Document:

Registration Rights Agreement, dated Octover 25, 2012

 Exhibit 10.1 
 EXECUTION VERSION 
 $300,000,000 

EPL OIL & GAS, INC. 
 $300,000,000 8.250% of Senior Notes due 2018 
 REGISTRATION RIGHTS
AGREEMENT 
 October 25, 2012 
 CREDIT SUISSE SECURITIES (USA) LLC 
 BMO CAPITAL MARKETS CORP. 

JEFFERIES & COMPANY, INC. 
 As Representatives of the 
 Initial Purchasers listed in 

Schedule I hereto 
 c/o Credit
Suisse Securities (USA) LLC 
 Eleven Madison Avenue 
 New York, New York 10010 
 Ladies and Gentlemen: 

EPL Oil & Gas, Inc., a Delaware corporation (the “Company”), is issuing and selling to the several initial
purchasers listed in Schedule I hereto (the “Initial Purchasers”), upon the terms set forth in the Purchase Agreement dated October 18, 2012, by and among the Company, the Initial Purchasers and the subsidiary guarantors
named therein (the “Purchase Agreement”), $300,000,000 aggregate principal amount of 8.250% Senior Notes due 2018 issued by the Company (each, a “Note” and collectively, the “Notes”). As an
inducement to the Initial Purchasers to enter into the Purchase Agreement, the Company and the subsidiary guarantors listed in the signature pages hereto agree with the Initial Purchasers, for the benefit of the Holders (as defined below) of the
Notes (including, without limitation, the Initial Purchasers), as follows: 
  

	1.	Definitions 

Capitalized terms that are used herein without definition and are defined in the Purchase Agreement shall have the respective meanings
ascribed to them in the Purchase Agreement. As used in this Agreement, the following terms shall have the following meanings: 

Advice: See Section 5(v). 
 Agreement: This Registration Rights Agreement, dated as of the Closing Date, among the Company, the Subsidiary Guarantors listed on the signature pages hereto, and the Initial Purchasers.

 Applicable Period: See Section 2(e). 
 Business Day: A day that is not a Saturday, a Sunday or a day on which banking institutions in the City of New York are authorized or required by law or executive order to be closed. 

Closing Date: October 25, 2012. 
 Company: See the introductory paragraph to this Agreement. 

 Day: Unless otherwise expressly provided, a calendar day. 

Effectiveness Date: The 210th day after the Closing Date. 
 Effectiveness Period: See Section 3(a). 
 Entitled Securities:
Each Note until the earliest to occur of (1) the date on which such Note has been exchanged by a Person other than a broker-dealer for an Exchange Note in the Exchange Offer; (2) following the exchange by a broker-dealer in the Exchange
Offer of a Note for an Exchange Note, the date on which such Exchange Note is sold to a purchaser who receives from such broker-dealer on or prior to the date of such sale a copy of the Prospectus contained in the Exchange Offer Registration
Statement; (3) the date on which such Note has been effectively registered under the Securities Act and disposed of in accordance with the Shelf Registration Statement; (4) the date on which such is actually sold pursuant to Rule 144 under
the Securities Act; and (5) the date on which such Note ceases to be outstanding. 
 Event Date: Each and every date
on which an event occurs in respect of which Special Interest is required to be paid. 
 Exchange Act: The Securities
Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder. 
 Exchange Notes:
Senior Notes due 2018 of the Company under the Original Indenture, or such other indenture as permitted under Section 2(b), identical in all material respects to the Notes, including the guarantees endorsed thereon, except for references to
series, special mandatory redemption, liquidated damages and restrictive legends. 
 Exchange Offer: See
Section 2(a). 
 Exchange Offer Registration Statement: See Section 2(a). 

Filing Date: The 150th day after the Closing Date. 
 FINRA: Financial Industry Regulatory Authority. 
 Holder: Any
beneficial holder of Entitled Securities. 
 Indemnified Party: See Section 7(c). 

Indemnifying Party: See Section 7(c). 
 Indenture: The Indenture, dated as of the Closing Date, among the Company, the Subsidiary Guarantors and U.S. Bank National Association, as trustee, pursuant to which the Notes are being issued, as
amended or supplemented from time to time in accordance with the terms hereof. 
 Initial Purchasers: See the introductory
paragraph to this Agreement. 
 Initial Shelf Registration: See Section 3(a). 

Inspectors: See Section 5(o). 
 Losses: See Section 7(a). 

  
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 Notes: See the introductory paragraph to this Agreement. 

Original Indenture: The Indenture, dated as of February 14, 2011, among the Company, the Subsidiary Guarantors and U.S.
Bank National Association, as trustee. 
 Participating Broker-Dealer: See Section 2(e). 

Person: An individual, trustee, corporation, partnership, limited liability company, joint stock company, trust, unincorporated
association, union, business association, firm, government or agency or political subdivision thereof, or other legal entity. 

Prospectus: The prospectus included in any Registration Statement (including, without limitation, a prospectus that discloses
information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the
terms of the offering of any portion of the Entitled Securities or Exchange Notes covered by such Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated
by reference or deemed to be incorporated by reference in such Prospectus. 
 Purchase Agreement: See the introductory
paragraph to this Agreement. 
 Records: See Section 5(o). 

Registration Default: See Section 4(a)(iii). 
 Registration Default Period: See Section 4(a)(iii). 
 Registration
Statement: Any registration statement of the Company and the Subsidiary Guarantors filed with the SEC under the Securities Act (including, but not limited to, the Exchange Offer Registration Statement, the Shelf Registration Statement and any
Subsequent Shelf Registration) that covers any of the Entitled Securities pursuant to the provisions of this Agreement, including the Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all
exhibits and all material incorporated by reference or deemed to be incorporated by reference in such registration statement. 

Rule 144: Rule 144 promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule (other
than Rule 144A) or regulation hereafter adopted by the SEC providing for offers and sales of securities made in compliance therewith resulting in offers and sales by subsequent holders that are not affiliates of an issuer or such securities being
free of the registration and prospectus delivery requirements of the Securities Act. 
 Rule 144A: Rule 144A promulgated
under the Securities Act, as such Rule may be amended from time to time, or any similar rule (other than Rule 144) or regulation hereafter adopted by the SEC. 
 Rule 415: Rule 415 promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC. 

Rule 430A: Rule 430A promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule or
regulation hereafter adopted by the SEC. 
 SEC: The Securities and Exchange Commission. 

Securities: The Notes and the Exchange Notes. 

  
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 Securities Act: The Securities Act of 1933, as amended, and the rules and regulations
of the SEC promulgated thereunder. 
 Shelf Notice: See Section 2(i). 

Shelf Registration Statement: See Section 3(b). 
 Special Interest: See Section 4(a). 
 Subsequent Shelf
Registration: See Section 3(b). 
 Subsidiary Guarantor: Each subsidiary of the Company that guarantees the
obligations of the Company under the Notes and Indenture. 
 TIA: The Trust Indenture Act of 1939, as amended. 

Trustee: The trustee under the Indenture and, if existent, the trustee under any indenture governing the Exchange Notes, including
the Original Indenture. 
 Underwritten Registration or Underwritten Offering: A registration in which securities of the
Company are sold to an underwriter for reoffering to the public. 
  

	2.	Exchange Offer 

  

	 	(a)	Unless the Exchange Offer would not be permitted by applicable laws or a policy of the SEC, the Company shall (and shall cause each Subsidiary Guarantor to)
(i) prepare and file with the SEC no later than the Filing Date, a registration statement (the “Exchange Offer Registration Statement”) on an appropriate form under the Securities Act with respect to an offer (the “Exchange
Offer”) to the Holders of Notes to issue and deliver to such Holders, in exchange for the Notes, a like principal amount of Exchange Notes, (ii) use commercially reasonable efforts to cause the Exchange Offer Registration Statement to
become effective as promptly as practicable after the filing thereof, but in no event later than the Effectiveness Date, (iii) use commercially reasonable efforts to keep the Exchange Offer Registration Statement effective until the
consummation of the Exchange Offer in accordance with its terms, and (iv) commence the Exchange Offer and use commercially reasonable efforts to issue on or prior to 30 Business Days, or longer, if required by applicable securities laws, after
the date on which the Exchange Offer Registration Statement is declared effective, Exchange Notes in exchange for all Notes tendered in accordance with the terms of the Exchange Offer. The Exchange Offer shall not be subject to any conditions, other
than that the Exchange Offer does not violate applicable law or any applicable interpretation of the staff of the SEC and other than permitted by Section 2(d). 

 

	 	(b)	The Exchange Notes shall be issued under, and entitled to the benefits of, the Original Indenture or a trust indenture that is identical to the Original Indenture
(other than such changes as are necessary to comply with any requirements of the SEC to effect or maintain the qualifications thereof under the TIA). 

  

	 	(c)	Interest on the Exchange Notes will accrue from the last interest payment due date on which interest was paid on the Notes surrendered in exchange therefor or, if no
interest has been paid on the Notes, from August 15, 2012. Each Exchange Note shall bear interest at the rate set forth thereon; provided, however, that interest with respect to the period prior to the issuance thereof shall
accrue at the rate or rates borne by the Notes from time to time during such period. 

  
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	 	(d)	The Company may require each Holder as a condition to participation in the Exchange Offer to make such representations as may be required by applicable law or any
applicable interpretation of the staff of the SEC, including (i) that any Exchange Notes received by it will be acquired in the ordinary course of its business, (ii) that at the time of the commencement and consummation of the Exchange
Offer such Holder has not entered into any arrangement or understanding with any Person to participate in the distribution (within the meaning of the Securities Act) of the Exchange Notes in violation of the provisions of the Securities Act,
(iii) that if such Holder is an “affiliate” of the Company within the meaning of Rule 405 of the Securities Act, it will comply with the registration and prospectus delivery requirements of the Securities Act to the extent applicable
to it, (iv) if such Holder is not a broker-dealer, that it is not engaged in, and does not intend to engage in, the distribution of the Notes and (v) if such Holder is a Participating Broker-Dealer, that it will deliver a Prospectus in
connection with any resale of the Exchange Notes. 

  

	 	(e)	The Company shall (and shall cause each Subsidiary Guarantor to) include within the Prospectus contained in the Exchange Offer Registration Statement a section entitled
“Plan of Distribution” reasonably acceptable to the Initial Purchasers, which shall contain a summary statement of the applicable positions taken or policies made by the staff of the SEC with respect to the potential
“underwriter” status of any broker-dealer that is the beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of Exchange Notes received by such broker-dealer in the Exchange Offer for its own account in exchange for Notes that
were acquired by it as a result of market-making or other trading activity (a “Participating Broker-Dealer”), whether such positions or policies have been publicly disseminated by the staff of the SEC or such positions or policies,
in the reasonable judgment of the Initial Purchasers, represent the prevailing views of the staff of the SEC. Such “Plan of Distribution” section shall also allow, to the extent permitted by applicable policies and regulations of the SEC,
the use of the Prospectus by all Persons subject to the prospectus delivery requirements of the Securities Act, including, to the extent so permitted, all Participating Broker-Dealers, and include a statement describing the manner in which
Participating Broker-Dealers may resell the Exchange Notes. The Company shall use its commercially reasonable efforts to keep the Exchange Offer Registration Statement effective and to amend and supplement the Prospectus contained therein, in order
to permit such Prospectus to be lawfully delivered by all Persons subject to the prospectus delivery requirements of the Securities Act for such period of time as such Persons must comply with such requirements in order to resell the Exchange Notes
(the “Applicable Period”). 

  

	 	(f)	In connection with the Exchange Offer, the Company shall (and shall cause each Subsidiary Guarantor to): 

 

	 	(i)	mail to each Holder a copy of the Prospectus forming part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal that is an
exhibit to the Exchange Offer Registration Statement, and any related documents; 

  

	 	(ii)	keep the Exchange Offer open for not less than 30 days after the date notice thereof is mailed to the Holders (or longer if required by applicable law);

  
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	 	(iii)	utilize the services of a depository for the Exchange Offer with an address in the Borough of Manhattan, the City of New York, which may be the Trustee or an affiliate
thereof; 

  

	 	(iv)	permit Holders to withdraw tendered Entitled Securities at any time prior to the close of business, New York time, on the last Business Day on which the Exchange Offer
shall remain open; and 

  

	 	(v)	otherwise comply in all material respects with all applicable laws. 

  

	 	(g)	As soon as practicable after the close of the Exchange Offer, the Company shall (and shall cause each Subsidiary Guarantor to): 

 

	 	(i)	accept for exchange all Entitled Securities validly tendered pursuant to the Exchange Offer and not validly withdrawn; 

 

	 	(ii)	deliver to the Trustee for cancellation all Entitled Securities so accepted for exchange; and 

 

	 	(iii)	cause the Trustee to authenticate and deliver promptly to each Holder tendering such Entitled Securities, Exchange Notes equal in principal amount to the Notes of such
Holder so accepted for exchange. 

  

	 	(h)	The Exchange Notes shall be issued under the Original Indenture, which will provide that the Exchange Notes will not be subject to the transfer restrictions set forth
in the Indenture, and that the Exchange Notes and the notes of the Company previously issued under the Original Indenture will be deemed one class of security (subject to the provisions of the Original Indenture) and entitled to participate in any
Subsidiary Guarantee (as such term is defined in the Original Indenture) on an equal and ratable basis. 

  

	 	(i)	If (1) the Company and the Subsidiary Guarantors are not required to file the Exchange Offer Registration Statement or permitted to consummate the Exchange Offer
because the Exchange Offer is not permitted by applicable law or SEC policy; or (2) any holder of Entitled Securities notifies the Company prior to the consummation of the Exchange Offer that (A) it is prohibited by law or SEC policy from
participating in the Exchange Offer; (B) it may not resell the Exchange Notes acquired by it in the Exchange Offer to the public without delivering a prospectus and the prospectus contained in the Exchange Offer Registration Statement is not
appropriate or available for such resales; or (C) it is a broker-dealer and owns Notes acquired directly from the Company or an affiliate of the Company, then the Company shall promptly (and in any event within five Business Days) deliver to
the Holders and the Trustee notice thereof (the “Shelf Notice”) and shall as promptly as possible thereafter (but in no event later than the Shelf Filing Date) file an Initial Shelf Registration pursuant to Section 3 hereof to
cover resales of the Notes by the holders of the Notes who satisfy certain conditions relating to the provision of information in connection with the Shelf Registration Statement. 

