Document:

Second Amendment to Restated Loan Agreement

 Exhibit 10.1 
 SECOND AMENDMENT TO RESTATED LOAN AGREEMENT 
 This Second Amendment to Restated
Loan Agreement (this “Amendment”) dated as of March 1, 2011, is made among GMX RESOURCES INC., an Oklahoma corporation (the “Borrower”), the LENDERS (as defined below), CAPITAL ONE, NATIONAL ASSOCIATION, a
national banking association, as administrative agent, arranger and bookrunner, for the Lenders (and individually as a Lender), and BNP PARIBAS, as syndication agent (and individually as a Lender), who agree as follows: 

RECITALS 
 A.
This Amendment pertains to that certain Fifth Amended and Restated Loan Agreement dated effective as of February 2, 2011, among the Borrower, the Agent and the Lenders, as amended by the First Amendment dated as of February 3, 2011 (as
amended, the “Loan Agreement”). As used in this Amendment, capitalized terms used herein without definition herein shall have the meanings provided in the Loan Agreement. 

B. The Borrower, the Agent and the Lenders desire to amend the Loan Agreement to modify a covenant. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the terms and conditions contained herein, and the loans and extensions of credit heretofore, now or hereafter made to the Borrower by the Lenders, subject to the conditions precedent in Paragraph 3.5 below, the
parties hereto hereby agree as follows: 
 ARTICLE 1. 
 AMENDMENT 
 1.1 Section 1.2 of the Loan Agreement is hereby amended to
amend the definition of “Qualified Redeemable Preferred Equity” therein, by changing clause (B) to be amended and restated, to read in its entirety as follows: 
 “... (B) between December 13, 2010 and the Maturity Date, which consists of shares of the Borrower’s 9.25% Series B Cumulative Preferred Stock with an aggregate liquidation
preference not to exceed sixty two million dollars ($62,000,000.00), which shares 

 
may be issued either in a registered offering for cash or in exchange for a portion of the Borrower’s indebtedness for borrowed money outstanding on December 13, 2010, and the proceeds
of which are used in accordance with Subsection 6.11(c).” 
 1.2 Section 6.11 of the Loan Agreement is hereby
amended to add a new Subsection 6.11(c), such Subsection to read in its entirety as follows: 
 (c) The sole uses by the
Borrower of the issuance of and proceeds from any Qualified Redeemable Preferred Equity issued on and after December 13, 2010 shall be the use by the Borrower of cash proceeds from, or an exchange of, up to $62,000,000.00 in liquidation
preference of such Qualified Redeemable Preferred Equity to retire a portion of the Borrower’s indebtedness for borrowed money outstanding on December 13, 2010, or for general corporate and working capital purposes. 

1.3 Section 6.17 of the Loan Agreement is hereby amended to amend clause (4) of Subsection 6.17(a), by changing sixty
million dollars ($60,000,000.00) to be sixty-two million dollars ($62,000,000.00). 
 ARTICLE 2. 

ACKNOWLEDGMENT OF COLLATERAL 
 2.1 The Borrower hereby specifically reaffirms all of the Collateral Documents. The Borrower hereby confirms and agrees that the Collateral Documents secure the Loan Agreement as amended by this
Amendment. 
 ARTICLE 3. 
 MISCELLANEOUS; CONDITIONS TO EFFECTIVENESS 
 3.1 The Borrower represents
and warrants to the Agent and the Lenders (which representations and warranties will survive the execution of this Amendment) that, after giving effect to the waivers described herein, (i) all representations and warranties contained in the
Loan Agreement and the Collateral Documents are true and correct on and as of the date hereof as though made on and as of such date, except to the extent such representations and warranties specifically relate to an earlier date, in which case such
representations and warranties shall have been true and correct on and as of such earlier date, (ii) no event has occurred and is continuing 

