Document:

EX-4.10

 Exhibit 4.10 

UNIT CORPORATION, 
 THE
SUBSIDIARY GUARANTORS PARTIES HERETO 
 AND 

WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as TRUSTEE 
  

 
 SECOND
SUPPLEMENTAL INDENTURE 
 Dated as of January 7, 2013 

 
  

$400,000,000 
 65/8% Senior Subordinated Notes due 2021 

 THIS SECOND SUPPLEMENTAL INDENTURE is made as of the 7th day of January, 2013, by and among UNIT
CORPORATION, a Delaware corporation (the “Company”), the Subsidiary Guarantors parties hereto (each, a “Subsidiary Guarantor” and, collectively, the “Subsidiary Guarantors”) and WILMINGTON TRUST,
NATIONAL ASSOCIATION, as trustee (the “Trustee”). 
 WHEREAS, the Company and the Trustee executed and delivered an
Indenture, dated as of May 18, 2011 (the “Original Indenture”), to provide for the issuance by the Company from time to time of unsecured debentures, notes, and other evidences of indebtedness (the “Debt
Securities”), to be issued in one or more series as provided in the Original Indenture; 
 WHEREAS, on May 18, 2011, the
Company issued $250,000,000 aggregate principal amount of its 65/8% Senior Subordinated Notes due 2021 (the “2011 Notes”)
pursuant to a First Supplemental Indenture to the Original Indenture dated as of May 18, 2011, between the Company, the Subsidiary Guarantors and the Trustee (the “First Supplemental Indenture”); 

WHEREAS, the Original Indenture and the First Supplemental Indenture are incorporated herein by this reference and the Original Indenture, as
supplemented by the First Supplemental Indenture and this Second Supplemental Indenture, is herein called the “Indenture”; 

WHEREAS, on July 24, 2012, the Company issued $400,000,000 aggregate principal amount of its 65/8% Senior Subordinated Notes due 2021 (the “2012 Notes”), pursuant to that certain Indenture dated as of July 24, 2012,
between the Company and Wilmington Trust, National Association, as trustee, as supplemented by that certain First Supplemental Indenture thereto dated as of July 24, 2012, between the Company, the Subsidiary Guarantors and the trustee; 

WHEREAS, pursuant to that certain Registration Rights Agreement dated as of July 24, 2012, between the Company, the Subsidiary Guarantors
and Merrill Lynch, Pierce, Fenner & Smith Incorporated, the Company agreed to offer the holders of the 2012 Notes the opportunity to exchange all such outstanding 2012 Notes (and the guarantees thereof) for notes and guarantees registered
under the Securities Act of 1933, as amended, with terms that are substantially identical to the 2012 Notes and the guarantees thereof (the “Exchange Offer”); 

WHEREAS, the Exchange Offer commenced on November 29, 2012 and expired at 5:00 p.m. (New York City time) on January 4, 2013 and 100%
of the 2012 Notes were tendered for exchange pursuant to the Exchange Offer; 
 WHEREAS, pursuant to Section 1.10 of the First
Supplemental Indenture, the Company may from time to time create and issue Additional Notes (as defined in the First Supplemental Indenture) having the same terms and conditions as the 2011 Notes; 

 WHEREAS, the Company proposes to issue $400,000,000 65/8% Senior Subordinated Notes due 2021 as
Additional Notes under the First Supplemental Indenture and in exchange for the 2012 Notes tendered in the Exchange Offer; and 
 WHEREAS,
all conditions necessary to authorize the execution and delivery of this Second Supplemental Indenture and to make it a valid and binding obligation of the Company and the Subsidiary Guarantors, in accordance with its terms, have been done or
performed. 
 NOW THEREFORE, in consideration of the agreements and obligations set forth herein and for other good and valuable
consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE 1 

65/8% SENIOR
SUBORDINATED NOTES DUE 2021 
 Section 1.01. Establishment. There is hereby
established under the Indenture, an additional $400,000,000 of the Company’s 65/8% Senior Subordinated Notes due 2021 (the
“Exchange Notes”), which are to be issued as Additional Notes under the First Supplemental Indenture and in exchange for the 2012 Notes tendered in the Exchange Offer. The Exchange Notes are consolidated with and form a single
series with the 2011 Notes for all purposes under the Indenture, including, without limitation, amendments, waivers and redemptions. 

There are to be authenticated and delivered Exchange Notes in an aggregate principal amount of $400,000,000. The Exchange Notes shall be
issued in fully registered form without coupons. 
 The Exchange Notes shall be issued in the form of one or more Global Securities (as
defined in the First Supplemental Indenture) in substantially the form set out in Exhibit A hereto. The initial Depositary with respect to the Exchange Notes shall be The Depository Trust Company. 

ARTICLE 2 

SUBSIDIARY GUARANTEES 

Section 2.01. Guarantee. Each Subsidiary Guarantor party hereto confirms and acknowledges its continuing joint and several and
full and unconditional guaranty of the Exchange Notes as set forth in Article 2 of the First Supplemental Indenture. 

  
 2 

 ARTICLE 3 

MISCELLANEOUS PROVISIONS 

Section 3.01. Executed in Counterparts. This Second Supplemental Indenture may be simultaneously executed in several counterparts,
each of which shall be deemed to be an original, and such counterparts shall together constitute but one and the same instrument.  

Section 3.02. NEW YORK LAW TO GOVERN. THIS SECOND SUPPLEMENTAL INDENTURE AND EACH EXCHANGE NOTE SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK. 
 Section 3.03. Successors and Assigns. All covenants and
agreements in this Second Supplemental Indenture and each Exchange Note by the Company shall bind its successors and assigns, whether so expressed or not. 

Section 3.04. Separability. In case any provision in this Second Supplemental Indenture or in any Exchange Note shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 3.05 Trustee Matters. The Trustee makes no representations as to the validity or sufficiency of this Second Supplemental
Indenture or of the Exchange Notes. All of the provisions contained in the Original Indenture in respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect of the Exchange Notes and of this Second
Supplemental Indenture as fully and with like effect as if set forth herein in full. 
 Section 3.06 Ratification and Incorporation
of Original Indenture and First Supplemental Indenture. As supplemented hereby, the Original Indenture and the First Supplemental Indenture are in all respects ratified and confirmed, and the Original Indenture, the First Supplemental Indenture
and this Second Supplemental Indenture shall be read, taken and construed as one and the same instrument. The changes, modifications and supplements to the Original Indenture and the First Supplemental Indenture effected by this Second Supplemental
Indenture shall be applicable only with respect to, and shall only govern the terms of, the Exchange Notes, and shall not apply to any other Securities that may be issued under the Original Indenture unless a supplemental indenture with respect to
such other Securities specifically incorporates such changes, modifications and supplements. The provisions of this Second Supplemental Indenture shall supersede any conflicting provisions in the Original Indenture or First Supplemental Indenture.

 [signature pages follow] 

  
 3 

 IN WITNESS WHEREOF, each party hereto has caused this instrument to be signed in its name and
behalf by its duly authorized officers, all as of the day and year first above written. 
  

			
	UNIT CORPORATION
		
	By:	 	 /s/ Larry D. Pinkston

	Name:	 	Larry D. Pinkston
	Title:	 	President and Chief Executive Officer
	
	 UNIT DRILLING COMPANY
 UNIT
PETROLEUM COMPANY
 UNIT TEXAS COMPANY
 UNIT DRILLING AND
EXPLORATION COMPANY
 PETROLEUM SUPPLY COMPANY

		
	By:	 	 /s/ Mark E. Schell

	Name:	 	Mark E. Schell
	Title:	 	Senior Vice President
	
	 UNIT DRILLING USA COLOMBIA, L.L.C.

UNIT DRILLING COLOMBIA, L.L.C.

		
	By:	 	 /s/ Mark E. Schell

	Name:	 	Mark E. Schell
	Title:	 	Manager

 [Signature Page to Second Supplemental Indenture] 

 
			
	 UNIT TEXAS DRILLING, L.L.C.
 PRESTON
COUNTY GAS GATHERING,
 L.L.C.

		
	By:	 	 /s/ Mark. E. Schell

	Name:	 	Mark E. Schell
	Title:	 	Manager

 
			
		
	By:	 	 /s/ Larry D. Pinkston

	Name:	 	Larry D. Pinkston
	Title:	 	Manager
	
	SUPERIOR PIPELINE COMPANY, L.L.C.
	SUPERIOR PIPELINE TEXAS, L.L.C.
	SUPERIOR APPALACHIAN PIPELINE, 
	L.L.C.
		
