Document:

Amendment to the 2007 Non-Qualified Stock Option Plan

 Exhibit 10.7 
 AMENDMENT TO 
 2007 NON-QUALIFIED STOCK OPTION PLAN 

OF 

SEITEL HOLDINGS, INC. 
 The 2007 Non-Qualified Stock Option Plan of Seitel Holdings, Inc. (the “Plan”) is hereby amended, effective as of May 23, 2011, as follows: 

1. The following definitions set forth in Section 2 are hereby amended and restated in their entirety to read as
follows: 
 “Cause” shall have the meaning ascribed to such term in the
applicable Employment Agreement between the Participant and the Company or a Subsidiary, or if none or not defined therein, “Cause” shall mean the Participant’s (i) conviction of (or pleading nolo contendere to) a felony,
a crime of moral turpitude, or any crime involving the Company or its Subsidiaries; (ii) willful or intentional misconduct or willful or gross neglect in connection with the performance of the Participant’s duties to the Company or its
Subsidiaries; (iii) fraud, misappropriation or embezzlement, (iv) failure or refusal to substantially perform the Participant’s duties properly assigned to him or her (other than any such failure resulting from his or her Disability)
after demand for substantial performance is delivered by the Board specifically identifying the manner in which the Board believes the Participant has not substantially performed such duties; and (v) breach in any material respect of the
material terms and provisions of the Plan or any other agreement between the Participant and the Company or any of its Subsidiaries. Notwithstanding the foregoing, Cause shall not exist with respect to clauses (ii), (iv) or (v) until and
unless the Participant fails to cure his or her improper actions (if capable of cure) within 30 days after written notice from the Board thereof; provided however, that the Participant shall be entitled to no more than one such opportunity to cure.

 “Disability” has the meaning set forth in the applicable Employment Agreement
between the Participant and the Company or a Subsidiary, or if none or not defined therein, “Disability” shall mean that the Participant, because of an accident or physical or mental illness, is incapable of performing his or her duties or
services to the Company or any of its Subsidiaries; provided, however, that a Participant will be deemed to have become incapable of performing his or her duties or services to the Company or any of its Subsidiaries, if, and only if, he or she is
incapable of doing so for (i) a continuous period of 180 days and remains so incapable at the end of such 180 day period or (ii) periods amounting in the aggregate to 240 days within any one period of 365 days and remains so incapable at
the end of such aggregate period of 240 days. 
 “Investor” means ValueAct
Capital Master Fund, L.P., Centerbridge Capital Partners II, L.P. and Centerbridge Capital Partners SBS II, L.P., or any of their respective Permitted Transferees (as defined in the Securities Holders Agreement). 

 “Securities Holders Agreement” or
“Stockholders’ Agreement” means the Amended and Restated Securities Holders Agreement, dated as of May 23, 2011, by and among the Company, ValueAct Capital Master Fund, L.P., Centerbridge Capital Partners II, L.P.,
Centerbridge Capital Partners SBS II, L.P. and the Management Investors identified therein. 
 2. Clause
(i) of Section 9 is hereby amended and restated in its entirety to read as follows: 
 (i) The Company
will have no duty or obligation to disclose to any Participant, and no Participant will have any right to be advised of, any material information regarding the Company or its Subsidiaries at any time prior to, upon or in connection with the exercise
of any repurchase rights in the Securities Holders Agreement, with respect to any Option or Common Stock acquired upon the exercise of an Option. 
 3. The last sentence of clause (iii) of Section 10 is hereby amended and restated in its entirety to read as follows: 

(iii) In addition, and notwithstanding anything to the contrary herein, any Option (and Common Stock acquired upon
exercise thereof) will, regardless of whether subject to restrictions or conditions or whether vested under the applicable terms of the Plan or Agreement, be subject to the Repurchase Option upon any termination of the Employee’s employment or
other service with the Company or any Subsidiary in accordance with the terms of the Securities Holders Agreement. 
 Except as otherwise amended herein, the Plan shall remain in full force and effect. 

*        *        *      
  *        * 
 SEITEL HOLDINGS, INC. 

 

					
	 By:
	 	 /s/
	 	  Gregory P. Spivy

		 		 	  Gregory P. Spivy

		 		 	  Vice President, Secretary and Treasurer

  
 2Separation and Non-Disparagement Agreement

 Exhibit 10.1 
 SEPARATION AND NON-DISPARAGEMENT AGREEMENT 
 This Separation and
Non-Disparagement Agreement is entered into this 1st day of April, 2011, by and between Alan Gaines (“Gaines”) and Dune Energy, Inc. (“Company”): 
 Recitals: 
 Gaines and the Company are parties to that certain
Employment Agreement effective as of February 16, 2010, the Term of which concludes on April 16, 2011; and 
 On
April 1, 2011, Gaines submitted a notice of termination of his Employment Agreement and resignation as Chairman of the Board of Directors of the Company (the “Resignation”). 

