Document:

Exhibit

Exhibit 10.1

Telenav, Inc.
4655 Great America Parkway, Suite 300
Santa Clara, CA 95054
August 24, 2016
Nokomis Capital, L.L.C.
2305 Cedar Springs Road, Suite 420
Dallas, TX 75201
Attn:    Brett Hendrickson
Wes Cummins
Gentlemen:
This letter (this “Agreement”) constitutes the agreement between Telenav, Inc. (the “Company”), on the one hand, and Nokomis Capital, L.L.C. (“Nokomis”) and each of the other related Persons (as defined below) set forth on the signature pages to this Agreement (collectively with Nokomis, the “Nokomis Group”), on the other hand. The Nokomis Group and its Affiliates (as defined below) and Associates (as defined below) are collectively referred to as the “Investors.”
1.    As promptly as practicable following the date of this Agreement, (a) Richard Todaro will resign from the Company’s Board of Directors (the “Board”) and will consent to the filing of a Form 8-K regarding his resignation with no objections or other comments; (b) the Board will agree to the acceleration of 25% of the restricted stock units granted to Mr. Todaro on the date that he became a member of the Board and the Company and Mr. Todaro will enter into a separation agreement pursuant to which Mr. Todaro will agree to customary nondisparagement and nondisclosure provisions as consideration for such acceleration; and (c) the Board will then take all action necessary to appoint Wes Cummins (the “Nokomis Designee”) to the Board as a Class I director with a term expiring at the Company’s 2016 Annual Meeting of Stockholders (the “2016 Annual Meeting”). Mr. Todaro will not be nominated to stand for election to the Board at the 2016 Annual Meeting.
2.    The Board and all applicable committees of the Board will take all action necessary to include the Nokomis Designee on the Company’s slate of nominees standing for election at the 2016 Annual Meeting and the Company will recommend and solicit proxies for the election of the Nokomis Designee at the 2016 Annual Meeting in the same manner as for the other nominees nominated by the Board at the 2016 Annual Meeting.

-1-

3.    The Company and Nokomis will cooperate to identify a mutually acceptable “independent” director to join the Board as a Class II director with a term expiring at the Company’s 2017 Annual Meeting of Stockholders (the “New Director”) as promptly as practicable following the execution of this Agreement. Unless otherwise mutually agreed between the Company and Nokomis, if the Company and Nokomis are not able to identify a mutually acceptable candidate for New Director after good faith efforts before January 30, 2017, (a) the Company will appoint Brett Hendrickson (the “Intermediary Director”) to the Board as a Class II director; and (b) the Company and Nokomis will continue to cooperate to identify a mutually acceptable “independent” director to join the Board as a Class II director. Unless otherwise mutually agreed between the Company and Nokomis, once the Company and Nokomis identify a mutually acceptable candidate for the New Director, Mr. Hendrickson will resign from the Board and the Company will appoint the New Director to the Board immediately after such resignation. Mr. Hendrickson will cooperate with the Company to make the transition.
4.    During the Restricted Period, the authorized size of the Board shall not exceed eight members and the Company shall not take any action to reconstitute or reconfigure the classes in which the directors serve without the consent of Nokomis.
5.    During the Restricted Period, the Board will take all necessary steps to appoint the Nokomis Designee as a member of the Nominating & Governance Committee. Other than as provided in the previous sentence, the Board will determine the membership of the Board’s committees in accordance with its usual practices.
6.    During the Restricted Period, if the Nokomis Designee ceases to be a member of the Board for any reason, then the Nokomis Group will be entitled to designate (and the Board will promptly appoint) another person (a “Nokomis Successor Designee”) to serve as a director in place of the Nokomis Designee. Any Nokomis Successor Designee must (a) be qualified to serve as a member of the Board under all applicable corporate governance policies or guidelines of the Company and the Board and applicable legal, regulatory and stock market requirements; (b) meet the independence requirements with respect to the Company of the listing rules of The NASDAQ Stock Market LLC or any successor thereto; and (c) be reasonably acceptable to the members of the Board in the good faith exercise of their fiduciary duties. If any Nokomis Successor Designee does not meet the requirements of this paragraph 6, then the Nokomis Group may designate another person as the Nokomis Successor Designee until an acceptable designee is found. Upon becoming a member of the Board, the Nokomis Successor Designee will succeed to all of the rights and privileges, and will be bound by the terms and conditions, of the Nokomis Designee under this Agreement.

-2-

7.    The Investors understand that, as a condition to the appointment of the Nokomis Designee and the Intermediary Director or the New Director, the Company may require the Nokomis Designee, the Intermediary Director or the New Director to agree in writing, during the term of any service as a director of the Company, to (a) comply with all policies, procedures, processes, codes, rules, standards and guidelines applicable to members of the Board, including, without limitation, the Company’s code of conduct, insider trading policy, Regulation FD policy, related party transactions policy and corporate governance guidelines, in each case as amended from time to time; and (b) keep confidential and not publicly disclose discussions and matters considered in meetings of the Board and its committees or other confidential information of the Company that the Nokomis Designee, the Intermediary Director or the New Director receives from the Company, unless previously disclosed publicly by the Company.
8.    Notwithstanding anything to the contrary in this Agreement, the Nokomis Designee, the Intermediary Director or the New Director during his/her term of service as a director of the Company, will not be prohibited from acting in his/her capacity as a director or from complying with his/her fiduciary duties as a director of the Company (including, without limitation, voting on any matter submitted for consideration by the Board, participating in deliberations or discussions of the Board and making suggestions or recommendations or raising issues to the Board), all in accordance with the agreement set forth in paragraph 7.
9.    During the Restricted Period, at each annual or special meeting of the Company’s stockholders, the Nokomis Group will cause the Investors to (a) cause all Voting Securities (as defined below) beneficially owned by them to be present for quorum purposes; and (b) vote all Voting Securities beneficially owned by them in a manner consistent with the recommendation of the Board.
10.    The Nokomis Designee, the Intermediary Director or the New Director will be (a) compensated for his/her service as a director and will be reimbursed for his/her expenses on the same basis as all other non-employee directors of the Company other than Ken Xie; (b)  granted equity-based compensation and other benefits on the same basis as all other non-employee directors of the Company other than Mr. Xie; and (c) entitled to the same rights of indemnification and directors’ and officers’ liability insurance coverage as the other non-employee directors of the Company as such rights may exist from time to time.
11.    From the date of this Agreement until 11:59 p.m., Pacific time, on the day that is 15 days prior to the deadline for the submission of director nominations in respect of the 2017 Annual Meeting of Stockholders (such period, the “Restricted Period”), the Nokomis Group will not, and the Nokomis Group will cause each of the Investors and its and their respective Affiliates, Associates principals, directors, general partners, officers, employees, agents and representatives acting on its respective behalf not to, in any way, directly or indirectly (in each case, except as expressly permitted by this Agreement):

