Document:

EX-10.1

 Exhibit 10.1 

THIRD AMENDMENT TO 

TERM LOAN CREDIT AGREEMENT 

This THIRD AMENDMENT TO TERM LOAN CREDIT
AGREEMENT (this “Third Amendment”) dated as of December 31, 2017, among LEGACY RESERVES LP, a limited partnership duly formed under the laws of the State of Delaware (the
“Borrower”), each of the undersigned guarantors (the “Guarantors”, and together with the Borrower, the “Obligors”), CORTLAND CAPITAL MARKET
SERVICES LLC, as administrative agent for the Lenders (in such capacity, together with its successors, the “Administrative Agent”), the Lenders under the Credit Agreement (the “Existing Lenders”) and
each other lender joining the Credit Agreement as a “Lender” pursuant to this Third Amendment as of the date hereof (such Persons, the “Incremental Lenders,” and together with the Existing Lenders, the
“Lenders”). 
 Recitals 

A.    The Borrower, the Administrative Agent and the Existing Lenders are parties to that certain Term Loan Credit
Agreement dated as of October 24, 2016, as amended by the First Amendment and Waiver to the Credit Agreement, dated July 31, 2017, and as further amended by the Second Amendment to the Credit Agreement, dated October 30, 2017 (as so
amended prior to the date hereof, the “Existing Credit Agreement,” and the Existing Credit Agreement as amended by this Third Amendment, the “Credit Agreement”), pursuant to which the Existing Lenders have made
loans and provided commitments to the Borrower. 
 B.    Pursuant to Section 12.02 of the Credit Agreement, the
Borrower has requested that (a) the Lenders provide the Borrower with additional Commitments as specified on Annex 1 hereto, (b) the Lenders fund additional Loans as specified on Annex 1 hereto and (c) the Lenders agree
to amend certain provisions of the Credit Agreement as more fully set forth herein. 
 C.    Certain of the Lenders have
agreed to provide the Borrower with additional Commitments and fund additional Loans, in each case as specified on Annex 1 hereto, and the Borrower, the Guarantors, the Administrative Agent and the Lenders have agreed to amend certain
provisions of the Credit Agreement as more fully set forth herein. 
 NOW, THEREFORE, in consideration of the premises and the mutual
covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

Section 1.    Defined Terms. Each capitalized term which is defined in the Credit Agreement, but which is not defined in this
Third Amendment, shall have the meaning ascribed to such term in the Credit Agreement. Unless otherwise indicated, all article, section and exhibit references in this Third Amendment refer to articles, sections and exhibits of the Credit Agreement.

 Section 2.    Amendments to Credit Agreement. 

2.1    Amendment to Recitals. The reference in the second introductory paragraph in the Existing Credit Agreement
to “$300,000,000” is hereby amended to be “$400,000,000”. 

 2.2    Amendments to Section 1.02. 

(a)    The definition of “Commitment Termination Date” in the Existing Credit Agreement is
hereby amended by replacing the words “second anniversary” with “third anniversary”. 

(b)    The following definition is hereby added to Section 1.02 of the Existing Credit Agreement in
alphabetical order: 
 ““Third Amendment” means that certain Third Amendment to the Term Loan Credit Agreement, dated
as of December 31, 2017, by and among the Borrower, the Guarantors, the Administrative Agent and the Lenders.” 

2.3    Amendment to Sections 2.03 and 2.05(b). Sections 2.03 and 2.05(b) of the Existing Credit Agreement are each
hereby amended by adding the following sentence at the end thereof: 
 “Notwithstanding the foregoing, the funding of the Third
Amendment Loans (as defined in the Third Amendment) shall occur on the Third Amendment Funding Date (as defined in the Third Amendment).” 

2.4    Amendment to Section 7.21. Section 7.21 of the Existing Credit Agreement is hereby
amended by adding the following as a new clause (c): 
 “(c)    Notwithstanding the provisions of clause
(a) above, the proceeds of the Loans issued on the Third Amendment Funding Date (as defined in the Third Amendment) shall be used by the Borrower for the repurchase of Senior Notes by the Borrower and to pay transaction fees, costs and expenses
contemplated by the Third Amendment.” 
 2.5    [Reserved]. 

2.6    Amendment to Section 9.01(a). Section 9.01(a) of the Existing Credit Agreement is
hereby amended by replacing the words “equal to or less than 1.00 to 1.00” with “equal to or less than (x) up to and including December 31, 2018, 0.85 to 1.00 and (y) thereafter, 1.00 to 1.00”. 

2.7    Amendment to Section 9.02(a). Section 9.02(a) of the Existing Credit Agreement is
hereby amended and restated as follows: 
 “(a)    the Term Loan Notes or other Indebtedness arising under the
Term Loan Documents (including, for the avoidance of doubt, (x) any Indebtedness arising from the exercise of the PIK Option and (y) any Third Amendment Loans (as defined in the Third Amendment) or Loans resulting from borrowings in
respect of any Third Amendment Commitment (as defined in the Third Amendment)) or any guaranty of or suretyship arrangement for the Term Loan Notes or other Indebtedness arising under the Term Loan Documents;” 

2.8    Amendment to Section 10.02(a). Section 10.02(a) of the Existing Credit Agreement is
hereby amended by adding “(including any Make-Whole Premium and/or Applicable Premium payable pursuant to Section 3.04(d))” after the words “and other obligations of the Borrower and the Guarantors accrued
hereunder and under the Term Loan Notes and the other Term Loan Documents” appearing therein. 

