statements in accordance with Regulation S-X
promulgated under the Securities Act or any other regulation or policy of the SEC related thereto); 
 (2) the Consolidated
Cash Flow attributable to discontinued operations, as determined in accordance with GAAP, and operations or businesses (and ownership interests therein) disposed of prior to the Calculation Date, will be excluded; 

(3) the Fixed Charges attributable to discontinued operations, as determined in accordance with GAAP, and operations or
businesses (and ownership interests therein) disposed of prior to the Calculation Date, will be excluded, but only to the extent that the obligations giving rise to such Fixed Charges will not be obligations of the specified Person or any of its
Restricted Subsidiaries following the Calculation Date; 
 (4) any Person that is a Restricted Subsidiary of the specified
Person on the Calculation Date will be deemed to have been a Restricted Subsidiary of the specified Person at all times during such four-quarter period; 

(5) any Person that is not a Restricted Subsidiary of the specified Person on the Calculation Date will be deemed not to have
been a Restricted Subsidiary of the specified Person at any time during such four-quarter period; and 
 (6) if any
Indebtedness bears a floating rate of interest, the interest expense on such Indebtedness will be calculated as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any obligations
arising under any Hedging Contract applicable to such Indebtedness if such Hedging Contract has a remaining term as at the Calculation Date in excess of 12 months). 

“Fixed Charges” means, with respect to any specified Person for any period, the sum, without duplication, of: 

(1) the consolidated interest expense of such Person and its Restricted Subsidiaries for such period, whether paid or accrued
(excluding any interest attributable to Dollar-Denominated Production Payments but including, without limitation, amortization of debt issuance costs and original issue discount, non-cash interest payments, the interest component of any deferred
payment 

  
 19 

 
obligations, the interest component of all payments associated with Capital Lease Obligations, imputed interest with respect to Attributable Debt, commissions, discounts and other fees and
charges incurred in respect of letter of credit or bankers’ acceptance financings), and net of the effect of all payments made or received pursuant to interest rate Hedging Contracts; plus 

(2) the consolidated interest expense of such Person and its Restricted Subsidiaries that was capitalized during such period;
plus 
 (3) any interest expense on Indebtedness of another Person that is guaranteed by such Person or one of its Restricted
Subsidiaries or secured by a Lien on assets of such Person or one of its Restricted Subsidiaries, whether or not such guarantee or Lien is called upon (other than a Lien of the type described in clause (9) of the definition of “Permitted
Liens”); plus 
 (4) all dividends on any Disqualified Stock or series of preferred securities of such Person or any of
its Restricted Subsidiaries, whether paid or accrued and whether or not in cash, other than dividends on Equity Interests payable solely in Equity Interests of the Company (other than Disqualified Stock) or to the Company or a Restricted Subsidiary
of the Company, 
 in each case, on a consolidated basis and in accordance with GAAP. 

“GAAP” means generally accepted accounting principles in the United States, as in effect on November 2, 2010.

 “guarantee” means a guarantee other than by endorsement of negotiable instruments for collection in the ordinary
course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or reimbursement agreements in respect thereof, of all or any part of any Indebtedness or entered into for
purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part). When used as a verb, “guarantee” has a correlative meaning.

 “Hedging Contracts” means, with respect to any specified Person: 

(1) interest rate swap agreements, interest rate cap agreements and interest rate collar agreements entered into with one of
more financial institutions and designed to protect the Person or any of its Restricted Subsidiaries entering into the agreement against fluctuations in interest rates, or to otherwise reduce the cost of borrowing of such Person or any of such
Restricted Subsidiaries, with respect to Indebtedness incurred; 
 (2) foreign exchange contracts and currency protection
agreements entered into with one of more financial institutions and designed to protect the Person or any of its Restricted Subsidiaries entering into the agreement against fluctuations in currency exchange rates; 

  
 20 

 (3) any commodity futures contract, commodity swap, commodity option, commodity
forward sale or other similar agreement or arrangement designed to protect against fluctuations in the price of Hydrocarbons used, produced, processed or sold by that Person or any of its Restricted Subsidiaries at the time; and 

(4) other agreements or arrangements designed to protect such Person or any of its Restricted Subsidiaries against fluctuations
in interest rates, commodity prices or currency exchange rates, 
 and in each case are entered into only in the normal course of business
and not for speculative purposes. 
 “Holder” or “Noteholder” means a Person in whose name a Note is
registered. 
 “Hydrocarbons” means crude oil, natural gas, casinghead gas, drip gasoline, natural gasoline,
condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and all constituents, elements or compounds thereof and products refined or processed therefrom. 

“Indebtedness” means, with respect to any specified Person: 

(1) any indebtedness of such Person, whether or not contingent in respect of borrowed money; 

(2) all obligations evidenced by bonds, notes, debentures or similar instruments or letters of credit (or reimbursement
agreements in respect thereof) (other than performance, surety and appeal bonds arising in the ordinary course of business); 

(3) all obligations in respect of bankers’ acceptances; 

(4) all Capital Lease Obligations or Attributable Debt in respect of Sale Leaseback Transactions; 

(5) all obligations representing the balance deferred and unpaid of the purchase price of any property (other than
(i) property purchased, and expense accruals and deferred compensation items arising in the ordinary course of business, (ii) obligations payable solely in Capital Stock that is not Disqualified Stock and (iii) purchase price
holdbacks in respect of a portion of the purchase price of an asset to satisfy warranty or other unperformed obligations of the respective seller); 

(6) all obligations under Hedging Contracts; and 

(7) with respect to Production Payments, any warranties or guarantees of production or payment by such Person with respect to
such Production Payment, but excluding other contractual obligations of such Person with respect to such Production Payment; 

  
 21 

 if and to the extent any of the preceding items (other than letters of credit and obligations
under Hedging Contracts) would appear as a liability upon a balance sheet of the specified Person prepared in accordance with GAAP. In addition, the term “Indebtedness” includes all Indebtedness of other Persons secured by a Lien on any
asset of the specified Person, whether or not such Indebtedness is assumed by the specified Person (provided that the amount of such Indebtedness will be the lesser of (a) the Fair Market Value of such asset at such date of determination and
(b) the amount of such Indebtedness of such other Person), and, to the extent not otherwise included, the guarantee by the specified Person of any Indebtedness of any other Person (including, with respect to any Production Payment, any
warranties or guarantees of production or payment by such Person with respect to such Production Payment, but excluding other contractual obligations of such Person with respect to such Production Payment). 

Notwithstanding the foregoing, the following shall not constitute or be deemed “Indebtedness”: 

(i) any indebtedness which has been defeased in accordance with GAAP or defeased pursuant to the deposit of cash or Cash
Equivalents (in an amount sufficient to satisfy all such indebtedness obligations at maturity or redemption, as applicable, and all payments of interest and premium, if any) in a trust or account created or pledged for the sole benefit of the
holders of such indebtedness, and subject to no other Liens, and the other applicable terms of the instrument governing such indebtedness; 

(ii) any obligation of a Person in respect of the balance deferred and unpaid of the purchase price of any property, a farm-in
agreement, joint venture, participation or similar arrangement whereby such Person agrees to pay all or a share of the exploration, development, completion or production or other expenses of an exploratory or development well or program (which
agreement may be subject to a maximum payment obligation, after which expenses are shared in accordance with the working or participation interest therein or in accordance with the agreement of the parties) or perform the drilling, completion or
other operation on such well or program, or transfer of overriding royalty interests or other interests in Hydrocarbon properties in exchange for an ownership interest in an oil or gas property; 

(iii) any obligations arising from agreements of a Person providing for indemnification, guarantees, adjustment of purchase
price, holdbacks, contingent payment obligations based on a final financial statement or performance of acquired or disposed of assets or similar obligations (other than guarantees of Indebtedness), in each case, incurred or assumed by such Person
in connection with the acquisition or disposition of assets (including through mergers, consolidations or otherwise); 

  
 22 

 (iv) subject to clause (7) above, any Dollar-Denominated Production Payments
or Volumetric Production Payments; 
 (v) any Lien of the type described in clause (9) of the definition of
“Permitted Liens;” 
 (vi) obligations with respect to letters of credit in support of trade obligations or
incurred in connection with public liability insurance, workers’ compensation, unemployment insurance, old-age pensions and other social security benefits other than in respect of employee benefit plans subject to the Employee Retirement Income
Security Act of 1974, as amended; 
 (vii) the obligations described in clause (13) of Section 4.09; 

(viii) the repayment or reimbursement obligations of the Company or any Restricted Subsidiary with respect to Customary
Recourse Exceptions shall not be considered Indebtedness unless and until an event or circumstance occurs that triggers the Company’s or such Restricted Subsidiary’s direct payment liability or reimbursement obligation (as opposed to
contingent or performance obligations) to the lender or other party to whom such obligation is actually owed, in which case the amount of such direct payment liability to such lender or other party shall, to the extent otherwise applicable,
constitute Indebtedness; and 
 (ix) in connection with the purchase by the Company or any Restricted Subsidiary of any
property, the term “Indebtedness” will exclude post-closing payment adjustments to which the seller may become entitled to the extent such payment is determined by a closing purchase price adjustment or such payment depends on the
performance of such property after the closing; provided, however, that, at the time of closing, the amount of any such payment is not determinable and, to the extent such payment at a later date becomes finally fixed and determined by the parties
to the purchase, the amount is paid within 30 days after such date. 
 The amount (or principal amount) of any Indebtedness
outstanding as of any date will be: 
 (1) the accreted value of the Indebtedness, in the case of any Indebtedness issued
with original issue discount; 
 (2) in the case of obligations under any Hedging Contracts, the termination value of the
agreement or arrangement giving rise to such obligations that would be payable by such Person at such date; and 
 (3) the
principal amount of the Indebtedness, together with any interest on the Indebtedness that is more than 30 days past due, in the case of any other Indebtedness. 

  
 23 

 The amount of Indebtedness of any Person at any date will be the outstanding
balance at such date of all unconditional obligations as described above and the maximum liability, upon the occurrence of the contingency giving rise to the obligation, of any contingent obligations at such date. 

“Initial Issuance Date” means October 30, 2014. 

“Initial Notes” means the Notes issued under this Indenture on the Initial Issuance Date, together with all other
Notes issued upon registration of transfer of, or in exchange for, such Notes. 
 “Investment Grade Rating” means a
rating equal to or higher than Baa3 (or the equivalent) by Moody’s and BBB- (or the equivalent) by S&P (or an equivalent rating by another nationally recognized rating agency if both of the two named rating agencies cease publishing ratings
of investments), in each case, with a stable or better outlook. 
 “Investments” means, with respect to any Person,
all direct or indirect investments by such Person in other Persons (including Affiliates) in the forms of loans, advances or extensions of credit (including guarantees or similar arrangements, but excluding (1) commission, travel and similar
advances to officers, directors, employees and consultants made in the ordinary course of business and (2) advances to Persons in the ordinary course of business that are recorded as accounts receivable on the balance sheet of the lender), or
capital contributions or purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities (excluding any interest in a crude oil or natural gas leasehold to the extent constituting a security under applicable
law), together with all items that are or would be classified as investments on a balance sheet of such Person prepared in accordance with GAAP. If the Company or any Restricted Subsidiary of the Company sells or otherwise disposes of any Equity
Interests of any direct or indirect Restricted Subsidiary of the Company such that, after giving effect to any such sale or disposition, such Person is no longer a Restricted Subsidiary of the Company, the Company will be deemed to have made an
Investment on the date of any such sale or disposition in an amount equal to the Fair Market Value of the Equity Interests of such Restricted Subsidiary not sold or disposed of in an amount determined as provided in the final paragraph of
Section 4.09. The acquisition by the Company or any Subsidiary of the Company of a Person that holds an Investment in a third Person will be deemed to be an Investment made by the Company or such Subsidiary in such third Person in an amount
equal to the Fair Market Value of the Investment held by the acquired Person in such third Person on the date of any such acquisition in an amount determined as provided in the final paragraph of Section 4.09. Except as otherwise provided in
this Indenture, the amount of an Investment will be determined at the time the Investment is made and without giving effect to subsequent changes in value or write-ups, write-downs or write-offs with respect to such Investment. 

“Joint Venture” means any Person that is not a direct or indirect Subsidiary of the Company in which the Company or
any of its Restricted Subsidiaries makes any Investment. 

  
 24 

 “Lien” means, with respect to any asset, any mortgage, lien, pledge,
charge, security interest or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under Applicable Law, including any conditional sale or other title retention agreement, or any lease in the nature
thereof, other than a precautionary financing statement respecting a lease not intended as a security agreement. 

“Make Whole Premium” means, with respect to a Note at any time, the excess, if any, of (a) the present value at
such time of (i) the Redemption Price of such Note at September 15, 2016 pursuant to Section 3.12(a) plus (ii) any required interest payments due on such Note through September 15, 2016 (except for currently accrued and
unpaid interest), computed using a discount rate equal to the Treasury Rate at such time plus 50 basis points, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months), over (b) the
principal amount of such Note. 
 “Measurement Date” means October 1, 2010. 

“Minority Interest” means the percentage interest represented by any shares of stock of any class of Capital Stock of
a Restricted Subsidiary of the Company that are not owned by the Company or a Restricted Subsidiary of the Company. 

“Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business thereof.

 “Net Income” means, with respect to any specified Person, the net income (loss) of such Person, determined in
accordance with GAAP and before any reduction in respect of preferred stock dividends, excluding, however: 
 (1) any gain
(but not loss), together with any related provision for taxes on such gain (but not loss), realized in connection with: (a) any Asset Sale; or (b) the disposition of any securities by such Person or any of its Restricted Subsidiaries or
the extinguishment of any Indebtedness of such Person or any of its Restricted Subsidiaries; and 
 (2) any extraordinary
gain (but not loss), together with any related provision for taxes on such extraordinary gain (but not loss). 
 “Net
Proceeds” means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in respect of any Asset Sale (including any cash payments received by way of deferred payment of principal pursuant to a note or
installment receivable or otherwise and net proceeds from the sale or other disposition of any securities received as consideration, but only as and when received, but excluding any other consideration received in the form of assumption by the
acquiring Person of Indebtedness or other obligations relating to the properties or assets that are the subject of such Asset Sale or received in any other non-cash form), net of: 

(1) the direct costs relating to such Asset Sale, including, without limitation, legal, accounting and investment banking fees,
title and recording tax expenses and sales commissions, and any relocation and severance expenses and charges of personnel incurred as a result of the Asset Sale, 

  
 25 

 (2) taxes paid or payable or required to be accrued as a liability under GAAP as
a result of the Asset Sale, in each case, after taking into account any available tax credits or deductions and any tax sharing arrangements, 

(3) amounts required to be applied to the repayment of Indebtedness secured by a Lien on the assets that were the subject of
such Asset Sale, or which must by its terms, or in order to obtain a necessary consent to such Asset Sale or by Applicable Law, be repaid out of the proceeds from such Asset Sale, 

(4) all distributions and other payments required to be made to minority interest holders in Restricted Subsidiaries or Joint
Ventures as a result of such Asset Sale, and 
 (5) any amounts to be set aside in any reserve established in accordance with
GAAP or any amount placed in escrow, in either case for adjustment in respect of the sale price of such assets or for liabilities associated with such Asset Sale and retained by the Company or any of its Restricted Subsidiaries until such time as
such reserve is reversed or such escrow arrangement is terminated, in which case Net Proceeds shall include only the amount of the reserve so reversed or the amount returned to the Company or its Restricted Subsidiaries from such escrow arrangement,
as the case may be. 
 “Net Working Capital” means (a) all current assets of the Company and its Restricted
Subsidiaries except current assets from commodity price risk management activities arising in the ordinary course of business, less (b) all current liabilities of the Company and its Restricted Subsidiaries, except current liabilities included
in Indebtedness and any current liabilities from commodity price risk management activities arising in the ordinary course of business, in each case as set forth in the consolidated financial statements of the Company prepared in accordance with
GAAP (excluding any adjustments made pursuant to FASB ASC Topic 815, “Derivatives and Hedging”). 

“Non-Recourse Debt” means Indebtedness: 

(1) as to which neither the Company nor any of its Restricted Subsidiaries (a) provides credit support of any kind
(including any undertaking, agreement or instrument that would constitute Indebtedness), (b) is directly or indirectly liable as a guarantor or otherwise, or (c) is the lender, except (i) pursuant to a Lien of the type permitted by
item (9) in the definition of “Permitted Lien,” (ii) as described in clause (13) of Section 4.09, (iii) Customary Recourse Exceptions and (iv) a guarantee by the Company or any Restricted Subsidiary of
Indebtedness of any Affiliate of the Company, in which case (unless the incurrence of such guarantee resulted in a Restricted Payment at the time of incurrence) the Company shall be deemed to have made a Restricted Payment at the time such Affiliate
is designated an Unrestricted Subsidiary, or at the time of such guarantee, if later, equal to the principal amount of any such Indebtedness to the extent guaranteed; and 

  
 26 

 (2) no default with respect to which (including any rights that the holders of
the Indebtedness may have to take enforcement action against an Unrestricted Subsidiary) would permit upon notice, lapse of time or both any holder of any other Indebtedness (other than the Notes and any guarantee permitted by clause (ii) or
(iv) in the preceding paragraph) of the Company or any of its Restricted Subsidiaries to declare a default on such other Indebtedness or cause the payment of the Indebtedness to be accelerated or payable prior to its Stated Maturity. 

For purposes of determining compliance with Section 4.11, in the event that any Non-Recourse Debt of any of the Company’s
Unrestricted Subsidiaries ceases to be Non-Recourse Debt of such Unrestricted Subsidiary, such event will be deemed to constitute an incurrence of Indebtedness by a Restricted Subsidiary of the Company. 

“Notes” has the meaning set forth in Section 101 of this Fifteenth Supplemental Indenture. 

“Obligations” means any principal, premium, if any, interest (including interest accruing on or after the filing of
any petition in bankruptcy or for reorganization, whether or not a claim for post-filing interest is allowed in such proceeding), penalties, fees, charges, expenses, indemnifications, reimbursement obligations, damages, guarantees, and other
liabilities or amounts payable under the documentation governing any Indebtedness or in respect thereto. 
 “Oil and Gas
Business” means: 
 (1) the acquisition, exploration, development, production, operation and disposition of interests in
oil, gas, liquid natural gas, carbon dioxide and other Hydrocarbon properties; 
 (2) the gathering, marketing, treating,
processing, refining, storage, distribution, selling and transporting of any production from such interests or properties; 

(3) any business relating to exploration for or development, production, treatment, processing, refining, storage,
transportation or marketing of, oil, gas and other minerals and products produced in association therewith; 
 (4) any
activity that is ancillary, complementary or incidental to or necessary or appropriate for the activities described in clauses (1) through (3) of this definition. 

“Original 7.50% Indenture” means the Original Indenture, as modified by the Tenth Supplemental Indenture thereto dated
September 10, 2012. 

  
 27 

 “Original 7.50% Notes Issuance Date” means September 10, 2012.

 “Outstanding,” when used with respect to the Notes, means, as of the date of determination, all Notes
theretofore authenticated and delivered under this Indenture, except: 
 (i) Notes theretofore cancelled by the Trustee or
delivered to the Trustee for cancellation; 
 (ii) Notes for whose payment, repurchase, redemption or defeasance money in the
necessary amount has been theretofore deposited with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying Agent) for the Holders of such
Notes; provided that, if such Notes are to be redeemed, notice of such redemption has been duly given pursuant to this Indenture or provision therefor satisfactory to the Trustee has been made; and 

(iii) Notes which have been cancelled pursuant to Section 2.13 or in exchange for or in lieu of which other Notes
have been authenticated and delivered pursuant to this Indenture, other than any such Notes in respect of which there shall have been presented to the Trustee proof satisfactory to it that such Notes are held by a bona fide purchaser in whose
hands such Notes are valid obligations of the Company;  
 provided, however, that in determining whether the Holders of
the requisite principal amount of the Outstanding Notes have given any request, demand, authorization, direction, notice, consent or waiver hereunder, Notes owned by the Company or any other obligor upon the Notes or any Affiliate of the Company or
of such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in relying upon any such request, demand, authorization, direction, notice, consent or waiver, only Notes
which the Trustee knows to be so owned shall be so disregarded. Notes so owned which have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee the pledgee’s right so to act with
respect to such Notes and that the pledgee is not the Company or any other obligor upon the Notes or any Affiliate of the Company or of such other obligor. 

