Document:

Exhibit 10.1 

 

REGISTRATION RIGHTS AGREEMENT

  

Execution Version

 

THIS REGISTRATION RIGHTS AGREEMENT
(this “Agreement”), dated as of August 10, 2021, to be effective as of the Effective Time (as defined below),
is by and among Chesapeake Energy Corporation, an Oklahoma corporation (the “Company”), Brix Investment LLC, Brix Investment
II LLC, Harvest Investment LLC, Harvest Investment II LLC, Vine Investment LLC and Vine Investment II LLC, and any Affiliates or Transferees
thereof, that hold Registrable Securities (each individually, a “Blackstone Holder” and collectively, the “Blackstone
Holders”).

 

RECITALS:

 

WHEREAS, this Agreement is
being entered into pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), dated as of the date hereof,
by and among, the Company, Hannibal Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of the Company, Hannibal
Merger Sub LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company, Vine Energy Inc., a Delaware corporation,
and Vine Energy Holdings, LLC a Delaware limited liability company;

 

WHEREAS, in connection with
the closing of the transactions contemplated by the Merger Agreement (the “Closing”), at the Effective Time, the Company
shall issue to the Blackstone Holders 13,628,067 shares of Company Common Stock (the “Shares”) in the aggregate;

 

WHEREAS, this Agreement shall
become effective as of the Effective Time; and

 

NOW THEREFORE, in consideration
of the mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged by each party hereto, the parties hereby agree as follows:

 

Article I

DEFINITIONS

 

As used herein, the following
terms shall have the following respective meanings:

 

“Adoption Agreement”
means an Adoption Agreement in the form attached hereto as Exhibit A.

 

“Affiliate”
means, as to any Person, any other Person who directly, or indirectly through one or more intermediaries, controls, is controlled by or
is under common control with such Person. As used in this definition, the term “control,” including the correlative terms
 “controlling,” “controlled by” and “under common control with,” means possession, directly or indirectly,
of the power to direct or cause the direction of management or policies (whether through ownership of securities or any partnership or
other ownership interest, by contract or otherwise) of a Person. For the avoidance of doubt, for purposes of this Agreement, (a) (i) the
Company, on the one hand, and the Blackstone Holders, on the other hand, shall not be considered Affiliates and (ii) any fund, entity
or account managed, advised or sub-advised, directly or indirectly, by a Blackstone Holder or any of its Affiliates, shall be considered
an Affiliate of such Blackstone Holder and (b) with respect to any fund, entity or account managed, advised or sub-advised directly
or indirectly, by any Blackstone Holder or any of its Affiliates, the direct or indirect equity owners thereof, including limited partners
of any Blackstone Holder or any Affiliate thereof, shall be considered an Affiliate of such Blackstone Holder.

 

     

     

    

 

“Agreement”
has the meaning set forth in the introductory paragraph.

 

“Blackstone Holder(s)”
has the meaning set forth in the introductory paragraph.

 

“Blackstone Selling
Holder” means a Blackstone Holder selling Registrable Securities pursuant to a Registration Statement.

 

“Blackstone Shelf
Registration Statement” has the meaning set forth in Section 2.2(a).

 

“Blackstone Underwritten
Offering” has the meaning set forth in Section 2.2(a).

 

“Blackstone Underwritten
Offering Request” has the meaning set forth in Section 2.2(a).

 

“Board”
means the board of directors of the Company.

 

“Business Day”
means a day other than a day on which banks in the State of New York or the State of Delaware are authorized or obligated to be closed.

 

“Closing”
has the meaning set forth in the recitals.

 

“Commission”
means the Securities and Exchange Commission or any successor governmental agency.

 

“Company”
has the meaning set forth in the introductory paragraph.

 

“Company Common Stock”
means the common stock of the Company, par value $0.01 per share.

 

“Company Securities”
has the meaning set forth in Section 2.4(c)(i).

 

“Company Underwritten
Offering” has the meaning set forth in Section 2.4(a).

 

“Effective Time”
has the meaning assigned to such term in the Merger Agreement.

 

“Effectiveness Period”
has the meaning set forth in Section 2.2(c).

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, or any successor federal statute, and the rules and regulations of the Commission
thereunder, all as the same shall be in effect at the time.

 

“Existing Holders”
means the Holders (as defined in the Existing Registration Rights Agreement).

 

“Existing Registration
Rights Agreement” means the Registration Rights Agreement, dated as of February 9, 2021, by and among the Company and the
other parties thereto.

 

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“Indemnified Party”
has the meaning set forth in Section 3.3.

 

“Indemnifying Party”
has the meaning set forth in Section 3.3.

 

“Lock-up Period”
has the meaning set forth in Section 2.11(a).

 

“Losses”
has the meaning set forth in Section 3.1.

 

“Managing Underwriter”
means, with respect to any Underwritten Offering, the lead book-running manager(s) of such Underwritten Offering.

 

“Maximum Number of
Shares” has the meaning set forth in Section 2.4(c).

 

“Merger Agreement”
has the meaning set forth in the recitals.

 

“Opt-Out Notice”
has the meaning set forth in Section 2.10

 

“Permitted Transferees”
means, with respect to any Person, (i) any Affiliate of such Person, or (ii) any of such Person’s related investment funds
or vehicles controlled or managed by such Person or an Affiliate of such Person.

 

“Person”
means any individual, partnership, limited liability company, corporation, joint stock company, trust, estate, joint venture, governmental
entity, association or unincorporated organization, or any other form of business or professional entity.

 

“Piggyback Blackstone
Holders” has the meaning set forth in Section 2.4(a).

 

“Registrable Securities”
means (a) the Shares and (b) any securities issued or issuable with respect to the Shares by way of conversion, concession,
stock dividend or stock split or other distribution, recapitalization or reclassification, or in connection with any reorganization or
other recapitalization, merger, consolidation or otherwise; provided, however, that a Registrable Security shall cease to be a
Registrable Security when (i) a Registration Statement covering such Registrable Security has become effective under the Securities
Act and such Registrable Security has been Transferred by the holder of such Registrable Security pursuant to such Registration Statement
as a result of which the legend on any certificate or book-entry notation representing such Registrable Security restricting Transfer
of such Registrable Security has been removed, (ii) such Registrable Security is Transferred pursuant to Rule 144 under the
Securities Act or pursuant to any other exemption from the registration requirements of the Securities Act as a result of which the legend
on any certificate or book-entry notation representing such Registrable Security restricting Transfer of such Registrable Security has
been removed, (iii) such Registrable Security has ceased to be outstanding, (iv) or such Registrable Security has been sold
to, or through, a broker, dealer or underwriter in a public distribution or other public securities transaction or (v) such Registrable
Security has been sold or disposed of in a transaction in which the Transferor’s rights under this Agreement are not assigned to
the Transferee pursuant to Section 5.3.

 

“Registration Expenses”
means all expenses incurred by the Company in complying with Article II, including, without limitation, (i) all registration
and filing fees, (ii) printing expenses, (iii) fees and disbursements of independent public accountants for the Company incurred
specifically in connection with such registration, (iv) fees and expenses (including reasonable and customary counsel fees) incurred
in connection with complying with state securities or “blue sky” laws, (v) fees of the Financial Industry Regulatory
Authority, Inc. and (vi) fees of transfer agents and registrars, but excluding, in each case, any Selling Expenses.

