Document:

Fifth Amendment to Seventh Amended and restated Credit Agreement

 Exhibit 4.4.1 

FIFTH AMENDMENT 

TO 

SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT 

THIS FIFTH AMENDMENT TO SEVENTH AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is dated as of May 11,
2010 (but effective on the Effective Date, defined below) by and among Chesapeake Energy Corporation (the “Company”), Chesapeake Exploration, L.L.C. (“Chesapeake Exploration”) and Chesapeake Appalachia, L.L.C.
(“Chesapeake Appalachia”, and together with Chesapeake Exploration, collectively, the “Co-Borrowers”), Union Bank, N.A., as Administrative Agent (“Agent”), the other agents named therein, the
Lenders from time to time parties thereto (the “Lenders”) and Woodlands Commercial Bank (f/k/a Lehman Brothers Commercial Bank) (“Woodlands”). 

W I T N E S S E T H: 

WHEREAS, the Co-Borrowers, the Company, Agent and the Lenders (including Woodlands) entered into that certain Seventh Amended and
Restated Credit Agreement dated as of November 2, 2007 (the “Original Agreement”), for the purpose and consideration therein expressed, whereby the Lenders became obligated to make loans and extend credit to the Co-Borrowers as
therein provided; 
 WHEREAS, Woodlands is a Defaulting Lender, and the Co-Borrowers, the Company, Agent and Woodlands desire to
terminate the Revolving Commitments of Woodlands under the Credit Agreement in the manner set forth herein; 
 NOW, THEREFORE,
in consideration of the premises and the mutual covenants and agreements contained herein and in the Original Agreement, in consideration of the loans and extensions of credit that may hereafter be made by the Lenders and the Issuing Lenders to the
Co-Borrowers, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as follows: 

ARTICLE I. 

DEFINITIONS AND REFERENCES 

Section 1.1.    Terms Defined in the Credit Agreement.  Unless the context otherwise requires
or unless otherwise expressly defined herein, the terms defined in the Original Agreement shall have the same meanings whenever used in this Amendment. 

Section 1.2.    Other Defined Terms.  Unless the context otherwise requires, the following
terms when used in this Amendment shall have the meanings assigned to them in this Section 1.2. 

“Amendment” means this Fifth Amendment to Seventh Amended and Restated Credit Agreement. 

“Credit Agreement” means the Original Agreement as amended hereby. 

[FIFTH AMENDMENT TO SEVENTH AMENDED

 AND RESTATED CREDIT AGREEMENT] 

 ARTICLE II. 

AMENDMENTS 

Section 2.1.    Definitions.  Section 1.1 of the Original Agreement is hereby amended to
add the following definitions thereto in appropriate alphabetical order to read as follows: 

“Woodlands”: Woodlands Commercial Bank (f/k/a Lehman Brothers Commercial Bank). 

“Woodlands Loans”: the aggregate principal amount of Revolving Loans made by Woodlands in the outstanding
amount of $34,928,571.43. 
 “Woodlands Amendment Effective Date” means September 28, 2009.

 Section 1.1 of the Original Agreement is hereby further amended by adding the following sentence at the end of the
definition of Defaulting Lender: 
 “On and after the Woodlands Amendment Effective Date, Woodlands shall
not be deemed to be a Defaulting Lender at any time for any reason; provided, however, that Co-Borrowers shall retain the right to prepay the Woodland Loans, in whole or in part and to replace Woodlands as a Lender as otherwise provided in this
Agreement.” 
 Section 1.1 of the Original Agreement is hereby further amended by amending the definitions of
“Consolidated Indebtedness” and “Qualifying VPP” in their entirety to read as follows: 

“Consolidated Indebtedness”: the remainder of (a) indebtedness of the Group Members (without
duplication) of the type described in clauses (a), (b), (c), (d), (e), (g) and (h) of the definition of Indebtedness as determined on a consolidated basis in accordance with GAAP, minus (b) the total collected balances in Cash
Equivalents properly reflected as assets of the Group Members in accordance with GAAP. 
  

					
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[FIFTH AMENDMENT TO SEVENTH 
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 AND RESTATED CREDIT
AGREEMENT]