  
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as of the date hereof which constitutes a Default or Event of Default, and (iii) there has not occurred any material adverse change in the Collateral or other assets, liabilities, financial
condition, business operations, affairs or circumstances of the Borrower and the Subsidiaries taken as a whole or any other information (financial or otherwise) provided or delivered by or on behalf of the Borrower upon which a Lender has relied or
utilized in making its decision to enter into this Amendment. 
 3.2 Except as expressly modified by this Amendment, all terms
and provisions of the Loan Agreement are hereby ratified and confirmed and shall be and shall remain in full force and effect, enforceable in accordance with its terms. 
 3.3 The Borrower agrees to pay on demand all costs and expenses of the Agent and the Lenders in connection with the preparation, reproduction, execution and delivery of this Amendment and the other
instruments and documents to be delivered hereunder (including the reasonable fees and expenses of counsel for the Agent). In addition, Borrower shall pay any and all stamp or other taxes, recordation fees and other fees payable in connection with
the execution, delivery, filing or recording of this Amendment and the other instruments and documents to be delivered hereunder and agrees to hold Agent and the Lenders harmless from and against any and all liabilities with respect to or resulting
from any delay or omission in paying such taxes or fees. 
 3.4 This Amendment may be executed in multiple separate
counterparts, and it shall not be necessary that the signatures of all parties hereto be contained on any one counterpart hereof; each party’s signature may appear on a separate counterpart but all such counterparts taken together shall
constitute one and the same instrument. The parties specifically confirm their intent to be bound by delivery of such signed counterparts by telecopier or pdf email. 
 3.5 The provisions of Article 1 of this Amendment shall become effective if and when, and only when, the Agent has received duly executed counterparts of this Amendment by all parties thereto. 

3.6 THIS AMENDMENT, TOGETHER WITH THE LOAN DOCUMENTS, AND ANY OTHER WRITTEN INSTRUMENTS EXECUTED PURSUANT TO THIS AMENDMENT REPRESENT,
COLLECTIVELY, THE FINAL AGREEMENT BETWEEN THE PARTIES HERETO WITH RESPECT TO THE SUBJECT HEREOF AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES AND SHALL SUPERSEDE ANY PRIOR AGREEMENT
BETWEEN THE PARTIES HEREOF, WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT HEREOF. 

  
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 THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 

3.7 The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of
any right, power or remedy of any Lender or the Agent under the Loan Agreement or any of the Collateral Documents, nor, except as expressly provided herein, constitute a waiver or amendment of any provision of the Loan Agreement or any of the
Collateral Documents. 
 3.8 Notwithstanding that such consent is not required under the guaranty agreements or the other
Collateral Documents, Endeavor and Diamond each consents to the execution and delivery of this Amendment by the parties hereto. As a material inducement to the Agent and the Banks to amend the Loan Agreement as set forth herein, Endeavor and Diamond
each (i) acknowledges and confirms the continuing existence, validity and effectiveness of its Restated Guaranty Agreement and each of the other Collateral Documents to which it is a party and (ii) agrees that the execution, delivery and
performance of this Amendment shall not in any way release, diminish, impair, reduce or otherwise affect its obligations thereunder. 
 [The rest of this page intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and
delivered by their proper and duly authorized officers as of the date first above written. 
  

									
	BORROWER:	 		 	GMX RESOURCES INC.
				
		 		 	By:	 	 /s/ James A. Merrill

		 		 		 	Name:	 	James A. Merrill
		 		 		 	Title:	 	Chief Financial Officer and Treasurer
			
	AGENT:	 		 	CAPITAL ONE, NATIONAL ASSOCIATION
				
		 		 	By:	 	 /s/ Nancy M. Mak

		 		 		 	Name:	 	Nancy M. Mak
		 		 		 	Title:	 	Vice President
			
	LENDERS:	 		 	CAPITAL ONE, NATIONAL ASSOCIATION,
		 		 	as a Lender
				
		 		 	By:	 	 /s/ Nancy M. Mak

		 		 		 	Name:	 	Nancy M. Mak
		 		 		 	Title:	 	Vice President
			
		 		 	BNP PARIBAS
				
		 		 	By:	 	 /s/ Courtney Kubesch

		 		 		 	Name:	 	Courtney Kubesch
		 		 		 	Title:	 	Vice President
				
		 		 	By:	 	 /s/ Edward Pak

		 		 		 	Name:	 	Edward Pak
		 		 		 	Title:	 	Director

  
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 AGREED TO AND ACKNOWLEDGED by the undersigned for the purposes set forth in Paragraph 3.8.

  

					
	ENDEAVOR PIPELINE INC.
		
	By:	 	 /s/ James A. Merrill

		 	Name:	 	James A. Merrill
		 	Title:	 	Vice President and Secretary
	
	DIAMOND BLUE DRILLING CO.
		
