Document:

EX-10.3

 Exhibit 10.3 

EXCHANGE AGREEMENT 
 THIS
EXCHANGE AGREEMENT (this “Agreement”), dated as of March 17, 2021 (and effective as set forth in Section 3.16 of this Agreement), by and among Vine Energy Inc., a Delaware corporation
(“Issuer”), Vine Energy Holdings LLC, a Delaware limited liability company (“Vine Holdings”), Vine Investment LLC, a Delaware limited liability company (“Vine Investment”), Brix Investment LLC, a
Delaware limited liability company (“Brix Investment”) and Harvest Investment LLC, a Delaware limited liability company (“Harvest Investment”). 

WHEREAS, the Parties desire to provide for the exchange of certain Class B Units of Vine Holdings and Class B Common Stock of the
Issuer for shares of Class A Common Stock of the Issuer or, at the Issuer’s election, cash equal to the Cash Election Amount (as defined below), on the terms and subject to the conditions set forth herein. 

NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained herein and for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 
 1.1
Definitions. 
 The following definitions shall be for all purposes, unless otherwise clearly indicated to the contrary,
applied to the terms used in this Agreement. 
 “Agreement” has the meaning set forth in the preamble of this
Agreement. 
 “Brix Investment” has the meaning set forth in the preamble of this Agreement. 

“Business Day” means a day other than a Saturday, Sunday, federal or New York or Texas State holiday or other day on
which commercial banks in New York City or Houston, Texas are authorized or required by law to close. 
 “Cash
Election” has the meaning set forth in Section 2.1(b) of this Agreement. 
 “Cash Election
Amount” means with respect to a particular Exchange, an amount of cash equal to the value of the shares of Class A Common Stock that would have been received in such Exchange absent any Cash Election as of the date of Vine
Holdings’ delivery of such cash pursuant to Section 2.2 (the “Valuation Date”), decreased by any distributions received by the Investment Entity participating in the Exchange, with respect to the
Class B Units that are the subject of the Exchange following the date of receipt by Vine Holdings of the surrendered Class B Units and where the record date for such distribution was after the date of receipt of such surrendered
Class B Units. For this purpose, the value of a share of Class A Common Stock shall equal (i) the volume weighted average price of a share of Class A Common Stock for the 10 trading days ending on the trading day prior to the
Valuation Date or (ii) in the event the share of Class A Common Stock is not then publicly traded, the value, as reasonably determined by the Issuer in good faith, that would be obtained in an arm’s length transaction for cash between
an informed and willing buyer and an informed and willing seller, neither of whom is under any compulsion to purchase or sell, respectively, and without regard to the particular circumstances of the buyer or seller. 

 “Cash Election Notice” has the meaning set forth in
Section 2.1(b) of this Agreement. 
 “Class A Common
Stock” means the Class A common stock, par value $0.01 per share, of Issuer. 

“Class B Common Stock” means the Class B common stock, par value $0.01 per
share, of Issuer. 
 “Class B Unit” means one (1) limited liability company
unit representing a membership interest in Vine Holdings, designated as a Class B Unit in and issued pursuant to the Vine Holdings LLC Agreement. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended. 

“Exchange” has the meaning set forth in Section 2.1(a) of this Agreement. 

“Exchange Date” has the meaning set forth in Section 2.1(b) of this Agreement. 

“Exchange Rate” means the number of shares of Class A Common Stock for which a Class B Unit (together with
the same number of shares of Class B Common Stock) is entitled to be exchanged. On the date of this Agreement, the Exchange Rate shall be one (1) for one (1), which Exchange Rate shall be subject to modification as provided in
Section 2.4. 
 “Harvest Investment” has the meaning set forth in the preamble of this
Agreement. 
 “Investment Entity” means each of Brix Investment, Harvest Investment and Vine Investment,
collectively, the “Investment Entities.” 
 “IPO” means the initial public offering and sale
of shares of Class A Common Stock, as contemplated by Vine Energy Inc.’s Registration Statement on Form S-1. 

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

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

“Parties” means the Issuer, Vine Holdings and the Investment Entities. 

“Registrable Securities” shall have the meaning set forth in the Registration Rights Agreement. 

“Registration Rights Agreement” means the Registration Rights Agreement, dated as of March 17, 2021, by and among
the Issuer, the Investment Entities and the other holders, as amended. 

  
 2 

 “Valuation Date” has the meaning set forth in the definition of Cash
Election Amount in Article I of this Agreement. 
 “Vine Holdings” has the meaning set forth in the preamble
of this Agreement. 
 “Vine Holdings LLC Agreement” means that certain Amended and Restated Limited Liability
Company Agreement of Vine Energy Holdings LLC, dated as of March 17, 2021, as it may be amended, supplemented or restated from time to time. 

“Vine Investment” has the meaning set forth in the preamble of this Agreement. 

ARTICLE II 
 EXCHANGE OF
CLASS B UNITS 
 2.1 Exchange of Class B Units. 

(a) Subject to the provisions in this Article II and the provisions of the Vine Holdings LLC Agreement, each Investment
Entity shall be entitled to exchange Class B Units (together with the same number of shares of Class B Common Stock) held by such Investment Entity at any time and from time to time. Each Investment Entity may surrender Class B Units
(together with the same number of shares of Class B Common Stock) to Vine Holdings in exchange for either (i) the delivery by Vine Holdings of a number of shares of Class A Common Stock equal to the product of (A) such number of
Class B Units surrendered multiplied by (B) the Exchange Rate or (ii), at the Issuer’s election, the delivery by Vine Holdings of cash equal to the Cash Election Amount calculated with respect to such Exchange (each, an
“Exchange”). For the avoidance of doubt, if at any time an Investment Entity surrenders all of its Class B Units to Vine Holdings, it must concurrently surrender all shares of Class B Common Stock then held by it to Vine
Holdings. 
 (b) On the date the Class B Units are surrendered pursuant to an Exchange (the “Exchange
Date”), the Issuer shall be entitled to elect (a “Cash Election”) to settle the Exchange by the delivery to the Investment Entity participating in such Exchange (in the manner provided for in
Section 2.2(a)), in lieu of the applicable number of shares of Class A Common Stock that would be received in such Exchange, an amount of cash equal to the Cash Election Amount for such Exchange. In order to make a
Cash Election with respect to an Exchange, the Issuer must provide written notice (a “Cash Election Notice”) of such election to the Investment Entity participating in the Exchange prior to 1:00 pm, Houston time, on the Business Day
after the date on which such Class B Units (together with the same number of shares of Class B Common Stock) shall have been received by Vine Holdings. If the Issuer fails to provide such written notice prior to such time, it shall not be
entitled to make a Cash Election with respect to such Exchange. 

  
 3 

 (c) Following settlement of the Exchange, whether by delivery of
Class A Common Stock or exercise of a Cash Election, (i) all rights of the Investment Entity participating in such Exchange as holder of such exchanged Class B Units and shares of such exchanged Class B Common Stock shall cease
and Vine Holdings shall deliver such exchanged Class B Units and such exchanged shares of Class B Common Stock to the Issuer for no additional consideration, and (ii) in the event the Issuer does not exercise a valid Cash Election,
the Investment Entity participating in such Exchange shall be treated for all purposes as having become the record holder of such shares of Class A Common Stock received in such Exchange. 

(d) In the event the Issuer elects to make a Cash Election with respect to an Investment Entity, it must simultaneously make
the same Cash Election with respect to each Investment Entity that is participating in concurrently occurring Exchanges. 
 2.2
Exchange Procedures. 
 (a) If the Issuer makes a valid Cash Election with respect to an Exchange, then in
accordance with and subject to the terms set forth in the Vine Holdings LLC Agreement the Issuer shall deliver to Vine Holdings, and Vine Holdings shall deliver to the Investment Entity participating in such Exchange, in each case, as
directed by the recipient Party by wire transfer or ACH, the Cash Election Amount payable upon the Exchange. 
 (b) If the
Issuer does not make a valid Cash Election with respect to an Exchange, then in accordance with and subject to the terms set forth in the Vine Holdings LLC Agreement Issuer shall issue and contribute to Vine Holdings, and Vine Holdings shall
deliver to the Investment Entity participating in such Exchange, the number of shares of Class A Common Stock issuable upon the Exchange. 

(c) Subject to the terms set forth in the Vine Holdings LLC Agreement, the Issuer may adopt reasonable procedures for
the implementation of the exchange provisions set forth in this Article II, including, without limitation, procedures for the giving of notice of exchange and the surrender of Class B Units and shares of Class B Common Stock in the
event that the Class B Units or shares of Class B Common Stock are uncertificated. 
 (d) Notwithstanding anything
to the contrary herein, in accordance with Section 3.6(b) of the Vine Holdings LLC Agreement, the Issuer may in its sole discretion elect to settle any Exchange hereunder by delivering shares of Class A Common Stock or the applicable Cash
Election Amount directly to an exchanging Investment Entity in exchange for such Investment Entity’s delivery to the Issuer of the corresponding Class B Units (together with the same number of shares of Class B Common Stock). Any such
transaction shall otherwise be effected on the terms and in the manner provided herein and shall constitute an “Exchange” for all purposes of this Agreement. In the event the Issuer makes an election pursuant to this
Section 2.2(d) with respect to any specific Investment Entity, it shall make the same election with respect to all other Investment Entities who are participating in concurrently occurring Exchanges. 

2.3 Exchange Restrictions. 

(a) Notwithstanding anything to the contrary contained herein, no Investment Entity shall be entitled to exchange Class B
Units and shares of Class B Common Stock, and the Issuer and Vine Holdings shall have the right to refuse to honor any request for an Exchange, if such Exchange would be prohibited under applicable law or regulation. 