-3-

(a)    (i) make, participate in or encourage any “solicitation” (as such term is used in the proxy rules of the Securities and Exchange Commission (the “SEC”)) of proxies with respect to the election or removal of directors or any other matter or proposal; (ii) become a “participant” (as such term is used in the proxy rules of the SEC) in any such solicitation of proxies or consents; or (iii) seek to advise, encourage or influence any Person with respect to the voting of any Voting Securities; provided, however, that except as set forth in paragraph 9, nothing herein shall be interpreted to restrict the Investors’ ability to vote their shares on any proposal duly brought before the Company’s stockholders as each member of the Investors determines in its sole discretion;
(b)    initiate, propose or otherwise “solicit” (as such term is used in the proxy rules of the SEC), directly or indirectly, the Company’s stockholders for the approval of any shareholder proposal, whether made pursuant to Rule 14a-4 or Rule 14a-8 promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise, or cause or encourage any Person to initiate or submit any such shareholder proposal;
(c)    (i) seek, alone or in concert with others, election or appointment to, or representation on, the Board or nominate or propose the nomination of, or recommend the nomination of, any candidate to the Board; (ii) seek, alone or in concert with others, the removal of any member of the Board; or (iii) make a request for any stockholder list or other similar Company records provided, however, that nothing herein shall prohibit the Nokomis Designee from doing so in his capacity as a director;
(d)    (i) form or join (whether or not in writing) in a partnership, limited partnership, syndicate or other group, including, without limitation, a “group” as defined pursuant to Section 13(d) of the Exchange Act, with respect to any Voting Securities (other than any group comprised solely of Investors); (ii) deposit any Voting Securities into a voting trust, arrangement or agreement; or (iii) subject any Voting Securities to any voting trust, arrangement or agreement, in each case other than solely with other Affiliates of the Nokomis Group with respect to Voting Securities now or hereafter owned by them;
(e)    act, alone or in concert with others, to (i) control or seek to control, or influence or seek to influence, the management, the Board or the policies of the Company (including, without limitation, any material change to the capitalization or dividend policy of the Company or any material change in the Company’s management, business or corporate structure); provided, however, that nothing herein shall limit the Investors’ ability to communicate their views with respect to the aforementioned privately to the Board and management of the Company; or (ii) seek, propose or make any public statement with respect to any merger, consolidation, business combination, tender or exchange offer, sale or purchase of assets, sale or purchase of securities, dissolution, liquidation, restructuring, recapitalization or similar transaction involving the Company or its subsidiaries;

-4-

(f)    with respect to the Company or the Voting Securities, (i) communicate with the Company’s stockholders or others pursuant to Rule 14a-1(l)(2)(iv) pursuant to the Exchange Act in a manner inconsistent with the provisions of this paragraph 11; (ii) participate in, or take any action pursuant to, any “proxy access” proposal adopted by the SEC; or (iii) conduct any nonbinding referendum or “stockholder forum”;
(g)    publicly make or disclose any statement regarding any intent, purpose, plan or proposal with respect to the Board or the Company, its management, policies, affairs or assets, or the Voting Securities or this Agreement, that is inconsistent with the provisions of this Agreement, including, without limitation, any intent, purpose, plan or proposal that is conditioned on, or would require, the waiver, amendment, nullification or invalidation of any provision of this Agreement, or take any action that could require the Company to make any public disclosure relating to any such intent, purpose, plan, proposal or condition;
(h)    other than with other Affiliates of the Investor, enter into any agreements, understandings or arrangements (whether written or oral), with, or advise, finance, assist or encourage, any Person, in connection with any of the foregoing;
(i)    sell, offer or agree to sell all or substantially all, directly or indirectly, through swap or hedging transactions, derivative agreements or otherwise, voting rights decoupled from the underlying Voting Shares held by the Investors to any third party; and
(j)    (i) make or in any way participate as an offerer (as such term is defined in Schedule TO under the Exchange Act), directly or indirectly, in any tender offer, exchange offer, merger, business combination, recapitalization, restructuring, liquidation, dissolution or other extraordinary transaction involving the Company or its securities or assets (it being understood that the foregoing will not restrict the Investors from tendering shares, receiving payment for shares or otherwise participating in any such transaction on the same basis as other stockholders of the Company, or from participating in any such transaction that has been approved by the Board); or (ii) make, or support any third party in making, any public proposal, either alone or in concert with others, to the Company or the Board that would reasonably be expected to require the Company to make a public announcement regarding any of the types of matters set forth above in this paragraph 11(j).

-5-

12.    During the Restricted Period, the Company and the Investors will each (and the Nokomis Group will cause the Investors to) refrain from making, and will cause their respective Affiliates, Associates, principals, directors, members, general partners, officers and employees not to make, any statement or announcement that both relates to and constitutes an ad hominem attack on, or that both relates to and otherwise disparages, impugns or is reasonably likely to damage the reputation of, (a) in the case of statements or announcements by any of the Investors, the Company or any of its Affiliates or subsidiaries or any of its or their respective officers or directors or any person who has served as an officer or director of the Company or any of its Affiliates or subsidiaries; and (b) in the case of statements or announcements by the Company, the Investors and its and their respective Affiliates and Associates and their respective principals, directors, stockholders, members, general partners, officers, employees and advisors, or any person who has served as such. The foregoing will not prevent the making of any factual statement in any compelled testimony or production of information, whether by legal process, subpoena or as part of a response to a request for information from any governmental authority with jurisdiction over the party from whom information is sought.
13.    On the date of this Agreement, the Company will issue a press release in the form attached as Exhibit A (the “Press Release”). Neither the Company nor the Investors will (and the Nokomis Group will cause the Investors not to) make any public statements with respect to the matters covered by this Agreement (including, without limitation, in any filing with the SEC, any other regulatory or governmental agency, any stock exchange or in any materials that would reasonably be expected to be filed with the SEC) that are inconsistent with, or otherwise contrary to, the statements in the Press Release.
14.    Within five business days of the date of this Agreement, the Company will reimburse the Nokomis Group for its reasonable and documented out-of-pocket expenses (up to a maximum of $10,000) incurred by the Nokomis Group in connection with the negotiation and execution of this Agreement and all related activities and matters.
15.    As used in this Agreement, the term (a) “Person” will be interpreted broadly to include, among others, any individual, general or limited partnership, corporation, limited liability or unlimited liability company, joint venture, estate, trust, group, association or other entity of any kind or structure; (b) “Affiliate” will have the meaning set forth in Rule 12b-2 promulgated under the Exchange Act and will include Persons who become Affiliates of any Person subsequent to the date of this Agreement; (c) “Associate” will have the meaning set forth in Rule 12b-2 promulgated under the Exchange Act and will include Persons who become Associates of any Person subsequent to the date of this Agreement; (d) “Voting Securities” will mean the shares of the Company’s common stock and any other securities of the Company entitled to vote in the election of directors, or securities convertible into, or exercisable or exchangeable for, such shares or other securities, whether or not subject to the passage of time or other contingencies; (e) “business day” will mean any day other than a Saturday, Sunday or a day on which the Federal Reserve Bank of San Francisco is closed; and (f) “beneficially own,” “beneficially owned” and “beneficial ownership” will have the meaning set forth in Rule 13d-3 promulgated under the Exchange Act.

