Document:

EX-10.32

 Exhibit 10.32 

FORM OF 
 CONTRIBUTION
AGREEMENT 
 by and between 

Rhino Resource Partners LP 

and 
 Mammoth Energy
Partners LP 
 Dated as of 

______________, 2014 

 TABLE OF CONTENTS 

 

							
	ARTICLE 1 CONTRIBUTION	  	 	1	  
			
	 1.1
	 	 Contribution of Interests
	  	 	1	  
			
	 1.2
	 	 Consideration
	  	 	1	  
			
	 1.3
	 	 Tax Treatment
	  	 	1	  
			
	 1.4
	 	 Unwind
	  	 	2	  
		
	ARTICLE 2 REPRESENTATIONS AND WARRANTIES OF MAMMOTH	  	 	2	  
			
	 2.1
	 	 Organization of Mammoth
	  	 	2	  
			
	 2.2
	 	 Power and Authority; Enforceability
	  	 	2	  
			
	 2.3
	 	 No Violation; Necessary Approvals
	  	 	3	  
			
	 2.4
	 	 Brokers’ Fees
	  	 	3	  
			
	 2.5
	 	 Capitalization
	  	 	3	  
			
	 2.6
	 	 Issuance of Common Units
	  	 	4	  
			
	 2.7
	 	 Records
	  	 	4	  
			
	 2.8
	 	 Mammoth Form S-1; Financial Statements
	  	 	4	  
			
	 2.9
	 	 Transactions with Affiliates
	  	 	5	  
			
	 2.10
	 	 Registration Rights
	  	 	5	  
			
	 2.11
	 	 Disclosure
	  	 	5	  
		
	ARTICLE 3 REPRESENTATIONS AND WARRANTIES OF CONTRIBUTOR	  	 	5	  
			
	 3.1
	 	 Organization of Contributor
	  	 	5	  
			
	 3.2
	 	 Power and Authority; Enforceability
	  	 	5	  
			
	 3.3
	 	 No Violation; Necessary Approvals
	  	 	6	  
			
	 3.4
	 	 Title to Interests
	  	 	6	  
			
	 3.5
	 	 Accredited Investor
	  	 	6	  
		
	ARTICLE 4 COVENANTS	  	 	6	  
			
	 4.1
	 	 General
	  	 	6	  
			
	 4.2
	 	 Covenants of Contributor
	  	 	7	  
			
	 4.3
	 	 Covenants of Mammoth
	  	 	7	  
			
	 4.4
	 	 Confidentiality
	  	 	8	  
			
	 4.5
	 	 Notice
	  	 	8	  
			
	 4.6
	 	 Form S-1
	  	 	8	  
			
	 4.7
	 	 Access
	  	 	9	  

  
 i 

							
		
	ARTICLE 5 CLOSING	  	 	10	  
			
	 5.1
	 	 Conditions Precedent
	  	 	10	  
			
	 5.2
	 	 Time and Place; Closing
	  	 	11	  
			
	 5.3
	 	 Contributor’s Closing Deliveries
	  	 	11	  
			
	 5.4
	 	 Mammoth’s Closing Deliveries
	  	 	12	  
		
	ARTICLE 6 TERMINATION	  	 	12	  
			
	 6.1
	 	 Termination
	  	 	12	  
			
	 6.2
	 	 Effect of Termination
	  	 	13	  
		
	ARTICLE 7 INDEMNIFICATION	  	 	13	  
			
	 7.1
	 	 Indemnification
	  	 	13	  
			
	 7.2
	 	 Indemnification Claim Procedures
	  	 	13	  
		
	ARTICLE 8 MISCELLANEOUS	  	 	14	  
			
	 8.1
	 	 Definitions
	  	 	14	  
			
	 8.2
	 	 Entire Agreement
	  	 	17	  
			
	 8.3
	 	 Assignment; Binding Effect
	  	 	17	  
			
	 8.4
	 	 Notices
	  	 	18	  
			
	 8.5
	 	 Specific Performance; Remedies
	  	 	18	  
			
	 8.6
	 	 Headings
	  	 	18	  
			
	 8.7
	 	 Governing Law
	  	 	18	  
			
	 8.8
	 	 Amendment; Extensions; Waivers
	  	 	18	  
			
	 8.9
	 	 Severability
	  	 	19	  
			
	 8.10
	 	 Expenses
	  	 	19	  
			
	 8.11
	 	 Counterparts; Effectiveness
	  	 	19	  
			
	 8.12
	 	 Construction
	  	 	19	  

  
 ii 

 CONTRIBUTION AGREEMENT 

This Contribution Agreement (this “Agreement”), dated as of October [    ], 2014 (the
“Effective Date”), is by and between Rhino Resource Partners LP, a Delaware limited partnership (“Contributor”), and Mammoth Energy Partners LP, a Delaware limited partnership
(“Mammoth”). Contributor and Mammoth are hereinafter sometimes referred to individually as a “Party” and together as the “Parties.” 

RECITALS 
 A. Contributor
owns a 5.8732% preferred interest and a 5.87% common interest in Muskie Proppant LLC (“Muskie”), in each case subject to adjustment in accordance with the terms of the limited liability company agreement (the
“Interests”). 
 B. Contributor desires to contribute the Interests to Mammoth for common units representing limited
partner interests in Mammoth (the “Common Units”) and other consideration upon the terms and conditions hereinafter set forth. 

C. Capitalized terms used but not immediately defined have the meanings ascribed to them in Section 8.1 of this Agreement. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the premises, the respective representations, warranties, covenants and agreements contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
and intending to be legally bound, the Parties agree as follows: 
 ARTICLE 1 

CONTRIBUTION 
 1.1
Contribution of Interests. At the Closing and subject to the terms and conditions contained in this Agreement, Contributor shall contribute, transfer, assign, convey and deliver to Mammoth (or a wholly-owned Subsidiary of Mammoth as directed by
Mammoth), and Mammoth (or such Subsidiary) shall acquire and accept, all of Contributor’s right, title and interest held in the Interests. 

1.2 Consideration. At the Closing, Mammoth shall, in exchange for the transfer of the Interests, issue to Contributor Common Units
representing a         % equity interest in Mammoth (the “Closing Consideration”). 

1.3 Tax Treatment. 

(a) The Parties intend for the transactions between them contemplated in this Agreement to qualify as a tax-free exchange under
Section 721 of the Code and, in accordance therewith, the Parties acknowledge that Contributor and Holdings will own one-hundred percent (100%) of all of the issued and outstanding Common Units

 
immediately following the consummation of the Rhino Contribution, the Holdings Contribution and the Gulfport Contribution and immediately prior to the consummation of the IPO. 

(b) Contributor and Mammoth hereby agree to the U.S. federal income tax treatment described in this Section 1.3,
and neither Contributor nor Mammoth shall maintain a position on their respective U.S. federal income tax returns or otherwise that is inconsistent therewith. 

1.4 Unwind. If the Rhino Contribution is made but the IPO does not close for any reason, upon the Termination Date the Interests shall
be returned to Contributor and Contributor shall return the Closing Consideration and this Agreement shall be null and void. 
 ARTICLE 2

 REPRESENTATIONS AND WARRANTIES OF MAMMOTH 

Mammoth hereby represents and warrants to Contributor as of the Effective Date and as of the Closing Date (except to the extent that any such
representation or warranty expressly relates to another date, in which case such representation or warranty shall be as of such date) as follows: 

2.1 Organization of Mammoth. Mammoth (a) is a limited partnership duly organized, validly existing and in good standing under the
Laws (as defined below in Section 2.3) of the State of Delaware, (b) is duly qualified to do business as a foreign limited partnership and is in good standing under the Laws of each jurisdiction in which either the ownership or use
of the properties owned or used by it, or the nature of the activities conducted by it, requires such qualification, (c) has the limited partnership power and authority necessary to own or lease its properties and to carry on its business as
currently conducted and (d) is not in breach or violation of, or default under, any provision of its Organizational Documents. Mammoth has not approved or taken any action, and there is not pending or, to Mammoth’s knowledge, threatened
any action, suit, arbitration, mediation, investigation or similar proceeding (an “Action”) for the dissolution, liquidation, insolvency or rehabilitation of Mammoth. 

2.2 Power and Authority; Enforceability. Mammoth has the relevant limited partnership power and authority necessary to execute and
deliver this Agreement and each such other document contemplated hereby and any amendments or supplements to any of the foregoing (collectively, the “Transaction Documents”) to which Mammoth is a party, and to perform and
consummate the transactions contemplated by the Rhino Contribution (the “Transactions”). Mammoth has taken all action necessary to authorize the execution and delivery by Mammoth of each Transaction Document to which it is a
party, the performance of Mammoth’s obligations thereunder, and the consummation by Mammoth of the Transactions, the Holdings Contribution, the Gulfport Contribution and the IPO (subject to final authorization of the Pricing Committee of the
Board of Directors of the general partner of Mammoth, if applicable). Each Transaction Document to which Mammoth is a party has been duly authorized, executed and delivered by Mammoth, and constitutes the legal, valid and binding obligation of
Mammoth, enforceable against Mammoth in accordance with its terms except as such enforceability may be subject to the effects of bankruptcy, insolvency, reorganization, moratorium or other Laws relating to or affecting the rights of creditors and
general principles of equity (the “Enforceability Exception”). 

  
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 2.3 No Violation; Necessary Approvals. The execution and the delivery by Mammoth of this
Agreement and the other Transaction Documents to which it is a party, the performance by Mammoth of its obligations hereunder and thereunder, and consummation of the Transactions, the Holdings Contribution, the Gulfport Contribution and the IPO by
Mammoth will not (i) with or without notice or lapse of time, constitute, create or result in a breach or violation of, default under, loss of benefit or right under or acceleration of performance of any obligation required under any
(A) law (statutory, common or otherwise), constitution, ordinance, rule, regulation, executive order or other similar authority (“Law”) enacted, adopted, promulgated or applied by any legislature, agency, bureau, branch,
department, division, commission, court, tribunal or other similar recognized organization or body of any federal, state, county, municipal, local or foreign government or other similar recognized organization or body exercising similar powers or
authority (a “Governmental Body”), (B) order, ruling, decision, award, judgment, injunction or other similar determination or finding by, before or under the supervision of any Governmental Body or arbitrator (an
“Order”), (C) contract, agreement, arrangement, commitment, instrument, document or similar understanding (whether written or oral), including a lease, sublease and rights thereunder (“Contract”)
or permit, license, certificate, waiver, notice and similar authorization (“Permit”) to which, in the case of (A), (B) or (C), Mammoth is a party or by which Mammoth is bound or any of its assets are subject, or
(D) any provision of the Organizational Documents of Mammoth as in effect on the Closing Date; (ii) result in the imposition of any Lien upon any assets owned by Mammoth, or any Common Units owned by any of the unitholders of Mammoth;
(iii) require any Consent under any Contract or Organizational Document to which Mammoth is a party or by which it is bound or any of its assets are subject, except for any such Consents as have been obtained; (iv) require any Permit under
any Law or Order other than (A) required filings, if any, with the Commission and (B) notifications or other filings with state or federal regulatory agencies after the Closing that are necessary or convenient and do not require approval
of the agency as a condition to the validity of the Transactions, the Holdings Contribution, the Gulfport Contribution or the IPO; or (v) trigger any rights of first refusal, preferential purchase or similar rights with respect to any equity
interest in Mammoth, which have not been validly waived. 
 2.4 Brokers’ Fees. Mammoth has no liability or obligation to pay any
compensation to any broker, finder or agent with respect to the Transactions, the Holdings Contribution, the Gulfport Contribution or the IPO for which Contributor could become directly or indirectly liable, other than any underwriter discounts and
commissions incurred in connection with any sale of Common Units by Contributor. 
 2.5 Capitalization. As of the Closing, Mammoth
will be authorized to issue an unlimited number of Common Units and all of the issued and outstanding equity interests in Mammoth: (a) will have been duly authorized and validly issued, fully paid and nonassessable; (b) will have been
issued in compliance with all applicable state and federal securities Laws; and (c) will not have been issued in breach or violation of, or will not cause as a result of the issuance thereof a default under, any Contract with or right granted
to any other person. Subject to the following sentence, Mammoth has no outstanding options, warrants, exchangeable or convertible securities, subscription rights, exchange rights, statutory pre-emptive rights, preemptive rights 

  
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granted under its Organizational Documents, stock appreciation rights, phantom stock, profit participation or similar rights, or any other right or instrument pursuant to which any person may be
entitled to purchase any security interests in Mammoth, and has no obligation to issue any rights or instruments (“Equity Rights”). There are no Contracts with respect to the issuance, voting or transfer of any of the equity
interest in Mammoth except as are or will be set forth in the Investor Rights Agreement, the Holdings Registration Rights Agreement, the Rhino Registration Rights Agreement, the Limited Partnership Agreement, the Underwriting Agreement or as will be
described in the Prospectus or arising under applicable securities Laws. Mammoth is not obligated to redeem or otherwise acquire any of its outstanding Common Units or other equity interests. Prior to the Holdings Contribution, the Gulfport
Contribution and the Rhino Contribution, Mammoth will not, directly or indirectly, control, own or have any Equity Interest in any Person. 