	By:	 	 /s/ Mark E. Schell

	Name:	 	Mark E. Schell
	Title:	 	Manager
		
	By:	 	 /s/ Larry D. Pinkston

	Name:	 	Larry D. Pinkston
	Title:	 	Manager
		
	By:	 	 /s/ Robert H. Parks

	Name:	 	Robert H. Parks
	Title:	 	Manager

 [Signature Page to Second Supplemental Indenture] 

 
			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	 /s/ Joseph P. O’Donnell

	Name:	 	Joseph P. O’Donnell
	Title:	 	Vice President

 [Signature Page to Second Supplemental Indenture] 

 EXHIBIT A 

65/8% Senior
Subordinated Note due 2021 
 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW
YORK CORPORATION (“DTC”), TO UNIT CORPORATION OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN
THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF DTC OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON OTHER THAN DTC
OR A NOMINEE THEREOF, AND NO SUCH TRANSFER MAY BE REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF, OR IN EXCHANGE FOR, OR IN LIEU OF, THIS
SECURITY WILL BE A GLOBAL SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES. 

 CUSIP No. 909218 AB5 

ISIN No. US909218AB56 
 65/8% Senior Subordinated Notes due 2021 

Principal amount at Maturity $400,000,000 

UNIT CORPORATION 
 Unit
Corporation, a Delaware corporation (the “Company”) promises to pay to Cede & Co., or registered assigns, the principal sum of 400,000,000 Dollars on May 15, 2021 or such greater or lesser amount as may be indicated on
Schedule A hereto. 
 Interest Payment Dates: May 15 and November 15, commencing May 15, 2013 

Regular Record Dates: May 1 and November 1 

Additional provisions of this Note are set forth on the other side of this Note. 

Dated: 
  

			
	UNIT CORPORATION
		
	By:	 	  

	Name:	 	Larry D. Pinkston
	Title:	 	President and Chief Executive Officer
		
	By:	 	  

	Name:	 	Mark E. Schell
	Title:	 	Senior Vice President and Secretary

  

			
	Attest:
		
	By:	 	  

		 	

	
	TRUSTEE’S CERTIFICATE OF AUTHENTICATION
	
	 This is one of the Global Securities
 referred
to in the within-mentioned
 Indenture:

  

			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

		 	Authorized Signatory

 Date: January 7, 2013 

 [REVERSE OF NOTE] 

65/8% Senior Subordinated Notes
due 2021 
 Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise
indicated. 
 (1) Interest. Unit Corporation, a Delaware corporation (together with its permitted successors, the
“Company”), promises to pay interest on the principal amount of this Note at 65/8% per annum from November 15, 2012 until the principal hereof is paid or made available for payment. The Company shall pay interest, if any,
semi-annually in arrears on May 15 and November 15 of each such year, commencing May 15, 2013, or if any such day is not a Business Day, on the next succeeding Business Day (each an “Interest Payment Date”). Interest
on the Notes shall accrue from the most recent date to which interest has been paid or, if no interest has been paid, from November 15, 2012; provided that if this Note is authenticated between a record date referred to on the face
hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be the first of May 15 or November 15 to occur after
the date of issuance, unless such May 15 or November 15 occurs within one calendar month of such date of issuance, in which case the first Interest Payment Date shall be the second of May 15 or November 15 to occur after the date
of issuance. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. 
 (2) Method of Payment. The Company
shall pay interest on the Notes (except defaulted interest) to the Person in whose name(s) this Note is registered at the close of business on the May 1 or November 1 next preceding the Interest Payment Date (each, a “Regular
Record Date”); provided that interest payable at the Stated Maturity or on a Redemption Date as provided in the Indenture will be paid to the Person to whom principal is payable. The Notes shall be payable as to principal of or
premium, if any, or interest at the office or agency of the Company maintained for such purpose, or, at the option of the Company, payment of interest may be made by check mailed to the Holders at their addresses set forth in the Security Register
or by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least 15 days prior to the date for payment by the Person entitled thereto. Such payment shall be
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. 

(3) Paying Agent and Registrar. Initially, Wilmington Trust, National Association, the Trustee under the Indenture, shall act as Paying
Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. The Company or any of its Subsidiaries may act in any such capacity. 

(4) Indenture. The Company issued the Notes under an Indenture, dated as of May 18, 2011 (the “Original
Indenture”), between the Company and the Trustee, as supplemented by the First Supplemental Indenture, dated as of May 18, 2011, among the Company, the Subsidiary Guarantors (as defined therein) parties thereto and the Trustee (the
“First Supplemental Indenture”), as further supplemented by the Second Supplemental Indenture, dated as of January 7, 2013, among the Company, the Subsidiary Guarantors (as defined therein) parties

 
thereto and the Trustee (the “Second Supplemental Indenture”; and together with the Original Indenture and the First Supplemental Indenture, the
“Indenture”). The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (15 U.S. Code §§ 77aaa-77bbbb). The Notes
are subject to all such terms, and Holders are referred to the Indenture and such Act for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture
shall govern and be controlling. The Notes are obligations of the Company initially in the aggregate principal amount of $400,000,000. Subject to compliance with Section 1.10 of the First Supplemental Indenture, the Company is permitted to
issue Additional Notes under the Indenture in an unlimited principal amount. Any such Additional Notes that may be issued shall be treated as issued and outstanding Notes for all purposes of the Indenture, unless the context clearly indicates
otherwise. 
 (5) Subordination. The Notes are subordinated in right of payment, in the manner and to the extent set forth in the
Indenture. Each Holder by his acceptance hereof agrees to be bound by such provisions and authorizes and expressly directs the Trustee, on his behalf, to take such action as may be necessary or appropriate to effectuate the subordination provided
for in the Indenture and appoints the Trustee his attorney-in-fact for such purposes. 
 (6) Guarantees. This Note is guaranteed by
the Persons, if any, specified as Subsidiary Guarantors in the Indenture to the extent provided in the Indenture. The Subsidiary Guarantees are subordinated to the Senior Indebtedness of the applicable Subsidiary Guarantor in the manner and to the
extent provided in the Indenture. Each Holder by his acceptance hereof agrees to be bound by such provisions and authorizes and expressly directs the Trustee, on his behalf, to take such action as may be necessary or appropriate to effectuate the
subordination provided for in the Indenture and appoints the Trustee his attorney-in-fact for such purposes. 
 (7) Optional
Redemption. 
 (a) Except as set forth in Section 1.08 of the First Supplemental Indenture and clauses (b) and (c) of this
Paragraph 7, the Notes are not redeemable until May 15, 2016. On and after May 15, 2016, the Company may redeem all or, from time to time, a part of the Notes upon not less than 30 nor more than 60 days’ notice, at the following
redemption prices (expressed as a percentage of principal amount) plus accrued and unpaid interest on the Notes (the “Redemption Price”), if any, to the applicable redemption date (subject to the right of Holders of record on the
Regular Record Date to receive interest due on the relevant Interest Payment Date) (a “Redemption Date”), if redeemed during the twelve-month period beginning on May 15 of the years indicated below: 

 

					
	 YEAR
	  	 Percentage
	 
	 2016
	  	 	103.313	% 
	 2017
	  	 	102.208	% 
	 2018
	  	 	101.104	% 
	 2019 and thereafter
	  	 	100.000	% 

 (b) Notwithstanding the provisions of clause (a) of this Paragraph 7, prior to May 15, 2014, the
Company may on any one or more occasions redeem up to 35% of the original 

 
principal amount of the Notes issued under the Indenture at a redemption price equal to 106.625% of the principal amount thereof, plus accrued and unpaid interest, if any, to the Redemption Date
(subject to the right of Holders of record on the relevant Regular Record Date to receive interest due on the relevant Interest Payment Date), with the Net Cash Proceeds of one or more equity offerings; provided that (1) at least 65% of
the original principal amount of Notes issued under the Indenture remains Outstanding immediately after the occurrence of such redemption; and (2) that such redemption shall occur within 90 days of the date of the closing of such equity
offering. 
 (c) In addition, at any time prior to May 15, 2016, the Company may redeem the Notes, in whole or in part, at a Redemption
Price equal to 100% of the principal amount thereof plus the Applicable Premium plus accrued and unpaid interest, if any, to the Redemption Date (subject to the right of Holders of record on the relevant Regular Record Date to receive interest due
on the relevant Interest Payment Date). 
 (8) Offer to Repurchase Upon Change of Control. Upon the occurrence of a Change of
Control, the Company will be required to offer to repurchase from each Holder all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of such Holder’s Notes pursuant to the offer described below (the
“Change of Control Offer”) at an offer price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest, if any, thereon to the date of purchase (the “Change of Control
Payment”). Within 30 days following any Change of Control, the Company shall mail a notice to each Holder setting forth the procedures governing the Change of Control Offer as required by the Indenture. 

(9) Notice of Redemption. Notice of redemption shall be mailed at least 30 days but not more than 60 days before the redemption date to
each Holder whose Notes are to be redeemed at its address appearing in the Securities Register. The Company shall notify the Trustee of the Redemption Price with respect to the redemption promptly after the calculation thereof. The Trustee shall not
be responsible for calculating the Redemption Price. 
 (10) Denominations, Transfer, Exchange. The Notes are in registered form
without coupons in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. Every Note presented or surrendered for
registration of transfer or exchange will (if so required by the Company or the Trustee) be duly endorsed, or be accompanied by a written instrument or instruments of transfer, in form reasonably satisfactory to the Company and the Security
Registrar duly executed, by the Holder thereof or his attorney duly authorized in writing. The Company need not exchange or register the transfer of any Notes for a period of 15 days before the mailing of the notice of redemption or any Note so
selected for redemption in whole or in part, except in the case of Notes to be redeemed in part, the portion thereof not being redeemed. No service charge will 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 that may be imposed in connection therewith. 
 (11) Persons
Deemed Owners. The registered Holder of a Note may be treated as its owner for all purposes. 