 

	3.	Shelf Registration 

If a Shelf Notice is delivered pursuant to Section 2(i), then this Section 3 shall apply to all Entitled Securities. Otherwise,
upon consummation of the Exchange Offer in accordance with Section 2, the provisions of Section 3 shall apply solely with respect to (i) Notes held by any Holder thereof not permitted

  
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to participate in the Exchange Offer, (ii) Notes held by any broker-dealer that acquired such Notes directly from the Company or any of its affiliates and (iii) Exchange Notes that are
not freely tradeable as contemplated by Section 2(i) hereof, provided in each case that the relevant Holder has duly notified the Company within six months of the Exchange Offer as required by Section 2(i). 

 

	 	(a)	Initial Shelf Registration. The Company shall (and shall cause each Subsidiary Guarantor to), as promptly as practicable, file with the SEC a Registration
Statement for an offering to be made on a continuous basis pursuant to Rule 415 covering all of the Entitled Securities (the “Initial Shelf Registration”). If the Company (and any Subsidiary Guarantor) has not yet filed an Exchange
Offer Registration Statement, the Company shall (and shall cause each Subsidiary Guarantor to) file with the SEC the Initial Shelf Registration on or prior to the Filing Date and shall use commercially reasonable efforts to cause such Initial Shelf
Registration to be declared effective under the Securities Act on or prior to the Effectiveness Date. Otherwise, the Company shall (and shall cause each Subsidiary Guarantor to) use commercially reasonable efforts to file with the SEC the Initial
Shelf Registration within 30 days of the delivery of the Shelf Notice and shall use commercially reasonable efforts to cause such Initial Shelf Registration to be declared effective under the Securities Act as promptly as practicable thereafter (but
in no event more than 90 days after delivery of the Shelf Notice). The Initial Shelf Registration shall be on Form S-1 or another appropriate form permitting registration of such Entitled Securities for resale by Holders in the manner or manners
reasonably designated by them (including, without limitation, one or more underwritten offerings). The Company shall (and shall cause each Subsidiary Guarantor to) use its commercially reasonable efforts to keep the Initial Shelf Registration
continuously effective under the Securities Act until the date which is two years from the Closing Date (subject to extension pursuant to the last sentence of Section 5(w) (the “Effectiveness Period”), or such shorter period
ending when (i) all Entitled Securities covered by the Initial Shelf Registration have been sold in the manner set forth and as contemplated in the Initial Shelf Registration, (ii) a Subsequent Shelf Registration covering all of the
Entitled Securities covered by and not sold under the Initial Shelf Registration or an earlier Subsequent Shelf Registration has been declared effective under the Securities Act or (iii) there cease to be any outstanding Entitled Securities.

  

	 	(b)	Subsequent Shelf Registrations. If the Initial Shelf Registration or any Subsequent Shelf Registration ceases to be effective for any reason at any time during
the Effectiveness Period (other than because of the sale of all of the securities registered thereunder), the Company shall (and shall cause each Subsidiary Guarantor to) use its commercially reasonable efforts to obtain the prompt withdrawal of any
order suspending the effectiveness thereof, and in any event shall within 30 days of such cessation of effectiveness amend such Shelf Registration in a manner to obtain the withdrawal of the order suspending the effectiveness thereof, or file (and
cause each Subsidiary Guarantor to file) an additional “shelf” Registration Statement pursuant to Rule 415 covering all of the Entitled Securities (a “Subsequent Shelf Registration”). If a Subsequent Shelf Registration is
filed, the Company shall (and shall cause each Subsidiary Guarantor to) use its commercially reasonable efforts to cause the Subsequent Shelf Registration to be declared effective as soon as practicable after such filing and to keep such Subsequent
Shelf Registration continuously effective for a period equal to the number of days in the Effectiveness Period less the aggregate number of days during which the Initial Shelf Registration or any Subsequent Shelf Registration was previously
continuously effective. As used herein the term “Shelf Registration Statement” means the Initial Shelf Registration and any Subsequent Shelf Registrations. 

  
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	 	(c)	Supplements and Amendments. The Company shall promptly supplement and amend any Shelf Registration Statement if required by the rules, regulations or
instructions applicable to the registration form used for such Shelf Registration Statement, if required by the Securities Act, or if reasonably requested in writing by the Holders of a majority in aggregate principal amount of the Entitled
Securities covered by such Shelf Registration Statement or by any underwriter of such Entitled Securities. 

  

	 	(d)	Provision of Information. No Holder of Entitled Securities shall be entitled to include any of its Entitled Securities in any Shelf Registration Statement
pursuant to this Agreement unless such Holder furnishes to the Company and the Trustee in writing, within 20 days after receipt of a written request therefor, such information as the Company and the Trustee after conferring with counsel with regard
to information relating to Holders that would be required by the SEC to be included in such Shelf Registration Statement or Prospectus included therein, may reasonably request for inclusion in any Shelf Registration Statement or Prospectus included
therein, and no such Holder shall be entitled to Special Interest pursuant to Section 4 hereof unless and until such Holder shall have provided such information. 

 

	 	(e)	Suspension Right. Notwithstanding the foregoing, the Company may suspend the availability of any Shelf Registration Statement (i) for up to an aggregate of
45 days in any consecutive 12-month period if (A) such action is required by applicable law or (B) such action is taken by the Company in good faith and for valid business reasons (not including avoidance of the Company’s obligations
hereunder) as determined by the board of directors of the Company or an authorized committee thereof, including the acquisition or divestiture of assets, or (ii) with respect to a Shelf Registration Statement required to be filed due to a
failure to consummate the Exchange Offer within the required time period, if such action occurs following the consummation of the Exchange Offer; provided that the Company shall promptly notify the Holders of Entitled Securities covered by such
Shelf Registration Statement when the Shelf Registration Statement may once again be used or is effective. 

  

	4.	Special Interest 

  

	 	(a)	The Company and each Subsidiary Guarantor acknowledges and agrees that the Holders of Entitled Securities will suffer damages if the Company or any Subsidiary Guarantor
fails to fulfill its material obligations under Section 2 or Section 3 hereof and that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, the Company and the Subsidiary Guarantors agree to pay
additional cash interest on the Notes (“Special Interest”) under the circumstances and to the extent set forth below (each of which shall be given independent effect): 

 

	 	(i)	if neither the Exchange Offer Registration Statement nor the Initial Shelf Registration has been filed on or prior to the Filing Date, Special Interest shall accrue on
the Notes over and above any stated interest at a rate of 0.25% per annum of the principal amount of such Notes for the first 90 days immediately following the Filing Date, such Special Interest rate increasing by an additional 0.25% per
annum at the beginning of each subsequent 90-day period; 

  

	 	(ii)	if neither the Exchange Offer Registration Statement nor the Initial Shelf Registration is declared effective on or prior to the Effectiveness Date, Special Interest
shall accrue on the Notes over and above any stated interest at a rate of 0.25% per annum of the principal amount of such Notes for the first 90 days immediately following the Effectiveness Date, such Special Interest rate increasing by an
additional 0.25% per annum at the beginning of each subsequent 90-day period; 

  
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	 	(iii)	if (A) the Company (and any Subsidiary Guarantor) has not exchanged Exchange Notes for all Notes validly tendered in accordance with the terms of the Exchange
Offer on or prior to 30 Business Days after the Effectiveness Date, (B) the Exchange Offer Registration Statement ceases to be effective at any time prior to the time that the Exchange Offer is consummated or (C) if applicable, a Shelf
Registration Statement has been declared effective and such Shelf Registration Statement ceases to be effective at any time prior to the second anniversary of its effective date (other than such time as all Notes have been disposed of thereunder)
and is not declared effective again within 30 days, or (D) the Company shall have suspended the availability of a Shelf Registration Statement pursuant to Section 3(e) or, pending the announcement of a material corporate transaction, the
Company issues a written notice pursuant to Section 5(e)(v) or (vi) that a Shelf Registration Statement or Exchange Offer Registration Statement is unusable, and the aggregate number of days in any 365-day period for which all such notices
issued or required to be issued, have been, or were required to be, in effect exceeds 120 days in the aggregate or 45 days consecutively, in the case of a Shelf Registration Statement, or 15 days in the aggregate in the case of an Exchange Offer
Registration Statement, then Special Interest shall accrue on the Notes over and above any stated interest at a rate of 0.25% per annum of the principal amount of such Notes for the first 90 days immediately following the Effectiveness Date,
such Special Interest rate increasing by an additional 0.25% per annum at the beginning of each subsequent 90-day period (each such event referred to in clauses (i) through (iii), a “Registration Default” and each period
during which a Registration Default has occurred and is continuing, a “Registration Default Period”); 

 provided, however, that Special Interest shall accrue on Entitled Securities for the Registration Default Period until such time as all Registration Defaults have been cured at a per annum rate of
0.25% for the first 90 days of the Registration Default Period, which rate shall increase by an additional 0.25% during each subsequent 90-day period, up to a maximum of 1.00% per annum regardless of the number of Registration Defaults that may
have occurred and be continuing; and provided further, that (1) upon the filing of the Exchange Offer Registration Statement or Initial Shelf Registration (in the case of (i) above), (2) upon the effectiveness of the Exchange
Offer Registration Statement or Initial Shelf Registration (in the case of (ii) above), or (3) upon the exchange of Exchange Notes for all Notes tendered (in the case of (iii)(A) above), or upon the effectiveness of the Exchange Offer
Registration Statement that had ceased to remain effective (in the case of clause (iii)(B) above), or upon the effectiveness of a Shelf Registration Statement which had ceased to remain effective (in the case of (iii)(C) above), Special Interest on
the Notes as a result of such clause (or the relevant subclause thereof) or upon the effectiveness of such Registration Statement or Exchange Offer Registration Statement (in the case of clause (iii)(D) above), as the case may be, shall cease to
accrue. 
  

	 	(b)	The Company shall notify the Trustee within five Business Days after each and every Event Date. Any amounts of Special Interest due pursuant to clause (a)(i), (a)(ii)
or (a)(iii) of this Section 4 will be payable in cash, on the dates and in the manner provided in the Indenture and whether or not any cash interest would then be payable on such date, commencing with the first such semi-annual date
occurring after any such Special Interest commences to accrue. The amount of Special Interest will be determined by multiplying the applicable Special Interest rate by the principal amount of the Notes, multiplied by a fraction, the numerator of
which is the number of days such Special Interest rate was applicable during such period (determined on the basis of a 360-day year comprised of twelve 30-day months and, in the case of a partial month, the actual number of days elapsed), and the
denominator of which is 360. 

  
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	5.	Registration Procedures 

 In connection with the filing of any Registration Statement pursuant to Sections 2 or 3 hereof, the Company shall (and shall cause each Subsidiary Guarantor to) effect such registrations to permit
the sale of such securities covered thereby in accordance with the intended method or methods of disposition thereof, and pursuant thereto and in connection with any Registration Statement filed by the Company hereunder, the Company shall (and shall
cause each Subsidiary Guarantor to): 
  

	 	(a)	Prepare and file with the SEC, on or prior to the Filing Date, the Exchange Offer Registration Statement or if the Exchange Offer Registration Statement is not filed
because of the circumstances contemplated by Section 2(i), a Shelf Registration Statement as prescribed by Section 3, and use its commercially reasonable efforts to cause each such Registration Statement to become effective and remain
effective as provided herein; provided that, if (1) a Shelf Registration Statement is filed pursuant to Section 3 or (2) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2 is
required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto, before filing any Registration Statement or Prospectus or any amendments or
supplements thereto the Company shall (and shall cause each Subsidiary Guarantor to), if requested, furnish to and afford the Holders of the Entitled Securities to be registered pursuant to such Shelf Registration Statement, each Participating
Broker-Dealer, the managing underwriters, if any, and each of their respective counsel, a reasonable opportunity to review copies of all such documents (including copies of any documents to be incorporated by reference therein and all exhibits
thereto) proposed to be filed (in each case at least 5 Business Days prior to such filing). The Company and each Subsidiary Guarantor shall not file any such Registration Statement or Prospectus or any amendments or supplements thereto in respect of
which the Holders must provide information for the inclusion therein without the Holders being afforded a reasonable opportunity to review such documentation if the holders of a majority in aggregate principal amount of the Entitled Securities
covered by such Registration Statement, or any such Participating Broker-Dealer, as the case may be, the managing underwriters, if any, or any of their respective counsel shall reasonably object in writing on a timely basis. A Holder shall be deemed
to have reasonably objected to such filing if such Registration Statement, amendment, Prospectus or supplement, as applicable, as proposed to be filed, contains an untrue statement of a material fact or omits to state any material fact necessary to
make the statements therein not misleading or fails to comply with the applicable requirements of the Securities Act. 

  

	 	(b)	Provide an indenture trustee for the Entitled Securities or the Exchange Notes, as the case may be, and cause the Original Indenture to be qualified under the TIA not
later than the effective date of the first Registration Statement; and in connection therewith, to effect such changes to such indenture as may be required for such indenture to be so qualified in accordance with the terms of the TIA; and execute,
and use its commercially reasonable efforts to cause such trustee to execute, all documents as may be required to effect such changes, and all other forms and documents required to be filed with the SEC to enable such indenture to be so qualified in
a timely manner. 

  
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	 	(c)	Prepare and file with the SEC such pre-effective amendments and post-effective amendments to each Shelf Registration Statement or Exchange Offer Registration Statement,
as the case may be, as may be necessary to keep such Registration Statement continuously effective for the Effectiveness Period or the Applicable Period, as the case may be; cause the related Prospectus to be supplemented by any Prospectus
supplement required by applicable law, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) promulgated under the Securities Act; and comply with the provisions of the Securities Act and the Exchange Act
applicable to them with respect to the disposition of all securities covered by such Registration Statement as so amended or in such Prospectus as so supplemented and with respect to the subsequent resale of any securities being sold by a
Participating Broker-Dealer covered by any such Prospectus. The Company and each Subsidiary Guarantor shall not, during the Applicable Period, voluntarily take any action that would result in selling Holders of the Entitled Securities covered by a
Registration Statement or Participating Broker-Dealers seeking to sell Exchange Notes not being able to sell such Entitled Securities or such Exchange Notes during that period, unless such action is required by applicable law, rule or regulation or
permitted by this Agreement. 

