Document:

EX-10.4

 Exhibit 10.4 

Execution Version 
  

 
  

AMENDED AND RESTATED 

AGREEMENT OF LIMITED PARTNERSHIP 

OF 
 SRII OPCO, LP

 Dated as of February 9, 2018 
  

 
 THE UNITS REPRESENTED BY THIS AMENDED AND RESTATED
AGREEMENT OF LIMITED PARTNERSHIP HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS. SUCH UNITS MAY NOT BE SOLD, ASSIGNED, PLEDGED OR OTHERWISE DISPOSED OF AT ANY TIME
WITHOUT EFFECTIVE REGISTRATION UNDER SUCH ACT AND LAWS OR EXEMPTION THEREFROM, AND COMPLIANCE WITH THE OTHER SUBSTANTIAL RESTRICTIONS ON TRANSFERABILITY SET FORTH HEREIN. 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 Article I.
	 		  			
	 DEFINITIONS
	  	 	2	 
			
	 Article II.
	 		  			
	 ORGANIZATIONAL MATTERS
	  	 	14	 
	 Section 2.01
	 	Formation of Partnership	  	 	14	 
	 Section 2.02
	 	Amended and Restated Limited Partnership Agreement	  	 	14	 
	 Section 2.03
	 	Name	  	 	15	 
	 Section 2.04
	 	Purpose	  	 	15	 
	 Section 2.05
	 	Principal Office; Registered Office	  	 	15	 
	 Section 2.06
	 	Term	  	 	15	 
	 Section 2.07
	 	No Joint Venture	  	 	15	 
			
	 Article III.
	 		  			
	 PARTNERS; UNITS; CAPITALIZATION
	  	 	15	 
	 Section 3.01
	 	Partners	  	 	15	 
	 Section 3.02
	 	Units	  	 	16	 
	 Section 3.03
	 	New Limited Partner Contributions; Warrants; the Corporation’s Capital Contribution; the Corporation’s Purchase of Common Units	  	 	16	 
	 Section 3.04
	 	Authorization and Issuance of Additional Units	  	 	17	 
	 Section 3.05
	 	Repurchases or Redemptions	  	 	18	 
	 Section 3.06
	 	Certificates Representing Units; Lost, Stolen or Destroyed Certificates; Registration and Transfer of Units	  	 	19	 
	 Section 3.07
	 	Negative Capital Accounts	  	 	19	 
	 Section 3.08
	 	No Withdrawal	  	 	19	 
	 Section 3.09
	 	Loans From Partners	  	 	20	 
	 Section 3.10
	 	Tax Treatment of Corporate Stock Option Plans and Equity Plans	  	 	20	 
	 Section 3.11
	 	Dividend Reinvestment Plan, Cash Option Purchase Plan, Stock Incentive Plan or Other Plan	  	 	21	 
			
	 Article IV.
	 		  			
	 DISTRIBUTIONS
	  	 	22	 
	 Section 4.01
	 	Distributions	  	 	22	 
	 Section 4.02
	 	Restricted Distributions	  	 	23	 
			
	 Article V.
	 		  			
	 CAPITAL ACCOUNTS; ALLOCATIONS; TAX MATTERS
	  	 	23	 
	 Section 5.01
	 	Capital Accounts	  	 	23	 
	 Section 5.02
	 	Allocations	  	 	24	 
	 Section 5.03
	 	Regulatory and Special Allocations	  	 	25	 
	 Section 5.04
	 	Tax Allocations	  	 
	26
	 

	 Section 5.05
	 	Withholding; Indemnification and Reimbursement for Payments on Behalf of a Partner	  	 	28	 

  
 ii 

							
	 Section 5.06
	 	Tax Treatment	  	 	29	 
			
	 Article VI.
	 		  			
	 MANAGEMENT
	  	 	29	 
	 Section 6.01
	 	Authority of General Partner	  	 	29	 
	 Section 6.02
	 	Actions of the General Partner	  	 	30	 
	 Section 6.03
	 	Transfer and Withdrawal of General Partner	  	 	30	 
	 Section 6.04
	 	Transactions Between Partnership and General Partner	  	 	31	 
	 Section 6.05
	 	Reimbursement for Expenses	  	 	31	 
	 Section 6.06
	 	Delegation of Authority	  	 	32	 
	 Section 6.07
	 	Limitation of Liability of the General Partner.	  	 	32	 
	 Section 6.08
	 	Investment Company Act	  	 	33	 
	 Section 6.09
	 	Outside Activities of the Corporation and the General Partner	  	 	33	 
	 Section 6.10
	 	Standard of Care	  	 	33	 
			
	 Article VII.
	 		  			
	 RIGHTS AND OBLIGATIONS OF PARTNERS
	  	 	34	 
	 Section 7.01
	 	Limitation of Liability and Duties of Partners; Investment Opportunities	  	 	34	 
	 Section 7.02
	 	Lack of Authority	  	 	35	 
	 Section 7.03
	 	No Right of Partition	  	 	35	 
	 Section 7.04
	 	Indemnification	  	 	35	 
	 Section 7.05
	 	Limited Partners’ Right to Act	  	 	36	 
	 Section 7.06
	 	Inspection Rights	  	 	37	 
			
	 Article VIII.
	 		  			
	 BOOKS, RECORDS, ACCOUNTING AND REPORTS
	  	 	38	 
	 Section 8.01
	 	Records and Accounting	  	 	38	 
	 Section 8.02
	 	Fiscal Year	  	 	38	 
	 Section 8.03
	 	Reports	  	 	38	 
			
	 Article IX.
	 		  			
	 TAX MATTERS
	  	 	38	 
	 Section 9.01
	 	Preparation of Tax Returns	  	 	38	 
	 Section 9.02
	 	Tax Elections	  	 	39	 
	 Section 9.03
	 	Tax Controversies	  	 	39	 
			
	 Article X.
	 		  			
	 RESTRICTIONS ON TRANSFER OF UNITS
	  	 	40	 
	 Section 10.01
	 	Transfers by Partners	  	 	40	 
	 Section 10.02
	 	Permitted Transfers	  	 	40	 
	 Section 10.03
	 	Restricted Units Legend	  	 	41	 
	 Section 10.04
	 	Transfer	  	 	41	 
	 Section 10.05
	 	Assignee’s Rights	  	 	41	 
	 Section 10.06
	 	Assignor’s Rights and Obligations	  	 	42	 
	 Section 10.07
	 	Overriding Provisions	  	 	42	 

  
 iii 

							
			
	 Article XI.
	 		  			
	 REDEMPTION AND EXCHANGE RIGHTS
	  	 	43	 
	 Section 11.01
	 	Redemption Right of a Limited Partner	  	 	43	 
	 Section 11.02
	 	Contribution of the Corporation	  	 	47	 
	 Section 11.03
	 	Exchange Right of the Corporation	  	 	47	 
	 Section 11.04
	 	Reservation of Shares of Class A Common Stock; Listing; Certificate of the Corporation	  	 	48	 
	 Section 11.05
	 	Effect of Exercise of Redemption or Exchange Right	  	 	48	 
	 Section 11.06
	 	Tax Treatment	  	 	49	 
			
	 Article XII.
	 		  			
	 ADMISSION OF LIMITED PARTNERS
	  	 	49	 
	 Section 12.01
	 	Substituted Limited Partners	  	 	49	 
	 Section 12.02
	 	Additional Limited Partners	  	 	49	 
			
	 Article XIII.
	 		  			
	 WITHDRAWAL AND RESIGNATION; TERMINATION OF RIGHTS
	  	 	49	 
	 Section 13.01
	 	Withdrawal and Resignation of Limited Partners	  	 	49	 
			
	 Article XIV.
	 		  			
	 DISSOLUTION AND LIQUIDATION
	  	 	50	 
	 Section 14.01
	 	Dissolution	  	 	50	 
	 Section 14.02
	 	Liquidation and Termination	  	 	50	 
	 Section 14.03
	 	Deferment; Distribution in Kind	  	 	51	 
	 Section 14.04
	 	Cancellation of Certificate	  	 	51	 
	 Section 14.05
	 	Reasonable Time for Winding Up	  	 	51	 
	 Section 14.06
	 	Return of Capital	  	 	51	 
			
	 Article XV.
	 		  			
	 VALUATION
	  	 	52	 
	 Section 15.01
	 	Determination	  	 	52	 
	 Section 15.02
	 	Dispute Resolution	  	 	52	 
			
	 Article XVI.
	 		  			
	 GENERAL PROVISIONS
	  	 	52	 
	 Section 16.01
	 	Power of Attorney	  	 	52	 
	 Section 16.02
	 	Confidentiality	  	 	53	 
	 Section 16.03
	 	Amendments	  	 	54	 
	 Section 16.04
	 	Title to Partnership Assets	  	 	54	 
	 Section 16.05
	 	Addresses and Notices	  	 	54	 
	 Section 16.06
	 	Binding Effect; Intended Beneficiaries	  	 	55	 
	 Section 16.07
	 	Creditors	  	 	55	 
	 Section 16.08
	 	Waiver	  	 	55	 
	 Section 16.09
	 	Counterparts	  	 	55	 
	 Section 16.10
	 	Applicable Law	  	 	55	 
	 Section 16.11
	 	Severability	  	 	55	 
	 Section 16.12
	 	Further Action	  	 	55	 

  
 iv 

							
	 Section 16.13
	 	Delivery by Electronic Transmission	  	 	56	 
	 Section 16.14
	 	Right of Offset	  	 	56	 
	 Section 16.15
	 	Effectiveness	  	 	56	 
	 Section 16.16
	 	Entire Agreement	  	 	56	 
	 Section 16.17
	 	Remedies	  	 	56	 
	 Section 16.18
	 	Descriptive Headings; Interpretation	  	 	56	 

  

					
	Schedules	  		  	
			
	Schedule 1	  	–  	  	Initial Schedule of Limited Partners
			
	Exhibits	  		  	
			
	Exhibit A	  	–  	  	Form of Joinder Agreement

  
 v 

 AMENDED AND RESTATED 

AGREEMENT OF LIMITED PARTNERSHIP 

OF SRII OPCO, LP 
 This
AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP (this “Agreement”) of SRII Opco, LP, a Delaware limited partnership (the “Partnership”), dated as of February 9, 2018, is adopted, executed
and agreed to by and among SRII Opco GP, LLC, a Delaware limited liability company, as the sole general partner of the Partnership, and each of the Limited Partners (as defined herein) set forth on the signature pages hereto. 

WHEREAS, the Partnership was formed as a limited partnership pursuant to and in accordance with the Delaware Act (as defined herein) by filing
a Certificate of Limited Partnership of the Partnership (the “Certificate”) with the Secretary of State of the State of Delaware on July 18, 2017; 

WHEREAS, the General Partner, as the sole general partner of the Partnership, entered into an Agreement of Limited Partnership of the
Partnership, dated as of July 18, 2017 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time to but excluding the date hereof, together with all schedules, exhibits and annexes thereto, the
“Initial Limited Partnership Agreement”), with Alta Mesa Resources, Inc. (f/k/a Silver Run Acquisition Corporation II), a Delaware corporation (the “Corporation”), as the sole limited partner of the
Partnership; 
 WHEREAS, immediately prior to the Effective Time (as defined herein), the Corporation was the sole limited partner of the
Partnership and holder of all of the issued and outstanding Common Units (as defined below); and 
 WHEREAS, the parties are entering into
this Agreement to amend and restate the Initial Limited Partnership Agreement as of the Effective Time to reflect (a) the Unit Purchase (as defined herein), (b) the Kingfisher Contribution (as defined herein) and the consummation of the
transactions contemplated by the Kingfisher Contribution Agreement (as defined herein) and the admission of the Kingfisher Contributor (as defined herein) as a Limited Partner, (c) the Alta Mesa Contribution (as defined herein) and the
consummation of the transactions contemplated by the Alta Mesa Contribution Agreement (as defined herein) and the admission of HMH (as defined herein) as a Limited Partner, (d) the Riverstone Contribution (as defined herein) and the
consummation of the transactions contemplated by the Riverstone Contribution Agreement (as defined herein) and the admission of the Riverstone Contributor (as defined herein) as a Limited Partner and (e) the rights and obligations of the
Partners that are enumerated and agreed upon in the terms of this Agreement effective as of the Effective Time, at which time the Initial Limited Partnership Agreement shall be superseded entirely by this Agreement. 

NOW, THEREFORE, in consideration of the mutual covenants, rights and obligations set forth herein and other good and valuable consideration,
the receipt and sufficiency of which each Partner (as defined herein) hereby acknowledges and confesses, the parties hereto hereby agree as follows: 

  
 1 

 ARTICLE I. 

DEFINITIONS 
 The following
definitions shall be applied to the terms used in this Agreement for all purposes, unless otherwise clearly indicated to the contrary. 

“Additional Limited Partner” has the meaning set forth in Section 12.02. 

“Adjusted Capital Account Deficit” means, with respect to the Capital Account of any Partner as of the end of any
Taxable Year, the amount by which the balance in such Capital Account is less than zero. For this purpose, such Partner’s Capital Account balance shall be: 
  

	 	(a)	reduced for any items described in Treasury Regulations Section 1.704- 1(b)(2)(ii)(d)(4), (5), and (6); and 

 

	 	(b)	increased for any amount such Partner is obligated to contribute or is treated as being obligated to contribute to the Partnership pursuant to Treasury Regulations
Section 1.704-1(b)(2)(ii)(c) (relating to partner liabilities to a partnership) or 1.704-2(g)(1) and 1.704-2(i) (relating to
minimum gain). 

 “Admission Date” has the meaning set forth in
Section 10.06. 
 “Affiliate” (and, with a correlative meaning,
“Affiliated”) means, with respect to a specified Person, each other Person that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, the Person specified.
As used in this definition and the definition of Majority Partners, “control” (including with correlative meanings, “controlled by” and “under common control with”) means possession, directly or indirectly, of power to
direct or cause the direction of management or policies (whether through ownership of voting securities or by contract or other agreement). 

“Agreement” has the meaning set forth in the preamble to this Agreement. 

“Alta Mesa Contributed Interests” means the Contributed Interests (as defined in the Alta Mesa Contribution
Agreement). 
 “Alta Mesa Contribution” has the meaning set forth in Section 3.03(a). 

“Alta Mesa Contribution Agreement” means that certain Contribution Agreement, dated as of August 16, 2017, by and
among the Corporation, the Alta Mesa Contributors, Alta Mesa Holdings, LP, a Texas limited partnership, Alta Mesa Holdings GP, LLC, a Texas limited liability company, and, for limited purposes set forth therein, the equity holders of the Alta Mesa
Contributors named therein (as may be amended or supplemented from time to time). 
 “Alta Mesa Contributors” means
HMH and High Mesa Holdings GP, LLC, a Texas limited liability company. 
 “Appraisers” has the meaning set forth in
Section 15.02. 

  
 2 

 “Assignee” means a Person to whom a Limited Partner Interest has been
transferred but who has not become a Limited Partner pursuant to Article XII. 
 “Assumed Tax Liability”
means, with respect to any Partner at any Tax Advance Date, an amount equal to the cumulative amount of federal, state and local income taxes (including any applicable estimated taxes), determined taking into account the character of income and loss
allocated as it affects the Assumed Tax Rate, that the General Partner estimates would be due from such Partner as of the relevant Tax Advance Date, (i) assuming such Partner were an individual who earned solely the items of income, gain,
deduction, loss, and/or credit allocated to such Partner pursuant to Article V, (ii) taking into account items determined at the Partner level with respect to Depletable Properties owned by the Partnership, as if such items were
allocated at the Partnership level and using the cost depletion method, (iii) after taking proper account of loss carryforwards available to individual taxpayers resulting from losses allocated to the Partners by the Partnership, to the extent
not taken into account in prior periods, and (iv) assuming that such Partner is subject to tax at the Assumed Tax Rate. The General Partner shall reasonably determine the Assumed Tax Liability for each Partner based on such assumptions as the
General Partner deems necessary. 
 “Assumed Tax Rate” means, for any taxable year, the sum of the highest marginal
rate of federal, state, and local income tax applicable to any direct, or in the case of ownership through an entity classified as a partnership or disregarded entity for federal income tax purposes, indirect owner of a Partner (other than the
Corporation) (including any tax rate imposed under Section 1411 of the Code) determined by applying the rates applicable to ordinary income (in cases where taxes are being determined on ordinary income allocated to a Partner) and capital gains
(in cases where taxes are being determined on capital gains allocated to a Partner), and including any deduction of state and local income taxes in computing a Partner’s liability for federal income tax. The General Partner shall consult in
good faith with each other Partner to determine the Assumed Tax Rate for such Partner for any taxable year. 
 “Base
Rate” means, on any date, a variable rate per annum equal to the rate of interest most recently published by The Wall Street Journal as the “prime rate” at large U.S. money center banks. 

“Black-Out Period” means any
“black-out” or similar period under the Corporation’s policies covering trading in the Corporation’s securities to which the applicable Redeemed Partner is subject, which period restricts
the ability of such Redeemed Partner to immediately resell shares of Class A Common Stock to be delivered to such Redeemed Partner in connection with a Share Settlement. 

“Book Value” means, with respect to any Partnership property, the Partnership’s adjusted basis for U.S. federal
income tax purposes, adjusted from time to time to reflect the adjustments required or permitted by Treasury Regulations Sections 1.704-1(b)(2)(iv)(d)-(g) and 1.704-1(b)(2)(iv)(s); provided, that if any noncompensatory options (including the
Warrants) are outstanding upon the occurrence of any adjustment described herein, the Partnership shall adjust the Book Values of its properties in accordance with Treasury Regulations Sections 1.704-1(b)(2)(iv)(f)(1) and 1.704-1(b)(2)(iv)(h)(2).

  
 3 

 “Business Day” means any day other than a Saturday or a Sunday or a day
on which banks located in New York City, New York generally are authorized or required by Law to close. 
 “Capital
Account” means the capital account maintained for a Partner in accordance with Section 5.01. 

“Capital Contribution” means, with respect to any Partner, the amount of any cash, cash equivalents, promissory
obligations or the Fair Market Value of other property that such Partner contributes (or is deemed to contribute) to the Partnership pursuant to Article III hereof. 

“Cash Settlement” means immediately available funds in U.S. dollars in an amount equal to the product of (a) the
Share Settlement and (b) the Common Unit Redemption Price. 
 “Certificate” has the meaning set forth in the
recitals to this Agreement. 
 “Change of Control Transaction” means (a) a sale of all or substantially all of
the Partnership’s assets determined on a consolidated basis, (b) a sale of a majority of the Partnership’s outstanding Units (other than (i) to the Corporation or (ii) in connection with a Redemption or Direct Exchange in
accordance with Article XI) or (c) a sale of a majority of the outstanding voting securities of any Material Subsidiary of the Partnership; in any such case, whether by merger, recapitalization, consolidation, reorganization, combination
or otherwise; provided, however, that neither (w) a transaction solely between the Partnership or any of its wholly-owned Subsidiaries, on the one hand, and the Partnership or any of its wholly-owned Subsidiaries, on the other hand, nor
(x) a transaction solely for the purpose of changing the jurisdiction of domicile of the Partnership, nor (y) a transaction solely for the purpose of changing the form of entity of the Partnership, nor (z) a sale of a majority of the
outstanding shares of Class A Common Stock, whether by merger, recapitalization, consolidation, reorganization, combination or otherwise, shall in each case of clauses (w), (x), (y) and (z) constitute a Change of Control Transaction. 

“Class A Common Stock” means the Class A Common Stock, par value $0.0001 per
share, of the Corporation. 
 “Class C Common Stock” means the Class C Common
Stock, par value $0.0001 per share, of the Corporation. 
 “Code” means the United States Internal Revenue Code of
1986, as amended. 
 “Common Stock” means all classes and series of common stock of the Corporation, including the
Class A Common Stock and the Class C Common Stock. 
 “Common Unit” means a Unit representing a fractional
part of the Limited Partner Interests of the Limited Partners and having the rights and obligations specified with respect to the Common Units in this Agreement. 

  
 4 

 “Common Unit Redemption Price” means the average of the volume-weighted
closing price for a share of Class A Common Stock on the principal U.S. securities exchange or automated or electronic quotation system on which the Class A Common Stock trades, as reported by Bloomberg, L.P., or its successor, for each of
the five (5) consecutive full Trading Days ending on and including the last full Trading Day immediately prior to the Redemption Notice Date, subject to appropriate and equitable adjustment for any stock splits, reverse splits, stock dividends
or similar events affecting the Class A Common Stock. If the Class A Common Stock no longer trades on a securities exchange or automated or electronic quotation system, then the Common Unit Redemption Price shall be the fair market value
of one share of Class A Common Stock, as determined by a majority of the Independent Directors in good faith, that would be obtained in an arms-length transaction between an informed and willing buyer and an informed and willing seller, with
neither party having any compulsion to buy or sell, and without regard to the particular circumstances of the buyer or seller. 

“Contribution Agreements” means the Alta Mesa Contribution Agreement, the Kingfisher Contribution Agreement and the
Riverstone Contribution Agreement. 
 “Contribution Closing” means the “Closing” as defined in
Section 1.1 of each of the Contribution Agreements. 
 “Corporate Board” means the Board of Directors of the
Corporation. 
 “Corporation” has the meaning set forth in the recitals to this Agreement, together with its
successors and assigns. 
 “Credit Agreement” means any senior credit facility or obligation of the Partnership or
any of its Subsidiaries, as borrower, as may be subsequently amended, restated, supplemented or otherwise modified from time to time and including any one or more refinancings or replacements thereof, in whole or in part, with any other debt
facility or debt obligation). 
 “Delaware Act” means the Delaware Revised Uniform Limited Partnership Act, 6 Del.L.
§ 17-101, et seq., as it may be amended from time to time, and any successor thereto. 

“Depletable Property” means each separate oil and gas property as defined in Code Section 614. 

“Depreciation” means, for each Taxable Year or other Fiscal Period, an amount equal to the depreciation, amortization
or other cost recovery deduction (excluding depletion) allowable for U.S. federal income tax purposes with respect to property for such Taxable Year or other Fiscal Period, except that (a) with respect to any such property the Book Value of
which differs from its adjusted tax basis for U.S. federal income tax purposes and which difference is being eliminated by use of the “remedial method” pursuant to Treasury Regulations Section 1.704-3(d), Depreciation for such Taxable
Year or other Fiscal Period shall be the amount of book basis recovered for such Taxable Year or other Fiscal Period under the rules prescribed by Treasury Regulations Section 1.704-3(d)(2), and (b) with respect to any other such property,
the Book Value of which differs from its adjusted tax basis at the beginning of such Taxable Year or other Fiscal Period, Depreciation shall be an amount which bears the same ratio to such beginning Book Value as the U.S. federal income tax
depreciation, amortization, or other cost recovery deduction for such Taxable Year or other Fiscal Period bears to such beginning adjusted tax basis; provided, however, that if the adjusted tax basis of any property at the beginning of
such Taxable Year or other Fiscal Period is zero dollars ($0.00), Depreciation with respect to such property shall be determined with reference to such beginning Book Value using any reasonable method selected by the General Partner. 

  
 5 

 “Direct Exchange” has the meaning set forth in
Section 11.03(a). 
 “Discount” has the meaning set forth in
Section 6.05. 
 “Distributable Cash” shall mean, as of any relevant date on which a
determination is being made by the General Partner regarding a potential distribution pursuant to Section 4.01(a), the amount of cash that could be distributed by the Partnership for such purposes in accordance with the
Credit Agreement (and without otherwise violating any applicable provisions of the Credit Agreement or any other debt financing of the Partnership or its Subsidiaries). 

“Distribution” (and, with a correlative meaning, “Distribute”) means each distribution made by
the Partnership to a Limited Partner with respect to such Limited Partner’s Units, whether in cash, property or securities of the Partnership and whether by liquidating distribution or otherwise; provided, however, that none of the
following shall be a Distribution: (a) any recapitalization that does not result in the distribution of cash or property to Limited Partners or any exchange of securities of the Partnership, and any subdivision (by Unit split or otherwise) or
any combination (by reverse Unit split or otherwise) of any outstanding Units, (b) any other payment made by the Partnership to a Limited Partner in redemption of all or a portion of such Limited Partner’s Units or (c) any amounts
payable pursuant to Section 6.05. 
 “Effective Time” has the meaning set forth in
Section 16.15. 
 “Equity Plan” means any stock or equity purchase plan, restricted stock
or equity plan or other similar equity compensation plan now or hereafter adopted by the Partnership or the Corporation. 

“Equity Securities” means (i) with respect to the Partnership or any of its Subsidiaries, (a) Units or other
equity interests in the Partnership or any Subsidiary of the Partnership (including other classes or groups thereof having such relative rights, powers and duties as may from time to time be established by the General Partner pursuant to the
provisions of this Agreement, including rights, powers and/or duties senior to existing classes and groups of Units and other equity interests in the Partnership or any Subsidiary of the Partnership), (b) obligations, evidences of indebtedness or
other securities or interests convertible or exchangeable into Units or other equity interests in the Partnership or any Subsidiary of the Partnership, and (c) warrants, options or other rights to purchase or otherwise acquire Units or other
equity interests in the Partnership or any Subsidiary of the Partnership and (ii) with respect to the Corporation, any and all shares, interests, participation or other equivalents (however designated) of corporate stock, including all common
stock and preferred stock, or warrants, options or other rights to acquire any of the foregoing, including any debt instrument convertible or exchangeable into any of the foregoing. 

“Event of Withdrawal” means the expulsion, bankruptcy or dissolution of a Partner or the occurrence of any other event
that terminates the continued partnership of a Partner in the Partnership. “Event of Withdrawal” shall not include an event that does not terminate the existence of such Partner under applicable state law (or, in the case of a trust that
is a Partner, does not terminate the trusteeship of the fiduciaries under such trust with respect to all the Limited Partner Interests of such trust that is a Limited Partner). 

  
 6 

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

 “Exchange Election Notice” has the meaning set forth in Section 11.03(b). 

“Fair Market Value” means, with respect to any asset, its fair market value determined according to Article XV.

 “Fiscal Period” means any interim accounting period within a Taxable Year established by the Partnership and
which is permitted or required by Section 706 of the Code. 
 “Fiscal Year” means the Partnership’s annual
accounting period established pursuant to Section 8.02. 
 “General Partner” means SRII
Opco GP, LLC, a Delaware limited liability company, and its successors and permitted assigns as general partner of the Partnership. The General Partner, in its capacity as such, has no obligation to make Capital Contributions or right to receive
Distributions under this Agreement. 
 “General Partner Change of Control” shall be deemed to have occurred if or
upon: 
  

	 	(a)	both the stockholders of the Corporation and the Corporate Board approve, in accordance with the Corporation’s certificate of incorporation and applicable law, the sale, lease or transfer, in one or a series of
related transactions, of all or substantially all of the Corporation’s assets (determined on a consolidated basis), including a sale of all of the equity interests in the Partnership, to any Person or group (as such term is used in
Section 13(d)(3) of the Exchange Act), other than to any directly or indirectly wholly owned Subsidiary of the Corporation, and such sale, lease or transfer is consummated; 

 

	 	(b)	both the stockholders of the Corporation and the Corporate Board approve, in accordance with the Corporation’s certificate of incorporation and applicable law, a merger or consolidation of the Corporation with any
other Person, other than a merger or consolidation which would result in the Voting Securities of the Corporation outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into Voting
Securities of the surviving entity) at least 50.01% of the total voting power represented by the Voting Securities of the Corporation or such surviving entity outstanding immediately after such merger or consolidation, and such merger or
consolidation is consummated; or 

  

	 	(c)	 the acquisition, directly or indirectly, by any Person or group (as such term is used in Section 13(d)(3) of
the Exchange Act) (other than (a) a trustee or other fiduciary holding securities under an employee benefit plan of the Corporation, or (b) a corporation or other entity owned, directly or indirectly, by all of the

  
 7 

	 	
stockholders of the Corporation in substantially the same proportions as their ownership of stock of the Corporation) of beneficial ownership (as defined in Rule 13d-3 under the Exchange Act) of
at least 50.01% of the aggregate voting power of the Voting Securities of the Corporation; provided, that the Corporate Board recommends or otherwise approves or determines that such acquisition is in the best interests of the
Corporation and its stockholders. 

 “General Partner Interest” means the non-economic management interest of the General Partner in the Partnership (in its capacity as a general partner without reference to any Limited Partner Interest held by it) and includes any and all rights, powers
and benefits to which the General Partner is entitled as provided in this Agreement, together with all obligations of the General Partner to comply with the terms and provisions of this Agreement. The General Partner Interest does not include any
rights to Profits or Losses or any rights to receive Distributions from operations or upon the liquidation or winding-up of the Partnership. 

