Document:

EX-4.2

 Exhibit 4.2 

REGISTERED 
 No. 

PHILIP MORRIS INTERNATIONAL INC. 
  

					
		  	1.875% NOTE DUE 2037	  	 PRINCIPAL  AMOUNT

		  		  	€
		  		  	CUSIP NO. 718172 CG2
		  		  	COMMON CODE 171624509
		  		  	ISIN NO. XS1716245094

 THIS NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED
IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY EUROCLEAR BANK S.A./N.V. OR BY CLEARSTREAM BANKING,
SOCIÉTÉ ANONYME (EACH, A “DEPOSITARY”) TO A NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS NOTE IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF HSBC ISSUER SERVICES COMMON DEPOSITARY NOMINEE (UK) LIMITED OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO HSBC BANK USA, NATIONAL ASSOCIATION OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, HSBC ISSUER SERVICES COMMON DEPOSITARY NOMINEE (UK) LIMITED, HAS AN INTEREST HEREIN. 

PHILIP MORRIS INTERNATIONAL INC., a Virginia corporation (hereinafter called the “Company”, which term includes any successor
corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to HSBC Issuer Services Common Depositary Nominee (UK) Limited or registered assigns, the principal sum of
€                 on November 6, 2037, and to pay interest thereon from November 8, 2017 or from the most recent Interest Payment Date to which interest
has been paid or duly provided for, annually in arrears on November 6 of each year, commencing November 6, 2018, at the rate of 1.875% per annum until the principal hereof is paid or made available for payment. 

 The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in the Indenture, be paid to the Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be October 22 (whether or
not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and may be paid to the
Person in whose name this Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee for the Notes, notice whereof shall be given
to Holders of Notes not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the Notes may be listed, and upon such
notice as may be required by such exchange, all as more fully provided in said Indenture. 
 Interest on this Note will be calculated on the
basis of the actual number of days in the period for which interest is being calculated and the actual number of days from and including the last date on which interest was paid on the Note (or November 8, 2017 if no interest has been paid on
this Note), to but excluding the next scheduled Interest Payment Date. 
 Payment of the principal of (and premium, if any) and interest on
this Note will be made at the office or agency of the Company maintained for that purpose in the City of London or the Borough of Manhattan, The City of New York, in such coin or currency of the member states of the European Monetary Union that have
adopted or that adopt the single currency in accordance with the treaty establishing the European Community, as amended by the Treaty on European Union as at the time of payment shall be legal tender for the payment of public and private debts;
provided, however, that at the option of the Company payment of interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear on the Securities Register or by wire transfer at such place
and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least 15 days prior to the date for payment by the person entitled thereto. All payments of principal, premium, if any, and interest
in respect of this Note will be made by the Company in immediately available funds. 
 Additional provisions of this Note are contained on
the reverse hereof, and such provisions shall have the same effect as though fully set forth in this place. 
 Unless the certificate of
authentication hereon has been executed by or on behalf of the Trustee for the Notes by manual signature, this Note shall not be entitled to any benefit under the Indenture, or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, PHILIP MORRIS INTERNATIONAL INC. has caused this instrument to be duly
executed. 
  

			
	Dated: November 8, 2017
	
	PHILIP MORRIS INTERNATIONAL INC.
		
	By:	 	 
	Name:	 	Frank de Rooij
	Title:	 	 Vice President Treasury and Corporate

Finance

	
	Attest:
		
	By:	 	 
	Name:	 	Jerry Whitson
	Title:	 	 Deputy General Counsel and Corporate

Secretary

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein described in the within-mentioned Indenture. 

 

			
	 HSBC BANK USA, NATIONAL ASSOCIATION,

as Trustee

		
	By:	 	 
		 	Authorized Officer

 Global Note due 2037 

 (Reverse of Note) 

PHILIP MORRIS INTERNATIONAL INC. 

