Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

TAX RECEIVABLE AGREEMENT 

by and between 

ROSEHILL RESOURCES INC., 

TEMA OIL AND GAS COMPANY, 

AND 
 AGENT 

DATED AS OF APRIL 27, 2017 

 TABLE OF CONTENTS 

 

					
	 Article I DEFINITIONS
	  	 	2	 
		
	 Section 1.1 Definitions
	  	 	2	 
	 Section 1.2 Other Definitional and Interpretative Provisions
	  	 	10	 
		
	 Article II DETERMINATION OF CERTAIN REALIZED TAX BENEFITS
	  	 	10	 
		
	 Section 2.1 Basis Adjustment Schedules
	  	 	10	 
	 Section 2.2 Tax Benefit Payment Schedules
	  	 	10	 
	 Section 2.3 Procedure; Amendments
	  	 	11	 
		
	 Article III TAX BENEFIT PAYMENTS
	  	 	12	 
		
	 Section 3.1 Payments
	  	 	12	 
	 Section 3.2 No Duplicative Payments
	  	 	13	 
	 Section 3.3 Pro Rata Payments
	  	 	13	 
		
	 Article IV TERMINATION
	  	 	14	 
		
	 Section 4.1 Early Termination at Election of the Corporate Taxpayer
	  	 	14	 
	 Section 4.2 Breach of Agreement
	  	 	14	 
	 Section 4.3 Early Termination Notice
	  	 	15	 
	 Section 4.4 Payment upon Early Termination
	  	 	15	 
		
	 Article V SUBORDINATION AND LATE PAYMENTS
	  	 	16	 
		
	 Section 5.1 Subordination
	  	 	16	 
	 Section 5.2 Late Payments by the Corporate Taxpayer
	  	 	16	 
		
	 Article VI NO DISPUTES; CONSISTENCY; COOPERATION; APPROVALS
	  	 	16	 
		
	 Section 6.1 Participation in the Corporate Taxpayer’s and Rosehill LLC’s Tax
Matters
	  	 	16	 
	 Section 6.2 Consistency
	  	 	17	 
	 Section 6.3 Cooperation
	  	 	17	 
	 Section 6.4 Section 754 Election to be Filed
	  	 	17	 
	 Section 6.5 Approvals
	  	 	17	 
		
	 Article VII MISCELLANEOUS
	  	 	17	 
		
	 Section 7.1 Notices
	  	 	18	 
	 Section 7.2 Counterparts
	  	 	19	 
	 Section 7.3 Entire Agreement; No Third Party Beneficiaries
	  	 	19	 
	 Section 7.4 Governing Law
	  	 	19	 
	 Section 7.5 Severability
	  	 	19	 
	 Section 7.6 Successors; Assignment
	  	 	20	 
	 Section 7.7 Amendments; Waivers
	  	 	21	 
	 Section 7.8 Titles and Subtitles
	  	 	21	 
	 Section 7.9 Resolution of Disputes
	  	 	21	 
	 Section 7.10 Reconciliation
	  	 	22	 
	 Section 7.11 Withholding
	  	 	23	 

  
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	 Section 7.12 Admission of the Corporate Taxpayer into a Consolidated Group; Transfers of Corporate
Assets
	  	 	23	 
	 Section 7.13 Confidentiality
	  	 	24	 
	 Section 7.14 Post-Closing TRAs
	  	 	25	 
	 Section 7.15 Change in Law
	  	 	26	 

  
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 TAX RECEIVABLE AGREEMENT 

This TAX RECEIVABLE AGREEMENT (this “Agreement”), dated as of April 27, 2017, is hereby entered into by and among
Rosehill Resources Inc. (formerly KLR Energy Acquisition Corp.), a Delaware corporation (the “Corporate Taxpayer”), the TRA Holders and the Agent. 

RECITALS 
 WHEREAS, the
Corporate Taxpayer is the managing member of Rosehill Operating Company, LLC, a Delaware limited liability company (“Rosehill LLC”), an entity classified as a partnership for U.S. federal income tax purposes, and holds limited
liability company interests in Rosehill LLC; 
 WHEREAS, Rosehill LLC and each of its direct and indirect Subsidiaries that is treated as a
partnership for U.S. federal income tax purposes will have in effect an election under Section 754 of the Internal Revenue Code of 1986, as amended (the “Code”), for each Taxable Year in which an Exchange occurs, which election
is expected to result, with respect to the Corporate Taxpayer, in an adjustment to the Tax basis of the assets owned by Rosehill LLC and such Subsidiaries; 

WHEREAS, for U.S. federal and applicable state income Tax purposes, (i) Rosemore, the tax owner of the initial TRA Holder, Tema Oil and
Gas Company, a Maryland corporation (“Tema”), will be treated as contributing the Reference Assets to Rosehill LLC in exchange for Units, the assumption of liabilities related to the Reference Assets and the distribution of cash and
Class B Shares, and (ii) such contribution and distribution together are intended to qualify for nonrecognition of gain or loss pursuant to Section 721 of the Code, except to the extent characterized as a disguised sale transaction
described in Section 707(a)(2)(B) of the Code with respect to any amounts treated as a transfer of consideration pursuant to Treasury Regulation Section 1.707-3(a)(1) (which, for the avoidance of doubt, excludes any part of the cash or
Class B Shares received as a reimbursement of preformation expenditures within the meaning of Treas. Reg. § 1.707-4(d)) (any such disguised sale, a “Disguised Sale”) or to the extent gain is required to be recognized by the TRA
Holder pursuant to Section 731(a)(1) of the Code (an “Excess Distribution”); 
 WHEREAS, if there were a Disguised
Sale or Excess Distribution, as a result of such Disguised Sale or Excess Distribution the Corporate Taxpayer would be expected to obtain or be entitled to certain Tax benefits as further described herein; 

WHEREAS, the TRA Holders may transfer all or a portion of their Units pursuant to the Exchange Right or the Call Right, as applicable, in a
transaction that is or is deemed to be a sale of such Units to the Corporate Taxpayer for U.S. federal income tax purposes (each such transfer, an “Exchange”), and as a result of such Exchanges, the Corporate Taxpayer is expected to
obtain or be entitled to certain Tax benefits as further described herein; 
 WHEREAS, this Agreement is intended to set forth the
agreements among the parties hereto regarding the sharing of the Tax benefits realized by the Corporate Taxpayer as a result of the Basis Adjustment Events (as defined herein); 

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

DEFINITIONS 

Section 1.1 Definitions. As used in this Agreement, the terms set forth in this Article I shall have the following meanings
(such meanings to be equally applicable to both the singular and plural forms of the terms defined). 
 “Accrued Amount”
has the meaning set forth in Section 3.1(b) of this Agreement. 
 “Actual Tax Liability” means, with respect to
any Taxable Year, the actual liability for U.S. federal income Taxes of the Corporate Taxpayer (taking into account, for the avoidance of doubt, any deduction attributable to Imputed Interest for the Taxable Year); provided that the actual
liability for U.S. federal income Taxes of the Corporate Taxpayer shall be calculated assuming deductions of (and other impacts of) state income Taxes are excluded. 

“Advisory Firm” means PricewaterhouseCoopers LLP, or another accounting or law firm that is nationally recognized as being
expert in tax matters, approved by each of the Corporate Taxpayer and the Agent. 
 “Advisory Firm Letter” means a letter
from the Advisory Firm stating that the relevant schedule, notice or other information to be provided by the Corporate Taxpayer to the Agent and all supporting schedules and work papers were prepared in a manner consistent with the terms of this
Agreement and, to the extent not expressly provided in this Agreement, on a reasonable basis in light of the facts and law in existence on the date such schedule, notice or other information is delivered to the Agent. The cost of any Advisory Firm
Letter to be provided hereunder shall be borne equally by the Corporate Taxpayer, on the one hand, and the TRA Holders, on the other hand; provided, that the Corporate Taxpayer shall not be required to pay more than $50,000 in Advisory Firm
Letter costs in the aggregate during each calendar year. 
 “Affiliate” means, with respect to any Person, any other Person
that directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control with, such first Person. 

“Agent” means Tema or such other Person designated as such pursuant to Section 7.6(c). 

“Agreed Rate” means a per annum rate of LIBOR plus 300 basis points. 

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

“Amended Schedule” has the meaning set forth in Section 2.3(b) of this Agreement. 

“Assumed State and Local Tax Rate” means (a) the sum of the products of (i) the Corporate Taxpayer’s income
and franchise tax apportionment rate(s) for each state and local jurisdiction in which Rosehill LLC (or any of its direct or indirect subsidiaries that are treated as a partnership or disregarded entity) or the Corporate Taxpayer files an income or
franchise tax 

  
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return for the relevant Taxable Year and (ii) the highest corporate income and franchise tax rate(s) for each state and local jurisdiction in which Rosehill LLC (or any of its direct or
indirect subsidiaries that are treated as pass-through entities) or the Corporate Taxpayer files an income or franchise tax return for each relevant Taxable Year, reduced by (b) the product of (i) the Corporate Taxpayer’s
marginal U.S. federal income tax rate for the relevant Taxable Year and (ii) the rate calculated under clause (a). 

“Attributable” has the meaning set forth in Section 3.1(b) of this Agreement. 

“Basis Adjustment” means (a) one hundred percent (100%) of any adjustment to the Tax basis of a Reference Asset as
a result of any Disguised Sale or Excess Distribution and the payments made pursuant to this Agreement with respect to any Disguised Sale or Excess Distribution (as calculated under Section 2.1 of this Agreement), including, but not
limited to, under Sections 734(b) and 1012 of the Code, and (b) one hundred percent (100%) of any adjustment to the Tax basis of a Reference Asset as a result of an Exchange and the payments made pursuant to this Agreement with respect to
such Exchange (as calculated under Section 2.1 of this Agreement), including, but not limited to: (i) under Sections 734(b) and 743(b) of the Code (in situations where, following an Exchange, Rosehill LLC remains classified as a
partnership for U.S. federal income tax purposes); and (ii) under Sections 732(b), 734(b) and 1012 of the Code (in situations where, as a result of one or more Exchanges, Rosehill LLC becomes an entity that is disregarded as separate from its
owner for U.S. federal income tax purposes). For the avoidance of doubt, the amount of any Basis Adjustment resulting from an Exchange of Units shall be determined without regard to any Section 743(b) adjustment attributable to such Units prior
to such Exchange; and, further, payments made under this Agreement shall not be treated as resulting in a Basis Adjustment to the extent such payments are treated as Imputed Interest. 

“Basis Adjustment Date” means each date on which a Basis Adjustment Event occurs. 

“Basis Adjustment Events” means and any and all Exchanges, any Disguised Sale and any Excess Distribution. 

“Basis Adjustment Schedule” has the meaning set forth in Section 2.1 of this Agreement. 

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

“Board” means the board of directors of the Corporate Taxpayer. 

“Business Combination Agreement” means the Business Combination Agreement, dated as of December 20, 2016, by and among
the Corporate Taxpayer and Tema. 
 “Business Day” means Monday through Friday of each week, except that a legal holiday
recognized as such by the government of the United States of America or the State of Texas shall not be regarded as a Business Day. 

  
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 “Call Right” has the meaning set forth in the Rosehill LLC Agreement. 

“Change of Control” means the occurrence of any of the following events: 

(i) any Person (other than Tema and its respective Permitted Transferees) or any group of Persons acting together which would constitute a
“group” for purposes of Section 13(d) of the Exchange Act of 1934, or any successor provisions thereto (other than any “group” for purposes of Section 13(d) of the Securities Exchange Act of 1934, or any successor
provisions thereto, which includes Tema and its respective Permitted Transferees) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Corporate Taxpayer representing more than fifty percent (50%) of the combined
voting power of the Corporate Taxpayer’s then outstanding voting securities; 
 (ii) the following individuals cease for any reason to
constitute a majority of the number of directors of the Corporate Taxpayer then serving: individuals who were directors of the Corporate Taxpayer on the Closing Date and any new director (other than a director whose initial assumption of office is
in connection with an actual or threatened election contest, including but not limited to a consent solicitation, relating to the election of directors of the Corporate Taxpayer) whose appointment or election by the Board or nomination for election
by the Corporate Taxpayer’s stockholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors of the Corporate Taxpayer on the Closing Date or whose appointment,
election or nomination for election was previously so approved or recommended by the directors referred to in this clause (ii); 
 (iii)
there is consummated a merger or consolidation of the Corporate Taxpayer with any other corporation or other entity, and, immediately after the consummation of such merger or consolidation, either (A) the members of the Board immediately prior
to the merger or consolidation do not constitute at least a majority of the members of the board of directors of the company surviving the merger or, if the surviving company is a Subsidiary, the ultimate parent thereof, or (B) the voting
securities of the Corporate Taxpayer immediately prior to such merger or consolidation do not continue to represent or are not converted into more than 50% of the combined voting power of the then outstanding voting securities of the Person
resulting from such merger or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof; 
 (iv) the
stockholders of the Corporate Taxpayer approve a plan of complete liquidation or dissolution of the Corporate Taxpayer or there is consummated an agreement or series of related agreements for the sale or other disposition, directly, or indirectly,
by the Corporate Taxpayer of all or substantially all of the Corporate Taxpayer’s assets, other than such sale or other disposition by the Corporate Taxpayer of all or substantially all of the Corporate Taxpayer’s assets to an entity, at
least fifty percent (50%) of the combined voting power of the voting securities of which are owned by stockholders of the Corporate Taxpayer in substantially the same proportions as their ownership of the Corporate Taxpayer immediately prior to
such sale. 
 Notwithstanding the foregoing, except with respect to clause (ii) and clause (iii)(A) above, a “Change of
Control” shall not be deemed to have occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of the shares of the Corporate Taxpayer immediately prior to such

  
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transaction or series of transactions continue to have substantially the same proportionate ownership in, and own substantially all of the shares of, an entity which owns, either directly or
through a Subsidiary, all or substantially all of the assets of the Corporate Taxpayer immediately following such transaction or series of transactions. 

“Class B Shares” means the Class B common stock of the Corporate Taxpayer. 

“Closing Date” has the meaning set forth in the Recitals of the Business Combination Agreement. 

“Code” has the meaning set forth in the Recitals of this Agreement. 