 

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“Registration Statement”
means any registration statement of the Company filed or to be filed with the Commission under the Securities Act, including the related
prospectus, amendments and supplements to such registration statement, and including pre- and post-effective amendments, and all exhibits
and all material incorporated by reference in such registration statement.

 

“Requesting Blackstone
Holder” has the meaning set forth in Section 2.2(a).

 

“Securities Act”
means the Securities Act of 1933, as amended, or any successor federal statute, and the rules and regulations of the Commission thereunder,
all as the same shall be in effect at the time. References to any rule under the Securities Act shall be deemed to refer to any similar
or successor rule or regulation.

 

“Selling Expenses”
means all (a) underwriting fees, discounts and selling commissions allocable to the sale of Registrable Securities, (b) transfer
taxes allocable to the sale of the Registrable Securities, (c) costs or expenses related to any roadshows conducted in connection
with the marketing of any Blackstone Underwritten Offering and (d) fees and expenses of counsel engaged by any Blackstone Holders
(subject to Article III).

 

“Shares”
has the meaning set forth in the recitals.

 

“Suspension Period”
has the meaning set forth in Section 2.3.

 

“Transfer”
means any sale, assignment, transfer, conveyance, gift, pledge, distribution, hypothecation or other encumbrance or any other disposition,
whether voluntary, involuntary by operation of law, whether effected directly or indirectly, or the entry into any legally binding contract,
commitment or understanding with respect to any sale, assignment, transfer, conveyance, gift, pledge, distribution, hypothecation or other
encumbrance or any other disposition, whether voluntary, involuntary or by operation of law, whether effected directly or indirectly,
including, with respect to any capital stock or interests in capital stock, the entry into any swap or any contract, transaction or series
of transactions that hedges or transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of such capital
stock or interest in capital stock, whether any such swap, contract, transaction or series of transactions is to be settled by delivery
of Company Securities, in cash or otherwise. “Transfers” or “Transferred” shall each have a correlative meaning.
 “Transfer,” when used as a verb, and “Transferee” and “Transferor” have correlative meanings.

 

“Underwritten Offering”
means an offering (including an offering pursuant to a Blackstone Shelf Registration Statement) in which shares of Company Common Stock
are sold to an underwriter on a firm commitment basis for reoffering to the public.

 

“Underwritten Offering
Filing” means (a) with respect to a Blackstone Underwritten Offering, a preliminary prospectus supplement (or prospectus
supplement if no preliminary prospectus supplement is used) to the Blackstone Shelf Registration Statement relating to such Blackstone
Underwritten Offering, and (b) with respect to a Company Underwritten Offering, (i) a preliminary prospectus supplement (or
prospectus supplement if no preliminary prospectus supplement is used) to an effective shelf Registration Statement (other than the Blackstone
Shelf Registration Statement) in which Registrable Securities could be included and Blackstone Holders could be named as selling security
holders without the filing of a post-effective amendment thereto (other than a post-effective amendment that becomes effective upon filing)
or (ii) a Registration Statement (other than the Blackstone Shelf Registration Statement), in each case relating to such Company
Underwritten Offering.

 

“WKSI”
means a well-known seasoned issuer (as defined in Rule 405 under the Securities Act).

 

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Article II

REGISTRATION RIGHTS

 

Section
2.1            Blackstone Shelf Registration Statement.

 

(a)            The
Company shall, as soon as practicable after the Effective Time, but in any event within five Business Days after the Effective Time (or
such later date as mutually agreed by the Company and the Blackstone Holders), file a Registration Statement (the “Blackstone
Shelf Registration Statement”), under the Securities Act to permit the public resale of the Registrable Securities by the Blackstone
Holders from time to time as permitted by Rule 415 under the Securities Act and shall use commercially reasonable efforts to cause
such Registration Statement to become or be declared effective as soon as practicable after the filing thereof, including by filing an
automatic shelf registration statement that becomes effective upon filing with the Commission in accordance with Rule 462(e) under
the Securities Act to the extent the Company is then a WKSI. Following the effective date of the Blackstone Shelf Registration Statement
or when a supplement to any prospectus forming a part of the Blackstone Shelf Registration Statement has been filed, the Company shall
notify the Blackstone Holders of the effectiveness of the Blackstone Shelf Registration Statement.

 

(b)            The
Blackstone Shelf Registration Statement shall be on Form S-3 or, if Form S-3 is not then available to the Corporation, on Form S-1
or such other form of registration statement as is then available to effect a registration for resale of such Registrable Securities and
shall contain a prospectus in such form as to permit any Blackstone Holder to sell such Registrable Securities pursuant to Rule 415
under the Securities Act (or any successor or similar rule adopted by the Commission then in effect) at any time beginning on the
effective date for the Blackstone Shelf Registration Statement. The Blackstone Shelf Registration Statement shall provide for the resale
pursuant to any method or combination of methods legally available to the Blackstone Holders and requested by the Blackstone Holders.

 

(c)            The
Company shall use commercially reasonable efforts to cause the Blackstone Shelf Registration Statement to remain effective, and to be
supplemented and amended to the extent necessary to ensure that the Blackstone Shelf Registration Statement is available or, if not available,
that another Registration Statement is available, for the resale of all the Registrable Securities by the Blackstone Holders until all
of the Registrable Securities have ceased to be Registrable Securities or the earlier termination of this Agreement (as to all Blackstone
Holders) pursuant to Section 5.1 (the “Effectiveness Period”).

 

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(d)            When
the Blackstone Shelf Registration Statement is effective, (i) such Registration Statement (including the documents incorporated therein
by reference) will comply as to form in all material respects with all applicable requirements of the Securities Act and the Exchange
Act and 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 not misleading and (ii) in the case of any prospectus contained in the Blackstone Shelf Registration
Statement, such prospectus will not include any untrue statement of a material fact or omit to state a material fact necessary in order
to make the statements therein, in the light of the circumstances under which such statements are made, not misleading.

 

Section
2.2             Blackstone Underwritten Offering Requests.

 

(a)            If
the Blackstone Holders elect to dispose of Registrable Securities under a Registration Statement pursuant to an Underwritten Offering
and reasonably expects gross proceeds of at least $75 million from such Underwritten Offering, then the Company shall, at the request
(a “Blackstone Underwritten Offering Request”) of such Blackstone Holders (in such capacity, “Requesting Blackstone
Holders”), enter into an underwriting agreement, and perform its obligations thereunder, in a form as is customary in Underwritten
Offerings of securities by the Company with the underwriter or underwriters selected pursuant to Section 2.2(b) and shall
take all such other reasonable actions as are requested by the Managing Underwriter of such Underwritten Offering and the Requesting Blackstone
Holders to expedite or facilitate the disposition of such Registrable Securities (a “Blackstone Underwritten Offering”);
provided, however, that the Company shall have no obligation to facilitate or participate in more than three Blackstone Underwritten
Offerings during any 12-month period, and no more than one Blackstone Underwritten Offering in any 90-day period. Notwithstanding any
other provision of this Agreement to the contrary, the Blackstone Holders may not demand more than five Blackstone Underwritten Offerings
in the aggregate.