This Note is one of a duly authorized issue of debentures, notes or other evidences of indebtedness (hereinafter called the
“Securities”) of the Company of the series hereinafter specified, which series is issued in an initial aggregate principal amount of €500,000,000, all such Securities issued and to be issued under an Indenture dated as of
April 25, 2008 between the Company and HSBC Bank USA, National Association, as Trustee (herein called the “Indenture”), to which Indenture and all other indentures supplemental thereto reference is hereby made for a statement of the
rights and limitations of rights thereunder of the Holders of the Securities and of the rights, obligations, duties and immunities of the Trustee for each series of Securities and of the Company, and the terms upon which the Securities are and are
to be authenticated and delivered. As provided in the Indenture, the Securities may be issued in one or more series, which different series may be issued in various aggregate principal amounts, may mature at different times, may bear interest, if
any, at different rates, may be subject to different redemption provisions, if any, may be subject to different sinking, purchase or analogous funds, if any, may be subject to different covenants and Events of Default and may otherwise vary as in
the Indenture provided or permitted. This Note is one of a series of the Securities designated therein as 1.875% Notes due 2037 (the “Notes”). 

Principal and interest payments in respect of the Notes are payable by the Company in Euro. If, however, the Euro is unavailable to the
Company due to the imposition of exchange controls or other circumstances beyond the Company’s control or if the Euro is no longer being used by the then member states of the European Monetary Union that have adopted the Euro as their currency
or for the settlement of transactions by public institutions of or within the international banking community, then all payments in respect of the Notes will be made in Dollars until the Euro is again available to the Company or so used. The
equivalent Dollar amount of the amount payable on any date in Euro will be calculated by the Currency Determination Agent designated by the Company at the rate mandated by the U.S. Federal Reserve Board as of the close of business on the second
Business Day prior to the relevant payment date or, in the event the U.S. Federal Reserve Board has not mandated a rate of conversion, on the basis of the most recent Euro/Dollar exchange rate available on or prior to the second Business Day prior
to the relevant payment date, as determined by the Company in the Company’s sole discretion. 
 So long as the Notes of this series are
in the form of Global Securities only, all Notes of this series will collectively be evidenced by the Global Security of this series registered in the name of HSBC Issuer Services Common Depositary Nominee (UK) Limited (the “Global Note”).

 Section 1010 of the Indenture shall be applicable to the Notes, except that (i) the term “Holder,” when used in
Section 1010 of the Indenture, shall mean the beneficial owner of a Note or any person holding on behalf or for the account of the beneficial owner of a Note; (ii) the following language shall replace subsection (k) to
Section 1010 of the Indenture “any tax, assessment or other governmental charge imposed pursuant to the provisions of Sections 1471 through 1474 of the Code” and (iii) the following language shall be included as subsection
(l) to 

 
Section 1010 of the Indenture “any combination of items (a), (b), (c), (d), (e), (f), (g), (h), (i), (j) and (k).” 

Prior to August 6, 2037 (the date that is three months prior to the scheduled maturity date for the Notes), the Company may, at its
option, redeem the Notes, in whole at any time or in part from time to time (in €1,000 increments, provided that any remaining principal amount thereof shall be at least the minimum authorized denomination thereof), at a redemption price equal
to the greater of (i) 100% of the principal amount of the Notes to be redeemed and (ii) the sum of the present values of the Remaining Scheduled Payments (as defined below) of the Notes to be redeemed that would be due if such Notes were
due on August 6, 2037 (exclusive of interest accrued to the date of redemption) discounted to the redemption date on an annual basis (Actual/Actual (ICMA)), at a rate equal to the applicable Comparable Government Bond Rate (as defined below)
plus 20 basis points plus, in either case, accrued and unpaid interest, if any, thereon to, but excluding, the redemption date. 
 On or
after August 6, 2037 (the date that is three months prior to the scheduled maturity date for the Notes), the Company may, at its option, redeem the Notes, in whole at any time or in part from time to time (in €1,000 increments, provided
that any remaining principal amount thereof shall be at least the minimum authorized denomination thereof) at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, thereon to,
but excluding, the redemption date. 
 “Comparable Government Bond Rate” means, with respect to any redemption date, the price,
expressed as a percentage (rounded to three decimal places, 0.0005 being rounded upwards), at which the gross redemption yield on the Notes to be redeemed, if they were to be purchased at such price on the third business day prior to the date fixed
for redemption, would be equal to the gross redemption yield on such business day of the Reference Bond on the basis of the middle market price of the Reference Bond prevailing at 11:00 a.m. (London time) on such dealing day as determined by the
Independent Investment Bank. 
 “Independent Investment Bank” means one of the Reference Bond Dealers that the Company appoints as
the Independent Investment Bank from time to time. 
 “Reference Bond” means, in relation to any Comparable Government Bond Rate
calculation, a German government bond whose maturity is closest to the maturity of the Notes, or if the Company or the Independent Investment Bank considers that such similar bond is not in issue, such other German government bond as the Company or
the Independent Investment Bank, with the advice of three brokers of, and/or market makers in, German government bonds selected by the Company or the Independent Investment Bank, determine to be appropriate for determining the Comparable Government
Bond Rate. 
 “Reference Bond Dealer” means (A) each of Banco Santander, S.A., Barclays Bank PLC, Citigroup Global Markets
Limited, Credit Suisse Securities (Europe) Limited and Deutsche Bank AG, London Branch (or their respective affiliates that are Primary Bond Dealers), and their respective successors and (B) any other broker of, and/or market maker in, German
government bonds (a “Primary Bond Dealer”) selected by the Company. 