2.6 Issuance of Common Units. The Common Units included in the Closing Consideration, when issued and delivered to Contributor in
accordance with the terms of this Agreement for the consideration described in this Agreement, will have been (i) duly authorized and validly issued by Mammoth, (ii) fully paid and non-assessable, (iii) not subject to any preemptive
or similar rights created by any Law or Order to which Mammoth is a party or by which it is bound and (iv) free and clear of all Liens, other than those created by Contributor, including but not limited to those arising from the Underwriting
Agreement and arising under applicable securities Laws. 
 2.7 Records. The copies of the Organizational Documents of Mammoth that
were provided to Contributor are accurate and complete and reflect all amendments made through the date hereof. Except as set forth in the Form S-1, no steps have been taken by Mammoth or its officers, directors, or unitholders to effect or
authorize any further amendment or modification thereto. The minute books of Mammoth and the other records made available to Contributor for review were correct and complete as of the date of such review, no further entries have been made through
the Effective Date, such minute books and records contain the true signatures of the persons purporting to have signed them, and such minute books and records contain an accurate record of all actions of the members, managers or any other governing
body of each Mammoth taken by written consent, at a meeting, or otherwise since formation. 
 2.8 Mammoth Form S-1; Financial
Statements. Mammoth has filed with the Securities and Exchange Commission (the “Commission”) a Registration Statement on Form S-1, File No. 333-198894 (the “Form
S-1”). The combined financial statements of Redback Energy Services included in the Form S-1 comply as to form in all material respects with applicable accounting requirements and with the published rules and regulations of the
Commission with respect thereto and fairly present, in conformity in all material respects with generally accepted accounting principles (“GAAP”) applied on a consistent basis (except as may be indicated in the notes
thereto), the combined financial position of Muskie, Bison Drilling & Field Services LLC, Bison Trucking LLC, Panther Drilling Systems LLC, Redback Energy Services, LLC, Redback Coil Tubing, LLC and Great White Sand Tiger Lodging Ltd as of
the dates thereof and their combined results of operations and changes in financial position for the periods then ended. 

  
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 2.9 Transactions with Affiliates. Except as described in the Form S-1, Mammoth is not a
party to or subject to any agreements, contracts or obligations with any of its Affiliates, any direct or indirect equity owner of Mammoth, any Affiliate or family member of any such equity owner, or any officer, director, manager or employee of
Mammoth that is required to be disclosed in the Form S-1 under Regulation S-K of the Securities Act. 
 2.10 Registration Rights.
Except as described in the Form S-1, Mammoth has not granted or agreed to grant any registration rights with respect to the registration of its securities under the Securities Act, including piggyback
registration rights, to any Person. 
 2.11 Disclosure. Mammoth has made available to Contributor all the information reasonably
available to Mammoth that Contributor has requested for deciding whether to acquire the Common Units, including certain of Mammoth’s projections describing its proposed business plan, which were prepared in good faith, it being understood that
uncertainty is inherent in any forecasts or projections and that no assurance can be given that the results set forth in the projections will actually be attained. Accordingly, Mammoth makes no representation or warranty regarding the accuracy of
such projections. 
 ARTICLE 3 

REPRESENTATIONS AND WARRANTIES OF CONTRIBUTOR 

Contributor hereby represents and warrants to Mammoth as of the Effective Date and as of the Closing Date (except to the extent that any such
representation or warranty expressly relates to another date, in which case such representation or warranty shall be as of such date) as follows: 

3.1 Organization of Contributor. Contributor (a) is a limited partnership duly organized, validly existing and in good standing
under the Laws of the State of Delaware, (b) is duly qualified to do business as a foreign limited partnership and is in good standing under the Laws of each jurisdiction in which either the ownership of the properties owned or used by it, or
the nature of the activities conducted by it, requires such qualification, (c) has the limited partnership power and authority necessary to own or lease its properties and to carry on its business as currently conducted and (d) is not in
breach or violation of, or default under, any provision of its Organizational Documents. Contributor has not approved or taken any action, and there is not pending or (to Contributor’s knowledge) threatened Action for the dissolution,
liquidation, insolvency or rehabilitation of Contributor. 
 3.2 Power and Authority; Enforceability. Contributor has the relevant
limited partnership power and authority necessary to execute and deliver each Transaction Document to which it is a party and to perform and consummate the Transactions. Contributor has taken all action necessary to authorize its execution and
delivery by Contributor of each Transaction Document to which Contributor is a party, the performance of its obligations thereunder and the consummation by Contributor of the Transactions. Each Transaction Document to which Contributor is a party
has been duly authorized, executed and delivered by Contributor, and constitutes the legal, valid and binding obligation of Contributor, enforceable against Contributor in accordance with its terms, subject to the Enforceability Exception. 

  
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 3.3 No Violation; Necessary Approvals. The execution and the delivery by Contributor of
this Agreement and the other Transaction Documents to which Contributor is a party, the performance by Contributor of its obligations hereunder and thereunder and the consummation of the Transactions by Contributor will not (i) with or without
notice or lapse of time, constitute, create or result in a breach or violation of, default under, loss of benefit or right under or acceleration of performance of any obligation required under any Law, Order, Contract or Permit to which Contributor
is a party or by which it is bound or any of its assets is subject, or any provision of Contributor’s Organizational Documents as in effect on the Closing Date; (ii) result in the imposition of any Lien upon any assets owned by
Contributor, including without limitation the Interests; (iii) require any Consent under any Contract or Organizational Document to which Contributor is a party or by which it is bound, other than such Consents that have been obtained or will
be obtained prior to the Closing; or (iv) require any Permit under any Law or Order other than (A) required filings, if any, with the Commission and (B) notifications or other filings with state or federal regulatory agencies after
the Closing that are necessary or convenient and do not require approval of the agency as a condition to the validity of the Transactions. 

3.4 Title to Interests. Contributor is the record and beneficial owner of the Interests and, upon sale and delivery of the Interests to
Mammoth and upon payment by Mammoth to Contributor of the Closing Consideration, Contributor will convey to Mammoth good and marketable title to the Interests, free and clear of all Liens other than those arising under federal and state securities
Laws. There are no transfer restrictions (other than applicable federal and state securities Laws), voting restrictions, preemptive rights, rights of first refusal or any other rights pursuant to any contract, arrangement or understanding entered
into or acknowledged by Contributor or its Affiliates imposed upon or with respect to the Interests, and no notices or consents to or from any other party are required under any agreement, Law, Order or otherwise with respect to the transfer of the
Interests hereunder, other than those arising under the respective limited liability company agreements of the entities whose interests are being transferred. Neither Contributor nor any of its Affiliates is a party to any members agreement, voting
trust or other similar contract or agreement with respect to the Interests. 
 3.5 Accredited Investor. Contributor is an
“accredited investor,” as such term is defined in Regulation D of the Securities Act, and will acquire the Common Units for its own account and not with a view to a sale or distribution thereof in violation of the Securities Act, and the
rules and regulations thereunder, any applicable state blue sky Laws or any other applicable securities Laws. Contributor acknowledges that the Common Units will not be registered under the Securities Act or any applicable state securities law, and
that the Common Units may not be transferred or sold except pursuant to the registration provisions of the Securities Act or pursuant to an applicable exemption therefrom and pursuant to state securities laws and regulations as applicable. 

ARTICLE 4 
 COVENANTS

 4.1 General. 

(a) Subject to the terms and conditions provided in this Agreement, each Party covenants and agrees to use commercially
reasonable efforts and cooperate with each 

  
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other in (i) promptly determining whether any filings are required to be made or consents, approvals, waivers, permits or authorizations are required to be obtained (under any applicable
Laws or from any Governmental Body or third party) in connection with the Transactions, (ii) promptly making any such filings, furnishing information required in connection therewith and timely seeking to obtain any such consents, approvals,
waivers, permits or authorizations and (iii) taking all actions and doing, or causing to be done, all things necessary, proper and/or appropriate to consummate and make effective the Transactions. 

(b) If any time after the Closing any further action is necessary or desirable to carry out this Agreement’s purposes,
each Party will take such further action (including executing and delivering any further instruments and documents, obtaining any Permits and Consents and providing any reasonably requested information) as any other Party may reasonably request, all
at the requesting Party’s sole cost and expense (unless the requesting Party is entitled to indemnification therefor under Article 7). 

4.2 Covenants of Contributor. From the Effective Date through the Closing, the Contributor will not, without the prior written consent
of Mammoth: 
 (a) sell, transfer (or agree to sell or transfer) or otherwise dispose of, or cause the sale, transfer or
disposition of (or agree to do any of the foregoing) all or any portion of the Interests; or 
 (b) cause or take any action
that would render any of the representations or warranties set forth in Article 3 untrue in any material respect. 

Notwithstanding anything in this Agreement to the contrary, Contributor shall be permitted to (i) participate in negotiations or
discussions with any person or group of persons other than Mammoth and its Affiliates that has made (and not withdrawn) an unsolicited offer, indication of interest, proposal or inquiry relating to an alternative transaction that it believes in good
faith would reasonably be expected to result in a transaction more favorable to the stockholders of Contributor than the Transactions, (ii) thereafter furnish to such third party non-public information relating to the Interests for the purpose
of assisting with or facilitating an alternative transaction, and (iii) after the termination of this Agreement pursuant to Section 6.1 enter into an alternative transaction or any agreement, arrangement or understanding, including,
without limitation, any letter of intent, term sheet or other similar document, relating to an alternative transaction with such third party. 

4.3 Covenants of Mammoth. From the Effective Date through the Closing, and except as contemplated by or as may be specified in this
Agreement, the Transactions, the IPO or the Form S-1, Mammoth will not, without the prior written consent of the Contributor: 

(a) amend its Organizational Documents; 

(b) authorize for issuance, issue, sell, deliver or agree or commit to issue, sell or deliver (whether through the issuance or
granting of options, warrants, commitments, subscriptions, rights to purchase or otherwise) any Common Units or any other debt or equity securities or equity equivalents (including any options or appreciation rights); 

  
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 (c) split, combine or reclassify any of its Equity Interests, declare, set aside
or pay any dividend or other distribution (whether in cash, securities or property or any combination thereof) in respect of its Equity Interests, make any other actual, constructive or deemed distribution in respect of its Equity Interests or
otherwise make any payments to unitholders in their capacity as such, or redeem or otherwise acquire any of its securities or any securities of any of its subsidiaries; 

(d) sell, lease, license, transfer, distribute or otherwise dispose of any material assets in any single transaction or series
of related transactions or permit or cause Holdings to do so; 
 (e) except as may be required as a result of a change in law
or in GAAP, materially change any of the accounting principles, practices or methods used by it; or 
 (f) cause or take any
action that would render any of the representations and warranties set forth in Article 2 untrue in any material respect. 
 4.4
Confidentiality. Each Party will, and will cause each of its respective Affiliates, directors, officers, employees, agents, representatives and similarly situated persons to treat and hold as confidential, and not use or disclose, all of the
information possessed by such person concerning the Transactions, the Holdings Contribution, the Gulfport Contribution, the IPO, Mammoth, its business, the negotiation or existence and terms of this Agreement and the business affairs of Contributor,
except for disclosures (i) to the person’s professional advisors, the actions for which the disclosing person will be responsible, (ii) required for such person to perform obligations it may have under this Agreement, including the
completion of the IPO, or (iii) required by applicable Law or securities exchange regulations. 
 4.5 Notice. From the Effective
Date through the Closing, each Party shall give prompt written notice to the other Party of (i) any representation or warranty made by it contained in this Agreement that is qualified as to materiality becoming untrue or inaccurate in any
respect or any such representation or warranty that is not so qualified becoming untrue or inaccurate in any material respect, or (ii) the failure by it to comply with or satisfy in any material respect any covenant, condition or agreement to
be complied with or satisfied by it under this Agreement; provided, however, that no such notification shall affect the representations, warranties, covenants or agreements of the Parties or the conditions to the obligations of the Parties under
this Agreement. 
 4.6 Form S-1. 