“Pari Passu Indebtedness” means, with respect to any Excess Proceeds from Asset Sales, Indebtedness of the Company or
any Subsidiary Guarantor that ranks equally in right of payment with the Notes or the Subsidiary Guarantees, as the case may be, and the terms of which require the Company or any of its Restricted Subsidiaries to apply such Excess Proceeds to offer
to repurchase such Indebtedness. 
 “Permitted Acquisition Indebtedness” means Indebtedness or Disqualified Stock
of the Company or any of its Restricted Subsidiaries to the extent such Indebtedness or Disqualified Stock was Indebtedness or Disqualified Stock of any other Person existing at 

  
 28 

 
the time (a) such Person became a Restricted Subsidiary of the Company, (b) such Person was merged or consolidated with or into the Company or any of its Restricted Subsidiaries, or
(c) assets of such Person were acquired by the Company or any of its Restricted Subsidiaries and such Indebtedness was assumed in connection therewith (excluding any such Indebtedness that is repaid contemporaneously with such event), provided
that on the date such Person became a Restricted Subsidiary of the Company or the date such Person was merged or consolidated with or into the Company or any of its Restricted Subsidiaries, or on the date of such asset acquisition, as applicable,
either 
 (1) immediately after giving effect to such transaction on a pro forma basis as if the same had occurred at the
beginning of the applicable four-quarter period, the Company or such Restricted Subsidiary, as applicable, would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in the first
paragraph of Section 4.11, 
 (2) immediately after giving effect to such transaction on a pro forma basis as if the
same had occurred at the beginning of the applicable four-quarter period, the Fixed Charge Coverage Ratio of the Company would be equal to or greater than the Fixed Charge Coverage Ratio of the Company immediately prior to such transaction, or 

(3) immediately after giving effect to such transaction on a pro forma basis, the Consolidated Net Worth of the Company would
be greater than the Consolidated Net Worth of the Company immediately prior to such transaction. 
 “Permitted Business
Investments” means Investments made in the ordinary course of, and of a nature that is or shall have become customary in, the Oil and Gas Business, including investments or expenditures for actively exploring for, acquiring, developing,
producing, processing, gathering, marketing or transporting Hydrocarbons through agreements, transactions, interests or arrangements that permit one to share risk or costs, comply with regulatory requirements regarding local ownership or satisfy
other objectives customarily achieved through the conduct of the Oil and Gas Business jointly with third parties, including without limitation: 

(1) direct or indirect ownership of crude oil, natural gas, other related Hydrocarbon properties or any interest therein,
gathering, transportation, processing, storage or related systems, or ancillary real property interests and interests therein; and 

(2) the entry into operating agreements, joint ventures, processing agreements, working interests, royalty interests, mineral
leases, farm-in agreements, farm-out agreements, development agreements, production sharing agreements, area of mutual interest agreements, contracts for the sale, transportation or exchange of crude oil and natural gas and related Hydrocarbons and
minerals, unitization agreements, pooling arrangements, joint bidding agreements, service contracts, partnership agreements (whether general or limited), or other similar or customary agreements, transactions, properties,

  
 29 

 
interests or arrangements, and Investments and expenditures in connection therewith or pursuant thereto, in each case made or entered into in the ordinary course of the Oil and Gas Business,
excluding, however, Investments in corporations and publicly-traded limited partnerships. 
 “Permitted Holders”
means (1) the Company or any Subsidiary of the Company, as long as such Subsidiary of the Company remains a Subsidiary following completion of the transaction that would have constituted a Change of Control, had the transaction not been
effected with a Permitted Holder and (2) the directors, officers and other management employees of the Company that are shareholders of the Company on the Original 7.50% Notes Issuance Date and their respective Affiliates. 

“Permitted Investments” means: 

(1) any Investment in the Company or in a Restricted Subsidiary of the Company; 

(2) any Investment in cash and Cash Equivalents; 

(3) any Investment by the Company or any Restricted Subsidiary of the Company in a Person, if as a result of such Investment:

 (a) such Person becomes a Restricted Subsidiary of the Company; or 

(b) such Person is merged, consolidated or amalgamated with or into, or transfers or conveys substantially all of its assets
to, or is liquidated into, the Company or a Restricted Subsidiary of the Company; 
 (4) any Investment made as a result of
the receipt of non-cash consideration from, or consisting of any deferred portion of the sales price received by the Company or any Restricted Subsidiary in connection with: 

(a) an Asset Sale that was made pursuant to and in compliance with Section 4.12; 

(b) pursuant to clause (8) of the items deemed not to be Asset Sales under the definition of “Asset Sale;” 

(5) any Investment in any Person solely in exchange for, or with the net cash proceeds from a substantially concurrent
(i) contribution (other than from a Restricted Subsidiary of the Company) to the equity capital of the Company or (ii) issuance of, Equity Interests (other than Disqualified Stock) of the Company, with an issuance being deemed
substantially concurrent of such Investment occurring not more than 120 days after such issuance; provided that the amount of any such net cash proceeds will be excluded from clause (II) of Section 4.09; 

  
 30 

 (6) any Investments received in compromise or resolution of, or upon satisfaction
of judgments with respect to, (a) obligations of trade creditors or customers that were incurred in the ordinary course of business, including pursuant to any plan of reorganization or similar arrangement upon the bankruptcy or insolvency of
any trade creditor or customer, or (b) litigation, arbitration or other disputes (including pursuant to any bankruptcy or insolvency proceedings) with Persons who are not Affiliates; 

(7) Hedging Contracts; 

(8) guarantees by the Company or any of its Restricted Subsidiaries of operating leases (other than Capital Lease Obligations)
or of other obligations that do not constitute Indebtedness, in each case entered into by the Company or any Restricted Subsidiary of the Company in the ordinary course of business or otherwise customary in the Oil and Gas Business; 

(9) Investments in property, plant and equipment used in the ordinary course of business and Permitted Business Investments;

 (10) Investments that are in existence on the Original 7.50% Notes Issuance Date; 

(11) Investments in any Person to the extent such Investments consist of prepaid expenses, negotiable instruments held for
collection and lease, utility and workers’ compensation, performance and other similar deposits made in the ordinary course of business by the Company or any of its Restricted Subsidiaries; 

(12) guarantees of performance or other obligations (other than Indebtedness) arising in the ordinary course in the Oil and Gas
Business, including obligations under oil and natural gas exploration, development, joint operating and related agreements and licenses or concessions related to the Oil and Gas Business; 

(13) loans or advances to officers, directors, employees or consultants made in the ordinary course of business or otherwise
customary in the Oil and Gas Business and otherwise in compliance with Section 4.13 of this Indenture; 
 (14)
Investments of a Restricted Subsidiary acquired after the Original 7.50% Notes Issuance Date or of any entity merged into or consolidated with the Company or a Restricted Subsidiary in accordance with Section 5.01 of this Indenture, the extent
that such Investments were not made in contemplation of or in connection with such acquisition, merger or consolidation and were in existence on the date of such acquisition, merger or consolidation; 

(15) Investments received as a result of a foreclosure by, or other transfer of title to, the Company or any of its Restricted
Subsidiaries with respect to any secured Investment in default; 

  
 31 

 (16) Liens of the type described in clause (9) of the definition of
“Permitted Liens;” and 
 (17) other Investments having an aggregate Fair Market Value (measured on the date
each such Investment was made and without giving effect to subsequent changes in value), when taken together with all other Investments made pursuant to this clause (17) that are at the time outstanding, not to exceed the greater of $30.0
million and 3.0% of the Company’s Adjusted Consolidated Net Tangible Assets determined at the time of such Investment (after giving effect to any dividends, interest payments, return of capital and subsequent reduction in the amount of any
Investment made pursuant to this clause (17) as a result of the repayment or other disposition thereof, in an amount not to exceed the amount of such Investments previously made pursuant to this clause); provided, however, that if any
Investment pursuant to this clause (17) is made in any Person that is not a Restricted Subsidiary of the Company at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Company after such date, such
Investment shall thereafter be deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant to this clause (17) for so long as such Person continues to be a Restricted Subsidiary; 

provided, however, that with respect to any Investment, the Company may, in its sole discretion, allocate all or any portion of any Investment
and later re-allocate all or any portion of any Investment to one or more of the above clauses (1) through (17) so that the entire Investment would be a Permitted Investment. 

“Permitted Liens” means: 

(1) Liens securing any Indebtedness and other Obligations under any of the Credit Facilities incurred under clause (1) of
the second paragraph of Section 4.11 of this Indenture; 
 (2) Liens in favor of the Company or the Subsidiary
Guarantors; 
 (3) Liens on property (including Capital Stock) of a Person existing at the time such Person is merged with or
into or consolidated with the Company or any Restricted Subsidiary of the Company, provided that such Liens were in existence prior to the contemplation of such merger or consolidation and do not extend to any assets other than those of the Person
merged into or consolidated with the Company or the Restricted Subsidiary; 
 (4) Liens on property existing at the time of
acquisition of the property by the Company or any Restricted Subsidiary of the Company, provided that such Liens were in existence prior to the contemplation of such acquisition; 

(5) any interest or title of a lessor to the property subject to a Capital Lease Obligation; 

  
 32 

 (6) Liens on any asset or property acquired, constructed or improved by the
Company or any of its Restricted Subsidiaries; provided that (a) such Liens are in favor of the seller of such asset or property, in favor of the Person or Persons developing, constructing, repairing or improving such asset or property, or in
favor of the Person or Persons that provided the funding for the acquisition, development, construction, repair or improvement cost, as the case may be, of such asset or property, (b) such Liens are created within 360 days after the
acquisition, development, construction, repair or improvement, (c) the aggregate principal amount of the Indebtedness secured by such Liens is otherwise permitted to be incurred under this Indenture and does not exceed the greater of
(i) the cost of the asset or property so acquired, constructed or improved plus related financing costs and (ii) the Fair Market Value (as determined by an executive officer involved in or otherwise familiar with such acquisition,
construction or improvement of such asset or property, or, if such Fair Market Value is $40.0 million or more, the Board of Directors of the Company) of the asset or property so acquired, constructed or improved, measured at the date of such
acquisition, or the date of completion of such construction or improvement, and (d) such Liens are limited to the asset or property so acquired, constructed or improved (including the proceeds thereof, accessions thereto, upgrades thereof and
improvements thereto); 
 (7) Liens existing on the Original 7.50% Notes Issuance Date other than Liens securing the Credit
Facilities; 
 (8) Liens to secure the performance of tenders, bids, statutory obligations, surety or appeal bonds,
government contracts, performance bonds or other obligations of a like nature incurred in the ordinary course of business; 

(9) Liens on and pledges of the Equity Interests of any Unrestricted Subsidiary or any Joint Venture owned by the Company or
any Restricted Subsidiary of the Company to the extent securing Non-Recourse Debt or other Indebtedness of such Unrestricted Subsidiary or Joint Venture; 

(10) Liens in respect of Production Payments and Reserve Sales; 

(11) Liens on pipelines or pipeline facilities that arise by operation of law; 

(12) Liens arising under oil and gas leases, overriding royalty interest agreements, operating agreements, joint venture
agreements, partnership agreements, oil and gas leases, farm-out agreements, farm-in agreements, division orders, contracts for the sale, transportation or exchange of crude oil and natural gas and related Hydrocarbons and minerals, unitization and
pooling declarations and agreements, area of mutual interest agreements, land purchase option arrangements, participation and development agreements, joint operating agreements, and other agreements (including, without limitation, options, put and
call arrangements, rights of first offer, rights of first refusal, preferential rights, 

  
 33 

 
restrictions on dispositions and the like and those of the type described in the definition of “Permitted Business Investments”) arising in the ordinary course of business of the
Company and its Restricted Subsidiaries or that are customary in the Oil and Gas Business; 
 (13) Liens reserved in oil and
gas mineral leases for bonus or rental payments and for compliance with the terms of such leases; 
 (14) Liens upon specific
items of inventory, receivables or other goods or proceeds of the Company or any of its Restricted Subsidiaries securing such Person’s obligations in respect of bankers’ acceptances or receivables securitizations issued or created for the
account of such Person to facilitate the purchase, shipment or storage of such inventory, receivables or other goods or proceeds and permitted by Section 4.11; 

(15) Liens securing Obligations of the Company or the Subsidiary Guarantors under the Notes or the Subsidiary Guarantees, as
the case may be, and Liens securing other obligations of the Company or the Subsidiary Guarantors under this Indenture (other than with respect to Securities other than the Notes); 

(16) Liens to secure payment and performance of Hedging Contracts of the Company or any of its Restricted Subsidiaries; 

(17) Liens for taxes, assessments or governmental charges or claims that are not yet delinquent by more than sixty
(60) days or that are being contested in good faith by appropriate proceedings promptly instituted and diligently concluded; provided that any reserve or other appropriate provision as is required in conformity with GAAP has been made therefor;

 (18) landlords’, carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or like
Liens arising by contract or statute in the ordinary course of business and with respect to amounts which are not yet delinquent by more than sixty (60) days or are being contested in good faith by appropriate proceedings; 

(19) pledges or deposits made in the ordinary course of business (A) in connection with leases, tenders, bids, statutory
obligations, surety or appeal bonds, government contracts, performance bonds and similar obligations, or (B) in connection with workers’ compensation, unemployment insurance and other social security or similar legislation; 

(20) any attachment or judgment Lien that does not constitute an Event of Default; 

(21) survey exceptions, easements or reservations of, or rights of others for, licenses, rights-of-way, sewers, electric lines,
telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real property that were not incurred in connection with Indebtedness and that do not in the aggregate materially adversely affect the value of
said properties or materially impair their use in the operation of the business of the Company or any of its Restricted Subsidiaries; 

  
 34 

 (22) Liens arising solely by virtue of any statutory or common law provisions
relating to banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained or deposited with a depositary institution; provided that (A) such deposit account is not a dedicated cash
collateral account and is not subject to restrictions against access by the Company in excess of those set forth by regulations promulgated by the Federal Reserve Board and (B) such deposit account is not intended by the Company or any of its
Restricted Subsidiaries to provide collateral to the depositary institution; 
 (23) Liens arising from Uniform Commercial
Code financing statement filings regarding operating leases entered into by the Company and its Restricted Subsidiaries in the ordinary course of business; 

(24) leases or subleases granted to others that do not materially interfere with the ordinary course of business of the Company
and its Restricted Subsidiaries, taken as a whole; 
 (25) Liens arising under this Indenture or any supplemental indenture
to the Original Indenture in favor of the Trustee for its own benefit and similar Liens in favor of other trustees, agents and representatives arising under instruments governing Indebtedness permitted to be incurred under this Indenture; provided,
however, that such Liens are solely for the benefit of the trustees, agents or representatives in their capacities as such and not for the benefit of the holders of such Indebtedness; 

(26) Liens arising from the deposit of funds or securities in trust for the purpose of decreasing or defeasing Indebtedness so
long as such deposit of funds or securities and such decreasing or defeasing of Indebtedness are permitted under Section 4.09 of this Indenture; 

(27) Liens (other than Liens securing Indebtedness) on, or related to, assets to secure all or part of the costs incurred in
the ordinary course of the Oil and Gas Business for the exploration, drilling, development, production, processing, transportation, marketing, storage or operation thereof; 

(28) Liens arising from royalties, overriding royalties, revenue interests, net revenue interests, net profit interests,
reversionary interests, production payments, preferential rights of purchase, working interests and other similar interests, all as ordinarily exist with respect to properties and assets of the Company and its Restricted Subsidiaries or otherwise as
are customary in the Oil and Gas Business; 
 (29) Liens incurred in the ordinary course of business of the Company or any
Restricted Subsidiary of the Company, provided that, after giving effect to any such incurrence, the aggregate principal amount of all Indebtedness then 

  
 35 

 
outstanding and secured by any Liens incurred pursuant to this clause (29) does not exceed the amount set forth in clause (18) of the second paragraph of Section 4.11 of this
Indenture; and 
 (30) Liens to secure any Permitted Refinancing Indebtedness permitted to be incurred under this Indenture
and incurred to refinance Indebtedness that was previously so secured other than Indebtedness referred to in clause (1) above, provided that any such Lien is limited to all or part of the same assets (plus improvements, accessions, proceeds or
dividends or distributions in respect thereof) that secured (or, under the written arrangements under which the original Lien arose, could secure) the Indebtedness being refinanced or is in respect of assets that is the security for a Permitted Lien
hereunder. 
 “Permitted MLP Securities” means equity securities (including incentive distribution rights)
of a master limited partnership (or limited liability company or similar business entity with pass-through treatment for U.S. Federal income tax purposes) that has a class of equity securities traded on the New York Stock Exchange, the NYSE Amex,
the NASDAQ Stock Market or any successor to any such exchange or market, provided that such master limited partnership (or other entity) is an Affiliate of the Company. 

“Permitted Refinancing Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries or
any Disqualified Stock of the Company incurred or issued in exchange for, or the net proceeds of which shall be used to extend, refinance, renew, replace, defease, discharge, refund or otherwise retire for value, in whole or in part, any other
Indebtedness of the Company or any of its Restricted Subsidiaries (other than intercompany Indebtedness) or any Disqualified Stock of the Company (the “Refinanced Indebtedness”), provided that: 

(1) the principal amount, or in the case of Disqualified Stock, the amount thereof as determined in accordance with the
definition of Disqualified Stock, of such Permitted Refinancing Indebtedness does not exceed the principal amount of the Refinanced Indebtedness (plus all accrued (including, for the purposes of defeasance, future accrued) and unpaid interest on, or
accrued and unpaid dividends on, the Refinanced Indebtedness, as the case may be, and the amount of all fees, expenses and premiums incurred in connection therewith) and by an amount equal to any existing commitments and incremental facilities
unutilized thereunder to the extent incurrence of indebtedness under such unutilized commitment and incremental facilities would then have been permitted; 

(2) such Permitted Refinancing Indebtedness has a final maturity date or redemption date, as applicable, later than or equal to
the shorter of (A) 91 days following the Stated Maturity of the Notes or (B) the final maturity date or redemption date, as applicable, of, the Refinanced Indebtedness; 

  
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 (3) such Permitted Refinancing Indebtedness has a Weighted Average Life to
Maturity at the time such Permitted Refinancing Indebtedness is incurred equal to or greater than the shorter of (A) the Weighted Average Life to Maturity of, the Refinanced Indebtedness and (B) the Weighted Average Life to Maturity that
would result if all payments of principal on the Refinanced Indebtedness that were due on or after the date that is 91 days following the last maturity date of any Notes then Outstanding were instead due on such date; 

(4) if the Refinanced Indebtedness is contractually subordinated or otherwise junior in right of payment to the Notes or the
Subsidiary Guarantees, such Permitted Refinancing Indebtedness is contractually subordinated or otherwise junior in right of payment to the Notes or the Subsidiary Guarantees on terms at least as favorable to the Holders of Notes as those contained
in the documentation governing the Refinanced Indebtedness; and 
 (5) such Permitted Refinancing Indebtedness is not
incurred (other than by way of a guarantee) by a Non-Guarantor Restricted Subsidiary of the Company if the Company or a Subsidiary Guarantor is the issuer or other obligor on the Refinanced Indebtedness; and 

(6) except as otherwise provided in clause (3) of the second paragraph of Section 4.09, the proceeds of the Permitted
Refinancing Indebtedness shall be used substantially concurrently with the incurrence thereof to extend, refinance, renew, replace, defease, discharge, refund or otherwise retire the Refinanced Indebtedness, unless the Refinanced Indebtedness is not
then due and is not redeemable or prepayable, defeasable or dischargeable, as the case may be, at the option of the obligor thereof or is redeemable or prepayable or may be defeased or discharged only with notice, in which case, such proceeds shall
be held in a segregated account of the obligor of the Refinanced Indebtedness until the Refinanced Indebtedness becomes due or redeemable, prepayable or subject to defeasance or discharge, as the case may be, or such notice period lapses and then
shall be used to extend, refinance, renew, replace, defease, discharge, refund or otherwise retire the Refinanced Indebtedness; provided that in any event the Refinanced Indebtedness shall be extended, refinanced, renewed, replaced, defeased,
discharged, refunded or otherwise retired within 60 days of the incurrence of the Refinancing Indebtedness. 

“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization, limited liability company or government or other entity. 
 “Production Facility or
Pipeline Assets” means (i) assets used primarily for production gathering, transmission, transportation, storage, processing or treatment of natural gas, natural gas liquids or other Hydrocarbons or carbon dioxide and (ii) equity
interests of any Person that has no substantial assets other than assets referred to in clause (i). 

  
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 “Production Payments” means, collectively, Dollar-Denominated
Production Payments and Volumetric Production Payments. 
 “Production Payments and Reserve Sales” means the grant
or transfer by the Company or a Restricted Subsidiary of the Company to any Person of a royalty, overriding royalty, net profits interest, production payment (whether volumetric or dollar denominated), partnership or other interest in oil and gas
properties, reserves or the right to receive all or a portion of the production or the proceeds from the sale of production attributable to such properties, including any such grants or transfers pursuant to incentive compensation programs on terms
that are reasonably customary in the oil and gas business for geologists, geophysicists and other providers of technical services to the Company or a Subsidiary of the Company. 

“Rating Agency” means S&P and Moody’s, or if S&P or Moody’s or both shall not make a rating on the
Notes publicly available, a nationally recognized statistical rating agency or agencies, as the case may be, selected by the Company (as certified by a resolution of the Board of Directors or a committee thereof) which shall be substituted for
S&P or Moody’s or both, as the case may be. 
 “Reporting Default” means a Default described in clause
(4) of Section 6.01. 
 “Restricted Investment” means an Investment other than a Permitted Investment.

 “Restricted Subsidiary” of a Person means any Subsidiary of the referent Person that is not an Unrestricted
Subsidiary. 
 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc., or any successor to the rating agency business thereof. 
 “Sale Leaseback Transaction” means,
with respect to the Company or any of its Restricted Subsidiaries, any arrangement with any Person providing for the leasing by the Company or any of its Restricted Subsidiaries of any principal property, acquired or placed into service more than
180 days prior to such arrangement, whereby such property has been or is to be sold or transferred by the Company or any of its Restricted Subsidiaries to such Person. 

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

“Senior Debt” means 

(1) all Indebtedness of the Company or any of its Restricted Subsidiaries outstanding under the Credit Agreement and all
obligations under Hedging Contracts with respect thereto; 
 (2) any other Indebtedness of the Company or any of its
Restricted Subsidiaries permitted to be incurred under the terms of this Indenture, unless the instrument under which such Indebtedness is incurred expressly provides that it is subordinated in right of payment to the Notes or any Subsidiary
Guarantee; and 
 (3) all Obligations with respect to the items listed in the preceding clauses (1) and (2). 

  
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 Notwithstanding anything to the contrary in the preceding sentence, Senior Debt will not include:

 (a) any intercompany Indebtedness of the Company or any of its Restricted Subsidiaries to the Company or any of its
Affiliates; or 
 (b) any Indebtedness that is incurred in violation of this Indenture. 

For the avoidance of doubt, “Senior Debt” will not include any trade payables or taxes owed or owing by the Company
or any of its Restricted Subsidiaries. 
 “Significant Subsidiary” means any Subsidiary that would be a
“significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such Regulation is in effect on the Original 7.50% Notes Issuance Date. 

