Document:

Form of Medium-Term Notes, Series P

 Exhibit 4.2 

[Face of Note] 

Unless this certificate is presented by an authorized representative of The Depository Trust Company, a New York corporation
(“DTC”), to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as requested by an authorized representative
of DTC (and any payment is made to Cede & Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the
registered owner hereof, Cede & Co., has an interest herein. 
  

			
	 CUSIP NO. 95000N3G2

REGISTERED NO.     
	 	PRINCIPAL AMOUNT: $                

 WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES P 

Due Nine Months or More From Date of Issue 

Notes Linked to the 10-Year Constant Maturity Swap Rate due October 20, 2027 

WELLS FARGO & COMPANY, a corporation duly organized and existing under the laws of the State of Delaware (hereinafter
called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or registered assigns, the principal sum of
                 DOLLARS ($                ) on October 20, 2027 (the
“Stated Maturity Date”) and to pay interest thereon from October 20, 2017 or from the most recent Interest Payment Date to which interest has been paid or duly provided for quarterly on each January 20, April 20,
July 20 and October 20, commencing January 20, 2018, and at Maturity (each, an “Interest Payment Date”), at the rate per annum specified below 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 Security (or one or more Predecessor Securities) is registered at the close of
business on the Regular Record Date for such interest next preceding such Interest Payment Date. The Regular Record Date for an Interest Payment Date shall be one Business Day prior to such Interest Payment Date. If an Interest Payment Date is not a
Business Day, interest on this Security shall be payable on the next day that is a Business Day, with the same force and effect as if made on such Interest Payment Date, and without any interest or other payment with respect to the delay.
“Business Day” shall mean a day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions are authorized or required by law or regulation to close in New York, New York. 

Except as described below for the first Interest Period, on each Interest Payment Date, interest will be paid for the period
commencing on and including the immediately preceding Interest Payment Date and ending on and including the day immediately preceding that Interest Payment Date. This period is referred to as an “Interest Period.” The first Interest
Period will 

 
commence on and include October 20, 2017 and end on and include January 19, 2018. Interest on this Security will be computed on the basis of a
360-day year of twelve 30-day months. 
 The
interest rate on this Security that will apply (A) during the first eight Interest Periods (up to and including the Interest Period ending October 19, 2019) will be equal to 4.05% per annum and (B) for all Interest Periods commencing
on or after October 20, 2019 will be determined by the calculation agent for this Security (the “Calculation Agent”) and will be equal to the 10-Year Constant Maturity Swap Rate on the
Interest Determination Date for such Interest Period. 
 The “Interest Determination Date” for an Interest
Period commencing on or after October 20, 2019 will be two U.S. Government Securities Business Days prior to the first day of such Interest Period. A “U.S. Government Securities Business Day” means any day except for a
Saturday, Sunday or a day on which the Securities Industry and Financial Markets Association recommends that the fixed income department of its members be closed for the entire day for purposes of trading in U.S. government securities. 

“10-Year Constant Maturity Swap Rate” or “10-Year CMS Rate,” means, for any Interest Determination Date, the “U.S. Dollar ICE Swap Rate,” which will be the rate for U.S. Dollar swaps with a designated maturity of 10 years,
expressed as a percentage, that appears on the Reuters page <ICESWAP1> (or any successor page thereto) as of 11:00 a.m., New York City time, on such Interest Determination Date. 

If such rate does not appear on the Reuters page <ICESWAP1> (or any successor page thereto) at such time, the
Calculation Agent shall determine the 10-Year CMS Rate for the relevant Interest Determination Date on the basis of the Mid-market Semi-annual Swap Rate quotations
provided by the CMS Reference Banks at approximately 11:00 a.m., New York City time, on such Interest Determination Date. The Calculation Agent will request the principal New York City office of each of the CMS Reference Banks to provide a quotation
of its rate, and 
  

	 	(i)	 if at least three quotations are provided, the rate for that Interest Determination Date will be the
arithmetic mean of the quotations, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest); or 

 

	 	(ii)	 if fewer than three quotations are provided, the Calculation Agent will determine the rate in its sole
discretion. 

 “CMS Reference Banks” means five leading swap dealers selected by the
Calculation Agent in its sole discretion in the New York City interbank market. 