 

(b)            The
Blackstone Holders shall select the underwriters in any Blackstone Underwritten Offering and shall determine the pricing of the shares
of Company Common Stock offered pursuant to any Blackstone Underwritten Offering, the applicable underwriting discounts and commissions
and the timing of any Blackstone Underwritten Offering.

 

 Section 2.3            Delay and
Suspension Rights. Notwithstanding any other provision of this Agreement, the Company
may (a) delay filing or effectiveness of a Blackstone Shelf Registration Statement (or any amendment thereto) or effecting a
Blackstone Underwritten Offering or (b) suspend the Blackstone Holders’ use of any prospectus that is a part of a
Blackstone Shelf Registration Statement upon written notice to each Blackstone Holder whose Registrable Securities are included in
such Blackstone Shelf Registration Statement (provided that in no event shall such notice contain any material non-public
information regarding the Company) (in which event such Blackstone Holder shall discontinue sales of Registrable Securities pursuant
to such Registration Statement but may settle any then-contracted sales of Registrable Securities), in each case for a period of up
to 60 days, if the Board determines that (i) such delay or suspension is in the best interest of the Company and its
stockholders generally due to a pending financing or other transaction involving the Company, including a proposed sale of shares of
Company Common Stock pursuant to a registration of Company Securities, (ii) such registration or offering would render the
Company unable to comply with applicable securities laws or (iii) such registration offering would require disclosure of
material information that the Company has a bona fide business purpose for preserving as confidential (any such period, a
 “Suspension Period”); provided, however, that in no event shall any Suspension Periods collectively exceed
an aggregate of 105 days in any twelve-month period. For the purposes of calculating the number of days of one or more Suspension
Periods under this Section 2.3, such number shall include any number of days during the applicable period during which the
Blackstone Holders were obligated to discontinue their disposition of Registrable Securities pursuant to Section 2.6(b) of
this Agreement.

 

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Section
2.4             Piggyback Registration Rights.

 

(a)            Subject
to Section 2.4(c), if the Company at any time proposes to file an Underwritten Offering Filing for a Company Underwritten
Offering of shares of Company Common Stock for its own account (a “Company Underwritten Offering”), it will give written
notice of such Company Underwritten Offering to each Blackstone Holder, which notice shall be held in strict confidence by such Blackstone
Holders and shall include the anticipated filing date of the Underwritten Offering Filing and, if known, the number of shares of Company
Common Stock that are proposed to be included in such Company Underwritten Offering, and of such Blackstone Holders’ rights under
this Section 2.4(a). Such notice shall be given promptly (and in any event at least five Business Days before the filing of
the Underwritten Offering Filing or two Business Days before the filing of the Underwritten Offering Filing in connection with a bought
or overnight Underwritten Offering). Each such Blackstone Holder shall then have four Business Days (or one Business Day in the case of
a bought or overnight Underwritten Offering) after the date on which the Blackstone Holders received notice pursuant to this Section 2.4(a) to
request inclusion of Registrable Securities in the Company Underwritten Offering (which request shall specify the maximum number of Registrable
Securities intended to be disposed of by such Blackstone Holder and such other information as is reasonably required to effect the inclusion
of such Registrable Securities) (any such Blackstone Holder making such request, a “Piggyback Blackstone Holders”).
If no request for inclusion from a Blackstone Holder is received within such period, such Blackstone Holder shall have no further right
to participate in such Company Underwritten Offering. Subject to Section 2.4(c), the Company shall use its commercially reasonable
efforts to include in the Company Underwritten Offering all Registrable Securities that the Company has been so requested to include by
the Piggyback Blackstone Holders; provided, however, that if, at any time after giving written notice of a proposed Company Underwritten
Offering pursuant to this Section 2.4(a) and prior to the execution of an underwriting agreement with respect thereto,
the Company or such other Persons who have or have been granted registration rights, as applicable, shall determine for any reason not
to proceed with or to delay such Company Underwritten Offering, the Company shall give written notice of such determination to the Piggyback
Blackstone Holders (which such Blackstone Holders will hold in strict confidence) and (i) in the case of a determination not to proceed,
shall be relieved of its obligation to include any Registrable Securities in such Company Underwritten Offering (but not from any obligation
of the Company to pay the Registration Expenses in connection therewith), and (ii) in the case of a determination to delay, shall
be permitted to delay inclusion of any Registrable Securities for the same period as the delay in including the shares of Company Common
Stock to be sold for the Company’s account or for the account of such other Persons who have or have been granted registration rights,
as applicable.

 

(b)            Each
Blackstone Selling Holder shall have the right to withdraw its request for inclusion of its Registrable Securities in any Company Underwritten
Offering at any time prior to the execution of an underwriting agreement; further, any Blackstone Holder may elect not to be notified
of any Company Underwritten Offering by delivering an Opt-Out Notice to the Company in writing requesting that such Blackstone Holder
not receive notice from the Company of any proposed Company Underwritten Offering; provided, however, that such Blackstone Holder
may later revoke any such Opt-Out Notice in writing.

 

(c)            If
the Managing Underwriter of the Company Underwritten Offering shall inform the Company of its belief that the number of Registrable Securities
requested to be included in such Company Underwritten Offering, when added to the number of shares of Company Common Stock proposed to
be offered by the Company or such other Persons who have or have been granted registration rights (and any other shares of Company Common
Stock requested to be included by any other Persons having registration rights on parity with the Piggyback Blackstone Holders with respect
to such offering), would materially adversely affect such offering, then the Company shall include in such Company Underwritten Offering,
to the extent of the total number of securities which the Company is so advised can be sold in such offering without so materially adversely
affecting such offering (the “Maximum Number of Shares”), shares of Company Common Stock in the following priority:

 

(i)            First,
all shares of Company Common Stock that the Company proposes to include for its own account (the “Company Securities”);

 

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(ii)           Second,
if the Company Underwritten Offering is for the account of the Company, to the extent that the number of Company Securities is less than
the Maximum Number of Shares, or if the Company Underwritten Offering is for the account of any other Persons who have or have been granted
registration rights, the shares of Company Common Stock requested to be included by the Existing Holders, if any, pro rata among
the Existing Holders in accordance with the Existing Registration Rights Agreement;

 

(iii)          Third,
if the Company Underwritten Offering is for the account of the Company, to the extent that the number of Company Securities is less than
the Maximum Number of Shares, or if the Company Underwritten Offering is for the account of any other Persons who have or have been granted
registration rights, the shares of Company Common Stock requested to be included by the Piggyback Blackstone Holders and holders of any
other shares of Company Common Stock requested to be included by Persons having rights of registration on parity with the Piggyback Blackstone
Holders with respect to such offering, pro rata among the Piggyback Blackstone Holders and such other holders based on the number
of shares of Company Common Stock each requested to be included; and

 

(iv)          Fourth,
other securities requested to be included, if any, pro rata among the holders of such other securities.

 

(d)            The
Company shall select the underwriters in any Company Underwritten Offering and shall determine the pricing of the shares of Company Common
Stock offered pursuant to any Company Underwritten Offering, the applicable underwriting discounts and commissions and the timing of any
such Company Underwritten Offering.

 

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Section
2.5            Participation in Underwritten Offerings.

