Document:

Phase I Contract Services Agreement - Toyota Motor Corporation

 Exhibit 10.47 
 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 
 TESLA AND TMC CONFIDENTIAL
INFORMATION 
 EXECUTION VERSION 
 PHASE 1 CONTRACT SERVICES AGREEMENT 
 This PHASE 1 CONTRACT SERVICES
AGREEMENT (“Agreement”) is made and entered into as of this October 6, 2010 (“Effective Date”) by and between Toyota Motor Corporation, a Japanese corporation, with offices at 1 Toyota-cho, Toyota, Aichi
471-8571, Japan (“TMC”), and Tesla Motors, Inc., a Delaware corporation, with offices at 3500 Deer Creek Road, Palo Alto, CA 94304, U.S.A. (“Tesla”). TMC and Tesla may be referred to herein each individually as a
“Party” and collectively as the “Parties”. 
 RECITALS 

A. Tesla has pre-existing technology and intellectual property rights relating to powertrain systems for Electric Vehicles (as defined
below); 
 B. TMC has pre-existing technology and intellectual property rights relating to the manufacturing, operating and
selling of a variety of vehicles; 
 C. The Parties wish to work together to develop Electric Vehicles based on the TMC RAV4
platform (“RAV4 Platform”) and the Tesla Powertrain System (as defined below) (the “Project”); 
 D. The Parties have executed that certain Prototype Lease to Use and Services Agreement, dated July 15, 2010, regarding Phase 0 pursuant to which Tesla will (a) lease to TMC and its Affiliates
(as defined below) for their use operational prototype Phase-0 Electric Vehicles of the RAV4 Platform that Tesla will equip with the existing Tesla Powertrain System, and (b) provide services to customize RAV4 Platforms owned by TMC or one of
its Affiliates to equip such RAV4 Platforms with the existing Tesla Powertrain System; 
 E. Phase 1 involves more comprehensive
integration of the Tesla Powertrain System into the RAV4 Platform which integration will involve developing certain interfaces and technology between the Tesla Powertrain System and RAV4 Platform and is likely to require certain modifications to the
core Tesla Powertrain System and the RAV4 Platform. The result from Phase 1 will be an Electric Vehicle version of the RAV4 Platform (“RAV4 EV”) that can be manufactured at scale; and 

F. The Parties have agreed to negotiate a separate agreement regarding the supply and manufacture of the RAV4 EV (the
“Manufacturing and Supply Agreement”). 

  
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 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. 

 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 

EXECUTION VERSION 
  

 NOW, THEREFORE, in consideration of the mutual promises contained herein, the Parties
agree as follows: 
 1. DEFINITIONS 
 (a) “Affiliate” shall mean, with respect to any Party, any other party directly or indirectly controlling, controlled by, or under common control with such Party. For purposes of this
definition, “control” when used with respect to any entity means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such entity, whether through the ownership of at least
fifty percent (50%) of voting securities, by contract or otherwise; the terms “controlling” and “controlled” have meanings correlative to the foregoing. An entity will cease to be an Affiliate if such control relationship no
longer exists. TMC’s Affiliate shall include TTC, TEMA, TMS and TMMC, and the expression “TMC” in this Agreement may be interpreted to refer also to any one of TMC’s Affiliates whenever circumstance requires, and for avoidance of
doubt, for purposes of receiving rights under Sections 3 and 4 references to “TMC” includes all of TMC’s Affiliates. 
 (b) “Background Technology” shall mean all Technology that: (i) was developed, conceived or owned by a Party prior to the Effective Date; or (ii) is conceived or reduced to
practice by a Party outside its performance under this Agreement. 
 (c) “Business Day” shall mean any day,
other than a Saturday or Sunday, on which banks are open for business in San Francisco, California and Tokyo, Japan. 
 (d)
“Confidential Information” shall mean any information disclosed pursuant to this Agreement by one Party to the other Party during the term of this Agreement which is in written, graphic, machine readable or other tangible form and
is marked “Confidential,” “Proprietary” or in some other manner to indicate its confidential nature, or is otherwise disclosed under circumstances that reasonably indicate that the information being disclosed is confidential to
the disclosing Party. Confidential Information may also include oral information disclosed by one Party to the other Party in the course of the performance of this Agreement or information observed during the course of the development and technology
sharing activities contemplated by this Agreement. To the extent practicable, such information shall be designated as confidential at the time of disclosure and reduced to a written summary, which is marked in a manner to indicate its confidential
nature and delivered to the receiving Party, within thirty (30) calendar days after its oral disclosure. As used herein, “Confidential Information” may include, without limitation, the Tesla Technology, the TMC Technology, Qualified
Disclosures, and documents relating to the development, manufacturing, testing, and marketing of the Prototype Powertrain Systems, RAV4 Platform, and RAV4 EV which were disclosed by either Party to the other Party, orally, in writing or by drawings
or which were obtained through inspection of parts of, or equipment for, any of the foregoing. For avoidance of doubt, all Restricted Disclosures are Confidential Information of the Party that makes the disclosure. 

  
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 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. 

 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 

EXECUTION VERSION 
  

 (e) “Deliverables” shall mean the Prototype Powertrain Systems as well
as any tangible items to be delivered by Tesla or TMC, as the case may be, in the performance of the work described in the Statement of Work and Deliverables Schedule. The Deliverables include the Initial Deliverables set forth in the Initial
Statement of Work. 
 (f) “Deliverables Schedule” shall mean the schedule, including Delivery Dates, for the
Deliverables other than the Initial Deliverables and the payments and Delivery Dates associated with such Initial Deliverables, to be mutually agreed upon by the Parties and incorporated herein by reference. 

(g) “Delivery Dates” shall mean the scheduled completion dates for particular Deliverables as set forth in the
Deliverables Schedule. 
 (h) “Electric Vehicles” shall mean vehicles that are powered by the Tesla Powertrain
System. 
 (i) “Errors” shall mean any material failures or deviations in a Deliverable as measured against the
Initial Statement of Work and Specification or Final Specifications, as the case may be. 
 (j) “Final
Specifications” shall mean the mutually agreed upon technical and other specifications for the Prototype Powertrain Systems, RAV4 EV and Phase 1 of the Project, which shall include, without limitation, the TMC EV Spec Book as such Final
Specifications may be revised pursuant to Section 2(e) to be mutually agreed upon by the Parties and incorporated herein by reference. 
 (k) “Final Statement of Work” shall mean the description of work to be performed under this Agreement to be mutually agreed upon by the Parties which will be incorporated into this
Agreement by reference and may be revised pursuant to Section 2(e). 
 (l) “Foreground Technology” shall
mean any and all Technology first conceived, developed or reduced to tangible form or practice under this Agreement. 
 (m)
“Initial Deliverables” shall mean the tangible items to be delivered by Tesla in connection with the performance of the work described in the Initial Statement of Work and Specification as mutually agreed upon by the Parties in
writing. 
 (n) “Initial Statement of Work and Specification” shall mean the description of the initial work to
be performed under this Agreement and the technical and other specifications for such work, all as mutually agreed by the Parties in writing. 
 (o) “Intellectual Property Rights” shall mean all rights in or arising under (i) any Patents; (ii) all copyrights in both published and unpublished works, all registrations and
applications therefor and all associated moral rights; (iii) all know-how, Trade Secrets, inventions 

  
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 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. 

 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 

EXECUTION VERSION 
  

 
(whether patented or not), confidential information, software, technical information, data, process technology, plans, drawings and blueprints required to be disclosed by either Party to the
other Party; and (iv) databases, data compilations and collections and technical data; and (v) any other similar rights in or arising worldwide, in each case, whether arising under the laws of the United States or any other state, country,
or jurisdiction. 
 (p) “Inventions” shall mean any discovery, invention or improvement first developed,
conceived or reduced to practice or to tangible form pursuant to this Agreement. 
 (q) “Jointly-Developed
Technology” shall mean Foreground Technology that is created, conceived, authored or invented jointly by at least one Person from each of the Parties who is Personnel within the definition in this Agreement. 

(r) “Non-Powertrain Technology” shall mean all Technology other than Powertrain Technology, including without
limitation, the Technology set forth on Exhibit C. 
 (s) “Non-Qualified Jointly-Developed Technology”
shall mean all Jointly-Developed Technology that is not Qualified Jointly-Developed Technology. 
 (t)
“Patents” shall mean all classes or types of patents, utility models and design patents including, without limitation, originals, divisions, continuations, continuations-in-part, extensions or reissues and patent applications for
these classes or types of patent rights, in all countries of the world. 
 (u) “Person” shall mean any natural
person, general partnership, limited partnership, corporation, joint venture, trust, business trust, limited liability company, cooperative, association or other form of organization. 

(v) “Personnel” when used with reference to either Party, shall mean such Party’s employees, agents or other third
parties acting under the authority from such Party working on matters relating to performance under this Agreement. 
 (w)
“Powertrain Technology” shall mean all Technology set forth on Exhibit B and other Technology mutually agreed by the Parties in writing. 
 (x) “Project” shall have the meaning set forth in the Recitals. 

(y) “Project Manager” shall have the meaning set forth in Section 2(h). 

(z) “Prototype Powertrain Systems” shall mean the Prototype Powertrain Systems identified in the Deliverables Schedule.

 (aa) “Qualified Disclosure” shall mean (i) all oral disclosures by one Party to the other Party, and
(ii) all disclosures that are not Restricted Disclosures. 

  
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 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. 

 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 

EXECUTION VERSION 
  

 (bb) “Qualified Jointly-Developed Technology” shall have the meaning
set forth in Section 3(b)(i). 
 (cc) “RAV4 EV” shall mean the Electric Vehicle version of the RAV4
Platform. 
 (dd) “RAV4 EV Powertrain System” shall mean the Tesla Powertrain System as customized for use in
the RAV4 EV in accordance with the Final Statement of Work. 
 (ee) “Restricted Disclosure” shall mean
(i) any information that is not disclosed pursuant to this Agreement, (ii) a Restricted Written Disclosure, and (iii) the specific Toyota vehicles or components that TMC provides to Tesla under this Agreement. For avoidance of doubt,
inclusion of subsection (iii) as Restricted Disclosure in no way limits Tesla’s rights vis a vis any Toyota vehicles that are not specifically provided to it under this Agreement which Tesla acquires from the market. 

(ff) “Restricted Written Disclosure” shall mean any written information that is expressly and clearly marked
“RESTRICTED” by the disclosing Party. 
 (gg) “Services” shall mean the services provided by Tesla
under the terms of this Agreement. 
 (hh) “Technology” shall mean inventions, technology, discoveries,
improvements, processes, designs, ideas, know-how, notes, memoranda and documentation. 
 (ii) “TEMA” shall
mean Toyota Engineering and Manufacturing North America, Inc. 
 (jj) “Tesla Background Technology” shall mean
Background Technology that is Tesla’s including, without limitation, all of the Tesla Background Technology related to Tesla Vehicles and Tesla Background Technology related to the Tesla Powertrain System as described on Exhibit A.

 (kk) “Tesla Foreground Technology” shall mean (i) all Foreground Technology created, conceived,
authored or invented solely by Tesla and its Personnel in connection with performance under this Agreement; and (ii) all Non-Qualified Jointly-Developed Technology that is Powertrain Technology. 

(ll) “Tesla Powertrain System” shall mean the Tesla electric powertrain system which is comprised of the following
components: (i) drive inverter; (ii) AC induction motor; (iii) single speed gearbox; (iv) charger; (v) lithium-ion battery pack; (vi) thermal management system; and (vii) powertrain system communication and
controls. 
 (mm) “Tesla Subsidiary” shall mean a subsidiary wholly owned by Tesla; provided, however, that
local minority ownership is permitted to the extent necessary to comply with local law, and provided further that such local minority interest shall not involve a competitor of TMC without TMC’s prior written approval. 

  
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 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. 

 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 

EXECUTION VERSION 
  

 (nn) “Tesla Technology” shall mean all Tesla Background Technology and
Tesla Foreground Technology. 
 (oo) “Tesla Vehicles” shall mean the Tesla Roadster, Tesla Model S and all
other Tesla-branded vehicles. 
 (pp) “TMC Background Technology” shall mean TMC’s or its Affiliate’s
Background Technology. 
 (qq) “TMC Foreground Technology” shall mean (i) all Foreground Technology
created, conceived, authored or invented solely by TMC and/or a TMC Affiliate and their respective Personnel in connection with performance under this Agreement; and (ii) all Non-Qualified Jointly-Developed Technology that is Non-Powertrain
Technology. 
 (rr) “TMC EV Spec Book” shall have the meaning set forth in Section 2(a). 

(ss) “TMC Technology” shall mean all TMC Background Technology and TMC Foreground Technology. 

(tt) “TMMC” shall mean Toyota Motor Manufacturing Canada Inc. 

(uu) “TMS” shall mean Toyota Motor Sales, U.S.A., Inc. 

(vv) “TTC” shall mean Toyota Technical Center, a division of TEMA. 

(ww) “Trade Secrets” shall mean any Technology or other information that (i) derives independent economic value,
actual or potential, from not being generally known to the public or to other persons who could obtain economic value from its disclosure or use; and (ii) is the subject of efforts that are reasonable under the circumstances to maintain its
secrecy. Without limiting the generality of the foregoing, Trade Secrets include business information such as information set out in, or relating to, cost data, pricing practices and policies, marketing practices and policies, licensing practices
and policies, and the identity and location of past, present, and prospective suppliers and customers. 
 2. SERVICES 

(a) Finalizing the Final Specifications. The Parties agree that the Final Specifications, Deliverables and payment schedule for
the Deliverables have not been definitively agreed to as of the Effective Date. The Parties will finalize and mutually agree upon the Final Specifications, Deliverables and payment schedule for the Deliverables within sixty (60) calendar days
of the Effective Date. The Final Specifications as mutually agreed to by the Parties shall reference TMC’s EV Spec Book to be separately provided to Tesla hereunder for use in developing the RAV4 EV Powertrain System (“TMC EV Spec
Book”). 

  
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 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. 

 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 

EXECUTION VERSION 
  

 (b) Development. Each of the Parties shall use its commercially reasonable
efforts to perform the Services and deliver the Deliverables in accordance with the Initial Statement of Work and Specification or Final Specifications, as the case may be. For avoidance of doubt, the Initial Statement of Work and Specification and
the Final Specifications shall contain the full and complete statements of the requirements for the Deliverables and no additional requirements shall alter the requirements for the Deliverables unless mutually agreed to by the Parties pursuant to
the process set forth in Section 2(e). Unless otherwise designated in the Initial Statement of Work and Specification or Final Statement of Work, each Party shall have the right to sub-contract all or part of its development obligations under
this Agreement; provided that said subcontractors are bound to observe the provisions of this Agreement, and that the delegating Party is liable in the event that subcontractors violate the provisions of this Agreement (whether or not such person or
entity is a Party). 
 (c) Delivery Dates. Each Party (the “Performing Party”) shall use commercially
reasonable efforts to complete and deliver its Deliverables by the Delivery Date set forth in the Deliverables Schedule. The Performing Party agrees to notify the other Party (the “Receiving Party”) of any circumstances when and as
they arise, that may lead to a deviation from such Delivery Date. If Performing Party is not be able to complete performance according to the Initial Statement of Work and Specification or Final Statement of Work, as the case may be, due to the
Receiving Party’s inability to deliver information necessary for the Performing Party to meet its obligations under the Initial Statement of Work and Specification or the Final Statement of Work, as the case may be, the scheduled date on which
a Deliverable was due will be extended for the time of the delay to meet a Delivery Date for a Deliverable or other required performance which is delayed on account of failure of the Receiving Party to complete a prerequisite performance or deliver
prerequisite material in timely fashion. Deliverables shall be delivered in such format and on such media as set forth in the Initial Statement of Work and Specification or Final Statement of Work, as the case may be, or as the Parties may mutually
agree upon in writing. The Performing Party will notify the Receiving Party in writing as soon as reasonably possible, if it will not be able to deliver a Deliverable within the timeframe set forth in the Deliverables Schedule together with the
reason for its inability to do so. 
 (d) Acceptance Process. 

(i) Acceptance of Non-Prototype Powertrain Systems Deliverables. Upon delivery of a Deliverable (including,
without limitation, the Initial Deliverables) by the Performing Party to the Receiving Party, to the extent that the Deliverable is subject to acceptance, the Receiving Party will test whether the Deliverable conforms in all material respects to the
applicable part of the Initial Statement of Work and Specification or Final Specifications, as the case may be. Excluding Deliverables which are Prototype Powertrain Systems, the Receiving Party will accept or reject each Deliverable within fifteen
(15) Business Days after delivery and will give the Performing Party written notice of acceptance or rejection thereof, provided however, in the event that a notice of rejection is not received by the Performing Party within the fifteenth
(15 th) Business Day period, the

  
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 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 

EXECUTION VERSION 
  

 
Deliverable shall be deemed to have been accepted by the Receiving Party at the close of business on the fifteenth (15th) Business Day of the period. In the event that a Deliverable contains an Error, the Receiving Party shall have
the right to reject the Deliverable and provide written notice to the Performing Party describing the Error in sufficient detail to allow the Performing Party to reproduce the Error. The Performing Party will use commercially reasonable efforts to
correct the Errors so that the Deliverable conforms to the applicable part of the Initial Statement of Work and Specification or Final Specifications, as the case may be, and shall use commercially reasonable efforts to do so within fifteen
(15) Business Days of receiving each of the Receiving Party’s written notices regarding the Errors. At the Receiving Party’s request, the procedure in this Section 2(d)(i) will be repeated with respect to a revised Deliverable to
determine whether it is acceptable to the Receiving Party, unless and until the Receiving Party issues to the Performing Party a final rejection of the revised Deliverable after rejecting the Deliverable on at least three (3) prior occasions.

