Document:

Assignment of Operating Rights Interest

 Exhibit 10.9 
 ASSIGNMENT OF OPERATING RIGHTS INTEREST 
  

							
	OUTER CONTINENTAL SHELF	  	§	  		  	
		  	§	  		  	KNOW ALL MEN BY THESE PRESENTS:
	OFFSHORE LOUISIANA	  	§	  		  	
		  	§	  		  	

 THAT, for good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the undersigned, Juneau Exploration, L.P., a Texas limited partnership, whose address is 3700 Buffalo Speedway, Suite 925, Houston, Texas, 77098 (the “Assignor”), the present owner and holder of a certain Operating Rights
Interest (as defined below) in and to the hereinafter identified oil and gas lease, does hereby GRANT, BARGAIN, SELL, ASSIGN and CONVEY unto Contango Operators, Inc., a Delaware corporation, whose address is 3700 Buffalo Speedway, Suite 960,
Houston, Texas, 77098 (the “Assignee”), subject to the terms and conditions hereinafter set forth, an undivided 2.45245% Operating Rights Interest in and to the following identified oil and gas lease limited to the depths described (the
“Lease”), including, without limitation, any and all wells, caissons, platforms, pipelines, facilities, equipment and related assets appurtenant to such Lease together with all oil, gas and/or condensate produced therefrom (collectively,
the “Assigned Interests”): 
 Oil and Gas Lease of Submerged Lands under the Outer Continental Shelf Lands Act, bearing Serial
Number OCS-G 23851, effective July 1, 2002, by and between the United States of America, as Lessor, and Union Oil Company of California, as Lessee, covering that portion of Block 10, Eugene Island Area, OCS Leasing Map, Louisiana Map
No. 4, seaward of the 1975 Supreme Court Decree Line specifically described in said Lease, containing approximately 2,302.65 acres, LIMITED IN DEPTH from the surface of the earth down to 100’ below the stratigraphic equivalent of
15,593’ TVD as seen in the log for Eugene Island Area, Block 10 #1 Well (API 17-709-41450-00). 
 The term “Operating
Rights Interest”, as used herein, shall mean the right to drill for, produce, remove, own and dispose of oil, gas and/or condensate that may be found on and produced from the Lease. 
 TO HAVE AND TO HOLD the Assigned Interests unto Assignee and its successors and assigns forever, together with all rights and privileges appurtenant
thereto. Assignor specially warrants title to the Assigned Interests as to all claims by, through and under it but not otherwise. 
 This
Assignment and the Assigned Interests conveyed herein are subject to the following: 
 1. All the terms and the express and implied covenants,
obligations and conditions of the Lease, which terms, covenants, obligations and conditions Assignee hereby assumes and agrees to perform with respect to the Assigned Interests; 
 2. The terms and provisions of the contracts, agreements and assignments identified on Exhibit “A” (collectively, the “Contracts”)
attached hereto and made a part hereof for all purposes, and Assignee, to the extent of the Assigned Interests, agrees to be bound by and assumes all of its respective obligations under and pursuant to each of the Contracts, including, without
limitation, a proportionate share of the overriding royalty interests provided for in the Contracts to the extent same apply to the Assigned Interests; and 
  

					
	Assignment (Final) of Dutch Lease G23851 – Juneau to COI	  	1	  	
	 1-LA/970622.4
	  	  	

 3. To the extent not described on Exhibit “A” hereto, all assignments, conveyances, liens or
agreements of record in the offices of the Minerals Management Service, New Orleans, Louisiana or in the public records of the parish adjacent to the lands covered by the Lease. 
 From and after the Effective Date (as defined hereafter), all operations conducted by Assignee with respect to the Lease shall be conducted in accordance
with the terms and conditions of the Lease and in compliance with all applicable orders, laws, ordinances, rules and regulations of federal, state and other governmental agencies having jurisdiction over the lands covered by the Lease. 

In connection with the execution of this Assignment, Assignor and Assignee have also executed a transfer document utilizing Form MMS-151 for submittal
to and approval by the Minerals Management Service of the United States Department of the Interior. Such Form MMS-151 is not intended to convey any additional Operating Rights Interest in and to the Lease than that specified in this Assignment, and
in the event of a conflict between the description of the Lease as set forth in this Assignment and the description of the Lease set forth in the Form MMS-151, the description set forth in this Assignment shall control. 
 Assignor and Assignee agree to execute such other documents as may be reasonably necessary in order that this Assignment, or such governmental transfer
form as may have been executed by the parties in connection herewith, can be approved by the appropriate governmental authority having jurisdiction, and to execute such governmental forms as may be required of Assignee by such governmental authority
to designate Contango Operators, Inc. as the current operator of the Lease. 
 This Assignment shall bind and inure to the benefit of and be
binding upon Assignor and Assignee and their respective successors and assigns. 
 [Signature Page Follows] 
  

					
	Assignment (Final) of Dutch Lease G23851 – Juneau to COI	  	2	  	
	 1-LA/970622.4
	  	  	

 IN WITNESS WHEREOF, this Assignment is executed before the undersigned competent witnesses by the parties
as of the 3rd day of January, 2008 but effective for all purposes as of January 1, 2008 (“Effective Date”). 
  

