Document:

Third Amendment to Credit Agreement dated as of May 12, 2003

 EXHIBIT 10.1 
  
 THIRD AMENDMENT TO CREDIT AGREEMENT 
  
 This Third Amendment to Credit Agreement (this “Amendment”) dated as of May 20, 2004, is by and among
VINTAGE PETROLEUM, INC., a Delaware corporation (the “Borrower”), each Lender (as defined in the Credit Agreement referred to below), BANK OF MONTREAL, acting through certain of its U.S. branches or agencies,
individually and as administrative agent (in such capacity, together with its successors in such capacity, the “Agent”), DEUTSCHE BANK TRUST COMPANY AMERICAS, as syndication agent, and FLEET NATIONAL BANK,
SOCIÉTÉ GÉNÉRALE and THE BANK OF NEW YORK, as co-documentation agents. 
  
 R E C I T A L S: 
  
 WHEREAS, the Borrower, each Lender then a party, the Agent and the Issuer have heretofore entered into that certain Credit Agreement dated as of May 2, 2002, as amended by (i) that certain First Amendment to Credit Agreement dated as of May
24, 2002 (“First Amendment”) and (ii) that certain Second Amendment to Credit Agreement dated as of May 12, 2003 (“Second Amendment”) (such Credit Agreement, as amended by the First Amendment, Second Amendment and
as otherwise amended to the date hereof, the “Credit Agreement”) pursuant to which the Lenders have agreed to make revolving loans available to, and to participate in letters of credit for the benefit of, the Borrower upon the terms
and provisions stated therein; and 
  
 WHEREAS, the Borrower has
requested that the Credit Agreement be amended as set forth herein; and 
  
 NOW, THEREFORE, in consideration of the premises herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 Section 1. Definitions. Capitalized terms used in this Amendment, to
the extent not otherwise defined herein, shall have the same meaning as in the Credit Agreement. 
  
 Section 2. Amendments to Credit Agreement. The following amendments shall become effective as of the date hereof upon the satisfaction of the
conditions set forth in Section 4 hereof. 
  
 (a) The definition
of “Stated Maturity Date” in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety as follows: 
  
 “ “Stated Maturity Date” means May 2, 2008.” 
  
 (b) The definition of “LIBO Rate Applicable Margin” in Section 1.1 of the Credit Agreement is hereby
amended by replacing the existing pricing grid with the following pricing grid: 

  

				
	 Ratio of Borrowing Base Debt
 to Borrowing
Base

	  	LIBO Rate
Applicable Margin

	 
	 Greater than or equal to 90%
	  	2.000	%
	 Greater than or equal to 66.6% and less than 90%
	  	1.750	%
	 Greater than or equal to 33.3% and less than 66.6%
	  	1.500	%
	 Less than 33.3%
	  	1.250	%

  
 (c) The definition of
“Revolving Loan Letter of Credit Applicable Margin” in Section 1.1 of the Credit Agreement is hereby amended by replacing the existing pricing grid with the following pricing grid: 
  

				
	 Ratio of Borrowing Base Debt
 to Borrowing
Base

	  	Letter of Credit
Applicable Margin

	 
	 Greater than or equal to 90%
	  	2.000	%
	 Greater than or equal to 66.6% and less than 90%
	  	1.750	%
	 Greater than or equal to 33.3% and less than 66.6%
	  	1.500	%
	 Less than 33.3%
	  	1.250	%

  
 (d) Section 1.1
of the Credit Agreement is hereby amended by inserting the following definition of “Commitment Fee Rate” in appropriate alphabetical order: 
  
 “ “Commitment Fee Rate” means, on any date for which it is determined prior to the Revolving Period Commitment Termination Date and
on which the ratio (expressed as a percentage) of the outstanding principal of Borrowing Base Debt, including any Revolving Loans outstanding and Revolving Loan Letter of Credit Outstandings, to the Borrowing Base then in effect shall equal those
ratios set forth below, the percentage set forth opposite such ratio: 
  

				
	 Ratio of Borrowing Base Debt
 to Borrowing
Base

	  	Commitment
Fee Rate

	 
	 Greater than or equal to 66.6%
	  	0.500	%
	 Less than 66.6%
	  	0.375	%

  
 Changes in the
Commitment Fee Rate shall occur automatically with a change in such ratio of the Borrowing Base Debt to the Borrowing Base. 
  