“Control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and
policies of a Person, whether through ownership of voting securities, by contract or otherwise. 
 “Corporate Taxpayer” has
the meaning set forth in the preamble to this Agreement. 
 “Corporate Taxpayer Return” means the U.S. federal income Tax
Return of the Corporate Taxpayer (including any consolidated group of which the Corporate Taxpayer is a member, as further described in Section 7.12(a) of this Agreement) filed with respect to any Taxable Year. 

“Cumulative Net Realized Tax Benefit” for a Taxable Year means the cumulative amount (but not less than zero) of Realized Tax
Benefits for all Taxable Years of the Corporate Taxpayer, up to and including such Taxable Year, net of the cumulative amount of Realized Tax Detriments for the same period. The Realized Tax Benefit and Realized Tax Detriment for each Taxable Year
shall be determined based on the most recent Tax Benefit Payment Schedule or Amended Schedule, if any, in existence at the time of such determination. 

“Default Rate” means a per annum rate of LIBOR plus 550 basis points. 

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

“Disguised Sale” has the meaning set forth in the Recitals of this Agreement. 

“Dispute” has the meaning set forth in Section 7.9(a) of this Agreement. 

“Disputing Party” has the meaning set forth in Section 7.10 of this Agreement. 

“Early Termination” has the meaning set forth in Section 4.1 of this Agreement. 

“Early Termination Date” means the date of an Early Termination Notice for purposes of determining the Early Termination
Payment. 
 “Early Termination Effective Date” has the meaning set forth in Section 4.3 of this Agreement. 

“Early Termination Notice” has the meaning set forth in Section 4.3 of this Agreement. 

  
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 “Early Termination Objection Notice” has the meaning set forth in
Section 4.3 of this Agreement. 
 “Early Termination Payment” has the meaning set forth in
Section 4.4(b) of this Agreement. 
 “Early Termination Rate” means a per annum rate of LIBOR plus 150 basis
points. 
 “Early Termination Schedule” has the meaning set forth in Section 4.3 of this Agreement. 

“Excess Distribution” has the meaning set forth in the Recitals of this Agreement. 

“Exchange” has the meaning set forth in the Recitals of this Agreement. 

“Exchange Right” means the right set forth in Section 4.6 of the Rosehill LLC Agreement. 

“Expert” means Grant Thornton LLP or such nationally recognized expert in the particular area of disagreement as is mutually
acceptable to both parties. 
 “Family Group” has the meaning set forth in the definition of “Permitted
Transferee”. 
 “Hypothetical Tax Liability” means, with respect to any Taxable Year, the liability for U.S. federal
income Taxes of the Corporate Taxpayer (using the same methods, elections, conventions, U.S. federal income tax rate and similar practices used on the relevant Corporate Taxpayer Return), but without taking into account (i) any Basis
Adjustments and (ii) any deduction attributable to Imputed Interest for the Taxable Year. For the avoidance of doubt, Hypothetical Tax Liability shall be determined without taking into account the carryover or carryback of any U.S. federal
income Tax item (or portions thereof) that is attributable to any Basis Adjustments and Imputed Interest. Furthermore, the Hypothetical Tax Liability shall be calculated assuming deductions of (and other impacts of) state and local income and
franchise Taxes are excluded. 
 “Imputed Interest” means any interest imputed under Section 1272, 1274 or 483 or
other provision of the Code with respect to the Corporate Taxpayer’s payment obligations under this Agreement. 

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

“LIBOR” means during any period, an interest rate per annum equal to the one-year LIBOR rate reported, on the date two
(2) calendar days prior to the first day of such period, on the Telerate Page 3750 (or if such screen shall cease to be publicly available, as reported on Reuters Screen page “LIBOR01” or by any other publicly available source of such
market rate) for London interbank offered rates for United States dollar deposits for such period. 
 “Net Tax Benefit” has
the meaning set forth in Section 3.1(b) of this Agreement. 
 “Objection Notice” has the meaning set forth in
Section 2.3(a) of this Agreement. 
 “Owners” has the meaning set forth in the definition of “Permitted
Transferee”. 

  
 6 

 “Payment Date” means any date on which a payment is required to be made pursuant
to this Agreement. 
 “Permitted Transferee” means, with respect to any TRA Holder, (a) its Affiliates (including, in
the case of any TRA Holder that is an entity, any distribution by such Person to its members, partners or shareholders (the “Owners”), and any related distributions by the Owners to their respective members, partners or
shareholders) and (b) in the case of an individual, any member of its Family Group. For purposes hereof, “Family Group” means for any individual, such individual’s current or former spouse, their respective parents,
descendants of such parents (whether natural or adopted) and the spouses of such descendants, and any trust, limited partnership, corporation or limited liability company established solely for the benefit of such individual or such
individual’s current or former spouse, their respective parents, descendants of such parents (whether natural or adopted) or the spouses of such descendants. 

“Person” means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust,
business association, organization, governmental entity or other entity. 
 “Protection Period” has the meaning set forth
in Section 6.5 of this Agreement. 
 “Realized Tax Benefit” means, for a Taxable Year, the sum of (i) the
excess, if any, of the Hypothetical Tax Liability over the Actual Tax Liability and (ii) the State and Local Tax Benefit. If all or a portion of the Actual Tax Liability for the Taxable Year arises as a result of an audit by the IRS of any
Taxable Year, such liability shall not be included in determining the Realized Tax Benefit unless and until there has been a Determination. 

“Realized Tax Detriment” means, for a Taxable Year, the sum of (i) the excess, if any, of the Actual Tax Liability over
the Hypothetical Tax Liability and (ii) the State and Local Tax Detriment. If all or a portion of the Actual Tax Liability for the Taxable Year arises as a result of an audit by the IRS of any Taxable Year, such liability shall not be included
in determining the Realized Tax Detriment unless and until there has been a Determination. 
 “Reconciliation Dispute” has
the meaning set forth in Section 7.10 of this Agreement. 
 “Reconciliation Procedures” means the procedures
described in Section 7.10 of this Agreement. 
 “Reference Asset” means, with respect to any Basis Adjustment
Event, an asset (other than cash or a cash equivalent) that is held (or acquired) by Rosehill LLC, or any of its direct or indirect Subsidiaries that is treated as a partnership or disregarded entity for U.S. federal income tax purposes (but only to
the extent such Subsidiaries are not held through any entity treated as a corporation for U.S. federal income tax purposes), at the time of (or as a result of) such Basis Adjustment Event. A Reference Asset also includes any asset that is
“substituted basis property” under Section 7701(a)(42) of the Code with respect to a Reference Asset. 
 “Rosehill
LLC” has the meaning set forth in the Recitals of this Agreement. 
 “Rosehill LLC Agreement” means the First
Amended and Restated Limited Liability Company Agreement of Rosehill LLC, as amended from time to time. 

  
 7 

 “Rosemore” means Rosemore, Inc., a Maryland corporation. 

“Schedule” means any of the following: (i) a Basis Adjustment Schedule, (ii) a Tax Benefit Payment Schedule, or
(iii) the Early Termination Schedule. 
 “Senior Obligations” has the meaning set forth in Section 5.1 of
this Agreement. 
 “State and Local Tax Benefit” means, for a Taxable Year, the excess, if any, of the Hypothetical Tax
Liability over the Actual Tax Liability; provided that, for purposes of determining the State and Local Tax Benefit, each of the Hypothetical Tax Liability and the Actual Tax Liability shall be calculated using the Assumed State and Local Tax
Rate instead of the rate applicable for U.S. federal income tax purposes. 
 “State and Local Tax Detriment” means, for a
Taxable Year, the excess, if any, of the Actual Tax Liability over the Hypothetical Tax Liability; provided that, for purposes of determining the State and Local Tax Detriment, each of the Actual Tax Liability and the Hypothetical Tax
Liability shall be calculated using the Assumed State and Local Tax Rate instead of the rate applicable for U.S. federal income tax purposes. 

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

“Tax Benefit Payment” has the meaning set forth in Section 3.1(b) of this Agreement. 

“Tax Benefit Payment Schedule” has the meaning set forth in Section 2.2 of this Agreement. 

“Tax Proceeding” has the meaning set forth in Section 6.1 of this Agreement. 

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

“Taxable Year” means a taxable year of the Corporate Taxpayer as defined in Section 441(b) of the Code (which, for the
avoidance of doubt, may include a period of less than twelve (12) months for which a Tax Return is made), ending on or after the date hereof. 

“Taxes” means any and all U.S. federal, state and local taxes, assessments or similar charges that are based on or measured
with respect to net income or profits, and any interest related to such Tax. 
 “Taxing Authority” means any federal,
national, state, county or municipal or other local government, any subdivision, agency, commission or authority thereof, or any quasi-governmental body exercising any taxing authority or any other authority exercising Tax regulatory authority. 

“Tema” has the meaning set forth in the Recitals of this Agreement. 

  
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 “TRA Holder” means Tema and its successors and permitted assigns pursuant to
Section 7.6(a) of this Agreement. 
 “Transferor” has the meaning set forth in Section 7.12(b) of
this Agreement. 
 “Treasury Regulations” means the final, temporary and proposed regulations under the Code promulgated
from time to time (including corresponding provisions and succeeding provisions) as in effect for the relevant Taxable Year. 

“Units” has the meaning set forth in the Rosehill LLC Agreement. 

“Valuation Assumptions” means, as of an Early Termination Date or following a Change of Control, as applicable, the
assumptions that (i) in each Taxable Year ending on or after such Early Termination Date, the Corporate Taxpayer will have taxable income sufficient to fully utilize the deductions arising from all Basis Adjustments and the Imputed Interest
during such Taxable Year or future Taxable Years (including, for the avoidance of doubt, Basis Adjustments and Imputed Interest that would result from future Tax Benefit Payments that would be paid in accordance with the Valuation Assumptions,
further assuming such future Tax Benefit Payments would be paid on the due date, without extensions, for filing the Corporate Taxpayer Return for the applicable Taxable Year) in which such deductions would become available, (ii) any loss or
credit carryovers generated by deductions or losses arising from any Basis Adjustment or Imputed Interest (including such Basis Adjustment and Imputed Interest generated as a result of payments made under this Agreement) that are available in the
Taxable Year that includes the Early Termination Date will be fully utilized by the Corporate Taxpayer on a pro rata basis over a five year period beginning on the Early Termination Date, (iii) the U.S. federal, state and local income and
franchise tax rates that will be in effect for each Taxable Year ending on or after such Early Termination Date will be those specified for each such Taxable Year by the Code and other law as in effect on the Early Termination Date, and all taxable
income of the Corporate Taxpayer will be subject to the maximum applicable rates for taxes throughout the relevant period, (iv) except as provided in clause (vi) below, any non-amortizable Reference Assets (including, without limitation,
undeveloped property) to which any Basis Adjustment is attributable will be disposed of in a fully taxable transaction for U.S. federal income tax purposes on the earlier of (A) the fifteenth anniversary of the Basis Adjustment Event which gave
rise to such Basis Adjustment, as applicable, or (B) the Early Termination Date, (v) if, at the Early Termination Date, there are Units that have not been transferred in an Exchange, then all Units shall be deemed to be transferred
pursuant to the Exchange Right effective on the Early Termination Date, and (vi) for purposes of calculating depletion deductions and resulting reductions in adjusted tax basis with respect to depletable properties held by Rosehill LLC and its
Subsidiaries that are treated as disregarded entities or partnerships for U.S. federal tax purposes, (A) the remaining recoverable reserves with respect to each such property are equal to the recoverable reserves estimated in the most recent
reserve report relating to such property (or, if there is no reserve report with respect to such property, the most recent estimate of recoverable reserves with respect to such property which is reflected in the financial records of Rosehill LLC)
and (B) Rosehill LLC (or such Subsidiaries) will recover the remaining recoverable reserves with respect to each such depletable property within the time estimated and at the rate reflected in the most recent reserve reports relating to such
property (or, if there is no reserve report with respect to such property, the most recent estimate of the rate of recovery of recoverable reserves with respect to such property which is reflected in the financial records of Rosehill LLC). 

  
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 Section 1.2 Other Definitional and Interpretative Provisions. The words
“hereof,” “herein” and “hereunder” and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. References to Articles, Sections,
Exhibits and Schedules are to Articles, Sections, Exhibits and Schedules of this Agreement unless otherwise specified. All Exhibits and Schedules annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if
set forth in full herein. Any capitalized terms used in any Exhibit or Schedule but not otherwise defined therein, shall have the meaning as defined in this Agreement. Any singular term in this Agreement shall be deemed to include the plural, and
any plural term the singular. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation,” whether or not they are
in fact followed by those words or words of like import. “Writing,” “written” and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible form. References to any
agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms thereof. References to any Person include the successors and permitted assigns of that Person. References
from or through any date mean, unless otherwise specified, from and including or through and including, respectively. 
 ARTICLE II

 DETERMINATION OF CERTAIN REALIZED TAX BENEFITS 

Section 2.1 Basis Adjustment Schedules. Within ninety (90) calendar days after the filing of the U.S. federal income Tax
Return of the Corporate Taxpayer for each Taxable Year in which any Basis Adjustment Event occurs, the Corporate Taxpayer shall deliver to the Agent a schedule (the “Basis Adjustment Schedule”) that shows, in reasonable detail
necessary to perform the calculations required by this Agreement, including with respect to each TRA Holder participating in the Basis Adjustment Event during such Taxable Year, (i) the actual tax basis of the Reference Assets as of each
applicable Basis Adjustment Date, (ii) the Basis Adjustments with respect to the Reference Assets as a result of the Basis Adjustment Event effected by such TRA Holder in such Taxable Year and (iii) the period (or periods) over which such
Basis Adjustments are amortizable and/or depreciable. At the time the Corporate Taxpayer delivers the Exchange Basis Schedule to the Agent, it shall (x) deliver to the Agent an Advisory Firm Letter supporting such Exchange Basis Schedule,
(y) provide to the Agent schedules and work papers providing reasonable detail regarding the preparation of the Exchange Basis Schedule and (z) allow the Agent and its representatives reasonable access at no cost to the appropriate
representatives of the Corporate Taxpayer, Rosehill LLC and the Advisory Firm in connection with its review of such schedule. 