 (ii) Acceptance of Prototype Powertrain Systems Deliverables. Upon delivery of a Deliverable,
which is a Prototype Powertrain System, by Tesla to TMC, TMC will test whether the Deliverable conforms in all material respects to the applicable part of the Initial Statement of Work and Specification or Final Specifications, as the case may be.
TMC will accept or reject each Deliverable within thirty (30) calendar days after delivery and will give Tesla written notice of acceptance or rejection thereof, provided however, in the event that a notice of rejection is not received by Tesla
within the thirtieth (30 th) calendar day period, the
Deliverable shall be deemed to have been accepted by TMC at the close of business on the thirtieth (30th) day of the period. In the event that a Deliverable contains an Error, TMC shall have the right to reject the Deliverable and provide written notice to Tesla describing the Error in sufficient
detail to allow Tesla to reproduce the Error. Tesla will use commercially reasonable efforts to correct the Errors so that the Deliverable conforms to the applicable part of the Initial Statement of Work and Specification or Final Specifications, as
the case may be, and shall use commercially reasonable efforts to do so within thirty (30) calendar days of receiving each of TMC’s written notices regarding the Errors. At TMC’s request, the procedure in this Section 2(d)(ii)
will be repeated with respect to a revised Deliverable to determine whether it is acceptable to TMC, unless and until TMC issues to Tesla a final rejection of the revised Deliverable after rejecting the Deliverable on at least three (3) prior
occasions. If a Party issues a final rejection of the revised Deliverable pursuant to Sections 2(d)(i) or 2(d)(ii), the Receiving Party’s sole remedy and the Performing Party’s sole liability under this Agreement shall be (1) in the
case of TMC as the Receiving Party, to withhold payment for the rejected Deliverable only and/or terminate this Agreement by providing written notice to Tesla, such notice to be effective upon Tesla’s receipt, and (2) in the case of Tesla
as the Receiving Party, to terminate this Agreement by providing written notice to TMC, such notice to be effective upon TMC’s receipt. For avoidance of doubt, Tesla’s right to payments under Section 5 that accrued as of the date of
termination of this Agreement, shall survive in all cases. 
 (e) Change Order Process. The Parties recognize and
acknowledge that the Final Specifications and Final Statement of Work may need to be revised as the work described therein continues. The Parties shall cooperate and work in good faith to adapt any such revisions as needed

  
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 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. 

 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 

EXECUTION VERSION 
  

 
in accordance with the procedure set forth in this Section 2(e). Either Party may submit to the other Party proposed changes, modifications, alternations or other adjustments to the Final
Specifications or Final Statement of Work with the effect of the proposal on dates in the Final Statement of Work and/or estimated costs (“Change Request”). Upon the receipt of any Change Request, the receiving Party will provide
written comments to requesting Party within fourteen (14) calendar days including comments on whether the changes to the Final Specifications, Final Statement of Work (including dates therein) and costs will be acceptable. The Parties will
negotiate in good faith regarding the proposed changes. Once the Parties agree in writing on the terms of the Change Request, the Change Request shall be effective. Each Party agrees to be reasonable in implementing the Change Order process
described in this Section 2(e). 
 (f) Designation of Line Items as Powertrain or Non-Powertrain. For each of the
line items of work listed in the Initial Statement of Work and Specification and for each of the line items of work listed in the Final Specifications and Final Statement of Work, the Parties shall mutually agree in writing on whether each such line
item is comprised of Powertrain Technology or Non-Powertrain Technology. The Parties shall work together in good faith to make such designations and shall use the lists of Powertrain Technology and Non-Powertrain Technology set forth in the
Exhibits B and C hereto as a guide when making such assignments. The Parties shall also designate the line items in any Change Order as Powertrain or Non-Powertrain and no Change Order shall be approved unless such designation has been
made. 
 (g) Process for Provision and Receipt of Restricted Written Disclosures. 

(i) Each Party shall designate a minimum of two (2) individuals in their respective organizations (each a “Restricted
Written Disclosure Managers” or “RDMs”) who will be responsible for managing the acceptance or return of Restricted Written Disclosures that the other Party wishes to supply. The initial RDMs for Tesla shall be Mateo
Jaramillo and Mike Taylor. The initial RDMs for TMC shall be Edward Mantey and Seiya Nakao. Each Party may change its RDMs at any time by providing written notice to the other Party. 

(ii) If a Party (for the purpose of this Section the “Disclosing Party”) wishes to provide the other Party
(“Receiving Party”) with a written document that the Disclosing Party deems to be in part or in full a Restricted Written Disclosure one representative of the Disclosing Party shall send the Restricted Written Disclosure to the RDMs
for the other Party via the Bulletin Board Service (“BBS”) or other mechanism mutually agreed to by the Parties. Each Restricted Written Disclosure transmitted shall prominently display the legend “RESTRICTED DISCLOSURE”
at the top of each page of the document if the document as a whole is restricted or next to those sections of the document that are restricted if only portions of the document are restricted. The email in which the Restricted Written Disclosure is
appended shall include “RESTRICTED DISCLOSURE” in the subject line for the email. The RDM for the Receiving Party shall review the Restricted Written Disclosure and, within three (3) Business Days of receiving the document, shall in a
written response to the Disclosing Party sent via the BBS or other agreed upon mechanism, either (i) accept the document or portions thereof which were marked as such as a 

  
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 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
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 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 

EXECUTION VERSION 
  

 
Restricted Written Disclosure, or (ii) notify the Disclosing Party that it does not agree that the document qualifies as a Restricted Written Disclosure and is challenging the designation.
The RDMs for the Parties will discuss their respective positions regarding the matter and attempt to resolve the disagreement in good faith. If the RDMs for the Parties are unable to agree on the treatment of the document or portion thereof, the
Receiving Party shall have the right to return the Restricted Written Disclosure to the Disclosing Party via the BBS or the other agreed upon mechanism along with a written note indicating that the Restricted Written Disclosure is being returned.
Any Restricted Written Disclosure that is returned to the Disclosing Party shall only have been reviewed by the Receiving Party’s RDMs and shall not have been copied, distributed or otherwise disseminated to any other Receiving Party personnel
or third parties. All documents provided to the Receiving Party’s RDMs via the BBS (or other mechanism mutually agreement to by the Parties) with the markings described above shall be deemed “Restricted Written Disclosures”.

 (iii) For avoidance of doubt, unless otherwise mutually agreed to by the Parties in writing: 

(1) If a Disclosing Party provides a written disclosure to the other Party outside the process described in this Section 2(g) that
written disclosure can never be deemed a Restricted Written Disclosure. Any document that is provided by a Disclosing Party to the other Party which document includes a Restricted Written Disclosure legend but is not provided through the
above-described process will be deemed to be a Qualified Disclosure. Moreover, a Disclosing Party may not go through the process in this Section 2(g) after it has already provided a Qualified Disclosure to the other side outside of this process
and ask for the disclosure to be retroactively designated a Restricted Written Disclosure. 
 (2) If a Disclosing Party first
provides information to the other Party orally and later documents put the same oral information in a written document, that document cannot become a Restricted Written Disclosure. 

(h) Project Managers. Each Party agrees to appoint a project manager (“Project Manager”) who shall be the
principal point of contact to whom all communications between the Parties with respect to the collaboration and development activities under this Agreement shall be directed. The initial Project Manager for Tesla shall be Mr. Diarmuid
O’Connell, and the initial Project Manager for TMC shall be Mr. Shinya Kotera. Each Party may change its Project Manager at any time by providing written notice to the other Party. Each Project Manager may appoint a designee to act on the
Project Manager’s behalf for certain tasks by providing written notice to the other Party, provided such designee shall not have the authority to act on its Project Manager’s behalf until such written notice has been provided to the other
Party. The Project Managers shall hold periodic meetings to discuss the progress of the Project. 
 (i) NHTSA Testing / FMVSS
Compliance. TMC will be responsible for NHTSA testing and FMVSS compliance testing for the RAV4 EV and Tesla will provide all commercially reasonable assistance in connection with such testing. 

  
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 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. 

 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 

EXECUTION VERSION 
  

 3. OWNERSHIP 
 (a) General Principles. Each Party shall continue to own all of its Technology and Intellectual Property Rights and nothing set forth in this Agreement is intended to, or will transfer ownership of
any Technology or Intellectual Property Rights of one Party to the other Party. Except as expressly set forth in Section 4 (License Grants) nothing in this Agreement is intended to grant or will grant one Party any licenses to the Technology or
Intellectual Property Rights of the other Party. The delivery or transfer of title to any tangible Deliverable by one Party to the other Party shall not imply any grant of any rights or licenses to the Technology or Intellectual Property Rights
embodied therein. Without limiting the foregoing: 
 (i) Tesla Ownership. Tesla and/or Tesla Subsidiaries own all right,
title and interest in the Tesla Technology and all Intellectual Property Rights in Tesla Technology. 
 (ii) TMC
Ownership. TMC and/or its Affiliates own and shall own all right, title and interest in all Deliverables accepted pursuant to Section 2(d) and paid for pursuant to Section 5, the TMC Technology, and all Intellectual Property Rights in
the TMC Technology. 
 (b) Jointly-Developed Technology. 

(i) Ownership of Qualified Jointly-Developed Technology. During the term of this Agreement either Party may provide the other
Party with written notice that it desires to develop Jointly-Developed Technology with the other Party. If the Parties agree in writing to develop such Jointly-Developed Technology, each Party will have an equal and undivided one-half
(1/2) joint ownership interest in all such Jointly-Developed Technology created, conceived, authored or invented jointly by the Parties (“Qualified Jointly-Developed Technology”). For avoidance of doubt, neither Party is
obligated to agree to any such joint development proposal. Neither Party shall have any duty of accounting to the other Party with respect to its joint ownership interest in any Qualified Jointly-Developed Technology. 

(ii) Non-Qualified Jointly-Developed Technology. If the Parties do not agree pursuant to Section 3(b)(i) to jointly develop
Qualified Jointly-Developed Technology, such Technology shall be deemed “Non-Qualified Jointly-Developed Technology” to which the following shall apply: 

(1) TMC shall own all right, title and interests in all Non-Qualified Jointly-Developed Technology that is Non-Powertrain
Technology; and 
 (2) Tesla and/or Tesla Subsidiaries shall own all right, title and interests in all
Non-Qualified Jointly-Developed Technology that is Powertrain Technology. 
 (iii) Patent Rights. Any Patents resulting
from Inventions that are embodied in any of the following shall be jointly owned: (1) the Qualified Jointly-Developed Technology and which 

  
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EXECUTION VERSION 
  

 
Inventions were made by two or more Personnel jointly with at least one of the inventors having a duty to assign rights in an Invention to Tesla and/or Tesla Subsidiaries, and at least one of the
inventors having a duty to assign rights in an Invention to TMC or a TMC Affiliate, or (2) the Payment Technology (subsections (1) and (2), collectively, the “Joint Patents”). Each Party shall own a one-half
(1/2) undivided interest in each such Joint Patent without accounting to the other Party. 
 (iv) Payment for Foreground
Technology that is Non-Powertrain Technology. Notwithstanding anything to the contrary in this Agreement, if a Party pays for the development of any Foreground Technology that is Non-Powertrain Technology (and such Foreground Technology that is
Non-Powertrain Technology is created, conceived, authored or invented solely by the Party receiving such payment), then each Party will have an equal and undivided one-half (1/2) joint ownership interest in all such Foreground Technology that
is Non-Powertrain Technology (“Payment Technology”). The Party receiving such payment hereby irrevocably transfers, conveys and assigns to such paying Party a one-half (1/2) joint ownership interest in and to the Payment
Technology, including a one-half (1/2) interest in all Intellectual Property Rights therein. Neither Party shall have any duty of accounting to the other Party with respect to its joint ownership interest in any Payment Technology. 

(v) Limitations on Use of Qualified Jointly-Developed Technology and Payment Technology. Each Party’s right to use and
exploit the Qualified Jointly-Developed Technology and Payment Technology shall be subject to its obligations to keep the Qualified Jointly-Developed Technology and Payment Technology confidential according to the terms of Section 6.
Notwithstanding anything to the contrary in this Agreement: 
 (1) each Party shall have the right to freely use
and exploit the Qualified Jointly-Developed Technology that is Powertrain Technology and all Intellectual Property Rights therein; 
 (2) TMC shall have the right to freely use and exploit the Qualified Jointly-Developed Technology that is Non-Powertrain Technology, Payment Technology, and all Intellectual Property Rights in the
foregoing; and 
 (3) Tesla shall have the right to freely use and exploit the Qualified Jointly-Developed
Technology that is Non-Powertrain Technology, Payment Technology, and all Intellectual Property Rights in the foregoing for any purpose related to Tesla’s development, manufacture and sale of Tesla Vehicles. 

(vi) No Implied Rights or Licenses. Joint ownership of the Qualified Jointly-Developed Technology and Payment Technology does not
confer any other rights or licenses in either Party’s Technology or Intellectual Property Rights even if such additional rights or licenses are required in order for the other Party to practice or use the Qualified Jointly-Developed Technology,
Payment Technology and/or the Intellectual Property Rights therein. 

  
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EXECUTION VERSION 
  

 4. LICENSE GRANTS 
 (a) Licenses to Perform Under this Agreement. 
 (i) License to TMC.
Subject to the terms and conditions of this Agreement, Tesla hereby grants TMC a limited, worldwide, non-exclusive, royalty-free, fully paid-up, non-transferable, non sub-licensable right and license to use the Tesla Technology and all Intellectual
Property Rights therein for the purposes of evaluating, operating and using the Deliverables, performing its obligations under this Agreement, and exercising its rights under this Agreement. 

(ii) License to Tesla. Subject to the terms and conditions of this Agreement, TMC hereby grants Tesla and Tesla Subsidiaries a
limited, worldwide, non-exclusive, royalty-free, fully paid-up, non-transferable, non sub-licensable right and license to use the TMC Technology and all Intellectual Property Rights therein for the purposes of evaluating, operating and using the
Deliverables, performing its obligations under this Agreement, and exercising its rights under this Agreement. 
 (b)
Licenses to Powertrain Technology. 
 (i) License to TMC Foreground Technology that is Powertrain Technology.
Subject to the terms and conditions of this Agreement, TMC hereby grants Tesla and Tesla Subsidiaries a limited, worldwide, non-exclusive, royalty-free, fully paid-up right and license to all TMC Foreground Technology that is Powertrain Technology
and is a Qualified Disclosure and all Intellectual Property Rights therein (except Patents) to use, perform, display, reproduce, create derivative works, make, have made, use, sell (directly or indirectly), offer for sale or disposition, import,
dispose and otherwise exploit such TMC Foreground Technology that is Powertrain Technology and is a Qualified Disclosure for any purpose including, without limitation, in its electric vehicle business and in performing services for its customers.
The foregoing license shall be fully transferable and sublicenseable. 
 (ii) License to TMC Background Technology that is
Powertrain Technology. Subject to the terms and conditions of this Agreement, TMC hereby grants Tesla and Tesla Subsidiaries a limited, worldwide, non-exclusive, royalty-free, fully paid-up right and license to all TMC Background Technology that
is Powertrain Technology and is a Qualified Disclosure and all Intellectual Property Rights therein (except Patents) to use, perform, display, reproduce, create derivative works, make, have made, use, sell (directly or indirectly), offer for sale or
disposition, import, dispose and otherwise exploit such TMC Background Technology that is Powertrain Technology and is a Qualified Disclosure for any purpose including, without limitation, in its electric vehicle business and in performing services
for its customers. The foregoing license shall be fully transferable and sublicenseable. 

  
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EXECUTION VERSION 
  

 (c) Licenses to Non-Powertrain Technology. 

(i) License to Tesla Foreground Technology that is Non-Powertrain Technology. Subject to the terms and conditions of this
Agreement, Tesla hereby grants TMC a limited, worldwide, non-exclusive, royalty-free, fully paid-up right and license to all Tesla Foreground Technology that is Non-Powertrain Technology and is a Qualified Disclosure and all Intellectual Property
Rights therein (except Patents) to use, perform, display, reproduce, create derivative works, make, have made, use, sell (directly or indirectly), offer for sale or disposition, import, dispose and otherwise exploit such Tesla Foreground Technology
that is Non-Powertrain Technology and is a Qualified Disclosure for any purpose. The foregoing license shall be fully transferable and sublicenseable. 
 (ii) License to Tesla Background Technology that is Non-Powertrain Technology. Subject to the terms and conditions of this Agreement, Tesla hereby grants TMC a limited, worldwide, non-exclusive,
royalty-free, fully paid-up right and license to all Tesla Background Technology that is Non-Powertrain Technology and is a Qualified Disclosure and all Intellectual Property Rights therein (except Patents) to use, perform, display, reproduce,
create derivative works, make, have made, use, sell (directly or indirectly), offer for sale or disposition, import, dispose and otherwise exploit such Tesla Background Technology that is Non-Powertrain Technology and is a Qualified Disclosure for
any purpose. The foregoing license shall be fully transferable and sublicenseable. 
 (d) No Other Rights. Except as may
be explicitly provided in this Agreement, no licenses or rights to (i) any Technology or Intellectual Property Rights that are owned or licensable by Tesla; and (ii) any Technology or Intellectual Property Rights that are owned or
licensable by TMC are granted, licensed, or otherwise transferred under this Agreement by implication or otherwise. Notwithstanding the foregoing, nothing herein restricts either of the Party’s rights with respect to Residuals as set forth in
Section 6(f) (except for Patents). For the avoidance of doubt, except with respect to the licenses in Section 4(a) no licenses or other rights are granted by either Party to the other Party with respect to such Party’s Patents.

 5. COMPENSATION 

(a) Initial Quote. TMC acknowledges and understands that the Sixty Million Dollars ($60,000,000) quote for development services
pursuant to this Agreement is based on Tesla’s preliminary estimate of the development services, schedule and [***] Prototype Powertrain Systems to be delivered, and the validation services of those Prototype Powertrain Systems that
might be required by TMC (the “Initial Quote”). To the extent that the Services required by the Final Specifications and Final Statement of Work or the number of Prototype Powertrain Systems are in excess of [***] units, the
Parties will negotiate in good faith to mutually agree on the payments for such additional Services. 
 (b) Initial Statement
of Work and Payment. Promptly after the Effective Date, Tesla shall provide TMC with the Deliverables set forth in the Initial Statement of Work and Specification along with an invoice for the non-refundable amount of [***]
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EXECUTION VERSION 
  

 
be applied towards the Initial Quote indicated above. Notwithstanding the provisions of Section 2(d), TMC shall complete the acceptance evaluation set forth in Section 2(d), for the
Deliverables set forth in the Initial Statement of Work and Specification in no more than five (5) calendar days and shall pay the invoice for such Initial Deliverables within twenty-five (25) calendar days of such acceptance. Tesla shall
be entitled to an additional payment of [***] (“Second Payment”) which sum will be applied towards the Initial Quote indicated above upon the date when Tesla and TMC agree to the Final Specification. After the date of such
agreement, Tesla will issue an invoice to TMC for the Second Payment and that sum shall be due and payable upon TMC’s receipt of the invoice. The remaining balance of the Initial Quote will be paid according to the schedule and Deliverables set
forth in the Final Specifications. To the extent that the Parties take more than sixty (60) calendar days to finalize the Final Specifications, Final Statement of Work, Deliverables and Payment Schedule, an additional progress payment will be
made by TMC for Services to be provided, as agreed mutually by the two Parties. 
 (c) Fees. In consideration for
provision of the Services under this Agreement, subject to TMC’s acceptance of the applicable Deliverable pursuant to Section 2(d) and Tesla’s delivery of the applicable Deliverable on the applicable Delivery Date, TMC (or TTC or
another entity designated by TMC) shall pay Tesla the amounts (“Fees”) and pursuant to the payment schedule to be mutually agreed upon by the Parties and incorporated herein by reference. 

