Document:

Exclusive Option Agreement

 Exhibit 10.37 
  
 Exclusive Option Agreement 
  
 This Exclusive Option Agreement (this “Agreement”) is executed by and among the parties below as of December 2, 2004 in Beijing: 
  
 Party A: Lenovo-AsiaInfo Technologies,
Inc., a limited liability company organized and existing under the laws of the People’s Republic of China (“China” or “PRC”), with its address at Room 301-310, Zhongdian Information Tower, No.6 Zhongguancun South Street,
Haidian District, Beijing 100086, P. R. China; 
  
 Party B: Bing Yu, a citizen of China with Chinese identification No.: 110108650831235, and an address at Room 48, Building 1, Yard 1, Jinjiacun, Fengtai District, Beijing, P.R. China; and 
  
 Party C: Lenovo Security Technologies (Beijing),
Inc., a limited liability company organized and existing under the laws of China, with its address at Room 801-810, Zhongdian Information Tower, No.6 Zhongguancun South Street, Haidian District, Beijing 100086, P. R. China. 
  
 In this Agreement, each of Party A, Party B and Party C shall be referred to
as a “Party,” and they shall be collectively referred to as the “Parties”. 
  
 Whereas: 
  

	1.	Party B holds 25% of the equity interest in Party C; 

  

	2.	Party A and Party B executed a loan agreement on October 19, 2004 (the “Loan Agreement”). 

  
 Now therefore, upon mutual discussion and negotiation, the Parties have reached the following agreement: 
  

	1.	Sale and Purchase of Equity Interest 

  

	 	1.1	Option Granted 

  
 In consideration of the payment of RMB10.00 by Party A, the receipt and adequacy of which is hereby acknowledged by Party B, Party B hereby irrevocably
grants Party A an irrevocable right to purchase, or designate one or more persons (each, a “Designee”) to purchase, the equity interests in Party C then held by Party B once or at multiple times at any time in part or in whole at Party
A’s sole and absolute discretion to the extent permitted by Chinese laws and at the price described in Section 1.3 herein (such right being the “Equity Interest Purchase Option”). Except for Party A and the Designee(s), no other
person shall be entitled to the Equity Interest Purchase Option or other rights with respect to the equity interests of Party B. Party C 
  

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 hereby agrees to the grant by Party B of the Equity Interest Purchase Option to Party A. The term
“person” as used herein shall refer to individuals, corporations, partnerships, partners, enterprises, trusts or non-corporate organizations. 
  

	 	1.2	Steps for Exercise of Equity Interest Purchase Option 

  
 Subject to the provisions of the laws and regulations of China, Party A may exercise the Equity Interest Purchase Option by issuing a written notice to
Party B (the “Equity Interest Purchase Option Notice”) and specifying: (a) Party A’s decision to exercise the Equity Interest Purchase Option; (b) the portion of equity interests to be purchased from Party B (the “Optioned
Interests”); and (c) the date for purchasing the Optioned Interests. 
  

	 	1.3	Equity Interest Purchase Price 

  
 Unless an appraisal is required by the laws of China applicable to the Equity Interest Purchase Option when exercised by Party A, the purchase price of
the Optioned Interests (the “Equity Interest Purchase Price”) shall equal the actual capital contributions paid in the registered capital of Party C by Party B for the Optioned Interests. 
  

	 	1.4	Transfer of Optioned Interests 

  
 For each exercise of the Equity Interest Purchase Option: 
  

	 	1.4.1	Party B shall cause Party C to promptly convene a shareholders meeting, at which a resolution shall be adopted approving Party B’s transfer of the Optioned Interests to Party A
and/or the Designee(s); 

  

	 	1.4.2	Party B shall execute a share transfer contract with respect to each transfer with Party A and/or each Designee (whichever is applicable), in accordance with the provisions of this
Agreement and the Equity Interest Purchase Option Notice regarding the Optioned Interests; 

  

	 	1.4.3	The relevant Parties shall execute all other necessary contracts, agreements or documents, obtain all necessary government licenses and permits and take all necessary actions, to
transfer valid ownership of the Optioned Interests to Party A and/or the Designee(s), unencumbered by any security interest, and cause Party A and/or the Designee(s) to become the registered owner(s) of the Optioned Interests. For the purpose of
this section and this Agreement, “security interest” shall include security, mortgages, third party’s rights or interests, any stock options, acquisition right, right of first refusal, right to offset, ownership retention or other
security arrangements, but shall be deemed to exclude any security interest created by this Agreement and Party B’s Share Pledge Agreement. “Party B’s Share Pledge Agreement” as used in this section and this Agreement shall refer
to the Share Pledge 

  

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 Agreement executed by and between Party A and Party B as of the date hereof, whereby Party B pledges all
of the equity interest in Party C to Party A, in order to guarantee Party C’s performance of its obligations under the Exclusive Business Corporation Agreement executed by and between Party C and Party A. 
  