 (12) Amendment, Supplement and Waiver. Subject to certain exceptions, the Indenture, the
Subsidiary Guarantees or the Notes may be amended or supplemented with the consent of the Holders of at least a majority in principal amount of the Notes, and any existing default or compliance with any provision of the Indenture, the Subsidiary
Guarantees or the Notes (other than a Default or Event of Default in the payment of the principal of or premium, if any, or interest on the Notes) or compliance with any provision of the Indenture, the Subsidiary Guarantee or the Notes may be waived
with the consent of the Holders of a majority in principal amount of the Notes. Without the consent of any Holder of a Note, the Indenture, the Subsidiary Guarantee or the Notes may be amended or supplemented in certain limited respects as set forth
in the Indenture. 
 (13) Events of Default. Events of Default include (1) failure to pay principal of or premium, if any, on
any Note when due at its Stated Maturity; (2) failure to pay any interest on any Note when due, which failure continues for 30 calendar days; (3) failure by the Company or any Subsidiary Guarantor to comply with its obligations under
Section 3.10 of the First Supplemental Indenture; (4) failure by the Company to comply with any of its obligations under Article 3 of the First Supplemental Indenture (in each case, other than a failure to purchase Notes which will
constitute an Event of Default under clause (5) of this paragraph 13 and other than a failure to comply with Section 3.10 of the First Supplemental Indenture which is covered by clause (3) of this Paragraph 13), which failure or
breach continues for 30 calendar days after written notice thereof has been given to the Company as provided in the Indenture; (5) failure to redeem or repurchase any Note when required to do so under the terms thereof; (6) failure to
perform, or breach of, any other covenant of the Company in the Indenture (other than a covenant included in the Indenture solely for the benefit of a series of debt securities other than the Notes), which failure or breach continues for 60 calendar
days after written notice thereof has been given to the Company as provided in the Indenture; (7) any nonpayment at maturity or other default (beyond any applicable grace period) under any agreement or instrument relating to any other
Indebtedness of the Company or a Significant Subsidiary, the unpaid principal amount of which is not less than $25 million, which default results in the acceleration of the maturity of the Indebtedness prior to its stated maturity or occurs at the
final maturity thereof; (8) specified events of bankruptcy, insolvency, or reorganization involving the Company or a Significant Subsidiary; (9) failure by the Company or any Significant Subsidiary or group of Restricted Subsidiaries that,
taken together (as of the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries), would constitute a Significant Subsidiary to pay final judgments aggregating in excess of $25 million (net of any amounts
that a reputable and creditworthy insurance company has acknowledged liability for in writing), which judgments are not paid, discharged or stayed for a period of 60 days; or (10) any Subsidiary Guarantee of a Significant Subsidiary or group of
Subsidiary Guarantors that taken together as of the latest audited consolidated financial statements for the Company and its Restricted Subsidiaries would constitute a Significant Subsidiary ceases to be in full force and effect (except as
contemplated by the terms of the Indenture) or is declared null and void in a judicial proceeding or any Subsidiary Guarantor that is a Significant Subsidiary or group of Subsidiary Guarantors that taken together as of the latest audited
consolidated financial statements of the Company and its Restricted Subsidiaries would constitute a Significant Subsidiary denies or disaffirms its obligations under the Indenture or its Subsidiary Guarantee. If any Event of Default (other than an
Event of Default specified in clause (8) of this paragraph) occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Notes may 

 
declare the principal amount of all the Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default specified in clause (8) of this paragraph
13, all outstanding Notes shall become due and payable immediately without any declaration or other act on the part of the Trustee or any Holder. However, at any time after a declaration of acceleration with respect to the Notes has been made, but
before a judgment or decree based on such acceleration has been obtained, the holders of a majority in principal amount of the Notes may, under specified circumstances, rescind and annul such acceleration. 

Subject to the duty of the Trustee to act with the required standard of care during an Event of Default, the Trustee will have no obligation
to exercise any of its rights or powers under the Indenture at the request or direction of the Holders of the Notes, unless holders of the Notes shall have furnished to the Trustee reasonable security or indemnity. Subject to the provisions of the
Indenture, including those requiring security or indemnification of the Trustee, the Holders of a majority in principal amount of the Notes will have the right to direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Notes. 
 Pursuant to the Trust
Indenture Act, the Trustee is required, within 90 calendar days after the occurrence of a Default in respect of the Notes, to give to the Holders of the Notes notice of all uncured Defaults known to it, except that (x) in the case of a Default
in the performance of any covenant of the character contemplated in clause (4) of this paragraph 13, no notice will be given until at least 30 calendar days after the occurrence of the Default, and (y) other than in the case of a Default
of the character contemplated in clause (1) or (2) of this paragraph 13, the Trustee may withhold notice if and so long as it in good faith determines that the withholding of notice is in the interests of the Holders of the Notes. 

No Holder of a Note will have any right to institute any proceeding with respect to the Indenture or for any remedy thereunder unless:
(a) the Holder has previously given to the Trustee written notice of a continuing Event of Default; (b) the Holders of at least 25% in aggregate principal amount of the outstanding Notes have requested the Trustee to institute a proceeding
in respect of the Event of Default; (c) the Holder or Holders have furnished reasonable indemnity to the Trustee to institute the proceeding as Trustee; (d) the Trustee has not received from the Holders of a majority in principal amount of
the outstanding Notes a direction inconsistent with the request; and (e) the Trustee has failed to institute the proceeding within 60 calendar days. However, the limitations described above do not apply to a suit instituted by a Holder of a
Note for enforcement of payment of the principal of and interest on or after the applicable due dates for the payment of such principal and interest. 

(14) Trustee Dealings with Company. The Trustee, in its individual or any other capacity, may become the owner or pledgee of Notes and,
subject to the terms of the Indenture, may otherwise deal with the Company with the same rights it would have if it were not Trustee. 

(15) No Recourse Against Others. No director, officer, employee, incorporator, Affiliate or stockholder of the Company or any of the
Subsidiary Guarantors, as such, will have any liability for any obligations of the Company or such Subsidiary Guarantor under the Notes, the Indenture, the Subsidiary Guarantee 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 the issuance of the Notes. 

 (16) Authentication. This Note shall not be valid until authenticated by the manual
signature of the Trustee or an Authenticating Agent. 
 (17) Abbreviations. Customary abbreviations may be used in the name of a
Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with rights of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act).

 (18) CUSIP, ISIN or Other Similar Numbers. Pursuant to a recommendation promulgated by the Committee on Uniform Security
Identification Procedures, the Company has caused CUSIP, ISIN or other similar numbers to be printed on the Notes and the Trustee may use CUSIP, ISIN or other similar numbers in notices of redemption as a convenience to Holders. No representation is
made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 

(19) GOVERNING LAW. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

 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 I.D. no.)
	
	  

	
	  

	
	  

	
	  

	
	  

	
	  

	
	  

	
	  

	
	  

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

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

 
  

															
	Date:	 	  
	 		 		 		 	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*:	 	
		 		 		 		 	                                    
                                   	 	

  

 

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of a part of this Global Note for an interest in another Global Note, or exchanges of a part of another Global Note
for an interest in this Global Note, have been made: 
  

									
	 Date of Exchange
	  	 Amount of decrease

in Principal Amount
 of this
Global Note
	  	 Amount of

increase in
 Principal
Amount
 of this Global Note
	  	 Principal Amount

of this Global Note

following such
 decrease
(or
 increase)
	  	 Signature of

authorized officer of

Trustee or Note

Custodian

 NOTATION OF GUARANTEE 

For value received, each Subsidiary Guarantor (which term includes any successor Person under the Indenture) has, jointly and severally, fully and
unconditionally and irrevocably guaranteed, to the extent set forth in the First Supplemental Indenture, dated as of May 18, 2011 (the “Indenture”), among Unit Corporation, a Delaware corporation (the “Company”), the
Subsidiary Guarantors named therein and Wilmington Trust, National Association, as trustee (the “Trustee”), and subject to the provisions in the Indenture, (a) the due and punctual payment of the principal of, premium, if any, and
interest on the Notes (as defined in the Indenture), whether at Stated Maturity, by acceleration, redemption or otherwise, the due and punctual payment of interest on overdue principal of and interest, to the extent permitted by law, and the due and
punctual performance of all other obligations of the Company to the Holders or the Trustee all in accordance with the terms of the Indenture and (b) in case of any extension of time of payment or renewal of any Notes or any of such other
obligations, that the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at Stated Maturity, by acceleration or otherwise. 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 Two of the Indenture and reference is hereby made to the Indenture for the precise terms of the Guarantee. This Guarantee shall be
governed by and construed in accordance with the laws of the State of New York. 
  

