Document:

exv10w2

Exhibit 10.2

SEVERANCE AGREEMENT

AND RELEASE OF ALL CLAIMS

     This Severance Agreement and Release of All Claims (the “Agreement”) is made and entered into
by and between Joseph A. Avila (hereinafter referred to as the “Employee”) and Quanta Services,
Inc., a Delaware corporation, including its associated companies and subsidiaries, officers,
directors, supervisors, managers, employees, stockholders, agents, attorneys, representatives and
assigns (hereafter collectively referred to as the “Company”).

     The purpose of this Agreement is to arrange a settlement of the Employee’s employment with the
Company that is satisfactory both to the Company and to the Employee. By signing this Agreement,
the Company and the Employee agree as follows:

	1.	 	Termination of Employment. The Employee and the Company are entering into this
Agreement as a way of amicably concluding the employment relationship on March 6, 2008,
between them and of resolving voluntarily any dispute or potential dispute or claim that the
Employee has or might have with the Company, whether known or unknown by the Employee at this
time. This Agreement is not and should not be construed as an allegation or admission on the
part of the Company that it has acted unlawfully or violated any state or federal law or
regulation. The Company, including its officers, directors, managers, supervisors, employees,
stockholders, agents, attorneys, representatives and assigns, specifically disclaims any
liability to the Employee or any other person for any alleged violation of rights or for any
alleged violation of any order, law, statute, duty, policy or contract.

	2.	 	Severance Benefits. As consideration for the Employee agreeing to release the
Company from all claims that are described in Paragraph 7 herein and subject to the provisions
of Paragraph 10 herein, the Company will provide the Employee the following severance benefits
(the “Severance Benefits”):

	 	a.	 	Severance Payment. The Company will pay the Employee $77,872.50,
less applicable taxes. This amount represents a lump sum payment totaling three
months’ salary for the Employee.
	 
	 	b.	 	Cash Bonus. The Company will pay the Employee $320,835, less
applicable taxes. This amount represents the cash bonus earned by the Employee
pursuant to the terms of the Company’s 2007 Annual Incentive Plan.

 

 

	 	c.	 	Accelerated Vesting of Restricted Stock. The Company shall fully
vest (i) 3,825 shares of unvested common stock held by Mr. Avila pursuant to that
certain restricted stock award agreement dated as of October 10, 2006 by and between
the Company and Mr. Avila and (ii) 1,311 shares of unvested common stock held by Mr.
Avila pursuant to that certain restricted stock award agreement dated as of March 22,
2007 by and between the Company and Mr. Avila, in each case such vesting to be subject
to the satisfaction of any and all applicable tax withholding requirements of the
Company.

	3.	 	Tax Consequences. The Employee acknowledges and agrees that the Company has made no
representations to him regarding the tax consequences of any Severance Benefit received by him
pursuant to this Agreement.

	4.	 	Entire Consideration. The Employee agrees that the Severance Benefits constitute the
entire amount of consideration provided to him under this Agreement. The Employee further
agrees that he will not seek any further compensation for any other claimed damage, costs,
severance, income or attorney’s fees.

	5.	 	Non-Disclosure Agreement. Without the express written agreement of the Company’s
Chief Executive Officer or unless required to do so by law, the Employee agrees never to
disclose the existence, facts, terms, or amount of this Agreement, nor the substance of the
negotiations leading to this Agreement, to any person or entity, other than to his personal
counsel or attorney, personal accountants, or personal tax preparer, any such disclosure to
such persons to be made only if the relevant person must have such information for the
performance of his or her responsibilities. To the extent required by law or applicable
regulation, Employee may also disclose the provisions of this Agreement to the appropriate
taxing authorities.

	6.	 	Covenants Concerning Claims. The Employee agrees that he will not file any
complaints, claims or actions against the Company with any court or agency regarding any
matters or claims that arose prior to the Employee’s execution of this Agreement, and that if
any court or agency assumes jurisdiction on behalf of the Employee of any complaint, claim or
action against the Company, he will direct that court or agency to withdraw from or dismiss
with prejudice the matter.
	 