	 	1.5	Payment of the Equity Interest Purchase Price 

  
 The Parties have agreed in the Loan Agreement that any proceeds obtained by Party B through the transfer of its equity interests in Party C shall be used
for repayment of the loan provided by Party A in accordance with the Loan Agreement. Accordingly, upon exercise of the Equity Interest Purchase Option, Party A may elect to make payment of the Equity Interest Purchase Price through cancellation of
the outstanding amount of the loan owed by Party B to Party A, in which case Party A shall not be required to pay any additional Equity Interest Purchase Price to Party B. 
  

	2.	Covenants regarding Equity Interest Purchase Option 

  

	 	2.1	Covenants regarding Party C 

  
 Party B (as a shareholder of Party C) and Party C hereby covenant as follows: 
  

	 	2.1.1	Without the prior written consent of Party A, they shall not in any manner supplement, change or amend the articles of association and bylaws of Party C, increase or decrease its
registered capital, or change its structure of registered capital; 

  

	 	2.1.2	They shall maintain Party C’s corporate existence in accordance with good financial and business standards and practices by prudently and effectively operating its business and
handling its affairs; 

  

	 	2.1.3	Without the prior written consent of Party A, they shall not at any time following the date hereof, sell, transfer, mortgage or dispose of in any manner any assets of Party C or
legal or beneficial interest in the business or revenues of Party C, or allow the encumbrance thereon of any security interest; 

  

	 	2.1.4	Without the prior written consent of Party A, they shall not incur, inherit, guarantee or suffer the existence of any debt, except for (i) debts incurred in the ordinary course of
business other than through loans; and (ii) debts disclosed to Party A for which Party A’s written consent has been obtained; 

  

	 	2.1.5	They shall always operate all of Party C’s businesses during the ordinary course of business to maintain the asset value of Party C and refrain from any action/omission that
may affect Party C’s operating status and asset value; 

  

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	 	2.1.6	Without the prior written consent of Party A, they shall not cause Party C to execute any major contract, except contracts in the ordinary course of business (for purpose of this
subsection, a contract with a value exceeding RMB 100,000 shall be deemed a major contract); 

  

	 	2.1.7	Without the prior written consent of Party A, they shall not cause Party C to provide any person with any loan or credit; 

  

	 	2.1.8	They shall provide Party A with information on Party C’s business operations and financial condition at Party A’s request; 

  

	 	2.1.9	If requested by Party A, they shall procure and maintain insurance in respect of Party C’s assets and business from an insurance carrier acceptable to Party A, at an amount and
type of coverage typical for companies that operate similar businesses; 

  

	 	2.1.10	Without the prior written consent of Party A, they shall not cause or permit Party C to merge, consolidate with, acquire or invest in any person; 

  

	 	2.1.11	They shall immediately notify Party A of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to Party C’s assets,
business or revenue; 

  

	 	2.1.12	To maintain the ownership by Party C of all of its assets, they shall execute all necessary or appropriate documents, take all necessary or appropriate actions and file all
necessary or appropriate complaints or raise necessary and appropriate defenses against all claims; 

  

	 	2.1.13	Without the prior written consent of Party A, they shall ensure that Party C shall not in any manner distribute dividends to its shareholders, provided that upon Party A’s
written request, Party C shall immediately distribute all distributable profits to the respective shareholders; and 

  

	 	2.1.14	At the request of Party A, they shall appoint any persons designated by Party A as directors of Party C. 

  

	 	2.2	Covenants of Party B and Party C 

  
 Party B hereby covenants as follows: 
  

	 	2.2.1	Without the prior written consent of Party A, Party B shall not sell, transfer, mortgage or dispose of in any other manner any legal or beneficial interest in the equity interests
in Party C held by Party B, or allow the encumbrance thereon of any security interest, except for the pledge placed on these equity interests in accordance with Party B’s Share Pledge agreement; 

  