“Governmental Entity” means (a) the United States of America, (b) any other sovereign nation, (c) any
state, province, district, territory or other political subdivision of (a) or (b) of this definition, including any county, municipal or other local subdivision of the foregoing, or (d) any entity exercising executive, legislative,
judicial, regulatory or administrative functions of government on behalf of (a), (b) or (c) of this definition. 

“HMH” means High Mesa Holdings, L.P., a Delaware limited partnership. 

“Indemnified Person” has the meaning set forth in Section 7.04(a). 

“Independent Directors” means the members of the Corporate Board who are “independent” under the standards
set forth in Rule 10A-3 promulgated under the Securities Act and the corresponding rules of the applicable exchange on which the Class A Common Stock is traded or quoted. 

“Initial Limited Partnership Agreement” has the meaning set forth in the recitals to this Agreement. 

“Investment Company Act” means the U.S. Investment Company Act of 1940, as amended from time to time. 

“Joinder” means a joinder to this Agreement, in form and substance substantially similar to Exhibit A to this
Agreement. 
 “Kingfisher Contributed Interests” means the Contributed Interests (as defined in the Kingfisher
Contribution Agreement). 
 “Kingfisher Contribution” has the meaning set forth in
Section 3.03(a). 
 “Kingfisher Contribution Agreement” means that certain Contribution
Agreement, dated as of August 16, 2017, by and among the Corporation, the Kingfisher Contributor, Kingfisher Midstream, LLC, a Delaware limited liability company, and, for limited purposes set forth therein, the equity holders of the Kingfisher
Contributor named therein (as may be amended or supplemented from time to time). 

  
 8 

 “Kingfisher Contributor” means KFM Holdco, LLC, a Delaware limited
liability company. 
 “Law” means all laws, statutes, ordinances, rules and regulations of any Governmental Entity,
any foreign country and each state, commonwealth, city, county, municipality, regulatory body, agency or other political subdivision thereof. 

“Limited Partner” means, as of any date of determination, (a) each of the partners named on the Schedule of
Limited Partners and (b) any Person admitted to the Partnership as a Substituted Limited Partner or Additional Limited Partner in accordance with Article XII, but in each case only so long as such Person is shown on the
Partnership’s books and records as the owner of one or more Units. 
 “Limited Partner Interest” means the
interest of a Partner in Profits, Losses and Distributions. 
 “Losses” means items of Partnership loss or deduction
determined according to Section 5.01(b). 
 “Majority Partners” means the Limited Partners
(which may include the General Partner if it is also a Limited Partner) holding a majority of the Units then outstanding; provided that, if as of any date of determination, a majority of the Units are then held by the General Partner or any
of its Affiliates controlled by the Corporation, then “Majority Partners” shall mean the General Partner together with Partners holding a majority of the Units (excluding Units held by the General Partner and its controlled Affiliates)
then outstanding. 
 “Market Price” means, with respect to a share of Class A Common Stock as of a specified
date, the last sale price per share of Class A Common Stock, regular way, or if no such sale took place on such day, the average of the closing bid and asked prices per share of Class A Common Stock, regular way, in either case as reported
in the principal consolidated transaction reporting system with respect to securities listed or admitted to trading on the Stock Exchange or, if the Class A Common Stock is not listed or admitted to trading on the Stock Exchange, as reported on
the principal consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which the Class A Common Stock is listed or admitted to trading or, if the Class A Common Stock is
not listed or admitted to trading on any national securities exchange, the last quoted price, or, if not so quoted, the average of the high bid and low asked prices in the
over-the-counter market, as reported by the National Association of Securities Dealers, Inc. Automated Quotation System or, if such system is no longer in use, the
principal other automated quotation system that may then be in use or, if the Class A Common Stock is not quoted by any such organization, the average of the closing bid and asked prices as furnished by a professional market maker making a
market in the Class A Common Stock selected by the Corporate Board or, in the event that no trading price is available for the shares of Class A Common Stock, the fair market value of a share of Class A Common Stock, as determined in
good faith by the Corporate Board. 

  
 9 

 “Material Subsidiary” means any direct or indirect Subsidiary of the
Partnership that, as of any date of determination, represents more than (a) 50% of the consolidated net tangible assets of the Partnership or (b) 50% of the consolidated net income of the Partnership before interest, taxes, depreciation and
amortization. 
 “Officer” has the meaning set forth in Section 6.01(b). 

“Optionee” means a Person to whom a stock option is granted under any Stock Option Plan. 

“Other Agreements” has the meaning set forth in Section 10.04. 

“Partner” means the General Partner or any Limited Partner. 

“Partner Minimum Gain” means “partner nonrecourse debt minimum gain” as defined in Treasury Regulations
Section
 1.704-2(i)(3). 
 “Partnership” has the meaning set forth in the preamble to this Agreement. 

“Partnership Employee” means an employee of, or other service provider to, the Partnership or any Subsidiary, in each
case acting in such capacity. 
 “Partnership Minimum Gain” means “partnership minimum gain”
determined pursuant to Treasury Regulations Section
 1.704-2(d). 
 “Partnership Representative” has the meaning
set forth in Section 9.03(b). 
 “Percentage Interest” means, with respect to a Partner at
a particular time, such Partner’s percentage interest in the Partnership determined by dividing such Partner’s Units by the total Units of all Partners at such time. The Percentage Interest of each Partner shall be calculated to the 4th decimal place, and the Percentage Interest with respect to the General Partner Interest shall at all times be zero. 

“Permitted Transfer” has the meaning set forth in Section 10.02. 

“Person” means an individual or any corporation, partnership, limited liability company, trust, unincorporated
organization, association, joint venture or any other organization or entity, whether or not a legal entity. 
 “Pro
rata,” “proportional,” “in proportion to,” and other similar terms, means, with respect to the holder of Units, pro rata based upon the number of such Units held by such holder as compared
to the total number of Units outstanding. 
 “Profits” means items of Partnership income and gain determined
according to Section 5.01(b). 

  
 10 

 “Reclassification Event” means any of the following: (i) any
reclassification or recapitalization of Common Stock (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination or any transaction subject to
Section 3.04), (ii) any merger, consolidation or other combination involving the Corporation, or (iii) any sale, conveyance, lease, or other disposal of all or substantially all the properties and assets of the
Corporation to any other Person, in each of clauses (i), (ii) or (iii), as a result of which holders of Common Stock shall be entitled to receive cash, securities or other property for their shares of Common Stock. 

“Redeemed Partner” has the meaning set forth in Section 11.01(a). 

“Redeemed Units” has the meaning set forth in Section 11.01(a). 

“Redeeming Persons” has the meaning set forth in Section 11.01(g). 

“Redemption” has the meaning set forth in Section 11.01(a). 

“Redemption Date” has the meaning set forth in Section 11.01(a). 

“Redemption Notice” has the meaning set forth in Section 11.01(a). 

“Redemption Notice Date” has the meaning set forth in Section 11.01(a). 

“Redemption Right” has the meaning set forth in Section 11.01(a). 

“Registration Rights Agreement” means that certain Registration Rights Agreement, dated as of the date hereof, by and
among the Corporation, HMH, the Kingfisher Contributor and the Riverstone Contributor (together with any joinder thereto from time to time by any successor or assign to any party to such Agreement). 

“Related Person” has the meaning set forth in Section 7.01(c). 

“Relative” means, with respect to any natural person: (a) such natural person’s spouse; (b) any lineal
descendant, parent, grandparent, great grandparent or sibling or any lineal descendant of such sibling (in each case whether by blood or legal adoption); and (c) the spouse of a natural person described in clause (b) of this definition.

 “Retraction Notice” has the meaning set forth in Section 11.01(b). 

“Revised Partnership Audit Provisions” shall mean Section 1101 of Title XI (Revenue Provisions Related to Tax
Compliance) of the Bipartisan Budget Act of 2015, H.R. 1314, Public Law Number 114-74. 
 “Riverstone Contributed
Interests” means the Contributed Interests (as defined in the Riverstone Contribution Agreement). 
 “Riverstone
Contribution” has the meaning set forth in Section 3.03(a). 
 “Riverstone Contribution
Agreement” means that certain Contribution Agreement, dated as of August 16, 2017, by and among the Corporation and the Riverstone Contributor (as may be amended or supplemented from time to time). 

  
 11 

 “Riverstone Contributor” means Riverstone VI Alta Mesa Holdings, L.P., a
Delaware limited partnership. 
 “Schedule of Limited Partners” has the meaning set forth in
Section 3.01(b). 
 “SEC” means the U.S. Securities and Exchange Commission, including any
governmental body or agency succeeding to the functions thereof. 
 “Securities Act” means the U.S. Securities Act
of 1933, as amended, and applicable rules and regulations thereunder, and any successor to such statute, rules or regulations. Any reference herein to a specific section, rule or regulation of the Securities Act shall be deemed to include any
corresponding provisions of future Law. 
 “Settlement Method Notice” has the meaning set forth in
Section 11.01(b). 
 “Share Settlement” means a number of shares of Class A Common
Stock equal to the number of Redeemed Units. 
 “Simulated Basis” means, with respect to each Depletable Property,
the Book Value of such property. For purposes of such computation, the Simulated Basis of each Depletable Property (including any additions to such Simulated Basis resulting from expenditures required to be capitalized in such Simulated Basis) shall
be allocated to each Partner in accordance with such Partner’s relative Percentage Interest as of the time such Depletable Property (or such addition to such Simulated Basis resulting from expenditures required to be capitalized in such
Simulated Basis) is acquired (or expended) by the Partnership, and shall be reallocated among the Partners in accordance with the Partners’ Percentage Interests as determined immediately following the occurrence of an event giving rise to an
adjustment to the Book Value of the Partnership’s Depletable Properties pursuant to the definition of Book Value. Upon a transfer by a Partner of any Units, a portion of the Simulated Basis allocated to such Partner shall be reallocated to the
transferee in accordance with the relative Percentage Interest transferred. 
 “Simulated Depletion” means, with
respect to each Depletable Property, a depletion allowance computed in accordance with U.S. federal income tax principles and in a manner specified in Treasury Regulations Section 1.704-1(b)(2)(iv)(k)(2). For purposes of computing Simulated
Depletion with respect to any Depletable Property, in no event shall such allowance, in the aggregate, exceed the Simulated Basis of such Depletable Property. If the Book Value of a Depletable Property is adjusted pursuant to the definition of Book
Value during a Taxable Year or other Fiscal Period, following such adjustment Simulated Depletion shall thereafter be calculated under the foregoing provisions based upon such adjusted Book Value. 

“Simulated Gain” means the excess, if any, of the amount realized from the sale or other disposition of a Depletable
Property over the Book Value of such Depletable Property and determined pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(k)(2). 

“Simulated Loss” means the excess, if any, of the Book Value of a Depletable Property over the amount realized from
the sale or other disposition of such Depletable Property and determined pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(k)(2). 

  
 12 

 “Sponsor Person” has the meaning set forth in
Section 7.04(d). 
 “Stock Exchange” means the NASDAQ Capital Market. 

“Stock Option Plan” means any stock option plan now or hereafter adopted by the Partnership or by the Corporation.

 “Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership,
association or business entity of which (a) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees
thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (b) if a limited liability company, partnership, association or other
business entity (other than a corporation), a majority of the voting interests thereof are at the time owned or controlled, directly or indirectly, by any Person or one or more Subsidiaries of that Person or a combination thereof. For purposes
hereof, references to a “Subsidiary” of the Partnership shall be given effect only at such times that the Partnership has one or more Subsidiaries, and, unless otherwise indicated, the term “Subsidiary” refers to a Subsidiary of
the Partnership. 
 “Substituted Limited Partner” means a Person that is admitted as a Limited Partner to the
Partnership pursuant to Section 12.01 with all of the rights of a Limited Partner and who is shown as a Limited Partner on the books and records of the Partnership. 

“Tax Advance” has the meaning set forth in Section 4.01(b)(ii). 

“Tax Advance Date” means any date that is two Business Days prior to the date on which estimated federal income tax
payments are required to be made by corporate taxpayers and the due date for federal income tax returns of corporate taxpayers (without regard to extensions). 

“Tax Matters Partner” has the meaning set forth in Section 9.03(a). 

“Tax Receivable Agreement” means the Tax Receivable Agreement dated as of the date hereof, by and among the
Corporation, the Riverstone Contributor, the Partnership and HMH (as may be amended or supplemented from time to time). 

“Taxable Year” means the Partnership’s accounting period for U.S. federal income tax purposes determined pursuant
to Section 9.02. 
 “Trading Day” means a day on which the Stock Exchange or such other
principal United States securities exchange on which the Class A Common Stock is listed or admitted to trading is open for the transaction of business (unless such trading shall have been suspended for the entire day). 

“Transfer” (and, with a correlative meaning, “Transferring”) means any sale, transfer,
assignment, pledge, encumbrance or other disposition of (whether directly or indirectly, whether with or without consideration and whether voluntarily or involuntarily or by operation of Law) (a) any interest (legal or beneficial) in any Equity
Securities of the Partnership or (b) any equity or other interest (legal or beneficial) in any Partner if substantially all of the assets of such Partner consist solely of Units. 

  
 13 

 “Treasury Regulations” means the regulations promulgated under the Code
and any corresponding provisions of succeeding regulations. 
 “Unit” means a Limited Partner Interest of a Limited
Partner or a permitted Assignee in the Partnership and shall include Common Units, but shall not include the General Partner Interest. 

“Unit Purchase” has the meaning set forth in Section 3.03(b). 

“Unvested Corporate Shares” means shares of Class A Common Stock issued pursuant to an Equity Plan that are not
vested pursuant to the terms thereof or any award or similar agreement relating thereto. 
 “Value” means
(a) for any Stock Option Plan, the Market Price for the trading day immediately preceding the date of exercise of a stock option under such Stock Option Plan and (b) for any Equity Plan other than a Stock Option Plan, the Market Price for
the trading day immediately preceding the Vesting Date. 
 “Vesting Date” has the meaning set forth in
Section 3.10(c). 
 “Voting Securities” means any Equity Securities of the Corporation
that are entitled to vote generally in matters submitted for a vote of the Corporation’s stockholders or generally in the election of the Corporate Board. 

“Warrants” has the meaning set forth in Section 3.03(b). 

ARTICLE II. 
 ORGANIZATIONAL
MATTERS 
 Section 2.01 Formation of Partnership. The Partnership was formed on July 18, 2017
pursuant to the provisions of the Delaware Act. 
 Section 2.02 Amended and Restated Limited Partnership
Agreement. The Partners hereby execute this Agreement for the purpose of continuing the affairs of the Partnership and the conduct of its business in accordance with the provisions of the Delaware Act. The Partners hereby agree that during the
term of the Partnership set forth in Section 2.06, the rights and obligations of the Partners with respect to the Partnership will be determined in accordance with the terms and conditions of this Agreement and the Delaware
Act. On any matter upon which this Agreement is silent, the Delaware Act shall control. No provision of this Agreement shall be in violation of the Delaware Act and, to the extent any provision of this Agreement is in violation of the Delaware Act,
such provision shall be void and of no effect to the extent of such violation without affecting the validity of the other provisions of this Agreement; provided, however, that where the Delaware Act provides that a provision of the Delaware
Act shall apply “unless otherwise provided in a limited partnership agreement” or words of similar effect, the provisions of this Agreement shall in each instance control; provided further, that notwithstanding the foregoing, Section 15-120 of the Delaware Act shall not apply or be incorporated into this Agreement. 

  
 14 

 Section 2.03 Name. The name of the Partnership shall be
“SRII Opco, LP”. The General Partner in its sole discretion may change the name of the Partnership at any time and from time to time. Notification of any such change shall be given to all of the Partners and, to the extent practicable, to
all of the holders of any Equity Securities then outstanding. The Partnership’s business may be conducted under its name and/or any other name or names deemed advisable by the General Partner. 

Section 2.04 Purpose. The primary business and purpose of the Partnership shall be to engage in such
activities as are permitted under the Delaware Act and determined from time to time by the General Partner in accordance with the terms and conditions of this Agreement. 

Section 2.05 Principal Office; Registered Office. The principal office of the Partnership shall be at 15021
Katy Freeway, Suite 400, Houston, Texas, or such other place as the General Partner may from time to time designate. The address of the registered office of the Partnership in the State of Delaware shall be 1209 Orange Street, Wilmington, County of
New Castle, DE 19801, and the registered agent for service of process on the Partnership in the State of Delaware at such registered office shall be The Corporation Trust Company. The General Partner may from time to time change the
Partnership’s registered agent and registered office in the State of Delaware. 
 Section 2.06 Term.
The term of the Partnership commenced upon the filing of the Certificate in accordance with the Delaware Act and shall continue in existence until termination and dissolution of the Partnership in accordance with the provisions of Article
XIV. 
 Section 2.07 No Joint Venture. The Partners intend that the Partnership not be a joint venture,
and that no Partner be a joint venturer of any other Partner by virtue of this Agreement, and neither this Agreement nor any other document entered into by the Partnership or any Partner relating to the subject matter hereof shall be construed to
suggest otherwise. 
 ARTICLE III. 

PARTNERS; UNITS; CAPITALIZATION 

Section 3.01 Partners. 

(a) The Corporation previously was admitted as a Limited Partner and shall remain a Limited Partner of the Partnership and the General Partner
previously was admitted as the sole general partner of the Partnership and shall remain the sole general partner of the Partnership, in each case, upon the Effective Time. At the Effective Time and concurrently with the Alta Mesa Contribution, the
Kingfisher Contribution and the Riverstone Contribution, respectively, HMH, the Kingfisher Contributor and the Riverstone Contributor shall be admitted to the Partnership as Limited Partners. 

  
 15 

 (b) The Partnership shall maintain a schedule setting forth: (i) the name and address of
each Limited Partner; (ii) the aggregate number of outstanding Units and the number and class of Units held by each Limited Partner; (iii) the aggregate amount of cash Capital Contributions that have been made by the Limited Partners with
respect to their Units; and (iv) the Fair Market Value of any property other than cash contributed by the Limited Partners with respect to their Units (including, if applicable, a description and the amount of any liability assumed by the
Partnership or to which contributed property is subject) (such schedule, the “Schedule of Limited Partners”). The applicable Schedule of Limited Partners in effect as of the Effective Time (after giving effect to the Alta
Mesa Contribution, the Kingfisher Contribution, the Riverstone Contribution and the Unit Purchase) is set forth as Schedule 1 to this Agreement. The Schedule of Limited Partners shall be the definitive record of ownership
of each Unit of the Partnership and all relevant information with respect to each Limited Partner. The Partnership shall be entitled to recognize the exclusive right of a Person registered on its records as the owner of Units for all purposes and
shall not be bound to recognize any equitable or other claim to or interest in Units on the part of any other Person, whether or not it shall have express or other notice thereof, except as otherwise provided by the Delaware Act. 

(c) No Limited Partner shall be required or, except as approved by the General Partner pursuant to Section 6.01 and
in accordance with the other provisions of this Agreement, permitted to loan any money or property to the Partnership or borrow any money or property from the Partnership. 

Section 3.02 Units. Interests in the Partnership shall be represented by Units, or such other securities of
the Partnership, in each case as the General Partner may establish in its discretion in accordance with the terms and subject to the restrictions hereof. Immediately after the Effective Time, the Units will be comprised of a single class of Common
Units. Without limiting the foregoing, to the extent required pursuant to Section 3.04(a), the General Partner may create one or more classes or series of Common Units or preferred Units solely to the extent they are in the
aggregate substantially equivalent to a class of common stock of the Corporation or class or series of preferred stock of the Corporation. 

Section 3.03 New Limited Partner Contributions; Warrants; the Corporation’s Capital
Contribution; the Corporation’s Purchase of Common Units. 
 (a) New Limited Partner Contributions.
Pursuant to the Contribution Agreements, at the Contribution Closing, (i) HMH contributed to the Partnership the Alta Mesa Contributed Interests and received in exchange therefor a cash distribution from the Partnership and was issued the
number of Common Units set forth next to HMH’s name on Schedule 1, which are hereby issued and outstanding as of the Effective Time (the “Alta Mesa Contribution”), (ii) the Kingfisher Contributor contributed to
the Partnership the Kingfisher Contributed Interests and received in exchange therefor a cash distribution from the Partnership and was issued the number of Common Units set forth next to the Kingfisher Contributor’s name on Schedule 1,
which are hereby issued and outstanding as of the Effective Time (the “Kingfisher Contribution”), and (iii) the Riverstone Contributor contributed to the Partnership the Riverstone Contributed Interests and was issued
the number of Common Units set forth next to the Riverstone Contributor’s name on Schedule 1, which are hereby issued and outstanding as of the Effective Time (the “Riverstone Contribution”). 

  
 16 

 (b) The Corporation’s Unit Purchase. Pursuant to the Contribution
Agreements, at the Contribution Closing and prior to giving effect to Section 3.04, the Corporation contributed to the Partnership cash in the aggregate amount of $1,406,484,518 in exchange for (i) 169,371,730 Common Units
and (ii) warrants (the “Warrants”) exercisable for a number of Common Units equal to the number of shares of Class A Common Stock underlying the warrants of the Corporation outstanding immediately prior to such
issuance of Warrants pursuant to this Section 3.03(b) (collectively, the “Unit Purchase”). For the avoidance of doubt, each Warrant shall be treated as a “noncompensatory option” within the
meaning of Treasury Regulations Sections 1.721-2(f) and 1.761-3(b)(2) and not be treated as a partnership interest pursuant to Treasury Regulations Section 1.761-3(a). 
 Section 3.04 Authorization and Issuance of
Additional Units. 
 (a) If at any time the Corporation issues a share of its Class A Common Stock or any other Equity Security of
the Corporation, (i) the Partnership shall issue to the Corporation one Common Unit (if the Corporation issues a share of Class A Common Stock), or such other Equity Security of the Partnership (if the Corporation issues Equity Securities
other than Class A Common Stock) corresponding to the Equity Securities issued by the Corporation, and with substantially the same rights to dividends and distributions (including distributions upon liquidation) and other economic rights as
those of such Equity Securities of the Corporation and (ii) the net proceeds received by the Corporation with respect to the corresponding share of Class A Common Stock or other Equity Security, if any, shall be concurrently contributed by
the Corporation to the Partnership as a Capital Contribution; provided, that if the Corporation issues any shares of Class A Common Stock in order to directly purchase from another Limited Partner (other than the Corporation) a number of
Common Units pursuant to Section 11.03(a) (and a corresponding number of shares of Class C Common Stock), then the Partnership shall not issue any new Common Units in connection therewith and the Corporation shall not
be required to transfer such net proceeds to the Partnership (it being understood that such net proceeds shall instead be transferred to such other Limited Partner as consideration for such purchase). Notwithstanding the foregoing, this
Section 3.04(a) shall not apply to (i) (A) the issuance and distribution to holders of shares of Class A Common Stock of rights to purchase Equity Securities of the Corporation under a “poison pill” or
similar shareholders rights plan or (B) the issuance under the Corporation’s Equity Plans or Stock Option Plans of any warrants, options, other rights to acquire Equity Securities of the Corporation or rights or property that may be
converted into or settled in Equity Securities of the Corporation, but shall in each of the foregoing cases apply to the issuance of Equity Securities of the Corporation in connection with the exercise or settlement of such rights, warrants, options
or other rights or property or (ii) the issuance of Equity Securities pursuant to any Equity Plan (other than a Stock Option Plan) that are restricted, subject to forfeiture or otherwise unvested upon issuance, but shall apply on the applicable
Vesting Date with respect to such Equity Securities. Except pursuant to Article XI, (x) the Partnership may not issue any additional Common Units to the Corporation or any of its Subsidiaries unless substantially simultaneously the
Corporation or such Subsidiary issues or sells an equal number of shares of the Corporation’s Class A Common Stock to another Person, and (y) the Partnership may not issue any other Equity Securities of the Partnership to the
Corporation or any of its Subsidiaries (other than the issuance of Warrants pursuant to Section 3.03(b)) unless substantially simultaneously the Corporation or such Subsidiary issues or sells, to another Person, an equal
number of shares of a new class or series of Equity Securities of the Corporation or such Subsidiary with substantially the same rights to dividends and distributions (including distributions upon liquidation) and other economic rights as those of
such Equity Securities of the Partnership. 

  
 17 

 (b) The Partnership shall only be permitted to issue additional Units or other Equity Securities
in the Partnership to the Persons and on the terms and conditions provided for in Section 3.02, this Section 3.04 and Section 3.11. 

(c) The Partnership shall not in any manner effect any subdivision (by equity split, equity distribution, reclassification, recapitalization or
otherwise) or combination (by reverse equity split, reclassification, recapitalization or otherwise) of the outstanding Common Units unless accompanied by an identical subdivision or combination, as applicable, of the outstanding Common Stock, with
corresponding changes made with respect to any other exchangeable or convertible securities. The Corporation shall not in any manner effect any subdivision (by stock split, stock dividend, reclassification, recapitalization or otherwise) or
combination (by reverse stock split, reclassification, recapitalization or otherwise) of the outstanding Common Stock unless accompanied by an identical subdivision or combination, as applicable, of the outstanding Common Units, with corresponding
changes made with respect to any other exchangeable or convertible securities. The Partnership shall not in any manner effect any subdivision (by equity split, equity distribution, reclassification, recapitalization or otherwise) or combination (by
reverse equity split, reclassification, recapitalization or otherwise) of any outstanding Equity Securities of the Partnership (other than the Common Units) unless accompanied by an identical subdivision or combination, as applicable, of the
corresponding Equity Securities of the Corporation, with corresponding changes made with respect to any other exchangeable or convertible securities. The Corporation shall not in any manner effect any subdivision (by stock split, stock dividend,
reclassification, recapitalization or otherwise) or combination (by reverse stock split, reclassification, recapitalization or otherwise) of any outstanding Equity Securities of the Corporation (other than the Common Stock) unless accompanied by an
identical subdivision or combination, as applicable, of the corresponding Equity Securities of the Partnership, with corresponding changes made with respect to any other exchangeable or convertible securities. 

Section 3.05 Repurchases or Redemptions. The Corporation or any of its Subsidiaries may not redeem,
repurchase or otherwise acquire (i) any shares of Class A Common Stock unless substantially simultaneously the Partnership redeems, repurchases or otherwise acquires from the Corporation an equal number of Common Units for the same price
per security or (ii) any other Equity Securities of the Corporation unless substantially simultaneously the Partnership redeems, repurchases or otherwise acquires from the Corporation an equal number of Equity Securities of the Partnership of a
corresponding class or series with substantially the same rights to dividends and distributions (including distributions upon liquidation) and other economic rights as those of such Equity Securities of the Corporation for the same price per
security. The Partnership may not redeem, repurchase or otherwise acquire (A) any Common Units from the Corporation or any of its Subsidiaries unless substantially simultaneously the Corporation or such Subsidiary redeems, repurchases or
otherwise acquires an equal number of shares of Class A Common Stock for the same price per security from holders thereof, or (B) any other Equity Securities of the Partnership from the Corporation or any of its Subsidiaries unless
substantially simultaneously the Corporation or such Subsidiary redeems, repurchases or otherwise acquires for the same price per security an equal number of Equity Securities of the Corporation of a corresponding class or series with substantially
the same rights to dividends and 

  
 18 

 
distributions (including distribution upon liquidation) and other economic rights as those of such Equity Securities of the Corporation. Notwithstanding the foregoing, to the extent that any
consideration payable by the Corporation in connection with the redemption or repurchase of any shares of Class A Common Stock or other Equity Securities of the Corporation or any of its Subsidiaries consists (in whole or in part) of shares of
Class A Common Stock or such other Equity Securities (including, for the avoidance of doubt, in connection with the cashless exercise of an option or warrant), then the redemption or repurchase of the corresponding Common Units or other Equity
Securities of the Partnership shall be effectuated in an equivalent manner. 
 Section 3.06 Certificates
Representing Units; Lost, Stolen or Destroyed Certificates; Registration and Transfer of Units. 
 (a) Units shall not be certificated
unless otherwise determined by the General Partner. If the General Partner determines that one or more Units shall be certificated, each such certificate shall be signed by or in the name of the Partnership, by the Chief Executive Officer and any
other officer designated by the General Partner, representing the number of Units held by such holder. Such certificate shall be in such form (and shall contain such legends) as the General Partner may determine. Any or all of such signatures on any
certificate representing one or more Units may be a facsimile, engraved or printed, to the extent permitted by applicable Law. The General Partner agrees that it shall not elect to treat any Unit as a “security” within the meaning of
Article 8 of the Uniform Commercial Code unless thereafter all Units then outstanding are represented by one or more certificates. 
 (b) If
Units are certificated, the General Partner may direct that a new certificate representing one or more Units be issued in place of any certificate theretofore issued by the Partnership alleged to have been lost, stolen or destroyed, upon delivery to
the General Partner of an affidavit of the owner or owners of such certificate, setting forth such allegation. The General Partner may require the owner of such lost, stolen or destroyed certificate, or such owner’s legal representative, to
give the Partnership a bond sufficient to indemnify it against any claim that may be made against it on account of the alleged loss, theft or destruction of any such certificate or the issuance of any such new certificate. 