Section 2.2 Tax Benefit Payment Schedules. 

(a) Within ninety (90) calendar days after the filing of the U.S. federal income Tax Return of the Corporate Taxpayer for any Taxable Year
in which there is a Realized Tax Benefit or Realized Tax Detriment, the Corporate Taxpayer shall provide to the Agent: (i) a schedule 

  
 10 

 
showing, in reasonable detail, (A) the calculation of the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year, (B) the portion of the Net Tax Benefit, if any, that is
Attributable to each TRA Holder who has participated in the Basis Adjustment Event, (C) the Accrued Amount with respect to any such Net Tax Benefit that is Attributable to such TRA Holder, (D) the Tax Benefit Payment due to each such TRA
Holder, and (E) the portion of such Tax Benefit Payment that the Corporate Taxpayer intends to treat as Imputed Interest (a “Tax Benefit Payment Schedule”), (ii) a reasonably detailed calculation by the Corporate Taxpayer
of the Hypothetical Tax Liability, (iii) a reasonably detailed calculation by the Corporate Taxpayer of the Actual Tax Liability, (iv) any other work papers reasonably requested by the Agent, and (v) an Advisory Firm Letter supporting
such Tax Benefit Payment Schedule. In addition, the Corporate Taxpayer shall allow the Agent and its representatives reasonable access at no cost to the appropriate representatives of the Corporate Taxpayer, Rosehill LLC and the Advisory Firm in
connection with a review of such Tax Benefit Payment Schedule. The Tax Benefit Payment Schedule will become final as provided in Section 2.3(a) and may be amended as provided in Section 2.3(b) (subject to the procedures set
forth in Section 2.3(b)). 
 (b) The Realized Tax Benefit or Realized Tax Detriment for each Taxable Year is intended to measure
the decrease or increase in the actual Tax liability of the Corporate Taxpayer for such Taxable Year attributable to the Basis Adjustments and Imputed Interest, determined using a “with and without” methodology. For purposes of calculating
the Realized Tax Benefit or Realized Tax Detriment for any Taxable Year, carryovers or carrybacks of any U.S. federal income Tax item attributable to the Basis Adjustments and Imputed Interest shall be considered to be subject to the rules of the
Code and the Treasury Regulations, as applicable, governing the use, limitation and expiration of carryovers or carrybacks of the relevant type. If a carryover or carryback of any U.S. federal income Tax item includes a portion that is attributable
to the Basis Adjustment or Imputed Interest and another portion that is not so attributable, such respective portions shall be considered to be used in accordance with the “with and without” methodology. The parties agree that (i) any
payment under this Agreement (to the extent permitted by law and other than amounts accounted for as Imputed Interest) will have the effect of creating additional Basis Adjustments to Reference Assets for the Corporate Taxpayer in the year of
payment, and (ii) as a result, such additional Basis Adjustments will be incorporated into the current year calculation and into future year calculations, as appropriate. 

Section 2.3 Procedure; Amendments. 

(a) An applicable Schedule or amendment thereto shall become final and binding on all parties thirty (30) calendar days from the first
date on which the Agent has received the applicable Schedule or amendment thereto unless (i) the Agent, within thirty (30) calendar days after receiving an applicable Schedule or amendment thereto, provides the Corporate Taxpayer and each
other Agent with notice of a material objection to such Schedule (“Objection Notice”) made in good faith or (ii) the Agent provides a written waiver of such right of any Objection Notice within the period described in clause
(i) above, in which case such Schedule or amendment thereto becomes binding on the date a waiver from the Agent has been received by the Corporate Taxpayer. If the Corporate Taxpayer and Agent, for any reason, are unable to successfully resolve
the issues raised in an Objection Notice within thirty (30) calendar days after receipt by the Corporate Taxpayer of such Objection Notice, the Corporate Taxpayer and Agent shall employ the Reconciliation Procedures under
Section 7.10 or Resolution of Disputes procedures under Section 7.9, as applicable. 

  
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 (b) The applicable Schedule for any Taxable Year may be amended from time to time by the
Corporate Taxpayer (i) in connection with a Determination affecting such Schedule, (ii) to correct inaccuracies in the Schedule identified as a result of the receipt of additional factual information relating to a Taxable Year after the
date the Schedule was provided to the Agent, (iii) to comply with the Expert’s determination under the Reconciliation Procedures, (iv) to reflect a change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year
attributable to a carryback or carryforward of a loss or other Tax item to such Taxable Year, (v) to reflect a change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to an amended U.S. federal income Tax
Return filed for such Taxable Year or (vi) to take into account payments made pursuant to this Agreement, including by adjusting a Basis Adjustment Schedule (any such Schedule, an “Amended Schedule”). The Corporate Taxpayer
shall provide an Amended Schedule to the Agent within sixty (60) calendar days of the occurrence of an event referenced in clauses (i) through (vi) of the preceding sentence, together with (x) an Advisory Firm Letter supporting
such Amended Schedule, (y) schedules and work papers providing reasonable detail regarding the preparation of the Amended Schedule and (z) reasonable access for the Agent and its representatives to the appropriate representatives of the
Corporate Taxpayer , Rosehill LLC and the Advisory Firm in connection with its review of such schedule. For the avoidance of doubt, in the event a Schedule is amended after such Schedule becomes final pursuant to Section 2.3(a), the
Amended Schedule shall not be taken into account in calculating any Tax Benefit Payment in the Taxable Year to which the amendment relates but instead shall be taken into account in calculating the Cumulative Net Realized Tax Benefit for the Taxable
Year in which the amendment actually occurs. 
 ARTICLE III 

TAX BENEFIT PAYMENTS 

Section 3.1 Payments. 

(a) Within five (5) Business Days after a Tax Benefit Payment Schedule delivered to the Agent becomes final in accordance with
Section 2.3(a), the Corporate Taxpayer shall pay to each TRA Holder the Tax Benefit Payment in respect of such TRA Holder determined pursuant to Section 3.1(b) for such Taxable Year. Each such payment shall be made by wire
transfer of immediately available funds to the bank account previously designated by the TRA Holder to the Corporate Taxpayer, or as otherwise agreed by the Corporate Taxpayer and the TRA Holder. For the avoidance of doubt, no Tax Benefit Payment
shall be made in respect of estimated Tax payments, including, without limitation, U.S. federal or state estimated income Tax payments. 

(b) A “Tax Benefit Payment” in respect of a TRA Holder for a Taxable Year means an amount, not less than zero, equal to the
sum of the portion of the Net Tax Benefit Attributable to such TRA Holder and the Accrued Amount with respect thereto. A Net Tax Benefit is “Attributable” to a TRA Holder (i) with respect to any Disguised Sale, to the extent
that it is derived from any Basis Adjustment or Imputed Interest that is attributable to the undivided interest in the Reference Assets acquired or deemed acquired by Rosehill LLC in such Disguised Sale from such TRA Holder, (ii) with respect
to any Excess Distribution, to the extent that it is 

  
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derived from any Basis Adjustment or Imputed Interest that is attributable to such Excess Distribution with respect to such TRA Holder and (iii) with respect to an Exchange, to the extent
that it is derived from any Basis Adjustment or Imputed Interest that is attributable to the Units acquired or deemed acquired by the Corporate Taxpayer in an Exchange undertaken by or with respect to such TRA Holder. The “Net Tax
Benefit” for a Taxable Year shall be an amount equal to the excess, if any, of 90% of the Cumulative Net Realized Tax Benefit as of the end of such Taxable Year over the total amount of payments previously made under this
Section 3.1 (excluding payments attributable to Accrued Amounts); provided, for the avoidance of doubt, that no TRA Holder shall be required to return any portion of any previously made Tax Benefit Payment. The “Accrued
Amount” with respect to any portion of a Net Tax Benefit shall equal an amount determined in the same manner as interest on such portion of the Net Tax Benefit for a Taxable Year calculated at the Agreed Rate from the due date (without
extensions) for filing the Corporate Taxpayer Return for such Taxable Year until the Payment Date. For the avoidance of doubt, for Tax purposes, the Accrued Amount shall not be treated as interest but shall instead be treated as additional
consideration with respect to the relevant Basis Adjustment Event, unless otherwise required by law. Notwithstanding the foregoing, for each Taxable Year ending on or after the date of a Change of Control, if the Corporate Taxpayer has not elected
to terminate this Agreement pursuant to Section 4.1, then all Tax Benefit Payments, whether paid with respect to a Basis Adjustment Event (y) prior to the date of such Change of Control or (z) on or after the date of such
Change of Control, shall be calculated by utilizing the assumptions in clauses (i), (ii), (iv), and (v) of the definition of Valuation Assumptions, substituting in each case the terms “the closing date of a Change of Control” for an
“Early Termination Date”. 
 Section 3.2 No Duplicative Payments. It is intended that the provisions of this Agreement
will not result in duplicative payment of any amount (including interest) required under this Agreement. It is also intended that the provisions of this Agreement will result in 90% of the Cumulative Net Realized Tax Benefit, and the Accrued Amount
thereon, being paid to the TRA Holders. The provisions of this Agreement shall be construed in the appropriate manner to achieve these fundamental results. 

Section 3.3 Pro Rata Payments. 

(a) If for any reason the Corporate Taxpayer does not fully satisfy its payment obligations to make all Tax Benefit Payments due under this
Agreement in respect of a particular Taxable Year, then (i) the Corporate Taxpayer will pay the same proportion of each Tax Benefit Payment due to each TRA Holder to whom a payment is due under this Agreement in respect of such Taxable Year,
without favoring one obligation over the other, and (ii) no Tax Benefit Payment shall be made in respect of any Taxable Year until all Tax Benefit Payments in respect of prior Taxable Years have been made in full. 

(b) To the extent the Corporate Taxpayer makes a payment to a TRA Holder in respect of a particular Taxable Year under
Section 3.1(a) of this Agreement (taking into account Section 3.3(a), but excluding payments attributable to Accrued Amounts) in an amount in excess of the amount of such payment that should have been made to such TRA Holder
in respect of such Taxable Year, then (i) such TRA Holder shall not receive further payments under Section 3.1(a) until such TRA Holder has foregone an amount of payments equal to such excess and (ii) the Corporate Taxpayer
will pay the amount of such TRA Holder’s foregone payments to the 

  
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other TRA Holders to whom a payment is due under this Agreement in a manner such that each such TRA Holder to whom a payment is due under this Agreement, to the maximum extent possible, receives
aggregate payments under Section 3.1(a) (taking into account Section 3.3(a), but excluding payments attributable to Accrued Amounts) in the amount it would have received if there had been no excess payment to such TRA Holder.

 ARTICLE IV 

TERMINATION 

Section 4.1 Early Termination at Election of the Corporate Taxpayer. Within 30 days of a Change of Control, the Corporate Taxpayer
may terminate this Agreement by paying to each TRA Holder the Early Termination Payment due to such TRA Holder pursuant to Section 4.4(b) (such termination, an “Early Termination”); provided that the Corporate
Taxpayer may withdraw any notice of exercise of its termination rights under this Section 4.1 prior to the time at which any Early Termination Payment has been paid. Upon payment of the Early Termination Payment by the Corporate
Taxpayer, the Corporate Taxpayer shall not have any further payment obligations under this Agreement, other than for any (i) Tax Benefit Payment previously due and payable but unpaid as of the Early Termination Notice and (ii) and
(ii) Tax Benefit Payment due for the Taxable Year ending with or including the Early Termination Date (except to the extent that the amount described in clause (ii) is included in the Early Termination Payment). 

Section 4.2 Breach of Agreement. 

(a) In the event that the Corporate Taxpayer breaches any of its material obligations under this Agreement, whether as a result of failure to
make any payment when due, as a result of failure to honor any other material obligation required hereunder or by operation of law as a result of the rejection of this Agreement in a case commenced under the Bankruptcy Code or otherwise, then if the
Agent so elects, such breach shall be treated as an Early Termination. Upon such election, all obligations hereunder shall be accelerated and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date of
such breach and shall include, but shall not be limited to, (i) the Early Termination Payment calculated as if an Early Termination Notice had been delivered on the date of a breach, (ii) any Tax Benefit Payment previously due and payable
but unpaid as of the date of the breach and (iii) any Tax Benefit Payment due for the Taxable Year ending with or including the date of such breach (except to the extent that the amount described in clause (ii) is included in the Early
Termination Payment). Notwithstanding the foregoing, in the event that the Corporate Taxpayer breaches this Agreement, the Agent, on behalf of the TRA Holders, shall be entitled to elect either to receive the amounts set forth in clauses
(i) through (iii) above or to seek specific performance of the terms hereof. 
 (b) The parties agree that the failure to make any
payment due pursuant to this Agreement within three (3) months of the date such payment is due shall be deemed to be a breach of a material obligation under this Agreement for all purposes of this Agreement, and that it shall not be considered
to be a breach of a material obligation under this Agreement to make a payment due pursuant to this Agreement within three (3) months of the date such payment is due. Notwithstanding anything in this Agreement to the contrary, it shall not be a
breach of this Agreement if the Board determines in good faith that the Corporate Taxpayer does not have 

  
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sufficient cash to make any Tax Benefit Payment when due to the extent that the Corporate Taxpayer has insufficient funds to make such payment; provided that the interest provisions of
Section 5.2 shall apply to such late payment (unless the Corporate Taxpayer does not have sufficient cash to make such payment as a result of limitations imposed by any existing credit agreement to which Rosehill LLC or any Subsidiary of
Rosehill LLC is a party, in which case Section 5.2 shall apply, but the Default Rate shall be replaced by the Agreed Rate); and provided further that it shall be a breach of this Agreement, and the provisions of
Section 4.2(a) shall apply as of the original due date of the Tax Benefit Payment, if the Corporate Taxpayer makes any distribution of cash or other property to its shareholders while any Tax Benefit Payment is due and payable but
unpaid. 
 Section 4.3 Early Termination Notice. If the Corporate Taxpayer chooses to exercise its right of early termination
under Section 4.1 above, the Corporate Taxpayer shall deliver to the Agent notice of such intention to exercise such right (the “Early Termination Notice”) together with a schedule (the “Early Termination
Schedule”) showing in reasonable detail the calculation of the Early Termination Payment in a manner consistent with the definition of such term and an Advisory Firm Letter supporting such calculation. The Corporate Taxpayer shall provide
the Agent and its representatives with reasonable access to the appropriate representatives of the Corporate Taxpayer, Rosehill LLC and the Advisory Firm in connection with its review of such calculation. The Early Termination Schedule shall become
final and binding on all parties thirty (30) calendar days from the first date on which the Agent has received such Schedule or amendment thereto unless(i) the Agent, within thirty (30) calendar days after receiving the Early
Termination Schedule, provides the Corporate Taxpayer with notice of an objection to such Schedule made in good faith (“Early Termination Objection Notice”) or (ii) the Agent provides a written waiver of such right of an Early
Termination Objection Notice within the period described in clause (i) above, in which case such Schedule becomes binding on the date a waiver from the Agent has been received by the Corporate Taxpayer (the “Early Termination Effective
Date”). If the Corporate Taxpayer and Agent, for any reason, are unable to successfully resolve the issues raised in such notice within thirty (30) calendar days after receipt by the Corporate Taxpayer of the Early Termination
Objection Notice, the Corporate Taxpayer and Agent shall employ the Reconciliation Procedures under Section 7.10 or Resolution of Disputes procedures under Section 7.9, as applicable. 