  

	 	(d)	Furnish to such selling Holders and Participating Broker-Dealers who so request in writing (i) upon the Company’s receipt, a copy of the order of the SEC
declaring such Registration Statement and any post effective amendment thereto effective, (ii) such reasonable number of copies of such Registration Statement and of each amendment and supplement thereto (in each case including any documents
incorporated therein by reference and all exhibits), (iii) such reasonable number of copies of the Prospectus included in such Registration Statement (including each preliminary Prospectus) and each amendment and supplement thereto, and such
reasonable number of copies of the final Prospectus as filed by the Company and each Subsidiary Guarantor pursuant to Rule 424(b) under the Securities Act, in conformity with the requirements of the Securities Act and each amendment and supplement
thereto, and (iv) such other documents (including any amendments required to be filed pursuant to Section 5(c)), as any such Person may reasonably request in writing. The Company and the Subsidiary Guarantors hereby consent to the use of
the Prospectus by each of the selling Holders of Entitled Securities or each such Participating Broker-Dealer, as the case may be, and the underwriters or agents, if any, and dealers, if any, in connection with the offering and sale of the Entitled
Securities covered by, or the sale by Participating Broker-Dealers of the Exchange Notes pursuant to, such Prospectus and any amendment or supplement thereto. 

 

	 	(e)	 If (1) a Shelf Registration Statement is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Offer Registration
Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto, the Company shall notify in writing
the selling Holders of Entitled Securities, or each such Participating Broker-Dealer, as the case may be, the managing underwriters, if any, and each of their respective counsel promptly (but in any event within 2 Business Days) (i) when a
Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective (including in such notice a written statement that
any Holder may, upon request, obtain, without charge, one conformed copy of such Registration Statement or post-effective amendment including financial statements and schedules, documents incorporated or deemed to be incorporated by reference and
exhibits), (ii) of the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of any Prospectus or the initiation of any proceedings for that purpose,
(iii) if at any time when a Prospectus is required by the Securities Act to be 

  
 11 

	 	
delivered in connection with sales of the Entitled Securities the representations and warranties of the Company and any Subsidiary Guarantor contained in any agreement (including any underwriting
agreement) contemplated by Section 5(n) hereof cease to be true and correct, (iv) of the receipt by the Company or any Subsidiary Guarantor of any notification with respect to the suspension of the qualification or exemption from
qualification of a Registration Statement or any of the Entitled Securities or the Exchange Notes to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the initiation or threatening of any proceeding for such
purpose, (v) of the happening of any event, the existence of any condition of any information becoming known that makes any statement made in such Registration Statement or related Prospectus or any document incorporated or deemed to be
incorporated therein by reference untrue in any material respect or that requires the making of any changes in, or amendments or supplements to, such Registration Statement, Prospectus or documents so that, in the case of the Registration Statement
and the Prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made,
not misleading, (vi) of any reasonable determination by the Company or any Subsidiary Guarantor that a post-effective amendment to a Registration Statement would be appropriate and (vii) of any request by the SEC for amendments to the
Registration Statement or supplements to the Prospectus or for additional information relating thereto. 

  

	 	(f)	Use its commercially reasonable efforts to prevent the issuance of any order suspending the effectiveness of a Registration Statement or of any order preventing or
suspending the use of a Prospectus or suspending the qualification (or exemption from qualification) of any of the Entitled Securities or the Exchange Notes to be sold by any Participating Broker-Dealer, for sale in any jurisdiction, and, if any
such order is issued, to use its commercially reasonable efforts to obtain the withdrawal of any such order at the earliest possible date. 

  

	 	(g)	If (A) a Shelf Registration Statement is filed pursuant to Section 3, (B) a Prospectus contained in an Exchange Offer Registration Statement filed
pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period or (C) reasonably requested in writing by the managing
underwriters, if any, or the Holders of a majority in aggregate principal amount of the Entitled Securities being sold in connection with an underwritten offering, (i) promptly incorporate in a Prospectus supplement or post-effective amendment
such information or revisions to information therein relating to such underwriters or selling Holders as the managing underwriters, if any, or such Holders or any of their respective counsel reasonably request in writing to be included or made
therein and (ii) make all required filings of such Prospectus supplement or such post-effective amendment as soon as practicable after the Company has received notification of the matters to be incorporated in such Prospectus supplements or
post-effective amendment. 

  

	 	(h)	 Prior to any public offering of Entitled Securities or any delivery of a Prospectus contained in the Exchange Offer Registration Statement by any
Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, use its commercially reasonable efforts to register or qualify, and to cooperate with the selling Holders of Entitled Securities or each such Participating
Broker-Dealer, as the case may be, the underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption from such registration or qualification) of such Entitled Securities or Exchange Notes, as
the case may be, for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any selling Holder, Participating Broker-Dealer or any managing underwriter or underwriters, if any, reasonably request in
writing; provided, that where 

  
 12 

	 	
Exchange Notes held by Participating Broker-Dealers or Entitled Securities are offered other than through an underwritten offering, the Company and each Subsidiary Guarantor agree to cause its
counsel to perform Blue Sky investigations and file any registrations and qualifications required to be filed pursuant to this Section 5(h), use commercially reasonable efforts to keep each such registration or qualification (or exemption
therefrom) effective during the period such Registration Statement is required to be kept effective and do any and all other acts or things reasonably necessary or advisable to enable the disposition in such jurisdictions of the Exchange Notes held
by Participating Broker-Dealers or the Entitled Securities covered by the applicable Registration Statement; provided that neither the Company nor any Subsidiary Guarantor shall be required to (A) qualify generally to do business in any
jurisdiction where it is not then so qualified, (B) take any action that would subject it to general service of process in any such jurisdiction where it is not then so subject or (C) subject itself to taxation in any such jurisdiction
where it is not then so subject. 

  

	 	(i)	If (A) a Shelf Registration Statement is filed pursuant to Section 3 or (B) a Prospectus contained in an Exchange Offer Registration Statement filed
pursuant to Section 2 is requested to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, cooperate with the selling Holders of Entitled Securities and the
managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Entitled Securities to be sold, which certificates shall not bear any restrictive legends and shall be in a form eligible
for deposit with The Depository Trust Company, and enable such Entitled Securities to be in such denominations and registered in such names as the managing underwriter or underwriters, if any, or Holders may reasonably request.

  

	 	(j)	Use its commercially reasonable efforts to cause the Entitled Securities covered by any Registration Statement to be registered with or approved by such governmental
agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter, if any, to consummate the disposition of such Entitled Securities, except as may be required solely as a consequence of the nature of such
selling Holder’s business, in which case the Company shall (and shall cause each Subsidiary Guarantor to) cooperate in all reasonable respects with the filing of such Registration Statement and the granting of such approvals; provided
that neither the Company nor any existing Subsidiary Guarantor shall be required to (A) qualify generally to do business in any jurisdiction where it is not then so qualified, (B) take any action that would subject it to general
service of process in any jurisdiction where it is not then so subject or (C) subject itself to taxation in any such jurisdiction where it is not then so subject. 

 

	 	(k)	If (1) a Shelf Registration Statement is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Offer Registration Statement filed
pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, upon the occurrence of any event contemplated by paragraph 5(e)(v) or
5(e)(vi) hereof, as promptly as practicable, prepare and file with the SEC, at the expense of the Company and the Subsidiary Guarantors, a supplement or post-effective amendment to the Registration Statement or a supplement to the related Prospectus
or any document incorporated or deemed to be incorporated therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of the Entitled Securities being sold thereunder or to the purchasers of the
Exchange Notes to whom such Prospectus will be delivered by a Participating Broker-Dealer, such Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make
the statements therein, in light of the circumstances under which they were made, not misleading, and, if SEC review is required, use its commercially reasonable efforts to cause such post-effective amendment to be declared effective as soon as
possible. 

  
 13 

	 	(l)	Use its commercially reasonable efforts to cause the Entitled Securities covered by a Registration Statement to be rated with such appropriate rating agencies, if so
requested in writing by the Holders of a majority in aggregate principal amount of the Entitled Securities covered by such Registration Statement or the managing underwriter or underwriters, if any. 

 

	 	(m)	Prior to the initial issuance of the Exchange Notes, (i) provide the Trustee with one or more certificates for the Exchange Notes in a form eligible for deposit
with The Depository Trust Company and (ii) provide a CUSIP number for the Exchange Notes. 

  

	 	(n)	If a Shelf Registration Statement is filed pursuant to Section 3, enter into such agreements (including an underwriting agreement in form, scope and substance as
is customary in underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances) and take all such other actions in connection therewith (including those reasonably requested in writing by the managing
underwriters, if any, or the Holders of a majority in aggregate principal amount of the Entitled Securities being sold) in order to expedite or facilitate the registration or the disposition of such Entitled Securities. In such connection, if the
registration is an Underwritten Registration and an underwriting agreement is entered into in connection therewith (i) make such representations and warranties to the Holders and the underwriters, if any, with respect to the business of the
Company and its subsidiaries as then conducted, and the Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily made by
issuers to underwriters in underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances, and confirm the same if and when reasonably required; (ii) obtain an opinion of counsel to the Company and
the Subsidiary Guarantors and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the managing underwriters, if any, and the Holders of a majority in aggregate principal amount of the
Entitled Securities being sold), addressed to each selling Holder and each of the underwriters, if any, covering the matters customarily covered in opinions of counsel to the Company and the Subsidiary Guarantors requested in underwritten offerings
of debt securities similar to the Notes, as may be appropriate in the circumstances; (iii) obtain “cold comfort” letters and updates thereof (which letters and updates (in form, scope and substance) shall be reasonably satisfactory to
the managing underwriters, if any) from the independent certified public accountants of the Company and the Subsidiary Guarantors (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any
business acquired by the Company for which financial statements and financial data are, or are required to be, included in the Registration Statement), addressed to each of the underwriters, such letters to be in customary form and covering matters
of the type customarily covered in “cold comfort” letters in connection with underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances, and such other matters as reasonably requested in
writing by the underwriters; and (iv) deliver such documents and certificates as may be reasonably requested in writing by the Holders of a majority in aggregate principal amount of the Entitled Securities being sold and the managing
underwriters, if any, to evidence the continued validity of the representations and warranties of the Company and its subsidiaries made pursuant to clause (i) above and to evidence compliance with any conditions contained in the underwriting
agreement or other similar agreement entered into by the Company or any Subsidiary Guarantor. 

  
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	 	(o)	If (1) a Shelf Registration Statement is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Offer Registration Statement filed
pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, make available for inspection by any selling Holder of such Entitled
Securities being sold, or each such Participating Broker-Dealer, as the case may be, any underwriter participating in any such disposition of Entitled Securities, if any, and any attorney, accountant or other agent retained by any such selling
Holder or each such Participating Broker-Dealer, as the case may be, or underwriter (collectively, the “Inspectors”), at the offices where normally kept, during normal business hours, all financial and other records and pertinent
corporate documents of the Company and its subsidiaries (collectively, the “Records”) as shall be reasonably necessary to enable them to exercise any applicable due diligence responsibilities, and cause the officers, directors and
employees of the Company and its subsidiaries to supply all information reasonably requested in writing by any such Inspector in connection with such Registration Statement. Each Inspector shall agree in writing that it will keep the Records
confidential and not disclose any of the Records unless (i) the disclosure of such Records is necessary to avoid or correct a misstatement or omission in such Registration Statement, (ii) the release of such Records is ordered pursuant to
a subpoena or other order from a court of competent jurisdiction, (iii) the information in such Records is public or has been made generally available to the public other than as a result of a disclosure or failure to safeguard by such
Inspector or (iv) disclosure of such information is, in the reasonable written opinion of counsel for any Inspector, necessary or advisable in connection with any action, claim, suit or proceeding, directly or indirectly, involving or
potentially involving such Inspector and arising out of, based upon, related to, or involving this Agreement, or any transaction contemplated hereby or arising hereunder. Each selling Holder of such Entitled Securities and each such Participating
Broker-Dealer will be required to agree that information obtained by it as a result of such inspections shall be deemed confidential and shall not be used by it as the basis for any market transactions in the securities of the Company unless and
until such is made generally available to the public. Each Inspector, each selling Holder of such Entitled Securities and each such Participating Broker-Dealer will be required to further agree that it will, upon learning that disclosure of such
Records is sought in a court of competent jurisdiction, give notice to the Company and, to the extent practicable, use its commercially reasonable efforts to allow the Company, at its expense, to undertake appropriate action to prevent disclosure of
the Records deemed confidential at its expense. 

  

	 	(p)	Comply with all applicable rules and regulations of the SEC and make generally available to the security holders of the Company with regard to any applicable
Registration Statement earning statements satisfying the provisions of section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 45 days after the end of any 12-month period
(or 90 days after the end of any 12-month period if such period is a fiscal year) (i) commencing at the end of any fiscal quarter in which Entitled Securities are sold to underwriters in a firm commitment or best efforts underwritten offering
and (ii) if not sold to underwriters in such an offering, commencing on the first day of the first fiscal quarter of the Company after the effective date of a Registration Statement, which statements shall cover said 12-month periods.

  

	 	(q)	 Upon consummation of an Exchange Offer, obtain an opinion of counsel to the Company and the Subsidiary Guarantors (in form, scope and substance
reasonably satisfactory to the Initial Purchasers), addressed to the Trustee for the benefit of all Holders participating in the Exchange Offer to the effect that (i) the Company and the Subsidiary Guarantors have duly authorized, executed and
delivered the Exchange Notes and the Original Indenture and (ii) the Exchange Notes and the Original Indenture constitute legal, valid and binding 

  
 15 

	 	
obligations of the Company and the Subsidiary Guarantors, enforceable against the Company and the Subsidiary Guarantors in accordance with their respective terms, except as such enforcement may
be subject to customary United States and foreign exceptions. Upon the request of a Holder, upon consummation of an Exchange Offer, if the obligations of the Company and the Subsidiary Guarantors under the Exchange Notes and the Original Indenture
are secured by Liens (as defined in the Original Indenture) on assets of the Company and the Subsidiary Guarantors, obtain an opinion of counsel to the Company and the Subsidiary Guarantors (in form, scope and substance reasonably satisfactory to
the Initial Purchasers), addressed to the Trustee for the benefit of all Holders participating in the Exchange Offer in a form customary for underwritten transactions, subject to customary exceptions and qualifications, with respect to such security
interests. 