	 	 	Nothing, however, in this Agreement will be construed to prevent the Employee from filing a
charge or complaint of age discrimination with the Equal Employment Opportunity Commission
under the Age Discrimination in Employment Act of 1967, as amended (29 U.S.C. § 621 et
seq.), or from challenging the validity of this Agreement under the Age Discrimination in
Employment Act of 1967, as amended, or the Older Worker’s Benefit Protection Act, as
amended. The Employee further understands and agrees that if he or someone acting on his
behalf files, or causes to be filed, any such claim, charge,

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	 	 	complaint, or action against the Company, he expressly waives any right to recover any
damages or other relief, whatsoever, from the Company including costs and attorneys’ fees.

	7.	 	The Employee’s Release Of All Claims Including Age Discrimination In Employment Act
Claims. In consideration of the Severance Benefits, the Employee, for himself, his heirs,
executors, administrators, successors and assigns, does fully and forever release and
discharge the Company, its associated companies and subsidiaries, their respective associated
companies and subsidiaries, all of their respective present and former officers, directors,
supervisors, managers, employees, stockholders, agents, attorneys and representatives, and the
successors and assigns of such persons and entities (collectively, the “Released Parties”),
from all actions, lawsuits, grievances, complaints, liens, demands, obligations, damages,
liabilities and claims of any nature whatsoever, know or unknown, that the Employee had, now
has, or may hereafter claim to have against the Released Parties from the beginning of time
through the date the Employee executes this Agreement. The release provided herein
specifically includes, but is not limited to, all claims arising under any federal, state or
local fair employment practice laws, workers’ compensation laws, and any other employee
relations statute, executive order, law and ordinance, including, but not limited to, Title
VII of the Civil Rights Acts of 1964, as amended; the Civil Rights Acts of 1866, 1870, and
1871, as amended; the Civil Rights Act of 1991, as amended; the Age Discrimination in
Employment Act of 1967, as amended; the Older Workers Benefit Protection Act, as amended; the
Americans With Disabilities Act of 1990, as amended; the Family and Medical Leave Act, as
amended; the Equal Pay Act, as amended; the Fair Labor Standards Act, as amended; the Worker
Adjustment and Retraining Notification Act of 1988, as amended; the Employee Retirement
Income Security Act of 1974, as amended; Section 806 of the Sarbanes-Oxley Act of 2002 (18
U.S.C. §1514A, et seq.); the Rehabilitation Act of 1973 (29 U.S.C. Section 791 et seq.); the
Occupational Safety and Health Act (29 U.S.C. § 651, et seq.); the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended (COBRA); the National Labor Relations Act, as amended;
the Texas Commission on Human Rights Act, as amended; any local human rights law; and any tort
or contract cause of action or theory.
	 
	 	 	The Employee expressly represents and agrees that he has been advised that, by entering
into this Agreement, he is waiving all claims that he may have against the Company arising
under the Age Discrimination in Employment Act of 1967, as amended, which have arisen on or
before the date of execution of this Agreement.
	 
	 	 	Notwithstanding the foregoing, the above release does not affect any existing rights of the
Employee or any obligations of the Company with regard to indemnification of the Employee
that are not dependent upon the Employee’s continued employment or holding an office with
the Company pursuant to (i) that

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	 	 	certain Indemnity Agreement dated as of October 2, 2006 by and between the Company and the
Employee, (ii) the Company’s Restated Certificate of Incorporation or bylaws or (iii)
applicable law.

	8.	 	Employee Acknowledgments. Employee acknowledges and agrees that:

	 	a.	 	In return for and in consideration of his execution, delivery and performance
of this Agreement, the Company is providing to the Employee the Severance Benefits.
	 
	 	b.	 	The Employee is hereby advised in writing by this Agreement to consult with
an attorney before signing this Agreement.
	 
	 	c.	 	The Employee does not waive rights or claims that may arise after the date
this Agreement is signed.
	 
	 	d.	 	In return for signing this Agreement, the Employee will receive payment of
consideration beyond that which he was entitled to receive before entering into this
Agreement.