Section 4.4 Payment upon Early Termination. 

(a) Subject to its right to withdraw any notice of Early Termination pursuant to Section 4.1, within three (3) Business Days
after the Early Termination Effective Date, the Corporate Taxpayer shall pay to each TRA Holder its Early Termination Payment. Each such payment shall be made by wire transfer of immediately available funds to a bank account or accounts designated
by the TRA Holder, or as otherwise agreed by the Corporate Taxpayer and the TRA Holder. The TRA Holders shall not be required to return any portion of any Early Termination Payment even if there is later a Determination affecting such Early
Termination Payment. 
 (b) The “Early Termination Payment” shall equal, with respect to a TRA Holder, the present value,
discounted at the Early Termination Rate as of the Early Termination Date, of all Tax Benefit Payments that would be required to be paid by the Corporate Taxpayer to such TRA Holder beginning from the Early Termination Date and assuming that the
Valuation Assumptions are applied. 

  
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 ARTICLE V 

SUBORDINATION AND LATE PAYMENTS 

Section 5.1 Subordination. Notwithstanding any other provision of this Agreement to the contrary, any Tax Benefit Payment, Early
Termination Payment or any other payment required to be made by the Corporate Taxpayer to any TRA Holder under this Agreement shall rank subordinate and junior in right of payment to any principal, interest or other amounts due and payable in
respect of any obligations in respect of indebtedness for borrowed money of the Corporate Taxpayer and its Subsidiaries (such obligations, “Senior Obligations”) and shall rank pari passu with all current or future unsecured
obligations of the Corporate Taxpayer that are not Senior Obligations. For the avoidance of doubt, notwithstanding the above, the determination of whether it is a breach of this Agreement if the Corporate Taxpayer fails to make any Tax Benefit
Payment when due is governed by Section 4.2(a). 
 Section 5.2 Late Payments by the Corporate Taxpayer. The amount
of all or any portion of any Tax Benefit Payment, Early Termination Payment or any other payment under this Agreement not made to any TRA Holder when due under the terms of this Agreement shall be payable together with any interest thereon, computed
at the Default Rate (or, if so provided in Section 4.2(a), at the Agreed Rate) and commencing from the date on which such Tax Benefit Payment, Early Termination Payment or any other payment under this Agreement was due and payable. 

ARTICLE VI 
 NO
DISPUTES; CONSISTENCY; COOPERATION; APPROVALS 
 Section 6.1 Participation in the Corporate Taxpayer’s and Rosehill
LLC’s Tax Matters. Except as otherwise provided herein, the Corporate Taxpayer shall have full responsibility for, and sole discretion over, all Tax matters concerning the Corporate Taxpayer and Rosehill LLC, including without limitation
preparing, filing or amending any Tax Return and defending, contesting or settling any issue pertaining to Taxes. Notwithstanding the foregoing, the Corporate Taxpayer shall notify the Agent of, and keep the Agent reasonably informed with respect to
the portion of any audit, examination, or any other administrative or judicial proceeding (a “Tax Proceeding”) of the Corporate Taxpayer or Rosehill LLC by a Taxing Authority the outcome of which is reasonably expected to affect the
rights and obligations of a TRA Holder under this Agreement, and shall provide the Agent with reasonable opportunity to provide information and other input to the Corporate Taxpayer, Rosehill LLC and their respective advisors concerning the conduct
of any such portion of such Tax Proceeding; provided, however, that the Corporate Taxpayer shall not settle or otherwise resolve any part of a Tax Proceeding described in the previous clause that relates to a Basis Adjustment or the deduction
of Imputed Interest without the consent of the Agent, which consent shall not be unreasonably withheld, conditioned or delayed; provided further, that the Corporate Taxpayer and Rosehill LLC shall not be required to take any action that is
inconsistent with any provision of the Rosehill LLC Agreement. 

  
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 Section 6.2 Consistency. Unless there is a Determination to the contrary, the
Corporate Taxpayer and the TRA Holders agree to report and cause to be reported for all purposes, including U.S. federal, state and local Tax purposes and financial reporting purposes, all Tax-related items (including, without limitation, the Basis
Adjustments and each Tax Benefit Payment) in a manner consistent with that set forth in any Schedule required to be provided by or on behalf of the Corporate Taxpayer under this Agreement, as finally determined pursuant to Section 2.3.
If the Corporate Taxpayer and any TRA Holder, for any reason, are unable to successfully resolve any disagreement concerning such treatment within thirty (30) calendar days, the Corporate Taxpayer and such TRA Holder shall employ the
Reconciliation Procedures under Section 7.10 or Resolution of Disputes procedures under Section 7.9, as applicable. 

Section 6.3 Cooperation. The Corporate Taxpayer, each TRA Holder and the Agent shall (i) furnish to each other in a timely
manner such information, documents and other materials as the other may reasonably request for purposes of making any determination or computation necessary or appropriate under this Agreement, preparing any Tax Return or contesting or defending any
Tax Proceeding, (ii) make itself or its employees and its representatives available to each other to provide explanations of documents and materials and such other information as may reasonably be requested in connection with any of the matters
described in clause (i) above, and (iii) reasonably cooperate in connection with any such matter. The Corporate Taxpayer shall reimburse the TRA Holder and the Agent for any reasonable third-party costs and expenses incurred pursuant to
this Section 6.3. 
 Section 6.4 Section 754 Election to be Filed. Consistent with Section 10.2(a) of the
Rosehill LLC Agreement, Rosehill LLC and any eligible Subsidiary of Rosehill LLC shall make an election pursuant to Section 754 of the Code effective for such entity’s Taxable Year that includes the Closing Date (or, if such entity is
formed or acquired after such Taxable Year, for the Taxable Year of such formation or acquisition) and shall not thereafter revoke such election until this Agreement is no longer in effect. 

Section 6.5 Approvals. During the period beginning on the date hereof and ending 36 months from the Closing Date (as defined in
the Business Combination Agreement) (the “Protection Period”), for so long as Tema beneficially holds at least 20% of the total issued and outstanding Units of Rosehill LLC (excluding Tema’s beneficial ownership of Rosehill LLC
through Tema’s ownership of Class A common stock of the Corporate Taxpayer), the Corporate Taxpayer shall not cause Rosehill LLC to sell, exchange or dispose of Contributed Assets (as defined in the Business Combination Agreement) in any
twelve month period during the Protection Period if, following such disposition, the cumulative aggregate amount realized (as that term is defined in Section 1001 of the Code) from all dispositions of Contributed Assets during such twelve month
period would be in excess of $40,000,000, without the consent of Tema, which consent may be granted or withheld in Tema’s sole discretion. The Corporate Taxpayer shall provide notice to Tema of any proposed disposition of Contributed Assets
which would have an amount realized (as defined in Section 1001 of the Code) in excess of $20,000,000 and the material terms of such disposition no later than fifteen (15) Business Days prior to the proposed disposition. 

  
 17 

 ARTICLE VII 

MISCELLANEOUS 

Section 7.1 Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be
deemed duly given and received (i) on the date of delivery if delivered personally, or by facsimile upon confirmation of transmission by the sender’s fax machine if sent on a Business Day (or otherwise on the next Business Day),
(ii) on the first Business Day following the date of dispatch if delivered by a recognized next-day courier service or (iii) five Business Days after the date of mailing to the recipient’s address. All notices hereunder shall be
delivered as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice: 

If to the Corporate Taxpayer, to: 

Rosehill Resources Inc. 
 16200
Park Row, Suite 300 
 Houston, Texas 77084 

Attention: Alan Townsend 
 with
required copies to (which shall not constitute notice to the Corporate Taxpayer): 
 KLR Energy Acquisition Corp. 

811 Main Street, 18th Floor 

Houston, Texas 77002 
 Facsimile:
(713) 654-8080 
 Attention: Edward Kovalik 

KLR Group, LLC 
 405 Lexington
Avenue, Suite 29C 
 New York, New York 10174 

Facsimile: (646) 576-8640 

Attention: Gregory R. Dow 
 with
a required copy (which shall not constitute notice to the Corporate Taxpayer) to: 
 Vinson & Elkins L.L.P. 

1001 Fannin Street, Suite 2500 

Houston, Texas 77002 
 Attention:
W. Matthew Strock; John Lynch 
 If to the Agent, to: 

Tema Oil and Gas Company 
 c/o
Rosemore, Inc. 
 1 North Charles Street, 22nd Floor 

Baltimore, MD 21201 
 Facsimile:
(410) 347-7081 
 Attention: General Counsel 

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

Norton Rose Fulbright US LLP 

1301 McKinney, Suite 5100 

Houston, Texas 77010 
 Facsimile:
(713) 651-5246 
 Attention: Charles D. Powell, Partner 

If to a TRA Holder, other than an Agent, that is or was a partner in Rosehill LLC, to the address set forth in the records of Agent. 

Any party may change its address or fax number by giving the other party written notice of its new address or fax number in the manner set forth above. 

Section 7.2 Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and the
same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties, it being understood that all parties need not sign the same counterpart. Delivery of an executed
signature page to this Agreement by facsimile transmission or otherwise (including an electronically executed signature page) shall be as effective as delivery of a manually signed counterpart of this Agreement. 

Section 7.3 Entire Agreement; No Third Party Beneficiaries. This Agreement constitutes the entire agreement and supersedes all
prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. This Agreement shall be binding upon and inure solely to the benefit of each party hereto and their respective successors and
permitted assigns, and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

Section 7.4 Governing Law. This Agreement shall be governed by, and construed in accordance with, the law of the State of
Delaware, without regard to the conflicts of laws principles thereof that would mandate the application of the laws of another jurisdiction. 

Section 7.5 Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by
any law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially
adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the
parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. 

  
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 Section 7.6 Successors; Assignment. 

(a) No TRA Holder may assign this Agreement to any person without the prior written consent of the Corporate Taxpayer; provided,
however, that: 
 (i) to the extent Units are transferred in accordance with the terms of the Rosehill LLC Agreement, the transferring TRA
Holder shall have the option to assign to the transferee of such Units the transferring TRA Holder’s rights under this Agreement with respect to such transferred Units as long as such transferee has executed and delivered, or, in connection
with such transfer, executes and delivers, a joinder to this Agreement, in form and substance reasonably satisfactory to the Corporate Taxpayer, agreeing to become a “TRA Holder” for all purposes of this Agreement, except as otherwise
provided in such joinder, and 
 (ii) any and all payments payable or that may become payable to a TRA Holder pursuant to this Agreement
that, once a Basis Adjustment Event has occurred, arise with respect to such Basis Adjustment Event, may be assigned to any Person or Persons as long as any such Person has executed and delivered, or, in connection with such assignment, executes and
delivers, a joinder to this Agreement, in form and substance reasonably satisfactory to the Corporate Taxpayer, agreeing to be bound by Section 7.13 and acknowledging specifically the terms of Section 7.6(b). 

For these purposes, a pledge by a TRA Holder of some or all of its rights, interests or entitlements under this Agreement to any U.S. bank in
connection with a bona fide loan or other indebtedness shall not constitute an assignment of this agreement; provided that (y) if Units are transferred to such U.S. bank as a result of a foreclosure or other action relating to such
pledge, such transfer shall be a transfer within the meaning of Section 7.6(a)(i) or (z) if such U.S. bank becomes entitled to payments payable or that may become payable to a TRA Holder as a result of such pledge, such U.S. bank
will be treated as a Person to whom such payments were assigned within the meaning of Section 7.6(a)(ii). For the avoidance of doubt, if a TRA Holder transfers Units but does not assign to the transferee of such Units the rights of such
TRA Holder under this Agreement with respect to such transferred Units, such TRA Holder shall continue to be entitled to receive the Tax Benefit Payments, if any, due hereunder with respect to, including any Tax Benefit Payments arising in respect
of a subsequent Exchange of, such Units. 
 (b) Notwithstanding the foregoing provisions of this Section 7.6, no assignee
described in clause (ii) of Section 7.6(a) shall have any rights under this Agreement except for the right to enforce its right to receive payments under this Agreement. 

(c) The Person designated as the Agent may not be changed without the prior written consent of the Corporate Taxpayer and TRA Holders who
would be entitled to receive more than fifty percent (50%) of the aggregate amount of the Early Termination Payments payable to all TRA Holders hereunder if the Corporate Taxpayer had exercised its right of early termination on the date of the
most recent Basis Adjustment Event prior to such amendment (excluding, for purposes of this sentence, all payments made to any TRA Holder pursuant to this Agreement since the date of such most recent Basis Adjustment Event). 

  
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 (d) Except as otherwise specifically provided herein, all of the terms and provisions of this
Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Corporate Taxpayer shall cause
any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Corporate Taxpayer, by written agreement, expressly to assume and agree to perform this Agreement
in the same manner and to the same extent that the Corporate Taxpayer would be required to perform if no such succession had taken place. 