(d) Invoicing; Payment. Except as set forth in Section 5(a)-(c), all payments from TMC are due within thirty
(30) calendar days of the date of Tesla’s invoice and will be paid in full without set off or other deduction in U.S. Dollars. Payment will be made by wire transfer of immediately available funds to such bank and account as Tesla will
direct. In the event that payment is not received within thirty (30) calendar days of the date of Tesla’s invoice, Tesla will be entitled in its sole discretion to (a) charge interest on any undisputed outstanding amount from day to
day at the rate of one percent (1%) per annum over the prime lending rate of Bank of America applying from time to time, both before and after judgment in respect of all invoices outstanding from their due date until payment is actually
received; (b) suspend performance hereunder without liability until the outstanding amount is paid in full and the timetable and any other times agreed for the provision of the Services or Deliverables will be amended accordingly; and/or
(c) terminate this Agreement pursuant to Section 10(b)(ii). 
 (e) Sales Taxes. In the event any sales tax is
required to be paid or levied by any governmental authority in connection with any payments made under this Agreement, TMC shall be responsible for paying all such taxes which payment shall be in addition to any Fees payable under this Agreement.

 (f) Manufacturing and Supply Agreement. The Parties acknowledge and agree that TMC will not pay any additional fees
for use of Tesla Technology under the Manufacturing and Supply Agreement. Nothing in this Agreement places any obligation on (a) Tesla to supply any powertrains to TMC for commercial use, or (b) TMC to purchase any powertrains from Tesla
for commercial use. 

  
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EXECUTION VERSION 
  

 6. CONFIDENTIALITY 
 (a) Duty to Hold in Confidence. Each Party (“Recipient”) will preserve in strict confidence and secure against accidental loss any Confidential Information disclosed to it by the
other Party (“Disclosing Party”). In preserving Disclosing Party’s Confidential Information, Recipient will use the same standard of care it would use to secure and safeguard its own confidential information of similar
importance, but in no event less than reasonable care. Any permitted reproduction of Disclosing Party’s Confidential Information shall contain all confidential or proprietary legends which appear on the original. Recipient shall immediately
notify Disclosing Party in writing in the event of any loss or unauthorized disclosure or use of Disclosing Party’s Confidential Information. Recipient shall only use Disclosing Party’s Confidential Information for the sole purpose of
evaluating, operating and using the Deliverables, performing its obligations and exercising its rights under this Agreement. 

(b) Exceptions. Confidential Information shall not include information Recipient can document, which: (i) is or becomes
(through no improper action or inaction by Recipient or any Affiliate or Personnel of Recipient) generally known to the public (and is readily available without substantial effort), (ii) was rightfully in its possession or known by Recipient
prior to receipt from Disclosing Party (as evidenced in writing), (iii) was rightfully disclosed to Recipient by another person without restriction, or (iv) was independently developed by or for Recipient without access to or use of any
Confidential Information of Disclosing Party. 
 (c) Permitted Disclosures. Recipient shall permit access to Disclosing
Party’s Confidential Information solely to its Affiliates and Personnel of Recipient and its Affiliates who (i) have a need to know such Confidential Information; and (ii) have agreed to comply with confidentiality terms at least as
restrictive as those contained herein. Except as permitted in the exercise of the licenses and rights granted under this Agreement, Recipient shall not disclose or transfer any Disclosing Party’s Confidential Information to any third party,
without the specific prior written approval of Disclosing Party, except to the extent required by law or governmental or court order to be disclosed by Recipient, provided that Recipient gives Disclosing Party prompt written notice of such
requirement prior to such disclosure and cooperates with Disclosing Party in the latter’s attempt, if any, to prevent such disclosure or in obtaining a protective or similar order with respect to such Confidential Information to be disclosed.

 (d) Obligation to Return Confidential Information. Recipient acknowledges that Disclosing Party retains ownership of
all Confidential Information disclosed or made available to Recipient. Accordingly, upon any termination, cancellation or expiration of this Agreement, or upon Disclosing Party’s request for any reason (other than in violation of this
Agreement), Recipient shall, within thirty (30) calendar days after such termination, cancellation or expiration or request, return promptly to Disclosing Party the originals and all copies (without retention of any copy) of any written
documents, tools, materials or other tangible items containing or embodying Confidential Information of Disclosing Party; provided, however, that Recipient shall be entitled to retain such originals and copies of Confidential Information of
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conclude are necessary to Recipient’s use and exploitation, as permitted by this Agreement, of any rights or licenses retained by Recipient following such termination, cancellation,
expiration or request. 
 (e) No Representations or Warranties. EXCEPT AS EXPRESSLY SET FORTH IN SECTION 7, DISCLOSING
PARTY MAKES NO REPRESENTATIONS OR WARRANTIES, WHETHER EXPRESS, STATUTORY OR IMPLIED, RELATING TO THE SUFFICIENCY OR ACCURACY OF ITS CONFIDENTIAL INFORMATION DISCLOSED FOR ANY PURPOSE, NOR REGARDING INFRINGEMENT OF OTHERS’ INTELLECTUAL PROPERTY
RIGHTS WHICH MAY ARISE FROM THE USE OF SUCH CONFIDENTIAL INFORMATION. 
 (f) No Grant of Property Rights; Residual
Information. Recipient recognizes and agrees that, except as expressly set forth in this Agreement, nothing herein shall be construed as granting any property rights, by license or otherwise, to any of Disclosing Party’s Confidential
Information, or to any invention or any patent right that has issued or that may issued on such Confidential Information or to decompile or reverse engineer any of the Disclosing Party’s Confidential Information. Any rights to such Intellectual
Property Rights are set forth in Sections 3 and 4. Notwithstanding the foregoing, Recipient shall have the right to use and exploit Residuals for any purpose. As used herein, “Residuals” shall mean ideas, information and understandings
retained in the unaided memory of Recipient’s employees as a result of their review, evaluation and testing of the Confidential Information of Disclosing Party. For the avoidance of doubt, no patent or copyright license to Residuals is granted
to either Party under this Section 6(f). Each Party acknowledges that the other Party’s receipt of its Confidential Information under this Agreement shall not create any obligation in any way limiting or restricting the assignment of
employees within such Party. 
 (g) Confidentiality of Agreement. Each Party agrees that the terms and conditions of this
Agreement shall be treated as confidential information and that no reference to the terms and conditions of this Agreement can be made without the prior written consent of the other Party (such consent not to be unreasonably withheld, conditioned or
delayed); provided, however, that each Party may disclose the mere existence of this Agreement without restriction and may disclose the terms and conditions of this Agreement: (i) as required by any court, administrative agency or other
governmental body, including without limitation any filing or public disclosure that may be required under any national, federal or state securities law or regulation; (ii) as otherwise required by law; (iii) in confidence, to legal
counsel of the Parties and other professional advisors; (iv) in confidence, to accountants, banks, potential investors, financing sources and their respective advisors who would not reasonably be deemed to be potential customers or competitors
of the other Party; (v) in confidence, in connection with the enforcement of this Agreement or rights under this Agreement; or (vi) in confidence, in connection with a merger or acquisition or proposed merger or acquisition, or the like.

  
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EXECUTION VERSION 
  

 7. LIMITED REPRESENTATIONS AND WARRANTIES; DISCLAIMER 

(a) Mutual Representations and Warranties. Each Party represents and warrants to the other Party that it: (i) has the right
to enter this Agreement, is a corporation duly organized, validly existing, and in good standing under the laws of the jurisdiction of its incorporation, (ii) has the corporate power and authority to execute and deliver this Agreement and to
perform its obligations hereunder, (iii) has by all necessary corporate action duly and validly authorized the execution and delivery of this Agreement and the performance of its obligations hereunder, (iv) will perform the Services in
accordance with applicable laws and regulations, and (v) this Agreement is the valid and legally binding obligation of each Party in accordance with its terms. 
 (b) Tesla Representations and Warranties. Tesla represents and warrants that it will perform the Services in a professional nature, conforming to generally accepted industry-standards. 

(c) Disclaimer. EXCEPT AS SPECIFICALLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY MAKES ANY REPRESENTATION, WARRANTY, OR
CONDITION, EXPRESS OR IMPLIED. EACH PARTY SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE, NONINFRINGEMENT, AND MERCHANTABILITY. 
 8. INDEMNIFICATION 
 (a) Mutual Indemnification. Subject to Sections 8(c)
and 8(d), each Party (the “Indemnifying Party”) will defend, indemnify and hold the other Party and its Affiliates (the “Indemnified Party”) harmless from and against all third party claims, liabilities, damages and
costs (including legal fees and costs), arising from or related to (i) any allegation that the Tesla Technology (when Tesla is the Indemnifying Party) or the TMC Technology (when TMC is the Indemnifying Party) infringes or misappropriates a
third party’s Intellectual Property Right, (ii) any parts (including third party parts) supplied by the Indemnifying Party under this Agreement, or (iii) the Indemnifying Party’s gross negligence or willful misconduct.

 (b) TMC Indemnification. Subject to Sections 8(c) and 8(d), TMC will defend, indemnify and hold Tesla and its
Affiliates (the “Indemnified Parties”) harmless from and against all third party claims, liabilities, damages and costs (including legal fees and costs), arising from or related to TMC’s failure to comply with
Section 2(i). 
 (c) Exceptions. The obligations set forth in Section 8(a)(i) shall not apply to the extent
such infringement or misappropriation claim arises out of or is related to: (i) compliance with the Indemnified Party’s specifications, (ii) use of the Tesla Technology (when Tesla is the Indemnifying Party) or the TMC Technology
(when TMC is the Indemnifying Party) in combination with any software, hardware, network, system, or other technology that was not supplied by the Indemnifying Party or, in the case of the Tesla Technology, which was not a part of the Prototype
Powertrain Systems as delivered to TMC by Tesla and accepted by TMC, (iii) any modifications of the Tesla 

  
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Technology (when Tesla is the Indemnifying Party) or the TMC Technology (when TMC is the Indemnifying Party) by anyone other than the Indemnifying Party, (iv) the Indemnified Party
continuing the allegedly infringing or misappropriating activity after being informed by the Indemnifying Party of modifications that would have avoided the alleged infringement or misappropriation, or (v) use of the Tesla Technology or
Prototype Powertrain Systems (when Tesla is the Indemnifying Party), or the TMC Technology (when TMC is the Indemnifying Party) in a manner that is in breach of the terms and conditions of this Agreement. 

(d) Conditions. The Parties’ indemnification obligations under this Section 8 are contingent upon: (i) the
Indemnified Party giving prompt written notice to the Indemnifying Party of any claim under Section 8(a) and 8(b) (provided, however, that failure to give such notification shall not affect the indemnification provided thereunder except to the
extent, and only to the extent, that the Indemnifying Party shall have been actually prejudiced as a result of such failure), and (ii) at the Indemnifying Party’s request and expense, the Indemnified Party cooperating in the investigation
and defense of such claim(s). The Indemnified Party shall be entitled to participate in (but not control) such investigation and/or defense and to retain its own counsel, at its own expense. The Indemnifying Party shall not settle or consent to an
adverse judgment in any such claim that adversely affects the rights or interests of the Indemnified Party or imposes additional obligations on the Indemnified Party, without the prior express written consent of the Indemnified Party which consent
shall not be unreasonably withheld. 
 9. LIMITATION OF LIABILITY 
 EXCEPT FOR BREACHES OF SECTION 6 (CONFIDENTIALITY), UNDER NO CIRCUMSTANCES WILL EITHER PARTY BE LIABLE TO THE OTHER PARTY, UNDER ANY CONTRACT, STRICT LIABILITY, NEGLIGENCE OR OTHER LEGAL OR EQUITABLE
THEORY, FOR ANY SPECIAL, INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOST PROFITS OR COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES IN CONNECTION WITH THE SUBJECT MATTER OF THIS AGREEMENT HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY,
INCLUDING BUT NOT LIMITED TO CONTRACT OR TORT AND WHETHER OR NOT SUCH PARTY WAS OR SHOULD HAVE BEEN AWARE OR ADVISED OF THE POSSIBILITY OF SUCH DAMAGE AND NOTWITHSTANDING THE FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY STATED HEREIN. EXCEPT
FOR BREACHES OF SECTION 6 (CONFIDENTIALITY), IN NO EVENT SHALL EACH PARTY’S LIABILITY ARISING OUT OF THIS AGREEMENT EXCEED [***]. THE PARTIES AGREE THAT THIS SECTION 9 REPRESENTS A REASONABLE ALLOCATION OF RISK. 

10. TERM AND TERMINATION 
 (a)
Term of Agreement. Unless otherwise terminated as provided herein, this Agreement shall be effective upon the Effective Date and shall remain in force until March 31, 2012 (“Term”) unless earlier terminated pursuant to
the provisions of Section 10(b) or (c). 

  
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 (b) Termination for Cause. This Agreement may be terminated by a Party for cause
immediately upon the occurrence of and in accordance with the following: 
 (i) Insolvency Event. Either Party may
terminate this Agreement by delivering written notice to the other Party upon the occurrence of any of the following events: (1) a receiver is appointed for the other Party or its property; (2) the other Party makes a general assignment
for the benefit of its creditors; (3) the other Party commences, or has commenced against it, proceedings under any bankruptcy, insolvency or debtor’s relief law, which proceedings are not dismissed within sixty (60) calendar days; or
(4) the other Party is liquidated or dissolved. 
 (ii) Default. Either Party may terminate this Agreement effective
upon written notice to the other Party if the other Party violates any covenant, agreement, representation or warranty contained herein in any material respect or defaults or fails to perform any of its obligations or agreements hereunder in any
material respect, which violation, default or failure is not cured within thirty (30) calendar days after written notice thereof from the non-defaulting Party stating its intention to terminate this Agreement by reason thereof. 

(c) Termination for Convenience. Any time beginning on May 1, 2011, TMC may terminate this Agreement effective upon written
notice to Tesla at any time by bearing all reasonable, actual and documented development costs incurred by Tesla up to such point less Fees already paid by TMC pursuant to Section 5, and upon such termination, Tesla shall deliver all
in-development products to TMC. 
 (d) Survival of Rights and Obligations Upon Termination. Sections 1, 2(i), 3,
4(b), 4(c), 4(d), 5 (but solely for payments accrued as of the date of termination), 6, 7, 8, 9, 10(d), and 11 shall survive termination or expiration of this Agreement. 
 11. MISCELLANEOUS 
 (a) Force Majeure. Except with regard to the payment of
money, neither Party shall be responsible for any delays caused by acts of God or any other cause beyond its reasonable control, including but not limited to such things as strikes, riots, acts of war, material shortages, restricting legislation,
embargo, blockage, work stoppage, major outage of a public communications carrier, etc. Any delay caused by one Party which affects the other Party’s ability to perform its obligations according to the terms of this Agreement shall extend the
non-delaying Party’s obligation to perform by the same number of calendar days by which the delaying Party delayed in performing its obligations. 
 (b) Further Assurances. Each Party agrees to cooperate fully with the other Party and to execute such further instruments, documents and agreements and to give such further written assurances, as
may be reasonably requested by the other Party, to better evidence and reflect the transactions described in and contemplated by this Agreement, and to carry into effect the intents and purposes of this Agreement. 

  
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EXECUTION VERSION 
  

 (c) No Exclusivity. The relationship contemplated in this Agreement is
non-exclusive and each Party reserves the right to enter into arrangements with third parties 
 (d) Compliance with
Laws. Each Party warrants that in performance of work under this Agreement it has complied with or shall comply with all applicable national, federal, state, local laws and ordinances now or hereafter enacted including, but not limited to export
laws and regulations. 
 (e) Relationship of Parties. The Parties are independent contractors under this Agreement and no
other relationship is intended, including a partnership, franchise, joint venture, agency, employer/employee, fiduciary, master/servant relationship, or other special relationship. Neither Party shall act in a manner that expresses or implies a
relationship other than that of independent contractor, nor bind the other Party. 
 (f) No Third Party Beneficiaries.
Unless otherwise expressly provided for, no provisions of this Agreement are intended or shall be construed to confer upon or give to any person or entity other than TMC and Tesla (and their authorized assignees under Section 11(j)) any rights,
remedies or other benefits under or by reason of this Agreement. 
 (g) Announcement; No Trademark Licenses. The Parties
agree that no initial announcement or other public disclosure of the existence or terms of this Agreement, unless required by law, shall be made until the Parties have agreed upon the text of and issued an appropriate joint press release announcing
this Agreement. Moreover, neither Party shall have any right or license to use the trademarks, service marks or logos of the other Party for any purpose without first obtaining written consent of the other Party from an authorized representative
thereof. 
 (h) Equitable Relief. Each Party acknowledges that a breach by the other Party of any confidentiality or
proprietary rights provision of this Agreement may cause the non-breaching Party irreparable damage, for which the award of damages would not be adequate compensation. Consequently, the non-breaching Party may institute an action to enjoin the
breaching Party from any and all acts in violation of those provisions, which remedy shall be cumulative and not exclusive, and the non-breaching Party may seek the entry of an injunction enjoining the breaching Party from any breach or threatened
breach of those provisions, in addition to any other relief to which the non-breaching Party may be entitled at law or in equity. 
 (i) Notices. Any notice required or permitted to be given by either Party under this Agreement shall be in writing and shall be personally delivered or sent by a reputable overnight mail service
(e.g., Federal Express), or by first class mail (certified or registered), or by facsimile confirmed by first class mail (registered or certified), to the Project Manager of the other Party. Notices will be deemed effective (i) three
(3) Business Days after deposit, postage prepaid, if mailed, (ii) the next day if sent by overnight mail, or (iii) the same day if sent by facsimile and confirmed as set forth above. A copy of any notice shall be sent to the
following: 

  
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EXECUTION VERSION 
  

			
	 TMC
	 	Tesla
	Toyota Motor Corporation Tesla Motors, Inc.	 	Tesla Motors, Inc.
	1, Toyota-cho, Toyota City	 	3500 Deer Creek Road
	Aichi Prefecture 471-8571	 	Palo Alto, CA 94304
	Japan	 	U.S.A
	 Attn: General Manager,
	 	
	 BR-Electric Drive Vehicles Project Dept
	 	Attn: Legal Department
	 Fax: +81-565-23-5714
	 	Fax: +1 (650) 701-2613

 (j)
Assignment. A Party may not assign its rights or delegate its obligations hereunder, either in whole or in part, whether by operation of law or otherwise, without the prior written consent of the other Party, provided however that no such
consent shall be required for an assignment of this Agreement in the case of a merger, reorganization or in whole or part in connection with the sale or transfer of all or substantially all of the relevant assets of the assigning Party’s assets
or equity. Any attempted assignment or delegation without the other Party’s written consent will be void. The rights and liabilities of the Parties under this Agreement will bind and inure to the benefit of the Parties’ respective
successors and permitted assigns. 
 (k) Waiver and Modification. Failure by either Party to enforce any provision of
this Agreement will not be deemed a waiver of future enforcement of that or any other provision. Any waiver, amendment or other modification of any provision of this Agreement will be effective only if in writing and signed by the Parties.