  
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 2.9    Amendment to Annex 1. Annex 1 to the Existing Credit Agreement
is hereby deleted and replaced in its entirety with Annex 1 to this Third Amendment.  
 Section 3.    Additional
Commitments. 
 3.1    Additional Loans and Commitments. (a) Subject to the satisfaction of all of the
conditions set forth in Section 6 hereof, each Lender severally agrees to make a Loan to the Borrower on the Third Amendment Funding Date (as defined below) in an amount equal to the commitment amount set forth next to such
Lender’s name on Annex 1 hereto under the caption “Third Amendment Loans” (the “Third Amendment Loans”) and (b) subject to the satisfaction of the conditions set forth in Section 6.02 of the
Credit Agreement (including, without limitation, the condition specified in Section 6.02(i) of the Credit Agreement) and the other provisions of the Term Loan Documents, each Lender severally agrees, and each Existing Lender reaffirms its
commitment, to make Additional Term Loans to the Borrower pursuant to the Credit Agreement from time to time on any Business Day after the Third Amendment Funding Date and on or prior to the Commitment Termination Date in an amount equal to the
commitment amount set forth next to such Lender’s name on Annex 1 hereto under the caption “Remaining Commitment after giving effect to the making of the Existing Term Loans and Third Amendment Term Loans” (the “Third
Amendment Commitment”). Immediately upon the borrowing of the Third Amendment Loans on the Third Amendment Funding Date, (i) the Third Amendment Loans shall be added to, and made a part of, the Loans under the Credit Agreement (as
amended hereby), (ii) the Third Amendment Loans shall constitute “Loans” under and as defined in the Credit Agreement (as amended hereby) and (iii) the Third Amendment Commitment of each Lender shall constitute such Lender’s
“Commitments” under and as defined in the Credit Agreement (as amended hereby). 
 3.2    Subject to the
satisfaction of all the conditions set forth in Section 6 hereof and the provisions of Section 6.02(i) of the Credit Agreement, (a) each Lender party hereto consents to (i) the incurrence by Borrower of the
Third Amendment Loans, and (ii) the increase in the aggregate Commitments to the amount equal to the aggregate Third Amendment Commitments of the Lenders and (b) each of the Borrower, the Lenders and the Administrative Agent consent to the
allocation of remaining Commitments among the Lenders as specified in Annex 1 hereto. 
 Section 4.    Additional
Mortgages. 
 4.1    With respect to each existing Mortgage entered into pursuant to the Credit Agreement, within 45
days after the Third Amendment Funding Date (or such later date as may be acceptable to the Majority Lenders in their sole discretion), the Borrower shall deliver (or cause to be delivered) to the Administrative Agent an amendment to each such
Mortgage (each, a “Mortgage Amendment”) which shall increase the secured amount therein to take into account this Third Amendment (and the increase of Commitments and incurrence of Loans contemplated hereby), the additional
extensions of credit contemplated hereby and shall otherwise be in form and substance reasonably acceptable to the Majority Lenders. 

  
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 4.2    Notwithstanding anything in Section 8.14(a) to the contrary, the
Borrower or its Subsidiaries shall, within 45 days after the Third Amendment Funding Date (or such later date as the Majority Lenders may agree) deliver additional Mortgages on the properties specified in Annex 2 hereto. 

Section 5.    Conditions Precedent. This Third Amendment shall not become effective until the date on which each of the
following conditions is satisfied (or waived in writing in accordance with Section 12.02 of the Credit Agreement) (and in no event prior to January 5, 2018) (the “Third Amendment Funding Date”): 

5.1    The Administrative Agent shall have received from each Existing Lender party to the Credit Agreement, each
Incremental Lender, the Borrower and the Guarantors, counterparts (in such number as may be requested by the Administrative Agent) of this Third Amendment signed on behalf of such Person. 

5.2    The Administrative Agent and the Lenders shall have received all fees and other amounts due and payable on or prior
to the Third Amendment Funding Date (including (a) fees and expenses invoiced by Latham & Watkins LLP and Arnold & Porter Kaye Scholer LLP prior to the Third Amendment Funding Date, (b) fees payable pursuant to the fee
letter referenced in Section 5.6 below and (c) upfront fees payable pursuant to Section 3.05(b) of the Credit Agreement in respect of the Third Amendment Loans funded on the Third Amendment Funding Date). 

5.3    The Administrative Agent and the Lenders shall have received a certificate signed by the chief financial officer or
another Financial Officer of the Borrower confirming that, with respect to any the Borrower and its Subsidiaries (on a consolidated basis), that after giving effect to the transactions contemplated by this Amendment to occur on the Third Amendment
Funding Date, (a) the aggregate assets (after giving effect to amounts that could reasonably be received by reason of indemnity, offset, insurance or any similar arrangement), at a fair valuation, of the Borrower and the Guarantors, taken as a
whole, will exceed the aggregate Debt of the Borrower and the Guarantors on a consolidated basis, as the Debt becomes absolute and matures, (b) each of the Borrower and the Guarantors will not have incurred or intended to incur, and will not
believe that it will incur, Debt beyond its ability to pay such Debt (after taking into account the timing and amounts of cash to be received by each of the Borrower and the Guarantors and the amounts to be payable on or in respect of its
liabilities, and giving effect to amounts that could reasonably be received by reason of indemnity, offset, insurance or any similar arrangement) as such Debt becomes absolute and matures and (c) each of the Borrower and the Guarantors will not
have (and will have no reason to believe that it will have thereafter) unreasonably small capital for the conduct of its business. 

  
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 5.4    The Administrative Agent and the Lenders shall have received, in
respect of each Obligor, a certificate dated as of the Third Amendment Funding Date of the secretary or an assistant secretary or director (or such other officer reasonably acceptable to the Majority Lenders) of such Obligor, in form and substance
reasonably satisfactory to the Majority Lenders: 
 (a)    attaching resolutions of the board of directors or other
managing body with respect to the authorization of the Borrower or such Guarantor to execute and deliver this Third Amendment and to enter into the transactions contemplated hereby; 

(b)    either (i) setting forth the individuals (A) who are authorized to sign the Third Amendment,
(B) who will, until replaced by another individual duly authorized for that purpose, act as its representative for the purposes of signing documents and giving notices and other communications in connection with this Agreement and the other
Term Loan Documents to which it is a party and (C) setting forth the specimen signatures of such authorized individuals or (ii) certifying that the foregoing information specified in the secretary’s certificate delivered on the
Closing Date to the Administrative Agent remains true and correct as of the Third Amendment Funding Date; 

(d)    either (i) attaching the articles or certificate of incorporation or formation and bylaws, operating
agreement or partnership agreement, as applicable, of the Borrower and each Guarantor, in each case, certified as being true and complete or (ii) certifying the organizational documents of the Borrower and each Guarantor, delivered on the
Closing Date to the Administrative Agent have not been amended and are in full force and effect; and 

(d)    attaching a good standing certificate from the applicable Governmental Authority of the applicable Obligor’s
jurisdiction of incorporation dated the Third Amendment Funding Date or a recent date prior thereto. 
 5.5    The
Administrative Agent and the Lenders shall have received a certificate (a) certifying that the conditions specified in Sections 5.7, 5.8 and 5.10 of this Third Amendment are satisfied and (b) stating the principal amount of Indebtedness of
the Borrower under the RBL Credit Agreement after giving effect to the transactions contemplated to occur on the Third Amendment Funding Date, in each case, duly and properly executed by a Responsible Officer and dated as of the Third Amendment
Funding Date. 
 5.6    The Lenders shall have received a fully executed copy of that certain fee letter dated as of the
date hereof, by and among the Borrower and the Lenders. 
 5.7    (a) No Default or Event of Default and (b) no
Default (as defined in the RBL Credit Agreement) or Event of Default (as defined in the RBL Credit Agreement) shall, in either case, have occurred and be continuing, or shall occur, as of the Third Amendment Funding Date. 