(a) Mammoth shall prepare an amendment to the Form S-1 and, if required, Contributor shall prepare a Current Report on
Form 8-K, each of which shall include descriptions of this Agreement and the Transactions and such forms shall be filed with the Commission. The Parties shall cooperate and consult with each other with respect to the disclosure of the
Transactions contained in the Form 8-K and the Form S-1. Mammoth shall promptly provide copies or all written comments received from the Commission that relate to Contributor, and consult with Contributor with respect to any such comments
received from the Commission regarding the Transaction, and make 

  
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available to Contributor upon its request a complete and correct copy of any amendments that are filed with the Commission. At its effective time, the Form S-1 shall comply as to form in all
material respects with the rules and regulations promulgated by the Commission under the Securities Act and shall not contain any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in
order to make the statements therein in light of the circumstances under which they were made not misleading. Mammoth will advise Contributor, after it receives notice thereof, of the time when Form S-1 has become effective or any supplement or
amendment has been filed, or the issuance of any stop order. 
 (b) Mammoth shall use its commercially reasonable efforts to
include such number of Common Units of Contributor requested by Contributor to be included in the Form S-1 as a selling unitholder and such Common Units shall be included in the underwriting on the same terms and conditions as the Common Units
being offered by Mammoth, subject to Contributor entering into the underwriting agreement. If the managing underwriters advise Mammoth that in their good faith judgment the number of Common Units requested to be included in the Form S-1 by
Contributor exceeds the number which can be sold in the IPO without materially and adversely affecting the marketability of the IPO, then the Form S-1 shall include the maximum number of shares that the managing underwriters advise can be sold
in the IPO by Contributor allocated as follows: (i) first, the Common Units that Mammoth proposes to sell, and (ii) second, to the extent that any other Common Units may be included without exceeding the limitations recommended by the
underwriters as aforesaid, such number of Common Units to be included in the Form S-1 by Contributor, Holdings and Gulfport will be included on a pro rata basis (or in such other proportion mutually agreed among Contributor, Holdings and Gulfport).

 4.7 Access. Mammoth will cause or permit representatives of Contributor to have full access at all reasonable times, and in a
manner so as not to interfere with the normal business operations of Mammoth, to all premises, properties, personnel, books, records, Contracts, and documents pertaining to the IPO, the Transactions and such other information to enable Contributor
to determine the satisfaction of the conditions to closing set forth in Section 5.1 and will furnish copies of all such books, records, Contracts, and documents and all financial, operating and other data, and other information as
Contributor may reasonably request; provided, however, that no investigation pursuant to this Section 4.7 will affect any representations or warranties made herein or the conditions to the Parties’ obligations to consummate the
Transactions. From and after the Closing Date, Mammoth will give the Contributor’s representatives reasonable access to such documentation and information and reasonable access to, and cause the cooperation of, employees of Mammoth which the
Contributor may reasonably require (i) to prepare and file Tax returns and to respond to any issues which may arise with respect to Taxes for which the Contributor is responsible to the extent relating to their ownership of the Interests and
(ii) to defend any claim which the Contributor is required to defend in connection with its ownership of the Interests prior to the Closing Date. 

  
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 ARTICLE 5 

CLOSING 
 5.1 Conditions
Precedent. 
 (a) Conditions to Each Party’s Obligations. The obligations of each Party to effect the
Transactions shall be subject to the satisfaction or waiver of the following conditions: 
 (i) No Law or Order shall have
been enacted, issued, entered, promulgated or enforced by any Governmental Body that prohibits the consummation of the Transactions, the Holdings Contribution, the Gulfport Contribution or the IPO (which condition may not be waived by any Party),
nor shall any proceeding brought by a Governmental Body of competent jurisdiction be pending that seeks the foregoing; 

(ii) The Commission shall have advised Mammoth that the Form S-1 has been declared effective and each Party shall be satisfied
that the IPO will be completed; and 
 (iii) Any governmental or regulatory notices, approvals or other requirements
necessary to consummate the Transactions, the Holdings Contribution, the Gulfport Contribution and the IPO shall have been given, obtained or complied with, as applicable. 

(b) Conditions to Obligations of Mammoth. The obligations of Mammoth to consummate the transactions to be performed by
it in connection with the Closing is subject to satisfaction (or waiver by it in writing) of the following conditions: 
 (i)
The representations and warranties of the Contributor contained in this Agreement shall be true and correct in all material respects at the Closing Date as if made at that time (except to the extent that any representation or warranty speaks as of
an earlier date, in which case it must be true and correct only as of that earlier date); 
 (ii) Contributor shall have
performed in all material respects all agreements and covenants required by this Agreement to be performed or complied with by it on or prior to the Closing Date; 

(iii) All Liens on the Interests under Contributor’s loan documents shall have been released by the lenders thereunder.

 (iv) Contributor shall have executed and delivered to Mammoth the documents required to be delivered by it pursuant to
Section 5.3 hereof. 
 Any or all of the foregoing conditions may be waived by Mammoth in its sole and absolute discretion. 

  
 -10- 

 (c) Conditions to Obligations of the Contributor. The obligations of the
Contributor to consummate the transactions to be performed by it in connection with the Closing is subject to satisfaction (or waiver by it in writing) of the following conditions: 

(i) The representations and warranties of Mammoth contained in this Agreement shall be true and correct in all material
respects at the Closing Date as if made again at that time (except to the extent that any representation or warranty speaks as of an earlier date, in which case it must be true and correct only as of that earlier date); 

(ii) Mammoth shall have performed in all material respects all agreements and covenants required by this Agreement to be
performed or complied with by it on or prior to the Closing Date; 
 (iii) Contributor shall have determined that the terms
and conditions of the Holdings Contribution and the Gulfport Contribution, including, without limitation, matters relating to title to the Equity Interests held by Holdings and Gulfport, respectively, and contributed to Mammoth, and the IPO,
including, without limitation, the IPO Price, the net proceeds of the IPO and the number of Common Units of Contributor included in the IPO, are acceptable to Contributor in its sole and absolute discretion; 

(iv) The Common Units shall have been approved for listing on The NASDAQ Global Market or the NASDAQ Global Select Market or
another national securities exchange, subject only to official notice of issuance; 
 (v) The Holdings Contribution and the
Gulfport Contribution shall have occurred; 
 (vi) No material adverse change in the condition, financial or otherwise, or in
the assets, earnings, business, condition (financial or otherwise), management, results of operations or prospects of Mammoth, whether or not arising in the ordinary course of business, shall have occurred; and 

(vii) Mammoth shall have executed and delivered to the Contributor the documents required to be delivered pursuant to
Section 5.4 hereof. 
 Any or all of the foregoing conditions may be waived by Contributor in its sole and absolute discretion.

 5.2 Time and Place; Closing. Unless this Agreement shall have terminated pursuant to Article 6, the closing of the
Transactions (the “Closing”) shall occur upon the satisfaction or waiver of the conditions in Section 5.1 (the “Closing Date”). The Closing shall take place at a place as determined by
Contributor and Mammoth. 
 5.3 Contributor’s Closing Deliveries. On the Closing Date, Contributor shall deliver or cause to be
delivered to Mammoth the following closing documents: 

  
 -11- 

 (a) Instruments of conveyance and assignment, substantially in the form attached
hereto as Exhibit A (the “Assignments”), and any other documents or certificates that are in the possession of Contributor which are reasonably requested by Mammoth and are reasonably necessary or desirable in
connection with the assignment, transfer, conveyance, contribution and delivery of the Interests to Mammoth and to effectuate the transactions contemplated hereby; 

(b) A certification regarding the accuracy in all material respects of Contributor’s representations and warranties in
this Agreement at the Closing Date (except to the extent that any representation or warranty speaks as of an earlier date, in which case it must be true and correct only as of that earlier date); and 

(c) The registration rights agreement, substantially in the form attached hereto as Exhibit B (the
“Rhino Registration Rights Agreement”) duly executed and delivered by the Contributor. 
 5.4 Mammoth’s
Closing Deliveries. On the Closing Date, Mammoth shall deliver or cause to be delivered to the Contributor the following closing documents: 

(a) Mammoth shall have issued the Common Units to Contributor either in the form of one or more certificates, in such names as
Contributor shall direct, or through the electronic registration of such Common Units with the Depository Trust Company, a New York corporation; 

(b) A certification regarding the accuracy in all material respects of each of Mammoth’s representations and warranties in
this Agreement at the Closing Date (except to the extent that any representation or warranty speaks as of an earlier date, in which case it must be true and correct only as of that earlier date); and 

(c) The Rhino Registration Rights Agreement duly executed and delivered by Mammoth. 

ARTICLE 6 
 TERMINATION

 6.1 Termination. This Agreement may be terminated as follows: 

(a) by mutual written consent of the Parties; 

(b) by either Party if any court of competent jurisdiction in the United States or other United States federal or state
Governmental Body shall have issued a final Order or taken any other final action, restraining, enjoining or otherwise prohibiting the Transactions, the Gulfport Contribution, the Holdings Contribution, the Gulfport Contribution or the IPO and such
order, decree, ruling or other action is or shall have become nonappealable; 
 (c) by Mammoth, upon a breach of any
representation, warranty, covenant or agreement on the part of the Contributor set forth in this Agreement such that the conditions set forth in Section 5.1(a) and (b) shall have become incapable of fulfillment and such
breach shall not have been waived by Mammoth; 

  
 -12- 

 (d) by Contributor, upon a breach of any representation, warranty, covenant or
agreement on the part of Mammoth set forth in this Agreement such that the conditions set forth in Section 5.1(a) and (c) shall have become incapable of fulfillment and such breach shall not have been waived by Contributor;
or 
 (e) by either Party if the Closing does not occur by January 31, 2015, or at such earlier time as Mammoth
determines not to proceed with or otherwise terminates the IPO. 
 6.2 Effect of Termination. In the event of the termination and
abandonment of this Agreement pursuant to Section 6.1 (the date of such termination or abandonment is referred to in this Agreement as the “Termination Date”), this Agreement shall forthwith become void and have
no effect without any liability on the part of any party hereto or its Affiliates, directors, officers, unitholders or stockholders other than the provisions of this Section 6.2 and Article 7 hereof. Nothing contained in this
Section 6.2 shall relieve any party from liability for any breach of this Agreement prior to such termination. 
 ARTICLE 7

 INDEMNIFICATION 

7.1 Indemnification. 

(a) Contributor shall indemnify and hold Mammoth and its Affiliates, and their respective officers, directors, managers,
employees, agents, representatives, controlling persons, members, unitholders and similarly situated persons, harmless from and pay any and all Damages directly or indirectly, resulting from, relating to, arising out of or attributable to
(i) any breach of any representation or warranty the Contributor has made in this Agreement; or (ii) any breach, violation or default by Contributor of any covenant, agreement or obligation of Contributor in this Agreement. 

(b) Mammoth shall indemnify and hold the Contributor and its Affiliates, and their respective officers, directors, managers,
employees, agents, representatives, controlling persons, members, stockholders and similarly situated persons, harmless from and pay any and all Damages directly or indirectly, resulting from, relating to, arising out of or attributable to
(i) any breach of any representation or warranty Mammoth has made in this Agreement; or (ii) any breach, violation or default by Mammoth of any covenant, agreement or obligation of Mammoth in this Agreement. 