In connection with the Resignation, Gaines and the Company agree as follows: 
 Covenants: 
 1. Company will pay Gaines his salary through
April 15, 2011, in addition to the cash equivalent of Gaines’ six weeks unused vacation, payable at the base rate of pay Gaines was earning as of the date of his resignation. 

2. Gaines acknowledges, agrees, and reaffirms that Gaines continues to be bound by the provisions of Paragraphs 21-25 (regarding
noncompetition; nondisclosure; company property; trademarks, trade names, and copyright; and injunctive relief) which remain in full force and effect following Gaines’ resignation. 

3. For and in consideration of the foregoing and other good and valuable consideration, the sufficiency of which is hereby acknowledged,
the Company, on behalf of its officers, directors and shareholders, on the one hand, and Gaines, on behalf of his spouse, heirs, personal representatives, successors and assigns, on the other, each release the other from any and all debts, suits,
claims, causes of action, controversies, demands, rights, damages, losses, expenses, attorney’s fees, compensation, liabilities, and obligations whatsoever, suspected or unsuspected, known or unknown, foreseen or unforeseen, fixed or
contingent, relating to Gaines’ employment with and service as a director for the Company, arising prior to the date of this agreement, except for the covenants contained within this agreement and the continuing contractual obligations of
Gaines referenced above. 
 It is understood and agreed that this is a full and general release covering all unknown,
undisclosed and unanticipated losses, wrongs, injuries, debts, claims or damages which may have arisen, or may arise, from any act or omission prior to the date of the complete execution of this release. 

4. Gaines and the Company agree that neither party shall make or cause to be made any statements, observations, or opinions, or
communicate any information (whether oral or written), that disparages or is likely in any way to harm the reputation of Gaines or the Company. For purposes of this provision, “Company” includes Dune Energy, Inc., the members of its Board
of Directors, and its Chief Executive Officer. 

							
		 		 	Company: DUNE ENERGY, INC.
				
		 		 	By:	 	/s/ James A. Watt
		 		 		 	Name: James A. Watt
		 		 		 	Title:   President & CEO
			
		 		 	Executive: ALAN GAINES
				
		 		 	By:	 	/s/ Alan Gaines
		 		 		 	Alan GainesForm of Medium-Term Notes

 Exhibit 4.1 
 [Face of Note] 
 Unless this certificate is presented by an authorized
representative of The Depository Trust Company, a New York corporation (“DTC”), to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede &
Co. or in such other name as requested by an authorized representative of DTC (and any payment is made to Cede & Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. 
  

					
	CUSIP NO. 94986RFD8	  		  	PRINCIPAL AMOUNT: $            
	REGISTERED NO.     	  		  	

 WELLS FARGO & COMPANY 

MEDIUM-TERM NOTE, SERIES K 
 Due Nine Months or More From Date of Issue 
 Notes due August 12,
2024 
 WELLS FARGO & COMPANY, a corporation duly organized and existing under the laws of the State of Delaware
(hereinafter called the “Company,” which term includes any successor corporation under the Indenture hereinafter referred to), for value received, hereby promises to pay to CEDE & Co., or registered assigns, the principal
sum of             DOLLARS ($            ) on August 12, 2024 (the “Stated Maturity Date”) and to pay
interest thereon from August 12, 2011 or from the most recent Interest Payment Date to which interest has been paid or duly provided for quarterly on February 12, May 12, August 12 and November 12, commencing
November 12, 2011 (each, an “Interest Payment Date”), at the rate per annum specified below until the principal hereof is paid or made available for payment. The interest so payable, and punctually paid or duly provided for, on
any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest next
preceding such Interest Payment Date. The Regular Record Date for an Interest Payment Date shall be the fifteenth calendar day, whether or not a Business Day, prior to such Interest Payment Date. If an Interest Payment Date is not a Business Day,
interest on this Security shall be payable on the next day that is a Business Day, with the same force and effect as if made on such Interest Payment Date, and without any interest or other payment with respect to the delay. “Business
Day” shall mean a day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions are authorized or required by law or regulation to close in New York, New York or Minneapolis, Minnesota.

 Except as described below for the first Interest Period, on each Interest Payment Date, interest will be paid for the period
commencing on and including the immediately preceding 

 
Interest Payment Date and ending on and including the day immediately preceding that Interest Payment Date. This period is referred to as an “Interest Period.” The first Interest
Period will commence on and include August 12, 2011 and end on and include November 11, 2011. Interest on this Security will be computed on the basis of a 360-day year of twelve 30-day months. 