-6-

16.    Each member of the Nokomis Group, severally and not jointly, represents and warrants as to itself that (a) this Agreement has been duly authorized, executed and delivered by it and is a valid and binding obligation of such Investor, enforceable against it in accordance with its terms; (b) as of the date of this Agreement, none of Investors is a party to any swap or hedging transactions or other derivative agreements of any nature with respect to the Voting Securities; and (c) as of the date of this Agreement, the Investors have not, directly or indirectly, compensated or agreed to compensate the Nokomis Designee for his service as a nominee or director of the Company with any cash, securities (including, without limitation, any rights or options convertible into or exercisable for or exchangeable into securities or any profit sharing agreement or arrangement) or other form of compensation directly or indirectly related to the Company or its securities (collectively, “Unpermitted Compensation Arrangements”). The Nokomis Group represents and warrants that as of the date of this Agreement, it is the beneficial owner of an aggregate of 4,008,736 shares of Voting Securities.
17.    During the Restricted Period, the Investors will not (and the Nokomis Group will cause the Investors not to), directly or indirectly, compensate the Nokomis Designee, the Intermediary Director or the New Director for his/her service as a nominee or director of the Company in any way, including, without limitation, with any Unpermitted Compensation Arrangements. For the avoidance of doubt, the Nokomis Designee and the Intermediary Director shall be permitted to receive compensation from Nokomis in their capacities as employees of Nokomis. 
18.    The Company represents and warrants that this Agreement (a) has been duly authorized, executed and delivered by it and is a valid and binding obligation of the Company, enforceable against the Company in accordance with its terms; (b) does not require the approval of the stockholders of the Company; and (c) does not and will not violate any law, any order of any court or other agency of government, the Company’s Certificate of Incorporation or Bylaws, each as amended from time to time, or any provision of any agreement or other instrument to which the Company or any of its properties or assets is bound, or conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any such agreement or other instrument, or result in the creation or imposition of, or give rise to, any material lien, charge, restriction, claim, encumbrance or adverse penalty of any nature whatsoever pursuant to any such indenture, agreement or other instrument.
19.    The Company and the Nokomis Group each acknowledge and agree that money damages would not be a sufficient remedy for any breach (or threatened breach) of this Agreement by it and that, in the event of any breach or threatened breach hereof, (a) the non-breaching party will be entitled to injunctive and other equitable relief, without proof of actual damages; (b) the breaching party will not plead in defense thereto that there would be an adequate remedy at law; and (c) the breaching party agrees to waive any applicable right or requirement that a bond be posted by the non-breaching party. Such remedies will not be the exclusive remedies for a breach of this Agreement, but will be in addition to all other remedies available at law or in equity.

-7-

20.    This Agreement and the Exhibit constitute the only agreement between the Nokomis Group and the Company with respect to the subject matter hereof and supersede all prior agreements, understandings, negotiations and discussions, whether oral or written. This Agreement is binding upon and will inure to the benefit of the parties and their respective successors and permitted assigns. Neither the Company nor the Nokomis Group may assign or otherwise transfer either this Agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other party. Any purported transfer requiring consent without such consent is void. No amendment, modification, supplement or waiver of any provision of this Agreement will be effective unless it is in writing and signed by the party affected thereby, and then only in the specific instance and for the specific purpose stated therein. Any waiver by any party of a breach of any provision of this Agreement will not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Agreement. The failure of a party to insist upon strict adherence to any term of this Agreement on one or more occasions will not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement.
21.    If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, then the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement that is held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable. The parties further agree to replace such invalid or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the purposes of such invalid or unenforceable provision.
22.    This Agreement is governed by and will be construed in accordance with the laws of the State of Delaware. Each of the Company and the Nokomis Group (a) irrevocably and unconditionally consents to the personal jurisdiction and venue of the federal or state courts located in Wilmington, Delaware; (b) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court; (c) agrees that it will not bring any action relating to this Agreement or otherwise in any court other than such courts; and (d) waives any claim of improper venue or any claim that those courts are an inconvenient forum. The parties agree that mailing of process or other papers in connection with any such action or proceeding in the manner provided in paragraph 24, or in such other manner as may be permitted by applicable law, will be valid and sufficient service thereof. Each of the parties, after consulting or having had the opportunity to consult with counsel, knowingly, voluntarily and intentionally waives any right that such party may have to a trial by jury in any litigation based upon or arising out of this Agreement or any related instrument or agreement, or any of the transactions contemplated thereby, or any course of conduct, dealing, statements (whether oral or written), or actions of any of them. No party will seek to consolidate, by counterclaim or otherwise, any action in which a jury trial has been waived with any other action in which a jury trial cannot be or has not been waived.
23.    This Agreement is solely for the benefit of the parties and is not enforceable by any other Person.

-8-

24.    All notices, consents, requests, instructions, approvals and other communications provided for herein, and all legal process in regard hereto, will be in writing and will be deemed validly given, made or served if (i) given by fax, when such fax is transmitted to the fax number set forth below and the appropriate confirmation is received; or (ii) if given by any other means, when delivered in person, by overnight courier or two business days after being sent by registered or certified mail (postage prepaid, return receipt requested) as follows:
(a)    If to the Company:
Telenav, Inc.
4655 Great America Parkway, Suite 300
Santa Clara, CA 95054
Attn:    Loren E. Hillberg
Fax:    (408) 207-4754
with a copy (which will not constitute notice) to:
Wilson Sonsini Goodrich & Rosati
Professional Corporation
650 Page Mill Road
Palo Alto, CA 94303 
Attn:    Julia Reigel
Fax:    (650) 493-6811
(b)    If to the Nokomis Group:
Nokomis Capital, L.L.C.
2305 Cedar Springs Road, Suite 420
Dallas, TX 75201
Attn:    Brett Hendrickson
Wes Cummins
Fax:    (972) 590-4109
with a copy (which will not constitute notice) to:
Olshan Frome Wolosky LLP
1325 Avenue of the Americas
New York, NY 10019
Attn:    Steve Wolosky
Aneliya Crawford
Fax:    (212) 451-2222
At any time, any party may, by notice given in accordance with this paragraph to the other party, provide updated information for notices hereunder.

-9-

25.    Each of the parties acknowledges that it has been represented by counsel of its choice throughout all negotiations that have preceded the execution of this Agreement, and that it has executed this Agreement with the advice of such counsel. Each party and its counsel cooperated and participated in the drafting and preparation of this Agreement, and any and all drafts relating thereto exchanged among the parties will be deemed the work product of all of the parties and may not be construed against any party by reason of its drafting or preparation. Accordingly, any rule of law or any legal decision that would require interpretation of any ambiguities in this Agreement against any party that drafted or prepared it is of no application and is hereby expressly waived by each of the parties, and any controversy over interpretations of this Agreement will be decided without regard to events of drafting or preparation.
26.    This Agreement and any amendments hereto may be executed in one or more counterparts, all of which will be considered one and the same agreement and will become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties, it being understood that all parties need not sign the same counterpart. Any such counterpart, to the extent delivered by fax or .pdf, .tif, .gif, .jpg or similar attachment to electronic mail (any such delivery, an “Electronic Delivery”), will be treated in all manner and respects as an original executed counterpart and will be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. No party may raise the use of an Electronic Delivery to deliver a signature, or the fact that any signature or agreement or instrument was transmitted or communicated through the use of an Electronic Delivery, as a defense to the formation of a contract, and each party forever waives any such defense, except to the extent such defense relates to lack of authenticity.
[Signature page follows.]

-10-

If the terms of this Agreement are in accordance with your understanding, please sign below, whereupon this Agreement will constitute a binding agreement among us.