	By:	 	 /s/ James A. Merrill

		 	Name:	 	James A. Merrill
		 	Title:	 	Vice President and Secretary

  
 6Master Termination Agreement and Release

 Exhibit 10.1 
 EXECUTION VERSION 
 MASTER TERMINATION AGREEMENT AND RELEASE 

Master Termination Agreement and Release, dated as of March 21, 2011, (this “Agreement”) by and among: 

 

	(1)	 Merck & Co., Inc., a corporation organized under the laws of New Jersey, formerly known as Schering-Plough Corporation
(“Merck”); 

  

	(2)	 Merck Sharp & Dohme Corp., a corporation organized under the laws of New Jersey (formerly known as Merck & Co., Inc.) (“Old
Merck”); 

  

	(3)	 Sanofi-Aventis, a société anonyme organized under the laws of France (“Sanofi-Aventis”);

 -and- 
  

	(4)	 Merial Limited, a company limited by shares organized under the laws of England and domesticated in the State of Delaware, United States as Merial,
LLC, a limited liability company (“Merial”). 

 (Merck, Old Merck, Merial and Sanofi-Aventis are
hereinafter referred to individually as a “Party” and collectively as the “Parties”). 
 WHEREAS:

  

	(A)	 Merck and its Subsidiaries are engaged in the animal health business, including the discovery, development, manufacturing and sale of veterinary medicines in
all major food producing and companion animal species (collectively, the “I/SP Business”); 

  

	(B)	 Pursuant to that certain Call Option Agreement, dated as of July 29, 2009, by and among Merck, Sanofi-Aventis and Old Merck, as amended on
February 17, 2010 by Amendment No. 1 thereto, February 18, 2010 by Amendment No. 2 thereto, February 19, 2010 by Amendment No. 3 thereto and March 8, 2010 by Amendment No. 4 thereto (as so amended, the
“Call Option Agreement”), Merck granted to Sanofi-Aventis the right to conduct due diligence on the I/SP Business and the option (the “Call Right”), exercisable at the sole discretion of Sanofi-Aventis, to acquire
from Merck (by way of contribution to Merial) the I/SP Business in exchange for the issuance and transfer of 50% of the then-outstanding equity interests in Merial, such that Sanofi-Aventis and Merck would each own 50% of Merial as of the
consummation of such transactions; 

  

	(C)	 Merck, Sanofi-Aventis and Merial entered into that certain Contribution Agreement, dated as of March 30, 2010, as subsequently amended, as a consequence
of Sanofi-Aventis’ exercise of the Call Right (as so amended, the “Contribution Agreement”); 

  

	(D)	 The Parties wish to terminate the Call Option Agreement pursuant to Clauses 9.1.6 and 9.1.8(y) thereof; and 

 

	(E)	 The Parties wish to terminate the Contribution Agreement pursuant to Section 14.1.1 thereof. 

  
  

1 

 EXECUTION VERSION 

 

 Now, therefore, in consideration of the mutual covenants herein contained and for
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereto hereby covenant and agree as follows: 
  

	1	 Definitions 

 Capitalized terms used herein but not otherwise defined shall have the meaning set forth in the Contribution Agreement. 
  

	2	 Termination of Contribution Agreement 

  

	 	2.1	 The Parties agree that the Contribution Agreement is hereby terminated in accordance with Section 14.1.1 thereof. 

 

	 	2.2	 Pursuant to Section 14.2 of the Contribution Agreement, the Contribution Agreement is hereby void and of no further effect (except with respect to
Sections 14.2 and 17.2 and Article 18 thereof, which shall survive this termination and remain in full force and effect), without any liability to any Person in respect thereof or of the transactions contemplated thereby on the part of any Party
thereto, or any of their Affiliates or Representatives. 

  

	3	 Termination of Call Option Agreement 

  

	 	3.1	 The Parties agree that the Call Option Agreement is hereby terminated in accordance with Clauses 9.1.6 and 9.1.8(y) thereof.

  

	 	3.2	 Pursuant to Clause 9.2 of the Call Option Agreement, the Call Option Agreement is hereby void and of no further effect (except with respect to Clauses
9.2, 10 and 11 thereof, which shall survive this termination and remain in full force and effect), without any liability to any Person in respect thereof or of the transactions contemplated thereby on the part of any Party thereto, or any of their
Affiliates or Representatives. 