(c) Upon surrender to the Partnership or the transfer agent of the Partnership, if any, of a certificate for one or more Units, duly endorsed
or accompanied by appropriate evidence of succession, assignment or authority to transfer, in compliance with the provisions hereof, the Partnership shall issue a new certificate representing one or more Units to the Person entitled thereto, cancel
the old certificate and record the transaction upon its books. Subject to the provisions of this Agreement, the General Partner may prescribe such additional rules and regulations as it may deem appropriate relating to the issue, Transfer and
registration of Units. 
 Section 3.07 Negative Capital Accounts. No Partner shall be required to pay to
any other Partner or the Partnership any deficit or negative balance which may exist from time to time in such Partner’s Capital Account (including upon and after dissolution of the Partnership). 

Section 3.08 No Withdrawal. No Person shall be entitled to withdraw any part of such Person’s Capital
Contribution or Capital Account or to receive any Distribution from the Partnership, except as expressly provided in this Agreement. 

  
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 Section 3.09 Loans From Partners. Loans by Partners to
the Partnership shall not be considered Capital Contributions. Subject to the provisions of Section 3.01(c), the amount of any such advances shall be a debt of the Partnership to such Partner and shall be payable or
collectible in accordance with the terms and conditions upon which such advances are made. 
 Section 3.10 Tax
Treatment of Corporate Stock Option Plans and Equity Plans. 
 (a) Options Granted to Persons other than Partnership Employees. If
at any time or from time to time, in connection with any Stock Option Plan, a stock option granted over shares of Class A Common Stock to a Person other than a Partnership Employee is duly exercised, notwithstanding the amount of the Capital
Contribution actually made pursuant to Section 3.04(a), solely for U.S. federal (and applicable state and local) income tax purposes, the Corporation shall be deemed to have contributed to the Partnership as a Capital
Contribution, in lieu of the Capital Contribution actually made and in consideration of additional Common Units, an amount equal to the Value of a share of Class A Common Stock as of the date of such exercise multiplied by the number of shares
of Class A Common Stock then being issued by the Corporation in connection with the exercise of such stock option. 
 (b) Options
Granted to Partnership Employees. If at any time or from time to time, in connection with any Stock Option Plan, a stock option granted over shares of Class A Common Stock to a Partnership Employee is duly exercised, solely for U.S. federal
(and applicable state and local) income tax purposes, the following transactions shall be deemed to have occurred: 
 (i) The
Corporation shall sell to the Optionee, and the Optionee shall purchase from the Corporation, the number of shares of Class A Common Stock equal to the number of shares of Class A Common Stock as to which such stock option is being
exercised multiplied by the following: (x) the exercise price payable by the Optionee in connection with the exercise of such stock option divided by (y) the Value of a share of Class A Common Stock at the time of such exercise. 

(ii) The Corporation shall sell to the Partnership (or, if the Optionee is an employee of, or other service provider to, a
Subsidiary, the Corporation shall sell to such Subsidiary), and the Partnership (or such Subsidiary, as applicable) shall purchase from the Corporation, a number of shares of Class A Common Stock equal to the excess of (x) the number of
shares of Class A Common Stock as to which such stock option is being exercised over (y) the number of shares of Class A Common Stock sold pursuant to Section 3.10(b)(i) hereof. The purchase price per share
of Class A Common Stock for such sale of shares of Class A Common Stock to the Partnership (or such Subsidiary) shall be the Value of a share of Class A Common Stock as of the date of exercise of such stock option. 

(iii) The Partnership shall transfer to the Optionee (or, if the Optionee is an employee of, or other service provider to, a
Subsidiary, the Subsidiary shall transfer to the Optionee) at no additional cost to such Partnership Employee and as additional compensation to such Partnership Employee, the number of shares of Class A Common Stock described in
Section 3.10(b)(ii). 

  
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 (iv) The Corporation shall be deemed to have contributed any amounts received by
the Corporation pursuant to Section 3.10(b)(i) and any amount deemed to be received by the Partnership pursuant to Section 3.10(b)(ii) in connection with the exercise of such stock option. 

The transactions described in this Section 3.10(b) are intended to comply with the provisions of Treasury Regulations
Section 1.1032-3 and shall be interpreted consistently therewith. 
 (c) Restricted Stock Granted to Partnership Employees. If at
any time or from time to time, in connection with any Equity Plan (other than a Stock Option Plan), any shares of Class A Common Stock are issued to a Partnership Employee (including any shares of Class A Common Stock that are subject to
forfeiture in the event such Partnership Employee terminates his or her employment with the Partnership or any Subsidiary) in consideration for services performed for the Partnership or any Subsidiary, on the date (such date, the “Vesting
Date”) that the Value of such shares is includible in taxable income of such Partnership Employee, the following events will be deemed to have occurred solely for U.S. federal (and applicable state and local) income tax purposes:
(a) the Corporation shall be deemed to have sold such shares of Class A Common Stock to the Partnership (or, if such Partnership Employee is an employee of, or other service provider to, a Subsidiary, to such Subsidiary) for a purchase
price equal to the Value of such shares of Class A Common Stock, (b) the Partnership (or such Subsidiary) shall be deemed to have delivered such shares of Class A Common Stock to such Partnership Employee, (c) the Corporation
shall be deemed to have contributed the purchase price for such shares of Class A Common Stock to the Partnership as a Capital Contribution, and (d) in the case where such Partnership Employee is an employee of a Subsidiary, the
Partnership shall be deemed to have contributed such amount to the capital of the Subsidiary. 
 (d) Future Stock Incentive Plans.
Nothing in this Agreement shall be construed or applied to preclude or restrain the Corporation from adopting, modifying or terminating stock incentive plans for the benefit of employees, directors or other business associates of the Corporation,
the Partnership or any of their respective Affiliates. The Partners acknowledge and agree that, in the event that any such plan is adopted, modified or terminated by the Corporation, amendments to this Section 3.10 may
become necessary or advisable and that any approval or consent to any such amendments requested by the Corporation shall be deemed granted by the General Partner without the requirement of any further consent or acknowledgement of any other Partner.

 (e) Anti-dilution adjustments. For all purposes of this Section 3.10, the number of shares of
Class A Common Stock and the corresponding number of Common Units shall be determined after giving effect to all anti-dilution or similar adjustments that are applicable, as of the date of exercise or vesting, to the option, warrant, restricted
stock or other equity interest that is being exercised or becomes vested under the applicable Stock Option Plan or other Equity Plan and applicable award or grant documentation. 

Section 3.11 Dividend Reinvestment Plan, Cash Option Purchase Plan, Stock Incentive Plan or Other Plan.
Except as may otherwise be provided in this Article III, all amounts received or deemed received by the Corporation in respect of any dividend reinvestment plan, cash option purchase plan, stock incentive or other stock or subscription plan
or agreement, either (a) shall be 

  
 21 

 
utilized by the Corporation to effect open market purchases of shares of Class A Common Stock, or (b) if the Corporation elects instead to issue new shares of Class A Common Stock
with respect to such amounts, shall be contributed by the Corporation to the Partnership in exchange for additional Units. Upon such contribution, the Partnership will issue to the Corporation a number of Units equal to the number of new shares of
Class A Common Stock so issued. 
 ARTICLE IV. 

DISTRIBUTIONS 

Section 4.01 Distributions. 

(a) Distributable Cash; Other Distributions. To the extent permitted by applicable Law and hereunder, Distributions to Limited Partners
may be declared by the General Partner out of Distributable Cash or other funds or property legally available therefor in such amounts and on such terms (including the payment dates of such Distributions) as the General Partner shall determine using
such record date as the General Partner may designate; such Distributions (except, for the avoidance of doubt, for the Distributions described in Section 3.03(a) pursuant to the Contribution Agreements) shall be made to the
Limited Partners as of the close of business on such record date on a pro rata basis in accordance with each Limited Partner’s Percentage Interest as of the close of business on such record date; provided, however, that the General
Partner shall have the obligation to make Distributions as set forth in Section 4.01(b) and Section 14.02; and provided further that, notwithstanding any other provision herein to the contrary, no Distributions
shall be made to any Limited Partner to the extent such Distribution would violate Section 15-309 of the Delaware Act. Promptly following the designation of a record date and the declaration of a
Distribution pursuant to this Section 4.01(a), the General Partner shall give notice to each Limited Partner of the record date, the amount and the terms of the Distribution and the payment date thereof. In furtherance of
the foregoing, it is intended that the General Partner shall, to the extent permitted by applicable Law and hereunder, have the right in its sole discretion to make Distributions to the Limited Partners pursuant to this
Section 4.01(a) in such amounts as shall enable the Corporation to pay dividends or to meet its obligations (to the extent such obligations are not otherwise able to be satisfied as a result of the Distributions required to
be made pursuant to Section 4.01(b) or reimbursements required to be made pursuant to Section 6.05). 
 (b)
Tax Distributions. With respect to any tax period (or the portion thereof) ending after the date hereof: 
 (i) The
Partnership shall make distributions to all Limited Partners pro rata, in accordance with each Limited Partner’s Percentage Interest, on a quarterly basis and in such amounts as necessary to enable the Corporation to timely (x) satisfy all
of its U.S. federal, state and local and non-U.S. tax liabilities, and (y) meet its obligations pursuant to the Tax Receivable Agreement. 

(ii) If a Partner (other than the Corporation) has an Assumed Tax Liability at a Tax Advance Date in excess of the sum of the
cumulative amount of distributions under Section 4.01(b)(i), Section 4.01(a) and any Tax Advances (as defined below) made to such Partner through such date, the Partnership shall, to the extent
permitted by 

  
 22 

 
applicable Law, and subject to the availability of funds and any restrictions contained in any agreement to which the Partnership or any of its Subsidiaries is bound, make advances to such
Partner in an amount equal to such excess (a “Tax Advance”). Any such Tax Advance shall be treated as an advance against and, thus, shall reduce (without duplication), any future distributions that would otherwise be made to
such Partner pursuant to Sections 4.01(a) and 14.02(d). If there is a Tax Advance outstanding with respect to a Partner who (i) elects to participate in a Redemption (including, for the avoidance of doubt, any Direct Exchange at
the option of the Corporation pursuant to Section 11.03), or (ii) Transfers Units pursuant to the provisions of Article X, then in each case such Partner shall indemnify and hold harmless the Partnership against
such Tax Advance, and shall be required to promptly pay to the Partnership (but in all events within fifteen (15) days after the Redemption Date or Transfer Date, as the case may be) an amount of cash equal to the proportionate share of such
Tax Advance relating to its Common Units subject to the Redemption or Transfer (determined at the time of the Redemption or Transfer based on the number of Common Units subject to the Redemption or Transfer as compared to the total number of Common
Units held by such Partner), provided that, in the case of a Transfer described in clause (ii), such Partner shall not be required to pay such amount of cash equal to the proportionate share of such Tax Advance relating to its Common Units
subject to the Transfer, if the transferee agrees to assume the Partner’s obligation to repay to the Partnership such amount equal to the proportionate share of the Partner’s existing Tax Advance relating to such Common Units subject to
the Transfer, and such Partner shall be relieved from any liabilities associated with and the obligation to repay its existing Tax Advance relating to such Common Units subject to the Transfer. The obligations of each Partner pursuant to the
preceding sentence shall survive the withdrawal of any Partner or the transfer of any Partner’s Units in the Partnership and shall apply to any current or former Partner. For the avoidance of doubt, any repayment of a Tax Advance pursuant to
the previous sentence shall not be treated as a Capital Contribution. 
 Section 4.02 Restricted
Distributions. Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make any Distribution to any Partner on account of any Limited Partner Interest if such Distribution would violate any applicable
Law or the terms of the Credit Agreement or other debt financing of the Partnership or its Subsidiaries. 
 ARTICLE V. 

CAPITAL ACCOUNTS; ALLOCATIONS; TAX MATTERS 

Section 5.01 Capital Accounts. 

(a) The Partnership shall maintain a separate Capital Account for each Partner according to the rules of Treasury Regulations
Section 1.704-1(b)(2)(iv). For this purpose, the Partnership may (in the discretion of the General Partner), upon the occurrence of the events specified in Treasury Regulations Section 1.704-1(b)(2)(iv)(f), increase or decrease the Capital
Accounts in accordance with the rules of such Treasury Regulations and Treasury Regulations Section 1.704-1(b)(2)(iv)(g) to reflect a revaluation of Partnership property. The Capital Account balance of each of the Partners as of the date
hereof, as adjusted in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(f), is its respective “Contribution Closing Capital Account Balance” set forth on the Schedule of Limited Partners. 

  
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 (b) For purposes of computing the amount of any item of Partnership income, gain, loss or
deduction to be allocated pursuant to this Article V and to be reflected in the Capital Accounts of the Partners, the determination, recognition and classification of any such item shall be the same as its determination, recognition and
classification for U.S. federal income tax purposes (including any method of depreciation, cost recovery or amortization used for this purpose); provided, however, that: 

(i) The computation of all items of income, gain, loss and deduction shall include those items described in Code
Section 705(a)(l)(B) or Code Section 705(a)(2)(B) and Treasury Regulations Section 1.704-1(b)(2)(iv)(i), without regard to the fact that such items are not includable in gross income or are not deductible for U.S. federal income tax
purposes. 
 (ii) If the Book Value of any Partnership property is adjusted pursuant to Treasury Regulations
Section 1.704-1(b)(2)(iv)(e) or (f), the amount of such adjustment shall be taken into account as gain or loss from the disposition of such property. 

(iii) Items of income, gain, loss or deduction attributable to the disposition of Partnership property having a Book Value that
differs from its adjusted basis for tax purposes shall be computed by reference to the Book Value of such property. 
 (iv)
In lieu of the depreciation, amortization and other cost recovery deductions taken into account in computing Profits or Losses (excluding depletion with respect to a Depletable Property), there shall be taken into account Depreciation for such
Taxable Year or other Fiscal Period. 
 (v) To the extent an adjustment to the adjusted tax basis of any Partnership asset
pursuant to Code Sections 732(d), 734(b) or 743(b) is required, pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m), to be taken into account in determining Capital Accounts, the amount of such adjustment to the Capital Accounts shall
be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis). 

(vi) Simulated Gains with respect to Depletable Properties shall be taken into account in computing Profits and Losses in lieu
of actual gains on such Depletable Properties. 
 (vii) Items specifically allocated under
Section 5.03 shall be excluded from the computation of Profits and Losses. 

Section 5.02 Allocations. After giving effect to the allocations under
Section 5.03, and subject to Section 5.04, Profits and Losses (or items thereof) for any Taxable Year or other Fiscal Period shall be allocated among the Capital Accounts of the Partners pro rata
in such a manner that, after adjusting for all Capital Contributions and distributions through the end of such Taxable Year or other Fiscal Period, the Capital Account balance of each Partner, immediately 

  
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after making such allocation, is as nearly as possible equal to (a) the amount such Partner would receive pursuant to Section 14.02(d) if all of the assets of the
Partnership on hand at the end of such Taxable Year or other Fiscal Period were sold for cash equal to their Book Values, all liabilities of the Partnership were satisfied in cash in accordance with their terms (limited with respect to each
nonrecourse liability to the Book Value of the assets securing such liability), and all remaining or resulting cash were distributed, in accordance with Section 14.02(d), to the Partners, minus (b) such
Partner’s share of the Partnership Minimum Gain and Partner Minimum Gain, computed immediately prior to the hypothetical sale of assets, and the amount any such Partner is treated as obligated to contribute to the Partnership, computed
immediately after the hypothetical sale of assets. Notwithstanding any contrary provision in this Agreement, the General Partner shall make appropriate adjustments to allocations of Profits and Losses to (or, if necessary, allocate items of gross
income, gain, loss or deduction of the Partnership among) the Partners such that, to the maximum extent possible, the Capital Accounts of the Partners are proportionate to their Percentage Interests. In each case, such adjustments or allocations
shall occur, to the maximum extent possible, in the Taxable Year or other Fiscal Period of the event requiring such adjustments or allocations. 

Section 5.03 Regulatory and Special Allocations. 

(a) Partner nonrecourse deductions (as defined in Treasury Regulations Section 1.704-2(i)(2))
attributable to partner nonrecourse debt (as defined in Treasury Regulations Section 1.704-2(b)(4)) shall be allocated in the manner required by Treasury Regulations Section 1.704-2(i). If there is a net decrease during a Taxable Year in
Partner Minimum Gain, Profits for such Taxable Year (and, if necessary, for subsequent Taxable Years) shall be allocated to the Partners in the amounts and of such character as determined according to Treasury Regulations Section 1.704-2(i)(4).

 (b) Nonrecourse deductions (as determined according to Treasury Regulations Section 1.704-2(b)(1)) for any Taxable Year shall be
allocated pro rata among the Partners in accordance with their Percentage Interests. Except as otherwise provided in Section 5.03(a), if there is a net decrease in the Partnership Minimum Gain during any Taxable Year, each
Partner shall be allocated Profits for such Taxable Year (and, if necessary, for subsequent Taxable Years) in the amounts and of such character as determined according to Treasury Regulations Section 1.704-2(f). This
Section 5.03(b) is intended to be a minimum gain chargeback provision that complies with the requirements of Treasury Regulations Section 1.704-2(f), and shall be interpreted in a manner consistent therewith. 

(c) If any Partner that unexpectedly receives an adjustment, allocation or Distribution described in Treasury Regulations
Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6) has an Adjusted Capital Account Deficit as of the end of any Taxable Year, computed after the application of Sections 5.03(a) and 5.03(b) but before the application of any
other provision of this Article V, then Profits for such Taxable Year shall be allocated to such Partner in proportion to, and to the extent of, such Adjusted Capital Account Deficit. This Section 5.03(c) is intended
to be a qualified income offset provision as described in Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted in a manner consistent therewith. 

  
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 (d) If the allocation of Losses to a Partner as provided in
Section 5.02 would create or increase an Adjusted Capital Account Deficit, there shall be allocated to such Partner only that amount of Losses as will not create or increase an Adjusted Capital Account Deficit. The Losses
that would, absent the application of the preceding sentence, otherwise be allocated to such Partner shall be allocated to the other Partners in accordance with their relative Percentage Interests, subject to this
Section 5.03(d). 
 (e) Profits and Losses described in Section 5.01(b)(v) shall be
allocated in a manner consistent with the manner that the adjustments to the Capital Accounts are required to be made pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(j) and (m). 

(f) Simulated Depletion for each Depletable Property and Simulated Loss upon the disposition of a Depletable Property shall be allocated among
the Partners in proportion to their shares of the Simulated Basis in such property. 
 (g) The allocations set forth in
Section 5.03(a) through and including Section 5.03(d) (the “Regulatory Allocations”) are intended to comply with certain requirements of Sections 1.704-1(b) and 1.704-2 of
the Treasury Regulations. The Regulatory Allocations may not be consistent with the manner in which the Partners intend to allocate Profit and Loss of the Partnership or make Distributions. Accordingly, notwithstanding the other provisions of this
Article V, but subject to the Regulatory Allocations, income, gain, deduction and loss shall be reallocated among the Partners so as to eliminate the effect of the Regulatory Allocations and thereby cause the respective Capital Accounts of
the Partners to be in the amounts (or as close thereto as possible) they would have been if Profit and Loss (and such other items of income, gain, deduction and loss) had been allocated without reference to the Regulatory Allocations. In general,
the Partners anticipate that this will be accomplished by specially allocating other Profit and Loss (and such other items of income, gain, deduction and loss) among the Partners so that the net amount of the Regulatory Allocations and such special
allocations to each such Partner is zero. In addition, if in any Taxable Year or other Fiscal Period there is a decrease in Partnership Minimum Gain, or in Partner Minimum Gain, and application of the minimum gain chargeback requirements set forth
in Section 5.03(a) or Section 5.03(b) would cause a distortion in the economic arrangement among the Partners, the Partners may, if they do not expect that the Partnership will have sufficient
other income to correct such distortion, request the Internal Revenue Service to waive either or both of such minimum gain chargeback requirements. If such request is granted, this Agreement shall be applied in such instance as if it did not contain
such minimum gain chargeback requirement. 
 Section 5.04 Tax Allocations. 

(a) The income, gains, losses, deductions and credits of the Partnership will be allocated, for U.S. federal (and applicable state and local)
income tax purposes, among the Partners in accordance with the allocation of such income, gains, losses, deductions and credits among the Partners for computing their Capital Accounts; provided, that if any such allocation is not permitted by
the Code or other applicable Law, the Partnership’s subsequent income, gains, losses, deductions and credits will be allocated among the Partners so as to reflect as nearly as possible the allocation set forth herein in computing their Capital
Accounts. 

  
 26 

 (b) Cost and percentage depletion deductions with respect to each Depletable Property shall be
computed separately by the Partners rather than the Partnership. For purposes of such computations, the U.S. federal income tax basis of each Depletable Property shall be allocated to each Partner in accordance with such Partner’s Percentage
Interest as of the time such Depletable Property is acquired by the Partnership, and shall be reallocated among the Partners in accordance with such Partner’s Percentage Interest as determined immediately following the occurrence of an event
giving rise to an adjustment to the Book Values of the Partnership’s Depletable Properties pursuant to the definition of Book Value (or at the time of any material additions to the U.S. federal income tax basis of such Depletable Property).
Such allocations are intended to be applied in accordance with the “partners’ interests in partnership capital” under Section 613A(c)(7)(D) of the Code; provided that the Partners understand and agree that the General
Partner may authorize special allocations of tax basis, income, gain, deduction or loss, as computed for U.S. federal income tax purposes, in order to eliminate differences between Simulated Basis and adjusted U.S. federal income tax basis with
respect to Depletable Properties, in such manner as determined consistent with the principles of Section 704(c) of the Code, the Treasury Regulations thereunder and the portions of the Treasury Regulations under Section 704(b) that apply
the principles of Section 704(c), using the “traditional method”, as described in Treasury Regulations Section 1.704-3(b). 

(c) For purposes of the separate computation of gain or loss by each Partner on a taxable Disposition of Depletable Property, the amount
realized from such Disposition shall be allocated (i) first, to the Partners in an amount equal to the Simulated Basis in such Depletable Property and in the same proportion as their shares thereof were allocated and (ii) second, any
remaining amount realized shall be allocated consistent with the allocation of Simulated Gains; provided, however, that the Partners understand and agree that the General Partner may authorize special allocations of tax basis, income,
gain, deduction or loss, as computed for U.S. federal income tax purposes, in order to eliminate differences between Simulated Basis and adjusted U.S. federal income tax basis with respect to Depletable Properties, in such manner as determined
consistent with the principles of Section 704(c) of the Code, the Treasury Regulations thereunder and the portions of the Treasury Regulations under Section 704(b) that apply the principles of Section 704(c), using the
“traditional method”, as described in Treasury Regulations Section 1.704-3(b). The provisions of this Section 5.04(c) and the other provisions of this Agreement
relating to allocations under Section 613A(c)(7)(D) of the Code are intended to comply with Treasury Regulations Section 1.704-1(b)(4)(v) and shall be interpreted and applied in a manner consistent with such Treasury Regulations. 

(d) Each Partner shall, in a manner consistent with this Article V, separately keep records of its share of the adjusted tax basis in
each Depletable Property, adjust such share of the adjusted tax basis for any cost or percentage depletion allowable with respect to such property and use such adjusted tax basis in the computation of its cost depletion or in the computation of its
gain or loss on the disposition of such property by the Partnership. Upon the request of the Partnership, each Partner may advise the Partnership of its adjusted tax basis in each Depletable Property and any depletion computed with respect thereto,
both as computed in accordance with the provisions of this subsection. The Partnership may rely on such information and, if it is not provided by the Partner, may make such reasonable assumptions as it shall determine with respect thereto. 

  
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 (e) Items of Partnership taxable income, gain, loss and deduction with respect to any property
contributed to the capital of the Partnership shall be allocated among the Partners in accordance with Code Section 704(c) so as to take account of any variation between the adjusted basis of such property to the Partnership for U.S. federal
income tax purposes and its Book Value using the “traditional method”, as described in Treasury Regulations Section 1.704-3(b). 

(f) If the Book Value of any Partnership asset is adjusted pursuant to Section 5.01(b), subsequent allocations of
items of taxable income, gain, loss and deduction with respect to such asset shall take account of any variation between the adjusted basis of such asset for U.S. federal income tax purposes and its Book Value in the same manner as under Code
Section 704(c) using the “traditional method”, as described in Treasury Regulations Section 1.704-3(b). 
 (g) If, as a
result of an exercise of a noncompensatory option (including the Warrants) to acquire an interest in the Partnership, a Capital Account reallocation is required under Treasury Regulations Section 1.704-1(b)(2)(iv)(s)(3), the Partnership
shall make corrective allocations pursuant to Treasury Regulations Section 1.704-1(b)(4)(x). 
 (h) Allocations of tax credits, tax
credit recapture, and any items related thereto shall be allocated to the Partners pro rata as determined by the General Partner taking into account the principles of Treasury Regulations Section 1.704-1(b)(4)(ii). 

(i) For purposes of determining a Partner’s pro rata share of the Partnership’s “excess nonrecourse liabilities” within the
meaning of Treasury Regulations Section 1.752-3(a)(3), each Partner’s interest in income and gain shall be in proportion to its Percentage Interests. 

(j) Allocations pursuant to this Section 5.04 are solely for purposes of U.S. federal (and applicable state and
local) income taxes and shall not affect, or in any way be taken into account in computing, any Partner’s Capital Account or share of Profits, Losses, Distributions or other Partnership items pursuant to any provision of this Agreement. 

Section 5.05 Withholding; Indemnification and Reimbursement for Payments on Behalf of a Partner. The
Partnership and its Subsidiaries may withhold from distributions, allocations or portions thereof if it is required to do so by any applicable Law, and each Partner hereby authorizes the Partnership and its Subsidiaries to withhold or pay on behalf
of or with respect to such Partner any amount of U.S. federal, state, or local or non-U.S. taxes that the General Partner determines, in good faith, that the Partnership or any of its Subsidiaries is required
to withhold or pay with respect to any amount distributable or allocable to such Partner pursuant to this Agreement. In addition, if the Partnership is obligated to pay any other amount to a Governmental Entity (or otherwise makes a payment to a
Governmental Entity) that is specifically attributable to a Partner (including U.S. federal income taxes as a result of Partnership obligations pursuant to the Revised Partnership Audit Provisions with respect to items of income, gain, loss
deduction or credit allocable or attributable to such Partner, state personal property taxes and state unincorporated business taxes, but excluding payments such as professional association fees and the like made voluntarily by the Partnership on
behalf of any Partner based upon such Partner’s status as an employee of the Partnership), then such tax shall be treated as an amount of taxes withheld or paid with respect to such Partner pursuant to this
Section 5.05. For all purposes under this Agreement, any amounts withheld or paid with respect 

  
 28 

 
to a Partner pursuant to this Section 5.05 shall be treated as having been distributed to such Partner at the time such withholding or payment is made. Further, to the
extent that the cumulative amount of such withholding or payment for any period exceeds the distributions to which such Partner is entitled for such period, such Partner shall indemnify the Partnership in full for the amount of such excess. The
General Partner may offset Distributions to which a Person is otherwise entitled under this Agreement against such Person’s obligation to indemnify the Partnership under this Section 5.05. A Partner’s obligation
to indemnify the Partnership under this Section 5.05 shall survive the termination, dissolution, liquidation and winding up of the Partnership, and for purposes of this Section 5.05, the
Partnership shall be treated as continuing in existence. The Partnership may pursue and enforce all rights and remedies it may have against each Partner under this Section 5.05, including instituting a lawsuit to collect
amounts owed under such indemnity with interest accruing from the date such withholding or payment is made by the Partnership at a rate per annum equal to the sum of the Base Rate (but not in excess of the highest rate per annum permitted by Law).
Any income from such indemnity (and interest) shall not be allocated to or distributed to the Partner paying such indemnity (and interest). Each Partner hereby agrees to furnish to the Partnership such information and forms as required or reasonably
requested in order to comply with any laws and regulations governing withholding of tax or in order to claim any reduced rate of, or exemption from, withholding to which the Partner is legally entitled. 