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	 	2.2.2	Party B shall cause the shareholders’ meeting or the board of directors of Party C not to approve the sale, transfer, mortgage or disposition in any other manner any legal or
beneficial interest in the equity interests in Party C held by Party B, or allow the encumbrance thereon of any security interest, without the prior written consent of Party A, except for the pledge placed on these equity interests in accordance
with Party B’s Share Pledge Agreement; 

  

	 	2.2.3	Party B shall cause the shareholders’ meeting or the board of directors of Party C not to approve the merger or consolidation with any person, or the acquisition of or
investment in any person, without the prior written consent of Party A; 

  

	 	2.2.4	Party B shall immediately notify Party A of the occurrence or possible occurrence of any litigation, arbitration or administrative proceedings relating to the equity interests in
Party C held by Party B; 

  

	 	2.2.5	Party B shall cause the shareholders’ meeting or the board of directors of Party C to vote their approval of the transfer of the Optioned Interests as set forth in this
Agreement and to take any and all other actions that may be requested by Party A; 

  

	 	2.2.6	To the extent necessary to maintain Party B’s ownership in Party C, Party B shall execute all necessary or appropriate documents, take all necessary or appropriate actions and
file all necessary or appropriate complaints or raise necessary and appropriate defenses against all claims; 

  

	 	2.2.7	Party B shall appoint any designee of Party A as director of Party C, at the request of Party A; 

  

	 	2.2.8	At the request of Party A at any time, Party B shall promptly and unconditionally transfer its equity interests in Party C to Party A’s Designee(s) in accordance with the
Equity Interest Purchase Option under this Agreement, and Party B hereby waives its right of first refusal (if any) to the share transfer by the other existing shareholder of Party C (if any); and 

  

	 	2.2.9	Party B shall strictly abide by the provisions of this Agreement and other contracts jointly or separately executed by and among Party B, Party C and Party A, perform the
obligations hereunder and thereunder, and refrain from any action/omission that may affect the effectiveness and enforceability thereof. To the extent that Party B has any remaining rights with respect to the equity interests subject to this
Agreement hereunder or under the Share Pledge Agreement among the same parties hereto or under the Power of Attorney granted in favor of Party A, Party B shall not exercise such rights except in accordance with the written instructions of Party A.

  

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	3.	Representations and Warranties 

  
 Party B and Party C hereby represent and warrant to Party A, jointly and severally, as of the date of this Agreement and each date of transfer of the
Optioned Interests, that: 
  

	 	3.1	They have the authority to execute and deliver this Agreement and any share transfer contracts to which they are a party concerning the Optioned Interests to be transferred
thereunder (each, a “Transfer Contracts”), and to perform their obligations under this Agreement and any Transfer Contracts. Party B and Party C agree to enter into Transfer Contracts consistent with the terms of this Agreement upon
exercise of the option. This Agreement and the Transfer Contracts to which they are a party constitute or will constitute their legal, valid and binding obligations and shall be enforceable against them in accordance with the provisions
thereof; 

  

	 	3.2	The execution and delivery of this Agreement or any Transfer Contracts and the obligations under this Agreement or any Transfer Contracts shall not: (i) cause any violation of any
applicable laws of China; (ii) be inconsistent with their articles of association, bylaws or other organizational documents of Party C; (iii) cause the violation of any contracts or instruments to which they are a party or which are binding on them,
or constitute any breach under any contracts or instruments to which they are a party or which are binding on them; (iv) cause any violation of any condition for the grant and/or continued effectiveness of any licenses or permits issued to either of
them; or (v) cause the suspension or revocation of or imposition of additional conditions to any licenses or permits issued to either of them; 

  

	 	3.3	Party B has a good and merchantable title to the equity interests in Party C he holds. Except for Party B’s Share Pledge Agreement, Party B has not placed any security interest
on such equity interests; 

  

	 	3.4	Party C has a good and merchantable title to all of its assets, and has not placed any security interest on the aforementioned assets; 

  

	 	3.5	Party C does not have any outstanding debts, except for (i) debt incurred in the ordinary course of business; and (ii) debts disclosed to Party A for which Party A’s written
consent has been obtained. 

  

	 	3.6	Party C has complied with all laws and regulations of China applicable to asset acquisitions; and 

  

	 	3.7	There are no pending or threatened litigation, arbitration or administrative proceedings relating to the equity interests in or assets of Party C. 