 (l) Severability. If for any reason a court of competent jurisdiction finds any provision of this Agreement to be
unenforceable, that provision of this Agreement will be enforced to the maximum extent permissible so as to implement the intent of the Parties, and the remainder of this Agreement will continue in full force and effect. 

(m) Governing Law and Jurisdiction. This Agreement and any action related hereto shall be governed, controlled, interpreted and
defined by and under the laws of the State of California and the United States, without regard to the conflicts of laws provisions thereof. The exclusive jurisdiction and venue of any action with respect to the subject matter of this Agreement shall
be the state courts of the State of California for the County of Santa Clara or the United States District Court for the Northern District of California and each of the Parties submits itself to the exclusive jurisdiction and venue of such courts
for the purpose of any such action. The Parties specifically disclaim the UN Convention on Contracts for the International Sale of Goods. 
 (n) Headings. Headings used in this Agreement are for ease of reference only and shall not be used to interpret any aspect of this Agreement. 

(o) Entire Agreement. This Agreement, including all exhibits which are incorporated herein by reference, constitutes the entire
agreement between the Parties with respect to the subject matter 

  
 -22-

 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. 

 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 

EXECUTION VERSION 
  

 
hereof, and supersedes and replaces all prior and contemporaneous understandings or agreements, written or oral, regarding such subject matter. 

(p) Counterparts. This Agreement may be executed in two (2) counterparts, each of which shall be an original and together
which shall constitute one and the same instrument. 
 [Remainder of this page left intentionally blank] 

  
 -23-

 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. 

 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 

EXECUTION VERSION 
  

 IN WITNESS WHEREOF, the Parties have executed this Agreement by persons duly authorized
as of the date and year first above written. 
  

									
	By:	 	 /s/ S. Terashi
	 		 	By	 	 /s/ JB Straubel

	Name:	 	Shigeki Terashi	 		 	Name:	 	JB Straubel
	Title:	 	Managing Officer	 		 	Title:	 	Chief Technical Officer
	Date:	 	 Oct. 6, 2010
	 		 	Date:	 	 Oct. 6th, 2010

  
 -24-

 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. 

 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 
  

 Exhibit A 
 Tesla Background Technology 
 Tesla Background Technology includes, without limitation, all
of the Tesla Background Technology related to the following Tesla developed Technologies: 
 [***] 

  
 -25-

 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. 

 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 
  

 Exhibit B 
 Powertrain Technology 
 [***] 

  
 -26-

 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission. 

 CONFIDENTIAL TREATMENT REQUESTED BY TESLA MOTORS, INC. 

TESLA AND TMC CONFIDENTIAL INFORMATION 
  

 Exhibit C 
 Non-Powertrain Technology 
 [***] 

  
 -27-

 ***Confidential treatment requested pursuant to a request for confidential treatment filed with the
Securities and Exchange Commission. Omitted portions have been filed separately with the Commission.Purchase Agreement

 Exhibit 10.1 
 $275,000,000 
 GOODRICH PETROLEUM CORPORATION 

8.875% Senior notes due 2019 
 Purchase Agreement 
 February 25, 2011 

J.P. Morgan Securities LLC 
 As
Representative of the 
 several Initial Purchasers listed 

in Schedule 1 hereto 
 c/o J.P.
Morgan Securities LLC 
 383 Madison Avenue 
 New York, New York 10179 
 Ladies and Gentlemen: 

Goodrich Petroleum Corporation, a Delaware corporation (the “Company”), proposes to issue and sell to the several initial
purchasers listed in Schedule 1 hereto (the “Initial Purchasers”), for whom you are acting as representative (the “Representative”), $275,000,000 principal amount of its 8.875%Senior notes due 2019 (the “Securities”).
The Securities will be issued pursuant to an Indenture to be dated as of March 2, 2011 (the “Indenture”) among the Company, Goodrich Petroleum Company, L.L.C., a Louisiana Limited Liability Company (the “Guarantor”), which
is the Company’s only subsidiary and Wells Fargo Bank, N.A., as trustee (the “Trustee”), and will be guaranteed on an unsecured senior basis by the Guarantor (the “Guarantee”). 

The Securities will be sold to the Initial Purchasers without being registered under the Securities Act of 1933, as amended (the
“Securities Act”), in reliance upon an exemption therefrom. The Company and the Guarantor have prepared a preliminary offering memorandum dated February 22, 2011 (the “Preliminary Offering Memorandum”) and will prepare an
offering memorandum dated the date hereof (the “Offering Memorandum”) setting forth information concerning the Company and the Securities. Copies of the Preliminary Offering Memorandum have been, and copies of the Offering Memorandum will
be, delivered by the Company to the Initial Purchasers pursuant to the terms of this Agreement. The Company hereby confirms that it has authorized the use of the Preliminary Offering Memorandum, the other Time of Sale Information (as defined below)
and the Offering Memorandum in connection with the offering and resale of the Securities by the Initial Purchasers in the manner contemplated by this Agreement. Capitalized terms used but not defined herein shall have the meanings given to such
terms in the Preliminary Offering Memorandum. 

 
References herein to the Preliminary Offering Memorandum, the Time of Sale Information and the Offering Memorandum shall be deemed to refer to and include any document incorporated by reference
therein. 
 At or prior to the time when sales of the Securities were first made (the “Time of Sale”), the following
information shall have been prepared (collectively, the “Time of Sale Information”): the Preliminary Offering Memorandum, as supplemented and amended by the written communications listed on Annex A hereto. 

Holders of the Securities (including the Initial Purchasers and their direct and indirect transferees) will be entitled to the benefits
of a Registration Rights Agreement (the “Registration Rights Agreement”), to be dated the Closing Date (as defined below), pursuant to which the Company and the Guarantor will agree to file one or more registration statements with the
Securities and Exchange Commission (the “Commission”) providing for the registration under the Securities Act of the Securities or the Exchange Securities referred to (and as defined) in the Registration Rights Agreement. 

In addition, prior to the Closing Date the Amended and Restated Credit Agreement dated as of May 5, 2009 by and among the Guarantor,
BNP Paribas, as the agent, and the lenders party thereto, as amended (the “Credit Agreement”) shall have been further amended as described in the Time of Sale Information and as necessary to permit the issuance and sale of the Securities
(such Credit Agreement, as further amended by this further amendment, is herein referred to as the “Amended Credit Agreement”). 
 The Company hereby confirms its agreement with the several Initial Purchasers concerning the purchase and resale of the Securities, as follows: 

1. Purchase and Resale of the Securities. (a) The Company agrees to issue and sell the Securities to the several Initial
Purchasers as provided in this Agreement, and each Initial Purchaser, on the basis of the representations, warranties and agreements set forth herein and subject to the conditions set forth herein, agrees, severally and not jointly, to purchase from
the Company the respective principal amount of Securities set forth opposite such Initial Purchaser’s name in Schedule 1 hereto at a price equal to 97.75% of the principal amount thereof plus accrued interest, if any, from March 2, 2011 to
the Closing Date. The Company will not be obligated to deliver any of the Securities except upon payment for all the Securities to be purchased as provided herein. 
 (b) The Company understands that the Initial Purchasers intend to offer the Securities for resale on the terms set forth in the Time of Sale Information. Each Initial Purchaser, severally and not jointly,
represents, warrants and agrees that: 
 (i) it is a qualified institutional buyer within the meaning of Rule
144A under the Securities Act (a “QIB”) and an accredited investor within the meaning of Rule 501(a) under the Securities Act; 

  
 2 

 (ii) it has not solicited offers for, or offered or sold, and will not
solicit offers for, or offer or sell, the Securities by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D under the Securities Act (“Regulation D”) or in any manner involving
a public offering within the meaning of Section 4(2) of the Securities Act; and 
 (iii) it has not
solicited offers for, or offered or sold, and will not solicit offers for, or offer or sell, the Securities as part of their initial offering except: 
 (A) within the United States to persons whom it reasonably believes to be QIBs in transactions pursuant to Rule 144A under the Securities Act (“Rule 144A”) and in connection with each such sale,
it has taken or will take reasonable steps to ensure that the purchaser of the Securities is aware that such sale is being made in reliance on Rule 144A; or 
 (B) in accordance with the restrictions set forth in Annex C hereto. 
 (c) Each
Initial Purchaser acknowledges and agrees that the Company and, for purposes of the no registration opinions to be delivered to the Initial Purchasers pursuant to Sections 6(g) and 6(j), counsel for the Company and counsel for the Initial
Purchasers, respectively, may rely upon the accuracy of the representations and warranties of the Initial Purchasers, and compliance by the Initial Purchasers with their agreements, contained in paragraph (b) above (including Annex C hereto),
and each Initial Purchaser hereby consents to such reliance. 
 (d) The Company acknowledges and agrees that the Initial
Purchasers may offer and sell Securities to or through any affiliate of an Initial Purchaser and that any such affiliate may offer and sell Securities purchased by it to or through any Initial Purchaser. 

(e) The Company and the Guarantor acknowledge and agree that the Initial Purchasers are acting solely in the capacity of an arm’s
length contractual counterparty to the Company and the Guarantor with respect to the offering of Securities contemplated hereby (including in connection with determining the terms of the offering) and not as financial advisors or fiduciaries to, or
agents of, the Company, the Guarantor or any other person. Additionally, neither the Representative nor any other Initial Purchaser is advising the Company, the Guarantor or any other person as to any legal, tax, investment, accounting or regulatory
matters in any jurisdiction. The Company and the Guarantor shall consult with their own advisors concerning such matters and shall be responsible for making their own independent investigation and appraisal of the transactions contemplated hereby,
and neither the Representative nor any other Initial Purchaser shall have any responsibility or liability to the Company or the Guarantor with respect thereto. Any review by the Representative or any Initial Purchaser of the

  
 3 

 
Company, the Guarantor, and the transactions contemplated hereby or other matters relating to such transactions will be performed solely for the benefit of the Representative or such Initial
Purchaser, as the case may be, and shall not be on behalf of the Company, the Guarantor or any other person. 
 2. Payment
and Delivery. (a) Payment for and delivery of the Securities will be made at the offices of Davis Polk & Wardwell LLP at 10:00 A.M., New York City time, on March 2, 2011, or at such other time or place on the same or such
other date, not later than the fifth business day thereafter, as the Representative and the Company may agree upon in writing. The time and date of such payment and delivery is referred to herein as the “Closing Date”. 

(b) Payment for the Securities shall be made by wire transfer in immediately available funds to the account(s) specified by the Company
to the Representative against delivery to the nominee of The Depository Trust Company, for the account of the Initial Purchasers, of one or more global notes representing the Securities (collectively, the “Global Note”), with any transfer
taxes payable in connection with the sale of the Securities duly paid by the Company. The Global Note will be made available for inspection by the Representative not later than 1:00 P.M., New York City time, on the business day prior to the Closing
Date. 
 3. Representations and Warranties of the Company and the Guarantor. The Company and the Guarantor jointly and
severally represent and warrant to each Initial Purchaser that: 
 (a) Preliminary Offering Memorandum, Time of Sale
Information and Offering Memorandum. The Preliminary Offering Memorandum, as of its date, did not, the Time of Sale Information, at the Time of Sale, did not, and at the Closing Date, will not, and the Offering Memorandum, in the form first used
by the Initial Purchasers to confirm sales of the Securities and as of the Closing Date, will not, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading; provided that the Company and the Guarantor make no representation or warranty with respect to any statements or omissions made in reliance upon and in conformity with information
relating to any Initial Purchaser furnished to the Company in writing by such Initial Purchaser through the Representative expressly for use in the Preliminary Offering Memorandum, the Time of Sale Information or the Offering Memorandum. 

(b) Additional Written Communications. The Company and the Guarantor (including their agents and representatives, other than the
Initial Purchasers in their capacity as such) have not prepared, made, used, authorized, approved or referred to and will not prepare, make, use, authorize, approve or refer to any written communication that constitutes an offer to sell or
solicitation of an offer to buy the Securities (each such communication by the Company and the Guarantor or their agents and representatives (other than a communication referred to in clauses (i), (ii)

  
 4 

 
and (iii) below) an “Issuer Written Communication”) other than (i) the Preliminary Offering Memorandum, (ii) the Offering Memorandum, (iii) the documents listed on
Annex A hereto, including a term sheet substantially in the form of Annex B hereto, which constitute part of the Time of Sale Information, and (iv) any electronic road show or other written communications, in each case used in accordance with
Section 4(c). Each such Issuer Written Communication, when taken together with the Time of Sale Information, did not, and at the Closing Date will not, contain any untrue statement of a material fact or omit to state a material fact necessary
in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that the Company and the Guarantor make no representation and warranty with respect to any statements or omissions
made in each such Issuer Written Communication in reliance upon and in conformity with information relating to any Initial Purchaser furnished to the Company in writing by such Initial Purchaser through the Representative expressly for use in any
Issuer Written Communication. 
 (c) Incorporated Documents. The documents incorporated by reference in each of the Time
of Sale Information and the Offering Memorandum, when filed with the Commission, conformed or will conform, as the case may be, in all material respects to the requirements of the Exchange Act and the rules and regulations of the Commission
thereunder. 
 (d) Financial Statements. The historical financial statements and the related notes thereto included or
incorporated by reference in each of the Time of Sale Information and the Offering Memorandum present fairly, in all material respects, the financial position of the Company and the Guarantor as of the dates indicated and the results of their
operations and the changes in their cash flows for the periods specified; such financial statements have been prepared in conformity with generally accepted accounting principles applied on a consistent basis throughout the periods covered thereby;
and the other financial or statistical information included or incorporated by reference in each of the Time of Sale Information and the Offering Memorandum has been derived from the accounting records of the Company and its subsidiaries and
presents fairly, in all material respects, the information shown thereby; and the pro forma financial information and the related notes thereto included or incorporated by reference in each of the Time of Sale Information and the
Offering Memorandum has been prepared in accordance with the Commission’s rules and guidance with respect to pro forma financial information, as of the dates and for the periods presented, and the assumptions underlying such
pro forma financial information are reasonable and are set forth in each of the Time of Sale Information and the Offering Memorandum. 
 (e) No Material Adverse Change. Subsequent to the respective dates as of which information is given in the Time of Sale Information, except as disclosed in the Time of Sale Information, the Company
has not declared, paid or made any dividends or other distributions of any kind on or in respect of its capital stock and there has been no material adverse change or any development involving a prospective material adverse change, whether or not
arising from transactions in the ordinary course of business, in the business, financial condition, results of operations, stockholders’ equity 

  
 5 

 
or properties of the Company and the Guarantor, taken as a whole (a “Material Adverse Change”). Since the date of the latest balance sheet included, or incorporated by reference, in the
Time of Sale Information and the Offering Memorandum, neither the Company nor the Guarantor has incurred or undertaken any liabilities or obligations, whether direct or indirect, liquidated or contingent, matured or unmatured, or entered into any
transactions, including any acquisition or disposition of any business or asset, which are material to the Company and the Guarantor, individually or taken as a whole, except for liabilities, obligations and transactions incurred in the ordinary
course of business which are disclosed in the Time of Sale Information. 
 (f) Organization and Good Standing. Each of
the Company and the Guarantor has been duly organized and validly exists as a corporation or limited liability company in good standing under the laws of its jurisdiction of organization. Each of the Company and the Guarantor is duly qualified to do
business and is in good standing as a foreign corporation or limited liability company in each jurisdiction in which the character or location of its properties (owned, leased or licensed) or the nature or conduct of its business makes such
qualification necessary, except for those failures to be so qualified or in good standing which (individually and in the aggregate) could not reasonably be expected to have a material adverse effect on the business, financial condition, results of
operations, stockholders’ equity or properties of the Company and the Guarantor, individually or taken as a whole (a “Material Adverse Effect”). 
 (g) Licenses and Permits. Each of the Company and the Guarantor has all requisite power and authority, and all necessary consents, approvals, authorizations, orders, registrations, qualifications,
licenses, filings and permits of, with and from all judicial, regulatory and other legal or governmental agencies and bodies (collectively, the “Consents”), to own, lease and operate its properties and conduct its business as it is now
being conducted and as disclosed in the Time of Sale Information and the Offering Memorandum. No Consent contains a materially burdensome restriction not adequately disclosed in the Time of Sale Information and the Offering Memorandum. 

(h) Subsidiaries. The Guarantor is the only subsidiary of the Company. Except for the Guarantor, the Company holds no ownership or
other interest, nominal or beneficial, direct or indirect, in any corporation, partnership, joint venture or other business entity. 
 (i) Capitalization. The Company has an authorized capitalization as set forth in each of the Time of Sale Information and the Offering Memorandum under the heading “Capitalization”; and
all the outstanding equity interests of the Guarantor have been duly and validly authorized and issued, are fully paid and non-assessable and are owned directly or indirectly by the Company, free and clear of any lien, charge, encumbrance, security
interest, restriction on voting or transfer or any other claim of any third party except for liens that arise under the Credit Agreement (including the Amended Credit Agreement). 