	9.	 	Twenty-One (21) Day Review Period. The Employee acknowledges that he was provided
this Agreement more than 21 days before the date when he was required to make an election
concerning the Severance Benefits. If the Employee signs this Agreement prior to the end of
the 21-day period, he certifies and agrees that the decision to accept such shortening of time
is knowing and voluntary and is not induced by the Company through: (i) fraud,
misrepresentation, or a threat to withdraw or alter the offer prior to the end of the 21-day
period; or (ii) an offer to provide different terms in exchange for signing the Release prior
to the expiration of the 21-day period. Should the Employee sign this Agreement before the
expiration of the 21-day period, the Company may at its option and discretion expedite the
processing of some or all of the Severance Benefits, subject to the revocation period set
forth in Paragraph 10.
	 
	10.	 	Seven (7) Day Revocation Period. The Employee understands that he may revoke this
Agreement at any time within seven (7) days after he executes it. To revoke the Agreement,
the Employee must deliver written notification of such revocation to Cindi Kuykendall, or in
Ms. Kuykendall’s absence to Ms. Kuykendall’s office, within seven (7) days after the date of
the Employee’s execution of this Agreement. The Employee further understands that if he does
not revoke the Agreement within seven (7) days following its execution (excluding the date of
execution), it will become effective, binding, and enforceable. The Employee understands that
he will not receive the Severance Benefits until this Agreement becomes effective, binding,
and enforceable, which shall not occur prior to the eighth day following the Employee’s
execution of this Agreement.

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	11.	 	Employee Representations. The Employee represents that:
	 
	 	 	a.	 	he has reviewed all aspects of this Agreement;
	 
	 	 	b.	 	he has carefully read and fully understands all of the provisions and effects
of this Agreement;
	 
	 	 	c.	 	he has had the opportunity to consult with an attorney before signing this
Agreement.
	 
	 	 	d.	 	he understands that in agreeing to the terms of this Agreement he is
releasing the Released Parties from any and all claims he may have against the
Company, including claims under the federal Age Discrimination in Employment Act of
1967, as amended, as well as any claims for age discrimination that may exist under
Texas law or any other applicable law, as more particularly described in Paragraph 7
herein; and
	 
	 	 	d.	 	he voluntarily agrees to all the terms set forth in this Agreement.
	 
	12.	 	Return of Company Property and Confidentiality Obligations. The Employee agrees that
on or before March 6, 2008, the Employee shall return or shall have returned all Company
Property and Confidential Information (as defined below). “Company Property” means all
property of the Company, including, but not limited to, Company issued/owned computers,
laptops, peripheral electronic equipment (e.g., printers, cameras, projectors, computer
docking stations, etc.), Blackberry or other personal digital assistants (PDAs), cellular
telephones, credit cards, keys, door cards, tools, equipment on loan, and any other Company
books, manuals, and journals. “Confidential Information” means all confidential, sensitive or
proprietary information belonging to the Company, including, but not be limited to, all
business records, manuals, memoranda, computer records, electronic files, lists and other
property delivered to or compiled by the Employee by or on behalf of Company, or its
representatives, vendors or customers that pertain to the business of Company, as well as all
correspondence, reports, records, charts, and other similar data pertaining to the business,
activities or future plans of Company that was collected by the Employee during his employment
with the Company. For purposes of this Paragraph 12 and Paragraph 13, “Company” shall include
all associated companies, affiliates and subsidiaries.
	 
	 	 	The Employee further acknowledges and agrees that the Employee is obligated to not, at any
time, disclose or otherwise make available to any person, company or other party
Confidential Information or trade secrets of the Company. This Agreement shall not limit
any obligations the Employee has under any applicable federal or state law.

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	13.	 	Non-disparagement. The Employee agrees not to make any disparaging or negative
statements about the Company, its services or its current or former directors, officers,
supervisors, managers, or employees. The Company’s directors and officers agree not to make
any disparaging or negative statements about the Employee. Statements made in the course of
any litigation or legal proceeding, whether disparaging or negative, are excluded from
coverage of this Paragraph.

	14.	 	Voluntary Action. The Employee represents and agrees that he is knowingly and
voluntarily entering into this Agreement, and that he has relied solely and completely upon
his own judgment or the advice of his attorney in entering into this Agreement.