“Mid-market Semi-annual Swap
Rate” means, on any Interest Determination Date, the mean of the bid and offered rates for the semi-annual fixed leg, calculated on a 30/360 day count basis, of a
fixed-for-floating U.S. Dollar interest rate swap transaction with a term equal to a designated maturity of 10 years commencing on such Interest Determination
Date and in a CMS Representative Amount with an acknowledged dealer of good credit in the swap market, where 

  
 2 

 
the floating leg, calculated on an actual/360 day count basis, is equivalent to U.S. Dollar LIBOR with a designated maturity of three months. 

“CMS Representative Amount” means an amount that is representative for a single transaction in the relevant
market at the relevant time as determined by the Calculation Agent in its sole discretion. 
 The Calculation Agent shall,
upon the request of a Holder of this Security, provide the interest rate then in effect and, if determined, the interest rate that will become effective for the next Interest Period. All calculations of the Calculation Agent, in the absence of
manifest error, shall be conclusive for all purposes and binding on the Company and the Holder hereof. The Calculation Agent shall notify the Paying Agent of each determination of the interest applicable to this Security promptly after the
determination is made. Wells Fargo Securities, LLC will initially act as Calculation Agent. The Company may appoint a successor Calculation Agent with the written consent of the Trustee. 

Any interest not punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record
Date and may either be paid to the Person in whose name this Security (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,
notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange
on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

Payment of interest on this Security will be made in immediately available funds at the office or agency of the Company
maintained for that purpose in the City of Minneapolis, Minnesota in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that, at the option of
the Company, payment of interest may be paid by check mailed to the Person entitled thereto at such Person’s last address as it appears in the Security Register or by wire transfer to such account as may have been designated by such Person.
Payment of principal of and interest on this Security at Maturity will be made against presentation of this Security at the office or agency of the Company maintained for that purpose in the City of Minneapolis, Minnesota. Notwithstanding the
foregoing, for so long as this Security is a Global Security registered in the name of the Depositary, payments of principal and interest on this Security will be made to the Depositary by wire transfer of immediately available funds. 

This Security is not subject to redemption at the option of the Company or repayment at the option of the Holder hereof prior
to October 20, 2027. This Security is not entitled to any sinking fund. 
  

 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions
shall for all purposes have the same effect as if set forth at this place. 

  
 3 

 Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature or its duly authorized agent under the Indenture referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid
or obligatory for any purpose. 
 [The remainder of this page has been left intentionally blank] 

  
 4 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal. 
 DATED: 
  

					
	WELLS FARGO & COMPANY

 
					
		
	By:	 	 
		 	
		 	Its:	 	

 [SEAL] 
  

					
	Attest:	 	 
		 	
		 	Its:	 	

  

			
	 TRUSTEE’S CERTIFICATE OF

AUTHENTICATION
 This is one of the Securities of the

series designated therein described
 in the within-mentioned Indenture.

	
	 CITIBANK, N.A.,

      as Trustee

		
	By:	 	 
		 	Authorized Signature
	
	OR
	
	 WELLS FARGO BANK, N.A.,

  as Authenticating Agent for the Trustee

		
	By:	 	 
		 	Authorized Signature

  
 5 

 [Reverse of Note] 

WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES P 

Due Nine Months or More From Date of Issue 

Notes Linked to the 10-Year Constant Maturity Swap Rate due October 20, 2027 

This Security is one of a duly authorized issue of securities of the Company (herein called the
“Securities”), issued and to be issued in one or more series under an indenture dated as of July 21, 1999, as amended or supplemented from time to time (herein called the “Indenture”), between the Company and
Citibank, N.A., as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is
one of the series of the Securities designated as Medium-Term Notes, Series P of the Company, which series is limited to an aggregate principal amount of $25,000,000,000 or the equivalent thereof in one or more foreign or composite currencies.
The Securities of this series will bear interest at a fixed rate or a floating rate. The Securities of this series may mature at different times, be redeemable at different times or not at all, be repayable at the option of the Holder at different
times or not at all and be denominated in different currencies. 
 Article Sixteen of the Indenture shall not apply to this
Security. 
 Article Seventeen of the Indenture shall apply to this Security. 

The Securities are issuable only in registered form without coupons and will be either
(a) book-entry securities represented by one or more Global Securities recorded in the book-entry system maintained by the Depositary or (b) certificated
securities issued to and registered in the names of, the beneficial owners or their nominees. 
 The Company agrees, to the
extent permitted by law, not to voluntarily claim the benefits of any laws concerning usurious rates of interest against a Holder of this Security. 