			
	UNIT DRILLING COMPANY
	UNIT PETROLEUM COMPANY
	UNIT TEXAS COMPANY
	UNIT DRILLING AND EXPLORATION COMPANY
	PETROLEUM SUPPLY COMPANY
		
	By:	 	  

	Name:	 	Mark E. Schell
	Title:	 	Senior Vice President
	
	UNIT DRILLING USA COLOMBIA, L.L.C.
	UNIT DRILLING COLOMBIA, L.L.C.
		
	By:	 	  

	Name:	 	Mark E. Schell
	Title:	 	Manager

 
			
	UNIT TEXAS DRILLING, L.L.C.
	 PRESTON COUNTY GAS GATHERING, L.L.C.

		
	 By:
	 	  

	 Name:
	 	 Mark E. Schell

	 Title:
	 	 Manager

		
	 By:
	 	  

	 Name:
	 	 Larry D. Pinkston

	 Title:
	 	 Manager

	
	 SUPERIOR PIPELINE COMPANY, L.L.C.

	 SUPERIOR PIPELINE TEXAS, L.L.C.

	 SUPERIOR APPALACHIAN PIPELINE, L.L.C.

		
	 By:
	 	  

	 Name:
	 	 Mark E. Schell

	 Title:
	 	 Manager

		
	 By:
	 	  

	 Name:
	 	 Larry D. Pinkston

	 Title:
	 	 Manager

		
	 By:
	 	  

	 Name:
	 	 Robert H. Parks

	 Title:
	 	 Manager

 Dated: January 7, 2013EXHIBIT 10.1

 

Agreement

 

This Agreement, this
"Agreement", is entered into effective as of November 30, 2015, the "Effective Date", by and among Live Ventures
Incorporated, a Nevada corporation, "Live", Isaac Capital Group, "ICG", Marquis Affiliated Holdings LLC, a
Delaware limited liability company, "Purchaser", Marquis Industries, Inc., a Georgia corporation, the "Company",
all of the Company's former stockholders, Timothy A. Bailey, a Georgia resident, "Bailey", Larry Heckman, a Georgia resident,
"Heckman", David Stokes, a Georgia resident, "Stokes", and Mark Rowland, a Georgia resident, "Rowland",
with Bailey, Heckman, Stokes, and Rowland, individually and interchangeably, a "Former Stockholder", and, in the aggregate,
the "Former Stockholders", and their respective heirs, successors, and permitted assigns.

 

Witnesseth:

 

Whereas, Live,
Purchaser, the Company and the Former Stockholders entered into a Stock Purchase Agreement dated July 6, 2015, the "SPA",
pursuant to which Purchaser purchased from the Former Stockholders all of the issued and outstanding shares of capital stock of
the Company on the terms set forth in the SPA;

 

Whereas, Purchaser
and the Former Stockholders desire to agree upon a binding and conclusive determination of (i) the post-Closing purchase price
adjustment payable under the SPA and (ii) any Cash distributable pursuant to the SPA;

 

Whereas, ICG
and the Former Stockholders entered into an Operating Agreement for Isaac Capital Fund I, LLC, a Georgia limited liability company,
"ICF", dated July 6, 2015, the "ICF Operating Agreement";

 

Whereas, ICG
and the Former Stockholders desire to set forth their agreements regarding certain additional Capital Contributions to be made
to ICF by the Former Stockholders and certain amendments to ICE Operating Agreement;

 

Whereas, the Former Stockholders
and Live are parties to that certain Operating Agreement of Purchaser, dated effective as of July 6, 2015, the "Purchaser
Operating Agreement";

 

    	 	1	 

     

    

 

Whereas,
the Former Stockholders collectively own a 20% Percentage Interest in Purchaser, with the respective individual Percentage Interests
of the Former Stockholders shown on Schedule A hereto, and Live owns an 80% Percentage Interest in Purchaser (as the term
"Percentage Interest" is defined in the Purchaser Operating Agreement); and

 

Whereas,
on the terms set forth in this Agreement, the Former Stockholders desire to sell, assign, transfer, and deliver to Live, and Live
desires to purchase from the Former Stockholders, all of the Member Interests (as defined in the Purchaser Operating Agreement)
of the Former Stockholders.

 

Now,
therefore, in consideration of the aforementioned premises and other good and valuable consideration, the receipt and sufficiency
of which are acknowledged, the parties have agreed and by the presents do agree as follows:

 

1.Capitalized Terms under the SPA.

 

Live, Purchaser, the Company
and the Former Stockholders hereby agree that all capitalized terms used but not defined in this Agreement shall have the respective
meanings ascribed to those capitalized terms in the SPA unless those terms refer to capitalized terms in the Purchaser Operating
Agreement or the ICF Operating Agreement.

 

2.Post-Closing Purchase Price Adjustment under
the SPA.

 

Live,
Purchaser, the Company and the Former Stockholders hereby agree that the amount of the post-Closing purchase price
adjustment owed by Purchaser to the Former Stockholders, in full and final satisfaction of all purchase price adjustments
contemplated by Section 2.05 of the SPA, is $310,661, which shall be paid by Purchaser to the Former Stockholders by an
increase of $310,661 in the principal indebtedness due under the Note (as defined in the ICF Operating Agreement), the
"ICF Note". ICG and the Former Stockholders hereby agree that each of the Former Stockholders shall be deemed to
have made an additional Capital Contribution (as defined in the ICF Operating Agreement) to ICF on the Effective Date in an
amount equal to such Former Stockholder's proportionate share, based upon each such Former Stockholder's Member Interest (as
defined in the ICF Operating Agreement), of $310,661 and the respective Capital Accounts (as defined in the ICF Operating
Agreement) of the Former Stockholders will be increased in corresponding amounts.

 

    	 	2	 

     

    

 

3.Waiver.

 

The Former Stockholders
hereby waive any and all claims that such party had, has or may ever have pursuant to Section 2.05 or Section 3.01 of the SPA,
excluding any claim arising under this Agreement.

 

4.Payment of Cash, Prepayment of the
ICF Note.

 

Subject to obtaining the
consent of Bank of America, the Company shall pay Cash in the amount of $846,247 to ICE as a prepayment of the ICF Note on or around
the Effective Date.

 

5.Distribution to the Former Stockholders.

 

Subject to obtaining the
consent of Bank of America, ICE shall distribute $846,247 to the Former Stockholders, proportionately based upon their respective
Member Interests (as defined in the ICF Operating Agreement), by wire transfer on or around the Effective Date pursuant to wire
transfer instructions as set forth in Exhibit A.

 

6.Purchase of the Former Stockholders'
Equity Interests in Purchaser.

 

For the Purchase Price
specified below in this Section 6, effective as of the Effective Date, each of the Former Stockholders hereby sells, assigns, transfers,
and delivers to Live all of such Former Stockholder's right, title and interest in and to his entire Member Interest, in the Percentage
Interest set forth opposite such Former Stockholder's name on Schedule A attached hereto, free and clear of all Encumbrances
(as defined below), and Live hereby accepts such sale, assignment and transfer of such Member Interests (the "Purchase Transaction").
The terms "Member Interest" and "Percentage Interest" as used in this Section 6 shall have the meanings ascribed
to them in the Purchaser Operating Agreement.

 

    	 	3	 

     

    

 

In consideration for the
sale of all of the Member Interests of the Former Stockholders (collectively, the "Purchased Interests"), Live shall
pay to the Former Stockholders, proportionately in accordance with their respective Percentage Interests shown on Schedule A
attached hereto, an aggregate purchase price equal to $2,000,000 (the "Purchase Price"), payable as follows: (i) $1,500,000
shall be paid on or around the Effective Date by wire transfer of immediately available funds pursuant to the wire transfer instructions
set forth in Exhibit B and (ii) $500,000 shall be paid pursuant to a promissory note by Live in favor of the Former Stockholders,
in the form attached as Exhibit C, the "Live Note", the receipt and sufficiency of which are hereby acknowledged.

 

To secure the Live Note,
Live has executed and delivered to the Former Stockholders an Equity Interests Pledge Agreement , in the form attached as Exhibit
D, with the endorsed in blank equity certificate representing all of the Purchased Interests, the receipt and sufficiency of
which are hereby acknowledged.