7.2 Indemnification Claim Procedures. 

(a) If any Action is commenced or threatened that may give rise to a claim for indemnification (an “Indemnification
Claim”) by any person entitled to indemnification under this Agreement (each, an “Indemnified Party”) against any person obligated to indemnify an Indemnified Party (an “Indemnitor”), then
such Indemnified Party will promptly give notice to the Indemnitor. Failure to notify the Indemnitor will not relieve 

  
 -13- 

 
the Indemnitor of any liability that it may have to the Indemnified Party, except to the extent the defense of such Action is materially and irrevocably prejudiced by the Indemnified Party’s
failure to give such notice. An Indemnitor may elect at any time to assume and thereafter conduct the defense of the Indemnification Claim with counsel of the Indemnitor’s choice reasonably satisfactory to the Indemnified Party; provided,
however, that the Indemnitor will not approve of the entry of any judgment or enter into any settlement with respect to the Indemnification Claim without the Indemnified Party’s prior written approval (which must not be withheld unreasonably).
Until an Indemnitor assumes the defense of the Indemnification Claim, the Indemnified Party may defend against the Indemnification Claim in any manner the Indemnified Party reasonably deems appropriate. If the Indemnified Party gives an Indemnitor
notice of an Indemnification Claim and the Indemnitor does not, within ten (10) days after such notice is given, give notice to the Indemnified Party of its election to assume the defense of such Indemnification Claim and thereafter promptly
assume such defense, then the Indemnitor will be bound by any judicial determination made with respect to such Indemnification Claim or any compromise or settlement of such Indemnification Claim effected by the Indemnified Party. 

(b) A claim for any matter not involving a third party may be asserted by notice to the Party from whom indemnification is
sought. 
 ARTICLE 8 

MISCELLANEOUS 
 8.1
Definitions. For the purposes of this Agreement, the following terms have the meanings set forth below. 

“Action” has the meaning set forth in Section 2.1. 

“Affiliate” means, with respect to any Person, a Person that, directly or indirectly, through one or more
intermediaries, controls, is controlled by, or is under common control with the specified Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlled by” and “under
common control with”) as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting
securities, by agreement or otherwise. 
 “Agreement” has the meaning set forth in the introductory paragraph
hereto. 
 “Assignments” has the meaning set forth in Section 5.3(a). 

“Business Day” means any day that is not a Saturday, Sunday or legal holiday in the State of Oklahoma and the State of
New York. 
 “Closing” or “Closing Date” has the meaning set forth in
Section 5.2. 
 “Closing Consideration” has the meaning set forth in Section 1.2. 

  
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 “Commission” has the meaning set forth in Section 2.8. 

“Common Units” means common units representing limited partner interests of Mammoth. 

“Consent” means any consent, order, waiver, approval or authorization of, or registration, qualification, designation,
declaration or filing with, any Person or Governmental Body or under any applicable Laws. 
 “Contract” has the
meaning set forth in Section 2.3. 
 “Contributor” has the meaning set forth in the introductory
paragraph hereto. 
 “Damages” means all losses (including diminution in value), damages and other costs and
expenses of any kind or nature whatsoever, whether known or unknown, contingent or vested, matured or unmatured, and whether or not resulting from third-party claims, including costs (including reasonable fees and expenses of attorneys, other
professional advisors and expert witnesses and the allocable portion of the relevant person’s internal costs) of investigation, preparation and litigation in connection with any Action or threatened Action. 

“Effective Date” has the meaning set forth in the introductory paragraph hereto. 

“Enforceability Exception” has the meaning set forth in Section 2.2. 

“Equity Interest” means (a) with respect to a corporation, any and all shares of capital stock and any Equity
Rights with respect thereto, (b) with respect to a partnership, limited liability company, trust, or similar Person, any and all units, interests or other partnership/limited liability company interests, and any Equity Rights with respect
thereto, and (c) any other direct or indirect equity ownership or participation in a Person. 
 “Equity Rights”
has the meaning set forth in Section 2.5. 
 “Form S-1” has the meaning set forth in
Section 2.8. 
 “GAAP” has the meaning set forth in Section 2.8. 

“Governmental Body” has the meaning set forth in Section 2.3. 

“Gulfport” means Gulfport Energy Corporation, a Delaware corporation. 

“Gulfport Contribution” means the transaction pursuant to which Gulfport contributes all of its Equity Interests in
Stingray Pressure Pumping LLC, Stingray Logistics LLC, Muskie and Bison Drilling & Field Services LLC to Mammoth in return for Common Units. 

“Holdings” means Mammoth Energy Holdings LLC, a Delaware limited liability company. 

“Holdings Contribution” means the transaction pursuant to which Holdings contributes the following to Mammoth in
return for Common Units: (i) all of the Equity Interests in Redback 

  
 -15- 

 
Energy Services LLC, Redback Coil Tubing LLC, Panther Drilling Systems LLC, Great White Dunvegan SARL (or its successor), Dunvegan North Oilfield Services, ULC and Great White Sand Tiger Lodging
Ltd. and (ii) all Equity Interests in the following entities other than those constituting the Interests and the Equity Interests subject to the Gulfport Contribution: Stingray Pressure Pumping LLC, Stingray Logistics LLC, Muskie and Bison
Drilling & Field Services LLC. 
 “Holdings Registration Rights Agreement” means the registration rights
agreement by and among Holdings, Mammoth and Mammoth Energy Partners GP LLC to be dated as of the date of the Rhino Registration Rights Agreement and the Investor Rights Agreement. 

“Indemnification Claim” has the meaning set forth in Section 7.2(a). 

“Indemnified Party” has the meaning set forth in Section 7.2(a). 

“Indemnitor” has the meaning set forth in Section 7.2(a). 

“Interests” have the meaning set forth in the Recitals. 

“Investor Rights Agreement” means the investor rights agreement by and among Gulfport, Mammoth, Holdings and Mammoth
Energy Partners GP LLC. 
 “IPO” means the underwritten initial public offering of Mammoth in which it will issue
Common Units pursuant to the Form S-1. 
 “IPO Price” means the price
per Common Unit in the IPO, as set forth on the cover page of the final Prospectus relating to the IPO. 
 “Law” has
the meaning set forth in Section 2.3. 
 “Lien” means all pledges, claims, liens, charges, restrictions,
controls, easements, rights of way, exceptions, reservations, leases, licenses, grants, covenants and conditions, encumbrances and security interests of any kind or nature whatsoever. 

“Mammoth” has the meaning set forth in the introductory paragraph hereto. 

“Muskie” has the meaning set forth in the Recitals. 

“Order” has the meaning set forth in Section 2.3. 

“Organizational Documents” means with respect to any entity, the certificate of formation, limited liability company
agreement or operating agreement, participating agreements, certificate of incorporation, bylaws, certificate of limited partnership, limited partnership agreement and any other governing instrument, as applicable. 

“Party” or “Parties” has the meaning set forth in the introductory paragraph hereto. 

“Permit” has the meaning set forth in Section 2.3. 

  
 -16- 

 “Person” means an individual, corporation, partnership, limited liability
company, joint venture, association, trust, unincorporated organization or other entity. 
 “Prospectus” means
Mammoth’s final prospectus as filed pursuant to Rule 424 under the Securities Act with the Commission. 
 “Rhino
Contribution” means the Contributor’s contribution of the Interests to Mammoth in return for Common Units pursuant to this Agreement. 

“Rhino Registration Rights Agreement” has the meaning set forth in Section 5.3(c). 

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

“Subsidiary” means any corporation, partnership, limited liability company, joint venture, trust or other legal entity
which the applicable Person owns (either directly or through or together with another Subsidiary) either (i) a general partner, managing member or other similar interest or (ii) (A) more than 50% of the equity interests or
(B) more than 50% of the outstanding voting capital stock or other voting equity interests of such corporation, partnership, limited liability company, joint venture or other legal entity. 

“Taxes” means all applicable U.S. federal, state, local and foreign income, withholding, property, sales, franchise,
employment, transfer, excise and other taxes, tariffs or governmental charges of any nature whatsoever, including estimated taxes, together with penalties, interest or additions to taxes with respect thereto. 

“Termination Date” has the meaning set forth in Section 6.2. 

“Transaction Documents” has the meaning set forth in Section 2.2. 

“Transactions” has the meaning set forth in Section 2.2. 

“Underwriting Agreement” means that certain underwriting agreement to be entered into in connection with the IPO by
and among Mammoth and the underwriters in the IPO and, if applicable, the selling unitholders, which may include the Contributor. 

“Wexford” means Wexford Capital LP. 

8.2 Entire Agreement. This Agreement, together with the other Transaction Documents and all schedules, exhibits, annexes or other
attachments hereto or thereto, and the certificates, documents, instruments and writings that are delivered pursuant hereto or thereto, constitutes the entire agreement and understanding of the Parties in respect of the subject matter hereof and
supersedes all prior understandings, agreements or representations by or among the Parties, written or oral, to the extent they relate in any way to the subject matter hereof. Except as provided in Article 7, there are no third party
beneficiaries having rights under or with respect to this Agreement. 
 8.3 Assignment; Binding Effect. No Party may assign either
this Agreement or any of its rights, interests or obligations hereunder without the prior written approval of the other 

  
 -17- 

 
Party, and any such assignment by a Party without prior written approval of the other Party will be deemed invalid and not binding on such other Party. All of the terms, agreements, covenants,
representations, warranties and conditions of this Agreement are binding upon, inure to the benefit of and are enforceable by, the Parties and their respective successors and permitted assigns. 

8.4 Notices. All notices, requests and other communications provided for or permitted to be given under this Agreement must be in
writing and must be given by personal delivery, by certified or registered United States mail (postage prepaid, return receipt requested), by a nationally recognized overnight delivery service for next day delivery, or by facsimile transmission, to
the intended recipient at the address set forth for the recipient on the signature page (or to such other address as any Party may give in a notice given in accordance with the provisions hereof). All notices, requests or other communications will
be effective and deemed given only as follows: (i) if given by personal delivery, upon such personal delivery, (ii) if sent by certified or registered mail, on the fifth Business Day after being deposited in the United States mail,
(iii) if sent for next day delivery by overnight delivery service, on the date of delivery as confirmed by written confirmation of delivery, or (iv) if sent by facsimile, upon the transmitter’s confirmation of receipt of such
facsimile transmission, except that if such confirmation is received after 5:00 p.m. (in the recipient’s time zone) on a Business Day, or is received on a day that is not a Business Day, then such notice, request or communication will not be
deemed effective or given until the next succeeding Business Day. Notices, requests and other communications sent in any other manner, including by electronic mail, will not be effective. 

8.5 Specific Performance; Remedies. Each Party acknowledges and agrees that the other Party would be damaged irreparably if any
provision of this Agreement were not performed in accordance with its specific terms or were otherwise breached. Accordingly, the Parties will be entitled to an injunction or injunctions to prevent breaches of the provisions of this Agreement and to
enforce specifically this Agreement and its provisions in any action or proceeding instituted in any state or federal court sitting in Oklahoma City, Oklahoma having jurisdiction over the Parties and the matter, in addition to any other remedy to
which they may be entitled, at law or in equity. Except as expressly provided herein, the rights, obligations and remedies created by this Agreement are cumulative and in addition to any other rights, obligations or remedies otherwise available at
law or in equity. Nothing herein will be considered an election of remedies. 
 8.6 Headings. The article and section headings
contained in this Agreement are inserted for convenience only and will not affect in any way the meaning or interpretation of this Agreement. 

8.7 Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of Delaware, without
giving effect to any choice of law principles. 
 8.8 Amendment; Extensions; Waivers. No amendment, modification, replacement,
termination or cancellation of any provision of this Agreement will be valid, unless the same is in writing, makes reference to this Agreement and the provision(s) to be amended, modified, replaced, terminated or canceled and is signed by
Contributor and Mammoth. Each waiver of a 

  
 -18- 

 
right hereunder does not extend beyond the specific event or circumstance giving rise to the right. No waiver by any Party of any default, misrepresentation or breach of warranty or covenant
hereunder, whether intentional or not, may be deemed to extend to any prior or subsequent default, misrepresentation or breach of warranty or covenant hereunder or affect in any way any rights arising because of any prior or subsequent such
occurrence. Neither the failure nor any delay on the part of any Party to exercise any right or remedy under this Agreement will operate as a waiver thereof, nor does any single or partial exercise of any right or remedy preclude any other or
further exercise of the same or of any other right or remedy. 
 8.9 Severability. The provisions of this Agreement will be deemed
severable and the invalidity or unenforceability of any provision will not affect the validity or enforceability of the other provisions hereof. 

