Document:

EX-10.33

 EXHIBIT 10.33 

RIVERVIEW FINANCIAL CORPORATION 

EMPLOYEE STOCK PURCHASE PLAN 

Purpose. The purpose of this Plan is to provide a means whereby Employees, as defined below, will have the opportunity to acquire a proprietary
interest in Riverview Financial Corporation through the purchase of Common Stock of the Company. As used herein the term “Employee” means employees of the Company, any successor to the Company and/or any present or future Subsidiary
thereof (including officers and directors who are also employees). The term “Subsidiary” shall mean any present or future corporation which qualifies as a subsidiary of the Company under the definition of “subsidiary corporation”
contained in Section 424(f) of the Internal Revenue Code of 1986 (the “Code”), as amended from time to time. This Plan is intended to qualify as an employee stock purchase plan under Section 423 of the Code and the
provisions of this Plan shall be construed so as to extend and limit participation in a manner consistent with the requirements of such Section. 

Definitions. For purposes of the Plan, the following words or phrases have the meanings assigned to them below: 

“Affiliate” shall mean a parent or subsidiary corporation as defined in Section 424 of the Code (substituting
“Company” for “employer corporation”), including a parent or a subsidiary which becomes such after the adoption of the Plan. 

“Board” shall mean the Board of Directors of the Company. 

“Code” shall mean the Internal Revenue Code of 1986, as amended. 

“Committee” shall mean the Compensation Committee of the Board or person or persons to which responsibility for
administration of the Plan has been delegated by the Board. 
 “Company” shall mean Riverview Financial Corporation. 

“Date of Grant” in respect of any option granted under the Plan shall mean the date on which that option is granted by the
Board. 
 “Date of Exercise” in respect of any option granted under the Plan shall be the date or dates specified by the
Committee. 
 “NASDAQ” shall mean The NASDAQ Stock Market LLC. 

“Optionee” shall mean an employee to whom an option has been granted pursuant to the Plan. 

“Plan” shall mean this Employee Stock Purchase Plan. 

“Stock” shall mean the $0.00 par value common stock of the Company. 

“Total Compensation” shall mean the total remuneration paid to an employee by the Company and its affiliates during any
calendar year, as reported on the employee’s Federal Income Tax Withholding Statement(s) (Form W-2). 

 Administration of the Plan 

The Plan shall be administered by the Committee of the Board or person or persons to which responsibility for administration of the Plan has
been delegated by the Board of Directors. 
 The Committee shall be vested with full authority to adopt, amend and rescind such rules,
regulations and procedures as it deems necessary or desirable to administer the Plan and to interpret the provisions of the Plan, unless otherwise determined by the Board. Any determination, decision or action of the Committee in connection with the
construction, interpretation, administration or application of the Plan shall be final, conclusive and binding upon all Optionees and any person claiming under or through an Optionee, unless otherwise determined by the Board. 

Any determination, decision or action of the Committee provided for in the Plan may be made or taken by action of a majority of the members of
the Board if it so determines, with the same force and effect as if such determination, decision or action had been made or taken by the Committee. No member of the Committee or of the Board shall be liable for any determination, decision or action
made in good faith with respect to the Plan or any option granted under the Plan. 
 Stock Subject to the Plan. 

The Board shall have the authority from time to time to grant options under the Plan to purchase an additional 170,000 shares of Stock, subject
to adjustment as provided in Section 10 below. As the Board may determine from time to time, the Stock optioned may consist either in whole or in part of authorized but unissued shares or shares held in treasury. 

Eligibility. 
 When options are granted
under the Plan, options shall be granted to all employees of the Company or any affiliate who was an employee in good standing with Riverview and/or any affiliate and/or any entity acquired by or consolidated with or merged into Riverview during the
ninety (90) day period immediately preceding the date on which options are granted, except that the Committee may elect to exclude those employees who customarily work 20 hours or less per week. 

Allocation of Optioned Stock.  
 A.
When options are granted under the Plan, each eligible employee shall be granted an option to purchase the number of whole shares that can be purchased, at the applicable option price established by the Committee, with a percentage (which shall be
uniform for all eligible employees) of his Total Compensation for the immediately preceding calendar year; provided, however, that the Committee may limit the maximum number of shares that may be purchased pursuant to each option provided that such
limitation is uniform for all eligible employees. 
 B. All options granted under the Plan shall be subject to the following additional
limitations: 
 No option shall be granted to any employee who, immediately after the grant, would own stock possessing five
percent or more of the total combined voting power of the Company or any of its affiliates. In computing the stock ownership of an employee for purposes of this limitation, the rules of Section 424(d) of the Code shall apply and stock which an
employee may purchase under the Plan or under any other plan maintained by the Company shall be treated as stock owned by that employee. 