  
 4 

 (b) To the extent the Issuer or Vine Holdings determines that the
Class B Units do not meet the requirements of Treasury Regulation Section 1.7704-1(h), the Issuer or Vine Holdings may impose such restrictions on any Exchange as the Issuer or Vine Holdings may
reasonably determine to be necessary or advisable so that Vine Holdings is not treated as a “publicly traded partnership” under Section 7704 of the Code; provided, that each Investment Entity shall be entitled at any time to
exchange Class B Units (together with the same number of shares of Class B Common Stock) for Class A Common Stock, provided that the number of Class B Units surrendered by such Investment Entity (and any related person within the
meaning of Section 267(b) or Section 707(b)(1) of the Code) in such Exchanges during any thirty (30) calendar day period represent, in the aggregate, greater than 2% of the total interests in partnership capital or profits within the
meaning of Treasury Regulations Section 1.7704-1(k) (provided that such Exchange constitutes part of a “block transfer” within the meaning of Treasury Regulation
Section 1.7704-1(e)(2)). Notwithstanding anything to the contrary herein, no Exchange shall be permitted (and, if attempted, shall be void ab initio) if, in the good faith determination of the
Issuer or Vine Holdings, such an Exchange would pose a material risk that Vine Holdings would be treated as a “publicly traded partnership” under Section 7704 of the Code. 

2.4 Splits, Distributions and Reclassifications. The Exchange Rate and Cash Election Amount shall be adjusted accordingly and
equitably if there is: (1) any subdivision (by split, distribution, reclassification, recapitalization or otherwise) or combination (by reverse split, reclassification, recapitalization or otherwise) of the Class B Units and Class B
Common Stock that is not accompanied by an identical subdivision or combination of the shares of Class A Common Stock or (2) any subdivision (by split, distribution, reclassification, recapitalization or otherwise) or combination (by
reverse split, reclassification, recapitalization or otherwise) of the shares of Class A Common Stock that is not accompanied by an identical subdivision or combination of the Class B Units and Class B Common Stock. In the event of a
reclassification or other similar transaction as a result of which the shares of Class A Common Stock are converted into another security, then each Investment Entity shall be entitled to receive upon exchange the amount of such security that
such Investment Entity would have received if such exchange had occurred immediately prior to the effective date of such reclassification or other similar transaction. Except as may be required in the immediately preceding sentence, no adjustments
in respect of distributions shall be made upon the exchange of any Class B Unit and share of Class B Common Stock. 
 2.5
Taxes. The delivery of shares of Class A Common Stock upon an Exchange shall be made without charge to the Investment Entity participating in such Exchange for any stamp or other similar tax in respect of such issuance unless
otherwise required by law. 
 2.6 Common Stock Issued. For the avoidance of doubt, the shares of Class A Common Stock
issued in exchange for Class B Units and shares of Class B Common Stock will not be registered under the Securities Act of 1933, as amended, but will be Registrable Securities and subject to the provisions of the Registration Rights
Agreement. 

  
 5 

 2.7 Reserves. At all times, Issuer shall maintain a minimum number of
unencumbered shares of Class A Common Stock reserved for issuance equal to the product of (A) the aggregate number of Class B Units held by the Investment Entities multiplied by (B) the Exchange Rate. 

ARTICLE III 
 GENERAL
PROVISIONS 
 3.1 Representations and Warranties of Issuer, Vine Holdings and the Investment Entities. Each
of Issuer, Vine Holdings and the Investment Entities hereby represents and warrants to the respective other Parties as follows: 

(a) it has all requisite power and authority to enter into this Agreement and to consummate the transactions contemplated
hereby; this Agreement has been duly executed and delivered by it and constitutes a valid and binding obligation of it, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or
other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law; and 

(b) the execution, delivery and performance of this Agreement by it will not result in any material breach or violation of or
default or right of termination or acceleration under any statute, law, regulation, ordinance, rule, permit, concession, grant, franchise, license or other authorization or approval of any governmental authority, judgment, order or decree or any
mortgage, agreement, deed of trust, indenture or any other instrument to which it is a party or by which it or any of its properties or assets are bound or which is otherwise applicable to it. 

3.2 Representations and Warranties of Issuer and Vine Holdings. Each of Issuer and Vine Holdings hereby represents and warrants
to each of the Investment Entities that, upon the valid surrender of Class B Units and shares of Class B Common Stock pursuant to an Exchange pursuant to the terms of this Agreement, the Class A Common Stock delivered to an Investment
Entity pursuant to such Exchange shall be duly and validly authorized, fully paid and nonassessable, and shall be issued in the name of the Investment Entity participating in such Exchange, or such other party as such Investment Entity may designate
in writing, without charge for any stamp or other similar tax in respect of such issuance, and will pass to the Investment Entity participating in such Exchange or their designee, free and clear of any liens, security interests and other
encumbrances other than any such liens, security interests or other encumbrances imposed by the Investment Entity participating in such Exchange. 

3.3 Amendment. The provisions of this Agreement may be amended by the affirmative vote or written consent of each of
(i) the Issuer, (ii) Vine Holdings and (iii) the holders of at least a majority of the then-outstanding Class B Units (excluding Class B Units held by the Issuer), provided that, for so long as the Investment Entities
(or other affiliates of The Blackstone Group L.P.) hold at least 5% of the outstanding Class B Units, the prior written consent of such Investment Entities (or other affiliates of The Blackstone Group L.P.) will be required for any amendment,
supplement, waiver or modification of this Agreement. 

  
 6 

 3.4 Addresses and Notices. All notices, requests, claims, demands and other
communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person, by courier service, by fax, by electronic mail (delivery receipt requested) or by registered or
certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses (or at such other address for a party as shall be as specified in a notice given in accordance with this
Section 3.4): 
 (a) If to the Issuer or Vine Holdings, to: 

Vine Energy Inc. 
 5800 Granite
Parkway, Suite 550 
 Plano, Texas 75024 

Attention:       Eric D. Marsh, President and Chief Executive Officer 

Facsimile:       (877) 992-0118 

With required copies to: 

Blackstone Management Partners, L.L.C. 

345 Park Avenue, 31st Floor 
 New
York, New York 10154 
 Attention: Angelo Acconcia 

Facsimile: (212) 201-2874 

and 
 Kirkland & Ellis
LLP 
 609 Main Street 

Houston, Texas 77002 

Attention:       Matthew R. Pacey, P.C. 

                      William J.
Benitez, P.C. 
 Facsimile:     (713) 835-3601 

Email:           matt.pacey@kirkland.com 

                      
wbenitez@kirkland.com 
 (b) If to Vine Investment, to: 

Vine Investment LLC 
 c/o
Blackstone Management Partners, L.L.C. 
 345 Park Avenue, 31st Floor 

New York, New York 10154 

Attention: Angelo Acconcia 

Facsimile: (212) 201-2874 

  
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 With required copies to: 

Kirkland & Ellis LLP 

609 Main Street 
 Houston, Texas
77002 
 Attention:           Matthew R. Pacey, P.C. 

                        
  William J. Benitez, P.C. 
 Facsimile:         (713)
835-3601 
 Email:
              matt.pacey@kirkland.com 

                        
  wbenitez@kirkland.com
 (c) If to Brix Investment, to: 

Brix Investment LLC 
 c/o
Blackstone Management Partners, L.L.C. 
 345 Park Avenue, 31st Floor 

New York, New York 10154 

Attention: Angelo Acconcia 

Facsimile: (212) 201-2874 

With required copies to: 

Kirkland & Ellis LLP 

609 Main Street 
 Houston, Texas
77002 
 Attention:       Matthew R. Pacey, P.C. 

                      William J.
Benitez, P.C. 
 Facsimile:     (713) 835-3601 

Email:           matt.pacey@kirkland.com 

                      
wbenitez@kirkland.com
 (d) If to Harvest Investment, to: 

Harvest Investment LLC 
 c/o
Blackstone Management Partners, L.L.C. 
 345 Park Avenue, 31st Floor 

New York, New York 10154 

Attention: Angelo Acconcia 

Facsimile: (212) 201-2874 

With required copies to: 

Kirkland & Ellis LLP 

609 Main Street 
 Houston, Texas
77002 
 Attention:       Matthew R. Pacey, P.C. 

                      William J.
Benitez, P.C. 
 Facsimile:     (713) 835-3601 

Email:           matt.pacey@kirkland.com 

                      
wbenitez@kirkland.com

  
 8 

 3.5 Further Action. The Parties shall execute and deliver all documents,
provide all information and take or refrain from taking action as may be necessary or appropriate to achieve the purposes of this Agreement. 

3.6 Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors, assigns and
transferees of each of the parties hereto including, without limitation and without the need for an express assignment, subsequent holders of Class B Units and Class B Common Stock; provided that nothing herein shall be deemed to
permit any assignment, transfer or other disposition of Class B Units and Class B Common Stock in violation of the terms of the Vine Holdings LLC Agreement or applicable law. Any Class B Units or shares of Class B Common Stock
acquired from an Investment Entity (or a permitted assignee thereof) shall be entitled to all of the rights and be held subject to all of the obligations of this Agreement, and by taking and holding such Class B Units or shares of Class B
Common Stock, such assignee shall be conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of this Agreement. 