 “Remaining Scheduled Payments” means, with respect to the Notes to be redeemed, the
remaining scheduled payments of principal of and interest on the relevant Note that would be due after the related redemption date but for the redemption. If that redemption date is not an Interest Payment Date with respect to a Note, the amount of
the next succeeding scheduled interest payment on the relevant Note will be reduced by the amount of interest accrued on the applicable Note to, but excluding, the redemption date. 

If money sufficient to pay the redemption price on the Notes (or portions thereof) to be redeemed on the applicable redemption date is
deposited with the Trustee or Paying Agent on or before the applicable redemption date and certain other conditions are satisfied, then on and after such redemption date, interest will cease to accrue on such Notes (or such portion thereof) called
for redemption. 
 The Company will, or will cause the Trustee or Paying Agent on its behalf to, mail notice of a redemption to Holders of
the Notes to be redeemed by first-class mail (or otherwise transmit in accordance with applicable procedures of the Depositary) at least 15 and not more than 45 days prior to the date fixed for redemption. Unless the Company defaults in payment of
the redemption price, on and after the redemption date, interest will cease to accrue on the Notes or any portions thereof called for redemption. On or before the applicable redemption date, the Company will deposit with the Trustee or Paying Agent
or set aside, segregate and hold in trust (if the Company is acting as Paying Agent), funds sufficient to pay the redemption price of, and accrued and unpaid interest on, such Notes to be redeemed on that redemption date. If fewer than all of the
Notes are to be redeemed, the Trustee or Paying Agent will select, not more than 60 days prior to the redemption date, the particular Notes or any portions thereof for redemption from the outstanding Notes not previously called by such method as the
Trustee or Paying Agent deems fair and appropriate and in accordance with the applicable procedures of the Depositary; provided, however, that no Notes of a principal amount of €100,000 or less shall be redeemed in part. 

The Company may redeem the Notes prior to maturity in whole, but not in part, on not more than 60 days’ notice and not less than 30
days’ notice at a redemption price equal to the principal amount of such Notes plus any accrued interest and additional amounts to the date fixed for redemption if: 
  

	 	•	 	as a result of a change in or amendment to the tax laws, regulations or rulings of the United States or any political subdivision or taxing authority of or in the United States or any change in official position
regarding the application or interpretation of such laws, regulations or rulings (including a holding by a court of competent jurisdiction in the United States) that is announced or becomes effective on or after November 8, 2017, the Company
has or will become obligated to pay additional amounts with respect to the Notes as described in Section 1010 of the Indenture, or 

  

	 	•	 	 on or after November 8, 2017, any action is taken by a taxing authority of, or any decision is rendered by a
court of competent jurisdiction in, the United States or any political subdivision or taxing authority of or in the United States, including any of those actions specified in the bullet point above, whether or not such action

	 	 
is taken or decision is rendered with respect to the Company, or any change, amendment, application or interpretation is officially proposed, which, in any such case, in the written opinion of
independent legal counsel of recognized standing, will result in a material probability that the Company will become obligated to pay additional amounts with respect to the Notes, 

and the Company in its business judgment determines that such obligations cannot be avoided by the use of reasonable measures available to the Company. 

If the Company exercises its option to redeem the Notes for tax reasons, the Company will deliver to the Trustee a certificate signed by an
authorized officer stating that it is entitled to redeem the Notes and the written opinion of independent legal counsel if required. 
 The
Indenture contains provisions for defeasance at any time of the entire principal of all the Securities of any series upon compliance by the Company with certain conditions set forth therein. 