Events of Default 

“Event of Default”, whenever used herein with respect to the Securities of this series, means any one of the
following events (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law, pursuant to any judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body): 
 (1) default in the payment of any interest upon any Security of this
series when it becomes due and payable, and continuance of such default for a period of 30 days; or 

  
 6 

 (2) default in the payment of the principal of any Security
of this series at its Maturity, and continuance of such default for a period of 30 days; or 
 (3)
default in the performance, or breach, of any covenant or warranty of the Company in the Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in Section 501 of the Indenture specifically dealt
with or which has expressly been included in the Indenture solely for the benefit of Securities of a series other than the Securities of this series), and continuance of such default or breach for a period of 90 days after there has been given by
registered or certified mail, to the Company by the Trustee, or to the Company and the Trustee by the Holders of at least 25% in principal amount of the Outstanding Securities of this series, a written notice specifying such default or breach and
requiring it to be remedied and stating that such notice is a “Notice of Default” under the Indenture, or 

(4) the failure of the Company, subject to the provisions of Section 1008 of the Indenture, to observe and
perform the covenants contained in Section 1005 of the Indenture; or 
 (5) the entry by a court having
jurisdiction of (A) a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency or similar law or (B) a decree or order adjudging the Company a
bankrupt or insolvent, or approving a petition seeking receivership, insolvency or liquidation of or in respect of the Company under any applicable Federal or State law, or appointing a receiver, liquidator, trustee or similar official of the
Company, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive days; or 

(6) the commencement by the Company of a voluntary case or proceeding under any applicable Federal or State
bankruptcy, insolvency or similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, the appointment of a receiver for the Company under any applicable Federal or State bankruptcy, insolvency or similar law following
consent by the Board of Directors of the Company to such appointment, or the entry of a decree or order for relief in respect of the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency,
receivership, liquidation or similar law following the Company’s consent to such decree or order. 
 If an Event of
Default specified in Clause (1), (2), (5) or (6) shall occur and be continuing, the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. For the avoidance
of doubt, if an Event of Default specified in Clause (3) or (4) shall occur and be continuing, the principal of the Securities of this series may not be declared due and payable. 

Modification and Waivers 

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 of each series to be affected under the Indenture at any time by the Company and the 

  
 7 

 
Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of all series to be affected, acting together as a class. The Indenture also
contains provisions permitting the Holders of a majority in principal amount of the Securities of all series at the time Outstanding affected by certain provisions of the Indenture, acting together as a class, on behalf of the Holders of all
Securities of such series, to waive compliance by the Company with those provisions of the Indenture. Certain past defaults under the Indenture and their consequences may be waived under the Indenture by the Holders of a majority in principal amount
of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future
Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 

Defeasance 

Section 403 and Article Fifteen of the Indenture and the provisions of clause (ii) of Section 401(1)(B) of the
Indenture, relating to defeasance at any time of (a) the entire indebtedness on this Security and (b) certain restrictive covenants and certain Events of Default, upon compliance by the Company with certain conditions set forth therein,
shall not apply to this Security. The remaining provisions of Section 401 of the Indenture shall apply to this Security. 
 Authorized
Denominations 
 This Security is issuable only in registered form without coupons in denominations of $1,000 or any
amount in excess thereof which is an integral multiple of $1,000. 
 Registration of Transfer 

Upon due presentment for registration of transfer of this Security at the office or agency of the Company in the City of
Minneapolis, Minnesota, a new Security or Securities of this series, with the same terms as this Security, in authorized denominations for an equal aggregate principal amount will be issued to the transferee in exchange herefor, as provided in the
Indenture and subject to the limitations provided therein and to the limitations described below, without charge except for any tax or other governmental charge imposed in connection therewith. 

This Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the
Company that it is unwilling or unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not
appointed within 90 days after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in its sole discretion determines that this Security shall be exchangeable for definitive Securities in registered form
and notifies the Trustee thereof or (z) an Event of Default with respect to the Securities represented hereby has occurred and is continuing. If this Security is exchangeable pursuant to the preceding sentence, it shall be exchangeable for
definitive Securities in registered form, bearing interest at the same rate, having the same date of issuance, Stated Maturity Date and other terms and of authorized denominations aggregating a like amount. 