(j) Due Authorization. The Company and the Guarantor have full right, power and authority to execute and deliver this Agreement,
the Securities, the Indenture 

  
 6 

 
(including each Guarantee set forth therein), the Exchange Securities (including the related Guarantee) and the Registration Rights Agreement (collectively, the “Transaction Documents”)
and to perform their respective obligations hereunder and thereunder; and all action required to be taken for the due and proper authorization, execution and delivery of each of the Transaction Documents and the consummation of the transactions
contemplated thereby has been duly and validly taken. 
 (k) The Indenture. The Indenture has been duly authorized by the
Company and the Guarantor and, when duly executed and delivered in accordance with its terms by each of the parties thereto, will constitute a valid and legally binding agreement of the Company and the Guarantor enforceable against the Company and
the Guarantor in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to
enforceability (collectively, the “Enforceability Exceptions”); and on the Closing Date, the Indenture will conform in all material respects to the requirements of the Trust Indenture Act of 1939, as amended (the “Trust Indenture
Act”), and the rules and regulations of the Commission applicable to an indenture that is qualified thereunder. 
 (l)
The Securities and the Guarantee. The Securities have been duly authorized by the Company and, when duly executed, authenticated, issued and delivered as provided in the Indenture and paid for as provided herein, will be duly and validly
issued and outstanding and will constitute valid and legally binding obligations of the Company enforceable against the Company in accordance with their terms, subject to the Enforceability Exceptions, and will be entitled to the benefits of the
Indenture; and the Guarantee has been duly authorized by the Guarantor and, when the Securities have been duly executed, authenticated, issued and delivered as provided in the Indenture and paid for as provided herein, will be valid and legally
binding obligations of the Guarantor, enforceable against the Guarantor in accordance with their terms, subject to the Enforceability Exceptions, and will be entitled to the benefits of the Indenture. 

(m) The Exchange Securities. On the Closing Date, the Exchange Securities (including the related Guarantee) will have been duly
authorized by the Company and the Guarantor and, when duly executed, authenticated, issued and delivered as contemplated by the Registration Rights Agreement, will be duly and validly issued and outstanding and will constitute valid and legally
binding obligations of the Company, as issuer, and the Guarantor, as guarantor, enforceable against the Company and the Guarantor in accordance with their terms, subject to the Enforceability Exceptions, and will be entitled to the benefits of the
Indenture. 
 (n) Purchase and Registration Rights Agreements. This Agreement has been duly authorized, executed and
delivered by the Company and the Guarantor; and the Registration Rights Agreement has been duly authorized by the Company and the Guarantor and on the Closing Date will be duly executed and delivered by the Company and the Guarantor and, when duly
executed and delivered in accordance with its terms by 

  
 7 

 
each of the parties thereto, will constitute a valid and legally binding agreement of the Company and the Guarantor enforceable against the Company and the Guarantor in accordance with its terms,
subject to the Enforceability Exceptions, and except that rights to indemnity and contribution thereunder may be limited by applicable law and public policy. 
 (o) Descriptions of the Transaction Documents. Each Transaction Document conforms in all material respects to the description thereof contained in each of the Time of Sale Information and the
Offering Memorandum. 
 (p) No Violation or Default. Neither the Company nor the Guarantor is (i) in violation of
its charter or by-laws or similar organizational documents; (ii) in default, and no event has occurred that, with notice or lapse of time or both, would constitute such a default, in the due performance or observance of any term, covenant or
condition contained in any indenture, mortgage, deed of trust, loan agreement or other material agreement or instrument to which the Company or the Guarantor is a party or by which the Company or the Guarantor is bound or to which any of the
property or assets of the Company or the Guarantor is subject; or (iii) in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority, except, in the case of
clauses (ii) and (iii) above, for any such default or violation that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect and except (in the case of clause (ii) above) for any lien,
charge or encumbrance disclosed in the Time of Sale Information. 
 (q) No Conflicts. The execution, delivery and
performance by the Company and the Guarantor of each of the Transaction Documents to which each is a party, the issuance and sale of the Securities (including the Guarantee) and compliance by the Company and the Guarantor with the terms thereof and
the consummation of the transactions contemplated by the Transaction Documents will not (i) assuming the execution and delivery of the Amended Credit Agreement by all parties thereto, conflict with or result in a breach or violation of any of
the terms or provisions of, or constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or the Guarantor pursuant to, any indenture, mortgage, deed of trust,
loan agreement or other agreement or instrument to which the Company or the Guarantor is a party or by which the Company or the Guarantor is bound or to which any of the property or assets of the Company or the Guarantor is subject, (ii) result
in any violation of the provisions of the charter or by-laws or similar organizational documents of the Company or the Guarantor or (iii) result in the violation of any law or statute or any judgment, order, rule or regulation of any court or
arbitrator or governmental or regulatory authority, except, in the case of clauses (i) and (iii) above, for any such conflict, breach, violation, default, lien, charge or encumbrance that would not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. 
 (r) No Consents Required. No consent, approval,
authorization, order, registration or qualification of or with any court or arbitrator or governmental or regulatory 

  
 8 

 
authority is required for the execution, delivery and performance by the Company and the Guarantor of each of the Transaction Documents to which each is a party, the issuance and sale of the
Securities (including the Guarantee) and compliance by the Company and the Guarantor with the terms thereof and the consummation of the transactions contemplated by the Transaction Documents, except for such consents, approvals, authorizations,
orders and registrations or qualifications as may be required (i) under applicable state or foreign securities or blue sky laws in connection with the purchase and resale of the Securities by the Initial Purchasers and (ii) with respect to
the Exchange Securities (including the related Guarantee) under the Securities Act, the Trust Indenture Act and applicable state or foreign securities laws or blue sky laws or the by-laws and rules of the Financial Industry Regulatory Authority,
Inc. as contemplated by the Registration Rights Agreement. 
 (s) Legal Proceedings. Except as described in each of the
Time of Sale Information and the Offering Memorandum, there are no legal, governmental or regulatory investigations, actions, suits or proceedings pending to which the Company or the Guarantor is or may be a party or to which any property of the
Company or the Guarantor is or may be the subject that, individually or in the aggregate, if determined adversely to the Company or the Guarantor, could reasonably be expected to have a Material Adverse Effect; to the Company’s and the
Guarantor’s knowledge, no such proceeding is threatened or contemplated. 
 (t) Independent Accountants.
Ernst & Young LLP has certified certain financial statements of the Company and its subsidiaries included or incorporated by reference in the Time of Sale Information and the Offering Memorandum and is an independent public accountant with
respect to the Company and the Guarantor within the applicable rules and regulations adopted by the Commission and the Public Company Accounting Oversight Board (United States) and as required by the Securities Act. 

(u) Reserve Information. Netherland Sewell & Associates, Inc. (“Netherland Sewell”), a petroleum engineering
firm from whose reserve reports information (the “Reserve Information”) is included or incorporated by reference in the Time of Sale Information and the Offering Memorandum, are independent petroleum engineers with respect to the Company.
Other than (i) the production of reserves in the ordinary course of business, (ii) intervening price fluctuations or (iii) as described in the Time of Sale Information and the Offering Memorandum, the Company is not aware of any facts
or circumstances that would result in a material adverse change in its proved reserves in the aggregate, or the aggregate present value of estimated future net revenues of the Company or the standardized measure of discounted future net cash flows
therefrom, as described in the Time of Sale Information and the Offering Memorandum and reflected in the Reserve Information as of the respective dates such information is given. Estimates of the proved reserves and the present value of the
estimated future net revenues and the discounted future net cash flows derived therefrom as described in the Time of Sale Information and the Offering Memorandum and reflected in the Reserve Information comply in all material respects to the
applicable requirements of Regulation S-X of the Securities Act Regulations and Industry Guide 2 under the Securities Act. 

  
 9 

 (v) Liens. Except as otherwise set forth in the Time of Sale Information, and except
for (a) the usual and customary liens in favor of the operator under applicable operating agreements, (b) mechanic’s and materialman’s liens that are not delinquent or are being disputed in good faith, (c) liens of the
various taxing authorities for ad valorem property taxes that are not yet due, or if due, are not delinquent, (d) liens that arise under the Credit Agreement (including the Amended Credit Agreement), and (e) such other liens,
encumbrances and defects that, individually or in the aggregate, would not materially affect the value thereof or materially interfere with the use made or to be made thereof by them, the Company and the Guarantor have title to the properties
described in the Time of Sale Information and the Offering Memorandum as being owned by them as follows: (A) with respect to producing properties (including oil and gas wells, producing leasehold interests and appurtenant personal property),
such title is good and Defensible (as defined below) and free and clear of all Liens; (B) with respect to their respective non-producing leasehold properties (including undeveloped locations on leases held by production and those leases not
held by production and including exploration prospects described in the Time of Sale Information and the Offering Memorandum as being owned by them), such title was investigated in accordance with customary industry procedures prior to the
Company’s acquisition thereof; (C) with respect to their respective real property other than oil and gas interests described in the Time of Sale Information and the Offering Memorandum as being owned by them, such title is good and
indefeasible and free and clear of all Liens; and (D) with respect to their respective personal property other than that appurtenant to its oil and gas interests, such title is free and clear of all liens, security interests, pledges, charges,
encumbrances, mortgages and restrictions. As used herein, “Defensible” means, with respect to title to the producing properties (including oil and gas wells and producing leasehold interests) described in the Time of Sale Information and
the Offering Memorandum as being owned by the Company and the Guarantor, that the Company and the Guarantor (i) are entitled to receive not less than the net revenue interests of such properties as set forth in the reserve report of Netherland
Sewell dated as of December 31, 2010 (the “Netherland Sewell Report”) of all hydrocarbons and minerals produced, saved and marketed from such properties, and proceeds thereof, all without reduction, suspension or termination of such
interests throughout the productive life of such properties, and (ii) are obligated to bear a share of the costs and expenses relating to the maintenance, exploration, drilling, completion, development, operation, plugging and abandonment of
such properties not greater than the Company’s share of costs and expenses used in the Netherland Sewell Report, without increase throughout the life of such properties. 
 (w) Title to Intellectual Property. The Company and the Guarantor (i) own or possess adequate right to use all patents, patent applications, trademarks, service marks, trade names, trademark
registrations, service mark registrations, copyrights, licenses, formulae, customer lists, and know-how and other intellectual property (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information,

  
 10 

 
systems or procedures) necessary for the conduct of their respective businesses as being conducted and as described in the Time of Sale Information and the Offering Memorandum and (ii) have
no reason to believe that the conduct of their respective businesses does or will conflict with, and have not received any notice of any claim of conflict with, any such right of others. 

(x) Investment Company Act. The Company and the Guarantor are not and, at all times up to and including the consummation of the
transactions contemplated by this Agreement and the Time of Sale Information and at all times during the offering of the Securities, will not be required to register as an “investment company” or an entity “controlled” by an
“investment company” within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations of the Commission thereunder (collectively, the “Investment Company Act”). 

(y) Taxes. Each of the Company and the Guarantor has accurately prepared and timely filed all federal, state, foreign and other
tax returns that are required to be filed by it and has paid or made provision for the payment of all taxes, assessments, governmental or other similar charges, including without limitation, all sales and use taxes and all taxes which the Company or
the Guarantor is obligated to withhold from amounts owing to employees, creditors and third parties, with respect to the periods covered by such tax returns (whether or not such amounts are shown as due on any tax return), except where the failure
to file or pay could not reasonably be expected to have a Material Adverse Effect. No deficiency assessment with respect to a proposed adjustment of the Company’s or the Guarantor’s federal, state, local or foreign taxes is pending or, to
the best of the Company’s and the Guarantor’s knowledge, threatened, except where such assessment could not reasonably be expected to have a Material Adverse Effect. The accruals and reserves on the books and records of the Company and the
Guarantor in respect of tax liabilities for any taxable period not finally determined are adequate to meet any assessments and related liabilities for any such period in all material respects and, since December 31, 2010, the Company and the
Guarantor have not incurred any liability for taxes other than in the ordinary course of its business. There is no tax lien, whether imposed by any federal, state, foreign or other taxing authority, outstanding against the assets, properties or
business of the Company or the Guarantor. 
 (z) No Labor Disputes. No labor disturbance by the employees of the Company
or the Guarantor exists or, to the best of the Company and the Guarantor’s knowledge, is imminent and the Company and the Guarantor are not aware of any existing or imminent labor disturbances by the employees of any of its or the
Guarantor’s principal suppliers, manufacturers, customers or contractors, which, in either case (individually or in the aggregate), could reasonably be expected to have a Material Adverse Effect. 

(aa) Hazardous Substances. There has been no storage, generation, transportation, handling, treatment, disposal, discharge,
emission or other release of any kind of toxic or other wastes or other hazardous substances by, due to, or caused 

  
 11 

 
by the Company or the Guarantor (or, to the Company’s and the Guarantor’s knowledge, any other entity for whose acts or omissions the Company or the Guarantor is or may be liable) upon
any property now or previously owned or leased by the Company or the Guarantor, or upon any other property, which would be a violation of or give rise to any liability under any applicable law, rule, regulation, order, judgment, decree or permit
relating to pollution or protection of human health (to the extent relating to exposure to toxic or other wastes or other hazardous substances), natural resources or the environment (“Environmental Law”), except for any violation or
liability which could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. There has been no disposal, discharge, emission or other release of any kind onto such property or into the environment
surrounding such property of any toxic or other wastes or other hazardous substances, except as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Neither the Company nor the Guarantor has agreed
to assume, undertake or provide indemnification for any liability of any other person under any Environmental Law, including any obligation for cleanup or remedial action. There is no pending or, to the best of the Company’s and the
Guarantor’s knowledge, threatened administrative, regulatory or judicial action, claim, notice of non-compliance or violation, investigation or proceedings relating to any Environmental Law against the Company or the Guarantor, except where
such action, claim, notice, non-compliance, violation, investigation or proceedings could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Each of the Company and the Guarantor is in compliance with
any and all Environmental Laws and has received and is in compliance with all permits, licenses or other approvals required of them under any and all Environmental Laws to conduct their respective businesses except where such non-compliance or
failure to receive could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. There are no costs and liabilities relating to Environmental Laws that could, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. 
 (bb) Compliance With ERISA. No “prohibited transaction” (as
defined in either Section 406 of the Employee Retirement Income Security Act of 1974, as amended, including the regulations and published interpretations thereunder (“ERISA”) or Section 4975 of the Internal Revenue Code of 1986,
as amended from time to time (the “Code”)), “accumulated funding deficiency” (as defined in Section 302 of ERISA) or other event of the kind described in Section 4043(b) of ERISA (other than events with respect to which
the 30-day notice requirement under Section 4043 of ERISA has been waived) has occurred with respect to any employee benefit plan for which the Company or the Guarantor would have any liability; each employee benefit plan for which the Company
or the Guarantor would have any liability is in compliance in all material respects with applicable law, including (without limitation) ERISA and the Code; neither the Company nor the Guarantor has incurred and does not expect to incur liability
under Title IV of ERISA with respect to the termination of, or withdrawal from any “pension plan”; and each plan for which the Company or the Guarantor would have any liability that is intended to be qualified under Section 401(a) of
the Code is so qualified and nothing has occurred, whether by action or by failure to act, which could cause the loss of such qualification. 

  
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 (cc) Disclosure Controls. The Company and the Guarantor maintain an effective system
of “disclosure controls and procedures” (as defined in Rule 13a-15(e) of the Exchange Act) that is designed to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is
recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms, including controls and procedures designed to ensure that such information is accumulated and communicated to the Company’s
management as appropriate to allow timely decisions regarding required disclosure. The Company and the Guarantor have carried out evaluations of the effectiveness of their disclosure controls and procedures as required by Rule 13a-15 of the Exchange
Act. 
 (dd) Accounting Controls. The Company and the Guarantor maintain a system of internal accounting and other
controls sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial
statements in conformity with United States generally accepted accounting principles and to maintain accountability for assets, (iii) access to assets is permitted only in accordance with management’s general or specific authorization, and
(iv) the recorded accounting for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences. 
 (ee) Insurance. The Company and the Guarantor maintain insurance in such amounts and covering such risks as the Company and the Guarantor reasonably consider adequate for the conduct of their
business and the value of their properties and as is customary for companies engaged in similar businesses in similar industries, all of which insurance is in full force and effect, except where the failure to maintain such insurance could not
reasonably be expected to have a Material Adverse Effect. There are no material claims by the Company or the Guarantor under any such policy or instrument as to which any insurance company is denying liability or defending under a reservation of
rights clause. The Company and the Guarantor reasonably believe that they will be able to renew their existing insurance as and when such coverage expires or will be able to obtain replacement insurance adequate for the conduct of the business and
the value of its properties at a cost that could not reasonably be expected to have a Material Adverse Effect. 
 (ff) No
Stabilization. Neither the Company nor the Guarantor nor any of their affiliates (within the meaning of Rule 144 under the Securities Act) has taken, directly or indirectly, any action which constitutes or is designed to cause or result in, or
which could reasonably be expected to constitute, cause or result in, the stabilization or manipulation of the price of any security to facilitate the sale or resale of the Securities. 

  
 13 

 (gg) Related Party Transactions. No relationship, direct or indirect, exists between
or among the Company or any affiliate of the Company, on the one hand, and any director, officer, stockholder, customer or supplier of the Company or any affiliate of the Company, on the other hand, which is required by the Exchange Act to be
described in the Company’s annual and/or quarterly reports on Form 10-K and 10-Q, as applicable, which is not so described and described as required in such reports. There are no outstanding loans, advances (except normal advances for business
expenses in the ordinary course of business) or guarantees of indebtedness by the Company or the Guarantor to or for the benefit of any of the officers or directors of the Company or any of their respective family members. The Company has not, in
violation of the Sarbanes-Oxley Act, directly or indirectly, including through the Guarantor, extended or maintained credit, arranged for the extension of credit, or renewed an extension of credit, in the form of a personal loan to or for any
director or executive officer of the Company. 
 (hh) No Unlawful Payments. Neither the Company nor the Guarantor nor, to
the best knowledge of the Company and the Guarantor, any director, officer, agent, employee or other person associated with or acting on behalf of the Company or the Guarantor has (i) used any corporate funds for any unlawful contribution,
gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; (iii) violated or is in
violation of any provision of the Foreign Corrupt Practices Act of 1977; or (iv) made any bribe, rebate, payoff, influence payment, kickback or other unlawful payment. 
 (ii) Compliance with Money Laundering Laws. The operations of the Company and the Guarantor are and have been conducted at all times in compliance with applicable financial recordkeeping and
reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines,
issued, administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the
Company or the Guarantor with respect to the Money Laundering Laws is pending or, to the best knowledge of the Company and the Guarantor, threatened. 
 (jj) Compliance with OFAC. None of the Company, the Guarantor or, to the knowledge of the Company and the Guarantor, any director, officer, agent, employee or affiliate of the Company or the
Guarantor is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury (“OFAC”); and the Company will not directly or indirectly use the proceeds of the offering of
the Securities hereunder, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S.
sanctions administered by OFAC. 