	
	
	Very truly yours,
TELENAV, INC.
By:    /s/ H.P. Jin    
Name:    H.P. Jin
Title:    Chief Executive Officer

ACCEPTED AND AGREED
as of the date written above:
NOKOMIS CAPITAL, L.L.C.
By:    /s/ Brett Hendrickson    
Name:    Brett Hendrickson
Title:    Manager
NOKOMIS CAPITAL ADVISORS, L.P.
By:    Nokomis Capital, L.L.C.
General Partner 
By:    /s/ Brett Hendrickson    
Name:    Brett Hendrickson
Title:    Manager

[Signature Page to Letter Agreement]

NOKOMIS CAPITAL OFFSHORE FUND, LTD.
By:    /s/ Brett Hendrickson    
Name:    Brett Hendrickson
Title:    Director

NOKOMIS CAPITAL PARTNERS, L.P.
By:    Nokomis Capital Advisors, L.P.
General Partner
By:    Nokomis Capital, L.L.C.
General Partner
By:    /s/ Brett Hendrickson    
Name:    Brett Hendrickson
Title:    Manager
NOKOMIS CAPITAL MASTER FUND, L.P.
By:    Nokomis Capital Advisors, L.P.
General Partner
By:    Nokomis Capital, L.L.C.
General Partner
By:    /s/ Brett Hendrickson    
Name:    Brett Hendrickson
Title:    Manager
BRETT HENDRICKSON
/s/ Brett Hendrickson    

[Signature Page to Letter Agreement]

EXHIBIT A
Form of Press Release
(see attached)

Telenav Reaches Agreement with Nokomis Capital
Wes Cummins Joins Board of Directors as Independent Director
Richard Todaro Resigns from Board of Directors

SANTA CLARA, Calif., August 24, 2016 – Telenav®, Inc. (NASDAQ:TNAV), a leader in connected car services, today announced that it reached an agreement with Nokomis Capital pursuant to which the Board will appoint Wes Cummins of Nokomis to its Board of Directors.  In connection with the agreement, Richard Todaro will resign from Telenav’s Board of Directors.  Telenav and Nokomis also agreed to search for an additional independent director and to the extent that such independent director is not identified by January 30, 2017, Brett Hendrickson of Nokomis will be appointed as a Class II director until such time as an independent director is identified.

“We are pleased to welcome Wes Cummins as a new independent director to the Telenav Board and would also like to thank Richard Todaro for his service and contribution to the company during his term of office,” said HP Jin, chairman and CEO of Telenav. Mr. Jin continued, “Wes is a distinguished investor who will add valuable experience and perspective to the Board. We look forward to benefitting from his perspective as we continue to execute on our growth strategies and create value for shareholders.”

Mr. Cummins said, “I am pleased to be joining Telenav’s Board and I look forward to working with the rest of the Board and management team to effectively position the company for the many opportunities in the auto market and enhance value for shareholders.”

Mr. Cummins will join the Board as a Class I director, with a term expiring at the 2016 Annual Meeting of Stockholders and the Telenav Board will renominate Mr. Cummins for a new term at the 2016 Annual Meeting of Stockholders.

In connection with today’s announcement, Telenav has entered into an agreement with Nokomis Capital, L.L.C. (“Nokomis”), which owns approximately 9.4% of Telenav’s outstanding shares. Under the terms of the agreement, Telenav agreed to welcome Mr. Cummins to the Telenav Board and Nokomis has agreed to customary standstill and voting commitments. The complete agreement will be included as an exhibit to the Company’s Current Report on Form 8-K to be filed with the Securities and Exchange Commission.

About Wes Cummins

Wes Cummins joined Nokomis Capital, L.L.C. in October of 2012. From March of 2011 to September 2012 Mr. Cummins was an analyst for Harvey Partners. Prior to Harvey Partners, Mr. Cummins was at B. Riley & Co. since February of 2002. During his 9 years at B. Riley, Mr. Cummins held multiple positions including:  Senior Research Analyst covering technology hardware companies, Director of Research, Head of Capital Markets, and finally President. During this time Mr. Cummins gained extensive experience in the investment research process, public and private capital raising, M&A, corporate restructuring and shareholder activism. Prior to B. Riley, he was an Associate Analyst at Needham & Company.  Mr. Cummins holds a B.S.B.A. from Washington University in St. Louis.

About Telenav

Telenav is a leading provider of connected car and location-based platform services. These services consist of our map and navigation platform and our advertising delivery platform. Our map and navigation platform allows Telenav to deliver enhanced location-based services to auto manufacturers, developers, and end users through various distribution channels. Our advertising delivery platform delivers highly targeted advertising services leveraging our location expertise. Follow us on Twitter, on Facebook and on Google+.

Copyright 2016 Telenav, Inc. All Rights Reserved.

"Telenav," "Scout," and the Telenav and Scout logos are registered trademarks of Telenav, Inc. Unless otherwise noted, all other trademarks, service marks, and logos used in this press release are the trademarks, service marks or logos of their respective owners.

TNAV-F
TNAV-C

Investor Relations Contact:
Cynthia Hiponia or Erin Rheaume
The Blueshirt Group for Telenav, Inc.
408-990-1265
IR@telenav.comEX-10.1

 Exhibit 10.1 

Execution Version 
  

 
  

FIFTEENTH AMENDMENT TO 

CREDIT AGREEMENT AND MASTER ASSIGNMENT 

dated as of 

August 25, 2016 

among 

PETROQUEST ENERGY, INC., 

as Parent, 
 PETROQUEST
ENERGY, L.L.C., 
 as Borrower, 

TDC ENERGY LLC, as Guarantor 

JPMORGAN CHASE BANK, N.A., 

as Administrative Agent, 

and 
 The Lenders
Party Hereto 
  
  

J.P. MORGAN SECURITIES LLC, 

as Lead Arranger 
  

 
  

 FIFTEENTH AMENDMENT TO CREDIT AGREEMENT AND MASTER 

ASSIGNMENT 
 THIS
FIFTEENTH AMENDMENT TO CREDIT AGREEMENT AND MASTER ASSIGNMENT (this “Fifteenth Amendment”) dated as of August [24], 2016 (the “Fifteenth Amendment Effective Date”), is among PETROQUEST ENERGY, INC., a
Delaware corporation, as the Parent, PETROQUEST ENERGY, L.L.C., a Louisiana limited liability company, as the Borrower, TDC ENERGY LLC, a Louisiana limited liability company, as Guarantor, JPMORGAN CHASE BANK, N.A., as
Administrative Agent, and the Lenders party hereto. 
 R E C I T A L S 

WHEREAS, the Parent, the Borrower, Administrative Agent and the Lenders are parties to that certain Credit Agreement dated as of
October 2, 2008, (as amended, restated, supplemented or modified from time to time prior to the date hereof, the “Credit Agreement”), pursuant to which the Lenders have made certain loans to and extensions of credit for the
account of the Borrower; 
 WHEREAS, the Borrower has advised Administrative Agent and the Lenders that it intends to offer an exchange of
all or a portion of the Senior Notes and the Senior Secured Notes due 2021 by the holders thereof for consideration consisting of new second lien notes due 2021 and Equity Interests (other than Disqualified Capital Stock) of the Parent; 

WHEREAS, the Borrower has requested and Administrative Agent and the Lenders have agreed to amend certain provisions of the Credit Agreement
as more particularly set forth herein; 
 WHEREAS, the Required Lenders and the Borrower have agreed to redetermine the Borrowing Base by
reducing the Borrowing Base to $0 as provided herein, which redetermination of the Borrowing Base shall not constitute a Scheduled Redetermination or an Interim Redetermination; and 

WHEREAS, each Exiting Lender (as defined in Section 5 hereof) is assigning its rights and obligations under the Credit Agreement
and the Loan Documents to the Remaining Lender (as defined in Section 5 hereof). 
 NOW, THEREFORE, in consideration of the
foregoing and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

Section 1. Defined Terms. Each capitalized term used herein (including, without limitation, in the preamble and recitals) but not otherwise defined
herein has the meaning given such term in the Credit Agreement, including, to the extent the context so requires, after giving effect to the amendments to the Credit Agreement contained in this Fifteenth Amendment. Unless otherwise indicated, all
article and section references in this Fifteenth Amendment refer to articles and sections of the Credit Agreement. 