5.8    The representations and warranties of the Borrower and the Guarantors, if any, set forth in this Third Amendment
and in the other Term Loan Documents shall be true and correct as of the Third Amendment Funding Date except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, on and as of the date of such
Borrowing such representations and warranties shall continue to be true and correct as of such specified earlier date. 

5.9    The Administrative Agent and the Lenders shall have received a legal opinion from Kirkland & Ellis LLP
relating to the transactions contemplated by the Third Amendment, in form and substance satisfactory to the Majority Lenders. 

  
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 5.10    (a) The “Settlement Date” as defined in the Note Purchase
Agreement, dated as of the date hereof, among the Borrower, as buyer, and Fir Tree Value Master Fund, L.P., a Cayman Islands exempted limited partnership, Fir Tree Capital Opportunity Master Fund, L.P., a Cayman Islands exempted limited partnership,
Fir Tree Capital Opportunity Master Fund III, L.P., a Cayman Islands exempted limited partnership, FT SOF IV Holdings, LLC, a Delaware limited liability company, FT SOF V Holdings, LLC, a Delaware limited liability company, and FT SOF VII Holdings,
LLC, a Delaware limited liability company, as sellers, shall have occurred or shall occur concurrently with the Third Amendment Funding Date and (b) Borrower shall have used, or shall use concurrently with the transactions contemplated by the
Third Amendment, the proceeds of the Third Amendment Loans to purchase $187,077,000 face value of its 6.625% Senior Notes due 2021, for a purchase price equal to $130,953,900 plus accrued but unpaid interest as of the Settlement Date, which Senior
Notes shall be deposited into a securities account of the Borrower in accordance with the terms of the Term Loan Documents. 

5.11    The “Settlement Date” as defined in that Note Purchase Agreement, dated as of the date hereof, among
various funds and entities managed, advised and/or sub-advised by GSO, as buyers, and Fir Tree Value Master Fund, L.P., a Cayman Islands exempted limited partnership, Fir Tree Capital Opportunity Master Fund,
L.P., a Cayman Islands exempted limited partnership, Fir Tree Capital Opportunity Master Fund III, L.P., a Cayman Islands exempted limited partnership, FT SOF IV Holdings, LLC, a Delaware limited liability company, FT SOF V Holdings, LLC, a Delaware
limited liability company, and FT SOF VII Holdings, LLC, a Delaware limited liability company, as sellers, shall have occurred or shall occur concurrently with the Third Amendment Funding Date. 

5.12    The Lenders, the Borrower and Legacy Reserves GP, LLC shall have entered into a voting agreement in respect of the
Senior Notes of the Borrower, in form and substance reasonably satisfactory to the Majority Lenders. 
 5.13    The
Administrative Agent and the Lenders shall have received a Borrowing Request from the Borrower. 
 5.14    The
Administrative Agent shall have received an Administrative Questionnaire and any tax forms to the extent required by Section 5.03 of the Credit Agreement from each Incremental Lender. 

Section 6.    Miscellaneous. 

6.1    Confirmation. The provisions of the Credit Agreement, as amended by this Third Amendment, shall remain
in full force and effect following the effectiveness of this Third Amendment. 
 6.2    Ratification and Affirmation;
Representations and Warranties. Each Obligor hereby (a) acknowledges the terms of this Third Amendment; (b) ratifies and affirms its obligations under, and acknowledges its continued liability under, each Term Loan Document to
which it is a party and agrees that each Term Loan Document to which it is a party remains in full force and effect as expressly amended hereby; (c) represents and warrants to the Lenders that as of the date hereof, after giving effect to the
terms of this Third Amendment: (i) all of the 

  
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representations and warranties contained in each Term Loan Document to which it is a party are true and correct, except to the extent any such representations and warranties are expressly limited
to an earlier date, in which case, such representations and warranties shall continue to be true and correct as of such specified earlier date, (ii) no Default or Event of Default has occurred and is continuing, (iii) no event or events
have occurred which individually or in the aggregate could reasonably be expected to have a Material Adverse Effect and (iv) as of the date hereof, the principal amount of Indebtedness of the Borrower under the RBL Credit Agreement is
$499,000,000; (d) agrees that from and after the Third Amendment Funding Date each reference to the Credit Agreement in the other Term Loan Documents shall be deemed to be a reference to the Credit Agreement, as amended by this Third Amendment and
(e) each of the representations and warranties set forth in Article VII of the Credit Agreement are true and correct in all material respects (except where already qualified by materiality or material adverse effect in which case in all
respects) except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct in all material respects as of such earlier date). 

6.3    Counterparts. This Third Amendment may be executed by one or more of the parties hereto in any number
of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of this Third Amendment by telecopy, facsimile, email or other electronic means shall be effective as delivery
of a manually executed counterpart hereof. 
 6.4    No Oral Agreement. This Third Amendment, the Credit
Agreement and the other Term Loan Documents executed in connection herewith and therewith represent the final agreement between the parties and may not be contradicted by evidence of prior, contemporaneous, or unwritten oral agreements of the
parties. There are no subsequent oral agreements between the parties. 
 6.5    GOVERNING LAW. The
provisions of Section 12.09 of the Credit Agreement are incorporated herein mutatis mutandis. 

6.6    Payment of Expenses. In accordance with Section 12.03 of the Credit Agreement, the Borrower agrees
to pay or reimburse the Administrative Agent and the Lenders for all of their reasonable out-of-pocket costs and reasonable expenses incurred in connection with this
Third Amendment, any other documents prepared in connection herewith and the transactions contemplated hereby, including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent and the Lenders. 

6.7    Severability. Any provision of this Third Amendment which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction. 
 6.8    Successors and
Assigns. This Third Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 

  
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 6.9    Term Loan Document. This Third Amendment is a “Term Loan
Document” as defined and described in the Credit Agreement, and all of the terms and provisions of the Credit Agreement relating to Term Loan Documents shall apply hereto. 