									
			
	WITNESSES:	 		 	Juneau Exploration, L.P.
		 		 	By: Juneau GP, LLC, its General Partner
	  
	 		 	
					
	Printed Name:	 	  
	 		 	By:	 	 /s/ John B. Juneau

				
	  
	 		 		 	John B. Juneau
					
	Printed Name:	 	  
	 		 		 	Sole Manager
			
	WITNESSES:	 		 	Contango Operators, Inc.
			
	  
	 		 	
					
	Printed Name:	 	  
	 		 	By:	 	 /s/ Kenneth R. Peak

				
	  
	 		 		 	Kenneth R. Peak
					
	Printed Name:	 	  
	 		 		 	Chairman & Secretary

  

					
	Assignment (Final) of Dutch Lease G23851 – Juneau to COI	  	3	  	
	 1-LA/970622.4
	  	  	

							
	STATE OF TEXAS	  	§	  		  	
		  	§	  		  	
	COUNTY OF HARRIS	  	§	  		  	

 I,
                                        ,
a Notary Public in and for said County and State, hereby certify that John B. Juneau, whose name as Sole Manager of Juneau GP, LLC, the General Partner of Juneau Exploration, L.P., is signed to the foregoing instrument, and who is known to me,
acknowledged before me on this day that, being informed of the contents of said instrument, he, as such officer, and with full authority, executed the same voluntarily for and as the act of said company. 
 Given under my hand and official seal, this      day of             ,
200    . 
  

											
	My Commission Expires:	  		  	  
	  	
	  
	  		  	Notary Public in and for the State of Texas

							
				
	STATE OF TEXAS	  	§	  		  	
		  	§	  		  	
	COUNTY OF HARRIS	  	§	  		  	

 I,
                                        ,
a Notary Public in and for said County and State, hereby certify that Kenneth R. Peak, whose name as Chairman & Secretary of Contango Operators, Inc., is signed to the foregoing instrument, and who is known to me, acknowledged before me on
this day that, being informed of the contents of said instrument, he, as such officer, and with full authority, executed the same voluntarily for and as the act of said company. 
 Given under my hand and official seal, this      day of             , 200    . 
  

											
	My Commission Expires:	  		  	  
	  	
	  
	  		  	Notary Public in and for the State of Texas

  

					
	Assignment (Final) of Dutch Lease G23851 – Juneau to COI	  	4	  	
	 1-LA/970622.4
	  	  	

 EXHIBIT “A” 
 to 
 Assignment of Operating Rights Interest 
 The Assigned Interests are subject to the following contracts, agreements and assignments, to-wit: 
  

	1.	Farmout Agreement, executed by and between Devon Louisiana Corporation and Union Oil Company of California, as Farmor, and Republic Exploration LLC and Contango Operators, Inc., as
Farmees, dated April 1, 2005 (the “Farmout Agreement”). Pursuant to the Farmout Agreement, any further transfers of the Assigned Interest require the written consent of the Farmor. All of the provisions of the Farmout Agreement are
incorporated herein by reference thereto. 

  

	2.	Joint Operating Agreement, executed by and between Contango Operators, Inc., as Operator, and Republic Exploration LLC, CGM, L.P., Olympic Energy Partners, LLC, Devon Energy
Production Company, L.P., and Union Oil Company of California, as Non-Operators, dated December 14, 2006, the terms of which are incorporated herein by reference thereto. 

  

	3.	Area of Mutual Interest Agreement (Eugene Island Area Block 10), executed by and between Contango Operators, Inc., Republic Exploration LLC, CGM, L.P., Olympic Energy Partners, LLC,
and Union Oil Company of California, dated February 7, 2007, the terms of which are incorporated by reference thereto. 

  

	4.	Assignment of Operating Rights Interest in Federal OCS Oil and Gas Lease, dated effective as of November 19, 2006, executed by Devon Energy Production, L.P. in favor of
Republic Exploration LLC. 

