Document:

Form of Registration Rights Agreement

 Exhibit 10.10 
 REGISTRATION RIGHTS AGREEMENT 
 This Registration Rights Agreement (the
“Agreement”) is made and entered into as of [—], 2011, by and among Chesapeake Granite Wash Trust, a statutory trust formed under the laws of the State of
Delaware (the “Trust”), Chesapeake Energy Corporation (“Chesapeake”), an Oklahoma corporation and Chesapeake Exploration, L.L.C., an Oklahoma limited liability company and indirect wholly owned subsidiary of
Chesapeake (“Chesapeake Exploration”). 
 WHEREAS, in connection with the initial public offering of common
units of beneficial interests of the Trust, the Trust has agreed to file a registration statement or registration statements relating to the sales by Chesapeake, Chesapeake Exploration, and their respective Transferees of certain of the Trust Units
(as each capitalized term is defined below). 
 NOW, THEREFORE, in consideration of the premises and the covenants hereinafter
contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, it is agreed as follows: 

ARTICLE I 

DEFINITIONS; CONSTRUCTION 
 Section 1.1 Definitions. As used in this Agreement, the following terms shall have the following meanings: 
 “Affiliate” means with respect to a specified Person, any Person that directly or indirectly controls, is controlled by, or is under common control with, the specified Person. As used in
this definition, the term “control” (and the correlative terms “controlling,” “controlled by” and “under common control”) shall mean the possession, directly or indirectly, of the right or power to direct or
cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 
 “Agreement” has the meaning set forth in the introductory paragraph hereof. 
 “Business Day” means any day that is not a Saturday, Sunday, a holiday determined by the New York Stock Exchange LLC, as “affecting ‘ex’ dates” or any other day on
which national banking institutions in New York, New York are closed as authorized or required by law or executive order. 

“Chesapeake” has the meaning set forth in the introductory paragraph of this Agreement. 

“Chesapeake Exploration” has the meaning set forth in the introductory paragraph of this Agreement. 

“Common Units” has the meaning set forth in the Trust Agreement. 

“Deferral Notice” has the meaning set forth in Section 3.1(j)(ii) hereof. 

“Deferral Period” has the meaning set forth in Section 3.1(j) hereof. 

 “Demand Notice” has the meaning set forth in Section 2.1(a) hereof.

 “Demand Registration” has the meaning set forth in Section 2.1(a) hereof. 

“Demanding Qualified Holder(s)” shall mean, with respect to any Demand Registration, the Qualified Holder(s) delivering
the relevant Demand Notice. 
 “Effective Period” means the period commencing on the 180th day after the date
hereof and ending on the date that all Registrable Securities have ceased to be Registrable Securities. 
 “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated by the SEC thereunder. 
 “Expenses” has the meaning set forth in Section 5.1 hereof. 

“FINRA” means the Financial Industry Regulatory Authority, Inc. 

“Indemnified Party” has the meaning set forth in Section 5.4 hereof. 

“Indemnifying Party” has the meaning set forth in Section 5.4 hereof. 

“Material Event” has the meaning set forth in Section 3.1(j) hereof. 

“Notice” has the meaning set forth in Section 2.1(d) hereof. 

“Person” shall mean any individual, partnership, limited liability company, corporation, trust, unincorporated
association, governmental body or other entity, organization or association. 
 “Prospectus” means the
prospectus included in any Registration Statement (including a prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A, Rule 430B or
Rule 430C promulgated under the Securities Act), as amended or supplemented by any amendment, prospectus supplement or free writing prospectus (as defined in Rule 405 promulgated under the Securities Act), including post-effective
amendments, and all materials incorporated by reference or explicitly deemed to be incorporated by reference in such Prospectus. 
 “Qualified Holder” shall mean Chesapeake, Chesapeake Exploration and any Transferee of Chesapeake or Chesapeake Exploration, to whom Registrable Securities are permitted to be transferred
in accordance with the terms of this Agreement and, in each case, who continues to be entitled to the rights of a Qualified Holder hereunder. 
 “Registrable Securities” means the Trust Units held by the Qualified Holders and any securities into or for which such Trust Units have been converted or exchanged, and any security
issued with respect thereto upon any dividend, split or similar event until, in the case of any such Trust Units or other security, the earliest of (i) its effective registration under the Securities Act and resale in accordance with the
Registration Statement covering it, (ii) its disposal pursuant to Rule 144 (or any similar provision then in force, but not Rule 144A) under the Securities Act, (iii) its sale in a private transaction in which the transferor’s
rights under this Agreement are not 

  
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assigned to the transferee of the securities, (iv) its being held by the Trust, (v) 10 years after a Qualified Holder of such security ceases to be an Affiliate of the Trust,
(vi) if such security has been sold in a private transaction in which the transferor’s rights under this Agreement are assigned to the transferee and such transferee is not an Affiliate of the Trust, the date that is one year following the
date of the transfer of such security to such transferee or (vii) such time when such Trust Units or other security may be freely transferred without restriction, including volume limitations, manner of sale restrictions or any other
restrictions, under Rule 144 (or any similar provision then in force). 
 “Registration Statement” means any
registration statement of the Trust, including any Shelf Registration Statement, that covers any of the Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus, amendments and supplements to such registration
statement, including post-effective amendments, all exhibits and all materials incorporated by reference or deemed to be incorporated by reference in such registration statement. 

“Required Information” has the meaning set forth in Section 4.1 hereof. 

“Rule 144” means Rule 144 under the Securities Act, as such rule may be amended from time to time, or any similar rule
or regulation hereafter adopted by the SEC. 
 “Rule 144A” means Rule 144A under the Securities Act, as such
rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC. 
 “SEC”
means the U.S. Securities and Exchange Commission. 
 “Securities Act” means the Securities Act of 1933, as
amended, and the rules and regulations promulgated by the SEC thereunder. 
 “Shelf Registration Statement”
means a Registration Statement for an offering to be made on a delayed or continuous basis pursuant to Rule 415 under the Securities Act (as such rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the
SEC) registering the resale of Registrable Securities from time to time by any Qualified Holder. 
 “Special
Counsel” means Bracewell & Giuliani LLP or such other successor counsel as shall be specified in writing by Qualified Holders holding a majority of all Registrable Securities. 

“Subordinated Units” has the meaning set forth in the Trust Agreement. 

“Transferee” means any Person or group of Persons that purchases any Registrable Securities from Chesapeake or
Chesapeake Exploration or otherwise holds any Registrable Securities as a result of any transfer, sale, liquidation, dividend or distribution by Chesapeake, Chesapeake Exploration or any of their respective Affiliates; provided, that such
Person or group (i) agrees to be designated as a transferee hereunder, (ii) is specifically designated as a transferee hereunder in writing by Chesapeake or Chesapeake Exploration to the Trust, (iii) holds Registrable Securities
representing at least 100,000 of the then-outstanding Registrable Securities and (iv) in the case of a group, such group shall collectively agree to constitute a 

  
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single transferee for purposes of this Agreement (including for purposes of exercising any Demand Registration right transferred to such group hereunder). 

“Trust” has the meaning set forth in the introductory paragraph hereof. 

“Trust Agreement” means that certain Amended and Restated Trust Agreement of the Trust, dated as of the date hereof.

 “Trust Units” means Common Units and Subordinated Units. 

“Trustee” means The Bank of New York Mellon Trust Company, N.A., a national banking association organized under the laws
of the United States of America with its principal place of business in New York, New York, in its capacity as trustee, or any successor trustee of the Trust, and in each case solely in its capacity as trustee and not in its individual capacity.