  

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	4.	Effective Date 

  
 This Agreement shall become effective upon the date hereof, and remain effective for a term of 10 years, and may be renewed for an additional 10 years at
Party A’s election. 
  

	5.	Governing Laws and Resolution of Disputes 

  

	 	5.1	Governing laws 

  
 The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be
governed by the formally published and publicly available laws of China. Matters not covered by formally published and publicly available laws of China shall be governed by international legal principles and practices. 
  

	 	5.2	Methods of Resolution of Disputes 

  
 Any dispute, controversy or claim arising out of or relating to this Agreement, or the breach termination or invalidity thereof, shall be settled by
arbitration at the Hong Kong International Arbitration Center (“HKIAC”) under the UNCITRAL Arbitration Rules as at present in force and as may be amended by the rest of this clause. For the purpose of such arbitration, there shall be a
board of arbitration (the “Board of Arbitration”) consisting of three arbitrators, each of Party A and Party B shall select one (1) member and the third member shall be selected by mutual agreement of the other members, or if the other
members fail to reach agreement on a third member within twenty (20) days after their selection, such third member shall thereafter be selected by the HKIAC upon application made to it for such purpose. The language used in such arbitration shall be
English, and the place of arbitration shall be in Hong Kong at HKIAC. Any such arbitration shall be administered by HKIAC in accordance with HKIAC Procedures for Arbitration in force at the date of this Agreement including any additions to the
UNCITRAL Arbitration Rules as are therein contained. The decision by the Board of Arbitration shall be final and binding on the parties. 
  

	6.	Taxes and Fees 

  
 Each Party shall pay any and all transfer and registration tax, expenses and fees incurred thereby or levied thereon in accordance with the laws of China
in connection with the preparation and execution of this Agreement and the Transfer Contracts, as well as the consummation of the transactions contemplated under this Agreement and the Transfer Contracts. 
  

	7.	Notices 

  

	 	7.1	All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid, by a
commercial courier service or by facsimile transmission to the address of such party set forth below. A confirmation copy of each notice shall also be sent by email. The dates on which notices shall be deemed to have been effectively given shall be

  

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 determined as follows: 
  

	 	7.1.1	Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of delivery or refusal at the address
specified for notices. 

  

	 	7.1.2	Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of
transmission). 

  

	 	7.2	For the purpose of notices, the addresses of the Parties are as follows: 

  

			
	 Party A:
	  	Room 301-310, Zhongdian Information Tower, No.6 Zhongguancun South Street, Haidian District, Beijing 100086, P. R. China
	 	  	Attn: Legal Department
	 	  	Phone: +8610-6250 1658
	 	  	Facsimile: +8610-6250 1665
		
	 Party B:
	  	Room 48, Building 1, Yard 1, Jinjiacun, Fengtai District, Beijing, P.R. China
	 	  	Attn: Bing Yu
	 	  	Phone: +8610-6250 1312
		
	 Party C:
	  	Room 801-810, Zhongdian Information Tower, No.6 Zhongguancun South Street, Haidian District, Beijing 100086, P. R. China
	 	  	Attn: Bing Yu
	 	  	Phone: +8610-6250 1312

  

	 	7.3	Any party may at any time change its address for notices by a notice delivered to the other party in accordance with the terms hereof. 

  

	8.	The Duty to Maintain Confidentiality 

  
 The Parties acknowledge that any oral or written information exchanged among them with respect to this Agreement is confidential information. Each Party
shall maintain the confidentiality of all such information, and without obtaining the written consent of other Parties, it shall not disclose any relevant information to any third parties, except in the following circumstances: (a) such information
is or will be in the public domain (provided that this is not the result of a public disclosure by the receiving party); (b) information disclosed as required by applicable laws or rules or regulations of any stock exchange; or (c) information
required to be disclosed by any Party to its legal counsel or financial advisor regarding the transaction contemplated hereunder, and such legal counsel or financial advisor are also bound by confidentiality duties similar to the duties in this
section. Disclosure of any confidential information by the staff members or agency hired by any Party shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable for breach of this Agreement. This
section shall survive the termination of this Agreement for any reason. 
  

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	9.	Further Warranties 

  
 The Parties agree to promptly execute documents that are reasonably required for or are conducive to the implementation of the provisions and purposes of
this Agreement and take further actions that are reasonably required for or are conducive to the implementation of the provisions and purposes of this Agreement. 
  