6.10    RELEASE. FOR GOOD AND VALUABLE CONSIDERATION, THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY
ACKNOWLEDGED, THE BORROWER AND EACH OTHER OBLIGOR HEREBY, FOR ITSELF AND ITS SUCCESSORS AND ASSIGNS, FULLY AND WITHOUT RESERVE, RELEASES AND FOREVER DISCHARGES EACH LENDER, EACH AGENT AND EACH OF THEIR RESPECTIVE SUCCESSORS AND ASSIGNS, OFFICERS,
DIRECTORS, EMPLOYEES, REPRESENTATIVES, TRUSTEES, ATTORNEYS, AGENTS, ADVISORS (INCLUDING ATTORNEYS, ACCOUNTANTS AND EXPERTS) AND AFFILIATES (COLLECTIVELY THE “RELEASED PARTIES” AND INDIVIDUALLY A
“RELEASED PARTY”) FROM ANY AND ALL ACTIONS, CLAIMS, DEMANDS, CAUSES OF ACTION, JUDGMENTS, EXECUTIONS, SUITS, DEBTS, LIABILITIES, COSTS, DAMAGES, EXPENSES OR OTHER OBLIGATIONS OF ANY KIND AND NATURE WHATSOEVER, KNOWN OR
UNKNOWN, DIRECT AND/OR INDIRECT, AT LAW OR IN EQUITY, WHETHER NOW EXISTING OR HEREAFTER ASSERTED (INCLUDING, WITHOUT LIMITATION, ANY OFFSETS, REDUCTIONS, REBATEMENT, CLAIMS OF USURY OR CLAIMS WITH RESPECT TO THE NEGLIGENCE OF ANY RELEASED
PARTY), FOR OR BECAUSE OF ANY MATTERS OR THINGS OCCURRING, EXISTING OR ACTIONS DONE, OMITTED TO BE DONE, OR SUFFERED TO BE DONE BY ANY OF THE RELEASED PARTIES, IN EACH CASE, ON OR PRIOR TO THE DATE OF THE THIRD AMENDMENT AND ARE IN ANY
WAY DIRECTLY OR INDIRECTLY ARISING OUT OF OR IN ANY WAY CONNECTED TO ANY OF THIS THIRD AMENDMENT, THE CREDIT AGREEMENT, ANY OTHER TERM LOAN DOCUMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (COLLECTIVELY, THE
“RELEASED MATTERS”). THE BORROWER AND EACH OTHER OBLIGOR, BY EXECUTION HEREOF, HEREBY ACKNOWLEDGES AND AGREES THAT THE AGREEMENTS IN THIS SECTION 5.10 ARE INTENDED TO COVER AND BE IN FULL SATISFACTION FOR ALL OR ANY
ALLEGED INJURIES OR DAMAGES ARISING IN CONNECTION WITH THE RELEASED MATTERS. 
 6.11    Administrative Agent
Direction. Each undersigned Lender (collectively constituting all Lenders party to the Credit Agreement) hereby directs the Administrative Agent to execute and deliver this Third Amendment. 

6.12    Incremental Lenders. 

(a)    The Borrower, the Guarantors, the Existing Lenders, the Administrative Agent, GSO Aiguille Des
Grand Montets Fund II LP and GSO CSF III HoldCo LP hereby acknowledge, agree and confirm that each of GSO Aiguille Des Grand Montets Fund II LP and GSO CSF III HoldCo LP shall from and after the date hereof be a party to the Credit Agreement and a
“Lender” for all purposes of the Credit Agreement and the other Term Loan Documents, and shall have all of the rights and obligations of a Lender under the Credit Agreement and the other Term Loan Documents as if GSO Aiguille Des Grand
Montets Fund II LP and GSO CSF III HoldCo LP had executed the Credit Agreement. 

  
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 (b)    Each of GSO Aiguille Des Grand Montets Fund II LP and
GSO CSF III HoldCo LP agrees that it will, independently and without reliance on the Administrative Agent or any Lender, perform in accordance with their terms all of the obligations which by the terms of the Term Loan Documents are required to be
performed by it as a Lender. 
 [SIGNATURES BEGIN NEXT PAGE] 

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

							
	BORROWER:	 		 	LEGACY RESERVES LP
				
		 		 	By:	 	Legacy Reserves GP, LLC,
		 		 		 	its general partner
				
		 		 	By:	 	/s/ James Daniel Westcott
		 		 		 	James Daniel Westcott
		 		 		 	Executive Vice President and Chief Financial Officer
			
	GUARANTORS:	 		 	LEGACY RESERVES OPERATING LP
				
		 		 	By:	 	Legacy Reserves Operating GP LLC, its general partner
		 		 	By:	 	Legacy Reserves LP, its sole member
		 		 	By:	 	Legacy Reserves GP, LLC, its general partner
				
		 		 	By:	 	/s/ James Daniel Westcott
		 		 		 	James Daniel Westcott
		 		 		 	Executive Vice President and Chief Financial Officer
			
		 		 	LEGACY RESERVES OPERATING GP LLC
				
		 		 	By:	 	Legacy Reserves LP, its sole member
		 		 	By:	 	Legacy Reserves GP, LLC, its general partner
				
		 		 	By:	 	/s/ James Daniel Westcott
		 		 		 	James Daniel Westcott
		 		 		 	Executive Vice President and Chief Financial Officer

  

SIGNATURE PAGE 

THIRD AMENDMENT TO TERM LOAN CREDIT
AGREEMENT 

			
	LEGACY RESERVES SERVICES, INC.
		
	By:	 	/s/ James Daniel Westcott
		 	James Daniel Westcott
		 	Executive Vice President and Chief Financial Officer

 
			
	
	DEW GATHERING LLC
		
	By:	 	/s/ James Daniel Westcott
	Name:	 	James Daniel Westcott
	Title:	 	Executive Vice President and Chief Financial Officer
	
	PINNACLE GAS TREATING LLC
		
	By:	 	/s/ James Daniel Westcott
	Name:	 	James Daniel Westcott
	Title:	 	Executive Vice President and Chief Financial Officer
	
	LEGACY RESERVES ENERGY SERVICES LLC
		
	By:	 	/s/ James Daniel Westcott
	Name:	 	James Daniel Westcott
	Title:	 	Executive Vice President and Chief Financial Officer

  

SIGNATURE PAGE 

THIRD AMENDMENT TO TERM LOAN CREDIT
AGREEMENT 

 
			
	     CORTLAND CAPITAL MARKET SERVICES LLC,

    as Administrative Agent

 
					
			
		 	By:	 	      /s/ Polina Arsentyeva
		 	Name: Polina Arsentyeva
		 	Title: Associate Counsel

  

SIGNATURE PAGE 

THIRD AMENDMENT TO TERM LOAN CREDIT
AGREEMENT 

 
			