  

	 	(r)	If the Exchange Offer is to be consummated, upon delivery of the Entitled Securities by the Holders to the Company and the Subsidiary Guarantors (or to such other
Person as directed by the Company and the Subsidiary Guarantors) in exchange for the Exchange Notes, the Company and the Subsidiary Guarantors shall mark, or caused to be marked, on such Entitled Securities that the Exchange Notes are being issued
as substitute evidence of the indebtedness originally evidenced by the Entitled Securities; provided that in no event shall such Entitled Securities be marked as paid or otherwise satisfied. 

 

	 	(s)	Cooperate with each seller of Entitled Securities covered by any Registration Statement and each underwriter, if any, participating in the disposition of such Entitled
Securities and their respective counsel in connection with any filings required to be made with FINRA. 

  

	 	(t)	Use its commercially reasonable efforts to cause all Securities covered by a Registration Statement to be listed on each securities exchange, if any, on which similar
debt securities issued by the Company are then listed. 

  

	 	(u)	Use its commercially reasonable efforts to take all other steps reasonably necessary to effect the registration of the Entitled Securities covered by a Registration
Statement contemplated hereby. 

  

	 	(v)	The Company may require each seller of Entitled Securities or Participating Broker-Dealer as to which any registration is being effected to furnish to the Company such
information regarding such seller or Participating Broker-Dealer and the distribution of such Entitled Securities as the Company may, from time to time, reasonably request in writing. The Company may exclude from such registration the Entitled
Securities of any seller who fails to furnish such information within a reasonable time (which time in no event shall exceed 45 days, subject to Section 3(d) hereof) after receiving such request. Each seller of Entitled Securities or
Participating Broker-Dealer as to which any registration is being effected agrees to furnish promptly to the Company all information required to be disclosed in order to make the information previously furnished by such seller not materially
misleading. 

  

	 	(w)	 Each Holder of Entitled Securities and each Participating Broker-Dealer agrees by acquisition of such Entitled Securities or Exchange Notes to be sold
by such Participating Broker-Dealer, as the case may be, that, upon receipt of any notice from the Company of the happening of any event of the kind described in 5(e)(ii), 5(e)(iv), 5(e)(v), or 5(e)(vi), such Holder will forthwith discontinue
disposition of such Entitled Securities covered by a Registration Statement and such Participating Broker-Dealer will forthwith discontinue disposition of such Exchange Notes pursuant to any Prospectus and, in each case, forthwith discontinue
dissemination of such Prospectus until such Holder’s or Participating Broker-

  
 16 

	 	
Dealer’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 5(k), or until it is advised in writing (the “Advice”) by the Company
and the Subsidiary Guarantors that the use of the applicable Prospectus may be resumed, and has received copies of any amendments or supplements thereto and, if so directed by the Company and the Subsidiary Guarantors, such Holder or Participating
Broker-Dealer, as the case may be, will deliver to the Company all copies, other than permanent file copies, then in such Holder’s or Participating Broker-Dealer’s possession, of the Prospectus covering such Entitled Securities current at
the time of the receipt of such notice. In the event the Company and the Subsidiary Guarantors shall give any such notice, the Applicable Period shall be extended by the number of days during such periods from and including the date of the giving of
such notice to and including the date when each Participating Broker-Dealer shall have received (x) the copies of the supplemented or amended Prospectus contemplated by Section 5(k) or (y) the Advice. 

 

	6.	Registration Expenses 

  

	 	(a)	 All fees and expenses incident to the performance of or compliance with this Agreement by the Company and the Subsidiary Guarantors shall be borne by
the Company and the Subsidiary Guarantors, whether or not the Exchange Offer or a Shelf Registration Statement is filed or becomes effective, including, without limitation, (i) all registration and filing fees, including, without limitation,
(A) fees with respect to filings required to be made with FINRA in connection with any underwritten offering and (B) fees and expenses of compliance with state securities or Blue Sky laws as provided in 5(h) hereof (including, without
limitation, reasonable fees and disbursements of counsel in connection with Blue Sky qualifications of the Entitled Securities or Exchange Notes and determination of the eligibility of the Entitled Securities or Exchange Notes for investment under
the laws of such jurisdictions (x) where the Holders are located, in the case of the Exchange Notes, or (y) as provided in Section 5(h), in the case of Entitled Securities or Exchange Notes to be sold by a Participating Broker-Dealer
during the Applicable Period)), (ii) printing expenses, including, without limitation, expenses of printing Prospectuses if the printing of Prospectuses is requested by the managing underwriter or underwriters, if any, or by the Holders of a
majority in aggregate principal amount of the Entitled Securities included in any Registration Statement or by any Participating Broker-Dealer during the Applicable Period, as the case may be, (iii) messenger, telephone and delivery expenses
incurred in connection with the performance of their obligations hereunder, (iv) fees and disbursements of counsel for the Company, the Subsidiary Guarantors and, subject to 6(b), the Holders, (v) fees and disbursements of all independent
certified public accountants referred to in Section 5 (including, without limitation, the expenses of any special audit and “cold comfort” letters required by or incident to such performance), (vi) rating agency fees and the fees
and expenses incurred in connection with the listing of the Securities to be registered on any securities exchange, (vii) Securities Act liability insurance, if the Company and the Subsidiary Guarantors desire such insurance, (viii) fees
and expenses of all other Persons retained by the Company and the Subsidiary Guarantors, (ix) fees and expenses of any “qualified independent underwriter” or other independent appraiser participating in an offering pursuant to
Section 3 of Schedule E to the By-laws of FINRA, but only where the need for such a “qualified independent underwriter” arises due to a relationship with the Company and the Subsidiary Guarantors, (x) internal expenses of the
Company and the Subsidiary Guarantors (including, without limitation, all salaries and expenses of officers and employees of the Company or the Subsidiary Guarantors performing legal or accounting duties), (xi) the expense of any annual audit,
(xii) the fees and expenses of the Trustee and the exchange agent and (xiii) the expenses relating to printing, word processing and distributing all Registration Statements, underwriting agreements, securities sales agreements, indentures

  
 17 

	 	
and any other documents necessary in order to comply with this Agreement. Notwithstanding the foregoing, but subject to Section 6(b), the Holders of the Entitled Securities being registered
shall pay all agency fees and commissions and underwriting discounts and commissions attributable to the sale of such Entitled Securities and the fees and disbursements of any counsel or other advisors or experts retained by such holders (severally
or jointly), other than the counsel and experts specifically referred to herein. 

  

	 	(b)	The Company and the Subsidiary Guarantors shall reimburse the Holders for the reasonable fees and disbursements of not more than one counsel chosen by the Holders of a
majority in aggregate principal amount of the Entitled Securities to be included in any Shelf Registration Statement. The Company and the Subsidiary Guarantors shall pay all documentary, stamp, transfer or other transactional taxes attributable to
the issuance or delivery of the Exchange Notes in exchange for the Notes; provided that the Company shall not be required to pay taxes payable in respect of any transfer involved in the issuance or delivery of any Exchange Note in a name
other than that of the Holder of the Note in respect of which such Exchange Note is being issued. The Company and the Subsidiary Guarantors shall reimburse the Holders for fees and expenses (including reasonable fees and expenses of counsel to the
Holders) relating to any enforcement of any rights of the Holders under this Agreement. 

  

	7.	Indemnification 

  

	 	(a)	Indemnification by the Company and the Subsidiary Guarantors. The Company and the Subsidiary Guarantors jointly and severally agree to indemnify and hold
harmless each Holder of Entitled Securities, Exchange Notes and each Participating Broker-Dealer selling Exchange Notes during the Applicable Period, each Person, if any, who controls each such Holder (within the meaning of Section 15 of the
Securities Act or Section 20(a) of the Exchange Act) and the officers, directors and partners of each such Holder, Participating Broker-Dealer and controlling person, to the fullest extent lawful, from and against any and all losses, claims,
damages, liabilities, costs (including, without limitation, reasonable costs of preparation and reasonable attorneys’ fees as provided in this Section 7) and expenses (including, without limitation, reasonable costs and expenses incurred
in connection with investigating, preparing, pursuing or defending against any of the foregoing) (collectively, “Losses”), as incurred, directly or indirectly caused by, related to, based upon, arising out of or in connection with
any untrue or alleged untrue statement of a material fact contained in any Registration Statement, Prospectus or form of prospectus, or in any amendment or supplement thereto, or in any preliminary prospectus, or any omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, except insofar as such Losses are solely based upon information
relating to such Holder or Participating Broker-Dealer and furnished in writing to the Company and the Subsidiary Guarantors by such Holder or Participating Broker-Dealer or their counsel expressly for use therein. The Company and the Subsidiary
Guarantors also agree to indemnify underwriters, selling brokers, dealer managers and similar securities industry professionals participating in the distribution of Exchange Notes and Entitled Securities, their officers, directors, agents and
employees and each Person who controls such Persons (within the meaning of Section 5 of the Securities Act or Section 20(a) of the Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders of the
Participating Broker-Dealer. 

  
 18 

	 	(b)	Indemnification by Holders. In connection with any Registration Statement, Prospectus or form of prospectus, any amendment or supplement thereto, or any
preliminary prospectus in which a Holder is participating, such Holder shall furnish to the Company and the Subsidiary Guarantors in writing such information as the Company and the Subsidiary Guarantors reasonably request for use in connection with
any Registration Statement, Prospectus or form of prospectus, any amendment or supplement thereto, or any preliminary prospectus and shall indemnify and hold harmless the Company, the Subsidiary Guarantors, their respective directors and each
Person, if any, who controls the Company and the Subsidiary Guarantors (within the meaning of Section 15 of the Securities Act and Section 20(a) of the Exchange Act), and the directors, officers and partners of such controlling persons, to
the fullest extent lawful, from and against all Losses arising out of or based upon any untrue or alleged untrue statement of a material fact contained in any Registration Statement, Prospectus or form of prospectus or in any amendment or supplement
thereto or in any preliminary prospectus, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading to the extent, but only to the extent, that such losses are finally judicially determined by a court of competent jurisdiction in a final, unappealable order to have resulted solely from an untrue statement or alleged untrue statement
of a material fact or omission or alleged omission of a material fact contained in or omitted from any information so furnished in writing by such Holder to the Company and the Subsidiary Guarantors expressly for use therein. Notwithstanding the
foregoing, in no event shall the liability of any selling Holder be greater in amount than such Holder’s Maximum Contribution Amount (as defined below). 

 

	 	(c)	Conduct of Indemnification Proceedings. If any proceeding shall be brought or asserted against any Person entitled to indemnity hereunder (an
“Indemnified Party”), such Indemnified Party shall promptly notify the party or parties from which such indemnity is sought (the “Indemnifying Party” or “Indemnifying Parties”, as applicable) in
writing; but the omission to so notify the Indemnifying Party (i) will not relieve such Indemnifying Party from any liability under paragraph (a) or (b) above unless and only to the extent it is materially prejudiced as a result
thereof and (ii) will not, in any event, relieve the Indemnifying Party from any obligations to any Indemnified Party other than the indemnification obligation provided in paragraphs (a) and (b) above. 

The Indemnifying Party shall have the right, exercisable by giving written notice to an Indemnified Party, within 20 Business Days after
receipt of written notice from such Indemnified Party of such proceeding, to assume, at its expense, the defense of any such proceeding; provided, that an Indemnified Party shall have the right to employ separate counsel in any such
proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party or parties unless: (1) the Indemnifying Party has agreed to pay such fees and expenses; or
(2) the Indemnifying Party shall have failed promptly to assume the defense of such proceeding or shall have failed to employ counsel reasonably satisfactory to such Indemnified Party; or (3) the named parties to any such proceeding
(including any impleaded parties) include both such Indemnified Party and the Indemnifying Party or any of its affiliates or controlling persons, and such Indemnified Party shall have been advised by counsel that there may be one or more defenses
available to such Indemnified Party that are in addition to, or in conflict with, those defenses available to the Indemnifying Party or such affiliate or controlling person (in which case, if such Indemnified Party notifies the Indemnifying Parties
in writing that it elects to employ separate counsel at the expense of the Indemnifying Parties, the Indemnifying Parties shall not have the right to assume the defense and the reasonable fees and expenses of such counsel shall be at the expense of
the Indemnifying Party; it being understood, however, that, the Indemnifying Party shall not, in connection with any one such proceeding or separate but substantially similar or related proceedings in the same jurisdiction, arising out of the same
general allegations or circumstances, be liable for the fees and expenses of more than one separate firm of attorneys (together with appropriate local counsel) at any time for such Indemnified Party). 

  
 19 

 No Indemnifying Party shall be liable for any settlement of any such proceeding effected
without its written consent, which shall not be unreasonably withheld, but if settled with its written consent, or if there be a final judgment for the plaintiff in any such proceeding, each Indemnifying Party jointly and severally agrees, subject
to the exceptions and limitations set forth above, to indemnify and hold harmless each Indemnified Party from and against any and all Losses by reason of such settlement or judgment. The Indemnifying Party shall not consent to the entry of any
judgment or enter into any settlement unless such judgment or settlement (i) includes as an unconditional term thereof the giving by the claimant or plaintiff to each Indemnified Party of a release, in form and substance reasonably satisfactory
to the Indemnified Party, from all liability in respect of such proceeding for which such Indemnified Party would be entitled to indemnification hereunder (whether or not any Indemnified Party is a party thereto) and (ii) does not include a
statement as to or an admission of fault, culpability or a failure to act by or on behalf of any Indemnified Party. 
  

	 	(d)	Contribution. If the indemnification provided for in this Section 7 is unavailable to an Indemnified Party or is insufficient to hold such Indemnified Party
harmless for any Losses in respect of which this Section 7 would otherwise apply by its terms (other than by reason of exceptions provided in this Section 7), then each applicable Indemnifying Party, in lieu of indemnifying such
Indemnified Party, shall have a joint and several obligation to contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative fault of the Indemnifying
Party, on the one hand, and such Indemnified Party, on the other hand, in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. The relative fault of such
Indemnifying Party, on the one hand, and Indemnified Party, on the other hand, shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a
material fact relates to information supplied by such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent any such statement or omission. The amount
paid or payable by an Indemnified Party as a result of any Losses shall be deemed to include any legal or other fees or expenses incurred by such party in connection with any proceeding, to the extent such party would have been indemnified for such
fees or expenses if the indemnification provided for in Section 7(a) or 7(b) was available to such party. 