 “Qualifying VPP”: one or more volumetric production payment
transactions (each a “VPP”) pursuant to which (a) a Group Member or Group Members (the “VPP Seller”) conveys (the “VPP Conveyance”) a term overriding royalty out of the working or other
interests in certain oil and gas properties (which do not constitute Collateral) (the “VPP Properties”) to the purchaser of the VPP (the “VPP Buyer”) for consideration consisting of cash and (b) a Responsible
Officer of the Company delivers to Administrative Agent a certificate certifying that, upon consummation of the proposed VPP, the VPP will satisfy all conditions necessary to constitute a Qualifying VPP, and which may contain any of the following
provisions: (i) the VPP Seller or another Group Member enters into a Purchase and Sale Agreement (the “VPP PSA”), containing certain representations, warranties and covenants relating to the VPP and VPP Properties and a
restriction on further assignments of the VPP Properties, (ii) the VPP Seller or another Group Member enters into a VPP Gas Purchase Contract with the VPP Buyer (the “VPP Gas Purchase Contract”) to purchase the VPP
Buyer’s share of production at or near the wellhead at an index price (adjusted for shrinkage and transportation costs, as applicable), (iii) the VPP Seller grants Liens on its retained interests in the VPP Properties and the production
therefrom and its rights, titles and interests related thereto pursuant to one or more mortgages and deeds of trust (the “VPP Mortgages”), to secure performance of its ongoing covenants and obligations pursuant to the VPP
Conveyance, the VPP PSA, and the VPP Gas Purchase Contract, and (iv) the Company guarantees (the “CEC Guaranty”) the VPP Seller’s performance of these same covenants and obligations; provided, however, if at
the time of issuance thereof, the sum of (i) the aggregate cash consideration received by the Group Members for the sale of such VPP plus (ii) the Unamortized VPP Amount, defined below, of all other Qualifying VPPs sold since November 2,
2007 exceeds $3,500,000,000, then only the portion in excess of $3,500,000,000 shall be deemed not to be a Qualifying VPP. For the purpose of determining compliance with Section 7.1, the Unamortized VPP Amount and any non-Qualifying VPP amounts
(if applicable) will be calculated as of the last day of the fiscal quarter of the Company. As used above, the “Unamortized VPP Amount” means the value of the remaining production required to be delivered under a VPP as of the time
of determination, which value is equivalent to the unamortized principal amount of such VPP as maintained on the tax accounting books of the Company; provided that (i) the Company has provided the Administrative Agent a schedule showing the
Unamortized VPP Amount for each VPP as of March 31, 2010, and (ii) any reduction in the Unamortized VPP Amount of any VPP shall be effective for purposes of this Agreement when a report thereof is delivered by the Company to the
Administrative Agent.” 
 Section 2.2.    Borrowing Request
Amendments.  Section 2.2 of the Original Agreement is hereby amended to change both references to “$5,000,000” to read “$3,000,000”. 

Section 2.17(b) of the Original Agreement is hereby amended to amend the second sentence thereof to read as follows: 

“Each such notice must be received by the Swing Line Lender and Administrative Agent not later than 1:30 P.M., Los Angeles,
California time, on the requested borrowing date if the requested amount is less than $50,000,000, and otherwise not later than 9:00 A.M., Los Angeles, California time, on the requested borrowing date, and shall specify (i) the amount to be
borrowed, which shall be a minimum of $3,000,000 or whole multiples of $1,000,000 in excess thereof, and (ii) the requested borrowing date, which shall be a Business Day.” 

Sections 2.2 and 2.17(b) are each further amended by adding the following sentence at the end of each such Section: 

“Without limiting a form of notice permitted under this Agreement, it is understood that a written notice of a borrowing request or a
written confirmation of an oral notice of a borrowing request may be signed by: (i) means of a facsimile or stamp signature of a Responsible Officer of the Co-Borrowers or (ii) by another officer of the Co-Borrowers who has been authorized
to make such requests, if the funds are made available to the Co-Borrowers pursuant to the terms of a repetitive wire transfer instruction or authorization acceptable to the Administrative Agent.” 

 

					
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[FIFTH AMENDMENT TO SEVENTH 
AMENDED
 AND RESTATED CREDIT
AGREEMENT]

 Section 2.3.    Termination of Woodlands Revolving
Commitment.  Effective as of the Woodland Amendment Effective Date, the Original Agreement is hereby amended to (i) restate Schedule 1.1A to the Original Agreement to read as set forth Schedule 1.1A attached hereto and
(ii) add the following Section 2.18: 
 “Section 2.18. Termination of Woodlands Revolving Commitment.

 “(a)    Termination of Woodlands Revolving Commitment.  On the
Woodlands Amendment Effective Date, (i) the Revolving Commitment of Woodlands shall be reduced to zero ($0.00), (ii) the Total Revolving Commitments shall be reduced by the amount of the $75,000,000 original Revolving Commitment of
Woodlands, (iii) the Revolving Percentage of each Lender shall be recalculated giving effect to such reduction in the Revolving Commitment of Woodlands and in the Total Revolving Commitments, such resulting Revolving Percentage being reflected
on Schedule 1.1A hereto, (iv) the participations of each Lender (other than Woodlands) in respect of Letters of Credit and Swing Line Loans is adjusted to such Lender’s new Revolving Percentage, and (v) the participation of Woodlands
in respect of Letters of Credit and Swing Line Loans, whether now or existing or hereafter issued, is terminated. Woodlands shall have no further obligation to fund any request for Revolving Loans or fund any amount in respect of any Letter of
Credit or Swing Line Loans under the Credit Agreement. 
 “(b)    Accrued
Fees.  Woodlands hereby shall not be entitled to any portion of any commitment fees under Section 2.3 of the Credit Agreement, or any Letter of Credit Fee under Section 2.13 of the Credit Agreement, accrued from and after
June 30, 2009. 
 “(c)    Principal Payment of Woodlands
Loans.  Notwithstanding anything to the contrary in this Agreement or any other Loan Document, prior to the date on which all Revolving Loans shall become due and payable, whether upon Revolving Termination Date, upon acceleration
under Section 8 of the Credit Agreement, or otherwise, (i) no portion of any prepayment of principal of Revolving Loans (whether under Sections 3.1 or 3.2 or otherwise) shall be applied to the Woodlands Loans other than as provided in
Section 2.18(e), (ii) no Lender shall have any obligation to share any payment of principal of Revolving Loans with Woodlands under Section 3.16 of the Credit Agreement; and (iii) Woodlands waives all right to any pro rata
treatment or pro rata payments in respect of payments of principal of Revolving Loans under Section 3.8 of the Credit Agreement. On the Revolving Termination Date or, if sooner, at the time when all Revolving Loans have become due and payable,
whether upon acceleration under Section 8 of the Credit Agreement or otherwise, the Woodlands Loans shall be entitled to receive a ratable share of payments of principal of Revolving Loans under Section 3.8, and the Lenders’
obligations to Woodlands in respect of payments of principal of Revolving Loans under Section 3.16 of the Credit Agreement shall become effective. 
  