	 GSO ENERGY SELECT OPPORTUNITIES FUND LP

By: GSO Energy Select Opportunities Associates LLC, its general partner

					
			
		 	By:	 	      /s/ Sean Cort
		 	Name: Sean Cort
		 	Title: Authorized Signatory

 
			
	
	 GSO ENERGY PARTNERS-A LP

By: GSO Energy Partners-A Associates LLC, its general
partner

 
					
			
		 	By:	 	      /s/ Sean Cort
		 	Name: Sean Cort
		 	Title: Authorized Signatory

 
			
	
	 GSO ENERGY PARTNERS-B LP

By: GSO Energy Partners-B Associates LLC, its general
partner

 
					
			
		 	By:	 	      /s/ Sean Cort
		 	Name: Sean Cort
		 	Title: Authorized Signatory

 
			
	
	 GSO ENERGY PARTNERS-C LP

By: GSO Energy Partners-C Associates LLC, its general
partner

 
					
			
		 	By:	 	      /s/ Sean Cort
		 	Name: Sean Cort
		 	Title: Authorized Signatory

 
			
	
	 GSO ENERGY PARTNERS-C II LP

By: GSO Energy Partners-C Associates II LLC, its general
partner

 
					
			
		 	By:	 	      /s/ Sean Cort
		 	Name: Sean Cort
		 	Title: Authorized Signatory

  

SIGNATURE PAGE 

THIRD AMENDMENT TO TERM LOAN CREDIT
AGREEMENT 

			
	 GSO ENERGY PARTNERS-D LP

By: GSO Energy Partners-D Associates LLC, its general
partner

 
					
			
		 	By:	 	      /s/ Sean Cort
		 	Name: Sean Cort
		 	Title: Authorized Signatory

 
			
	
	 GSO PALMETTO OPPORTUNISTIC INVESTMENT PARTNERS LP

By: GSO Palmetto Opportunistic Associates LLC, its general partner

					
			
		 	By:	 	      /s/ Sean Cort
		 	Name: Sean Cort
		 	Title: Authorized Signatory

 
			
	
	 GSO CSF III HOLDCO LP
 By:
GSO Capital Solutions Associates III LP, its general partner
 By: GSO Capital Solutions Associates III (Delaware) LLC, its general
partner

 
					
			
		 	By:	 	      /s/ Sean Cort
		 	Name: Sean Cort
		 	Title: Authorized Signatory

  

SIGNATURE PAGE 

THIRD AMENDMENT TO TERM LOAN CREDIT
AGREEMENT 

			
	 GSO AIGUILLE DES GRAND MONTETS FUND II LP

By: GSO Aiguille des Grand Montets Associates LLC, its general partner

 
					
			
		 	By:	 	/s/ Marisa Beeney 
		 	Name: Marisa Beeney
		 	Title: Authorized Signatory

  

SIGNATURE PAGE 

THIRD AMENDMENT TO TERM LOAN CREDIT
AGREEMENTEX-10.2

 Exhibit 10.2 

Execution Version 

NOTE PURCHASE AGREEMENT 

THIS NOTE PURCHASE AGREEMENT (this “Agreement”) is entered into this 31st
day of December, 2017, by and among Legacy Reserves LP, a Delaware limited partnership (the “Company”), and Fir Tree Value Master Fund, L.P., a Cayman Islands exempted limited partnership, Fir Tree Capital Opportunity Master
Fund, L.P., a Cayman Islands exempted limited partnership, Fir Tree Capital Opportunity Master Fund III, L.P., a Cayman Islands exempted limited partnership, FT SOF IV Holdings, LLC, a Delaware limited liability company, FT SOF V Holdings, LLC, a
Delaware limited liability company, and FT SOF VII Holdings, LLC, a Delaware limited liability company (collectively, the “Sellers” and individually, a “Seller”). 

WHEREAS, the Sellers collectively own beneficially, through Depository Trust Company (“DTC”), $187,077,000 principal amount
of the Company’s 6.625% Senior Notes due 2021 (the “Notes”) (with the principal amount of the Notes held by each Seller specified on Exhibit A), issued under the indenture, dated as of May 28, 2013, among the
Company, Legacy Reserves Finance Corporation, the guarantors named therein and Wilmington Trust, National Association, as trustee, as supplemented by the First Supplemental Indenture, dated as of August 25, 2015 (the
“Indenture”); and 
 WHEREAS, the Company desires to buy from the Sellers, and the Sellers desire to sell to the Company,
all of the Notes owned by each of the Sellers, on the terms and subject to the conditions set forth herein, and in the amounts specified in Exhibit A hereto. 

NOW, THEREFORE, the Company and each Seller, in consideration of the terms and conditions set forth herein and other good and valuable
consideration the sufficiency of which is hereby acknowledged, agree as follows: 
  

	 	1.	CERTAIN DEFINITIONS AND PRINCIPLES OF CONSTRUCTION AND INTERPRETATION. Each term defined in the Indenture and used herein without definition has the meaning assigned to such term in the Indenture. The principles of
construction and interpretation set forth in Section 1.04 of the Indenture shall apply to, and are hereby incorporated by reference in, this Agreement. 

  

	 	2.	PURCHASE OF NOTES. 

  

	 	a.	The Company hereby purchases from the Sellers, and the Sellers hereby convey, sell, assign and transfer to the Company, free and clear of all liens, encumbrances and rights of others (except for those imposed by the
Indenture or those resulting from any actions taken or failed to be taken by the Company), the Notes specified on Exhibit A for the purchase price set forth on Exhibit A with respect to each Seller. The Notes will be delivered against the
payment of the Purchase Price (as defined below) at the settlement of the purchase and sale of Notes provided for in Section 4 (the “Settlement”). Following the execution and delivery of this Agreement
until the time of Settlement and subject to the terms of this Agreement, each Seller shall hold its interest in the Notes sold by such Seller hereunder as agent for the Company. 

 

	 	b.	For U.S. federal income tax purposes, the parties hereto intend that the date of this Agreement shall be treated as the “trade date” as that term is used in Revenue Rulings
93-84, 1993-2 C.B. 225 and 66-97, 1966-1 C.B. 190. Accordingly the parties (and their
owners, as determined for federal income tax purposes, in the case of any parties hereto that are disregarded entities for U.S. federal income tax purposes) hereto intend that the date hereof shall be the effective date of the sale of the Notes for
U.S. federal income tax purposes and shall agree to report the transaction in a manner consistent with such treatment for U.S. federal income tax purposes, unless otherwise required by applicable law. 