Section 5.06 Tax Treatment. Notwithstanding anything to the contrary, the Partnership and the parties intend
the tax treatment described in Section 6.6(g) of the Alta Mesa Contribution Agreement and Section 6.7(h) of the Kingfisher Contribution Agreement. 

ARTICLE VI. 
 MANAGEMENT 

Section 6.01 Authority of General Partner. 

(a) Except for situations in which the approval of any Limited Partner(s) is specifically required by this Agreement, (i) all management
powers over the business and affairs of the Partnership shall be exclusively vested in the General Partner and (ii) the General Partner shall conduct, direct and exercise full control over all activities of the Partnership. Except as otherwise
expressly provided for herein and subject to the other provisions of this Agreement, no Limited Partner has the right or power to participate in the management or affairs of the Partnership, nor does any Limited Partner have the power to sign for or
bind the Partnership or deal with third parties on behalf of the Partnership without the consent of the General Partner. 
 (b) The day-to-day business and operations of the Partnership shall be overseen and implemented by officers of the Partnership (each, an “Officer” and
collectively, the “Officers”), subject to the limitations imposed by the General Partner. An Officer may, but need not, be a Partner. Each Officer shall be appointed by the General Partner and shall hold office until his or
her successor shall be duly designated and shall qualify or until his or her death or until he shall resign or shall have been removed in the manner hereinafter provided. Any one Person may hold more than one office. Subject to the other provisions
in this Agreement (including in Section 6.06 below), the salaries or other compensation, if any, of the Officers of the Partnership shall be fixed from time to time by the General Partner. The authority and responsibility
of the Officers 

  
 29 

 
shall include, but not be limited to, such duties as the General Partner may, from time to time, delegate to them and the carrying out of the Partnership’s business and affairs on a day-to-day basis. An Officer may also perform one or more roles as an officer of the General Partner. The General Partner may remove any Officer from office at any time, with
or without cause. If any vacancy shall occur in any office, for any reason whatsoever, then the General Partner shall have the right to appoint a new Officer to fill the vacancy. 

(c) The General Partner shall have the power and authority to effectuate the sale, lease, transfer, exchange or other disposition of any, all
or substantially all of the assets of the Partnership (including the exercise or grant of any conversion, option, privilege or subscription right or any other right available in connection with any assets at any time held by the Partnership) or the
merger, consolidation, reorganization or other combination of the Partnership with or into another entity. 
 (d) Notwithstanding any other
provision of this Agreement, neither the General Partner nor any Officer authorized by the General Partner shall have the authority, on behalf of the Partnership, either directly or indirectly, without the prior approval of each Partner, to take any
action that would result in the failure of the Partnership to be taxable as a partnership for purposes of federal income tax, or take any position inconsistent with treating the Partnership as a partnership for purposes of federal income tax, except
as required by Law. 
 Section 6.02 Actions of the General Partner. The General Partner may act
through any Officer or through any other Person or Persons to whom authority and duties have been delegated pursuant to Section 6.06. 

Section 6.03 Transfer and Withdrawal of General Partner. 

(a) Except in connection with a General Partner Change of Control, the General Partner shall not have the right to transfer or assign the
General Partner Interest, and the General Partner shall not have the right to withdraw from the Partnership; provided, that, without the consent of any of the Limited Partners, the General Partner may in good faith, at the General
Partner’s expense, be reconstituted as or converted into a corporation, partnership or other form of entity (any such reconstituted or converted entity being deemed to be the General Partner for all purposes hereof) by merger, consolidation,
conversion or otherwise, or transfer or assign the General Partner Interest (in whole or in part) to one of its Affiliates that is a wholly owned Subsidiary of the Corporation so long as such other entity or Affiliate shall have assumed in writing
the obligations of the General Partner under this Agreement. In the event of an assignment or other transfer of all of the General Partner Interest in accordance with this Section 6.03, such assignee or transferee shall be
substituted in the General Partner’s place as general partner of the Partnership and immediately thereafter the General Partner shall withdraw as a general partner of the Partnership (but shall remain entitled to exculpation and indemnification
pursuant to Section 6.07 and Section 7.04 with respect to events occurring on or prior to such date). 

(b) Except as otherwise contemplated by Section 6.03(a), no assignee or transferee shall become the general partner
of the Partnership by virtue of such assignee’s or transferee’s receiving all or a portion of any interest in the Partnership from the General Partner or another assignee or transferee from the General Partner without the written consent
of all of the Partners to such substitution, which consent may be given or withheld, or made subject to such conditions as each Partner deems appropriate in its sole discretion. 

  
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 Section 6.04 Transactions Between Partnership and General
Partner. The General Partner may cause the Partnership to contract and deal with the General Partner, or any Affiliate of the General Partner, provided such contracts and dealings are on terms comparable to and competitive with those
available to the Partnership from others dealing at arm’s length or are approved by the Partners holding a majority of the Units (excluding Units held by the General Partner and its controlled Affiliates) then outstanding and otherwise are
permitted by the Credit Agreement. 
 Section 6.05 Reimbursement for Expenses. The Limited Partners
acknowledge and agree that the General Partner is and will continue to be a wholly owned Subsidiary of the Corporation, whose Class A Common Stock is and will continue to be publicly traded, and therefore the General Partner and the Corporation
will have access to the public capital markets and that such status and the services performed by the General Partner will inure to the benefit of the Partnership and all Limited Partners; therefore, the General Partner and the Corporation shall be
reimbursed by the Partnership for any reasonable out-of-pocket expenses incurred on behalf of the Partnership, including all fees, expenses and costs of the Corporation
being a public company (including public reporting obligations, proxy statements, stockholder meetings, stock exchange fees, transfer agent fees, SEC and FINRA filing fees and offering expenses) and maintaining its corporate existence. In the event
that (i) shares of Class A Common Stock were sold to underwriters in the initial public offering of the Corporation or are sold to underwriters in any public offering after the Effective Time, in each case, at a price per share that is
lower than the price per share for which such shares of Class A Common Stock are sold to the public in such public offering after taking into account underwriters’ discounts or commissions and brokers’ fees or commissions (including,
for the avoidance of doubt, any deferred discounts or commissions and brokers’ fees or commissions payable in connection with or as a result of the Contribution Closing) (such difference, the “Discount”) and
(ii) the proceeds from such public offering are used to fund the Cash Settlement for any Redeemed Units or otherwise contributed to the Partnership, the Partnership shall reimburse the Corporation for such Discount by treating such Discount as
an additional Capital Contribution made by the Corporation to the Partnership, issuing Common Units in respect of such deemed Capital Contribution in accordance with Section 11.02, and increasing the Corporation’s
Capital Account by the amount of such Discount. To the extent practicable, expenses incurred by the General Partner or the Corporation on behalf of or for the benefit of the Partnership shall be billed directly to and paid by the Partnership and, if
and to the extent any reimbursements to the General Partner or the Corporation or any of their respective Affiliates by the Partnership pursuant to this Section 6.05 constitute gross income to such Person (as opposed to the
repayment of advances made by such Person on behalf of the Partnership), such amounts shall be treated as “guaranteed payments” within the meaning of Code Section 707(c) and shall not be treated as distributions for purposes of
computing the Limited Partners’ Capital Accounts. 

  
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 Section 6.06 Delegation of Authority. The General Partner
(a) may, from time to time, delegate to one or more Persons such authority and duties as the General Partner may deem advisable, and (b) may assign titles (including chief executive officer, president, chief executive officer, chief
financial officers, chief operating officer, vice president, secretary, assistant secretary, treasurer or assistant treasurer) and delegate certain authority and duties to such Persons as the same may be amended, restated or otherwise modified from
time to time. Any number of titles may be held by the same individual. The salaries or other compensation, if any, of such agents of the Partnership shall be fixed from time to time by the General Partner, subject to the other provisions in this
Agreement. 
 Section 6.07 Limitation of Liability of the General Partner. 

(a) Except as otherwise provided herein or in an agreement entered into by such Person and the Partnership, neither the General Partner nor any
of the General Partner’s Affiliates shall be liable to the Partnership or to any Partner that is not the General Partner for any act or omission performed or omitted by the General Partner in its capacity as the general partner of the
Partnership pursuant to authority granted to the General Partner by this Agreement; provided, however, that, except as otherwise provided herein, such limitation of liability shall not apply to the extent the act or omission was attributable
to the General Partner’s bad faith, willful misconduct or violation of Law in which the General Partner acted with knowledge that its conduct was unlawful, or for any present or future breaches of any representations, warranties, covenants or
obligations by the General Partner or its Affiliates contained herein or in the other agreements with the Partnership. The General Partner may exercise any of the powers granted to it by this Agreement and perform any of the duties imposed upon it
hereunder either directly or by or through its agents, and shall not be responsible for any misconduct or negligence on the part of any such agent (so long as such agent was selected in good faith and with reasonable care). The General Partner shall
be entitled to rely upon the advice of legal counsel, independent public accountants and other experts, including financial advisors, and any act of or failure to act by the General Partner in good faith reliance on such advice shall in no event
subject the General Partner to liability to the Partnership or any Partner that is not the General Partner. 
 (b) Whenever this Agreement or
any other agreement contemplated herein provides that the General Partner shall act in a manner which is, or provide terms which are, “fair and reasonable” to the Partnership or any Partner that is not the General Partner, the General
Partner shall determine such appropriate action or provide such terms considering, in each case, the relative interests of each party to such agreement, transaction or situation and the benefits and burdens relating to such interests, any customary
or accepted industry practices, and any applicable United States generally accepted accounting practices or principles. 
 (c) Whenever in
this Agreement or any other agreement contemplated herein, the General Partner is permitted or required to take any action or to make a decision in its “sole discretion” with “complete discretion” or under a grant of similar
authority or latitude, the General Partner shall be entitled to consider such interests and factors as it desires, including its own interests, and shall, to the fullest extent permitted by applicable Law, have no duty or obligation to give any
consideration to any interest of or factors affecting the Partnership or other Partners. 

  
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 (d) Whenever in this Agreement the General Partner is permitted or required to take any action or
to make a decision in its “reasonable discretion,” “good faith” or under another express standard, the General Partner shall act under such express standard and, to the fullest extent permitted by applicable Law, shall not be
subject to any other or different standards imposed by this Agreement or any other agreement contemplated herein, and, notwithstanding anything contained herein to the contrary, so long as the General Partner acts in good faith, the resolution,
action or terms so made, taken or provided by the General Partner shall not constitute a breach of this Agreement or any other agreement contemplated herein or impose liability upon the General Partner or any of the General Partner’s
Affiliates. 
 Section 6.08 Investment Company Act. The General Partner shall use its best efforts to
ensure that the Partnership shall not be subject to registration as an investment company pursuant to the Investment Company Act. 

Section 6.09 Outside Activities of the Corporation and the General Partner. The Corporation shall not,
and shall not cause or permit the General Partner to, directly or indirectly, enter into or conduct any business or operations, other than, as applicable, in connection with (a) the ownership, acquisition and disposition of Common Units,
(b) the management of the business and affairs of the Partnership and its Subsidiaries, (c) the operation of the Corporation as a reporting company with a class (or classes) of securities registered under Section 12 of the Exchange
Act and listed on a securities exchange, (d) the offering, sale, syndication, private placement or public offering of stock, bonds, securities or other interests, (e) financing or refinancing of any type related to the Partnership, its
Subsidiaries or their assets or activities, and (f) such activities as are incidental to the foregoing; provided, however, that, except as otherwise provided herein, the net proceeds of any sale of Equity Securities of the Corporation
pursuant to the preceding clauses (d) and (e) shall be made available to the Partnership as Capital Contributions and the proceeds of any other financing raised by the Corporation pursuant to the preceding clauses (d) and (e) shall be made
available to the Partnership as loans or otherwise as appropriate and, provided further, that the Corporation may, in its sole and absolute discretion, from time to time hold or acquire assets in its own name or otherwise other than through
the Partnership and its Subsidiaries so long as the Corporation takes all necessary measures to ensure that the economic benefits and burdens of such assets are otherwise vested in the Partnership or its Subsidiaries, through assignment, mortgage
loan or otherwise. Nothing contained herein shall be deemed to prohibit the General Partner from executing any guarantee of indebtedness of the Partnership or its Subsidiaries. 

Section 6.10 Standard of Care. Except to the extent otherwise expressly set forth in this Agreement, the
General Partner shall, in connection with the performance of its duties in its capacity as the General Partner, have the same fiduciary duties to the Partnership and the Partners as would be owed to a Delaware corporation and its stockholders by its
directors, and shall be entitled to the benefit of the same presumptions in carrying out such duties as would be afforded to a director of a Delaware corporation (as such duties and presumptions are defined, described and explained under the Laws of
the State of Delaware as in effect from time to time). The provisions of this Agreement, to the extent that they restrict or eliminate the duties (including fiduciary duties) and liabilities of the General Partner otherwise existing at law or in
equity, are agreed by the Partners to replace, to the fullest extent permitted by applicable Law, such other duties and liabilities of the General Partner. 

  
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 ARTICLE VII. 

RIGHTS AND OBLIGATIONS OF PARTNERS 

Section 7.01 Limitation of Liability and Duties of Partners; Investment Opportunities. 

(a) Except as provided in this Agreement or in the Delaware Act, no Partner (including the General Partner) shall be obligated personally for
any debt, obligation or liability solely by reason of being a Partner or acting as the General Partner of the Partnership; provided that, in the case of the General Partner, this sentence shall not in any manner limit the liability of the
General Partner to the Partnership or any Partner (other than the General Partner) attributable to a breach by the General Partner of any obligations of the General Partner under this Agreement. Notwithstanding anything contained herein to the
contrary, the failure of the Partnership to observe any formalities or requirements relating to the exercise of its powers or management of its business and affairs under this Agreement or the Delaware Act shall not be grounds for imposing personal
liability on the Partners for liabilities of the Partnership. 
 (b) In accordance with the Delaware Act and the laws of the State of
Delaware, a Partner may, under certain circumstances, be required to return amounts previously distributed to such Partner. It is the intent of the Partners that no Distribution to any Partner pursuant to Article IV shall be deemed a return
of money or other property paid or distributed in violation of the Delaware Act. The payment of any such money or Distribution of any such property to a Partner shall be deemed to be a compromise within the meaning of
Section 17-502(b) of the Delaware Act, and, to the fullest extent permitted by Law, any Partner receiving any such money or property shall not be required to return any such money or property to the
Partnership or any other Person. However, if any court of competent jurisdiction holds that, notwithstanding the provisions of this Agreement, any Partner is obligated to make any such payment, such obligation shall be the obligation of such Partner
and not of any other Partner. 
 (c) Notwithstanding any other provision of this Agreement (subject to Section 6.07
and except as set forth in Section 6.10, in each case with respect to the General Partner), to the extent that, at law or in equity, any Partner (or such Partner’s Affiliate or any manager, managing member, general
partner, director, officer, employee, agent, fiduciary or trustee of such Partner or of any Affiliate of such Partner (each Person described in this parenthetical, a “Related Person”)) has duties (including fiduciary duties)
to the Partnership, to another Partner (including the General Partner), to any Person who acquires an interest in a Limited Partner Interest or to any other Person bound by this Agreement, all such duties (including fiduciary duties) are hereby
eliminated, to the fullest extent permitted by law, and replaced with the duties or standards expressly set forth herein, if any. The elimination of duties (including fiduciary duties) to the Partnership, each of the Partners (including the General
Partner), each other Person who acquires an interest in a Limited Partner Interest and each other Person bound by this Agreement and replacement thereof with the duties or standards expressly set forth herein, if any, are approved by the
Partnership, each of the Partners (including the General Partner), each other Person who acquires an interest in a Limited Partner Interest and each other Person bound by this Agreement. 

  
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 (d) Notwithstanding any duty (including any fiduciary duty) otherwise applicable at law or in
equity, the doctrine of corporate opportunity, or any analogous doctrine, will not apply to any Partner (including the General Partner) or to any Related Person of such Partner, and no Partner (or any Related Person of such Partner) that acquires
knowledge of a potential transaction, agreement, arrangement or other matter that may be an opportunity for the Partnership or the Partners will have any duty to communicate or offer such opportunity to the Partnership or the Partners, or to develop
any particular investment, and such Person will not be liable to the Partnership or the Partners for breach of any fiduciary or other duty by reason of the fact that such Person pursues or acquires for, or directs such opportunity to, another Person
or does not communicate such investment opportunity to the Partners. Notwithstanding any duty (including any fiduciary duty) otherwise applicable at law or in equity, neither the Partnership nor any Partner has any rights or obligations by virtue of
this Agreement or the relationships created hereby in or to such independent ventures or the income or profits or losses derived therefrom, and the pursuit of any such ventures outside the Partnership, even if competitive with the activities of the
Partnership or the Partners, will not be deemed wrongful or improper. 
 Section 7.02 Lack of Authority. No
Partner, other than the General Partner or a duly appointed Officer, in each case in its capacity as such, has the authority or power to act for or on behalf of the Partnership, to do any act that would be binding on the Partnership or to make any
expenditure on behalf of the Partnership. The Partners hereby consent to the exercise by the General Partner of the powers conferred on them by Law and this Agreement. 

Section 7.03 No Right of Partition. No Partner, other than the General Partner, shall have the right to seek
or obtain partition by court decree or operation of Law of any Partnership property, or the right to own or use particular or individual assets of the Partnership. 

Section 7.04 Indemnification. 

(a) Subject to Section 5.05, the Partnership hereby agrees to indemnify and hold harmless any Person (each an
“Indemnified Person”) to the fullest extent permitted under the Delaware Act, as the same now exists or may hereafter be amended, substituted or replaced (but, in the case of any such amendment, substitution or replacement
only to the extent that such amendment, substitution or replacement permits the Partnership to provide broader indemnification rights than the Partnership is providing immediately prior to such amendment), against all expenses, liabilities and
losses (including attorneys’ fees, judgments, fines, excise taxes or penalties) reasonably incurred or suffered by such Person (or one or more of such Person’s Affiliates) by reason of the fact that such Person is or was a Partner or is or
was serving as the General Partner, Officer, employee or other agent of the Partnership or is or was serving at the request of the Partnership as a manager, officer, director, principal, member, employee or agent of another corporation, partnership,
joint venture, limited liability company, trust or other enterprise; provided, however, that no Indemnified Person shall be indemnified for any expenses, liabilities and losses suffered that are attributable to such Indemnified Person’s
or its Affiliates’ bad faith, willful misconduct or violation of Law in which such Indemnified Person acted with knowledge that its conduct was unlawful, or for any present or future breaches of any representations, warranties, covenants or
obligations by such Indemnified Person or its Affiliates contained herein or in the other agreements with the Partnership. Expenses, including attorneys’ fees, incurred by any such Indemnified Person in defending a proceeding shall be paid by
the Partnership in advance of the final disposition of such proceeding, including any appeal therefrom, upon receipt of an undertaking by or on behalf of such Indemnified Person to repay such amount if it shall ultimately be determined that such
Indemnified Person is not entitled to be indemnified by the Partnership. 

  
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 (b) The right to indemnification and the advancement of expenses conferred in this
Section 7.04 shall not be exclusive of any other right which any Person may have or hereafter acquire under any statute, agreement, bylaw, action by the General Partner or otherwise. 

(c) The Partnership shall maintain directors’ and officers’ liability insurance, or substantially equivalent insurance, at its
expense, to protect any Indemnified Person (and the investment funds, if any, they represent) against any expense, liability or loss described in Section 7.04(a) whether or not the Partnership would have the power to
indemnify such Indemnified Person against such expense, liability or loss under the provisions of this Section 7.04. The Partnership shall use its commercially reasonable efforts to purchase and maintain property, casualty
and liability insurance in types and at levels customary for companies of similar size engaged in similar lines of business, as determined in good faith by the General Partner. 

(d) Notwithstanding anything contained herein to the contrary (including in this Section 7.04), the Partnership
agrees that any indemnification and advancement of expenses available to any current or former Indemnified Person from any investment fund that is an Affiliate of the Partnership who served as a director of the Partnership or as a Partner of the
Partnership by virtue of such Person’s service as a member, director, partner or employee of any such fund prior to or following the Effective Time (any such Person, a “Sponsor Person”) shall be secondary to the
indemnification and advancement of expenses to be provided by the Partnership pursuant to this Section 7.04 which shall be provided out of and to the extent of Partnership assets only and no Partner (unless such Partner
otherwise agrees in writing or is found in a final decision by a court of competent jurisdiction to have personal liability on account thereof) shall have personal liability on account thereof or shall be required to make additional Capital
Contributions to help satisfy such indemnity of the Partnership and the Partnership (i) shall be the primary indemnitor of first resort for such Sponsor Person pursuant to this Section 7.04 and (ii) shall be fully
responsible for the advancement of all expenses and the payment of all damages or liabilities with respect to such Sponsor Person which are addressed by this Section 7.04. 

(e) If this Section 7.04 or any portion hereof shall be invalidated on any ground by any court of competent
jurisdiction, then the Partnership shall nevertheless indemnify and hold harmless each Indemnified Person pursuant to this Section 7.04 to the fullest extent permitted by any applicable portion of this
Section 7.04 that shall not have been invalidated and to the fullest extent permitted by applicable Law. 

Section 7.05 Limited Partners’ Right to Act. For matters that require the approval of the
Limited Partners, the Limited Partners shall act through meetings and written consents as described in paragraphs (a) and (b) below: 

(a) Except as otherwise expressly provided by this Agreement, acts by the Limited Partners holding a majority of the outstanding Units, voting
together as a single class, shall be the acts of the Limited Partners. Any Limited Partner entitled to vote at a meeting of Limited 

  
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Partners may authorize another person or persons to act for it by proxy. An electronic mail, telegram, telex, cablegram or similar transmission by the Limited Partner, or a photographic,
photostatic, facsimile or similar reproduction of a writing executed by the Limited Partner shall (if stated thereon) be treated as a proxy executed in writing for purposes of this Section 7.05(a). No proxy shall be voted
or acted upon after eleven months from the date thereof, unless the proxy provides for a longer period. A proxy shall be revocable unless the proxy form conspicuously states that the proxy is irrevocable and that the proxy is coupled with an
interest. Should a proxy designate two or more Persons to act as proxies, unless that instrument shall provide to the contrary, a majority of such Persons present at any meeting at which their powers thereunder are to be exercised shall have and may
exercise all the powers of voting or giving consents thereby conferred, or, if only one be present, then such powers may be exercised by that one; or, if an even number attend and a majority do not agree on any particular issue, the Partnership
shall not be required to recognize such proxy with respect to such issue if such proxy does not specify how the votes that are the subject of such proxy are to be voted with respect to such issue. 

(b) The actions by the Limited Partners permitted hereunder may be taken at a meeting called by the General Partner or by the Limited Partners
holding a majority of the Units entitled to vote on such matter on at least 48 hours’ prior written notice to the other Limited Partners entitled to vote, which notice shall state the purpose or purposes for which such meeting is being called.
The actions taken by the Limited Partners entitled to vote or consent at any meeting (as opposed to by written consent), however called and noticed, shall be as valid as though taken at a meeting duly held after regular call and notice if (but not
until), either before, at or after the meeting, the Limited Partners entitled to vote or consent as to whom it was improperly held signs a written waiver of notice or a consent to the holding of such meeting or an approval of the minutes thereof.
The actions by the Limited Partners entitled to vote or consent may be taken by vote of the Limited Partners entitled to vote or consent at a meeting or by written consent, so long as such consent is signed by Limited Partners having not less than
the minimum number of Units that would be necessary to authorize or take such action at a meeting at which all Limited Partners entitled to vote thereon were present and voted. Prompt notice of the action so taken, which shall state the purpose or
purposes for which such consent is required and may be delivered via email, without a meeting shall be given to those Limited Partners entitled to vote or consent who have not consented in writing; provided, however, that the failure to give
any such notice shall not affect the validity of the action taken by such written consent. Any action taken pursuant to such written consent of the Limited Partners shall have the same force and effect as if taken by the Limited Partners at a
meeting thereof. 
 Section 7.06 Inspection Rights. The Partnership shall permit each Partner and each of
its designated representatives to visit and inspect (i) the books and records of the Partnership, including its partner ledger and a list of its Partners and (ii) the books and records of its Subsidiaries. The Partners have no other
inspection rights. 

  
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 ARTICLE VIII. 

BOOKS, RECORDS, ACCOUNTING AND REPORTS 

Section 8.01 Records and Accounting. The Partnership shall keep, or cause to be kept, appropriate books and
records with respect to the Partnership’s business, including all books and records necessary to provide any information, lists and copies of documents required to be provided pursuant to Section 8.03 or pursuant to
applicable Laws. All matters concerning (a) the determination of the relative amount of allocations and Distributions among the Limited Partners pursuant to Articles III and IV and (b) accounting procedures and
determinations, and other determinations not specifically and expressly provided for by the terms of this Agreement, shall be determined by the General Partner, whose determination shall be final and conclusive as to all of the Limited Partners
absent manifest clerical error. 
 Section 8.02 Fiscal Year. The Fiscal Year of the Partnership shall end
on December 31 of each year or such other date as may be established by the General Partner; provided that the Partnership shall have the same Fiscal Year for accounting purposes as its Taxable Year for U.S. federal income tax purposes.

 Section 8.03 Reports. The Partnership shall deliver or cause to be delivered, within ninety
(90) days after the end of each Fiscal Year, to each Person who was a Partner at any time during such Fiscal Year, all information reasonably necessary for the preparation of such Person’s United States federal and applicable state income
tax returns. 
 ARTICLE IX. 
 TAX
MATTERS 
 Section 9.01 Preparation of Tax Returns. The General Partner shall arrange, at the
Partnership’s expense, for the preparation and timely filing of all tax returns required to be filed by the Partnership. On or before March 15, June 15, September 15, and December 15 of each Taxable Year, the Partnership
shall send to each Person who was a Partner at any time during the prior quarter, an estimate of such Partner’s state tax apportionment information and allocations to the Partners of taxable income, gains, losses, deductions and credits for the
prior quarter, which estimate shall have been reviewed by the Partnership’s outside tax accountants. In addition, no later than the later of (i) March 15 following the end of the prior Taxable Year, and (ii) thirty (30) Business
Days after the issuance of the final financial statement report for a Fiscal Year by the Partnership’s auditors but in no event later than April 15 following the end of the prior Taxable Year, the Partnership shall send to each Person who
was a Partner at any time during such Taxable Year, a statement showing such Partner’s (A) final state tax apportionment information, (B) allocations to the Partners of taxable income, gains, losses, deductions and credits for such
Taxable Year, (C) a completed IRS Schedule K-1 and (D) all other information reasonably requested and necessary for the preparation of such Partner’s U.S. federal (and applicable state and local) income tax returns, provided
that if a complete IRS Schedule K-1 is not issued by March 15 following the end of the relevant Taxable Year, the General Partner shall cause the Partnership to provide each Partner a draft IRS Schedule K-1 for the relevant Taxable Year by March 15 following the end of such Taxable Year. Each Partner shall notify the Partnership, and the Partnership shall take reasonable efforts to notify each of the other
Partners, upon receipt of any notice of tax examination of the Partnership by U.S. federal, state or local authorities. Subject to the terms and conditions of this Agreement, in its capacity as Tax Matters Partner or Partnership Representative (as
applicable), the General Partner shall have the authority to prepare the tax returns of the Partnership using the elections set forth in Section 9.02 and such other permissible methods and elections as it determines in its
reasonable discretion. 

  
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 Section 9.02 Tax Elections. The Partnership and any eligible
Subsidiary shall make an election pursuant to Section 754 of the Code, shall not thereafter revoke such election and shall make a new election pursuant to Section 754 to the extent necessary following any “termination” of the
Partnership or the Subsidiary under Section 708 of the Code. In addition, the Partnership (and any eligible Subsidiary) shall make the following elections on the appropriate forms or tax returns: 

(a) to adopt the calendar year as the Partnership’s Taxable Year, if permitted under the Code; 

(b) to adopt the accrual method of accounting for U.S. federal income tax purposes; and 

(c) to elect to amortize the organizational expenses of the Partnership as permitted by Code Section 709(b). 