 Section 1.2 Construction. Unless the context requires otherwise: (i) any pronoun used in this Agreement shall
include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa; (ii) references to Articles and Sections refer to Articles and Sections of this
Agreement; (iii) the terms “include,” “includes,” “including” or words of like import shall be deemed to be followed by the words “without limitation;” and (iv) the terms “hereof,”
“herein” or “hereunder” refer to this Agreement as a whole and not to any particular provision of this Agreement. The headings contained in this Agreement are for reference purposes only, and shall not affect in any way the
meaning or interpretation of this Agreement. 
 ARTICLE II 

DEMAND REGISTRATION RIGHTS 
 Section 2.1 Demand Registration Rights. 
 (a) During the Effective Period,
one or more Qualified Holders holding in the aggregate a majority of the then outstanding Registrable Securities shall have the right, by delivering a written notice to the Trust (the “Demand Notice”), to require the Trust to use
its reasonable best efforts to register, pursuant to the terms and conditions set forth in this Agreement and in accordance with the provisions of the Securities Act, the number of Registrable Securities requested to be so registered (a
“Demand Registration”). All Demand Notices made pursuant to this Section 2.1 must specify the number of Registrable Securities to be registered, whether or not such Registration Statement should be a Shelf Registration
Statement and the intended methods of disposition thereof. 
 (b) The Qualified Holders shall be entitled to up to five Demand
Registrations in the aggregate. Notwithstanding any other provision of this Article II, in no event shall more than one Demand Registration occur during any six-month period (measured from the effective date of the Registration Statement to the date
of the next Demand Notice). 
 (c) No Demand Registration shall be deemed to have occurred for purposes of this Article II if
the Registration Statement relating thereto does not become effective, or its effectiveness is not maintained, for the period required pursuant to Section 2.1(e), in which case 

  
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the Demanding Qualified Holders shall be entitled to reinstatement of such Demand Registration. 
 (d) Within ten (10) days after receipt by the Trust of a Demand Notice, the Trust shall give written notice (the “Notice”) of such Demand Notice to all other Qualified Holders and
shall, subject to the provisions of Section 2.1(f) hereof, include in such registration all Registrable Securities held by such Qualified Holders with respect to which the Trust received written requests for inclusion therein within ten
(10) days after such Notice is given by the Trust to such holders. 
 (e) The Trust shall use reasonable best efforts to
maintain the effectiveness of the Registration Statement with respect to any Demand Registration for a period of at least ninety (90) days (or three (3) years if a Shelf Registration Statement is requested) after the effective date thereof
or such shorter period in which all Registrable Securities included in such Registration Statement have been sold or all Registrable Securities have ceased to be Registrable Securities; provided, that such period shall be extended for a
period of time equal to the period the holders of Registrable Securities refrain from selling any securities included in such registration at the request of (i) the managing underwriter of the offering, if any, or (ii) the Trust pursuant
to this Agreement. 
 (f) If any of the Registrable Securities registered pursuant to a Demand Registration are to be sold in a
firm commitment underwritten offering, and the managing underwriter or underwriters advise the holders of such securities in writing that in its view the total number or dollar amount of securities proposed to be sold in such offering (including
securities proposed to be sold by Persons other than Demanding Qualified Holders pursuant to incidental or piggyback registration rights) is such as to adversely affect the success of such offering, then the number or dollar amount of securities to
be offered for the account of Demanding Qualified Holders and for the account of Persons other than Demanding Qualified Holders shall be reduced to the extent necessary to reduce the total number or dollar amount of securities to be included in such
offering to the number or dollar amount recommended by such managing underwriter or underwriters by: 
 (i)
first, reducing, or eliminating if necessary, all securities requested to be included by Persons other than Demanding Qualified Holders; and 
 (ii) second, if necessary, reducing the Registrable Securities requested to be included by the Demanding Qualified Holders, pro rata among such Demanding Qualified Holders on the basis of the percentage
of the total Registrable Securities requested to be included in such Registration Statement by each such holder. 
 In
connection with any Demand Registration to which the provisions of this Section 2.1(f) apply, no securities other than Registrable Securities shall be covered by such Demand Registration except in accordance with this Section 2.1(f), and
such registration shall not reduce the number of Demand Registrations available to the Qualified Holders under Section 2.1(b) if the Registration Statement excludes more than 25% of the aggregate number of Registrable Securities that the
Demanding Qualified Holders requested be included. 

  
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 (g) The Trust shall be entitled to postpone (but not more than once in any 12-month period),
for a reasonable period of time not in excess of 90 days, the filing of a Registration Statement if the Trust delivers to the Demanding Qualified Holders a certificate signed by the Trustee certifying that, in its good faith judgment, it would
be detrimental to the Trust and its unitholders for such Registration Statement to be filed and it is therefore beneficial to defer the filing of such Registration Statement. If the Trust shall so postpone the filing of a Registration Statement, the
Demanding Qualified Holders shall have the right to withdraw the request for registration by giving written notice to the Trust within 20 days of the anticipated termination date of the postponement period, as provided in the certificate
delivered by the Trust, and in the event of such withdrawal, such request shall not reduce the number of available registrations with respect to the Qualified Holders under this Article II. 

(h) Whenever the Trust shall effect a Demand Registration pursuant to this Article II in connection with an underwritten offering, no
securities other than Registrable Securities shall be covered by such registration, unless (i) the managing underwriter or underwriters of such offering shall have advised each holder of Registrable Securities requesting such registration in
writing that it believes that the inclusion of such other securities would not adversely affect such offering or (ii) the inclusion of such other securities is approved by the affirmative vote of the holders of at least a majority of the
Registrable Securities included in such Demand Registration by the Demanding Qualified Holders. 
 Section 2.2 Underwritten
Registrations. Qualified Holders of Registrable Securities covered by any Registration Statement may sell such Registrable Securities to an underwriter in an underwritten offering for reoffering to the public. If any of the Registrable
Securities covered by any Registration Statement are to be sold in an underwritten offering, the underwriters that will administer the offering will be selected by the Qualified Holders holding a majority of such Registrable Securities included in
such offering, subject to the consent of the Trust (which shall not be unreasonably withheld or delayed), and such Qualified Holders shall be responsible for all underwriting commissions and discounts and any transfer taxes in connection therewith.
No Person may participate in any underwritten registration hereunder unless such Person (i) agrees to sell such Person’s Registrable Securities on the basis reasonably provided in any underwriting arrangements approved by the Persons
entitled hereunder to approve such arrangements and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements, diligence materials and other documents reasonably required under the terms of such
underwriting arrangements. 
 ARTICLE III 
 REGISTRATION PROCEDURES 
 Section 3.1 Registration Procedures.
Following receipt of a Demand Notice, the Trust shall: 
 (a) Use reasonable best efforts to (i) prepare and file with the
SEC, no later than 45 days after receiving the Demand Notice, a Registration Statement or Registration Statements, including, if so requested by the Qualified Holders, a Shelf Registration Statement, on any appropriate form under the Securities Act
available for the sale of the Registrable Securities by the Qualified Holders thereof in accordance with the intended method or methods 

  
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of distribution thereof, and (ii) cause each such Registration Statement to become effective as promptly as practicable after filing and remain effective for the period of time provided in
Section 2.1(e); provided, that before filing any Registration Statement or Prospectus or any amendments or supplements thereto with the SEC (but excluding reports filed with the SEC under the Exchange Act), the Trust shall furnish to the
Qualified Holders, the Special Counsel and the managing underwriter or underwriters, if any, copies of any such document at least three (3) Business Days prior to the filing thereof. 