Section 7.7 Amendments; Waivers. No provision of this Agreement may be amended unless such amendment is approved in writing by
each of the Corporate Taxpayer and by TRA Holders who would be entitled to receive more than fifty percent (50%) of the aggregate amount of the Early Termination Payments payable to all TRA Holders hereunder if the Corporate Taxpayer had
exercised its right of early termination on the date of the most recent Basis Adjustment Event prior to such amendment (excluding, for purposes of this sentence, all payments made to any TRA Holder pursuant to this Agreement since the date of such
most recent Basis Adjustment Event); provided, however, that no such amendment shall be effective if such amendment would have a disproportionate effect on the payments certain TRA Holders will or may receive under this Agreement unless all
such disproportionately affected TRA Holders consent in writing to such amendment. No provision of this Agreement may be waived unless such waiver is in writing and signed by the party against whom the waiver is to be effective. 

Section 7.8 Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference
only and are not to be considered in construing this Agreement. 
 Section 7.9 Resolution of Disputes. 

(a) Any and all disputes which are not governed by Section 7.10, including any ancillary claims of any party, arising out of,
relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement (including the validity, scope and enforceability of this Section 7.9 and Section 7.10)
(each a “Dispute”) shall be governed by this Section 7.9. The parties hereto shall attempt in good faith to resolve all Disputes by negotiation. If a Dispute between the parties hereto cannot be resolved in such manner,
such Dispute shall be finally settled by arbitration conducted by a single arbitrator in Houston, Texas in accordance with the then-existing Rules of Arbitration of the International Chamber of Commerce. If the parties to the Dispute fail to agree
on the selection of an arbitrator within ten (10) calendar days of the receipt of the request for arbitration, the International Chamber of Commerce shall make the appointment. The arbitrator shall be a lawyer admitted to the practice of law in
the State of Texas and shall conduct the proceedings in the English language. Performance under this Agreement shall continue if reasonably possible during any arbitration proceedings. In addition to monetary damages, the arbitrator shall be
empowered to award equitable relief, including an injunction and specific performance of any obligation under this Agreement. The arbitrator is not empowered to award damages in excess of compensatory damages, and each party hereby irrevocably
waives any right to recover punitive, exemplary or similar damages with respect to any Dispute. The award shall be the sole and exclusive remedy between the parties regarding any claims, counterclaims, issues, or accounting presented to the arbitral
tribunal. Judgment upon any award may be entered and enforced in any court having jurisdiction over a party or any of its assets. 

  
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 (b) Notwithstanding the provisions of Section 7.9(a), the Corporate Taxpayer may
bring an action or special proceeding in accordance with Section 7.9(c) for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award
and, for the purposes of this Section 7.9(b), the Agent and each TRA Holder (i) expressly consents to the application of Section 7.9(c) to any such action or proceeding, and (ii) agrees that proof shall not be
required that monetary damages for breach of the provisions of this Agreement would be difficult to calculate and that remedies at law would be inadequate. 

(c) EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF COURTS LOCATED IN HARRIS COUNTY, TEXAS FOR THE PURPOSE OF ANY JUDICIAL
PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF PARAGRAPH (B) OF THIS SECTION 7.9 OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT.
Such ancillary judicial proceedings include any suit, action or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration, or to confirm an arbitration award. The parties acknowledge that the fora
designated by this Section 7.9(c) have a reasonable relation to this Agreement, and to the parties’ relationship with one another. Each party further agrees that it will not bring any such judicial proceeding in any court other than
in Harris County, Texas. 
 (d) The parties hereby waive, to the fullest extent permitted by applicable law, any objection which they now or
hereafter may have to personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in any court referred to in Section 7.9(c) and such parties agree not to plead or claim the same. 

Section 7.10 Reconciliation. In the event that the Corporate Taxpayer and the Agent or any TRA Holder (as applicable, the
“Disputing Party”) are unable to resolve a disagreement with respect to the calculations required to produce the schedules described in Section 2.3, Section 4.3 or Section 6.2 (but not, for the
avoidance doubt, with respect to any legal interpretation with respect to such provisions or schedules) within the relevant period designated in this Agreement (each, a “Reconciliation Dispute”), such Reconciliation Dispute shall be
submitted for determination to the Expert. The Expert shall be a partner or principal in a nationally recognized accounting or law firm, and unless the Corporate Taxpayer and the Disputing Party agree otherwise, the Expert shall not, and the firm
that employs the Expert shall not, have any material relationship with the Corporate Taxpayer or the Disputing Party or other actual or potential conflict of interest. If the parties are unable to agree on an Expert within fifteen (15) calendar
days of receipt by a party of written notice from another party of the existence of a Reconciliation Dispute, the Expert shall be appointed by the International Chamber of Commerce Centre for Expertise. The Expert shall resolve (a) any matter
relating to the Basis Adjustment Schedule or an amendment thereto or the Early Termination Schedule or an amendment thereto within thirty (30) calendar days, (b) any matter relating to a Tax Benefit Payment Schedule or an amendment thereto
within fifteen (15) calendar days, and (c) any matter 

  
 22 

 
related to treatment of any tax-related item as contemplated in Section 6.2 within fifteen (15) calendar days, or, in each case, as soon thereafter as is reasonably practicable
after such matter has been submitted to the Expert for resolution. Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a disagreement would be due (in the absence of such disagreement) or
any Tax Return reflecting the subject of a disagreement is due, any portion of such payment that is not under dispute shall be paid on the date prescribed by this Agreement and such Tax Return may be filed as prepared by the Corporate Taxpayer,
subject to adjustment or amendment upon resolution. The costs and expenses relating to the engagement of such Expert or amending any Tax Return shall be borne by the Corporate Taxpayer except as provided in the next sentence. The Corporate Taxpayer
and the Disputing Party shall each bear its own costs and expenses of such proceeding, unless (i) the Expert adopts such Disputing Party’s position (as determined by the Expert), in which case the Corporate Taxpayer shall reimburse such
Disputing Party for any reasonable out-of-pocket costs and expenses in such proceeding, or (ii) the Expert adopts the Corporate Taxpayer’s position (as determined by the Expert), in which case such Disputing Party shall reimburse the
Corporate Taxpayer for any reasonable out-of-pocket costs and expenses in such proceeding. Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section 7.10 shall be decided by the Expert. The Expert
shall finally determine any Reconciliation Dispute and the determinations of the Expert pursuant to this Section 7.10 shall be binding on the Corporate Taxpayer and its Subsidiaries and the Disputing Party and may be entered and enforced
in any court having jurisdiction. 
 Section 7.11 Withholding. The Corporate Taxpayer shall be entitled to deduct and withhold
from any payment payable pursuant to this Agreement such amounts as the Corporate Taxpayer is required to deduct and withhold with respect to the making of such payment under the Code or any provision of U.S. federal, state, local or non-U.S. tax
law. To the extent that amounts are so withheld and paid over to the appropriate Taxing Authority by the Corporate Taxpayer, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the relevant TRA Holder.

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

(a) If the Corporate Taxpayer becomes a member of an affiliated or consolidated group of corporations that files a consolidated income Tax
Return pursuant to Sections 1501 et seq. of the Code or any corresponding provisions of U.S. state or local Tax law, then, subject to the application of the Valuation Assumptions upon a Change of Control: (i) the provisions of this
Agreement shall be applied with respect to the group as a whole; and (ii) Tax Benefit Payments, Early Termination Payments and other applicable items hereunder shall be computed with reference to the consolidated taxable income of the group as
a whole to the extent that any applicable Basis Adjustments can be used against such consolidated taxable income of the group as a whole. 

(b) If the Corporate Taxpayer (or any other entity that is obligated to make a Tax Benefit Payment or Early Termination Payment hereunder),
Rosehill LLC or any of Rosehill LLC’s direct or indirect Subsidiaries that is treated as a partnership or disregarded entity for U.S. federal income tax purposes (but only to the extent such Subsidiaries are not held through any

  
 23 

 
entity treated as a corporation for U.S. federal income tax purposes) (a “Transferor”) transfers one or more Reference Assets to a corporation (or a Person classified as a
corporation for U.S. federal income tax purposes) with which the Transferor does not file a consolidated Tax Return pursuant to Section 1501 of the Code, the Transferor, for purposes of calculating the amount of any Tax Benefit Payment or Early
Termination Payment (e.g., calculating the gross income of the entity and determining the Realized Tax Benefit of such entity) due hereunder, shall be treated as having disposed of such Reference Assets in a fully taxable transaction on the date of
such contribution. The consideration deemed to be received by the Transferor shall be equal to the fair market value of the transferred Reference Assets, plus, without duplication, (i) the amount of debt to which any such Reference Asset is
subject, in the case of a transfer of an encumbered Reference Asset or (ii) the amount of debt allocated to any such Reference Asset, in the case of a contribution of a partnership interest. For purposes of this Section 7.12(b), a
transfer of a partnership interest shall be treated as a transfer of the Transferor’s share of each of the assets and liabilities of that partnership. 

(c) Notwithstanding anything to the contrary, before causing Rosehill LLC or any of its Subsidiaries that are treated as a partnership or
disregarded entity for U.S. federal income tax purposes to dispose of twenty-five percent (25%) or more of the Reference Assets in a single transaction, the Corporate Taxpayer shall provide written notice of the proposed disposition to the
Agent, and each TRA Holder may, within ten (10) calendar days after the receipt of such notice by the Agent, exercise its Exchange Right with respect to all of its remaining Units; provided, that the period of time that each TRA Holder
has to exercise its Exchange Right pursuant to the foregoing clause shall be extended to the extent the Corporate Taxpayer reasonably determines is necessary for, and the Corporate Taxpayer and such TRA Holder shall take any action reasonably
necessary to cause, such exercise of such TRA Holder’s Exchange Right and any subsequent sale of the Corporate Taxpayer’s common stock resulting therefrom to be in compliance with applicable securities law. If any TRA Holder exercises its
Exchange Right during such period, the Corporate Taxpayer shall not cause Rosehill LLC or any such Subsidiary to dispose of the Reference Assets before the Exchange is consummated pursuant to the Rosehill LLC Agreement and the foregoing sentence.
For the avoidance of uncertainty, the rights set forth in this Section 7.12(c) shall cease to be available to any TRA Holder that no longer holds any Units. 

Section 7.13 Confidentiality. 

(a) The Agent, the TRA Holder and each of the TRA Holder’s assignees acknowledges and agrees that the information of the Corporate
Taxpayer is confidential and, except in the course of performing any duties as necessary for the Corporate Taxpayer and its Affiliates, as required by law or legal process or to enforce the terms of this Agreement, such person shall keep and retain
in the strictest confidence and not disclose to any Person any confidential matters, acquired pursuant to this Agreement, of the Corporate Taxpayer and its Affiliates and successors, concerning Rosehill LLC and its Affiliates and successors or the
TRA Holders, learned by the Agent or any TRA Holder heretofore or hereafter. This Section 7.13 shall not apply to (i) any information that has been made publicly available by the Corporate Taxpayer or any of its Affiliates, becomes
public knowledge (except as a result of an act of an Agent or a TRA Holder in violation of this Agreement) or is generally known to the business community and (ii) the disclosure of information (A) as may be proper in the course of

  
 24 

 
performing such TRA Holder’s obligations, or monitoring or enforcing such TRA Holder’s rights, under this Agreement, (B) as part of such TRA Holder’s normal reporting, rating
or review procedure (including normal credit rating and pricing process), or in connection with such TRA Holder’s or such TRA Holder’s Affiliates’ normal fund raising, financing, marketing, informational or reporting activities, or to
such TRA Holder’s (or any of its Affiliates’) or its direct or indirect owners or Affiliates, auditors, accountants, employees, attorneys or other agents, (C) to any bona fide prospective assignee of such TRA Holder’s rights
under this Agreement, or prospective merger or other business combination partner of such TRA Holder, provided that such assignee or merger partner agrees to be bound by the provisions of this Section 7.13, (D) as is required
to be disclosed by order of a court of competent jurisdiction, administrative body or governmental body, or by subpoena, summons or legal process, or by law, rule or regulation; provided that any TRA Holder required to make any such
disclosure to the extent legally permissible shall provide the Corporate Taxpayer prompt notice of such disclosure, or to regulatory authorities or similar examiners conducting regulatory reviews or examinations (without any such notice to the
Corporate Taxpayer), or (E) to the extent necessary for a TRA Holder or its direct or indirect owners to prepare and file their Tax Returns, to respond to any inquiries regarding such Tax Returns from any Taxing Authority or to prosecute or
defend any Tax Proceeding with respect to such Tax Returns. Notwithstanding anything to the contrary herein, the Agent (and each employee, representative or other agent of Agent or its assignees, as applicable) and each TRA Holder and each of its
assignees (and each employee, representative or other agent of such TRA Holder or its assignees, as applicable) may disclose to any and all Persons, without limitation of any kind, the Tax treatment and Tax structure of the Corporate Taxpayer,
Rosehill LLC, the Agent, the TRA Holders and their Affiliates, and any of their transactions, and all materials of any kind (including opinions or other Tax analyses) that are provided to the Agent or the TRA Holder relating to such Tax treatment
and Tax structure. 
 (b) If an Agent or an assignee or a TRA Holder or an assignee commits a breach, or threatens to commit a breach, of
any of the provisions of this Section 7.13, the Corporate Taxpayer shall have the right and remedy to have the provisions of this Section 7.13 specifically enforced by injunctive relief or otherwise by any court of competent
jurisdiction without the need to post any bond or other security, it being acknowledged and agreed that any such breach or threatened breach shall cause irreparable injury to the Corporate Taxpayer or any of its Subsidiaries or the TRA Holders and
the accounts and funds managed by the Corporate Taxpayer and that money damages alone shall not provide an adequate remedy to such Persons. Such rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available
at law or in equity. 
 Section 7.14 Post-Closing TRAs. Neither the Corporate Taxpayer nor any of its Subsidiaries shall enter
into any additional agreement providing rights similar to this Agreement to any Person (including any agreement pursuant to which the Corporate Taxpayer is obligated to pay amounts with respect to tax benefits resulting from any net operating losses
or other tax attributes to which the Corporate Taxpayer becomes entitled as a result of a transaction) without the prior written consent of the TRA Holders who would be entitled to receive more than fifty percent (50%) of the aggregate amount
of the Early Termination Payments payable to all TRA Holders hereunder if the Corporate Taxpayer had exercised its right of early termination on the date of the most recent Basis Adjustment Event (excluding, for purposes of this sentence, all
payments made to any TRA Holder pursuant to this Agreement since the date of such most recent Basis Adjustment Event). 