 

Each Former Stockholder
hereby represents and warrants to Live that: (i) such Former Stockholder is the owner of record and sole beneficial owner of his
entire Member Interest in the Percentage Interest shown on Schedule A attached hereto; (ii) such Former Stockholder owns
such Member Interest free and clear of all liens, security interests, encumbrances, pledges, charges, claims, and restrictions
on transfer (except restrictions on transfer as set forth in the Operating Agreement) of any nature whatsoever ("Encumbrances");
(iii) such Member Interest represents 100% of the Member Interest in the Company owned beneficially and of record by such Former
Stockholder; (iv) except as may be set forth in the Purchaser Operating Agreement, there are no voting trusts, member agreements,
proxies, or other agreements or understandings in effect with respect to the voting or transfer of such Member Interest to which
such Former Stockholder is a party or bound; (v) such Former Stockholder has not granted any rights or other interests in or to
such Member Interest to any person or entity whatsoever; (vi) such Former Stockholder has full capacity to execute and deliver
this Agreement and to consummate the Purchase Transaction; (vii) this Agreement has been duly and validly executed and delivered
by such Former Stockholder and constitutes a valid and binding obligation of him, enforceable against him in accordance with its
terms;

 

    	 	4	 

     

    

 

(viii) no filing with, and
no permit, authorization, consent, or approval of, any governmental authority or any other person or entity is required to be made
or obtained by such Former Stockholder for the execution and delivery of this Agreement or the consummation of the Purchase Transaction;
(ix) neither the execution and delivery of this Agreement by such Former Stockholder nor the consummation by him of the Purchase
Transaction nor compliance by him with any of the provisions hereof will result in a violation or breach of, or constitute (with
or without due notice or lapse of time or both) a default or give rise to any right of termination, cancellation, or acceleration
under, any indenture, license, contract, agreement, or other instrument or obligation to which he is a party or by which he or
any of his properties or assets may be bound, or violate any order, writ, injunction, decree, statute, rule, or regulation applicable
to him or to any of his properties or assets; and (x) such Former Stockholder has obtained the advice of independent counsel and
tax advisors of his choice in connection with this Agreement and the Purchase Transaction or has knowingly elected not to receive
such counsel or advice.

 

Effective as of the Effective
Date, other than in respect of any Claim (as defined below) arising out of or under this Agreement, each Former Stockholder, on
behalf of himself and his executors, administrators, beneficiaries, personal representatives, heirs, successors, and assigns, hereby
releases absolutely and forever, and irrevocably discharges, Purchaser, Live, and their respective officers, members, stockholders,
representatives, successors, and assigns (collectively, the "Purchaser/Live Released Parties"), of and from any and all
proceedings, claims, disputes, suits, disagreements, demands, damages, losses, accounts, debts, liabilities, judgments, agreements,
covenants, contracts, controversies, obligations, liens, actions and causes of action, and claims for relief of every kind and
nature whatsoever, whether at law or in equity, whether now known or unknown (the "Claims"), that such Former Stockholder
had, now has, or hereafter may have, against any of the Purchaser/Live Released Parties arising out of or under the Purchaser Operating
Agreement in respect of any act, omission, circumstance, or event that occurred on or prior to the Effective Date.

 

    	 	5	 

     

    

 

7.Amendment to ICF Operating Agreement.

 

Effective as of the Effective
Date, ICG and the Former Stockholders have executed the first amendment to the ICF Operating Agreement in the form attached as
Exhibit E.

 

8.Amendment to Purchaser Operating Agreement.

 

Effective as of the Effective
Date, Live and the Former Stockholders have executed the first amendment to the Purchaser Operating Agreement in the form attached
as Exhibit F.

 

9.Counterparts and Signatures.

 

This Agreement may be executed
in counterparts, each of which shall for all purposes be deemed an original, and all of such counterparts shall together constitute
one and the same agreement. This Agreement may be executed via signatures exchanged by facsimile or pdf, which signatures shall
be as valid as an original.

 

10.Expenses.

 

All the expenses of the
parties incurred in connection with this Agreement shall be borne by the Company.

 

11.Ratification of the Stock Purchase Agreement.

 

Live, Purchaser, the Company
and the Former Stockholders hereby ratify the provisions of the SPA, as herein amended or finally determined.

 

 

    	 	6	 

     

    

 

12.Entire Agreement.

 

This
Agreement, with the Exhibits hereto, the SPA, the ICF Operating Agreement as amended and the Purchaser Operating Agreement as amended
are the entire agreements among the parties hereto with the respect to the subject matter hereof and thereof and no representations
or promises not

 

Witness our hands and
seals at the date set forth above:

 

	 	Live:
	 	 
	 	Live Ventures Incorporated
	 	 
	 	By: /s/ Jon Isaac
	 	Jon Isaac, President and Chief Executive Officer
	 	[Corporate Seal]
	 	 
	 	Purchaser:
	 	 
	 	Marquis Affiliated Holdings LLC
	 	 
	 	By: /s/ Jon Issac
	 	Jon Isaac, President and Chief Executive Officer
	 	[Company Seal]
	 	 
	 	ICG:
	 	 
	 	Isaac Capital Group
	 	 
	 	By: /s/ Jon Issac
	 	Jon Isaac,
	 	[Corporate Seal]
	 	 
		The Company:
	 	 
	 	Marquis Industries, Inc.
	 	 
	 	By: /s/ Timothy A. Bailey
	 	Timothy A Bailey, President

 

    	 	7	 

     

    

 

 

	 	Former Stockholders:
	 	 
	 	/s/ Timothy A. Bailey (L.S.)
	 	Timothy A. Bailey
	 	 
	 	/s/ Larry Heckman (L.S.)
	 	Larry Heckman
	 	 
	 	/s/ David Stokes (L.S.)
	 	David Stokes
	 	 
	 	/s/ Mark Rowland (L.S.)
	 	Mark Rowland

 

 

    	 	8	 

     

    

 

 

 

Exhibit
A

 

Wire Instructions for Cash Distribution

 

(attached)

 

 

 

    	 	 	 

     

    

 

Exhibit A to the Master Agreement

 

 

 

	Timothy A. Bailey	 
	 	 
	Capital Contribution ($310,661 X 56.4875%):	$175,484.63           
	 	 
	Wire amount for partial redemption of Interest:	 
	($846,247 X 56.4875%):	$478,023.77           
	 	 
	Wiring Instructions:	 
	 	 
	Name of Account:	Rhonda Bailey and Timothy A. Bailey
	Receiving Bank:	Synovus Bank/Columbus Bank and Trust
	Address:	1148 Broadway, Columbus, GA 31901
	Bank ABA No.:	061100606
	Beneficiary Bank	Cohutta Bank
	Routing No.:	061107201
	Account No.:	1004270607
	Name of Account:	Rhonda Bailey and Timothy A. Bailey

 

 

 

 

	Larry Heckman	 
	 	 
	Capital Contribution ($310,661 X 24.4207%):	$ 75,865.59          
	 	 
	Wire amount for partial redemption of Interest:	 
	 	 
	($846,247 X 24.4207%):	$206,659.44          
	 	 
	Wiring Instructions:	 
	 	 
	Name of Account:	Larry and Kay Heckman
	Bank Name:	FSG Bank NA
	Address:	531 Broad Street
		Chattanooga, TN 37402
	For Credit:	Larry and Kay Heckman
	Bank ABA No.:	061308592
	Bank Account No.:	1000066736
	Bank Contact Person:	Heather A. Dixon
	 	(706) 428-2518

 

    	 	 	 

     

    

 

 

	David Lee Stokes	 
	 	 
	Capital Contribution ($310,661 X 13.1791%):	$ 40,942.32          
	 	 
	Wire amount for partial redemption of Interest:	 
	 	 
	($846,247 X 13.1791%):	$111,527.74          
	 	 
	Wiring Instruction:	 
	 	 
	Name of Account:	David Lee Stokes and Janice Lynn Stokes
	Bank Name:	Wells Fargo
	Bank Address:	315 Wall Street
	 	Calhoun, GA 30701
	ABA No.:	121000248
	Account No.:	6949200544
	Bank Contact:	Darlene Jones
	 	(706) 625-6704

 

 

 

 

	Mark Rowland	 
	 	 
	Capital Contribution ($310,661 X 5.9127%): 	$ 18,368.46          
	 	 
	Wire amount for partial redemption of Interest:	 
	 	 
	($846,247 X 5.9127%):	$ 50,036.05          
	 	 
	Wiring Instructions:	 
	 	 
	Name of Account:	Mark and Melissa Rowland
	Beneficiary Bank: 	Wells Fargo Bank, N.A.
	Bank Address:	420 Montgomery
	 	San Francisco, CA 94104
	ABA No.:  121000248	 
	Account No.: 	1100110327514
	Contact at Bank:	Ken Kincaid
	 	706-275-8209

 

    	 		 

     

    

 

Exhibit
B

 

Wire Instructions for Closing Payment

 

(attached)

 

 

 

    	 	 	 

     

    

 

Exhibit B to Master Agreement

 

	Timothy A. Bailey, Selling Stockholder
	 	 
	Wire amount: $847,312.50 (56.4875% X $1,500,000) 
	 	 
	Wiring Instructions:	 
	 	 
	Name of Account:	Rhonda Bailey and Timothy A. Bailey
	Receiving Bank:	Synovus Bank/Columbus Bank and Trust
	Address:	1148 Broadway, Columbus, GA 31901
	Bank ABA No.:	061100606
	Beneficiary Bank:	Cohutta Bank
	Routing No.:	061107201
	Account No.:	1004270607
	Name of Account:	Rhonda Bailey and Timothy A. Bailey

 

 

 

 

 

	Larry Heckman, Selling Stockholder
	 	 
	Wire Amount: $366,310.50 (24.4207% X $1,500,000)
	 	 
	Wiring Instructions:	 
	 	 