3.7 Third Party Beneficiary. Nothing in this Agreement, express or implied, is intended to or shall confer upon anyone other
than the Parties and their respective successors and permitted assigns any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

3.8 Section Headings. Headings contained in this Agreement are inserted only as a matter of convenience and in no way define,
limit or extend the scope or intent of this Agreement or any provisions thereof. 
 3.9 Severability. If any term or other
provision of this Agreement is held to be invalid, illegal or incapable of being enforced by any rule of law, or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the
economic or legal substance of the transactions is not affected in any manner materially adverse to any party. Upon a 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 a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated
to the fullest extent possible. 
 3.10 Integration. This Agreement constitutes the entire agreement among the Parties
pertaining to the subject matter hereof and supersedes all prior agreements and understandings pertaining thereto. 
 3.11
Waiver. No failure by any party to insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute waiver of any
such breach of any other covenant, duty, agreement or condition. 

  
 9 

 3.12 Submission to Jurisdiction; Waiver of Jury Trial. 

(a) Any and all disputes which cannot be settled amicably, 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 arbitration
provision) shall be finally settled by arbitration conducted by a single arbitrator in Delaware 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 thirty (30) days of the receipt of the request for arbitration, the International Chamber of Commerce shall make the appointment. The arbitrator shall be a lawyer and shall conduct the proceedings in the
English language. Performance under this Agreement shall continue if reasonably possible during any arbitration proceedings. 

(b) Notwithstanding the provisions of paragraph (a), in the case of matters relating to an Exchange, the Issuer may bring, on
behalf of the Issuer or Vine Holdings or on behalf of an Investment Entity, an action or special proceeding in any court of competent jurisdiction for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of
an arbitration hereunder, and/or enforcing an arbitration award and, for the purposes of this paragraph (b), Vine Holdings and each Investment Entity (i) expressly consent to the application of paragraph (c) of this
Section 3.12 to any such action or proceeding, (ii) agree that proof shall not be required that monetary damages for breach of the provisions of this Agreement would be difficult to calculate and that remedies at law
would be inadequate, and (iii) irrevocably appoint the Issuer, as their agent for service of process in connection with any such action or proceeding and agree that service of process upon such agent, who shall promptly advise Vine Holdings or
the Investment Entities, as applicable, of any such service of process, shall be deemed in every respect effective service of process upon Vine Holdings or the Investment Entities, as applicable, in any such action or proceeding. 

(c) THE PARTIES HEREBY IRREVOCABLY SUBMIT TO THE JURISDICTION OF COURTS LOCATED IN WILMINGTON, DELAWARE FOR THE PURPOSE OF ANY
JUDICIAL PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION 3.12, 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 paragraph (c) have a reasonable relation to this Agreement, and to the Parties’ relationship with one another. 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 the preceding paragraph of this Section 3.12 and such parties agree
not to plead or claim the same. 

  
 10 

 (d) Notwithstanding any provision of this Agreement to the contrary, this
Section 3.12 shall be construed to the maximum extent possible to comply with the laws of the State of Delaware, including the Delaware Uniform Arbitration Act (10 Del. C. § 5701 et seq.) (the “Delaware
Arbitration Act”). If, nevertheless, it shall be determined by a court of competent jurisdiction that any provision or wording of this Section 3.12, including any rules of the International Chamber of Commerce,
shall be invalid or unenforceable under the Delaware Arbitration Act, or other applicable law, such invalidity shall not invalidate all of this Section 3.12. In that case, this Section 3.12 shall
be construed so as to limit any term or provision so as to make it valid or enforceable within the requirements of the Delaware Arbitration Act or other applicable law, and, in the event such term or provision cannot be so limited, this
Section 3.12 shall be construed to omit such invalid or unenforceable provision. 
 3.13
Counterparts. This Agreement may be executed and delivered (including by facsimile transmission) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed and delivered shall
be deemed to be an original but all of which taken together shall constitute one and the same agreement. Copies of executed counterparts transmitted by telecopy or other electronic transmission service shall be considered original executed
counterparts for purposes of this Section 3.13. 
 3.14 Tax Treatment; Withholding.

 (a) To the extent this Agreement imposes obligations upon Vine Holdings, this Agreement shall be treated as part of the
Vine Holdings LLC Agreement as described in Section 761(c) of the Code and Sections 1.704-1(b)(2)(ii)(h) and 1.761-1(c) of the Treasury Regulations. 

(b) Each of the Issuer, Vine Holdings and their agents and affiliates shall have the right to deduct and withhold from any
consideration payable or otherwise deliverable upon an Exchange such amounts as may be required to be deducted or withheld therefrom under the Code or any provision of applicable law, and to the extent deduction and withholding is required, such
deduction and withholding may be taken in Class A Common Stock; provided that the Issuer may allow an exchanging Investment Entity to pay such taxes owed on an Exchange in cash in lieu of the Issuer withholding or deducting such Class A
Common Stock. Prior to making such deduction or withholding, the Issuer, Vine Holdings or the applicable agent or affiliate shall give written notice to the Investment Entity effecting such Exchange and reasonably cooperate with such Investment
Entity to reduce or avoid any such deduction or withholding. To the extent such amounts are so deducted or withheld and paid over to the relevant governmental authority, such amounts shall be treated for all purposes under this Agreement as having
been paid to the applicable Investment Entity, and, if withholding is taken in Class A Common Stock, the relevant withholding party shall be treated as having sold such Class A Common Stock on behalf of such Investment Entity for an amount
of cash equal to the fair market value thereof at the time of such deemed sale and paid such cash proceeds to the relevant governmental authority. 

3.15 Applicable Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware.

  
 11 

 3.16 Effective Date. This Agreement shall become effective upon the closing of
the IPO and shall be of no force and effect (i) prior to the closing of the IPO and (ii) if the closing of the IPO has not been consummated within ten (10) Business Days from the date of this Agreement. 

[Remainder of Page Intentionally Left Blank] 

  
 12 

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

			
	VINE ENERGY INC.
		
	By:	 	 /s/ Eric D. Marsh

	Name:	 	Eric D. Marsh
	Title:	 	President and Chief Executive Officer
	
	VINE ENERGY HOLDINGS LLC
		
	By:	 	 /s/ Eric D. Marsh

	Name:	 	Eric D. Marsh
	Title:	 	President and Chief Executive Officer
	
	VINE INVESTMENT LLC
		
	By:	 	 /s/ Eric D. Marsh

	Name:	 	Eric D. Marsh
	Title:	 	President and Chief Executive Officer
	
	BRIX INVESTMENT LLC
		
	By:	 	 /s/ Eric D. Marsh

	Name:	 	Eric D. Marsh
	Title:	 	President and Chief Executive Officer

 Signature Page to Exchange Agreement 

 
			
	HARVEST INVESTMENT LLC
		
	By:	 	 /s/ Eric D. Marsh

	Name:	 	Eric D. Marsh
	Title:	 	President and Chief Executive Officer

 Signature Page to Exchange AgreementEX-10.4

 Exhibit 10.4 

Execution Version 

REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (as amended, restated, supplemented or otherwise modified from time to time, this
“Agreement”) is dated as of March 22, 2021, by and among Vine Energy Inc., a Delaware corporation (the “Company”), Vine Investment LLC, a Delaware limited liability company (“Vine Investment”),
Brix Investment LLC, a Delaware limited liability company (“Brix Investment”), Harvest Investment LLC, a Delaware limited liability company (“Harvest Investment”, together with Vine Investment and Brix Investment,
the “Vine Energy Investment Entities”), and Vine Investment II LLC, a Delaware limited liability company (“Vine Investment II”), Brix Investment II LLC, a Delaware limited liability company (“Brix Investment
II”), and Harvest Investment II LLC, a Delaware limited liability company (“Harvest Investment II”, together with Vine Investment II and Brix Investment II, the “Vine Energy Investment II Entities,” and
together with the Vine Energy Investment Entities, the “Investment Entities”) and certain holders which hold Registrable Securities (as defined below) that join this Agreement pursuant to the provisions herein. Such holders of
Registrable Securities party hereto are collectively referred to herein as the “Securityholders.” 
 ARTICLE I 

DEFINITIONS 
 In this
Agreement: 
 “Affiliate” has the meaning ascribed thereto in Rule 12b-2
promulgated under the Exchange Act, as in effect on the date hereof. 
 “Agreement” has the meaning set forth in the
Preamble. 
 “Blackstone” means the entities comprising the Blackstone Holders, their respective Affiliates and the
successors and permitted assigns of the entities and their respective Affiliates. 
 “Blackstone Holders” means, upon
joining this Agreement, the Affiliates, and their successors or assigns, of The Blackstone Group L.P. who, at the time of this Agreement, held limited liability company interests in any of the Investment Entities. 

“Business Day” means a day other than a Saturday, Sunday, or other day on which commercial banks are authorized or required
by applicable law to be closed in New York, New York or Houston, Texas. 
 “Class A Common Stock” means
the shares of Class A common stock, par value $0.01 per share, of the Company, and any other capital stock of the Company into which such common stock is reclassified or reconstituted. 

“Class B Common Stock” means the shares of Class B common stock, par value $0.01 per share, of the
Company, and any other capital stock of the Company into which such common stock is reclassified or reconstituted. 

“Company” has the meaning set forth in the Preamble. 

 

 “Control” (including its correlative meanings, “Controlled
by” and “under common Control with”) means possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other
ownership interests, by contract or otherwise) of a Person. 
 “Demand Notice” has the meaning set forth in
Section 2.1(a) hereof. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder, as the same may be amended from time to time. 
 “Exchange Agreement”
means the Exchange Agreement, dated as of or about the date hereof, among the Company, VEH LLC and holders of LLC Units from time to time party thereto, as amended from time to time. 

“FINRA” means the Financial Industry Regulatory Authority, Inc. 