  
 8 

 This Security may not be transferred except as a whole by the Depositary to
a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or by the Depositary or any such nominee to a successor of the Depositary or a nominee of such successor. Except as provided above,
owners of beneficial interests in this Global Security will not be entitled to receive physical delivery of Securities in definitive form and will not be considered the Holders hereof for any purpose under the Indenture. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company
or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 Obligation of the Company Absolute 

No reference herein to the Indenture and no provision of this Security or the Indenture shall alter or impair the obligation of
the Company, which is absolute and unconditional, to pay the principal of and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed, except as otherwise provided in this Security. 

No Personal Recourse 

No recourse shall be had for the payment of the principal of or the interest on this Security, or for any claim based hereon,
or otherwise in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or any successor
corporation, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof,
expressly waived and released. 
 Defined Terms 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture
unless otherwise defined in this Security. 
 Governing Law 

This Security shall be governed by and construed in accordance with the law of the State of New York, without regard to
principles of conflicts of laws. 

  
 9 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they
were written out in full according to applicable laws or regulations: 
  

					
	 TEN COM
	 	  -- 
	 	 as tenants in common

			
	 TEN ENT
	 	  -- 
	 	 as tenants by the entireties

			
	 JT TEN
	 	  -- 
	 	 as joint tenants with right

of survivorship and not
 as
tenants in common

  

							
	 UNIF GIFT MIN ACT -- 
	 	 	 	 Custodian
	 	 
		 	(Cust)	 		 	(Minor)

  

	
	Under Uniform Gifts to Minors Act
	
	   

	(State)

 Additional abbreviations may also be used though not in the above list. 

FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto 

 

	
	 Please Insert Social Security or
 Other
Identifying Number of Assignee

	
	   

  
  

 
  
  

 
 (PLEASE
PRINT OR TYPE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE)

  
 10 

 the within Security of WELLS FARGO & COMPANY and does hereby irrevocably constitute
and appoint                                      attorney to
transfer the said Security on the books of the Company, with full power of substitution in the premises. 
 Dated:
                                         
        
  

	
	   

  

	
	   

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the
within instrument in every particular, without alteration or enlargement or any change whatever. 

  
 11Exhibit 10.1

 

Voting Agreement

 

This Voting Agreement
(this “Agreement”), dated as of October 19, 2017 between the undersigned stockholder (“Stockholder”)
of AgEagle Aerial Systems, Inc., a Nevada corporation (the “Company”), and EnerJex Resources, Inc., a Nevada corporation
(“Parent”).

 

WHEREAS, concurrently
with or following the execution of this Agreement, the Company, Parent and AgEagle Merger-Sub, Inc., a Nevada corporation and wholly
owned subsidiary of Parent (“Merger Sub”), have entered, or will enter, into an Agreement and Plan of Merger (as
the same may be amended from time to time, the “Merger Agreement”), providing for, among other things, the merger
(the “Merger”) of Merger Sub and the Company pursuant to the terms and conditions of the Merger Agreement;

 

WHEREAS, as a condition
to its willingness to enter into the Merger Agreement, Parent has required that Stockholder execute and deliver this Agreement;
and

 

WHEREAS, in order to
induce Parent to enter into the Merger Agreement, Stockholder is willing to make certain representations, warranties, covenants
and agreements with respect to the shares of common stock, par value $.0001 per share, of the Company (“Company Common
Stock”) beneficially owned by Stockholder and set forth below Stockholder’s signature on the signature page hereto (the
“Original Shares” and, together with any additional shares of Company Common Stock pursuant to Section 6 hereof,
the “Shares”).

 

NOW, THEREFORE, in
consideration of the premises and for other good and valuable consideration, the receipt, sufficiency and adequacy of which are
hereby acknowledged, the parties hereto agree as follows:

 

		1.	Definitions.

 

For purposes of this
Agreement, capitalized terms used and not defined herein shall have the respective meanings ascribed to them in the Merger Agreement.

 

		2.	Representations of Stockholder.

 

Stockholder represents
and warrants to Parent that:

 

(a)       (i)
Stockholder owns beneficially (as such term is defined in Rule 13d-3 under the Securities Exchange Act of 1934 (the “Exchange
Act”) all of the Original Shares free and clear of all liens (other than those imposed under federal and state securities
laws), and (ii) there are no options, warrants or other rights, agreements, arrangements or commitments of any character to which
Stockholder is a party relating to the pledge, disposition or voting of any of the Original Shares and there are no voting trusts
or voting agreements with respect to the Original Shares.