	15.	 	Entire Agreement. This Agreement sets forth the entire agreement between the
Employee and the Company and fully supersedes and replaces any and all prior agreements or
understandings, written or oral, between the Company and the Employee pertaining to the
subject matter of this Agreement. The Employee and the Company represent and acknowledge that
in executing this Agreement they do not rely upon and have not relied upon any representation
or statement made by any of the parties or by any of the parties’ agents, attorneys,
employees, or representatives with regard to the subject matter, basis, or effect of this
Agreement or otherwise, other than those specifically stated in this written Agreement.

	16.	 	Partial Invalidity. Should any provision of this Agreement be declared or be
determined by any court of competent jurisdiction to be illegal, invalid or unenforceable, all
remaining provisions of this Agreement shall otherwise remain in full force and effect and be
construed as if such illegal, invalid or unenforceable provision had not been included herein.

	17.	 	Governing Law. This Agreement will be governed by, and construed and interpreted in
accordance with, the laws of the State of Texas without regard to principles of conflict of
laws.

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     IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date set forth below.

	 	 	 	 	 	 	 
	 	 	QUANTA SERVICES, INC. :	 	 
	 
	 	 	 	 	 	 
	     Dated: March 21, 2008
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ TANA L. POOL
 

Tana L. Pool
	 	 
	 

	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	EMPLOYEE:	 	 
	 
	 	 	 	 	 	 
	     Dated: March 21, 2008	 	 	 	/s/ JOSEPH A. AVILA	 	 
	 	 	 	 	 
	 	 	 	 	Joseph A. Avila	 	 

7exv10w18

Exhibit 10.18

FOURTH AMENDMENT TO TERM LOAN AGREEMENT 

     THIS FOURTH AMENDMENT TO TERM LOAN AGREEMENT (this “Amendment”) dated as of February 13, 2008,
is entered into between CONTANGO OIL & GAS COMPANY, a Delaware corporation (“Borrower”), and
CENTAURUS CAPITAL LLC, a Delaware limited liability company (“Lender”).

W I T N E S S E T H:

     WHEREAS, Borrower and the Lender entered into that certain Term Loan Agreement dated as of
January 30, 2007 (as amended, modified or restated from time to time, the “Loan Agreement”),
whereby Lender agreed to make available to Borrower a credit facility upon the terms and conditions
set forth therein; and

     WHEREAS, Borrower has requested that the Loan Agreement be amended as set forth herein; and

     WHEREAS, subject to the conditions precedent set forth herein, the parties hereto have agreed
to so amend the Loan Agreement;

     NOW, THEREFORE, for and in consideration of the mutual covenants and agreements contained
herein, the Borrower, the Guarantors (by execution of the attached Guarantors’ Consent and
Agreement), and the Lender hereby agree as follows:

     SECTION 1. Terms Defined in Loan Agreement. As used in this Amendment, except as may
otherwise be provided herein, all capitalized terms defined in the Loan Agreement shall have the
same meaning herein as therein, all of such terms and their definitions being incorporated herein
by reference. The Loan Agreement, as amended by this Amendment, is hereinafter called the
“Agreement.”

     SECTION 2. Amendments to Loan Agreement. Subject to the conditions precedent set forth
in Section 3 hereof, the Loan Agreement is hereby amended as follows:

	 	(a)	 	Section 1.1 of the Loan Agreement is hereby amended by adding the following definition of
“Fourth Amendment Date” in proper alphabetical order:
	 
	 	 	 	““Fourth Amendment Date” means February 13, 2008.”
	 
	 	(b)	 	Section 1.1 of the Loan Agreement is hereby further amended by deleting the definition of
the term “Third Amendment Date”.
	 