 2 

 (e) Section 2.1.6(ii) of the Credit Agreement is hereby amended by deleting the reference to
“$350,000,000” and replacing such reference with “$400,000,000”. 
  
 (f) Section 3.3.1 of the Credit Agreement is hereby amended and restated in its entirety to provide as follows: 
  
 “ SECTION 3.3.1. Commitment Fee. The Borrower agrees to pay to the Agent for the account of each Lender, for the period (including any portion
thereof when any of its Commitments are suspended by reason of the Borrower’s inability to satisfy any condition of Article V) commencing on the Effective Date and continuing through the Revolving Period Commitment Termination Date, a
commitment fee equal to the Commitment Fee Rate multiplied by each Lender’s Percentage of the average daily unused portion of the Maximum Commitment Amount. Such commitment fees shall be payable by the Borrower in arrears on each Quarterly
Payment Date, commencing on June 1, 2002, and ending on the Revolving Period Commitment Termination Date. 
  
 (g) Section 7.2.4 of the Credit Agreement is hereby amended and restated in its entirety to provide as follows: 
  
 “ SECTION 7.2.4. Financial Condition. The Borrower will not
permit: (a) its Tangible Net Worth to be less than the sum of $300,000,000 plus 75% of the proceeds from third parties of the sale by the Borrower and its Subsidiaries of securities (other than securities constituting Indebtedness) occurring
after December 31, 2003 net of reasonable incidental, brokerage, underwriting and legal costs actually paid to third parties in connection therewith, less any after tax impairment writedowns and accumulated net charges to net income or
Comprehensive Income required by FAS 133, GAAP or by the Securities and Exchange Commission occurring after December 31, 2003; and (b) its Current Ratio as of the end of any Fiscal Quarter to be less than 1:1; provided that for purposes of
the Current Ratio, (x) any unused portion of the Revolving Period Commitment Amount will be deemed a current asset and (y) liabilities required by FAS 133 shall be excluded from current liabilities.” 
  
 (h) Section 7.2.14 of the Credit Agreement is hereby amended and
restated in its entirety to provide as follows: 
  
 “
SECTION 7.2.14. Limitation on Hedging Obligations. The Borrower will not, and will not permit any of its Subsidiaries to, enter into Hedging Agreements in respect of Hydrocarbons that with respect to any calendar year cover in the aggregate
more than 85% of the projected production attributable to the Borrower’s and its Subsidiaries’ then proved Oil and Gas Properties located in the United States and Canada.” 
  
 Section 3. Determination of Borrowing Base. Subject to Sections 2.7.3, 2.7.4 and 2.7.5 of the
Credit Agreement, by execution of this Amendment, each of the Agent, the Applicable Lenders and the Borrower agrees during the period from the date hereof to the date of the next redetermination of the Borrowing Base that the Borrowing Base will
equal $325,000,000. 
  

 3 

 Section 4. Conditions Precedent. The effectiveness of this Amendment is subject to the
satisfaction of the following conditions precedent: 
  
 (a) Executed Amendment. The Agent shall have received a counterpart of this Amendment duly executed by the Borrower, the Agent and the Lenders. 
  

(b) Payment of Fees. The Agent shall have received: (i) an amendment fee for the account of each Lender executing this Amendment
and returning its signature page to the Agent in the amounts set forth in that certain letter, dated April 29, 2004 from the Agent to the Vintage Petroleum, Inc. Lender Group and (ii) such other fees otherwise agreed in writing by the Borrower.

  
 Section 5. Representations and Warranties. To induce
the Lenders and the Agent to enter into this Amendment, the Borrower hereby reaffirms, as of the date hereof, its representations and warranties contained in Article VI of the Credit Agreement (except to the extent such representations and
warranties relate solely to an earlier date) and additionally represents and warrants as follows: 
  
 (a) The execution, delivery and performance by the Borrower of this Amendment and each other Loan Document executed or to be executed by
it, are within the Borrower’s corporate powers, have been duly authorized by all necessary corporate action, and do not (a) contravene the Borrower’s Organic Documents; (b) contravene any contractual restriction, law or governmental
regulation or court decree or order binding on or affecting the Borrower; or (c) result in, or require the creation or imposition of, any Lien on any of the Borrower’s properties. 
  