No option shall be granted to any employee which at the Date of Grant, would permit his rights to purchase stock under the
Plan and all other employee stock purchase plans, if any, of the Company and its affiliates to accrue at a rate exceeding $25,000 of fair market value (determined pursuant to Section 7 below) for each calendar year in which such option is
outstanding at any time. 

 Option Price 

The option price per share of the Stock that may be purchased pursuant to each option shall be determined by the Committee, subject to approval
by the Board, but shall not in any event be less than the lesser of (i) 85% of the fair market value per share of the Stock on the Date of Grant, or (ii) 85% of the fair market value per share of the Stock on the Date of Exercise, subject
to adjustment as set forth in Section 10 below. 
 In the event the Stock is not listed on an established stock exchange or NASDAQ, the
fair market value of the Stock shall be based on the weighted average of the price of Stock traded on the open market during the fourteen (14) days preceding the Date of Grant. 

In the event the Stock is not traded on an established stock exchange or NASDAQ and the fair market value cannot, in the Committee’s
reasonable discretion, be determined under Section 7B above, then the fair market value of the Stock shall be as determined in good faith by the Committee. 

During such time as the Stock is not listed on an established stock exchange but is listed in NASDAQ, the fair market value per share shall be
the average of the highest and lowest trading prices for the Stock on the applicable date or, if no trade of Stock occurred on that day, the fair market value shall be determined by reference to such prices on the next preceding day on which such
prices were quoted. 
 Terms and Conditions of Options. 

Each eligible employee who desires to accept all or any part of the option to purchase shares of Stock under the Plan shall signify his or her
election to do so by authorizing the Company or Affiliate, in the form and manner prescribed by the Company, to make payroll deductions. 

Each option granted under the Plan shall expire on the date determined by the Committee; provided, however, that, subject to the provisions of
paragraph (d) below, each option shall terminate not later than the date which is five years from the Date of Grant, and provided further, that, notwithstanding anything to the contrary otherwise provided herein, options exercised more than 27
months after the Date of Grant must be exercised at an option price per share equal to 85% of the fair market value per share on the Date of Exercise. 

The Committee may from time to time establish such further terms, conditions and limitations on the exercise of options granted under the Plan
as it may, in its sole discretion, deem appropriate, and which are not inconsistent with Section 423 of the Code, including, without limitation, payroll deduction requirements, restrictions on exercise dates, restrictions on transfer of the
Stock purchased pursuant to the options granted under the Plan and participation in the dividend reinvestment plan of the Company. 
 An
option granted pursuant to the Plan may be exercised only while the Optionee is employed by the Company or one of its affiliates and, if not fully exercised prior to termination of employment, will expire on the date of termination, whether by
death, disability, or otherwise; provided, however, that in the event of a termination of employment by reason of retirement or death, the option may be exercised by the Optionee or his heirs or personal representatives, as the case may be, for a
period of three months following termination of employment. 
 During the lifetime of an Optionee, an option granted pursuant to the Plan
shall be exercisable only by the Optionee and shall not be assignable or transferable by him other than by will or the laws of descent and distribution as provided in subsection (D) of this section. 

Exercise of Options. 
 Each Optionee who
elects to exercise an option granted pursuant to this Plan shall comply with such rules, regulations and procedures regarding the exercise of options, as the Committee shall from time to time establish. 

 Changes in Capital Structure 

In the event of any change in the Stock subject to the Plan or the Stock subject to any option granted hereunder, through merger,
consolidation, reorganization, recapitalization, reincorporation, stock split, stock dividend or other change in the corporate structure of the Company, the Committee shall appropriately adjust the number of shares subject to the Plan and, where
appropriate, the maximum number of shares subject to each outstanding option. Such adjustment shall not result in the issuance of fractional shares. Each such adjustment shall be made in such manner as not to constitute a “modification” of
the option as defined in Section 424 of the Code. 
 If the Company is succeeded by another corporation in a merger or consolidation or
if more than 50% of its stock is acquired by another corporation, all options granted under the Plan shall be assumed by the successor corporation and each such option shall be applicable to the stock of the successor corporation, with only such
modifications as may be necessary to continue the status of such option as an option granted under an employee stock purchase plan within the meaning of Section 423 of the Code. 