 

(a)            In
connection with any Underwritten Offering contemplated by Sections 2.2 or 2.4, the underwriting agreement into which each
Blackstone Selling Holder and the Company shall enter into shall contain such representations, covenants, indemnities (subject to Article III)
and other rights and obligations as are customary in Underwritten Offerings of securities by the Company; provided, that the Company
shall not be required to make any representations or warranties with respect to written information specifically provided by a Blackstone
Selling Holder for inclusion in the applicable Registration Statement. No Blackstone Selling Holder shall be required to make any representations
or warranties to or agreements with the Company or the underwriters other than representations, warranties or agreements regarding such
Blackstone Selling Holder’s authority to enter into such underwriting agreement and to sell, and its ownership of and title to,
the securities being registered on its behalf, its intended method of distribution and any other representation required by law.

 

(b)            Any
participation by Blackstone Holders in a Company Underwritten Offering shall be in accordance with the plan of distribution of the Company.

 

(c)            No
Blackstone Holder shall be entitled to sell any Registrable Securities in connection with any Company Underwritten Offering in which such
Blackstone Holder elects to include Registrable Securities pursuant to Section 2.4, unless such Blackstone Holder (i) supplies
any information reasonably requested by the Company in connection with the preparation of a Registration Statement and/or any other documents
relating to such registered offering, (ii) executes and delivers all agreements and other documents and instruments being executed
by all holders on substantially the same terms reasonably requested by the Company or the Managing Underwriter, as applicable, to effectuate
such registered offering, including, without limitation, underwriting agreements (subject to Section 2.5(a)), custody agreements,
questionnaires, indemnities, powers of attorney, lock-ups and “hold back” agreements, and (iii) agrees not to sell or
purchase any securities of the Company, as applicable, for the same period of time following the registered offering as is agreed to by
the Company and the other participating holders, and further agrees and consents to the entry of stop transfer instructions with the Company’s
transfer agent and registrar against the Transfer of securities of the Company beneficially owned or owned of record by such Blackstone
Holder during such period.

 

(d)            If
the Company or Managing Underwriter, as applicable, requests that the Blackstone Holders take any of the actions referred to in Section 2.5(c),
the Blackstone Holders shall take such action promptly but in any event within three Business Days following the date of such request.

 

Section
2.6             Registration Procedures.

 

(a)            In
connection with its obligations under this Article II, the Company will:

 

(i)            promptly
prepare and file with the Commission such amendments and supplements to such Registration Statement and the prospectus used in connection
therewith as may be necessary to keep such Registration Statement effective and to comply with the provisions of the Securities Act with
respect to the disposition of all securities covered by such Registration Statement until such time as all of such securities have been
disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such Registration Statement;

 

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(ii)            furnish
to each Blackstone Holder such number of conformed copies of such Registration Statement and of each such amendment and supplement thereto
(in each case including without limitation all exhibits), such number of copies of the prospectus contained in such Registration Statement
(including without limitation each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424
under the Securities Act, in conformity with the requirements of the Securities Act, and such other documents, as such Blackstone Holder
may reasonably request;

 

(iii)          if
applicable, use commercially reasonable efforts to register or qualify all Registrable Securities and other securities covered by such
Registration Statement under such other securities or blue sky laws of such jurisdictions as each Blackstone Holder thereof shall reasonably
request, to keep such registration or qualification in effect for so long as such Registration Statement remains in effect, and to take
any other action which may be reasonably necessary or advisable to enable such seller to consummate the disposition in such jurisdictions
of the securities owned by such seller, except that the Company shall not for any such purpose be required to qualify generally to do
business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iii) be obligated
to be so qualified or to consent to general service of process in any such jurisdiction;

 

(iv)          in
connection with an Underwritten Offering, use all commercially reasonable efforts to provide to each Blackstone Holder, on the date that
shares of Registrable Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters, (i) an
opinion, dated as of such date, of the counsel representing the Company for the purposes of such registration, in form and substance as
is customarily given to underwriters by the Company in an underwritten public offering, addressed to the underwriters, (ii) a letter
dated as of such date, from the independent public accountants of the Company, in form and substance as is customarily given by independent
public accountants to underwriters in an underwritten public offering, addressed to the underwriters and (iii) an engineers’
reserve report letter as of such date, from the independent petroleum engineers of the Company, in form and substance as is customarily
given by independent petroleum engineers to underwriters in an underwritten public offering, addressed to the underwriters;

 

(v)           promptly
notify each Blackstone Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, upon
discovery that, or upon the happening of any event as a result of which, the prospectus included in such Registration Statement, as then
in effect, includes an untrue statement of a material fact or omits to state any material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading, and at the request of any such seller promptly
prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary
so that, as thereafter delivered to the purchasers of such securities, such prospectus shall not include an untrue statement of a material
fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading;

 

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(vi)          promptly
notify each Blackstone Holder and any underwriters of the notification to the Company by the Commission of its initiation of any proceeding
with respect to the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement, and in the
event of the issuance of any stop order suspending the effectiveness of such Registration Statement, or of any order suspending or preventing
the use of any related prospectus or suspending the qualification of any Registrable Securities included in such Registration Statement
for sale in any jurisdiction, use its reasonable best efforts to obtain promptly the withdrawal of such order;

 

(vii)         promptly
notify each Blackstone Holders and any underwriters of the receipt by the Company of any notification with respect to the suspension of
the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction;

 

(viii)        otherwise
use its commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available
to its security holders, as soon as reasonably practicable, an earnings statement, which earnings statement shall satisfy the provisions
of Section 11(a) of the Securities Act, and shall furnish to each Blackstone Holder at least the Business Day prior to the filing
thereof a copy of any amendment or supplement to such Registration Statement or prospectus;

 

(ix)          make
available to each Blackstone Holder (i) promptly after the same is prepared and publicly distributed, filed with the Commission,
or received by the Company, one copy of each Registration Statement and any amendment thereto, each preliminary prospectus and prospectus
and each amendment or supplement thereto, each letter written by or on behalf of the Company to the Commission or the staff of the Commission
(or other governmental agency or self-regulatory body or other body having jurisdiction, including any domestic or foreign securities
exchange), and each item of correspondence from the Commission or the staff of the Commission (or other governmental agency or self-regulatory
body or other body having jurisdiction, including any domestic or foreign securities exchange), in each case relating to such Registration
Statement, and (ii) such number of copies of each prospectus, including a preliminary prospectus, and all amendments and supplements
thereto and such other documents as any Blackstone Holder or any underwriter may reasonably request in order to facilitate the disposition
of the Registrable Securities. The Company will promptly notify the Blackstone Holders of the effectiveness of each Registration Statement
or any post-effective amendment or the filing of any supplement or amendment to such Registration Statement or of any prospectus supplement.
The Company will promptly respond to any and all comments received from the Commission, with a view towards causing each Registration
Statement or any amendment thereto to be declared effective by the Commission as soon as practicable and shall file an acceleration request,
if necessary, as soon as practicable following the resolution or clearance of all Commission comments or, if applicable, following notification
by the Commission that any such Registration Statement or any amendment thereto will not be subject to review;

 

(x)            take
no direct or indirect action prohibited by Regulation M under the Exchange Act; provided, that, to the extent that any prohibition is
applicable to the Company, the Company will take all reasonable action to make any such prohibition inapplicable;

 

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(xi)          provide
and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by such Registration Statement from and
after a date not later than the effective date of such Registration Statement;

 

