Document:

EX-4.1

 Exhibit 4.1 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of February 17, 2017 (the “Effective
Date”), is by and among Gulfport Energy Corporation, a Delaware corporation (the “Company”), and the holders of Common Stock listed on the signature page hereof. 

RECITALS 
 WHEREAS,
as of December 13, 2016, the Company entered into a Purchase and Sale Agreement by and among Vitruvian II Woodford, LLC, a Delaware limited liability company (“Vitruvian”), SCOOP Acquisition Company, LLC, a Delaware
limited liability company (“SCOOP”), and the Company, as amended pursuant to that certain Closing Agreement and Amendment dated February 17, 2017 by and among Vitruvian, SCOOP and the Company (as amended, the “Purchase
Agreement”); 
 WHEREAS, under the Purchase Agreement, the Holders will receive shares of common stock, par value $0.01 per
share, of the Company (the “Common Stock”); and 
 WHEREAS, resales by the Holders of the Common Stock may be
required to be registered under the Securities Act and applicable state securities laws, depending upon the status of a Holder or the intended method of distribution of the Common Stock.  

NOW, THEREFORE, in consideration of the premises, mutual covenants and agreements hereinafter contained and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:  
 ARTICLE I -
DEFINITIONS 
 1.1 Definitions. 

(a) For purposes of this Agreement, the following terms shall have the meanings specified in this Section 1.1; provided, however,
that capitalized terms used but not defined herein shall have the meaning ascribed to such terms in the Purchase Agreement. 

“Affiliate” means, with respect to any Person, any Person who, directly or indirectly through one or more intermediaries,
controls, is controlled by or is under common control with any Person. 
 “Automatic Shelf Registration Statement” means an
“Automatic Shelf Registration Statement,” as defined in Rule 405 under the Securities Act. 
 “Beneficial
Ownership” and terms of similar import shall be as defined under and determined pursuant to Rule 13d-3 promulgated under the Exchange Act. 

“Business Day” means any day other than (a) a Saturday, Sunday or a federal holiday, or (b) a day on which
commercial banks in New York City, New York are authorized or required to be closed. 

 “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any
similar federal statute, and the rules and regulations promulgated by the SEC thereunder. 
 “Excluded Registration” means a
registration under the Securities Act of (i) securities pursuant to one or more Demand Requests pursuant to Section 2.1 hereof, (ii) securities registered on Form S-8 or any similar successor form and (iii) securities
registered to effect the acquisition of or combination with another Person. 
 “Holder” means (i) a securityholder
listed on the signature page hereof and (ii) any direct or indirect transferee of any such securityholder, including any securityholder that receives shares of Common Stock upon a distribution or liquidation of a Holder, who has been assigned
the rights of the transferor Holder under this Agreement in accordance with Section 2.8. 
 “Person” or
“person” means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization or government or other agency or political subdivision thereof.

 “Prospectus” means the prospectus (including any preliminary, final or summary prospectus) included in any Registration
Statement, all amendments and supplements to such prospectus and all other material incorporated by reference in such prospectus. 

“Overnight Underwritten Offering” means an underwritten offering that is launched after the close of trading on one trading
day and priced before the open of trading on the next succeeding trading day. 
 “register,” “registered”
and “registration” refer to a registration effected by preparing and filing a Registration Statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such Registration Statement. 

“Registrable Securities” means, at any time, the Common Stock issued to the Holders pursuant to the Purchase Agreement,
including any shares of Common Stock which may be issued or distributed in respect of such shares of Common Stock by way of conversion, concession, stock dividend or stock split or other distribution, recapitalization or reclassification or similar
transaction; provided, however, that Registrable Securities shall cease to be Registrable Securities when (i) they have been distributed to the public pursuant to an offering registered under the Securities Act, or, following the
date that is three years after the Effective Date, they may legally be distributed to the public in one transaction pursuant to Rule 144 under the Securities Act, (ii) they have been distributed to the public pursuant to Rule 144 (or any
successor provision) under the Securities Act or (iii) they have been transferred or sold to any Person to whom the rights under this Agreement are not assigned in accordance with this Agreement. 

“Registration Expenses” means all expenses (other than Selling Expenses) arising from or incident to the Company’s
performance of or compliance with this Agreement, including, without limitation: (i) SEC, stock exchange, Financial Industry Regulatory Authority, Inc. and other registration and filing fees; (ii) all fees and expenses incurred in
connection with complying with any securities or blue sky laws (including, without limitation, fees, charges and disbursements of counsel in connection with blue sky qualifications of the Registrable

  
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Securities); (iii) all printing, messenger and delivery expenses; (iv) the fees, charges and disbursements of counsel to the Company and of its independent public accountants, reserve
engineers, and any other accounting and legal fees, charges and expenses incurred by the Company (including, without limitation, any expenses arising from any special audits or “comfort” letters required in connection with or incident to
any registration); (v) the fees and expenses incurred in connection with the listing of the Registrable Securities on The NASDAQ Stock Market LLC (or any other national securities exchange on which the Common Stock may then be listed) or the
quotation of Registrable Securities on any inter-dealer quotation system; (vi) the fees and expenses incurred by the Company in connection with any road show for underwritten offerings; and (vii) reasonable fees and expenses of counsel to
the Holders in connection with the filing or amendment of any Registration Statement or Prospectus hereunder; provided that, with respect to any offering, Registration Expenses shall only include such fees and expenses of one counsel to the
Holders (which, in each case, shall be chosen by the Holders of a majority of Registrable Securities to be included in such offering. 

“Registration Statement” means any registration statement of the Company that covers the resale of any Registrable Securities
pursuant to the provisions of this Agreement filed with, or to be filed with, the SEC under the rules and regulations promulgated under the Securities Act, including the related Prospectus, amendments and supplements to such registration statement,
including pre- and post-effective amendments, and all exhibits, financial information and all other material incorporated by reference in such registration statement or Prospectus. 

“Required Holders” means Holders who then own beneficially more than 50% of the aggregate number of shares of Common Stock
subject to this Agreement. 
 “Rule 144” means Rule 144 promulgated by the SEC pursuant to the Securities Act, as such rule
may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC as a replacement thereto having substantially the same effect as such rule. 

“Same-Day Offering” means an underwritten offering that is launched before the open of trading on one trading day and priced
before the open of trading or after the close of trading on such same trading day. 
 “SEC” means the Securities and
Exchange Commission or any other Federal agency at the time administering the Securities Act. 
 “Securities Act” means the
Securities Act of 1933, as amended, or any similar Federal statute, and the rules and regulations promulgated by the SEC thereunder. 

“Selling Expenses” means the underwriting fees, discounts and commissions, placement fees of underwriters, broker commissions
and any transfer taxes, in each case, applicable to all Registrable Securities registered by the Holders and legal expenses not included within the definition of Registration Expenses. 