If an Event of Default (other than an Event of Default described in Section 501(4) or 501(5) of the Indenture) with respect to the Notes
shall occur and be continuing, then either the Trustee or the Holders of at least 25% in aggregate principal amount of the Securities of all series then Outstanding (or, if such default is not applicable to all series of the Securities, the Holders
of at least 25% in principal amount of the then Outstanding Securities of all series to which it is applicable) (in each case voting as a single class) may declare the entire principal amount of the Securities of all series so affected due and
payable in the manner and with effect provided in the Indenture. If an Event of Default specified in Section 501(4) or 501(5) occurs with respect to the Company, all of the unpaid principal amount and accrued interest then Outstanding shall
ipso facto become and be immediately due and payable in the manner with the effect provided in the Indenture without any declaration or other act by the Trustee or any Holder. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities under the Indenture at any time by the Company with the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding Securities of all series of
Securities affected thereby (voting as a single class). The Indenture also contains provisions permitting the Holders of specified percentages in aggregate principal amount of the Securities of all series affected thereby at the time Outstanding
(voting as a single class) to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences to the affected series. Any such consent or waiver by the Holder of this Note
shall be conclusive and binding upon such Holder and upon all future Holders of this Note and of any Note issued upon the transfer hereof or in exchange or in lieu hereof whether or not notation of such consent or waiver is made upon this Note. 

No reference herein to the Indenture and no provision of this Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Note at the times, place and rate, and in the coin or currency, herein and in the Indenture prescribed. 

 As provided in the Indenture and subject to certain limitations therein set forth, this Note is
transferable on the Security Register of the Company, upon surrender of this Note for registration of transfer at the office or agency of the Company to be maintained for that purpose in the Borough of Manhattan, The City of New York, or at any
other office or agency of the Company maintained for that purpose, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof or his or her
attorney duly authorized in writing, and thereupon one or more new Notes, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Notes are issuable only in registered form in denominations of €100,000 and any integral multiple of €1,000 in excess thereof.
As provided in the Indenture and subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate principal amount of Notes of a like tenor and of a different authorized denomination, as requested by the Holder
surrendering the same. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company may require
payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 The Company, the Trustee for
the Notes and any agent of the Company or such Trustee may treat the Person in whose name this Note is registered as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes, whether or not this Note be
overdue, and neither the Company, such Trustee nor any such agent shall be affected by notice to the contrary. 
 Certain of the
Company’s obligations under the Indenture with respect to Notes may be terminated if the Company irrevocably deposits with the Trustee money or Government Obligations sufficient to pay and discharge the entire indebtedness on all Notes, as
provided in the Indenture. 
 This Note shall for all purposes be governed by, and construed in accordance with, the laws of the State of
New York. 
 For purposes of the Notes, the term “Business Day” means any day other than (1) a Saturday or Sunday or a
day on which commercial banks in the City of New York or the City of London are authorized or required by law, regulation or executive order to close and (2) a day on which the Trans-European Automated Real-time Gross Settlement Express
Transfer (TARGET or TARGET2) system is not open. 
 Certain terms used in this Note which are defined in the Indenture have the meanings set
forth therein. 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 
  

	
	 PLEASE INSERT SOCIAL SECURITY NUMBER OR
 OTHER
IDENTIFYING NUMBER OF ASSIGNEE

	
	 
	(Name and address of Assignee, including zip code, must be printed or typewritten)
	
	 
	
	 
	the within Note, and all rights thereunder, hereby irrevocably, constituting and appointing
	
	 
	
	 
	Attorney to transfer the said Note on the books of Philip Morris International Inc. with full power of substitution in the premises.

  

			
	Dated:                    	  	
		  	  

		  	NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Note in every particular, without alteration or enlargement or any change whatsoever.Exhibit