	 	(c)	 	Section 2.1(a) of the Loan Agreement is hereby amended by deleting such subsection in its
entirety and replacing it with the following:

     “(a) Subject to the terms and conditions set forth herein, on the Fourth
Amendment Date the Lender shall make an additional loan to the Borrower in the
principal amount requested by Borrower up to a maximum of $60,000,000. If less than
$60,000,000 is borrowed on such Fourth Amendment Date, and subject to the terms and
conditions set forth herein, Borrower shall be entitled to request that additional
amounts be advanced to it from time to time in increments of not less than
$1,000,000 provided that the total Loan outstanding shall not exceed a maximum of
$60,000,000. All advances (other than the initial advance to be made pursuant to
the first sentence of this

 

 

Section 2.1(a)) shall require (i) five (5) Business Days prior written notice
thereof (for any advance of $15,000,000 or less), or (ii) ten (10) Business Days
prior written notice thereof (for any advance in excess of $15,000,000), and shall
be made pursuant to a Request for Advance in the form of Exhibit 2.1 hereto. If
less than $60,000,000 is advanced by Lender hereunder by the date which is ten (10)
Business Days prior to the Maturity Date (the “Drawdown Termination Date”), the Loan
shall be in the maximum amount outstanding on such date and there shall be no
further advances hereunder. Amounts prepaid or repaid with respect to the Loan may
not be reborrowed. The Lender shall make any advances under the Loan by wire
transfer of immediately available funds to the account of the Borrower set forth in
Exhibit 2.1.”

	 	(d)	 	Section 2.3(b) of the Loan Agreement is hereby amended by deleting such subsection in its
entirety and replacing it with the following:

     “(b) Subject to Section 8.12, if the Loan is not funded in the full amount at
any time during the period from the Fourth Amendment Date to the Drawdown
Termination Date, the Borrower shall pay to the Lender a non-use fee in the amount
of 1.50% per annum multiplied by such non-funded amount, such fee to be paid on the
last day of each calendar quarter, commencing March 31, 2008 through and including
March 31, 2009, and on the Drawdown Termination Date. For the avoidance of doubt,
the amount of any advance under the Loan that has been prepaid or repaid shall not
be subject to such non-use fee. If the Loan is not fully funded in the amount of
$60,000,000 by the Drawdown Termination Date, the Loan shall be deemed to be fully
funded and no further non-use fee shall be payable.”

	 	(e)	 	Section 6.6(c) of the Loan Agreement is hereby amended by deleting such subsection in its
entirety and replacing it with the following:

     “(c) if no Default has occurred and is continuing, the Borrower may (i) declare
and pay dividends with respect to any of its Preferred Stock in an amount not to
exceed, in the aggregate, $1,800,000 during any fiscal year, and (ii) repurchase up
to a maximum of $10,000,000 of its Equity Interests consisting of common stock
and/or stock options in the aggregate for all such repurchases during the term
hereof.”

	 	(f)	 	Any and all references to “Change of Control” are hereby deemed amended and
modified wherever necessary to “Change in Control”.

     SECTION 3. Conditions of Effectiveness. The obligations of Lender to amend the Loan
Agreement as provided herein are subject to the fulfillment of the following conditions precedent:

     (a) Borrower shall have delivered to Lender multiple duly executed counterparts of this
Amendment;

     (b) no Material Adverse Effect shall have occurred;

     (c) no Default or Event of Default shall have occurred; and

     (d) the Lender shall have received such other documents and certificates as the Lender or its
counsel may reasonably request.

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     SECTION 4. Representations and Warranties. Borrower represents and warrants to
Lender, with full knowledge that Lender is relying on the following representations and warranties
in executing this Amendment, as follows:

     (a) It has the power and authority to execute, deliver and perform this Amendment, and all
action on the part of it requisite for the due execution, delivery and performance of this
Amendment has been duly and effectively taken.

     (b) The Agreement, the Loan Documents and each and every other document executed and delivered
in connection herewith constitute the legal, valid and binding obligation of it, to the extent it
is a party thereto, enforceable against it in accordance with their respective terms.

     (c) This Amendment does not and will not violate any provisions of any of the Organizational
Documents of it or any contract, agreement, instrument or requirement of any Governmental Authority
to which it is subject. Its execution of this Amendment will not result in the creation or
imposition of any lien upon any of its properties other than those permitted by the Loan Agreement
and this Amendment.

     (d) Execution, delivery and performance of this Amendment does not require the consent or
approval of any other Person, including, without limitation, any regulatory authority or
governmental body of the United States of America or any state thereof or any political subdivision
of the United States of America or any state thereof.