	10.	Miscellaneous 

  

	 	10.1	Amendment, change and supplement 

  
 Any amendment, change and supplement to this Agreement shall require the execution of a written agreement by all of the Parties. 
  

	 	10.2	Entire contract 

  
 Except for amendments, supplements or changes in writing executed after the execution of this Agreement, this Agreement shall constitute the entire
agreement reached by and among the Parties hereto with respect to the subject matter hereof, and shall supercede all prior oral and written consultations, representations and contracts reached with respect to the subject matter of this Agreement.

  

	 	10.3	Headings 

  
 The headings of this Agreement are for convenience only, and shall not be used to interpret, explain or otherwise affect the meanings of the provisions of this Agreement. 
  

	 	10.4	Language 

  
 This Agreement is written in both Chinese and English language in three copies, each Party having one copy with equal legal validity; in case there is any conflict between the Chinese version and the English version,
the Chinese version shall prevail. 
  

	 	10.5	Severability 

  
 In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with
any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or
unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect
of those invalid, illegal or unenforceable provisions. 
  

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	 	10.6	Successors 

  
 This Agreement shall be binding on and shall inure to the interest of the respective successors of the Parties and the permitted assigns of such Parties. 
  

	 	10.8	Survival 

  

	 	10.8.1	Any obligations that occur or that are due as a result of this Agreement upon the expiration or early termination of this Agreement shall survive the expiration or early termination
thereof. 

  

	 	10.8.2	The provisions of Articles 5, 7, 8 and this Section 10.8 shall survive the termination of this Agreement. 

  

	 	10.9	Waivers 

  
 Any Party may waive the terms and conditions of this Agreement, provided that such a waiver must be provided in writing and shall require the signatures of the Parties. No waiver by any Party in certain circumstances
with respect to a breach by other Parties shall operate as a waiver by such a Party with respect to any similar breach in other circumstances. 
  
 IN WITNESS WHEREOF, the Parties have caused their respective duly authorized representatives to execute this Agreement as of the date first above written. 
  

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	 Party A: Lenovo-AsiaInfo Technologies, Inc.

		
	By Legal Representative:	 	 /s/ Bing Yu

	Name:	 	 Bing Yu

  

			
	 Party B: Bing Yu

		
	By:	 	 /s/ Bing Yu

	 	 	 

  

			
	Party C: Lenovo Security Technologies (Beijing), Inc.
		
	By Legal Representative:	 	 /s/ Bing Yu

	Name:	 	 Bing Yu

  
  

 11First Amendment to Credit Agreement

 Exhibit 10.1 
  
 EXECUTION COPY 
  

  
 FIRST AMENDMENT 
  
 TO 
  
 CREDIT AGREEMENT 
  
 dated as of 
  
 April 29, 2005 
  
 among 
  
 GOODRICH
PETROLEUM COMPANY, L.L.C., 
 as Borrower, 
  

BNP PARIBAS, 
 as Agent,

  
 and 
  
 The Lenders Party Hereto 
  

 FIRST AMENDMENT TO CREDIT AGREEMENT 
  
 THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “First Amendment”) dated as of April 29, 2005,
is among GOODRICH PETROLEUM COMPANY, L.L.C., a Louisiana limited liability company (“Borrower”); each of the undersigned Guarantors (collectively, the “Guarantors”); BNP PARIBAS, as agent (in such
capacity, together with its successors in such capacity, “Agent”) for the lenders party to the Credit Agreement referred to below (collectively, the “Lenders”); and the undersigned Lenders. 
  
 R E C I T A L S 
  
 A. Borrower, Agent and the Lenders are parties to that certain Credit
Agreement dated as of November 9, 2001, as amended and restated on February 25, 2005 (the “Credit Agreement”), pursuant to which the Lenders have made certain loans to and other extensions of credit on behalf of Borrower.

  
 B. Borrower has requested, and the Lenders have agreed, to
amend certain provisions of the Credit Agreement. 
  
 C. NOW,
THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 Section 1. Defined Terms. Each capitalized term used herein but not
otherwise defined herein has the meaning given such term in the Credit Agreement. Unless otherwise indicated, all article and section references in this First Amendment refer to articles and sections of the Credit Agreement. 
  
 Section 2. Amendments to Credit Agreement. 
  
 2.1 Amendment to Section 1.1. The definition of “Term
Availability Period” is hereby amended in its entirety to read as follows: 
  
 “Term Availability Period” means the period from and including the Closing Date to but excluding the second anniversary
of the Closing Date. 
  