Each Partner will upon request supply any information reasonably necessary to give proper effect to any such elections. 

Section 9.03 Tax Controversies. 

(a) With respect to Tax Years beginning on or before December 31, 2017, the General Partner is hereby designated the Tax Matters Partner
of the Partnership, within the meaning given to such term in Section 6231 of the Code (the General Partner, in such capacity, the “Tax Matters Partner”) and is authorized and required to represent the Partnership (at the
Partnership’s expense) in connection with all examinations of the Partnership’s affairs by tax authorities, including resulting administrative and judicial proceedings, and to expend Partnership funds for professional services reasonably
incurred in connection therewith. Each Partner agrees to cooperate with the Partnership and to do or refrain from doing any or all things reasonably requested by the Partnership with respect to the conduct of such proceedings. The Tax Matters
Partner shall keep all Partners fully advised on a current basis of any contacts by or discussions with the tax authorities. 
 (b) With
respect to Tax Years beginning after December 31, 2017, pursuant to the Revised Partnership Audit Provisions, the General Partner shall be designated and may, on behalf of the Partnership, at any time, and without further notice to or consent
from any Partner, act as the “partnership representative” of the Partnership, within the meaning given to such term in Section 6223 of the Code (the General Partner, in such capacity, the “Partnership
Representative”) for purposes of the Code. The Partnership Representative shall have the right and obligation to take all actions authorized and required, respectively, by the Code for the Partnership Representative, and is authorized
and required to represent the Partnership (at the Partnership’s expense) in connection with all examinations of the Partnership’s affairs by tax authorities, including resulting administrative and judicial proceedings, and to expend
Partnership funds for professional services reasonably incurred in connection therewith. Without the consent of the Limited Partners, the Partnership Representative shall not make any election apply the “alternative to payment of imputed
underpayment by partnership” under Section 6226 of the Revised Partnership Audit Provisions (or any corresponding or similar provisions of any 

  
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amendments thereto) to pass the underpayment adjustment of the Partnership to any partners of the reviewed year. Each Partner agrees to cooperate with the Partnership and to do or refrain from
doing any or all things reasonably requested by the Partnership with respect to the conduct of such proceedings. The Partnership Representative shall keep all Partners fully advised on a current basis of any contacts by or discussions with the tax
authorities. 
 ARTICLE X. 

RESTRICTIONS ON TRANSFER OF UNITS 

Section 10.01 Transfers by Partners. No holder of Units may Transfer any interest in any Units, except
Transfers (a) pursuant to and in accordance with Section 10.02 or (b) approved in writing by the General Partner. Notwithstanding the foregoing, “Transfer” shall not include an event that does not
terminate the existence of such Limited Partner under applicable state law (or, in the case of a trust that is a Limited Partner, does not terminate the trusteeship of the fiduciaries under such trust with respect to all the Limited Partner
Interests of such trust that is a Limited Partner). Notwithstanding the foregoing, this Article X shall not apply to any Redemption pursuant to Section 11.01 or exchange pursuant to
Section 11.03. 
 Section 10.02 Permitted Transfers. The restrictions contained
in Section 10.01 shall not apply to any Transfer (each, a “Permitted Transfer”) (i) by a Limited Partner to an Affiliate of such Limited Partner, (ii) by HMH, the Kingfisher Contributor or the
Riverstone Contributor to the direct or indirect holders of equity interests in HMH, the Kingfisher Contributor or the Riverstone Contributor, respectively, (iii) by any transferee pursuant to clause (ii) of this sentence to any Affiliate
of such transferee or any trust, family partnership or family limited liability company, the sole beneficiaries, partners or members of which are such transferee or Relatives of such transferee, or (iv) pursuant to a Redemption or Direct
Exchange in accordance with Article XI hereof; provided, however, that (A) the restrictions contained in this Agreement will continue to apply to Units after any Permitted Transfer of such Units, (B) neither HMH nor the
Kingfisher Contributor shall transfer any interest in any Units in violation of the Alta Mesa Contribution Agreement or Kingfisher Contribution Agreement, respectively, and (C) in the case of the foregoing clauses (i), (ii) and (iii), the
transferees of the Units so Transferred shall agree in writing to be bound by the provisions of this Agreement, and the transferor will deliver a written notice to the Partnership and the Partners, which notice will disclose in reasonable detail the
identity of the proposed transferee. In the case of a Permitted Transfer (other than a Redemption or Direct Exchange) by any Limited Partner (other than the Corporation) of Common Units to a transferee in accordance with this
Section 10.02, such Limited Partner (or any subsequent transferee of such Limited Partner) shall be required to also transfer a number of shares of Class C Common Stock corresponding to the number of such Limited
Partner’s (or subsequent transferee’s) Common Units that were transferred in the transaction to such transferee; and, in the case of a Redemption or Direct Exchange, a number of shares of Class C Common Stock corresponding to the
number of such Limited Partner’s Common Units that were transferred in such Redemption or Direct Exchange shall be cancelled. All Permitted Transfers are subject to the additional limitations set forth in
Section 10.07(b). 

  
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 Section 10.03 Restricted Units Legend. The Units have not been
registered under the Securities Act and, therefore, in addition to the other restrictions on Transfer contained in this Agreement, cannot be sold unless subsequently registered under the Securities Act or an exemption from such registration is then
available. To the extent such Units have been certificated, each certificate evidencing Units and each certificate issued in exchange for or upon the Transfer of any Units (if such securities remain Units as defined herein after such Transfer) shall
be stamped or otherwise imprinted with a legend in substantially the following form: 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE
WERE ORIGINALLY ISSUED ON FEBRUARY 9, 2018, AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE ACT OR AN EXEMPTION FROM REGISTRATION THEREUNDER. THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER SPECIFIED IN THE AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF SRII OPCO, LP, AS
MAY BE AMENDED AND MODIFIED FROM TIME TO TIME, AND SRII OPCO, LP RESERVES THE RIGHT TO REFUSE THE TRANSFER OF SUCH SECURITIES UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED WITH RESPECT TO ANY TRANSFER. A COPY OF SUCH CONDITIONS SHALL BE FURNISHED BY
SRII OPCO, LP TO THE HOLDER HEREOF UPON WRITTEN REQUEST AND WITHOUT CHARGE.” 
 The Partnership shall imprint such legend on certificates (if any)
evidencing Units. The legend set forth above shall be removed from the certificates (if any) evidencing any units which cease to be Units in accordance with the definition thereof. 

Section 10.04 Transfer. Prior to Transferring any Units (other than (i) in connection with a Redemption
or Direct Exchange in accordance with Article XI or (ii) pursuant to a Change of Control Transaction), the Transferring holder of Units shall cause the prospective transferee to be bound by this Agreement and any other agreements
executed by the holders of Units and relating to such Units in the aggregate (collectively, the “Other Agreements”), and shall cause the prospective transferee to execute and deliver to the Partnership and the other holders
of Units a Joinder (or other counterpart to this Agreement acceptable to the General Partner) and counterparts of any applicable Other Agreements. Any Transfer or attempted Transfer of any Units in violation of any provision of this Agreement
(including any prohibited indirect Transfers) (a) shall be void, and (b) the Partnership shall not record such Transfer on its books or treat any purported transferee of such Units as the owner of such securities for any purpose. 

Section 10.05 Assignee’s Rights. 

(a) The Transfer of a Limited Partner Interest in accordance with this Agreement shall be effective as of the date of its assignment (assuming
compliance with all of the conditions to such Transfer set forth herein), and such Transfer shall be shown on the books and records of the Partnership. Profits, Losses and other Partnership items shall be allocated between the transferor and the
Assignee according to Code Section 706, using any permissible method as determined in the reasonable discretion of the General Partner. Distributions made before the effective date of such Transfer shall be paid to the transferor, and
Distributions made after such date shall be paid to the Assignee. 

  
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 (b) Unless and until an Assignee becomes a Limited Partner pursuant to Article XII, the
Assignee shall not be entitled to any of the rights granted to a Limited Partner hereunder or under applicable Law, other than the rights granted specifically to Assignees pursuant to this Agreement; provided, however, that, without relieving
the transferring Limited Partner from any such limitations or obligations as more fully described in Section 10.06, such Assignee shall be bound by any limitations and obligations of a Limited Partner contained herein that
a Limited Partner would be bound on account of the Assignee’s Limited Partner Interest (including the obligation to make Capital Contributions on account of such Limited Partner Interest). 

Section 10.06 Assignor’s Rights and Obligations. Any Limited Partner who shall Transfer
any Limited Partner Interest in a manner in accordance with this Agreement shall cease to be a Limited Partner with respect to such Units or other interest and shall no longer have any rights or privileges, or, except as set forth in this
Section 10.06, duties, liabilities or obligations, of a Limited Partner with respect to such Units or other interest (it being understood, however, that the applicable provisions of Section 6.07,
Section 7.01 and Section 7.04 shall continue to inure to such Person’s benefit), except that unless and until the Assignee (if not already a Limited Partner) is admitted as a Substituted
Limited Partner in accordance with the provisions of Article XII (the “Admission Date”), (i) such assigning Limited Partner shall retain all of the duties, liabilities and obligations of a Limited Partner with respect
to such Units or other interest, and (ii) the General Partner may, in its sole discretion, reinstate all or any portion of the rights and privileges of such Limited Partner with respect to such Units or other interest for any period of time
prior to the Admission Date. Nothing contained herein shall relieve any Limited Partner who Transfers any Units or other interest in the Partnership from any liability of such Limited Partner to the Partnership with respect to such Limited Partner
Interest that may exist on the Admission Date or that is otherwise specified in the Delaware Act and incorporated into this Agreement or for any liability to the Partnership or any other Person for any materially false statement made by such Limited
Partner (in its capacity as such) or for any present or future breaches of any representations, warranties or covenants by such Limited Partner (in its capacity as such) contained herein or in the other agreements with the Partnership. 

Section 10.07 Overriding Provisions. 

(a) Any Transfer in violation of this Article X shall be null and void ab initio, and the provisions of Sections 10.05 and
10.06 shall not apply to any such Transfers. For the avoidance of doubt, any Person to whom a Transfer is made or attempted in violation of this Article X shall not become a Limited Partner, shall not be entitled to vote on any matters
coming before the Limited Partners and shall not have any other rights in or with respect to any rights of a Limited Partner of the Partnership. The approval of any Transfer in any one or more instances shall not limit or waive the requirement for
such approval in any other or future instance. The General Partner shall promptly amend the Schedule of Limited Partners to reflect any Permitted Transfer pursuant to this Article X. 

  
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 (b) Notwithstanding anything contained herein to the contrary (including, for the avoidance of
doubt, the provisions of Section 10.01 and Article XI and Article XII), in no event shall any Limited Partner Transfer any Units to the extent such Transfer would: 

(i) result in the violation of the Securities Act, or any other applicable U.S. federal or state or non-U.S. Laws; 
 (ii) subject the Partnership to registration as an investment company
under the Investment Company Act; 
 (iii) in the reasonable determination of the General Partner, be a violation of or a
default (or an event that, with notice or the lapse of time or both, would constitute a default) under, or result in an acceleration of any indebtedness under, any promissory note, mortgage, loan agreement, indenture or similar instrument or
agreement to which the Partnership or the General Partner is a party; provided that the payee or creditor to whom the Partnership or the General Partner owes such obligation is not an Affiliate of the Partnership or the General Partner; 

(iv) cause the Partnership to lose its status as a partnership for U.S. federal income tax purposes or, without limiting the
generality of the foregoing, cause the Partnership to be treated as a “publicly traded partnership” or to be taxed as a corporation pursuant to Section 7704 of the Code and any applicable Treasury Regulations issued thereunder, or any
successor provision of the Code; 
 (v) be a Transfer to a Person who is not legally competent or who has not achieved his or
her majority under applicable Law (excluding trusts for the benefit of minors); or 
 (vi) result in the Partnership having
more than one hundred (100) partners, within the meaning of Treasury Regulations Section 1.7704-1(h)(1) (determined pursuant to the rules of Treasury Regulations
Section 1.7704-1(h)(3)). 
 ARTICLE XI. 

REDEMPTION AND EXCHANGE RIGHTS 

Section 11.01 Redemption Right of a Limited Partner. 

(a) Each Limited Partner (other than the Corporation) shall be entitled to cause the Partnership to redeem (a
“Redemption”) all or any portion of its Common Units (the “Redemption Right”) at any time on or after the date that is 180 days after the date of this Agreement; provided, that, notwithstanding the
foregoing, the Kingfisher Contributor may cause the Redemption of not more than 39,000,000 Common Units in the aggregate (plus any Additional Common Units (as defined in the Kingfisher Contribution Agreement)) at any time that is 90 days after the
date of this Agreement. A Limited Partner desiring to exercise its Redemption Right (the “Redeemed Partner”) shall exercise such right by giving written notice (the “Redemption Notice”) to the
Partnership with a copy to the Corporation (the date of the delivery of such Redemption Notice, the “Redemption Notice Date”). The Redemption Notice shall specify the number of Common Units (the “Redeemed
Units”) that the Redeemed Partner intends to have the Partnership redeem. The Redemption shall be completed on the date that is three (3) Business Days following delivery of the applicable Redemption Notice, unless the Partnership
elects to make the redemption payment by means of a Cash Settlement, in which case the Redemption shall be completed as promptly as practicable following delivery of the 

  
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applicable Redemption Notice, but in any event, no more than ten (10) Business Days after delivery of such Redemption Notice (unless and to the extent that the General Partner in its sole
discretion agrees in writing to waive such time periods) (the date of such completion, the “Redemption Date”); provided that the Partnership, the Corporation and the Redeemed Partner may change the number of Redeemed
Units and/or the Redemption Date specified in such Redemption Notice to another number and/or date by mutual agreement signed in writing by each of them; provided further that a Redemption Notice may be conditioned on the closing of an
underwritten distribution of the shares of Class A Common Stock that may be issued in connection with such proposed Redemption. Unless the Redeemed Partner timely has delivered a Retraction Notice as provided in
Section 11.01(b) or has delayed a Redemption as provided in Section 11.01(c) or the Corporation has elected to effect a Direct Exchange as provided in Section 11.03, on
the Redemption Date (to be effective immediately prior to the close of business on the Redemption Date) (i) the Redeemed Partner shall transfer and surrender the Redeemed Units to the Partnership and a corresponding number of shares of
Class C Common Stock to the Corporation, in each case free and clear of all liens and encumbrances, (ii) the Partnership shall (x) cancel the Redeemed Units, (y) transfer to the Redeemed Partner the consideration to which the
Redeemed Partner is entitled under Section 11.01(b), and (z) if the Units are certificated, issue to the Redeemed Partner a certificate for a number of Common Units equal to the difference (if any) between the number
of Common Units evidenced by the certificate surrendered by the Redeemed Partner pursuant to clause (i) of this Section 11.01(a) and the Redeemed Units and (iii) the Corporation shall cancel such shares of
Class C Common Stock. 
 (b) In exchange for its Redeemed Units, a Redeemed Partner shall be entitled to receive the Share Settlement
or, at the Partnership’s election, the Cash Settlement from the Partnership. Within one (1) Business Day of delivery of the Redemption Notice, the Partnership shall give written notice (the “Settlement Method
Notice”) to the Redeemed Partner (with a copy to the Corporation) of its intended settlement method; provided that if the Partnership does not timely deliver a Settlement Method Notice, the Partnership shall be deemed to have
elected the Share Settlement method. The Redeemed Partner may retract its Redemption Notice by giving written notice (the “Retraction Notice”) to the Partnership (with a copy to the Corporation) at any time prior to 5:00
p.m., New York City time, on the Business Day after delivery of the Settlement Method Notice. The timely delivery of a Retraction Notice shall terminate all of the Redeemed Partner’s, the Partnership’s and the Corporation’s rights and
obligations under this Section 11.01 arising from the retracted Redemption Notice. 
 (c) Notwithstanding anything
to the contrary in Section 11.01(b), in the event the Partnership elects a Share Settlement in connection with a Redemption, a Redeemed Partner shall be entitled, at any time prior to the consummation of a Redemption, to
revoke its Redemption Notice or delay the consummation of a Redemption if any of the following conditions exists: (i) any registration statement pursuant to which the resale of the Class A Common Stock to be registered for such Redeemed
Partner at or immediately following the consummation of the Redemption shall have ceased to be effective pursuant to any action or inaction by the SEC or no such resale registration statement has yet become effective; (ii) the Corporation shall
have failed to cause any related prospectus to be supplemented by any required prospectus supplement necessary to effect such Redemption; (iii) the Corporation shall have exercised its right to defer, delay or suspend the filing or
effectiveness of a registration statement 

  
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and such deferral, delay or suspension shall affect the ability of such Redeemed Partner to have the resale of its Class A Common Stock registered at or immediately following the
consummation of the Redemption; (iv) the Corporation shall have disclosed to such Redeemed Partner any material non-public information concerning the Corporation, the receipt of which results in such
Redeemed Partner being prohibited or restricted from selling Class A Common Stock at or immediately following the Redemption without disclosure of such information (and the Corporation does not permit disclosure); (v) any stop order relating to
the registration statement pursuant to which the Class A Common Stock was to be registered by such Redeemed Partner at or immediately following the Redemption shall have been issued by the SEC; (vi) there shall have occurred a material
disruption in the securities markets generally or in the market or markets in which the Class A Common Stock is then traded; (vii) there shall be in effect an injunction, a restraining order or a decree of any nature of any Governmental
Entity that restrains or prohibits the Redemption; (viii) the Corporation shall have failed to comply in all material respects with its obligations under the Registration Rights Agreement, and such failure shall have affected the ability of
such Redeemed Partner to consummate the resale of Class A Common Stock to be received upon such redemption pursuant to an effective registration statement; or (ix) the Redemption Date would occur three (3) Business Days or less prior
to, or during, a Black-Out Period; provided further, that in no event shall the Redeemed Partner seeking to delay the consummation of such Redemption and relying on any of the matters contemplated in
clauses (i) through (ix) above have controlled or intentionally materially influenced any facts, circumstances, or Persons in connection therewith (except in the good faith performance of his or her duties as an officer or director of the
Corporation) in order to provide such Redeemed Partner with a basis for such delay or revocation. If a Redeemed Partner delays the consummation of a Redemption pursuant to this Section 11.01(c), (A) the Redemption Date
shall occur on the third (3rd) Business Day following the date on which the conditions giving rise to such delay cease to exist (or such earlier day as the Corporation, the Partnership and such Redeemed Partner may agree in writing) and
(B) notwithstanding anything to the contrary in Section 11.01(b), the Redeemed Partner may retract its Redemption Notice by giving a Retraction Notice to the Partnership (with a copy to the Corporation) at any time
prior to 5:00 p.m., New York City time, on the second (2nd) Business Day following the date on which the conditions giving rise to such delay cease to exist. 

(d) The amount of the Share Settlement or the Cash Settlement that a Redeemed Partner is entitled to receive under
Section 11.01(b) shall not be adjusted on account of any Distributions previously made with respect to the Redeemed Units or dividends previously paid with respect to Class A Common Stock; provided, however,
that if a Redeemed Partner causes the Partnership to redeem Redeemed Units and the Redemption Date occurs subsequent to the record date for any Distribution with respect to the Redeemed Units but prior to payment of such Distribution, the Redeemed
Partner shall be entitled to receive such Distribution with respect to the Redeemed Units on the date that it is made notwithstanding that the Redeemed Partner transferred and surrendered the Redeemed Units to the Partnership prior to such date.

 (e) In the event of a distribution (by dividend or otherwise) by the Corporation to all holders of Class A Common Stock of evidences
of its indebtedness, securities, or other assets (including Equity Securities of the Corporation), but excluding any cash dividend or distribution of any such assets received by the Corporation in respect of its Units, then in exchange for its
Redeemed Units, a Redeemed Partner shall be entitled to receive, in addition to the consideration 

  
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set forth in Section 11.01(b), the amount of such security, securities or other property that the Redeemed Partner would have received if such Redemption Right had been
exercised and the Redemption Date had occurred immediately prior to the record date or effective time of any such transaction, taking into account any adjustment as a result of any subdivision (by any split, distribution or dividend,
reclassification, reorganization, recapitalization or otherwise) or combination (by reverse split, reclassification, recapitalization or otherwise) of such security, securities or other property that occurs after such record date or effective time.
For the avoidance of doubt, subsequent to any such transaction, this Article XI shall apply mutatis mutandis with respect to any such security, securities or other property received by holders of Class A Common Stock in such
transaction. 
 (f) If a Reclassification Event occurs, the General Partner or its successor, as the case may be, shall, as and to the extent
necessary, amend this Agreement in compliance with Section 16.03, and enter into any necessary supplementary or additional agreements, to ensure that, following the effective date of the Reclassification Event: (i) the
rights of holders of Common Units (other than the Corporation) set forth in this Section 11.01 provide that each Common Unit is redeemable for the same amount and same type of property, securities or cash (or combination
thereof) that one share of Class A Common Stock becomes exchangeable for or converted into as a result of the Reclassification Event (taking into account any adjustment as a result of any subdivision (by any split, distribution or dividend,
reclassification, reorganization, recapitalization or otherwise) or combination (by reverse split, reclassification, recapitalization or otherwise) of such security, securities or other property that occurs after the record date or effective time
for such Reclassification Event) and (ii) the Corporation or the successor to the Corporation, as applicable, is obligated to deliver such property, securities or cash upon such redemption. The Corporation shall not consummate or agree to
consummate any Reclassification Event unless the successor Person, if any, becomes obligated to comply with the obligations of the Corporation (in whatever capacity) under this Agreement. 

(g) In connection with a General Partner Change of Control, the Corporation shall have the right to require each Limited Partner (other than
the Corporation) to effect a Redemption of some or all of such Limited Partner’s Common Units and a corresponding number of shares of Class C Common Stock. Any Redemption pursuant to this Section 11.01(g) shall be
effective immediately prior to the consummation of the General Partner Change of Control (and, for the avoidance of doubt, shall not be effective if such General Partner Change of Control is not consummated) (the “Change
of Control Redemption Date”). From and after the Change of Control Redemption Date, (i) the Common Units and shares of Class C Common Stock subject to such Redemption
shall be deemed to be transferred to the Corporation on the Change of Control Redemption Date and (ii) such Limited Partner shall cease to have any rights with respect to the Common Units and shares of Class C Common Stock subject to such
Redemption (other than the right to receive shares of Class A Common Stock pursuant to such Redemption). The Corporation shall provide written notice of an expected General Partner Change of Control to all Partners within the earlier of
(x) five (5) Business Days following the execution of the agreement with respect to such General Partner Change of Control and (y) ten (10) Business Days before the proposed date upon which the contemplated General Partner Change of
Control is to be effected, indicating in such notice such information as may reasonably describe the General Partner Change of Control transaction, subject to applicable law, including the date of execution of such agreement or such proposed
effective date, as applicable, 

  
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the amount and types of consideration to be paid for shares of Class A Common Stock in the General Partner Change of Control, any election with respect to types of consideration that a
holder of shares of Class A Common Stock, as applicable, shall be entitled to make in connection with such General Partner Change of Control, and the number of Common Units and shares of Class C Common Stock held by such Limited Partner
that the Corporation intends to require to be subject to such Redemption. Following delivery of such notice and on or prior to the Change of Control Redemption Date, the Limited Partners shall take all actions reasonably requested by the Corporation
to effect such Redemption, including taking any action and delivering any document required pursuant to Section 11.01(a) to effect a Redemption; provided that (A) no Limited Partner shall be required to make any
representations or warranties in connection with such Redemption other than representations and warranties as to (1) such Limited Partner’s ownership of its Common Units and the corresponding number of shares of Class C Common Stock
to be redeemed free and clear of liens, (2) such Limited Partner’s power and authority to effect such Redemption, and (3) such matters pertaining to compliance with securities laws as the Corporation may reasonably require; and
(B) any indemnification or other obligations assumed or incurred in connection with a Redemption shall be several and not joint and shall be allocated among all Limited Partners participating in such Redemption (collectively, the
“Redeeming Persons”) in the same proportion as the consideration payable to each such Redeeming Person in each case other than with respect to representations made individually by the indemnifying Limited Partner
(e.g., representations as to title or authority of such Limited Partner). 
 Section 11.02 Contribution
of the Corporation. Subject to Section 11.03, in connection with the exercise of a Redeemed Partner’s Redemption Rights under Section 11.01(a), the Corporation shall contribute to the
Partnership the consideration the Redeemed Partner is entitled to receive under Section 11.01(b). Unless the Redeemed Partner has timely delivered a Retraction Notice as provided in
Section 11.01(b) or has delayed a Redemption as provided in Section 11.01(c), or the Corporation has elected to effect a Direct Exchange as provided in Section 11.03, on
the Redemption Date (to be effective immediately prior to the close of business on the Redemption Date) (i) the Corporation shall make its Capital Contribution to the Partnership (in the form of the Share Settlement or the Cash Settlement)
required under this Section 11.02, and (ii) the Partnership shall issue to the Corporation a number of Common Units equal to the number of Redeemed Units surrendered by the Redeemed Partner. Notwithstanding any other
provisions of this Agreement to the contrary, in the event that the Partnership elects a Cash Settlement, the Corporation shall only be obligated to contribute to the Partnership an amount in respect of such Cash Settlement equal to the net proceeds
(after deduction of any underwriters’ discounts or commissions and brokers’ fees or commissions) from the sale by the Corporation of a number of shares of Class A Common Stock equal to the number of Redeemed Units to be redeemed with
such Cash Settlement; provided that the Corporation’s Capital Account shall be increased by an amount equal to any such discounts, commissions and fees relating to such sale of shares of Class A Common Stock in accordance with
Section 6.05. 
 Section 11.03 Exchange Right of the Corporation. 

(a) Notwithstanding anything to the contrary in this Article XI, the Corporation may, in its sole and absolute discretion, elect to
effect on the Redemption Date the exchange of Redeemed Units for the Share Settlement or Cash Settlement, at the Corporation’s option, through a direct exchange of such Redeemed Units and such consideration between the Redeemed Partner and the
Corporation (a “Direct Exchange”). Upon such Direct Exchange pursuant to this Section 11.03, the Corporation shall acquire the Redeemed Units and shall be treated for all purposes of this Agreement
as the owner of such Units. 

  
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 (b) The Corporation may, at any time prior to a Redemption Date, deliver written notice (an
“Exchange Election Notice”) to the Partnership and the Redeemed Partner setting forth its election to exercise its right to consummate a Direct Exchange; provided that such election does not prejudice the ability of
the parties to consummate a Redemption or Direct Exchange on the Redemption Date. An Exchange Election Notice may be revoked by the Corporation at any time; provided that any such revocation does not prejudice the ability of the parties to
consummate a Redemption on the Redemption Date. The right to consummate a Direct Exchange in all events shall be exercisable for all the Redeemed Units that would have otherwise been subject to a Redemption. Except as otherwise provided by this
Section 11.03, a Direct Exchange shall be consummated pursuant to the same timeframe and in the same manner as the relevant Redemption would have been consummated if the Corporation had not delivered an Exchange Election
Notice. 
 Section 11.04 Reservation of Shares of Class A Common Stock; Listing; Certificate
of the Corporation. At all times the Corporation shall reserve and keep available out of its authorized but unissued Class A Common Stock, solely for the purpose of issuance upon a Redemption or Direct Exchange, such number of shares of
Class A Common Stock as shall be issuable upon any such Redemption or Direct Exchange pursuant to Share Settlements; provided that nothing contained herein shall be construed to preclude the Corporation from satisfying its obligations in
respect of any such Redemption or Direct Exchange by delivery of purchased Class A Common Stock (which may or may not be held in the treasury of the Corporation) or the delivery of cash pursuant to a Cash Settlement. The Corporation shall
deliver Class A Common Stock that has been registered under the Securities Act with respect to any Redemption or Direct Exchange to the extent a registration statement is effective and available for such shares. The Corporation shall use its
commercially reasonable efforts to list the Class A Common Stock required to be delivered upon any such Redemption or Direct Exchange prior to such delivery upon each national securities exchange upon which the outstanding shares of
Class A Common Stock are listed at the time of such Redemption or Direct Exchange (it being understood that any such shares may be subject to transfer restrictions under applicable securities Laws). The Corporation covenants that all
Class A Common Stock issued upon a Redemption or Direct Exchange will, upon issuance, be validly issued, fully paid and non-assessable. The provisions of this Article XI shall be interpreted and
applied in a manner consistent with the corresponding provisions of the Corporation’s certificate of incorporation. 