“Shelf Registration Statement” means a “shelf” registration statement of the Company that covers all the Registrable
Securities (and may cover other securities of the Company) on Form S-3 and under Rule 415 under the Securities Act or, if the Company is not 

  
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then eligible to file on Form S-3, on Form S-1 or any other appropriate form under the Securities Act, or any successor rule that may be adopted by the SEC, including without limitation any such
registration statement filed pursuant to Section 2.1, and all amendments and supplements to such “shelf” registration statement, including post-effective amendments, in each case, including the Prospectus contained therein, all
exhibits thereto and any document incorporated by reference therein. 
 (b) For purposes of this Agreement, the following terms have the
meanings set forth in the sections indicated: 
  

			
	 Term
	  	 Section

	 Advice
	  	2.5
	 Agreement
	  	Introductory Paragraph
	 Blackout Period
	  	2.4(s)
	 Common Stock
	  	Recitals
	 Company
	  	Introductory Paragraph
	 Company Notice
	  	2.1(c)
	 Company Underwritten Offering
	  	2.3
	 Company Preemption
	  	2.1(i)
	 Demand Request
	  	2.1(c)
	 Effective Date
	  	Introductory Paragraph
	 Material Adverse Effect
	  	2.2(b)
	 Preemption Period
	  	2.1(i)
	 Purchase Agreement
	  	Recitals
	 Participating Majority
	  	2.1(d)
	 Records
	  	2.4(l)
	 Requesting Holder
	  	2.1(c)
	 Seller Affiliates
	  	2.7
	 Suspension Period
	  	2.1(f)
	 Suspension Notice
	  	2.5
	 Underwritten Shelf Takedown
	  	2.1(b)
	 Vitruvian
	  	Recitals

 1.2 Other Definitional and Interpretive Matters. Unless otherwise expressly provided or the
context otherwise requires, for purposes of this Agreement the following rules of interpretation apply. 
 (a) When calculating the period of
time before which, within which or following which any act is to be done or step taken pursuant to this Agreement, the date that is the reference date in calculating such period is excluded. If the last day of such period is a non-Business Day, the period in question ends on the next succeeding Business Day. 
 (b) Any reference in
this Agreement to $ means U.S. dollars. 
 (c) Any reference in this Agreement to gender includes all genders, and words imparting the
singular number also include the plural and vice versa. 

  
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 (d) The provision of a Table of Contents, the division of this Agreement into Articles, Sections
and other subdivisions and the insertion of headings are for convenience of reference only and do not affect, and should not be utilized in, the construction or interpretation of this Agreement. 

(e) All references in this Agreement to any “Article” or “Section” are to the corresponding Article or Section of this
Agreement. 
 (f) The words “herein,” “hereinafter,” “hereof,” and
“hereunder” refer to this Agreement as a whole and not merely to a subdivision in which such words appear unless the context otherwise requires. 

(g) The word “including” or any variation thereof means “including, but not limited to,” and does not
limit any general statement that it follows to the specific or similar items or matters immediately following it. 
 ARTICLE II -
REGISTRATION RIGHTS 
 2.1 Shelf Registration. 

(a) The Company will prepare, file (to the extent not previously filed) and use its reasonable best efforts to cause to become effective no
later than the 60th day following the Effective Date, a Shelf Registration Statement (which Shelf Registration Statement shall be an Automatic Shelf Registration Statement if the Company is then
eligible to file an Automatic Shelf Registration Statement), registering for resale the Registrable Securities under the Securities Act. The plan of distribution indicated in the Shelf Registration Statement will include all such methods of sale as
any Holder may reasonably request in writing at least five Business Days prior to the filing of the Shelf Registration Statement and that can be included in the Shelf Registration Statement under the rules and regulations of the SEC. Until the
earlier of (a) three years after the Effective Date or (b) such time as all Registrable Securities cease to be Registrable Securities or the Company is no longer eligible to maintain a Shelf Registration Statement, the Company shall use
its reasonable best efforts to keep current and effective such Shelf Registration Statement and file such supplements or amendments to such Shelf Registration Statement (or file a new Shelf Registration Statement (which Shelf Registration Statement
shall be an Automatic Shelf Registration Statement if the Company is then eligible to file an Automatic Shelf Registration Statement) when such preceding Shelf Registration Statement expires pursuant to the rules of the SEC) as may be necessary or
appropriate in order to keep such Shelf Registration Statement continuously effective and useable for the resale of all Registrable Securities under the Securities Act. Any Shelf Registration Statement when declared effective (including the
documents incorporated therein by reference) will comply in all material respects as to form with all applicable requirements of the Securities Act and the Exchange Act and will not contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein not misleading. 
 (b) Any one or more Holders of
Registrable Securities may request to sell all or any portion of their Registrable Securities in an underwritten offering that is registered pursuant to the Shelf Registration Statement (each, an “Underwritten Shelf Takedown”);

  
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provided, however, that in the case of each such Underwritten Shelf Takedown, such Holder or Holders will be entitled to make such demand only if the proceeds from the sale of
Registrable Securities in the Underwritten Shelf Takedown (before the deduction of underwriting discounts) is reasonably expected to exceed, in the aggregate, $100 million. Subject to the other limitations contained in this Agreement, the Company
will not be obligated hereunder to effect an Underwritten Shelf Takedown within 90 days after the closing of any Company Underwritten Offering (as defined below) or Underwritten Shelf Takedown. Subject to the terms and conditions of this Agreement,
the Holders shall be entitled to have two Underwritten Shelf Takedowns per calendar year effected pursuant to Demand Requests. 
 (c) All
requests (a “Demand Request”) for Underwritten Shelf Takedowns shall be made by the Holder or Holders making such request (the “Requesting Holder”) by giving written notice to the Company. Each Demand Request shall
specify the approximate number of Registrable Securities to be sold in the Underwritten Shelf Takedown and the expected price range of securities to be sold in such Underwritten Shelf Takedown. Within five Business Days after receipt of any Demand
Request, the Company shall send written notice of such requested Underwritten Shelf Takedown to all other Holders of Registrable Securities (the “Company Notice”) and shall include in such Underwritten Shelf Takedown all Registrable
Securities with respect to which the Company has received written requests for inclusion therein within five Business Days after sending the Company Notice. 

(d) The Company shall select one or more nationally prominent firms of investment bankers reasonably acceptable to the Participating Majority
to act as the managing underwriter or underwriters in connection with such Underwritten Shelf Takedown. The “Participating Majority” shall mean, with respect to any particular Underwritten Shelf Takedown, the Holder(s) of a majority
of the Registrable Securities requested to be included in such Underwritten Shelf Takedown. If requested by the managing underwriter(s) for an Underwritten Shelf Takedown, all Holders proposing to distribute their securities through such
underwriting shall enter into an underwriting agreement with such underwriter or underwriters in accordance with Section 2.1(g). The Company will ensure that members of senior management reasonably cooperate with the underwriter(s) in
connection with the Underwritten Shelf Takedown and make themselves reasonably available to participate in the marketing process in connection with the Underwritten Shelf Takedown as reasonably requested by the managing underwriter(s) and use
reasonable best efforts to provide such additional information reasonably requested by the managing underwriter(s) (in addition to the minimum information required by law, rule or regulation) in any prospectus relating to the Underwritten Shelf
Takedown. 
 (e) If the managing underwriter(s) for such Underwritten Shelf Takedown advise the Company and the participating Holders in
writing that, in their opinion, marketing factors require a limitation of the amount of securities to be underwritten (including Registrable Securities) because the amount of securities to be underwritten is likely to have an adverse effect on the
marketability of the offering, then the Company shall so advise all Holders of Registrable Securities which would otherwise be underwritten pursuant hereto, and the amount of Registrable Securities that may be included in the underwriting shall be
allocated among the participating Holders (i) first among the participating Holders as nearly as possible on a pro rata basis based on the total amount of Registrable Securities held by such Holders requested to be included in such
underwriting and (ii) second to the extent all Registrable Securities requested to 

  
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be included in such underwriting by the participating Holders have been included, to any securities to be included allocated on such basis as the Company shall determine to the extent that the
managing underwriter(s) have not advised the Company in writing that the inclusion of such securities is likely to have an adverse effect of the marketability of the offering. The Company shall prepare preliminary and final prospectus supplements
for use in connection with the Underwritten Shelf Takedown, containing such additional information as may be reasonably requested by the underwriter(s). 