“Investment Entities” has the meaning set forth in the Preamble. 

“LLC Agreement” means the Amended and Restated Limited Liability Company Agreement of Vine Energy Holdings LLC, dated as of
March 17, 2021, as amended, restated, supplemented or modified, from time to time. 
 “LLC Units” means the units
representing membership interests in VEH LLC and any other class of units or interests that is established in VEH LLC. 

“Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock
company, a trust, a joint venture, a cooperative, an unincorporated organization, or other form of business organization, whether or not regarded as a legal entity under applicable law, or any governmental authority or any department, agency or
political subdivision thereof. 
 “Recognized Exchange” means The New York Stock Exchange or the Nasdaq Capital Market.

 “Registrable Securities” means shares of Class A Common Stock that may be delivered in exchange for LLC Units and
other shares of Class A Common Stock otherwise held by Securityholders from time to time. For purposes of this Agreement, Registrable Securities shall cease to be Registrable Securities when (i) a registration statement covering resales of
such Registrable Securities has been declared effective under the Securities Act by the SEC and such Registrable Securities have been disposed of pursuant to such effective registration statement, (ii) such Registrable Securities are eligible
to be sold by Securityholders owning such Registrable Securities (including Registrable Securities deliverable to a Securityholder under an effective Exchange Registration) pursuant to Rule 144 or 145 (or any similar provision then in effect) under
the Securities Act, without limitation thereunder on volume or manner of sale, unless such Registrable Securities are held by a Securityholder that beneficially owns Shares representing 5% or more of the aggregate voting power of shares of
Class A Common Stock and Class B Common Stock eligible to vote in the election of directors of the Company or (iii) such Registrable Securities cease to be outstanding (or issuable upon exchange). 

  
 2 

 “Registration Expenses” means any and all expenses incurred in connection
with the performance of or compliance with this Agreement, including: 
 (a) all SEC, stock exchange, or FINRA registration and filing fees
(including, if applicable, the fees and expenses of any “qualified independent underwriter,” as such term is defined in Rule 5121 of FINRA, and of its counsel); 

(b) all fees and expenses of complying with securities or blue sky laws (including fees and disbursements of counsel for the underwriters in
connection with blue sky qualifications of the Registrable Securities); 
 (c) all printing, messenger and delivery expenses; 

(d) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange or FINRA and all
rating agency fees; 
 (e) the reasonable fees and disbursements of counsel for the Company and of its independent public accountants,
including the expenses of any special audits and/or comfort letters required by or incident to such performance and compliance; 
 (f) any
fees and disbursements of underwriters customarily paid by the issuers or sellers of Securities, including liability insurance if the Company so desires or if the underwriters so require, and the reasonable fees and expenses of any special experts
retained in connection with the requested registration, but excluding underwriting discounts and commissions and transfer taxes, if any; 

(g) the reasonable fees and out-of-pocket expenses of not more
than one law firm (as selected by Blackstone, if it is participating in such registration, and otherwise, by Securityholders of a majority of the Registrable Securities included in such registration) incurred by all the Securityholders in connection
with the registration; 
 (h) the costs and expenses of the Company relating to analyst and investor presentations or any “road
show” undertaken in connection with the registration and/or marketing of the Registrable Securities (including the reasonable out-of-pocket expenses of the
Securityholders); and 
 (i) any other fees and disbursements customarily paid by the issuers of Securities. 

“SEC” means the U.S. Securities and Exchange Commission or any successor agency. 

“Shares” means shares of Class A Common Stock of the Company. Shares held by or on behalf of a Securityholder the
certificate for which does not bear a Securities Act restrictive legend, which Shares may be resold freely without registration under the Securities Act, will not be considered Shares for purposes of the demand and piggyback provisions of this
Agreement. 

  
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 “Securities” means capital stock, limited partnership interests, limited
liability company interests, beneficial interests, warrants, options, notes, bonds, debentures, and other securities, equity interests, ownership interests and similar obligations of every kind and nature of any Person. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, as the
same may be amended from time to time. 
 “Securityholders” has the meaning set forth in the Preamble. 

“Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership, association or other
business entity of which: (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, representatives or trustees thereof is
at the time owned or Controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof; or (ii) if a limited liability company, partnership, association or other business entity,
a majority of the total voting power of stock (or equivalent ownership interest) of the limited liability company, partnership, association or other business entity is at the time owned or Controlled, directly or indirectly, by any Person or one or
more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity if such
Person or Persons shall be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or shall be or Control the managing director or general partner of such limited liability company,
partnership, association or other business entity. 
 “VEH LLC” means Vine Energy Holdings LLC, a Delaware limited
liability company. 
 “WKSI” means a well-known seasoned issuer, as defined in Rule 405 under the Securities Act. 

ARTICLE II 
 DEMAND AND
PIGGYBACK RIGHTS 
 2.1 Right to Demand a Non-Shelf Registered Offering.

 (a) Upon the written demand of any of the Investment Entities or Blackstone made at any time and from time to time (a “Demand
Notice”), the Company will facilitate in the manner described in this Agreement a non-shelf registered offering of the Registrable Securities requested by Blackstone, or any of the Investment Entities
to be included in such offering. 
 (b) Any demanded non-shelf registered offering may, at the
Company’s option, include Shares to be sold by the Company for its own account and will also include Registrable Securities to be sold by Securityholders that exercise their related piggyback rights pursuant to
Section 2.2 hereof and any other Registrable Securities to be sold by the holders of registration rights granted other than pursuant to this Agreement exercising such rights, in each case, to the extent exercising such
rights on a timely basis. In order to be valid, the Demand Notice must provide the information described in Section 3.1 hereof (if applicable) and Section 4.5 hereof or be followed by such
information, when requested as contemplated by Section 4.5 hereof. 

  
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 (c) Without limiting any other obligations of the Company hereunder, as soon as reasonably
practicable, but in no event later than 60 days after receiving a valid Demand Notice satisfying the criteria set forth in Section 2.1 hereof, the Company shall file with the SEC a registration statement covering all of the
Registrable Securities covered by such Demand Notice as well as any other Registrable Securities as to which registration is properly requested in accordance with Section 2.2 hereof (which other Registrable Securities may
be included by means of a pre-effective amendment) and any other registrable securities properly requested in accordance with other registration rights agreements with the Company, but subject in each case to
any cutbacks imposed in accordance with Section 3.5 hereof and the limitations set forth in Section 2.5 hereof. 

2.2 Right to Piggyback on a Non-Shelf Registered Offering. In connection with any
registered offering of Shares covered by a non-shelf registration statement (whether pursuant to the exercise of demand rights or at the initiative of the Company), the Securityholders may exercise piggyback
rights to have included in such offering Registrable Securities held by them, subject in each case to any cutbacks imposed in accordance with Section 3.5 hereof and the limitations set forth in
Section 2.5 hereof. The Company will facilitate in the manner described in this Agreement any such non-shelf registered offering. 

2.3 Right to Demand and be Included in a Shelf Registration. Upon the demand of any of the Investment Entities or
Blackstone, made at any time and from time to time when the Company is eligible to utilize Form S-3 or a successor form to sell Shares in a secondary offering on a delayed or continuous basis in accordance
with Rule 415 under the Securities Act, the Company will facilitate in the manner described in this Agreement a shelf registration of Registrable Securities held by the Securityholders. Any shelf registration filed pursuant to this
Section 2.3 by the Company covering Shares (whether pursuant to a demand by any of the Investment Entities or Blackstone or at the initiative of the Company) will cover Registrable Securities held by each of the
Securityholders (regardless of whether they demanded the filing of such shelf or not) equal to the percentage of their original respective holdings as is requested by any of the Investment Entities or Blackstone with respect to the Registrable
Securities of any of the Investment Entities or Blackstone to be included in such shelf. If at the time of such request the Company is eligible for WKSI status, such shelf registration shall, upon the approval of the board of directors of the
Company, cover an unspecified number of Registrable Securities to be sold by the Company and its Securityholders. 
 2.4 Demand
and Piggyback Rights for Shelf Takedowns. Upon the demand of any of the Investment Entities or Blackstone, made at any time and from time to time, the Company will facilitate in the manner described in this Agreement a “takedown”
of Registrable Securities off of an effective shelf registration statement. In connection with any underwritten shelf takedown (whether pursuant to the exercise of such demand rights by any of the Investment Entities or Blackstone or at the
initiative of the Company), the Securityholders may exercise piggyback rights to have included in such takedown Registrable Securities held by them that are registered on such shelf. 

  
 5 

 2.5 Limitations on Demand and Piggyback Rights. 

(a) Any demand for the filing of a registration statement or for a registered offering or takedown, and the exercise of any piggyback
registration rights, will be subject to the constraints of any applicable lockup arrangements, and any such demand must be deferred until such lockup arrangements no longer apply. If a demand has been made for a
non-shelf registered offering or for an underwritten takedown, no further demands may be made so long as the related offering is still being pursued. Notwithstanding anything in this Agreement to the contrary,
the Securityholders will not have piggyback or other registration rights with respect to the following registered primary offerings by the Company: (i) a registration relating solely to employee benefit plans; (ii) a registration on Form S-4 or S-8 (or other similar successor forms then in effect under the Securities Act); (iii) a registration pursuant to which the Company is offering to exchange its own
Securities for other Securities; (iv) a registration statement relating solely to dividend reinvestment or similar plans; (v) a shelf registration statement pursuant to which only the initial purchasers and subsequent transferees of debt
securities of the Company or any Subsidiary that are convertible for common equity and that are initially issued pursuant to Rule 144A and/or Regulation S of the Securities Act may resell such notes and sell the common equity into which such notes
may be converted; (vi) a registration where the Registrable Securities are not being sold for cash or (vii) an exchange registration. 