  

	4	 Announcements; Information 

  

	 	4.1	 No announcement or circular in connection with the existence or the subject matter of this Agreement shall be made or issued by or on behalf of any
Party without the prior written approval of the other Parties. This shall not affect any announcement or circular required by Law or any regulatory body or the rules of any recognized stock exchange on which the shares of any Party are listed, but
the Party with an obligation to make an announcement or issue a circular shall consult with the other Parties insofar as is reasonably practicable before complying with such an obligation. 

 

	 	4.2	 Notwithstanding the foregoing, each of Merck and Sanofi-Aventis shall issue a joint press release in the form attached as Exhibit A
hereto at a mutually agreed time following the execution of this Agreement. 

  

	 	4.3	 The Parties shall, where required by, or prudent under, the applicable rules, regulations or customs of any Public Authority that was heretofore
contacted by any Party in connection with the transactions contemplated by the Call Option Agreement or the Contribution Agreement, cooperate to jointly inform any such Public Authority of the

  
  

2 

 EXECUTION VERSION 

 

	 	 
termination of the Call Option Agreement and the Contribution Agreement and cooperate and use commercially reasonable efforts to resolve any inquiries from such Public Authority.

  

	5	 Representations and Warranties 

  

	 	5.1	 Each of the Parties represents and warrants to the others as follows: 

 

	 	5.1.1	 it is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation;

  

	 	5.1.2	 it is not in violation of any material provision of its organizational documents; 

 

	 	5.1.3	 the execution, delivery and performance by it of this Agreement and the consummation of the transactions contemplated hereby have been duly and validly
authorized by all necessary corporate proceedings and no other corporate proceeding on the part of it is necessary for the consummation by it of the transactions contemplated hereby; 

 

	 	5.1.4	 this Agreement has been duly and validly executed and delivered by it, and, assuming the due and valid execution and delivery by the other Parties,
constitutes a legal, valid and binding obligation of it enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, moratorium, reorganization or similar laws affecting the enforcement
of creditors’ rights generally; and 

  

	 	5.1.5	 the execution, delivery and performance by it of this Agreement and the consummation by it of the transactions contemplated hereby do not and will not
(i) contravene or conflict with the organizational or governing documents of it or (ii) conflict with or constitute a violation of any provision of any material law binding upon or applicable to it or any of its properties or assets.

  

	6	 Mutual Release 

  

	 	6.1	 Each of Merck and Old Merck, on behalf of themselves and their respective Subsidiaries and Affiliates, and the successors, assigns, agents,
representatives, stockholders, members, directors, managers, officers and employees of Merck, Old Merck and their respective Subsidiaries and Affiliates (collectively, the “Merck Releasors”), hereby irrevocably and unconditionally
release, settle, cancel, acquit, discharge and acknowledge to be fully satisfied, and covenant not to sue Sanofi-Aventis, Merial, any of their respective Subsidiaries and Affiliates, and the successors, assigns, agents, representatives,
stockholders, members, directors, managers, officers and employees of Sanofi-Aventis, Merial and their respective Subsidiaries and Affiliates (collectively, the “Sanofi Releasors”) from or in respect of any and all obligations,
covenants, arrangements, representations, warranties, understandings or agreements of the Sanofi Releasors pursuant to the terms of the Call Option Agreement or the Contribution Agreement (including, for the avoidance of doubt and without
limitation, any payment obligation of the Sanofi Releasors pursuant to Section 6.1.5 of the Call Option Agreement), of whatever kind and nature, whether known or unknown, contingent or otherwise; provided that such release shall not apply to
any continuing obligation of the 

  
  

3 

 EXECUTION VERSION 

 

	 	 
Sanofi Releasors under the Call Option Agreement or the Contribution Agreement which, by the terms of this Agreement, expressly survive the termination of the Call Option Agreement and the
Contribution Agreement. 

  

	 	6.2	 From and after the date hereof, the Merck Releasors shall not bring any action, suit or proceeding whatsoever against any of the Sanofi Releasors for
any matter or circumstance with respect to which the Merck Releasors have released the Sanofi Releasors under this Agreement. The Merck Releasors further agree not to encourage or suggest to any other Person that such Person institute any legal
action against the Sanofi Releasors with respect to any such matter or circumstance. 