“Stated Maturity” means, with respect to any installment of interest or principal on any series of Indebtedness, the
date on which the payment of interest or principal was scheduled to be paid in the original documentation governing such Indebtedness, and will not include any contingent obligations to repay, redeem or repurchase any such interest or principal
prior to the date originally scheduled for the payment thereof. 
 “Subsidiary” means, with respect to any
specified Person: 
 (1) any corporation, association or other business entity (other than a partnership or limited liability
company) of which more than 50% of the total voting power of Voting Stock is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person (or a combination thereof); and 

(2) any partnership (whether general or limited) or limited liability company (a) the sole general partner or member of
which is such Person or a Subsidiary of such Person, or (b) if there is more than a single general partner or member, either (x) the only managing general partners or managing members of which are such Person or one or more Subsidiaries of
such Person (or any combination thereof) or (y) such Person owns or controls, directly or indirectly, a majority of the outstanding general partner interests, member interests or other Voting Stock of such partnership or limited liability
company, respectively. 
 “Subsidiary Guarantee” means the joint and several guarantee pursuant to Article X hereof
by a Subsidiary Guarantor of the Obligations of the Company under this Indenture and the Notes. 
 “Subsidiary
Guarantors” means each of (a) the Restricted Subsidiaries of the Company executing this Indenture as initial Subsidiary Guarantors, (b) any other 

  
 39 

 
Restricted Subsidiary of the Company that executes a supplement to this Indenture in accordance with Section 4.15 or 10.02 hereof and (c) the respective successors and assigns of such
Restricted Subsidiaries in each case until such time as any such Restricted Subsidiary shall be released and relieved of its obligations pursuant to Section 4.15, 8.01 or 10.03 hereof. 

“Successor Parent” with respect to any Person means any other Person more than 50% of the total outstanding Voting
Stock of which (measured by voting power rather than the number of shares, units or the like) is, at the time the first Person becomes a Subsidiary of such other Person, “Beneficially Owned” either by the first Person or by one or more
Persons that Beneficially Owned more than 50% of the total outstanding Voting Stock of the first Person (measured by voting power rather than the number of shares, units or the like) immediately prior to the first Person becoming a Subsidiary of
such other Person. 
 “Treasury Rate” means, as of any Redemption Date, the yield to maturity as of such Redemption
Date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15(519) which has become publicly available at least two Business Days prior to the Redemption
Date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the Redemption Date to September 15, 2016; provided, however, that if such period is not
equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Company shall obtain the Treasury Rate by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly
average yields of United States Treasury securities for which such yields are given, except that if the period from the Redemption Date to September 15, 2016 is less than one year, the weekly average yield on actually traded United States
Treasury securities adjusted to a constant maturity of one year shall be used. The Company will (a) calculate the Treasury Rate on the second Business Day preceding the applicable Redemption Date and (b) prior to such Redemption Date file
with the Trustee an Officers’ Certificate setting forth the Make Whole Premium and the Treasury Rate and showing the calculation of each in reasonable detail. 

“Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from time to time. 

“Unrestricted Subsidiary” means, initially, Monument Exploration LLC, and thereafter shall include any Subsidiary of
the Company that is designated by the Board of Directors of the Company as an Unrestricted Subsidiary pursuant to a Board Resolution, but only to the extent that such Subsidiary: 

(1) has no Indebtedness other than Non-Recourse Debt owing to any Person other than the Company or any of its Restricted
Subsidiaries; 
 (2) is not party to any agreement, contract, arrangement or understanding with the Company or any Restricted
Subsidiary of the Company unless (a) the terms of any such agreement, contract, arrangement or 

  
 40 

 
understanding are no less favorable to the Company or such Restricted Subsidiary than those that might be obtained at the time from Persons who are not Affiliates of the Company or (b) is
otherwise permitted under the provisions of Section 4.13 or (c) to the extent that clause (a) or (b) is not satisfied, the excess value of such agreement, contract, arrangement or understanding shall be deemed a Restricted
Payment; 
 (3) is a Person with respect to which neither the Company nor any of its Restricted Subsidiaries has any direct
or indirect obligation (a) to subscribe for additional Equity Interests or (b) to maintain or preserve such Person’s financial condition or to cause such Person to achieve any specified levels of operating results; and 

(4) has not, from and after such designation, guaranteed or otherwise directly or indirectly provided credit support for any
Indebtedness of the Company or any of its Restricted Subsidiaries (other than as otherwise provided in the definition of “Non-Recourse Debt”); 

provided, however, that items (1) through (4) above shall not be deemed to prevent Permitted Investments in
Unrestricted Subsidiaries that are otherwise allowed under this Indenture. 
 Any designation of a Subsidiary of the
Company as an Unrestricted Subsidiary will be evidenced to the Trustee by filing with the Trustee a Board Resolution giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the preceding
conditions and was permitted by Section 4.09. In the case of any designation by the Company of a Person as an Unrestricted Subsidiary on the first day that such Person is a Subsidiary of the Company in accordance with the provisions of the
Indenture, such designation shall be deemed to have occurred for all purposes of the Indenture simultaneously with, and automatically upon, such Person becoming a Subsidiary. If, at any time, any Unrestricted Subsidiary would fail to meet the
preceding requirements as an Unrestricted Subsidiary, it will thereafter cease to be an Unrestricted Subsidiary for purposes of this Indenture and any Indebtedness of such Subsidiary will be deemed to be incurred by a Restricted Subsidiary of the
Company as of such date and, if such Indebtedness is not permitted to be incurred as of such date under Section 4.11, the Company will be in default of such covenant. 

“Volumetric Production Payments” means production payment obligations recorded as deferred revenue in accordance with
GAAP, together with all related undertakings and obligations. 
 “Voting Stock” of any Person as of any date means
the Capital Stock of such Person that is at the time entitled (without regard to the occurrence of any contingency) to vote in the election of the Board of Directors of such Person. 

  
 41 

 “Weighted Average Life to Maturity” means, when applied to any
Indebtedness or Disqualified Stock at any date, the number of years obtained by dividing: 
 (1) the sum of the products
obtained by multiplying (a) the amount of each then remaining installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity or redemption, in respect of the Indebtedness or Disqualified
Stock, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment; by 

(2) the then outstanding aggregate principal amount of such Indebtedness or Disqualified Stock. 

 

	SECTION 202	Other Definitions. 

 Section 1.02 of the Original Indenture shall be amended by
inserting the following terms, in their appropriate alphabetical position, and corresponding section references into the table in such Section 1.02 of the Original Indenture: 

 

			
	 Term
	  	 Defined in Section

	“Affiliate Transaction”	  	4.13
	“Asset Sale Offer”	  	3.13
	“Change of Control Offer”	  	4.16
	“Change of Control Payment”	  	4.16
	“Change of Control Purchase Date”	  	4.16
	“Change of Control Settlement Date”	  	4.16
	“Excess Proceeds”	  	4.12
	“incur”	  	4.11
	“Offer Amount”	  	3.13
	“Offer Period”	  	3.13
	“Payment Default”	  	6.01
	“Permitted Debt”	  	4.11
	“Restricted Payments”	  	4.09
	“Settlement Date”	  	3.13
	“Termination Date”	  	3.13

  

	SECTION 203	Mutilated, Destroyed, Lost and Stolen Securities. 

 The Original Indenture shall
be amended by replacing the second sentence of Section 2.09 of the Original Indenture with the following sentence: 
 If
any such mutilated, destroyed, lost or stolen Security has become or is about to become due and payable, or is about to be redeemed or purchased by the Company pursuant to an optional redemption described in Section 3.12 or purchased by the
Company upon a Change of Control or an Asset Sale pursuant to Article IV, the Company in its discretion may, instead of issuing a new Security, pay, redeem or purchase such Security. 

  
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	SECTION 204	Amendment of Indenture Without Consent of Holders 

 Clause (8) of Section 9.01
of the Original Indenture is hereby amended to replace the words “prospectus supplement” with the words “prospectus, prospectus supplement or offering memorandum.” 

 

	SECTION 205	Limitation on Mergers and Consolidations. 

 Article V of the Original Indenture shall be
amended by replacing Article V of the Original Indenture with the following with respect to the Notes: 
  

	 	Section 5.01	Merger, Consolidation or Sale of Assets. 

 The Company may not
(x) consolidate or merge with or into another Person (whether or not the Company is the survivor), or (y) directly or indirectly sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its assets, in one
or more related transactions to another Person, unless: 
 (a) either (1) the Company is the survivor or (2) the
Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a Person organized or existing under the laws of
the United States, any state of the United States or the District of Columbia; 
 (b) the Person formed by or surviving any
such consolidation or merger (if other than the Company) or the Person to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made assumes all the obligations of the Company under the Notes, this Indenture
and any Registration Rights Agreement pursuant to a supplemental indenture or other agreement in a form reasonably satisfactory to the Trustee; 

(c) immediately after such transaction, no Default (other than a Reporting Default) or Event of Default exists; 

(d) and either 

(i) the Company or the Person formed by or surviving any such consolidation or merger (if other than the Company), or to which
such sale, assignment, transfer, lease, conveyance or other disposition shall have been made will, on the date of such transaction immediately after giving pro forma effect thereto and any related financing transactions as if the same had occurred
at the beginning of the applicable four-quarter period, be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in the first paragraph of Section 4.11 hereof; or 

  
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 (ii) immediately after giving effect to such transaction and any related
financing transactions on a pro forma basis as if the same had occurred at the beginning of the applicable four-quarter period, the Fixed Charge Coverage Ratio of the Company or the Person formed by or surviving any such consolidation or merger (if
other than the Company), or to which such sale, assignment, transfer, lease, conveyance or other disposition has been made, will be equal to or greater than the Fixed Charge Coverage Ratio of the Company immediately prior to such transaction; or

 (iii) immediately after giving effect to such transaction and any related financing transactions on a pro forma basis,
the Consolidated Net Worth of the Company will be greater than the Consolidated Net Worth of the Company immediately prior to such transaction; and 

(e) the Company has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that such
consolidation, merger or disposition and such supplemental indenture (if any) comply with this Indenture. 
 Notwithstanding
the restrictions described in the foregoing clauses (c) and (d), (x) any Restricted Subsidiary of the Company may consolidate with, merge into or dispose of all or part of its assets to the Company or another Restricted Subsidiary,
and (y) the Company may merge with or into an Affiliate formed solely for the purpose of reincorporating the Company in another jurisdiction, and the Company will not be required to comply with the preceding clause (e) in connection with
any such consolidation, merger or disposition. 
 For purposes of the foregoing, the transfer (by lease, assignment, sale or
otherwise, in a single transaction or series of transactions) of all or substantially all of the assets of one or more Restricted Subsidiaries of the Company, the Capital Stock of which constitutes all or substantially all of the assets of the
Company, shall be deemed to be the transfer of all or substantially all of the assets of the Company. 
  

	 	Section 5.02	Successor Substituted. 

 Upon any consolidation or merger, or any
sale, assignment, transfer, lease, conveyance or other disposition of all or substantially all of the assets of the Company in accordance with Section 5.01 hereof, in which the Company is not the surviving entity, the surviving entity formed by
such consolidation or into or with which the Company is merged or to which such sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for, and may exercise every right and power of, the
Company under this Indenture with the same effect as if such surviving entity had been named as the Company herein and shall be substituted for the Company (so that from and after the date of such consolidation, merger, sale, assignment, transfer,
lease, conveyance or other disposition, the provisions of this Indenture referring to the “Company” shall refer instead to the surviving entity and not to the Company); and thereafter, if the Company is dissolved following a transfer of
all or substantially all of its 

  
 44 

 
assets in accordance with this Indenture (except in the case of a lease of all or substantially all of the Company’s assets), it shall be discharged and released from all obligations and
covenants under this Indenture and the Notes. The Trustee shall enter into a supplemental indenture to evidence the succession and substitution of such successor and such discharge and release of the Company. 

 

	SECTION 206	Issuance of Additional Notes. 

 Article II of the Original Indenture shall be amended by
inserting the following section: 
  

	 	Section 2.18	Issuance of Additional Notes. 

 The Company shall be entitled,
subject to its compliance with Section 4.11, at any time and from time to time, and without notice or consent of the Holders of the Notes, to create and issue Additional Notes under this Indenture which shall rank equally and ratably with, and
have identical terms, as the Notes issued on the Initial Issuance Date, other than with respect to the date of issuance and issue price; provided, however, that any issuance of Additional Notes bearing the same CUSIP number as the Notes issued on
the Initial Issuance Date (i) is treated as part of the same issue as the Notes issued on the Initial Issuance Date within the meaning of Treasury Regulation § 1.1275-1(f), (ii) is a qualified reopening of the Notes issued on the
Initial Issuance Date within the meaning of Treasury Regulation § 1.1275-2(k), or (iii) is otherwise fungible with the Notes issued on the Initial Issuance Date for U.S. federal income tax purposes, in the case of each of clauses (i),
(ii) and (iii), so that such Additional Notes will trade as part of a single class with the Notes issued on the Initial Issuance Date, and provided further that Additional Notes that do not fall within clause (i), (ii) or (iii) of
this paragraph shall have separate CUSIP and ISIN numbers. The Notes issued on the Initial Issuance Date, and any Additional Notes shall be treated as a single class for all purposes under this Indenture, including, without limitation, waivers,
consents, directions, declarations, amendments, redemptions and offers to purchase. 
 With respect to any Additional Notes,
the Company shall set forth in an Officers’ Certificate, which shall be delivered to the Trustee, the following information: 

(1) the aggregate principal amount of such Additional Notes to be authenticated and delivered pursuant to this Indenture; and

 (2) the issue price, the issue date (and the corresponding date from which interest shall accrue thereon and the first
interest payment date therefor) and the CUSIP number and any corresponding ISIN of such Additional Notes. 

  
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	SECTION 207	Redemption. 

 (a) Section 3.03 of the Original Indenture shall be amended by
replacing that section of the Original Indenture with the following with respect to the Notes: 
  

	 	Section 3.03	Selection of Notes to Be Redeemed. 

 If less than all of the Notes
are to be redeemed at any time, the Trustee shall select the Notes to be redeemed among the Holders of the Notes as follows: (1) if the Notes are listed on any national securities exchange, in compliance with the requirements of the principal
national securities exchange on which the Notes are listed; or (2) if the Notes are not listed on any national securities exchange, on a pro rata basis or, in the case of Notes in global form, the Trustee will select Notes for redemption based
on DTC’s method that most nearly approximates pro rata selection unless otherwise required by law. In the event of partial redemption other than on a pro rata basis, the particular Notes to be redeemed shall be selected, not less than
five (5) Business Days (unless a shorter period shall be agreeable to the Trustee) prior to the giving of notice of the redemption pursuant to Section 3.04, by the Trustee from the Outstanding Notes not previously called for redemption.

 The Trustee shall promptly notify the Company in writing of the Notes selected for redemption and, in the case of any Note
selected for partial redemption, the principal amount thereof to be redeemed. Notes and portions of Notes selected shall be in amounts of $2,000 or whole multiples of $1,000 in excess of $2,000; except that if all of the Notes of a Holder are to be
redeemed, the entire Outstanding amount of Notes held by such Holder, even if not a multiple of $1,000, shall be redeemed. Provisions of this Indenture that apply to Notes called for redemption also apply to portions of Notes called for redemption.

 (b) The first paragraph of Section 3.04 of the Original Indenture shall be amended by replacing that paragraph with the following:

 Subject to the provisions of Section 3.13 hereof, at least 30 days but not more than 60 days before a Redemption Date
(except that redemption notices may be mailed or sent more than 60 days prior to a Redemption Date if the notice is issued in connection with a legal defeasance, covenant defeasance or discharge), the Company shall mail or cause to be mailed, by
first class mail, or if the Notes are in global form, sent pursuant to the applicable procedures of DTC, a notice of redemption to each Holder whose Notes are to be redeemed at its registered address. 

(c) The following provisions shall be added to Article III of the Original Indenture with respect to the Notes: 

 

	 	Section 3.12	Optional Redemption. 

 (a) Except as set forth in clauses (b)
and (c) of this Section 3.12 or in the final paragraph of Section 4.16, the Company shall not have the option to redeem the Notes prior to September 15, 2016. On and after September 15, 2016, the Company shall have

  
 46 

 
the option to redeem the Notes, in whole or in part at any time, at the Redemption Prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any,
on the Notes to be redeemed to the applicable Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the Redemption Date), if redeemed during
the twelve-month period beginning on September 15 of the years indicated below: 
  

					
	 YEAR
	  	PERCENTAGE	 
	 2016
	  	 	103.750	% 
	 2017
	  	 	101.875	% 
	 2018 and thereafter
	  	 	100.000	% 

 (b) Notwithstanding the provisions of clause (a) of this Section 3.12, at any time
prior to September 15, 2015, the Company may on any one or more occasions redeem up to 35% of the aggregate principal amount of Notes (including any Additional Notes) issued under this Indenture at a Redemption Price of 107.500% of the
principal amount thereof, plus accrued and unpaid interest, if any, thereon to the Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the
Redemption Date), in an amount up to the amount of the net cash proceeds of one or more Equity Offerings, provided that, with respect to each such redemption: 

(1) at least 65% of the aggregate principal amount of Notes initially issued under this Indenture remains Outstanding
immediately after the occurrence of such redemption (excluding any Notes held by the Company and its Subsidiaries); and 

(2) such redemption occurs within 180 days of the date of the closing of the related Equity Offering. 

(c) Prior to September 15, 2016, the Company may redeem on one or more occasions all or part of the Notes at a Redemption
Price equal to the sum of: 
 (1) 100% of the principal amount thereof, plus 

(2) accrued and unpaid interest, if any, to the Redemption Date (subject to the right of Holders of record on the relevant
record date to receive interest due on an interest payment date that is on or prior to the Redemption Date), plus 
 (3) the
Make Whole Premium at the Redemption Date. 
 (d) Any redemption pursuant to this Section 3.12 shall be made pursuant to
the provisions of Section 3.01 through Section 3.11 hereof. 
 (e) Nothing in this Section 3.12 shall prohibit
the Company from acquiring the Notes by means other than a redemption, whether pursuant to a tender offer, open market purchase or otherwise, so long as the acquisition does not violate the terms of the Indenture. 

  
 47 

	 	Section 3.13	Offer to Purchase by Application of Excess Proceeds. 

 In the
event that, pursuant to Section 4.12 hereof, the Company shall be required to commence an offer to all Holders to purchase Notes (an “Asset Sale Offer”), it shall follow the procedures specified below. 

The Asset Sale Offer shall remain open for a period of 20 Business Days following its commencement and no longer, except to the
extent that a longer period is required by Applicable Law (the “Offer Period”). No later than five Business Days after the termination of the Offer Period (the “Settlement Date”), the Company shall purchase and pay for the
principal amount of Notes required to be purchased pursuant to Section 4.12 hereof (the “Offer Amount”) or, if less than the Offer Amount has been tendered, all Notes validly tendered in response to the Asset Sale Offer. Payment for
any Notes so purchased shall be made in the manner prescribed in the Notes. 
 Upon the commencement of an Asset Sale Offer,
the Company shall send, by first class mail, a notice to each of the Holders, with a copy to the Trustee. The notice shall contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset Sale Offer. The
Asset Sale Offer shall be made to all Holders. The notice, which shall govern the terms of the Asset Sale Offer, shall state: 

(a) that the Asset Sale Offer is being made pursuant to this Section 3.13 and Section 4.12 hereof and the length of
time the Asset Sale Offer shall remain open, including the time and date the Asset Sale Offer will terminate (the “Termination Date”); 

(b) the Offer Amount and the purchase price; 

(c) that any Note not tendered or accepted for payment shall continue to accrue interest; 

(d) that, unless the Company defaults in making such payment, any Note accepted for payment pursuant to the Asset Sale Offer
shall cease to accrue interest after the Settlement Date; 
 (e) that Holders electing to have a Note purchased pursuant to
any Asset Sale Offer shall be required to surrender the Note, properly endorsed for transfer, together with the form entitled “Option of Holder to Elect Purchase” on the reverse of the Note completed and such customary documents as the
Company may reasonably request, to the Company or a Paying Agent at the address specified in the notice, before the Termination Date; 

(f) that Holders shall be entitled to withdraw their election if the Company or the Paying Agent, as the case may be, receives,
prior to the Termination Date, a telegram, telex, facsimile transmission or letter setting forth 

  
 48 

 
the name of the Holder, the principal amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased; 

(g) that, if the aggregate principal amount of Notes surrendered by Holders, and Pari Passu Indebtedness surrendered by holders
or lenders, collectively, exceeds the amount the Company is required to repurchase, the Trustee shall select the Notes and Pari Passu Indebtedness to be purchased on a pro rata basis on the basis of the aggregate principal amount of tendered Notes
and Pari Passu Indebtedness (with such adjustments as may be deemed appropriate by the Trustee so that only Notes in denominations of $2,000, or integral multiples of $1,000 in excess of $2,000, shall be purchased); and 

(h) that Holders whose Notes were purchased only in part shall be issued Notes equal in principal amount to the unpurchased
portion of the Notes surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of $1,000 in excess of $2,000. 

If any of the Notes subject to an Asset Sale Offer is in the form of a Global Note, then the Company shall modify such notice
to the extent necessary to accord with the procedures of the Depositary applicable to repurchases. 
 Promptly after the
Termination Date, the Company shall, to the extent lawful, accept for payment Notes or portions thereof tendered pursuant to the Asset Sale Offer in the aggregate principal amount required by Section 4.12 hereof, and prior to the Settlement
Date it shall deliver to the Trustee an Officers’ Certificate stating that such Notes or portions thereof were accepted for payment by the Company in accordance with the terms of this Section 3.13 and Section 4.12. Prior to
11:00 a.m., New York City time, on the Settlement Date, the Company or the Paying Agent, as the case may be, shall mail or deliver to each tendering Holder an amount equal to the purchase price of the Notes tendered by such Holder and accepted
by the Company for purchase, and the Company shall issue a Note, and the Trustee shall authenticate and mail or deliver such Note to such Holder, in a principal amount equal to any unpurchased portion of the Note surrendered. Any Note not so
accepted shall be promptly mailed or delivered by the Company to the Holder thereof. The Company shall publicly announce the results of the Asset Sale Offer on or before the Settlement Date. 

 

	SECTION 208	Covenants. 

 (a) Section 4.05 of the Original Indenture is amended and restated in
its entirety as follows: 
  

	 	Section 4.05	Existence. 