(xii)         cause
all Registrable Securities covered by such Registration Statement to be listed on a national securities exchange or trading system (if
any) and on any securities exchange on which the Company Common Stock is then listed;

 

(xiii)         if
requested by the Blackstone Holders, cooperate with the Blackstone Holders and the Managing Underwriter (if any) to facilitate the timely
preparation and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law) representing
securities sold under the Registration Statement, and enable such securities to be in such denominations and registered in such names
as such Blackstone Holders or the Managing Underwriter (if any) may request and keep available and make available to the Company’s
transfer agent prior to the effectiveness of such Registration Statement a supply of such certificates;

 

(xiv)        enter
into such customary agreements and take such other actions as the Blackstone Holders shall reasonably request in order to expedite or
facilitate the disposition of such Registrable Securities (including, in the case of a Blackstone Underwritten Offering or Company Underwritten
Offering, to agree, and to cause its directors and “executive officers” (as defined under Section 16 of the Exchange
Act) to agree, to such “lock-up” arrangements for up to 30 days with the underwriters thereof to the extent reasonably requested
by the Managing Underwriters, subject to exceptions for permitted sales by directors and executive officers during such period consistent
with underwritten offerings previously conducted by the Company); and

 

(xv)         until
the six month anniversary of the date of this Agreement, in connection with any transaction or series of anticipated transactions (a) effected
pursuant to the Blackstone Shelf Registration Statement, (b) with reasonably anticipated gross proceeds in excess of $75 million
or involving Registrable Securities having a fair market value in excess of $75 million and (c) involving a broker, agent, counterparty,
underwriter, bank or other financial institution (“Financial Counterparty”), to the extent reasonably requested by
the Financial Counterparty in order to engage in the proposed transaction, the Company will use its commercially reasonable efforts to
cooperate with the Blackstone Holders to allow the Financial Counterparty to conduct customary “underwriter’s due diligence”
with respect to the Company.

 

(b)            Each
Blackstone Holder agrees by acquisition of such Registrable Securities that upon receipt of any notice from the Company of the happening
of any event of the kind described in Section 2.6(a)(v) or Section 2.6(a)(vi), such Blackstone Holder will
forthwith discontinue such Blackstone Holder’s disposition of Registrable Securities pursuant to the Registration Statement until
such Blackstone Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by Section 2.6(a)(v) or
Section 2.6(a)(vi), as applicable, as filed with the Commission or until it is advised in writing by the Company that the
use of such Registration Statement may be resumed, and, if so directed by the Company, will deliver to the Company (at the Company’s
expense) all copies, other than permanent file copies, then in such Blackstone Holder’s possession of the prospectus relating to
such Registrable Securities current at the time of receipt of such notice. The Company may provide appropriate stop orders to enforce
the provisions of this Section 2.6(b).

 

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Section 2.7            Cooperation
by Blackstone Holders. The Company shall have no obligation to include Registrable Securities
of a Blackstone Holder in any Registration Statement or Underwritten Offering if such Blackstone Holder fails to timely furnish such
information that the Company determines, after consultation with its counsel, is reasonably required for any registration statement or
prospectus supplement, as applicable, to comply with the Securities Act.

 

Section 2.8           Expenses.
The Company shall be responsible for all Registration Expenses incident to its performance of or compliance with its obligations under
this Article II. Each Blackstone Selling Holder shall pay its pro rata share of all Selling Expenses in connection
with any sale of its Registrable Securities hereunder.

 

Section 2.9           Other
Registration Rights. From and after the Effective Time, the Company shall not, without the
prior written consent of the Blackstone Holders, enter into any agreement with any current or future holder of any securities of the
Company (other than the Existing Holders) that would allow such current or future holder to require the Company to include securities
in any registration statement filed by the Company for the Blackstone Holders on a basis other than pari passu with, or expressly
subordinate to, the piggyback rights of the Blackstone Holders hereunder; provided, that in no event shall the Company enter into
any agreement that would provide another holder of securities of the Company (other than the Existing Holders) the right to participate
in a Blackstone Underwritten Offering.

 

Section 2.10         Opt-Out
Notices. Any Blackstone Holder may deliver written notice (an “Opt-Out Notice”)
to the Company requesting that such Blackstone Holder not receive notice from the Company of the proposed filing of any Blackstone Underwritten
Offering, Company Underwritten Offering, the withdrawal of any Blackstone Underwritten Offering or Company Underwritten Offering or any
event that could lead to a Suspension Period, in which case the Company shall not be required to provide such notice(s); provided,
however, that such Blackstone Holder may later revoke any such Opt-Out Notice in writing.

 

Section
2.11          Lock-up
Restrictions.

 

(a)            Except
as permitted by Section 2.11(b), for a period of 60 days from the date of the Closing (the “Lock-up Period”),
no Blackstone Holder shall Transfer any Registrable Securities beneficially owned or owned of record by such Blackstone Holder (including
securities held as a custodian), except to a Permitted Transferee.

 

(b)            Notwithstanding
the provisions set forth in Section 2.11(a), Transfers of Registrable Securities beneficially owned or owned of record by
a Blackstone Holder are permitted (i) by virtue of the governing documents of such Blackstone Holder or by virtue of the laws of
the jurisdiction of formation of such Blackstone Holder upon such Blackstone Holder’s dissolution; and (ii) in the event of
the Company’s liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of the
Company’s stockholders having the right to exchange their shares of Company Common Stock for cash, securities or other property.

 

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(c)            Each
Blackstone Holder hereby represents and warrants that it now has, and except as contemplated by this Section 2.11(c), for
the duration of the applicable Lock-up Period will have, good and marketable title to its Registrable Securities, free and clear of all
liens, encumbrances, and claims that could impact the ability of such Blackstone Holder to comply with the foregoing restrictions. Each
Blackstone Holder agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar
against the Transfer of securities of the Company beneficially owned or owned of record by such Blackstone Holder during the Lock-up Period.

 

Article III

INDEMNIFICATION AND CONTRIBUTION

 

Section 3.1           Indemnification
by the Company. The Company will indemnify and hold harmless each Blackstone Selling Holder,
its officers and directors and each Person (if any) that controls such Blackstone Holder within the meaning of either Section 15
of the Securities Act or Section 20 of the Exchange Act from and against any and all losses, claims, damages, liabilities, costs
and expenses (including attorneys’ fees) (“Losses”) caused by, arising out of, resulting from or related to any untrue
statement or alleged untrue statement of a material fact (a) contained in any Registration Statement relating to the Registrable
Securities (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto), or any omission or
alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading
or (b) included in any prospectus relating to the Registrable Securities (as amended or supplemented if the Company shall have furnished
any amendments or supplements thereto) or any preliminary prospectus, or any omission or alleged omission to state therein a material
fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading,
provided, however, that such indemnity shall not apply to that portion of such Losses caused by, or arising out of, any untrue
statement, or alleged untrue statement or any such omission or alleged omission, to the extent such statement or omission was made in
reliance upon and in conformity with information furnished in writing to the Company by or on behalf of such Blackstone Holder expressly
for use therein.