The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 7(d) were determined by
pro rata allocation or by other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 7(d), a selling Holder shall not
be required to contribute, in the aggregate, any amount in excess of such Holder’s Maximum Contribution Amount. A selling Holder’s “Maximum Contribution Amount” shall equal the excess of (i) the aggregate proceeds
received by such Holder pursuant to the sale of such Entitled Securities or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentation. The Holders’ obligations to contribute pursuant to this Section 7(d) are several in proportion to the respective principal amount of the Entitled Securities held by each Holder hereunder and not joint. The Company’s
and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 7(d) are joint and several. 
 The
indemnity and contribution agreements contained in this Section 7 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties. 

  
 20 

	8.	Rules 144 and 144A 

  

	 	(a)	The Company covenants that it shall, for as long as any Entitled Securities remain outstanding, (a) file the reports required to be filed by it (if so required)
under the Securities Act and the Exchange Act in a timely manner and, if at any time the Company is not required to file such reports, it will, upon the written request of any Holder of Entitled Securities, make publicly available other information
necessary to permit sales pursuant to Rule 144 and 144A and (b) take such further action as any Holder may reasonably request in writing, all to the extent required from time to time to enable such Holder to sell Entitled Securities without
registration under the Securities Act pursuant to the exemptions provided by Rule 144 and Rule 144A. Upon the request of any Holder, the Company shall deliver to such Holder a written statement as to whether it has complied with such information and
requirements. 

  

	 	(b)	Availability of Rule 144 Not Excuse for Obligations under Section 2. The fact that holders of Entitled Securities may become eligible to sell such Entitled
Securities pursuant to Rule 144 shall not (1) cause such Notes to cease to be Entitled Securities or (2) excuse the Company’s and the Subsidiary Guarantors’ obligations set forth in Section 2 of this Agreement, including
without limitation the obligations in respect of an Exchange Offer, Shelf Registration Statement and Special Interest. 

  

	9.	Underwritten Registrations of Entitled Securities 

 If any of the Entitled Securities covered by any Shelf Registration Statement are to be sold in an Underwritten Offering, the investment banker or investment bankers and manager or managers that will
manage the offering will be selected by the Holders of a majority in aggregate principal amount of such Entitled Securities included in such Underwritten Offering; provided, however, that such investment banker or investment bankers
and manager or managers must be reasonably acceptable to the Company. 
 No Holder of Entitled Securities may participate in any
underwritten registration hereunder unless such Holder (a) agrees to sell such Holder’s Entitled Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and
(b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 

 

	10.	Miscellaneous 

  

	 	(a)	Remedies. In the event of a breach by either the Company or any of the Subsidiary Guarantors of any of their respective obligations under this Agreement, each
Holder, in addition to being entitled to exercise all rights provided herein, in the Original Indenture or the Indenture, as applicable, or, in the case of the Initial Purchasers, in the Purchase Agreement, or granted by law, including recovery of
damages, will be entitled to seek specific performance of its rights under this Agreement. The Company and the Subsidiary Guarantors agree that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by either
the Company or any of the Subsidiary Guarantors of any of the provisions of this Agreement and hereby further agree that, in the event of any action for specific performance in respect of such breach, the Company shall (and shall cause each
Subsidiary Guarantor to) waive the defense that a remedy at law would be adequate. 

  
 21 

	 	(b)	No Inconsistent Agreements. The Company and each of the Subsidiary Guarantors have not entered, as of the date hereof, and the Company and each of the Subsidiary
Guarantors shall not enter, after the date of this Agreement, into any agreement with respect to any of its securities that is inconsistent with the rights granted to the Holders of Securities in this Agreement or otherwise conflicts with the
provisions hereof. The Company and each of the Subsidiary Guarantors have not entered and will not enter into any agreement with respect to any of its securities that will grant to any Person piggy-back rights with respect to a Registration
Statement. 

  

	 	(c)	Adjustments Affecting Entitled Securities. The Company shall not, directly or indirectly, take any action with respect to the Entitled Securities as a class that
would adversely affect the ability of the Holders to include such Entitled Securities in a registration undertaken pursuant to this Agreement. 

  

	 	(d)	Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents to departures from the provisions
hereof may not be given, otherwise than with the prior written consent of the Holders of not less than a majority in aggregate principal amount of the then outstanding Entitled Securities in circumstances that would adversely affect any Holders of
Entitled Securities; provided, however, that Section 7 and this Section 10(d) may not be amended, modified or supplemented without the prior written consent of each Holder. Notwithstanding the foregoing, a waiver or consent
to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders of Entitled Securities whose securities are being tendered pursuant to the Exchange Offer or sold pursuant to a Registration Statement
and that does not directly or indirectly affect, impair, limit or compromise the rights of other Holders of Entitled Securities may be given by Holders of at least a majority in aggregate principal amount of the Entitled Securities being tendered or
being sold by such Holders pursuant to such Registration Statement. 

  

	 	(e)	Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand delivery, registered first-class mail,
next-day air courier or telecopier: 

  

	 	(i)	if to a Holder of Securities or to any Participating Broker-Dealer, at the most current address of such Holder or Participating Broker-Dealer, as the case may be, set
forth on the records of the registrar of the Notes, with a copy in like manner to the Initial Purchasers as follows: 

 Credit Suisse Securities (USA) LLC 
 Eleven Madison Avenue 

New York, New York 10010 
 Attention: General Counsel 
 with a copy to: 

Latham & Watkins LLP 
 811 Main Street, Suite 3700 
 Houston, Texas 77002 

Attention: Ryan Maierson, Esq. 
  

	 	(ii)	if to the Initial Purchasers, at the address specified in Section 10(e)(1); 

  
 22 

	 	(iii)	if to the Company or any Subsidiary Guarantor, as follows: 

 EPL Oil & Gas, Inc. 
 201 St. Charles Avenue, Suite 3400 

New Orleans, Louisiana 70170 
 Attention: Chief Financial Officer 
 with a copy to: 

Sidley Austin LLP 
 600 Travis Street, Suite 3100 
 Houston, Texas 77002 

Attention: J. Mark Metts, Esq. 
 All such notices and communications shall be deemed to have been duly given: when delivered by hand, if personally delivered; five Business Days after being deposited in the United States mail, postage
prepaid, if mailed, one Business Day after being deposited in the United States mail, postage prepaid, if mailed; one Business Day after being timely delivered to a next-day air courier guaranteeing overnight delivery; and when receipt is
acknowledged by the addressee, if telecopied. 
 Copies of all such notices, demands or other communications shall be
concurrently delivered by the Person giving the same to the Trustee under the Indenture at the address specified in such Indenture. 
  

	 	(f)	Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties hereto, including,
without limitation and without the need for an express assignment, subsequent Holders of Securities. 

  

	 	(g)	Counterparts. This Agreement may be executed in any number of counterparts and by the 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. 

  

	 	(h)	Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

  

	 	(i)	 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO
PRINCIPLES OF CONFLICT OF LAW. THE COMPANY HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK OR ANY FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF
NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, AND IRREVOCABLY ACCEPTS FOR ITS AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, JURISDICTION OF THE AFORESAID COURTS. THE COMPANY
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE LAW, TRIAL BY JURY AND ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND
ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. THE COMPANY IRREVOCABLY CONSENTS, TO THE FULLEST EXTENT IT MAY EFFECTIVELY

  
 23 

	 	
DO SO UNDER APPLICABLE LAW, TO THE SERVICE OF PROCESS OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL,
POSTAGE PREPAID, TO THE COMPANY AT ITS SAID ADDRESS, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY HOLDER TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL
PROCEEDINGS OR OTHERWISE PROCEED AGAINST THE COMPANY IN ANY OTHER JURISDICTION. 

  

	 	(j)	Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or
unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the
parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

 

	 	(k)	Securities Held by the Company or Its Affiliates. Whenever the consent or approval of Holders of a specified percentage of Securities is required hereunder,
Securities held by the Company or its affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage.

  

	 	(l)	Third Party Beneficiaries. Holders and Participating Broker-Dealers are intended third party beneficiaries of this Agreement and this Agreement may be enforced
by such Persons. 

  

	 	(m)	Entire Agreement. This Agreement, together with the Purchase Agreement and the Indenture, is intended by the parties as a final and exclusive statement of the
agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein and any and all prior oral or written agreements, representations, or warranties, contracts, understanding, correspondence, conversations
and memoranda between the Initial Purchasers on the one hand and the Company and the Subsidiary Guarantors on the other, or between or among any agents, representatives, parents, subsidiaries, affiliates, predecessors in interest or successors in
interest with respect to the subject matter hereof and thereof are merged herein and replaced hereby. 

  
 24 

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

			
	EPL OIL & GAS, INC.
		
	By:	 	/s/ David Cedro
		 	Name: David Cedro
		 	Title: Senior Vice President, Chief Accounting Officer, Treasurer and Corporate Secretary
	
	EPL PIPELINE, L.L.C, as Subsidiary Guarantor
		
	By:	 	/s/ David Cedro
		 	Name: David Cedro
		 	Title: Senior Vice President, Chief Accounting Officer, Treasurer and Corporate Secretary
	
	DELAWARE EPL OF TEXAS, LLC, as Subsidiary Guarantor
		
	By:	 	/s/ Tiffany J. Thom
		 	Name: Tiffany J. Thom
		 	Title: President
	
	EPL PIONEER HOUSTON, INC., as Subsidiary Guarantor
		
	By:	 	/s/ David Cedro
		 	Name: David Cedro
		 	Title: Senior Vice President, Chief Accounting Officer, Treasurer and Corporate Secretary
	
	EPL OF LOUISIANA, L.L.C., as Subsidiary Guarantor
		
	By:	 	/s/ David Cedro
		 	Name: David Cedro
		 	Title: Senior Vice President, Chief Accounting Officer, Treasurer and Corporate Secretary

 [Signature Page to Registration Rights Agreement] 

 
			
	ANGLO-SUISSE OFFSHORE PIPELINE PARTNERS, LLC, as Subsidiary Guarantor
		
	By:	 	/s/ David Cedro
		 	Name: David Cedro
		 	Title: Senior Vice President, Chief Accounting Officer, Treasurer and Corporate Secretary

 [Signature Page to Registration Rights Agreement] 

			
	ACCEPTED AND AGREED TO:
	
	CREDIT SUISSE SECURITIES (USA) LLC
		
	By:	 	/s/ David S. Alterman
	Name:	 	David S. Alterman
	Title:	 	Managing Director
	
	BMO CAPITAL MARKETS CORP.
		
	By:	 	/s/ Thomas D. Dale
	Name:	 	Thomas D. Dale
	Title:	 	Managing Director
	
	JEFFERIES & COMPANY, INC.
		
	By:	 	/s/ Stephen Straty
	Name:	 	Stephen Straty
	Title:	 	Managing Director

 [Signature Page to Registration Rights Agreement] 

 SCHEDULE I 

INITIAL PURCHASERS 

Credit Suisse Securities (USA) LLC 
 BMO
Capital Markets Corp. 
 Jefferies & Company, Inc. 
 Capital One Southcoast, Inc. 
 KeyBanc Capital Markets Inc. 

Natixis Securities Americas LLC 
 Scotia
Capital (USA) Inc. 
 IBERIA Capital Partners L.L.C. 
 ING Financial Markets LLC 
 Global Hunter Securities LLC 

Johnson Rice & Company L.L.C. 

Dahlman Rose & Company LLC 
 Brean
Capital, LLC 
 KLR Group LLCAmendment and Restatement Employee Change in Control Severance Plan

 Exhibit 10.1 
 CONOCOPHILLIPS 
 KEY EMPLOYEE CHANGE IN CONTROL SEVERANCE PLAN

 (Amended and Restated Effective as of the Effective Time) 
 The ConocoPhillips Key Employee Change in Control Severance Plan (the “Plan”) is hereby amended and restated effective as of the “Effective Time” defined in the Employee Matters
Agreement by and between ConocoPhillips and Phillips 66 (the “Effective Time”). 
 Effective October 1, 2004, the Company adopted
this Plan for the benefit of certain employees of the Company and its Subsidiaries. This Plan was previously amended and restated effective December 31, 2008. Any Eligible Employee (as defined below) having a Severance Date (as defined below)
prior to the Effective Time shall have benefits under this Plan determined in accordance with the provisions of this Plan as they existed prior to this amendment and restatement. Any Eligible Employee (as defined below) having a Severance Date (as
defined below) on or after the Effective Time shall have benefits under this Plan determined in accordance with the provisions of this Plan pursuant to this amendment and restatement. 
 All capitalized terms used herein are defined in Section 1 hereof. This Plan is intended to be a plan maintained primarily for the purpose of providing deferred compensation for a select group of
management or highly compensated employees, within the meaning of Title I of the Employee Retirement Income Security Act of 1974, as amended and shall be interpreted in a manner consistent with such intention. 

SECTION 1. DEFINITIONS. As hereinafter used: 
 1.1 “Affiliate” has the meaning ascribed to such term in Rule 12b-2 of the General Rules and Regulations under the Exchange Act, as in effect on the Effective Date. 