Exhibit 10.2
Execution Version

AMENDMENT NO. 1, MASTER ASSIGNEMENT, AND AGREEMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

This Amendment No. 1, Master Assignment, and Agreement to Amended and Restated Credit Agreement (this “Agreement”) dated as of October 26, 2017 (the “Effective Date”), is among Jagged Peak Energy LLC, a Delaware limited liability company (the “Borrower”), the guarantors party hereto (the “Guarantors”), Wells Fargo Bank, National Association, as administrative agent (in such capacity, the “Administrative Agent”) and as issuing lender (in such capacity, the “Issuing Lender”), the Lenders (as defined below), the Assignors (as defined below), and the Assignees (as defined below).
RECITALS
A.    Reference is made to that certain Amended and Restated Credit Agreement (as amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”) dated as of February 1, 2017 among the Borrower, the Administrative Agent, the Issuing Lender and the financial institutions party thereto as lenders from time to time (the “Lenders”).  Each term defined in the Credit Agreement and used herein without definition shall have the meaning assigned to such term in the Credit Agreement, unless expressly provided to the contrary.
B.        The Borrower has requested that the Lenders agree to increase the Borrowing Base under the Credit Agreement, and, to provide for the increase in the Borrowing Base, the Assignors (as defined below) wish to assign certain percentages of their respective rights and obligations under the Credit Agreement as a Lender to the Assignees (as defined below) pursuant to the terms hereof. 
a.The parties hereto wish to, subject to the terms and conditions of this Agreement, (i) increase the Borrowing Base and (ii) amend the Credit Agreement as provided herein.
THEREFORE, the parties hereto hereby agree as follows:
Section 1.Defined Terms; Other Definitional Provisions.  As used in this Agreement, each of the terms defined in the opening paragraph and the Recitals above shall have the meanings assigned to such terms therein.  Article, Section, Schedule, and Exhibit references are to Articles and Sections of and Schedules and Exhibits to this Agreement, unless otherwise specified.  The words “hereof”, “herein”, and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.  The term “including” means “including, without limitation,”.  Paragraph headings have been inserted in this Agreement as a matter of convenience for reference only and it is agreed that such paragraph headings are not a part of this Agreement and shall not be used in the interpretation of any provision of this Agreement. 
Section 2.    Master Assignment.  The Lenders have agreed among themselves to reallocate the Commitments.  Each Lender whose Pro Rata Share is decreasing in connection herewith is an “Assignor” (collectively, the “Assignors”) and each Lender whose Pro Rata Share is increasing in connection herewith is an “Assignee” (collectively, the “Assignees”).  The assignments by each Assignor necessary to effect the reallocation of the Commitments and the assumptions by each Assignee necessary for such Assignee to acquire its respective interest are hereby consummated pursuant to the terms and provisions of this Section 2 of this Agreement and Section 10.7 of the Credit Agreement, and the Borrower, the Administrative Agent, the Issuing Lender, each Assignor, and each Assignee hereby consummates such assignment and assumption pursuant to the terms, provisions, and representations of the Form of Assignment and Assumption attached 

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as Exhibit A to the Credit Agreement as if each of them had executed and delivered an Assignment and Assumption (with the Effective Date, as defined therein, being the Effective Date hereof).  On the Effective Date, and after giving effect to such assignments and assumptions, the Commitments and Pro Rata Shares of the Lenders shall be as set forth on Schedule I of the Credit Agreement, as amended by this Agreement.  Each Lender hereby consents and agrees to the Commitment and Pro Rata Share as set forth opposite such Lender’s name on Schedule I to the Credit Agreement, as amended by this Agreement.  Each of the Administrative Agent, the Issuing Lender, and the Borrower hereby consents to the reallocation of the Commitments as set forth on Schedule I of the Credit Agreement, as amended by this Agreement.  With respect to the foregoing assignments and assumptions, in the event of any conflict between this Section 2 and Section 10.7 of the Credit Agreement, Section 2 of this Agreement shall control.
Section 3.    Amendment to Credit Agreement. 
(a)    The Credit Agreement is hereby amended by deleting Schedule I thereto in its entirety and replacing it with Schedule I attached hereto.
(b)    The Credit Agreement is hereby amended by deleting Schedule II thereto in its entirety and replacing it with Schedule II attached hereto.
Section 4.    Borrowing Base Increase.  Subject to the terms of this Agreement, the parties hereto hereby agree that, as of the Effective Date, the Borrowing Base is hereby increased from $250,000,000 to $425,000,000, and the Borrowing Base shall remain in effect at such amount until the Borrowing Base is redetermined or adjusted in accordance with the Credit Agreement, as amended hereby.  The redetermination of the Borrowing Base pursuant to this Section 4 shall constitute the scheduled Semi-Annual Redetermination to occur on or about October 1, 2017, as set forth in Section 2.2(b)(ii) of the Credit Agreement, as amended hereby.  The parties hereto hereby agree that the next Scheduled Redetermination of the Borrowing Base shall be a Semi-Annual Redetermination to occur on or about April 1, 2018, as provided in Section 2.2(b) of the Credit Agreement.
Section 5.    Representations and Warranties.  Each Credit Party represents and warrants that, as of the date hereof: (a) the representations and warranties of such Credit Party contained in the Credit Agreement and in the other Credit Documents are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of the Effective Date as if made on and as of such date, except that any representation and warranty which by its terms is made as of a specified date is true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) only as of such specified date; (b) no Default has occurred and is continuing; (c) the execution, delivery and performance of this Agreement are within such Credit Party’s powers and have been duly authorized by all necessary corporate, limited liability company, or partnership action; (d) this Agreement constitutes the legal, valid, and binding obligation of such Credit Party enforceable against such Credit Party in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the rights of creditors generally and general principles of equity whether applied by a court of law or equity; (e) the execution, delivery and performance of this Agreement by such Credit Party do not require any authorization or approval or other action by, or any notice or filing with, any Governmental Authority other than those that have been obtained or provided and other than filings delivered hereunder to perfect Liens created under the Security Documents; and (f) the Liens under the Security Documents are valid and subsisting and secure the obligations under the Credit Documents.