8.10 Expenses. Except as otherwise expressly provided in this Agreement, each Party will bear its own costs and expenses incurred in
connection with the preparation, execution and performance of this Agreement and the Transactions, including all fees and expenses of agents, representatives, financial advisors, legal counsel and accountants. Contributor shall have no liability or
responsibilities for any costs or expenses incurred in connection with the preparation, execution and performance of the transactions contemplated by the Holdings Contribution and the Gulfport Contribution, including all fees and expenses of agents,
representatives, financial advisors, legal counsel and accountants. All fees and expenses incurred in connection with the IPO, including, without limitation, the preparation and filings of the Form S-1 shall be borne solely and entirely by Mammoth
with the exception of any underwriter discounts incurred in connection with any sale of Common Units by Contributor in the IPO which such discounts and commissions shall borne by the Contributor. 

8.11 Counterparts; Effectiveness. This Agreement may be executed in one or more counterparts, each of which will be deemed an original
but all of which together will constitute one and the same instrument. This Agreement will become effective when one or more counterparts have been signed by each Party and delivered to the other Party. 

8.12 Construction. This Agreement has been freely and fairly negotiated among the Parties. If an ambiguity or question of intent or
interpretation arises, this Agreement will be construed as if drafted jointly by the Parties and no presumption or burden of proof will arise favoring or disfavoring any Party because of the authorship of any provision of this Agreement. 

[SIGNATURE PAGE FOLLOWS] 

  
 -19- 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed as of the date
stated in the introductory paragraph of this Agreement.  
  

			
	CONTRIBUTOR:
	
	RHINO RESOURCE PARTNERS LP
	
	 By: RHINO GP LLC,
 its General
Partner

		
	By:	 	 
	Name:	 	
	Title:	 	
	
	Address for Notices:
	 
	 
	Fax:	 	 

  
 -20- 

 
			
	MAMMOTH:
	
	MAMMOTH ENERGY PARTNERS LP
	
	 By: MAMMOTH ENERGY PARTNERS GP LLC,

its general partner

		
	By:	 	 
	Name:	 	 
	Title:	 	 
	
	 Address for Notices:
 Mammoth
Energy Partners LP
 4727 Gaillardia Parkway, Suite 200

Oklahoma City, OK 73142
 Fax: (405) 242-4203

  
 -21- 

 EXHIBIT A 

Form of Assignment 

[attached] 

  
 -22- 

 ASSIGNMENT OF LIMITED LIABILITY COMPANY INTERESTS 

This ASSIGNMENT OF LIMITED LIABILITY COMPANY INTERESTS (this “Assignment”), dated as of ____________, 2014 (the
“Effective Date”), is between Rhino Resource Partners LP, a Delaware limited partnership (the “Transferor”), and Mammoth Energy Partners LP, a Delaware limited partnership (the
“Transferee”). The Transferor and the Transferee are hereinafter sometimes referred to individually as a “Party” and together as the “Parties.” Capitalized terms used but not
defined herein have the meanings ascribed to such terms in the Contribution Agreement (as defined below). 
 RECITALS 

WHEREAS, the Transferor owns a 5.8732% preferred interest and a 5.87% common interest in Muskie Proppant LLC, in each case
subject to adjustment in accordance with the terms of the limited liability company agreement (the “Interests”); and 

WHEREAS, pursuant to the terms of the Contribution Agreement dated as of the date hereof (the “Contribution
Agreement”), between the Transferor and the Transferee, the Transferor has agreed to assign, transfer, convey, contribute and deliver the Interests to the Transferee and to effectuate the transactions contemplated hereby. 

NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties hereto promise and agree as follows: 
 1. Assignment of the
Interests. The Transferor hereby assigns, transfers, conveys, contributes and delivers to the Transferee, and its successors and assigns, all of the Transferor’s right, title and interest in, to and under the Interests, free and clear of
all Liens other than those arising under federal and state securities Laws. 
 2. Effectiveness of Assignment. The assignment,
transfer, conveyance, contribution and delivery of the Interests shall be effective on the Effective Date. 
 3. Further Assurances.
Each Party hereby agrees that from time to time after delivery of this Assignment such Party shall do, execute, acknowledge and deliver or shall cause to be done, executed, acknowledged and delivered such further transfers, assignments, conveyances
and assurances as may be reasonably requested by the other Party in order to effect the full assignment and transfer of the Interests. 
 4.
Governing Law. This Assignment shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to any choice of law principles. 

5. Counterparts; Facsimile. This Assignment may be executed and delivered in counterparts, both of which will be deemed an original,
and which together will constitute but one and the same instrument. Signatures of the Parties transmitted by facsimile, by electronic 

 
mail in “portable document format” (“.pdf”) form or other electronic transmission shall be deemed to be their original signatures for all purposes. 

[Signature Page Follows] 

  
 2 

 IN WITNESS WHEREOF, the parties have caused this Assignment to be duly executed as of the date
first written above. 
  

			
	TRANSFEROR:
	
	RHINO RESOURCE PARTNERS LP
	
	 By: RHINO GP LLC,
 its General
Partner

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  

			
	TRANSFEREE:
	
	MAMMOTH ENERGY PARTNERS LP
	
	 By: MAMMOTH ENERGY PARTNERS GP LLC,

its General Partner

		
	By:	 	 
	Name:	 	 
	Title:	 	 

  
 3 

 EXHIBIT B 

Form of Registration Rights Agreement 

[attached] 

  
 4EX-10.33

 Exhibit 10.33 

LIMITED LOAN GUARANTY AGREEMENT 

THIS GUARANTY AGREEMENT (this “Guaranty”) is to be made effective the 31st day of January, 2014, by the undersigned
(“Guarantor”), to and for the benefit of INTERNATIONAL BANK OF COMMERCE, whose address is 3817 N.W. Expressway, Suite 100, Oklahoma City, Oklahoma 73112 (“Lender”). 

WHEREAS, on or about May 31, 2013, BISON DRILLING AND FIELD SERVICES LLC (“Borrower’’) and Lender entered
into that certain Loan and Security Agreement (the “Loan Agreement”) pursuant to which Borrower executed and delivered to Lender two promissory notes, as follows (1) that certain Revolving Line of Credit Promissory Note in the
face amount of $5,000,000, with a maturity date of June 1, 2014 (“Revolving Note”); and (2) that certain Promissory Note in the face amount of $30,000,000, with a maturity date of April 1, 2017 (the “Term
Note”) (the Revolving Note and Term Note are collectively referred to as the “Notes”); 
 WHEREAS,
simultaneously with the execution of this Guaranty, the Lender has agreed to modify the Loan Agreement and increase the amount of the Term Note by an additional TWENTY-FIVE MILLION and 00/100 DOLLARS
($25,000,000) (the “Loan”), which is evidenced by certain loan modification documents including, without limitation, a certain Amended and Restated Promissory Note of even date herewith in the principal amount not of
FIFTY-ONE MILLION EIGHT HUNDRED SIXTY-THREE THOUSAND TWO HUNDRED EIGHTY-FOUR and 12/100 Dollars ($51,863,284.12), executed by the Borrower in favor of the Lender (referred to herein as the “Amended Term Note”), payment of
which Amended Term Note is secured by certain collateral documents including the Loan Agreement and the Limited Guaranties. The Amended Term Note, Revolving Note, Limited Guaranties, and Loan Agreement are sometimes collectively referred to herein
as the “Loan Documents”; and 
 WHEREAS, Guarantor acknowledges that Guarantor will receive direct and indirect
benefits from the Lender making the Loan to Borrower and Guarantor is willing to guarantee the Borrower’s obligation to the Lender on the terms and conditions contained in said Loan Documents; and 

WHEREAS, Guarantor’s execution and delivery of this Guaranty is one of the conditions precedent to the Lender making the Loans to
the Borrower. Capitalized terms used and not otherwise defined herein shall have the meanings given to them in the Loan Agreement. 

NOW, THEREFORE, intending to be legally bound and to satisfy a condition precedent to make the Loan, Guarantor, for other good and
valuable consideration the receipt and sufficiency of which are acknowledged, hereby covenants and agrees for the benefit of Lender and its successors, indorsees, transferees, permitted participants and permitted assigns as follows: 

1. Guarantor absolutely, unconditionally and irrevocably guarantees: (a) the full and prompt payment of the Loan, the principal of and
interest on the Loans when due, whether at stated maturity, upon acceleration or otherwise, and at all times thereafter, and the full and prompt payment of all sums which may now be or may hereafter become due and owing by Borrower to Lender under
the Loan Documents; (b) the prompt, full and complete performance of all of Borrower’s obligations under each and every covenant contained in the Loan 
  

			
	IBC / BISON DRILLING	  	
	 LOAN GUARANTY – LAMBDA INVESTORS LLC II EXECUTION VERSION
	  	 Page 
 1

 
Documents related to the Loan; (c) the full and prompt payment of any Enforcement Costs (as hereinafter provided); and (d) all other sums owing by Borrower to Lender. All amounts due,
debts, liabilities and obligations heretofore described shall be hereinafter collectively referred to as the “Obligations.” Notwithstanding the foregoing, the maximum total liability for all Guarantors, in the aggregate, whether
under this Guaranty or otherwise in connection with the other Loan Documents, is limited to Twenty-Five Million Dollars ($25,000,000) plus Enforcement Costs, if any (the “Limitation”). This Guaranty shall always cover the
“last” dollars of the Note at any time outstanding during the period this Guaranty remains in effect. Any payment by any Guarantor in respect of this Guaranty shall count towards the Limitation, and the Limitation shall apply in the
aggregate to all Guarantors. As a result of the limited nature of this Guaranty and the aggregate nature of the Limitation, any payment by a Guarantor shall result in decreased liability hereunder for each other Guarantor. Lender’s sole
recourse against Guarantor in respect of the Obligations shall be under this Guaranty, and Lender shall have no recourse against Guarantor for amounts in excess of the Limitation. This Guaranty will automatically terminate and the obligations
hereunder shall be released upon such time as the principal amount owing under the Amended Term Note shall be Thirty Million Dollars ($30,000,000) or less. 

2. In the event of the existence of any Event of Default by Borrower in the payment of the Obligations, Guarantor agrees, within ten
(10) business days after demand by Lender, to pay the Obligations to the extent of this Guaranty, regardless of any defense (other than the defense of payment), right of set-off or claims which Borrower or Guarantor may have against Lender. All
of the remedies set forth herein and/or provided for in any of the Loan Documents or at law or equity shall be equally available to Lender, and the choice by Lender of one such alternative over another shall not be subject to question or challenge
by Guarantor or any other person. 
 3. Guarantor does hereby, to the extent permitted by applicable law, (a) waive notice of acceptance
of this Guaranty by Lender and, except as otherwise expressly provided in any Loan Document, any and all notices and demands of every kind which may be required to be given by any statute, rule or law; (b) agree to refrain from asserting, until
after repayment in full of the Loan, any defense, right of set-off or other claim which Guarantor may have against Borrower, (c) waive any defense (other than the defense of payment and other than the Limitation), right of set-off or other
claim which Guarantor or Borrower may have against Lender, or the holder of the Loan, (d) waive any and all rights Guarantor may have under any anti-deficiency statute or other similar protections; (e) waive, except as otherwise expressly
provided in any Loan Document, presentment for payment, demand for payment, notice of nonpayment or dishonor, protest and notice of protest, diligence in collection and any and all formalities which otherwise might be legally required to charge
Guarantor with liability; and (f) waive any failure by Lender to inform Guarantor of any facts Lender may now or hereafter know about Borrower, the Collateral, the Loan, or the transactions contemplated by the Loan Documents, it being
understood and agreed that Lender has no duty so to inform and that Guarantor is fully responsible for being and remaining informed by Borrower of all circumstances bearing on the risk of nonperformance of Borrower’s obligations. Credit may be
granted or continued from time to time by Lender to Borrower without notice to or authorization from Guarantor, regardless of the financial or other condition of Borrower at the time of any such grant or continuation. Lender shall have no obligation
to disclose or discuss with Guarantor 

  

					
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its assessment of the financial condition of Borrower. Guarantor acknowledges that no representations of any kind whatsoever have been made by Lender. No modification or waiver of any of the
provisions of this Guaranty shall be binding upon Lender except as expressly set forth in a writing duly signed and delivered by or on behalf of Lender. 