  

	5.	Assignment of Operating Rights Interest in Federal OCS Oil and Gas Lease, dated effective as of November 19, 2006, executed by Union Oil Company of California in favor of
Republic Exploration LLC. 

  

	6.	Assignment of Overriding Royalty Interest, dated effective as of November 20, 2006, executed by Republic Exploration LLC in favor of Linda G. Ferszt, Dutch Royalty Investments,
Land and Leasing, LP, Mark A. Stephens, Gary Clack, and Contango Operators, Inc. 

  

					
	Assignment (Final) of Dutch Lease G23851 – Juneau to COI	  	5	  	
	 1-LA/970622.4Third Amendment to the Consumer Credit Card Program Agreement

 Exhibit 10.1 
 Confidential Materials omitted and filed separately with the Securities 
 and Exchange Commission. Asterisks
denote omissions. 
 Third Amendment to the Consumer Credit Card Program Agreement 
 by and between 
 Bank One Delaware,
N.A. n/k/a Chase Bank USA, N.A. 
 and 
 Circuit City Stores, Inc. 
 Confidential 
  

 1 

 Execution Version 
 Third Amendment to the Consumer Credit Card Program Agreement 
 This Third Amendment
(“Amendment”) is dated as of October 24, 2007 and amends the Consumer Credit Card Program Agreement dated January 16, 2004, as amended by Amendment to Program Agreement dated and effective as of May 25, 2004 and Amendment #2
to Program Agreement, dated and effective as of May 25, 2004 (“Agreement”) by and between Bank One Delaware, N.A. n/k/a Chase Bank USA, N.A (“Bank”) and Circuit City Stores, Inc. (“Company”). 
 Whereas, Bank and Company desire to modify certain economic and other terms of the Agreement, including, certain payments to Company, the terms on which
Promotional Sales Plans will be offered and of the Term of the Agreement. 
 Now, therefore, for and in consideration of these premises and
other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, Company and Bank hereby agree as follows: 
 (1) Definitions, Effectiveness. Unless otherwise defined herein, all capitalized terms shall have the meaning set forth in the Agreement. The provisions of this Amendment shall apply and be effective from, after and including the
Program Year that commenced on June 1, 2007. 
 (2) Consideration. In consideration of Company’s agreement to enter into
this Amendment, Bank agrees to pay Company the sum of [***] dollars ($[***]) on the schedule set forth in Attachment 1, which is attached hereto and incorporated by reference. 
 (a) The parties agree that (i) [***] dollars ($[***]) of the payments to be made to Company pursuant to this Amendment is in consideration of the
changes to the economic terms and certain other terms of the Agreement as more particularly set forth herein, as well as Company’s agreement to extend the Term of the Agreement as set forth in Section 7 of this Amendment (the “Program
Amendment Consideration”); and (ii) [***] dollars ($[***]) of the payments to be made to Company pursuant to this Amendment is in consideration of Company’s agreement to provide adequate resources to support Bank’s credit
platform conversion (the “Technology Conversion Consideration”), which is anticipated to occur during calendar year third quarter 2008 (the “Anticipated Conversion Period”). 
 (b) The parties agree that each of the Program Amendment Consideration and the Technology Conversion Consideration are non-refundable. The parties
further agree that Bank’s obligation to make the Program Amendment Consideration payments shall extend through the date of termination of the Agreement (the “Termination Date”) and the Program Amendment Consideration shall be
pro-rated for any partial Program Year. Should Bank’s credit platform conversion be delayed beyond the Anticipated Conversion Period because of a failure by Company to meet any obligations in respect thereof which 

  