(f) Upon written notice to the Holders of Registrable Securities, the Company shall be entitled to suspend, for a period of time (each, a
“Suspension Period”), the use of any Registration Statement or Prospectus and shall not be required to amend or supplement the Registration Statement, any related Prospectus or any document incorporated therein by reference if
(i) the Company receives any request by the SEC or any other federal or state governmental authority for amendments or supplements to such Registration Statement or Prospectus or for additional information that pertains to such Holders as
sellers of Registrable Securities; (ii) the SEC issues any stop order suspending the effectiveness of the Registration Statement covering any or all of the Registrable Securities or the initiation of any proceedings for that purpose;
(iii) the Company receives any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any
proceeding for such purpose; and (iv) the board of directors, chief executive officer or chief financial officer of the Company determines in its or his or her reasonable good faith judgment that the Registration Statement or any Prospectus may
contain an untrue statement of a material fact or may omit any fact necessary to make the statements in the Registration Statement or Prospectus not misleading; provided, that the Company shall use its good faith efforts to amend the
Registration Statement or Prospectus to correct such untrue statement or omission as promptly as reasonably practicable, unless the Company determines in good faith that such amendment would reasonably be expected to have a materially detrimental
effect on the Company. The Holders acknowledge and agree that written notice of any Suspension Period may constitute material non-public information regarding the Company and shall keep the existence and contents of any such written notice
confidential. 
 (g) If requested by the managing underwriter(s) for an Underwritten Shelf Takedown, the Company shall enter into an
underwriting agreement with the underwriters for such offering, such agreement to be in form and substance (including with respect to representations and warranties by the Company) as is customarily given by the Company to underwriters in an
underwritten public offering, and to contain indemnities generally to the effect and to the extent provided in Section 2.7. The Holders of Registrable Securities participating in the Underwritten Shelf Takedown shall be parties to such
underwriting agreement; provided, however, that no such Holder shall be required to make any representations or warranties in connection with any such registration or transfer, other than representations and warranties that, at such time,
(A) such Holder owns his, her or its Registrable Securities to be sold or transferred free and clear of all liens, claims and encumbrances, (B) such Holder has power and authority to effect such transfer or sale, (C) such transfer or
sale by such Holder contemplated by such underwriting agreement, and such Holder’s entry into such underwriting agreement, will not constitute a breach of any agreements to which such Holder is a party or by which such Holder is bound,
(D) such transfer or sale contemplated by such underwriting agreement, and such 

  
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Holder’s entry into such underwriting agreement, shall not constitute a breach or violation of such Holder’s organizational documents, if the Holder is an entity, or any law applicable
to such Holder and (E) such matters pertaining to compliance with securities laws as may be reasonably requested. No Holder may participate in the Underwritten Shelf Takedown unless such Holder agrees to sell its Registrable Securities on the
basis provided in such underwriting agreement and completes and executes all questionnaires, beneficial ownership information, powers of attorney, customary indemnities and other documents reasonably required by the managing underwriter(s) under the
terms of such underwriting agreement. Each participating Holder may, at its option, require that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement also be conditions precedent to its
obligations. 
 (h) Each of the Holders hereby agrees (i) to cooperate with the Company and to furnish to the Company all such
information regarding such Holder, its ownership of Registrable Securities and the disposition of such securities in connection with the preparation of the Registration Statement and any filings with any state securities commission as the Company
may reasonably request, (ii) to the extent required by the Securities Act, to deliver or cause delivery of the Prospectus contained in the Registration Statement, any amendment or supplement thereto, to any purchaser of Registrable Securities
covered by the Registration Statement from the Holder and (iii) if requested by the Company, to notify the Company of any sale of Registrable Securities by such Holder. 

(i) Notwithstanding anything to the contrary contained herein, after receiving a written request for an Underwritten Shelf Takedown, the
Company may elect to effect an underwritten primary registration or offering, as the case may be, for its own benefit in lieu of the Underwritten Shelf Takedown if the Company’s board of directors believes that such primary registration or
offering, as the case may be, would be in the best interests of the Company (each such election, a “Company Preemption”). If the Company so elects to effect a primary registration or offering, the Company shall give prompt written
notice (which shall be given not later than 5 days after the date of the Demand Request) to all Holders of its intention to effect such a registration or offering and shall afford the Holders the rights contained in Section 2.2 with
respect to a Piggyback Registration. In the event that the Company so elects to effect a primary registration or offering after receiving a request for an Underwritten Shelf Takedown, the Company shall use its reasonable best efforts to have the
Registration Statement declared effective by the SEC or undertake such Underwritten Shelf Takedown, as the case may be, as soon as reasonably practicable. If such Holders are unable to include all of the Registrable Securities requested to be
included in the Registration Statement pursuant to Section 2.2, the period of time from the initial written request for an Underwritten Shelf Takedown until the consummation of the Underwritten Shelf Takedown shall be deemed a
“Preemption Period”. The Company may exercise its right to a Company Preemption a maximum of one time per calendar year. 

2.2 Piggyback Registrations. 

(a) Each time the Company proposes to register any of its equity securities (other than pursuant to an Excluded Registration) under the
Securities Act for sale to the public and the form of registration statement to be used permits the registration of Registrable Securities, the Company shall give prompt written notice to each Holder of Registrable

  
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Securities (which notice shall be given not less than (i) ten days prior to the anticipated filing date or (ii) two Business Days in the case of an Overnight Underwritten Offering,
Same-Day Offering or similar “bought deal”), which notice shall offer each such Holder the opportunity to include any or all of its or his Registrable Securities in such registration statement, subject to the limitations contained in
Section 2.2(b) hereof. Each Holder who desires to have its or his Registrable Securities included in such registration statement shall so advise the Company in writing (stating the number of shares desired to be registered) within ten
days (or one Business Day in the case of an Overnight Underwritten Offering, Same-Day Offering or similar “bought deal”) after the date of such notice from the Company. Any Holder shall have the right to withdraw such Holder’s request
for inclusion of such Holder’s Registrable Securities in any registration statement pursuant to this Section 2.2(a) by giving written notice to the Company of such withdrawal. Subject to Section 2.2(b) below, the Company
shall include in such registration statement all such Registrable Securities so requested to be included therein; provided, however, that the Company may at any time withdraw or cease proceeding with any such registration if it shall at the same
time withdraw or cease proceeding with the registration of all other equity securities originally proposed to be registered. For the avoidance of doubt, any registration or offering pursuant to this Section 2.2 shall not be considered an
Underwritten Shelf Takedown for purposes of Section 2.1 of this Agreement. 
 (b) With respect to any registration pursuant to
Section 2.2(a), if the managing underwriter(s) advise the Company that the inclusion of Registrable Securities requested to be included in the Registration Statement will materially and adversely affect the marketability of the offering
(a “Material Adverse Effect”), the Company will be obligated to include in the Registration Statement (after all such shares for its own account), as to each Holder requesting registration pursuant to Section 2.2(a),
only a portion of the shares such Holder has requested be registered equal to the product of: (i) the ratio which such Holder’s requested shares bears to the total number of shares requested to be included in such Registration Statement by
all Persons (including Holders) who have requested (pursuant to this Agreement or other contractual registration rights) that their shares be included in such Registration Statement; and (ii) the maximum number of Registrable Securities that
the managing underwriter advises may be sold in an offering covered by the Registration Statement without a Material Adverse Effect. If, as a result of the provisions of this Section 2.2(b), any Holder shall not be entitled to include
all Registrable Securities in a registration that such Holder has requested to be so included, such Holder may withdraw such Holder’s request to include Registrable Securities in such Registration Statement. No Person may participate in any
Registration Statement pursuant to Section 2.2(a) unless such Person (i) agrees to sell such person’s Registrable Securities on the basis provided in any underwriting arrangements approved by the Company and (ii) completes
and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents, each in customary form, reasonably required under the terms of such underwriting arrangements; provided, however, that no such Person
shall be required to (A) make any representations or warranties in connection with any such registration other than representations and warranties as to (1) such Person’s ownership of his or its Registrable Securities to be sold or
transferred free and clear of all liens, claims and encumbrances, (2) such Person’s power and authority to effect such transfer and (3) such matters pertaining to compliance with securities laws as may be reasonably requested or
(B) undertake any indemnification obligations to the Company or the underwriters with respect thereto except as otherwise provided in Section 2.7. 