(b) Subject to Section 3.1(j), (i) use reasonable best efforts to prepare and file with the SEC such amendments and
post-effective amendments to each Registration Statement as may be necessary to keep such Registration Statement continuously effective during the period provided herein with respect to the disposition of all securities covered by such Registration
Statement; (ii) cause the related Prospectus to be supplemented by any required prospectus supplement or free writing prospectus, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) under the
Securities Act; and (iii) use reasonable best efforts to comply with the provisions of the Securities Act applicable to the Trust with respect to the disposition of all securities covered by such Registration Statement during the period
provided herein with respect to the disposition of all securities covered by such Registration Statement in accordance with the intended methods of disposition by the sellers thereof set forth in such Registration Statement as so amended or such
Prospectus as so supplemented. 
 (c) Subject to Section 3.1(j), as promptly as practicable after the date a Registration
Statement is declared effective and the Required Information is delivered pursuant to Section 4.1 hereof and in accordance with this Section 3.1(c): 
 (i) if required by applicable law, use reasonable best efforts to file with the SEC a post-effective amendment to the Registration Statement, a supplement to the related Prospectus, a supplement or
amendment to any document incorporated therein by reference and/or any other document required to be filed so that the Qualified Holder delivering such Required Information is named as a selling securityholder in the Registration Statement and the
related Prospectus in such a manner as to permit such Qualified Holder to deliver such Prospectus to purchasers of the Registrable Securities in accordance with applicable law and, if the Trust shall file a post-effective amendment to the
Registration Statement, use reasonable best efforts to cause such post-effective amendment to be declared effective under the Securities Act as promptly as practicable; and 

(ii) provide such Qualified Holder copies of any documents filed pursuant to Section 3.1(c)(i) and notify such
Qualified Holder as promptly as practicable after the effectiveness under the Securities Act of any post-effective amendment filed pursuant to Section 3.1(c)(i); provided, that if the Required Information is delivered during a Deferral
Period, the Trust shall so inform the Qualified Holder delivering such Required Information. Notwithstanding anything contained herein to the contrary, the Trust shall be under no obligation to name any Qualified Holder that has failed to deliver
the Required Information in the manner set forth in Article IV hereof as a selling securityholder in any Registration Statement or related Prospectus. 

  
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 (d) As promptly as practicable, give notice to the Qualified Holders, the Special Counsel
and the managing underwriter or underwriters, if any, (i) when any Prospectus, Registration Statement or post-effective amendment to a Registration Statement has been filed with the SEC and, with respect to a Registration Statement or any
post-effective amendment thereto, when the same has been declared effective, (ii) of any request, following the effectiveness of any Registration Statement under the Securities Act, by the SEC or any other federal or state governmental
authority for amendments or supplements to any Registration Statement or related Prospectus, (iii) of the issuance by the SEC or any other federal or state governmental authority of any stop order suspending the effectiveness of any
Registration Statement or the initiation or threatening of any proceedings for that purpose, (iv) of the receipt by the Trust of any notification with respect to the suspension of the qualification or exemption from qualification of any of the
Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose, (v) of the occurrence of, but not the nature of or details concerning, a Material Event (as defined below) and (vi) of
the determination by the Trust that a post-effective amendment to a Registration Statement will be filed with the SEC, which notice may, at the discretion of the Trust (or as required pursuant to Section 3.1(j)), state that it constitutes a
Deferral Notice, in which event the provisions of Section 3.1(j) shall apply. 
 (e) Use reasonable best efforts to obtain
the withdrawal of any order suspending the effectiveness of a Registration Statement or the lifting of any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction in which
they have been qualified for sale, in either case as promptly as practicable, and provide prompt notice to each Qualified Holder of the withdrawal of any such order. 
 (f) If requested by the managing underwriters, if any, or the Qualified Holders of the Registrable Securities being sold in connection with an underwritten offering, promptly include in a prospectus
supplement or post-effective amendment such information as the managing underwriters, if any, or such Qualified Holders may reasonably request in order to permit the intended method of distribution of such securities and make all required filings of
such prospectus supplement or such post-effective amendment as soon as practicable after the Trustee has received such request; provided that the Trust shall not be required to take any actions under this Section 3.1(f) that are not, in
the opinion of counsel for the Trustee, in compliance with applicable law. 
 (g) As promptly as practicable, furnish to each
Qualified Holder, the Special Counsel and each managing underwriter, if any, upon request, at least one (1) conformed copy of the Registration Statement and any amendment thereto, including exhibits and, if requested, all documents incorporated
or deemed to be incorporated therein by reference. 
 (h) Deliver to each Qualified Holder, the Special Counsel and each
managing underwriter, if any, in connection with any sale of Registrable Securities pursuant to a Registration Statement as many copies of the Prospectus relating to such Registrable Securities (including each preliminary Prospectus) and any
amendment or supplement thereto as such Persons may reasonably request. In addition, the Trust hereby consents (except during such periods that a Deferral Notice is outstanding and has not been revoked and subject to Section 3.1(j)(ii) hereof)
to the use of such Prospectus or each such amendment or supplement 

  
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thereto by each Qualified Holder and the underwriters, if any, in connection with any offering and sale of the Registrable Securities covered by such Prospectus or any amendment or supplement
thereto in the manner set forth therein. 
 (i) Use reasonable best efforts to (i) prior to any public offering of the
Registrable Securities pursuant to a Registration Statement, register or qualify or cooperate with the Qualified Holders, the Special Counsel and the underwriters, if any, in connection with the registration or qualification (or exemption from such
registration or qualification) of such Registrable Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any Qualified Holder or underwriter reasonably requests in writing (which
request may be included with the Required Information) and (ii) keep each such registration or qualification (or exemption therefrom) effective during the period provided herein with respect to the disposition of all securities covered by such
Registration Statement in connection with such Qualified Holder’s offer and sale of Registrable Securities pursuant to such registration or qualification (or exemption therefrom) and do any and all other acts or things reasonably necessary or
advisable to enable the disposition in such jurisdictions of such Registrable Securities in the manner set forth in the relevant Registration Statement and the related Prospectus; provided, that neither the Trust nor the Trustee shall be
required to (i) qualify as a foreign entity or as a dealer in securities in any jurisdiction where it would not otherwise be required to qualify but for this Agreement or (ii) take any action that would subject it to general service of
process or to taxation in any such jurisdiction where it is not then so subject. 
 (j) Upon (A) the issuance by the SEC of
a stop order suspending the effectiveness of any Registration Statement or the initiation of proceedings with respect to any Registration Statement under Section 8(d) or 8(e) of the Securities Act, (B) the occurrence of any event or the
existence of any fact as a result of which (x) any Registration Statement shall contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not
misleading or (y) any Prospectus shall contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading (each of subclauses (x) and (y) hereof, a “Material Event”), or (C) the occurrence or existence of any pending development of the Trust that, in the reasonable discretion of the Trustee, makes it
appropriate to suspend the availability of any Registration Statement and the related Prospectus: 
 (i) in the
case of clause (B) above, subject to clause (ii) below, as promptly as practicable prepare and file, if necessary pursuant to applicable law, a post-effective amendment to such Registration Statement, a supplement to the related
Prospectus, a supplement or amendment to any document incorporated in the Prospectus by reference and/or any other document required to be filed so that such Registration Statement does not contain any untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the statements therein not misleading, and such Prospectus does not contain any untrue statement of a material fact or omit to state any material fact required to be stated
therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, as thereafter delivered to the purchasers of the Registrable Securities being sold thereunder, and, in the
case of a post-effective amendment to a 

  
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Registration Statement, subject to clause (ii) below, use reasonable best efforts to cause it to be declared effective as promptly as practicable; 