					
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[FIFTH AMENDMENT TO SEVENTH 
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 AND RESTATED CREDIT
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 “(d)    Interest on Woodlands
Loans.  The Woodlands Loans shall bear interest as follows: (i) to the extent that any Eurodollar Tranches are outstanding from time to time, that portion of the Woodlands Loans which would have been a Eurodollar Loan if the
Revolving Commitment of Woodlands had remained in effect and if such portion of the Woodlands Loans had been funded as part of such Eurodollar Tranche shall bear interest at the applicable Eurodollar Rate plus the Applicable Margin, and
(ii) otherwise the balance of the Woodlands Loans shall bear interest at the Base Rate plus the Applicable Margin. The provisions of Sections 3.5(c), 3.5(d), 3.6, 3.9, 3.10, 3.12, 3.13, 3.16, and 10.18, shall apply to such interest on the
Woodlands Loans, but the other provisions of Article 3 shall not apply to interest on the Woodlands Loans. 

“(e)    Commitment Increase.  So long as no Default has occurred and is
continuing, the Co-Borrowers may request an increase in the Total Revolving Commitments in respect of the reduction in the Revolving Commitment of Woodlands in the manner provided for an increase in the Revolving Commitments under Section 2.15;
provided, however, that such increase shall not exceed the remainder of (i) the Revolving Commitment of Woodlands prior to the reduction provided in Section 2.18(a), minus (ii) the outstanding principal balance of the
Woodlands Loans after giving effect to any prepayment of the Woodlands Loans in whole or in part contemporaneously with such Commitment increase. The Co-Borrowers may repay the Woodlands Loans at the time of such Commitment increase, without premium
or penalty and without payment of any amount under Section 3.11. 

“(f)    Voting Rights.  So long as the Revolving Commitments have not
terminated, the determination of the Borrowing Base and Collateral Value and each other determination or consent to be made based on the Revolving Commitments of the Lenders shall be made giving effect to the reduction of the Woodlands Revolving
Commitment to zero; provided, however, that Woodlands shall retain its right to consent pursuant to Section 10.1 with respect to matters requiring the consent of all Lenders and matters requiring the consent of an affected Lender
(to the extent that Woodlands is such an affected Lender). After the termination of the Revolving Commitments, the determination of Majority Lenders based on Total Revolving Extensions of Credit shall be made by including the Woodlands Loans as an
outstanding Revolving Extension of Credit.” 
 Section 2.4.    Independent Engineering
Report.  The reference in Section 6.2(d) of the Original Agreement to “85%”, contained in the phrase “prepared with respect to not less than 70% of the reserve volume of the Company and its Subsidiaries (but in any
event, not less than 85% of the reserve volume used in the determination of the Collateral Value with respect to such Evaluation Date) by independent petroleum engineers chosen by the Company and acceptable to the Majority Lenders”, is hereby
amended to read “70%”. 
  

					
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[FIFTH AMENDMENT TO SEVENTH 
AMENDED
 AND RESTATED CREDIT
AGREEMENT]

 Section 2.5.    Release.  Each of the Co-Borrowers
and Subsidiary Guarantors hereby unconditionally and irrevocably waive all claims, suits, debts, liens, losses, causes of action, demands, rights, damages or costs, or expenses of any kind, character or nature whatsoever, known or unknown, fixed or
contingent, which any of them may have or claim to have against Woodlands in its capacity as a Lender under the Credit Agreement, but not otherwise, or its agents, employees, officers, directors, representatives, attorneys, successors and assigns to
the extent and solely to the extent arising out of or in connection with the Loan Documents or any prior or future Co-Borrowers request to fund or make an extension of credit under the Credit Agreement including, without limitation, any past or
future failure by Woodlands to fund any Loan required to be funded by it under the Credit Agreement. Woodlands hereby unconditionally and irrevocably waives all claims, suits, debts, liens, losses, causes of action, demands, rights, damages or
costs, or expenses of any kind, character or nature whatsoever, known or unknown, fixed or contingent, which it may have or claim to have against any Co-Borrower, any Subsidiary Guarantor, Administrative Agent or any Lender or its agents, employees,
officers, directors, representatives, attorneys, successors and assigns to the extent and solely to the extent arising out of or in connection with the failure of Woodlands to have received its pro rata share of any payment under the Credit
Agreement on or prior to the date of this Amendment. Each of the released parties shall be a third party beneficiary of this Amendment. 

ARTICLE III. 