  
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 2.3 Holdback Agreement. By electing to include Registrable Shares in a Company
registration statement pursuant to Section 2.2, the Holder shall be deemed to have agreed not to effect any sale or distribution of securities of the Company of the same or similar class or classes of the securities included in the
Company registration statement or any securities convertible into or exchangeable or exercisable for such securities, including a sale pursuant to Rule 144, during such periods as reasonably requested (but in no event for a period longer than 90
days following (i) the effective date of such Company registration statement or (ii) the date of the applicable Prospectus; provided each of the executive officers and directors of the Company that hold shares of Common Stock of the
Company or securities convertible into or exchangeable or exercisable for shares of Common Stock of the Company are subject to the same restriction for the entire time period required of the Holders hereunder) by the representatives of the
underwriters, if an underwritten offering by the Company (a “Company Underwritten Offering”). The provisions of this Section 2.3 will no longer apply to a Holder once such Holder ceases to hold at least 5% of the
Registrable Securities acquired as a result of the transactions contemplated in the Purchase Agreement. Notwithstanding anything to the contrary set forth in this Section 2.3, (i) each Holder may sell or transfer any Registrable
Securities to any Affiliate of such Holder, so long as such Affiliate agrees to be and remains bound by this Section 2.3, (ii) Vitruvian may transfer any Registrable Securities to any of its members, so long as such member agrees to
be and remains bound by the this Section 2.3, (iii) each Holder may enter into a bona fide pledge of any Registrable Securities (and any foreclosure on any such pledge shall also be permitted), and (iv) any hedging transaction
with respect to an index or basket of securities where the equity securities of the Company constitute a de minimis amount shall not be prohibited pursuant to this Section 2.3. Notwithstanding anything to the contrary contained herein,
any hedging transaction by a Holder in existence as of the Effective Date with the equity securities of the Company shall be exempt from this Section 2.3. 

2.4 Registration Procedures. In connection with the registration and sale of Registrable Securities pursuant to this Agreement,
the Company will use its reasonable best efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended method of disposition thereof, and pursuant thereto the Company will: 

(a) if the Registration Statement is not automatically effective upon filing, use reasonable best efforts to cause such Registration Statement
to become effective as promptly as reasonably practicable; 
 (b) promptly notify each selling Holder, promptly after the Company receives
notice thereof, of the time when such Registration Statement has been declared effective or a supplement to any prospectus forming a part of such Registration Statement has been filed; 

(c) after the Registration Statement becomes effective, promptly notify each selling Holder of any request by the SEC that the Company amend or
supplement such Registration Statement or Prospectus; 
 (d) prepare and file with the SEC such amendments and supplements to the
Registration Statement and the Prospectus used in connection therewith as may be reasonably necessary to keep the Registration Statement effective during the period set forth in, and subject to the terms and conditions of, this Agreement, and to
comply with the provisions of the 

  
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Securities Act with respect to the disposition of all Registrable Securities covered by the Registration Statement for the period required to effect the distribution of the Registrable Securities
as set forth in Section 2 hereof; 
 (e) furnish to the selling Holders such numbers of copies of such Registration Statement,
each amendment and supplement thereto, each Prospectus (including each preliminary Prospectus and Prospectus supplement) and such other documents as the Holder and any underwriter(s) may reasonably request in order to facilitate the disposition of
the Registrable Securities; 
 (f) use its reasonable best efforts to register and qualify the Registrable Securities under such other
securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the Holders and any underwriter(s) and do any and all other acts and things that may be reasonably necessary or advisable to enable the Holders and any
underwriter(s) to consummate the disposition of the Registrable Securities in such jurisdictions; provided, however, that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business in or to file a
general consent to service of process in any jurisdiction, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act, or subject itself to taxation in any such jurisdiction, unless the
Company is already subject to taxation in such jurisdiction; 
 (g) use its reasonable best efforts to cause all such Registrable Securities
to be listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar equity securities issued by the Company are then listed; 

(h) provide a transfer agent and registrar for the Registrable Securities and provide a CUSIP number for all such Registrable Securities, in
each case not later than the effective date of the Registration Statement; 
 (i) use its reasonable best efforts to furnish, on the date
that shares of Registrable Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters, (i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of such
registration, in form and substance as is customarily given to underwriters by the Company in an underwritten public offering, addressed to the underwriters, (ii) a letter dated as of such date, from the independent public accountants of the
Company, in form and substance as is customarily given by independent public accountants to underwriters in an underwritten public offering, addressed to the underwriters and (iii) an engineers’ reserve report letter as of such date, from
the independent petroleum engineers of the Company, in form and substance as is customarily given by independent petroleum engineers to underwriters in an underwritten public offering, addressed to the underwriters; 

(j) if requested by the Holders, cooperate with the Holders and the managing underwriter(s) (if any) to facilitate the timely preparation and
delivery of certificates (which shall not bear any restrictive legends unless required under applicable law) representing securities sold under the Registration Statement, and enable such securities to be in such denominations and registered in such
names as such Holders or the managing underwriter (if any) may request and keep available and make available to the Company’s transfer agent prior to the effectiveness of such Registration Statement a supply of such certificates; 

  
 11 

 (k) in the event of any underwritten public offering, enter into and perform its obligations
under an underwriting agreement, in form and substance as is customarily given by the Company to underwriters in an underwritten public offering, with the underwriter(s) of such offering; 