Section 11.05 Effect of Exercise of Redemption or Exchange Right. This Agreement shall continue
notwithstanding the consummation of a Redemption or Direct Exchange and all governance or other rights set forth herein shall be exercised by the remaining Partners and the Redeemed Partner (to the extent of such Redeemed Partner’s remaining
interest in the Partnership). No Redemption or Direct Exchange shall relieve such Redeemed Partner of any prior breach of this Agreement. 

  
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 Section 11.06 Tax Treatment. Unless otherwise required by
applicable Law, the parties hereto acknowledge and agree that a Redemption or a Direct Exchange, as the case may be, shall be treated as a direct exchange between the Corporation and the Redeemed Partner for U.S. federal (and applicable state and
local) income tax purposes. The issuance of shares of Class A Common Stock or other securities upon a Redemption or Direct Exchange shall be made without charge to the Redeemed Partner for any stamp or other similar tax in respect of such
issuance. 
 ARTICLE XII. 

ADMISSION OF LIMITED PARTNERS 

Section 12.01 Substituted Limited Partners. Subject to the provisions of Article X, in
connection with the Permitted Transfer of a Limited Partner Interest hereunder, the transferee shall become a substituted Limited Partner (“Substituted Limited Partner”) on the effective date of such Transfer, which effective
date shall not be earlier than the date of compliance with the conditions to such Transfer, and such admission shall be shown on the books and records of the Partnership. 

Section 12.02 Additional Limited Partners. Subject to the provisions of Article III and
Article X, any Person may be admitted to the Partnership as an additional Limited Partner (any such Person, an “Additional Limited Partner”) only upon furnishing to the General Partner (a) a Joinder (or other
counterpart to this Agreement acceptable to the General Partner) and counterparts of any applicable Other Agreements and (b) such other documents or instruments as may be reasonably necessary or appropriate to effect such Person’s
admission as a Limited Partner (including entering into such documents as the General Partner may deem appropriate in its reasonable discretion). Such admission shall become effective on the date on which the General Partner determines in its
reasonable discretion that such conditions have been satisfied and when any such admission is shown on the books and records of the Partnership. 

ARTICLE XIII. 
 WITHDRAWAL AND
RESIGNATION; TERMINATION OF RIGHTS 
 Section 13.01 Withdrawal and Resignation of Limited Partners.
No Limited Partner shall have the power or right to withdraw or otherwise resign as a Limited Partner from the Partnership prior to the dissolution and winding up of the Partnership pursuant to Article XIV. Any Limited Partner, however,
that attempts to withdraw or otherwise resign as a Limited Partner from the Partnership without the prior written consent of the General Partner upon or following the dissolution and winding up of the Partnership pursuant to Article XIV,
but prior to such Limited Partner receiving the full amount of Distributions from the Partnership to which such Limited Partner is entitled pursuant to Article XIV, shall be liable to the Partnership for all damages (including all lost
profits and special, indirect and consequential damages) directly or indirectly caused by the withdrawal or resignation of such Partner. Upon a Transfer of all of a Limited Partner’s Units in a Transfer permitted by this Agreement, subject to
the provisions of Section 10.06, such Limited Partner shall cease to be a Partner. 

  
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 ARTICLE XIV. 

DISSOLUTION AND LIQUIDATION 

Section 14.01 Dissolution. The Partnership shall not be dissolved by the admission of Additional Limited
Partners or Substituted Limited Partners or the attempted withdrawal or resignation of a Partner. The Partnership shall dissolve, and its affairs shall be wound up, upon: 

(a) the unanimous decision of the General Partner together with all the Partners to dissolve the Partnership; 

(b) a Change of Control Transaction that is not approved by the Majority Partners; 

(c) a dissolution of the Partnership under Section 17-801(4) of the Delaware Act; or 

(d) the entry of a decree of judicial dissolution of the Partnership under Section 17-802 of the
Delaware Act. 
 Except as otherwise set forth in this Article XIV, the Partnership is intended to have perpetual existence. An Event of Withdrawal
shall not cause a dissolution of the Partnership and the Partnership shall continue in existence subject to the terms and conditions of this Agreement. 

Section 14.02 Liquidation and Termination. On dissolution of the Partnership, the General Partner shall act
as liquidator or may appoint one or more Persons as liquidator. The liquidators shall proceed diligently to wind up the affairs of the Partnership and make final distributions as provided herein and in the Delaware Act. The costs of liquidation
shall be borne as a Partnership expense. Until final distribution, the liquidators shall continue to operate the Partnership properties with all of the power and authority of the General Partner. The steps to be accomplished by the liquidators are
as follows: 
 (a) as promptly as possible after dissolution and again after final liquidation, the liquidators shall cause a proper
accounting to be made by a recognized firm of certified public accountants of the Partnership’s assets, liabilities and operations through the last day of the calendar month in which the dissolution occurs or the final liquidation is completed,
as applicable; 
 (b) the liquidators shall cause notice of liquidation to be mailed to each known creditor of and claimant against the
Partnership; 
 (c) the liquidators shall pay, satisfy or discharge from Partnership funds, or otherwise make adequate provision for payment
and discharge thereof (including the establishment of a cash fund for contingent liabilities in such amount and for such term as the liquidators may reasonably determine): first, all expenses incurred in liquidation; and second, all of the debts,
liabilities and obligations of the Partnership; and 
 (d) all remaining assets of the Partnership shall be distributed to the Partners in
accordance with Article IV by the end of the Taxable Year during which the liquidation of the Partnership occurs (or, if later, by ninety (90) days after the date of the liquidation). The distribution of cash and/or property to the
Partners in accordance with the provisions of this 

  
 50 

 
Section 14.02 and Section 14.03 below constitutes a complete return to the Partners of their Capital Contributions, a complete distribution to
the Partners of their interest in the Partnership and all the Partnership’s property and constitutes a compromise to which all Partners have consented within the meaning of the Delaware Act. To the extent that a Partner returns funds to the
Partnership, it has no claim against any other Partner for those funds. 
 Section 14.03 Deferment;
Distribution in Kind. Notwithstanding the provisions of Section 14.02, but subject to the order of priorities set forth therein, if upon dissolution of the Partnership the liquidators determine that an immediate sale of
part or all of the Partnership’s assets would be impractical or would cause undue loss (or would otherwise not be beneficial) to the Partners, the liquidators may, in their sole discretion, defer for a reasonable time the liquidation of any
assets except those necessary to satisfy Partnership liabilities (other than loans to the Partnership by Partners) and reserves. Subject to the order of priorities set forth in Section 14.02, the liquidators may, in their
sole discretion, distribute to the Partners, in lieu of cash, either (a) all or any portion of such remaining Partnership assets in-kind in accordance with the provisions of
Section 14.02(d), (b) as tenants in common and in accordance with the provisions of Section 14.02(d), undivided interests in all or any portion of such Partnership assets or (c) a combination
of the foregoing. Any such Distributions in kind shall be subject to (x) such conditions relating to the disposition and management of such assets as the liquidators deem reasonable and equitable and (y) the terms and conditions of any
agreements governing such assets (or the operation thereof or the holders thereof) at such time. Any Partnership assets distributed in kind will first be written up or down to their Fair Market Value, thus creating Profit or Loss (if any), which
shall be allocated in accordance with Article V. The liquidators shall determine the Fair Market Value of any property distributed in accordance with the valuation procedures set forth in Article XV. 

Section 14.04 Cancellation of Certificate. On completion of the distribution of Partnership assets as
provided herein, the Partnership is terminated (and the Partnership shall not be terminated prior to such time), and the General Partner (or such other Person or Persons as the Delaware Act may require or permit) shall file a certificate of
cancellation with the Secretary of State of Delaware, cancel any other filings made pursuant to this Agreement that are or should be canceled and take such other actions as may be necessary to terminate the Partnership. The Partnership shall be
deemed to continue in existence for all purposes of this Agreement until it is terminated pursuant to this Section 14.04. 

Section 14.05 Reasonable Time for Winding Up. A reasonable time shall be allowed for the orderly winding up
of the business and affairs of the Partnership and the liquidation of its assets pursuant to Sections 14.02 and 14.03 in order to minimize any losses otherwise attendant upon such winding up. 

Section 14.06 Return of Capital. The liquidators shall not be personally liable for the return of Capital
Contributions or any portion thereof to the Partners (it being understood that any such return shall be made solely from Partnership assets). 

  
 51 

 ARTICLE XV. 

VALUATION 

Section 15.01 Determination. “Fair Market Value” of a specific Partnership asset will
mean the amount which the Partnership would receive in an all-cash sale of such asset in an arms-length transaction with a willing unaffiliated third party, with neither party having any compulsion to buy or
sell, consummated on the day immediately preceding the date on which the event occurred which necessitated the determination of the Fair Market Value (and after giving effect to any transfer taxes payable in connection with such sale), as such
amount is determined by the General Partner (or, if pursuant to Section 14.02, the liquidators) in its good faith judgment using all factors, information and data it deems to be pertinent. 

Section 15.02 Dispute Resolution. If any Limited Partner or Limited Partners dispute the accuracy of any
determination of Fair Market Value in accordance with Section 15.01, and the General Partner and such Limited Partner(s) are unable to agree on the determination of the Fair Market Value of any asset of the Partnership, the
General Partner and such Limited Partner(s) shall each select a nationally recognized investment banking firm experienced in valuing securities of closely-held companies such as the Partnership in the Partnership’s industry (the
“Appraisers”), who shall each determine the Fair Market Value of the asset or the Partnership (as applicable) in accordance with the provisions of Section 15.01. The Appraisers shall be instructed to
give written notice of their determination of the Fair Market Value of the asset or the Partnership (as applicable) within thirty (30) days of their appointment as Appraisers. If Fair Market Value as determined by an Appraiser is higher than
Fair Market Value as determined by the other Appraiser by 10% or more, and the General Partner and such Limited Partner(s) do not otherwise agree on a Fair Market Value, the original Appraisers shall designate a third Appraiser meeting the same
criteria used to select the original two, and the Fair Market Value shall be the average of the Fair Market Values determined by all three Appraisers, unless the General Partner and such Limited Partner(s) otherwise agree on a Fair Market Value. If
Fair Market Value as determined by an Appraiser is within 10% of the Fair Market Value as determined by the other Appraiser (but not identical), and the General Partner and such Limited Partner(s) do not otherwise agree on a Fair Market Value, the
General Partner shall select the Fair Market Value of one of the Appraisers. The fees and expenses of the Appraisers shall be borne by the Partnership. 

ARTICLE XVI. 
 GENERAL PROVISIONS

 Section 16.01 Power of Attorney. 

(a) Each Limited Partner who is an individual hereby constitutes and appoints the General Partner (or the liquidator, if applicable) with full
power of substitution, as his or her true and lawful agent and attorney-in-fact, with full power and authority in his, her or its name, place and stead, to: 

(i) execute, swear to, acknowledge, deliver, file and record in the appropriate public offices (A) this Agreement, all
certificates and other instruments and all amendments thereof which the General Partner deems appropriate or necessary to form, 

  
 52 

 
qualify, or continue the qualification of, the Partnership as a limited partnership in the State of Delaware and in all other jurisdictions in which the Partnership may conduct business or own
property; (B) all instruments which the General Partner deems appropriate or necessary to reflect any amendment, change, modification or restatement of this Agreement in accordance with its terms; (C) all conveyances and other instruments
or documents which the General Partner deems appropriate or necessary to reflect the dissolution and liquidation of the Partnership pursuant to the terms of this Agreement, including a certificate of cancellation; and (D) all instruments
relating to the admission, withdrawal or substitution of any Partner pursuant to Article XII or Article XIII; and 

(ii) sign, execute, swear to and acknowledge all ballots, consents, approvals, waivers, certificates and other instruments
appropriate or necessary, in the reasonable judgment of the General Partner, to evidence, confirm or ratify any vote, consent, approval, agreement or other action which is made or given by the Partners hereunder or is consistent with the terms of
this Agreement, in the reasonable judgment of the General Partner, to effectuate the terms of this Agreement. 
 (b) The foregoing power of
attorney is irrevocable and coupled with an interest, and shall survive the death, disability, incapacity, dissolution, bankruptcy, insolvency or termination of any Limited Partner who is an individual and the transfer of all or any portion of his,
her or its Limited Partner Interest and shall extend to such Limited Partner’s heirs, successors, assigns and personal representatives. 

Section 16.02 Confidentiality. Each of the Partners agree to hold the Partnership’s Confidential
Information in confidence and may not use such information except in furtherance of the business of the Partnership or as otherwise authorized separately in writing by the General Partner. “Confidential Information” as used
herein includes, but is not limited to, ideas, financial product structuring, business strategies, innovations and materials, all aspects of the Partnership’s business plan, proposed operation and products, corporate structure, financial and
organizational information, analyses, proposed partners, software code and system and product designs, employees and their identities, equity ownership, the methods and means by which the Partnership plans to conduct its business, all trade secrets,
trademarks, tradenames and all intellectual property associated with the Partnership’s business, in each case obtained by a Partner from the Partnership or any of its Affiliates or representatives. With respect to any Partner, Confidential
Information does not include information or material that: (a) is rightfully in the possession of such Partner at the time of disclosure by the Partnership; (b) before or after it has been disclosed to such Partner by the Partnership,
becomes part of public knowledge, not as a result of any action or inaction of such Partner in violation of this Agreement; (c) is approved for release by written authorization of the Chief Executive Officer of the Partnership or of the
Corporation; (d) is disclosed to such Partner or its representatives by a third party not, to the knowledge of such Partner, in violation of any obligation of confidentiality owed to the Partnership with respect to such information; or
(e) is or becomes independently developed by such Partner or its representatives without use of or reference to the Confidential Information. 

  
 53 

 Section 16.03 Amendments. This Agreement may be amended or
modified solely by the General Partner. Notwithstanding the foregoing, no amendment or modification (a) to this Section 16.03 may be made without the prior written consent of each of the Partners, (b) that
modifies the limited liability of any Partner, or increases the liabilities or obligations of any Partner, in each case, may be made without the consent of each such affected Partner, (c) that materially alters or changes any rights,
preferences or privileges of any Limited Partner Interests in a manner that is different or prejudicial relative to any other Limited Partner Interests, may be made without the approval of a majority in interest of the Partners holding the Limited
Partner Interests affected in such a different or prejudicial manner (excluding any such Limited Partner Interests held by the General Partner or any affiliates controlled by the General Partner), (d) that materially alters or changes any rights,
preferences or privileges of a holder of any class of Limited Partner Interests in a manner that is different or prejudicial relative to any other holder of the same class of Limited Partner Interests, may be made without the approval of the holder
of Limited Partner Interests affected in such a different or prejudicial manner and (e) to any of the terms and conditions of this Agreement which terms and conditions expressly require the approval or action of certain Persons may be made
without obtaining the consent of the requisite number or specified percentage of such Persons who are entitled to approve or take action on such matter; provided, that the General Partner, acting alone, may amend this Agreement to reflect the
issuance of additional Units or Equity Securities in accordance with Section 3.04. 

Section 16.04 Title to Partnership Assets. Partnership assets shall be deemed to be owned by the Partnership
as an entity, and no Partner, individually or collectively, shall have any ownership interest in such Partnership assets or any portion thereof. The Partnership shall hold title to all of its property in the name of the Partnership and not in the
name of any Partner. All Partnership assets shall be recorded as the property of the Partnership on its books and records, irrespective of the name in which legal title to such Partnership assets is held. The Partnership’s credit and assets
shall be used solely for the benefit of the Partnership, and no asset of the Partnership shall be transferred or encumbered for, or in payment of, any individual obligation of any Partner. 

Section 16.05 Addresses and Notices. Any notice provided for in this Agreement will be in writing and will be
either personally delivered, or received by certified mail, return receipt requested, or sent by reputable overnight courier service (charges prepaid) to the Partnership at the address set forth below and to any other recipient and to any Partner at
such address as indicated by the Partnership’s records, or at such address or to the attention of such other person as the recipient party has specified by prior written notice to the sending party. Notices will be deemed to have been given
hereunder when delivered personally or sent by telecopier (provided confirmation of transmission is received), three (3) days after deposit in the U.S. mail and one (1) day after deposit with a reputable overnight courier service.
The Partnership’s address is: 
 to the Partnership: 

SRII Opco, LP 
 15021 Katy
Freeway, Suite 400 
 Houston, Texas 77094 

Attn: Jim Hackett 
 E-mail: JHackett@riverstonellc.com 

  
 54 

 with a copy (which copy shall not constitute notice) to: 

Latham & Watkins LLP 

811 Main Street, Suite 3700 

Houston, Texas 77002 
 Attn:
Nicholas Luongo 
 E-mail: Nick.Luongo@lw.com 

Section 16.06 Binding Effect; Intended Beneficiaries. This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives and permitted assigns. 

Section 16.07 Creditors. None of the provisions of this Agreement shall be for the benefit of or enforceable
by any creditors of the Partnership or any of its Affiliates, and no creditor who makes a loan to the Partnership or any of its Affiliates may have or acquire (except pursuant to the terms of a separate agreement executed by the Partnership in favor
of such creditor) at any time as a result of making the loan any direct or indirect interest in Partnership Profits, Losses, Distributions, capital or property other than as a secured creditor. 

Section 16.08 Waiver. No failure by any party to insist upon the strict performance of any covenant, duty,
agreement or condition of this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of any such breach or any other covenant, duty, agreement or condition. 

Section 16.09 Counterparts. This Agreement may be executed in separate counterparts, each of which will be an
original and all of which together shall constitute one and the same agreement binding on all the parties hereto. 

Section 16.10 Applicable Law. This Agreement shall be governed by, and construed in accordance with, the laws
of the State of Delaware, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the
State of Delaware. Any dispute relating hereto shall be heard in the state or federal courts of the State of Delaware, and the parties agree to jurisdiction and venue therein. 

Section 16.11 Severability. Whenever possible, each provision of this Agreement will be interpreted in such
manner as to be effective and valid under applicable Law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable Law or rule in any jurisdiction, such invalidity, illegality or
unenforceability will not affect any other provision or the effectiveness or validity of any provision in any other jurisdiction, and this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or
unenforceable provision had never been contained herein. 
 Section 16.12 Further Action. The parties shall
execute and deliver all documents, provide all information and take or refrain from taking such actions as may be reasonably necessary or appropriate to achieve the purposes of this Agreement. 

  
 55 

 Section 16.13 Delivery by Electronic Transmission. This
Agreement and any signed agreement or instrument entered into in connection with this Agreement or contemplated hereby, and any amendments hereto or thereto, to the extent signed and delivered by means of an electronic transmission, including by a
facsimile machine or via email, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person.
At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto shall re-execute original forms thereof and deliver them to all other parties. No party hereto or
to any such agreement or instrument shall raise the use of electronic transmission by a facsimile machine or via email to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through such
electronic transmission as a defense to the formation of a contract and each such party forever waives any such defense. 

Section 16.14 Right of Offset. Whenever the Partnership is to pay any sum (other than pursuant to Article
IV) to any Partner, any amounts that such Partner owes to the Partnership which are not the subject of a good faith dispute may be deducted from that sum before payment. For the avoidance of doubt, the distribution of Units to the Corporation
shall not be subject to this Section 16.14. 
 Section 16.15 Effectiveness. This
Agreement shall be effective immediately upon the Contribution Closing (the “Effective Time”). The Initial Limited Partnership Agreement shall govern the rights and obligations of the Partnership and the other parties to this
Agreement in their capacity as Partners prior to the Effective Time. 
 Section 16.16 Entire Agreement.
This Agreement and those documents expressly referred to herein (including the Registration Rights Agreement and the Contribution Agreements) embody the complete agreement and understanding among the parties and supersede and preempt any prior
understandings, agreements or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way. For the avoidance of doubt, the Initial Limited Partnership Agreement is superseded by this
Agreement as of the Effective Time and shall be of no further force and effect thereafter. 
 Section 16.17
Remedies. Each Partner shall have all rights and remedies set forth in this Agreement and all rights and remedies which such Person has been granted at any time under any other agreement or contract and all of the rights which such Person has
under any Law. Any Person having any rights under any provision of this Agreement or any other agreements contemplated hereby shall be entitled to enforce such rights specifically (without posting a bond or other security), to recover damages by
reason of any breach of any provision of this Agreement and to exercise all other rights granted by Law. 

Section 16.18 Descriptive Headings; Interpretation. The descriptive headings of this Agreement are inserted
for convenience only and do not constitute a substantive part of this Agreement. Whenever required by the context, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of
nouns, pronouns and verbs shall include the plural and vice versa. The use of the word “including” in this Agreement shall be by way of example rather than by limitation. Reference to any agreement, document or instrument means such
agreement, document or instrument as amended or otherwise modified from time to time in accordance with the terms thereof, and if applicable hereof. Without limiting the generality of the immediately preceding sentence, no amendment or other
modification to any agreement, document or instrument that requires the consent of any 

  
 56 

 
Person pursuant to the terms of this Agreement or any other agreement will be given effect hereunder unless such Person has consented in writing to such amendment or modification. Wherever
required by the context, references to a Fiscal Year shall refer to a portion thereof. The use of the words “or,” “either” and “any” shall not be exclusive. The parties hereto have participated jointly in the
negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise
favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. Wherever a conflict exists between this Agreement and any other agreement, this Agreement shall control but solely to the extent of such
conflict. 
 [Signature Pages Follow] 

  
 57 

 IN WITNESS WHEREOF, the undersigned have executed or caused to be executed on their behalf this
Amended and Restated Agreement of Limited Partnership as of the date first written above. 
  

			
	GENERAL PARTNER:
	
	         SRII OPCO GP, LLC
		
	         By:	 	 /s/ Stephen S. Coats

	         Name:	 	Stephen S. Coats
	         Title:	 	Secretary

 [Signature Page to Amended and Restated Agreement of Limited Partnership] 

 
			
	LIMITED PARTNERS:
	
	         ALTA MESA RESOURCES, INC.
		
	         By:	 	 /s/ Harlan H. Chappelle

	         Name:	 	Harlan H. Chappelle
	         Title:	 	Chief Executive Officer
	
	         HIGH MESA HOLDINGS, L.P.
	
	          By: High Mesa Holdings GP, LLC, its

         general partner

		
	         By:	 	 /s/ Harlan H. Chappelle

	         Name:	 	Harlan H. Chappelle
	         Title:	 	President and Chief Executive Officer
	
	         KFM HOLDCO, LLC
		
	         By:	 	 /s/ Michael S. Christopher

	         Name:	 	Michael S. Christopher
	         Title:	 	Secretary and Chief Financial Officer
	
	         RIVERSTONE VI ALTA MESA          HOLDINGS, L.P.
		
	         By:	 	 /s/ Peter Haskopoulos

	         Name:	 	Peter Haskopoulos
	         Title:	 	Managing Director

 [Signature Page to Amended and Restated Agreement of Limited Partnership] 

 SCHEDULE 1* 

SCHEDULE OF LIMITED PARTNERS 
  

																									
	 Partner
	  	Common
Units	 	  	Percentage
Interest	 	 	Contribution
Closing Capital
Account Balance	 	  	Additional
Cash Capital
Contributions	 	  	Additional
Non-Cash
Capital
Contributions	 	  	Capital Accounts	 
	 Alta Mesa Resources, Inc.
	  	 	169,371,730	 	  	 	44.25	% 	 	$	1,406,484,518	 	  	 	—  	 	  	 	—  	 	  	$	1,406,484,518	 
	 High Mesa Holdings, L.P.
	  	 	138,402,398	 	  	 	36.16	% 	 	$	1,149,311,222	 	  	 	—  	 	  	 	—  	 	  	$	1,149,311,222	 
	 KFM Holdco, LLC
	  	 	55,000,000	 	  	 	14.37	% 	 	$	456,727,038	 	  	 	—  	 	  	 	—  	 	  	$	456,727,038	 
	 Riverstone VI Alta Mesa Holdings, L.P.
	  	 	20,000,000	 	  	 	5.23	% 	 	$	166,082,559	 	  	 	—  	 	  	 	—  	 	  	$	166,082,559	 

  

	*	This Schedule of Limited Partners shall be updated from time to time to reflect any adjustment with respect to any subdivision (by Unit split or otherwise) or any combination (by reverse Unit split or otherwise) of any
outstanding Common Units, or to reflect any additional issuances of Common Units pursuant to this Agreement. 

 Exhibit A 

FORM OF JOINDER AGREEMENT 

This JOINDER AGREEMENT, dated as of
                    , 20         (this “Joinder”), is delivered pursuant to that certain
Amended and Restated Agreement of Limited Partnership of SRII Opco, LP (the “Partnership”), dated as of [            ], 2017 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time, the “Partnership Agreement”). Capitalized terms used but not otherwise defined herein have the respective meanings set forth in the Partnership Agreement. 

 

	 	1.	Joinder to the Partnership Agreement. Upon the execution of this Joinder by the undersigned and delivery hereof to the General Partner, the undersigned hereby is and hereafter will be a Limited Partner under the
Partnership Agreement and a party thereto, with all the rights, privileges and responsibilities of a Limited Partner thereunder. The undersigned hereby agrees that it shall comply with and be fully bound by the terms of the Partnership Agreement as
if it had been a signatory thereto as of the date thereof. 

  

	 	2.	Incorporation by Reference. All terms and conditions of the Partnership Agreement are hereby incorporated by reference in this Joinder as if set forth herein in full. 

 

	 	3.	Address. All notices under the Partnership Agreement to the undersigned shall be direct to: 

[Name] 
 [Address] 

[City, State, Zip Code] 
 Attn:

 Facsimile: 
 E-mail: 
 IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Joinder as of the day
and year first above written. 
  

			
	[NAME OF NEW PARTNER]

 
			
		
	By:	 	  

 
			
	Name:	 	
	Title:	 	

			
	 Acknowledged and agreed
 as of the
date first set forth above:

	
	SRII OPCO GP, LLC

			
		
	By:	 	  

			
	Name:	 	
	Title:EX-10.5

 Exhibit 10.5 

Execution Version 

TAX RECEIVABLE AGREEMENT 

This TAX RECEIVABLE AGREEMENT (as amended from time to time, this “Agreement”), dated as of February 9, 2018, is hereby
entered into by and among Alta Mesa Resources, Inc. (f/k/a Silver Run Acquisition Corporation II), a Delaware corporation (the “Corporation”), SRII Opco, LP, a Delaware limited partnership (“Holdings”), Riverstone
VI Alta Mesa Holdings, L.P., a Delaware partnership (“Riverstone”), and High Mesa Holdings LP, a Delaware limited partnership (“HMH” and with Riverstone and HMH as the “Initial Limited Partners”).

 RECITALS 
 WHEREAS,
the Initial Limited Partners and the Corporation own partnership interests in Holdings (the “Interests”), which is treated as a partnership for U.S. federal income Tax purposes; 

WHEREAS, in connection with the Corporation’s initial contribution to Holdings, the Corporation shall issue Class C common stock of
the Corporation, par value $0.0001 per share (“Class C Shares ”) to the Initial Limited Partners; 

WHEREAS, pursuant to the Partnership Agreement, each Initial Limited Partner will have the right, in its sole discretion, from time to time to
require Holdings to redeem (a “Redemption”) all or a portion of its Interests (together with an equal number of Class C Shares, with one Interest and one Class C Share a “Unit”) for Class A common
stock of the Corporation, par value $0.0001 per share (“Class A Shares”) or, under certain circumstances, cash; provided that, at the election of the Corporation in its sole discretion, the Corporation may
effect a direct exchange (a “Direct Exchange”) of such Initial Limited Partner’s Units for Class A Shares or, under certain circumstances, cash; 

WHEREAS, Holdings and each of its direct and indirect subsidiaries treated as a partnership for U.S. federal income Tax purposes will have in
effect an election under Section 754 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), for each Taxable Year (as defined below) in which an Exchange occurs, which election is intended to result in an
adjustment to the Tax basis of the assets owned by Holdings and such subsidiaries (solely with respect to the Corporation) at the time (such time, the “Exchange Date”) of an Exchange; 

WHEREAS, the income, gain, loss, expense and other Tax (as defined below) items of the Corporation, as a Limited Partner in Holdings (and in
respect of each of Holdings’ direct and indirect subsidiaries treated as disregarded entities or partnerships for U.S. federal income Tax purposes), may be affected by (i) the Basis Adjustments, (ii) the Imputed Interest and
(iii) the Interest Amounts, each as defined below; and 
 WHEREAS, the parties to this Agreement desire to make certain arrangements
with respect to the actual or deemed effect of the Basis Adjustments, the Imputed Interest and the Interest Amounts on the liability for Taxes of the Corporation. 