 2.2 Amendment to Section 2.2(d).
Section 2.2(d) is hereby amended in its entirety to read as follows: 
  
 “(d) The Term Borrowings are not revolving in nature, and amounts repaid or prepaid may not be reborrowed under any circumstance; provided that Borrower may repay and reborrow the Initial Term Borrowing as
permitted by Section 3.2(c)(iii). Any portion of the Term Commitments not utilized by Borrower before the expiration of the Term Availability Period shall be permanently canceled (except in the case of that portion of the Term Commitments related to
the reborrowing of the Initial Term Borrowing as permitted by Section 3.2(c)(iii), which portion shall be permanently canceled if not utilized by the Borrower before the first anniversary of the Closing Date).” 

 2.3 Amendment to Section 2.3(b)(i). The parenthetical in line six of Section 2.3(b)(i) is hereby
amended in its entirety to read as follows: 
  
 “(which shall be the Closing Date in the case of the initial funding of the Initial Term Borrowing and a Business Day in the case of the reborrowing of the Initial Term Borrowing pursuant to Section 3.2(c)(iii))” 
  
 2.4 Amendment to Section 3.2(a). Section 3.2(a) is hereby amended by
adding the following after the last line thereof: 
  
 “Notwithstanding the foregoing, (i) interest accrued pursuant to Section 3.5 shall be payable on demand, (ii) in the event of any repayment or prepayment of any Borrowing (other than an optional prepayment of a Base-Rate Borrowing
prior to the Termination Date), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment, and (iii) in the event of any conversion of any LIBOR-Rate Borrowing prior to the end of the
current Interest Period therefor, accrued interest on such LIBOR-Rate Borrowing shall be payable on the effective date of such conversion.” 
  
 2.5 Amendment to Section 3.2(c). Section 3.2(c) is hereby amended in its entirety to read as follows: 
  
 “(c) Term Facility Principal. 
  
 (i) The Term Principal Debt under the Term Facility is due
and payable on the Termination Date. 
  
 (ii)
Borrower may at any time prepay, without penalty and in whole or in part, the Term Principal Debt under the Term Facility provided that (A) after giving effect to such prepayment, the unused portion of the Revolving Commitment is greater than or
equal to $5,000,000 or the Revolving Principal Debt has been paid in full and the Revolving Commitments have been terminated, (B) each voluntary partial prepayment must be in a principal amount not less than $500,000 or a greater integral multiple
of $100,000 and (C) Borrower shall pay any related Funding Loss upon demand. 
  
 (iii) Notwithstanding anything to the contrary contained in Section 3.2(c)(ii), Borrower may (one time only) prepay, without penalty, all, but not less than all, of the outstanding principal amount of the Initial Term
Borrowing with the proceeds of an equity offering made by Borrower on or before May 30, 2005, provided that (A) such prepayment is made within 30 days after the date of such equity offering and (B) Borrower shall pay all accrued and unpaid interest
in respect thereof and any related Funding Loss upon the date of such prepayment. In the event of such prepayment, subject to the terms and conditions hereof, Borrower may at any time during the period from and including the date of such prepayment
to but excluding the first anniversary of the Closing Date reborrow all, but not less than all, of the Initial Term Borrowing. In such event, each 
  

 2 

 Lender severally but not jointly agrees to lend to Borrower on the date requested in the Borrowing
Request given by Borrower in accordance with Section 2.3(b)(i) an amount equal to that Lender’s Term Commitment Percentage (in an amount not to exceed such Lender’s Term Commitment then in effect) of an aggregate principal amount equal to
the Initial Term Borrowing ($7,500,000); provided that if Borrower elects to reborrow the Initial Term Borrowing as aforesaid, any amounts subsequently prepaid or repaid in respect thereof may not be reborrowed under any circumstance.”

  
 2.6 Amendment to Article IV. Article IV is hereby
amended to add the following new Section 4.5 to read as follows: 
  
 “Section 4.5 Term Commitment Fee. If Borrower prepays the Initial Term Borrowing with the proceeds of an equity offering as permitted by Section 3.2(c)(iii), Borrower agrees to pay to Agent for the account
of each Lender a term commitment fee, which shall accrue at .50% on the average daily amount of the unused amount of the commitment of such Lender in respect of the Initial Term Borrowing during the period from and including the date of such
prepayment to but excluding the earlier of (i) the date that Borrower reborrows the Initial Term Borrowing pursuant to Section 3.2(c)(iii) or (ii) the first anniversary of the Closing Date. Accrued term commitment fees shall be payable in arrears on
the last day of March, June, September and December of each year and on the earlier of (i) the date that Borrower reborrows the Initial Term Borrowing as permitted by Section 3.2(c)(iii) or (ii) the first anniversary of the Closing Date, commencing
on the first such date to occur after the date of such prepayment. All commitment fees shall be computed on the basis of a year of 360 days, unless such computation would exceed the highest lawful non-usurious rate permitted by applicable law, in
which case interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).” 
  