(b) The Company may postpone the filing of a demanded registration statement or suspend the effectiveness of any shelf registration statement
for a reasonable “blackout period” not in excess of 90 days if the board of directors of the Company determines in good faith that such registration or offering could materially interfere with a bona fide business, acquisition or
divestiture or financing transaction of the Company or is reasonably likely to require premature disclosure of information, the premature disclosure of which could materially and adversely affect the Company; provided that the Company shall
not delay the filing of any demanded registration statement more than once in any 12-month period. The blackout period will end upon the earlier to occur of, (i) in the case of a bona fide
business, acquisition or divestiture or financing transaction, a date not later than 90 days from the date such deferral commenced, and (ii) in the case of disclosure of non-public information, the
earlier to occur of (x) the filing by the Company of its next succeeding Form 10-K or Form 10-Q, or (y) the date upon which such information is otherwise
disclosed. 
 ARTICLE III 

NOTICES, CUTBACKS AND OTHER MATTERS 

3.1 Notifications Regarding Registration Statements. In order for any of the Investment Entities or Blackstone to
exercise their right to demand that a registration statement be filed, they must include in their Demand Notice the number of Registrable Securities sought to be registered and the proposed plan of distribution. In the event that the Company is
required to cutback or adjust the amount of the Registrable Securities to be included in a registration statement or offering, the Company shall adjust the Registrable Securities included by each of the Investment Entities on a pro rata basis
amongst such entities. 

  
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 3.2 Notifications Regarding Registration Piggyback Rights. 

(a) In the event that the Company receives (i) any demand from any of the Investment Entities or Blackstone pursuant to
Section 2.1 hereof, or (ii) if the Company files a registration statement with respect to a non-shelf registered offering, the Company will promptly give to each of the
Securityholders a written notice thereof no later than 5:00 p.m., New York City time, on the fifth Business Day following receipt by the Company of such demand or the filing of such registration statement, as applicable. Any Securityholder wishing
to exercise its piggyback rights with respect to any such non-shelf registration statement must notify the Company and the other Securityholders of the number of Registrable Securities it seeks to have
included in such registration statement in a written notice. Such notice must be given as soon as practicable, but in no event later than 5:00 p.m., New York City time, on the second Business Day prior to (i) if applicable, the date on which
the preliminary prospectus intended to be used in connection with pre-effective marketing efforts for the relevant offering is expected to be finalized, and (ii) in any case, the date on which the pricing
of the relevant offering is expected to occur. No such notice is required in connection with a shelf registration statement, as Registrable Securities held by all Securityholders will be included up to the applicable percentage. 

(b) Pending any required public disclosure and subject to applicable legal requirements, the parties will maintain appropriate confidentiality
of their discussions regarding a prospective non-shelf registration. 
 3.3
Notifications Regarding Demanded Underwritten Takedowns. 
 (a) The Company will keep the Securityholders reasonably
apprised of all pertinent aspects of any underwritten shelf takedown demanded by any of the Investment Entities or Blackstone in order that Securityholders may have a reasonable opportunity to exercise their related piggyback rights. Without
limiting the Company’s obligation as described in the preceding sentence, having a reasonable opportunity requires that the Securityholders be notified by the Company of an anticipated underwritten takedown (whether pursuant to a demand made by
any of the Investment Entities or Blackstone or made at the Company’s own initiative) no later than 5:00 p.m., New York City time, on (i) if applicable, the second Business Day prior to the date on which the preliminary prospectus or
prospectus supplement intended to be used in connection with pre-pricing marketing efforts for such takedown is finalized, and (ii) in all cases, the second Business Day prior to the date on which the
pricing of the relevant takedown occurs. 
 (b) Any Securityholder wishing to exercise its piggyback rights with respect to an underwritten
shelf takedown must notify the Company and the other Securityholders of the number of Registrable Securities it seeks to have included in such takedown. Such notice must be given as soon as practicable, but in no event later than 5:00 p.m., New York
City time, on (i) if applicable, the Business Day prior to the date on which the preliminary prospectus or prospectus supplement intended to be used in connection with marketing efforts for the relevant offering is expected to be finalized, and
(ii) in all cases, the Business Day prior to the date on which the pricing of the relevant takedown occurs. 
 (c) Pending any required
public disclosure and subject to applicable legal requirements, the parties will maintain appropriate confidentiality of their discussions regarding a prospective underwritten takedown. 

  
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 3.4 Plan of Distribution, Underwriters, Advisors and Counsel. If a
majority of the Registrable Securities proposed to be sold in an underwritten offering through a non-shelf registration statement or through a shelf takedown is being sold by the Company for its own account,
the Company will be entitled to determine the plan of distribution and select the managing underwriters and any provider of advisory services, which may include Affiliates of Blackstone, for such offering. Otherwise, Securityholders holding a
majority of the Shares requested to be included will be entitled to determine the plan of distribution and select the managing underwriters and any provider of advisory services, which may include Affiliates of Blackstone; provided that such
investment banker or bankers, managers and providers of advisory services shall be reasonably satisfactory to the Company, and will also be entitled to select counsel for the selling Securityholders (which may be the same as counsel for the
Company). 
 3.5 Cutbacks. If the managing underwriters advise the Company and the selling Securityholders that, in
their opinion, the number of Registrable Securities requested to be included in an underwritten offering exceeds the amount that can be sold in such offering without adversely affecting the distribution of the Registrable Securities being offered,
the price that will be paid in such offering or the marketability thereof, such offering will include only the number of Registrable Securities that the underwriters advise can be sold in such offering. If the Company is selling Registrable
Securities for its own account in such offering and the offering is not being made on account of a demand made by any of the Investment Entities or Blackstone pursuant to Section 2.1 hereof, the Company will have first
priority. To the extent of any remaining capacity, and in all other cases, the selling Securityholders (and any other Persons having registration rights pari passu with the Securityholders and participating in such offering) and the Company
will be subject to cutback pro rata based on the number of Registrable Securities initially requested by them to be included in such offering, without distinguishing between Securityholders (or other Persons exercising pari passu
registration rights) based on who made the demand for such offering or otherwise. 
 3.6 Withdrawals. Even if
Registrable Securities held by a Securityholder have been part of a registered underwritten offering, such Securityholder may, no later than the time at which the public offering price and underwriters’ discount are determined with the managing
underwriter, decline to sell all or any portion of the Registrable Securities being offered for its account. 
 3.7
Lockups. In connection with any underwritten offering of Shares, the Company and each Securityholder participating in such offering will agree (in the case of Securityholders, with respect to Registrable Securities respectively
held by them) to be bound by the underwriting agreement’s lockup restrictions (which must apply in like manner to all of them) that are agreed to by the Company. In addition, the Securityholders shall be bound by their obligations with respect
to any lockup arrangements or other restrictions on transfer of Registrable Securities set forth in the LLC Agreement. 
 ARTICLE IV

 FACILITATING REGISTRATIONS AND OFFERINGS 

4.1 General. If the Company becomes obligated under this Agreement to facilitate a registration and offering of
Registrable Securities on behalf of Securityholders, the Company will do so with the same degree of care and dispatch as would reasonably be expected in the case of a registration and offering by the Company of Registrable Securities for its own
account. Without limiting this general obligation, the Company will fulfill its specific obligations as described in this Article IV. 

  
 8 

 4.2 Registration Statements. In connection with each registration
statement that is demanded by Securityholders in accordance with this Agreement or as to which piggyback rights otherwise apply, the Company will: 

(a) (1) prepare and file with the SEC a registration statement on an appropriate form covering the applicable Registrable Securities,
(2) file amendments thereto as warranted, (3) seek the effectiveness thereof, and (4) file with the SEC prospectuses and prospectus supplements as may be required, all in consultation with Blackstone and as reasonably necessary in
order to permit the offer and sale of the such Registrable Securities in accordance with the applicable plan of distribution; 
 (b) (1)
within a reasonable time prior to the filing of any registration statement, any prospectus, any amendment to a registration statement, amendment or supplement to a prospectus or any free writing prospectus (in each case including all exhibits filed
therewith), provide copies of such documents to the selling Securityholders and to the underwriter or underwriters of an underwritten offering, if applicable, and to their respective counsel; fairly consider such reasonable changes in any such
documents prior to or after the filing thereof as the counsel to the Securityholders or the underwriter or the underwriters may request; and make such of the representatives of the Company as shall be reasonably requested by the selling
Securityholders or any underwriter available for discussion of such documents; and (2) within a reasonable time prior to the filing of any document which is to be incorporated by reference into a registration statement or a prospectus, provide
copies of such document to counsel for the Securityholders and underwriters; fairly consider such reasonable changes in such document prior to or after the filing thereof as counsel for such Securityholders or such underwriter shall request; and
make such of the representatives of the Company as shall be reasonably requested by such counsel available for discussion of such document; 

(c) use all reasonable efforts to cause each registration statement and the related prospectus and any amendment or supplement thereto, as of
the effective date of such registration statement, amendment or supplement and during the distribution of the registered Registrable Securities (x) to comply in all material respects with the requirements of the Securities Act (including the
rules and regulations promulgated thereunder) and (y) not to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; 

(d) notify each Securityholder promptly, and, if requested by such Securityholder, confirm such advice in writing, (i) when a registration
statement has become effective and when any post-effective amendments and supplements thereto become effective if such registration statement or post-effective amendment is not automatically effective upon filing pursuant to Rule 462 under the
Securities Act, (ii) of the issuance by the SEC or any state securities authority of any stop order, injunction or other order or requirement suspending the effectiveness of a registration statement or the initiation of any proceedings for that
purpose, (iii) if, between the effective date of a registration statement and the closing of any sale of securities covered thereby pursuant to any agreement to which the Company is a party, the representations and warranties of