The grant of an option pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments,
reclassifications, reorganizations or changes in its capital or business structure or to merge, consolidate, dissolve, liquidate, sell or transfer all or any part of its business or assets. 

Registration of Stock. 
 No option granted
pursuant to the Plan shall be exercisable in whole or in part if at any time the Committee shall determine in its discretion that the listing, registration or qualification of the shares of Stock subject to such option on any securities exchange or
under any applicable law, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition of, or in connection with, the granting of such option or the issuance of shares thereunder, unless such listing,
registration, qualification, consent or approval may be effected or obtained free of any conditions not acceptable to the Board. 
 Amendment or
Termination of the Plan. 
 The Board may at any time amend, modify, suspend or terminate the Plan; provided that, except as
provided in Section 10, above, the Board may not, without the consent of the shareholders of the Company, make any amendment or modification which: 

increases the maximum number of shares of Stock as to which options may be granted under the Plan, 

changes the class of eligible employees, 

increases materially the benefits accruing to an employee under the Plan, or 

otherwise requires the approval of the shareholders of the Company in order to maintain the exemption available under
Rule 16b-3 (or any similar rule) under the Securities Exchange Act of 1934. 
 Notwithstanding the provisions of paragraph
(a) above, the Board reserves the right to amend or modify the terms and provisions of the Plan and of any outstanding options granted under the Plan to the extent necessary to qualify the options granted under the Plan for such favorable
federal income tax treatment (including deferral of taxation upon exercise) as may be afforded options granted under an employee stock purchase plan within the meaning of Section 423 of the Code, the regulations promulgated thereunder, and any
amendments or replacements thereof. 
 No amendment, modification or termination of the Plan (whether by action of the Board or by
expiration of the Plan term) shall in any manner affect any option theretofore granted under the Plan without the consent of the Optionee or any person claiming under or through the Optionee. 

 Effective Date. 

The Plan shall become effective on the date on which it is adopted by the Board, provided that the Plan is approved by the shareholders of the
Company within twelve months thereafter. The Board may issue options pursuant to the Plan prior to its approval by the shareholders of the Company, provided that all such options are contingent upon shareholder approval of the Plan within said
twelve-month period.EX-10.1

 Exhibit 10.1 

Execution Version 
  

 
  

SEVENTH AMENDMENT TO 

CREDIT AGREEMENT 

dated as of 

March 31, 2014 

among 

PETROQUEST ENERGY, INC., 

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

JPMORGAN CHASE BANK, N.A., 

as Administrative Agent, 

and 
 The Lenders
Party Hereto 
  
  

WELLS FARGO BANK, N.A., 

as Syndication Agent, 

and 
 CAPITAL
ONE, N.A., 
 as Documentation Agent 
  

 
 J.P. MORGAN
SECURITIES LLC, 
 as Lead Arranger 
  

 
  

 SEVENTH AMENDMENT TO CREDIT AGREEMENT 

THIS SEVENTH AMENDMENT TO CREDIT AGREEMENT (this “Seventh Amendment”) dated as of March 31, 2014, is among
PETROQUEST ENERGY, INC., a Delaware corporation, as the Parent, PETROQUEST ENERGY, L.L.C., a Louisiana limited liability company, as the Borrower, 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 by that certain First Amendment to Credit Agreement dated as of March 24, 2009, that certain Second Amendment to Credit Agreement dated as of September 30, 2009, that certain Third Amendment to Credit
Agreement dated as of August 5, 2010, that certain Fourth Amendment to Credit Agreement dated as of October 3, 2011, that certain Fifth Amendment to Credit Agreement dated as of March 29, 2013 and that certain Sixth Amendment to
Credit Agreement dated as of June 19, 2013 (as otherwise amended, restated, supplemented or modified from time to time, the “Credit Agreement”), pursuant to which the Lenders have made certain loans to and extensions of credit
for the account of the Borrower; and 
 WHEREAS, the Borrower has requested, among other things, that (a) the negative covenant
regarding Swap Agreements contained in Section 9.18 of the Credit Agreement and other provisions related to such covenant be amended on the terms and as further described herein, (b) the Borrowing Base be reaffirmed at $200,000,000 and
(c) the Credit Agreement be further amended as more particularly set forth herein; and 
 WHEREAS, the Borrower has requested that Bank
of America, N.A. and The Bank of Nova Scotia (the foregoing financial institutions collectively referred to as “New Lenders” and, each individually, a “New Lender”) become new Lenders under the Credit Agreement with
Maximum Credit Amounts as shown on Annex I to the Credit Agreement (as replaced in its entirety by Annex I attached hereto; for the purposes of this Seventh Amendment, every reference to “Lender” herein shall be deemed to include
each New Lender). 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 Section 1. Defined Terms.
Each capitalized term 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 Seventh Amendment. Unless otherwise indicated, all article and section references in this Seventh 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 Seventh 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 Seventh Amendment Effective Date
(as defined below) in the manner provided in this Section 2. 
 2.1 Amendments to Section 1.02. 