 Section 3. Conditions Precedent. This First Amendment shall not become
effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 14.8 of the Credit Agreement) (the “Effective Date”): 
  
 3.1 Agent and the Lenders shall have received all fees and other amounts due
and payable, if any, in connection with this First Amendment on or prior to the Effective Date. 
  
 3.2 Agent shall have received from the Lenders and Borrower, counterparts (in such number as may be requested by Agent) of this First Amendment signed on
behalf of such Persons. 
  
 3.3 Agent shall have received such
other documents as Agent or special counsel to Agent may reasonably request. 
  
 3.4 No Default shall have occurred and be continuing, after giving effect to the terms of this First Amendment. 
  

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 Section 4. Miscellaneous. 
  
 4.1 Confirmation. The provisions of the Credit Agreement, as amended by this First Amendment, shall remain in full
force and effect following the effectiveness of this First Amendment. 
  
 4.2 Ratification and Affirmation; Representations and Warranties. Borrower and each Guarantor hereby (a) acknowledges the terms of this First Amendment; (b) ratifies and affirms its obligations under, and acknowledges, renews and
extends its continued liability under, each Loan Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect, except as expressly amended hereby, notwithstanding the amendments contained
herein and (c) represents and warrants to the Lenders that as of the date hereof, after giving effect to the terms of this First Amendment: (i) all of the representations and warranties contained in each Loan Document to which it is a party are true
and correct, except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct as of such specified earlier date, (ii) no
Default has occurred and is continuing and (iii) since February 25, 2005, there has been no event, development or circumstance that has had or could reasonably be expected to have a Material Adverse Event. 
  
 4.3 Loan Document. This First Amendment is a “Loan Document”
as defined and described in the Credit Agreement and all of the terms and provisions of the Credit Agreement relating to Loan Documents shall apply hereto. 
  
 4.4 Counterparts. This First Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such
counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of this First Amendment by facsimile transmission shall be effective as delivery of a manually executed counterpart hereof. 
  
 4.5 NO ORAL AGREEMENT. THIS FIRST AMENDMENT, THE CREDIT AGREEMENT AND
THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO
SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES. 
  
 4.6
GOVERNING LAW. THIS FIRST AMENDMENT (INCLUDING, BUT NOT LIMITED TO, THE VALIDITY AND ENFORCEABILITY HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS. 
  
 [SIGNATURES BEGIN NEXT PAGE] 
  

 4 

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

					
	BORROWER:	 	GOODRICH PETROLEUM COMPANY, L.L.C.
			
	 	 	By:	 	 /s/ D. HUGHES WATLER, JR.

	 	 	 	 	D. Hughes Watler, Jr.
	 	 	 	 	Senior Vice President and
	 	 	 	 	Chief Financial Officer
		
	GUARANTORS:	 	GOODRICH PETROLEUM CORPORATION
			
	 	 	By:	 	 /s/ D. HUGHES WATLER, JR.

	 	 	 	 	D. Hughes Watler, Jr.
	 	 	 	 	Senior Vice President and
	 	 	 	 	Chief Financial Officer
		
	 	 	GOODRICH PETROLEUM COMPANY – LAFITTE, L.L.C.
			
	 	 	By:	 	 /s/ D. HUGHES WATLER, JR.

	 	 	 	 	D. Hughes Watler, Jr.
	 	 	 	 	Senior Vice President and
	 	 	 	 	Chief Financial Officer

  

 S-1 

					
	AGENT:	 	BNP PARIBAS, as a Lender and as Agent
			
	 	 	By:	 	 /s/ BRIAN MALONE
  

	 	 	 	 	Brian Malone
	 	 	 	 	Managing Director
			
	 	 	By:	 	 /s/ POLLY SCHOTT
  

	 	 	 	 	Polly Schott
	 	 	 	 	Vice President

  

 S-2

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