     (e) After giving effect to this Amendment, no Default or Event of Default will exist, and all
of the representations and warranties contained in the Agreement and all instruments and documents
executed pursuant thereto or contemplated thereby are true and correct in all material respects on
and as of this date other than those which have been disclosed to Lender in writing (except to the
extent such representations and warranties expressly refer to an earlier or other date, in which
case they shall be true and correct as of such earlier or other date).

     (f) Except to the extent expressly set forth herein to the contrary, nothing in this Section 4
is intended to amend any of the representations or warranties contained in the Agreement or the
Loan Documents to which Borrower is a party.

     SECTION 5. Reference to and Effect on the Agreement.

     (a) Upon the effectiveness hereof, on and after the date hereof, each reference in the Loan
Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, shall mean
and be a reference to the Loan Agreement as amended hereby.

     (b) Except as specifically amended by this Amendment, the Agreement shall remain in full force
and effect and is hereby ratified and confirmed.

     SECTION 6. Cost, Expenses and Taxes. Borrower agrees to pay all reasonable legal fees
and expenses to be incurred in connection with the preparation, reproduction, execution and
delivery of this Amendment and the other instruments and documents to be delivered in connection
with the transactions associated herewith, including reasonable attorneys’ fees and out-of-pocket
expenses of Lender, and agrees to save Lender harmless from and against any and all liabilities
with respect to or resulting from any delay in paying or omission to pay such fees.

3

 

     SECTION 7. Extent of Amendment. The terms “Term Loan Agreement” and “Loan Agreement”
as used in each of the Loan Documents shall hereafter mean the Loan Agreement as amended by this
Amendment. Except as otherwise expressly provided herein, neither the Agreement nor the other Loan
Documents are amended, modified or affected by this Amendment. Borrower hereby ratifies and
confirms that:

     (a) except as expressly amended or waived hereby, all of the terms, conditions, covenants,
representations, warranties and all other provisions of the Agreement remain in full force and
effect;

     (b) each of the other Loan Documents are and remain in full force and effect in accordance
with their respective terms; and

     (c) the Collateral (as defined in the Loan Documents), if any, is unimpaired by this
Amendment.

     SECTION 8. Grant and Affirmation of Security Interest. Borrower hereby confirms and
agrees that:

     (a) any and all liens, security interests and other security or Collateral now or hereafter
held by Lender as security for payment and performance of the obligations are hereby renewed and
carried forth to secure payment and performance of all of the obligations; and

     (b) the Loan Documents, as such may be amended in accordance herewith, are and remain legal,
valid and binding obligations of the parties thereto, enforceable in accordance with their
respective terms.

     SECTION 9. Claims. As additional consideration to the execution, delivery, and
performance of this Amendment by the parties hereto and to induce Lender to enter into this
Amendment, Borrower represents and warrants that it does not know of any defenses, counterclaims or
rights of setoff to the payment of any Obligations of Borrower to Lender.

     SECTION 10. Execution and Counterparts. This Amendment may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed to be an original and all of which taken together shall
constitute but one and the same instrument. Delivery of an executed counterpart of this Amendment
and the other Loan Documents by facsimile shall be equally as effective as delivery of a manually
executed counterpart of this Amendment and such other Loan Documents.

     SECTION 11. Governing Law. This Amendment shall be governed by and construed in
accordance with the laws of the State of New York.

     SECTION 12. Headings. Section headings in this Amendment are included herein for
convenience and reference only and shall not constitute a part of this Amendment for any other
purpose.

     SECTION 13. NO ORAL AGREEMENTS. The rights and obligations of each of the parties
to the loan documents shall be determined solely from written agreements, documents, and
instruments, and any prior oral agreements between such parties are superseded by and merged into
such writings. The agreement (as amended in writing from time to time) and the other written loan
documents executed by Borrower and Lender (together with all fee letters as they relate to the
payment of fees after the closing date) represent the final agreement between such parties, and may
not be contradicted by 

4

 

evidence of prior, contemporaneous, or subsequent oral agreements by such parties. There are
no unwritten oral agreements between such parties.