  

	 	6.3	 The Sanofi Releasors hereby irrevocably and unconditionally release, settle, cancel, acquit, discharge and acknowledge to be fully satisfied, and
covenant not to sue the Merck Releasors from or in respect of any and all obligations, covenants, arrangements, representations, warranties, understandings or agreements of the Merck Releasors pursuant to the terms of the Call Option Agreement or
the Contribution Agreement (including, for the avoidance of doubt and without limitation, any payment obligation of the Merck Releasors pursuant to Section 11.1.2, 11.1.3 or 11.1.4 of the Call Option Agreement), of whatever kind and nature,
whether known or unknown, contingent or otherwise; provided that such release shall not apply to any continuing obligation of the Merck Releasors under the Call Option Agreement or the Contribution Agreement which, by the terms of this Agreement,
expressly survive the termination of the Call Option Agreement and the Contribution Agreement. 

  

	 	6.4	 From and after the date hereof, the Sanofi Releasors shall not bring any action, suit or proceeding whatsoever against any of the Merck Releasors for
any matter or circumstance with respect to which the Sanofi Releasors have released the Merck Releasors under this Agreement. The Sanofi Releasors further agree not to encourage or suggest to any other Person that such Person institute any legal
action against the Merck Releasors with respect to any such matter or circumstance. 

  

	7	 Governing Law 

 This Agreement shall be governed in all respects by, and construed in accordance with, the Laws of the State of New York (without giving effect to its principles of conflicts of laws, to the extent such principles
would require or permit the application of the Laws of a state other than the State of New York). Any claim, action or dispute against any Party to this Agreement arising out of or in any way relating to this Agreement shall be brought in the courts
of the State of New York located in the City and County of New York or, in the event (but only in the event) that such courts do not have subject matter jurisdiction over such claim, action or dispute, in the Federal Courts of the United States
sitting in the State, County and City of New York. Each of the Parties hereby irrevocably submits to the exclusive jurisdiction of such courts for the purpose of any such claim, action or dispute; provided, however, that a final judgment in any such
claim, action or dispute shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law. Each Party irrevocably waives and unconditionally agrees not to assert, by way of a motion, as a
defense, counterclaim or otherwise, in any action or proceeding with respect to this Agreement (i) any objection that it may ever have that the laying of venue of any such claim, action or dispute in any federal or state court located in the
above-named state or city is improper, (ii) any objection that any such claim, action or dispute 

  
  

4 

 EXECUTION VERSION 

 

 
brought in any of the above named courts has been brought in an inconvenient forum or (iii) any claim that it is not personally subject to the jurisdiction of the above-named courts.

  

	8	 Waiver of Jury Trial 

 Each Party acknowledges and agrees that any controversy which may arise under this Agreement is likely to involve complicated and difficult issues, and therefore each Party hereby irrevocably and unconditionally
waives any right such Party may have to a trial by jury in respect of any Litigation directly or indirectly arising out of or relating to this Agreement. Each Party certifies and acknowledges that (i) no representative, agent or attorney of any
other Party has represented, expressly or otherwise, that such other Party would not, in the event of Litigation, seek to enforce the foregoing waiver; (ii) each Party understands and has considered the implications of this waiver;
(iii) each Party makes this waiver voluntarily; and (iv) each Party has been induced to enter into this Agreement by, among other things, the mutual waivers and certifications in this paragraph. 

 

	9	 Counterparts 

 This Agreement may be executed in several counterparts (including by facsimile or other electronic transmission), each of which shall be deemed an original and all of which shall together constitute one and the
same instrument. 
  

	10	 Binding Effect 

 This Agreement shall be binding upon and inure to the benefit of the Parties and their respective heirs, successors and permitted assigns. 

  
  

5 

 EXECUTION VERSION 

 

 In Witness Whereof, the Parties hereto have duly executed this Master Termination Agreement
and Mutual Release as of the date first above written. 
  
  

			
	MERCK & CO., INC.
		
	 By:
	 	 /s/ Peter N. Kellogg

		 	 Name: Peter N. Kellogg

		 	 Title: Chief Financial Officer

	
	MERCK SHARP & DOHME CORP.
		
	 By:
	 	 /s/ Peter N. Kellogg

		 	 Name: Peter N. Kellogg

		 	 Title: Chief Financial Officer

	
	SANOFI-AVENTIS
		
	 By:
	 	 /s/ Karen Linehan

		 	 Name: Karen Linehan

		 	 Title: Senior Vice President, Legal Affairs & General Counsel

	
	MERIAL LIMITED
		
	 By:
	 	 /s/ José Barella

		 	 Name: José Barella

		 	 Title: Chief Executive Officer

  
  

6 

 EXECUTION VERSION 

 

 Exhibit A 
 Joint Press Release 

  
  

7

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