  
 14 

 (kk) Solvency. On and immediately after the Closing Date, the Company (after giving
effect to the issuance of the Securities and the other transactions related thereto as described in each of the Time of Sale Information and the Offering Memorandum) will be Solvent. As used in this paragraph, the term “Solvent” means,
with respect to a particular date, that on such date (i) the present fair market value (or present fair saleable value) of the assets of the Company is not less than the total amount required to pay the liabilities of the Company on its total
existing debts and liabilities (including contingent liabilities) as they become absolute and matured; (ii) the Company is able to realize upon its assets and pay its debts and other liabilities, contingent obligations and commitments as they
mature and become due in the normal course of business; (iii) assuming consummation of the issuance of the Securities as contemplated by this Agreement, the Time of Sale Information and the Offering Memorandum, the Company is not incurring
debts or liabilities beyond its ability to pay as such debts and liabilities mature; (iv) the Company is not engaged in any business or transaction, and does not propose to engage in any business or transaction, for which its property would
constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which the Company is engaged; and (v) the Company is not a defendant in any civil action that would result in a judgment that the
Company is or would become unable to satisfy. 
 (ll) Rule 144A Eligibility. On the Closing Date, the Securities will not
be of the same class as securities listed on a national securities exchange registered under Section 6 of the Exchange Act or quoted in an automated inter-dealer quotation system; and each of the Preliminary Offering Memorandum and the Offering
Memorandum, as of its respective date, contains or will contain all the information that, if requested by a prospective purchaser of the Securities, would be required to be provided to such prospective purchaser pursuant to Rule 144A(d)(4) under the
Securities Act. 
 (mm) No Integration. Neither the Company nor any of its affiliates (as defined in Rule 501(b) of
Regulation D) has, directly or through any agent, sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of, any security (as defined in the Securities Act), that is or will be integrated with the sale of the Securities
in a manner that would require registration of the Securities under the Securities Act. 
 (nn) No General Solicitation or
Directed Selling Efforts. None of the Company or any of its affiliates or any other person acting on its or their behalf (other than the Initial Purchasers, as to which no representation is made) has (i) solicited offers for, or offered or
sold, the Securities by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering within the meaning of Section 4(2) of the Securities Act or
(ii) engaged in any directed selling efforts within the meaning of Regulation S under the Securities Act (“Regulation S”), and all such persons have complied with the offering restrictions requirement of Regulation S. 

(oo) Securities Law Exemptions. Assuming the accuracy of the representations and warranties of the Initial Purchasers contained in
Section 1(b) (including Annex C hereto) and their compliance with their agreements set forth therein, 

  
 15 

 
it is not necessary, in connection with the issuance and sale of the Securities to the Initial Purchasers and the offer, resale and delivery of the Securities by the Initial Purchasers in the
manner contemplated by this Agreement, the Time of Sale Information and the Offering Memorandum, to register the Securities under the Securities Act or to qualify the Indenture under the Trust Indenture Act. 

Any certificate signed by or on behalf of the Company or the Guarantor and delivered to the Initial Purchasers or to counsel for the
Initial Purchasers shall be deemed to be a representation and warranty by the Company or the Guarantor (as applicable) to the Initial Purchasers as to the matters covered thereby. 

4. Further Agreements of the Company and the Guarantor. The Company and the Guarantor jointly and severally covenant and agree
with each Initial Purchaser that: 
 (a) Delivery of Copies. The Company will deliver, without charge, to the Initial
Purchasers as many copies of the Preliminary Offering Memorandum, any other Time of Sale Information, any Issuer Written Communication and the Offering Memorandum (including all amendments and supplements thereto) as the Representative may
reasonably request. 
 (b) Offering Memorandum, Amendments or Supplements. Before finalizing the Offering Memorandum or
making or distributing any amendment or supplement to any of the Time of Sale Information or the Offering Memorandum or filing with the Commission any document that will be incorporated by reference therein, the Company will furnish to the
Representative and counsel for the Initial Purchasers a copy of the proposed Offering Memorandum or such amendment or supplement or document to be incorporated by reference therein for review, and will not distribute any such proposed Offering
Memorandum, amendment or supplement or file any such document with the Commission to which the Representative reasonably objects. 
 (c) Additional Written Communications. Before making, preparing, using, authorizing, approving or referring to any Issuer Written Communication, the Company and the Guarantor will furnish to the
Representative and counsel for the Initial Purchasers a copy of such written communication for review and will not make, prepare, use, authorize, approve or refer to any such written communication to which the Representative reasonably objects.

 (d) Notice to the Representative. The Company will advise the Representative promptly, and confirm such advice in
writing, (i) of the issuance by any governmental or regulatory authority of any order preventing or suspending the use of any of the Time of Sale Information, any Issuer Written Communication or the Offering Memorandum or the initiation or
threatening of any proceeding for that purpose; (ii) of the occurrence of any event at any time prior to the completion of the initial offering of the Securities as a result of which any of the Time of Sale Information, any Issuer Written
Communication or the Offering Memorandum as then amended or 

  
 16 

 
supplemented would include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing
when such Time of Sale Information, Issuer Written Communication or the Offering Memorandum is delivered to a purchaser, not misleading; and (iii) of the receipt by the Company of any notice with respect to any suspension of the qualification
of the Securities for offer and sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and the Company will use its reasonable best efforts to prevent the issuance of any such order preventing or suspending the
use of any of the Time of Sale Information, any Issuer Written Communication or the Offering Memorandum or suspending any such qualification of the Securities and, if any such order is issued, will obtain as soon as possible the withdrawal thereof.

 (e) Time of Sale Information. If at any time prior to the Closing Date (i) any event shall occur or
condition shall exist as a result of which any of the Time of Sale Information as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading or (ii) it is necessary to amend or supplement any of the Time of Sale Information to comply with law, the Company will immediately notify the Initial
Purchasers thereof and forthwith prepare and, subject to paragraph (b) above, furnish to the Initial Purchasers such amendments or supplements to any of the Time of Sale Information (or any document to be filed with the Commission and
incorporated by reference therein) as may be necessary so that the statements in any of the Time of Sale Information as so amended or supplemented (including such document to be incorporated by reference therein) will not, in light of the
circumstances under which they were made, be misleading or so that any of the Time of Sale Information will comply with law.  
 (f) Ongoing Compliance of the Offering Memorandum. If at any time prior to the completion of the initial offering of the Securities (i) any event shall occur or condition shall exist as a
result of which the Offering Memorandum as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances
existing when the Offering Memorandum is delivered to a purchaser, not misleading or (ii) it is necessary to amend or supplement the Offering Memorandum to comply with law, the Company will as soon as practicable notify the Initial Purchasers
thereof and forthwith prepare and, subject to paragraph (b) above, furnish to the Initial Purchasers such amendments or supplements to the Offering Memorandum (or any document to be filed with the Commission and incorporated by reference
therein) as may be necessary so that the statements in the Offering Memorandum as so amended or supplemented (including such document to be incorporated by reference therein) will not, in the light of the circumstances existing when the Offering
Memorandum is delivered to a purchaser, be misleading or so that the Offering Memorandum will comply with law. 

  
 17 

 (g) Blue Sky Compliance. The Company will qualify the Securities for offer and sale
under the securities or Blue Sky laws of such jurisdictions as the Representative shall reasonably request and will continue such qualifications in effect so long as required for the offering and resale of the Securities; provided that
neither the Company nor the Guarantor shall be required to (i) qualify as a foreign corporation or other entity or as a dealer in securities in any such jurisdiction where it would not otherwise be required to so qualify, (ii) file any
general consent to service of process in any such jurisdiction or (iii) subject itself to taxation in any such jurisdiction if it is not otherwise so subject. 
 (h) Clear Market. During the period from the date hereof through and including the date that is 60 days after the date hereof, the Company and the Guarantor will not, without the prior written
consent of the Representative, offer, sell, contract to sell or otherwise dispose of any debt securities issued or guaranteed by the Company or the Guarantor and having a tenor of more than one year. 

(i) Use of Proceeds. The Company will apply the net proceeds from the sale of the Securities as described in each of the Time of
Sale Information and the Offering Memorandum under the heading “Use of proceeds”. 
 (j) Supplying Information.
While the Securities remain outstanding and are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, the Company and the Guarantor will, during any period in which the Company is not subject to and in
compliance with Section 13 or 15(d) of the Exchange Act, furnish to holders of the Securities and prospective purchasers of the Securities designated by such holders, upon the request of such holders or such prospective purchasers, the
information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 (k) DTC. The Company will
assist the Initial Purchasers in arranging for the Securities to be eligible for clearance and settlement through The Depository Trust Company (“DTC”). 
 (l) No Resales by the Company. The Company will not, and will not permit any of its affiliates (as defined in Rule 144 under the Securities Act) to, resell any of the Securities that have been
acquired by any of them, except for Securities purchased by the Company or any of its affiliates and resold in a transaction registered under the Securities Act. 
 (m) No Integration. Neither the Company nor any of its affiliates (as defined in Rule 501(b) of Regulation D) will, directly or through any agent, sell, offer for sale, solicit offers to buy or
otherwise negotiate in respect of, any security (as defined in the Securities Act), that is or will be integrated with the sale of the Securities in a manner that would require registration of the Securities under the Securities Act. 

(n) No General Solicitation or Directed Selling Efforts. None of the Company or any of its affiliates or any other person acting
on its or their behalf (other than the 

  
 18 

 
Initial Purchasers, as to which no covenant is given) will (i) solicit offers for, or offer or sell, the Securities by means of any form of general solicitation or general advertising within
the meaning of Rule 502(c) of Regulation D or in any manner involving a public offering within the meaning of Section 4(2) of the Securities Act or (ii) engage in any directed selling efforts within the meaning of Regulation S, and all
such persons will comply with the offering restrictions requirement of Regulation S. 
 (o) No Stabilization. Neither the
Company nor the Guarantor will take, directly or indirectly, any action designed to or that could reasonably be expected to cause or result in any stabilization or manipulation of the price of the Securities. 

5. Certain Agreements of the Initial Purchasers. Each Initial Purchaser hereby represents and agrees that it has not and will not
use, authorize use of, refer to, or participate in the planning for use of, any written communication that constitutes an offer to sell or the solicitation of an offer to buy the Securities other than (i) the Preliminary Offering Memorandum and
the Offering Memorandum, (ii) a written communication that contains no “issuer information” (as defined in Rule 433(h)(2) under the Securities Act) that was not included (including through incorporation by reference) in the
Preliminary Offering Memorandum or the Offering Memorandum, (iii) any written communication listed on Annex A or prepared pursuant to Section 4(c) above (including any electronic road show), (iv) any written communication prepared by
such Initial Purchaser and approved by the Company in advance in writing or (v) any written communication relating to or that contains the terms of the Securities and/or other information that was included (including through incorporation by
reference) in the Preliminary Offering Memorandum or the Offering Memorandum. 
 6. Conditions of Initial Purchasers’
Obligations. The obligation of each Initial Purchaser to purchase Securities on the Closing Date as provided herein is subject to the performance by the Company and the Guarantor of their respective covenants and other obligations hereunder and
to the following additional conditions: 
 (a) Representations and Warranties. The representations and warranties of the
Company and the Guarantor contained herein shall be true and correct on the date hereof and on and as of the Closing Date; and the statements of the Company, the Guarantor and their respective officers made in any certificates delivered pursuant to
this Agreement shall be true and correct on and as of the Closing Date. 
 (b) No Downgrade. Subsequent to the earlier of
(A) the Time of Sale and (B) the execution and delivery of this Agreement, (i) no downgrading shall have occurred in the rating accorded the Securities or any other debt securities or preferred stock issued or guaranteed by the
Company or the Guarantor by any “nationally recognized statistical rating organization”, as such term is defined by the Commission for purposes of Rule 436(g)(2) under the Securities Act (as in effect on July 20, 2010); and
(ii) no such organization shall have publicly announced that it has under surveillance or review, or has changed its outlook with respect to, its rating of the Securities or of any other debt securities or preferred stock issued or guaranteed
by the Company or the Guarantor (other than an announcement with positive implications of a possible upgrading). 

  
 19 

 (c) No Material Adverse Change. No event or condition of a type described in
Section 3(e) hereof shall have occurred or shall exist, which event or condition is not described in each of the Time of Sale Information (excluding any amendment or supplement thereto) and the Offering Memorandum (excluding any amendment or
supplement thereto) the effect of which in the judgment of the Representative makes it impracticable or inadvisable to proceed with the offering, sale or delivery of the Securities on the terms and in the manner contemplated by this Agreement, the
Time of Sale Information and the Offering Memorandum. 
 (d) Officer’s Certificate. The Representative shall have
received on and as of the Closing Date a certificate of an executive officer of the Company and of the Guarantor who has specific knowledge of the Company’s or such Guarantor’s financial matters and is satisfactory to the Representative
(i) confirming that such officer has carefully reviewed the Time of Sale Information and the Offering Memorandum and, to the best knowledge of such officer, the representations set forth in Sections 3(a) and 3(b) hereof are true and correct,
(ii) confirming that the other representations and warranties of the Company and the Guarantor in this Agreement are true and correct and that the Company and the Guarantor have complied with all agreements and satisfied all conditions on their
part to be performed or satisfied hereunder at or prior to the Closing Date and (iii) to the effect set forth in paragraphs (b) and (c) above. 
 (e) Chief Financial Officer’s Certificate. The Representative shall have received letters, dated, respectively, the date of this Agreement and the Closing Date, executed by the Chief Financial
Officer of the Company, in form and substance reasonably satisfactory to the Representative, to the effect set forth in Annex D and E hereto. 
 (f) Comfort Letters. On the date of this Agreement and on the Closing Date, Ernst & Young LLP shall have furnished to the Representative, at the request of the Company, letters, dated the
respective dates of delivery thereof and addressed to the Initial Purchasers, in form and substance reasonably satisfactory to the Representative, containing statements and information of the type customarily included in accountants’
“comfort letters” to underwriters with respect to the financial statements and certain financial information contained or incorporated by reference in each of the Time of Sale Information and the Offering Memorandum; provided that
the letter delivered on the Closing Date shall use a “cut-off” date no more than three business days prior to the Closing Date. 
 (g) Comfort Letter From Netherland Sewell. The Initial Purchasers shall have received letters from Netherland Sewell, an independent petroleum engineers firm for the Company, dated, respectively,
as of the date hereof and as of the Closing Date, addressed to the Initial Purchasers and in form and substance satisfactory to the Initial Purchasers and Initial Purchasers’ Counsel, with respect to the estimated quantities of

  
 20 

 
the Company’s reserves, the future net revenues from those reserves and their present value as set forth in the Time of Sale Information and the Offering Memorandum and such related matters
as the Initial Purchasers shall reasonably request. 
 (h) Opinion of Counsel for the Company. Vinson & Elkins
L.L.P., counsel for the Company, shall have furnished to the Representative, at the request of the Company, their written opinion, dated the Closing Date and addressed to the Initial Purchasers, in form and substance reasonably satisfactory to the
Representative, to the effect set forth in Annex F hereto. 
 (i) Opinion of Louisiana and Texas Counsel for the Company.
Gordon Arata McCollam Duplantis & Eagan, LLC, Louisiana and Texas counsel for the Company, shall have furnished to the Representative, at the request of the Company, their written opinion, dated the Closing Date, and addressed to the
Initial Purchasers, in form and substance reasonably satisfactory to the Representative, to the effect set forth in Annex G hereto. 
 (j) Opinion of General Counsel for the Company. Michael J. Killelea, General Counsel for the Company, shall have furnished to the Representative, at the request of the Company, his written opinion,
dated the Closing Date, and addressed to the Initial Purchasers, in form and substance reasonably satisfactory to the Representative, to the effect set forth in Annex H hereto. 

(k) Opinion of Counsel for the Initial Purchasers. The Representative shall have received on and as of the Closing Date an opinion
and 10b-5 statement of Davis Polk & Wardwell LLP, counsel for the Initial Purchasers, with respect to such matters as the Representative may reasonably request, and such counsel shall have received such documents and information as they may
reasonably request to enable them to pass upon such matters. 
 (l) No Legal Impediment to Issuance. No action shall have
been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any federal, state or foreign governmental or regulatory authority that would, as of the Closing Date, prevent the issuance or sale of the Securities
or the issuance of the Guarantee; and no injunction or order of any federal, state or foreign court shall have been issued that would, as of the Closing Date, prevent the issuance or sale of the Securities or the issuance of the Guarantee.

 (m) Good Standing. The Representative shall have received on and as of the Closing Date satisfactory evidence of the
good standing of the Company and the Guarantor in their respective jurisdictions of organization and their good standing in such other jurisdictions as the Representative may reasonably request, in each case in writing or any standard form of
telecommunication, from the appropriate governmental authorities of such jurisdictions. 

  
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 (n) Registration Rights Agreement. The Initial Purchasers shall have received a
counterpart of the Registration Rights Agreement that shall have been executed and delivered by a duly authorized officer of the Company and the Guarantor. 
 (o) DTC. The Securities shall be eligible for clearance and settlement through DTC. 
 (p) The Amended Credit Agreement shall have been amended to permit the issuance and sale of the Securities, and as described in the Time of Sale Information, and the applicable amendment shall be in
effect on the Closing Date. 
 (q) Additional Documents. On or prior to the Closing Date, the Company and the Guarantor
shall have furnished to the Representative such further certificates and documents as the Representative may reasonably request. 
 All opinions, letters, certificates and evidence mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if they are in form and substance
reasonably satisfactory to counsel for the Initial Purchasers. 
 7. Indemnification and Contribution. 