  
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 Section 7.15 Change in Law. Notwithstanding anything herein to the contrary, if, in
connection with an actual or proposed change in law, a TRA Holder reasonably believes that the existence of this Agreement could cause income (other than income arising from receipt of a payment under this Agreement) recognized by such TRA Holder
upon any Exchange to be treated as ordinary income rather than capital gain (or otherwise taxed at ordinary income rates) for U.S. federal income tax purposes or would have other material adverse tax consequences to the TRA Holder and/or its direct
or indirect owners, then at the election of the TRA Holder and to the extent specified by the TRA Holder, this Agreement (i) shall cease to have further effect, (ii) shall not apply to an Exchange by the TRA Holder occurring after a date
specified by it, or (iii) shall otherwise be amended in a manner determined by the TRA Holder to waive any benefits to which such TRA Holder would otherwise be entitled under this Agreement, provided that such amendment shall not result
in an increase in or acceleration of payments under this Agreement at any time as compared to the amounts and times of payments that would have been due in the absence of such amendment. 

[Signature Page Follows] 

  
 26 

 IN WITNESS WHEREOF, the Corporate Taxpayer, the Agent, and the TRA Holder have duly executed this Agreement as of
the date first written above. 
  

					
	CORPORATE TAXPAYER:
	
	ROSEHILL RESOURCES INC.
		
	By:	 	 /s/ J. Alan Townsend

		 	Name:	 	J. Alan Townsend
		 	Title:	 	Chief Executive Officer

  
 [Signature page to Tax
Receivable Agreement] 

 
					
	AGENT:
	
	TEMA OIL AND GAS COMPANY
		
	By:	 	 /s/ J. A. Townsend

		 	Name:	 	J. A. Townsend
		 	Title:	 	President
	
	TRA HOLDER:
	
	TEMA OIL AND GAS COMPANY
		
	By:	 	 /s/ J. A. Townsend

		 	Name:	 	J. A. Townsend
		 	Title:	 	President

  
 [Signature page to Tax
Receivable Agreement]EX-10.2

 Exhibit 10.2 

Execution Version 

INDEMNIFICATION AGREEMENT 
 This
Indemnification Agreement (“Agreement”) is made and entered into as of April 27, 2017, by and among Rosehill Resources Inc., a Delaware corporation (the “Company”) and its subsidiaries and controlled affiliates
(together with the Company, the “Rosehill Companies” and each a “Rosehill Company”), and [●] (“Indemnitee”). 

WHEREAS, in light of the litigation costs and risks to directors and officers resulting from their service to companies, and the desire of the Rosehill
Companies to attract and retain qualified individuals to serve as directors and officers, it is reasonable, prudent and necessary for each of the Rosehill Companies to indemnify and advance expenses on behalf of its and the other Rosehill
Companies’ directors and/or officers to the fullest extent permitted by applicable law so that they will serve or continue to serve the Rosehill Companies free from undue concern regarding such risks; 

WHEREAS, the Rosehill Companies have requested that Indemnitee serve or continue to serve as a director and/or an officer of one or more of the Rosehill
Companies and may have requested or may in the future request that Indemnitee serve one or more Rosehill Entities (as hereinafter defined) as a director or an officer or in other capacities; 

WHEREAS, one of the conditions that Indemnitee requires in order to serve as a director and/or an officer of one or more of the Rosehill Companies is that
such Indemnitee be so indemnified; and 
 WHEREAS, Indemnitee may have certain rights to indemnification, advancement of expenses and/or insurance provided
by one or more of the Designating Stockholders (as hereinafter defined) (or their affiliates) and/or any insurer providing insurance coverage under any policy purchased or maintained by such Designating Stockholders (or their affiliates), which
Indemnitee, the Rosehill Companies and the Designating Stockholders (or their affiliates) intend to be secondary to the primary obligation of the Rosehill Companies to indemnify Indemnitee as provided herein, with the Rosehill Companies’
acknowledgement of and agreement to the foregoing being a material condition to Indemnitee’s willingness to serve as a director and/or officer of each of the Rosehill Companies. 

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Rosehill Companies and Indemnitee do hereby covenant and agree as
follows: 
 1. Services by Indemnitee. Indemnitee agrees to serve as a director and/or an officer of one or more of the Rosehill Companies.
Indemnitee may at any time and for any reason resign from such position (subject to any contractual obligation the Indemnitee may have under any other agreement). 

2. Indemnification—General. On the terms and subject to the conditions of this Agreement, the Rosehill Companies shall, to the fullest extent
permitted by law, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, all losses, damages, liabilities, judgments, fines, penalties, costs, amounts paid in settlement, Expenses (as hereinafter defined) and other
amounts that Indemnitee reasonably incurs and that result from, arise in connection with or are by reason of Indemnitee’s Corporate Status (as hereinafter defined) and shall advance Expenses to Indemnitee. The obligations of the Rosehill
Companies under this Agreement (a) are joint and several obligations of each Rosehill Company, (b) shall continue after such time as Indemnitee ceases to serve as a director or an officer of the Rosehill Companies or in any other Corporate
Status, and (c) include, without limitation, claims for monetary damages against Indemnitee in respect of any actual or alleged liability or other loss of Indemnitee, to the fullest extent permitted under applicable law (including, if
applicable, Section 145 of the Delaware General Corporation Law) as in existence on the date hereof, as amended from time to time. A limitation under law of any Rosehill Company on providing indemnification or an advance of expenses to
Indemnitee shall not limit the indemnification and advancement obligations of any Rosehill Company not so limited. 
 3. Proceedings Other Than
Proceedings by or in the Right of the Rosehill Companies. If in connection with or by reason of Indemnitee’s Corporate Status, Indemnitee was, is, or is threatened to be made, a party to or a participant in any Proceeding (as hereinafter
defined) other than a Proceeding by or in the right of any of the Rosehill Companies to procure a judgment in its favor, the Rosehill Companies shall, to the fullest extent permitted by law, indemnify Indemnitee with respect to, and hold Indemnitee
harmless from and against, all Expenses, losses, damages, liabilities, judgments, penalties, fines and amounts paid in settlement (including all interest, assessments 

 
and other charges paid or payable in connection with or in respect of such liabilities, judgments, penalties, fines and amounts paid in settlement) reasonably incurred by Indemnitee or on behalf
of Indemnitee in connection with such Proceeding or any claim, issue or matter therein. 
 4. Proceedings by or in the Right of the Rosehill
Companies. If in connection with or by reason of Indemnitee’s Corporate Status, Indemnitee was, is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of any of the Rosehill Companies to procure a
judgment in such Rosehill Company’s favor, the Rosehill Companies shall, to the fullest extent permitted by law, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, all Expenses reasonably incurred by Indemnitee
or on behalf of Indemnitee in connection with such Proceeding or any claim, issue or matter therein. 
 5. Mandatory Indemnification in Case of
Successful Defense. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to (or a participant in) and is successful, on the merits or otherwise, in
defense of any Proceeding or any claim, issue or matter therein (including, without limitation, any Proceeding brought by or in the right of any Rosehill Company), the Rosehill Companies shall, to the fullest extent permitted by law, indemnify
Indemnitee with respect to, and hold Indemnitee harmless from and against, all Expenses reasonably incurred by Indemnitee or on behalf of Indemnitee in connection therewith. If Indemnitee is not wholly successful in defense of such Proceeding but is
successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Rosehill Companies shall, to the fullest extent permitted by law, indemnify Indemnitee against all Expenses reasonably
incurred by Indemnitee or on behalf of Indemnitee in connection with each successfully resolved claim, issue or matter. For purposes of this Section 5 and without limitation, the termination of any claim, issue or matter in such a
Proceeding by dismissal, with or without prejudice, on substantive or procedural grounds, or settlement of any such claim prior to a final judgment by a court of competent jurisdiction with respect to such Proceeding, shall be deemed to be a
successful result as to such claim, issue or matter; provided, however, that any settlement of any claim, issue or matter in such a Proceeding shall not be deemed to be a successful result as to such claim, issue or matter if such
settlement is effected by Indemnitee without the Rosehill Companies’ prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned. 

6. Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement or otherwise to indemnification by any of the Rosehill
Companies for some or a portion of the Expenses, liabilities, judgments, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such liabilities,
judgments, penalties, fines and amounts paid in settlement) incurred by Indemnitee or on behalf of Indemnitee in connection with a Proceeding or any claim, issue or matter therein, in whole or in part, the Rosehill Companies shall, to the fullest
extent permitted by law, indemnify Indemnitee to the fullest extent to which Indemnitee is entitled to such indemnification. 
 7. Indemnification for
Additional Expenses Incurred to Secure Recovery or as Witness. 
 (a) The Rosehill Companies shall, to the fullest extent permitted by law, indemnify
Indemnitee with respect to, and hold Indemnitee harmless from and against, any and all Expenses and, if requested by Indemnitee, shall advance on an as-incurred basis (as provided in Section 8 of this Agreement) such Expenses to
Indemnitee, which are incurred by Indemnitee in connection with any action or proceeding or part thereof brought by Indemnitee for (i) indemnification or advance payment of Expenses by the Rosehill Companies under this Agreement, any other
agreement, the Certificate of Incorporation or By-laws of the applicable Rosehill Company as now or hereafter in effect, or pursuant to Section 5.5 of the Business Combination Agreement, dated as of December 20, 2016, by and between KLR
Energy Acquisition Corp. and Tema Oil and Gas Company; or (ii) recovery under any director and officer liability insurance policies maintained by any Rosehill Entity. 

(b) To the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness (or is forced or asked to respond to discovery requests) in
any Proceeding to which Indemnitee is not a party, the Rosehill Companies shall, to the fullest extent permitted by law, indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, and the Rosehill Companies will advance on
an as-incurred basis (as provided in Section 8 of this Agreement), all Expenses reasonably incurred by Indemnitee or on behalf of Indemnitee in connection therewith. 

8. Advancement of Expenses. The Rosehill Companies shall, to the fullest extent permitted by law, pay on a current and as-incurred basis all Expenses
incurred by Indemnitee in connection with any Proceeding in any way connected with, resulting from or relating to Indemnitee’s Corporate Status. Such Expenses shall be paid in advance of the final disposition of such Proceeding, without regard
to whether Indemnitee will ultimately be entitled to be 

  
 2 

 
indemnified for such Expenses and without regard to whether an Adverse Determination (as hereinafter defined) has been or may be made. Upon submission of a request for advancement of Expenses
pursuant to Section 9(c) of this Agreement, Indemnitee shall be entitled to advancement of Expenses as provided in this Section 8, and such advancement of Expenses shall continue until such time (if any) as there is a final
non-appealable judicial determination that Indemnitee is not entitled to indemnification. Indemnitee shall repay such amounts advanced if and to the extent that it shall ultimately be determined in a decision by a court of competent jurisdiction
from which no appeal can be taken that Indemnitee is not entitled to be indemnified by the Rosehill Companies for such Expenses. Such repayment obligation shall be unsecured and shall not bear interest. The Rosehill Companies shall not impose on
Indemnitee additional conditions to advancement or require from Indemnitee additional undertakings regarding repayment. Indemnitee shall, in all events, be entitled to advancement of Expenses, without regard to Indemnitee’s ultimate entitlement
to indemnification, until the final determination of the Proceeding. 
 9. Indemnification Procedures. 

(a) Notice of Proceeding. Indemnitee agrees to notify the Rosehill Companies promptly upon being served with any summons, citation, subpoena, complaint,
indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses hereunder. Any failure by Indemnitee to notify any Rosehill Company will not relieve the Rosehill
Companies of its advancement or indemnification obligations under this Agreement unless, and only to the extent that, the Rosehill Companies can establish that such omission to notify resulted in actual and material prejudice to it which prejudice
cannot be reversed or otherwise eliminated without any material negative effect on the Rosehill Companies, and the omission to notify such Rosehill Companies will, in any event, not relieve any Rosehill Company from any liability which it may have
to indemnify Indemnitee otherwise than under this Agreement. If, at the time of receipt of any such notice, the Rosehill Companies have director and officer liability insurance policies in effect, the Rosehill Companies will promptly notify the
relevant insurers in accordance with the procedures and requirements of such policies. 
 (b) Defense; Settlement. Indemnitee shall have the sole
right and obligation to control the defense or conduct of any claim or Proceeding with respect to Indemnitee. The Rosehill Companies shall not, without the prior written consent of Indemnitee, which may be provided or withheld in Indemnitee’s
sole discretion, effect any settlement of any Proceeding against Indemnitee or which could have been brought against Indemnitee or which potentially or actually imposes any cost, liability, exposure or burden on Indemnitee unless (i) such
settlement solely involves the payment of money or performance of any obligation by persons other than Indemnitee and includes an unconditional, full release of Indemnitee by all relevant parties from all liability on any matters that are the
subject of such Proceeding and an acknowledgment that Indemnitee denies all wrongdoing in connection with such matters and (ii) the Rosehill Companies have fully indemnified the Indemnitee with respect to, and held Indemnitee harmless from and
against, all Expenses and other amounts incurred by Indemnitee or on behalf of Indemnitee in connection with such Proceeding. The Rosehill Companies shall not be obligated to indemnify Indemnitee against amounts paid in settlement of a Proceeding
against Indemnitee if such settlement is effected by Indemnitee without the Rosehill Companies’ prior written consent, which consent shall not be unreasonably withheld, delayed or conditioned, unless such settlement solely involves the payment
of money or performance of any obligation by persons other than the Rosehill Companies and includes an unconditional release of the Rosehill Companies by any party to such Proceeding other than the Indemnitee from all liability on any matters that
are the subject of such Proceeding and an acknowledgment that the Rosehill Companies deny all wrongdoing in connection with such matters. 
 (c) Request
for Advancement; Request for Indemnification. 
 (i) To obtain advancement of Expenses under this Agreement, Indemnitee shall submit to the Rosehill
Companies a written request therefor, together with such invoices or other supporting information as may be reasonably requested by the Rosehill Companies and reasonably available to Indemnitee, and, only to the extent required by applicable law
which cannot be waived, an unsecured written undertaking to repay amounts advanced; provided, that in connection with any request for advancement of Expenses, Indemnitee shall not be required to provide any materials or information to the
extent that the provisions of such materials or information would undermine or otherwise jeopardize attorney-client privilege. The Rosehill Companies shall make advance payment of Expenses to Indemnitee no later than five (5) business days
after receipt of the written request for advancement (and each subsequent request for advancement) by Indemnitee. If, at the time of receipt of any such written request for advancement of Expenses, the Rosehill Companies have director and officer
insurance policies in effect, the Rosehill Companies will promptly notify the relevant insurers in accordance with the procedures and requirements 