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Section 6.    Conditions to Effectiveness.  This Agreement shall become effective on the Effective Date and enforceable against the parties hereto upon the occurrence of the following conditions precedent:
(a)    The Administrative Agent shall have received multiple original counterparts, as requested by the Administrative Agent, of this Agreement, duly and validly executed and delivered by duly authorized officers of the Borrower, the Guarantors, the Administrative Agent, the Issuing Lender, the Lenders, the Assignors, and the Assignees.
(b)    The Administrative Agent shall have received an amended and restated Note payable to each Lender requesting an amended and restated Note in the amount of its Commitment after giving effect to this Agreement, duly and validly executed and delivered by a duly authorized officer of the Borrower.
(c)    The Borrower shall have paid to the Administrative Agent (a) all reasonable out-of-pocket costs and expenses that have been invoiced and are payable pursuant to Section 10.1 of the Credit Agreement and (b) for the account of each Lender that is an Assignee, an upfront fee equal to 0.50% of the difference of (i) each such Lender’s final allocated share of the Borrowing Base after giving effect to the increase in Section 4 above less (ii) each such Lender’s existing allocated share of the Borrowing Base immediately before giving effect to the increase in Section 4 above (the “Upfront Fee”).
(d)    The Administrative Agent shall have received duly executed Mortgages, or supplements to existing Mortgages, in form and substance reasonably satisfactory to the Administrative Agent, encumbering not less than 90% (by PV10) of the Credit Parties’ Proven Reserves and 90% (by PV10) of the Credit Parties’ PDP Reserves, in each case, as described in the most recently delivered Engineering Report.
(e)    The Administrative Agent shall have received satisfactory title information and be satisfied in its sole discretion with the title to the Oil and Gas Properties included in the Borrowing Base, and that such Oil and Gas Properties constitute (i) not less than 80% (by PV10) of the Credit Parties’ Proven Reserves evaluated in the most recently delivered Engineering Report and (ii) that the Credit Parties have good and marketable title to their Oil and Gas Properties, subject to no other Liens (other than Permitted Liens).
(f)    The Administrative Agent shall have received such other documents, governmental certificates, agreements, and lien searches as the Administrative Agent or any Lender may reasonably request. 
Section 7.    Acknowledgments and Agreements.  
(a)    Each Credit Party acknowledges that on the date hereof all outstanding Secured Obligations are payable in accordance with their terms and each Credit Party waives any set-off, counterclaim, recoupment, defense, or other right, in each case, existing on the date hereof, with respect to such Secured Obligations.  Each party hereto does hereby adopt, ratify, and confirm the Credit Agreement, as amended hereby, and acknowledges and agrees that the Credit Agreement, as amended hereby, is and remains in full force and effect, and each Credit Party acknowledges and agrees that its respective liabilities and obligations under the Credit Agreement, as amended herby, and the other Credit Documents are not impaired in any respect by this Agreement.
(b)    The Administrative Agent, the Issuing Lender, and the Lenders hereby expressly reserve all of their rights, remedies, and claims under the Credit Documents.  Nothing in this Agreement shall constitute a waiver or relinquishment of (i) any Default or Event of Default under any of the Credit Documents, (ii) any of the agreements, terms or conditions contained in any of the Credit Documents, (iii) any rights or remedies of the Administrative Agent, the Issuing Lender, or any Lender with respect to the Credit Documents, 