	 	3.	PURCHASE PRICE. 

  

	 	a.	The purchase price to be paid by the Company to each Seller (the “Purchase Price”) shall be equal to the purchase price set forth opposite such Seller’s name on Exhibit A
(which Purchase Price shall be delivered against, without limitation, all principal, accrued interest and other amounts owing in respect of the Notes), as set forth on Exhibit A. 

 

	 	b.	Notwithstanding anything in this Agreement to the contrary, in the event that, at any time and from time to time, during the 30-day period immediately following the date hereof,
the Company or any Affiliate thereof enters into a definitive agreement that would result in the redemption of all or any portion of the Company’s 6.625% Senior Notes due 2021 issued under the Indenture (the “6.625% Senior
Notes”), or otherwise redeems all or any portion of the 6.625% Senior Notes, at a redemption price (the “Redemption Price”) equal to 90% or greater of the principal amount of the 6.625% Senior Notes, plus accrued but unpaid
interest thereon, then the Company shall pay to each Seller, the amount by which the Redemption Price in respect of such Notes exceeds the Purchase Price paid to such Seller by the Company in respect of such Notes hereunder (with respect to each
Seller, a “Make Whole Payment”). If all or any portion of the Redemption Price is in a form other than cash, the Company and Sellers shall mutually agree upon the value thereof.    Each Make Whole Payment shall
be made promptly following (and in no event more than ten business days after) the consummation of the applicable redemption, and shall for all purposes be treated by the Company and the applicable Sellers as an adjustment to the Purchase Price.
Each Make Whole Payment shall be made in cash by wire transfer of immediately available cash funds to the Wire Transfer Instructions (or such other accounts designated by the applicable Sellers in writing). 

 

	 	4.	SETTLEMENT. 

  

	 	a.	Subject to each of the terms of this Agreement, the date of the Settlement shall be January 5, 2018 (the “Settlement Date”). 

 

	 	b.	At the Settlement, the Company shall make a wire transfer of immediately available funds to the Sellers in the amounts specified in Exhibit A hereto and in accordance with the wire transfer instructions delivered
by the Sellers to the Company on the date hereof (the “Wire Transfer Instructions”). 

  

	 	c.	At the Settlement, each Seller shall effect by book entry, in accordance with the applicable procedures of DTC and the terms of the Indenture, the delivery to the Company in the amounts specified in Exhibit A
hereto. 

  

	 	d.	 The obligation of the Company to effectuate the Settlement and the occurrence of the Settlement Date shall be
subject to (i) the accuracy of the representations and warranties of each of the Sellers made herein; (ii) the occurrence of the “Settlement Date,” as defined in that certain Note Purchase Agreement, dated as of the date hereof,
among the Sellers and GSO Energy Select Opportunities Fund 

  
 -2- 

	 	
LP, GSO Energy Partners-A LP, GSO Energy Partners-B LP, GSO Energy
Partners-C LP, GSO Energy Partners-C II LP, GSO Energy Partners-D LP, GSO Palmetto Opportunistic Investment Partners LP and GSO
CSF III HoldCo LP (without giving effect to any amendment, modification, supplement or waiver thereto without the consent of the Company hereunder) (the “Other Note Purchase Agreement”); and (iii) the effectiveness of the Third
Amendment, dated as of December 31, 2017, to the Credit Agreement dated as of October 25, 2016, by and among the Company, the financial institutions from time to time party thereto as lenders, and Cortland Capital Market Services LLC, as
the Administrative Agent.  

  

	 	e.	The obligation of each Seller to effectuate the Settlement and the occurrence of the Settlement Date shall be subject to (i) the accuracy of the representations and warranties of the Company made herein,
(ii) the occurrence of the “Settlement Date,” as defined in the Other Note Purchase Agreement and (iii) delivery on the date hereof of a legal opinion of Company counsel in form and substance attached hereto as Exhibit B.

  

	 	5.	REPRESENTATIONS OF SELLERS. Each Seller, severally and not jointly, makes the following representations to the Company as of the date hereof and as of the Settlement Date: 

 

	 	a.	Each Seller has the requisite corporate, limited liability company and/or limited partnership power and authority enter into this Agreement and to perform its obligations hereunder. 

 

	 	b.	The Notes set forth by such Seller’s name in Exhibit A are owned beneficially by such Seller and constitute all of the Notes owned by such Seller and, in the aggregate, the total amount of Notes listed on
Exhibit A constitute all of the Notes beneficially owned by the Sellers and their Affiliates. Such Seller has full right and title to such Notes, free and clear of any lien or encumbrance whatsoever (except for those imposed by the
Indenture), and full and unrestricted right and power to sell such Notes pursuant to the provisions of this Agreement without obtaining the consent or approval of any other person that has not been obtained. 

 

	 	c.	The sale of the Notes by each Seller hereunder does not violate or represent a breach of, or constitute a default under, any instruments governing such Seller, any law, regulation or order, or any agreement to which
such Seller is a party or by which such Seller is bound. The Seller is not party to any other agreement, commitment, contract or other instrument which would adversely affect its ability to perform its obligations hereunder and/or the purchase and
sale transactions contemplated by this Agreement. 

  

	 	d.	This Agreement has been duly executed and delivered by each Seller and constitutes a legal, valid and binding obligation of such Seller enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

  
 -3- 

	 	e.	Each Seller acknowledges and agrees that none of the Company nor any of its Affiliates has given any investment advice or rendered any opinion to any Seller as to whether the sale of the Notes is prudent, and no Seller
hereto is relying on any representation or warranty by any other party hereto, except as expressly set forth in this Agreement. 

  

	 	f.	Each Seller has made an independent decision to sell and transfer the Notes to the Company based on the information available to such Seller, which such Seller has determined is adequate for that purpose.