CONDITIONS OF EFFECTIVENESS; CLOSING 

Section 3.1.    Effective Date.  This Amendment shall be effective on the date (the
“Effective Date”) when Agent shall have received, at Agent’s office, duly executed and delivered and in form and substance satisfactory to Agent, all of the following: 

(i)        this Amendment duly executed by the Co-Borrowers, the Company, Agent,
Majority Lenders and Woodlands; 
 (ii)        the Guarantor Consent
Agreement attached hereto duly executed by all Subsidiary Guarantors; and 

(iii)        such other supporting documents as Agent may reasonably request.

 ARTICLE IV. 

REPRESENTATIONS AND WARRANTIES 

Section 4.1.    Representations and Warranties of Co-Borrowers.  In order to induce each Lender
to enter into this Amendment, the Company and Co-Borrowers represent and warrant to Agent and to each Lender that: 

(a)        The representations and warranties contained in Article 4 of the Original
Agreement are true and correct at and as of the time of the effectiveness hereof, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties are true and correct
as of such earlier date. 
 (b)        The Company and Co-Borrowers are duly authorized
to execute and deliver this Amendment and are and will continue to be duly authorized to borrow monies and to perform their respective obligations under the Credit Agreement. The Company and Co-Borrowers have duly taken all corporate or limited
liability company action necessary to authorize the execution and delivery of this Amendment and to authorize the performance of the obligations of the Company and Co-Borrowers hereunder. 

 

					
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[FIFTH AMENDMENT TO SEVENTH 
AMENDED
 AND RESTATED CREDIT
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 (c)        The execution and delivery by each of the
Company and Co-Borrowers of this Amendment, the performance by each of the Company and Co-Borrowers of its obligations hereunder and the consummation of the transactions contemplated hereby do not and will not conflict with any provision of law,
statute, rule or regulation or of the certificate of incorporation or organization, bylaws, or agreement of limited liability company of the Company or either of the Co-Borrowers (as applicable), or of any material agreement, judgment, license,
order or permit applicable to or binding upon the Company or either of the Co-Borrowers, or result in the creation of any lien, charge or encumbrance upon any assets or properties of the Company or either of the Co-Borrowers. Except for those which
have been obtained, no consent, approval, authorization or order of any court or governmental authority or third party is required in connection with the execution and delivery by the Company and Co-Borrowers of this Amendment or to consummate the
transactions contemplated hereby. 
 (d)        When duly executed and delivered, each
of this Amendment and the Credit Agreement will be a legal and binding obligation of the Company and Co-Borrowers, enforceable in accordance with its terms, except as limited by bankruptcy, insolvency or similar laws of general application relating
to the enforcement of creditors’ rights and by equitable principles of general application. 

(e)        The audited annual consolidated financial statements of the Company dated as of
December 31, 2009 fairly present the consolidated financial position at such date and the consolidated statement of operations and the changes in consolidated financial position for the period ending on such date for the Company. Copies of such
financial statements have heretofore been delivered to each Lender. Since such date no material adverse change has occurred in the financial condition or businesses or in the consolidated financial condition or businesses of the Company. 

ARTICLE V. 

MISCELLANEOUS 

Section 5.1.    Ratification of Agreements.  The Credit Agreement as hereby modified and each
of the Security Documents is hereby ratified and confirmed in all respects. Each Loan Party affirms that the terms of the Security Documents secure, and shall continue to secure, all of the Obligations, after giving effect to this Amendment. Any
reference to the Credit Agreement in any Loan Document shall be deemed to be a reference to the Credit Agreement as hereby modified. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate
as a waiver of any right, power or remedy of the Lenders under the Credit Agreement, the Notes, or any other Loan Document nor constitute a waiver of any provision of the Credit Agreement, the Notes or any other Loan Document. 

Section 5.2.    Loan Documents.  This Amendment is a Loan Document, and all provisions in the
Credit Agreement pertaining to Loan Documents apply hereto. 
  

					
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[FIFTH AMENDMENT TO SEVENTH 
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 Section 5.3.    Governing Law.  This Amendment
shall be governed by and construed in accordance with the laws of the State of Texas and any applicable laws of the United States of America in all respects, including construction, validity and performance. 

Section 5.4.    Counterparts; Fax.  This Amendment may be separately executed in counterparts
and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to constitute one and the same Agreement. This Amendment may be validly executed by facsimile or other electronic transmission. 

THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE
OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS OF THE PARTIES. 

[The remainder of this page intentionally left blank. Signature pages follow.] 

 

					
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[FIFTH AMENDMENT TO SEVENTH 
AMENDED
 AND RESTATED CREDIT
AGREEMENT]

 IN WITNESS WHEREOF, this Amendment is executed as of the date first above written.

  

			
	CHESAPEAKE ENERGY CORPORATION
	CHESAPEAKE EXPLORATION, L.L.C.
	CHESAPEAKE APPALACHIA, L.L.C.
		