 Section 2. Amendments to Credit Agreement. In reliance on the representations, warranties, covenants
and agreements contained in this Fifteenth Amendment, and subject to the satisfaction of the conditions precedent set forth in Section 4 hereof, the Credit Agreement is hereby amended effective as of the Fifteenth Amendment Effective
Date in the manner provided in this Section 2. 
 2.1 Amendments to Section 1.02. 

(a) The definition of “Permitted Refinancing Debt” is amended to insert “or a portion” after
“all” in the second line thereof. 
 (b) The definition of “Permitted Second Lien Debt” is amended and
restated to read in its entirety as follows: 
 “Permitted Second Lien Debt” means Debt incurred (a) by
the Parent pursuant to the Senior Secured Indenture or the Exchange Notes Indenture or (b) by the Parent or the Borrower pursuant to one or more other issuances of Debt (including pursuant to a Senior Secured Supplemental Indenture or an
Exchange Notes Supplemental Indenture); provided that (i) the aggregate principal amount of all Debt incurred pursuant to this definition shall not exceed $300,000,000.00 (excluding principal resulting from any interest paid in kind with
respect to the Exchange Notes due 2021), (ii) such Debt shall be used by the Parent or the Borrower in connection with the Redemption of the Senior Notes or Senior Secured Notes due 2021 substantially concurrently with the incurrence of such
Permitted Second Lien Debt; (iii) with respect to Debt incurred pursuant to clause (b) of this definition, such Debt shall (A) not provide for any scheduled payment of principal (subject to other payments permitted by the
Intercreditor Agreement), scheduled mandatory Redemption or scheduled sinking fund payment before the date that is 180 days following the date in clause (a) of the definition of “Maturity Date”, (B) be secured solely by junior
Liens on Mortgaged Property which Liens do not have priority over the Liens in favor of the Administrative Agent securing the Indebtedness; and (C) be evidenced and governed by definitive documentation containing (1) with respect to any
Senior Secured Supplemental Indenture or Exchange Notes Supplemental Indenture, the same terms (excluding the effect of any most favored nations clause) as, or terms less onerous to the Parent than, the Senior Secured Indenture or Exchange Notes
Indenture, as applicable or (2) customary market terms and conditions and otherwise satisfactory to the Administrative Agent in its sole discretion (provided, that solely with respect to any proposed Permitted Second Lien Debt transaction
pursuant to this clause (2), the term sheet for such proposed Permitted Second Lien Debt transaction shall be submitted to the Administrative Agent for its approval in its sole discretion and the definitive documentation of such Permitted Second
Lien Debt transaction shall be deemed acceptable to the Administrative Agent if the terms of such definitive documentation reflect the terms and conditions set forth in the approved 

  
 2 

 
term sheet and contain customary market terms and conditions and otherwise are satisfactory to the Administrative Agent in its sole discretion); and (iv) all Debt incurred pursuant to this
definition shall at all times be subject to the Intercreditor Agreement. 
 (c) The following definitions are added where
alphabetically appropriate: 
 “Exchange Notes Indenture” means an indenture on the terms set forth in the
Exchange Offering Memorandum pursuant to which the Exchange Notes due 2021 are issued, as in effect on the Fifteenth Amendment Effective Date. 

“Exchange Notes due 2021” has the meaning given to the term “Notes” as defined in the indenture with
terms set forth in the Exchange Offering Memorandum, in each case guaranteed by the Borrower and TDC Energy LLC. 

“Exchange Notes Supplemental Indenture” means a supplemental indenture to the Exchange Notes Indenture. 

“Exchange Offering Memorandum” means the Offering Memorandum and Consent Solicitation Statement dated as of
August [24], 2016 
 “Existing Notes” has the meaning set forth in the definition of Specified Exchange.

 “Fifteenth Amendment” means the Fifteenth Amendment to Credit Agreement and Master Assignment dated as of
August [24], 2016, among the Parent, the Borrower, the Guarantor, Administrative Agent, and the Lenders party thereto. 

“Fifteenth Amendment Effective Date” means August [24], 2016. 

“Reestablishment Date” means a date consented to by the Administrative Agent and each Lender in their sole
discretion following the request for an Interim Redetermination delivered by the Borrower following the Fifteenth Amendment Effective Date; provided that the Lenders and Administrative Agent shall have no obligation to consent to any Reestablishment
Date and may indefinitely delay their consent to a Reestablishment Date or reject a request for an Interim Redetermination. 

“Redeemed Debt” has the meaning set forth in Section 9.04(b). 

“Specified Exchange” means the exchange of a portion of the Senior Notes and the Senior Secured Notes due 2021
(collectively, the “Existing Notes”) by the holders thereof for consideration consisting of Exchange Notes due 2021 and Equity Interests (other than Disqualified Capital Stock) of the Parent; provided that (a) such exchange
results in the tender and Redemption of Existing Notes in a minimum amount no less than 80% of the total aggregate principal amount of the Existing Notes outstanding on the Fifteenth Amendment Effective Date and (b) such exchange is consummated
on or before September 30, 2016. 

  
 3 

 2.2 Amendment to Section 2.07(b) of the Credit Agreement.
Section 2.07(b) of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows: 