 (b) This Amendment constitutes the legal, valid and binding obligation of the Borrower enforceable in
accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally. 
  
 (c) No Default has occurred and is continuing. 

 
 Section 6. Reaffirmation of Credit Agreement. This Amendment shall
be deemed to be an amendment to the Credit Agreement, and the Credit Agreement, as amended hereby, and the other Loan Documents are hereby ratified, approved and confirmed in each and every respect and shall continue in full force and effect. All
references to the Credit Agreement in any other document, instrument, agreement or writing shall hereafter be deemed to refer to the Credit Agreement as amended hereby. 
  
 Section 7. Expenses. The Borrower agrees to pay on demand all expenses set forth in Section 10.3 of the Credit
Agreement. 
  
 Section 8. Miscellaneous. (a) On and after
the effectiveness of this Amendment, each reference in each Loan Document to “this Agreement”, “this Note”, “this Mortgage”, “this Guaranty”, “hereunder”, “hereof” or words of like import,
referring to such Loan Document, and each reference in each other Loan Document to “the Credit Agreement”, “the Notes”, “the 
  

 4 

 Mortgages”, “the Guaranty”, “thereunder”, “thereof” or words of like import referring
to the Credit Agreement, the Notes, or the Mortgage, the Guaranty or any of them, shall mean and be a reference to such Loan Document, the Credit Agreement, the Notes, the Mortgage, the Guaranty, or any of them, as amended or otherwise modified by
this Amendment; (b) the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any default of the Borrower or any right, power or remedy of the Agent or the Lenders under any of the Loan Documents, nor constitute a
waiver of any provision of any of the Loan Documents; (c) this Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all
of which taken together shall constitute one and the same agreement; and (d) delivery of an executed counterpart of a signature page to this Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment.

  
 Section 9. Severability. Any provision of this
Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such provision and such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions of this
Amendment or affecting the validity or enforceability of such provision in any other jurisdiction. 
  
 Section 10. Governing Law; Entire Agreement. THIS AMENDMENT, THE NOTES AND EACH OTHER LOAN DOCUMENT SHALL EACH BE DEEMED TO BE A CONTRACT MADE
UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF ILLINOIS. This Amendment, the Credit Agreement, the Notes and the other Loan Documents constitute the entire understanding among the parties hereto with respect to the subject matter hereof
and supersede any prior agreements, written or oral, with respect thereto. 
  
 Section 11. Successors and Assigns. This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns in the manner provided in the Credit
Agreement. 
  
 Section 12. Headings. The various headings
of this Amendment and of each other Loan Document are inserted for convenience only and shall not affect the meaning or interpretation of this Amendment or such other Loan Document or any provisions hereof or thereof. 
  
 Section 13. No Oral Agreements. THIS WRITTEN AMENDMENT REPRESENTS
THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. 
  
 THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 
  

[SIGNATURE PAGES FOLLOW] 
  

 5 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective
officers thereunto duly authorized as of the day and year first above written. 
  

			
	BORROWER:
	
	VINTAGE PETROLEUM, INC.
		
	By:	 	 /s/ William C. Barnes

	Name:	 	William C. Barnes
	Title:	 	 Executive Vice President and
 Chief Financial
Officer

  

 S - 1 

  

			
	BANK OF MONTREAL, acting through its U.S.
branches and agencies, including initially its
Chicago, Illinois branch, as Agent and Lender
		
	By	 	 /s/ James V. Ducote

	Name:	 	James V. Ducote
	Title:	 	Director

  

 S - 2 

  

			
	DEUTSCHE BANK TRUST COMPANY
AMERICAS, as Syndication Agent and Lender
		
	By	 	 /s/ Marcus M. Tarkington

	Name:	 	Marcus M. Tarkington
	Title:	 	Director

  

 S - 3 

  

			
	 FLEET NATIONAL BANK, as Co-
 Documentation Agent and Lender

		
	By	 	 /s/ Allison Rossi

	Name:	 	Allison Rossi
	Title:	 	Director

  