(a) Indemnification of the Initial Purchasers. The Company and the Guarantor jointly and severally agree to indemnify and hold
harmless each Initial Purchaser, its affiliates, directors and officers and each person, if any, who controls such Initial Purchaser within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against
any and all losses, claims, damages and liabilities (including, without limitation, legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or
several, that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Preliminary Offering Memorandum, any of the other Time of Sale Information, any Issuer Written Communication or the
Offering Memorandum (or any amendment or supplement thereto) or any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading, in each case except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any
information relating to any Initial Purchaser furnished to the Company in writing by such Initial Purchaser through the Representative expressly for use therein. 
 (b) Indemnification of the Company. Each Initial Purchaser agrees, severally and not jointly, to indemnify and hold harmless the Company, the Guarantor, each of their respective directors and
officers and each person, if any, who controls the Company or the Guarantor within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the indemnity set forth in

  
 22 

 
paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or
omission made in reliance upon and in conformity with any information relating to such Initial Purchaser furnished to the Company in writing by such Initial Purchaser through the Representative expressly for use in the Preliminary Offering
Memorandum, any of the other Time of Sale Information, any Issuer Written Communication or the Offering Memorandum (or any amendment or supplement thereto), it being understood and agreed that the only such information consists of the following
information in the Preliminary Offering Memorandum: the
4th sentence of the 8th paragraph and the 10th paragraph under the caption “Plan of Distribution.”

 (c) Notice and Procedures. If any suit, action, proceeding (including any governmental or regulatory investigation),
claim or demand shall be brought or asserted against any person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such person (the “Indemnified Person”) shall promptly notify the
person against whom such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have under paragraph
(a) or (b) above except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying
Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise than under paragraph (a) or (b) above. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have
notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to
represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 7 that the Indemnifying Person may designate in such proceeding and shall pay the fees and expenses of such proceeding and shall pay the fees
and expenses of such counsel related to such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such
Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time to retain counsel reasonably satisfactory to the
Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the Indemnifying Person; or (iv) the named
parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing
interests between them. It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in
addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such separate firm for any Initial Purchaser, its affiliates, directors and officers and any control
persons of such Initial Purchaser shall be designated in 

  
 23 

 
writing by J.P. Morgan Securities LLC and any such separate firm for the Company, the Guarantor, their respective directors and officers and any control persons of the Company and the Guarantor
shall be designated in writing by the Company. The Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff,
the Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall have requested
that an Indemnifying Person reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this paragraph, the Indemnifying Person shall be liable for any settlement of any proceeding effected without its written consent if
(i) such settlement is entered into more than 30 days after receipt by the Indemnifying Person of such request and (ii) the Indemnifying Person shall not have reimbursed the Indemnified Person in accordance with such request prior to the
date of such settlement. No Indemnifying Person shall, without the written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party and
indemnification could have been sought hereunder by such Indemnified Person, unless such settlement (x) includes an unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified Person, from
all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person. 

(d) Contribution. If the indemnification provided for in paragraphs (a) and (b) above is unavailable to an Indemnified
Person or insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid
or payable by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantor on the one hand and the Initial
Purchasers on the other from the offering of the Securities or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in
clause (i) but also the relative fault of the Company and the Guarantor on the one hand and the Initial Purchasers on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well
as any other relevant equitable considerations. The relative benefits received by the Company and the Guarantor on the one hand and the Initial Purchasers on the other shall be deemed to be in the same respective proportions as the net proceeds
(before deducting expenses) received by the Company from the sale of the Securities and the total discounts and commissions received by the Initial Purchasers in connection therewith, as provided in this Agreement, bear to the aggregate offering
price of the Securities. The relative fault of the Company and the Guarantor on the one hand and the Initial Purchasers on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a 

  
 24 

 
material fact relates to information supplied by the Company or any Guarantor or by the Initial Purchasers and the parties’ relative intent, knowledge, access to information and opportunity
to correct or prevent such statement or omission. 
 (e) Limitation on Liability. The Company, the Guarantor and the
Initial Purchasers agree that it would not be just and equitable if contribution pursuant to this Section 7 were determined by pro rata allocation (even if the Initial Purchasers were treated as one entity for such purpose) or by
any other method of allocation that does not take account of the equitable considerations referred to in paragraph (d) above. The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities
referred to in paragraph (d) above shall be deemed to include, subject to the limitations set forth above, any legal or other expenses incurred by such Indemnified Person in connection with any such action or claim. Notwithstanding the
provisions of this Section 7, in no event shall an Initial Purchaser be required to contribute any amount in excess of the amount by which the total discounts and commissions received by such Initial Purchaser with respect to the offering of
the Securities exceeds the amount of any damages that such Initial Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Initial Purchasers’ obligations to contribute pursuant to this
Section 7 are several in proportion to their respective purchase obligations hereunder and not joint. 
 (f)
Non-Exclusive Remedies. The remedies provided for in this Section 7 are not exclusive and shall not limit any rights or remedies that may otherwise be available to any Indemnified Person at law or in equity. 

8. Termination. This Agreement may be terminated in the absolute discretion of the Representative, by notice to the Company, if
after the execution and delivery of this Agreement and on or prior to the Closing Date (i) trading generally shall have been suspended or materially limited on the New York Stock Exchange or the NASDAQ Global Market; (ii) trading of any
securities issued or guaranteed by the Company or the Guarantor shall have been suspended on any exchange or in any over-the-counter market; (iii) a general moratorium on commercial banking activities shall have been declared by federal or New
York State authorities; or (iv) there shall have occurred any outbreak or escalation of hostilities or any change in financial markets or any calamity or crisis, either within or outside the United States, that, in the judgment of the
Representative, is material and adverse and makes it impracticable or inadvisable to proceed with the offering, sale or delivery, of the Securities on the terms and in the manner contemplated by this Agreement, the Time of Sale Information and the
Offering Memorandum. 
 9. Defaulting Initial Purchaser. (a) If, on the Closing Date, any Initial Purchaser defaults
on its obligation to purchase the Securities that it has agreed to purchase hereunder, the non-defaulting Initial Purchasers may in their discretion arrange 

  
 25 

 
for the purchase of such Securities by other persons satisfactory to the Company on the terms contained in this Agreement. If, within 36 hours after any such default by any Initial Purchaser, the
non-defaulting Initial Purchasers do not arrange for the purchase of such Securities, then the Company shall be entitled to a further period of 36 hours within which to procure other persons satisfactory to the non-defaulting Initial Purchasers to
purchase such Securities on such terms. If other persons become obligated or agree to purchase the Securities of a defaulting Initial Purchaser, either the non-defaulting Initial Purchasers or the Company may postpone the Closing Date for up to five
full business days in order to effect any changes that in the opinion of counsel for the Company or counsel for the Initial Purchasers may be necessary in the Time of Sale Information, the Offering Memorandum or in any other document or arrangement,
and the Company agrees to promptly prepare any amendment or supplement to the Time of Sale Information or the Offering Memorandum that effects any such changes. As used in this Agreement, the term “Initial Purchaser” includes, for all
purposes of this Agreement unless the context otherwise requires, any person not listed in Schedule 1 hereto that, pursuant to this Section 9, purchases Securities that a defaulting Initial Purchaser agreed but failed to purchase. 

(b) If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Initial Purchaser or Initial
Purchasers by the non-defaulting Initial Purchasers and the Company as provided in paragraph (a) above, the aggregate principal amount of such Securities that remains unpurchased does not exceed one-eleventh of the aggregate principal amount of
all the Securities, then the Company shall have the right to require each non-defaulting Initial Purchaser to purchase the principal amount of Securities that such Initial Purchaser agreed to purchase hereunder plus such Initial Purchaser’s
pro rata share (based on the principal amount of Securities that such Initial Purchaser agreed to purchase hereunder) of the Securities of such defaulting Initial Purchaser or Initial Purchasers for which such arrangements have not
been made. 
 (c) If, after giving effect to any arrangements for the purchase of the Securities of a defaulting Initial
Purchaser or Initial Purchasers by the non-defaulting Initial Purchasers and the Company as provided in paragraph (a) above, the aggregate principal amount of such Securities that remains unpurchased exceeds one-eleventh of the aggregate
principal amount of all the Securities, or if the Company shall not exercise the right described in paragraph (b) above, then this Agreement shall terminate without liability on the part of the non-defaulting Initial Purchasers. Any termination
of this Agreement pursuant to this Section 9 shall be without liability on the part of the Company or the Guarantor, except that the Company and the Guarantor will continue to be liable for the payment of expenses as set forth in
Section 10 hereof and except that the provisions of Section 7 hereof shall not terminate and shall remain in effect. 

(d) Nothing contained herein shall relieve a defaulting Initial Purchaser of any liability it may have to the Company, the Guarantor or
any non-defaulting Initial Purchaser for damages caused by its default. 
 10. Payment of Expenses. (a) Whether or
not the transactions contemplated by this Agreement are consummated or this Agreement is terminated, the Company and 

  
 26 

 
the Guarantor jointly and severally agree to pay or cause to be paid all costs and expenses incident to the performance of their respective obligations hereunder, including without limitation,
(i) the costs incident to the authorization, issuance, sale, preparation and delivery of the Securities and any taxes payable in that connection; (ii) the costs incident to the preparation and printing of the Preliminary Offering
Memorandum, any other Time of Sale Information, any Issuer Written Communication and the Offering Memorandum (including any amendment or supplement thereto) and the distribution thereof; (iii) the costs of reproducing and distributing each of
the Transaction Documents; (iv) the fees and expenses of the Company’s and the Guarantor’s counsel and independent accountants; (v) the fees and expenses incurred in connection with the registration or qualification and
determination of eligibility for investment of the Securities under the laws of such jurisdictions as the Representative may designate and the preparation, printing and distribution of a Blue Sky Memorandum (including the related fees and expenses
of counsel for the Initial Purchasers); (vi) any fees charged by rating agencies for rating the Securities; (vii) the fees and expenses of the Trustee and any paying agent (including related fees and expenses of any counsel to such
parties); (viii) all expenses and application fees incurred in connection with the approval of the Securities for book-entry transfer by DTC; and (ix) all expenses incurred by the Company in connection with any “road show”
presentation to potential investors, except that the Initial Purchasers will pay fifty percent of any expenses incurred in connection with the use of any private aircraft in connection with any such “road show.” 

(b) If (i) this Agreement is terminated pursuant to Section 8, (ii) the Company for any reason fails to tender the
Securities for delivery to the Initial Purchasers or (iii) the Initial Purchasers decline to purchase the Securities for any reason permitted under this Agreement, the Company and the Guarantor jointly and severally agrees to reimburse the
Initial Purchasers for all out-of-pocket costs and expenses (including the fees and expenses of their counsel) reasonably incurred by the Initial Purchasers in connection with this Agreement and the offering contemplated hereby. 

11. Persons Entitled to Benefit of Agreement. This Agreement shall inure to the benefit of and be binding upon the parties hereto
and their respective successors and any controlling persons referred to herein, and the affiliates, officers and directors of each Initial Purchaser referred to in Section 7 hereof. Nothing in this Agreement is intended or shall be construed to
give any other person any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision contained herein. No purchaser of Securities from any Initial Purchaser shall be deemed to be a successor merely by reason of
such purchase. 
 12. Survival. The respective indemnities, rights of contribution, representations, warranties and
agreements of the Company, the Guarantor and the Initial Purchasers contained in this Agreement or made by or on behalf of the Company, the Guarantor or the Initial Purchasers pursuant to this Agreement or any certificate delivered pursuant hereto
shall survive the delivery of and payment for the Securities and shall remain in full force and effect, regardless of any termination of this Agreement or any investigation made by or on behalf of the Company, the Guarantor or the Initial
Purchasers. 

  
 27 

 12. Certain Defined Terms. For purposes of this Agreement, (a) except where
otherwise expressly provided, the term “affiliate” has the meaning set forth in Rule 405 under the Securities Act; (b) the term “business day” means any day other than a day on which banks are permitted or required to be
closed in New York City; (c) the term “Exchange Act” means the Securities Exchange Act of 1934, as amended; (d) the term “subsidiary” has the meaning set forth in Rule 405 under the Securities Act; and (e) the term
“written communication” has the meaning set forth in Rule 405 under the Securities Act. 
 13. Miscellaneous.
(a) Authority of the Representative. Any action by the Initial Purchasers hereunder may be taken by J.P. Morgan Securities LLC on behalf of the Initial Purchasers, and any such action taken by J.P. Morgan Securities LLC shall be binding
upon the Initial Purchasers. 
 (b) Notices. All notices and other communications hereunder shall be in writing and shall
be deemed to have been duly given if mailed or transmitted and confirmed by any standard form of telecommunication. Notices to the Initial Purchasers shall be given to the Representative c/o J.P. Morgan Securities LLC, 383 Madison Avenue, New York,
New York 10179 (fax: (713)-216-8870); Attention: Jack Smith. Notices to the Company and the Guarantor shall be given to them at the address set forth in the Offering Memorandum, Attention: Michael J. Killelea, telecopy (713) 780-9494, with a
copy to counsel to the Company at Vinson & Elkins L.L.P., First City Tower, 1001 Fannin Street, Suite 2500, Houston, Texas 77002, Attention: James M. Prince, telecopy (713) 615-5962. 

(c) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

 (d) Counterparts. This Agreement may be signed in counterparts (which may include counterparts delivered by any
standard form of telecommunication), each of which shall be an original and all of which together shall constitute one and the same instrument. 
 (e) Amendments or Waivers. No amendment or waiver of any provision of this Agreement, nor any consent or approval to any departure therefrom, shall in any event be effective unless the same shall
be in writing and signed by the parties hereto. 
 (f) Headings. The headings herein are included for convenience of
reference only and are not intended to be part of, or to affect the meaning or interpretation of, this Agreement. 
 If the
foregoing is in accordance with your understanding, please indicate your acceptance of this Agreement by signing in the space provided below. 

  
 28 

 Very truly yours, 

					
	GOODRICH PETROLEUM CORPORATION
		
	By:	 	 /s/ Jan L. Schott

		 	Name:	 	Jan L. Schott, CPA
		 	Title:	 	Senior Vice President and Chief Financial Officer
	
	GOODRICH PETROLEUM COMPANY, L.L.C.
		
	By:	 	 /s/ Jan L. Schott

		 	Name:	 	Jan L. Schott, CPA
		 	Title:	 	Senior Vice President and Chief Financial Officer

 [Signature Page to Purchase Agreement] 

  
 29 

			
	Accepted: February 25, 2011
	
	J.P. MORGAN SECURITIES LLC
	
	For itself and on behalf of the several Initial Purchasers listed in Schedule 1 hereto.
		
	By	 	 /s/ Adam Bernard

		 	Authorized Signatory

[Signature Page to Purchase Agreement] 

  
 30 

 Schedule 1 
  

					
	 Initial Purchaser
	  	Principal Amount	 
		
	 J.P. Morgan Securities LLC
	  	$	82,500,000	  
	 Jefferies & Company, Inc.
	  	$	34,375,000	  
	 BMO Capital Markets Corp.
	  	$	27,500,000	  
	 BNP Paribas Securities Corp.
	  	$	27,500,000	  
	 RBC Capital Markets, LLC
	  	$	27,500,000	  
	 Wells Fargo Securities, LLC
	  	$	27,500,000	  
	 Merrill Lynch, Pierce, Fenner & Smith Incorporated
	  	$	20,625,000	  
	 BBVA Securities Inc.
	  	$	13,750,000	  
	 Morgan Stanley & Co. Incorporated
	  	$	13,750,000	  
		  	 	 	 
	 Total
	  	$	275,000,000	  

  
 31 

 ANNEX A 
  

	a.      Additional	Time of Sale Information 

 1.
Pricing supplement containing the terms of the securities, substantially in the form of Annex B. 

  
 32 

 ANNEX B 
 [Pricing Supplement Follows] 

  
 33 

 February 25, 2011 

Goodrich Petroleum Corporation 
 Pricing Supplement 
  

					
	Issuer:	  	Goodrich Petroleum Corporation
	Security description:	  	Senior notes due 2019
	Distribution:	  	144A/RegS with Registration Rights
	Size:	  	$275,000,000
	Gross proceeds:	  	$275,000,000
	Net proceeds to Issuer (before expenses):	  	$268,812,500
	Maturity:	  	March 15, 2019
	Coupon:	  	8.875%
	Price:	  	100% of face amount
	Yield to maturity:	  	8.875%
	Spread to Benchmark Treasury:	  	+603 bps
	Benchmark Treasury:	  	UST 2.75% due February 15, 2019
	Interest Payment Dates:	  	March 15 and September 15, commencing September 15, 2011
	Clawback:	  	Up to 35% at 108.875%
	Until:	  	March 15, 2014
	Optional Redemption:	  	Make-whole call @ T+50bps prior to March 15, 2015, then:
		  	On or after:	  	Price:
		  	 
		  	March 15, 2015	  	104.438%
		  	March 15, 2016	  	102.219%
		  	March 15, 2017 and thereafter	  	100.000%
	Change of control:	  	Putable at 101% of principal plus accrued interest
	Trade date:	  	February 25, 2011
	Settlement:	  	(T+3); March 2, 2011
	CUSIP:	  	 144A: 382410AD0

RegS: U38254AA3

	ISIN:	  	 144A: US382410AD01
 RegS: USU38254AA38

	Denominations/Multiple:	  	2,000 x 1,000
	Ratings:	  	[Intentionally Omitted]
	Joint book-running managers:	  	J.P. Morgan
		  	Jefferies
		  	BMO Capital Markets
		  	BNP Paribas
		  	RBC Capital Markets
		  	Wells Fargo Securities
		  	BofA Merrill Lynch
	Co-managers:	  	BBVA Securities
		  	Morgan Stanley

 ANNEX C 
 Restrictions on Offers and Sales Outside the United States 
 In connection
with offers and sales of Securities outside the United States: 
 (a) Each Initial Purchaser acknowledges that the Securities
have not been registered under the Securities Act and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an exemption from, or in transactions not subject to, the registration
requirements of the Securities Act. 
 (b) Each Initial Purchaser, severally and not jointly, represents, warrants and agrees
that: 
 (i) Such Initial Purchaser has offered and sold the Securities, and will offer and sell the Securities,
(A) as part of their distribution at any time and (B) otherwise until 40 days after the later of the commencement of the offering of the Securities and the Closing Date, only in accordance with Regulation S under the Securities Act
(“Regulation S”) or Rule 144A or any other available exemption from registration under the Securities Act. 
 (ii) None of such Initial Purchaser or any of its affiliates or any other person acting on its or their behalf has engaged or will engage in any directed selling efforts with respect to the Securities,
and all such persons have complied and will comply with the offering restrictions requirement of Regulation S. 