(b) Scheduled and Interim Redeterminations. After the Reestablishment Date, the Borrowing Base shall be redetermined
semi-annually in accordance with this Section 2.07 (a “Scheduled Redetermination”), and, subject to Section 2.07(d), such redetermined Borrowing Base shall become effective and applicable to the Borrower, the
Agents, the Issuing Bank and the Lenders on March 31st and September 30th of each year, commencing with the March 31 or September 30 following the Reestablishment Date. In addition, the Borrower may, by notifying the
Administrative Agent thereof, and the Administrative Agent may, at the direction of the Required Lenders, by notifying the Borrower thereof, two times during any 12 month period, each elect to cause the Borrowing Base to be redetermined between
Scheduled Redeterminations (an “Interim Redetermination”) in accordance with this Section 2.07; provided that notwithstanding anything to the contrary contained in this Agreement, the Administrative Agent and
Lenders shall have no obligation to agree to an Interim Redetermination that would result in the occurrence of the Reestablishment Date (and the Borrower shall not have the right to cause the Borrowing Base to be redetermined prior to any
Reestablishment Date). 
 2.3 Amendment to Section 9.02(l) of the Credit Agreement. Section 9.02(l)
of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
 (l) (i) Permitted Second Lien
Debt and guarantees thereof by any Guarantor and (ii) Debt which constitutes Permitted Refinancing Debt of such Permitted Second Lien Debt permitted under the Intercreditor Agreement and any guarantees thereof; in each case, so long as
(A) no Default, Event of Default or Borrowing Base Deficiency exists or results from the incurrence of any such Debt (including any incremental advances made to the Parent or Borrower in respect of such Debt under any such credit or loan
document or indenture related thereto), (B) after giving effect to such incurrence of Debt (including any such incremental advances), other than the incurrence of Debt in connection with the Specified Exchange, the Borrower is in pro forma
compliance with Section 9.01 (for the avoidance of doubt, such pro forma compliance to be tested as if the Financial Covenant Reinstatement Date shall have occurred) and (C) the aggregate principal amount of all such Debt permitted
under this Section 9.02(l) does not exceed $300,000,000.00 in the aggregate (excluding principal resulting from any interest paid in kind with respect to the Exchange Notes due 2021). 

  
 4 

 2.4 Amendment to Section 9.04(b) of the Credit Agreement.
Section 9.04(b) of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 
 (b)
Redemption of Senior Notes and Bridge Loans; Amendment of Senior Indenture and Bridge Loan Facility. The Parent will not, and will not permit any of its Subsidiaries to, prior to the date that is ninety-one (91) days after the date in
clause (a) of the definition of “Maturity Date”: (i) call, make or offer to make any optional or voluntary Redemption of or otherwise optionally or voluntarily Redeem (whether in whole or in part) the Senior Notes, the Bridge
Loans, the Converted Term Loan, Senior Exchange Notes or any Permitted Refinancing Debt in respect thereof; provided that the Borrower and/or the Parent may (x) prepay or otherwise Redeem (including pursuant to an exchange) the Senior Notes,
the Bridge Loans, the Converted Term Loan and/or the Senior Exchange Notes (the “Redeemed Debt”) with (A) the proceeds of any Permitted Refinancing Debt or Second Lien Permitted Debt (in each case including the exchange of the
Exchange Notes due 2021 for such Redeemed Debt in whole or in part) or (B) the net cash proceeds of any sale of Equity Interests (other than Disqualified Capital Stock) of the Parent and, in the case of Senior Notes, following the completion of
a tender offer which is substantially concurrent with the issuance of such Permitted Refinancing Debt (or with the proceeds of Second Lien Permitted Debt), (y) issue additional Equity Interests (other than Disqualified Capital Stock) of the
Parent in exchange for all or a portion of the Senior Notes or (z) Redeem (in part) the Senior Notes with cash (other than cash constituting proceeds of any Loan); provided that (A) the Borrower shall have, on a pro-forma basis after
giving effect to such Redemption (other than the Redemption in connection with the Specified Exchange), Unused Availability under this Agreement of not less than 50% of the aggregate Commitments, (B) no Default or Event of Default shall have
occurred and be continuing and (C) after giving effect to such Redemption (other than the Redemption in connection with the Specified Exchange), the Borrower is in pro forma compliance with Section 9.01 (for the avoidance of doubt,
such pro forma compliance to be tested as if the Financial Covenant Reinstatement Date shall have occurred); or (ii) amend, modify, waive or otherwise change, consent or agree to any amendment, modification, waiver or other change to, any of
the terms of the Senior Notes, the Bridge Loan Facility, the Converted Term Loan, the Senior Exchange Notes or any Permitted Refinancing Debt or the Senior Indenture if the effect thereof would be to shorten its maturity or average life or increase
the amount of any payment of principal thereof or increase the rate or shorten any period for payment of interest thereon. 

  
 5 

 2.5 Amendment to Section 9.23 of the Credit Agreement.
Section 9.23 of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 

Section 9.23 Repayment of Permitted Second Lien Debt; Amendment of Terms of Permitted Second Lien Debt Documents.
The Parent will not, and will not permit any of the Parent’s Subsidiaries to, prior to the date that is 180 days after the date in clause (a) of the definition of “Maturity Date”: (a) call, make or offer to make any optional
or voluntary Redemption of, or otherwise optionally or voluntarily Redeem (whether in whole or in part), any Permitted Second Lien Debt; provided, that the Borrower and/or Parent may voluntarily Redeem (including pursuant to an exchange) Permitted
Second Lien Debt (i) with the proceeds of any Permitted Refinancing Debt permitted under the Intercreditor Agreement (including the exchange of the Exchange Notes due 2021 for such Permitted Second Lien Debt in whole or in part), (ii) with
cash proceeds of an offering of, Equity Interests (other than Disqualified Capital Stock) of the Parent, (iii) with cash proceeds from a sale of any Property other than (A) a sale of any Property that contains proved reserves or (B) a
sale, assignment, monetization, transfer, cancellation, termination, unwinding or other disposition of any Swap Agreement, (iv) with the issuance of additional Equity Interests (other than Disqualified Capital Stock) of the Parent in exchange
for all or a portion of the Permitted Second Lien Debt, so long as, in the case of the foregoing clauses (ii), (iii) and (iv), no Default or Borrowing Base Deficiency has occurred and is continuing both before and after giving effect to such
Redemption and such Redemption occurs substantially contemporaneously with, and in any event within three (3) Business Days following, the receipt of proceeds or confirmation of exchange, as applicable, in respect of such Redemption or
(b) amend, modify, waive or otherwise change, consent or agree to any amendment, modification, waiver or other change to any of the terms of the Permitted Second Lien Debt Documents other than amendments or other modifications that are
permitted under the Intercreditor Agreement. 
 2.6 Amendment to Annex I of the Credit Agreement. Annex I of
the Credit Agreement is hereby amended and restated in its entirety and replaced with Annex I attached hereto. 
 Section 3. Reduction of
Borrowing Base to Zero Dollars. The Lenders and the Borrower hereby agree that effective on the Fifteenth Amendment Effective Date, the amount of the Borrowing Base shall be reduced from $22,500,000 to zero dollars. The Lenders party hereto
agree that the redetermination provided for in this Section 3 shall not constitute a Scheduled Redetermination or an Interim Redetermination. The Borrowing Base as established herein shall remain in effect unless and until the
Administrative Agent and each Lender, in their sole discretion, agree to reestablish a Borrowing Base with an amount greater than zero dollars. The Administrative Agent and Lenders shall have no obligation to reestablish a Borrowing Base with an
amount greater than zero dollars. 

  
 6 

 Section 4. Conditions Precedent. The amendments to the Credit Agreement contained in
Section 2 hereof and the provisions of Section 3 and Section 5 hereof shall each be effective on the date that each of the following conditions precedent is satisfied or waived in accordance with
Section 12.02 of the Credit Agreement: 
 4.1 Exchange Offering Memorandum. Administrative Agent shall
have received the Exchange Offering Memorandum. 
 4.2 Counterparts. Administrative Agent shall have received from the
Lenders, the Parent, the Borrower and each Guarantor, counterparts (in such number as may be requested by Administrative Agent) of this Fifteenth Amendment signed on behalf of such Persons. 