 S - 4 

			
	SOCIÉTÉ GÉNÉRALE, as Co-Documentation
Agent and Lender
		
	By	 	 /s/ Stephen W. Warfel

	Name:	 	Stephen W. Warfel
	Title:	 	Vice President

  

 S - 5 

			
	THE BANK OF NEW YORK, as Co-
Documentation Agent and Lender
		
	By	 	 /s/ Raymond J. Palmer

	Name:	 	Raymond J. Palmer
	Title:	 	Vice President

  

 S - 6 

			
	CALYON NEW YORK BRANCH, successor to
Credit Lyonnais New York Branch, as Lender
		
	By:	 	 /s/ Oliver Audemard

	Name:	 	Oliver Audemard
	Title:	 	Managing Director

  

 S - 7 

 [SIGNATURE PAGE INTENTIONALLY OMITTED] 
  

 S - 8 

			
	BANK OF OKLAHOMA, N.A., as Lender
		
	By:	 	 /s/ Pam P. Schloeder

	Name:	 	Pam P. Schloeder
	Title:	 	Senior Vice President

  

 S - 9 

			
	FORTIS CAPITAL CORP., as Lender
		
	By:	 	 /s/ David Montgomery

	Name:	 	David Montgomery
	Title:	 	Senior Vice President
		
	By:	 	 /s/ Darrell W. Holley

	Name:	 	Darrell W. Holley
	Title:	 	Managing Director

  

 S - 10 

			
	 UNION BANK OF CALIFORNIA, N.A.,
 as
Lender

		
	By:	 	 /s/ Kimberly Coll

	Name:	 	Kimberly Coll
	Title:	 	Assistant Vice President
		
	By:	 	 /s/ Ali Ahmed

	Name:	 	Ali Ahmed
	Title:	 	Vice President

  

 S - 11 

			
	LOCAL OKLAHOMA BANK, as Lender
		
	By:	 	 /s/ Robert O. Laird

	Name:	 	Robert O. Laird
	Title:	 	Vice President

  

 S - 12Form of Restricted Stock Rights Award Agreement for executive officers

 EXHIBIT 10.2 
  
 VINTAGE PETROLEUM, INC. 
  
 RESTRICTED STOCK RIGHTS AWARD AGREEMENT 
  
                                     ,
200     
  
 [Name and Address] 
  
 Dear
                                        
    : 
  
 1. Restricted Rights Stock
Award. Vintage Petroleum, Inc., a Delaware corporation (the “Company”), hereby grants to you a base number of restricted stock rights in the aggregate amount of
             (“Base Number”), subject to adjustment as set forth in Section 5 below (individually, a “RSR,” and collectively, “RSRs”). Each RSR entitles
you to receive one share of Common Stock, par value $.005 per share, of the Company (“Restricted Shares”) at such time as the restrictions described in Section 4(b) lapse as described in Section 5. This award is subject to your acceptance
of and agreement to all of the applicable terms, conditions, and restrictions described in the Company’s 1990 Stock Plan, as amended (the “Plan”), a copy of which is on file with, and may be obtained from, the Secretary of the
Company, and to your acceptance of and agreement to the further terms, conditions, and restrictions described in this Restricted Stock Rights Award Agreement (this “Award Agreement”). To the extent that any provision of this Award
Agreement conflicts with the expressly applicable terms of the Plan, it is hereby acknowledged and agreed that those terms of the Plan shall control and, if necessary, the applicable provisions of this Award Agreement shall be hereby deemed amended
so as to carry out the purpose and intent of the Plan. This award shall constitute an “Award” under the Plan, and any capitalized terms used in this Award Agreement that are not otherwise defined herein shall have the respective meanings
provided in the Plan. 
  
 2. Restricted Share Certificates.
The Company shall register and issue a certificate(s) for the Restricted Shares you become entitled to receive hereunder in your name as soon as practicable after the restrictions described in Section 4(b) lapse as described in Section 5. All
certificates for Restricted Shares delivered to you pursuant to this Award Agreement shall be subject to such stop transfer orders and other restrictions as the committee of the Board of Directors of the Company that administers the Plan may deem
necessary or advisable under the Plan and the rules, regulations and other requirements of the Securities and Exchange Commission, any stock exchange upon which such Restricted Shares are then listed, and any applicable foreign, federal or state
securities laws. 
  