 

Section 3.2           Indemnification
by the Blackstone Holders. The Blackstone Holders agree to indemnify and hold harmless the
Company, its officers and directors and each Person (if any) that controls the Company within the meaning of either Section 15 of
the Securities Act or Section 20 of the Exchange Act from and against any and all Losses caused by, arising out of, resulting from
or related to any untrue statement or alleged untrue statement of a material fact (a) contained in any Registration Statement relating
to Registrable Securities (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto), or
any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein
not misleading or (b) included in any prospectus relating to the Registrable Securities (as amended or supplemented if the Company
shall have furnished any amendments or supplements thereto) or any preliminary prospectus, or any omission or alleged omission to state
therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made,
not misleading, only to the extent such statement or omission was made in reliance upon and in conformity with information furnished
in writing by or on behalf of such Blackstone Holder expressly for use in any Registration Statement or prospectus relating to the Registrable
Securities, or any amendment or supplement thereto, or any preliminary prospectus.

 

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Section 3.3           Indemnification
Procedures. In case any proceeding (including any governmental investigation) shall be instituted
involving any Person in respect of which indemnity may be sought pursuant to Section 3.1 or 3.2, such Person (the
 “Indemnified Party”) shall promptly notify the Person against whom such indemnity may be sought (the “Indemnifying
Party”) in writing (provided that the failure of the Indemnified Party to give notice as provided herein shall not relieve the
Indemnifying Party of its obligations under this Article III, except to the extent the Indemnifying Party is actually prejudiced
by such failure to give notice), and the Indemnifying Party shall be entitled to participate in such proceeding and, unless in the reasonable
opinion of outside counsel to the Indemnified Party a conflict of interest between the Indemnified Party and Indemnifying Party may exist
in respect of such claim, to assume the defense thereof jointly with any other Indemnifying Party similarly notified, to the extent that
it chooses, with counsel reasonably satisfactory to such Indemnified Party, and after notice from the Indemnifying Party to such Indemnified
Party that it so chooses, the Indemnifying Party shall not be liable to such Indemnified Party for any legal or other expenses subsequently
incurred by such Indemnified Party in connection with the defense thereof other than reasonable costs of investigation; provided,
however, that (a) if the Indemnifying Party fails to assume the defense or employ counsel reasonably satisfactory to the
Indemnified Party, (b) if such Indemnified Party who is a defendant in any action or proceeding which is also brought against the
Indemnifying Party reasonably shall have concluded that there may be one or more legal defenses available to such Indemnified Party which
are not available to the Indemnifying Party or (c) if representation of both parties by the same counsel is otherwise inappropriate
under applicable standards of professional conduct then, in any such case, the Indemnified Party shall have the right to assume or continue
its own defense as set forth above (but with no more than one firm of counsel for all Indemnified Parties in each jurisdiction, except
to the extent any Indemnified Party reasonably shall have concluded that there may be legal defenses available to such party or parties
which are not available to the other Indemnified Parties or to the extent representation of all Indemnified Parties by the same counsel
is otherwise inappropriate under applicable standards of professional conduct) and the Indemnifying Party shall be liable for any expenses
therefor. No Indemnifying Party shall, without the written consent of the Indemnified Party, effect the settlement or compromise of,
or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification
or contribution may be sought hereunder (whether or not the Indemnified Party is an actual or potential party to such action or claim)
unless such settlement, compromise or judgment (i) includes an unconditional release of the Indemnified Party from all liability
arising out of such action or claim 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.

 

Section
3.4            Contribution.

 

(a)            If
the indemnification provided for in this Article III is unavailable to an Indemnified Party in respect of any Losses in respect
of which indemnity is to be provided hereunder, then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall to
the fullest extent permitted by law 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 such party in connection with the statements or omissions that resulted
in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Company
(on the one hand) and a Blackstone Holder (on the other hand) shall be determined by reference to, among other things, whether the untrue
or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied
by such party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement
or omission.

 

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(b)            The
Company and the Blackstone Holders agree that it would not be just and equitable if contribution pursuant to this Article III
were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations
referred to in Section 3.4(a). The amount paid or payable by an Indemnified Party as a result of the Losses referred to in
Section 3.4(a) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably
incurred by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions
of this Article III, no Blackstone Holder shall be liable for indemnification or contribution pursuant to this Article III
for any amount in excess of the net proceeds of the offering received by such Blackstone Holder, less the amount of any damages which
such Blackstone 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.

 

Article IV

RULE 144

 

With a view to making available
the benefits of certain rules and regulations of the Commission that may permit the resale of the Registrable Securities without
registration, the Company agrees to use its commercially reasonable efforts to:

 

(a)            make
and keep public information regarding the Company available, as those terms are understood and defined in Rule 144 under the Securities
Act, at all times from and after the Effective Time;

 

(b)            file
with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange
Act at all times from and after the Effective Time; and

 

(c)            so
long as a Blackstone Holder owns any Registrable Securities, furnish (i) to the extent accurate, forthwith upon request, a written
statement of the Company that it has complied with the reporting requirements of Rule 144 under the Securities Act and (ii) unless
otherwise available via the Commission’s EDGAR filing system, to such Blackstone Holder forthwith upon request a copy of the most
recent annual or quarterly report of the Company, and such other reports and documents so filed as such Blackstone Holder may reasonably
request in availing itself of any rule or regulation of the Commission allowing such Blackstone Holder to sell any such securities
without registration.

 

    16

     

    

 

Article V

MISCELLANEOUS

 

Section 5.1           Effectiveness.
This Agreement shall not become effective until the Effective Time and shall thereafter be effective until terminated in accordance with
the terms of this Agreement. In the event that the Merger Agreement is terminated prior to the consummation of the transactions contemplated
thereby, this Agreement and all the terms hereunder shall also terminate, regardless of any other provisions set forth in this Agreement.

 

Section 5.2           Termination.
After effectiveness in accordance with Section 5.1, this Agreement shall terminate, and the parties shall have no
further rights or obligations hereunder on the date when there shall no longer be any Registrable Securities outstanding.

 

Section 5.3           Transfer
of Rights. The rights to registration and other rights under this Agreement may be assigned
to a Transferee of Registrable Securities if (a) such Blackstone Holder shall give the Company written notice prior to the time
of such assignment stating the name and address of the Transferee and identifying the securities with respect to which the rights under
this Agreement are being assigned; (b) such Transferee has delivered to the Company a duly executed Adoption Agreement; (c) such
Registrable Securities remain Registrable Securities following such assignment; and (d) immediately following such assignment the
further disposition of such securities by such Transferee shall be restricted to the extent set forth under applicable law. For the avoidance
of doubt, no assignment by any Blackstone Holder of such Blackstone Holder’s rights, duties and obligations hereunder shall be
binding upon or obligate the Company unless and until the Company shall have received (i) written notice of such assignment in accordance
with Section 5.8 and (ii) a duly executed Adoption Agreement from such Transferee. Any Transfer or assignment made other
than as provided in this Section 5.3 shall be null and void.

 

Section 5.4           Severability.
If any provision of this Agreement shall be determined to be illegal and unenforceable by any court of law, the remaining provisions
shall be severable and enforceable in accordance with their terms.

 

Section
5.5             Governing Law;
Waiver of Jury Trial.

 

(a)            This
Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to principles of conflicts
of laws that would direct the application of the laws of another jurisdiction.