 2 

 Execution Version 
  

 
Bank reasonably believes materially contributed to such delay, Company shall pay to Bank, on December 31, 2008, up to a maximum of [***] dollars
($[***]); provided, that upon Company’s completion of its obligations in respect of the credit platform conversion, all amounts paid by Company to Bank pursuant to this clause 2(b) shall be paid back to Company by Bank in full within thirty
(30) days of the date on which Company fulfilled its obligations in respect of the credit platform conversion. 
 (c) If the retroactive
application of the changes to any of the economic terms of the Agreement causes any payments to become due and owing to Bank by Company, such payments shall be made to Bank by December 31, 2007. 
 (3) Store Director and Associate Evaluations. Subsection 2.2 (d) of the Agreement is hereby deleted in its entirety and a new Subsection 2.2
(d) is hereby substituted therefore. 
 “Company shall actively promote the Program by including the following: (i) providing
training to its employees regarding the Program; and (ii) providing Program materials to customers that are the most recent Program materials provided by Bank to Company Locations. Company shall include promotion of the Program and Account
production as part of the overall job accountability of store directors and store associates responsible for the Credit Card application process, as well as such other job accountability standards as agreed upon by the Management Committee and
Company’s human resources department. Notwithstanding the foregoing, Company shall maintain the right to address job accountability issues in its sole discretion, and failure of store directors or store associates to meet any job accountability
standards shall not create an Event of Default under the Agreement.” 
 (4) Joint Marketing Commitment. A new Subsection 2.5(d)
is hereby added to the Agreement as follows: 
 “Joint Marketing Commitment. Company and Bank hereby agree to establish a joint
marketing commitment, which shall represent the minimum commitment of marketing dollars to be expended by Bank and Company each Program Year for the promotion of the Program during the remaining Term of the Agreement (“Joint Marketing
Commitment”). Bank shall contribute the sum of [***] dollars ($[***]) annually, which sum is exclusive of Bank’s funding of its field sales force, and Company shall contribute the sum of [***] dollars ($[***]) annually to the Joint
Marketing Commitment. The use of the Joint Marketing Commitment shall be as approved by the Management Committee in accordance with the joint obligations of Bank and Company to develop and review Marketing Plans, as required by Section 2.4.
Bank and Company further agree that in support of the Marketing efforts funded through the Joint Marketing Commitment, they shall each provide such data, analytics, and other supports as may be reasonably necessary to measure the results as compared
to the targets established for each marketing effort.” 
  

 3 

 Execution Version 
  

 (5) Promotional Financing Programs. Exhibit 2.6 (c) of the Agreement is deleted in its
entirety and is hereby replaced with the new Exhibit 2.6 (c), which is attached hereto and incorporated by reference. 
 (6)
Definition of Net Yield (in Exhibit 2.6(f)). 
 (a) Exhibit 2.6(f) of the Agreement is hereby amended by deleting the definition of
Net Yield set forth therein and in lieu thereof inserting the following definition: 
 “Net Yield” = [***]” 
 (b) The document entitled “Requirements Document v 1.1 Circuit City Portfolio Net Yield” (last updated July 14, 2006) shall be amended as
v 2.1 to include the definition of Net Yield set forth in Section 6(a) of this Amendment. 
 (7) Initial Term. The Initial Term
of the Agreement is extended to eight years from seven years by the following modifications to Section 9.1(a). 
 Section 9.1(a) is
hereby amended in the ninth line by deleting the word “seventh” and substituting in lieu thereof the word “eighth”. 
 (8) Program Year. The definition of “Program Year” set forth in Exhibit 1.1 of the Agreement is hereby deleted in its entirety and the following is substituted in lieu thereof. 
 “Program Year. Program Year means the year of time running during the Term of the
Agreement from June 1st of one calendar year to May 31st of the next calendar year, except the First Program Year shall run from May 25, 2004 to May 31, 2005. Program Year quarters end on August 31st, November 30th, the last day of February, and the last day of the Program Year for any given Program Year.”

 (9) Ratification. Except as expressly modified herein, the parties hereby ratify and confirm the terms
of the Agreement. 
 [remainder of page intentionally left blank] 
  

 4 

 Execution Version 
  

 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the date
set forth above. 
  

			
	Chase Bank USA, N.A.
		
	By:	 	 /s/ Daniel P. Tierney

	Name:	 	Daniel P. Tierney
	Title:	 	Private Label Executive
	
	Circuit City Stores, Inc.
		
	By:	 	 /s/ Philip J. Schoonover

	Name:	 	Philip J. Schoonover
	Title:	 	Chairman, President and CEO

  

 5 

 Execution Version 
  

 Attachment 1 
 Consideration 
 Program Amendment Consideration: 
 The following payments totaling [***] dollars ($[***]) shall be made on or before the last day of Company’s Fiscal Year in the year designated below. 
  

			
	 Amount of Payment
	 	 Fiscal Year Ending

	$[***]	 	2/29/08
	$[***]	 	2/28/09
	$[***]	 	2/28/10
	$[***]	 	2/28/11
	$[***]	 	2/29/12

 Technology Conversion Consideration: 
 The following payments totaling [***] dollars ($[***]) shall be made on or before the last day of Company’s Fiscal Year in the year designated below. 
  

			
	 Amount of Payment
	 	 Fiscal Year Ending

	$[***]	 	2/29/08

  

 6 

 Execution Version 
  

 Exhibit 2.6 (c) 
 Promotional Sales Plans 
 [***] 
 Total of five (5) pages omitted and filed separately with the Securities and Exchange Commission. Asterisks denote omissions. 
  

 7

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