(ii) give notice to the Qualified Holders and the Special Counsel, if any, that the availability of any Registration
Statement is suspended (a “Deferral Notice”) and, upon receipt of any Deferral Notice, each Qualified Holder agrees not to sell any Registrable Securities pursuant to the Registration Statement until such Qualified Holder’s
receipt of copies of the supplemented or amended Prospectus provided for in clause (i) above, or until it is advised in writing by the Trustee that the Prospectus may be used, and has received copies of any additional or supplemental filings
that are incorporated or deemed incorporated by reference in such Prospectus, in which case such Qualified Holder will use the Prospectus as so supplemented or amended in connection with any offering and sale of Registrable Securities covered
thereby; and 
 (iii) use reasonable best efforts to ensure that the use of the Prospectus may be resumed
(x) in the case of clause (A) above, as promptly as is practicable, (y) in the case of clause (B) above, as soon as, in the sole judgment of the Trust, public disclosure of such Material Event would not be prejudicial to or
contrary to the interests of the Trust or, if necessary to avoid unreasonable burden or expense, as soon as practicable thereafter, and (z) in the case of clause (C) above, as soon as, in the reasonable discretion of the Trustee, such
suspension is no longer appropriate. 
 The time period from the date the Trust sends the Deferral Notice to the date the
Registration Statement and relevant Prospectus are no longer unavailable to make sales of the securities is known as the “Deferral Period.” 
 (k) If reasonably requested by a Qualified Holder or any underwriter participating in any disposition of Registrable Securities, if any, in writing in connection with a disposition by such Qualified
Holder of Registrable Securities pursuant to a Registration Statement, make reasonably available for inspection during normal business hours by representatives of such Qualified Holders of such Registrable Securities (including any broker-dealers,
underwriters, attorneys and accountants retained by such Qualified Holders, and any attorneys or other agents retained by a broker-dealer or underwriter engaged by such Qualified Holders), all relevant financial and other records and pertinent
documents and properties of the Trust, and cause the appropriate officers, directors, employees and agents of the Trustee to make reasonably available for inspection during normal business hours on reasonable notice all relevant information
reasonably requested by such representatives in each case as is customary for similar “due diligence” examinations; provided, that (i) the Trustee shall not be obligated to make available for inspection any information that,
based on the reasonable advice of counsel to the Trustee, could subject the Trustee to the loss of privilege with respect thereto and (ii) such Persons shall first agree in writing with the Trustee that any information that is reasonably
designated by the Trustee as confidential at the time of delivery of such information shall be kept confidential by such Persons and shall be used solely for the purposes of exercising rights under this Agreement, unless (a) disclosure of such
information is required by court or administrative order or is necessary to respond to inquiries of regulatory authorities, (b) disclosure of such information is required by law (including any disclosure requirements pursuant to federal
securities laws in connection with the filing of any Registration Statement or the use of any 

  
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Prospectus referred to in this Agreement) or (c) such information becomes generally available to the public other than as a result of a disclosure or failure to safeguard by any such Person;
and provided, further, that the foregoing inspection and information gathering shall, to the greatest extent possible, be coordinated on behalf of all the Qualified Holders and the other parties entitled thereto by Special Counsel, if any, or
another representative selected by the Qualified Holders holding a majority of Registrable Securities being registered pursuant to such Registration Statement. Any Person legally compelled or required by administrative or court order or by a
regulatory authority to disclose any such confidential information made available for inspection shall provide the Trustee with prompt prior written notice of such requirement so that the Trustee may seek a protective order or other appropriate
remedy. 
 (l) Use its reasonable best efforts to comply with all applicable rules and regulations of the SEC and make generally
available to the Trust’s unitholders earnings statements (which need not be audited) satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act)
for a 12-month period commencing on the first day of the first fiscal quarter of the Trust commencing after the effective date of a Registration Statement, which statements shall be made available no later than the next succeeding Business Day after
such statements are required to be filed with the SEC. 
 (m) Cooperate with each Qualified Holder and the managing
underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities sold or to be sold pursuant to a Registration Statement, which certificates shall not bear any restrictive legends stating
that the Registrable Securities evidenced by the certificates are “restricted securities” (as defined by Rule 144), and cause such Registrable Securities to be registered in such names as such Qualified Holder or the managing
underwriters, if any, may request in writing at least two (2) Business Days prior to any sale of such Registrable Securities. 
 (n) Provide a CUSIP number for all Registrable Securities covered by each Registration Statement not later than the effective date of such Registration Statement. 

(o) Cooperate with and assist each Qualified Holder, the Special Counsel and any underwriters participating in any disposition of
Registrable Securities in any filings required to be made with, or reviews to be conducted by, FINRA in connection with the filing or effectiveness of any Registration Statement, any post-effective amendment thereto or any offer or sale of Trust
Units thereunder. 
 (p) In the case of a proposed sale pursuant to a Registration Statement involving an underwritten offering,
enter into such customary agreements (including, if requested, an underwriting agreement in reasonably customary form containing standard representations, warranties, covenants and indemnities of the Trust similar to those representations and
warranties, covenants and indemnities given by issuers of securities in underwritten offerings of securities) and take all such other action, if any, as Qualified Holders holding a majority of the Registrable Securities being sold or any managing
underwriters reasonably shall request in order to facilitate any disposition of the Registrable Securities pursuant to such Registration Statement, including using reasonable best efforts to cause (i) its counsel to deliver an opinion or
opinions in reasonably customary form and (ii) its independent 

  
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public accountants and independent reserve engineers to provide a comfort letters in reasonably customary form. 
 (q) Use reasonable best efforts to support the marketing of the Registrable Securities covered by the Registration Statement. 
 (r) Upon either (i) the filing of any Registration Statement or (ii) the effectiveness of any Registration Statement, announce the same, in each case by press release disseminated by means of a
widely used wire service or similar method. 
 (s) Use reasonable best efforts to cause all Registrable Securities covered by a
Demand Registration to be listed on each securities exchange on which similar securities issued by the Trust are listed or traded. 
 Section 3.2 Sales of Registrable Securities Pursuant to Rule 144 or Rule 144A. The Trust covenants that, if at any time before the end of the Effective Period the Trust is not subject to the
reporting requirements of the Exchange Act, it will cooperate with any Qualified Holder and, at such Qualified Holder’s expense, take such further reasonable action as any Qualified Holder may reasonably request in writing (including making
such reasonable representations as any such Qualified Holder may reasonably request), to enable such Qualified Holder to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by
Rule 144 or Rule 144A under the Securities Act and customarily taken in connection with sales pursuant to such exemptions. Upon the written request of any Qualified Holder, the Trust shall deliver to such Qualified Holder a written
statement as to whether the Trust has complied with such filing requirements. Notwithstanding the foregoing, nothing in this Section 3.2 shall be deemed to require the Trust to register any of the Trust’s securities under any section of
the Exchange Act. 
 ARTICLE IV 
 OBLIGATIONS OF QUALIFIED HOLDERS 
 Section 4.1 Sale of Securities;
Required Information. Each Qualified Holder agrees that if such Qualified Holder wishes to sell Registrable Securities pursuant to a Registration Statement and related Prospectus, it will do so only in accordance with this Agreement. The Trustee
may require each Qualified Holder selling Registrable Securities as to which any registration is being effected to furnish to the Trust in writing such information required in connection with such registration regarding such seller and the
distribution of such Registrable Securities as the Trustee may, from time to time, reasonably request in writing (the “Required Information”) and the Trust may exclude from such registration the Registrable Securities of any seller
who fails to furnish such information within a reasonable time after receiving such request. In addition, following the date that a Registration Statement is declared effective, each Qualified Holder wishing to sell Registrable Securities pursuant
to a Registration Statement and related Prospectus agrees to deliver, promptly upon written request by the Trustee, and in any event at least seven (7) Business Days prior to any intended distribution of Registrable Securities, any additional
information (which additional information shall be deemed part of the Required Information) the Trustee may reasonably request to complete or amend the information required by any Registration Statement. 

  
 -12-

 Section 4.2 Accuracy and Sufficiency of Information. Each Qualified Holder agrees, by
acquisition of the Registrable Securities, that no Qualified Holder shall be entitled to sell any of such Registrable Securities pursuant to a Registration Statement or to receive a Prospectus relating thereto unless such Qualified Holder has
furnished the Trust with (i) the Required Information, (ii) any information required to be disclosed in order to make the information previously furnished to the Trust by such Qualified Holder not misleading and (iii) any other
information regarding such Qualified Holder and the distribution of such Registrable Securities as the Trustee may from time to time reasonably request. The sale of any Registrable Securities by any Qualified Holder shall constitute a representation
and warranty by such Qualified Holder that the information relating to such Qualified Holder and its plan of distribution is as set forth in the Prospectus delivered by such Qualified Holder in connection with such disposition, that such Prospectus
does not as of the time of such sale contain any untrue statement of a material fact relating to or provided by such Qualified Holder or its plan of distribution and that such Prospectus does not as of the time of such sale omit to state any
material fact relating to or provided by such Qualified Holder or its plan of distribution necessary in order to make the statements in such Prospectus, in the light of the circumstances under which they were made, not misleading. 