4.3 Fees and Expenses. The Borrower shall have paid to Administrative Agent any and all fees and expenses payable to
Administrative Agent or the Lenders pursuant to or in connection with this Fifteenth Amendment. 
 4.4 No Default/No Event
of Default/No Borrowing Base Deficiency. No Default, Event of Default or Borrowing Base Deficiency shall have occurred and be continuing. 

4.5 Other Documents. Administrative Agent shall have received such other documents as Administrative Agent or counsel to
Administrative Agent may reasonably request. 
 Administrative Agent is hereby authorized and directed to declare this Fifteenth Amendment to be effective
when it has received documents confirming or certifying, to the satisfaction of Administrative Agent, compliance with the conditions set forth in this Section 4. Such declaration shall be final, conclusive and binding upon all parties to
this Fifteenth Amendment for all purposes. 
 Section 5. Master Assignment. Each of Wells Fargo Bank, N.A., Capital One, National Association,
Iberiabank, Bank of America, N.A. and The Bank of Nova Scotia, as a Lender (each, an “Exiting Lender”), hereby sells, assigns, transfers and conveys to JPMorgan Chase Bank, N.A. as a Lender (the “Remaining Lender”),
and the Remaining Lender hereby purchases, accepts and assumes all of each such Exiting Lender’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto
under the Credit Agreement (including any Letters of Credit) such that, on the Fifteenth Amendment Effective Date, (a) such Remaining Lender shall pay such Exiting Lender in full for all amounts owing to it under the Credit Agreement (including
all amounts which have accrued to but excluding the Fifteenth Amendment Effective Date) as agreed and calculated by such Exiting Lender and Administrative Agent in accordance with the Credit Agreement, (b) such Exiting Lender shall
(i) cease to be a Lender under the Credit Agreement, as amended hereby, and the Loan Documents and (ii) relinquish its rights (provided that it shall still be entitled to the benefits of Section 5.01, Section 5.02,
Section 5.03 and Section 12.03) and be released from its obligations under the Credit Agreement, as 

  
 7 

 
amended hereby, and the other Loan Documents, and (c) the Maximum Credit Amount of each Lender shall be as set forth on Annex I hereto. The foregoing assignments, transfers and conveyances
are without recourse to each such Exiting Lender and without any representations or warranties whatsoever by Administrative Agent, the Issuing Bank or such Exiting Lender as to title, enforceability, collectability, documentation or freedom from
liens or encumbrances, in whole or in part, or otherwise, other than the warranty of such Exiting Lender that it has not previously sold, transferred, conveyed or encumbered such interests. The Administrative Agent shall make all appropriate
adjustments in payments under the Credit Agreement, the Notes and the other Loan Documents thereunder for periods prior to the Fifteenth Amendment Effective Date. Each Exiting Lender is executing this Fifteenth Amendment for the sole purpose of
evidencing its agreement to Section 5 and Section 6 hereof. The parties hereto agree that the assignments and transfers hereunder shall be deemed for all purposes to comply with Section 12.04 of the Credit
Agreement. 
 Section 6. Miscellaneous. 

6.1 Confirmation. Any and all of the terms and provisions of the Credit Agreement and the other Loan Documents shall,
except as modified hereby, remain in full force and effect following the effectiveness of this Fifteenth Amendment. 
 6.2
Ratification and Affirmation; Representations and Warranties. Each of the Borrower and each Guarantor hereby (a) ratifies and affirms its respective obligations under, and acknowledges, renews and extends its respective continued
liability under, each Loan Document to which it is a party and agrees that each Loan Document to which it is a party remains in full force and effect, except as expressly amended hereby, notwithstanding the amendments contained herein and
(b) represents and warrants to the Lenders that, as of the date hereof, after giving effect to the terms of this Fifteenth Amendment: (i) all of the representations and warranties contained in each Loan Document to which it is a party are
true and correct, except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct as of such specified earlier date,
(ii) no Default has occurred and is continuing and (iii) no Material Adverse Effect has occurred. 
 6.3 Loan
Document. This Fifteenth Amendment is a “Loan Document” as defined and described in the Credit Agreement and all of the terms and provisions of the Credit Agreement relating to Loan Documents shall apply hereto. 

6.4 Counterparts. This Fifteenth Amendment may be executed by one or more of the parties hereto in any number of
separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of this Fifteenth Amendment by facsimile transmission or via .pdf shall be effective as delivery of a manually
executed counterpart hereof. 

  
 8 

 6.5 NO ORAL AGREEMENT. THIS FIFTEENTH AMENDMENT, THE CREDIT AGREEMENT AND
THE OTHER LOAN DOCUMENTS AND ANY SEPARATE LETTER AGREEMENTS WITH RESPECT TO FEES PAYABLE TO ADMINISTRATIVE AGENT CONSTITUTE THE ENTIRE CONTRACT AMONG THE PARTIES RELATING TO THE SUBJECT MATTER HEREOF AND THEREOF AND SUPERSEDE ANY AND ALL PREVIOUS
AGREEMENTS AND UNDERSTANDINGS, ORAL OR WRITTEN, RELATING TO THE SUBJECT MATTER HEREOF AND THEREOF. THIS FIFTEENTH AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO AND THERETO AND MAY
NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 

6.6 GOVERNING LAW. THIS FIFTEENTH AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF TEXAS. 
 6.7 FATCA. From and after the Fifteenth Amendment Effective Date, the Borrower shall indemnify the
Administrative Agent, and hold it harmless from, any and all losses, claims, damages, liabilities and related expenses, including Taxes and the fees, charges and disbursements of any counsel for any of the foregoing, arising in connection with the
Administrative Agent’s treating, for purposes of determining withholding Taxes imposed under FATCA, the Fifteenth Amendment as qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation
Section 1.1471-2(b)(2)(i). 
 6.8 RELEASE. EACH OF THE PARENT AND ITS SUBSIDIARIES (IN ITS OWN RIGHT
AND ON BEHALF OF ITS PREDECESSORS, SUCCESSORS, LEGAL REPRESENTATIVES AND ASSIGNS) HEREBY EXPRESSLY AND UNCONDITIONALLY ACKNOWLEDGES AND AGREES THAT IT HAS NO SETOFFS, COUNTERCLAIMS, ADJUSTMENTS, RECOUPMENTS, DEFENSES, CLAIMS, CAUSES OF ACTION,
ACTIONS OR DAMAGES OF ANY CHARACTER OR NATURE, WHETHER CONTINGENT, NONCONTINGENT, LIQUIDATED, UNLIQUIDATED, FIXED, MATURED, UNMATURED, DISPUTED, UNDISPUTED, LEGAL, EQUITABLE, SECURED OR UNSECURED, KNOWN OR UNKNOWN, ACTUAL OR PUNITIVE, FORESEEN OR
UNFORESEEN, DIRECT, OR INDIRECT, AGAINST THE ADMINISTRATIVE AGENT, THE ISSUING BANK OR ANY LENDER (COLLECTIVELY, THE “CREDIT PARTIES”), ANY OF ANY CREDIT PARTY’S AFFILIATES OR ANY OF ITS OFFICERS, DIRECTORS, AGENTS, EMPLOYEES,
ATTORNEYS OR REPRESENTATIVES OR ANY OF THEIR RESPECTIVE PREDECESSORS, SUCCESSORS OR ASSIGNS (COLLECTIVELY, THE “LENDER-RELATED PARTIES”) OR ANY GROUNDS OR CAUSE FOR REDUCTION, MODIFICATION, SET ASIDE OR SUBORDINATION OF THE SECURED
OBLIGATIONS OR ANY LIENS OR SECURITY INTERESTS OF THE CREDIT PARTIES. IN PARTIAL CONSIDERATION FOR THE  