  
 9 

 
the Company contained in such agreement cease to be true and correct in all material respects or if the Company receives any notification with respect to the suspension of the qualification of
the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose, and (iv) of the happening of any event during the period a registration statement is effective as a result of which such registration
statement or the related prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading; 

(e) furnish counsel for each underwriter, if any, and for the Securityholders copies of any correspondence with the SEC or any state securities
authority relating to the registration statement or prospectus; 
 (f) otherwise use all reasonable efforts to comply with all applicable
rules and regulations of the SEC, including making available to its security holders an earnings statement covering at least 12 months which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any
similar provision then in force); and 
 (g) use all reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of
a registration statement at the earliest possible time. 
 4.3 Non-Shelf Registered
Offerings and Shelf Takedowns. In connection with any non-shelf registered offering or shelf takedown that is demanded by Securityholders or as to which piggyback rights otherwise apply, the Company
will: 
 (a) cooperate with the selling Securityholders and the sole underwriter or managing underwriter of an underwritten offering, if any,
to facilitate the timely preparation and delivery of certificates representing the Registrable Securities to be sold and not bearing any restrictive legends; and enable such Registrable Securities to be in such denominations (consistent with the
provisions of the governing documents thereof) and registered in such names as the selling Securityholders or the sole underwriter or managing underwriter of an underwritten offering of Registrable Securities, if any, may reasonably request at least
five days prior to any sale of such Registrable Securities; 
 (b) furnish to each Securityholder and to each underwriter, if any,
participating in the relevant offering, without charge, as many copies of the applicable prospectus, including each preliminary prospectus, and any amendment or supplement thereto and such other documents as such Securityholder or underwriter may
reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities; the Company hereby consents to the use of the prospectus, including each preliminary prospectus, by each such Securityholder and
underwriter in connection with the offering and sale of the Registrable Securities covered by the prospectus or the preliminary prospectus; 

(c) (1) use all reasonable efforts to register or qualify the Registrable Securities being offered and sold, no later than the time the
applicable registration statement becomes effective, under all applicable state securities or blue sky laws of such jurisdictions as each underwriter, if any, or any Securityholder holding Registrable Securities covered by a registration statement,
shall reasonably request; (2) use all reasonable efforts to keep each such registration or 

  
 10 

 qualification effective during the period such registration statement is required to be kept
effective; and (3) do any and all other acts and things which may be reasonably necessary or advisable to enable each such underwriter, if any, and Securityholder to consummate the disposition in each such jurisdiction of such Registrable
Securities owned by such Securityholder; provided, however, that the Company shall not be obligated to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to consent to
be subject to general service of process (other than service of process in connection with such registration or qualification or any sale of Registrable Securities in connection therewith) in any such jurisdiction; 

(d) cause all Registrable Securities being sold to be qualified for inclusion in or listed on any Recognized Exchange on which Registrable
Securities issued by the Company are then so qualified or listed if so requested by the Securityholders, or if so requested by the underwriter or underwriters of an underwritten offering of Registrable Securities, if any; 

(e) cooperate and assist in any filings required to be made with FINRA and in the performance of any due diligence investigation by any
underwriter in an underwritten offering; 
 (f) use all reasonable efforts to facilitate the distribution and sale of any Registrable
Securities to be offered pursuant to this Agreement, including without limitation by making “road show” presentations, holding meetings with and making calls to potential investors and taking such other actions as shall be requested by the
Securityholders or the lead managing underwriter of an underwritten offering; 
 (g) in the case of an offering that includes a provider of
advisory services, enter into and perform its obligations under customary agreements (including an advisory services agreement and an indemnification agreement in customary form); and 

(h) enter into customary agreements (including, in the case of an underwritten offering, underwriting agreements in customary form, and
including provisions with respect to indemnification and contribution in customary form and consistent with the provisions relating to indemnification and contribution contained herein) and take all other customary and appropriate actions in order
to expedite or facilitate the disposition of such Registrable Securities and in connection therewith: 
 (1) make such
representations and warranties to the selling Securityholders and the underwriters, if any, in form, substance and scope as are customarily made by issuers to underwriters in similar underwritten offerings; 

(2) obtain opinions of counsel to the Company and updates thereof (which counsel and opinions (in form, scope and substance)
shall be reasonably satisfactory to the lead managing underwriter, if any) addressed to each selling Securityholder and the underwriters, if any, covering the matters customarily covered in opinions requested in sales of securities or underwritten
offerings and such other matters as may be reasonably requested by such Securityholders and underwriters; 

  
 11 

 (3) obtain “cold comfort” letters and updates thereof from the
Company’s independent certified public accountants addressed to the selling Securityholders, if permissible, and the underwriters, if any, which letters shall be customary in form and shall cover matters of the type customarily covered in
“cold comfort” letters to underwriters in connection with primary underwritten offerings; and 
 (4) to the extent
requested and customary for the relevant transaction, enter into a Securities sales agreement with the Securityholders providing for, among other things, the appointment of such representative as agent for the selling Securityholders for the purpose
of soliciting purchases of Registrable Securities, which agreement shall be customary in form, substance and scope and shall contain customary representations, warranties and covenants. 

The above shall be done at such times as customarily occur in similar registered offerings or shelf takedowns. 

4.4 Due Diligence. In connection with each registration and offering of Registrable Securities to be sold by
Securityholders, the Company will, in accordance with customary practice, make available for inspection by underwriters and any counsel or accountant retained by such underwriters all relevant financial and other records, pertinent corporate
documents and properties of the Company and cause appropriate officers, managers, employees, outside counsel and accountants of the Company to supply all information reasonably requested by any such underwriter, counsel or accountant in connection
with their due diligence exercise, including through in-person meetings, but subject to customary privilege constraints. 

4.5 Information from Securityholders. Each Securityholder that holds Registrable Securities covered by any registration
statement will furnish to the Company such information regarding itself as is required to be included in the registration statement or is otherwise required by FINRA or the SEC in connection with such registration statement, the ownership of
Registrable Securities by such Securityholder and the proposed distribution by such Securityholder of such Registrable Securities as the Company may from time to time reasonably request in writing. 

4.6 Expenses. All Registration Expenses incurred in connection with any registration statement or registered offering
covering Registrable Securities held by the Securityholders will be borne by the Company. However, underwriters’, brokers’ and dealers’ discounts and commissions applicable to Registrable Securities sold for the account of a
Securityholder will be borne by such Securityholder. 
 ARTICLE V 

INDEMNIFICATION 
 5.1
Indemnification by the Company. In the event of any registration under the Securities Act by any registration statement pursuant to rights granted in this Agreement of Registrable Securities held by Securityholders, the Company
will indemnify and hold harmless Securityholders, their officers, directors and affiliates, and each underwriter of such securities and each other Person, if any, who Controls any Securityholder or such underwriter within the meaning of the
Securities Act, against any losses, claims, damages, or liabilities (including legal fees and costs of court), joint or several, to which Securityholders or such underwriter or controlling Person 

  
 12 

 
may become subject under the Securities Act or otherwise, including any amount paid in settlement of any litigation commenced or threatened, and shall promptly reimburse such Persons, as and when
incurred, for any legal or other expenses reasonably incurred by them in connection with investigating any claims and defending any actions, insofar as such losses, claims, damages, or liabilities (or any actions in respect thereof) arise out of or
are based upon any violation or alleged violation by the Company of the Securities Act, any blue sky laws, securities laws or other applicable laws of any state or country in which such Shares are offered and relating to action taken or action or
inaction required of the Company in connection with such offering, or arise out of or are based upon any untrue statement or alleged untrue statement of any material fact (i) contained, on its effective date, in any registration statement under
which such securities were registered under the Securities Act or any amendment or supplement to any of the foregoing, or which arise out of or are based upon the omission or alleged omission to state a material fact required to be stated therein or
necessary to make the statements therein not misleading or (ii) contained in any preliminary prospectus, if used prior to the effective date of such registration statement, or in the final prospectus (as amended or supplemented if the Company
shall have filed with the SEC any amendment or supplement to the final prospectus), or which arise out of or are based upon the omission or alleged omission to state a material fact required to be stated in such prospectus or necessary to make the
statements in such prospectus not misleading; and will reimburse Securityholders and each such underwriter and each such controlling Person for any legal or any other expenses reasonably incurred by them in connection with investigating or defending
any such loss, claim, damage, or liability; provided, however, that the Company shall not be liable to any Securityholder or its underwriters or controlling Persons in any such case to the extent that any such loss, claim, damage, or
liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement or such amendment or supplement, in reliance upon and in conformity with information
furnished to the Company through a written instrument duly executed by Securityholders or such underwriter specifically for use in the preparation thereof. 

5.2 Indemnification by Securityholders. Each Securityholder as a condition to including Registrable Securities in such
registration statement will indemnify and hold harmless (in the same manner and to the same extent as set forth in Section 5.1 hereof) the Company, each director of the Company, each officer of the Company who shall sign
the registration statement, and any Person who Controls the Company within the meaning of the Securities Act, (i) with respect to any statement or omission from such registration statement, or any amendment or supplement to it, if such
statement or omission was made in reliance upon and in conformity with information furnished to the Company through a written instrument duly executed by such Securityholder specifically regarding such Securityholder for use in the preparation of
such registration statement or amendment or supplement, and (ii) with respect to compliance by such Securityholder with applicable laws in effecting the sale or other disposition of the securities covered by such registration statement. 