Section 4.3 Registration Expenses. Each Qualified Holder shall bear (i) all of the underwriting discounts and commissions
relating to the offering of such Qualified Holder’s Registrable Securities and (ii) its pro rata share (based on the number of Registrable Securities sold) of all out-of-pocket fees and expenses incurred by the Trust and the Trustee in
connection with the performance of the Trust’s obligations under Articles II and III of this Agreement whether or not any Registration Statement is declared effective. Such fees and expenses shall include, without limitation, (i) all
registration and filing fees (including fees and expenses (x) with respect to filings required to be made with FINRA and (y) of compliance with federal and state securities or Blue Sky laws (including reasonable fees and disbursements of
the Special Counsel, if any, in connection with Blue Sky qualifications of the Registrable Securities under the laws of such jurisdictions as Qualified Holders holding a majority of the Registrable Securities being sold pursuant to a Registration
Statement may designate)), (ii) printing expenses (including expenses of printing certificates for Registrable Securities in a form eligible for deposit with The Depository Trust Company), (iii) duplication expenses relating to copies of
any Registration Statement or Prospectus delivered to any Qualified Holders hereunder, (iv) fees and disbursements of counsel for the Trust and the Trustee and the Special Counsel, if any, in connection with any Registration Statement,
(v) fees of accountants and reserve engineers for consents and comfort letters and (vi) fees and expenses incurred in connection with the listing by the Trust of the Registrable Securities on any securities exchange on which similar
securities of the Trust are then listed; provided, however, the Trust shall pay the internal expenses of the Trust and the Trustee (including all salaries and expenses of officers, employees and agents performing legal or accounting duties),
the expense of any annual audit and annual reserve report and the other fees and expenses of the accountants and independent reserve engineers for the Trust not covered by clause (v) of the preceding sentence, other than any expense that would
not have otherwise been incurred but for the fact of the filing of the Registration Statement or the timing thereof, the fees and expenses of any Person, including special experts, retained by the Trust or the Trustee and the fees and expenses of
any transfer agent for the Registrable Securities. Notwithstanding the provisions of this Section 4.3, each seller of Registrable Securities shall pay 

  
 -13-

 
its own selling expenses, including any underwriting discount and commissions, all registration expenses to the extent required by applicable law and, except as otherwise provided herein, fees
and expenses of counsel. 
 ARTICLE V 
 INDEMNIFICATION AND CONTRIBUTION 
 Section 5.1 Indemnification by the
Trust. The Trust shall indemnify and hold harmless Chesapeake, Chesapeake Exploration, each Qualified Holder and each Person, if any, who controls Chesapeake, Chesapeake Exploration or any Qualified Holder within the meaning of either
Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including any reasonable legal or other expenses reasonably incurred in connection with defending or
investigating any such action or claim) (“Expenses”) to which Chesapeake, Chesapeake Exploration, any Qualified Holder or any controlling Person of Chesapeake, Chesapeake Exploration or any Qualified Holder may become subject, under
or with respect to the Securities Act, the Exchange Act, any other federal or state securities law or otherwise, insofar as such Expenses are caused by any untrue statement or alleged untrue statement of a material fact contained in any Registration
Statement at the date and time as of which such Registration Statement was declared effective by the SEC, any preliminary Prospectus or the Prospectus, or caused by any omission or alleged omission to state therein a material fact required to be
stated therein or necessary in order to make the statements therein (in the case of a preliminary Prospectus or Prospectus, in the light of the circumstances under which they were made), not misleading, but in each case only with respect to written
information relating to the Trust in its individual capacity furnished by or on behalf of the Trust expressly for inclusion in the documents referred to in the foregoing indemnity. Subject to Section 5.5 of this Agreement, the Trust shall
reimburse Chesapeake, Chesapeake Exploration, the Qualified Holders and any controlling Persons thereof for any legal or other expenses reasonably incurred by Chesapeake, the Qualified Holders or any controlling Persons thereof in connection with
the investigation or defense of any Expenses with respect to which Chesapeake, Chesapeake Exploration and the Qualified Holders or any controlling Persons thereof are entitled to indemnity by the Trust under this Agreement. The Trustee shall have no
indemnification obligations under this Agreement. 
 Section 5.2 Indemnification by Chesapeake. Chesapeake shall
indemnify and hold harmless each Qualified Holder (other than Chesapeake and Chesapeake Exploration), the Trust and the Trustee and any agents thereof, individually and as trustee, as the case may be, and each Person, if any, who controls such
Qualified Holder, the Trust or the Trustee within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any Expenses (excluding, however, any taxes, fees and other charges payable by the
Trust on, based on or measured by any fees, commissions or compensation received by the Trust for its services under this Agreement) to which such Qualified Holder, the Trust, the Trustee or any agent thereof or any controlling Person of such
Qualified Holder, the Trust or the Trustee may become subject, under or with respect to the Securities Act, the Exchange Act, any other federal or state securities law or otherwise, insofar as such Expenses are caused by (i) an untrue statement
or alleged untrue statement of a material fact contained in any Registration Statement or an omission or alleged omission to state a material fact required to be stated in or necessary to make the statements therein not misleading at the date and
time as of which such Registration 

  
 -14-

 
Statement was declared effective by the SEC, (ii) an untrue statement or alleged untrue statement of a material fact contained in any preliminary Prospectus or any Prospectus or an omission
or alleged omission to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading as of the date of such preliminary Prospectus or Prospectus and as of the
closing of the sale of Trust Units sold thereunder or (iii) any untrue statement or alleged untrue statement of a material fact contained in any other filing, report or other action taken with respect to the Securities Act, the Exchange Act or
any other federal or state securities law, the listing of the Trust Units on the New York Stock Exchange or another national securities exchange or any omission or alleged omission to state a material fact required to be stated therein or necessary
to make the statements therein not misleading; provided that Chesapeake shall not be liable to and shall not indemnify the Qualified Holders, the Trust, the Trustee or any agents or controlling Persons thereof, individually or as trustee, as
the case may be, in any such case under the preceding clauses (i) and (ii) of this Section 5.2 to the extent that any such Expense arises out of, is based upon or is connected with information relating to (a) the Trust in its
individual capacity or (b) such Qualified Holder, in either case furnished by the Trust or such Qualified Holder, as the case may be, expressly for use in any Registration Statement, any preliminary Prospectus or any Prospectus; and
provided, further, that Chesapeake shall not be liable to the Qualified Holders, the Trust or any agents or controlling Persons thereof, individually or as trustee, as the case may be, in any such case under the preceding clause (iii) of
this Section 5.2 to the extent that any such Expense arises out of, is based upon or is connected with information relating to (a) the Trust in its individual capacity furnished by the Trust or (b) such Qualified Holder furnished by
such Qualified Holder. Subject to Section 5.5 of this Agreement, Chesapeake shall reimburse the Qualified Holders (other than Chesapeake and Chesapeake Exploration), the Trust and the Trustee and any agents or controlling Persons thereof for
any legal or other expenses reasonably incurred by the Qualified Holders (other than Chesapeake and Chesapeake Exploration), the Trust and the Trustee or any agent or controlling Persons thereof in connection with the investigation or defense of any
Expenses with respect to which the Qualified Holders (other than Chesapeake and Chesapeake Exploration), the Trust and the Trustee or any agent or controlling Persons thereof is entitled to indemnity by Chesapeake under this Agreement. 