 Except as otherwise permitted pursuant to the terms
hereof (including consolidation and merger permitted by Section 5.01), the Company shall do or cause to be done all things necessary to preserve and keep in full force and effect its corporate existence, and the corporate, partnership, limited
liability company or other existence of 

  
 49 

 
each of its Restricted Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to time) of the Company or any such Restricted Subsidiary;
provided, however, that the Company shall not be required to preserve the existence of any of its Restricted Subsidiaries if the Company shall determine that the preservation thereof is no longer desirable in the conduct of the business of the
Company and its Restricted Subsidiaries taken as a whole and that the loss thereof is not adverse in any material respect to the Holders of the Notes. 

(b) Article IV of the Original Indenture is amended by adding the following covenants for the benefit of the Holders of the Notes: 

 

	 	Section 4.08.	Effectiveness of Covenants. 

 From and after the first day (the
“Suspension Date”) on which (i) the Notes have an Investment Grade Rating from both of the Rating Agencies and (ii) no Default has occurred and is continuing under the Indenture, the Company and its Restricted Subsidiaries shall
cease to be subject to the provisions of the following sections of the Indenture: 
  

	 	•	 	Section 4.09, 

  

	 	•	 	Section 4.10, 

  

	 	•	 	Section 4.11, 

  

	 	•	 	Section 4.12 and Section 3.13, 

  

	 	•	 	Section 4.13, and 

  

	 	•	 	clauses (d) of (e) of Section 5.01 (collectively, the “Suspended Covenants”). 

If at any date (each such date, a “Reversion Date”) the credit rating of the Notes is downgraded from an Investment
Grade Rating by either Rating Agency, then the Suspended Covenants will thereafter be reinstated and again be applicable pursuant to the terms of the Indenture, unless and until the Notes subsequently attain an Investment Grade Rating. The period of
time between any Suspension Date and the first subsequent Reversion Date is referred to herein as a “Suspension Period.” Neither the failure of the Company or any of its Subsidiaries to comply with a Suspended Covenant during a Suspension
Period nor compliance by the Company or any of its Subsidiaries with any contractual obligation entered into in compliance with the Indenture during a Suspension Period will constitute a Default, Event of Default or breach of any kind under the
Indenture, the Notes or the Subsidiary Guarantees. 
 During any Suspension Period, the Board of Directors of the Company
shall not designate any of the Company’s Subsidiaries as Unrestricted Subsidiaries pursuant to the Indenture. 

  
 50 

 Calculations made after the Reversion Date of the amount available to be made as
Restricted Payments under Section 4.09 will be made as though the covenant described in Section 4.09 had been in effect at all times since the Original 7.50% Notes Issuance Date, including during any Suspension Period. 

The Company shall provide an Officers’ Certificate to the Trustee indicating the occurrence of any Suspension Date or
Reversion Date. The Trustee will have no obligation to (i) independently determine or verify if such events have occurred, (ii) make any determination regarding the impact of actions taken during the Suspension Period on the Company’s
and its Subsidiaries’ future compliance with their covenants or (iii) notify the holders of any Suspension Date or Reversion Date. 
  

	 	Section 4.09	Limitation on Restricted Payments. 

 The Company will not, and will not
permit any of its Restricted Subsidiaries to, directly or indirectly: 
 (1) declare or pay any dividend or make any other
payment or distribution on account of the Company’s or any of its Restricted Subsidiaries’ Equity Interests (including, without limitation, any payment in connection with any merger or consolidation involving the Company or any of its
Restricted Subsidiaries) or to the holders of the Company’s or any of its Restricted Subsidiaries’ Equity Interests in their capacity as such (other than dividends or distributions payable in Equity Interests (other than Disqualified
Stock) of the Company or payable to the Company or a Restricted Subsidiary of the Company); 
 (2) purchase, redeem or
otherwise acquire or retire for value (including, without limitation, in connection with any merger or consolidation involving the Company) any Equity Interests of the Company or any direct or indirect parent of the Company; 

(3) make any principal payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for value any
Indebtedness that is subordinated in right of payment to the Notes or any Subsidiary Guarantee (excluding (a) any intercompany Indebtedness between or among the Company and any of its Restricted Subsidiaries, (b) the purchase, redemption,
defeasance, repurchase or other acquisition of Indebtedness that is subordinated in right of payment to the Notes or the Subsidiary Guarantees purchased, redeemed, defeased or otherwise acquired in anticipation of satisfying a sinking fund
obligation, principal installment or final maturity, in each case due within one year of the date of purchase, repurchase, redemption, defeasance or acquisition, and (c) any payment of principal at the Stated Maturity thereof); or 

(4) make any Restricted Investment (all such payments and other actions set forth in these clauses (1) through
(4) being collectively referred to as “Restricted Payments”), 

  
 51 

 unless, at the time of and after giving effect to such Restricted Payment, no
Default (except a Reporting Default) or Event of Default has occurred and is continuing or would occur as a consequence of such Restricted Payment and: 

(I) the Company would, at the time of such Restricted Payment immediately after giving pro forma effect thereto as if the same
had occurred at the beginning of the applicable four-quarter period, be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in the first paragraph of Section 4.11; and 

(II) such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Company and its
Restricted Subsidiaries (excluding Restricted Payments permitted by clauses (2), (3), (4), (5), (8), (9), (11) and (13) of the next succeeding paragraph) since November 2, 2010, is less than the sum, without duplication, of (the
“Restricted Payments Basket”): 
 (a) 50% of the aggregate Consolidated Net Income of the Company accrued on a
cumulative basis during the period beginning on the Measurement Date and ending on the last day of the Company’s last fiscal quarter ending prior to the date of the Restricted Payment (or, if such aggregate cumulative Consolidated Net Income
shall be a loss, minus 100% of such loss); plus 
 (b) 100% of the aggregate net cash proceeds, and the Fair Market Value of
any Capital Stock of Persons (other than an Unrestricted Subsidiary) engaged primarily in the Oil and Gas Business or any other assets that are used or useful in the Oil and Gas Business, in each case received by the Company after the Measurement
Date as a contribution to its common equity capital or from the issue or sale after the Measurement Date of Equity Interests of the Company (other than Disqualified Stock) or from the issue or sale after the Measurement Date of convertible or
exchangeable Disqualified Stock or convertible or exchangeable debt securities of the Company that have been converted into or exchanged for such Equity Interests (other than Equity Interests (or Disqualified Stock or debt securities) sold to a
Subsidiary of the Company) or received upon the exercise of any options, warrants or rights to purchase Equity Interests (other than Disqualified Stock) of the Company; plus 

(c) the amount equal to the net reduction in Restricted Investments made by the Company or any of its Restricted Subsidiaries
in any Person since the Measurement Date resulting from: 
 (i) repurchases or redemptions of such Restricted Investments by
such Person, proceeds realized upon the sale of such Restricted Investment to a purchaser other than the Company or a Subsidiary of the Company, repayments of loans or advances or other transfers of assets (including by way of interest payments,
dividend or distribution) by such Person to the Company or any Restricted Subsidiary of the Company; plus 

  
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 (ii) the redesignation of Unrestricted Subsidiaries as Restricted Subsidiaries
or the merger or consolidation of an Unrestricted Subsidiary with and into the Company or any Restricted Subsidiary (valued in each case as provided in the definition of “Investment”) not to exceed, in the case of any Unrestricted
Subsidiary, the amount of Investments previously made by the Company or any Restricted Subsidiary of the Company in such Unrestricted Subsidiary; plus 

(iii) an amount equal to any amount included as a Restricted Payment pursuant to clause (II) of the first paragraph of this
Section 4.09 on account of any guarantee entered into by the Company or any Restricted Subsidiary; to the extent that such guarantee has not been called upon and the obligation arising under such guarantee no longer exists or has been reduced;
plus 
 (iv) in the event the Company or any Restricted Subsidiary makes any Investment in a Person that, as a result of or
in connection with such Investment, becomes a Restricted Subsidiary or is merged or consolidated with the Company or a Restricted Subsidiary, an amount equal to the amount included as a Restricted Payment pursuant to clause (II) of the first
paragraph of this Section 4.09 on account of the Company’s or any Restricted Subsidiary’s Investment in such Person prior to the time it became a Restricted Subsidiary or the time of such merger or consolidation; plus 

(d) the amount by which Indebtedness of the Company or its Restricted Subsidiaries is reduced on the Company’s balance
sheet upon the conversion or exchange (other than by a Subsidiary of the Company) subsequent to the Measurement Date of any Indebtedness of the Company or its Restricted Subsidiaries convertible into or exchangeable for Equity Interests of the
Company (other than Disqualified Stock) (less the amount of cash, or the Fair Market Value of any other property, distributed by the Company upon such conversion or exchange), 

in each case to the extent such amounts have not been included in Consolidated Net Income for any period commencing on or
after the Measurement Date. 
 The preceding provisions will not prohibit: 

(1) the payment of any dividend or distribution or the consummation of an irrevocable redemption within 60 days after the date
of its declaration or the giving of notice of such a redemption, if at the date of declaration or notice the payment would have complied with the provisions of this Indenture; 

  
 53 

 (2) the redemption, repurchase, retirement, defeasance or other acquisition of
any subordinated Indebtedness of the Company or any Subsidiary Guarantor or of any Equity Interests of the Company in exchange for, or out of the net cash proceeds of the substantially concurrent (a) contribution (other than from a Restricted
Subsidiary of the Company) to the equity capital of the Company or (b) sale (other than to a Restricted Subsidiary of the Company) of, Equity Interests of the Company (other than Disqualified Stock), with a sale being deemed substantially
concurrent if such redemption, repurchase, retirement, defeasance or acquisition occurs not more than 120 days after such sale; provided, however, that the amount of any such net cash proceeds that are utilized for any such redemption, repurchase,
retirement, defeasance or other acquisition will be excluded or deducted from clause (II) of this Section 4.09; 
 (3)
the defeasance, redemption, repurchase, retirement or other acquisition of subordinated Indebtedness or Disqualified Stock of the Company or any Subsidiary Guarantor with the net cash proceeds from a substantially concurrent incurrence of, or in
exchange for, Permitted Refinancing Indebtedness, with an incurrence of Permitted Refinancing Indebtedness being deemed substantially concurrent if such defeasance, redemption, repurchase, retirement or acquisition occurs not more than 120 days
after such incurrence; 
 (4) the payment of any dividend or distribution by a Restricted Subsidiary of the Company to the
holders of such Restricted Subsidiary’s Equity Interests on a pro rata basis or on a basis more favorable to the Company or a Restricted Subsidiary; 

(5) so long as no Default (other than a Reporting Default) or Event of Default shall have occurred and be continuing or would
be caused thereby, the repurchase, redemption or other acquisition or retirement for value (other than for any Equity Interest) of any Equity Interests of the Company or any Restricted Subsidiary of the Company pursuant to any director, employee or
consultant equity subscription agreement or equity option agreement or other employee benefit plan or to satisfy obligations under any Equity Interests option plan or similar arrangement other than any rights described under clause 9(b) below;
provided, however, that the aggregate price paid for all such repurchased, redeemed, acquired or retired Equity Interests may not exceed $3.0 million in any calendar year (with any portion of such $3.0 million amount that is unused in any calendar
year to be carried forward to successive calendar years and added to such amount) plus, to the extent not previously applied or included, 

(a) the cash proceeds received by the Company or any of its Restricted Subsidiaries from sales of Equity Interests of the
Company to employees, consultants or directors of the Company or its Affiliates that occur after November 2, 2010 (to the extent the cash proceeds from the 

  
 54 

 
sale of such Equity Interests have not otherwise been applied to the payment of Restricted Payments by virtue of clause (II)(b) of the first paragraph of this Section 4.09); and 

(b) the cash proceeds of key man life insurance policies received by the Company or any of its Restricted Subsidiaries after
November 2, 2010; 
 (6) any purchase, redemption, defeasance, retirement or other acquisition of Indebtedness that is
subordinated in right of payment to the Notes or a Subsidiary Guarantee pursuant to the provisions of such Indebtedness in the event of a Change of Control or an Asset Sale, in each case plus accrued and unpaid interest thereon, but only if: 

(a) in the case of a Change of Control, the Company has first complied with and fully satisfied its obligations under
Section 4.16; or 
 (b) in the case of an Asset Sale, the Company has complied with and fully satisfied its obligations
in accordance with Section 4.12; 
 (7) the repurchase, redemption or other acquisition for value of Equity Interests of
the Company or any Restricted Subsidiary of the Company representing fractional shares of such Equity Interests in connection with a merger or consolidation involving the Company or such Restricted Subsidiary or any other transaction permitted by
this Indenture; 
 (8) the repurchase, redemption or other acquisition of Equity Interests deemed to occur upon the exercise
or conversion of stock options, warrants or other convertible securities if such Equity Interests represent a portion of the exercise or conversion price thereof; 

(9) the defeasance, repurchase, redemption or other acquisition or retirement for value of (a) any Equity Interests of the
Company or any Restricted Subsidiary of the Company held by any current or former officers, directors or employees of the Company or any of its Restricted Subsidiaries in connection with the exercise or vesting of any equity compensation (including,
without limitation, stock options, restricted stock and phantom stock) in order to satisfy any tax withholding obligation with respect to such exercise or vesting or (b) to the extent otherwise constituting a Restricted Payment, any rights
under any cash and/or equity-settled equity stock appreciation agreement or plan of the Company or any Restricted Subsidiary; 

(10) any payments in connection with a consolidation, merger or transfer of assets in connection with a transaction that is not
prohibited by this Indenture not to exceed $25.0 million in the aggregate after the Original 7.50% Notes Issuance Date; 

  
 55 

 (11) the payment of any dividends or distributions by the Company to the holders
of its Disqualified Stock or preferred stock; provided that such Disqualified Stock or preferred stock is issued on or after the Original 7.50% Notes Issuance Date in accordance with the first paragraph of Section 4.11; 

(12) the declaration and payment of distributions effecting “poison pill” rights plans provided that any securities
or rights so distributed have a nominal Fair Market Value at the time of declaration; 
 (13) (i) cash capital
contributions to, and funding expenses for the benefit of, foreign Unrestricted Subsidiaries or foreign Joint Ventures in an amount not to exceed $50.0 million in the aggregate since November 2, 2010, and (ii) guarantees to fund any such
expenditures; or 
 (14) so long as no Default (other than a Reporting Default) or Event of Default shall have occurred and
be continuing or would be caused thereby, other Restricted Payments in an aggregate amount not to exceed $25.0 million at any time outstanding since November 2, 2010 (after giving effect to any dividends, interest payments, return of capital
and subsequent reduction in the amount of any Investments made pursuant to this clause as a result of the repayment or other disposition thereof, in an amount not to exceed the amount of such Investments previously made pursuant to this clause);
provided, however, that if any Investment pursuant to this clause (14) is made in any Person that is not a Restricted Subsidiary of the Company at the date of the making of such Investment and such Person becomes a Restricted
Subsidiary of the Company after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) of the definition of “Permitted Investments” and shall cease to have been made pursuant to this clause
(14) for so long as such Person continues to be a Restricted Subsidiary. 
 The amount of all Restricted Payments (other
than cash) will be the Fair Market Value on the date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued by the Company or any of its Restricted Subsidiaries, as the case may be, pursuant to the Restricted
Payment. The Fair Market Value of any assets or securities that are required to be valued by this Section 4.09 will be determined, in the case of amounts under $20.0 million, by an officer of the Company and, in the case of amounts over $20.0
million, by the Board of Directors of the Company, whose determination shall be evidenced by a Board Resolution. For purposes of determining compliance with this Section 4.09, in the event that a Restricted Payment meets the criteria of more
than one of the categories of Restricted Payments described in the preceding clauses (1) — (14) or pursuant to the Restricted Payments Basket or as a Permitted Investment, the Company will be permitted to divide or classify (or later
divide, classify or reclassify in whole or in part in its sole discretion) such Restricted Payment in any manner that complies with this Section 4.09. 

  
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 Section 4.10 Limitation on Dividend and Other Payment Restrictions
Affecting Subsidiaries. 
 The Company will not, and will not permit any of its Restricted Subsidiaries to,
directly or indirectly, create or permit to exist or become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary of the Company to: 

(1) pay dividends or make any other distributions on its Capital Stock to the Company or any of its Restricted Subsidiaries, or
pay any Indebtedness or other obligations owed to the Company or any of its Restricted Subsidiaries; 
 (2) make loans or
advances to the Company or any of its Restricted Subsidiaries; or 
 (3) sell, lease or transfer any of its assets to the
Company or any of its Restricted Subsidiaries. 
 However, the preceding restrictions of this Section 4.10 will not
apply to encumbrances or restrictions existing under or by reason of: 
 (1) agreements (including in respect of any Credit
Facilities) as in effect on the Original 7.50% Notes Issuance Date and any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of those agreements (or the agreements referred to in this
clause (1)) or the Indebtedness to which those agreements (or the agreements referred to in this clause (1)) relate, provided that the amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or
refinancings are no more restrictive, taken as a whole, with respect to such dividend, distribution and other payment restrictions than those contained in those agreements on the Original 7.50% Notes Issuance Date, as determined by the Board of
Directors of the Company in its reasonable and good faith judgment; 
 (2) this Indenture, the Notes and the Subsidiary
Guarantees; 
 (3) Applicable Law or similar restriction; 

(4) any agreement or instrument with respect to a Restricted Subsidiary that is not a Restricted Subsidiary of the Company on
the Original 7.50% Notes Issuance Date, in existence at the time such Person becomes a Restricted Subsidiary of the Company and not incurred in connection with, or in contemplation of, such Person becoming a Restricted Subsidiary; provided
that such encumbrances and restrictions are not applicable to the Company or any Restricted Subsidiary or the assets of the Company or any Restricted Subsidiary other than such Subsidiary which is becoming a Restricted Subsidiary; 

(5) any agreement or instrument governing any Permitted Acquisition Indebtedness, so long as such agreement or instrument
(A) was not entered into in contemplation of the acquisition, merger or consolidation transaction related thereto, and (B) is not applicable to any Person, or the assets of any Person, other than the Person, or the assets or Subsidiaries
of the Person, subject to such acquisition, merger or consolidation, so long as the agreement containing such restriction does not violate any other provision of the Indenture; 

  
 57 

 (6) instruments governing Indebtedness of the Company or any of the Subsidiary
Guarantors permitted to be incurred pursuant to an agreement entered into subsequent to the Original 7.50% Notes Issuance Date in accordance with Section 4.11; provided that the provisions relating to such encumbrance or restriction contained
in such instruments are not materially more restrictive, taken as a whole, than the provisions contained in the Credit Agreement and in the Original 7.50% Indenture as in effect on the Original 7.50% Notes Issuance Date, as determined by the Board
of Directors of the Company in its reasonable and good faith judgment; 
 (7) (i) customary non-assignment provisions in
Hydrocarbon purchase and sale or exchange agreements, joint operating agreements, or similar operational agreements or in licenses or leases, or (ii) other encumbrances or restrictions in agreements or instruments relating to specific assets or
property that restrict generally the transfers of such assets or property, provided, however, that such other encumbrances or restrictions do not materially impair the ability of the Company to make scheduled payments on the Notes when due in each
case entered into in the ordinary course of business or customary in the Oil and Gas Business; 
 (8) Capital Lease
Obligations, mortgage financings or purchase money obligations, in each case for property acquired in the ordinary course of business or which is customary in the Oil and Gas Business that impose restrictions on that property purchased or leased of
the nature described in clause (3) of the preceding paragraph; 
 (9) any agreement for the sale or other disposition of
a Restricted Subsidiary of the Company that restricts distributions by that Restricted Subsidiary pending its sale or other disposition; 

(10) Permitted Refinancing Indebtedness, provided that the restrictions contained in the agreements governing such Permitted
Refinancing Indebtedness are not materially more restrictive, taken as a whole, than those contained in the agreements governing the Indebtedness being refinanced, as determined by the Board of Directors of the Company in its reasonable and good
faith judgment; 
 (11) Liens securing Indebtedness otherwise permitted to be incurred under the provisions of
Section 4.14 that limit the right of the debtor to dispose of the assets subject to such Liens; 
 (12) provisions
limiting the disposition or distribution of assets or property in joint venture agreements, asset sale agreements, stock sale agreements and other similar agreements entered into (a) in the ordinary course of business or which are customary in
the Oil and Gas Business, or (b) with the approval of the Company’s Board of Directors, which limitations are applicable only to the assets that are the subject of such agreements; 

  
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 (13) any agreement or instrument relating to any assets acquired after the
Original 7.50% Notes Issuance Date, so long as such encumbrance or restriction relates only to the assets so acquired and is not and was not created in anticipation of such acquisition; 

(14) restrictions on cash, Cash Equivalents or other deposits or net worth imposed by customers or lessors under contracts or
leases entered into in the ordinary course of business or which are customary in the Oil and Gas Business; 
 (15) customary
encumbrances and restrictions contained in agreements of the types described in the definition of “Permitted Business Investments”; 

(16) Hedging Contracts permitted from time to time under this Indenture; 

(17) the issuance of preferred securities by a Restricted Subsidiary of the Company or the payment of dividends thereon in
accordance with the terms thereof; provided that issuance of such preferred securities is permitted pursuant to Section 4.11 and the terms of such preferred securities do not expressly restrict the ability of a Restricted Subsidiary of the
Company to pay dividends or make any other distributions on its Equity Interests (other than requirements to pay dividends or liquidation preferences on such preferred securities prior to paying any dividends or making any other distributions on
such other Equity Interests); 
 (18) any Permitted Investment; and 

(19) restrictions on repayment of Indebtedness and other obligations to, and restrictions on the making of loans, advances,
sales, leases and transfers to, a Restricted Subsidiary that does not directly or indirectly own Capital Stock of the obligor, lender, seller, lessor or transferor, as the case may be. 

Section 4.11 Limitation on Incurrence of Indebtedness and Issuance of Preferred Stock. 