5.3 Indemnification Procedures. Promptly after receipt by an indemnified party of notice of the commencement of any action
involving a claim referred to in Section 5.1 and Section 5.2 hereof, the indemnified party will, if a claim in respect thereof is to be made or may be made against an indemnifying party, give
written notice to such indemnifying party of the commencement of the action. The failure of any indemnified party to give notice shall not relieve the indemnifying party of its obligations in this Article V, except to the extent that the

  
 13 

 
indemnifying party is actually prejudiced by the failure to give notice. If any such action is brought against an indemnified party, the indemnifying party will be entitled to participate in and
to assume the defense of the action with counsel reasonably satisfactory to the indemnified party, and after notice from the indemnifying party to such indemnified party of its election to assume defense of the action, the indemnifying party will
not be liable to such indemnified party for any legal or other expenses incurred by the latter in connection with the action’s defense other than reasonable costs of investigation. An indemnified party shall have the right to employ separate
counsel in any action or proceeding and participate in the defense thereof, but the fees and expenses of such counsel shall be at such indemnified party’s expense unless (i) the employment of such counsel has been specifically authorized
in writing by the indemnifying party, which authorization shall not be unreasonably withheld, (ii) the indemnifying party has not assumed the defense and employed counsel reasonably satisfactory to the indemnified party within thirty
(30) days after notice of any such action or proceeding, or (iii) the named parties to any such action or proceeding (including any impleaded parties) include the indemnified party and the indemnifying party and the indemnified party shall
have been advised by such counsel that there may be one or more legal defenses available to the indemnified party that are different from or additional to those available to the indemnifying party (in which case the indemnifying party shall not have
the right to assume the defense of such action or proceeding on behalf of the indemnified party), it being understood, however, that the indemnifying party shall not, in connection with any one such action or separate but substantially similar or
related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one separate firm of attorneys (in addition to all local counsel which is necessary,
in the good faith opinion of both counsel for the indemnifying party and counsel for the indemnified party in order to adequately represent the indemnified parties) for the indemnified party and that all such fees and expenses shall be reimbursed as
they are incurred upon written request and presentation of invoices. Whether or not a defense is assumed by the indemnifying party, the indemnifying party will not be subject to any liability for any settlement made without its consent (not to be
unreasonably withheld). No indemnifying party will consent to entry of any judgment or enter into any settlement which (i) does not include as an unconditional term the giving by the claimant or plaintiff, to the indemnified party, of a release
from all liability in respect of such claim or litigation or (ii) involves the imposition of equitable remedies or the imposition of any non-financial obligations on the indemnified party. 

5.4 Contribution. If the indemnification required by this Article V from the indemnifying party is unavailable to or
insufficient to hold harmless an indemnified party in respect of any indemnifiable losses, claims, damages, liabilities, or expenses, then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of
such losses, claims, damages, liabilities, or expenses in such proportion as is appropriate to reflect (i) the relative benefit of the indemnifying and indemnified parties and (ii) if the allocation in clause (i) is not permitted by
applicable law, in such proportion as is appropriate to reflect the relative benefit referred to in clause (i) and also the relative fault of the indemnified and indemnifying parties, in connection with the actions which resulted in such
losses, claims, damages, liabilities, or expenses, as well as any other relevant equitable considerations. The relative benefits received by a party shall be deemed to be in the same proportion as the total net proceeds from the offering (before
deducting expenses) received by it bear to the total amounts (including, in the case of any underwriter, any underwriting commissions and discounts) received by each other party. The relative fault of the indemnifying party and the indemnified party
shall 

  
 14 

 
be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact, has been made by, or relates to information
supplied by, such indemnifying party or parties, and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such action. The amount paid or payable by a party as a result of the losses, claims,
damage, liabilities, and expenses referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such party in connection with any investigation or proceeding. The Company and Securityholders agree that it
would not be just and equitable if contribution pursuant to this Section 5.4 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations
referred to in the prior provisions of this Section 5.4. 
 Notwithstanding the provisions of this
Section 5.4, no indemnifying party shall be required to contribute any amount in excess of the amount by which the total price at which the securities were offered to the public by such indemnifying party exceeds the amount
of any damages which such indemnifying party has otherwise been required to pay by reason of an untrue statement or omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution from any Person who was not guilty of such a fraudulent misrepresentation. 
 ARTICLE VI 

OTHER AGREEMENTS 
 6.1
Assignment. Neither the Company nor any Securityholder shall assign all or any part of this Agreement without the prior written consent of the Company and Blackstone; provided, however, that without the prior written consent of the
Company and Blackstone, Blackstone, any of the Investment Entities may assign their rights and obligations under this Agreement in whole or in part to (x) any of their Affiliates and/or (y) any Person who becomes a holder of Registrable
Securities upon a distribution by any of the Investment Entities or Blackstone of shares of Class A Common Stock or LLC Units to their members, limited partners or stockholders that becomes a party hereto by executing and delivering an
assignment and joinder agreement to the Company, substantially in the form of Exhibit A to this Agreement; provided, that unless otherwise agreed to in advance by the Company and Blackstone in writing, in no event shall any Securityholder
(other than Blackstone and its Affiliates) be entitled to any “demand rights” under this Agreement pursuant to an assignment under this Section 6.1. Except as otherwise provided herein, this Agreement will inure
to the benefit of and be binding on the parties hereto and their respective successors and permitted assigns. 
 6.2 Merger or
Consolidation. In the event the Company engages in a merger or consolidation in which the Registrable Securities are converted into securities of another company, appropriate arrangements will be made so that the registration rights provided
under this Agreement continue to be provided to Securityholders by the issuer of such securities. To the extent such new issuer, or any other company acquired by the Company in a merger or consolidation, was bound by registration rights obligations
that would conflict with the provisions of this Agreement, the Company will, unless Securityholders then holding at least 90% of the Registrable Securities otherwise agree, use its commercially reasonable efforts to modify any such
“inherited” registration rights obligations so as not to interfere in any material respects with the rights provided under this Agreement. To the extent any such modification of “inherited” registration rights disproportionately
and adversely impacts any Securityholder hereunder, such modification shall not be effective as to such Securityholder without the consent of such Securityholder. 

  
 15 

 6.3 Limited Liability. Notwithstanding any other provision of this
Agreement, neither the members, general partners, limited partners or managing directors, or any directors or officers of any members, general or limited partner, advisory director, nor any future members, general partners, limited partners,
advisory directors, or managing directors, if any, of any Securityholder shall have any personal liability for performance of any obligation of such Securityholder under this Agreement in excess of the respective capital contributions of such
members, general partners, limited partners, advisory directors or managing directors to such Securityholder. 
 6.4 Rule
144. If the Company is subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act, the Company covenants that it will file any reports required to be filed by it under the Securities Act and the Exchange Act (or, if the
Company is subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act but is not required to file such reports, it will, upon the request of any Securityholder, make publicly available such information) and it will take such
further action as any Securityholder may reasonably request, so as to enable such Securityholder to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by (a) Rule 144 under
the Securities Act, as such Rule may be amended from time to time, or (b) any similar rule or regulation hereafter adopted by the SEC. Upon the request of any Securityholder, the Company will deliver to such Securityholder a written statement
as to whether it has complied with such requirements. For the avoidance of doubt, this Section 6.4 shall not in any way limit or otherwise modify any applicable restrictions on transfer set forth in the LLC Agreement. 

6.5 In-Kind Distributions. If any Securityholder seeks to effectuate an in-kind distribution of all or part of its Registrable Securities to its direct or indirect equityholders, the Company will, subject to applicable lockups, work with such Securityholder and the Company’s
transfer agent to facilitate such in-kind distribution in the manner reasonably requested by such Securityholder. 

ARTICLE VII 

MISCELLANEOUS 
 7.1
Notices. All notices, requests, demands and other communications required or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, telex, fax or air courier guaranteeing delivery to the Persons
at the respective addresses set forth below or pursuant to such other instructions as may be designated in writing by the party to receive such notice. 
  

	 	(a)	 If to the Company, to: 

Vine Energy Inc. 
 5800 Granite
Parkway, Suite 550 
 Plano, Texas 75024 

Attention: Eric Marsh, Chief Executive Officer 

Fax: (877) 992-0118 
  

  
 16 

 with a copy (not constituting notice) to : 

Kirkland & Ellis LLP 

609 Main Street 
 Houston, Texas
77002 
 Attention: Matthew R. Pacey and Michael W. Rigdon 

Fax: (713) 835-3601 
  

	 	(b)	 If to the Blackstone Holders, to: 

The Blackstone Group L.P. 
 345
Park Avenue, Suite 3300 
 New York, New York 10154 

Attention: Angelo G. Acconcia 

Fax: (212) 201-2874 

with a copy (not constituting notice) to: 

Kirkland & Ellis LLP 

609 Main Street 
 Houston, Texas
77002 
 Attention: Matthew R. Pacey and William J. Benitez 

Fax: (713) 835-3601 
  

	 	(c)	 If to either of Vine Investment or Vine Investment II, to: 

Vine Investment LLC 
 c/o
Blackstone Management Partners, L.L.C. 
 345 Park Avenue, 31st Floor 

New York, New York 10154 

Attention: Angelo G. Acconcia 

Fax: (212) 201-2874 

with a copy (not constituting notice) to : 

Kirkland & Ellis LLP 

609 Main Street 
 Houston, Texas
77002 
 Attention: Matthew R. Pacey and William J. Benitez 

Fax: (713) 835-3601 
  

	 	(d)	 If to either of Brix Investment or Brix Investment II, to: 