NOW, THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be legally
bound hereby, the parties hereto agree as follows: 

 ARTICLE I. 

DEFINITIONS 

Definitions. As used in this Agreement, the terms set forth in this ARTICLE I shall have the following meanings (such meanings to
be equally applicable to both the singular and plural forms of the terms defined). 
 “Affiliate” means, with respect to
any Person, any other Person that directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control with, such first Person. 

“Agreed Rate” means LIBOR plus 100 basis points. 

“Agreement” is defined in the preamble of this Agreement. 

“Amended Schedule” is defined in Section 2.4(b) of this Agreement. 

“Available Cash” means all cash and cash equivalents of the Corporation on hand, less the amount of cash reserves reasonably
established in good faith by the Corporation to (i) provide for the proper conduct of the business of the Corporation, (ii) comply with applicable law or any Senior Obligations, or (iii) make payments under this Agreement;
provided, however, that on any Payment Date the Corporation shall be deemed to have Available Cash in amount no less than the remainder of (x) the aggregate amount of distributions received by the Corporation from Holdings pursuant to
Section 4.01 of the Partnership Agreement since the first Exchange Date minus (y) the sum of (A) the aggregate amount of all payments made by the Corporation in respect of Taxes (including payments under any Tax sharing agreement to
any member of a Consolidated Group which includes the Corporation) or under this Agreement since the first Exchange Date plus (B) the amount of Tax distributions received by the Corporation pursuant to Section 4.01 of the Partnership
Agreement during the quarter for which Available Cash is then being determined or during the immediately preceding quarter, but only to the extent such Tax distributions are reasonably expected to be utilized by the Corporation after the date of
determination to pay Tax liabilities of the Corporation (including payments under any Tax sharing agreement to any member of a Consolidated Group which includes the Corporation) for such quarter or the immediately succeeding quarter. 

“Basis Adjustment” means any adjustment to the Tax basis of an Exchange Reference Asset as a result of an Exchange, as
calculated under Section 2.1 of this Agreement, including, but not limited to: (i) under the principles of Sections 732 and 1012 of the Code (including in a situation where, as a result of one or more Exchanges, Holdings becomes an
entity that is disregarded as separate from its owner for Tax purposes) or (ii) Sections 743(b) and 754 of the Code (including in situations where, following an Exchange, Holdings remains in existence as an entity for Tax purposes) and, in
each case, comparable sections of state and local Tax laws. Notwithstanding any other provision of this Agreement, the amount of any Basis Adjustment resulting from an Exchange of one or more Units shall be determined without regard to any Pre-Exchange Transfer of such Units and as if any such Pre-Exchange Transfer had not occurred. 

“Beneficial Owner” of a security is a Person who directly or indirectly, through any contract, arrangement, understanding,
relationship or otherwise, has or shares (i) voting power, which includes the power to vote, or to direct the voting of, such security, and/or (ii) investment power, which includes the power to dispose of, or to direct the disposition of,
such security. The terms “Beneficially Own” and “Beneficial Ownership” shall have correlative meanings. 

  
 2 

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

“Business Day” means Monday through Friday of each week, except that a legal holiday recognized as such by the government of
the United States of America or the State of Texas shall not be regarded as a Business Day. 
 “Class A
Shares” is defined in the Recitals of this Agreement. 
 “Code” is defined in the Recitals of this Agreement. 

“Consolidated Group” means any group of corporations filing consolidated, combined or unitary Tax returns of which the
Corporation is a member. 
 “Control” means the possession, direct or indirect, of the power to direct or cause the
direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 

“Corporation” is defined in the Preamble of this Agreement. 

“Corporation Return” means the U.S. federal, state and/or local Tax Return, as applicable, of the Corporation or any
Consolidated Group filed with respect to Taxes of any Taxable Year. 
 “Cumulative Net Realized Tax Benefit” for a Taxable
Year means the cumulative amount of Realized Tax Benefits of the Corporation, up to and including such Taxable Year, net of the cumulative amount of Realized Tax Detriments for the same period. The Realized Tax Benefit and Realized Tax Detriment for
each Taxable Year shall be determined based on the most recent Tax Benefit Schedule or Amended Schedule, if any, in existence at the time of such determination. 

“Default Rate” means LIBOR plus 500 basis points. 

“Determination” shall have the meaning ascribed to such term in Section 1313(a) of the Code or similar provision of
state and local Tax law, as applicable, or any other event (including the execution of an IRS Form 870-AD) that finally and conclusively establishes the amount of any liability for Tax. 

“Direct Exchange” is defined in the preamble of this Agreement. 

“Dispute” is defined in Section 7.8 of this Agreement. 

“Early Termination Date” means the date of an Early Termination Notice for purposes of determining the Early Termination
Payment. 
 “Early Termination Notice” is defined in Section 4.2 of this Agreement. 

“Early Termination Payment” is defined in Section 4.3(b) of this Agreement. 

“Early Termination Rate” means eighteen percent (18%). 

“Early Termination Schedule” is defined in Section 4.2 of this Agreement. 

“Exchange” means a Redemption or a Direct Exchange. 

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

  
 3 

 “Exchange Basis Schedule” is defined in Section 2.2 of this Agreement. 

“Exchange Date” is defined in the Recitals of this Agreement. 

“Exchange Payment” is defined in Section 5.1 of this Agreement. 

“Exchange Reference Asset” means an asset that is held by Holdings, or by any of its direct or indirect subsidiaries treated
as a partnership or disregarded entity for U.S. federal Tax purposes, at the time of an Exchange, other than any Excluded Assets. An Exchange Reference Asset also includes, without duplication, any asset the Tax basis of which is determined, in
whole or in part, by reference to the Tax basis of an asset that is described in the preceding sentence, including any asset that is “substituted basis property” under Section 7701(a)(42) of the Code with respect to an Exchange
Reference Asset. The Parties shall reasonably cooperate to allocate any jointly generated assets to the Exchange Reference Assets and the Excluded Assets. 

“Exchange Right” is defined in the Preamble of this Agreement. 

“Exchanging Partner” means a Limited Partner that has made an Exchange, but shall not include KFM Holdco, LLC, a Delaware
limited liability company, to the extent that KFM Holdco obtained its Interests or Units pursuant to its contribution of KFM Midstream to Holdings. 

“Excluded Assets” means (i) any asset (A) held by Kingfisher Midstream, LLC (or its successors or assigns), or any
of its direct or indirect subsidiaries, as of the date of this Agreement, or (B) otherwise used in the Midstream Business as conducted by Kingfisher Midstream, LLC; and (ii) any asset treated as held, directly or indirectly, by a
corporation that is a direct or indirect subsidiary of Holdings. 
 “Expert” is defined in Section 7.9 of this
Agreement. 
 “Holdings” is defined in the Recitals of this Agreement. 

“Hydrocarbons” means oil, gas and other hydrocarbons produced or processed in association therewith, or any combination
thereof, and any minerals produced in association therewith, including all crude oil, gas, casinghead gas, condensate, natural gas liquids, and other gaseous or liquid hydrocarbons (including ethane, propane, iso-butane, nor-butane and gasoline) of any type or composition. 
 “Hypothetical Tax Liability”
means, with respect to any Taxable Year, the liability for Taxes of, without duplication, (a) any Consolidated Group and the Corporation and (b) Holdings, but only with respect to Taxes imposed on Holdings and allocable to the Consolidated
Group or the Corporation, in each case using the same methods, elections, conventions and similar practices used on the relevant Corporation Tax Return, but (i) calculating depreciation, amortization, depletion or other similar deductions or
otherwise calculating any items of income, gain or loss using the Non-Stepped Up Tax Basis of each Exchange Reference Asset (as reflected on the applicable Exchange Basis Schedule including amendments thereto
for the Taxable Year), and (ii) excluding any deduction attributable to Imputed Interest or the Interest Amount for the Taxable Year. For the avoidance of doubt, Hypothetical Tax Liability shall be determined without taking into account the
carryover or carryback of any Tax item (or portions thereof) that is attributable to the Basis Adjustment, Imputed Interest, or Interest Amount, as applicable. 

“Imputed Interest” shall mean any interest imputed under Section 1272, 1274 or 483 or other provision of the Code and
any similar provision of state and local Tax law with respect to the Corporation’s payment obligations under this Agreement. 

  
 4 

 “Initial Limited Partners” is defined in the preamble of this Agreement. 

“Interest” is defined in the Recitals of this Agreement. 

“Interest Amount” is defined in Section 3.1(b) of this Agreement. 

“IRS” means the U.S. Internal Revenue Service. 

“LIBOR” means for each month (or portion thereof) during any period, an interest rate per annum equal to the rate per annum
reported, on the date two days prior to the first day of such month, on the Telerate Page 3750 (or if such screen shall cease to be publicly available, as reported on Reuters Screen page “LIBOR07” or by any other publicly available
source of such market rate) for London interbank offered rates for United States dollar deposits for such month (or portion thereof), but shall in any case not be below zero. 

“Limited Partners” means the Initial Limited Partners, and each other Person who from time to time executes a Joinder
Agreement in the form attached hereto as Exhibit A (and which for the avoidance of doubt may include Exchanging Partners, as applicable). 

“Market Value” shall mean the Common Unit Redemption Price, as defined in the Partnership Agreement, determined as of an
Early Termination Date. 
 “Material Objection Notice” has the meaning set forth in Section 4.2. 

“Midstream Business” means the gathering, marketing, treating, processing, storage, selling, transporting, transmission,
compression, fractionation, dehydration, stabilization or treatment of Hydrocarbons, carbon dioxide or water. 
 “Net Tax
Benefit” is defined in Section 3.1(b) of this Agreement. 
 “Non-Stepped Up
Tax Basis” means, with respect to any Exchange Reference Asset at any time, the Tax basis that such Exchange Reference Asset would have had at such time if no Basis Adjustment had been made. 

“Objection Notice” has the meaning set forth in Section 2.4(a). 

“Partnership Agreement” means the Amended and Restated Agreement of Limited Partnership of Holdings, dated on or about the
date hereof, as such agreement may be amended from time to time. 
 “Payment Date” means any date on which a payment is
required to be made pursuant to this Agreement. 
 “Person” means any individual, corporation, firm, partnership, joint
venture, limited liability company, estate, trust, business association, organization, governmental entity or other entity. 
 “Pre-Exchange Transfer” means any transfer (including upon the death of a Limited Partner) or distribution of one or more Units that occurs prior to an Exchange of such Units. 

“Realized Tax Benefit” means, for a Taxable Year, the net excess, if any, of the Hypothetical Tax Liability over the
“actual” liability for Taxes, for such Taxable Year, of (a) any Consolidated Group and the Corporation and (b) Holdings, but only with respect to Taxes imposed on Holdings and allocable to the Consolidated Group or the
Corporation, such “actual” liability to be computed in accordance with 

  
 5 

 
Section 2.1 of this Agreement. If all or a portion of the actual liability for Taxes of any Consolidated Group or the Corporation (or Holdings, but only with respect to Taxes imposed on
Holdings and allocable to the Consolidated Group or the Corporation) for such Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Benefit unless
and until there has been a Determination. 
 “Realized Tax Detriment” means, for a Taxable Year, the net excess, if any, of
the “actual” liability for Taxes, for such Taxable Year, of (a) any Consolidated Group and the Corporation and (b) Holdings, but only with respect to Taxes imposed on Holdings and allocable to the Consolidated Group or the
Corporation, such “actual” liability to be computed in accordance with Section 2.1 of this Agreement, over the Hypothetical Tax Liability for such Taxable Year. If all or a portion of the actual liability for Taxes of the Consolidated
Group or the Corporation (or Holdings, but only with respect to Taxes imposed on Holdings and allocable to the Consolidated Group or the Corporation) for such Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year,
such liability shall not be included in determining the Realized Tax Detriment unless and until there has been a Determination. 

“Reconciliation Dispute” has the meaning set forth in Section 7.9. 

“Reconciliation Procedures” shall mean those procedures set forth in Section 7.9 of this Agreement. 

“Riverstone” is defined in the preamble of this Agreement. 

“Schedule” means any Exchange Basis Schedule or Tax Benefit Schedule and the Early Termination Schedule. 

“Senior Obligations” is defined in Section 5.1 of this Agreement. 

“Subsidiaries” means, with respect to any Person, as of any date of determination, any other Person as to which such first
Person, owns, directly or indirectly, or otherwise controls more than 50% of the voting shares or other similar interests or the sole general partner interest or managing member or similar interest of such other Person. 

“Tax Benefit Payment” is defined in Section 3.1(b) of this Agreement. 

“Tax Benefit Schedule” is defined in Section 2.3 of this Agreement. 

“Tax Return” means any return, declaration, report or similar statement required to be filed with respect to Taxes (including
any attached schedules), including, without limitation, any information return, claim for refund, amended return and declaration of estimated Tax. 

“Taxable Year” means a Taxable year of the Corporation as defined in Section 441(b) of the Code or comparable section of
state and local Tax law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is prepared), ending on or after the date hereof. 

“Taxes” means any and all U.S. federal, state and local Taxes, assessments or similar charges that are based on or measured
with respect to net income or profits, whether as an exclusive or on an alternative basis, and any interest, penalties or additions related thereto. 

  
 6 

 “Taxing Authority” shall mean any domestic, foreign, federal, national, state,
county or municipal or other local government, any subdivision, agency, commission or authority thereof, or any quasi-governmental body exercising any taxing authority or any other authority exercising Tax regulatory authority. 

“Treasury Regulations” means the final, temporary and proposed regulations under the Code promulgated from time to time
(including corresponding provisions and succeeding provisions) as in effect for the relevant Taxable period. 
 “Units” is
defined in the Recitals of this Agreement. 
 “Valuation Assumptions” means, in respect of a Limited Partner, as of an
Early Termination Date, the assumptions that (1) in each Taxable Year ending on or after such Early Termination Date, each Consolidated Group and the Corporation will have Taxable income sufficient to fully use the deductions and/or losses
(including, as applicable and for the avoidance of doubt, any deductions taken as a result of applying the Valuation Assumptions) arising from any Basis Adjustment, Imputed Interest or Interest Amount during such Taxable Year or future Taxable Years
(including, as applicable and for the avoidance of doubt, Basis Adjustments, Imputed Interest and Interest Amounts that would result from future Tax Benefit Payments that would be paid in accordance with the Valuation Assumptions) in which such
deductions would become available, (2) the U.S. federal income Tax rates and state and local income Tax rates that will be in effect for each such Taxable Year will be those specified for each such Taxable Year by the Code and other law as in
effect on the Early Termination Date, (3) any loss or credit carryovers relating to or generated by any Basis Adjustment, Imputed Interest or Interest Amount in respect of such Limited Partner and available as of the date of the Early
Termination Schedule will be used by the Corporation or such Consolidated Group on a pro rata basis from the date of the Early Termination Schedule through the scheduled expiration date of such carryovers, (4) any
non-amortizable assets will be disposed of (A) in the case of short-term investments, after 12 months and (B) in the case of all other non-amortizable assets,
on the fifteenth anniversary of the earlier of the Basis Adjustment and the Early Termination Date, (5) if, at the Early Termination Date, there are Units that have not been Exchanged, then each such Unit shall be deemed to be Exchanged for the
Market Value of the Class A Shares and the amount of cash that would be transferred if the Exchange occurred on the Early Termination Date, (6) for purposes of calculating depletion deductions and resulting reductions in adjusted Tax basis
with respect to depletable properties held by Holdings and its Subsidiaries that are treated as disregarded entities or partnerships for U.S. federal income Tax purposes, (A) the remaining recoverable reserves with respect to each such property
are equal to the recoverable reserves estimated in the most recent reserve report relating to such property (or, if there is no reserve report with respect to such property, the most recent estimate of recoverable reserves with respect to such
property which is reflected in the financial records of Holdings) and (B) Holdings will recover the remaining recoverable reserves with respect to each such depletable property within the time estimated and at the rate reflected in the most
recent reserve reports relating to such property (or, if there is no reserve report with respect to such property, the most recent estimate of the rate of recovery of recoverable reserves with respect to such property which is reflected in the
financial records of Holdings or as otherwise reasonably determined by Holdings), (7) all taxable income of the Corporation will be subject to the maximum applicable tax rates throughout the relevant period and (8) any payment obligations
pursuant to this Agreement will be satisfied on the date that any Tax Return to which such payment obligation relates is required to be filed, excluding any extensions. 

  
 7 

 ARTICLE II. 

DETERMINATION OF CUMULATIVE REALIZED TAX BENEFIT 

2.1 Applicable Calculation Principles. Subject to Section 3.3(a), Section 4.1(c) and Section 4.3, the Realized Tax
Benefit or Realized Tax Detriment is intended to measure the decrease or increase in the actual liability for Taxes of, without duplication, each Consolidated Group and the Corporation (and Holdings, but only with respect to Taxes imposed on
Holdings and allocable to the Consolidated Group or the Corporation) for a Taxable Year attributable to Basis Adjustments, Imputed Interest and Interest Amounts, as applicable, determined using a “with and without” methodology. For the
avoidance of doubt, the actual liability for Taxes will take into account the deduction of the portion of the Tax Benefit Payment that must be accounted for as interest under the Code based upon the characterization of Tax Benefit Payments as
additional consideration payable by the Corporation for the Units acquired in an Exchange. Carryovers or carrybacks of any Tax item attributable to Basis Adjustments, Imputed Interest and Interest Amounts, as applicable, shall be considered to be
subject to the rules of the Code and the Treasury Regulations or the appropriate provisions of U.S. state and local income and franchise Tax law, as applicable, governing the use, limitation and expiration of carryovers or carrybacks of the relevant
type. If a carryover or carryback of any Tax item includes a portion that is attributable to the Basis Adjustments, Imputed Interest or Interest Amounts, as applicable, and another portion that is not, such portions shall be considered to be used in
accordance with the “with and without” methodology. The parties agree that (i) any Tax Benefit Payment exceeding $100 in respect of an Exchanging Partner in an Exchange attributable to the Basis Adjustments in respect of such
Exchanging Partner (other than amounts accounted for as interest under the Code) will (A) be treated as a subsequent upward purchase price adjustment and (B) have the effect of creating additional Basis Adjustments in respect of such
Exchanging Partner to Exchange Reference Assets in the year of payment, and (ii) as a result, such additional Basis Adjustments in respect of such Exchanging Partner will be incorporated into the current year calculation and into future year
calculations, as appropriate. 
 2.2 Exchange Basis Schedule. Within 120 days after the filing of the U.S. federal income Tax Return
of the Corporation or any Consolidated Group for each Taxable Year in which an Exchange has been effected, the Corporation shall deliver to each Exchanging Partner a schedule (an “Exchange Basis Schedule”) that shows, in reasonable
detail necessary to perform the calculations required by this Agreement, for purposes of Taxes, (i) the Non-Stepped Up Tax Basis of the Exchange Reference Assets attributable to such Exchanging Partner as
of each applicable Exchange Date, (ii) the Basis Adjustment attributable to such Exchanging Partner with respect to the Exchange Reference Assets as a result of the Exchanges effected in such Taxable Year by such Exchanging Partner, calculated
in the aggregate, (iii) the period or periods, if any, over which the Exchange Reference Assets are estimated to be depletable, amortizable and/or depreciable, and (iv) the period or periods, if any, over which each Basis Adjustment
attributable to such Exchanging Partner is estimated to be depletable, amortizable and/or depreciable (which, for non-amortizable assets shall be based on the Valuation Assumptions). 

2.3 Tax Benefit Schedule. Within 120 days after the filing of the U.S. federal income Tax Return of the Corporation, any Consolidated
Group for any Taxable Year in which there is a Realized Tax Benefit or Realized Tax Detriment, the Corporation shall provide to each Exchanging Partner a schedule showing, in reasonable detail, the calculation of the Realized Tax Benefit or Realized
Tax Detriment attributable to such Exchanging Partner for such Taxable Year (a “Tax Benefit Schedule”). The Schedule will become final as provided in Section 2.4(a) and may be amended as provided in Section 2.4(b) (subject
to the procedures set forth in Section 2.4(b)). 

  
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 2.4 Procedures, Amendments. 

(a) Procedure. Every time the Corporation delivers to an Exchanging Partner an applicable Schedule under this Agreement,
including any Amended Schedule delivered pursuant to Section 2.4(b), but excluding any Early Termination Schedule or amended Early Termination Schedule, the Corporation shall also deliver to the Exchanging Partner schedules and work papers, as
determined by the Corporation or reasonably requested by the Exchanging Partner, providing reasonable detail regarding the preparation of the Schedule. Without limiting the application of the preceding sentence, each time the Corporation delivers to
an Exchanging Partner a Tax Benefit Schedule, in addition to the Tax Benefit Schedule, the Corporation shall deliver to such Exchanging Partner a reasonably detailed calculation by the Corporation of the applicable Hypothetical Tax Liability in
respect of such Exchanging Partner, a reasonably detailed calculation by the Corporation of the actual Tax liability (determined as specified in Section 2.1), as well as any other work papers as determined by the Corporation or reasonably
requested by such Exchanging Partner. The applicable Schedule shall become final and binding on all parties unless the Exchanging Partner, within 30 calendar days after receiving an Exchange Basis Schedule or amendment thereto or a Tax Benefit
Schedule or amendment thereto, provides the Corporation with notice of a material objection to such Schedule (“Objection Notice”) made in good faith. If the parties, for any reason, are unable to successfully resolve the issues
raised in such notice within 30 calendar days of receipt by the Corporation of an Objection Notice, if with respect to an Exchange Basis Schedule or a Tax Benefit Schedule, the Corporation and the Exchanging Partner shall employ the reconciliation
procedures as described in Section 7.9 of this Agreement (the “Reconciliation Procedures”). 
 (b)
Amended Schedule. The applicable Schedule in respect of an Exchanging Partner for any Taxable Year may be amended from time to time by the Corporation (i) in connection with a Determination affecting such Schedule, (ii) to
correct material inaccuracies in the Schedule identified as a result of the receipt of additional factual information relating to a Taxable Year after the date the Schedule was provided to the Exchanging Partner, (iii) to comply with the
Expert’s determination under the Reconciliation Procedures, (iv) to reflect a material change in the Realized Tax Benefit or Realized Tax Detriment in respect of the Exchanging Partner for such Taxable Year attributable to a carryback or
carryforward of a loss or other Tax item to such Taxable Year, (v) to reflect a material change in the Realized Tax Benefit or Realized Tax Detriment in respect of the Exchanging Partner for such Taxable Year attributable to an amended Tax
Return filed for such Taxable Year, or (vi) to adjust the Exchange Basis Schedule to take into account payments made pursuant to this Agreement (such Schedule, an “Amended Schedule”). The Corporation shall provide any Amended
Schedule to the Exchanging Partner, within 30 calendar days of the notice of occurrence of an event referred to in clauses (i) through (vi) of the preceding sentence, and any such Amended Schedule shall be subject to approval procedures
similar to those described in Section 2.4(a). 
 ARTICLE III. 

TAX BENEFIT PAYMENTS 
 3.1
Payments. 
 (a) Payments. Subject to the last sentence of Section 4.1(b), within thirty
(30) calendar days of a Tax Benefit Schedule that was delivered to an Exchanging Partner becoming final in accordance with Section 2.4(a), the Corporation shall pay to such Exchanging Partner, for such Taxable Year, the Tax Benefit Payment
with respect to such Exchange determined pursuant to Section 3.1(b). Each such Tax Benefit Payment shall be made by wire transfer (or as otherwise 

  
 9 

 
directed by the Exchanging Partner) of immediately available funds to a bank account of the Exchanging Partner previously designated by such Exchanging Partner to the Corporation. For the
avoidance of doubt, no Tax Benefit Payment shall be made in respect of estimated Tax payments, including, without limitation, U.S. federal estimated income Tax payments. 

(b) A “Tax Benefit Payment” means an amount, not less than zero, equal to the sum of the Net Tax Benefit and
the Interest Amount. For the avoidance of doubt, for Tax purposes, the Interest Amount shall not be treated as interest but instead shall be treated as additional consideration for the acquisition of Units in Exchanges unless otherwise required by
law. The “Net Tax Benefit” for each Taxable Year shall be an amount equal to the excess, if any, of 85% of the Cumulative Net Realized Tax Benefit over the total amount of payments previously made under this Section 3.1,
excluding payments attributable to the Interest Amount; provided, however, that for the avoidance of doubt, no Exchanging Partner shall be required to return any portion of any previously made Tax Benefit Payment. The “Interest
Amount” for a given Taxable Year shall equal the interest on the Net Tax Benefit for such Taxable Year calculated at the Agreed Rate from the due date (without extensions) for filing the Corporation Return with respect to Taxes for the most
recently ended Taxable Year until the Payment Date. The Net Tax Benefit and the Interest Amount shall be determined separately with respect to each separate Exchange, by reference to the resulting Basis Adjustment to the Corporation. 

(c) The Corporation shall use good faith efforts to ensure that it has sufficient Available Cash to make all payments due under
this Agreement without regard to the last sentence of Section 4.1(b). 
 (d) Notwithstanding any provision of this
Agreement to the contrary, an Exchanging Partner may elect for the provisions of this Section 3.1(d) to apply to any Exchange by notifying the Corporation in writing on or before the due date for providing the Exchange Notice with respect to
such Exchange. Following such election, the aggregate Tax Benefit Payments to be made to such Exchanging Partner with respect to any Exchange shall be limited to (i) 100% or such lower percentage such Exchanging Partner elects to apply by notifying
the Corporation in writing on or before the due date for providing the Exchange Notice with respect to such Exchange, of (ii) the amount equal to the sum of (A) any cash, excluding any Tax Benefit Payments, received by such Exchanging
Partner in such Exchange and (B) the aggregate Market Value of the Class A Shares received by such Exchanging Partner in such Exchange, provided, for the avoidance of doubt, that such amount shall not include any Imputed Interest with
respect to such Exchange. 
 3.2 No Duplicative Payments. Notwithstanding anything in this Agreement to the contrary, it is intended
that the provisions of this Agreement will not result in duplicative payment of any amount (including interest) required under this Agreement. It is also intended that the provisions of this Agreement will result in 85% of the Corporation’s
Cumulative Net Realized Tax Benefit, and the Interest Amount thereon, being paid to the Limited Partners pursuant to this Agreement. The provisions of this Agreement shall be construed in the appropriate manner so that these fundamental results are
achieved. 
 3.3 Pro Rata Payments; Coordination of Benefits. 

(a) Notwithstanding anything in Section 3.1 to the contrary, to the extent that the aggregate Tax benefit of the
Corporation or any Consolidated Group’s deduction with respect to the Basis Adjustments, Imputed Interest or Interest Amounts in respect of all Exchanging Limited Partners under this Agreement is limited in a particular Taxable Year because the
Corporation or applicable Consolidated Group does not have sufficient Taxable income, the limitation on the Tax 

  
 10 

 
benefit for the Corporation or the applicable Consolidated Group shall be allocated among the Exchanging Limited Partners in proportion to the respective amounts of Realized Tax Benefits that
would have been determined under this Agreement in respect of each Exchanging Partner if the Corporation or applicable Consolidated Group had sufficient Taxable income so that there were no such limitation. 

(b) If for any reason the Corporation does not fully satisfy its payment obligations to make all Tax Benefit Payments due under
this Agreement in respect of a particular Taxable Year, then the Corporation and the Exchanging Limited Partners agree that (i) the Corporation shall pay the same proportion of each Tax Benefit Payment due under this Agreement in respect of
such Taxable Year, without favoring one obligation over another, and (ii) no Tax Benefit Payment shall be made in respect of any Taxable Year until all Tax Benefit Payments in respect of prior Taxable Years have been made in full. 

ARTICLE IV. 
 TERMINATION

 4.1 Early Termination and Breach of Agreement. 

(a) The Corporation may terminate this Agreement at any time by paying to each Limited Partner the Early Termination Payment
attributable to each such Limited Partner; provided, however, that this Agreement shall only terminate upon the receipt of the Early Termination Payment by all Limited Partners, and provided, further, that the Corporation may withdraw any notice to
execute its termination rights under this Section 4.1(a) prior to the time at which any Early Termination Payment has been paid. Upon payment of the Early Termination Payments by the Corporation, neither the Limited Partners nor the Corporation
shall have any further payment obligations under this Agreement, other than for any (a) Tax Benefit Payment agreed to by the Corporation and an Exchanging Partner as due and payable but unpaid as of the Early Termination Notice and (b) Tax
Benefit Payment in respect of an Exchanging Partner due for the Taxable Year ending with or including the date of the Early Termination Notice (except to the extent that the amount described in clause (b) is included in the Early Termination
Payment). For the avoidance of doubt, if an Exchange occurs after the Corporation makes the Early Termination Payments with respect to all Limited Partners, the Corporation shall have no obligations under this Agreement with respect to such
Exchange, and its only obligations under this Agreement in such case shall be its obligations to all Limited Partners under Section 4.3(a). 