 3. Stockholder Rights Prior to Issuance of
Restricted Shares. Neither you nor any of your beneficiaries shall be deemed to have any voting rights, rights to receive any dividends or other rights as a stockholder of the Company with respect to any Restricted Shares covered by the RSRs
until the date of issuance by the Company of a certificate to you for such Restricted Shares. 

 4. Restrictions. 
  
 (a) Your ownership of the RSRs shall be subject to (i) the restrictions set forth in subsection (b) of this Section until
such restrictions lapse pursuant to the terms of Section 5 and (ii) the restrictions set forth in subsection (c) of this Section until such RSRs shall be redeemed for the applicable Restricted Shares or otherwise forfeited to the Company.

  
 (b) At the time of your “Termination of Employment”
(as defined in Section 10(b)), other than a Termination of Employment that occurs as a result of an event described in Section 5(b)(1) or a Termination of Employment that is described in Section 5(b)(2), all of your RSRs shall be forfeited to the
Company and all of your rights to receive any Restricted Shares in the future pursuant to the RSRs shall automatically terminate without any payment of consideration by the Company. 
  
 (c) You may not sell, assign, transfer or otherwise dispose of any RSRs or any rights under the RSRs. No RSR and no rights
under any such RSR may be pledged, alienated, attached or otherwise encumbered, and any purported pledge, alienation, attachment or encumbrance thereof shall be void and unenforceable against the Company. 
  
 5. Lapse of Restrictions. 
  
 (a) The restrictions described in Section 4(b) shall lapse on the 65th day
following the close of the Performance Period with respect to the number of the RSRs earned under this Award Agreement as follows: 
  
 The number of RSRs to be earned under this Award Agreement shall be based upon the Company’s Total Stockholder Return as compared to the Total
Stockholder Return of the Company’s Peer Group during the Performance Period. 
  
 For this purpose, “Total Stockholder Return” shall be determined as follows, expressed as a percentage: 
  
 Total Stockholder  =  Change in Stock Value 
             Return             Beginning Stock Value 
  
 “Change in Stock Value” shall mean the Ending Stock Value minus the
Beginning Stock Value; “Beginning Stock Value” shall mean $100, invested in common stock at the closing price on the New York Stock Exchange, American Stock Exchange or Nasdaq, as the case may be, of one share of common stock for the last
trading day immediately prior to the first day of the Performance Period; “Ending Stock Value” shall mean the closing price on the New York Stock Exchange, American Stock Exchange or Nasdaq, as the case may be, of one share of common stock
for the last trading day immediately prior to the last day of the Performance Period, multiplied by the sum of the number of shares represented by the Beginning Stock Value initial $100 investment plus such additional shares resulting from all
dividends paid on common stock during the Performance Period being treated as though they are reinvested on the applicable ex-dividend dates at the applicable closing price on such dates. Shares used in determining Total Stockholder Return shall be
appropriately adjusted for stock splits and stock dividends during the Performance Period. 
  

 2 

 Following the Total Stockholder Return determination, the Company’s “Percentile Rank”
shall be determined as follows: 
  

					
	 Percentile
	  	 	  	 Total number of companies in Peer
Group (including the Company)
minus Company Rank

	 Rank
	  	=	  	Total number of companies in Peer
Group (excluding the Company)

  
 “Company
Rank” shall be determined by listing from highest Total Stockholder Return to lowest Total Stockholder Return each company in the Peer Group (including the Company) and counting down from the company with the highest Total Stockholder Return
(beginning with such company) to the Company’s position. 
  
 The percent of Base Number of RSRs earned shall then be determined based on the following chart: 
  

			
	 If

	 	 Percent of Base
Number of RSRs Earned

	Percentile Rank (“PR”) is less
than 25th percentile	 	Zero
		
	PR is equal to or greater than 25th
percentile; less than 50th
percentile	 	 Interpolate between:
 25th percentile = 30%
 50th percentile = 100%

		
	PR is equal to or greater than 50th
percentile; less than 100th
percentile	 	PR times 2, capped at 150%
		
	 Company Rank is number 1
	 	200%

  
 By way
of illustration only, an example applying the above performance measure to determine the number of RSRs earned utilizing a sample Peer Group of 16 companies (including the Company) is attached as Exhibit A hereto. 
  