 

     

     

    

 

(b)       Stockholder
does not beneficially own any shares of Company Common Stock other than (i) the Original Shares and (ii) any options, warrants
or other rights to acquire any additional shares of Company Common Stock or any security exercisable for or convertible into shares
of Company Common Stock, set forth on the signature page of this Agreement (collectively, “Options”).

 

(c)       Stockholder
has full corporate power and authority and legal capacity to enter into, execute and deliver this Agreement and to perform fully
Stockholder’s obligations hereunder (including the proxy described in Section 3(b) below). This Agreement has been duly
and validly executed and delivered by Stockholder and constitutes the legal, valid and binding obligation of Stockholder, enforceable
against Stockholder in accordance with its terms.

 

(d)       None
of the execution and delivery of this Agreement by Stockholder, the consummation by Stockholder of the transactions contemplated
hereby or compliance by Stockholder with any of the provisions hereof will conflict in any material respect with or result in a
material breach, or constitute a material default (with or without notice of lapse of time or both) under any provision of, any
trust agreement, loan or credit agreement, note, bond, mortgage, indenture, lease or other agreement, instrument or law applicable
to Stockholder or to Stockholder’s property or assets.

 

(e)       No
consent, approval or authorization of, or designation, declaration or filing with, any Governmental Entity or other person or entity
on the part of Stockholder is required in connection with the valid execution and delivery of this Agreement. No consent of Stockholder’s
spouse is necessary under any “community property” or other laws in order for Stockholder to enter into and perform its
obligations under this Agreement.

 

		3.	Agreement to Vote Shares; Irrevocable Proxy.

 

(a)       Stockholder
agrees during the term of this Agreement to vote the Shares, and to cause any holder of record of Shares to vote or execute a written
consent or consents if stockholders of the Company are requested to vote their shares through the execution of an action by written
consent in lieu of any such annual or special meeting of stockholders of the Company: (i) in favor of the Merger and the Merger
Agreement, at every meeting (or in connection with any action by written consent) of the stockholders of the Company at which such
matters are considered and at every adjournment or postponement thereof; (ii) against (1) any other transaction, (2) any action,
proposal, transaction or agreement which could reasonably be expected to result in a breach of any covenant, representation or
warranty or any other obligation or agreement of the Company under the Merger Agreement or of Stockholder under this Agreement
and (3) any action, proposal, transaction or agreement that could reasonably be expected to impede, interfere with, delay, discourage,
adversely affect or inhibit the timely consummation of the Merger or the fulfillment of Parent’s, the Company’s or Merger Sub’s
conditions under the Merger Agreement or change in any manner the voting rights of any class of shares of the Company (including
any amendments to the Company’s Articles of Incorporation).

 

    	 	2	 

     

    

 

(b)       Stockholder
hereby appoints Parent and any designee of Parent, and each of them individually, its proxies and attorneys-in-fact, with full
power of substitution and resubstitution, to vote or act by written consent during the term of this Agreement with respect to the
Shares in accordance with Section 3(a). This proxy and power of attorney is given to secure the performance of the duties
of Stockholder under this Agreement. Stockholder shall take such further action or execute such other instruments as may be reasonably
necessary to effectuate the intent of this proxy. This proxy and power of attorney granted by Stockholder shall be irrevocable
during the term of this Agreement, shall be deemed to be coupled with an interest sufficient in law to support an irrevocable proxy
and shall revoke any and all prior proxies granted by Stockholder with respect to the Shares. The power of attorney granted by
Stockholder herein is a durable power of attorney and shall survive the dissolution, bankruptcy, death or incapacity of Stockholder.
The proxy and power of attorney granted hereunder shall terminate upon the termination of this Agreement.

 

		4.	No Voting Trusts or Other Arrangement.

 

Stockholder agrees
that Stockholder will not, and will not permit any entity under Stockholder’s control to, deposit any of the Shares in a voting
trust, grant any proxies with respect to the Shares or subject any of the Shares to any arrangement with respect to the voting
of the Shares other than agreements entered into with Parent.

 

		5.	Transfer and Encumbrance.

 

Stockholder agrees
that during the term of this Agreement, Stockholder will not, directly or indirectly, transfer, sell, offer, exchange, assign,
pledge or otherwise dispose of or encumber (“Transfer”) any of the Shares or enter into any contract, option or
other agreement with respect to, or consent to, a Transfer of, any of the Shares or Stockholder’s voting or economic interest therein.
Any attempted Transfer of Shares or any interest therein in violation of this Section 5 shall be null and void; provided,
however, the Stockholder shall be permitted to transfer all or a portion of the Shares (i) to family members of the Stockholder,
(ii) to the Stockholder’s affiliated entities, (the “Permitted Transferee” and collectively the “Permitted
Transferees”); provided further that in each case the Permitted Transferee(s) shall hold such Shares subject to the same
restrictions that are applicable hereunder and shall agree in writing to be bound by the terms of this Agreement prior to any such
transfer.