1.2 “Associate” means, with reference to any Person, (a) any corporation, firm, partnership, association, unincorporated organization, or
other entity (other than the Company or a Subsidiary of the Company) of which such Person is an officer or general partner (or officer or general partner of a general partner) or is, directly or indirectly, the Beneficial Owner of 10% or more of any
class of equity securities, (b) any trust or other estate in which such Person has a substantial beneficial interest or as to which such Person serves as trustee or in a similar fiduciary capacity, and (c) any relative or spouse of such
Person, or any relative of such spouse, who has the same home as such Person. 
 1.3 “Beneficial Owner” means, with reference to any
securities, any Person if: 
 (a) such Person or any of such Person’s Affiliates and Associates, directly or
indirectly, is the “beneficial owner” of (as determined pursuant to Rule 13d-3 of the General Rules and Regulations under the Exchange Act, as in effect on the Effective Date) such securities or otherwise has the right to vote or
dispose of such securities, including pursuant 

  
 1 

 Exhibit 10.1 

 

 
to any agreement, arrangement, or understanding (whether or not in writing); provided, however, that a Person shall not be deemed the “Beneficial Owner” of, or to “beneficially
own,” any security under this subsection (a) as a result of an agreement, arrangement, or understanding to vote such security if such agreement, arrangement, or understanding: (i) arises solely from a revocable proxy or consent given
in response to a public (i.e., not including a solicitation exempted by Rule 14a-2(b)(2) of the General Rules and Regulations under the Exchange Act) proxy or consent solicitation made pursuant to, and in accordance with, the applicable
provisions of the General Rules and Regulations under the Exchange Act, and (ii) is not then reportable by such Person on Schedule 13D under the Exchange Act (or any comparable or successor report); 

(b) such Person or any of such Person’s Affiliates and Associates, directly or indirectly, has the right or
obligation to acquire such securities (whether such right or obligation is exercisable or effective immediately or only after the passage of time or the occurrence of an event) pursuant to any agreement, arrangement, or understanding (whether or not
in writing) or upon the exercise of conversion rights, exchange rights, other rights, warrants, or options, or otherwise; provided, however, that a Person shall not be deemed the Beneficial Owner of, or to “beneficially own,”
(i) securities tendered pursuant to a tender or exchange offer made by such Person or any of such Person’s Affiliates or Associates until such tendered securities are accepted for purchase or exchange or (ii) securities issuable upon
exercise of Exempt Rights; or 
 (c) such Person or any of such Person’s Affiliates or Associates
(i) has any agreement, arrangement, or understanding (whether or not in writing) with any other Person (or any Affiliate or Associate thereof) that beneficially owns such securities for the purpose of acquiring, holding, voting (except as set
forth in the proviso to subsection (a) of this definition), or disposing of such securities or (ii) is a member of a group (as that term is used in Rule 13d-5(b) of the General Rules and Regulations under the Exchange Act) that
includes any other Person that beneficially owns such securities; 
 provided, however, that nothing in this definition shall cause a Person
engaged in business as an underwriter of securities to be the Beneficial Owner of, or to “beneficially own,” any securities acquired through such Person’s participation in good faith in a firm commitment underwriting until the
expiration of 40 days after the date of such acquisition. For purposes hereof, “voting” a security shall include voting, granting a proxy, consenting or making a request or demand relating to corporate action (including, without
limitation, a demand for a stockholder list, to call a stockholder meeting or to inspect corporate books and records), or otherwise giving an authorization (within the meaning of Section 14(a) of the Exchange Act) in respect of such security.

 The terms “beneficially own” and “beneficially owning” have meanings that are correlative to this
definition of the term “Beneficial Owner.” 
 1.4 “Board” means the Board of Directors of the Company. 

1.5 “Cause” means (i) the willful and continued failure by the Eligible Employee to substantially perform the Eligible Employee’s
duties with the Employer (other than any such failure resulting 

  
 2 

 Exhibit 10.1 

 

 
from the Eligible Employee’s incapacity due to physical or mental illness), or (ii) the willful engaging, not in good faith, by the Eligible Employee in conduct which is demonstrably
injurious to the Company or any of its Subsidiaries, monetarily or otherwise. 
 1.6 “Change in Control” means any of the following
occurring on or after the Effective Date: 
 (a) any Person (other than an Exempt Person) shall become the
Beneficial Owner of 20% or more of the shares of Common Stock then outstanding or 20% or more of the combined voting power of the Voting Stock of the Company then outstanding; provided, however, that no Change of Control shall be deemed to occur for
purposes of this subsection (a) if such Person shall become a Beneficial Owner of 20% or more of the shares of Common Stock or 20% or more of the combined voting power of the Voting Stock of the Company solely as a result of (i) an Exempt
Transaction or (ii) an acquisition by a Person pursuant to a reorganization, merger or consolidation, if, following such reorganization, merger or consolidation, the conditions described in clauses (i), (ii) and (iii) of
subsection (c) of this definition are satisfied; 
 (b) individuals who, as of the Effective Date,
constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the Effective Date, whose election, or nomination
for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board; provided,
further, that there shall be excluded, for this purpose, any such individual whose initial assumption of office occurs as a result of any actual or threatened Election Contest that is subject to the provisions of Rule 14a-11 of the General
Rules and Regulations under the Exchange Act; 
 (c) the Company shall consummate a reorganization, merger, or
consolidation, in each case, unless, following such reorganization, merger, or consolidation, (i) 50% or more of the then outstanding shares of common stock of the corporation resulting from such reorganization, merger, or consolidation and the
combined voting power of the then outstanding Voting Stock of such corporation are beneficially owned, directly or indirectly, by all or substantially all of the Persons who were the Beneficial Owners of the outstanding Common Stock immediately
prior to such reorganization, merger, or consolidation in substantially the same proportions as their ownership, immediately prior to such reorganization, merger, or consolidation, of the outstanding Common Stock, (ii) no Person (excluding any
Exempt Person or any Person beneficially owning, immediately prior to such reorganization, merger, or consolidation, directly or indirectly, 20% or more of the Common Stock then outstanding or 20% or more of the combined voting power of the Voting
Stock of the Company then outstanding) beneficially owns, directly or indirectly, 20% or more of the then outstanding shares of common stock of the corporation resulting from such reorganization, merger, or consolidation or the combined voting power
of the then outstanding Voting Stock of such corporation, and (iii) at least a majority of the members of the board of directors of the corporation resulting from such reorganization, merger, or consolidation were members of the Incumbent Board
at the time of the initial agreement or initial action by the Board providing for such reorganization, merger, or consolidation; or 

  
 3 

 Exhibit 10.1 

 

 (d) (i) the shareholders of the Company shall approve a complete
liquidation or dissolution of the Company unless such liquidation or dissolution is approved as part of a plan of liquidation and dissolution involving a sale or disposition of all or substantially all of the assets of the Company to a corporation
with respect to which, following such sale or other disposition, all of the requirements of clauses (ii)(A), (B), and (C) of this subsection (d) are satisfied, or (ii) the Company shall consummate the sale or other
disposition of all or substantially all of the assets of the Company, other than to a corporation, with respect to which, following such sale or other disposition, (A) 50% or more of the then outstanding shares of common stock of such
corporation and the combined voting power of the Voting Stock of such corporation is then beneficially owned, directly or indirectly, by all or substantially all of the Persons who were the Beneficial Owners of the outstanding Common Stock
immediately prior to such sale or other disposition in substantially the same proportion as their ownership, immediately prior to such sale or other disposition, of the outstanding Common Stock, (B) no Person (excluding any Exempt Person and
any Person beneficially owning, immediately prior to such sale or other disposition, directly or indirectly, 20% or more of the Common Stock then outstanding or 20% or more of the combined voting power of the Voting Stock of the Company then
outstanding) beneficially owns, directly or indirectly, 20% or more of the then outstanding shares of common stock of such corporation and the combined voting power of the then outstanding Voting Stock of such corporation, and (C) at least a
majority of the members of the board of directors of such corporation were members of the Incumbent Board at the time of the initial agreement or initial action of the Board providing for such sale or other disposition of assets of the Company.

 1.7 “Code” means the Internal Revenue Code of 1986, as it may be amended from time to time. 

1.8 “Common Stock” means the common stock, par value $.01 per share, of the Company. 
 1.9 “Company” means ConocoPhillips or any successors thereto. 
 1.10 “Controlled
Group” shall mean ConocoPhillips and its Subsidiaries. 
 1.11 “Credited Compensation” of a Severed Employee means the aggregate
of the Severed Employee’s annual base salary plus his or her annual incentive compensation, each as further described below. For purposes of this definition, (a) annual base salary shall be determined immediately prior to the Severance
Date (without regard to any reductions therein which constitute Good Reason) and (b) annual incentive compensation shall be deemed to equal the higher of (i) the Severed Employee’s most recently established target (determined at one
hundred percent of target) for annual incentive compensation for such employee prior to such employee’s Severance Date or (ii) the average of the most recent two annual incentive compensation payments to by such Severed Employee pursuant
to the Variable Cash Incentive Program or its successor program maintained by the Employer made before his or her Severance Date; provided, however, that for purposes of this clause (ii), (I) if such Severed Employee has been eligible to
receive only one such annual incentive 

  
 4 

 Exhibit 10.1 

 

 
compensation payment for a period ending before his or her Severance Date, the amount of annual incentive compensation for purposes of determining Credited Compensation shall be equal to the
amount of such single annual incentive compensation payment (if any), and (II) if such Severed Employee has not been eligible for any such annual incentive compensation payment, the amount of annual incentive compensation for purposes of determining
Credited Compensation shall be equal to his or her most recently established target (determined at one hundred percent of target) for annual incentive compensation for such employee prior to such employee’s Severance Date. 

1.12 “Effective Date” means, as applicable, the date first stated above as the original effective date of this Plan or the effective date of
this Plan as amended and restated. 
  

	1.13	“Eligible Employee” means any employee that is a Tier 1 Employee or a Tier 2 Employee. 

 

	1.14	“Employer” means the Company or any of its Subsidiaries. 

  

	1.15	“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

 1.16 “Excise Tax” shall mean the excise tax imposed by Section 4999 of the Code, together with any interest or penalties imposed with respect to such excise tax. 

1.17 “Exempt Person” means any of the Employers, any employee benefit plan of any of the Employers, and any Person organized, appointed, or
established by any Employer for or pursuant to the terms of any such plan. 
 1.18 “Exempt Rights” means any rights to purchase shares
of Common Stock or other Voting Stock of the Company if at the time of the issuance thereof such rights are not separable from such Common Stock or other Voting Stock (i.e., are not transferable otherwise than in connection with a transfer of
the underlying Common Stock or other Voting Stock), except upon the occurrence of a contingency, whether such rights exist as of the Effective Date, or are thereafter issued by the Company as a dividend on shares of Common Stock or other Voting
Securities or otherwise. 
 1.19 “Exempt Transaction” means an increase in the percentage of the outstanding shares of Common Stock or
the percentage of the combined voting power of the outstanding Voting Stock of the Company beneficially owned by any Person solely as a result of a reduction in the number of shares of Common Stock then outstanding due to the repurchase of Common
Stock or Voting Stock by the Company, unless and until such time as (a) such Person or any Affiliate or Associate of such Person shall purchase or otherwise become the Beneficial Owner of additional shares of Common Stock constituting 1% or
more of the then outstanding shares of Common Stock or additional Voting Stock representing 1% or more of the combined voting power of the then outstanding Voting Stock, or (b) any other Person (or Persons) who is (or collectively are) the
Beneficial Owner of shares of Common Stock constituting 1% or more of the then outstanding shares of Common Stock or Voting Stock representing 1% or more of the combined voting power of the then outstanding Voting Stock shall become an Affiliate or
Associate of such Person. 
 1.20 “Good Reason” means the occurrence, on or after the date of a Change in Control, and without the
Eligible Employee’s written consent, of (i) the assignment to the Eligible Employee of duties in the aggregate that are inconsistent with the Eligible Employee’s level of responsibility

  
 5 

 Exhibit 10.1 

 

 
immediately prior to the date of the Change in Control or any diminution in the nature of the Eligible Employee’s responsibilities from those in effect immediately prior to the date of the
Change in Control; (ii) a reduction by the Employer in the Eligible Employee’s annual base salary or any adverse change in the Eligible Employee’s aggregate annual and long term incentive compensation opportunity from that in effect
immediately prior to the Change in Control which change is not pursuant to a program applicable to all comparably situated executives of the Employer; or (iii) the relocation of the Eligible Employee’s principal place of employment to a
location more than 50 miles from the Eligible Employee’s principal place of employment immediately prior to the date of the Change in Control; provided, however, that this clause (iii) shall not be considered to be Good Reason if the
Employer undertakes to pay all reasonable relocation expenses of the Eligible Employee in connection with such relocation, whether through a relocation plan, program, or policy of the Employer or otherwise. 

 

	1.21	“Gross-Up Payment” has the meaning set forth in Section 2.5 hereof. 

 1.22 “Parachute Value” of a Payment shall mean the present value as of the date of the change of control for purposes of Section 280G of the Code of the portion of such Payment that
constitutes a “parachute payment” under Section 280G(b)(2), as determined by the Accounting Firm for purposes of determining whether and to what extent the Excise Tax will apply to such Payment. 

1.23 “Payment” shall mean any payment or distribution in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code)
to or for the benefit of an Eligible Employee, whether paid or payable pursuant to this Plan or otherwise, by any Employer or by a Person that is a party to the Change in Control. 
 1.24 “Person” means any individual, firm, corporation, partnership, association, trust, unincorporated organization, or other entity. 
 1.25 “Plan” means the ConocoPhillips Key Employee Change in Control Severance Plan, as set forth herein, as it may be amended from time to time. 

1.26 “Plan Administrator” means the person or persons appointed from time to time by the Board, which appointment may be revoked at any time by
the Board. 
 1.27 “Public Offering” means the initial sale of common equity securities of the Company pursuant to an effective
registration statement (other than a registration on Form S-4 or S-8 or any successor or similar forms) filed under the Securities Act of 1933. 
 1.28 “Retirement Plans” means the ConocoPhillips Retirement Plan and the ConocoPhillips Key Employee Supplemental Retirement Plan. 
 1.29 “Safe Harbor Amount” means, with respect to an Eligible Employee, 2.99 times the Eligible Employee’s “base amount,” within the meaning of Section 280G(b)(3) of the Code.