Section 5.3 Indemnification by Certain of the Qualified Holders. Each Qualified Holder (other than Chesapeake and Chesapeake
Exploration), severally and not jointly, shall indemnify and hold harmless Chesapeake, Chesapeake Exploration, the Trust, the Trustee and any agents thereof, individually and as trustee, and any other Qualified Holder and each Person, if any, who
controls Chesapeake, Chesapeake Exploration, the Trust, the Trustee and any agents thereof, individually and as trustee, or any other Qualified Holder within the meaning of either Section 15 of the Securities Act or Section 20 of the
Exchange Act, from and against any and all Expenses to which Chesapeake, Chesapeake Exploration, the Trust, the Trustee and any agents thereof, individually and as trustee, any other Qualified Holder or any controlling Person of Chesapeake,
Chesapeake Exploration, the Trust, the Trustee and any agents thereof, individually and as trustee, or any other Qualified Holder may become subject, under or with respect to the Securities Act, the Exchange Act, any other federal or state
securities law or otherwise, insofar as such Expenses are caused by any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement at the date and time as of which such Registration Statement was declared
effective by the SEC, any preliminary Prospectus or the Prospectus, or 

  
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caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein (in the case of a preliminary
Prospectus or Prospectus, in light of the circumstances under which they were made), not misleading, but in each case only with respect to written information relating to such Qualified Holder (other than Chesapeake and Chesapeake Exploration)
furnished by or on behalf of such Qualified Holder expressly for inclusion in the documents referred to in the foregoing indemnity. Subject to Section 5.5 of this Agreement, such Qualified Holder shall reimburse Chesapeake, Chesapeake
Exploration, the Trust, the Trustee and any agents thereof, individually and as trustee, the other Qualified Holders and any agents or controlling Persons thereof for any legal or other expenses reasonably incurred by Chesapeake, Chesapeake
Exploration, the Trust, the Trustee and any agents thereof, individually and as trustee, the other Qualified Holders or any agent or controlling Persons thereof in connection with the investigation or defense of any Expenses with respect to which
Chesapeake, Chesapeake Exploration, the Trust, the Trustee and any agents thereof, individually and as trustee, and the other Qualified Holders or any agent or controlling Persons thereof is entitled to indemnity by such Qualified Holder under this
Agreement. 
 Section 5.4 Conduct of Indemnification Proceedings. In case any proceeding (including any governmental
investigation) shall be instituted involving any Person in respect of which indemnity may be sought pursuant to Sections 5.1, 5.2 or 5.3 hereof, such Person (the “Indemnified Party”) shall promptly notify the Person against whom
such indemnity may be sought (the “Indemnifying Party”) in writing and the Indemnifying Party, upon request of the Indemnified Party, shall retain counsel reasonably satisfactory to the Indemnified Party to represent the Indemnified
Party and any others the Indemnifying Party may designate in such proceeding and shall pay the reasonable fees and disbursements of such counsel related to such proceeding. In any such proceeding, any Indemnified Party shall have the right to retain
its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless (i) the Indemnifying Party and the Indemnified Party shall have mutually agreed to the retention of such counsel or
(ii) the named parties to any such proceeding (including any impleaded parties) include both the Indemnifying Party and the Indemnified Party and representation of both parties by the same counsel would be inappropriate due to actual or
potential differing interests between them, other than solely by virtue of the rights and obligations of the Indemnifying Party and the Indemnified Party under this Article V. It is understood that the Indemnifying Party shall not, in respect of the
legal expenses of any Indemnified Party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all such indemnified
parties and that all such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by, in the case of parties indemnified pursuant to Section 5.1, the Qualified Holders holding a majority of the
Registrable Securities covered by the Registration Statement held by Qualified Holders that are indemnified parties pursuant to Section 5.1 and, in the case of parties indemnified pursuant to Section 5.2 or Section 5.3, the Trust. The
Indemnifying Party shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final, non-appealable judgment for the plaintiff, the Indemnifying Party agrees to
indemnify the Indemnified Party from and against any Expenses by reason of such settlement or judgment. No Indemnifying Party shall, without the prior written consent of the Indemnified 

  
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Party, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such
Indemnified Party, unless such settlement includes an unconditional release of such Indemnified Party from all liability on claims that are the subject matter of such proceeding. 

Section 5.5 Contribution. To the extent that the indemnification provided for in Sections 5.1, 5.2 or 5.3 is unavailable to an
Indemnified Party or insufficient in respect of any Expenses referred to therein, then each Indemnifying Party under such paragraph, in lieu of indemnifying such Indemnified Party thereunder, shall contribute to the amount paid or payable by such
Indemnified Party as a result of such Expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Indemnifying Party or Indemnifying Parties on the one hand and the Indemnified Party or Indemnified Parties
on the other hand or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the
relative fault of the Indemnifying Party or Indemnifying Parties on the one hand and of the Indemnified Party or Indemnified Parties on the other hand in connection with the statements or omissions that resulted in such Expenses, as well as any
other relevant equitable considerations. The relative fault of Chesapeake and the other Qualified Holders on the one hand and the Trust on the other hand shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact required to be stated or necessary in order to make the statements (in the case of a preliminary Prospectus or Prospectus, in light of the circumstances under
which they were made) not misleading, relates to information supplied by Chesapeake, the other Qualified Holders or by the Trust, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such
statement or omission. The Qualified Holders’ respective obligations to contribute pursuant to this Section 5.5 are several in proportion to the respective number of Registrable Securities they have sold pursuant to a Registration
Statement, and not joint. 
 The parties hereto agree that it would not be just and equitable if contribution pursuant to this
Section 5.5 were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph. The amount paid or payable by an
Indemnified Party as a result of the Expenses referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such Indemnified Party in
connection with investigating or defending any such action or claim. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not
guilty of such fraudulent misrepresentation. 
 Section 5.6 Remedies not Exclusive. The remedies provided for in this
Article V are not exclusive and shall not limit any rights or remedies which may otherwise be available to an Indemnified Party at law or in equity, hereunder or otherwise. 
 Section 5.7 Survival. The indemnity and contribution provisions contained in this Article V shall remain operative and in full force and effect regardless of (i) any termination of this
Agreement, (ii) any investigation made by or on behalf of any Qualified Holder, any Person controlling Chesapeake or any other Qualified Holder or any Affiliate of Chesapeake or any 

  
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other Qualified Holder or by or on behalf of the Trust or the Trustee, or their respective officers, employees or agents or any Person controlling the Trust or the Trustee and (iii) the sale
of any Registrable Securities by any Qualified Holder. 
 ARTICLE VI 

MISCELLANEOUS 
 Section 6.1 Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures
from the provisions hereof may not be given, without the written consent of the Trust, Chesapeake and Qualified Holders holding a majority of Registrable Securities. Notwithstanding the foregoing, a waiver or consent to depart from the provisions
hereof with respect to a matter that relates exclusively to the rights of Qualified Holders whose securities are being sold pursuant to a Registration Statement and that does not directly or indirectly affect the rights of other Qualified Holders
may be given by Qualified Holders of at least a majority of the Registrable Securities being sold by such Qualified Holders pursuant to such Registration Statement; provided, that the provisions of this sentence may not be amended, modified
or supplemented except in accordance with the provisions of the immediately preceding sentence. Notwithstanding the foregoing, this Agreement may be amended by written agreement signed by the Trust, without the consent of the Qualified Holders of
Registrable Securities, to cure any ambiguity or to correct or supplement any provision contained herein that may be defective or inconsistent with any other provision contained herein, or to make such other provisions in regard to matters or
questions arising under this Agreement that shall not adversely affect the interests of the Qualified Holders of Registrable Securities. Each Qualified Holder of Registrable Securities outstanding at the time of any such amendment, modification,
supplement, waiver or consent or thereafter shall be bound by any such amendment, modification, supplement, waiver or consent effected pursuant to this Section 6.1, whether or not any notice, writing or marking indicating such amendment,
modification, supplement, waiver or consent appears on the Registrable Securities or is delivered to such Qualified Holder. 