 

		6.	Additional Shares.

 

Stockholder agrees
that all shares of Company Common Stock that Stockholder purchases, acquires the right to vote or otherwise acquires beneficial
ownership (as defined in Rule 13d-3 under the Exchange Act) of after the execution of this Agreement shall be subject to the terms
of this Agreement and shall constitute Shares for all purposes of this Agreement.

 

    	 	3	 

     

    

 

		7.	Waiver of Appraisal and Dissenters’ Rights.

 

Stockholder hereby
waives, and agrees not to assert or perfect, any rights of appraisal or rights to dissent from the Merger that Stockholder may
have by virtue of ownership of the Shares.

 

		8.	Termination.

 

This Agreement shall
terminate upon the earliest to occur of (i) the Effective Time and (ii) the date on which the Merger Agreement is terminated in
accordance with its terms.

 

		9.	No Agreement as Director or Officer.

 

Stockholder makes no
agreement or understanding in this Agreement in Stockholder’s capacity as a director or officer of the Company or any of its subsidiaries
(if Stockholder holds such office), and nothing in this Agreement: (a) will limit or affect any actions or omissions taken by Stockholder
in stockholder’s capacity as such a director or officer, including in exercising rights under the Merger Agreement, and no such
actions or omissions shall be deemed a breach of this Agreement or (b) will be construed to prohibit, limit or restrict Stockholder
from exercising Stockholder’s fiduciary duties as an officer or director to the Company or its stockholders.

 

		10.	Specific Performance.

 

Each party hereto acknowledges
that it may be impossible to measure in money the damage to the other party if a party hereto fails to comply with any of the obligations
imposed by this Agreement and that, in the event of any such failure, the other party may not have an adequate remedy at law or
damages. Accordingly, each party hereto agrees that injunctive relief or other equitable remedy, in addition to remedies at law
or damages, may be an appropriate remedy for any such failure.

 

		11.	Entire Agreement.

 

This Agreement supersedes
all prior agreements, written or oral, between the parties hereto with respect to the subject matter hereof and contains the entire
agreement between the parties with respect to the subject matter hereof. This Agreement may not be amended or supplemented, and
no provisions hereof may be modified or waived, except by an instrument in writing signed by both of the parties hereto. No waiver
of any provisions hereof by either party shall be deemed a waiver of any other provisions hereof by such party, nor shall any such
waiver be deemed a continuing waiver of any provision hereof by such party.

 

    	 	4	 

     

    

 

		12.	Notices.

 

All notices, requests,
claims, demands, and other communications hereunder shall be in writing and shall be deemed to have been given (a) when delivered
by hand (with written confirmation of receipt), (b) when received by the addressee if sent by a nationally recognized overnight
courier (receipt requested), (c) on the date sent by facsimile or e-mail of a PDF document (with confirmation of transmission)
if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the
recipient, or (d) on the third business day after the date mailed, by certified or registered mail, return receipt requested, postage
prepaid. Such communications must be sent to the respective parties at the following addresses (or at such other address for a
party as shall be specified in a notice given in accordance with this Section 12):

 

If to Parent:

 

EnerJex
Resources, Inc.

4040
Broadway Street, Suite 425

San
Antonio, TX 78209

Phone:
(210) 592-1670

Attention:
Louis G. Schott

Email:
lschott@enerjexres.com

 

Copy to:

 

Dickinson
Wright PLLC

350
E. Las Olas Blvd., Suite 1750

Ft.
Lauderdale, FL 33301

Phone:
(954-991-5421)

Attention:
Joel D. Mayersohn

Email:
JMayersohn@Dickinsonwright.com

 

If to Stockholder, to
the address or electronic mail address set forth for Stockholder on the signature page hereof.