4. Guarantor further agrees that Guarantor’s liability as guarantor shall not in any way be impaired or affected by any renewals or
extensions which may be made from time to time, with or without the knowledge or consent of Guarantor of the time for payment of interest or principal under the Loan or by any forbearance or delay in collecting interest or principal under the Loans,
or by any waiver by Lender under the Loan Documents, or by Lender’s failure or election not to pursue any other remedies it may have against Borrower or Guarantor, or by any change or modification in the Loan Documents, or by the acceptance by
Lender of any additional security or any increase, substitution or change therein, or by the release by Lender of any security or any withdrawal thereof or decrease therein, or by the application of payments received from any source to the payment
of any obligation other than the Obligations even though Lender might lawfully have elected to apply such payments to any part or all of the Obligations, it being the intent hereof that Guarantor shall remain liable for the payment of the
Obligations, until the Obligations have been paid in full, notwithstanding any act or thing which might otherwise operate as a legal or equitable discharge of a surety. Guarantor specifically waives any and all suretyship type defenses. Guarantor
further understands and agrees that Lender may at any time enter into agreements with Borrower to amend and modify the Loan Documents, and may waive or release any provision or provisions of the Loan Documents and, with reference to such
instruments, may make and enter into any such agreement or agreements as Lender and Borrower may deem proper and desirable, without in any manner impairing or affecting this Guaranty or any of Lender’s rights hereunder or Guarantor’s
obligations hereunder. 
 5. This is an absolute, present and continuing guaranty of payment and not of collection. Guarantor agrees that
this Guaranty may be enforced by Lender without the necessity at any time of resorting to or exhausting any other security or collateral given in connection herewith or with the Loan Documents through foreclosure or sale proceedings, as the case may
be, under the Security Agreements or otherwise, or resorting to any other guaranties, and Guarantor hereby waives any right to require Lender to join Borrower in any action brought hereunder or to commence any action against or obtain any judgment
against Borrower or to pursue any other remedy or enforce any other right. Guarantor further agrees that nothing contained herein or otherwise shall prevent Lender from pursuing concurrently or successively all rights and remedies available to it at
law and/or in equity or under the Loan Documents, and the exercise of any of its rights or the completion of any of its remedies shall not constitute a discharge of Guarantor’s obligations hereunder (except to the extent of payment in full of
the Obligations and all applicable Enforcement Costs as a result thereof), it being the purpose and intent of Guarantor that the obligations of Guarantor hereunder shall be absolute, independent and unconditional under any and all circumstances
whatsoever. None of Guarantor’s obligations under this Guaranty or any remedy for the enforcement thereof shall be impaired, modified, changed or released in any manner whatsoever by any impairment, modification, change, release or limitation
of the liability of Borrower under the Loan Documents or by reason of the bankruptcy of Borrower or by reason of any creditor or bankruptcy proceeding instituted by or against Borrower. This Guaranty shall continue to be effective or be reinstated
(as the case may be) if at any time payment of all or any part of any sum payable pursuant to the Loan Documents 

  

					
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is rescinded or otherwise required to be returned by Lender upon the insolvency, bankruptcy, dissolution, liquidation, or reorganization of Borrower, or upon or as a result of the appointment of
a receiver, intervenor, custodian or conservator of or trustee or similar officer for, Borrower or any substantial part of its property, or otherwise, all as though such payment to Lender had not been made, regardless of whether Lender contested the
order requiring the return of such payment. In the event of a deficiency, Guarantor hereby promises and agrees forthwith to pay the amount of such deficiency notwithstanding the fact that recovery of said deficiency against Borrower would not be
allowed by applicable law; however, the foregoing shall not be deemed to require that Lender institute foreclosure proceedings or otherwise resort to or exhaust any other collateral or security prior to or concurrently with enforcing this Guaranty.
If the Lender elects to foreclose any lien created by the Loan Documents, the Lender is authorized to purchase for the respective accounts of the Lender all or any part of the collateral covered by such lien at public or private sale and to credit
the actual amount recovered first against that portion of the obligations for which the Guarantor is not liable with any balance remaining to be applied in reduction of the liability of the Guarantor hereunder. 

6. If: (a) this Guaranty is placed in the hands of an attorney for collection or is collected through any legal proceeding; or (b) an
attorney is retained to represent Lender in any proceedings whatsoever in connection with this Guaranty and Lender prevails in any such proceedings, then Guarantor shall pay to Lender within five (5) business days after demand all reasonable out-of-pocket attorneys’ fees, paralegals’ fees, court costs, filing fees and other costs and expenses incurred in connection therewith (all of which are referred to herein as “Enforcement
Costs”), in addition to all other amounts due hereunder. 
 7. The parties hereto intend and believe that each provision in this
Guaranty comports with all applicable local, state and federal laws and judicial decisions. However, if any provision or provisions, or if any portion of any provision or provisions, in this Guaranty is found by a court of law to be in violation of
any applicable local, state or federal ordinance, statute, law, administrative or judicial decision, or public policy, and if such court should declare such portion, provision or provisions of this Guaranty to be illegal, invalid, unlawful, void or
unenforceable as written, then it is the intent of all parties hereto that such portion, provision or provisions shall be given force to the fullest possible extent that they are legal, valid and enforceable, that the remainder of this Guaranty
shall be construed as if such illegal, invalid, unlawful, void or unenforceable portion, provision or provisions were not contained therein, and that the rights, obligations and interest of Lender or the holder of the Note(s) under the remainder of
this Guaranty shall continue in full force and effect. 
 8. TO THE GREATEST EXTENT PERMITTED BY LAW, GUARANTOR HEREBY WAIVES ANY AND ALL
RIGHTS TO REQUIRE MARSHALING OF ASSETS BY LENDER. WITH RESPECT TO ANY SUIT, ACTION OR PROCEEDINGS RELATING TO THIS GUARANTY (EACH A “PROCEEDING”), LENDER AND GUARANTOR IRREVOCABLY (A) SUBMIT TO THE NON-EXCLUSIVE JURISDICTION OF THE
STATE AND FEDERAL COURTS HAVING JURISDICTION IN THE CITY OF OKLAHOMA CITY AND STATE OF OKLAHOMA, AND (B) WAIVE ANY OBJECTION WHICH ANY OF THEM MAY HAVE AT ANY TIME TO THE LAYING OF VENUE OF ANY PROCEEDING BROUGHT IN ANY SUCH COURT, WAIVE ANY
CLAIM THAT ANY PROCEEDING HAS BEEN BROUGHT IN AN INCONVENIENT FORUM AND FURTHER WAIVE THE RIGHT 

  

					
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TO OBJECT, WITH RESPECT TO SUCH PROCEEDING, THAT SUCH COURT DOES NOT HAVE JURISDICTION OVER SUCH PARTY. NOTHING IN THIS GUARANTY SHALL PRECLUDE LENDER FROM BRINGING A PROCEEDING IN ANY OTHER
JURISDICTION NOR WILL THE BRINGING OF A PROCEEDING IN ANY ONE OR MORE JURISDICTIONS PRECLUDE THE BRINGING OF A PROCEEDING IN ANY OTHER JURISDICTION. LENDER AND GUARANTOR FURTHER AGREE AND CONSENT THAT, IN ADDITION TO ANY METHODS OF SERVICE OF
PROCESS PROVIDED FOR UNDER APPLICABLE LAW, ALL SERVICE OF PROCESS IN ANY PROCEEDING IN ANY OKLAHOMA STATE OR UNITED STATES COURT SITTING IN THE CITY OF OKLAHOMA CITY MAY BE MADE BY CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED, DIRECTED TO
THE APPLICABLE PARTY AT THE ADDRESS INDICATED BELOW, AND SERVICE SO MADE SHALL BE COMPLETE UPON RECEIPT; EXCEPT THAT IF SUCH PARTY SHALL REFUSE TO ACCEPT DELIVERY, SERVICE SHALL BE DEEMED COMPLETE FIVE (5) DAYS AFTER THE SAME SHALL HAVE BEEN SO
MAILED. 
 9. Any Obligations of Borrower to Guarantor now or hereafter existing is hereby subordinated to the Obligations. Guarantor agrees
that, until the entire Obligations have been paid in full, Guarantor will not seek, accept, or retain for its own account, any payment from Borrower on account of such subordinated debt. Any payments to Guarantor on account of such subordinated debt
shall be collected and received by Guarantor in trust for Lender and shall be paid over to Lender on account of the Obligations without impairing or releasing the obligations of Guarantor hereunder. 

10. Any amounts received by Lender from any source on account of the Loans may be utilized by Lender for the payment of the Obligations and any
other indebtedness of Borrower to Lender in respect of the Loans in such order as Lender may from time to time elect. 
 11. GUARANTOR AND
LENDER (BY THEIR ACCEPTANCE HEREOF) HEREBY WAIVE ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHT UNDER THIS GUARANTY OR ANY OTHER LOAN DOCUMENT OR RELATING THERETO OR ARISING FROM THE LENDING RELATIONSHIP
WHICH IS THE SUBJECT OF THIS GUARANTY AND AGREE THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY. 

12. Any notices or other communications required or permitted to be given by this Guaranty must be (i) given in writing, and
(ii) personally delivered or mailed by prepaid mail or overnight courier, to the address of such party as provided herein. Any such notice or other communication shall be deemed to have been given (whether actually received or not) on the day
three days after it is mailed by prepaid certified or registered mail, one day after sent by over night courier, or on the day it is personally delivered as aforesaid, and otherwise when actually received. Any party may, for purposes of the Loan
Documents, change its address or the person to whom a notice or other communication is marked to the attention of, by giving notice of such change to the other parties pursuant hereto. 

  

					
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 13. Guarantor makes the following representations and warranties to Lender: (a) any and all
financial statements and other information with respect to Guarantor which have heretofore been given to Lender by or on behalf of Guarantor fairly and accurately present in all material respects the financial condition of Guarantor as of the
respective dates thereof and there has been no change that would result in a material adverse effect with respect to Guarantor since the date of the latest statement delivered to Lender; (b) the execution, delivery, and performance by Guarantor
of this Guaranty does not and will not contravene or conflict with (i) any applicable laws, order, rule, regulation, writ, injunction or decree now in effect of any government authority, or court having jurisdiction over Guarantor, or
(ii) any contractual restriction binding on or affecting Guarantor or Guarantor’s property or assets which may adversely affect Guarantor’s ability to fulfill its obligations under this Guaranty; (c) this Guaranty creates legal,
valid, and binding obligations of Guarantor enforceable in accordance with its terms; (d) there is no action, proceeding, or investigation pending or, to the knowledge of Guarantor, threatened or affecting Guarantor, which may adversely affect
Guarantor’s ability to fulfill its obligations under this Guaranty; (e) there are no judgments or orders for the payment of money rendered against Guarantor for any material amount which have been undischarged for a period of ten (10)
or more consecutive days and the enforcement of which is not stayed by reason of a pending appeal or otherwise; and (f) Guarantor is not in default under any agreements to which Guarantor is a party which may adversely affect Guarantor’s
ability to fulfill its obligations under this Guaranty. All of the foregoing representations and warranties shall be deemed remade on the date of the first disbursement of loan proceeds and on the date of each advance of loan proceeds. Guarantor
hereby agrees to indemnify and hold Lender free and harmless from and against all loss, liability, damage, and reasonable out-of-pocket costs and expenses, including reasonable out-of-pocket attorneys’
fees and costs, which Lender sustains by reason of the inaccuracy or breach of any of the foregoing representations and warranties as of the date the foregoing representations and warranties are made and are remade. 