  

	 	g.	Each Seller acknowledges that the Company and its Affiliates may be in possession of material, non-public, confidential information concerning the Notes or the Company or its
Affiliates (the “Material Information”) that is not known or otherwise available to the Sellers and that may be material in the decision to sell the Notes, including but not limited to the information of the type described below:

  

	 	i.	Financial and Operational Details: Information including, but not limited to, internal and external budgets, projections, corporate office expenditures, employee compensation and senior management incentive plans
relating to the Company, its subsidiaries and its general partner (the “Company Group”) and their respective Affiliates and certain other persons; 

 

	 	ii.	Litigation: Information regarding current status of certain litigation pending against the Company Group and its Affiliates and certain other persons; 

 

	 	iii.	Strategic Discussions: Information regarding strategic decisions considered by the Company Group, including, but not limited to, expansions, divestitures, mergers, acquisitions, joint venture partnerships,
corporate or other conversions, restructurings and other strategic matters considered by the Company Group, and other strategic board discussions; 

  

	 	iv.	Capital Raise: Information related to the Company Group’s efforts to raise capital from various sources, including, without limitation, the proposed terms thereof; 

 

	 	v.	Management and Board: Information relating to hiring, firing, compensation, retention and/or promotion regarding the Company Group’s managers; 

 

	 	vi.	Capital Budgeting and Capital Structure Alternatives: Information regarding uses of the Company Group’s capital, including priorities for capital deployment, and capital structure, including any amendments,
refinancing plans, dividends and other material items related to the capital structure and the fundings of loans or other capital contemplated in connection with this Agreement and the Other Note Purchase Agreement; and 

  
 -4- 

	 	vii.	Other Miscellaneous Information: Other information, including material nonpublic information, gathered from conversations with Company Group’s management and other stakeholders. 

 

	 	h.	If the Material Information were disclosed to a Seller, the Material Information could foreseeably affect (i) the applicable Seller’s willingness to enter into the transaction contemplated hereby and
(ii) the price the applicable Seller would be willing to receive in connection with the sale of the Notes. Moreover, the Material Information may indicate that the value of the Notes is substantially different from the purchase price
contemplated to be paid by the Company to the applicable Seller for the Notes. 

  

	 	i.	Notwithstanding the Company’s possession of the Material Information, which is not being disclosed, and the other items set forth in this Agreement, each Seller desires to enter into this Agreement.

  

	 	j.	Each Seller is a sophisticated investor with respect to the Notes and has adequate information concerning the business and financial condition of the Company, and understands the disadvantage to which any party hereto
may be subject on account of the disparity of information as between the parties. Each Seller believes, by reason of its business or financial experience, that it is capable of evaluating the merits and risks of the purchase and sale of the Notes
pursuant to this Agreement, and of protecting its own interest in connection with such transfer. 

  

	 	k.	To the fullest extent permitted by law, each Seller, on behalf of itself and each of its Affiliates, expressly waives and fully releases and discharges the Company, including its Affiliates and the Company’s and
its Affiliates’ respective current and former partners, members, managers, officers, directors, employees, representatives and agents (collectively, the “Company Released Persons”), from any and all actions, proceedings, suits,
judgments, liens and executions of any kind, claims, debts, loss, damages and demands whatsoever, in law or in equity, including attorneys’ fees, that each Seller ever had, now has or hereafter shall or may have, whether known or unknown for,
upon or by reason of, any claim asserted with regard to, based upon or arising from any of the Company’s failure to disclose or any of the Sellers’ failure or inability to obtain and review, in connection with the transactions contemplated
under this Agreement, the Material Information, including, without limitation, claims they may have or hereafter acquire under applicable U.S. (federal or state) securities laws, but in any event excluding claims arising as a result of fraud or
based on any breach by a Company Released Person of any provision, representation, warranty or covenant of this Agreement or any other agreement by and between such Seller and any Company Released Person (“Seller Excluded Claims”).
Each Seller shall not institute or maintain any cause of action, suit, complaint or other proceeding against any Company Released Person as a result of a Company Released Person’s failure to disclose the Material Information to the applicable
Seller, other than with respect to Seller Excluded Claims. Each Seller shall indemnify each Company Released Person from any loss, claim, cost, expense or damage arising out of any breach by the applicable Seller of its representations, warranties
or covenants under this Agreement. 

  
 -5- 

	 	l.	Each Seller is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act. 

  

	 	m.	The Company is relying on the representations set forth in this Section 6 in engaging in the transaction contemplated hereby, and would not engage in such transaction in the absence of such
representations. 

  

	 	6.	REPRESENTATIONS OF THE COMPANY. The Company represents as follows to each Seller as of the date hereof and as of the Settlement Date: 

 

	 	a.	The Company has the requisite limited partnership power and authority enter into this Agreement and to perform its obligations hereunder. 

 

	 	b.	The purchase of the Notes by the Company hereunder does not violate or represent a breach of, or constitute a default under, any instruments governing the Company, any law, regulation or order, or any agreement to which
the Company is a party or by which the Company is bound. The Company is not party to any other agreement, commitment, contract or other instrument which would adversely affect its ability to perform its obligations hereunder and/or the purchase and
sale transactions contemplated by this Agreement, including the Indenture, the indenture, dated as of December 4, 2012, among the Company, Legacy Reserves Finance Corporation, the guarantors named therein and Wilmington Trust, National
Association, as trustee, as supplemented by the First Supplemental Indenture, dated as of August 25, 2015, and the Credit Agreement dated as of October 25, 2016, by and among the Company, the financial institutions from time to time party
thereto as lenders, and Cortland Capital Market Services LLC, as the Administrative Agent, as amended. 

  

	 	c.	This Agreement has been duly executed and delivered by the Company and constitutes a legal, valid and binding obligation of the Company enforceable in accordance with its terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

 

	 	d.	The Company acknowledges and agrees that no Seller nor any of their respective Affiliates has given any investment advice or rendered any opinion to the Company as to whether the purchase or sale of the Notes is prudent
or suitable, and the Company is not relying on any representation or warranty by any other party hereto, except as expressly set forth in this Agreement. 

  

	 	e.	Since December 31, 2014, the Company (and its predecessor, if any) has, in all material respects, timely filed all reports, schedules, forms, statements and other documents required to be filed by it with the
Commission pursuant to the reporting requirements of the Exchange Act (all of the foregoing filed prior to the Effective Date, and all exhibits included therein and financial statements, notes and schedules thereto and documents incorporated by
reference therein being hereinafter referred to as the “SEC Documents”). As of their respective filing dates, the SEC Documents complied in all material respects with the requirements of the Exchange Act and the rules and regulations of
the SEC promulgated thereunder applicable to the SEC Documents, and none of the SEC Documents, at the time they were filed with the Commission, contained any untrue statement of a material fact or omitted to state a material fact required to be
stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

  
 -6- 

	 	f.	Each of the Sellers is relying on the representations set forth in this Section 6 in engaging in the transaction contemplated hereby, and would not engage in such transaction in the absence of
such representations. 

  

	 	7.	MISCELLANEOUS. 

  

	 	a.	Except as expressly provided in this Agreement, all of the covenants, terms, provisions, conditions and agreements contained herein shall be binding upon and shall inure to the benefit of the successors and assigns of
the Company and each Seller. 