	Name of Account:	Larry and Kay Heckman
	Bank Name:	FSG Bank NA
	Address:	531 Broad Street
		Chattanooga, TN 37402
	For Credit:	Larry and Kay Heckman
	Bank ABA No.:	061308592
	Bank Account No.:	1000066736
	Bank Contact Person:	Heather A. Dixon
	 	(706) 428-2518

 

 

 

 

    	 		 

     

    

 

	 	 
	David Lee Stokes, Selling Stockholder
	 	 
	Wire amount: $197,686.50 (13.1791% X $1,500,000)
	 	 
	Wiring Instruction:	 
	 	 
	Name of Account:	David Lee Stokes and Janice Lynn Stokes
	Bank Name:	Wells Fargo
	Bank Address:	315 Wall Street, Calhoun, GA 30701
	ABA No.:	121000248
	Account No.:	6949200544
	Bank Contact:	Darlene Jones
	 	(706) 625-6704

 

 

 

 

 

	Mark Rowland, Selling Stockholder
	 	 
	Wire Amount: $88,690.50 (5.9127% X $1,500,000)
	 	 
	Wiring Instructions:	 
	 	 
	Name of Account:	Mark and Melissa Rowland
	Beneficiary Bank:	Wells Fargo Bank, N.A.
	Bank Address:	420 Montgomery
		San Francisco, CA 94104
	ABA No.:	121000248
	Account No.:	1100110327514
	Contact at Bank:	Ken Kincaid
	 	706-275-8209

 

 

    	 	 	 

     

    

 

Exhibit C

 

Form of Live Note

 

(attached)

 

 

 

 

 

 

 

    	 	 	 

     

    

 

Promissory Note

(Fixed Rate of Interest)

 

	U.S.$500,000.00	November 30, 2015

 

FOR VALUE RECEIVED,
Live Ventures Incorporated, a Nevada corporation ("Obligor"), promises to pay to the order of Timothy A. Bailey, Larry
Heckman, David Stokes, and Mark Rowland, Georgia residents (and hereinafter, together with any holder hereof, called "Holders"),
at 2743 G.I. Maddox Parkway, Chatsworth, GA 30705 (or at such other place as the Holders may designate in writing to Obligor)
and proportionately in accordance with the percentage interests set forth hi Schedule I hereto, the principal amount of
U.S. Five Hundred Thousand Dollars ($500,000.00). This Promissory Note (this "Note") is being delivered pursuant to
that certain Agreement, dated as of the date hereof, by and among Obligor, the Holders, and the other parties named therein, pursuant
to which, among other things, Obligor purchased all of the equity interests held by Holders in Marquis Affiliated Holdings LLC,
with a portion of the purchase price therefor being paid pursuant to this Note.

 

Obligor shall pay interest
(calculated on the basis of a year of three hundred sixty (360) days and the actual number of days elapsed) on the unpaid balance
of principal hereof from time to time outstanding, from the date hereof until the principal balance is paid hi full, at a fixed
rate of two percent (2.00%).

 

On February 1, 2016,
this Note shall mature and Obligor shall pay to Holders, proportionately in accordance with the percentage interests set forth
in Schedule I hereto and by wire transfer in immediately available funds to accounts designated by the Holders in writing,
the principal and accrued interest under this Note.

 

This Note may be prepaid at any time

 

Principal and interest
on this Note shall be payable and paid in lawful money of the United States of America.

 

Time is of the essence
of this Note and, in case this Note is collected by law or through an attorney at law, or under advice therefrom, Obligor agrees
to pay all costs of
collection, including reasonable out-of-pocket attorneys' fees and not statutory attorney's fees authorized by O.C. G.A. 13-1-11
if collected by or through an attorney.

 

 

    	 	1	 

     

    

 

In the event of a
default in any payment to the Holders, Holders may declare the entire balance due under this Note immediately due and payable.

 

This Note is secured
by an Equity Interests Pledge Agreement between Obligor and Holders of even date, and a default in that agreement shall be a default
under this Note.

 

The provisions of
this Note shall be construed and interpreted and all rights and obligations of the parties hereunder determined in accordance with
the laws of the State of Georgia.

 

IN WITNESS WHEREOF,
Obligor has caused this Note to be executed, sealed and delivered in Georgia, as of the day and year first above written.

 

 

	 	Obligor:
	 	 
	 	Live Ventures Incorporated
	 	 
	 	By:__________________ 
	 	Jon Isaac, President and Chief Executive Officer
	 	[Corporate Seal]

 

 

    	 	2	 

     

    

 

Schedule
I

 

 

	Name of Stockholder	Percentage Interest
	Timothy Bailey	56.4875%
	Larry Heckman	24.4207%
	David Stokes	13.1791%
	Mark Rowland	5.9127%

 

 

 

    	 	3	 

     

    

 

Exhibit
D

 

Form of Equity Interests Pledge Agreement

 

(attached)

 

 

 

 

 

 

    	 		 

     

    

 

EQUITY INTERESTS PLEDGE AGREEMENT

 

This Equity Interests
Pledge Agreement (hereinafter called "Agreement") is made effective as of November 30, 2015 (the "Effective Date"),
by and between Live Ventures Incorporated, a Nevada corporation, (hereinafter called "Pledgor"), and Timothy A. Bailey
("Bailey"), Larry Heckman, David Stokes, and Mark Rowland, Georgia residents (hereinafter, in the aggregate, "Pledgees"),
and their respective heirs, successors and assigns.

 

Witnesseth:

 

Whereas, pursuant to
that certain Agreement, dated as of the Effective Date (the "Master Agreement"), by and among Pledgor, Pledgees, and
the other parties named therein, Pledgor (i) purchased all of the equity interests held by Pledgees in Marquis Affiliated Holdings
LLC and (ii) executed and delivered that certain Promissory Note, dated as of the Effective Date (the "Note"), to the
Pledgees in the principal amount of Five Hundred Thousand Dollars ($500,000) for payment of a portion of the purchase price for
such equity interests; and

 

Whereas, the parties
desire to secure Pledgor's obligations under the Note to Pledgees pursuant to this Agreement;

 

Now, therefore, in
consideration of the mutual covenants and promises contained herein and other good and valuable consideration, the receipt and
sufficiency of which are acknowledged, the parties hereto have agreed and by these presents do agree as follows:

 

To secure Pledgor's
obligations to Pledgees under the Note, Pledgor hereby grants, and Pledgees hereby receive, a security interest in the equity interests
represented by the certificate identified on Exhibit A attached (the "Equity Interests"), in proportion to the
percentage interests set forth on Schedule I hereto, and with the execution of this Agreement, Pledgor has delivered the
original equity interest certificate representing the Equity Interests, with a blank power of endorsement in favor of Pledgees,
the receipt and sufficiency of which are herewith acknowledged, and Pledgees shall hold the certificate representing the Equity
Interests, which shall remain pledged to the Pledgees until Pledgor's obligations to Pledgees under the Note have been satisfied.

 

Subject to the accuracy
of the representations and warranties of the Pledgees set forth in the Master Agreement, Pledgor represents, wan-ants,
and covenants that its owns the Equity Interests, free and clear of any liens other thanthe liens set forth in this Agreement,
and has not granted, conveyed, transferred or hypothecated any rights in the Equity Interests to any other person.

 

    	 	1	 

     

    

 

The Pledgees agree
that, unless an event of default shall have occurred and be continuing, the Pledgor may (i) vote and give consents, ratifications
and waivers with respect to the Equity Interests and (ii) receive and retain all dividends and other distributions with respect
to the Equity Interests.

 

Upon the occurrence
and during the continuance of any event of default under the Note, Pledgees shall have all rights inuring to Pledgees under the
Uniform Commercial Code in effect in the State of Georgia.

 

An event of default shall mean a default
in the terms under the Note.

 

Expenses of retaking,
holding, selling or the like, due to an event of default, including Pledgees' reasonable out-of-pocket attorneys' fees and not
statutory attorney's fees authorized by O.C.G.A. 13-1-11, if collected by and through an attorney of law, shall be paid by Pledgor.

 

Pledgor hereby appoints
Bailey, as the representative of the Pledgees, as its attorney-in-fact, and this power, being coupled with an interest, is and
shall be irrevocable while Pledgor's obligations under the Note are outstanding. Upon the occurrence and during the continuance
of any event of default under the Note, Bailey, as the representative of the Pledgees and as Pledgor's attorney-in-fact, may, in
addition to all of the remedies afforded Pledgees under this Agreement or the Note, exercise any right of Pledgor in the Equity
Interests.

 

No waiver of any rights
or powers of Pledgees or consent by them shall be valid unless in writing signed by all of the Pledgees. The rights and powers
herein given to Pledgees are in addition to all other rights arising under the Note.

 

Upon the satisfaction
of Pledgor's obligations under the Note, Pledgees shall duly assign, transfer, and deliver the certificate representing the Equity
Interests to the Pledgor in the form received and, if requested by Pledgor, execute and deliver to Pledgor a proper instrument
or instruments acknowledging the satisfaction of the Note and termination of this Agreement.

 

This Agreement shall
be construed in accordance with and governed by the laws of the State of Georgia.