The interest rate on this Security that will apply during an Interest Period will be as follows: 

 

			
	 Commencing August 12, 2011 and ending February 11, 2017
	  	3.40% per annum
	 Commencing February 12, 2017 and ending May 11, 2020
	  	4.25% per annum
	 Commencing May 12, 2020 and ending August 11, 2023
	  	5.25% per annum
	 Commencing August 12, 2023 and ending August 11, 2024
	  	7.00% per annum

 Any interest not punctually paid or duly provided for will forthwith cease to be payable to the Holder on
such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed
by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any
securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

Payment of interest on this Security will be made in immediately available funds at the office or agency of the Company maintained for
that purpose in the City of Minneapolis, Minnesota in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that, at the option of the Company,
payment of interest may be paid by check mailed to the Person entitled thereto at such Person’s last address as it appears in the Security Register or by wire transfer to such account as may have been designated by such Person. Payment of
principal of and interest on this Security at Maturity will be made against presentation of this Security at the office or agency of the Company maintained for that purpose in the City of Minneapolis, Minnesota. Notwithstanding the foregoing, for so
long as this Security is a Global Security registered in the name of the Depositary, payments of principal and interest on this Security will be made to the Depositary by wire transfer of immediately available funds. 

This Security is redeemable at the option of the Company at any time on or after February 12, 2017, in whole or in part, on any
Interest Payment Date at a Redemption Price equal to 100% of the principal amount of this Security to be redeemed, plus any accrued but unpaid interest to, but excluding, the Redemption Date. Notice of any redemption will be mailed at least 5 but
not more than 30 days before the applicable Redemption Date to the Holder hereof. Unless the Company defaults in the payment of the Redemption Price, on or after the Redemption Date, interest will cease to accrue on this Security or the portion
hereof called for redemption. 
 This Security is not subject to repayment at the option of the Holder hereof prior to
August 12, 2024. This Security is not entitled to any sinking fund. 

  
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 Reference is hereby made to the further provisions of this Security set forth on the reverse
hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the
certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual signature or its duly authorized agent under the Indenture referred to on the reverse hereof by manual signature, this Security shall
not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 [The remainder of this page
has been left intentionally blank] 

  
 3 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal. 
 DATED:
                     
  

					
	WELLS FARGO & COMPANY
		
	 By:
	 	  

 

		 	Its:	 	  

 [SEAL] 
  

					
	 Attest:
	 	  

		 	  

		 	Its:	 	  

 TRUSTEE’S CERTIFICATE OF 
 AUTHENTICATION 
 This is one of the Securities of the 

series designated therein described 
 in the
within-mentioned Indenture. 
 CITIBANK, N.A., 
 as Trustee 
  

			
	By:	 	  

		 	Authorized Signature
	
	OR

 WELLS FARGO BANK, N.A., 
 as Authenticating Agent for the Trustee 
  

			
	By:	 	  

		 	Authorized Signature

  
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 [Reverse of Note] 
 WELLS FARGO & COMPANY 
 MEDIUM-TERM NOTE, SERIES K

 Due Nine Months or More From Date of Issue 
 Notes due August 12, 2024 
 This Security is one of a duly authorized
issue of securities of the Company (herein called the “Securities”), issued and to be issued in one or more series under an indenture dated as of July 21, 1999, as amended or supplemented from time to time (herein called the
“Indenture”), between the Company and Citibank, N.A., as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), to which Indenture and all indentures supplemental
thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are
to be, authenticated and delivered. This Security is one of the series of the Securities designated as Medium-Term Notes, Series K, of the Company, which series is limited to an aggregate principal amount or face amount, as applicable, of
$25,000,000,000 or the equivalent thereof in one or more foreign or composite currencies. The amount payable on the Securities of this series may be determined by reference to the performance of one or more equity-, commodity- or currency-based
indices, exchange traded funds, securities, commodities, currencies, statistical measures of economic or financial performance, or a basket comprised of two or more of the foregoing, or any other market measure or may bear interest at a fixed rate
or a floating rate. The Securities of this series may mature at different times, be redeemable at different times or not at all, be repayable at the option of the Holder at different times or not at all and be denominated in different currencies.

 Article Sixteen of the Indenture shall not apply to this Security. 

The Securities are issuable only in registered form without coupons and will be either (a) book-entry securities represented by one
or more Global Securities recorded in the book-entry system maintained by the Depositary or (b) certificated securities issued to and registered in the names of, the beneficial owners or their nominees. 