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or (iv) the rights of the Administrative Agent, the Issuing Lender, or any Lender to collect the full amounts owing to them under the Credit Documents.
(c)    This Agreement is a Credit Document for the purposes of the provisions of the other Credit Documents.  Without limiting the foregoing, any breach of representations, warranties, and covenants under this Agreement shall be a Default or Event of Default, as applicable, under the Credit Agreement.
(d)    In consideration of the agreements of the Lenders set forth in this Agreement, the Borrower agrees to pay the Upfront Fee to the Administrative Agent.  The Upfront Fee (i) is payable in U.S. dollars in immediately available funds, free and clear of, and without deduction for, any and all present or future applicable taxes, levies, imposts, deductions, charges or withholdings and all liabilities with respect thereto (with appropriate gross-up for withholding taxes), (ii) is not refundable under any circumstance, (iii) will not be subject to counterclaim, defense, setoff or otherwise affected, (iv) is deemed fully earned by such Lender once its signature page is delivered as provided above and the Effective Date has occurred, and (v) is due and payable on the Effective Date.
Section 8.    Reaffirmation of the Guaranty.  Each Guarantor hereby ratifies, confirms, acknowledges and agrees that its obligations under the Guaranty are in full force and effect and that such Guarantor continues to unconditionally and irrevocably guarantee the full and punctual payment, when due, whether at stated maturity or earlier by acceleration or otherwise, of all the Guaranteed Obligations (as defined in the Guaranty), and its execution and delivery of this Agreement does not indicate or establish an approval or consent requirement by such Guarantor under the Guaranty, in connection with the execution and delivery of amendments, consents or waivers to the Credit Agreement or any of the other Credit Documents.
Section 9.    Reaffirmation of Liens.  Each Credit Party (a) reaffirms the terms of and its obligations (and the security interests granted by it) under each Security Document to which it is a party, and agrees that each such Security Document will continue in full force and effect to secure the Secured Obligations as the same may be amended, supplemented, or otherwise modified from time to time, and (b) acknowledges, represents, warrants and agrees that the Liens and security interests granted by it pursuant to the Security Documents are valid, enforceable and subsisting and create an Acceptable Security Interest to secure the Secured Obligations.
Section 10.    Counterparts.  This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or in electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of this Agreement.
Section 11.    Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted pursuant to the Credit Agreement.
Section 12.    Severability.  In case one or more of the provisions of this Agreement shall for any reason be invalid, illegal or unenforceable in any respect under any applicable law, the validity, legality and enforceability of the remaining provisions contained herein or in the other Credit Documents shall not be affected or impaired thereby.
Section 13.    Governing Law.  This Agreement shall be deemed to be a contract made under and shall be governed by and construed in accordance with the laws of the State of New York without regard to 

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conflicts of laws principles (other than Sections 5-1401 and 5-1402 of the General Obligations Law of the State of New York).
Section 14.    Entire Agreement. THIS AGREEMENT, THE CREDIT AGREEMENT, THE NOTES, AND THE OTHER CREDIT DOCUMENTS CONSTITUTE THE ENTIRE UNDERSTANDING AMONG THE PARTIES HERETO WITH RESPECT TO THE SUBJECT MATTER HEREOF AND SUPERSEDE ANY PRIOR AGREEMENTS, WRITTEN OR ORAL, WITH RESPECT THERETO.
THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.
[The remainder of this page has been left blank intentionally.]

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EXECUTED to be effective as of the date first above written.
BORROWER:
JAGGED PEAK ENERGY LLC

By:                        
Name:    Christopher Humber
		
	Title:
	Executive Vice President, General Counsel and Secretary

GUARANTORS:
JAGGED PEAK ENERGY INC.

By:                        
		
	Name:
	Christopher Humber

		
	Title:
	Executive Vice President, General Counsel and Secretary

JAGGED PEAK ENERGY MANAGEMENT INC.