  
 6 

 Exhibit 10.1 

 

 1.30 “Separation from Service” means the date on which the Participant separates from service
with the Controlled Group within the meaning of Code section 409A, whether by reason of death, disability, retirement, or otherwise. In determining Separation from Service, with regard to a bona fide leave of absence that is due to any medically
determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six months, where such impairment causes the Employee to be unable to perform the duties of his or
her position of employment or any substantially similar position of employment, a 29-month period of absence shall be substituted for the six-month period set forth in section 1.409A-1(h)(1)(i) of the regulations issued under section 409A of the
Code, as allowed thereunder. 
 1.31 “Severance” means the termination of an Eligible Employee’s employment with the Employer on
or within two years following the date of a Change in Control, (i) by the Employer other than for Cause, or (ii) by the Eligible Employee for Good Reason. An Eligible Employee will not be considered to have incurred a Severance if his
employment is discontinued by reason of the Eligible Employee’s death or a physical or mental condition causing such Eligible Employee’s inability to substantially perform his duties with the Employer and entitling him or her to benefits
under any long-term sick pay or disability income policy or program of the Employer. Furthermore, an Eligible Employee will not be considered to have incurred a Severance if employment with the Employer is discontinued after the Eligible Employee
has been offered employment with another employer that has purchased a Subsidiary or division of the Company or all or substantially all of the assets of an a Subsidiary or division of the Company and the offer of employment from the other employer
is at the same or greater salary and the same or greater target bonus as the Eligible Employee has at that time from the Employer. Still further, an Eligible Employee will not be considered to have incurred a Severance as a result of (i) the
Distribution, (ii) the Eligible Employee’s transfer to the controlled group of Phillips 66 in connection with the Distribution, or (iii) the Eligible Employee’s transfer to the Controlled Group in connection with the
Distribution. Notwithstanding anything herein to the contrary, Good Reason shall not be deemed to have occurred unless the Company shall have been given (1) written notice of the Eligible Employee’s assertion that an event constituting
Good Reason has occurred, which notice shall be given not less than 30 days prior to the Severance Date to which such notice relates, and (2) a reasonable opportunity to cure such occurrence during such 30-day period. Furthermore, in order to
be considered a Severance, the termination must also meet the requirements of a Separation from Service. 
  

	1.32	“Severance Date” means the date on which an Eligible Employee incurs a Severance. 

 

	1.33	“Severance Pay” means the payment determined pursuant to Section 2.1 hereof. 

 

	1.34	“Severed Employee” means an Eligible Employee who has incurred a Severance. 

 1.35 “Subsidiary” means any corporation or other entity that is treated as a single employer with ConocoPhillips after the Distribution, under section 414(b) or (c) of the Code; provided,
that in making this determination, in applying section 1563(a)(1), (2), and (3) of the Code for purposes of determining a controlled group of corporations under section 414(b) of the Code and for purposes of determining trades or businesses
(whether or not incorporated) under common control under regulation section 1.414(c)-2 for purposes of section 414(c) of the Code, the language “at least 80%” shall be used without substitution as allowed under regulations pursuant to
section 409A of the Code. 

  
 7 

 Exhibit 10.1 

 

 1.36 “Tier 1 Employee” means any employee of the Employer who is in salary grade 26 or above
(under the salary grade schedule of the Company on the Effective Date, with appropriate adjustment for any subsequent change in such salary grade schedule), at or subsequent to the time of the Change in Control. 

1.37 “Tier 2 Employee” means any employee of the Employer, other than a Tier 1 Employee, who is in salary grade 23 or above (under the salary
grade schedule of the Company on the Effective Date, with appropriate adjustment for any subsequent change in such salary grade schedule) at or subsequent to the time of the Change in Control. 
 1.38 “Value” of a Payment shall mean the economic present value of a Payment as of the date of the change of control for purposes of Section 280G of the Code, as determined by the
Accounting Firm using the discount rate required by Section 280G(d)(4) of the Code. 
 1.39 “Voting Stock” means, with respect to
a corporation, all securities of such corporation of any class or series that are entitled to vote generally in the election of directors of such corporation (excluding any class or series that would be entitled so to vote by reason of the
occurrence of any contingency, so long as such contingency has not occurred). 
 SECTION 2. BENEFITS. 

2.1 Subject to Section 2.9, each Severed Employee shall be entitled to receive Severance Pay equal to the sum of the amounts determined under
Sections 2.1(a), (b), and (c). Furthermore, for purposes of Employer compensation plans, programs, and arrangements, each Severed Employee shall be considered to have been laid off by the Employer. 

 

	 	(a)	The amount that is the Severed Employee’s Credited Compensation, multiplied by (i) 3, in the case of a Tier 1 Employee or (ii) 2 in the case of a
Tier 2 Employee. 

  

	 	(b)	The amount that is the present value, determined as of the Severed Employee’s Severance Date, of the increase in benefits under the Retirement Plans that would
result if the Severed Employee was credited with the following number of additional years of age and service under the Retirement Plans: (i) 3, in the case of a Tier 1 Employee or (ii) 2, in the case of a Tier 2 Employee;
provided, however, that in calculating (b), if the Severed Employee is entitled under the Retirement Plans to any additional credited service due to the circumstances of the Severed Employee’s termination, then the amount of the present value
of the increased benefits called for in the determination of (b) shall be reduced by the amount of the present value of the increased benefits under the Retirement Plans calculated after taking into account the circumstances of the Severed
Employee’s termination, but not below zero. Present value shall be determined based on the assumptions utilized under the ConocoPhillips Retirement Plan for purposes of determining contributions under Code Section 412 for the most recently
completed plan year. 

  
 8 

 Exhibit 10.1 

 

	 	(c)	The amount that is equal to either (i) or (ii), as applicable, plus either (iii) or (iv), as applicable, plus (v), if applicable, plus (vi), if applicable:

  

	 	(i)	If the Severed Employee was enrolled in company-sponsored medical coverage on the Severance Date, an amount equal to 6 times the difference between the COBRA
participant contribution rate and the active employee contribution rate, each as of the Severance Date, for the type of coverage in which the Tier 2 Employee was enrolled. 

 

	 	(ii)	If the Severed Employee was not enrolled in company-sponsored medical coverage on the Severance Date, an amount equal to 18 times the difference between the COBRA
participant contribution rate and the active employee contribution rate, each as of the Severance Date, for PPO medical coverage. 

  

	 	(iii)	If the Severed Employee was enrolled in company-sponsored dental coverage on the Severance Date, an amount equal to 6 times the difference between the COBRA participant
contribution rate and the active employee contribution rate, each as of the Severance Date, for the type of coverage in which the Tier 2 Employee was enrolled. 

 

	 	(iv)	If the Severed Employee was not enrolled in company-sponsored dental coverage on the Severance Date, an amount equal to 18 times the difference between the COBRA
participant contribution rate and the active employee contribution rate, each as of the Severance Date, for dental coverage (using the CP dental option coverage). 

	 	(v)	In the case of a Tier 1 Employee, an amount equal to the sum of 6 times the COBRA participant contribution rate, as of the Severance Date, for PPO medical coverage plus
6 times the COBRA participant contribution rate, as of the Severance Date, for dental coverage (using the CP dental option coverage). 

  

	 	(vi)	If any persons qualified as eligible dependents of the Severed Employee under the applicable company-sponsored medical or dental coverage in which the Severed Employee
was enrolled on the Severance Date, an amount equal to the sum of the differences, for each such eligible dependent, between the COBRA eligible dependent contribution rate and the eligible dependent contribution rate for eligible dependents of
active employees, each as of the Severance Date, for the medical and/or dental coverage in which the Severed Employee was enrolled on the Severance Date, as applicable, times the factor set forth in the applicable Section 2.1(c)(i) or (ii),
(c)(iii) or (iv), and (c)(v); provided, that if the Severed Employee was not enrolled for medical or dental coverage, then the eligibility and amount for each dependent shall be determined as if the Severed Employee had been enrolled in the PPO
medical coverage or dental coverage (using the CP dental option coverage), as applicable, on the Severance Date. 

  
 9 

 Exhibit 10.1 

 

 2.2 Severance Pay (as well as any amount payable pursuant to Section 2.6 hereof) shall be paid to
an eligible Severed Employee in a cash lump sum on the first business day immediately following 10 days after the end of the period for executing and delivering the Severed Employee’s release, as set forth in Section 2.9. 

2.3 Subject to Section 2.9, for a period of (a) 36 months, in the case of a Tier 1 Employee or (b) 24 months, in the case of a Tier 2
Employee, beginning the first of the month following the termination of active employee benefits, the Company shall arrange to provide the Severed Employee and his dependents benefits similar to those the Severed Employee and his dependents had
immediately prior to the Severed Employee’s Severance Date. Only those dependents who were eligible for coverage on the Severed Employee’s Severance Date may be covered thereafter, but no amendment to any plan or program providing these
benefits made after the Severed Employee’s Severance Date shall prevent eligibility for dependents who would otherwise have been eligible for coverage on the Severed Employee’s Severance Date. These benefits will be provided at no greater
cost to the Severed Employee than active employee rates for the plan year of coverage provided the benefits continue to be offered by the Company to active employees and the Severed Employee and his dependents meet the same eligibility criteria for
the benefits as an active employee and dependents of an active employee. Depending on coverages prior to the Severed Employee’s Severance Date, these benefits could include the following, but do not include any other benefits offered by the
Company: Life Insurance, which includes Basic, Executive Basic, Supplemental, and Dependent Life; and Personal Accident Insurance. Severed employees may also continue Long Term Care and Executive Life directly through the vendor to be paid for by
the Severed Employee. Nothing herein shall prevent a Severed Employee or eligible dependents of a Severed Employee from electing to receive COBRA continuation coverage of health benefits subject to COBRA, in accordance with the applicable provisions
of the law and the applicable plans. While as an active employee the Severed Employee may have been able to make employee contributions or pay premiums for certain coverage through a pre-tax salary reduction arrangement, that will not continue after
the Severed Employee’s Severance Date. The cost of these benefits will not be adjusted to reflect that the Severed Employee’s cost will no longer be pre-tax. All other active employee benefits, not specifically mentioned above, are
excluded, although if any of the benefits specifically mentioned above are replaced with a similar benefit after the Severed Employee’s Severance Date, such replacement benefits are to be considered as mentioned specifically above even though
their names, terms, and conditions may have been changed. Such benefits shall not be provided (except to the extent as may be required by law) during any period when the Severed Employee is eligible to receive such benefits from another employer or
from an Employer or if the Severed Employee has resumed working for an Employer. The Severed Employee is obligated to inform the Company when or if they become eligible to receive such benefits from another employer. 

2.4 Upon Change in Control, each Eligible Employee shall immediately become fully vested in all outstanding equity awards and shall not thereafter be
forfeitable for any reason (except that options shall expire and be cancelled ten years from the date of their grant). Any options granted to the Eligible Employee shall be exercisable at the times set forth in the applicable award documents.

  
 10 

 Exhibit 10.1 

 

 
Each such option shall remain outstanding until ten years from the date of grant, notwithstanding any provision of the option grant or any plan under which the option may have been granted to the
contrary. The date of distribution of any stock or other value from such awards shall be as set forth in the applicable terms and conditions of the award. 
 2.5 The provisions of this Section 2.5 shall apply only to an individual who was an Eligible Employee on May 1, 2012 (refer to Schedule A). 

 

	 	(a)	Anything in this Plan to the contrary notwithstanding and except as set forth below, in the event it shall be determined that any Payment to an Eligible Employee would
be subject to the Excise Tax, then the Eligible Employee shall be entitled to receive an additional payment (the “Gross-Up Payment”) in an amount such that, after payment by the Eligible Employee of all taxes (and any interest or penalties
imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise Tax imposed upon the Gross-Up Payment, the Eligible Employee retains an amount of the
Gross-Up Payment equal to the Excise Tax imposed upon the Payments. Notwithstanding the foregoing provisions of this Section 2.5(a), if it shall be determined that an Eligible Employee is entitled to the Gross-Up Payment, but that the Parachute
Value of all Payments does not exceed 110% of the Safe Harbor Amount, then no Gross-Up Payment shall be made to the Eligible Employee and the amounts payable under this Plan shall be reduced so that the Parachute Value of all Payments, in the
aggregate, equals the Safe Harbor Amount. The reduction of the amounts payable hereunder, if applicable, shall be made by first reducing the payments under Section 2.1, unless an alternative method of reduction is elected by the Eligible
Employee, and in any event shall be made in such a manner as to maximize the Value of all Payments actually made to the Eligible Employee. For purposes of reducing the Payments to the Safe Harbor Amount, only amounts payable under this Plan (and no
other Payments) shall be reduced. If the reduction of the amount payable under this Plan to an Eligible Employee would not result in a reduction of the Parachute Value of all Payments to the Safe Harbor Amount, no amounts payable to the Eligible
Employee under the Plan shall be reduced pursuant to this Section 2.5(a). The Company’s obligation to make Gross-Up Payments to an Eligible Employee under this Section 2.5 shall not be conditioned upon the Eligible Employee’s
termination of employment. 

  

	 	(b)	 Subject to the provisions of Section 2.5(c), all determinations required to be made under this Section 2.5, including whether and when a
Gross-Up Payment is required, the amount of such Gross-Up Payment and the assumptions to be utilized in arriving at such determination, shall be made by a nationally recognized certified public accounting firm designated by the Plan Administrator
(the “Accounting Firm”). The Accounting Firm shall provide detailed supporting calculations both to the Company and each Eligible Employee Eligible Employee within 15 business days of the receipt of notice from the Eligible Employee that
there has been a Payment or such earlier time as is requested by the Company. All fees and expenses of the Accounting Firm shall be borne solely by the Company. Any Gross-Up Payment, as determined pursuant to this Section 2.5, shall be paid by
the Company to the Eligible 

  
 11 

 Exhibit 10.1 

 

	 	
Employee within 5 days of the receipt of the Accounting Firm’s determination. Any determination by the Accounting Firm shall be binding upon the Company and the Eligible Employee. As a
result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments that will not have been made by the Company should have
been made (the “Underpayment”), consistent with the calculations required to be made hereunder. In the event the Company exhausts its remedies pursuant to Section 2.5(c) and the Eligible Employee thereafter is required to make a
payment of any Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit of the Eligible Employee. 