(b) In the event that the Corporation breaches any of its material obligations under this Agreement, whether as a result of
failure to make any payment when due, failure to honor any other material obligation required hereunder or by operation of law as a result of the rejection of this Agreement in a case commenced under the Bankruptcy Code or otherwise, then all
obligations hereunder shall be accelerated and such obligations shall be calculated as if an Early Termination Notice had been delivered to each Limited Partner on the date of such breach and shall include, but shall not be limited to, (1) the
Early Termination Payment of such Limited Partner calculated as if an Early Termination Notice had been delivered on the date of a breach, (2) any Tax Benefit Payment in respect of such Limited Partner agreed to by the Corporation and such
Limited Partner as due and payable but unpaid as of the date of a breach, and (3) any Tax Benefit Payment in respect of such Limited Partner due for the Taxable Year ending with or including the date of a breach. Notwithstanding the foregoing,
in the event that the Corporation breaches this Agreement, the Limited Partners shall be entitled to elect to receive the amounts set forth in clauses (1), (2) and (3) above or to seek specific performance of the terms hereof. The parties
agree that the failure to make any payment due pursuant to this Agreement within six 

  
 11 

 
months of the date such payment is due shall be deemed to be a breach of a material obligation under this Agreement for all purposes of this Agreement, and that it will not be considered to be a
breach of a material obligation under this Agreement to make a payment due pursuant to this Agreement within six months of the date such payment is due. Notwithstanding anything in this Agreement to the contrary, it shall not be a breach of this
Agreement if the Corporation fails to make any Tax Benefit Payment (other than an Early Termination) when due to the extent that the Corporation has insufficient Available Cash to make such payment; provided, however, that the interest
provisions of Section 5.2 shall apply to such late payment (unless the Corporation does not have Available Cash to make such payment as a result of limitations imposed by existing credit agreements to which Holdings is a party, in which case
Section 5.2 shall apply, but the Default Rate shall be replaced by the Agreed Rate). 
 4.2 Early Termination Notice. If the
Corporation chooses to exercise its right of early termination under Section 4.1 above, the Corporation shall deliver to each Limited Partner notice of such intention to exercise such right (“Early Termination Notice”) and a
schedule (the “Early Termination Schedule”) specifying the Corporation’s intention to exercise such right and showing in reasonable detail the calculation of the Early Termination Payment for that Limited Partner. The Early
Termination Schedule shall become final and binding on a Limited Partner (and on the Corporation as to that Limited Partner) unless the Limited Partner, within 30 calendar days after receiving the Early Termination Schedule, provides the Corporation
with notice of a material objection to such Schedule made in good faith (“Material Objection Notice”). If the parties, for any reason, are unable to successfully resolve the issues raised in such notice within 30 calendar days after
receipt by the Corporation of the Material Objection Notice, the Corporation and the Limited Partner shall employ the Reconciliation Procedures as described in Section 7.9 of this Agreement. All Early Termination Schedules affected by any
changes resulting from a Material Objection Notice shall be updated and the Early Termination Payment(s) due in respect thereof shall be recalculated by the Corporation to take into account such changes. 

4.3 Payment upon Early Termination. 

(a) Within thirty (30) days calendar days after agreement between a Limited Partner and the Corporation of the Early
Termination Schedule or the Expert’s determination under the Reconciliation Procedures, as applicable, the Corporation shall pay to such Limited Partner an amount equal to the Early Termination Payment determined for such Limited Partner. Such
payment shall be made by wire transfer (or as otherwise directed by the Limited Partner) of immediately available funds to a bank account designated by the Limited Partner. 

(b) The “Early Termination Payment” as of the date of the delivery of an Early Termination Schedule shall
equal with respect to any Limited Partner the sum of (i) the present value, discounted at the Early Termination Rate as of such date, of all Tax Benefit Payments that would be required to be paid by the Corporation to the Limited Partner (which
in the case of a Limited Partner that has Units that have not previously been Exchanged shall be calculated as if such Limited Partner made an Exchange of all its remaining Units on the Early Termination Date) and assuming that the Valuation
Assumptions are applied and (ii) without duplication of any amounts referred to in (i), amounts deferred pursuant to the last sentence of Section 4.1(b) (including interest). 

  
 12 

 ARTICLE V. 

SUBORDINATION AND LATE PAYMENTS 

5.1 Subordination. Notwithstanding any other provision of this Agreement to the contrary, any Tax Benefit Payment or Early Termination
Payment required to be made by the Corporation to the Limited Partners under this Agreement (an “Exchange Payment”) shall rank subordinate and junior in right of payment to any principal, interest or other amounts due and payable in
respect of any obligations in respect of indebtedness for borrowed money of the Corporation or any of its Subsidiaries (“Senior Obligations”) and shall rank pari passu with all current or future unsecured obligations of the
Corporation that are not Senior Obligations. 
 5.2 Late Payments by the Corporation. The amount of all or any portion of any
Exchange Payment not made to any Exchanging Partner when due under the terms of this Agreement shall be payable together with any interest thereon, computed at the Default Rate (rather than the Agreed Rate) and commencing from the date on which such
Exchange Payment was due and payable. 
 ARTICLE VI. 

NO DISPUTES; CONSISTENCY; COOPERATION 

6.1 Initial Limited Partner Participation in the Corporation’s and Holdings’ Tax Matters. Except as otherwise provided
herein, the Corporation shall have full responsibility for, and sole discretion over, all Tax matters concerning the Corporation, and Consolidated Group and Holdings, including without limitation the preparation, filing or amending of any Tax Return
and defending, contesting or settling any issue pertaining to Taxes. Notwithstanding the foregoing, the Corporation shall notify each Initial Limited Partner of, and keep such Initial Limited Partner reasonably informed with respect to, the portion
of any audit of the Corporation, and Consolidated Group and Holdings by a Taxing Authority the outcome of which is reasonably expected to affect such Initial Limited Partner’s rights and obligations under this Agreement, and shall provide to
such Initial Limited Partner reasonable opportunity to provide information and other input to the Corporation, Holdings and their respective advisors concerning the conduct of any such portion of such audit; provided, however, that the Corporation
and Holdings shall not be required to take any action that is inconsistent with any provision of the Partnership Agreement. 
 6.2
Consistency. Except for items that are explicitly described as “deemed” or in similar manner by the terms of this Agreement, the Corporation and each Limited Partner agree to report and cause to be reported for all purposes,
including federal, state, and local Tax purposes and financial reporting purposes, all Tax-related items (including without limitation the Basis Adjustment and each Tax Benefit Payment) in a manner consistent
with that specified by the Corporation in any Schedule required to be provided by or on behalf of the Corporation under this Agreement. 

6.3 Cooperation. Each Limited Partner shall (a) furnish to the Corporation in a timely manner such information, documents and
other materials as the Corporation may reasonably request for purposes of making any determination or computation necessary or appropriate under this Agreement, preparing any Tax Return or contesting or defending any audit, examination or
controversy with any Taxing Authority, (b) make itself available to the Corporation and its representatives to provide explanations of documents and materials and such other information as the Corporation or its representatives may reasonably
request in connection with any of the matters described in clause (a) above, and (c) reasonably cooperate in connection with any such matter, and the Corporation shall reimburse the Limited Partner for any reasonable third-party costs and
expenses incurred pursuant to this Section. 
 ARTICLE VII. 

MISCELLANEOUS 
 7.1
Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be deemed duly given and received (a) if delivered personally, on the date of delivery, or, if delivered by facsimile, upon
confirmation of transmission by the sender’s fax machine if sent on a Business Day (or otherwise, on the Business Day following confirmation of transmission by the 

  
 13 

 
sender’s fax machine) or (b) on the first Business Day following the date of dispatch if delivered by a recognized next-day courier service. All
notices hereunder shall be delivered as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice: 

if to the Corporation, to: 
 Alta
Mesa Resources, Inc. 
 15021 Katy Freeway, Suite 400 

Houston, Texas 77094 
 Attn:
Harlan H. Chappelle 
 Fax: ___________ 

if to Holdings, to: 
 SRII Opco,
LP 
 15021 Katy Freeway, Suite 400 

Houston, Texas 77094 
 Attn: Jim
Hackett 
 Fax: ___________ 
 If
to a Limited Partner, to the address and facsimile number set forth in Holdings’ records. 
 Any party may change its address or fax
number by giving the other party written notice of its new address or fax number in the manner set forth above. 
 7.2 Counterparts.
This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall 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. Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this
Agreement. 
 7.3 Entire Agreement; No Third Party Beneficiaries. This Agreement constitutes the entire agreement and supersedes all
prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. This Agreement shall be binding upon and inure solely to the benefit of each party hereto and their respective successors and
permitted assigns, and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

7.4 Governing Law. This Agreement shall be governed by, and construed in accordance with, the law of the State of Texas, without regard
to the conflicts of laws principles thereof that would mandate the application of the laws of another jurisdiction. 
 7.5
Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect
so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being
enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated
as originally contemplated to the greatest extent possible. 

  
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 7.6 Successors; Assignment; Amendments; Waivers. No Limited Partner may assign this
Agreement to any person without the prior written consent of the Corporation; provided, however, that (i) to the extent Units are effectively transferred in accordance with the terms of the Partnership Agreement, the transferring Limited
Partner shall have the option to assign to the transferee of such Units the transferring Limited Partner’s rights under this Agreement with respect to such transferred Units, as long as such transferee has executed and delivered, or, in
connection with such transfer, executes and delivers, a Joinder Agreement in the form attached hereto as Exhibit A, agreeing to become a “Limited Partner” for all purposes of this Agreement, except as otherwise provided in such Joinder
Agreement, and (ii) any and all payments payable to a Limited Partner pursuant to this Agreement with respect to a Limited Partner may be assigned to any Person or Persons, including a liquidating trust, as long as any such Person has executed
and delivered, or, in connection with such assignment, executes and delivers, a Joinder Agreement in the form attached hereto as Exhibit A, agreeing to be bound by Section 7.13 and acknowledging specifically the terms of the next paragraph. For
the avoidance of doubt, if a Person transfers Units (regardless of whether the transferee is a “Permitted Transferee” under the terms of the Partnership Agreement) but does not assign to the transferee of such Units such Person’s
rights, if any, under this Agreement with respect to such transferred Units or payments payable to such Limited Partner under this Agreement, such Person shall be entitled to receive the Tax Benefit Payments, if any, due hereunder including with
respect to, any Tax Benefit Payments arising in respect of a subsequent Exchange of, such Units. 
 Notwithstanding the foregoing provisions
of this Section 7.6, and other than a transferee or assignee who is a beneficial owner of an interest in HMH or Riverstone, (a) no transferee described in clause (i) of the immediately preceding paragraph shall have the right to
enforce the provisions of Sections 2.4, 4.2, 6.1 or 6.2 of this Agreement, and (b) no assignee described in clause (ii) of the immediately preceding paragraph shall have any rights under this Agreement except for the right to enforce
its right to receive payments under this Agreement. 
 No provision of this Agreement may be amended unless such amendment is approved in
writing by each of the Corporation and Holdings and each Initial Limited Partner. No provision of this Agreement may be waived unless such waiver is in writing and signed by the party against whom the waiver is to be effective. 

All of the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties
hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Corporation shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or
substantially all of the business or assets of the Corporation, by written agreement, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporation would be required to perform if no such
succession had taken place. For the avoidance of doubt and notwithstanding anything to the contrary herein, in the event an Initial Limited Partner transfers Units to a Permitted Transferee (as defined in the Partnership Agreement) that is a
beneficial owner of interest in such Initial Limited Partner, then such beneficial owner shall have the right to enforce the provisions of Sections 2.4, 4.2 or 6.1 with respect to such transferred Units. 

7.7 Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference only and are
not to be considered in construing this Agreement. 
 7.8 Resolution of Disputes. 

  
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 (a) Any and all disputes, including but not limited to any ancillary claims of
any party, arising out of, relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement (including the validity, scope and
enforceability of this arbitration provision) (each a “Dispute”) shall be finally settled by arbitration conducted by a single arbitrator in Harris County, Texas in accordance with this Section 7.8, regardless of whether some
or all of any Dispute allegedly (i) is extra-contractual in nature, (ii) sounds in contract, tort or otherwise, (iii) is provided by U.S. federal or state statute, common law or otherwise, or (iv) seeks damages or any other
relief, whether at law, in equity or otherwise. 
 (b) If the parties to the Dispute fail to agree on the selection of an
arbitrator within ten (10) days of the receipt of the request for arbitration, either party may apply to the U.S. District Court of the Southern District of Texas, Houston Division, or any other court of competent jurisdiction, for the
appointment of an arbitrator pursuant to the Federal Arbitration Act, 9 U.S.C. § 5. 
 (c) Notwithstanding the fact
that any matter in dispute between the parties is to be submitted, or has already been submitted, to arbitration, the parties shall continue to observe and perform their respective obligations and duties under this Agreement during any arbitration
proceedings. 
 (d) Subject to any relevant legal privilege, within 30 days of the selection of an arbitrator, each party
shall be required to disclose to the other party all documents that are relevant to the Dispute and to identify all persons likely to have knowledge of facts relevant to the dispute. Absent a showing of undue prejudice and necessity, there shall be
no other discovery, whether by requests for production, interrogatories or deposition, in connection with the arbitration. The arbitrator shall have the power to make all orders necessary for the disclosure contemplated herein, which orders the
parties consent in advance to obey. If a party fails or refuses to comply with an order for disclosure, the arbitrator may take that failure into account when deciding the issues and may infer that the documents not produced would have supported the
opposing party’s claims. 
 (e) The presentation of evidence shall be limited to: (1) no more than two pre-hearing written submissions by each party, which shall include witness statements, declarations, or affidavits, expert reports, and all documentary and tangible evidence, and legal authority upon which the party
relies, and (2) cross-examination at the hearing of only persons submitting statements, declarations, affidavits, or expert reports. 

(f) Barring extraordinary circumstances as may be determined by the arbitrator, the arbitration proceedings will be concluded
within 120 days from the selection of the arbitrator, which time may be extended in the interest of justice and failure to adhere to or meet this limit shall not constitute a basis for challenging the award. The parties to a Dispute may by mutual
written agreement, and with the consent of the arbitrator, extend any of the deadlines of this Section 7.8. 
 (g) In
addition to monetary damages, the arbitrator shall be empowered to issue procedural orders or interim measures upon application of any party, including requests for injunctive relief, specific performance of any obligation under this Agreement, and
other equitable remedies, which may be enforced as necessary in any court of competent jurisdiction. The arbitrator shall not decide a Dispute ex aqueo et bono or as amiable compositeur, and is not empowered to award damages in excess
of compensatory damages, and each party hereby 

  
 16 

 
irrevocably waives any right to recover punitive, exemplary or similar damages with respect to any Dispute. The arbitrator shall not have the authority to modify or amend any term or provision of
this Agreement. The award shall be final and binding upon the parties as from the date rendered, and shall be the sole and exclusive remedy between the parties regarding any claims, counterclaims, issues, or accounting presented to the arbitral
tribunal. Judgment upon any award may be entered and enforced in any court having jurisdiction over a party or any of its assets. 

(h) The award shall include interest, unless the arbitrator determines it is not appropriate. Interest shall run from the date
of any breach or violation of the Agreement, which shall be determined by the arbitrator in its award. If the arbitrator cannot determine such date or fails to specify such date in its award, interest shall run from the date of serving the request
for arbitration. Interest shall continue to run from the date of award until the award is paid in full. Interest shall be calculated and compounded monthly at the one-year US$ LIBOR rate as published by the
Financial Times on the first business day of the applicable month plus 4 per cent. 
 (i) The arbitrator shall designate
a prevailing party (or parties) in its final award and, pursuant to this determination, shall award to the prevailing party (or parties) its attorneys’ fees, costs and expenses of the arbitration (including the arbitrators’ fees and
expenses) in full. 
 (j) Notwithstanding the provisions of paragraph (a), the Corporation may bring an action or
special proceeding in any court of competent jurisdiction for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award and, for the purposes of
this paragraph (j), each Limited Partner (1) expressly consents to the application of paragraph (i) of this Section 7.8 to any such action or proceeding, (2) agrees that proof shall not be required that monetary damages for
breach of the provisions of this Agreement would be difficult to calculate and that remedies at law would be inadequate, and (3) irrevocably appoints the Corporation as such Limited Partner’s agent for service of process in connection with
any such action or proceeding and agrees that service of process upon such agent, who shall promptly advise such Limited Partner of any such service of process, shall be deemed in every respect effective service of process upon the Limited Partner
in any such action or proceeding. 
 (k) EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF COURTS LOCATED IN
AUSTIN, TEXAS FOR THE PURPOSE OF ANY JUDICIAL PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION 7.8, OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR
CONCERNING THIS AGREEMENT. Such ancillary judicial proceedings include any suit, action or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration, or to confirm an arbitration award. The parties
acknowledge that the forum designated by this paragraph (b) have a reasonable relation to this Agreement, and to the parties’ relationship with one another; and the parties hereby waive, to the fullest extent permitted by applicable law,
any objection which they now or hereafter may have to personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in any court referred to in this Section 7.8 and such parties agree not to plead or
claim the same. 
 7.9 Reconciliation. In the event that the Corporation and the Limited Partner are unable to resolve a disagreement
with respect to the matters governed by Sections 2.4, 4.2 and 6.2 within the relevant period designated in this Agreement (“Reconciliation Dispute”), the Reconciliation Dispute shall be submitted for determination to a
nationally recognized expert (the “Expert”) in the particular area of 

  
 17 

 
disagreement mutually acceptable to both parties. The Expert shall be a partner in a nationally recognized accounting firm or a law firm, and the Expert shall not, and, unless the Limited Partner
agrees otherwise, the firm that employs the Expert shall not, have any material relationship with either the Corporation or the Limited Partner or other actual or potential conflict of interest. If the parties are unable to agree on an Expert within
fifteen (15) days of receipt by the respondent(s) of written notice of a Reconciliation Dispute, the Expert shall be appointed by the International Chamber of Commerce Centre for Expertise. The Expert shall resolve any matter relating to the
Exchange Basis Schedule or an amendment thereto or the Early Termination Schedule or an amendment thereto within 30 calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within 15 calendar days or
as soon thereafter as is reasonably practicable, in each case after the matter has been submitted to the Expert for resolution. Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a
disagreement would be due (in the absence of such disagreement) or any Tax Return reflecting the subject of a disagreement is due, the undisputed amount shall be paid on such date and such Tax Return may be filed as prepared by the Corporation,
subject to adjustment or amendment upon resolution. 
 The costs and expenses relating to the engagement of such Expert or amending any Tax Return shall be
borne equally by the Corporation and such Limited Partner except as provided in the next sentence. The Corporation and each Limited Partner shall bear their own costs and expenses of such proceeding, unless a Limited Partner has a prevailing
position that is more than 10% of the payment at issue, in which case the Corporation shall reimburse such Limited Partner for any reasonable out-of-pocket costs and
expenses in such proceeding. Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section 7.9 shall be decided by the Expert. The Expert shall finally determine any Reconciliation Dispute and the
determinations of the Expert pursuant to this Section 7.9 shall be binding on the Corporation and the Limited Partner and may be entered and enforced in any court having jurisdiction. 

7.10 Withholding. The Corporation shall be entitled to deduct and withhold from any payment payable pursuant to this Agreement such
amounts as the Corporation is required to deduct and withhold with respect to the making of such payment under the Code or any provision of state, local or foreign Tax law. To the extent that amounts are so withheld and paid over to the appropriate
Taxing Authority by the Corporation, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the Exchanging Partner. 

7.11 Tax Covenant. The Corporation, Holdings and each of the Limited Partners hereby acknowledge that, as of the date of this
Agreement, the aggregate value of the Tax Benefit Payments cannot reasonably be ascertained for U.S. federal income Tax or other applicable Tax purposes. 

7.12 Admission of the Corporation into a Consolidated Group; Transfers of Corporate Assets. 

(a) If the Corporation becomes a member of an affiliated or consolidated group of corporations that files a consolidated income
Tax Return pursuant to Sections 1501 et seq. of the Code or any corresponding provisions of state, local or foreign law, then: (i) the provisions of this Agreement shall be applied with respect to the group as a whole; and (ii) Tax
Benefit Payments, Early Termination Payments and other applicable items hereunder shall be computed with reference to the consolidated Taxable income of the group as a whole. 

(b) If any entity that is obligated to make an Exchange Payment hereunder transfers one or more assets to a corporation with
which such entity does not file a consolidated Tax Return pursuant to Section 1501 of the Code, such entity, for purposes of calculating the amount of any Exchange Payment (e.g., calculating the gross income of the entity and determining
the Realized Tax Benefit of such entity) due hereunder, shall be treated as having disposed of such 

  
 18 

 
asset in a fully Taxable transaction on the date of such transfer. The consideration deemed to be received by such entity shall be equal to the fair market value of the transferred asset, plus
(i) the amount of debt to which such asset is subject, in the case of a transfer of an encumbered asset or (ii) the amount of debt allocated to such asset, in the case of a transfer of a partnership interest. 

7.13 Confidentiality. Each Limited Partner and assignee acknowledges and agrees that the information of the Corporation is confidential
and, except in the course of performing any duties as necessary for the Corporation and its Affiliates, as required by law or legal process or to enforce the terms of this Agreement, such person shall keep and retain in the strictest confidence and
not disclose to any Person any confidential matters, acquired pursuant to this Agreement, of the Corporation and its Affiliates and successors, concerning Holdings and its Affiliates and successors or the other Limited Partners, learned by the
Limited Partner heretofore or hereafter. This clause 7.13 shall not apply to (i) any information that has been made publicly available by the Corporation or any of its Affiliates, becomes public knowledge (except as a result of an act of
such Limited Partner in violation of this Agreement) or is generally known to the business community and (ii) the disclosure of information to the extent necessary for a Limited Partner to prepare and file his or her Tax Returns, to respond to
any inquiries regarding the same from any Taxing Authority or to prosecute or defend any action, proceeding or audit by any Taxing Authority with respect to such returns. Notwithstanding anything to the contrary herein, each Limited Partner and
assignee (and each employee, representative or other agent of such Limited Partner or assignee, as applicable) may disclose to any and all Persons, without limitation of any kind, the Tax treatment and Tax structure of the Corporation, Holdings, the
Limited Partners and their Affiliates, and any of their transactions, and all materials of any kind (including opinions or other Tax analyses) that are provided to the Limited Partners relating to such Tax treatment and Tax structure. 

If a Limited Partner or assignee commits a breach, or threatens to commit a breach, of any of the provisions of this Section 7.13, the
Corporation shall have the right and remedy to have the provisions of this Section 7.13 specifically enforced by injunctive relief or otherwise by any court of competent jurisdiction without the need to post any bond or other security, it being
acknowledged and agreed that any such breach or threatened breach shall cause irreparable injury to the Corporation or any of its Subsidiaries or the other Limited Partners and the accounts and funds managed by the Corporation and that money damages
alone shall not provide an adequate remedy to such Persons. Such rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available at law or in equity. 

7.14 Partnership Agreement. To the extent applicable, this Agreement shall be treated as part of the partnership agreement of Holdings
as described in Section 761(c) of the Code and Sections 1.704-1(b)(2)(ii)(h) and 1.761-1(c) of the Treasury Regulations.  

7.15 Independent Nature of Exchanging Limited Partners’ Rights and Obligations. The obligations of each Limited Partner hereunder
are several and not joint with the obligations of any other Limited Partner, and no Limited Partner shall be responsible in any way for the performance of the obligations of any other Limited Partner hereunder. The decision of each Limited Partner
to enter into this Agreement has been made by such Limited Partner independently of any other Limited Partner. Nothing contained herein, and no action taken by any Limited Partner pursuant hereto, shall be deemed to constitute the Limited Partners
as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Limited Partners are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated hereby
and the Corporation acknowledges that the Limited Partners are not acting in concert or as a group, and the Corporation will not assert any such claim, with respect to such obligations or the transactions contemplated hereby. 

  
 19 

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

  
 20 

 IN WITNESS WHEREOF, the Corporation, Holdings, Riverstone and HMH have duly executed this
Agreement as of the date first written above. 
  

			
	THE CORPORATION:
	
	ALTA MESA RESOURCES, INC.,
	a Delaware corporation
		
	By:	 	/s/ Harlan H.
Chappelle                                        

		 	Name: Harlan H.
Chappelle                                  
		 	Title: Chief Executive Officer                              

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Tax Receivable Agreement 

 
			
	HOLDINGS:
	
	SRII OPCO, LP,
	a Delaware limited partnership
		
	By:	 	 /s/ Stephen S. Coats

		 	Name: Stephen S. Coats
		 	Title: Secretary

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Tax Receivable Agreement 

 
					
	RIVERSTONE:
	
	RIVERSTONE VI ALTA MESA HOLDINGS, L.P.,
	a Delaware limited partnership
		
	By:	 	/s/ Peter
Haskopoulos                                       
     
		 	Name: Peter
Haskopoulos                                     
		 	Title: Managing
Director                                      

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Signature Page to the 

Tax Receivable Agreement 

 
			
	HMH:
	
	HIGH MESA HOLDINGS, LP,
	a Delaware limited partnership
		
	By:	 	High Mesa Holdings GP, LLC,
		 	a Delaware limited liability company,
		 	its General Partner
		
	By:	 	 /s/ Harlan H. Chappelle

		 	Harlan H. Chappelle,
		 	President and Chief Executive Officer

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Signature Page to the 

Tax Receivable Agreement 

 EXHIBIT A 

JOINDER 
 This JOINDER
(this “Joinder”) to the Tax Receivable Agreement, dated as of     , by and among Alta Mesa Resources, Inc. (f/k/a Silver Run Acquisition Corporation II), a Delaware corporation (the
“Corporation”), SRII Opco, LP, a Delaware limited partnership (“Holdings”), Riverstone VI Alta Mesa Holdings, L.P., a Delaware partnership (“Riverstone”), and High Mesa Holdings LP, a Delaware
limited partnership (“HMH”, with Riverstone and HMH, each a “Permitted Transferee”). 
 WHEREAS, on ,
Permitted Transferee acquired (the “Acquisition”) Interests in Holdings and the corresponding shares of Class C common stock of the Corporation (collectively, “Units” and, together with all other Units
hereinafter acquired by Permitted Transferee from Transferor and its Permitted Transferees (as defined in the Tax Receivable Agreement), the “Acquired Units”) from
                         (“Transferor”); and 

WHEREAS, Transferor, in connection with the Acquisition, has required Permitted Transferee to execute and deliver this Joinder pursuant to
Section 7.6 of the Tax Receivable Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and the agreements contained herein,
Permitted Transferee hereby agrees as follows: 
 Section 1.1. Definitions. To the extent capitalized words used in this Joinder
are not defined in this Joinder, such words shall have the meaning set forth in the Tax Receivable Agreement. 
 Section 1.2.
Joinder. Permitted Transferee hereby acknowledges and agrees to become a “Limited Partner” (as defined in the Tax Receivable Agreement) for all purposes of the Tax Receivable Agreement, including but not limited to, being
bound by Sections 2.4, 4.2, 6.1, 6.2 and 7.12 of the Tax Receivable Agreement, with respect to the Acquired Units. 
 Section 1.3.
Notice. All notices, requests, consents and other communications hereunder to Permitted Transferee shall be deemed to be sufficient if contained in a written instrument delivered in person or sent by facsimile (provided a copy is thereafter
promptly delivered as provided in this Section 1.3) or nationally recognized overnight courier, addressed to Permitted Transferee at the address or facsimile number set forth below or such other address or facsimile number as may hereafter be
designated in writing by Permitted Transferee: 
 Section 1.4. Governing Law. THIS JOINDER SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO CONFLICT OF LAWS PRINCIPLES THEREOF. 

 IN WITNESS WHEREOF, this Joinder has been duly executed and delivered by Permitted Transferee as
of the date first above written. 
  

			
	By:	 	  

		 	Name:                                     
                               
		 	Title:

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