     SECTION 14. No Waiver. Borrower agrees that no Event of Default and no Default has
been waived or remedied by the execution of this Amendment by Lender, and any such Default or Event
or Default heretofore arising and currently continuing shall continue after the execution and
delivery hereof. Nothing contained in this Amendment nor any past indulgence by Lender, nor any
other action or inaction on behalf of Lender (i) shall constitute or be deemed to constitute a
waiver of any Defaults or Events of Default which may exist under the Agreement or the other Loan
Documents, or (ii) shall constitute or be deemed to constitute an election of remedies by Lender or
a waiver of any of the rights or remedies of Lender provided in the Agreement or the other Loan
Documents or otherwise afforded at law or in equity.

THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

[Signature Pages Follow]

5

 

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized.

	 	 	 	 	 
	BORROWER:	 	 
	 
	 	 	 	 
	CONTANGO OIL & GAS COMPANY,	 	 
	a Delaware corporation	 	 
	 
	 	 	 	 
	By:

	 	/s/ KENNETH R. PEAK
 

Kenneth R. Peak

Chairman of the Board, Chief Executive Officer,

President, Chief Financial Officer, and Secretary
	 	 

Signature Page to Fourth Amendment to Loan Agreement – Contango Oil & Gas Company

 

 

	 	 	 	 	 
	 	LENDER:

CENTAURUS CAPITAL LLC

 	 
	 	By:  	/s/  JOHN ARNOLD
 	 
	 	 	Name:  	John Arnold 	 
	 	 	Title:  	President 	 
	 

Signature Page to Fourth Amendment to Loan Agreement – Contango Oil & Gas Company

 

 

GUARANTORS’ CONSENT AND AGREEMENT

     As an inducement to Lender to execute, and in consideration of Lender’s execution of the
foregoing Fourth Amendment to Term Loan Agreement, the undersigned hereby consent thereto and agree
that the same shall in no way release, diminish, impair, reduce or otherwise adversely affect the
respective obligations and liabilities of each of the undersigned under each Guaranty described in
the Loan Agreement, or any agreements, documents or instruments executed by any of the undersigned
to create liens, security interests or charges to secure any of the indebtedness under the Loan
Documents, all of which obligations and liabilities are, and shall continue to be, in full force
and effect. This consent and agreement shall be binding upon the undersigned, and the respective
successors and assigns of each, and shall inure to the benefit of Lender, and the respective
successors and assigns of each.

	 	 	 	 	 	 	 
	 	 	GUARANTORS:	 	 
	 
	 	 	 	 	 	 
	 	 	COE OFFSHORE, LLC,	 	 
	 	 	a Delaware limited liability company	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Contango Oil & Gas Company,

a Delaware corporation,

its manager	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ KENNETH R. PEAK	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Kenneth R. Peak

Chairman of the Board, Chief Executive

Officer, President, Chief Financial Officer,
and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	CONTANGO OPERATORS, INC.,

a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ KENNETH R. PEAK	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Kenneth R. Peak

Chairman and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	CONTANGO STEP I, INC.,	 	 
	 	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ KENNETH R. PEAK
 

Kenneth R. Peak

Chairman, President and Secretary
	 	 

Signature Page to Fourth Amendment to Loan Agreement – Contango Oil & Gas Company

 

 

	 	 	 	 	 	 	 
	 	 	CONTANGO STEP II, INC.,

a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ KENNETH R. PEAK
 

Kenneth R. Peak

Chairman, Chief Executive Officer and President
	 	 
	 
	 	 	 	 	 	 
	 	 	CONTANGO STEP, L.P.,

a Texas limited partnership	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Contango Step I, Inc.,

a Delaware corporation,

its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ KENNETH R. PEAK	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Kenneth R. Peak

Chairman, President and Secretary	 	 
	 
	 	 	 	 	 	 
	 	 	REX OFFSHORE CORPORATION,

a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ KENNETH R. PEAK	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Kenneth R. Peak

Chairman, President and Secretary
	 	 

Guarantors’ Consent and Agreement to Fourth Amendment to Loan Agreement – Contango Oil & Gas Company

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