The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue,
assume, guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness, the Company will not issue any Disqualified Stock, and the Company will not permit
any of its Restricted Subsidiaries to issue any Disqualified Stock or preferred securities; provided, however, that the Company and any of the Subsidiary Guarantors may incur Indebtedness and the Company may issue Disqualified Stock and any
Subsidiary Guarantor may issue Disqualified Stock or preferred securities, if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately
preceding the date on 

  
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which such additional Indebtedness is incurred or such preferred securities or Disqualified Stock is or are issued, as the case may be, would have been at least 2.50 to 1.0, determined on a pro
forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been incurred or such preferred securities or Disqualified Stock had been issued, as the case may be, at the beginning of such
four-quarter period. 
 The first paragraph of this Section 4.11 will not prohibit the incurrence of any of the
following items of Indebtedness or the issuance of any Disqualified Stock or any preferred securities described below (collectively, “Permitted Debt”): 

(1) the incurrence by the Company or any of the Subsidiary Guarantors of additional Indebtedness (including letters of credit)
under one or more Credit Facilities, provided that, after giving effect to any such incurrence, the aggregate principal amount of all Indebtedness outstanding under the Company’s and its Restricted Subsidiaries’ Credit Facilities incurred
under this clause (1) (with letters of credit being deemed to have a principal amount equal to the maximum potential liability of the Company and its Subsidiaries thereunder) does not exceed the greater of (a) $600.0 million and
(b) an amount equal to the sum of $250.0 million plus 35.0% of the Company’s Adjusted Consolidated Net Tangible Assets determined as of the date of such incurrence; 

(2) the incurrence by the Company or its Restricted Subsidiaries of the Existing Indebtedness not otherwise referred to in this
definition of “Permitted Debt”; 
 (3) the incurrence by the Company and the Subsidiary Guarantors of Indebtedness
represented by the 7.50% Senior Notes due 2020 issued and sold on the Original 7.50% Notes Issuance Date and the related subsidiary guarantees thereof; 

(4) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness represented by Capital Lease
Obligations, mortgage financings or purchase money obligations, in each case incurred for the purpose of financing all or any part of the purchase price or cost of design, installation, repair, replacement, construction or improvement of property,
plant or equipment used in the business of the Company or such Restricted Subsidiary (whether through the direct purchase of such assets or the Capital Stock of any Person owning such assets (but no other material assets)) and related financing
costs, and Attributable Debt in respect of Sale Leaseback Transactions, including all Permitted Refinancing Indebtedness incurred to extend, refinance, renew, replace, defease or refund any Indebtedness incurred pursuant to this clause (4), provided
that after giving effect to any such incurrence, the aggregate principal amount of all Indebtedness incurred pursuant to this clause (4) and then outstanding does not exceed the greater of (a) $25.0 million and (b) 2.5% of the
Company’s Adjusted Consolidated Net Tangible Assets determined as of the date of such incurrence; 

  
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 (5) the incurrence or issuance by the Company or any of its Restricted
Subsidiaries of Permitted Refinancing Indebtedness in exchange for, or the net proceeds of which shall be used to extend, refinance, renew, replace, defease, discharge, refund or otherwise retire for value, in whole or in part, Indebtedness of the
Company or any of its Restricted Subsidiaries (other than intercompany Indebtedness) or Disqualified Stock of the Company, in each case that was permitted by this Indenture to be incurred pursuant to the first paragraph of this Section 4.11 or
clauses (2), (3), (4), (5) and (12) of this paragraph; 
 (6) the incurrence by the Company or any of its
Restricted Subsidiaries of intercompany Indebtedness between or among any of the Company and any of its Restricted Subsidiaries; provided, however, that: 

(a) if the Company is the obligor on such Indebtedness and a Subsidiary Guarantor is not the obligee, such Indebtedness must
be expressly subordinated to the prior payment in full in cash of all Obligations with respect to the Notes, or if a Subsidiary Guarantor is the obligor on such Indebtedness and neither the Company nor another Subsidiary Guarantor is the obligee,
such Indebtedness must be expressly subordinated to the prior payment in full in cash of all Obligations with respect to the Subsidiary Guarantee of such Subsidiary Guarantor; and 

(b) (i) any subsequent issuance or transfer of Equity Interests that results in any such Indebtedness being held by a Person
other than the Company or a Restricted Subsidiary of the Company and (ii) any sale or other transfer of any such Indebtedness to a Person that is neither the Company nor a Restricted Subsidiary of the Company will be deemed, in each case, to
constitute an incurrence (as of the date of such issuance, sale or transfer) of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be, that was not permitted by this clause (6); 

(7) the incurrence by the Company or any of its Restricted Subsidiaries of obligations under Hedging Contracts; 

(8) the guarantee by the Company or any of its Restricted Subsidiaries of Indebtedness of the Company or any of its Restricted
Subsidiaries that was permitted to be incurred by another provision of this Section 4.11; 
 (9) the incurrence by the
Company or any of its Restricted Subsidiaries of Indebtedness relating to net gas balancing positions arising in the ordinary course of business and consistent with past practice; 

(10) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness in respect of bid, performance, surety
and similar bonds issued for the account of the Company and any of its Restricted Subsidiaries in the ordinary course of business or which are customary in the Oil and Gas Business, including guarantees and obligations of the Company or any of its
Restricted Subsidiaries with respect to letters of credit supporting such obligations (in each case other than an obligation for money borrowed); 

  
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 (11) the issuance by any of the Company’s Restricted Subsidiaries to the
Company or to any of its Restricted Subsidiaries of any preferred securities; provided, however, that: 
 (a) any subsequent
issuance or transfer of Equity Interests that results in any such preferred securities being held by a Person other than the Company or a Restricted Subsidiary of the Company; and 

(b) any sale or other transfer of any such preferred securities to a Person that is not either the Company or a Restricted
Subsidiary of the Company shall be deemed, in each case, to constitute an issuance (as of the date of such issuance, sale or transfer) of such preferred securities by such Restricted Subsidiary that was not permitted by this clause (11); 

(12) Permitted Acquisition Indebtedness; 

(13) the incurrence by the Company or its Restricted Subsidiaries of Indebtedness arising from the honoring by a bank or other
financial institution of a check, draft or similar instrument inadvertently drawn against insufficient funds in the ordinary course of business; 

(14) the incurrence by the Company or its Restricted Subsidiaries of Indebtedness consisting of the financing of insurance
premiums in customary amounts consistent with the operations and business of the Company and its Restricted Subsidiaries; 

(15) accounts payable or other obligations of the Company or any of its Restricted Subsidiaries to trade creditors created or
assumed by the Company or such Restricted Subsidiary in the ordinary course of business or which is customary in the Oil and Gas Business in connection with the obtaining of goods or services; 

(16) the incurrence by the Company or any of its Restricted Subsidiaries of Indebtedness arising from agreements of the Company
or any Restricted Subsidiary of the Company providing for indemnification, adjustment of purchase price, earn outs, or similar obligations, in each case, incurred or assumed in connection with the disposition or acquisition of any business, assets
or Capital Stock of a Subsidiary in a transaction permitted by this Indenture, other than guarantees of Indebtedness incurred or assumed by any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing
such acquisition; 
 (17) the guarantee by the Company described in clause (13) of Section 4.09; 

  
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 (18) the incurrence by the Company or any of its Restricted Subsidiaries of
additional Indebtedness or the issuance by the Company of additional Disqualified Stock or the issuance by any Restricted Subsidiary of preferred securities, provided that, after giving effect to any such incurrence or issuance, the aggregate
principal amount of all Indebtedness, Disqualified Stock and preferred securities incurred or issued under this clause (18) and then outstanding does not exceed the greater of (a) $25.0 million and (b) 2.5% of the Company’s
Adjusted Consolidated Net Tangible Assets determined as of the date of such incurrence or issuance; and 
 (19) Indebtedness
of the Company or any Restricted Subsidiary to the extent the proceeds are deposited for the purpose of defeasing the Notes pursuant to Section 8.01. 

For purposes of determining compliance with this Section 4.11, in the event that an item of Indebtedness or Disqualified
Stock or preferred securities meets the criteria of more than one of the categories of Permitted Debt described in clauses (1) through (19) above, or is entitled to be incurred or issued pursuant to the first paragraph of this
Section 4.11, the Company will be permitted to divide and classify (or later classify, reclassify or re-divide in whole or in part in its sole discretion) such item of Indebtedness or Disqualified Stock or preferred securities in any manner
that complies with this Section 4.11, provided that any Indebtedness under the Credit Agreement that was incurred on or prior to, and outstanding on the Original 7.50% Notes Issuance Date shall be deemed to have been initially incurred on the
Original 7.50% Notes Issuance Date pursuant to clause (1) of the definition of “Permitted Debt” rather than the first paragraph of this Section 4.11. For purposes of determining any particular amount of Indebtedness under this
covenant, (i) guarantees of, or obligations in respect of letters of credit relating to, Indebtedness otherwise included in the determination of such amount shall not also be included except to the extent that such Indebtedness exceeds such
guarantee or letter of credit and (ii) if obligations in respect of letters of credit are incurred pursuant to a Credit Facility and are being treated as incurred pursuant to clause (1) of the definition of “Permitted Debt” and
the letters of credit relate to other Indebtedness, then such other Indebtedness shall not be included except to the extent that such Indebtedness exceeds such letter of credit. 

The accrual of interest, accrual of dividends, the accretion or amortization of original issue discount, the payment of
interest on any Indebtedness in the form of additional Indebtedness, and the payment of dividends on Disqualified Stock or preferred securities in the form of additional shares of Disqualified Stock or preferred securities will not be deemed to be
an incurrence of Indebtedness or an issuance of Disqualified Stock or preferred securities for purposes of this Section 4.11, provided, in each such case, that the amount thereof is included in Fixed Charges of the Company as accrued. 

For purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of Indebtedness, the U.S.
dollar-equivalent principal amount of Indebtedness denominated in a foreign currency will be calculated based on the relevant currency exchange rate in effect on the date the Indebtedness was incurred, in

  
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the case of term Indebtedness, or first committed, in the case of revolving credit Indebtedness; provided that if such Indebtedness is incurred to refinance other Indebtedness denominated in a
foreign currency, and the refinancing would cause the applicable U.S. dollar-dominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of the refinancing, such U.S. dollar-dominated restriction
shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced (plus all accrued and unpaid interest on such Indebtedness, and the
amount of all fees, expenses and premiums incurred in connection therewith). Notwithstanding any other provision of this Section 4.11, the maximum amount of Indebtedness that the Company or any Restricted Subsidiary may incur pursuant to this
Section 4.11 shall not be deemed to be exceeded solely as a result of fluctuations in the exchange rate of currencies. The principal amount of any Indebtedness incurred to refinance other Indebtedness, if incurred in a different currency from
the Indebtedness being refinanced, will be calculated based on the currency exchange rate applicable to the currencies in which the refinancing Indebtedness is denominated that is in effect on the date of such refinancing. 

 

	 	Section 4.12	Limitation on Asset Sales. 

 The Company will not, and will not
permit any of its Restricted Subsidiaries to, consummate an Asset Sale unless: 
 (1) the Company (or the Restricted
Subsidiary, as the case may be) receives consideration (including by way of relief from, or any Person assuming responsibilities for, any liabilities, contingent or otherwise), as determined (on the date of contractually agreeing to such Asset Sale)
in good faith by senior management of the Company or, if the consideration with respect to such Asset Sale exceeds $25 million, the Board of Directors of the Company, at least equal to the Fair Market Value of the assets or Equity Interest issued or
sold or otherwise disposed of; and 
 (2) at least 75% of the aggregate consideration to be received by the Company and its
Restricted Subsidiaries in such Asset Sale (determined on the date of contractually agreeing to such Asset Sale) is in the form of cash or Cash Equivalents. For purposes of this provision, each of the following will be deemed to be cash: 

(a) any liabilities, as shown on the Company’s or such Restricted Subsidiary’s most recent balance sheet, of the
Company or any Restricted Subsidiary (other than contingent liabilities and liabilities that are by their terms subordinated in right of payment to the Notes or any Subsidiary Guarantee) that are assumed by the transferee of any such assets pursuant
to a customary novation agreement that releases the Company or such Restricted Subsidiary from further liability; 

  
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 (b) any securities, notes or other obligations received by the Company or any
such Restricted Subsidiary from such transferee that are, within 180 days after the Asset Sale, converted by the Company or such Subsidiary into cash or Cash Equivalents, to the extent of the cash received in that conversion; 

(c) accounts receivable of a business retained by the Company or any of its Restricted Subsidiaries, as the case may be,
following the sale of such business, provided that such accounts receivable (i) are not past due more than 90 days and (ii) do not have a payment date greater than 120 days from the date of the invoices creating such accounts
receivable; and 
 (d) solely in the case of any Asset Sale of Production Facility or Pipeline Assets, the Company or the
Restricted Subsidiary receives Permitted MLP Securities; 
 provided that in the case of any Asset Sale pursuant to a condemnation,
appropriation or similar taking, including by deed in lieu of condemnation, such Asset Sale shall not be required to satisfy the requirements of items (1) and (2) above. Notwithstanding the preceding, the 75% limitation referred to above
shall be deemed satisfied with respect to any Asset Sale in which the cash or Cash Equivalents portion of the consideration received therefrom, determined in accordance with the preceding provision on an after-tax basis, is equal to or greater than
what the after-tax proceeds would have been had such Asset Sale complied with the aforementioned 75% limitation. 
 Within
365 days after the receipt of any Net Proceeds from an Asset Sale, the Company (or the applicable Restricted Subsidiary, as the case may be) may apply those Net Proceeds at its option to any combination of the following: 

(1) to prepay, repay, redeem, defease or repurchase Senior Debt; 

(2) to invest in or acquire Additional Assets; or 

(3) to make capital expenditures in respect of the Company’s or its Restricted Subsidiaries’ Oil and Gas Business.

 The requirement of clause (2) or (3) of the preceding paragraph shall be deemed to be satisfied if a bona fide
binding contract committing to make the investment, acquisition or expenditure referred to therein is entered into by the Company or any of its Restricted Subsidiaries with a Person other than an Affiliate of the Company within the time period
specified in the preceding paragraph and such Net Proceeds are subsequently applied in accordance with such contract within six months following the date such agreement is entered into. 

Pending the final application of any Net Proceeds, the Company or any Restricted Subsidiary of the Company may invest the Net
Proceeds in any manner that is not prohibited by this Indenture. Any Net Proceeds from Asset Sales that are not applied or invested as provided in the preceding paragraph will constitute “Excess Proceeds.” 

  
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 On the 366th day after an Asset Sale (or, at the Company’s option, any
earlier date), if the aggregate amount of Excess Proceeds then exceeds $20.0 million, the Company will make an Asset Sale Offer to all Holders of Notes, and to all holders of Pari Passu Indebtedness then outstanding, to purchase the maximum
principal amount of Notes and such Pari Passu Indebtedness that may be purchased out of the Excess Proceeds. The offer price in any Asset Sale Offer will be equal to 100% of principal amount plus accrued and unpaid interest, if any, thereon to the
Settlement Date, subject to the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the Settlement Date, and will be payable in cash. If any Excess Proceeds remain after
consummation of an Asset Sale Offer, the Company may use those Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If the aggregate principal amount of Notes and Pari Passu Indebtedness tendered into such Asset Sale Offer
exceeds the amount of Excess Proceeds, the Trustee will select the Notes and such Pari Passu Indebtedness to be purchased on a pro rata basis (with such adjustments as may be deemed appropriate by the Trustee so that only Notes in denominations of
$2,000, or integral multiples of $1,000 in excess of $2,000, shall be purchased). Upon surrender of a Note that is repurchased in part, the Company shall issue in the name of the applicable Holder and the Trustee shall authenticate for such Holder
at the expense of the Company a Note equal in principal amount to the non-repurchased portion of the Note surrendered. Upon completion of each Asset Sale Offer, the amount of Excess Proceeds will be reset at zero. 

The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and
regulations thereunder to the extent those laws and regulations are applicable in connection with each repurchase of Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with the
provisions of this Section 4.12, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under such provisions by virtue of such compliance. 

Prior to complying with the Asset Sale Offer provisions of this Section 4.12, but in any event no later than the date of
the Asset Sale Offer, the Company or any Subsidiary Guarantor must either repay all of its other outstanding Senior Debt or obtain the requisite consents, if any, under all agreements governing such Senior Debt to permit the repurchase of Notes
required by the provisions of this Section 4.12. 
 For purposes of this Section 4.12, references to the
application of Net Proceeds include the application or investment of cash in an amount equal to such Net Proceeds. 

  
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 Section 4.13 Limitation on Transactions with Affiliates. 

The Company will not, and will not permit any of its Restricted Subsidiaries to, make any payment to, or sell, lease, transfer
or otherwise dispose of any of its assets to, or purchase any assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Company
(each, an “Affiliate Transaction”), unless: 
 (1) the Affiliate Transaction is on terms that are not materially
less favorable to the Company or the relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person or, if in the good faith judgment of the
Company’s Board of Directors, no comparable transaction is available with which to compare such Affiliate Transaction, such Affiliate Transaction is otherwise fair to the Company or the relevant Restricted Subsidiary from a financial point of
view; and 
 (2) the Company delivers to the Trustee: 

(a) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration to
or from an Affiliate in excess of $15.0 million, an Officers’ Certificate certifying that such Affiliate Transaction complies with this Section 4.13; and 

(b) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration to
or from an Affiliate in excess of $25.0 million, a resolution of the Board of Directors of the Company set forth in an Officers’ Certificate certifying that such Affiliate Transaction complies with this Section 4.13 and that such Affiliate
Transaction has been approved by a majority of the disinterested members of the Board of Directors of the Company. 
 The
following items will not be deemed to be Affiliate Transactions and, therefore, will not be subject to the provisions of the prior paragraph of this Section 4.13: 

(1) any employment agreement or arrangement, equity award, equity option and/or cash or equity settled equity appreciation
agreement or plan, employee benefit plan, officer or director indemnification agreement, severance agreement, consulting agreement or other compensation plan or arrangement entered into by the Company or any of its Restricted Subsidiaries in the
ordinary course of business or which is customary in the Oil and Gas Business, and payments, awards, grants or issuances of securities pursuant thereto; 

(2) transactions between or among any of the Company and its Restricted Subsidiaries (or any entity that becomes a Restricted
Subsidiary as a result of such transaction); 
 (3) transactions with a Person (other than an Unrestricted Subsidiary of the
Company) that is an Affiliate of the Company solely because the Company owns, directly or indirectly, an Equity Interest in, or otherwise controls, such Person or has nominated or appointed a person to the Board of Directors of that Person; 

  
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 (4) customary compensation, indemnification and other benefits made available to
officers, directors, employees or consultants of the Company or a Restricted Subsidiary or Affiliate of the Company, including reimbursement or advancement of out-of-pocket expenses and provisions of officers’ and directors’ liability
insurance; 
 (5) sales of Equity Interests (other than Disqualified Stock) to, or receipt of capital contributions from,
Affiliates of the Company and any dividend or distribution payable in Equity Interests (other than Disqualified Stock); 

(6) any Permitted Investments or Restricted Payments that are permitted by Section 4.09 (or a transaction that would
constitute a Restricted Payment but for an exclusion from the definition thereof); 
 (7) transactions between the Company or
any of its Restricted Subsidiaries and any Person that would not otherwise constitute an Affiliate Transaction except for the fact that one director of such other Person is also a director of the Company or such Restricted Subsidiary, as applicable;
provided that such director abstains from voting as a director of the Company or such Restricted Subsidiary, as applicable, on any matter involving such other Person; 

(8) the existence of, and the performance of obligations of the Company or any of its Restricted Subsidiaries under the terms
of, any written agreement to which the Company or any of its Restricted Subsidiaries is a party on the Original 7.50% Notes Issuance Date, as such agreements may be amended, modified, supplemented or replaced from time to time; provided, however,
that any amendment, modification, supplement or replacement entered into after the Original 7.50% Issuance Date will be permitted to the extent that its terms are not materially more disadvantageous, taken as a whole, to the Holders of the Notes
than the terms of the agreements in effect on the Original 7.50% Issuance Date (as conclusively evidenced by a Board Resolution); 

(9) any transaction in which the Company or any of its Restricted Subsidiaries, as the case may be, delivers to the Trustee an
opinion from an accounting, appraisal or investment banking firm of national standing stating that such transaction is fair to the Company or such Restricted Subsidiary from a financial point of view or that such transaction meets the requirements
of clause (1) of the first paragraph of this Section 4.13; 
 (10) (a) guarantees by the Company or any of its
Restricted Subsidiaries of performance of obligations of the Company’s Unrestricted Subsidiaries in the ordinary course of business or which is customary in the Oil and Gas Business, and (b) pledges by the Company or any Restricted
Subsidiary of the Company of Equity Interests in Unrestricted Subsidiaries for the benefit of lenders or other creditors of the Company’s Unrestricted Subsidiaries; 

  
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 (11) any Affiliate Transaction with a Person in its capacity as a holder of
Indebtedness or Capital Stock of the Company or any Restricted Subsidiary of the Company if such Person is treated no more favorably than the other holders of Indebtedness or Capital Stock of the Company or such Restricted Subsidiary; 

(12) transactions with joint venture partners, customers, clients, suppliers or purchasers or sellers of goods or services, or
lessors or lessees of property, in each case in the ordinary course of business or which is customary in the Oil and Gas Business and otherwise in compliance with the terms of this Indenture similar to those contained in similar contracts entered
into by the Company or any Restricted Subsidiary and third parties, or if neither the Company nor any Restricted Subsidiary has entered into a similar contract with a third party, which are, in the aggregate (taking into account all the costs and
benefits associated with such transactions), not materially less favorable to the Company and its Restricted Subsidiaries than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an
unrelated Person, in the good faith determination of the Company’s Board of Directors or any executive officer of the Company involved in or otherwise familiar with such transaction; 

(13) transactions entered into by a Person prior to the time such Person becomes a Subsidiary of the Company or is merged or
consolidated into the Company or a Subsidiary of the Company (provided such transaction is not entered into in contemplation of such event); 

(14) dividends and distributions to the Company and its Restricted Subsidiaries by any Unrestricted Subsidiary or Joint
Venture; 
 (15) transactions with Avista or any of its Subsidiaries entered into in connection with the Avista Joint
Venture; provided such transactions are on terms that are not materially less favorable, taken as a whole, to the Company or the relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Company or
such Restricted Subsidiary with an unrelated Person; and 
 (16) arrangements relating to sale of the Company’s
interests in Pinnacle Gas Resources, Inc. or other management of the Company’s investment in that company; provided that such arrangements are on terms that are not materially less favorable, taken as a whole, to the Company or the relevant
Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person. 