 

(b)            THE
PARTIES HEREBY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PARTY AGAINST ANOTHER IN ANY MATTER WHATSOEVER
ARISING OUT OF OR IN RELATION TO OR IN CONNECTION WITH THIS AGREEMENT. FURTHER, NOTHING HEREIN SHALL DIVEST A COURT OF COMPETENT JURISDICTION
OF THE RIGHT AND POWER TO GRANT A TEMPORARY RESTRAINING ORDER, TO GRANT TEMPORARY INJUNCTIVE RELIEF, OR TO COMPEL SPECIFIC PERFORMANCE
OF ANY DECISION OF AN ARBITRAL TRIBUNAL MADE PURSUANT TO THIS PROVISION.

 

Section 5.6           Adjustments
Affecting Registrable Securities. The provisions of this Agreement shall apply to any and
all shares of capital stock of the Company or any successor or assignee of the Company (whether by merger, consolidation, division, sale
of assets or otherwise) which may be issued in respect of, in exchange for or in substitution for Registrable Securities, by reason of
any stock dividend, split, reverse split, combination, recapitalization, reclassification, merger, consolidation, division or otherwise
in such a manner and with such appropriate adjustments as to reflect the intent and meaning of the provisions hereof and so that the
rights, privileges, duties and obligations hereunder shall continue with respect to the capital stock of the Company as so changed.

 

    17

     

    

 

Section 5.7           Binding
Effects; Benefits of Agreement. This Agreement shall be binding upon and inure to the benefit
of the Company and its successors and assigns and each Blackstone Holder and its successors and assigns. Except as provided in Section 5.3,
neither this Agreement nor any of the rights, benefits or obligations hereunder may be assigned or transferred, by operation of law or
otherwise, by any Blackstone Holder without the prior written consent of the Company.

 

Section 5.8           Notices.
All notices or other communications which are required or permitted hereunder shall be in writing and shall be deemed to have been given
if (a) personally delivered, (b) sent by nationally recognized overnight courier, (c) sent by registered or certified
mail, postage prepaid, return receipt requested, or (d) sent by email. Such notices and other communications must be sent to the
following addresses or email addresses:

 

(a)            If
to the Company, to:

 

	Chesapeake Energy Corporation 
	6100 North Western Ave. 
	Oklahoma City, Oklahoma 73118 
	Attention:	Benjamin E. Russ 
	E-mail:	ben.russ@chk.com

 

with copies (which shall not constitute
notice) to: 

 

Latham & Watkins LLP

811 Main Street, Suite 3700 

Houston, Texas 77002

Attention: 

William N. Finnegan IV 

Kevin
M. Richardson

 

E-mail: 

bill.finnegan@lw.com 

kevin.richardson@lw.com

 

(b)            If
to the Blackstone Holders, to: 

 

	Blackstone Inc. 
	345 Park Avenue 
	New York, New York 10154 
	Attention:	Angelo Acconcia 
	Email:	acconcia@blackstone.com

 

    18

     

    

 

with copies (which shall not constitute
notice) to:

 

Weil, Gotshal & Manges LLP 

767 5th Avenue 

New York, NY 10153 

Attention:     Raymond
O. Gietz 

Facsimile:     (212)
310-8007 

Email:          raymond.gietz@weil.com 

and

 

Weil, Gotshal & Manges LLP 

700 Louisiana Street, Suite 1700 

Houston, TX 77002 

Attention:     Jeffery
K. Malonson 

Facsimile:     (713)
546-5050 

Email:          jeff.malonson@weil.com

 

or to such other address or email address as the
party to whom notice is to be given may have furnished to such other party in writing in accordance herewith. Any such communication shall
be deemed to have been received (a) when delivered, if personally delivered, (b) the next Business Day after delivery, if sent
by nationally recognized, overnight courier, (c) on the second Business Day following the date on which the piece of mail containing
such communication is posted, if sent by first-class mail or (d) on the date sent, if sent by email during normal business hours
of the recipient or on the next Business Day, if sent by email after normal business hours of the recipient.

 

Section 5.9           Modification;
Waiver. This Agreement may be amended, modified or supplemented only by a written instrument
duly executed by the Company and the Blackstone Holders. No course of dealing between the Company and the Blackstone Holders (or any
of them) or any delay in exercising any rights hereunder will operate as a waiver of any rights of any party to this Agreement. The failure
of any party to enforce any of the provisions of this Agreement will in no way be construed as a waiver of such provisions and will not
affect the right of such party thereafter to enforce each and every provision of this Agreement in accordance with its terms.

 

Section 5.10         Entire
Agreement. Except as otherwise expressly provided herein, this Agreement constitutes the
entire agreement among the parties pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements and
understandings of the parties in connection therewith.

 

Section 5.11         Counterparts.
This Agreement may be executed in any number of counterparts, and each such counterpart shall be deemed to be an original instrument,
but all such counterparts taken together shall constitute but one agreement.

 

[signature page follows]

 

    19

     

    

 

IN WITNESS WHEREOF, each of
the Parties has caused this Agreement to be executed by its undersigned duly authorized representative as of the date first written above.

 

	 	CHESAPEAKE ENERGY CORPORATION
	 	 
	 	By:	/s/ Benjamin E. Russ
	 	Name:	Benjamin E. Russ
	 	Title:	 Executive Vice President, General
	 	 	Counsel and Corporate Secretary

 

SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT

 

    

     

    

 

	 	BRIX INVESTMENT LLC
	 	 
	 	By:	/s/ Angelo Acconcia
	 	Name:	Angelo Acconcia
	 	Title:	President

 

	 	BRIX INVESTMENT II LLC
	 	 
	 	By:	/s/ Angelo Acconcia
	 	Name:	Angelo Acconcia
	 	Title:	President

 

	 	HARVEST INVESTMENT LLC
	 	 
	 	By:	/s/ Angelo Acconcia
	 	Name:	Angelo Acconcia
	 	Title:	President

 

	 	HARVEST INVESTMENT II LLC
	 	 
	 	By:	/s/ Angelo Acconcia
	 	Name:	Angelo Acconcia
	 	Title:	President

 

	 	VINE INVESTMENT LLC
	 	 
	 	By:	/s/ Angelo Acconcia
	 	Name:	Angelo Acconcia
	 	Title:	President

 

	 	VINE INVESTMENT II LLC
	 	 
	 	By:	/s/ Angelo Acconcia
	 	Name:	Angelo Acconcia
	 	Title:	President

 

SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT

 

    

     

    

 

Exhibit A

 

ADOPTION AGREEMENT

 

This Adoption Agreement (“Adoption
Agreement”) is executed by the undersigned transferee (“Transferee”) pursuant to the terms of the Registration
Rights Agreement (as amended from time to time, the “Registration Rights Agreement”), dated as of August 10, 2021,
among Chesapeake Energy Corporation, an Oklahoma corporation (the “Company”), Brix Investment LLC, Brix Investment
II LLC, Harvest Investment LLC, Harvest Investment II LLC, Vine Investment LLC and Vine Investment II LLC, and any Transferees thereof,
that hold Registrable Securities (the “Blackstone Holders”). Terms used and not otherwise defined in this Adoption
Agreement have the meanings set forth in the Registration Rights Agreement.

 

By the execution of this Adoption
Agreement, the Transferee agrees as follows:

 

1.            Acknowledgement.
Transferee acknowledges that Transferee is acquiring certain shares of Company Common Stock subject to the terms and conditions of Registration
Rights Agreement, among the Company and the Blackstone Holders.