  
 3 

 
of such policies. The Rosehill Companies shall thereafter keep such director and officer insurers informed of the status of the Proceeding or other claim and take such other actions, as
appropriate to secure coverage of Indemnitee for such claim. 
 (ii) To obtain indemnification under this Agreement, at any time before or after submission
of a request for advancement pursuant to Section 9(c)(i) of this Agreement, Indemnitee may submit a written request for indemnification hereunder. The time at which Indemnitee submits a written request for indemnification shall be
determined by the Indemnitee in the Indemnitee’s sole discretion. Once Indemnitee submits such a written request for indemnification (and only at such time that Indemnitee submits such a written request for indemnification), a Determination (as
hereinafter defined) shall thereafter be made, as provided in and only to the extent required by Section 9(d) of this Agreement. In no event shall a Determination be made, or required to be made, as a condition to or otherwise in
connection with any advancement of Expenses pursuant to Section 8 and Section 9(c)(i) of this Agreement. If, at the time of receipt of any such request for indemnification, the Rosehill Companies have director and officer
insurance policies in effect, the Rosehill Companies will promptly notify the relevant insurers and take such other actions as necessary or appropriate to secure coverage of Indemnitee for such claim in accordance with the procedures and
requirements of such policies. 
 (d) Determination. The Rosehill Companies agree that Indemnitee shall be indemnified to the fullest extent
permitted by law and that no Determination shall be required in connection with such indemnification unless specifically required by applicable law which cannot be waived. In no event shall a Determination be required in connection with
indemnification for Expenses pursuant to Section 7 of this Agreement or incurred in connection with any Proceeding or portion thereof with respect to which Indemnitee has been successful on the merits or otherwise. Any decision that a
Determination is required by law in connection with any other indemnification of Indemnitee, and any such Determination, shall be made within thirty (30) days after receipt of Indemnitee’s written request for indemnification pursuant to
Section 9(c)(ii) and such Determination shall be made either (i) by the Disinterested Directors (as hereinafter defined), even though less than a quorum, so long as Indemnitee does not request that such Determination be made by
Independent Counsel (as hereinafter defined), or (ii) if so requested by Indemnitee, in Indemnitee’s sole discretion, by Independent Counsel in a written opinion to the Rosehill Companies and Indemnitee. If a Determination is made that
Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within five (5) business days after such Determination. Indemnitee shall reasonably cooperate with the person, persons or entity making such determination with
respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and
which is reasonably available to Indemnitee and reasonably necessary to such Determination. Any Expenses incurred by Indemnitee in so cooperating with the Disinterested Directors or Independent Counsel, as the case may be, making such determination
shall be advanced and borne by the Rosehill Companies (irrespective of the Determination as to Indemnitee’s entitlement to indemnification) and each Rosehill Company is liable to indemnify and hold Indemnitee harmless therefrom. If the person,
persons or entity empowered or selected under this Section 9(d) to determine whether Indemnitee is entitled to indemnification shall not have made a determination within thirty (30) days after receipt by the Rosehill Companies of
the request therefor, the requisite determination of entitlement to indemnification shall, to the fullest extent not prohibited by law, be deemed to have been made and Indemnitee shall be entitled to such indemnification, absent (i) a
misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such
indemnification under applicable law; provided, however, that such thirty (30) day period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or entity making the
determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto; and provided, further, that the foregoing
provisions of this Section 9(d) shall not apply if the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 9(e). 

(e) Independent Counsel. In the event Indemnitee requests that the Determination be made by Independent Counsel pursuant to Section 9(d) of
this Agreement, the Independent Counsel shall be selected as provided in this Section 9(e). The Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the Board of Directors,
in which event the Board of Directors shall make such selection on behalf of the Rosehill Companies, subject to the remaining provisions of this Section 9(e)), and Indemnitee or the Rosehill Companies, as the case may be, shall give
written notice to the other, advising the Rosehill Companies or Indemnitee of the identity of the Independent Counsel so selected. The Rosehill Companies or Indemnitee, as the 

  
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case may be, may, within five (5) days after such written notice of selection shall have been received, deliver to Indemnitee or the Company, as the case may be, a written objection to such
selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 15 of
this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a written objection is so made and
substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court of competent jurisdiction has determined that such objection is without merit. If, within ten
(10) days after submission by Indemnitee of a written request for indemnification pursuant to Section 9(c)(ii) of this Agreement and after a request for the appointment of Independent Counsel has been made, no Independent Counsel
shall have been selected and not objected to, either the Rosehill Companies or Indemnitee may petition a court of competent jurisdiction for resolution of any objection which shall have been made by the Rosehill Companies or Indemnitee to the
other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so
resolved or the person so appointed shall act as Independent Counsel under Section 9(d) of this Agreement. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 9(f) of this Agreement,
Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing). Any expenses incurred by or in connection with the appointment of
Independent Counsel shall be borne by the Rosehill Companies (irrespective of the Determination of Indemnitee’s entitlement to indemnification) and not by Indemnitee. 

(f) Consequences of Determination; Remedies of Indemnitee. The Rosehill Companies shall be bound by and shall have no right to challenge a Favorable
Determination. If an Adverse Determination is made, or if for any other reason the Rosehill Companies do not make timely indemnification payments or advances of Expenses, Indemnitee shall have the right to commence a Proceeding before a court of
competent jurisdiction to challenge such Adverse Determination and/or to require the Rosehill Companies to make such payments or advances (and the Company shall have the right to defend its position in such Proceeding and to appeal any adverse
judgment in such Proceeding). Indemnitee shall be entitled to be indemnified for all Expenses incurred in connection with such a Proceeding and to have such Expenses advanced by the Company in accordance with Section 8 of this Agreement.
If Indemnitee fails to challenge an Adverse Determination within thirty (30) business days, or if Indemnitee challenges an Adverse Determination and such Adverse Determination has been upheld by a final judgment of a court of competent
jurisdiction from which no appeal can be taken, then, to the extent and only to the extent required by such Adverse Determination or final judgment, the Rosehill Companies shall not be obligated to indemnify Indemnitee under this Agreement. 

(g) Presumptions; Burden and Standard of Proof. The parties intend and agree that, to the extent permitted by law, in connection with any Determination
with respect to Indemnitee’s entitlement to indemnification hereunder by any person, including a court: 
 (i) it will be presumed that Indemnitee is
entitled to indemnification under this Agreement (notwithstanding any Adverse Determination), and the Rosehill Entities or any other person or entity challenging such right will have the burden of proof to overcome that presumption in connection
with the making by any person, persons or entity of any determination contrary to that presumption; 
 (ii) the termination of any action, suit or
proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably
believed to be in or not opposed to the best interests of the applicable Rosehill Entity, and, with respect to any criminal action or proceeding, had reasonable cause to believe that Indemnitee’s conduct was unlawful; 

(iii) Indemnitee will be deemed to have acted in good faith if Indemnitee’s action is based on the records or books of account of the applicable Rosehill
Entity, including financial statements, or on information supplied to Indemnitee by the officers, employees, or committees of the board of directors of the applicable Rosehill Entity, or on the advice of legal counsel or other advisors (including
financial advisors and accountants) for the applicable Rosehill Entity or on information or records given in reports made to the applicable Rosehill Entity by an independent certified public accountant or by an appraiser or other expert or advisor
selected by the applicable Rosehill Entity; provided, however, that Indemnitee will not be deemed to have acted in good faith if such record or book of account of the applicable Rosehill Entity that was the basis for Indemnitee’s action was
created by or at the direction of Indemnity acting in bad faith or with gross negligence; and 

  
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 (iv) the knowledge and/or actions, or failure to act, of any director, officer, agent or employee of any of the
Rosehill Entities or relevant enterprises will not be imputed to Indemnitee in a manner that limits or otherwise adversely affects Indemnitee’s rights hereunder; provided, however, that the foregoing shall not be true if Indemnitee acts or
fails to act in bad faith or with gross negligence. 
 The provisions of this Section 9(g) shall not be deemed to be exclusive or to limit in
any way the other circumstances in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement. 
 10.
Remedies of Indemnitee. 
 (a) In the event that (i) a determination is made pursuant to Section 9(d) of this Agreement that
Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8 and Section 9(c)(i) of this Agreement, (iii) no determination of entitlement
to indemnification shall have been made pursuant to Section 9(d) of this Agreement within thirty (30) days after receipt by the Rosehill Companies of the request for indemnification, (iv) payment of indemnification is not made
pursuant to Section 5, 6 or 7 of this Agreement within five (5) business days after receipt by the Rosehill Companies of a written request therefor, (v) payment of indemnification pursuant to
Section 3, 4 or 7 of this Agreement is not made within five (5) business days after a determination has been made that Indemnitee is entitled to indemnification, or (vi) in the event that the Rosehill Companies or
any other person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding designed to deny, or to recover from, the Indemnitee the benefits provided or intended
to be provided to the Indemnitee hereunder, Indemnitee shall be entitled to an adjudication by a court of his entitlement to such indemnification or advancement of Expenses. Alternatively, Indemnitee, at his option, may seek an award in arbitration
to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. The Rosehill Companies shall not oppose Indemnitee’s right to seek any such adjudication or award in arbitration. 

(b) In the event that a determination shall have been made pursuant to Section 9(d) of this Agreement that Indemnitee is not entitled to
indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 10 shall be conducted in all respects as a de novo trial, or arbitration, on the merits, in which (i) Indemnitee shall not be
prejudiced by reason of that adverse determination, and (ii) the Rosehill Companies shall bear the burden of establishing that Indemnitee is not entitled to indemnification. 

(c) If a determination shall have been made pursuant to Section 9(d) of this Agreement that Indemnitee is entitled to indemnification, the
Rosehill Companies shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 10, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact
necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law. 

(d) The Rosehill Companies shall, to the fullest extent not prohibited by law, be precluded from asserting in any judicial proceeding or arbitration commenced
pursuant to this Section 10 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court or before any such arbitrator that the Rosehill Companies are bound by all
the provisions of this Agreement. 
 11. Insurance; Subrogation; Other Rights of Recovery, etc. 

(a) Each Rosehill Company shall use commercially reasonable efforts to purchase and maintain a policy or policies of insurance with reputable insurance
companies with A.M. Best ratings of “A” or better, to provide insurance for Indemnitee for any liability asserted against, and incurred by, Indemnitee or on Indemnitee’s behalf by reason of Indemnitee’s Corporate Status, or
arising out of Indemnitee’s status as such, whether or not any such Rosehill Company would have the power to indemnify Indemnitee against such liability. Such insurance policies shall have coverage terms and policy limits at least as favorable
to Indemnitee as the insurance coverage provided to any other director or officer of the Rosehill Companies. If any Rosehill Company has such insurance in effect at the time it receives from Indemnitee any notice of the commencement of an action,
suit, proceeding or other claim, such Rosehill Company shall give prompt notice of the commencement of such action, suit, proceeding or other claim to the insurers and take such other actions in accordance with the procedures set forth in the policy
as required or appropriate to secure coverage of Indemnitee for such action, suit, proceeding or other claim. Such Rosehill 

  
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Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such action, suit, proceeding or other
claim in accordance with the terms of such policy. Such Rosehill Company shall continue to provide insurance for Indemnitee for a period of at least six (6) years after Indemnitee ceases to serve as a director or an officer or in any other
Corporate Status. 
 (b) In the event of any payment by any Rosehill Company under this Agreement, such Rosehill Company shall be subrogated to the extent
of such payment to all of the rights of recovery of Indemnitee against any other Rosehill Entity, and Indemnitee hereby agrees, as a condition to obtaining any advancement or indemnification from the Rosehill Companies, to assign to such Rosehill
Company all of Indemnitee’s rights to obtain from such other Rosehill Entity such amounts to the extent that they have been paid by such Rosehill Company to or for the benefit of Indemnitee as advancement or indemnification under this Agreement
and are adequate to indemnify Indemnitee with respect to the costs, Expenses or other items to the full extent that Indemnitee is entitled to indemnification or other payment hereunder; and Indemnitee will (upon request by the Rosehill Companies)
execute all papers required and use reasonable best efforts to take all action reasonably necessary to secure such rights, including execution of such documents as are necessary to enable such Rosehill Company to bring suit or enforce such rights.

 (c) Each of the Rosehill Companies hereby unconditionally and irrevocably waives, relinquishes and releases, and covenants and agrees not to exercise
(and to cause each of the other Rosehill Entities not to exercise), any rights that such Rosehill Company may now have or hereafter acquire against any Designating Stockholder (or former Designating Stockholder), insurer of such Designating
Stockholder (or former Designating Stockholder) or Indemnitee that arise from or relate to the existence, payment, performance or enforcement of the Rosehill Companies’ obligations under this Agreement or under any other indemnification
agreement (whether pursuant to contract, by-laws or charter) with any person or entity, including, without limitation, any right of subrogation (whether pursuant to contract or common law), reimbursement, exoneration, contribution or
indemnification, or to be held harmless, and any right to participate in any claim or remedy of Indemnitee against any Designating Stockholder (or former Designating Stockholder) or Indemnitee, whether or not such claim, remedy or right arises in
equity or under contract, statute or common law, including, without limitation, the right to take or receive from any Designating Stockholder (or former Designating Stockholder), insurer of such Designating Stockholder (or former Designating
Stockholder) or Indemnitee, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim, remedy or right. 