 Following the lapse of such restrictions with respect to any
RSRs, the Company will issue you a certificate as provided in Section 2 of this Award Agreement for the Restricted Shares covered by such RSRs in redemption of such RSRs. 
  
 If the restrictions described in Section 4(b) do not lapse pursuant to the terms of this Section 5(a) prior
to the 66th day following the close of the Performance Period, all of your RSRs not otherwise earned pursuant to the terms of this Section 5(a) shall be forfeited to the Company and all of your rights to receive any Restricted Shares in the future
pursuant to such RSRs shall automatically terminate without any payment of consideration by the Company. 
  

 3 

 (b) Notwithstanding the provisions of subsection (a) of this Section 5, at the time of the occurrence of
any of the following events, the restrictions described in Section 4(b) shall lapse with respect to the number of RSRs that you would be entitled to as of the date of the occurrence of such event under the conditions described in Section 5(a) if the
Performance Period ended as of the date of the occurrence of such event: 
  
 (1) Your death or “Disability” (as defined in Section 10(c)); or 
  
 (2) Your Termination of Employment, but only if such Termination of Employment is the result of a dismissal or other action by the Company
or any of its Subsidiaries and does not constitute a “Termination for Cause” (as defined in Section 10(a)). 
  
 Notwithstanding the provisions of subsection (a) of this Section 5, the restrictions described in Section 4(b) shall lapse with respect to the Base Number
of RSRs at the time of the occurrence of a “Change of Control” (as defined in the Plan) of the Company. 
  
 Following the lapse of the restrictions described in Section 4(b), the Company will issue you a certificate as provided in Section 2 of this Award
Agreement for the Restricted Shares covered by such RSRs in redemption of such RSRs. 
  
 In the event of the occurrence of any of the above events described in this Section 5(b), your right to any other RSRs shall be forfeited to the Company and all of your rights to receive any Restricted Shares in the
future pursuant to such other RSRs shall automatically terminate without any payment of consideration by the Company. 
  
 6. Agreement With Respect to Taxes; Share Withholding. 
  
 (a) You agree that (1) you will pay to the Company or a Subsidiary, as the case may be, or make arrangements satisfactory to the Company or such
Subsidiary regarding the payment of, any foreign, federal, state, or local taxes of any kind required by law to be withheld by the Company or any of its Subsidiaries with respect to the RSRs awarded or the issuance of any Restricted Shares to you
and (2) the Company or any of its Subsidiaries shall, to the extent permitted by law, have the right to deduct from any payments of any kind otherwise due to you any foreign, federal, state, or local taxes of any kind required by law to be withheld
with respect to the RSRs awarded or Restricted Shares issued. 
  
 (b) With respect to withholding required upon the lapse of restrictions or upon any other taxable event arising as a result of the RSRs awarded or the issuance of Restricted Shares to you, you may elect, subject to the approval of the
committee of the Board of Directors of the Company that administers the Plan, to satisfy the withholding requirement, in whole or in part, by having the Company withhold Restricted Shares having a Fair Market Value on the date the tax is to be
determined equal to the minimum statutory total tax which could be withheld on the transaction. All such elections shall be irrevocable, made in writing, signed by you, and shall be subject to any restrictions or limitations that such committee, in
its sole discretion, deems appropriate. 
  

 4 

 7. Adjustment of Shares. In the event of any change affecting the shares of Common Stock of the
Company by reasons of any stock dividend or split, recapitalization, merger, consolidation, spin-off, combination or exchange of shares, or other corporate change, or any distributions to stockholders, the number of Restricted Shares subject to the
RSRs awarded to you under this Award Agreement shall be adjusted as provided in Section 12 of the Plan. 
  