(a) The definition of “Agreement” is hereby amended and restated in its entirety to read in full as follows: 

“Agreement” means this Credit Agreement, as amended by the First Amendment, the Second Amendment, the Third
Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment and the Seventh Amendment as the same may from time to time be further amended, modified, supplemented or restated. 

(b) The definition of “Approved Counterparty” is hereby amended and restated in its entirety to read in full as follows:

 “Approved Counterparty” means (a) any Lender or any Affiliate of a Lender and (b) any other
Person whose issuer rating or long term senior unsecured debt rating, at the time the Swap Agreement is entered into, is A/A2 by S&P or Moody’s (or their equivalent) or higher (or whose obligations under the applicable Swap Agreement are
guaranteed by an Affiliate or other credit support provider of such Person meeting such minimum rating standards at the time the Swap Agreement is entered into). 

(c) The following definition is added where alphabetically appropriate: 

“Seventh Amendment” means the Seventh Amendment to Credit Agreement dated as of March 31, 2014 among the
Parent, the Borrower, the Administrative Agent, and the Lenders party thereto. 
 2.2 Amendment to
Section 8.01(d). Section 8.01(d) of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows: 

(d) Certificate of Financial Officer – Swap Agreements. Concurrently with the delivery of each Reserve Report hereunder, a
certificate of a Financial Officer, in form and substance satisfactory to the Administrative Agent, setting forth as of a recent date, a true and complete list of all Swap Agreements of the Parent and each Subsidiary, the material terms thereof
(including the type, term, effective date, termination date and notional amounts or volumes set forth on a monthly basis for the remaining term of each Swap Agreement), the net mark-to-market value thereof, any new credit support agreements relating
thereto not listed on Schedule 7.20, and confirming no margin required or supplied under any credit support document, and any amendments relating thereto and the counterparty to each such agreement. 

  
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 2.3 Amendment to Section 8.01(n). Section 8.01(n) of the Credit
Agreement is hereby amended and restated in its entirety to read in full as follows: 
 (n) Forecasted and Actual Production Reports and
Lease Operating Statements. As soon as available, but in any event not later than 45 days after the end of each fiscal quarter of the Parent, a report setting forth: (i) for each calendar month for the most recently ended 12 calendar month
period as of the last day of the most recently ended fiscal quarter of the Parent, the volume of production, sales attributable to production (and the prices at which such sales were made and the revenues derived from such sales) and the volume of
production which was hedged for each such calendar month from the Oil and Gas Properties of the Borrower and its Subsidiaries, and setting forth the related ad valorem, severance and production taxes and lease operating expenses attributable thereto
and incurred for each calendar month; and (ii) (A) the “forecasted production from proved developed producing reserves” (as such term is defined in Section 9.18), (B) the “forecasted production from total proved
reserves” (as such term is defined in Section 9.18), and (C) the notional amounts and volumes of each Swap Agreement of the Parent and each Subsidiary, in each case for each of subsections (A), (B) and (C) above, for each
calendar month for the 60 month period following the last day of the most recently ended fiscal quarter of the Parent. 
 2.4
Amendment to Section 9.12. Section 9.12 of the Credit Agreement is hereby amended and restated in its entirety to read in full as follows: 