The Company agrees, to the extent permitted by law, not to voluntarily claim the benefits of any laws concerning usurious rates of
interest against a Holder of this Security. 
 Modification and Waivers 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the
Securities at the time Outstanding of all series to be affected, acting together as a class. The Indenture also contains 

  
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provisions permitting the Holders of a majority in principal amount of the Securities of all series at the time Outstanding affected by certain provisions of the Indenture, acting together as a
class, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with those provisions of the Indenture. Certain past defaults under the Indenture and their consequences may be waived under the Indenture by the
Holders of a majority in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series. Any such consent or waiver by the Holder of this Security shall be conclusive and binding
upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security.

 Defeasance 
 Section 403 and Article Fifteen of the Indenture and the provisions of clause (ii) of Section 401(1)(B) of the Indenture, relating to defeasance at any time of (a) the entire
indebtedness on this Security and (b) certain restrictive covenants and certain Events of Default, upon compliance by the Company with certain conditions set forth therein, shall not apply to this Security. The remaining provisions of
Section 401 of the Indenture shall apply to this Security. 
 Authorized Denominations 

This Security is issuable only in registered form without coupons in denominations of $1,000 or any amount in excess thereof which is an
integral multiple of $1,000. 
 Registration of Transfer 
 Upon due presentment for registration of transfer of this Security at the office or agency of the Company in the City of Minneapolis, Minnesota, a new Security or Securities of this series, with the same
terms as this Security, in authorized denominations for an equal aggregate principal amount will be issued to the transferee in exchange herefor, as provided in the Indenture and subject to the limitations provided therein and to the limitations
described below, without charge except for any tax or other governmental charge imposed in connection therewith. 
 This
Security is exchangeable for definitive Securities in registered form only if (x) the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for this Security or if at any time the Depositary ceases to be a
clearing agency registered under the Securities Exchange Act of 1934, as amended, and a successor depositary is not appointed within 90 days after the Company receives such notice or becomes aware of such ineligibility, (y) the Company in
its sole discretion determines that this Security shall be exchangeable for definitive Securities in registered form and notifies the Trustee thereof or (z) an Event of Default with respect to the Securities represented hereby has occurred and
is continuing. If this Security is exchangeable pursuant to the preceding sentence, it shall be exchangeable for definitive Securities in registered form, bearing interest at the same rate, having the same date of issuance, Stated Maturity Date and
other terms and of authorized denominations aggregating a like amount. 
 This Security may not be transferred except as a whole
by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the 

  
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Depositary or by the Depositary or any such nominee to a successor of the Depositary or a nominee of such successor. Except as provided above, owners of beneficial interests in this Global
Security will not be entitled to receive physical delivery of Securities in definitive form and will not be considered the Holders hereof for any purpose under the Indenture. 
 Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered
as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 Obligation of the Company Absolute 
 No reference herein to the
Indenture and no provision of this Security or the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of and interest on this Security at the times, place and rate, and in the
coin or currency, herein prescribed, except as otherwise provided in this Security. 
 No Personal Recourse 

No recourse shall be had for the payment of the principal of or the interest on this Security, or for any claim based hereon, or otherwise
in respect hereof, or based on or in respect of the Indenture or any indenture supplemental thereto, against any incorporator, stockholder, officer or director, as such, past, present or future, of the Company or any successor corporation, whether
by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment or penalty or otherwise, all such liability being, by the acceptance hereof and as part of the consideration for the issuance hereof, expressly waived and
released. 
 Defined Terms 
 All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture unless otherwise defined in this Security. 

Governing Law 

This Security shall be governed by and construed in accordance with the law of the State of New York, without regard to principles of
conflicts of laws. 

  
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 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written
out in full according to applicable laws or regulations: 
  

							
	 TEN COM
	  	 	—	  	  	as tenants in common
			
	 TEN ENT
	  	 	—	  	  	as tenants by the entireties
			
	 JT TEN
	  	 	—	  	  	 as joint tenants with right

of survivorship and not
 as tenants in
common

  

							
	 UNIF GIFT MIN ACT —
	  	  
	  	Custodian	  	  

		  	(Cust)	  		  	(Minor)

 Under Uniform Gifts to Minors Act 
  

	
	  

	(State)

 Additional abbreviations may also be used though not in the above list. 

FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto 

 

	
	 Please Insert Social Security or

	 Other Identifying Number of Assignee

	
	  

  

			
	  

	
	  

	
	  

 (PLEASE PRINT OR TYPE NAME
AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE) 

  
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the within Security of WELLS FARGO & COMPANY and does hereby irrevocably constitute and appoint
                                         attorney
to transfer the said Security on the books of the Company, with full power of substitution in the premises. 
 Dated:
                     
  

	
	  

	
	  

 NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within
instrument in every particular, without alteration or enlargement or any change whatever. 

  
 9

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