Section 6.2 Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand
delivery, by facsimile, by courier guaranteeing overnight delivery or by first-class mail, return receipt requested, and shall be deemed given (i) when made, if made by hand delivery, (ii) upon confirmation, if made by facsimile,
(iii) one (1) Business Day after being deposited with such courier, if made by overnight courier or (iv) on the date indicated on the notice of receipt, if made by first-class mail, to the parties as follows: 

if to a Qualified Holder other than Chesapeake or Chesapeake Exploration, at the most current address of such Qualified Holder on file
with the Trust; 

  
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 if to the Trust or the Trustee, to: 

Chesapeake Granite Wash Trust 
 c/o The Bank of New York Mellon Trust Company, N.A. 
 Institutional Trust Services

 919 Congress Avenue, Suite 500 
 Austin, Texas 78701 
 Attention: Michael J. Ulrich 

Facsimile No.: (512) 479-2253 
 With a copy to: 
 Andrews Kurth LLP 

600 Travis 

Suite 4200 

Houston, Texas 77002 
 Attention: W. Lance Schuler 
 Facsimile No.: (713) 238-7193 

if to Chesapeake or Chesapeake Exploration, to: 
 Chesapeake Energy Corporation 
 6100 North Western Avenue 

Oklahoma City, OK 73118 
 Attention: Jennifer M. Grigsby 
 Facsimile No.: (405) 849-9225 

with a copy to: 

Bracewell & Giuliani LLP 
 711 Louisiana Street, Suite 2300 
 Houston, Texas 77002 

Attention: Michael S. Telle 
 Facsimile No.: (713) 221-2113 
 or to such other address as such Person may have furnished to
the other Persons identified in this Section 6.2 in writing in accordance herewith. 
 Section 6.3 Approval of Qualified
Holders. Whenever the consent or approval of Qualified Holders of a specified percentage of Registrable Securities is required hereunder, Registrable Securities held by Affiliates (as such term is defined in Rule 405 under the Securities
Act) of the Trust (other than Chesapeake, Chesapeake Exploration or other Qualified Holders if such Qualified Holders are deemed to be Affiliates of the Trust solely by reason of their holding of such Registrable Securities) shall not be counted in
determining whether such consent or approval was given by the Qualified Holders of such required percentage. 

  
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 Section 6.4 Successors and Assigns. This Agreement shall be binding upon and shall
inure to the benefit of the parties hereto and their respective successors and permitted assigns (including Transferees); provided, that nothing herein shall be deemed to permit any assignment, transfer or other disposition of Registrable
Securities in violation of the terms hereof. The Registrable Securities acquired by Transferees shall be held subject to all of the terms of this Agreement, and by taking and holding such Registrable Securities, each such Transferee shall be
conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of this Agreement and such Person shall be entitled to receive the benefits hereof. 

Section 6.5 No Third-Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their respective
successors and permitted assigns (including Transferees) and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever, under or by reason of
this Agreement. 
 Section 6.6 Counterparts. This Agreement may be executed in any number of counterparts and by the
parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

Section 6.7 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 Section 6.8 Severability. If any term, provision, covenant or restriction of this Agreement is held to be invalid,
illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, and the parties hereto shall
use their reasonable best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction, it being intended that all of the rights and
privileges of the parties shall be enforceable to the fullest extent permitted by law. 
 Section 6.9 Entire Agreement.
This Agreement is intended by the parties as a final expression of their agreement and is intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the registration rights granted by the
Trust with respect to the Registrable Securities. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein, with respect to the registration rights granted by the Trust with respect to the
Registrable Securities. This Agreement supersedes all prior agreements and undertakings among the parties with respect to such registration rights. 
 Section 6.10 Termination. This Agreement and the obligations of the parties hereunder shall terminate upon the end of the Effective Period, except for any liabilities or obligations under
Sections 4, 5 or 6 hereof, each of which shall remain in effect in accordance with its terms. 

  
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 Section 6.11 Specific Enforcement; Venue. The parties hereto acknowledge and agree
that each would be irreparably damaged if any of the provisions of this Agreement are not performed by the other in accordance with their specific terms or are otherwise breached. It is accordingly agreed that each party shall be entitled to seek an
injunction or injunctions to prevent breaches of this Agreement by the other and to enforce this Agreement and the terms and provisions hereof specifically against the other, in addition to any other remedy to which such aggrieved party may be
entitled at law or in equity. Any action or proceeding seeking to enforce any provision of, or based on any rights arising out of, this Agreement may be brought against any of the parties in the federal and Oklahoma state courts sitting in Oklahoma
City, Oklahoma, and each of the parties consents to the jurisdiction of such courts (and of the appropriate appellate courts) in any such action or proceeding and waives any objection to venue laid therein. Process in any action or proceeding
referred to in the preceding sentence may be served on any party anywhere in the world. 
 Section 6.12 Limitation of
Liability. It is expressly understood and agreed by the parties hereto that (a) this Agreement is executed and delivered by the Trustee not individually or personally, but solely as Trustee in the exercise of the powers and authority
conferred and vested in it and (b) under no circumstances shall the Trustee be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trust under this Agreement. 

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

			
	CHESAPEAKE GRANITE WASH TRUST
		
	By:	 	The Bank of New York Mellon Trust Company, N.A., as Trustee
		
	By:	 	  

	Name:	 	Michael J. Ulrich
	Title:	 	Vice President
	
	CHESAPEAKE ENERGY CORPORATION
		
	By:	 	  

	Name:	 	Jennifer M. Grigsby
	Title:	 	Senior Vice President, Treasurer and Corporate Secretary
	
	CHESAPEAKE EXPLORATION, L.L.C.
		
	By:	 	  

	Name:	 	Jennifer M. Grigsby
	Title:	 	Senior Vice President, Treasurer and Corporate Secretary

 Signature page to Registration Rights AgreementForm of Floating Rate Global Notes due September 19, 2014

 Exhibit 4.1 
 THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN
WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE. 
 UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME 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. 

 HEWLETT-PACKARD COMPANY 

Floating Rate Global Notes due September 19, 2014 
  

	 No. R-FL2014-[    ] 
	$             

 CUSIP No. 428236 BS1 
 Hewlett-Packard Company, a corporation duly
organized and existing under the laws of Delaware (herein called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or
registered assigns, the principal sum of             Dollars ($            ) or such other amount indicated on the Schedule of
Exchange of Global Notes attached hereto on September 19, 2014 (if such date is not a Business Day, payment of principal, premium, if any, and interest for the Securities will be paid on the next Business Day; provided, however, that no interest on
that payment will accrue from and after September 19, 2014), and to pay interest thereon from September 19, 2011 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, quarterly on March 19, June 19,
September 19 and December 19 of each year (each an “Interest Payment Date”), commencing December 19, 2011 as described on the reverse of this Security, until the principal hereof is paid or made available for payment. The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on
the Regular Record Date for such interest, which shall be the Business Day preceding the Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record
Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee,
notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on
which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 
 So long as all of the Securities of this series are represented by Global Securities, the principal of, premium, if any, and interest, if any, on this Global Security shall be paid in same day funds to
the Depositary, or to such name or entity as is requested by an authorized representative of the Depositary. If at any time the Securities of this series are no longer represented by the Global Securities and are issued in definitive form
(“Certificated Securities”), then the principal of, premium, if any, and interest, if any, on each Certificated Security at Maturity shall be paid to the Holder upon surrender of such Certificated Security at the office or agency
maintained by the Company in the Borough of Manhattan, The City of New York (which shall initially be the principal corporate trust office of The Bank of New York Mellon Trust Company, N.A., as Trustee) or at such other place or places as may be
designated in or pursuant to the Indenture, provided that such Certificated Security is surrendered to the Trustee, acting as Paying Agent, in time for the Paying Agent to make such payments in such funds in accordance with its normal procedures.
Payments of interest with respect to Certificated Securities other than at Maturity may, at the option of the 

 
Company, be made by check mailed to the address of the Person entitled thereto as it appears on the Security Register on the relevant Regular or Special Record Date or by wire transfer in same
day funds to such account as may have been appropriately designated to the Paying Agent by such Person in writing not later than such relevant Regular or Special Record Date. 
 Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual
signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

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

 

			
	HEWLETT-PACKARD COMPANY
		
	By:	 	  

		 	John N. McMullen
		 	Senior Vice President and Treasurer

  

			
	Attest:	 	  

		 	Paul T. Porrini
		 	 Vice President, Deputy General Counsel
 and Assistant Secretary