Brix Investment LLC 
 c/o
Blackstone Management Partners, L.L.C. 
 345 Park Avenue, 31st Floor 

  
 17 

 New York, New York 10154 

Attention: Angelo G. Acconcia 

Fax: (212) 201-2874 

with a copy (not constituting notice) to : 

Kirkland & Ellis LLP 

609 Main Street 
 Houston, Texas
77002 
 Attention: Matthew R. Pacey and William J. Benitez 

Fax: (713) 835-3601 
  

	 	(e)	 If to either of Harvest Investment or Harvest Investment II, to: 

Harvest Investment LLC 
 c/o
Blackstone Management Partners, L.L.C. 
 345 Park Avenue, 31st Floor 

New York, New York 10154 

Attention: Angelo G. Acconcia 

Fax: (212) 201-2874 

with a copy (not constituting notice) to : 

Kirkland & Ellis LLP 

609 Main Street 
 Houston, Texas
77002 
 Attention: Matthew R. Pacey and William J. Benitez 

Fax: (713) 835-3601 

Any such notice, request, demand or other communication shall be deemed to have been duly given (a) on the date of delivery if delivered
personally or by facsimile or electronic transmission, (b) on the first Business Day after being sent if delivered by nationally recognized overnight delivery service and (c) upon the earlier of actual receipt thereof or five Business Days
after the date of deposit in the United States mail if delivered by mail. 
 7.2 Section Headings. The article and
section headings in this Agreement are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. References in this Agreement to a designated “Article” or “Section” refer to an Article or
Section of this Agreement unless otherwise specifically indicated. 
 7.3 Governing Law. This Agreement shall be
governed by, and construed and enforced in accordance with, the laws of the State of Delaware. 
 7.4 Consent to Jurisdiction
and Service of Process; Waiver of Jury Trial. 
 (a) The parties to this Agreement hereby agree to submit to the jurisdiction of the
courts of the State of Delaware, the courts of the United States of America for the District of Delaware, and appellate courts from any thereof in any action or proceeding arising out of or relating to this Agreement. 

  
 18 

 (b) EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY
IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 7.5
Amendments. 
 (a) This Agreement may be amended only by an instrument in writing executed by the Company and
Securityholders holding at least a majority of the Registrable Securities collectively held by them; provided that any amendment that would adversely impact the rights hereunder of Blackstone shall require the prior written consent of
Blackstone; provided, further, that any amendment that would disproportionately and adversely impact (i) the rights hereunder of the Securityholders party hereto other than Blackstone without similarly affecting the rights
hereunder of Blackstone (other than the granting of demand rights to any new party to become a Securityholder hereunder and rights incidental thereto) shall require the prior approval of a such Securityholders other than Blackstone holding a
majority of the Registrable Securities held by such Securities, (ii) the rights hereunder of any Securityholder other than Blackstone without similarly affecting the rights hereunder of all other Securityholders other than Blackstone shall
require the prior written consent of such Securityholder. This Agreement will terminate as to any Securityholder when it no longer holds any Registrable Securities. 

(b) Notwithstanding anything in Section 7.5(a) hereof to the contrary, if the Company at any time after the date of
this Agreement grants to any other holders of its securities (other than any new Blackstone Holders becoming party hereto after the date hereof) any rights to request or cause the Company to effect the registration under the Securities Act or
offering or sale of any such securities on any terms materially more favorable to such holders than the terms set forth in this Agreement, the terms of this Agreement shall, upon the request of Blackstone, be deemed amended or supplemented to the
extent necessary to provide Blackstone such more favorable rights and benefits, and, at the election and sole discretion of Blackstone (as evidenced by a written notice to the Company), shall be deemed amended or supplemented to the extent necessary
to provide to the Securityholders party hereto other than Blackstone those more favorable rights and benefits as selected by Blackstone to be provided to such other Securityholders and set forth in such written notice. 

7.6 Entire Agreement. This Agreement contains the entire understanding of the parties with respect to the subject matter
hereof. The registration rights granted under this Agreement supersede any registration, qualification or similar rights with respect to any of the Registrable Securities granted under any other agreement, and any of such preexisting registration
rights are hereby terminated. 
 7.7 Severability. The invalidity or unenforceability of any specific provision of this
Agreement shall not invalidate or render unenforceable any of its other provisions. Any provision of this Agreement held invalid or unenforceable shall be deemed reformed, if practicable, to the extent necessary to render it valid and enforceable
and to the extent permitted by law and consistent with the intent of the parties to this Agreement. 

  
 19 

 7.8 Counterparts. This Agreement may be executed in multiple
counterparts, including by means of facsimile, each of which shall be deemed an original, but all of which together shall constitute the same instrument. 

7.9 Additional Holders. Notwithstanding anything herein to the contrary, the Company may from time to time add additional
holders of Registrable Securities of the Company as parties to this Agreement with the consent of Blackstone and without the consent or additional signatures of any other holders of Registrable Securities hereunder. In order to become a party to
this Agreement, such additional party must execute a signature page evidencing such party’s agreement to be bound hereby as a Securityholder (but not Blackstone, unless Blackstone consents in writing thereto), and upon the Company’s
receipt of any such additional holder’s executed signature page hereto, such additional holder shall be deemed to be a party hereto and such additional signature pages shall be a part of this Agreement. 

7.10 Equitable Remedies. The parties hereto agree that irreparable harm would occur in the event that any of the
agreements and provisions of this Agreement were not performed fully by the parties hereto in accordance with their specific terms or conditions or were otherwise breached, and that money damages are an inadequate remedy for breach of this Agreement
because of the difficulty of ascertaining and quantifying the amount of damage that will be suffered by the parties hereto in the event that this Agreement is not performed in accordance with its terms or conditions or is otherwise breached. It is
accordingly hereby agreed that the parties hereto shall be entitled to an injunction or injunctions to restrain, enjoin and prevent breaches of this Agreement by the other parties and to enforce specifically the terms and provisions hereof in any
court of the United States or any state having jurisdiction, such remedy being in addition to and not in lieu of, any other rights and remedies to which the other parties are entitled to at law or in equity. 

[Remainder of page intentionally left blank] 
  

  
 20 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first written above. 

 

			
	COMPANY:
	
	VINE ENERGY INC.
		
	By:	 	 /s/ Eric D. Marsh

	Name: Eric D. Marsh
	Title: President and Chief Executive Officer
	
	VINE INVESTMENT LLC
		
	By:	 	 /s/ Eric D. Marsh

	Name: Eric D. Marsh
	Title: President and Chief Executive Officer
	
	BRIX INVESTMENT LLC
		
	By:	 	 /s/ Eric D. Marsh

	Name: Eric D. Marsh
	Title: President and Chief Executive Officer
	
	HARVEST INVESTMENT LLC
		
	By:	 	 /s/ Eric D. Marsh

	Name: Eric D. Marsh
	Title: President and Chief Executive Officer

 Signature Page to Vine Energy Inc. Registration Rights Agreement 

 
			
	VINE INVESTMENT II LLC
		
	By:	 	 /s/ Eric D. Marsh

	Name: Eric D. Marsh
	Title: President and Chief Executive Officer
	
	BRIX INVESTMENT II LLC
		
	By:	 	 /s/ Eric D. Marsh

	Name: Eric D. Marsh
	Title: President and Chief Executive Officer
	
	HARVEST INVESTMENT II LLC
		
	By:	 	 /s/ Eric D. Marsh

	Name: Eric D. Marsh
	Title: President and Chief Executive Officer

 Signature Page to Vine Energy Inc. Registration Rights Agreement 

 Exhibit A 

FORM OF ASSIGNMENT AND JOINDER 

[        ], 2021 

Reference is made to the Registration Rights Agreement, dated as of [        ] 2021, by and among Vine
Energy Inc., a Delaware corporation (the “Company”), Vine Investment LLC, a Delaware limited liability company, Brix Investment LLC, a Delaware limited liability company, Harvest Investment LLC, a Delaware limited liability company,
and Vine Investment II LLC, a Delaware limited liability company, Brix Investment II LLC, a Delaware limited liability company, and Harvest Investment II LLC, a Delaware limited liability company and certain holders which hold Registrable Securities
(as defined below) that become party thereto (the “Registration Rights Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Registration Rights Agreement. 

Pursuant to Section 6.1 of the Registration Rights Agreement,
[            ] (the “Assignor”) hereby assigns [in part][or: in full] its rights and obligations under the Registration Rights Agreement to each of
[            ], [            ] and [            ] (each, an
“Assignee” and collectively, the “Assignees”). [For the avoidance of doubt, the Assignor will remain a party to the Registration Rights Agreement following the assignment in part of its rights and obligations
thereunder to the undersigned Assignees.] 
 Each undersigned Assignee hereby agrees to and does become party to the Registration Rights
Agreement. This assignment and joinder shall serve as a counterpart signature page to the Registration Rights Agreement and by executing below each undersigned Assignee is deemed to have executed the Registration Rights Agreement with the same force
and effect as if originally named a party thereto and each Assignee’s shares of Class A Common Stock shall be included as Registrable Securities under the Registration Rights Agreement. 

[Remainder of page intentionally left blank] 

 IN WITNESS WHEREOF, the undersigned have duly executed this assignment and joinder as of
date first set forth above. 
  

			
	ASSIGNOR:
	
	[____________]
		
	By:	 	              

	Name:	 	
	Title:	 	
	
	ASSIGNEE(S):
	
	[____________]
		
	By:	 	              

	Name:	 	
	Title:	 	

 Signature Page to Vine Energy Inc. Registration Rights Agreement

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