 

    	 	2	 

     

    

 

This Agreement, the Note, the Master Agreement and the contemporaneous deliveries described in the Master
Agreement are the entire agreement between the parties with respect to the subject matter hereof and thereof and no representations
not included herein or therein have been made or relied upon by any party in reaching this Agreement.

 

 

WITNESS our hands and seals the day and year first above written.

 

 

	 	PLEDGOR:
	 	 
	 	Live Ventures Incorporated
	 	 
	 	By:                           
	 	Jon Isaac, President and Chief Executive Officer
	 	[Corporate Seal]

 

	 	pPLEDGEES:
	 	 
	 	                                             (L.S.)
	 	Timothy A. Bailey
	 	 
	 	                                             (L.S.)
	 	Larry Heckman
	 	 
	 	                                             (L.S.)
	 	David Stokes
	 	 
	 	                                             (L.S.)
	 	Mark Rowland

 

 

    	 	3	 

     

    

 

Schedule I

 

	Pledgee	Percentage Interest
	Bailey	11.298%
	HecKMan	4.884%
	Stokes	2.636%
	Rowland	1.182%

 

 

 

 

 

 

 

    	 	4	 

     

    

 

Exhibit A 

 

Equity Interest Certificate

 

 

	Certificate	Member	Percentage Interest
	No. 6	Live Ventures Incorporated	20.000%

 

 

 

    	 	 	 

     

    

 

Exhibit
E

 

Amendment to ICF Operating Agreement

 

(attached)

 

 

 

 

    	 	 	 

     

    

 

 

Amendment to the Operating Agreement
of

Isaac Capital Fund 1, LLC

 

This Amendment to
the Operating Agreement of Isaac Capital Fund I, LLC, this "Amendment", is made effective as of November 30, 2015 (the
"Effective Date"), by and among the Isaac Capital Group (the "ICG Member"), Timothy A. Bailey, a Georgia resident
("Bailey"), Larry Heckman, a Georgia resident ("Heckman"), David Stokes, a Georgia resident ("Stokes"),
and Mark Rowland, a Georgia resident ("Rowland") (with Bailey, Heckman, Stokes, and Rowland, in the aggregate, the "Marquis
Members"), and Isaac Capital Fund I, LLC, a Georgia limited liability company (the "Company"), and their respective
heirs, successor and assigns.

 

Witnesseth:

 

Whereas, the
parties entered into an Operating Agreement dated July 6, 2015 (the "Operating Agreement") for the Company;

 

Whereas, Live and
the Marquis Members, among other parties, have entered into that certain Agreement, dated as of the Effective Date (the "Master
Agreement"), pursuant to which they have agreed, among other things, (i) upon a binding and conclusive determination of a
post-closing purchase price adjustment in an aggregate amount of $310,661 owed by Purchaser (as defined in the Master Agreement)
to the Marquis Members pursuant to the SPA (as defined in the Master Agreement) and (ii) that such purchase price adjustment amount
will be paid by a principal advance of $310,661 pursuant to the terms of the Note and funded with additional Capital Contributions
by the Marquis Members to the Company in an aggregate amount of $310,661; and

 

Whereas, the
parties desire to amend the Operating Agreement to accomplish their respective objectives;

 

Now, therefore,
in consideration of the aforementioned premises and other good and valuable consideration, the receipt and sufficiency of which
are acknowledged, the parties have agreed and by these presents do agree as follows:

 

1. Capitalized
Terms Under the Operating Agreement.

 

 

    	 	1	 

     

    

 

The parties hereby agree that all capitalized terms used in
this Amendment shall have the meanings ascribed to those capitalized terms in the Operating Agreement.

 

 2. Additional Capital Contribution by the Marquis Members.

 

Effective as of the Effective Date, the Marquis Members have
made additional Capital Contributions to the Company in the aggregate amount of $310,661, allocated among the Marquis Members as
set forth in Exhibit A.

 

 3. Increase in the Note.

 

Effective as of the Effective Date, the Company has lent an
additional $310,661 to the Borrowers pursuant to the terms of the Note.

 

 4. Deletion of Section 3.02 (Additional Capital Contributions) of the Operating Agreement.

 

Section 3.02 of the Operating Agreement is deleted in its entirety.

 

 5. Modification of Article 5 of the Operating Agreement.

 

Article 5 of the Operating Agreement is deleted in its entirety.
The definitions of Distributable Cash and Tax Distributions in the Operating Agreement are deleted in their entirety.

 

A new Article 5 is substituted in its entirety as follows:

 

"5.01 Distributions of Interest on the Restated Note.

 

Quarterly, the Company shall distribute the interest received
on the Note to the Members in proportion to their Percentage Interests.

 

5.02 Distributions of Principal on the Restated Note and
Redemption of Marquis Members' Interests.

 

As payments of principal are received on the Note by the Company,
the Company shall pay those principal payments to the Marquis Members as a partial redemption of their Interests allocated 2
proportionately among the Marquis Members according to their respective Percentage Interests until the Interests of the Marquis
Members have been fully redeemed before distributing any principal payments to the ICG Member."

 

 

    	 	2	 

     

    

 

The parties agree that the prepayment of
principal received on or around the Effective Date in connection with the execution of this Amendment in the amount of $846,247
shall be distributed to the Marquis Members pursuant to wire transfer instructions as set forth in Exhibit A.

 

6. Modification of Section 6.01 (Management
of the Company) of the Operating Agreement.

 

Section 6.01 of the Operating Agreement
is deleted in its entirety and a new Section 6.01 is substituted in its entirety as follows:

 

"6.01 Management of the Company.
Except for those matters for which the approval or consent of the Members is expressly required by this Agreement (including
Section 6.02) or by nonwaivable provisions of the Act, the business and affairs of the Company shall be managed, operated,
and controlled by a manager (the "Manager"). The initial Manager shall be Bailey. Any successor Manager shall
be appointed by a majority of the Marquis Members until they as a group no longer hold any Interests in the Company. The Manager
shall serve without compensation. The Manager shall have, and is hereby granted, the full and complete power, authority, and discretion
for, on behalf of, and in the name of the Company, to take such actions as he may in his sole discretion deem necessary or advisable
to carry out the purposes of the Company as set forth in Section 2.06, subject only to the terms of this Agreement (including
Section 6.02) and the Act. Except as required by the Act or other applicable law, and except as expressly set forth in this
Agreement (including Section 6.02), matters shall not be referred to the Members or require their vote thereon."

 

7. No Amendment
of Operating Agreement without Unanimous Member Approval.

 

No further amendment of the Operating Agreement
shall be effective unless adopted by all the Members.

 

    	 	3	 

     

    

 

8. Controlling Document.

 

In the event that there are inconsistencies between this Amendment
and the Operating Agreement, this Amendment shall control.

 

9. Counterparts and Signatures.

 

This Amendment may be executed in counterparts,
each of which shall for all purposes be deemed an original, and all of such counterparts shall together constitute one and the
same agreement. This Amendment may be executed via signatures exchanged by facsimile or pdf, which signatures shall be as valid
as originals.

 

10. Expenses.

 

All the expenses of the parties incurred
in connection with this Amendment shall be borne by Marquis Industries, Inc.

 

11. Ratification of Operating Agreement.

 

The parties hereby ratify the provisions
of the Operating Agreement as herein amended.

 

12. Entire Agreement.

 

This Amendment with the Exhibits hereto
and the Operating Agreement are the entire agreement between the parties with respect to the subject matter hereof and thereof
and no representations or promises not included herein or therein have been made or relied upon by any party to this Agreement.

 

    	 	4	 

     

    

 

IN WITNESS WHEREOF,
the undersigned have executed this Amendment effective as of the Effective Date.

 

 

	 	Isaac Capital Fund I, LLC
	 	 
	 	By:______________
	 	Name: Timothy A. Bailey
	 	Title: Manager
 [Company Seal]

         

         

	 	Isaac Capital Group
	 	 
	 	By:______________ 
	 	Name: Jon Isaac
	 	Title:_____ 
	 	[Corporate Seal]
	 	 
	 	 
	 	Marquis Members:
	 	 
	 	_______________(L.S.)
	 	Timothy A. Bailey
	 	 
	 	_______________(L.S.)
	 	Larry Heckman
	 	 
	 	_______________(L.S.)
	 	David Stokes
	 	 
	 	________________(L.S.)
	 	Mark Rowland

 

    	 	5	 

     

    

 

Exhibit A

 

Allocations of Additional Capital Contributions
and Wire Instructions

 

(attached)

 

 

 

 

 

 

 

 

 

 

    	 	 	 

     

    

 

Exhibit A to the Amendment to the ICE
Operating Agreement

 

 

 

	Timothy A. Bailey	 
	Capital Contribution ($310,661 X 56.4875%):	$175,484.63           
	 	 
	Wire amount for partial redemption of Interest:	 
	($846,247 X 56.4875%):	$478,023.77           
	 	 
	Wiring Instructions:	 
	 	 