Section 4.14 Limitation on Liens. 

The Company will not, and will not permit any of its Restricted Subsidiaries to, create, incur, assume or otherwise cause or
suffer to exist or become effective any Lien of 

  
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any kind (other than Permitted Liens) upon any of its assets (whether now owned or hereafter acquired), securing Indebtedness, unless the Notes or the Subsidiary Guarantee of such Restricted
Subsidiary, as applicable, is secured on an equal and ratable basis with (or, in the case of obligations subordinated in right of payment to the Notes or such Subsidiary Guarantee, as the case may be, on a basis senior (to at least the same extent
as the Notes are senior in right of payment) to) the obligations so secured until such time as such obligations are no longer secured by a Lien. 

Any Lien on any assets of the Company or any of its Restricted Subsidiaries created for the benefit of the Holders of the Notes
pursuant to the preceding paragraph shall provide by its terms that such Lien shall be automatically and unconditionally released and discharged at such time as there are no other Liens of any kind (other than Permitted Liens) on such assets
securing Indebtedness. 
 Section 4.15 Additional Subsidiary Guarantees. 

If, after the Original 7.50% Notes Issuance Date, any Restricted Subsidiary of the Company that is not already a Subsidiary
Guarantor guarantees any other Indebtedness of the Company or any Indebtedness of any Restricted Subsidiary in excess of the De Minimis Guaranteed Amount, or any Restricted Subsidiary, if not then a Subsidiary Guarantor, incurs any Indebtedness
under any of the Credit Facilities, then in either case that Subsidiary shall become a Subsidiary Guarantor by executing a supplemental indenture substantially in the form of Annex B hereto and delivering it to the Trustee within 90 days of the date
on which it guaranteed or incurred such Indebtedness, as the case may be, together with any Officers’ Certificate or Opinion of Counsel required by Section 9.06. Notwithstanding the preceding, any Subsidiary Guarantee of a Restricted
Subsidiary that was incurred pursuant to this Section 4.15 shall provide by its terms that it shall be automatically and unconditionally released at such time as such Subsidiary Guarantor ceases both (x) to guarantee any other Indebtedness
of the Company and any Indebtedness of any other Restricted Subsidiary and (y) to be an obligor with respect to any Indebtedness under any Credit Facility. 

Each Subsidiary Guarantee shall also be released in accordance with Article X. 

Section 4.16 Offer to Repurchase Upon Change of Control 

Within 30 days following the occurrence of a Change of Control, the Company shall make an offer (a “Change of Control
Offer”) to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess of $2,000) of each Holder’s Notes at a purchase price (the “Change of Control Payment”) in cash equal to 101% of the aggregate
principal amount of Notes repurchased, plus accrued and unpaid interest, if any, thereon to the date of settlement (the “Change of Control Settlement Date”), subject to the right of Holders of record on the relevant record date to receive
interest due on an interest payment date that is on or prior to the Change of Control Settlement Date. Within 30 days following a Change of Control, the Company shall provide a notice of the Change of Control Offer to each Holder and the Trustee
describing the transaction or transactions that constitute the Change of Control and stating: 
 (a) that the Change of
Control Offer is being made pursuant to this Section 4.16 and that all Notes validly tendered and not withdrawn pursuant to the Change of Control Offer will be accepted for payment; 

  
 70 

 (b) the purchase price and the purchase date, which shall be no earlier than 30
days and no later than 60 days from the date such notice is provided (the “Change of Control Purchase Date”); 

(c) that the Change of Control Offer will expire as of the time specified in such notice on the Change of Control Purchase Date
and that the Company shall pay the Change of Control Purchase Price for all Notes purchased as of the Change of Control Purchase Date promptly thereafter on the Change of Control Settlement Date; 

(d) that any Note not tendered will continue to accrue interest; 

(e) that, unless the Company defaults in the payment of the Change of Control Payment, all Notes accepted for payment pursuant
to the Change of Control Offer shall cease to accrue interest after the Change of Control Settlement Date; 
 (f) that
Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender the Notes, properly endorsed for transfer, together with the form entitled “Option of Holder to Elect Purchase” on the reverse
of the Notes completed and such customary documents as the Company may reasonably request, to the Paying Agent at the address specified in the notice prior to the termination of the Change of Control Offer on the Change of Control Purchase Date;

 (g) that Holders will be entitled to withdraw their election if the Paying Agent receives, prior to the termination of the
Change of Control Offer, a telegram, facsimile transmission or letter setting forth the name of the Holder, the principal amount of Notes delivered for purchase, and a statement that such Holder is withdrawing its election to have the Notes
purchased; and 
 (h) that Holders whose Notes are being purchased only in part will be issued Notes equal in principal
amount to the unpurchased portion of the Notes surrendered, which unpurchased portion must be equal to $2,000 in principal amount or an integral multiple of $1,000 in excess of $2,000. 

If any of the Notes subject to a Change of Control Offer is in the form of a Global Note, then the Company shall modify such
notice to the extent necessary to accord with the procedures of the Depositary applicable to repurchases. Further, the Company shall comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent such laws and regulations are applicable in connection with the repurchase of Notes as a result of a Change of Control. To the extent that the provisions of any securities laws or regulations conflict with the provisions of
this Section 4.16, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under such provisions by virtue of such compliance. 

  
 71 

 On the Change of Control Purchase Date, the Company shall, to the extent lawful,
accept for payment all Notes or portions thereof (in integral multiples of $1,000) properly tendered pursuant to the Change of Control Offer. Promptly thereafter on the Change of Control Settlement Date, the Company shall: 

(i) deposit with the Paying Agent by 11:00 a.m., New York City time, an amount equal to the Change of Control Payment in
respect of all Notes or portions thereof so tendered; and 
 (ii) deliver or cause to be delivered to the Trustee the Notes
so accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Company. 

On the Change of Control Settlement Date, the Paying Agent shall mail to each Holder of Notes properly tendered the Change of
Control Payment for such Notes (or, if all the Notes are then in global form, make such payment through the facilities of the Depositary) and the Trustee shall authenticate and mail (or cause to be transferred by book entry) to each Holder a new
Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided, however, that each such Note will be in a principal amount of $2,000 or an integral multiple of $1,000 in excess of $2,000. The Company shall
publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Settlement Date. 

Prior to complying with any of the provisions of this Section 4.16, but in any event no later than the Change of Control
Purchase Date, the Company or any Subsidiary Guarantor shall either repay all of its other outstanding Senior Debt or obtain the requisite consents, if any, under all agreements governing such Senior Debt to permit the repurchase of Notes required
by this Section 4.16. 
 The Company shall not be required to make a Change of Control Offer following a Change of
Control if (1) a third party makes the Change of Control Offer in the manner, at the time and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the Company and purchases
all Notes properly tendered and not withdrawn under such Change of Control Offer or (2) notice of redemption of all Notes has been given pursuant to Section 3.12 unless there is a default in payment of the applicable Redemption Price. 

A Change of Control Offer may be made in advance of a Change of Control, and conditioned upon the occurrence of such Change of
Control. 
 In the event that Holders of not less than 90% of the aggregate principal amount of the Outstanding Notes accept
a Change of Control Offer and the Company purchases all of the Notes held by such Holders, the Company will have the right, upon not less than 30 nor more than 60 days’ prior notice, given not more than 30 days following the purchase pursuant
to such Change of Control Offer, to redeem all of the Notes that 

  
 72 

 
remain Outstanding following such purchase at a purchase price equal to the Change of Control Payment plus, to the extent not included in the Change of Control Payment, accrued and unpaid
interest on the Notes that remain Outstanding, to the date of redemption (subject to the right of Holders on the relevant record date to receive interest due on the relevant interest payment date that is on or prior to such date of redemption). 

Section 4.17 No Partial Inducements. 

The Company shall not, and the Company shall not permit any of its Subsidiaries, either directly or indirectly, to pay (or
cause to be paid) any consideration, whether by way of interest, fee or otherwise, to any Beneficial Owner or Holder of the Notes for or as an inducement to any consent to any waiver, supplement or amendment of any terms or provisions of this
Indenture or the Notes, unless such consideration is offered to be paid (or agreed to be paid) to all Beneficial Owners and Holders of the Notes which so consent in the time frame set forth in the solicitation documents relating to such consent.

 Section 4.18 Designation of Restricted and Unrestricted Subsidiaries. 

The Board of Directors of the Company may designate any Restricted Subsidiary of the Company to be an Unrestricted Subsidiary
if that designation would not cause a Default. If a Restricted Subsidiary of the Company is designated as an Unrestricted Subsidiary, the aggregate Fair Market Value of all outstanding Investments owned by the Company and its Restricted Subsidiaries
in the Subsidiary properly designated as an Unrestricted Subsidiary will be deemed to be an Investment made as of the time of the designation and will reduce the amount available for Restricted Payments under Section 4.09 or represent Permitted
Investments, as determined by the Company. That designation shall only be permitted if the Investment would be permitted at that time and if the Subsidiary so designated otherwise meets the definition of an Unrestricted Subsidiary. 

The Board of Directors of the Company may at any time designate any Unrestricted Subsidiary of the Company to be a Restricted
Subsidiary of the Company; provided that such designation will be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of the Company of any outstanding Indebtedness of such Unrestricted Subsidiary and such designation will only be
permitted if (1) such Indebtedness is permitted under Section 4.11, calculated on a pro forma basis as if such designation had occurred at the beginning of the four-quarter reference period, and (2) no Default (other than a Reporting
Default) or Event of Default would be in existence following such designation. 
 Section 4.19 Reports

 (a) Whether or not required by the SEC, so long as any Notes are Outstanding, the Company will file with the SEC for
public availability within the time periods specified in the SEC’s rules and regulations taking into account any extension of time, deemed filing date or safe harbor contemplated or provided for by Rule 12b-25, Rule 13a-11(c) and Rule 15d-11(c)
under the Exchange Act or General Instruction 

  
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I.A.3(b) of Form S-3 under the Securities Act, and successor provisions (unless the SEC will not accept such a filing, in which case the Company will furnish to the Trustee and, upon its prior
request, to any of the Holders of the Notes, within the time periods specified in the SEC’s rules and regulations): 

(1) all quarterly and annual financial information with respect to the Company and its Subsidiaries that would be required to
be contained in a filing with the SEC on Forms 10-Q and 10-K if the Company were required to file such Forms, including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect to the
annual information only, a report on the annual financial statements by the Company’s certified independent accountants; and 

(2) all current reports that would be required to be filed with the SEC on Form 8-K if the Company were required to file such
reports. 
 In addition, the Company agrees that, for so long as any Notes remain outstanding and are “restricted
securities” within the meaning of Rule 144(a)(3), if at any time it is not required to file the reports required by the preceding paragraph with the SEC, it will furnish to the Holders of the Notes and to securities analysts and prospective
investors in the Notes, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. The Company will be deemed to have provided such information to the Trustee and the Holders of the Notes if it
has filed such reports or reports containing such information with the SEC via the EDGAR filing system and such reports are publicly available. The Company shall at all times comply with TIA § 314(a). 

(b) In the event that: (1) the rules and regulations of the SEC permit the Company and any direct or indirect parent
company of the Company to report at such parent entity’s level on a consolidated basis and such parent entity of the Company is not engaged in any business in any material respect other than incidental to its ownership, directly or indirectly,
of the Capital Stock of the Company, or (2) any direct or indirect parent of the Company becomes a guarantor of the Notes, such consolidated reporting at such parent entity’s level in a manner consistent with that described in this
Section 4.19 for the Company will satisfy this Section 4.19; provided that, such financial information is accompanied by consolidating information that explains in reasonable detail the differences between the information relating to such
direct or indirect parent and any of its Subsidiaries other than the Company and its Subsidiaries, on the one hand, and the information relating to the Company and its Subsidiaries on a stand alone basis, on the other hand. 

(c) Delivery of reports, information and documents to the Trustee under this Section 4.19 is for informational purposes
only and the Trustee’s receipt of the foregoing shall not constitute constructive notice of any information contained therein or determinable from information contained therein. 

  
 74 

 SECTION 209 Amendment to Events of Default. 

(a) Sections 6.01 and 6.02 of the Original Indenture are hereby amended and restated in their entirety as follows with respect to the Notes:

 Section 6.01 Events of Default. 

An “Event of Default” occurs if one of the following shall have occurred and be continuing (whatever the reason for
such Event of Default and whether it shall be involuntary or be effected by operation of law): 
 (1) the Company defaults in
the payment when due of interest with respect to the Notes, and such default continues for a period of 30 days; 
 (2) the
Company defaults in the payment of the principal of or premium, if any, on the Notes when due at their Stated Maturity, upon optional redemption, upon required repurchase, upon acceleration or otherwise; 

(3) the Company fails to comply with the provisions of Section 5.01 hereof or to consummate a purchase of Notes when
required pursuant to the provisions of Section 3.13, 4.12 or 4.16 hereof; 
 (4) the Company fails to comply with the
provisions of Section 4.19 for 120 days after notice to the Company by the Trustee or the Holders of at least 25% in principal amount of the Notes then Outstanding of such failure; 

(5) the Company fails to comply with any other covenant or other agreement in this Indenture or the Notes (including the
provisions of Section 3.13, 4.12 or 4.16 to the extent not described in clause (3) of this Section 6.01) for 60 days after notice to the Company by the Trustee or the Holders of at least 25% in principal amount of the Notes then
Outstanding of such failure; 
 (6) a default occurs under any mortgage, indenture or instrument under which there may be
issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted Subsidiaries), whether such
Indebtedness or guarantee now exists or is created after the Original 7.50% Notes Issuance Date, if such default: 
 (A) is
caused by a failure to pay principal of, or interest or premium, if any, on such Indebtedness prior to the expiration of any grace period provided in such Indebtedness (a “Payment Default”); or 

(B) results in the acceleration of such Indebtedness prior to its Stated Maturity 

and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under
which 

  
 75 

 
there has been a Payment Default or the maturity of which has been so accelerated, aggregates $30.0 million or more; provided, however, that if any such default is cured or waived or any such
acceleration rescinded, or such Indebtedness is repaid and the Notes have not been accelerated, such Event of Default shall be automatically rescinded, so long as such rescission does not conflict with any judgment or decree; 

(7) the Company or any of its Restricted Subsidiaries fails to pay final judgments aggregating in excess of $30.0 million (to
the extent not covered by insurance by a reputable and creditworthy insurer as to which the insurer has not disclaimed coverage), which judgments are not paid, discharged or stayed for a period of 60 consecutive days; 

(8) (A) any Subsidiary Guarantee is held in any judicial proceeding to be unenforceable or invalid or ceases for any reason to
be in full force and effect or (B) any Subsidiary Guarantor, or any Person acting on behalf of any Subsidiary Guarantor, denies or disaffirms its obligations under its Subsidiary Guarantee, except, in each case, by reason of the release of such
Subsidiary Guarantee in accordance with the provisions of this Indenture; and 
 (9) the Company, any of the Company’s
Restricted Subsidiaries that is a Significant Subsidiary of the Company or any group of Restricted Subsidiaries of the Company that, taken as a whole, would constitute a Significant Subsidiary of the Company, pursuant to or within the meaning of
Bankruptcy Law: 
 (A) commences a voluntary case, 

(B) consents in writing to the entry of an order for relief against it in an involuntary case, 

(C) consents in writing to the appointment of a Custodian of it or for all or substantially all of its property, 

(D) makes a general assignment for the benefit of its creditors, or 

(E) admits in writing it generally is not paying its debts as they become due; or 

(10) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(A) is for relief against the Company, any of the Company’s Restricted Subsidiaries that is a Significant Subsidiary of
the Company or any group of Restricted Subsidiaries of the Company that, taken as a whole, would constitute a Significant Subsidiary of the Company, in an involuntary case; 

  
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 (B) appoints a Custodian (x) of the Company, any of the Company’s
Restricted Subsidiaries that is a Significant Subsidiary of the Company or any group of Restricted Subsidiaries of the Company that, taken as a whole, would constitute a Significant Subsidiary of the Company, or (y) for all or substantially all
of the property of the Company, any of the Company’s Restricted Subsidiaries that is a Significant Subsidiary of the Company or any group of Restricted Subsidiaries of the Company, that, taken together, would constitute a Significant Subsidiary
of the Company; or 
 (C) orders the liquidation of the Company, any of the Company’s Restricted Subsidiaries that is a
Significant Subsidiary of the Company or any group of Restricted Subsidiaries of the Company that, taken as a whole, would constitute a Significant Subsidiary of the Company; 

and the order or decree remains unstayed and in effect for 60 consecutive days. 

Section 6.02 Acceleration. 

If any Event of Default occurs and is continuing, the Trustee, by notice to the Company, or the Holders of at least 25% in
principal amount of the then Outstanding Notes, by notice to the Company and the Trustee, may declare all the Notes to be due and payable immediately. Upon any such declaration, the Notes shall become due and payable immediately, together with all
accrued and unpaid interest, if any, and premium, if any, thereon. Notwithstanding the preceding, if an Event of Default specified in clause (9) or (10) of Section 6.01 hereof occurs with respect to the Company, any of the
Company’s Restricted Subsidiaries that is a Significant Subsidiary of the Company or any group of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary of the Company, all Outstanding Notes shall
become due and payable immediately without further action or notice, together with all accrued and unpaid interest, if any, and premium, if any, thereon. The Holders of a majority in principal amount of the then Outstanding Notes by notice to the
Trustee may on behalf of all of the Holders rescind an acceleration and its consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except with respect to nonpayment of principal, interest
or premium, if any, that have become due solely because of the acceleration) have been cured or waived. 
 (b) Section 6.04 of the
Original Indenture is hereby amended and restated in its entirety as follows: 
 Section 6.04 Waiver of Past
Defaults. 
 Holders of a majority in principal amount of the then Outstanding Notes by notice to the Trustee may
on behalf of the Holders of all of the Notes waive (including, without limitation, in connection with a purchase of, or tender offer or exchange offer for, Notes) any existing Default or Event of Default and its consequences hereunder, except
(i) a 

  
 77 

 
continuing Default or Event of Default in the payment of the principal of, or interest or premium, if any, on, the Notes or (ii) as provided in Section 9.02. Upon any such waiver, such
Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair any right consequent
thereon. 
 (c) Section 6.05 of the Original Indenture is hereby amended by replacing the words “clause (1), (2), (3) or
(7) of Section 6.01” with the words “Section 6.01” in the first sentence thereof. 
  

	SECTION 210	Guarantees. 

 (a) Section 10.01(d) of the Original Indenture is amended to replace
“The obligations of” at the beginning of such section with “To the fullest extent allowed under Applicable Law, the obligations of”. 

(b) Section 10.01(e) of the Original Indenture is amended to replace “Each of the Subsidiary Guarantors hereby” at the
beginning of such section with “To the fullest extent allowed under Applicable Law, each of the Subsidiary Guarantors hereby”. 

(c) Section 10.04 of the Original Indenture is hereby amended and restated in its entirety as follows with respect to the Notes: 

Section 10.04 Releases of Subsidiary Guarantees. 

Notwithstanding any other provisions of this Indenture, the Subsidiary Guarantee of a Subsidiary Guarantor shall be released:
(1) in connection with any sale or other disposition of all or substantially all of the assets of such Subsidiary Guarantor (including by way of merger or consolidation) to a Person that is not (either before or after giving effect to such
transaction) the Company or a Restricted Subsidiary of the Company, if the sale or other disposition complies with Section 4.12; (2) in connection with any sale or other disposition of the Capital Stock of such Subsidiary Guarantor to a
Person that is not (either before or after giving effect to such transaction) the Company or a Restricted Subsidiary of the Company, if the sale or other disposition complies with Section 4.12 and such Subsidiary Guarantor no longer qualifies
as a Subsidiary as a result of such disposition; (3) if such Subsidiary Guarantor is a Restricted Subsidiary and the Company designates such Subsidiary Guarantor as an Unrestricted Subsidiary in accordance with Section 4.18 of this
Indenture; (4) upon legal or covenant defeasance or discharge in accordance with Article VIII; (5) upon the liquidation or dissolution of such Subsidiary Guarantor provided no Default or Event of Default has occurred or is continuing;
(6) at such time as such Subsidiary Guarantor ceases both (x) to guarantee any other Indebtedness of the Company and any Indebtedness of any other Restricted Subsidiary (except as a result of payment under any such other guarantee) and
(y) to be an obligor with respect to any Indebtedness under any Credit Facility; or (7) upon such Subsidiary Guarantor consolidating with, merging into or transferring all of its assets to the Company or another Subsidiary Guarantor, and
as a result of, or in connection with, such transaction such Subsidiary Guarantor dissolving or otherwise ceasing to exist. 

  
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 Upon delivery by the Company to the Trustee of an Officers’ Certificate to
the effect that any of the conditions described in the foregoing clauses (1) – (7) has occurred, the Trustee shall execute any documents reasonably requested by the Company in order to evidence the release of any Subsidiary Guarantor
from its obligations under its Subsidiary Guarantee. Any Subsidiary Guarantor not released from its obligations under its Subsidiary Guarantee shall remain liable for the full amount of principal of and interest and premium, if any, on, the Notes
and for the other obligations of such Subsidiary Guarantor under this Indenture as provided in this Article X. 
 (d) Article X of the
Original Indenture is hereby amended by adding the following Section 10.06 with respect to the Notes: 

Section 10.06 Subsidiary Guarantors May Consolidate, etc., on Certain Terms. 