14. Lender has made or may in the future make certain loans and financial accommodations to Borrower as evidenced, in part, by the Loan
Documents. Lender would not have entered into such loans evidenced by the Loan Documents without Guarantor executing and delivering this Guaranty to further secure the payment and performance of the Obligations. As a material inducement for Lender
to enter into the Loan Documents, Lender has relied on the financial condition of Guarantor as represented to Lender by Guarantor pursuant to Financial Statements delivered to Lender by Guarantor. The term ‘‘Financial Statements”
includes any financial statements heretofore delivered to Lender and all financial statements delivered to Lender in the future. Guarantor represents and warrants to Lender that since the date of the Financial Statements, no material adverse change
has occurred in the financial condition of Guarantor. Guarantor further represents and warrants to Lender that the Financial Statements accurately depict the true and correct ownership of all assets set forth therein and that such assets are owned
in their entirety by Guarantor in Guarantor’s individual capacity, unless conspicuously denoted otherwise on the Financial Statements. Further, the Financial Statements conspicuously denote all assets of Guarantor that are Exempt Property (as
hereinafter defined). Exempt Property shall include, without limitation, any asset that pursuant to applicable law is exempt from garnishment, attachment, execution or other seizure by Lender, by way of example and not limitation, such items of
property, College Savings Plans, Homestead, certain exempt savings plans and burial lots, each as set forth in Section 1 of Title 31 of Oklahoma Statutes. Unless otherwise conspicuously denoted, Guarantor represents that all assets set forth on
the 

  

					
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Financial Statements are Non-Exempt Property. The term “Non-Exempt Property” shall mean all assets of Guarantor that are not specifically and conspicuously denoted on the Financial
Statements as Exempt Property. Guarantor represents and warrants that during the term of this Guaranty that it will not convert (by transfer, conveyance, assignment or otherwise) any of its assets from Non-Exempt Property to Exempt Property without
the prior written consent of Lender, which may be granted or withheld in Lender’s sole discretion. Further, without limitation, Guarantor shall not transfer (by assignment, conveyance or otherwise) (i) Non-Exempt Property having a
cumulative value in excess of five percent (5%) of the value of all Non-Exempt Property as set forth on the Financial Statements delivered to Lender prior to or contemporaneously herewith), or (ii) Exempt Property having a cumulative value
in excess of twenty percent (20%) of the value of all Exempt Property as set forth on the Financial Statements delivered to Lender prior to or contemporaneously herewith), to one or more entities in which Guarantor controls or owns, directly or
indirectly, an equity interest (including, without limitation, to one or more so-called family limited partnerships, irrespective if the same is for estate planning purposes or otherwise) without the prior written consent of Lender, which may be
granted or withheld in Lender’s sole discretion. Any conversion or transfer in violation of the provisions of this Section 14 shall, automatically and without notice of any kind from Lender, constitute an Event of Default hereunder
and under the Loan Documents, and Guarantor shall, upon Lender’s written demand, (without limiting in any way Lender’s remedies under this Guaranty or the Loan Documents) immediately take all necessary steps to reverse any such conversion
or transfer to the extent required by Lender. 
 15. As an express condition of extending the Loan to Borrower, Guarantor covenants and
agrees with Lender that until such time that all Obligations have been paid in full or this Guaranty has automatically terminated under the provisions of Section 1 above: 

(a) Guarantor shall: 

(i) Minimum Cash. At all times maintain Minimum Cash in an amount equal to or greater than Twenty Million Dollars
($20,000,000). For purposes of this Guaranty, Minimum Cash shall be calculated by adding the total value of all cash account balances plus the value of all stock of Diamondback Energy, Inc. (NASDAQ: FANG) owned by Guarantor. The Minimum Cash shall
be calculated and tested quarterly as of the last day of each quarter and shall be based on the amounts reflected Guarantor’s balance sheet. The value of the FANG stock shall be the lesser of Guarantor’s cost basis of such stock or the
market value of such stock as determined on the date of calculation. 
 (ii) Minimum Tangible Net Worth. At all times
maintain Minimum Tangible Net Worth of at least ONE HUNDRED FIFTY MILLION and 00/100 DOLLARS ($150,000,000). As used herein, the term “Minimum Tangible Net Worth” shall mean the Total Assets less the Total Liabilities. As used herein Total
Assets means: the sum of current assets, property and equipment and other assets, as listed on Borrower’s balance sheet, less Intangible Assets. As used herein Intangible Assets means: goodwill, intellectual property, patents, copyrights, and
trademarks. As used herein Total Liabilities means the sum of current liabilities, long term debt, guaranties, contingencies and other miscellaneous liabilities. 

  

					
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 (iii) Annual Financial Statements. As soon as available, and in any event
within one hundred twenty (120) days after Guarantor’s fiscal year ending in year 2013 and within one hundred twenty (120) days after the end of each of Guarantor’s fiscal years thereafter, a copy of the annual audited financial
statements of Guarantor for such fiscal year containing, balance sheets, statements of income, statements of members’ capital and statements of cash flows as at the end of such fiscal year and for the 12 month period then ended, in each case
setting forth in comparative form the figures for the preceding fiscal year, all in reasonable detail, prepared in accordance with GAAP, and audited and Certified without qualification by independent certified public accountants of recognized
standing acceptable to Lender. Should Guarantor’s audit not be completed in time to comply with the deadlines set forth herein, as long as Guarantor is diligently pursuing a final audit there shall be no violation of this Section and the
audited financial statements shall be delivered within three (3) business days of completion. 
 (iv) Quarterly
Statements. As soon as available, and in any event within forty-five (45) days after the end of each fiscal quarter provide complete financial statements (including balance sheet and statements of earnings) of Guarantor, all in form and
scope acceptable to Lender. 
 (b) Guarantor shall not, directly or indirectly, without Lender’s prior written consent, which consent
shall be given in Lender’s sole discretion and upon receipt of thirty (30) days prior written notice engage in activities which constitute a voluntary or involuntary dissolution, merger (if Guarantor is not the surviving entity),
consolidation, winding up or reorganization of Guarantor or the occurrence of any action preparatory thereto. 
 16. This Guaranty shall be
binding upon the permitted successors and assigns of Guarantor. If more than one party executes this Guaranty, the liability of all such parties shall be joint and several. 

17. THIS GUARANTY, WAS NEGOTIATED IN THE STATE OF OKLAHOMA AND DELIVERED BY GUARANTOR AND ACCEPTED BY LENDER IN THE STATE OF OKLAHOMA, WHICH
STATE THE PARTIES AGREE HAS A SUBSTANTIAL RELATIONSHIP TO THE PARTIES AND THE UNDERLYING TRANSACTIONS EMBODIED HEREBY. IN ALL RESPECTS, INCLUDING, WITHOUT LIMITATION, MATTERS OF CONSTRUCTION AND PERFORMANCE OF THIS GUARANTY AND THE OBLIGATIONS
ARISING HEREUNDER, THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF OKLAHOMA AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA. 

18. Lender shall be entitled to honor any request for loan proceeds made by Borrower and shall have no obligation to see to the proper
disposition of such advances. Guarantor agrees that its obligations hereunder shall not be released or affected by reason of any improper disposition by Borrower of such loan proceeds. 

19. This Guaranty may be executed in any number of counterparts and by different 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 instrument. 

  

					
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 20. Arbitration Provisions. BORROWER, LENDER and GUARANTOR AGREE AS FOLLOWS (hereinafter
referred to as the “Arbitration Provisions” and for the purpose of these Arbitration Provisions any reference to “Borrower” shall be read to include “Guarantor”): 

 

	I.	Special Provisions and Definitions applicable to both CONSUMER DISPUTES and BUSINESS DISPUTES: 

(a) Informal Resolution of Customer Concerns. Most customer concerns can be resolved quickly and to the customer’s
satisfaction by contacting your account officer, branch manager or by calling the Customer Service Department in your region. The region and numbers are: 
  

					
	1.	  	Laredo	  	956-722-7611
	2.	  	Austin	  	512-397-4506
	3.	  	Brownsville	  	956-547-1000
	4.	  	Commerce Bank	  	956-724-1616
	5.	  	Corpus Christi	  	361-888-4000
	6.	  	Eagle Pass	  	830-773-2313
	7.	  	Houston	  	713-526-1211
	8.	  	McAllen	  	956-686-0263
	9.	  	Oklahoma	  	405-841-2100
	10.	  	Port Lavaca	  	361-552-9771
	11.	  	San Antonio	  	210-518-2500
	12.	  	Zapata	  	956-765-8361

 In the unlikely event that your account officer, branch manager or the customer service department is unable
to resolve a complaint to your satisfaction or if the Lender has not been able to resolve a dispute it has with you after attempting to do so informally, you and the Lender agree to resolve those disputes through binding arbitration or small claims
court instead of in courts of general jurisdiction. 
 (b) Sending Notice of Dispute. If either you or the Lender intend
to seek arbitration, then you or the Lender must first send to the other by certified mail, return receipt requested, a written Notice of Dispute. The Notice of Dispute to the Lender should be addressed to: Dennis E. Nixon, President, at
International Bancshares Corporation, P.O. Drawer 1359, Laredo, Texas 78042-1359 or if by email, ibcchairman@ibc.com (special email address to be provided by IBC). The Notice of Dispute must (a) describe the nature and basis of the claim or
dispute; and (b) explain specifically what relief is sought. You may download a copy of the Notice of Dispute at www.ibc.com or you may obtain a copy from your account officer or branch manager. 

(c) If the Dispute is not Informally Resolved. If you and the Lender do not reach an agreement to resolve the claim or
dispute within thirty (30) days after the Notice of Dispute is received, you or the Lender may commence a binding arbitration proceeding. During the binding arbitration proceeding, any settlement offers made by you or the Lender shall
not be disclosed to the Arbitrator. 

  

					
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 (d) “DISPUTE(S)”. As used herein, the word
“DISPUTE(S)” includes any and all controversies or claims between the PARTIES of whatever type or manner, including without limitation, any and all claims arising out of or relating to the Note or any other agreement,
compliance with applicable laws and/or regulations, any and all services or products provided by the Lender, any and all past, present and/or future loans, lines of credit, letters of credit, credit facilities or other form of indebtedness and/or
agreements involving the PARTIES, any and all transactions between or involving the PARTIES, and/or any and all aspects of any past or present relationship of the PARTIES, whether banking or otherwise, specifically including but
not limited to any claim founded in contract, tort, fraud, fraudulent inducement, misrepresentation or otherwise, whether based on statute, regulation, common law or equity. 

(e) “CONSUMER DISPUTE” and “BUSINESS DISPUTE”. As used herein, “CONSUMER
DISPUTE” means a DISPUTE relating to an account (including a deposit account), agreement, extension of credit, loan, service or product provided by the Lender that is primarily for personal, family or household purposes.
“BUSINESS DISPUTE” means any DISPUTE that is not a CONSUMER DISPUTE. 
 (f)
“PARTIES” or “PARTY”. As used in these Arbitration Provisions, the term “PARTIES” or “PARTY” means Borrower, Lender , and each and all persons and entities signing the
Note or any other agreements between or among any of the PARTIES as part of this transaction. “PARTIES” or “PARTY” shall be broadly construed and include individuals, beneficiaries, partners, limited
partners, limited liability members, shareholders, subsidiaries, parent companies, affiliates, officers, directors, employees, heirs, agents and/or representatives of any party to such documents, any other person or entity claiming by or through one
of the foregoing and/or any person or beneficiary who receives products or services from the Lender and shall include any other owner and holder of the Note. Throughout these Arbitration Provisions, the term “you” and
“your” refer to Borrower, and the term “Arbitrator” refers to the individual arbitrator or panel of arbitrators, as the case may be, before which the DISPUTE is arbitrated. 

(g) BINDING ARBITRATION. The PARTIES agree that any DISPUTE between the PARTIES shall be resolved by
mandatory binding arbitration pursuant to these Arbitration Provisions at the election of either PARTY. BY AGREEING TO RESOLVE A DISPUTE IN ARBITRATION, THE PARTIES ARE WAIVING THEIR RIGHT TO A JURY TRIAL OR TO LITIGATE IN COURT
(except for matters that may be taken to small claims court for a CONSUMER DISPUTE as provided below). 
 (h) CLASS
ACTION WAIVER. The PARTIES agree that (i) no arbitration proceeding hereunder whether a CONSUMER DISPUTE or a BUSINESS DISPUTE shall be certified as a class action or proceed as a class action, or on a basis
involving claims brought in a purported representative capacity on behalf of the general public, other customers or potential customers or persons similarly situated, and (ii) no arbitration proceeding hereunder shall be consolidated with, or
joined in any way with, any other arbitration proceeding. THE PARTIES AGREE TO ARBITRATE A CONSUMER DISPUTE OR BUSINESS DISPUTE ON AN INDIVIDUAL BASIS AND EACH WAIVES THE RIGHT TO PARTICIPATE IN A CLASS ACTION. 