Section 9.12 Sale of Properties. The Borrower will not, and will not permit any of the Borrower’s Subsidiaries to, sell,
assign, farm-out, convey or otherwise transfer any Property (including, without limitation, any forfeiture of any Property except where such forfeiture is being contested in good faith by appropriate proceedings) or sell, assign, monetize, transfer,
cancel, terminate, unwind or otherwise dispose of any Swap Agreement in respect of commodities, except for: 
 (a) the sale of Hydrocarbons
in the ordinary course of business; 
 (b) transfers of interests in undeveloped acreage or undrilled depths in the ordinary course of the
joint development of Oil and Gas Properties with others including, without limitation, transfers to other parties pursuant to joint development agreements, participation agreements, farm-out agreements, farm-in agreements, exploration agreements,
operating agreements and unit agreements; 
 (c) the sale or transfer of equipment that is no longer necessary for its business or the
business of such Subsidiary or is replaced by equipment of at least comparable value and use; 
 (d) the sale or other disposition
(including Casualty Events) of any Oil and Gas Property or any interest therein or any of its Subsidiaries (other than the Borrower) owning Oil and Gas Properties and the sale, assignment, monetization, transfer, cancellation, termination, unwinding
or other disposal of any Swap Agreement in respect of commodities; provided that with respect to this clause (d), 

  
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 (i) the consideration received in respect of such sale or other disposition
(including, without limitation, asset exchanges under Section 1031 of the Code) or such sale, assignment, monetization, transfer, cancellation, termination, unwinding or other disposal of any Swap Agreement in respect of commodities shall be
equal to or greater than the fair market value of the Oil and Gas Property, interest therein or Subsidiary subject of such sale or other disposition, or Swap Agreement subject of such sale, assignment, monetization, transfer, cancellation,
termination, unwinding or other disposal (as reasonably determined by the board of managers (or comparable governing body) of the Borrower, and, if requested by the Administrative Agent, the Borrower shall deliver a certificate of its Responsible
Officer certifying to that effect); and 
 (ii) if the aggregate fair market value of such sales or other dispositions of
Oil and Gas Property (or of a Subsidiary owning Oil and Gas Properties) under this clause (d) and included in the most recently delivered Reserve Report together with the fair market value of such Swap Agreements sold, assigned, monetized,
transferred, cancelled, terminated, unwound or otherwise disposed of under this clause (d), in each case during any period between two successive Scheduled Redetermination Dates is in excess of five percent (5%) of the Borrowing Base as then in
effect, individually or in the aggregate, the Borrowing Base shall be reduced, effective immediately upon such sale or disposition by an amount equal to the value, if any, attributed to such Property in the Borrowing Base (as determined by the
Administrative Agent and approved by the Required Lenders); 
 (iii) if any such sale or other disposition is of a
Subsidiary owning Oil and Gas Properties, such sale or other disposition shall include all the Equity Interests of such Subsidiary; and 

(e) sales and other dispositions of Properties not regulated by Section 9.12(a) through Section 9.12(d) having a fair market value
not to exceed $5,000,000 during any 12-month period. 
 2.5 Amendment to Section 9.18. Section 9.18 of the
Credit Agreement is hereby amended and restated in its entirety to full as follows: 
 Section 9.18 Swap Agreements. 

(a) It will not, and will not permit any of its Subsidiaries to, enter into or maintain any Swap Agreement, except Swap Agreements entered
into in the ordinary course of business with an Approved Counterparty and not for speculative purposes to: 

  
 4 

 (i) hedge or mitigate crude oil, natural gas and natural gas liquids price risks
to which it or any Subsidiary has actual exposure; provided that any such Swap Agreement (A) does not have a term greater than sixty (60) months from the date such Swap Agreement is entered into, and (B) at all times, when aggregated
with all other Swap Agreements then in effect (other than basis differential swaps on volumes already hedged pursuant to other Swap Agreements) on any date of determination, would not cause the aggregate notional volume per month for each of crude
oil, natural gas and natural gas liquids, calculated separately, under all Swap Agreements then in effect to exceed (x) the greater of (1) one hundred percent (100%) of the “forecasted production from proved developed producing
reserves” (as defined below) of the Borrower and its Subsidiaries and (2) eighty percent (80%) of the “forecasted production from total proved reserves” (as defined below) of the Borrower and its Subsidiaries, in each case,
for any month during the first twelve (12) months of the forthcoming sixty (60) month period (the “Initial Measurement Period”), (y) eighty percent (80%) of the “forecasted production from total proved
reserves” of the Borrower and its Subsidiaries for any month during the first twelve (12) months immediately following the Initial Measurement Period (the “Second Measurement Period”), or (z) eighty-five percent
(85%) of the “forecasted production from proved developed producing reserves” of the Borrower and its Subsidiaries for any month during the thirty six (36) months immediately following the Second Measurement Period, and 