  
 9 

 
AGREEMENT OF ADMINISTRATIVE AGENT AND LENDERS PARTY HERETO TO ENTER INTO THIS FIFTEENTH AMENDMENT, EACH OF THE PARENT AND ITS SUBSIDIARIES HEREBY KNOWINGLY AND UNCONDITIONALLY WAIVES AND FULLY
AND FINALLY RELEASES AND FOREVER DISCHARGES THE LENDER-RELATED PARTIES FROM, AND COVENANTS NOT TO SUE THE LENDER-RELATED PARTIES FOR, ANY AND ALL SETOFFS, COUNTERCLAIMS, ADJUSTMENTS, RECOUPMENTS, CLAIMS, CAUSES OF ACTION, ACTIONS,
GROUNDS, CAUSES, DAMAGES, COSTS AND EXPENSES OF EVERY NATURE AND CHARACTER, WHETHER CONTINGENT, NONCONTINGENT, LIQUIDATED, UNLIQUIDATED, FIXED, MATURED, UNMATURED, DISPUTED, UNDISPUTED, LEGAL, EQUITABLE, SECURED OR UNSECURED, KNOWN OR UNKNOWN,
ACTUAL OR PUNITIVE, FORESEEN OR UNFORESEEN, DIRECT OR INDIRECT, ARISING OUT OF OR FROM OR RELATED TO ANY OF THE LOAN DOCUMENTS, WHICH THE PARENT OR ANY SUBSIDIARY NOW OWNS AND HOLDS, OR HAS AT ANY TIME HERETOFORE OWNED OR HELD, SUCH WAIVER, RELEASE
AND DISCHARGE BEING MADE WITH FULL KNOWLEDGE AND UNDERSTANDING OF THE CIRCUMSTANCES AND EFFECTS OF SUCH WAIVER, RELEASE AND DISCHARGE AND AFTER HAVING CONSULTED LEGAL COUNSEL OF ITS OWN CHOOSING WITH RESPECT THERETO. THIS SECTION IS IN ADDITION TO
ANY OTHER RELEASE OF ANY OF THE LENDER-RELATED PARTIES BY THE PARENT OR ANY SUBSIDIARY AND SHALL NOT IN ANY WAY LIMIT ANY OTHER RELEASE, COVENANT NOT TO SUE, OR WAIVER BY THE PARENT OR ANY SUBSIDIARY IN FAVOR OF ANY OF THE LENDER-RELATED
PARTIES. 
 6.9 Payment of Expenses. The Borrower agrees to pay or reimburse Administrative Agent for
all of its out-of-pocket costs and expenses incurred in connection with this Fifteenth Amendment, any other documents prepared in connection herewith and the transactions contemplated hereby, including, without limitation, the reasonable fees and
disbursements of counsel to Administrative Agent. 
 6.10 Severability. Any provision of this Fifteenth Amendment
which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

6.11 Successors and Assigns. This Fifteenth Amendment shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns. 
 [SIGNATURES BEGIN NEXT PAGE] 

  
 10 

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

					
	BORROWER:	 		 	PETROQUEST ENERGY, L.L.C.
			
	  
	 		 	J. Bond Clement
		 		 	J. Bond Clement
		 		 	Executive Vice President, Chief Financial Officer
and Treasurer
			
	PARENT:	 		 	PETROQUEST ENERGY, INC.
			
	  
	 		 	J. Bond Clement
		 		 	J. Bond Clement
		 		 	Executive Vice President, Chief Financial Officer
and Treasurer
			
	GUARANTOR:	 		 	TDC ENERGY LLC
			
	  
	 		 	J. Bond Clement
		 		 	J. Bond Clement
		 		 	Executive Vice President, Chief Financial Officer
and Treasurer

 [SIGNATURE PAGE TO PETROQUEST
FIFTEENTH AMENDMENT AND MASTER ASSIGNMENT] 

							
	 ADMINISTRATIVE AGENT:
 AND REMAINING
LENDER
	 		 	 JPMORGAN CHASE BANK, N.A.

individually, as a Lender, as Administrative Agent and as Issuing Bank

				
		 		 	By:	 	/s/ Darren Vanek
		 		 	Name:	 	Darren Vanek
		 		 	Title:	 	Executive Director

 [SIGNATURE PAGE TO PETROQUEST
FIFTEENTH AMENDMENT AND MASTER ASSIGNMENT] 

							
	EXITING LENDER:	 		 	WELLS FARGO BANK, N.A.
				
		 		 	By:	 	/s/ Matt Turner
		 		 	Name:	 	Matt Turner
		 		 	Title:	 	Vice President

 [SIGNATURE PAGE TO PETROQUEST
FIFTEENTH AMENDMENT AND MASTER ASSIGNMENT] 

							
	EXITING LENDER:	 		 	CAPITAL ONE, NATIONAL ASSOCIATION
				
		 		 	By:	 	/s/ Matthew Molero
		 		 	Name:	 	Matthew Molero
		 		 	Title:	 	Senior Vice President

 [SIGNATURE PAGE TO PETROQUEST
FIFTEENTH AMENDMENT AND MASTER ASSIGNMENT] 

							
	EXITING LENDER:	 		 	IBERIABANK
				
		 		 	By:	 	/s/ W. Bryan Chapman
		 		 	Name:	 	W. Bryan Chapman
		 		 	Title:	 	Executive Vice President

 [SIGNATURE PAGE TO PETROQUEST
FIFTEENTH AMENDMENT AND MASTER ASSIGNMENT] 

							
	EXITING LENDER:	 		 	BANK OF AMERICA, N.A.
				
		 		 	By:	 	/s/ Raza Jafferi
		 		 	Name:	 	Raza Jafferi
		 		 	Title:	 	Vice President

 [SIGNATURE PAGE TO PETROQUEST
FIFTEENTH AMENDMENT AND MASTER ASSIGNMENT] 

							
	EXITING LENDER:	 		 	THE BANK OF NOVA SCOTIA
				
		 		 	By:	 	/s/ Alan Dawson
		 		 	Name:	 	Alan Dawson
		 		 	Title:	 	Director

 [SIGNATURE PAGE TO PETROQUEST
FIFTEENTH AMENDMENT AND MASTER ASSIGNMENT] 

 ANNEX I 

LIST OF MAXIMUM CREDIT AMOUNTS 
  

									
	 Name of Lender
	  	Applicable Percentage	 	 	Maximum Credit Amount	 
	 JPMorgan Chase Bank, N.A.
	  	 	100.00	% 	 	$	170,000,000.00	  
		  	  
	  
	 	 	  
	  
	 
	 TOTAL
	  	 	100.00	% 	 	$	170,000,000.00	  
		  	  
	  
	 	 	  
	  
	 

 [ANNEX I TO PETROQUEST FIFTEENTH
AMENDMENT AND MASTER ASSIGNMENT]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00261-of-00352.parquet"}]]