(a) No Subsidiary Guarantor shall sell or otherwise dispose of, in one or more related transactions, all or substantially all
of its assets to, or consolidate with or merge with or into (whether or not such Subsidiary Guarantor is the surviving Person), another Person (other than the Company or another Subsidiary Guarantor), unless, (i) either (1) the Person
acquiring the assets in any such sale or other disposition or the Person formed by or surviving any such consolidation or merger (if other than such Subsidiary Guarantor) unconditionally assumes, pursuant to a supplemental indenture substantially in
the form of Annex B hereto, all the obligations of such Subsidiary Guarantor under the Notes, this Indenture and its Subsidiary Guarantee on terms set forth herein and therein, or (2) such transaction or series of related transactions complies
with the provisions of Section 4.12, and (ii) immediately after giving effect to such transaction or series of related transactions, no Default or Event of Default exists. 

(b) In the case of any such consolidation or merger and upon the assumption by the successor Person, by supplemental indenture,
executed and delivered to the Trustee and substantially in the form of Annex B hereto, of the Subsidiary Guarantee of, and compliance with Section 10.6(a) of the Indenture by, the applicable Subsidiary Guarantor, such successor Person shall
succeed to and be substituted for such Subsidiary Guarantor with the same effect as if it had been named herein as a Subsidiary Guarantor. 
  

	SECTION 211	Other Amendments. 

 (a) The third paragraph of Section 2.08 of the
Original Indenture shall be amended with respect to the Notes to delete “(except as otherwise expressly permitted herein)” and to replace “Business Days” with “days”. 

(b) The second paragraph of Section 4.01 of the Original Indenture shall be amended and restated with respect to the Notes
as follows: 
 The Company shall pay interest (including post-petition interest in any proceeding under any Bankruptcy Law)
on overdue principal from time to time on demand at a rate that is 1.0% higher than the then applicable interest rate on the Notes to the extent lawful; and it shall pay interest (including post petition interest in any proceeding under any
Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) from time to time on demand at a rate that is 1.0% higher than the then applicable interest rate on the Notes to the extent lawful. 

  
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 (c) Clause (3) of Section 6.06 of the Original Indenture shall be
amended with respect to the Notes to add “to be incurred in compliance with such request” at the end of such clause. 

(d) Section 8.01(b) of the Original Indenture shall be amended with respect to the Notes to delete the phrase “and
the Subsidiary Guarantors’ respective” from the second paragraph thereof. 
 (e) The third paragraph of
Section 8.01(b) shall be amended with respect to the Notes to replace the phrase “those surviving obligations specified above” with “those surviving obligations of the Company specified above”. 

(f) Section 8.01(b) of the Original Indenture shall be amended with respect to the Notes to add the following paragraph
after the first paragraph of such Section: 
 In addition, the Company shall have delivered to the Trustee an Officers’
Certificate stating that the deposit was not made by the Company with the intent of preferring the Holders over the other creditors of the Company or the Subsidiary Guarantors or with the intent of defeating, hindering, delaying or defrauding
creditors of the Company, the Subsidiary Guarantors or others. 
 (g) Clause (8) of Section 9.01 of the Original
Indenture shall be amended with respect to the Notes to replace the phrase “conform the provisions of this Indenture to the description of any Security” with the phrase “conform the provisions of this Indenture and the Securities to
the description of the Indenture or any Security”. 
 (h) Clause (3) of Section 9.02 of the Original Indenture
shall be amended and restated with respect to the Notes in its entirety to read as follows: 
 “(3) reduce the principal
of, any premium on, or change the Stated Maturity of, any Note;” 
 (g) Clause (10) of Section 9.02 of the
Original Indenture shall be amended with respect to the Notes to delete “materially”. 
 (i) The third paragraph of
Section 9.04 of the Original Indenture shall be amended with respect to the Notes to replace “clauses (1) through (9)” with “clauses (1) through (10)”. 

(j) The last sentence of Section 10.03 of the Original Indenture shall be amended with respect to the Notes to replace
“federal or state law” with “applicable law.” 

  
 80 

 ARTICLE THREE 

MISCELLANEOUS PROVISIONS 
  

	SECTION 301	Integral Part. 

 This Fifteenth Supplemental Indenture constitutes an integral part of
the Indenture. 
  

	SECTION 302	General Definitions. 

 For all purposes of this Fifteenth Supplemental Indenture: 

(a) capitalized terms used herein without definition shall have the meanings specified in the Indenture; and 

(b) the terms “herein,” “hereof,” “hereunder,” and other words of similar import refer to this Fifteenth
Supplemental Indenture. 
  

	SECTION 303	Adoption, Ratification and Confirmation. 

 The Original Indenture, as supplemented and
amended by this Fifteenth Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed. 
  

	SECTION 304	The Trustee. 

 The Trustee shall not be responsible in any manner whatsoever for or in
respect of the sufficiency of this Fifteenth Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Company and the Subsidiary Guarantors named herein. 

 

	SECTION 305	Counterparts. 

 This Fifteenth Supplemental Indenture may be executed in any number of
counterparts, each of which when so executed shall be deemed an original; and all such counterparts shall together constitute but one and the same instrument. 
  

	SECTION 306	Governing Law. 

 THIS FIFTEENTH SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

  
 81 

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

					
	CARRIZO OIL & GAS, INC.
		
	By:	 	 /s/ David L. Pitts

		 	Name:	 	David L. Pitts
		 	Title:	 	Vice President and Chief Financial Officer
	
	BANDELIER PIPELINE HOLDING, LLC
	CARRIZO (EAGLE FORD) LLC
	CARRIZO (MARCELLUS) LLC
	CARRIZO (MARCELLUS) WV LLC
	CARRIZO (NIOBRARA) LLC
	CARRIZO (UTICA) LLC
	CARRIZO MARCELLUS HOLDING INC.
	CLLR, INC.
	HONDO PIPELINE, INC.
	MESCALERO PIPELINE, LLC
		
	By:	 	 /s/ David L. Pitts

		 	Name:	 	David L. Pitts
		 	Title:	 	Vice President and Chief Financial Officer

  
 Signature Page to
Fifteenth Supplemental Indenture 

 
					
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Stefan Victory

		 	Name:	 	Stefan Victory
		 	Title:	 	Vice President

  
 Signature Page to
Fifteenth Supplemental Indenture 

 RULE 144A/REGULATION S APPENDIX 

ARTICLE 1 
 PROVISIONS RELATING TO
INITIAL NOTES AND ADDITIONAL NOTES 
  

	Section 1.01	Definitions 

 (a) Definitions. For the purposes of this Appendix the following
terms shall have the meanings indicated below: 
 “Clearstream” means Clearstream Banking, S.A., or any successor
securities clearing agency. 
 “Depositary” means The Depository Trust Company, its nominees and their
respective successors. 
 “Euroclear” means Euroclear Bank S.A./N.V. or any successor securities clearing
agency. 
 “Notes Custodian” means the custodian with respect to a Global Note (as appointed by the
Depositary), or any successor Person thereto and shall initially be the Trustee. 
 “Purchase Agreement”
means (1) with respect to the Initial Notes issued on the Initial Issuance Date, the Purchase Agreement dated October 27, 2014 among the Company, the Guarantors and the Purchasers named therein, and (2) with respect to each issuance
of Additional Notes, the purchase agreement or underwriting agreement among the Company and the Persons purchasing or underwriting such Additional Notes. 

“QIB” means a “qualified institutional buyer” as defined in Rule 144A under the Securities Act.  

“Registration Rights Agreement” means (1) with respect to the Initial Notes issued on the Initial Issuance Date,
the Registration Rights Agreement dated as of October 30, 2014 among the Company, the Guarantors and the Purchasers named therein and (2) with respect to each issuance of Additional Notes issued in a transaction exempt from the
registration requirements of the Securities Act, the registration rights agreement, if any, among the Company and the Persons purchasing such Additional Notes under the related Purchase Agreement. 

“Shelf Registration Statement” means the shelf registration statement issued by the Company in connection with the
offer and sale of Initial Notes pursuant to a Registration Rights Agreement. 
 “Transfer Restricted
Securities” means Notes that bear or are required to bear the legend set forth in Section 2.03(b) hereof. 

  
 Appendix - 1 

	Section 1.02	Other Definitions. 

  

			
	 Term
	  	 Defined in Section

		
	“Agent Members”	  	2.01(b)
	“Distribution Compliance Period”	  	2.01(b)
	“Global Notes”	  	2.01(a)
	“Regulation S”	  	2.01(a)
	“Regulation S Notes”	  	2.01(a)
	“Restricted Global Note”	  	2.01(a)
	“Rule 144A”	  	2.01(a)
	“Rule 144A Notes”	  	2.01(a)

 ARTICLE 2 

THE NOTES 
  

	Section 2.01	

 (a) Form and Dating. Initial Notes offered and sold to QIBs in reliance on Rule 144A
(“Rule 144A Notes”) under the Securities Act (“Rule 144A”) or in reliance on Regulation S (“Regulation S Notes”) under the Securities Act (“Regulation S”), in each case as provided in a Purchase Agreement,
shall be issued initially in the form of one or more permanent global Notes in definitive, fully registered form without interest coupons with the global Notes legend and restricted Notes legend set forth in Annex A to this Fifteenth Supplemental
Indenture (each, a “Restricted Global Note”), which shall be deposited on behalf of the purchasers of the Initial Notes represented thereby with the Trustee, as custodian for the Depositary (or with such other custodian as the Depositary
may direct), and registered in the name of the Depositary or a nominee of the Depositary, duly executed by the Company and authenticated by the Trustee as hereinafter provided. Beneficial interests in a Restricted Global Note representing Initial
Notes sold in reliance on either Rule 144A or Regulation S may be held through Euroclear or Clearstream, as indirect participants in the Depositary. The aggregate principal amount of the Global Notes may from time to time be increased or decreased
by adjustments made on the records of the Trustee and the Depositary or its nominee as hereinafter provided. Additional Notes or other Notes, in each case that are not Transfer Restricted Securities, shall be issued in global form (with the global
Notes legend set forth in Annex A) or in certificated form as provided in the Indenture. Notes issued in global form and Restricted Global Notes are sometimes referred to in this Appendix as “Global Notes.” The Global Notes are
“Global Securities” within the meaning of the Indenture, and shall be subject to the further provisions of the Indenture with respect thereto. 

(b) Book-Entry Provisions. This Section 2.01(b) shall apply only to a Global Note deposited with or on behalf of the Depositary.
The Company shall execute and the Trustee shall, in accordance with this Section 2.01(b) and the Indenture, authenticate and deliver initially one or more Global Notes that (a) shall be registered in the name of the Depositary for such
Global Note or Global Notes or the nominee of such Depositary and (b) shall be delivered by the Trustee to such Depositary or pursuant to such Depositary’s instructions or held by the Trustee as custodian for the Depositary. If such Global
Notes are Restricted Global Notes, then separate Global Notes shall be issued to represent Rule 144A Notes and Regulation S Notes so long as required by law or the Depositary. 

  
 Appendix - 2 

 Members of, or participants in, the Depositary (“Agent Members”) shall have no rights
under this Indenture with respect to any Global Note held on their behalf by the Depositary or by the Trustee as the custodian of the Depositary or under such Global Note, and the Company, the Trustee and any agent of the Company or the Trustee
shall be entitled to treat the Depositary as the absolute owner of such Global Note for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from
giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members, the operation of customary practices of such Depositary governing the exercise of the
rights of a holder of a beneficial interest in any Global Note. 
 Prior to the expiration of the period through and including the 40th day
after the later of the commencement of the offering of any Initial Notes and the original issue date of such Initial Notes (such period, the “Distribution Compliance Period”), a beneficial interest in a Restricted Global Note representing
Regulation S Notes may be transferred to a Person who takes delivery in the form of an interest in a Restricted Global Note representing Rule 144A Notes only if (i) such exchange occurs in connection with a transfer of the Notes pursuant to
Rule 144A, (ii) the transferor first delivers to the Trustee a written certificate (in the form provided in the form of Note in Annex A) to the effect that such transfer is being made to a Person who the transferor reasonably believes is
purchasing for its own account or accounts as to which it exercises sole investment discretion and believes that such Person is a QIB, in each case in a transaction meeting the requirements of Rule 144A and (iii) the transfer is in accordance
with any applicable securities laws of any state of the United States or any other jurisdiction. After the expiration of the Distribution Compliance Period, such certification requirements shall not apply to such transfers of beneficial interests in
a Restricted Global Note representing Regulation S Notes. 
 Beneficial interests in a Restricted Global Note representing Rule 144A Notes
may be transferred to a Person who takes delivery in the form of an interest in a Restricted Global Note representing Regulation S Notes, whether before or after the expiration of the Distribution Compliance Period, only if the transferor first
delivers to the Trustee a written certificate (in the form provided in the form of Note in Annex A) to the effect that such transfer is being made in accordance with Rule 903 or 904 of Regulation S or Rule 144 (if available) and that, if such
transfer occurs prior to the expiration of the Distribution Compliance Period, the interest transferred will be held immediately thereafter through Euroclear or Clearstream. 

(c) Certificated Notes. Except as provided in the Indenture, owners of beneficial interests in Restricted Global Notes shall not be
entitled to receive physical delivery of certificated Notes. Certificated Notes shall not be exchangeable for beneficial interests in Global Notes unless the transferor first delivers to the Trustee a written certificate (in the form provided in
Annex A to this Fifteenth Supplemental Indenture) to the effect that such transfer will comply with the appropriate transfer restrictions applicable to such Notes. 

Section 2.02 Authentication. The Trustee shall authenticate and deliver Notes as provided in the Indenture. 

  
 Appendix - 3 

 Section 2.03 Transfer and Exchange. 

(a) Transfer and Exchange of Global Notes. 

(1) The transfer and exchange of Global Notes or beneficial interests therein shall be effected through the Depositary, in
accordance with this Indenture (including applicable restrictions on transfer set forth herein, if any) and the procedures of the Depositary therefor. A transferor of a beneficial interest in a Global Note shall deliver to the Registrar a written
order given in accordance with the Depositary’s procedures containing information regarding the participant account of the Depositary to be credited with a beneficial interest in the Global Note. The Registrar shall, in accordance with such
instructions instruct the Depositary to credit to the account of the Person specified in such instructions a beneficial interest in the Global Note and to debit the account of the Person making the transfer the beneficial interest in the Global Note
being transferred. 
 (2) Notwithstanding any other provisions of this Appendix, a Global Note may not be transferred as a
whole except by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor Depositary or a nominee of such successor
Depositary. 
 (3) In the event that a Restricted Global Note is exchanged for Notes in certificated form pursuant to the
Indenture, prior to the effectiveness of a Shelf Registration Statement with respect to such Notes, such Notes may be exchanged only in accordance with such procedures as are substantially consistent with the provisions of this Section 2.03
(including the certification requirements set forth on the reverse of the Initial Notes intended to ensure that such transfers comply with Rule 144A or Regulation S, as the case may be) and such other procedures as may from time to time be adopted
by the Company. 
 (b) Restricted Notes Legend. 

(1) Except as permitted by the following paragraphs (2), (3) and (4), each Note certificate evidencing the Restricted
Global Notes (and all Notes issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form: 

THE NOTES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
SECURITIES LAWS. NEITHER SUCH NOTES NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR
NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. THE HOLDER OF ANY NOTE EVIDENCED HEREBY BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER
THE SECURITIES ACT) OR (B) IT IS NOT A 

  
 Appendix - 4 

 
U.S. PERSON AND IS ACQUIRING SUCH NOTE IN AN “OFFSHORE TRANSACTION” PURSUANT TO RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT, PRIOR TO THE DATE
WHICH IS ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF (OR OF ANY PREDECESSOR OF SUCH NOTE) OR THE LAST DAY ON WHICH WE OR ANY OF OUR AFFILIATES WERE THE OWNERS OF SUCH NOTE (OR ANY PREDECESSOR OF SUCH NOTE) (THE “RESALE
RESTRICTION TERMINATION DATE”), OFFER, SELL OR OTHERWISE TRANSFER SUCH NOTE EXCEPT (A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE
NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”), TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR
THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF
REGULATION S UNDER THE SECURITIES ACT, (E) PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH
PERSON TO WHOM SUCH NOTE IS TRANSFERRED PRIOR TO THE RESALE RESTRICTION TERMINATION DATE A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER
(i) THAT IS (A) PURSUANT TO CLAUSE (2)(D) PRIOR TO THE END OF THE 40 DAY DISTRIBUTION COMPLIANCE PERIOD WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR (B) PURSUANT TO CLAUSE (2)(F) PRIOR TO THE RESALE
RESTRICTION TERMINATION DATE TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND (ii) IN EACH OF THE FOREGOING CASES IN CLAUSES (i)(A) OR (B), TO REQUIRE THAT A CERTIFICATE
OF TRANSFER IN THE FORM APPEARING ON THIS NOTE IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED AS TO ANY NOTE EVIDENCED HEREBY UPON DELIVERY TO THE TRUSTEE BY US OR THE HOLDER THEREOF OF A WRITTEN REQUEST FOR
THE REMOVAL HEREOF, IN ANY CASE AT ANY TIME AFTER THE RESALE RESTRICTION TERMINATION DATE. AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANINGS GIVEN TO THEM BY
REGULATION S UNDER THE SECURITIES ACT. 
 (2) Subject to applicable procedures of the Depositary, and without limiting
Section 2.03(b)(i), the Company, acting in its discretion, may remove the legend set forth 

  
 Appendix - 5 

 
in paragraph (i) above from any Transfer Restricted Security at any time on or after the Resale Restriction Termination Date applicable to such Transfer Restricted Security. Without limiting
the generality of the preceding sentence, the Company may effect such removal by issuing and delivering, in exchange for such Transfer Restricted Security, an Unrestricted Initial Note without such legend, registered to the same Holder and in an
equal principal amount, and upon receipt by the Trustee of a written order of the Company stating that the Resale Restriction Termination Date applicable to such Transfer Restricted Security has occurred and requesting the authentication and
delivery of an Unrestricted Initial Note in exchange therefor (which order shall not be required to be accompanied by any Opinion of Counsel or any other document, except the Opinion of Counsel and Officers’ Certificate required by
Section 11.04 of the Indenture) given at least three Business Days in advance of the proposed date of exchange specified therein (which shall be no earlier than such Resale Restriction Termination Date), the Trustee shall authenticate and
deliver such Unrestricted Initial Note to the Depositary or pursuant to such Depositary’s instructions or hold such Note as Note Custodian for the Depositary and shall request the Depositary to, or, if the Trustee is Note Custodian of such
Transfer Restricted Security, shall itself, surrender such Transfer Restricted Security in exchange for such Unrestricted Initial Note without such legend and thereupon cancel such Transfer Restricted Security so surrendered, all as directed in such
order. For purposes of determining whether the Resale Restriction Termination Date has occurred with respect to any Notes evidenced by a Transfer Restricted Security or delivering any order pursuant to this Section 2.03(b)(ii) with respect to
such Notes, (i) only those Notes which a Principal Officer of the Company actually knows (after reasonable inquiry) to be or to have been owned by an Affiliate of the Company shall be deemed to be or to have been, respectively, owned by an
Affiliate of the Company; and (ii) “Principal Officer” means the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Company. 

For purposes of this Section 2.03(b)(ii), all provisions relating to the removal of the legend set forth in paragraph (i) above shall
relate, if the Resale Restriction Termination Date has occurred only with respect to a portion of the Notes evidenced by a Transfer Restricted Security, to such portion of the Notes so evidenced as to which the Resale Restriction Termination Date
has occurred. 
 (3) Upon any sale or transfer of a Transfer Restricted Security (including any Transfer Restricted Security
represented by a Restricted Global Note) pursuant to Rule 144 under the Securities Act, the Registrar shall permit the transferee thereof to exchange such Transfer Restricted Security for a certificated Note that does not bear the legend set forth
above and rescind any restriction on the transfer of such Transfer Restricted Security, if the transferor thereof certifies in writing to the Registrar that such sale or transfer was made in reliance on Rule 144 (such certification to be in the form
set forth on the reverse of the Note). 
 (4) After a transfer of any Initial Note pursuant to and during the period of the
effectiveness of a Shelf Registration Statement with respect to such Initial Note, all requirements pertaining to legends on such Initial Note will cease to apply, any requirement that any such Initial Note issued to certain Holders be issued in
global form 

  
 Appendix - 6 

 
will cease to apply, and a certificated Initial Note or an Initial Note in global form, in each case without restrictive transfer legends, will be available to the transferee of the Holder of
such Initial Note upon exchange of such transferring Holder’s certificated Initial Note or directions to transfer such Holder’s interest in the Global Note, as applicable. 

  
 Appendix - 7 

 ANNEX A 

[FORM OF FACE OF NOTE] 
 [INSERT
RESTRICTED NOTES LEGEND, IF APPLICABLE, PURSUANT TO SECTION 2.03 OF THE APPENDIX]. 
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO CEDE & CO., 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. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR THE INDIVIDUAL NOTES REPRESENTED HEREBY, THIS GLOBAL NOTE MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE
OF SUCH SUCCESSOR DEPOSITARY.]1 
 7.50% SENIOR NOTE DUE 2020 

CARRIZO OIL & GAS, INC. 

Maturity: September 15, 2020 
  

			
	Principal Amount: $	 	CUSIP:             
		
	Registered: No.	 	ISIN:             

 Carrizo Oil & Gas, Inc., a Texas corporation (herein called the “Company,” which term
includes any successor entity under the indenture hereinafter referred to), for value received, hereby promises to pay to [            ], or registered assigns, the principal sum of
[            ] United States Dollars (            $) (or such other amount as is reflected on the attached Schedule of Increases
or Decreases of Global Security) on September 15, 2020 and to pay interest thereon in immediately available funds as specified on the other side of this Note. 