(d) The Rosehill Companies shall not be liable to pay or advance to Indemnitee any amounts otherwise indemnifiable under this Agreement or under any other
indemnification agreement if, and to the extent that, Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise; provided, however, that (i) the Rosehill Companies hereby
agree that they are the indemnitors of first resort under this Agreement and under any other indemnification agreement (i.e., their obligations to Indemnitee under this Agreement or any other agreement or undertaking to provide advancement and/or
indemnification to Indemnitee are primary and any obligation of any Designating Stockholder (or any affiliate thereof other than a Rosehill Company) and/or any obligation of any insurer providing insurance coverage under any policy purchased or
maintained by such Designating Stockholders (or by any affiliate thereof, other than a Rosehill Company) to provide advancement or indemnification for the same Expenses, liabilities, judgments, penalties, fines and amounts paid in settlement
(including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, liabilities, judgments, penalties, fines and amounts paid in settlement) incurred by Indemnitee are secondary), and
(ii) if any Designating Stockholder (or any affiliate thereof other than a Rosehill Entity) pays or causes to be paid, for any reason, any amounts otherwise indemnifiable hereunder or under any other indemnification agreement (whether pursuant
to contract, by-laws or charter) with Indemnitee, then (x) such Designating Stockholder (or such affiliate, as the case may be) shall be fully subrogated to all rights of Indemnitee with respect to such payment and (y) the Rosehill
Companies shall fully indemnify, reimburse and hold harmless such Designating Stockholder (or such other affiliate) for all such payments actually made by such Designating Stockholder (or such other affiliate). 

(e) The Rosehill Companies’ obligation to indemnify or advance Expenses hereunder to Indemnitee in respect of or relating to Indemnitee’s service at
the request of any of the Rosehill Companies as a director, officer, employee, fiduciary, trustee, representative, partner or agent of any other Rosehill Entity shall be reduced by any amount Indemnitee has actually received as payment of
indemnification or advancement of Expenses from such other Rosehill Entity, except to the extent that such indemnification payments and advance payment of Expenses when taken together with any such amount actually received from other Rosehill
Entities or under director and officer insurance policies maintained by one or more Rosehill Entities are inadequate to fully pay all costs, Expenses or other items to the full extent that Indemnitee is otherwise entitled to indemnification or other
payment hereunder. 

  
 7 

 (f) Except as provided in Sections 11(c), 11(d) and 11(e) of this Agreement, the rights to
indemnification and advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time, whenever conferred or arising, be entitled under applicable law, under the Rosehill
Entities’ Certificates of Incorporation or By-Laws, or under any other agreement including the Business Combination Agreement, dated as of December 20, 2016, by and between KLR Energy Acquisition Corp. and Tema Oil and Gas Company, vote of
stockholders or resolution of directors of any Rosehill Entity, or otherwise. Indemnitee’s rights under this Agreement are present contractual rights that fully vest upon Indemnitee’s first service as a director or an officer of any of the
Rosehill Companies. The Parties hereby agree that Sections 11(c), 11(d) and 11(e) of this Agreement shall be deemed exclusive and shall be deemed to modify, amend and clarify any right to indemnification or advancement provided
to Indemnitee under any other contract, agreement or document with any Rosehill Entity. 
 (g) No amendment, alteration or repeal of this Agreement or of
any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in Indemnitee’s Corporate Status prior to such amendment, alteration or repeal. To the extent
that a change in the General Corporation Law of the State of Delaware (or other applicable law), whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the Rosehill
Entities’ Certificates of Incorporation or By-Laws and this Agreement, it is the intent of the parties hereto that Indemnitee enjoy by this Agreement the greater benefits so afforded by such change. The assertion or employment of any right or
remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. 
 12. Employment Rights;
Successors; Third Party Beneficiaries. 
 (a) This Agreement shall not be deemed an employment contract between the Rosehill Companies and Indemnitee.
This Agreement shall continue in force as provided above after Indemnitee has ceased to serve as a director and/or an officer of the Rosehill Companies or any other Corporate Status. 

(b) This Agreement shall be binding upon each of the Rosehill Companies and their successors and assigns and shall inure to the benefit of Indemnitee and
Indemnitee’s heirs, executors and administrators. If any of the Rosehill Companies or any of their respective successors or assigns shall (i) consolidate with or merge into any other corporation or entity and shall not be the continuing or
surviving corporation or entity of such consolidation or merger or (ii) transfer all or substantially all of its properties and assets to any individual, corporation or other entity, then, and in each such case, proper provisions shall be made
so that the successors and assigns of the Rosehill Companies shall assume all of the obligations set forth in this Agreement. 
 (c) The Designating
Stockholders are express third party beneficiaries of this Agreement, are entitled to rely upon this Agreement, and may specifically enforce the Rosehill Companies’ obligations hereunder (including but not limited to the obligations specified
in Section 11 of this Agreement) as though a party hereunder. 
 13. Severability. If any provision or provisions of this Agreement shall
be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any Section of this Agreement
containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; (b) such provision or provisions shall be deemed reformed to
the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any
Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby. 

14. Exception to Right of Indemnification or Advancement of Expenses. Notwithstanding any other provision of this Agreement and except as provided in
Section 7(a) of this Agreement or as may otherwise be agreed by any Rosehill Company, Indemnitee shall not be entitled to indemnification or advancement of Expenses under this Agreement with respect to any Proceeding brought by
Indemnitee (other than a Proceeding by Indemnitee (i) by way of defense or counterclaim or other similar portion of a Proceeding, (ii) to enforce Indemnitee’s rights under this Agreement or (iii) to enforce any other rights of
Indemnitee to indemnification, advancement or contribution from the Rosehill Companies under any other contract, by-laws or charter or under statute or other law, including any rights under Section 145 of the Delaware General Corporation Law),
unless the bringing of such Proceeding or making of such claim shall have been approved by the Board of Directors of the applicable Rosehill Company. 

  
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 15. Definitions. For purposes of this Agreement: 

(a) “Board of Directors” means the board of directors of the Company. 

(b) “By-laws” means (i) in the case of the Company, its by-laws and (ii) in the case of any other entity, its by-laws or similar
governing document, in each case, as such governing document is amended from time to time. 
 (c) “Certificate of Incorporation” means,
(i) in the case of the Company, its certificate of incorporation and (ii) in the case of any other entity, its certificate of incorporation, articles of incorporation or similar constituting document, in each case, as such constituting
document is amended from time to time. 
 (d) “Corporate Status” describes the status of a person by reason of such person’s past,
present or future service as a director, officer, employee, fiduciary, trustee, or agent of any of the Rosehill Companies (including, without limitation, one who serves at the request of any of the Rosehill Companies as a director, officer,
employee, fiduciary, trustee or agent of any other Rosehill Entity). 
 (e) “Designating Stockholder” means any of the Sponsors, in each
case so long as an individual designated by the Sponsors or any of their respective affiliates (as provided by the Company’s Certificate of Incorporation and By-laws and Stockholders Agreement) serves or has served as a director and/or officer
of any Rosehill Entity. 
 (f) “Determination” means a determination that either (x) there is a reasonable basis for the conclusion
that indemnification of Indemnitee is proper in the circumstances because Indemnitee met a/the particular standard(s) of conduct (a “Favorable Determination”) or (y) there is no reasonable basis for the conclusion that
indemnification of Indemnitee is proper in the circumstances because Indemnitee met a/the particular standard(s) of conduct (an “Adverse Determination”). An Adverse Determination shall include the decision that a Determination was
required in connection with indemnification and the decision as to the applicable standard of conduct. 
 (g) “Disinterested Director”
means a director of the Company (or, if a Determination is necessary with respect to a Rosehill Company other than the Company, a director of such Rosehill Company) who is not and was not a party to the Proceeding in respect of which indemnification
is sought by Indemnitee and does not otherwise have an interest materially adverse to any interest of the Indemnitee. 
 (h) “Expenses”
shall mean all direct and indirect costs, fees and expenses of any type or nature whatsoever and shall specifically include, without limitation, all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees and costs of
experts, witness fees and costs, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed
receipt of any payments under this Agreement, ERISA excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating,
being or preparing to be a witness, in, or otherwise participating in, a Proceeding or an appeal resulting from a Proceeding, including, but not limited to, the premium for appeal bonds, attachment bonds or similar bonds and all interest,
assessments and other charges paid or payable in connection with or in respect of any such Expenses, and shall also specifically include, without limitation, all reasonable attorneys’ fees and all other expenses incurred by or on behalf of
Indemnitee in connection with preparing and submitting any requests or statements for indemnification, advancement, contribution or any other right provided by this Agreement. Expenses, however, shall not include amounts of judgments or fines
against Indemnitee. 
 (i) “Independent Counsel” means, at any time, any law firm, or a member of a law firm, that (a) is experienced
in matters of corporation law and (b) is not, at such time, or has not been in the five years prior to such time, retained to represent: (i) any Rosehill Entity or Indemnitee in any matter material to either such party (other than with
respect to matters concerning Indemnitee under this Agreement, or of other indemnities under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding
the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Rosehill Companies or
Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The Rosehill Companies agree to pay the reasonable fees and expenses of the Independent Counsel referred to above and to fully indemnify such counsel against any and
all Expenses, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto and to be jointly and severally liable therefor. 

  
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 (j) “KLRE Entities” means KLR Energy Sponsor, LLC and its successors and affiliates and any
other investment fund or related investment adviser, management company, managing member or general partner that is an affiliate of any of the foregoing entities (other than any Rosehill Entity) or that is advised by the same investment adviser as
any of the foregoing entities or by an affiliate of such investment adviser 
 (k) “Proceeding” includes any actual, threatened, pending or
completed action, suit, arbitration, alternate dispute resolution mechanism, investigation (formal or informal), inquiry, administrative hearing or any other actual, threatened, pending or completed proceeding, whether brought by or in the right of
any Rosehill Company or otherwise and whether civil, criminal, administrative or investigative in nature, in which Indemnitee was, is, may be or will be involved as a party, witness or otherwise, by reason of Indemnitee’s Corporate Status or by
reason of any action taken by Indemnitee or of any inaction on Indemnitee’s part while acting as director, officer, employees, fiduciary, trustee or agent of any Rosehill Entity (in each case whether or not he is acting or serving in any such
capacity or has such status at the time any liability or expense is incurred for which indemnification or advancement of Expenses can be provided under this Agreement). If the Indemnitee believes in good faith that a given situation may lead to or
culminate in the institution of a Proceeding, this shall be considered a Proceeding under this paragraph. 
 (l) “Sponsors” means KLRE
Entities and the Tema Entities. 
 (m) “Stockholders Agreement” means the Shareholders’ and Registration Rights Agreement dated as of
December 20, 2016, by and among Tema Oil and Gas Company, KLR Energy Sponsor, LLC, KLR Energy Acquisition Corp., Anchorage Illiquid Opportunities V, L.P. and AIO V AIV 3 Holdings, L.P. 

(n) “Tema Entities” means Tema Oil and Gas Company and its successors and affiliates (other than any Rosehill Entity). 

(o) “Rosehill Entities” means any Rosehill Company, any of their respective subsidiaries and any other corporation, partnership, limited
liability company, joint venture, trust, employee benefit plan or other enterprise with respect to which Indemnitee serves as a director, officer, employee, partner, representative, fiduciary, trustee, or agent, or in any similar capacity, at the
request of any Rosehill Company. 
 16. Construction. Whenever required by the context, as used in this Agreement the singular number shall include
the plural, the plural shall include the singular, and all words herein in any gender shall be deemed to include (as appropriate) the masculine, feminine and neuter genders. 

17. Reliance. The Rosehill Companies expressly confirm and agree that they have entered into this Agreement and assumed the obligations imposed on each
of them hereby in order to induce Indemnitee to serve as a director and/or an officer of one or more of the Rosehill Companies, and the Rosehill Companies acknowledge that Indemnitee is relying upon this Agreement in serving as a director and/or an
officer of one or more of the Rosehill Companies. 
 18. Modification and Waiver. No supplement, modification or amendment of this Agreement shall be
binding unless executed in a writing identified as such by all of the parties hereto. Except as otherwise expressly provided herein, the rights of a party hereunder (including the right to enforce the obligations hereunder of the other parties) may
be waived only with the written consent of such party, and no waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a
continuing waiver. 
 19. Notice Mechanics. All notices, requests, demands or other communications hereunder shall be in writing and shall be deemed
to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third business
day after the date on which it is so mailed: 
  

			
	(a) If to Indemnitee to:	  	 [●]
 Rosehill Resources Inc.

16200 Park Row, Suite 300
 Houston, Texas, 77084

		
	(b) If to any Rosehill Company, to:	  	 Rosehill Resources Inc.
 16200 Park Row,
Suite 300
 Houston, Texas, 77084
 Attention: J.A.
Townsend

  
 10 

 or to such other address as may have been furnished (in the manner prescribed above) as follows: (a) in the
case of a change in address for notices to Indemnitee, furnished by Indemnitee to the Rosehill Companies and (b) in the case of a change in address for notices to any Rosehill Company, furnished by the Rosehill Companies to Indemnitee. 

20. Contribution. To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to
Indemnitee for any reason whatsoever, the Rosehill Companies, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement
and/or for reasonably incurred Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to
reflect (i) the relative benefits received by the Rosehill Companies and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Rosehill Companies (and their
other directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 
 21. Governing Law; Submission
to Jurisdiction; Appointment of Agent for Service of Process. This Agreement and the legal relations among the parties shall, to the fullest extent permitted by law, be governed by, and construed and enforced in accordance with, the laws of the
State of Delaware, without regard to its conflict of laws rules. The Rosehill Companies and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be
brought only in the Court of Chancery of the State of Delaware (the “Delaware Court”), and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the
exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court,
and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or otherwise inconvenient forum. 

22. Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this
Agreement or to affect the construction thereof. 
 23. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall
for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. 
 [Signature Pages
Follow] 

  
 11 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written. 

 

							
	Company:	 		 	ROSEHILL RESOURCES INC.
				
		 		 	By:	 	                                     
                                         
                                      
		 		 	Name:	 	J.A. Townsend
		 		 	Title:	 	President, Chief Executive Officer and Director

  
 SIGNATURE
PAGE TO 
 INDEMNIFICATION AGREEMENT 

							
	Indemnitee:	 		 		 	  

		 		 		 	Name: [●]

  
 SIGNATURE
PAGE TO 
 INDEMNIFICATION AGREEMENT

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