 

2.            Agreement.
Transferee (a) agrees that the shares of Company Common Stock acquired by Transferee shall be bound by and subject to the terms of
the Registration Rights Agreement, pursuant to the terms thereof, and (b) hereby adopts the Registration Rights Agreement with the
same force and effect as if he, she or it were originally a party thereto.

 

3.            Notice.
Any notice required as permitted by the Registration Rights Agreement shall be given to Transferee at the address listed below Transferee’s
signature.

 

4.            Joinder.
The spouse of the undersigned Transferee, if applicable, executes this Adoption Agreement to acknowledge its fairness and that it is in
such spouse’s best interest, and to bind such spouse’s community interest, if any, in the shares of Company Common Stock and
other securities referred to above and in the Registration Rights Agreement, to the terms of the Registration Rights Agreement.

 

	 	Signature:
	 	 
	 	 
	 	Address:
	 	 
	 	 
	 	 
	 	Contact Person:	 
	 	 
	 	Telephone Number:	 
	 	 
	 	Email:Document

Exhibit 4.1

			
	

THE SCOTTS MIRACLE-GRO COMPANY, as Issuer 
THE GUARANTORS PARTY HERETO, as Guarantors
AND
U.S. BANK NATIONAL ASSOCIATION, 
as Trustee

_________________
5.250% Senior Notes due 2026

FOURTH SUPPLEMENTAL INDENTURE DATED AS OF 
June 24, 2021
TO THE INDENTURE DATED AS OF 
December 15, 2016
_________________

			
	

FOURTH SUPPLEMENTAL INDENTURE
This FOURTH SUPPLEMENTAL INDENTURE, dated as of June 24, 2021 (this “Fourth Supplemental Indenture”), is by and among The Scotts Miracle-Gro Company, an Ohio corporation (such corporation and any successor, the “Company”), the existing Guarantors (as defined in the Indenture referred to herein) (the “Existing Guarantors”), The Hawthorne Collective, Inc., an Ohio corporation (the “New Guarantor”), and U.S. Bank National Association, a national banking association, as trustee under the Indenture referred to herein (such corporation and any successor, the “Trustee”).  The New Guarantor and the Existing Guarantors are sometimes referred to collectively herein as the “Guarantors,” or individually as a “Guarantor.”  Capitalized terms not otherwise defined in this Fourth Supplemental Indenture will have the meanings given to them in the Indenture (as defined below).
WITNESSETH:
WHEREAS, the Company, the Existing Guarantors and the Trustee are parties to an indenture, dated as of December 15, 2016, as supplemented by that First Supplemental Indenture, dated as of July 17, 2018, as further supplemented by that Second Supplemental Indenture, dated as of March 24, 2020, and as further supplemented by that Third Supplemental Indenture, dated as of March 29, 2021 (the “Indenture”), relating to the Company’s 5.250% Senior Notes due 2026 (the “Securities”);
WHEREAS, pursuant to Section 9.01(5) of the Indenture, without the consent of any Holders, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more supplemental indentures, in form satisfactory to the Trustee, to add any Person as a Guarantor; and
WHEREAS, all conditions precedent provided for in the Indenture relating to this Fourth Supplemental Indenture have been complied with.
NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the New Guarantor, the Existing Guarantors, the Company and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as follows:
1.Definitions.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.
2.Joinder of New Guarantor.  The New Guarantor hereby joins in the Indenture as a “Guarantor” thereunder.  The New Guarantor hereby assumes the duties and obligations of Guarantors under the Indenture.  The New Guarantor agrees to keep and perform all of the covenants, obligations and conditions of Guarantors under the Indenture, on the terms and subject to the conditions set forth in Article X of the Indenture, and to be bound by all other applicable provisions of the Indenture.  Upon request from time to time by the Trustee, the New Guarantor shall execute and deliver to the Trustee a notation relating to the New Guarantor’s Guarantee, substantially in the form attached as Exhibit E to the Indenture.

3.Effect of Fourth Supplemental Indenture.  Except as amended by this Fourth Supplemental Indenture, the terms and provisions of the Indenture shall remain in full force and effect.
4.Governing Law.  THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS FOURTH SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.
5.Counterparts.  The parties may sign any number of copies of this Fourth Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.  This Fourth Supplemental Indenture may be executed in multiple counterparts which, when taken together, shall constitute one instrument.
6.Effect of Headings.  The section headings herein are for convenience only and shall not affect the construction hereof.
7.Trustee.  Except as otherwise expressly provided herein, no duties, responsibilities or liabilities are assumed, or shall be construed to be assumed, by the Trustee by reason of this Fourth Supplemental Indenture.  This Fourth Supplemental Indenture is executed and accepted by the Trustee subject to all the terms and conditions set forth in the Indenture.

[Remainder of Page Intentionally Left Blank; Signature Pages Follow]

2

IN WITNESS WHEREOF, the parties hereto have caused this Fourth Supplemental Indenture to be duly executed and delivered all as of the day and year first above written.
						
	COMPANY:
	THE SCOTTS MIRACLE-GRO COMPANY

	By:	/S/ LEONARD R. ESSEX
	Name:	Leonard R. Essex
	Title:	Vice President and Corporate Treasurer

						
	NEW GUARANTOR:
	THE HAWTHORNE COLLECTIVE, INC.

	By:	/S/ ALBERT J. MESSINA
	Name:	Albert J. Messina
	Title:	Treasurer

						
	EXISTING GUARANTORS:
	AEROGROW INTERNATIONAL, INC.
HYPONEX CORPORATION
MIRACLE-GRO LAWN PRODUCTS, INC.
ROD MCLELLAN COMPANY
SANFORD SCIENTIFIC, INC.
SCOTTS LIVE GOODS HOLDINGS, INC.
SCOTTS MANUFACTURING COMPANY
SCOTTS PRODUCTS CO.
SCOTTS PROFESSIONAL PRODUCTS CO.
SCOTTS TEMECULA OPERATIONS, LLC
SMG GROWING MEDIA, INC.
SMGM LLC
THE SCOTTS COMPANY LLC
1868 VENTURES LLC

	By:	/S/ LEONARD R. ESSEX
	Name:	Leonard R. Essex
	Title:	Vice President and Treasurer

S-1

						
	HAWTHORNE HYDROPONICS LLC
THE HAWTHORNE GARDENING COMPANY

	By:	/S/ ALBERT J. MESSINA
	Name:	Albert J. Messina
	Title:	Vice President and Treasurer

						
	HGCI, INC.

	By:	/S/ ALBERT J. MESSINA
	Name:	Albert J. Messina
	Title:	Vice President

						
	OMS INVESTMENTS, INC.
SWISS FARMS PRODUCTS, INC.
SCOTTS-SIERRA INVESTMENTS LLC

	By:	/S/ GREGORY A. LIENING
	Name:	Gregory A. Liening
	Title:	President and CEO

						
	GENSOURCE, INC.

	By:	/S/ LEONARD R. ESSEX
	Name:	Leonard R. Essex
	Title:	Treasurer

S-2

						
	TRUSTEE:
	U.S. BANK NATIONAL ASSOCIATION

	By:	/S/ KATHERINE ESBER
	Name:	Katherine Esber
	Title:	Vice President

S-3

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