	By:	 	/S/ JENNIFER M. GRIGSBY
		 	Jennifer M. Grigsby
		 	Treasurer and Senior Vice President

  

			
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FIFTH AMENDMENT TO SEVENTH AMENDED

AND RESTATED CREDIT AGREEMENT]

			
	UNION BANK, N.A.,
	as Administrative Agent, as Swing Line Lender, as an Issuing Lender and as a Lender
		
	By:	 	/S/ RANDALL OSTERBERG
	Name:	 	Randall Osterberg
	Title:	 	Senior Vice President

  

			
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AND RESTATED CREDIT AGREEMENT]

			
	THE ROYAL BANK OF SCOTLAND plc, as Syndication Agent, as an Issuing Lender and as a Lender
		
	By:	 	/S/ LUCY WALKER
	Name:	 	Lucy Walker
	Title:	 	Vice President

  

			
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AND RESTATED CREDIT AGREEMENT]

			
	 BNP PARIBAS, as Co-Documentation Agent

and as a Lender

		
	By:	 	/S/ POLLY SCHOTT
	Name:	 	Polly Schott
	Title:	 	Director
		
	By:	 	/S/ BETSY JOCHER
	Name:	 	Betsy Jocher
	Title:	 	Director

  

			
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AND RESTATED CREDIT AGREEMENT]

			
	BANK OF AMERICA, N.A.,
	as Co-Documentation Agent and as a Lender
		
	By:	 	/S/ RONALD E. MCKAIG
	Name:	 	Ronald E. McKaig
	Title:	 	Senior Vice President

  

			
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	SUNTRUST BANK, as Co-Documentation Agent and as a Lender
		
	By:	 	/S/ DAVID SIMPSON
	Name:	 	David Simpson
	Title:	 	Vice President

  

			
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	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, FORMERLY KNOWN AS CALYON NEW YORK BRANCH,
	as a Lender
		
	By:	 	/S/ DENNIS PETITO
	Name:	 	Dennis Petito
	Title:	 	Managing Director
		
	By:	 	/S/ MICHAEL WILLIS
	Name:	 	Michael Willis
	Title:	 	Managing Director

  

			
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	FORTIS CAPITAL CORP., as a Lender
		
	By:	 	/S/ POLLY SCHOTT
	Name:	 	Polly Schott
	Title:	 	Director
		
	By:	 	/S/ BETSY JOCHER
	Name:	 	Betsy Jocher
	Title:	 	Director

  

			
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	 WACHOVIA BANK, NATIONAL

ASSOCIATION, as a Lender

		
	By:	 	/S/ J. ALAN ALEXANDER
	Name:	 	J. Alan Alexander
	Title:	 	SVP

  

			
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	WELLS FARGO BANK, N.A., as a Lender
		
	By:	 	/S/ J. ALAN ALEXANDER
	Name:	 	J. Alan Alexander
	Title:	 	SVP

  

			
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	BANK OF SCOTLAND plc, as a Lender
		
	By:	 	/S/ JULIA R. FRANKLIN
	Name:	 	Julia R. Franklin
	Title:	 	Assistant Vice President

  

			
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	CITICORP USA, INC., as a Lender
		
	By:	 	/S/ JOHN MILLER
	Name:	 	John Miller
	Title:	 	Vice President

  

			
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	BMO CAPITAL MARKETS FINANCING, INC., as a Lender
		
	By:	 	/S/ GUMARO TIJERINA
	Name:	 	Gumaro Tijerina
	Title:	 	Director

  

			
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	THE BANK OF NOVA SCOTIA, as a Lender
		
	By:	 	/S/ JOHN FRAZELL
	Name:	 	John Frazell
	Title:	 	Director

  

			
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	U.S. BANK NATIONAL ASSOCIATION, as a Lender
		
	By:	 	/S/ MARK E.THOMPSON
	Name:	 	Mark E. Thompson
	Title:	 	Senior Vice President

  

			
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AND RESTATED CREDIT AGREEMENT]

			
	BARCLAYS BANK PLC, as a Lender
		
	By:	 	/S/ SAM YOO
	Name:	 	Sam Yoo
	Title:	 	Assistant Vice President

  

			
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AND RESTATED CREDIT AGREEMENT]

			
	ABN AMRO BANK N.V., as a Lender
		
	By:	 	/S/ MICHELE COSTELLO
	Name:	 	Michele Costello
	Title:	 	Director
		
	By:	 	/S/ MARC BRONDYKE
	Name:	 	Marc Brondyke
	Title:	 	Associate

  

			
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	NATIXIS, as a Lender
		
	By:	 	/S/ DONOVAN C. BROUSSARD
	Name:	 	Donovan C. Broussard
	Title:	 	Managing Director
		
	By:	 	/S/ LIANA TCHERNYSHEVA
	Name:	 	Liana Tchernysheva
	Title:	 	Director

  

			
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	COMERICA BANK, as a Lender
		
	By:	 	/S/ DUSTIN HANSEN
	Name:	 	DUSTIN HANSEN
	Title:	 	SENIOR VICE PRESIDENT

  

			
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	BANK OF OKLAHOMA, N.A., as a Lender
		
	By:	 	/S/ MIKE WEATHERHOLT
	Name:	 	Mike Weatherholt
	Title:	 	Assistant Vice President

  

			
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	TORONTO DOMINION (TEXAS) LLC, as a Lender
		
	By:	 	/S/ JACKIE BARRETT
	Name:	 	JACKIE BARRETT
	Title:	 	AUTHORIZED SIGNATORY

  