(iii) At or prior to the confirmation of sale of any Securities sold in reliance on Regulation S, such Initial Purchaser
will have sent to each distributor, dealer or other person receiving a selling concession, fee or other remuneration that purchases Securities from it during the distribution compliance period a confirmation or notice to substantially the following
effect: 
 “The Securities covered hereby have not been registered under the U.S. Securities Act of 1933, as amended (the
“Securities Act”), and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (i) as part of their distribution at any time or (ii) otherwise until 40 days after the later of the
commencement of the offering of the Securities and the date of original issuance of the Securities, except in accordance with Regulation S or Rule 144A or any other available exemption from registration under the Securities Act. Terms used above
have the meanings given to them by Regulation S.” 
 (iv) Such Initial Purchaser has not and will not enter
into any contractual arrangement with any distributor with respect to the distribution of the Securities, except with its affiliates or with the prior written consent of the Company. 

  
 35 

 Terms used in paragraph (a) and this paragraph (b) and not otherwise defined in this Agreement
have the meanings given to them by Regulation S. 
 (c) Each Initial Purchaser, severally and not jointly, represents, warrants
and agrees that: 
 (i) it has only communicated or caused to be communicated and will only communicate or cause
to be communicated any invitation or inducement to engage in investment activity (within the meaning of Section 21 of the United Kingdom Financial Services and Markets Act 2000 (the “FSMA”)) received by it in connection with the issue
or sale of any Securities in circumstances in which Section 21(1) of the FSMA does not apply to the Company or the Guarantor; and 
 (ii) it has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the Securities in, from or otherwise involving the United Kingdom.

 (d) Each Initial Purchaser acknowledges that no action has been or will be taken by the Company that would permit a public
offering of the Securities, or possession or distribution of any of the Time of Sale Information, the Offering Memorandum, any Issuer Written Communication or any other offering or publicity material relating to the Securities, in any country or
jurisdiction where action for that purpose is required. 

  
 36 

 ANNEX D 
 [Form of Chief Financial Officer’s Certificate] 
 GOODRICH PETROLEUM
CORPORATION 
 CHIEF FINANCIAL OFFICER’S CERTIFICATE 

February 25, 2011 

Capitalized terms used but not defined in this certificate have the meaning ascribed to them in the Purchase Agreement, dated February 25, 2011,
among Goodrich Petroleum Corporation (the “Company”), Goodrich Petroleum Company, L.L.C. (the “Guarantor”) and J.P. Morgan Securities LLC, as representative of the several Initial Purchasers named in Schedule 1 thereto (the
“Purchase Agreement”). 
 In connection with the offering by the Company of its 8.875% Senior notes due 2019 (the
“Securities”), and to assist the Initial Purchasers in conducting and documenting their investigation of the affairs of the Company in connection with the offering of the Securities, I, Jan L. Schott, Senior Vice President and Chief
Financial Officer of the Company, do hereby certify (based on a careful examination of the Company’s books and records) on behalf of the Company as follows: 
 1. I have read the financial data marked on the copies of certain pages of the annual report on Form 10-K for the year ended December 31, 2010, attached hereto as Exhibit A (the “Financial
Data”), which is incorporated by reference in the Time of Sale Information (as defined in the Purchase Agreement). With regard to the Financial Data, the Company has performed the following procedure, which was applied as indicated with respect
to the corresponding letter as explained below: 
 A. Compared to or recomputed from amounts in the audited consolidated
financial statements of the Company and notes thereto for the periods indicated and found them to be in agreement. 

[Signature Page Follows] 

  
 37 

 IN WITNESS WHEREOF, the undersigned has signed her name as of the date first written above. 

 

					
	By:	 	  

		 	Name:	 	Jan L. Schott
		 	Title:	 	Senior Vice President and Chief Financial Officer

 [Signature Page to CFO Certificate] 

  
 38 

 ANNEX E 
 [Form of Chief Financial Officer’s Bring-Down Certificate] 
 GOODRICH
PETROLEUM CORPORATION 
 CHIEF FINANCIAL OFFICER’S BRING-DOWN CERTIFICATE 

March 2, 2011 
 Capitalized
terms used but not defined in this certificate have the meaning ascribed to them in the Purchase Agreement, dated February 25, 2011, among Goodrich Petroleum Corporation (the “Company”), Goodrich Petroleum Company, L.L.C. (the
“Guarantor”) and J.P. Morgan Securities LLC, as representative of the several Initial Purchasers named in Schedule 1 thereto (the “Purchase Agreement”). 
 I, Jan L. Schott, Senior Vice President and Chief Financial Officer of the Company, refer to my certificate dated February 25, 2011 (the “Certificate”), relating to the offering of the
Company’s 8.875% Senior Notes due 2019 (the “Securities”), and to assist the Initial Purchasers in conducting and documenting their investigation of the affairs of the Company in connection with the offering of the Securities, do
hereby reaffirm, as of the date hereof (and as though made on the date hereof), all statements made in the Certificate. 

[Signature Page Follows] 

  
 39 

 IN WITNESS WHEREOF, the undersigned has signed her name as of the date first written above. 

 

					
	By:	 	  

		 	Name:	 	Jan L. Schott
		 	Title:	 	Senior Vice President and Chief Financial Officer

 [Signature Page to CFO Bring-Down Certificate] 

  
 40 

 ANNEX F 
 [Form of Opinion of Counsel for the Company and the Guarantor] 
 (a) The Company
has been duly incorporated and validly exists as a corporation in good standing under the laws of the State of Delaware, with requisite corporate power and authority to own its properties and conduct its business as described in the Time of Sale
Information. The Company is duly qualified to do business and in good standing as a foreign corporation in the State of Texas. 

(b) The Company has an authorized capitalization as set forth in each of the Time of Sale Information and the Offering Memorandum under
the heading “Capitalization.” 
 (c) The Company has the requisite corporate power and authority to execute and
deliver each of the Transaction Documents and to perform its obligations thereunder. 
 (d) The Indenture has been duly
authorized, executed and delivered by the Company and duly executed and delivered by the Guarantor insofar as such execution and delivery are governed by the laws of the State of New York, and assuming due execution and delivery thereof by the
Trustee and due authorization, execution and delivery by the Guarantor, insofar as such execution and delivery is governed by the laws of the State of Louisiana, constitutes a legally valid and binding instrument of the Company and the Guarantor
enforceable against the Company and the Guarantor in accordance with its terms, except that the enforcement thereof may be limited by (a) bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect
relating to or affecting creditors’ rights and remedies generally; (b) the effect of general principles of equity (regardless of whether such enforcement is considered in a proceeding at law or in equity) and (c) as any rights to
indemnity or contribution hereunder may be limited by federal or state securities laws and public policy considerations ((a); (b) and (c) collectively, the “Enforceability Exceptions”). 

(e) The Securities have been duly authorized, executed and delivered by the Company and, when duly authenticated as provided in the
Indenture and paid for as provided in the Purchase Agreement, will be duly and validly issued and outstanding and will constitute legally valid and binding obligations of the Company enforceable against the Company in accordance with their terms,
subject to the Enforceability Exceptions. 
 (f) The Exchange Securities have been duly authorized by the Company and, when duly
executed, authenticated, issued and delivered as contemplated by the Registration Rights Agreement, the Exchange Securities (including the related Guarantee) will be duly and validly issued and outstanding and will constitute valid and legally
binding obligations of the Company, as issuer, and the Guarantor, as guarantor, 

  
 41 

 
enforceable against the Company and the Guarantor in accordance with their terms, subject to the Enforceability Exceptions, and will be entitled to the benefits of the Indenture. 

(g) The Purchase Agreement has been duly authorized, executed and delivered by the Company and duly executed and delivered by the
Guarantor insofar as such execution and delivery is governed by the laws of the State of New York; and the Registration Rights Agreement has been duly authorized, executed and delivered by the Company and duly executed and delivered by the Guarantor
insofar as such execution and delivery is governed by the laws of the State of New York and, when duly executed and delivered by the other parties thereto and assuming due execution and delivery by the Guarantor insofar as such execution and
delivery is governed by the laws of the State of Louisiana, will constitute valid and legally binding agreements of the Company and the Guarantor enforceable against the Company and the Guarantor in accordance with their terms, subject to the
Enforceability Exceptions, and except that rights to indemnity and contribution thereunder may be limited by applicable law and public policy. 
 (h) The execution, delivery and performance by the Company and the Guarantor of each of the Transaction Documents to which each is a party, the issuance and sale of the Securities (including the
Guarantee) and the consummation of the transactions contemplated by the Transaction Documents will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the
acceleration of (or entitle any party to accelerate) the maturity of any obligation of the Company or the Guarantor, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or the
Guarantor pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or the Guarantor is a party or by which the Company or the Guarantor or their respective properties or assets may be
bound and which is (x) the Amended Credit Agreement or (y) listed as an exhibit to the Company’s annual report on Form 10-K for the year ended December 31, 2010 or as an exhibit to any subsequently filed report under the Exchange
Act, (ii) result in any violation of the provisions of the charter or by-laws of the Company or (iii) result in the violation of any federal, New York, Delaware or Texas state statute, rule or regulation or of the Delaware General
Corporations Law (“DGCL”) or any judgment, order, rule or regulation known to such counsel of any court or arbitrator or governmental or regulatory authority under any federal, New York, or Texas state statute having jurisdiction over the
Company or the Guarantor or under the DGCL, except, in the case of clauses (i) and (iii) for such violations that, in the aggregate, would not have a Material Adverse Effect; provided, however, that the opinion expressed in clause
(iii) herein shall not include antifraud provisions of federal or state securities laws or Blue Sky laws or other antifraud statutes, rules or regulations. 
 (i) No consent, approval, authorization, order, registration filing, qualification, license or permit of or with any court or judicial, regulatory or other legal or governmental agency or body is required
for the execution, delivery and performance by the Company and the Guarantor of each of the Transaction Documents to which each is a 

  
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party, the issuance and sale of the Securities (including the Guarantee) and the consummation of the transactions contemplated by the Transaction Documents, except for such consents, approvals,
authorizations, orders and registrations or qualifications as may be required (i) under applicable state securities or blue sky laws in connection with the purchase and resale of the Securities by the Initial Purchasers (as to which such
counsel need express no opinion) and (ii) with respect to the Exchange Securities (including the related Guarantee) under the Securities Act and applicable state securities or blue sky laws as contemplated by the Registration Rights Agreement
(as to which such counsel need express no opinion). 
 (j) Neither the Company nor the Guarantor is, and after giving effect to
the offering and sale of the Securities and the application of the proceeds thereof as described in the Time of Sale Information none of them will be, an “investment company” within the meaning of the Investment Company Act of 1940, as
amended. 
 (k) Assuming the accuracy of the representations, warranties and agreements of the Company, the Guarantor and the
Initial Purchasers contained in this Agreement, it is not necessary, in connection with the issuance and sale of the Securities to the Initial Purchasers and the initial resale and delivery of the Securities by the Initial Purchasers in the manner
contemplated by this Agreement, the Time of Sale Information and the Offering Memorandum, to register the Securities under the Securities Act or to qualify the Indenture under the Trust Indenture Act. 

(l) The statements in the Time of Sale Information under the captions “Description of notes” and “Exchange offer;
registration rights” (when taken together with the terms of the Securities set forth in the Time of Sale Information), insofar as they purport to constitute a summary of the terms of the Securities, are accurate summaries in all material
respects. 
 (m) The statements in the Time of Sale Information under the caption “Certain United States federal income tax
considerations” insofar as such statements constitute matters of law or legal conclusions, are correct in all material respects. 
 In addition, such opinion shall also contain a statement that such counsel has participated in conferences with officers and representatives of the Company, representatives of the independent public
accountants for the Company and the Initial Purchasers at which the contents of the Time of Sale Information and the Offering Memorandum and related matters were discussed and, although it did not independently verify such information, are not
passing upon, and do not assume any responsibility for and express no opinion regarding the accuracy, completeness or fairness of the statements contained or incorporated by reference in, the Time of Sale Information and the Offering Memorandum
(except as expressly provided in paragraphs (l) and (m) above), on the basis of the foregoing participation (relying with respect to factual matters to the extent such counsel deems appropriate upon statements by officers and other
representatives of the Company and the Initial Purchasers) no facts have come to the attention of such counsel that would cause such counsel to believe that (A) the Offering 

  
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Memorandum, as of its date and as of the Closing Date, contained or contains an untrue statement of a material fact or omitted or omits to state any material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading; or (B) the Time of Sale Information, as of the Time of Sale (which such counsel may assume to be [    ] a.m. on the date of this
Agreement), contained or contains an untrue statement of a material fact or omitted or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading (it being
understood that such counsel need express no belief or opinion with respect to the financial statements, including the notes, and schedules thereto and the auditor’s report thereon and any other financial or accounting data, and the oil and
natural gas reserve and future net revenues data included or incorporated by reference in or omitted from, the Time of Sale Information or the Offering Memorandum). 
 Counsel may also state that as to matters with respect to which an opinion is stated to be “to our knowledge,” “known to us” or words of similar effect, such counsel has not undertaken
any independent examination of the facts or records of any court, tribunal or other governmental or regulatory body, but have been based upon reliance upon a certificate of an officer of the Company as to factual matters and upon actual knowledge of
attorneys of such counsel who have devoted time to substantive legal matters for the Company and the Guarantor. 
 In rendering
such opinion, such counsel may rely as to matters of fact on certificates of responsible officers of the Company and the Guarantor and public officials that are furnished to the Initial Purchasers. 

The opinion of Vinson & Elkins L.L.P. described above shall be rendered to the Initial Purchasers at the request of the Company
and shall so state therein. 

  
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 ANNEX G 
 [Form of Opinion of Gordon Arata McCollam Duplantis & Eagan, LLC] 
 1. The Guarantor is a
limited liability company duly formed and validly existing under the limited liability company laws of the State of Louisiana, is in good standing with the Louisiana Secretary of State and has qualified to do business with the Texas Secretary of
State under the name Goodrich Petroleum Company II, L.L.C. The Guarantor has the requisite company power under the laws of Louisiana to carry on any and all lawful business and to own its properties and assets. The Company is the sole member of the
Guarantor. 
 2. Except for any matters that may be described in the Time of Sale Information or the Final Memorandum, we have no knowledge of
any facts that would cause us to believe that the Guarantor is in violation of its Articles of Organization or its Operating Agreement. 
 3.
The Guarantor has the requisite limited liability company power and authority to execute and deliver each of the Indenture, Notation of Guarantee, Purchase Agreement and Registration Rights Agreement (the “Transaction Documents”) and to
perform its obligations thereunder. 
 4. The Indenture has been duly authorized, executed and delivered by the Guarantor insofar as such
execution and delivery are governed by the laws of the State of Louisiana. 
 5. The Notation of Guarantee has been duly authorized, executed
and delivered by the Guarantor insofar as such execution and delivery are governed by the laws of the State of Louisiana. 
 6. The Purchase
Agreement has been duly authorized, executed and delivered by the Guarantor insofar as such execution and delivery are governed by the laws of the State of Louisiana. 
 7. The Registration Rights Agreement has been duly authorized, executed and delivered by the Guarantor insofar as such execution and delivery are governed by the laws of the State of Louisiana.

 8. The execution, delivery and performance by the Guarantor of each of the Transaction Documents and the consummation of the transactions
contemplated by the Transaction Documents will not (i) result in any violation of the organizational documents of the Guarantor or (ii) result in the violation of the laws of the State of Louisiana except, in the case of clause
(ii) for such violations that, in the aggregate, would not reasonably be expected to have a Material Adverse Effect; provided, however, that the opinion expressed in clause (ii) herein shall not include state or federal securities
laws or Blue Sky laws or antifraud statutes, rules or regulations. 

  
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 9. No consent, approval, authorization, order, registration filing, qualification, license or permit of or
with any governmental authority of the State of Louisiana is required by Louisiana law for the execution, delivery and performance by the Guarantor of each of the Transaction Documents and the consummation of the transactions contemplated by the
Transaction Documents, except for such consents, approvals, authorizations, orders and registrations or qualifications (i) as have been or will be obtained or made on or prior to the Closing Date and (ii) as may be required under
applicable state or federal securities or blue sky laws. 
 In rendering such opinion, such counsel may rely as to matters of fact, to the
extent it deems proper, on certificates of an officer of the Company provided that copies of any such statements or certificates shall be delivered to Initial Purchasers’ Counsel. 

  
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 ANNEX H 
 [Form of Opinion of the General Counsel] 
 1. Except for any matters that may be
described in the Time of Sale Information, such counsel has no knowledge of any facts that would cause them to believe that (a) the Company or the Guarantor has violated any environmental law, any provisions of the Employee Retirement Income
Security Act of 1974, as amended, or any provisions of the Foreign Corrupt Practices Act, or the rules and regulations promulgated thereunder, except for such violations which, singly or in the aggregate, would not have a Material Adverse Effect,
(b) the Company or the Guarantor does not have such authorizations of, or has not made all filings with and notices to, all governmental or regulatory authorities and self-regulatory organizations and all courts and other tribunals, including,
without limitation, under any applicable environmental laws, as are necessary to own, lease, license and operate its respective properties and to conduct its business, except where the failure to have any such authorization or to make any such
filing or notice would not, singly or in the aggregate, have a Material Adverse Effect. 
 2. To such counsel’s knowledge,
there are no legal, governmental or regulatory investigations, actions, suits or proceedings pending or overtly threatened in any Federal or state court located in the State of Louisiana or the State of Texas to which the Company or the Guarantor is
or may be a party or to which any property of the Company or the Guarantor is or may be the subject which, if determined adversely to the Company or the Guarantor, would individually or in the aggregate have a Material Adverse Effect except for any
matters that may be described in the Time of Sale Information. 
 3. Such counsel has no knowledge of any facts that would cause
them to believe that the Company or the Guarantor is in violation of the Articles of Organization and Operating Agreement. 

  
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