(ii) effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another
floating rate, from floating to fixed rates or otherwise) with respect to any interest-bearing liability or investment of the Parent and its Subsidiaries; provided that any such Swap Agreement, when aggregated with all other Swap Agreements in
effect on any date of determination, would not cause (x) the aggregate notional amounts of which do not exceed 50% of the then outstanding principal amount of the Parent’s and its Subsidiaries’ Debt for borrowed money which bears
interest at a fixed rate and (y) the aggregate notional amounts of which do not exceed 75% of the then outstanding principal amount of the Parent’s and its Subsidiaries’ Debt for borrowed money which bears interest at a floating rate.

  
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 As used in this Agreement, (x) “forecasted production from total
proved reserves” means the forecasted production of crude oil, natural gas and natural gas liquids as reflected in the most recent Reserve Report delivered to the Administrative Agent pursuant to Section 8.12, after giving effect to
(A) any pro forma adjustments for the consummation of any acquisitions or dispositions since the effective date of such Reserve Report and (B) any supplements to such Reserve Report that may be delivered from time to time by the Borrower
to the Administrative Agent setting forth updated well projections and other information in form and substance reasonably acceptable to the Administrative Agent reflecting drilling activity and other results of operations since the effective date of
such Reserve Report and (y) “forecasted production from proved developed producing reserves” means the forecasted production of crude oil, natural gas and natural gas liquids from proved developed producing reserves as reflected in
the most recent Reserve Report delivered to the Administrative Agent pursuant to Section 8.12, after giving effect to (A) any pro forma adjustments for the consummation of any acquisitions or dispositions since the effective date of such
Reserve Report and (B) any supplements to such Reserve Report that may be delivered from time to time by the Borrower to the Administrative Agent setting forth updated well projections and other information in form and substance reasonably
acceptable to the Administrative Agent reflecting drilling activity and other results of operations since the effective date of such Reserve Report. 

(b) It will not, and will not permit any of its Subsidiaries to, permit the aggregate notional volumes of all Swap Agreements
(other than basis differential swaps on volumes already hedged pursuant to other Swap Agreements) of the Borrower and its Subsidiaries in respect of each of crude oil, natural gas and natural gas liquids, calculated separately, for any calendar
month to exceed 100% of actual production volumes of crude oil, natural gas or natural gas liquids, as applicable, in such calendar month (as reflected in the most recent production report delivered pursuant to Section 8.01(n)). 

(c) It will not, and will not permit any of its Subsidiaries to, amend, modify, sell, assign, monetize, transfer, cancel,
terminate, unwind or otherwise dispose of any Swap Agreement in respect of commodities without the prior written consent of the Required Lenders except to the extent any such actions are permitted pursuant to Section 9.12(d). 

(d) In no event shall any Swap Agreement contain any requirement, agreement or covenant for the Borrower or any of its
Subsidiaries to post collateral or margin to secure their obligations under such Swap Agreement or to cover market exposures. 

  
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 2.6 Replacement of Annex I. Annex I to the Credit Agreement is hereby
replaced in its entirety with Annex I attached hereto and Annex I attached hereto shall be deemed to be attached as Annex I to the Credit Agreement effective as of the Seventh Amendment Effective Date. 

Section 3. Redetermination of the Borrowing Base. Subject to the conditions precedent set forth in Section 4 hereof, for the period
from and including the Seventh Amendment Effective Date, but until the next Redetermination Date, the amount of the Borrowing Base shall be redetermined at $200,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further
adjustments from time to time pursuant to Section 8.13(c), Section 8.16 and Section 9.12(d) of the Credit Agreement. The Lenders and the Borrower agree that the redetermination provided for in this Section 3 shall
constitute the Scheduled Redetermination of the Borrowing Base scheduled for on or about March 31, 2014 for purposes of Section 2.07 of the Credit Agreement. 