 

	 	(c)	As a condition to being entitled to Gross-Up Payment hereunder, each Eligible Employee shall be required to notify the Company in writing of any claim by the Internal
Revenue Service that, if successful, would require the payment by the Company of the Gross-Up Payment. Such notification shall be given as soon as practicable, but no later than 10 business days after the Eligible Employee is informed in writing of
such claim. The Eligible Employee shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. The Eligible Employee shall not pay such claim prior to the expiration of the 30-day period following
the date on which the Eligible Employee gives such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies the Eligible Employee in writing prior to the
expiration of such period that the Company desires to contest such claim, the Eligible Employee shall: 

  

	 	(i)	give the Company any information reasonably requested by the Company relating to such claim, 

 

	 	(ii)	take such action in connection with contesting such claim as the Company shall reasonably request in writing from time to time, including, without limitation, accepting
legal representation with respect to such claim by an attorney reasonably selected by the Company, 

  

	 	(iii)	cooperate with the Company in good faith in order effectively to contest such claim, and 

 

	 	(iv)	permit the Company to participate in any proceedings relating to such claim; 

 provided, however, that the Company shall bear and pay directly all costs and expenses (including additional interest and penalties) incurred in connection with such contest, and shall indemnify and hold
the Eligible Employee harmless, on an after-tax basis, for any Excise Tax or income tax (including interest and penalties) imposed as a result of such representation and payment of costs and expenses. Without limitation on the foregoing provisions
of this Section 2.5(c), the Company shall control all proceedings taken in connection with such contest, and, at its sole 

  
 12 

 Exhibit 10.1 

 

 
discretion, may pursue or forgo any and all administrative appeals, proceedings, hearings and conferences with the applicable taxing authority in respect of such claim and may, at its sole
discretion, either direct the Eligible Employee to pay the tax claimed and sue for a refund or contest the claim in any permissible manner, and the Eligible Employee agrees to prosecute such contest to a determination before any administrative
tribunal, in a court of initial jurisdiction and in one or more appellate courts, as the Company shall determine; provided, however, that, if the Company directs the Eligible Employee to pay such claim and sue for a refund, the Company shall make
such payment and shall indemnify and hold the Eligible Employee harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties) imposed with respect to such payment or with respect to any imputed income in
connection with such payment; and provided, further, that any extension of the statute of limitations relating to payment of taxes for the taxable year of the Eligible Employee with respect to which such contested amount is claimed to be due is
limited solely to such contested amount. Furthermore, the Company’s control of the contest shall be limited to issues with respect to which the Gross-Up Payment would be payable hereunder, and the Eligible Employee shall be entitled to settle
or contest, as the case may be, any other issue raised by the Internal Revenue Service or any other taxing authority. 
  

	 	(d)	If, after the Company has made a Gross-Up Payment or a payment pursuant to Section 2.5(c), an Eligible Employee becomes entitled to receive any refund with respect
to the Excise Tax to which such Gross-Up Payment relates or with respect to the claim to which such payment relates, the Eligible Employee shall (subject to the Company’s complying with the requirements of Section 2.5(c), if applicable)
promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after the Company has paid any amount pursuant to Section 2.5(c), a determination is made that the
Eligible Employee shall not be entitled to any refund with respect to such claim and the Company does not notify the Eligible Employee in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such
determination, then the amount of such payment shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid. 

  

	 	(e)	Notwithstanding any other provision of this Section 2.5, the Company may, in its sole discretion, withhold and pay over to the Internal Revenue Service or any
other applicable taxing authority, for the benefit of any Eligible Employee, all or any portion of any Gross-Up Payment, and each Eligible Employee shall be required to consent to such withholding as a condition to being entitled to any Gross-Up
Payment. 

 2.6 Each Severed Employee shall be entitled to receive the employee’s full salary through the Severance Date and,
subject to Section 2.9 but notwithstanding any provision of the Company’s Variable Cash Incentive Program or similar annual bonus incentive plan to the contrary, shall be eligible for consideration for an award under such program or plan
when awards are made with regard to the fiscal year under such program or plan in which the Severance Date occurred. 

  
 13 

 Exhibit 10.1 

 

 2.7 The Company will pay to each Eligible Employee all reasonable legal fees and expenses incurred by
such Eligible Employee in pursuing any claim under the Plan, unless the applicable finder of fact determines that the Eligible Employee’s claim was frivolous or not maintained in good faith. 

2.8 The Company shall be entitled to withhold and/or to cause to be withheld from amounts to be paid to the Severed Employee hereunder any federal, state,
or local withholding or other taxes or charges which it is from time to time required to withhold. 
 2.9 No Severed Employee shall be eligible
to receive Severance Pay or other benefits under the Plan unless he or she first executes a written release substantially in the form attached as Exhibit A hereto (or, if the Severed Employee was not a United States employee, a similar release
which is in accordance with the applicable laws in the relevant jurisdiction) and, to the extent such release is revocable by its terms, only if the Severed Employee does not revoke it. Such release must be executed and delivered to the Company
within 30 days of the Employee’s Severance Date. 

  
 14 

 Exhibit 10.1 

 

 SECTION 3. PLAN ADMINISTRATION. 
 3.1 The Plan Administrator shall administer the Plan and may interpret the Plan, prescribe, amend, and rescind rules and regulations under the Plan and make all other determinations necessary or advisable
for the administration of the Plan, subject to all of the provisions of the Plan. 
 3.2 In the event of a claim by an Eligible Employee as to
the amount or timing of any payment or benefit, such Eligible Employee shall present the reason for his or her claim in writing to the Plan Administrator. The Plan Administrator shall, within 14 days after receipt of such written claim, send a
written notification to the Eligible Employee as to its disposition. Except as provided in the preceding portion of this Section 3.2, all disputes under this Plan shall be settled exclusively by binding arbitration in Houston, Texas, in
accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. 
 3.3 The Plan Administrator may delegate any of its duties hereunder to such person or persons from time to time as it may designate. 
 3.4 The Plan Administrator is empowered, on behalf of the Plan, to engage accountants, legal counsel, and such other personnel as it deems necessary or advisable to assist it in the performance of its
duties under the Plan. The functions of any such persons engaged by the Plan Administrator shall be limited to the specified services and duties for which they are engaged, and such persons shall have no other duties, obligations or responsibilities
under the Plan. Such persons shall exercise no discretionary authority or discretionary control respecting the management of the Plan. All reasonable expenses thereof shall be borne by the Employer. 

SECTION 4. DURATION; AMENDMENT; AND TERMINATION. 
 4.1 This Plan was effective on the Effective Date and was amended and restated effective as of the Effective Time and conditioned on the Distribution. If a Change in Control has not occurred, this Plan
shall continue in effect unless and until it is terminated as provided in Section 4.2. If a Change in Control occurs, this Plan shall continue in full force and effect and shall not terminate or expire until after all Eligible Employees who
become or may become entitled to any payments hereunder shall have received such payments in full and all adjustments required to be made pursuant to Section 2 have been made. 

 

	4.2    (a)	If a Change in Control has not occurred, this Plan may be amended from time to time during its term by the Company acting through its Board of Directors or, to the
extent authorized by the Board of Directors, its officers, provided that any such amendment which shall in any manner reduce, diminish, or otherwise adversely affect any benefit which is or may at any time in the future become payable hereunder, or
any such amendment which shall alter the definition of Change in Control shall be made effective not less than two years after the action of the Company authorizing such amendment, unless, and then only to the extent that such amendment is or
becomes necessary in order to assure continued compliance by this Plan with any applicable state or federal law or regulation. 

  
 15 

 Exhibit 10.1 

 

	 	(b)	The Company may, by action of its Board of Directors, terminate this Plan, provided, however, that the effective date of such termination shall be not less than two
years from the date of such Board action. Provided further that in the event a Change in Control shall occur prior to the effective date of termination, the provisions of Section 4.2(c) shall apply. 

 

	 	(c)	If a Change in Control shall occur while this Plan is in effect, no then-pending amendment or termination shall take effect, this Plan shall remain in full force and
effect as at the Change in Control, and this Plan shall terminate automatically without further action on behalf of the Company immediately following the making of all payments to Eligible Employees under this Plan. 

SECTION 5. GENERAL PROVISIONS. 
 5.1
Except as otherwise provided herein or by law, no right or interest of any Eligible Employee under the Plan shall be assignable or transferable, in whole or in part, either directly or by operation of law or otherwise, including without limitation
by execution, levy, garnishment, attachment, pledge, or in any manner; no attempted assignment or transfer thereof shall be effective; and no right or interest of any Eligible Employee under the Plan shall be liable for, or subject to, any
obligation or liability of such Eligible Employee. When a payment is due under this Plan to a Severed Employee who is unable to care for his or her affairs, payment may be made directly to his or her legal guardian or personal representative.

 5.2 If any Employer is obligated by law or by contract to pay severance pay, a termination indemnity, notice pay, or the like, to a Severed
Employee, or if any Employer is obligated by law to provide advance notice of separation (“Notice Period”) to a Severed Employee, then any Severance Pay hereunder to such Severed Employee shall be reduced by the amount of any such
severance pay, termination indemnity, notice pay, or the like, as applicable, and by the amount of any compensation received during any Notice Period. This provision specifically includes any payments or obligations under the Conoco Inc. Key
Employee Severance Plan, as amended and restated effective October 1, 2001, and as subsequently amended, or under the ConocoPhillips Severance Pay Plan, as effective March 13, 2004, and as subsequently amended, or under the ConocoPhillips
Executive Severance Plan, as effective October 1, 2004, and as subsequently amended. Furthermore, if an Eligible Employee has willful and bad faith conduct demonstrably injurious to Company or its Subsidiaries, monetarily or otherwise, after
receiving Severance Pay, the Company may offset an amount equal to such Severance Pay against any other amounts due from other plans or programs, unless otherwise required by law. 
 5.3 Neither the establishment of the Plan, nor any modification thereof, nor the creation of any fund, trust, or account, nor the payment of any benefits shall be construed as giving any Eligible
Employee, or any person whomsoever, the right to be retained in the service of the Employer, and all Eligible Employees shall remain subject to discharge to the same extent as if the Plan had never been adopted. 

  
 16 

 Exhibit 10.1 

 

 5.4 If any provision of this Plan shall be held invalid or unenforceable, such invalidity or
unenforceability shall not affect any other provisions hereof, and this Plan shall be construed and enforced as if such provisions had not been included. 
 5.5 This Plan shall be binding upon the heirs, executors, administrators, successors, and assigns of the parties, including each Eligible Employee, present and future, and any successor to the Employer.

 5.6 The headings and captions herein are provided for reference and convenience only, shall not be considered part of the Plan, and shall not
be employed in the construction of the Plan. 
 5.7 The Plan shall not be funded. No Eligible Employee shall have any right to, or interest in,
any assets of any Employer that may be applied by the Employer to the payment of benefits or other rights under this Plan. 
 5.8 Any notice or
other communication required or permitted pursuant to the terms hereof shall have been duly given when delivered or mailed by United States Mail, first-class, postage prepaid, addressed to the intended recipient at his, her or its last known
address. 
  

	5.9	This Plan shall be construed and enforced according to the laws of the State of Delaware. 

 The Plan is hereby amended and restated effective as of the Effective Time. 

Executed this 11th day of October 2012, by a duly authorized officer of the Company. 

 

							
	CONOCOPHILLIPS	  		  	
				
	By:	  	 /s/ Sheila Feldman
	  		  	Dated: 10/11/12
		  	Sheila Feldman	  		  	
		  	Vice President, Human Resources	  		  	

  
 17 

 Exhibit 10.1 

 

 Exhibit A 
 PLEASE READ CAREFULLY 
 THIS AGREEMENT INCLUDES A RELEASE OF

 ALL KNOWN AND UNKNOWN CLAIMS 
 WAIVER AND RELEASE OF CLAIMS 
 In consideration of, and subject to,
the payments to be made to me by ConocoPhillips, a Delaware corporation (the “Company”) or any of its subsidiaries, pursuant to the ConocoPhillips Key Employee Change in Control Severance Plan (the “Plan”), which I acknowledge
that I would not otherwise be entitled to receive, I hereby waive any claims I may have for employment or re-employment by the Company or any subsidiary or parent of the Company after the date hereof, and I further agree to and do release and
forever discharge the Company or any subsidiary or parent of the Company, and their respective past and present officers, directors, shareholders, employees, and agents (the “Released Parties”) from any and all claims and causes of action,
known or unknown, arising out of or relating to my employment with the Company or any subsidiary or parent of the Company, or the termination thereof, including, but not limited to, wrongful discharge, breach of contract, tort, fraud, the Civil
Rights Acts, Employee Retirement Income Security Act, Americans with Disabilities Act, or any other federal, state, or local legislation or common law relating to employment or discrimination in employment or otherwise. Nothing in this Waiver and
Release of Claims, however, will limit my rights to file a charge of discrimination with the Equal Employment Opportunity Commission (“EEOC”) or participate in an EEOC investigation. 

In consideration for receiving certain supplemental benefits from the Company, I specifically waive all existing rights and claims I may
have against the Released Parties under the Age Discrimination in Employment Act, 29 USC §621 et seq., and any other applicable federal or state statute or law involving age discrimination. I acknowledge that the supplemental benefits provided
in the Plan constitute independent consideration for this Release of liability and are in addition to any other payment to which I am entitled. I further acknowledge that I have been advised to consult with an attorney of my own choosing before
executing this Waiver and Release of Claims. 
 Notwithstanding the foregoing or any other provision hereof, nothing in this
Waiver and Release of Claims shall adversely affect (i) my rights under the Plan; (ii) my rights to benefits other than severance benefits under plans, programs, and arrangements 

  
 18 

 Exhibit 10.1 

 

 
of the Company or any subsidiary or parent of the Company which are accrued but unpaid as of the date of my termination; or (iii) my rights to indemnification under any indemnification
agreement, applicable law and the certificates of incorporation and bylaws of the Company and any subsidiary or parent of the Company, and my rights under any director’s and officers’ liability insurance policy covering me. 

I acknowledge that I have been given a period of twenty-one (21) calendar days within which to review and consider the provisions of
this Waiver and Release of Claims, whether I choose to do so or not. I understand and acknowledge that the Company has advised me in writing that I have seven (7) calendar days following the execution of this Waiver and Release of Claims to
revoke my acceptance of this Waiver and Release of Claims. I understand the revocation can be made by delivering a written notice of revocation to ConocoPhillips, Attn: James McMorran, 600 N. Dairy Ashford, Houston, Texas 77079. I understand that
for the revocation to be effective, the Company must receive written notice no later than the close of business on the seventh day after I sign this Waiver and Release of Claims. This Waiver and Release of Claims shall not become effective or
enforceable, and the Plan benefits will not become payable until after the seven-day revocation period has expired, but in no event prior to the effective date of my layoff. I acknowledge that I have had adequate time to read and consider this
Waiver and Release of Claims before executing it. I acknowledge that I have signed this Waiver and Release of Claims voluntarily, knowingly, of my own free will and without reservation or duress and that no promises or representations have been made
to me by any person to induce me to do so other than the promise of payment set forth in the first paragraph above and the Company’s acknowledgment of my rights reserved under the second paragraph above. 

Signature:      /s/ Sheila
Feldman                              
 Name:            Sheila Feldman
                                  

Title:             Vice President, Human Resources      

Date:             October 11,
2012                                 

  
 19

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