 

Copy to:

 

Loeb
& Loeb LLP

345 Park Avenue

New York, NY 10154

Phone:
(954-991-5421)

Attention:
Mitchell S. Nussbaum

Email:
mnussbaum@loeb.com

 

    	 	5	 

     

    

 

		13.	Miscellaneous.

 

(a)       This
Agreement shall be governed by and construed in accordance with the internal laws of the State of Nevada without giving effect
to any choice or conflict of law provision or rule (whether of the State of Nevada or any other jurisdiction) that would cause
the application of laws of any jurisdiction other than those of the State of Nevada.

 

(b)       Each
of the parties hereto irrevocably agrees that any legal action or proceeding with respect to this Agreement and the rights and
obligations arising hereunder, or for recognition and enforcement of any judgment in respect of this Agreement and the rights and
obligations arising hereunder brought by the other party hereto or its successors or assigns shall be brought and determined exclusively
in the State Courts located in Nevada, or in the event (but only in the event) that such court does not have subject matter jurisdiction
over such action or proceeding, in the Federal Courts located in Nevada. Each of the parties hereto agrees that mailing of process
or other papers in connection with any such action or proceeding in the manner provided in Section 12 or in such other manner
as may be permitted by applicable laws, will be valid and sufficient service thereof. Each of the parties hereto hereby irrevocably
submits with regard to any such action or proceeding for itself and in respect of its property, generally and unconditionally,
to the personal jurisdiction of the aforesaid courts and agrees that it will not bring any action relating to this Agreement or
any of the transactions contemplated by this Agreement in any court or tribunal other than the aforesaid courts. Each of the parties
hereto hereby irrevocably waives, and agrees not to assert, by way of motion, as a defense, counterclaim or otherwise, in any action
or proceeding with respect to this Agreement and the rights and obligations arising hereunder, or for recognition and enforcement
of any judgment in respect of this Agreement and the rights and obligations arising hereunder (i) any claim that it is not personally
subject to the jurisdiction of the above named courts for any reason other than the failure to serve process in accordance with
this Section 13(b), (ii) any claim that it or its property is exempt or immune from jurisdiction of any such court or from
any legal process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid
of execution of judgment, execution of judgment or otherwise), and (iii) to the fullest extent permitted by the applicable law,
any claim that (x) the suit, action or proceeding in such court is brought in an inconvenient forum, (y) the venue of such suit,
action or proceeding is improper, or (z) this Agreement, or the subject matter hereof, may not be enforced in or by such courts.

 

(c)       EACH
PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT
ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT
OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY
TO THIS AGREEMENT CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION, (B) SUCH PARTY HAS CONSIDERED
THE IMPLICATIONS OF THIS WAIVER, (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO
THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 13(c).

 

    	 	6	 

     

    

 

(d)       If
any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or
unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term
or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or unenforceable,
the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as
closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally
contemplated to the greatest extent possible.

 

(e)       This
Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together
shall constitute one and the same instrument.

 

(f)       Each
party hereto shall execute and deliver such additional documents as may be reasonably necessary or desirable to effect the transactions
contemplated by this Agreement.

 

(g)       All
Section headings herein are for convenience of reference only and are not part of this Agreement, and no construction or reference
shall be derived therefrom.

 

(h)       The
obligations of Stockholder set forth in this Agreement shall not be effective or binding upon Stockholder until after such time
as the Merger Agreement is executed and delivered by the Company, Parent and Merger Sub, and the parties agree that there is not
and has not been any other agreement, arrangement or understanding between the parties hereto with respect to the matters set forth
herein.

 

(i)       Neither
party to this Agreement may assign any of its rights or obligations under this Agreement without the prior written consent of the
other party hereto. Any assignment contrary to the provisions of this Section 13(i) shall be null and void.

 

 

 

[SIGNATURE PAGE FOLLOWS]

 

 

 

    	 	7	 

     

    

 

IN WITNESS WHEREOF, the parties
hereto have executed and delivered this Agreement as of the date first written above.

 

	ENERJEX RESOURCES, INC.
	 	 
	 	 
	By	/s/ Louis G. Schott
	 	Name: Louis G. Schott
	 	Title: Interim CEO
	 	 
	 	 
	STOCKHOLDER
	 	 
	 	 
	/s/ Bret Chilcott
	Name: Bret Chilcott
	 	 
	Number of Shares of Company Common Stock Beneficially Owned as of the Date of this Agreement: 3,500,000
	 	 
	Number of Options Beneficially Owned as of the Date of this Agreement: 0
	 	 
	117 South 4th Street
	Neodesha, Kansas 66757
	Tel: (316) 202-2076
	Email: bretc@ageagle.com

 

    	 	8

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