	Name of Account:	Rhonda Bailey and Timothy A. Bailey
	Receiving Bank:	Synovus Bank/Columbus Bank and Trust
	Address:	1148 Broadway, Columbus, GA 31901
	Bank ABA No.:	061100606
	Beneficiary Bank:	Cohutta Bank
	Routing No.:	061107201
	Account No.:	1004270607
	Name of Account:	Rhonda Bailey and Timothy A. Bailey

 

 

 

 

 

	Larry Heckman	 
	 	 
	Capital Contribution ($310,661 X 24.4207%):	$ 75,865.59           
	 	 
	Wire amount for partial redemption of Interest:	 
	 	 
	($846,247 X 24.4207%):	$206,659.44          
	 	 
	Wiring Instructions:	 
	 	 
	Name of Account:	Larry and Kay Heckman
	Bank Name:	FSG Bank NA
	Address:	531 Broad Street
	 	Chattanooga, TN 37402
	For Credit:	Larry and Kay Heckman
	Bank ABA No.:	061308592
	Bank Account No.:	1000066736
	Bank Contact Person:	Heather A. Dixon
	 	(706) 428-2518

 

 

    	 	 	 

     

    

 

 

 

	David Lee Stokes	 
	 	 
	Capital Contribution ($310,661 X 13.1791%):	 $ 40,942.32          
	 	 
	Wire amount for partial redemption of Interest:	 
	 	 
	($846,247 X 13.1791%):	$111,527.74          
	 	 
	Wiring Instruction:	 
	 	 
	Name of Account: 	David Lee Stokes and Janice Lynn Stokes
	Bank Name: 	Wells Fargo
	Bank Address: 	315 Wall Street
	 	Calhoun, GA 30701
	ABA No.: 	121000248
	Account No.: 	6949200544
	Bank Contact:	Darlene Jones
	 	(706) 625-6704

 

 

 

 

	Mark Rowland	 
	 	 
	Capital Contribution ($310,661 X 5.9127%):	 $ 18,368.46          
	 	 
	Wire amount for partial redemption of Interest:	 
	 	 
	($846,247 X 5.9127%):	$ 50,036.05          
	 	 
	Wiring Instructions:	 
	 	 
	Name of Account: 	Mark and Melissa Rowland 
	Beneficiary Bank: 	Wells Fargo Bank, N.A.
	Bank Address:	420 Montgomery
	 	San Francisco, CA 94104
	ABA No.: 	121000248
	Account No.: 	1100110327514
	Contact at Bank: 	Ken Kincaid
	 	706-275-8209

 

 

    	 	 	 

     

    

 

Exhibit F

 

Amendment to Purchaser Operating Agreement

 

(attached)

 

 

 

 

 

 

 

    	 	 	 

     

    

 

AMENDMENT TO THE OPERATING AGREEMENT
OF

MARQUIS AFFILIATED HOLDINGS LLC

 

This Amendment to
the Operating Agreement (this "Amendment") of Marquis Affiliated Holdings LLC, a Delaware limited liability company
(the "Company"), shall be effective at 12:01 a.m., Eastern Standard Time, on November 30, 2015 (the "Effective
Date"), by and among the Company, Live Ventures Incorporated, a Nevada corporation (the "Live Member"), Timothy
A. Bailey, a Georgia resident ("Bailey"), Larry Heckman, a Georgia resident ("Heckman"), David
Stokes, a Georgia resident ("Stokes"), and Mark Rowland, a Georgia resident ("Rowland") (with
Bailey, Heckman, Stokes, and Rowland, in the aggregate, the "Marquis Members"), and their respective heirs, successors
and assigns.

 

Whereas, the
parties executed an Operating Agreement for the Company effective on July 6, 2015 (the "Operating Agreement"); and

 

Whereas, by
contemporaneous agreement executed and delivered by the parties effective as of the Effective Date, the Live Member has purchased
all of the Interests held by the Marquis Members for a purchase price of Two Million Dollars ($2,000,000), with One Million Five
Hundred Thousand Dollars ($1,500,000) paid in cash and the balance financed pursuant to a Promissory Note, dated effective as of
the Effective Date (the "Note"), by the Live Member in favor of the Marquis Members and secured by the Equity
Interest Pledge Agreement, dated effective as of the Effective Date (the "Equity Interest Pledge Agreement"), by the
Live Member in favor of the Marquis Members; and

 

Whereas, the
parties desire to amend the Operating Agreement to accomplish their respective objectives;

 

Now, therefore,
in consideration of the aforementioned premises and other good and valuable consideration, the receipt and sufficiency of which
are acknowledged, the parties have agreed and by these presents do agree as follows:

 

1. Capitalized
Terms Under the Operating Agreement.

 

 

    	 	1	 

     

    

 

The parties hereby agree that all capitalized terms used but
not defined in this Amendment shall have the meanings ascribed to those capitalized terms in the Operating Agreement.

 

2.New Definitions.

 

Article 1 of the Operating Agreement is hereby amended to add
the following new defined terms:

 

"Equity Interest Certificates" means the certificates,
in the form approved by the Board, representing the Percentage Interests of the Initial Members as set forth in Schedule A
to the Operating Agreement.

 

"Note" means that certain Promissory Note, dated November
30, 2015, in the original principal amount of $500,000, payable by the Live Member to the Marquis Members.

 

The parties acknowledge that the Equity
Interest Certificates have been duly executed and delivered to the Initial Members, the receipt and sufficiency of which are acknowledged.

 

3.Modification of Section 6.01(b) (Board Composition).

 

The opening sentence of Section 6.01(b) of the Operating Agreement
is stricken in its entirety and a new opening sentence is substituted as follows:

 

"Section 6.01(b) Board Composition.
For so long as the Marquis Members own their Interests or the Note is unpaid, the Board shall consist of three directors, comprised
as follows:"

 

4.Modification to Section 9.02(c).

 

A new sentence shall be added to the end of Section 9.02(c)
of the Operating Agreement to read as follows:

 

"While the Note remains unpaid, Equity Interest Certificate
No. 6 in the name of the Live Member and representing all of the Interests purchased by the Live Member from the Marquis Members,
constituting 20% of all of the Percentage Interests in the Company, has been pledged to the Marquis Members pursuant to the terms
of an Equity Interest Pledge Agreement."

 

    	 	2	 

     

    

 

5.Controlling Document.

 

In the event that there are inconsistencies
between this Amendment and the Operating Agreement, this Amendment shall control.

 

6.Counterparts and Signatures.

 

This Amendment may be executed in counterparts,
each of which shall for all purposes be deemed an original, and all of such counterparts shall

 

together constitute one and the same agreement.
The Agreement may be executed via signatures exchanged by facsimile or pdf, which signatures shall be as valid as originals.

 

7. Expenses.

 

All the expenses of the parties incurred
in connection with this Amendment shall be borne by Marquis Industries, Inc.

 

8. Ratification of Operating Agreement.

 

The parties have ratified the provisions
of the Operating Agreement as herein amended.

 

9.Entire Agreement.

 

This Amendment and the Operating Agreement
are the entire agreement between the parties with respect to the subject matter hereof and thereof and no representations or promises
not included herein or therein have been made or relied upon by any party to this Amendment.

 

IN WITNESS WHEREOF,
the undersigned have executed this Amendment effective as of the Effective Date.

 

    	 	3	 

     

    

 

 

	 	The Company:
	 	 
	 	Marquis Affiliated Holdings LLC
	 	 
	 	By:______________
	 	Name: Jon Isaac
	 	Title: Chief Executive Officer

        [Company Seal]

	 	 
	 	Live Member:
	 	 
	 	Live Ventures Incorporated
	 	 
	 	By:______________ 
	 	Name: Jon Isaac
	 	Title: Chief Executive Officer
	 	[Corporate Seal]
	 	 
	 	 
	 	Marquis Members:
	 	 
	 	_______________(L.S.)
	 	Timothy A. Bailey
	 	 
	 	_______________(L.S.)
	 	Larry Heckman
	 	 
	 	_______________(L.S.)
	 	David Stokes
	 	 
	 	________________(L.S.)
	 	Mark Rowland

 

    	 	4	 

     

    

Schedule A to Amendment to MAH Operating
Agreement

 

Equity Interest Certificate No. 1

 

Marquis Affiliated Holdings, LLC

 

A Delaware Limited Liability Company

 

This Equity Interest
Certificate No. 1 certifies that Live Ventures Incorporated, a Nevada corporation, has contributed Four Million Eight Hundred Thousand
Dollars ($4,800,000) to the initial capital of the Company and is the owner of an eighty percent (80%) Percentage Interest in the
Company, which is fully paid and non-assessable.

 

The Interests represented
by this Equity Interest Certificate No. 1 are not freely transferrable and only may be transferred hi accordance with the terms
of the Operating Agreement for the Company, dated as of July 6, 2015 (the "Operating Agreement"), among the Company and
its Members, the terms of which are incorporated herein by reference. A copy of the Operating Agreement may be inspected at the
principal offices of the Company. Capitalized terms used but not defined herein have the meanings given to them in the Operating
Agreement.

 

Effective as of the 6th day of July, 2015.

 

 

 

	 	________________
		Jon Isaac, Chief Executive Officer 
	 	[Corporate Seal]

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