Section 4. Conditions Precedent. The amendments to the Credit Agreement contained in Section 2 hereof and the redetermination of the
Borrowing Base contained in Section 3 hereof, shall each be effective on the date (the “Seventh Amendment Effective Date”) that each of the following conditions precedent is satisfied or waived in accordance with
Section 12.02 of the Credit Agreement: 
 4.1 Counterparts. Administrative Agent shall have received from each of
the Lenders, the Borrower and each Guarantor, counterparts (in such number as may be requested by Administrative Agent) of this Seventh Amendment signed on behalf of such Persons. 

4.2 Upfront Fee. The Borrower shall have paid to Administrative Agent on behalf of each New Lender an upfront fee of
twenty-five (0.25%) basis points on each New Lender’s Maximum Credit Amount on the date hereof (after giving effect to the amendments to the Credit Agreement contained in Section 2 hereof). 

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 Seventh Amendment. 
 4.4
Organization/Existence/Authority Documents. Administrative Agent shall have received such documents and certificates as Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of
the Borrower and each Guarantor, the authorization of this Seventh Amendment and the transactions contemplated hereby, and any other legal matters relating to the Borrower, the Guarantors and this Seventh Amendment. 

4.5 Execution of New Notes and Return of Existing Notes. The Borrower shall have executed and delivered to
Administrative Agent new Notes in exchange for each surrendered Note in the amounts reflecting the reallocated Maximum Credit Amounts for each Lender. Each Lender that has received a Note prior to the Seventh Amendment Effective Date shall return
such Note to Administrative Agent for reissuance in order to reflect the reallocated Maximum Credit Amounts; provided that the delivery of such surrendered Notes shall not constitute an additional condition precedent to the effectiveness of this
Seventh Amendment. 

  
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 4.6 Other Documents. Administrative Agent shall have received such other
documents as Administrative Agent or counsel to Administrative Agent may reasonably request. 
 4.7 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. 
 Administrative
Agent is hereby authorized and directed to declare this Seventh 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 the Credit Agreement for all purposes. 
 Section 5.
New Lenders. Each New Lender hereby joins in, becomes party to, and agrees to comply with and be bound by the terms and conditions of the Credit Agreement as a Lender thereunder and under each and every other Loan Document to which any Lender
is required to be bound by the Credit Agreement, to the same extent as if each New Lender were an original signatory thereto. Each New Lender hereby appoints and authorizes Administrative Agent to take such action as agent on its behalf and to
exercise such powers and discretion under the Credit Agreement as are delegated to Administrative Agent by the terms thereof, together with such powers and discretion as are reasonably incidental thereto. Each New Lender represents and warrants that
(a) it has full power and authority, and has taken all action necessary, to execute and deliver this Seventh Amendment, to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (b) it has
received a copy of the Credit Agreement and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Seventh Amendment and to become a Lender on the basis of which it has made
such analysis and decision independently and without reliance on Administrative Agent or any other Lender, and (c) from and after the Seventh Amendment Effective Date, each New Lender shall be a party to and be bound by the provisions of the
Credit Agreement and the other Loan Documents and have the rights and obligations of a Lender thereunder. 
 Section 6. Lenders’ Applicable
Percentage. Effective as of the Seventh Amendment Effective Date, each Lender’s Applicable Percentage and Maximum Credit Amount is as set forth on Annex I attached hereto. After giving effect to this Seventh Amendment and any Loans
made on the Seventh Amendment Effective Date, (a) each Lender who holds Loans in an aggregate amount less than its Applicable Percentage (after giving effect to this Seventh Amendment) of all Loans shall advance new Loans which shall be
disbursed to Administrative Agent and used to repay Loans outstanding to each Lender who holds Loans in an aggregate amount greater than its Applicable Percentage of all Loans, (b) each Lender’s participation in each Letter of Credit,
including all Letters of Credit outstanding on the date of this Seventh Amendment, shall be automatically adjusted to equal its Applicable Percentage (after giving effect to this Seventh Amendment), and (c) such other adjustments shall be made
as Administrative Agent shall specify so that the outstanding Loans applicable to each Lender equals its Applicable Percentage (after giving effect to this Seventh Amendment) of the aggregate outstanding Revolving Credit Exposure of all Lenders.

  
 8 

 Section 7. Miscellaneous. 

7.1 Confirmation. The provisions of the Credit Agreement, as amended by this Seventh Amendment, shall remain in full
force and effect following the effectiveness of this Seventh Amendment. 
 7.2 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 Seventh 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.  
 7.3 Loan Document. This Seventh 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. 