If a Holder of this Note has given wire transfer instructions for a United States account to the Company, the Company will pay all principal,
interest and premium, if any on this Note in 
  

	1 	 Include for Global Security. 

  
 Annex A- 1 

 
accordance with such instructions. Otherwise, payment of the principal, interest and premium, if any, on this Note will be made at the office or agency of the Company maintained for that purpose
in Dallas, Texas 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; provided, however, that at the option of the Company, payment of interest may be made by
check mailed to the address of the Person entitled thereto as such address shall appear in the register of Notes unless the Holder has given wire transfer instructions to the Company to an account in the United States. 

Reference is hereby made to the further provisions of this Note 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 Note 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. 

 

			
	CARRIZO OIL & GAS, INC.
		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	  

		 	Name:
		 	Title:

  
 Annex A- 2 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Notes of the series designated therein referred to in the within-mentioned Indenture. 

 

	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
	
	  

	Authorized Signatory

  

			
	Date of Authentication:	 	  

  
 Annex A- 3 

 [FORM OF REVERSE OF NOTE] 

CARRIZO OIL & GAS, INC. 

7.50% SENIOR NOTE DUE 2020 

This Note is one of a duly authorized issue of Notes of the Company issued and to be issued in one or more series under an Indenture, dated as
of May 28, 2008, as amended by the Fifteenth Supplemental Indenture thereto dated as of October 30, 2014 (as so amended, herein called the “Indenture”), among the Company, the Subsidiary Guarantors named therein and Wells Fargo
Bank, National Association, as trustee (herein called the “Trustee”, which term includes any successor trustee under the Indenture), or their respective predecessors, as applicable, to which Indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Subsidiary Guarantors, the Trustee and the Holders of the Notes and of the terms upon which the
Notes are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof, which is initially in the aggregate principal amount of $300,000,000. As used herein, the term “Notes” means the
Company’s 7.50% Senior Notes due 2020 issued under the Indenture. 
 Subject to Section 2.18 of the Indenture, the Company may, at
any time and from time to time, without notice or the consent of the holders of the Notes, create and issue Additional Notes ranking equally and ratably with the Notes in all respects (except for the payment of interest accruing prior to the date
such Additional Notes are initially issued under the Indenture and the offering price and issue date), so that such Additional Notes form a single series with such Notes and have the same terms as to status, redemption, covenants or otherwise as
such Notes. 
 Interest 
 The rate at
which this Note shall bear interest shall be 7.50% per annum. [In addition, the Company shall pay any Additional Interest payable pursuant to the Registration Rights Agreement referred to below. References in this Note to “interest”
include such Additional Interest to the extent applicable.]2 Interest on this Note shall accrue from
                     [September 15, 2014 in the case of Notes issued on the Initial Issuance Date]], or from the most recent date to which interest
has been paid or provided for on the Notes. The Interest Payment Dates on which interest on this Note shall be payable are March 15 and September 15 of each year (each, an “Interest Payment Date”), commencing on
                     [March 15, 2015, in the case of the Notes issued on the Initial Issuance Date]. If an Interest Payment Date falls on a day that
is not a Business Day, the interest payment to be made on such Interest Payment Date will be made on the next succeeding Business Day with the same force and effect as if made on such Interest Payment Date, and no additional interest will accrue
solely as a result of such delayed payment. The Regular Record Date for the interest payable on this Note on any Interest Payment Date shall be the March 1 or September 1, as the case may be, immediately preceding such Interest Payment
Date. Interest will cease to accrue on this Note upon its maturity, purchase by the Company at the option of a holder or redemption. The Company shall pay 

 

	2 	 Include for Transfer Restricted Notes. 

  
 Annex A- 4 

 
interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal from time to time on demand at a rate that is 1.0% higher than the then applicable
interest rate on the Notes to the extent lawful; and it shall pay interest (including post petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace period) from time to
time on demand at a rate that is 1.0% higher than the then applicable interest rate on the Notes to the extent lawful. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. 

Method of Payment 
 Payments in respect of
principal of and interest, if any, on the Notes shall be made by the Company in immediately available funds. 
 Optional Redemption 

(a) Except as set forth in subparagraphs (b) and (c) of this section or in the final paragraph of Section 4.16 of the Indenture,
the Company shall not have the option to redeem this Note prior to September 15, 2016. On and after September 15, 2016, the Company shall have the option to redeem this Note, in whole or in part at any time, upon prior notice as set forth
below under the caption “Notice,” at the Redemption Prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, on this Note to the applicable Redemption Date (subject to the right of
Holders of record on the relevant record date to receive interest due on an Interest Payment Date that is on or prior to the Redemption Date), if redeemed during the twelve-month period beginning on September 15 of the years indicated below:

  

					
	 YEAR
	  	PERCENTAGE	 
	 2016
	  	 	103.750	% 
	 2017
	  	 	101.875	% 
	 2018 and thereafter
	  	 	100.000	% 

 (b) Notwithstanding the provisions of subparagraph (a) of this section, at any time prior to
September 15, 2015, the Company may on one or more occasions redeem up to 35% of the aggregate principal amount of the Notes at a Redemption Price of 107.500% of the principal amount thereof, plus accrued and unpaid interest, if any, thereon to
the Redemption Date (subject to the right of Holders of record on the relevant record date to receive interest due on an Interest Payment Date that is on or prior to the Redemption Date), in an amount up to the amount of the net cash proceeds of one
or more Equity Offerings; provided that, with respect to each such redemption, (i) at least 65% of the aggregate principal amount of the Notes initially issued under the Indenture remains outstanding immediately after the occurrence of such
redemption (excluding any Notes held by the Company and its Subsidiaries) and (ii) such redemption occurs within 180 days of the date of the closing of the related Equity Offering. 

(c) Prior to September 15, 2016, the Company may redeem on one or more occasions all or part of this Note at a Redemption Price equal to
the sum of (1) 100% of the principal amount thereof, plus (2) accrued and unpaid interest, if any, to the Redemption Date (subject to 

  
 Annex A- 5 

 
the right of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the Redemption Date), plus (3) the Make Whole Premium at
the Redemption Date. 
 Selection 
 If
less than all of the Notes are to be redeemed at any time, the Trustee will select Notes for redemption as follows: 
 (1) if
the Notes are listed on any national securities exchange, in compliance with the requirements of the principal national securities exchange on which the Notes are listed; or 

(2) if the Notes are not listed on any national securities exchange, on a pro rata basis or, in the case of Notes issued in
global form, the Trustee will select Notes for redemption based on DTC’s method that most nearly approximates a pro rata selection unless otherwise required by law. 

Notice 
 No Note of $2,000 or less can be
redeemed in part. Notices of optional redemption will be mailed by first class mail or, if the Notes are in global form, sent pursuant to the applicable procedures of DTC, at least 30 but not more than 60 days before the Redemption Date to each
Holder of Notes to be redeemed at its registered address, except that optional redemption notices may be sent more than 60 days prior to a Redemption Date if the notice is issued in connection with a defeasance of the Notes or a discharge of the
indenture. Notice of any redemption, including, without limitation, upon an Equity Offering, may, at the Company’s discretion, be subject to one or more conditions precedent, including, but not limited to, completion of a related Equity
Offering. 
 If this Note is to be redeemed in part only, the notice of redemption that relates to this Note will state the portion of the
principal amount that is to be redeemed. A Note in principal amount equal to the unredeemed portion of this Note will be issued in the name of the applicable Holder upon cancellation of this Note. Notes called for redemption become due on the date
fixed for redemption, subject to satisfaction of any condition to the redemption. On and after the Redemption Date, interest ceases to accrue on Notes or portions of them called for redemption. 

The notice of redemption with respect to a redemption described in Paragraph (c) under the caption “Optional Redemption” need
not set forth the Make Whole Premium but only the manner of calculation thereof. 
 Repurchase by the Company at the Option of Holder 

Change of Control 
 If a Change of Control
occurs, the Holder of this Note will have the right to require the Company to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess of $2,000) of this Note pursuant to an offer (“Change of Control Offer”)
on the terms set 

  
 Annex A- 6 

 
forth in the Indenture. In the Change of Control Offer, the Company will offer a payment in cash (the “Change of Control Payment”) equal to 101% of the aggregate principal amount of the
part of this Note repurchased plus accrued and unpaid interest, if any, to the date of purchase (the “Change of Control Purchase Date”), subject to the right of the Holders of record of this Note on the relevant record date to receive
interest due on an interest payment date that is on or prior to the Change of Control Purchase Date. 
 In the event that Holders of not
less than 90% of the aggregate principal amount of the outstanding Notes accept a Change of Control Offer and the Company purchases all of the Notes held by such Holders, the Company will have the right to redeem all of the Notes that remain
outstanding following such purchase on the terms set forth in the Indenture. 
 Asset Sale 

Subject to the terms of the Indenture, in certain circumstances, the Company may be required to make an offer (the “Asset Sale
Offer”) to all Holders of Notes, and to all holders of Pari Passu Indebtedness then outstanding, to purchase the maximum principal amount of Notes and such Pari Passu Indebtedness that may be purchased out of the Excess Proceeds. The offer
price in any Asset Sale Offer will be equal to 100% of principal amount plus accrued and unpaid interest, if any, to the date of settlement, subject to the right of Holders of record on the relevant record date to receive interest due on an Interest
Payment Date that is on or prior to the date of settlement, and will be payable in cash. 
 Transfer 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note is registrable in the register of
the Notes, upon surrender of this Note for registration or transfer at the office or agency of the Registrar for the Notes, duly endorsed by, or accompanied by a written instrument of transfer in form reasonably satisfactory to the Registrar duly
executed by the Holder thereof or his attorney duly authorized in writing, and thereupon one or more new Notes, of like tenor and of other authorized denominations and for the same aggregate principal amount, executed by the Company and
authenticated and delivered by the Trustee, will be issued to the designated transferee or transferees. 
 The Notes are issuable only in
registered form without coupons in denominations of $2,000 and integral multiples of $1,000, in excess of $2,000. As provided in the Indenture and subject to certain limitations set forth therein and on the face of this Note, Notes are exchangeable
for a like aggregate principal amount of Notes 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 Note for registration of
transfer, the Company, the Trustee or any agent of the Company or the Trustee may treat the Person in whose name this Note is registered as the owner hereof for all purposes, whether or not this Note be overdue, and neither the Company, the Trustee
nor any such agent shall be affected by notice to the contrary. 

  
 Annex A- 7 

 Guarantees 

The payment by the Company of the principal of and interest and premium, if any, on the Notes is fully and unconditionally guaranteed on a
joint and several senior unsecured basis by each of the Subsidiary Guarantors to the extent set forth in the Indenture. 
 Amendment, Supplement and
Waiver 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights
and obligations of the Company and the rights of the Holders of the Notes at any time by the Company and the Trustee with the consent of the Holders of at least a majority in principal amount of the then outstanding Notes. The Indenture also
contains provisions permitting the Holders of at least a majority in principal amount of the then outstanding Notes, to waive compliance by the Company with certain existing or past defaults under the Indenture and their consequences. Any such
consent or waiver by the Holder of this Note shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the registration of transfer hereof or in exchange hereof or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Note. 
 Successor Entity 

When a successor Person assumes all the obligations of its predecessor under the Notes and the Indenture in accordance with the terms and
conditions of the Indenture, the predecessor Person will (except in certain circumstances specified in the Indenture) be released from those obligations. 

Defaults and Remedies 
 If an Event of
Default with respect to Notes shall occur and be continuing, all unpaid Principal Amount plus accrued and unpaid interest through the acceleration date of the Notes may be declared due and payable in the manner and with the effect provided in the
Indenture. 
 No Personal Liability of Directors, Officers, Employees and Shareholders 

No director, officer, partner, employee, incorporator, manager or shareholder or other owner of Capital Stock of the Company or any Subsidiary
Guarantor, as such, will have any liability for any obligations of the Company or any Subsidiary Guarantor under the Notes, the Indenture or the Subsidiary Guarantees, or for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal
securities laws. 
 [Removal of Restricted Note Legend 

Each holder of any Note evidenced by any Restricted Global Note, by its acceptance thereof, (A) authorizes and consents to,
(B) appoints the Company as its agent for the sole purpose of delivering such electronic messages, executing and delivering such instruments and taking such other actions, on such holder’s behalf, as the Depositary or the Trustee may
require 

  
 Annex A- 8 

 
to effect, and (C) upon the request of the Company, agrees to deliver such electronic messages, execute and deliver such instruments and take such other actions as the Depositary or the
Trustee may require, or as shall otherwise be necessary to effect, the removal of the Restricted Note Legend set forth on the face of such Note (including by means of the exchange of all or the portion of such Restricted Global Note evidencing such
Note for a certificate evidencing such Note that does not bear such Restricted Note Legend) at any time after the Resale Restriction Termination Date. 

Additional Rights of Holders of Transfer Restricted Securities.  

In addition to the rights provided to Holders of Notes under the Indenture, Holders of Notes shall have all the rights set forth in the Registration Rights
Agreement dated as of October 30, 2014, among the Company, the Guarantors and the Purchasers named therein (the “Registration Rights Agreement”).] 3 

Indenture to Control; Governing Law 
 In
the case of any conflict between the provisions of this Note and the Indenture, the provisions of the Indenture shall control. 
 THE
INDENTURE AND THE NOTES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 Definitions 

All terms defined in the Indenture and used in this Note but not specifically defined herein are used herein as so defined. 

 

	3 	Include for Transfer Restricted Notes 

  
 Annex A- 9 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL SECURITY 

The following increases or decreases in this Global Security have been made: 

 

									
	 (a) Date of Exchange
	  	(b) Amount of
Decrease in
Principal Amount of
this Global Security	  	(c) Amount of
Increase in Principal
Amount of this
Global Security	  	(d) Principal
Amount of this
Global Security
Following such
Decrease or Increase	  	(e) Signature of
Authorized Officer
of Trustee or
Securities Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 Annex A- 10 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below and have your signature guaranteed: (I) or (we) assign and transfer this Note to: 

 

			
	  
	 	
		
	(Insert assignee’s soc. sec. or tax ID. no.)	 	

  

			
	  
	 	
		
	(Print or type assignee’s name, address and zip code)	 	

 and irrevocably appoint
                                         to
transfer this Note on the books of the Company. The agent may substitute another to act for him. 
 Dated: 

Your Name: 
  

			
	  
	 	
		
	(Print your name exactly as it appears on the face of this Note)	 	

 Your Signature: 
  

			
	  
	 	
		
	(Sign exactly as your name appears on the face of this Note)	 	

 SIGNATURE GUARANTEE*: 
  

	*	The signature must be guaranteed by an institution which is a member of one of the following recognized signature guaranty programs: (i) the Securities Transfer Agent Medallion Program (STAMP); (ii) the New
York Stock Exchange Medallion Program (MSP); (iii) the Stock Exchange Medallion Program (SEMP); or (iv) such other guarantee program acceptable to the Trustee. 

  
 Annex A- 11 

 [In connection with any transfer of any of the Notes evidenced by this certificate occurring prior to the
expiration of one year after the later of the date of original issuance of such Notes (or the date of any subsequent reopening of the Notes) and the last date, if any, on which such Notes were owned by the Company or any Affiliate of the Company
(or, in the case of Regulation S Notes, prior to the expiration of the Distribution Compliance Period), the undersigned confirms that such Notes are being transferred in accordance with its terms: 

CHECK ONE BOX BELOW 
  

					
	1.	 	 ̈	  	to the Company; or
			
	2.	 	 ̈	  	pursuant to an effective registration statement under the Securities Act of 1933; or
			
	3.	 	 ̈	  	inside the United States to a person who the undersigned reasonably believes is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) that is purchasing for its own account or
for the account of a qualified institutional buyer to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or
			
	4.	 	 ̈	  	outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of 1933; or
			
	5.	 	 ̈	  	pursuant to the exemption from registration provided by Rule 144 under the Securities Act of 1933.

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes evidenced by this certificate
in the name of any person other than the registered holder thereof; provided, however, that if box (4) or (5) is checked, the Trustee shall be entitled to require, prior to registering any such transfer of the Notes, such legal opinions,
certifications and other information as the Company has reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933,
such as the exemption provided by Rule 144 under such Act. 
  

			
	Signature:	 	  

 TO BE COMPLETED BY PURCHASER IF (3) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Note for its own account or an account with respect to which it exercises sole investment
discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule 144A and acknowledges
that it has received such information regarding the Company and any Guarantors as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the
undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 

  
 Annex A- 12 

									
	Dated:	 	  
	 		 		 	  

					
		 		 		 	Notice:	 	To be executed by an executive officer]4

  

	4 	Include for Transfer Restricted Securities 

  
 Annex A- 13 

  
 Annex A- 14 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased, in whole or in part, by the Company pursuant to Section 4.12 or 4.16 of the Indenture,
check the following box: 
  

							
	 ̈	  	Section 4.12	  	 ̈	  	Section 4.16

 If you want to have only part of this Note purchased by the Company pursuant to Section 4.12 or 4.16 of
the Indenture, state the Principal Amount you want to be purchased (in minimum denomination of $2,000 or integral multiples of $1,000 in excess of $2,000): $         

 

							
	Your Signature:	 	  
	 	Date:	 	  

	(Sign exactly as your name appears on the other side of this Note)	 		 	

  

			
	* Signature guaranteed by:	 	  

 

			
	By:	 	  

  

	*	The signature must be guaranteed by an institution which is a member of one of the following recognized signature guaranty programs: (i) the Securities Transfer Agent Medallion Program (STAMP); (ii) the New
York Stock Exchange Medallion Program (MSP); (iii) the Stock Exchange Medallion Program (SEMP); or (iv) such other guaranty program acceptable to the Trustee. 

  
 Annex A- 15 

 [FORM OF NOTATION OF GUARANTEE] 

Each of the Subsidiary Guarantors (which term includes any successor Person 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 Notes and all other amounts due and payable under the
Indenture and the Notes by the Company. 
 The obligations of the Subsidiary Guarantors to the Holders of Notes and to the Trustee pursuant
to the Guarantee and the Indenture are expressly set forth in Article X of the Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee. 

 

			
	[NAME OF SUBSIDIARY GUARANTOR]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 Annex A- 16 

 ANNEX B 
  

 
  

FORM OF SUPPLEMENTAL INDENTURE 

CARRIZO OIL & GAS, INC., 

the Subsidiary Guarantors named herein 

and 
 WELLS FARGO BANK,
NATIONAL ASSOCIATION, 
 as Trustee 
  

 
 7.50% Senior
Notes due 2020 
  
  

 

  
 Annex B-1 

 CARRIZO OIL & GAS, INC. 

SUPPLEMENTAL INDENTURE 
 THIS
SUPPLEMENTAL INDENTURE, dated as of             ,         , among Carrizo Oil and Gas, Inc., a Texas corporation (the “Company”),
[            ] (the “Guaranteeing Subsidiary”), which is a subsidiary of the Company, each of the existing Subsidiary Guarantors (as defined in the Indenture referred to below)
and Wells Fargo Bank, National Association (the “Trustee”). 
 W I T N E S S
E T H : 
 WHEREAS, the Company, certain of its Subsidiaries and the Trustee heretofore executed and delivered an
Indenture, dated as of May 28, 2008 (as amended and supplemented by a Fifteenth Supplemental Indenture among the Company, certain of its Subsidiaries, and the Trustee, dated as of October 30, 2014, the “Indenture”), providing for
the issuance of the Company’s 7.50% Senior Notes due 2020 (the “Senior Notes”); 
 WHEREAS, Section 4.15 of the
Indenture provides that under certain circumstances a Restricted Subsidiary of the Company that is not already a Subsidiary Guarantor shall execute and deliver to the Trustee a supplemental indenture pursuant to which such Restricted Subsidiary
shall become a Subsidiary Guarantor; and 
 WHEREAS, the Company, pursuant to the terms and provisions of the Indenture, proposes in and by
this Supplemental Indenture to supplement and amend the Indenture insofar as it will apply only to the Senior Notes in certain respects; 

NOW, THEREFORE: 
 To comply with
the provisions of the Indenture and in consideration of the premises provided for herein, the Guaranteeing Subsidiary, the Company, the existing Subsidiary Guarantors and the Trustee mutually covenant and agree for the equal and proportionate
benefit of all Holders of the Notes as follows: 
 ARTICLE ONE 

GUARANTEE 
  

	SECTION 101	Guarantee. 

 The Guaranteeing Subsidiary hereby agrees by execution of this Supplemental
Indenture, with respect to the Senior Notes, to be bound by all of the provisions of the Indenture applicable to a Subsidiary Guarantor to the extent provided for in Article X of the Indenture. 

  
 Annex B-2 

 ARTICLE TWO 

MISCELLANEOUS PROVISIONS 
  

	SECTION 201	Integral Part. 

 This Supplemental Indenture constitutes an integral part of the
Indenture. 
  

	SECTION 202	General Definitions. 

 For all purposes of this Supplemental Indenture: 

(a) capitalized terms used herein without definition shall have the meanings specified in the Indenture; and 

(b) the terms “herein,” “hereof,” “hereunder” and other words of similar import refer to this Supplemental
Indenture. 
  

	SECTION 203	Adoption, Ratification and Confirmation. 

 The Indenture, as supplemented and
amended by this Supplemental Indenture, is in all respects hereby adopted, ratified and confirmed. 
  

	SECTION 204	The Trustee. 

 The Trustee shall not be responsible in any manner whatsoever for or in
respect of the sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Company and the Subsidiary Guarantors named herein. 

 

	SECTION 205	Counterparts. 

 This [    ] Supplemental Indenture may be
executed in any number of counterparts, each of which when so executed shall be deemed an original; and all such counterparts shall together constitute but one and the same instrument. 

 

	SECTION 206	Governing Law. 

 THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

  
 Annex B-3 

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

 

			
	CARRIZO OIL & GAS, INC.
		
	By:	 	  

	Name:	 	Paul F. Boling
	Title:	 	Vice President and Chief Financial Officer
	
	GUARANTEEING SUBSIDIARY
	
	[                                    
    ]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	EXISTING SUBSIDIARY GUARANTORS1
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

	Name:	 	
	Title:	 	

  

	1 	Insert signature blocks for each Subsidiary Guarantor existing at the time of execution of this Supplemental Indenture. 

  
 Annex B-4

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