 Trustee’s Certificate of Authentication. 
 This is one of the Securities of the series designated 
 herein referred to in the within-mentioned
Indenture. 
 Dated: 
 THE BANK OF NEW
YORK MELLON 
 TRUST COMPANY, N.A., as Trustee 
  

			
		
	By:	 	  

		 	Authorized Signatory

 Reverse of Security 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under an Indenture, dated as of June 1, 2000 (herein called the “Indenture,” which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of New York Mellon Trust
Company, N.A. (as successor to The Bank of New York Trust Company, N.A., as successor to J.P. Morgan Trust Company, National Association, as successor to Chase Manhattan Bank and Trust Company, National Association), as trustee (herein called the
“Trustee,” which term includes any successor Trustee under the Indenture), and reference is hereby made to the Indenture and all indentures supplemental thereto for a statement of the respective rights, limitations of rights, duties and
immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof
initially limited in aggregate principal amount to $350,000,000. 
 This Security will bear interest for each interest period at
a rate determined by the calculation agent, which shall initially be The Bank of New York Mellon Trust Company, N.A. until such time as the Company appoints a successor calculation agent (herein called the “Calculation Agent,” which term
includes any successor Calculation Agent under the Indenture). The interest rate on the Securities for a particular Interest Period (as defined below) will be a per annum rate equal to three-month USD LIBOR (as defined below) as determined on the
Interest Determination Date plus 1.55% (the “Interest Rate”). The “Interest Determination Date” for an Interest Period will be the second London Business Day preceding the first day of such Interest Period. Promptly upon
determination, the Calculation Agent will inform the Trustee and the Company of the Interest Rate for the next Interest Period. Absent manifest error, the determination of the Interest Rate by the Calculation Agent shall be binding and conclusive on
the holders of this Security, the Trustee and the Company. A London Business Day is a day on which dealings in deposits in U.S. dollars are transacted in the London interbank market. 

Interest on the Securities will be paid to but excluding the relevant Interest Payment Date. Interest payments on the Securities will be
made quarterly in arrears on the Interest Payment Date, beginning on December 19, 2011, to the person in whose name this Security is registered at the close of business on the Business Day immediately preceding the Interest Payment Date.
Interest on this Security will accrue from and including September 19, 2011, to but excluding the first Interest Payment Date and then from and including the immediately preceding Interest Payment Date to which interest has been paid or duly
provided for to but excluding the next Interest Payment Date or date of Maturity, as the case may be (each of these periods is referred to as an “Interest Period”). The amount of accrued interest that the Company will pay for any Interest
Period shall be calculated by the Calculation Agent by multiplying the face amount of the Securities then outstanding by an Accrued Interest Factor. This Accrued Interest Factor is computed by adding the Interest Factor calculated for each day from
September 19, 2011, or from the latest date interest was paid to the date for which accrued interest is being calculated. The “Interest Factor” for each day is computed by dividing the Interest Rate applicable to that date by 360. If
an Interest Payment Date for the Securities falls on a day that is not a Business Day, the Interest Payment Date shall be postponed to the next succeeding Business Day unless such next succeeding Business Day would be in the

 
following month, in which case, the Interest Payment Date shall be the immediately preceding Business Day. 
 On any Interest Determination Date, “LIBOR” will be equal to the offered rate for deposits in U.S. dollars having an index maturity of three months, in amounts of at least $1,000,000, as such
rate appears on “Reuters Page LIBOR01” at approximately 11:00 a.m., London time, on such Interest Determination Date. If on an Interest Determination Date, such rate does not appear on the “Reuters Page LIBOR01” as of
11:00 a.m., London time, or if the “Reuters Page LIBOR01” is not available on such date, the Calculation Agent will obtain such rate from Bloomberg L.P.’s page “BBAM.” If no offered rate appears on “Reuters Page
LIBOR01” or Bloomberg L.P.’s page “BBAM” on an Interest Determination Date at approximately 11:00 a.m., London time, then the calculation agent (after consultation with the Company) will select four major banks in the London
interbank market and shall request each of their principal London offices to provide a quotation of the rate at which three-month deposits in U.S. dollars in amounts of at least $1,000,000 are offered by it to prime banks in the London interbank
market, on that date and at that time, that is representative of single transactions at that time. If at least two quotations are provided, LIBOR will be the arithmetic average of the quotations provided. Otherwise, the Calculation Agent will select
three major banks in New York City and shall request each of them to provide a quotation of the rate offered by them at approximately 11:00 a.m., New York City time, on the Interest Determination Date for loans in U.S. dollars to leading
European banks having an index maturity of three months for the applicable interest period in an amount of at least $1,000,000 that is representative of single transactions at that time. If three quotations are provided, LIBOR will be the arithmetic
average of the quotations provided. Otherwise, the rate of LIBOR for the next Interest Period will be set equal to the rate of LIBOR for the then current Interest Period. 
 Upon request from any holder of Securities, the Calculation Agent will provide the Interest Rate in effect for the Securities for the current Interest Period and, if it has been determined, the Interest
Rate to be in effect for the next Interest Period. 
 All percentages resulting from any calculation of the Interest Rate on the
Securities will be rounded to the nearest one hundred-thousandth of a percentage point with five one millionths of a percentage point rounded upwards (e.g., 9.876545% (or .09876545) would be rounded to 9.87655% (or .0987655)), and all dollar amounts
used in or resulting from such calculation on the Securities will be rounded to the nearest cent (with one-half cent being rounded upward). Each calculation of the Interest Rate on the Securities by the Calculation Agent will (in the absence of
manifest error) be final and binding on the Holders and the Company. 
 The Interest Rate on the Securities will in no event be
higher than the maximum permitted rate by New York law as the same may be modified by Unites States law of general application. 

The Securities may not be redeemed by the Company prior to Maturity. 

The Indenture contains provisions, which will apply to the Securities, for defeasance and covenant defeasance and Events of Default with
respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 

 If an Event of Default with respect to Securities of this series shall occur and be
continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities
of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of more than 50% in aggregate principal amount of the Securities at the time Outstanding of each series to be affected. The
Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the
Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration or transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

As provided in and subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any
proceeding with respect to the Indenture or for the appointment of a receiver or Trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to
the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default
as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at the time Outstanding a direction inconsistent with such request, and
shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of
principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 
 No reference herein
to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times,
place and rate, and in the coin or currency, herein prescribed. 
 The Securities of this series are issuable only in registered
form without coupons in denominations of $2,000 and any integral multiples of $1,000 in excess thereof. 
 This Security shall
be deemed to be a contract made under the laws of the State of New York, and for all purposes shall be construed in accordance with and governed by the laws of said State, without regard to conflict of laws principles thereof. 

All terms used in this Security that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

 ASSIGNMENT 
  

			
	 FOR VALUE RECEIVED the undersigned
 hereby sells, assigns and transfers unto:
	  	 PLEASE INSERT SOCIAL SECURITY OR
 OTHER IDENTIFYING NUMBER OF
ASSIGNEE:                                       
                                         

  
  

 
  
 (Please print or typewrite name and address including postal zip code of assignee) 
  

 
 the within Global Security of HEWLETT-PACKARD
COMPANY and all rights hereunder, hereby irrevocably constituting and appointing 

                         
                                         
                                         
                                         
                                        
attorney 
 to transfer said Global Security on the books of the within-named Company, with full power of substitution in the premises.

  

							
	Dated:	 	  
	 		 	
				
		 		 	SIGN HERE	 	  

		 		 		 	 NOTICE: THE SIGNATURE TO THIS

ASSIGNMENT MUST CORRESPOND
 WITH THE NAME AS
WRITTEN
 UPON THE FACE OF THE WITHIN

INSTRUMENT IN EVERY
 PARTICULAR,
WITHOUT
 ALTERATION OR ENLARGEMENT
 OR
ANY CHANGE WHATEVER.

				
		 		 		 	SIGNATURE GUARANTEED

 SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 

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

 

									
	 Date
	  	 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 Signatory
 of Trustee or Notes
Custodian

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