7.4 Counterparts. This Seventh 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 Seventh Amendment by facsimile transmission shall be effective as delivery of a manually executed counterpart
hereof. 
 7.5 NO ORAL AGREEMENT. THIS SEVENTH 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 SEVENTH 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. 

  
 9 

 7.6 GOVERNING LAW. THIS SEVENTH AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS. 
 7.7 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 Seventh 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. 
 7.8 Severability. Any
provision of this Seventh 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. 

7.9 Successors and Assigns. This Seventh 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 Seventh Amendment to be duly executed as
of the date first written above. 
  

							
	BORROWER:	 		 		 	PETROQUEST ENERGY, L.L.C.
				
		 		 		 	 /s/ J. Bond Clement

		 		 		 	J. Bond Clement
		 		 		 	Executive Vice President, Chief Financial Officer
		 		 		 	and Treasurer
				
	PARENT:	 		 		 	PETROQUEST ENERGY, INC.
				
		 		 		 	 /s/ J. Bond Clement

		 		 		 	J. Bond Clement
		 		 		 	Executive Vice President, Chief Financial Officer
		 		 		 	and Treasurer
				
	GUARANTOR:	 		 		 	TDC ENERGY LLC
				
		 		 		 	 /s/ J. Bond Clement

		 		 		 	J. Bond Clement
		 		 		 	Executive Vice President, Chief Financial Officer
		 		 		 	and Treasurer

  
 [SIGNATURE
PAGE TO PETROQUEST SEVENTH AMENDMENT] 

							
	ADMINISTRATIVE AGENT:	 		 	JPMORGAN CHASE BANK, N.A.
	    AND LENDER	 		 	individually, as a Lender, as Administrative Agent and as Issuing Bank
				
		 		 	By:	 	 /s/ Ryan L. Aman

		 		 		 	Ryan L. Aman
		 		 		 	Authorized Officer

  
 [SIGNATURE
PAGE TO PETROQUEST SEVENTH AMENDMENT] 

									
	LENDER:	 		 	WELLS FARGO BANK, N.A.
					
		 		 		 	By:	 	 /s/ Brett Steele

		 		 		 	Name:	 	Brett Steele
		 		 		 	Title:	 	Vice President

  
 [SIGNATURE
PAGE TO PETROQUEST SEVENTH AMENDMENT] 

									
	LENDER:	 		 	CAPITAL ONE, N.A.
					
		 		 		 	By:	 	 /s/ Christopher Kuna

		 		 		 	Name:	 	Christopher Kuna
		 		 		 	Title:	 	Vice President

  
 [SIGNATURE
PAGE TO PETROQUEST SEVENTH AMENDMENT] 

									
	LENDER:	 		 	IBERIABANK
					
		 		 		 	By:	 	 /s/ W. Bryan Chapman

		 		 		 	Name:	 	W. Bryan Chapman
		 		 		 	Title:	 	Executive Vice President

  
 [SIGNATURE
PAGE TO PETROQUEST SEVENTH AMENDMENT] 

 
			
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Raza Jafferi

	Name:	 	Raza Jafferi
	 Title:
	 	 Vice President

  
 [SIGNATURE
PAGE TO PETROQUEST SEVENTH AMENDMENT] 

 
			
	THE BANK OF NOVA SCOTIA
		
	By:	 	 /s/ Justin Perdue

	Name:	 	Justin Perdue
	Title:	 	Director

  
 [SIGNATURE
PAGE TO PETROQUEST SEVENTH AMENDMENT] 

 ANNEX I 

LIST OF MAXIMUM CREDIT AMOUNTS 
  

									
	 Name of Lender
	  	Applicable
Percentage	 	 	Maximum
Credit Amount	 
	 JPMorgan Chase Bank, N.A.
	  	 	23.333333333	% 	 	$	35,000,000	  
	 Wells Fargo Bank, N.A.
	  	 	20.000000000	% 	 	$	30,000,000	  
	 Capital One, N.A.
	  	 	20.000000000	% 	 	$	30,000,000	  
	 Iberiabank
	  	 	20.000000000	% 	 	$	30,000,000	  
	 Bank of America, N.A.
	  	 	8.333333333	% 	 	$	12,500,000	  
	 The Bank of Nova Scotia
	  	 	8.333333333	% 	 	$	12,500,000	  
	 TOTAL
	  	 	100.00	% 	 	$	150,000,000	  

  
 ANNEX I

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