 8. Agreement With Respect to Securities Matters. You agree that you will not sell or otherwise transfer any Restricted Shares received pursuant to
this Award Agreement except pursuant to an effective registration statement under the U.S. Securities Act of 1933, as amended, or pursuant to an applicable exemption from such registration. Unless a registration statement relating to the Restricted
Shares issuable upon the lapse of the restrictions on the RSRs pursuant to this Award Agreement is in effect at the time of issuance of such Restricted Shares, the certificate(s) for the Restricted Shares shall contain the following legend:

  
 The securities evidenced by this certificate have not been
registered under the U.S. Securities Act of 1933 or any other securities laws. These securities have been acquired for investment and may not be sold or transferred for value in the absence of an effective registration of them under the U.S.
Securities Act of 1933 and any other applicable securities laws, or receipt by the Company of an opinion of counsel or other evidence acceptable to the Company that such registration is not required under such acts. 
  
 9. Transfer Taxes. The Company shall pay all original issue and
transfer taxes with respect to the issue and transfer of the Restricted Shares to you pursuant to this Award Agreement and all other fees and expenses necessarily incurred by it in connection therewith. 
  
 10. Certain Definitions. As used in this Award Agreement, the
following terms shall have the respective meanings indicated: 
  
 (a) “Termination for Cause” shall mean a Termination of Employment as a result of (1) your willful and continued failure substantially to perform your duties (other than any such failure resulting from your
incapacity due to physical or mental illness), (2) your conviction for a felony, proven or admitted fraud, misappropriation, theft or embezzlement by you, your inebriation or use of illegal drugs in the course of, related to or connected with the
business of the Company or any of its Subsidiaries, or your willful engaging in misconduct that is materially injurious to the Company or any of its Subsidiaries, monetarily or otherwise, or (3) if you have entered into an employment agreement or
contract with the Company or any of its Subsidiaries, any other action or omission that is identified in such agreement or contract as giving rise to “Cause” for the termination of your employment with the Company or any of its
Subsidiaries. For this purpose, no act, or failure to act, on your part shall be considered “willful” unless done, or omitted, by you not in good faith and without reasonable belief that your action or omission was in the best interest of
Company or any of its Subsidiaries. 
  
 (b)
“Termination of Employment” shall mean the termination of your full-time employment with the Company or any of its Subsidiaries for any reason other than your death or Disability. 
  

 5 

 (c) “Disability” shall mean a physical or mental impairment of sufficient
severity such that, in the opinion of a physician selected by the Company, you are unable to continue to serve as an employee of the Company or any of its Subsidiaries. 
  
 (d) “Peer Group” shall mean those companies identified on Exhibit B hereto; provided, however, in
the event that a company in the Peer Group is no longer in existence or does not have a class of common stock that is listed on the New York Stock Exchange, American Stock Exchange or Nasdaq on the last day of the Performance Period (or on the last
day of Performance Period as so modified upon the occurrence of any of the events described in Section 5(b)(1) or 5(b)(2)), such company shall be replaced automatically with a company identified on Exhibit B hereto under the caption “Alternate
Companies for Peer Group,” in the order listed; provided, that the replacement company shall be in existence and its common stock so listed on the last day of the Performance Period being measured and the committee of the Board of Directors of
the Company that administers the Plan shall have not determined, in its sole discretion, that some unusual or extraordinary circumstance exists or has occurred that makes it inappropriate to include such replacement company in the Peer Group; and
provided, further, in the event that the Alternate Companies for Peer Group list has been exhausted, the committee of the Board of Directors of the Company that administers the Plan may, in its sole discretion, replace such company with another
company of its choosing or reduce the size of the Peer Group. 
  
 (e) “Performance Period” shall mean the period that commences on
                        , 200    , and ends on
                        , 200    . 
  
 If you accept this Restricted Stock Rights Award and agree to the foregoing
terms and conditions, please so confirm by signing and returning the duplicate copy of this Award Agreement enclosed for that purpose. 
  
 VINTAGE PETROLEUM, INC. 
  
 By:
                                        
                         
         Name:                             
                         
         Title:
                                        
               
  
 The foregoing Restricted Stock Rights Award is accepted by me as of
                            , 200    , and I hereby agree to the terms,
conditions, and restrictions set forth above and in the Plan. 
  

	
	___________________________________

  

 6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00069-of-00352.parquet"}]]