			
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	COMPASS BANK, as a Lender
		
	By:	 	/S/ KATHLEEN J. BOWEN
	Name:	 	Kathleen J. Bowen
	Title:	 	Senior Vice President

  

			
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AND RESTATED CREDIT AGREEMENT]

			
	MIDFIRST BANK, as a Lender
		
	By:	 	/S/ STEVE A. GRIFFIN
	Name:	 	Steve A. Griffin
	Title:	 	Senior Vice President

  

			
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AND RESTATED CREDIT AGREEMENT]

			
	CREDIT SUISSE, CAYMAN ISLANDS BRANCH, as a Lender
		
	By:	 	/S/ NUPUR KUMAR
	Name:	 	Nupur Kumar
	Title:	 	Vice President
		
	By:	 	/S/ LYNNE-MARIE PAQUETTE
	Name:	 	Lynne-Marie Paquette
	Title:	 	Associate

  

			
		 	 [SIGNATURE PAGE TO

FIFTH AMENDMENT TO SEVENTH AMENDED

AND RESTATED CREDIT AGREEMENT]

			
	UBS LOAN FINANCE LLC, as a Lender
		
	By:	 	/S/ IRJA R. OTSA
	Name:	 	Irja R. Otsa
	Title:	 	Associate Director
		
	By:	 	/S/ MARY E. EVANS
	Name:	 	Mary E. Evans
	Title:	 	Associate Director

  

			
		 	 [SIGNATURE PAGE TO

FIFTH AMENDMENT TO SEVENTH AMENDED

AND RESTATED CREDIT AGREEMENT]

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Lender
		
	By:	 	/S/ PAUL O’LEARY
	Name:	 	Paul O’Leary
	Title:	 	Director
		
	By:	 	/S/ DUSAN LAZAROV
	Name:	 	Dusan Lazarov
	Title:	 	Director

  

			
		 	 [SIGNATURE PAGE TO

FIFTH AMENDMENT TO SEVENTH AMENDED

AND RESTATED CREDIT AGREEMENT]

			
	GOLDMAN SACHS BANK USA, as a Lender
		
	By:	 	/S/ JOHN MAKRINOS
	Name:	 	John Makrinos
	Title:	 	Authorized Signatory

  

			
		 	 [SIGNATURE PAGE TO

FIFTH AMENDMENT TO SEVENTH AMENDED

AND RESTATED CREDIT AGREEMENT]

			
	GOLDMAN SACHS CREDIT PARTNERS L.P., as a Lender
		
	By:	 	/S/ JOHN MAKRINOS
	Name:	 	John Makrinos
	Title:	 	Authorized Signatory

  

			
		 	 [SIGNATURE PAGE TO

FIFTH AMENDMENT TO SEVENTH AMENDED

AND RESTATED CREDIT AGREEMENT]

			
	ROYAL BANK OF CANADA, as a Lender
		
	By:	 	/S/ DON J. MCKINNERNEY
	Name:	 	Don J. McKinnerney
	Title:	 	Authorized Signatory

  

			
		 	 [SIGNATURE PAGE TO

FIFTH AMENDMENT TO SEVENTH AMENDED

AND RESTATED CREDIT AGREEMENT]

			
	WOODLANDS COMMERCIAL BANK
		
	By:	 	/S/ BRIAN HALBEISEN
	Name:	 	Brian Halbeisen
	Title:	 	Vice President

  

			
		 	 [SIGNATURE PAGE TO

FIFTH AMENDMENT TO SEVENTH AMENDED

AND RESTATED CREDIT AGREEMENT]

 CONSENT AND AGREEMENT 

By its execution below, each of the undersigned hereby (i) consents to the provisions of this Amendment and the transactions
contemplated herein, (ii) ratifies and confirms the Fifth Amended and Restated Guarantee Agreement dated as of November 2, 2007 made by it for the benefit of Administrative Agent and Lenders (as modified by certain Assumption Agreements,
if any) and the other Loan Documents executed pursuant to the Credit Agreement (or any prior amendment or supplement to the Credit Agreement), (iii) agrees that all of its respective obligations and covenants thereunder shall remain unimpaired
by the execution and delivery of this Amendment and the other documents and instruments executed in connection herewith, and (iv) agrees that the Fifth Amended and Restated Guarantee Agreement and such other Loan Documents shall remain in full
force and effect. 
  

	
	Corporations:
	
	 CHESAPEAKE ENERGY CORPORATION

	 CHESAPEAKE ENERGY LOUISIANA CORPORATION

	 CHESAPEAKE ENERGY MARKETING, INC.

	 GENE D. YOST & SON, INC.

	 DIAMOND Y ENTERPRISE, INCORPORATED

	
	 CHESAPEAKE OPERATING, INC.

	 On behalf of itself and, as general partner of the following limited partnership:

	
	CHESAPEAKE LOUISIANA, L.P.
	
	Limited Liability Companies:
	
	 HODGES TRUCKING COMPANY, L.L.C.

	 CARMEN ACQUISITION, L.L.C.

	 CHESAPEAKE-CLEMENTS ACQUISITION, L.L.C.

	 CHESAPEAKE PLAZA, L.L.C.

	 CHESAPEAKE ROYALTY, L.L.C.