  

					
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 (i) FEDERAL ARBITRATION ACT AND OKLAHOMA LAW. The PARTIES acknowledge
that this Guaranty evidences a transaction involving interstate commerce. The Federal Arbitration Act shall govern (i) the interpretation and enforcement of these Arbitration Provisions, and (ii) all arbitration proceedings that take place
pursuant to these Arbitration Provisions. THE PARTIES AGREE THAT, EXCEPT AS OTHERWISE EXPRESSLY AGREED TO BY THE PARTIES IN WRITING, OR UNLESS EXPRESSLY PROHIBITED BY LAW, OKLAHOMA SUBSTANTIVE LAW (WITHOUT REGARD TO ANY CONFLICT OF LAWS
PRINCIPLES) WILL APPLY IN ANY BINDING ARBITRATION PROCEEDING OR SMALL CLAIMS COURT ACTION REGARDLESS OF WHO INITIATES THE PROCEEDING, WHERE YOU RESIDE OR WHERE THE DISPUTE AROSE. 

 

	II.	Provisions applicable only to a CONSUMER DISPUTE: 

 (a) Any and all
CONSUMER DISPUTES shall be resolved by arbitration administered by the American Arbitration Association (“AAA”) under the Commercial Arbitration Rules and the Supplemental Procedures for Resolution of Consumer Disputes and Consumer
Due Process Protocol (which are incorporated herein for all purposes). It is intended by the PARTIES that these Arbitration Provisions meet and include all fairness standards and principles of the American Arbitration Association’s
Consumer Due Process Protocol and due process in predispute arbitration. If a CONSUMER DISPUTE is for a claim of actual damages above $250,000.00 it shall be administered by the AAA before three neutral arbitrators at the request of any
PARTY. 
 (b) Instead of proceeding in arbitration, any PARTY hereto may pursue its claim in your local small
claims court, if the CONSUMER DISPUTE meets the small claims court’s jurisdictional limits. If the small claims court option is chosen, the PARTY pursuing the claim must contact the small claims court directly. The PARTIES
agree that the class action waiver provision also applies to any CONSUMER DISPUTE brought in small claims court. 
 (c) For
any claim for actual damages that does not exceed $2,500.00, the Lender will pay all arbitration fees and costs provided you submitted a Notice of Dispute with regard to the CONSUMER DISPUTE prior to initiation of arbitration. For any claim
for actual damages that does not exceed $5,000, the Lender also agrees to pay your reasonable attorney’s fees and reasonable expenses your attorney charges you in connection with the arbitration (even if the Arbitrator does not award those to
you) plus an additional $2,500.00 if you obtain a favorable arbitration award for your actual damages which is greater than any written settlement offer for your actual damages made by the Lender to you prior to the selection of the Arbitrator.

 (d) Under the AAA’s Supplemental Procedures for consumer disputes, if your claim for actual damages does not exceed $10,000.00,
you shall only be responsible for paying up to a maximum of $125.00 in arbitration fees and costs. If your claim for actual damages exceeds $10,000.00 but does not exceed $75,000.00, you shall only be responsible for paying up to a

  

					
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	  	 	Page 11	  

 
maximum of $375.00 in arbitration fees and costs. For any claim for actual damages that does not exceed $75,000.00, the Lender will pay all other arbitrator’s fees and costs imposed by the
administrator of the arbitration. With regard to a CONSUMER DISPUTE for a claim of actual damages that exceeds $75,000.00, or if the claim is a non-monetary claim, the Lender agrees to pay all arbitration fees and costs you would otherwise be
responsible for that exceed $1,000.00. The fees and costs stated above are subject to any amendments to the fee and cost schedules of the AAA. The fee and cost schedule in effect at the time you submit your claim shall apply. The AAA rules also
permit you to request a waiver or deferral of the administrative fees and costs of arbitration if paying them would cause you financial hardship. 

(e) Although under some laws, the Lender may have a right to an award of attorney’s fees and expenses if it prevails in
arbitration, the Lender agrees that it will not seek such an award in a binding arbitration proceeding with regard to a CONSUMER DISPUTE for a claim of actual damages that does not exceed $75,000.00. 

(f) To request information on how to submit an arbitration claim, or to request a copy of the AAA rules or fee schedule, you may contact the
AAA at 1-800-778-7879 (toll free) or at. 
  

	III.	Provisions applicable only to a BUSINESS DISPUTE: 

 (a) Any and all
BUSINESS DISPUTES between the PARTIES shall be resolved by arbitration in accordance with the Commercial Arbitration Rules of the AAA in effect at the time of filing, as modified by, and subject to, these Arbitration Provisions. A
BUSINESS DISPUTE for a claim of actual damages that exceeds $250,000.00 shall be administered by AAA before at least three (3) neutral arbitrators at the request of any PARTY. In the event the aggregate of all affirmative claims
asserted exceeds $500,000.00, exclusive of interest and attorney’s fees, or upon the written request of any PARTY, the arbitration shall be conducted under the AAA Procedures for Large, Complex Commercial Disputes. If the payment of
arbitration fees and costs will cause you extreme financial hardship you may request that AAA defer or reduce the administrative fees or request the Lender to cover some of the arbitration fees and costs that would be your responsibility.

 (b) The PARTIES shall have the right to (i) invoke self-help remedies (such as setoff, notification of account
debtors, seizure and/or foreclosure of collateral, and non-judicial sale of personal property and real property collateral) before, during or after any arbitration, and/or (ii) request ancillary or provisional judicial remedies (such as
garnishment, attachment, specific performance, receiver, injunction or restraining order, and sequestration) before or after the commencement of any arbitration proceeding (individually, and not on behalf of a class). The PARTIES need not
await the outcome of the arbitration proceeding before using self-help remedies. Use of self-help or ancillary and/or provisional judicial remedies shall not operate as a waiver of either PARTY’s right to compel arbitration. Any
ancillary or provisional judicial remedy which would be available from a court at law shall be available from the Arbitrator. The PARTIES agree that the AAA Optional Rules for Emergency Measures of Protection shall apply in an arbitration
proceeding where emergency interim relief is requested. 
 (c) Except to the extent the recovery of any type or types of damages or
penalties may not by waived under applicable law, the Arbitrator shall not have the authority to award either PARTY (i) punitive, exemplary, special or indirect damages, (ii) statutory multiple damages, or (iii) penalties, statutory
or otherwise. 

  

					
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 (d) The Arbitrator may award attorney’s fees and costs including the fees, costs and
expenses of arbitration and of the Arbitrator as the Arbitrator deems appropriate to the prevailing PARTY. The Arbitrator shall retain jurisdiction over questions of attorney’s fees for fourteen (14) days after entry of the
decision. 
  

	IV.	General provisions applicable to both CONSUMER DISPUTES and BUSINESS DISPUTES: 

(a) The Arbitrator is bound by the terms of these Arbitration Provisions. The Arbitrator shall have exclusive authority to resolve any
DISPUTES relating to the scope or enforceability of these Arbitration Provisions, including (i) all arbitrabiley questions, and (ii) any claim that all or a part of these Arbitration Provisions are void or voidable (including any
claims that they are unconscionable in whole or in part). 
 (b) These Arbitration Provisions shall survive any modification, renewal,
extension, repayment (whether partial or full), or discharge (whether partial or full) of the Note, unless all of the PARTIES otherwise expressly agree in writing. 

(c) If a PARTY initiates legal proceedings, the failure of the initiating PARTY to request arbitration pursuant to these
Arbitration Provisions within 180 days after the filing of the lawsuit shall be deemed a waiver of the initiating PARTY’S right to compel arbitration with respect to the claims asserted in the litigation. The failure of the defending
PARTY in such litigation to request arbitration pursuant to these Arbitration Provisions within 180 days after the defending PARTY’S receipt of service of judicial process, shall be deemed a waiver of the right of the defending
PARTY to compel arbitration with respect to the claims asserted in the litigation. If a counterclaim, cross-claim or third party action is filed and properly served on a PARTY in connection with such litigation, the failure of such
PARTY to request arbitration pursuant to these Arbitration Provisions within ninety (90) days after such PARTY’S receipt of service of the counterclaim, cross-claim or third party claim shall be deemed a waiver of such
PARTY’S right to compel arbitration with respect to the claims asserted therein. The issue of waiver pursuant to these Arbitration Provisions is an arbitrable dispute. Active participation in any pending litigation described above by a
PARTY shall not in any event be deemed a waiver of such PARTY’S right to compel arbitration. All discovery obtained in the pending litigation may be used in any subsequent arbitration proceeding. 

(d) Any PARTY seeking to arbitrate shall serve a written notice of intent to any and all opposing PARTIES after a
DISPUTE has arisen. The PARTIES agree a timely written notice of intent to arbitrate by either PARTY pursuant to these Arbitration Provisions shall stay and/or abate any and all action in a trial court, save and except a hearing
on a motion to compel arbitration and/or the entry of an order compelling arbitration and staying and/or abating the litigation pending the filing of the final award of the Arbitrator. 

(e) Any Arbitrator selected shall be knowledgeable in the subject matter of the DISPUTE and be licensed to practice law. 

  

					
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 (f) For a one (1) member arbitration panel, the PARTIES are limited to an
equal number of strikes in selecting the arbitrator from the AAA neutral list, such that at least one arbitrator remains after the PARTIES exercise all of their respective strikes. For a three (3) member arbitration panel, the
PARTIES are limited to an equal number of strikes in selecting the arbitrators from the AAA neutral list, such that at least three arbitrators remain after the PARTIES exercise all of their respective strikes. After exercising all of
their allotted respective strikes, the PARTIES shall rank those potential arbitrators remaining numerically in order of preference (with “1” designating the most preferred). The AAA shall review the PARTIES rankings and
assign a score to each potential arbitrator by adding together the ranking given to such potential arbitrator by each PARTY. The arbitrator(s) with the lowest score total(s) will be selected. In the event of a tie or ties for lowest score
total and if the selection of both or all of such potential arbitrators is not possible due to the required panel size, the AAA shall select the arbitrator(s) it believes to be best qualified. 

(g) The PARTIES and the Arbitrator shall treat all aspects of the arbitration proceedings, including, without limitation, any
documents exchanged, testimony and other evidence, briefs and the award, as strictly confidential; provided, however, that a written award or order from the Arbitrator may be filed with any court having jurisdiction to confirm and/or enforce such
award or order. 
 (h) Any statute of limitation which would otherwise be applicable shall apply to any claim asserted in any
arbitration proceeding under these Arbitration Provisions, and the commencement of any arbitration proceeding tolls such statute of limitations. 

(i) If the AAA is unable for any reason to provide arbitration services, then the PARTIES agree to select another arbitration
service provider that has the ability to arbitrate the DISPUTE pursuant to and consistent with these Arbitration Provisions. If the PARTIES are unable to agree on another arbitration service provider, any PARTY may petition a
court of competent jurisdiction to appoint an Arbitrator to administer the arbitration proceeding pursuant to and consistent with these Arbitration Provisions. 

(j) The award of the Arbitrator shall be final and Judgment upon any such award may be entered in any court of competent jurisdiction. The
arbitration award shall be in the form of a written reasoned decision and shall be based on and consistent with applicable law. 

(k) Unless the PARTIES mutually agree to hold the binding arbitration proceeding elsewhere, venue of any arbitration proceeding
under these Arbitration Provisions shall be in the county and state where Lender is located, which is Lender’s address set out in the first paragraph on page 1 hereof. 

(l) If any of these Arbitration Provisions are held to be invalid or unenforceable, the remaining provisions shall be enforced without regard
to the invalid or unenforceable term or provision. 
 [SIGNATURES TO FOLLOW] 

  

					
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	 LOAN GUARANTY – LAMBDA INVESTORS LLC II EXECUTION VERSION
	  	 	Page 14	  

 IN WITNESS WHEREOF, Guarantor has delivered this Guaranty in the State of Oklahoma as of
the date first written above. 
  

					
		  	 LAMBDA INVESTORS LLC, a Delaware

limited liability company

			
		  	By:	  	WEXFORD CAPITAL LLC, its Manager
			
		  	By:	  	 /s/ Paul Jacobi

		  		  	Name: Paul Jacobi
		  		  	Title: Vice President
		
	Address:	  	411 West Putnam Avenue
		  	Greenwich, Connecticut 06830

  

					
	IBC / BISON DRILLING	  	 	Signature Page	  
	 LOAN GUARANTY – LAMBDA INVESTORS LLC II EXECUTION VERSION
	  	 	Page 15

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