By:                        
		
	Name:
	Christopher Humber

		
	Title:
	Executive Vice President, General Counsel and Secretary

JAGGED PEAK ENERGY MANAGEMENT LLC

By:                        
		
	Name:
	Christopher Humber

		
	Title:
	Executive Vice President, General Counsel and Secretary

Signature Page to Amendment No. 1

ADMINISTRATIVE AGENT/ISSUING 
LENDER/LENDER:

WELLS FARGO BANK, 
NATIONAL ASSOCIATION,
as Administrative Agent, Issuing Lender, a Lender, and an Assignor

By:                        
Name:  Suzanne Ridenhour
Title:    Director
    

Signature Page to Amendment No. 1

LENDERS:

FIFTH THIRD BANK, as a Lender and an Assignor

By:                        
Name:  
Title: 

Signature Page to Amendment No. 1

ABN AMRO CAPITAL USA LLC, as a Lender and an Assignor

By:                        
Name:  
Title:     
    

Signature Page to Amendment No. 1

KEYBANK NATIONAL ASSOCIATION, as a Lender and an Assignor

By:                        
Name:  
Title:     

Signature Page to Amendment No. 1

FIRST TENNESSEE BANK NATIONAL ASSOCIATION, as a Lender and an Assignor

By:                        
Name:  
Title:     

Signature Page to Amendment No. 1

CITIBANK, N.A., as a Lender and an Assignee

By:                        
Name:  
Title:     

Signature Page to Amendment No. 1

JPMORGAN CHASE BANK, N.A., as a Lender and an Assignee

By:                        
Name:  
Title:     

Signature Page to Amendment No. 1

GOLDMAN SACHS BANK USA, as a Lender and an Assignor

By:                        
Name:  
Title:     

Signature Page to Amendment No. 1

UBS AG, STAMFORD BRANCH, as a Lender and an Assignor

By:                        
Name:  
Title:     

Signature Page to Amendment No. 1

SCHEDULE I
Commitments, Contact Information

	
		
	ADMINISTRATIVE AGENT/ ISSUING LENDER

	Wells Fargo Bank, National Association
	Address:    1700 Lincoln St., 6th Floor
      Denver, CO 80203
Attn:       Oleg Kogan
Telephone:   303-863-4522
Facsimile:   303-863-5196
Email:                Oleg.Kogan@wellsfargo.com 

	CREDIT PARTIES

	Borrower/Guarantors
	Address:   1125 17th Street 
      Suite 2400
      Denver, CO 80202
Attn:       Bob Howard
Telephone:   720-215-3660
Facsimile:   720-215-3690
Email:      bhoward@jaggedpeakenergy.com

	
			
	Lender
	Commitment
	Pro Rata Share

	Wells Fargo Bank, National Association
	$147,058,823.52
	14.705882350%

	Fifth Third Bank
	$123,529,411.77
	12.352941180%

	ABN AMRO Capital USA LLC
	$123,529,411.77
	12.352941180%

	KeyBank National Association
	$123,529,411.77
	12.352941180%

	Citibank, N.A.
	$123,529,411.77
	12.352941180%

	JPMorgan Chase Bank, N.A.
	$123,529,411.77
	12.352941180%

	Goldman Sachs Bank USA
	$82,352,941.17
	8.235294117%

	UBS AG, Stamford Branch
	$82,352,941.17
	8.235294117%

	First Tennessee Bank National Association
	$70,588,235.29
	7.058823529%

	Total:
	$1,000,000,000.00
	100%

Schedule I

SCHEDULE II 
PRICING GRID

Applicable Margins

	
				
	Utilization Level*
	Base Rate Advances
	Eurodollar Advances
	Commitment Fee Rate

	Level I
	1.00%
	2.00%
	0.375%

	Level II
	1.25%
	2.25%
	0.375%

	Level III
	1.50%
	2.50%
	0.500%

	Level IV
	1.75%
	2.75%
	0.500%

	Level V
	2.00%
	3.00%
	0.500%

* Utilization Levels are described below and are determined in accordance with the definition of “Utilization Level”.

1.  Level I: If the Utilization Level is less than 25%.
2.  Level II: If the Utilization Level is greater than or equal to 25% but less than 50%.
3.  Level III: If the Utilization Level is greater than or equal to 50% but less than 75%.
4.  Level IV: If the Utilization Level is greater than or equal to 75% but less than 90%.
5.  Level V: If the Utilization Level is greater than or equal to 90%.

Schedule II

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