	 COMPASS MANUFACTURING, L.L.C.

	 GOTHIC PRODUCTION, L.L.C.

	 GREAT PLAINS OILFIELD RENTAL, L.L.C.

	 MC MINERAL COMPANY, L.L.C.

	 CHESAPEAKE LAND DEVELOPMENT COMPANY, L.L.C.

	 HAWG HAULING & DISPOSAL, LLC

	 CHK HOLDINGS, L.L.C.

	 MIDCON COMPRESSION, L.L.C.

	 NOMAC DRILLING, L.L.C.

  

					
	Limited Partnerships:
	
	EMLP, L.L.C.
	Solely as general partner of the following limited partnership:
	
	EMPRESS LOUISIANA PROPERTIES, L.P.
			
		 	By:	 	/S/ JENNIFER M. GRIGSBY
		 		 	Jennifer M. Grigsby
		 		 	Treasurer and Senior Vice President of the entities listed aboveForm of Restricted Stock Award Agreement

 Exhibit 10.1.14.1 

RESTRICTED STOCK AWARD AGREEMENT FOR 

CHESAPEAKE ENERGY CORPORATION 

LONG TERM INCENTIVE PLAN 

THIS RESTRICTED STOCK AWARD AGREEMENT (the “Agreement”) entered into as of the grant date set forth on the
attached Notice of Grant of Award and Award Agreement (the “Notice”), by and between Chesapeake Energy Corporation, an Oklahoma corporation (the “Company”), and the participant named on the Notice (the “Participant”);

 W I T N E S S E T H: 

WHEREAS, the Participant is an Employee or Consultant, and it is important to the Company that the Participant be
encouraged to remain an Employee or Consultant; and 
 WHEREAS, the Company has previously adopted the
Chesapeake Energy Corporation Long Term Incentive Plan (the “Plan”); and 
 WHEREAS, the Company has
awarded the Participant shares of Common Stock under the Plan, as set forth on the Notice, subject to the terms and conditions of this Agreement; and 

NOW, THEREFORE, in consideration of the premises and the mutual promises and covenants herein contained, the Participant
and the Company agree as follows: 
 1.        The
Plan.    The Plan, a copy of which has been made available to the Participant, is hereby incorporated by reference herein and made a part hereof for all purposes, and when taken with this Agreement shall govern the rights of
the Participant and the Company with respect to the Award (as defined below). Any capitalized terms used but not defined in this Agreement have the same meanings given to them in the Plan. 

2.        Grant of Award.    The Company hereby
awards to the Participant the number of shares of Common Stock set forth on the Notice, on the terms and conditions set forth herein and in the Plan (the “Award”). 

3.        Terms of Award. 

(a)        Escrow of Shares.    A certificate, or
book-entry equivalent representing the shares of Common Stock subject to the Award (the “Restricted Stock”) shall be issued in the name of the Participant and shall be escrowed with the Secretary of the Company (the “Escrow
Agent”) subject to removal of the restrictions placed thereon or forfeiture pursuant to the terms of this Agreement. 

(b)        Vesting.    The shares of Restricted Stock
will vest based on the Participant’s continuous employment with or service to the Company, a Subsidiary or Affiliated Entity in accordance with the vesting schedule set forth on the Notice. Once vested pursuant to the terms of this Agreement,
the Restricted Stock shall be deemed “Vested Stock.” 

 (c)        Voting Rights and
Dividends.    The Participant shall not have the voting rights attributable to the shares of Restricted Stock issued under this Award. No dividends will be paid to the Participant with respect to shares of Restricted Stock
until such Restricted Stock becomes Vested Stock. 

(d)        Vested Stock - Removal of
Restrictions.    Upon Restricted Stock becoming Vested Stock, all restrictions shall be removed from the Stock and the Secretary of the Company shall deliver to the Participant shares either in certificate form or via
D.W.A.C. (delivery/withdrawal at custodian) representing such Vested Stock free and clear of all restrictions, except for any applicable securities laws restrictions or restrictions pursuant to the Company’s Insider Trading Policy. 

(e)        Forfeiture.    Restricted Stock that does
not become Vested Stock pursuant to the terms of this Agreement shall be absolutely forfeited and the Participant shall have no future interest therein of any kind whatsoever. In the event the Participant’s employment with or service to the
Company, a Subsidiary or an Affiliated Entity terminates prior to all shares of Restricted Stock becoming Vested Stock, then such unvested shares of Restricted Stock shall be absolutely forfeited on the date of termination and the Participant shall
have no further interest therein of any kind whatsoever. The Committee may, in its discretion, accelerate the vesting of the Restricted Stock in the event of the Participant’s death, Disability or termination due to special circumstances (as
determined by the Committee in its sole discretion). 

4.        Fundamental Transaction; Change of
Control.    In accordance with the terms of the Plan, all Restricted Stock that becomes Vested Stock upon the occurrence of a Fundamental Transaction or a Change of Control shall be delivered to the Participant in certificate
form or via D.W.A.C. free and clear of all restrictions, except for any applicable securities law restrictions. 