(l) upon execution of confidentiality agreements in form and substance reasonably satisfactory to the Company, promptly make available for
inspection by the selling Holders, any underwriter(s) participating in any disposition pursuant to such Registration Statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling Holders, all
financial and other records, pertinent corporate documents, and properties of the Company reasonably requested (collectively, “Records”), and use reasonable best efforts to cause the Company’s officers, directors, employees,
and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant, or agent, in each case, as necessary or advisable to verify the accuracy of the information in such Registration
Statement and to conduct appropriate due diligence in connection therewith; provided, that Records that the Company determines, in good faith, to be confidential and that it notifies the selling Holders are confidential shall not be disclosed
by the selling Holders unless the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction or is otherwise required by applicable law. Each Holder agrees that information obtained by it
as a result of such inspections shall be deemed confidential and shall not be used by it or its affiliates (other than with respect to such Holders’ due diligence) unless and until such information is made generally available to the public, and
further agrees that, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, to the extent permitted and to the extent practicable it shall give notice to the Company and allow the Company to undertake
appropriate action to prevent disclosure of the Records deemed confidential; 
 (m) promptly notify the selling Holders and any
underwriter(s) of the notification to the Company by the SEC of its initiation of any proceeding with respect to the issuance by the SEC of any stop order suspending the effectiveness of the Registration Statement, and in the event of the issuance
of any stop order suspending the effectiveness of such Registration Statement, or of any order suspending or preventing the use of any related Prospectus or suspending the qualification of any Registrable Securities included in such Registration
Statement for sale in any jurisdiction, use its reasonable best efforts to obtain promptly the withdrawal of such order; 
 (n) promptly
notify the selling Holders and any underwriter(s) at any time when a Prospectus relating thereto is required to be delivered under the Securities Act of the occurrence of any event as a result of which the Prospectus included in the Registration
Statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances under which they
were made, and at the request of any Holder promptly prepare and furnish to such Holder a reasonable number of copies of a supplement to or an amendment of such Prospectus, or a revised Prospectus, as may be necessary

  
 12 

 
so that, as thereafter delivered to the purchasers of such securities, such Prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading in light of the circumstances under which they were made (following receipt of any supplement or amendment to any Prospectus, the selling Holders shall deliver such amended,
supplemental or revised Prospectus in connection with any offers or sales of Registrable Securities, and shall not deliver or use any Prospectus not so supplemented, amended or revised); 

(o) promptly notify the selling Holders and any underwriter(s) of the receipt by the Company of any notification with respect to the suspension
of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction; 
 (p) make
available to each Holder (i) promptly after the same is prepared and publicly distributed, filed with the SEC, or received by the Company, one copy of each Registration Statement and any amendment thereto, each preliminary Prospectus and
Prospectus and each amendment or supplement thereto, each letter written by or on behalf of the Company to the SEC or the staff of the SEC (or other governmental agency or self-regulatory body or other body having jurisdiction, including any
domestic or foreign securities exchange), and each item of correspondence from the SEC or the staff of the SEC (or other governmental agency or self-regulatory body or other body having jurisdiction, including
any domestic or foreign securities exchange), in each case relating to such Registration Statement, and (ii) such number of copies of each Prospectus, including a preliminary Prospectus, and all amendments and supplements thereto and such other
documents as any Holder or any underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities. The Company will promptly notify the Holders of the effectiveness of each Registration Statement or any
post-effective amendment or the filing of any supplement or amendment to such Registration Statement or of any Prospectus supplement. The Company will promptly respond to any and all comments received from the SEC, with a view towards causing
each Registration Statement or any amendment thereto to be declared effective by the SEC as soon as practicable and shall file an acceleration request, if necessary, as soon as practicable following the resolution or clearance of all SEC comments
or, if applicable, following notification by the SEC that any such Registration Statement or any amendment thereto will not be subject to review; 

(q) take no direct or indirect action prohibited by Regulation M under the Exchange Act; provided, that, to the extent that any
prohibition is applicable to the Company, the Company will take all reasonable action to make any such prohibition inapplicable; 
 (r) take
such other actions as are reasonably necessary in order to facilitate the disposition of such Registrable Securities; and 
 (s)
notwithstanding any other provision of this Agreement, the Company shall not be required to file a Registration Statement (or any amendment thereto) or effect a requested Underwritten Shelf Takedown (or, if the Company has filed a Shelf Registration
Statement and has included Registrable Securities therein, the Company shall be entitled to suspend the offer and sale of Registrable Securities pursuant to such Registration Statement) for a period of up to 60 days if (i) the board of
directors determines that a postponement is in the best interest of the Company and its stockholders generally due to a proposed transaction involving the Company 

  
 13 

 
(including a pending securities offering by the Company), (ii) the board of directors determines such registration would render the Company unable to comply with applicable securities laws
or (iii) the board of directors determines such registration would require disclosure of material information that the Company has a bona fide business purpose for preserving as confidential (any such period, a “Blackout
Period”); provided, however, that in no event shall any Blackout Period together with any Suspension Period and any Preemption Period exceed an aggregate of 120 days in any 12-month period. 

2.5 Suspension of Dispositions. Each Holder agrees by acquisition of any Registrable Securities that, upon receipt of any notice
(a “Suspension Notice”) from the Company of the occurrence of any event of the kind described in Section 2.4(f), Section 2.4(n) or Section 2.4(s) such Holder will forthwith discontinue disposition
of Registrable Securities pursuant to the Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus, or until it is advised in writing (the “Advice”) by the Company that the use
of the Prospectus may be resumed, and has received copies of any additional or supplemental filings which are incorporated by reference in the Prospectus. The Company shall extend the period of time during which the Company is required to
maintain the Registration Statement effective pursuant to this Agreement by the number of days during the period from and including the date of the giving of such Suspension Notice to and including the date such Holder either receives the
supplemented or amended Prospectus or receives the Advice. If so directed by the Company, such Holder will deliver to the Company all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering
such Registrable Securities current at the time of receipt of such notice. The Company shall use its reasonable best efforts and take such actions as are reasonably necessary to render the Advice as promptly as practicable. The Holders
acknowledge and agree that receipt of a Suspension Notice may constitute material non-public information regarding the Company and shall keep the existence and contents of any such Suspension Notice confidential. 

2.6 Registration Expenses. All Registration Expenses shall be borne by the Company. In addition, for the avoidance of doubt, the
Company shall pay its internal expenses in connection with the performance of or compliance with this Agreement (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the
expense of any annual audit or quarterly review, the expense of any liability insurance and the expenses and fees for listing the securities to be registered on each securities exchange on which they are to be listed. All Selling Expenses relating
to Registrable Securities registered shall be borne by the Holders of such Registrable Securities pro rata on the basis of the number of Registrable Securities sold. 

2.7 Indemnification. 

(a) The Company agrees to indemnify and reimburse, to the fullest extent permitted by law, each Holder that is a seller of Registrable
Securities, and each of its employees, advisors, agents, representatives, partners, officers, and directors and each Person who controls such Holder (within the meaning of the Securities Act or the Exchange Act) (collectively, the “Seller
Affiliates”) (i) against any and all losses, claims, damages, liabilities and expenses, joint or several (including, without limitation, attorneys’ fees and disbursements except as limited by Section 2.7(c)) based
upon, arising out of, related to or resulting from any 

  
 14 

 
untrue or alleged untrue statement of a material fact contained in any Registration Statement or Prospectus or any amendment thereof or supplement thereto, or any omission or alleged omission of
a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) against any and all losses, liabilities, claims, damages and expenses whatsoever, as incurred, to the extent of the aggregate amount
paid in settlement of any litigation or investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon, arising out of, related to or resulting from any such untrue statement or
omission or alleged untrue statement or omission, and (iii) against any and all costs and expenses (including reasonable fees, charges and disbursements of counsel) as may be reasonably incurred in investigating, preparing or defending against
any litigation, investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon, arising out of, related to or resulting from any such untrue statement or omission or alleged untrue
statement or omission, or such violation of the Securities Act or Exchange Act, to the extent that any such expense or cost is not paid under subparagraph (i) or (ii) above; except insofar as any such statements are made in reliance upon
information furnished to the Company in writing by such seller or any Seller Affiliate expressly for use therein; provided, further, that the Company shall not be liable for a Holder’s failure to deliver or cause to be delivered
(to the extent such deliver is required under the Securities Act) the prospectus contained in the Registration Statement, furnished to it by the Company on a timely basis at or prior to the time such action is required by the Securities Act to the
person claiming a material misstatement or omission that gave rise to indemnification under this Section 2.7(a) if such misstatement or omission was corrected in such prospectus. The reimbursements required by this
Section 2.7(a) will be made by periodic payments during the course of the investigation or defense, as and when bills are received or expenses incurred. 