  

	 	b.	The provisions of this Agreement shall survive the occurrence of the Settlement Date. 

  

	 	c.	The Company and the Sellers agree to execute any and all documents, amendments, notices and certificates, and to take any such additional actions, which may be necessary or convenient to effect the consummation of the
transactions contemplated by this Agreement and further the intent of the parties hereunder. 

  

	 	d.	This Agreement may be amended or modified only by a writing signed by the Company and each of the Sellers. 

  

	 	e.	 THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT AND ANY DISPUTE OF CLAIMS
ARISING IN CONNECTION THEREWITH SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. With respect to all matters relating to this Agreement, each of the parties hereto hereby irrevocably and
unconditionally (i) submits to the exclusive jurisdiction of the U.S. District Court for the Southern District of New York State or, if that court does not have subject matter jurisdiction, in any State court located in the City and County of
New York; (ii) agrees that such party shall bring any and all claims concerning this Agreement and/or the transactions contemplated hereunder (whether based on contract, tort or otherwise) solely in such courts and that such claims shall be
heard and determined exclusively in such courts, (iii) waives, to the fullest extent such party may effectively do so, the defense of an inconvenient forum, (iv) agrees that a final judgment of such courts shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law, and (v) consents to the service of any process, summons, notice or document in any such suit, action or proceeding by registered mail addressed to
the addresses specified in Section 7g. below. Nothing herein will affect the right of any party hereto to serve legal process in any other manner permitted by law or affect such party’s right to bring any suit, action
or proceeding against the other party or such other party’s property in the courts of other jurisdictions. EACH PARTY HERETO IRREVOCABLY 

  
 -7- 

	 	
WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS FEE LETTER OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THE ACTIONS OF THE PARTIES HERETO IN THE NEGOTIATION, PERFORMANCE OR ENFORCEMENT HEREOF. 

  

	 	f.	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 signature page to this Agreement by facsimile transmission or in electronic (e.g., “pdf” or “tif”) format shall be as effective as delivery of a manually signed
counterpart of this Amendment. 

  

	 	g.	Any notice, request, claim, demand or other communication under this Agreement shall be in writing and shall be delivered by hand, by e-mail or by overnight courier service to the
address for each party listed below, and shall be deemed to have been given when receipt is acknowledged for personal delivery or e-mail or one day after deposit with overnight courier service, addressed as
follows: 

 If to the Company: 

Legacy Reserves LP 
 303 W.
Wall Street, Suite 1800 
 Midland, Texas 79701 

Attention:     Bert Ferrara 

Email:           bferrara@legacylp.com 

with a copy (which shall not constitute notice) to: 

Kirkland & Ellis LLP 

609 Main Street 
 Houston, Texas
77002 
 Attention:     Matthew R. Pacey, P.C. 

    Michael P. Fisherman 

Email:     matt.pacey@kirkland.com 

       michael.fisherman@kirkland.com 

If to any Seller: 
 c/o Fir
Tree, Inc. 
 55 West 46th Street, 29th Floor 

New York, NY 10036 
 Attention:
    Brian A. Meyer, General Counsel 
 Email:
          bmeyer@firtree.com 

  
 -8- 

 with a copy (which shall not constitute notice) to: 

Lowenstein Sandler LLP 
 1251
Avenue of the Americas 
 New York, NY 10020 

Attention:     Steven E. Siesser, Esq. 

Email:           ssiesser@lowenstein.com 

	 	

	 	h.	The obligations and liabilities hereunder of the Company and each Seller shall be several and not joint (and not joint and several). The execution and/or delivery of any agreements or documents by the Company and each
Seller in connection with the Settlement, including this Agreement, shall be without recourse to or warranty by any of their respective Affiliates and with respect to the other Sellers, as applicable. 

	 	

	 	i.	Each party hereto acknowledges and agrees that it will pay its own costs and expenses in connection with the negotiation and performance of this Agreement and the transactions contemplated hereby. 

	 	

	 	j.	If the Settlement Date shall not have occurred on or prior to January 5, 2018, this Agreement may be terminated by either the Sellers, on the one hand, or the Company, on the other hand, upon written notice to the other
parties; provided, however, that the right to terminate this Agreement under this Section 7j shall not be available to the Sellers or the Company if they fail to perform any of their material respective obligations under
this Agreement and such failure causes or results in, the failure of the Settlement Date to occur on or prior to January 5, 2018. In the event of the termination of this Agreement as provided in this Section 7j, this
Agreement shall forthwith terminate and this Agreement and the transactions contemplated hereby shall become void and have no effect, except that nothing herein will relieve any party from liability for any breach of this Agreement by such party
occurring prior to such termination of any representation, warranty, agreement or covenant contained herein. 

	 	

 [Remainder of the page is left intentionally blank] 

  
 -9- 

 
			
	COMPANY:
	
	LEGACY RESERVES LP
		
	By:	 	Legacy Reserves GP, LLC,
	its general partner

  

			
		
	By:	 	 /s/ James Daniel Westcott

	Name:	 	James Daniel Westcott
	Title:	 	Executive Vice President and Chief
	Financial Officer

 [Signature Page to Note Purchase Agreement] 

 
			
	SELLERS:
	
	FIR TREE VALUE MASTER FUND, L.P.
		
	By:	 	 /s/ Brian A. Meyer

	Name:	 	Brian A. Meyer
	Title:	 	Authorized Person

  

			
	FIR TREE CAPITAL OPPORTUNITY MASTER FUND, L.P.
		
	By:	 	 /s/ Brian A. Meyer

	Name:	 	Brian A. Meyer
	Title:	 	Authorized Person

  

			
	FIR TREE CAPITAL OPPORTUNITY MASTER FUND III, L.P.
		
	By:	 	 /s/ Brian A. Meyer

	Name:	 	Brian A. Meyer
	Title:	 	Authorized Person

  

			
	FT SOF IV HOLDINGS, LLC
		
	By:	 	 /s/ Brian A. Meyer

	Name:	 	Brian A. Meyer
	Title:	 	Authorized Person

  

			
	FT SOF V HOLDINGS, LLC
		
	By:	 	 /s/ Brian A. Meyer

	Name:	 	Brian A. Meyer
	Title:	 	Authorized Person

  

			
	FT SOF VII HOLDINGS, LLC 
		
	By:	 	 /s/ Brian A. Meyer

	Name:	 	Brian A. Meyer
	Title:	 	Authorized Person

 [Signature Page to Note Purchase Agreement]

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