5.        Nontransferability of Award.    Restricted
Stock is not transferable other than by will or the laws of descent and distribution. Any attempted sale, assignment, transfer, pledge, hypothecation or other disposition of, or the levy of execution, attachment or similar process upon, Restricted
Stock contrary to the provisions hereof shall be void and ineffective, shall give no right to any purported transferee, any may, at the sole discretion of the Committee, result in forfeiture of the Restricted Stock involved in such attempt.

 6.        Withholding.    The Company may
make such provision as it may deem appropriate for the withholding of any applicable federal, state or local taxes that it determines it may be obligated to withhold or pay in connection with the vesting of the Restricted Stock or any election made
by the Participant. Required withholding taxes as determined by the Company associated with this Award must be paid in cash unless the Committee requires the Participant to pay such withholding taxes by directing the Company to withhold from the
Award the number of shares of Common Stock having a Fair Market Value on the date of vesting equal to the amount of required withholding taxes. 

7.        Notification of 83(b) Election.    In the
event the Participant elects to make an 83(b) election with respect to this Award, the Participant must provide the Company notice of such election at the same time the election is filed with the Internal Revenue Service. The Participant must also
tender to the Company payment of the required withholding taxes associated with such election. In the event the Participant makes an 83(b) election without consulting with the Company as to the payment of required withholding taxes, the Company may
withhold from other payments to the Participant amounts necessary to effect the required withholding. 
  

 2 

8.        Amendments.    This Award Agreement may be
amended by a written agreement signed by the Company and the Participant; provided that the Committee may modify the terms of this Award Agreement without the consent of the Participant in any manner that is not adverse to the Participant.

 9.        Securities Law
Restrictions.    This Award shall be vested and common stock issued only in compliance with the Securities Act of 1933, as amended (the “Act”), and any other applicable securities law, or pursuant to an exemption
therefrom. If deemed necessary by the Company to comply with the Act or any applicable laws or regulations relating to the sale of securities, the Participant at the time of vesting and as a condition imposed by the Company, shall represent, warrant
and agree that the shares of Common Stock subject to the Award are being acquired for investment and not with any present intention to resell the same and without a view to distribution, and the Participant shall, upon the request of the Company,
execute and deliver to the Company an agreement to such a fact. The Participant acknowledges that any stock certificate representing Common Stock acquired under such circumstances will be issued with a restricted securities legend. 

10.      Participant Misconduct.    Notwithstanding anything in
the Plan or this Agreement to the contrary, the Committee shall have the authority to determine that in the event of serious misconduct by the Participant (including violations of employment agreements, confidentiality or other proprietary matters)
or any activity of a Participant in competition with the business of the Company or any Subsidiary or Affiliated Entity, the Stock Option may be cancelled, in whole or in part, whether or not vested. The determination of whether a Participant has
engaged in a serious breach of conduct or any activity in competition with the business of the Company or any Subsidiary or Affiliated Entity shall be determined by the Committee in good faith and in its sole discretion. This paragraph 10 shall have
no effect and be deleted from this Agreement following a Change of Control. 

11.      Notices.    All notices or other communications
relating to the Plan and this Agreement as it relates to the Participant shall be in electronic or written form. If in writing, such notices shall be deemed to have been made if personally delivered in return for a receipt, or if mailed, by regular
U.S. mail, postage prepaid, by the Company to the Participant at his last known address evidenced on the payroll records of the Company. 

12.      Binding Effect and Governing Law.    This Agreement
shall be (i) binding upon and inure to the benefit of the parties hereto and their respective heirs, successors and assigns except as may be limited by the Plan and (ii) governed and construed under the laws of the State of Oklahoma.

  

 3 

13.      Captions.    The captions of specific provisions of
this Agreement are for convenience and reference only, and in no way define, describe, extend or limit the scope of this Agreement or the intent of any provision hereof. 

14.      Counterparts.    This Agreement may be executed in any
number of identical counterparts, each of which shall be deemed an original for all purposes, but all of which taken together shall form but one agreement. 
  

 4 

							
		  	Chesapeake Energy Corporation	  	
	Notice of Grant of Award	  	 ID: 73-1395733
	  	
	and Award Agreement	  	 6100 N. Western Avenue
	  	
		  	 Oklahoma City, OK 73118
	  	
				
	 <NAME>
	  	 Award Number:
	 	  
	  	
	 <ADDRESS>
	  	 Plan:
	 	 LTIP
	  	
	 <ADDRESS>
	  	 ID:
	 	  
	  	

 Effective <date>, you have been granted an award of <number> shares
of Chesapeake Energy Corporation (the Company) common stock. These shares are restricted until the vest date(s) shown below. 
 The
current total value of the award is $                        . 

The award will vest in increments on the date(s) shown. [four equal annual installments] 

 

							
		 	     Shares
	    	 Full Vest

		 		 	  
	    	 mm/dd/yyyy

		 		 	  
	    	 mm/dd/yyyy

		 		 	  
	    	 mm/dd/yyyy

		 		 	  
	    	 mm/dd/yyyy

 By your signature and the
Company’s signature below, you and the Company agree that this award is granted under and governed by the terms and conditions of the Company’s Award Plan as amended and the Award Agreement, all of which are attached and made a part of
this document. 
  

					
	 Chesapeake Energy Corporation
	 	 Date
	  	
			
	 <NAME>
	 	 Date
	  	

  

 1

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