(b) In connection with any Registration Statement in which a Holder that is a seller of Registrable Securities is participating, each such
Holder will furnish to the Company such information and affidavits as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus and, to the fullest extent permitted by law, each such seller will
indemnify the Company and its directors and officers and each Person who controls the Company (within the meaning of the Securities Act or the Exchange Act) against any and all losses, claims, damages, liabilities and expenses (including, without
limitation, reasonable attorneys’ fees and disbursements except as limited by Section 2.7(c)) resulting from any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, Prospectus or
any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or alleged
untrue statement or omission or alleged omission is contained in any information or affidavit so furnished by such seller or any of its Seller Affiliates in writing specifically for inclusion in the Registration Statement; provided that the
obligation to indemnify will be several, not joint and several, among such sellers of Registrable Securities, and the liability of each such seller of Registrable Securities will be in proportion to the amount of Registrable Securities registered by
them, and, provided, further, that such liability will be limited to the net amount received by such seller from the sale of Registrable Securities pursuant to such Registration Statement; provided, however, that such seller of
Registrable Securities shall not be liable in any such case to the extent that prior to the filing of any such Registration Statement or Prospectus, such seller has furnished to the Company information expressly for use in such Registration
Statement or Prospectus or any amendment thereof or supplement thereto which corrected or made not misleading information previously furnished to the Company. 

  
 15 

 (c) Any Person entitled to indemnification hereunder will (i) give prompt written notice to
the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give such notice shall not limit the rights of such Person) and (ii) unless in such indemnified party’s reasonable judgment a
conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party;
provided, however, that any Person entitled to indemnification hereunder shall have the right to employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense
of such Person unless (A) the indemnifying party has agreed to pay such fees or expenses or (B) the indemnifying party shall have failed to assume the defense of such claim and employ counsel reasonably satisfactory to such Person.
If such defense is not assumed by the indemnifying party as permitted hereunder, the indemnifying party will not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent will not be
unreasonably withheld, conditioned or delayed). If such defense is assumed by the indemnifying party pursuant to the provisions hereof, such indemnifying party shall not settle or otherwise compromise the applicable claim unless (i) such
settlement or compromise contains a full and unconditional release of the indemnified party or (ii) the indemnified party otherwise consents in writing (which consent will not be unreasonably withheld, conditioned or delayed). An
indemnifying party who is not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified (which shall be chosen by the Holders of a majority of
Registrable Securities so indemnified) by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party, a conflict of interest may exist between such indemnified party and any other of such
indemnified parties with respect to such claim, in which event the indemnifying party shall be obligated to pay the reasonable fees and disbursements of such additional counsel or counsels. 

(d) Each party hereto agrees that, if for any reason the indemnification provisions contemplated by Section 2.7(a) or
Section 2.7(b) are unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities or expenses (or actions in respect thereof) referred to therein, then each indemnifying party
shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, liabilities or expenses (or actions in respect thereof) in such proportion as is appropriate to reflect the relative fault of the
indemnifying party and the indemnified party in connection with the actions which resulted in the losses, claims, damages, liabilities or expenses as well as any other relevant equitable considerations. The relative fault of such indemnifying
party and indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by such
indemnifying party or indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and
equitable if contribution pursuant to this Section 2.7(d) were determined by pro rata allocation (even if the Holders or any underwriters or all of them were treated as one entity for such purpose) or by any

  
 16 

 
other method of allocation which does not take account of the equitable considerations referred to in this Section 2.7(d). The amount paid or payable by an indemnified party as
a result of the losses, claims, damages, liabilities or expenses (or actions in respect thereof) referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such indemnified party in connection with
investigating or, except as provided in Section 2.7(c), defending any such action or claim. Notwithstanding the provisions of this Section 2.7(d), no Holder shall be required to contribute an amount greater than the
dollar amount by which the net proceeds received by such Holder with respect to the sale of any Registrable Securities exceeds the amount of damages which such Holder has otherwise been required to pay by reason of any and all untrue or alleged
untrue statements of material fact or omissions or alleged omissions of material fact made in any Registration Statement or Prospectus or any amendment thereof or supplement thereto related to such sale of Registrable Securities. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations
in this Section 2.7(d) to contribute shall be several in proportion to the amount of Registrable Securities registered by them and not joint. 

If indemnification is available under this Section 2.7, the indemnifying parties shall indemnify each indemnified party to the full
extent provided in Section 2.7(a) and Section 2.7(b) without regard to the relative fault of said indemnifying party or indemnified party or any other equitable consideration provided for in this Section 2.7(d)
subject, in the case of the Holders, to the limited dollar amounts set forth in Section 2.7(b). 
 (e) No indemnifying party
shall be liable for any settlement effected without its written consent (which consent may not be unreasonably delayed or withheld). Each indemnifying party agrees that it will not, without the indemnified party’s prior written consent, consent
to entry of any judgment or settle or compromise any pending or threatened claim, action or proceeding in respect to which indemnification or contribution may be sought hereunder unless the foregoing contains and unconditional release, in form and
substance reasonably satisfactory to the indemnified parties, of the indemnified parties from all liability and obligation arising therefrom. 

(f) The indemnification and contribution provided for under this Agreement will remain in full force and effect regardless of any investigation
made by or on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and will survive the transfer of securities. 

2.8 Transfer of Registration Rights. The registration rights of a Holder under this Agreement with respect to any Registrable
Securities may be transferred or assigned to any purchaser or transferee of Registrable Securities; provided, however, that (i) such Holder shall give the Company written notice prior to the time of such transfer stating the
name and address of the transferee and identifying the securities with respect to which the rights under this Agreement are being transferred; (ii) such transferee shall agree in writing, in form and substance reasonably satisfactory to the
Company, to be bound as a Holder by the provisions of this Agreement; and (iii) immediately following such transfer the further disposition of such securities by such transferee shall be restricted to the extent set forth under applicable law.

  
 17 

 2.9 Current Public Information. With a view to making available to the Holders of
Registrable Securities the benefits of Rule 144 and Rule 144A promulgated under the Securities Act and other rules and regulations of the SEC that may at any time permit a Holder of Registrable Securities to sell securities of the Company to the
public without registration, the Company covenants that it will (i) for as long as the Common Stock is registered pursuant to Section 12(b), Section 12(g) or Section 15(d) of the Exchange Act, use its reasonable best efforts to
file in a timely manner all reports and other documents required, if any, to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted thereunder and (ii) if it is not required to file such reports, make
available information necessary to comply with Rule 144 and Rule 144A, if available with respect to resales of the Registrable Securities under the Securities Act, at all times, all to the extent required from time to time to enable such Holder to
sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by (x) Rule 144 and Rule 144A promulgated under the Securities Act (if available with respect to resales of the
Registrable Securities), as such rules may be amended from time to time or (y) any other rules or regulations now existing or hereafter adopted by the SEC. 

2.10 Company Obligations Regarding Transfers. In connection with any sale or transfer of Registrable Securities by any Holder,
including any sale or transfer pursuant to Rule 144 and Rule 144A promulgated under the Securities Act and other rules and regulations of the SEC that may at any time permit a Holder of Registrable Securities to sell securities of the Company to the
public without registration, the Company shall, to the extent allowed by law, take any and all action necessary or reasonably requested by such Holder in order to permit or facilitate such sale or transfer, including, without limitation, at the sole
expense of the Company, by (i) issuing such directions to any transfer agent, registrar or depositary, as applicable, (ii) delivering such opinions to the transfer agent, registrar or depositary as are customary for the transaction of this
type and are reasonably requested by the same, and (iii) taking or causing to be taken such other actions as are reasonably necessary (in each case on a timely basis) in order to cause any legends, notations or similar designations restricting
transferability of the Registrable Securities held by such Holder to be removed and to rescind any transfer restrictions (other than as may apply pursuant to Section 2.3) with respect to such Registrable Securities; provided,
however, that such Holder shall deliver to the Company, in form and substance reasonably satisfactory to the Company, representation letters regarding such Holder’s compliance with Rule 144 or Rule 144A, as may be applicable. 

2.11 No Conflict of Rights. The Company represents and warrants that it has not granted, and is not subject to, any registration
rights that are superior to, inconsistent with or that in any way violate or subordinate the rights granted to the Holders hereby. The Company shall not, prior to the termination of this Agreement, grant any registration rights that are superior to,
inconsistent with or that in any way violate or subordinate to the rights granted to the Holders hereby. 
 2.12 Free Writing
Prospectuses. The Company shall not permit any officer, director, underwriter, broker or any other person acting on behalf of the Company to use any free writing prospectus (as defined in Rule 405 under the Securities Act) in connection with
any registration statement covering Registrable Securities, without the prior written consent of each participating Holder and any underwriter. No Holder shall, or permit any officer, manager, underwriter,

  
 18 

 
broker or any other person acting on behalf of such Holder to use any free-writing prospectus in connection with any registration statement covering Registrable Securities, without the prior
written consent of the Company. 
 ARTICLE III - TERMINATION 

3.1 Termination. The provisions of this Agreement shall terminate and be of no further force and effect upon the date when there
shall no longer be any Registrable Securities outstanding. 
 ARTICLE IV - MISCELLANEOUS 

4.1 Notices. Any notice or other communication required or permitted hereunder shall be in writing and shall be delivered by
hand, by facsimile transmission or electronic mail transmission, or by certified or registered mail, postage prepaid and return receipt requested. Notices shall be deemed to have been given upon delivery, if delivered by hand, three days after
mailing, if mailed, and upon receipt of an appropriate electronic confirmation, if delivered by facsimile or electronic mail transmission. Notices shall be delivered to the parties at the addresses set forth below: 

 

			
		  	If to the Company:
		
		  	 Gulport Energy Corporation
 3001 Quail Springs
Parkway
 Oklahoma City, Oklahoma 73134
 Attention: Aaron
Gaydosik
 Facsimile: 405-848-8816
 Email:
agaydosik@gulfportenergy.com

		
	 With copies to (which shall not constitute notice):
	  	 Akin Gump Strauss Hauer & Feld LLP
 1700
Pacific Avenue Suite 4100
 Dallas, Texas 75201
 Attention: Seth
R. Molay
 Facsimile: (214) 969-4343
 Email:
smolay@akingump.com

		
	 If to any Holder, at its address listed on the signature pages hereof.
	  	
		
	 With copies to (which shall not constitute notice):
	  	 Vinson & Elkins L.L.P.
 1001 Fannin Street,
Suite 2500
 Houston, Texas 77002
 Attention: John B. Connally
IV
 Facsimile: 713-615-5333
 Email:
jconnally@velaw.com

  
 19 

 Any party may from time to time change its address or designee for notification purposes by
giving the other parties prior notice in the manner specified above of the new address or the new designee and the subsequent date upon which the change shall be effective. 

4.2 Choice of Law; Exclusive Jurisdiction; Waiver of Jury Trial. 

(a) This Agreement shall be constructed, interpreted and enforced in accordance with, and the respective rights and obligations of the parties
shall be governed by, the laws of the State of Delaware without regard to principles of conflicts of law. 
 (b) All actions and proceedings
for the enforcement of or based on, arising out of or relating to this Agreement shall be heard and determined exclusively in the Delaware Court of Chancery (or, only if the Delaware Court of Chancery declines to accept jurisdiction over the
particular matter, any other court of the State of Delaware, or any federal court sitting in the State of Delaware), and each of the parties hereto hereby (i) irrevocably submits to the exclusive jurisdiction of such courts (and, in the case of
appeals, appropriate appellate courts therefrom) in any such action or proceeding, (ii) irrevocably waives the defense of an inconvenient forum to the maintenance of any such action or proceeding, (iii) agrees that it shall not bring any
such action in any court other than the Court of Chancery of the State of Delaware (or, only if the Delaware Court of Chancery declines to accept jurisdiction over the particular matter, any other court of the State of Delaware, or any federal court
sitting in the State of Delaware), and (iv) irrevocably consents to service of process by first class certified mail, return receipt requested, postage prepaid, to the address at which the Company or Holder, as the case may be, is to receive
notice in accordance with Section 4.1. The parties hereto agree that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
by applicable law. 
 (c) Each of the parties hereto hereby irrevocably waives any and all rights to trial by jury in any legal proceeding
arising out of or related to this Agreement. 
 4.3 No Third-Party Beneficiaries. This Agreement is for the sole benefit of
the parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever, under or
by reason of this Agreement; provided, however, the parties hereto hereby acknowledge that the Persons set forth in Section 2.7 are express third-party beneficiaries of the obligations of the parties hereto set forth in
Section 2.7. 
 4.4 Successors and Assigns. Except as otherwise expressly provided herein, this Agreement shall be
binding upon and benefit the Company, each Holder and their respective successors and assigns. The Company shall not, directly or indirectly, enter into any merger, consolidation or reorganization in which the Company shall not be the surviving
entity unless the surviving entity shall, prior to such merger, consolidation or reorganization, agree in writing to assume the obligations of the Company under this Agreement, and for that purpose references hereunder to “Registrable
Securities” shall be deemed to include the common equity interests or other securities, if any, which the Holders would be entitled to receive in exchange for Registrable Securities under any such merger, consolidation or reorganization,
provided that, to the extent the Holders receive securities that are by their terms convertible into common equity 

  
 20 

 
interests of the issuer thereof, then any such common equity interests as are issued or issuable upon conversion of said convertible securities shall be included within the definition of
“Registrable Securities.” 
 4.5 Counterparts. This Agreement may be executed by the parties in separate
counterparts (including by means of executed counterparts delivered via facsimile or other electronic means), each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

4.6 Severability. In case any provision in this Agreement shall be held invalid, illegal or unenforceable in any respect for any
reason, the validity, legality and enforceability of any such provision in every other respect and the remaining provisions shall not in any way be affected or impaired thereby. 

4.7 No Waivers; Amendments. 

(a) No failure or delay on the part of the Company or any Holder in exercising any right, power or remedy hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The remedies provided for herein are cumulative and are
not exclusive of any remedies that may be available to the Company or any Holder at law or in equity or otherwise. 
 (b) Any provision of
this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing and is signed by the Company and the Required Holders. 

4.8 Entire Agreement. This Agreement and the other writings referred to herein or therein or delivered pursuant hereto or
thereto, contain the entire agreement between the Holders and the Company with respect to the subject matter hereof and supersede all prior and contemporaneous arrangements or understandings with respect thereto. 

4.9 Remedies; Specific Performance. 

(a) Each Holder shall have all rights and remedies reserved for such Holder pursuant to this Agreement and all rights and remedies which such
Holder has been granted at any time under any other agreement or contract and all of the rights which such Holder has under any law or equity. Any Person having any rights under any provision of this Agreement will be entitled to enforce such rights
specifically, to recover damages by reason of any breach of any provision of this Agreement and to exercise all other rights granted by law or equity. 

(b) The parties hereto recognize and agree that money damages may be insufficient to compensate the Holders of any Registrable Securities for
breaches by the Company of the terms hereof and, consequently, that the equitable remedies of injunctive relief and of specific performance of the terms hereof will be available in the event of any such breach. If any action should be brought in
equity to enforce any of the provisions of this Agreement, none of the parties hereto shall raise the defense that there is an adequate remedy at law. 

  
 21 

 4.10 Negotiated Agreement. This Agreement was negotiated by the parties with the
benefit of legal representation, and any rule of construction or interpretation otherwise requiring this Agreement to be construed or interpreted against any party shall not apply to the construction or interpretation hereof. 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK] 

  
 22 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as of the date first written above. 
  

			
	GULFPORT ENERGY CORPORATION
		
	By:	 	 /s/ Lester Zitkus

	Name:	 	Lester Zitkus
	Title:	 	Vice President, Land

 Signature Page to and Registration Rights Agreement 

  

			
	VITRUVIAN II WOODFORD, LLC
		
	By:	 	 /s/ Richard F. Lane

	Name:	 	Richard F. Lane
	Title:	 	President & Chief Executive Officer
	  
 Address:

 
 Vitruvian II Woodford, LLC

4 Waterway Square, Suite 400
 The Woodlands, Texas 77380

Attn: W. Mark Blumenshine
 E-mail: mark.blumenshine@vexpl.com

Copy to:
  

Vitruvian II Woodford, LLC
 4 Waterway Square, Suite 400

The Woodlands, Texas 77380
 Attn: Brian Rickmers

E-mail: brian.rickmers@vexpl.com

 Signature Page to and Registration Rights AgreementExhibit 10.1

 

 

CHARLES & COLVARD, LTD.

2017 SENIOR MANAGEMENT EQUITY INCENTIVE
PROGRAM

 

Adopted February 23, 2017

 

The Charles & Colvard 2017 Senior Management Equity Incentive
Program (the “Program”) is a compensatory program established pursuant to the Charles & Colvard, Ltd. 2008 Stock
Incentive Plan (the “2008 Plan”). The Compensation Committee (the “Committee”) of the Board of Directors
of Charles & Colvard Ltd. (the “Company”) is charged with administering the Program. The Program covers performance-based
restricted stock awards for Company personnel at the level of Vice-President and above (the “Eligible Employees”).

 

The Program supersedes and replaces all prior long-term incentive
plans or programs for all periods commencing on or after January 1, 2017.

 

Purpose and Objective

 

The Program is intended to further strengthen the Company’s
pay for performance philosophy and more closely align the Eligible Employees’ long-term interests with those of the Company
and its shareholders by granting Eligible Employees significant long-term equity compensation awards. In addition, the Program
provides for a mixture of both performance-based and time-based vesting to permit the Committee to tie vesting of equity compensation
awards under the 2008 Plan to the attainment of specific performance measures under the 2008 Plan while also encouraging the longer-term
retention of Eligible Employees.

 

Description of Awards

 

Under this Program, the Committee has granted Eligible Employees
restricted stock awards with both performance and service measures. Achievement of an Eligible Employee’s performance measures
shall be measured by the Committee as follows: (1) 50% of each restricted stock award will be based on the achievement of shared
Company goals regarding revenue, EBITDA and departmental budgets (the “Company Measures”) and (2) 50% of each restricted
stock award will be based on the achievement of individual performance goals (the “Personal Measures”), both for the
period from January 1, 2017 to December 31, 2017 (the “Performance Measurement Period”). The Company must achieve 100%
of the Company Measures in order for 50% vesting of the restricted stock award. For the remaining 50% vesting of the restricted
stock award, an Eligible Employee may achieve from 0% to 100% of his or her Personal Measures, and 50% of the amount of his/her
restricted stock award shall be reduced by any performance that is measured below 100% accordingly. If certain EBITDA or revenue
thresholds are not achieved, 100% of the restricted stock awards will be forfeited. The Personal Measures and Company Measures
are determined by the Committee and may be modified by the Committee during, and after the end of, the Performance Measurement
Period to reflect extraordinary, unusual, or nonrecurring events that occur during the restriction period as permitted by the 2008
Plan. In addition, an Eligible Employee must remain in continuous service until February 23, 2018 for restrictions to fully lapse.

 

     

     

    

 

Under this Program, the Committee has granted the following
restricted stock awards:

 

	Position	Maximum Amount of Shares Subject to 

Restricted Stock Award
	Chief Executive Officer	150,000
	Chief Financial Officer 	75,000
	Vice President(s)	35,000

 

The Program provides the Committee discretion to make additional
equity compensation awards above the targeted award level in recognition of extraordinary performance.

 

Committee Discretion in Granting Awards and Administering
the Program for Future Employees

 

Any person who commences employment with the Company after January
1, 2017 may be designated an Eligible Employee for purposes of the Program for such fiscal year at the discretion of the Committee
and receive a pro-rated number of restricted shares.

 

Source of Equity Compensation Awards; Coordination with 2008
Plan

 

All awards granted pursuant to the Program shall be issued under
and pursuant to the 2008 Plan. All terms, conditions, and requirements of the 2008 Plan are expressly incorporated into the Program
by reference. All awards granted pursuant to the Program shall be evidenced by an appropriate Award Agreement in the form approved
by the Committee for use under the 2008 Plan, and each award hereunder shall be subject to the terms and conditions set forth in
the applicable Award Agreement and the 2008 Plan. To the extent there is any conflict or ambiguity between the terms of this Program
and the 2008 Plan or between this Program and any applicable Award Agreement, the terms of the 2008 Plan or the applicable Award
Agreement shall control.

 

Amendment and Termination of the Program 

 

The Program may be amended or terminated at any time by the
Committee or the Company’s Board of Directors. The Committee shall have unilateral authority to amend the Program and any
award granted pursuant to the Program (without the recipient’s consent) to the extent necessary to comply with applicable
laws, rules, or regulations or changes to applicable laws, rules, or regulations (including but not limited to Section 409A of
the Internal Revenue Code of 1986, as amended, federal securities laws, or related regulations or other guidance).

 

Withholding; Tax Matters 

 

In accordance with the terms of the 2008 Plan and applicable
Award Agreements thereunder, the Company shall withhold, or shall require the recipient to pay the Company in cash, the amount
of any local, state, federal, foreign, or other tax or other amount required by any governmental authority to be withheld and paid
over by the Company to such authority for the account of the recipient. The Company makes no warranties or representations with
respect to the tax consequences (including but not limited to income tax consequences) related to the transactions contemplated
by this Program and the 2008 Plan. A recipient should consult with his/her own attorney, accountant, and/or tax advisor regarding
the decision to accept equity compensation awards under the Program and the consequences thereof. The Company has no responsibility
to take or refrain from taking any actions in order to achieve a certain tax result for any recipient.

 

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