Document:

EX-10.1

 Exhibit 10.1 

Execution Version 
 Reference is
made to the Intercreditor Agreement, dated as of November 20, 2015, between Wells Fargo Bank, National Association, as Priority Lien Agent (as defined therein), and U.S. Bank National Association, as Second Lien Collateral Trustee (as defined
therein) and acknowledged and agreed by Linn Energy, LLC and certain of its subsidiaries (as amended, supplemented, amended and restated or otherwise modified and in effect from time to time, the “Intercreditor Agreement”). Each
Person that is secured hereunder, by accepting the benefits of the security provided hereby, (i) consents (or is deemed to consent), to the subordination of Liens provided for in the Intercreditor Agreement, (ii) agrees (or is deemed to
agree) that it will be bound by, and will take no actions contrary to, the provisions of the Intercreditor Agreement, (iii) authorizes (or is deemed to authorize) the Second Lien Collateral Trustee (as defined in the Intercreditor Agreement) on
behalf of such Person to enter into, and perform under, the Intercreditor Agreement and (iv) acknowledges (or is deemed to acknowledge) that a copy of the Intercreditor Agreement was delivered, or made available, to such Person. 

Notwithstanding any other provision contained herein, this Agreement, the Liens created hereby and the rights, remedies, duties and obligations provided
for herein are subject in all respects to the provisions of the Intercreditor Agreement and, to the extent provided therein, the applicable Security Documents (as defined in the Intercreditor Agreement). In the event of any conflict or inconsistency
between the provisions of this Agreement and the Intercreditor Agreement, the provisions of the Intercreditor Agreement shall control. 
  

 
  

SECOND LIEN PLEDGE AGREEMENT 

DATED AS OF 
 NOVEMBER
20, 2015 
 MADE BY 

LINN ENERGY, LLC 
 AND

 EACH OF THE OTHER GRANTORS (AS DEFINED HEREIN) 

IN FAVOR OF 
 U.S. BANK
NATIONAL ASSOCIATION, 
 AS COLLATERAL TRUSTEE 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE I	  
	DEFINITIONS	  
			
	 Section 1.01
	 	 Definitions
	  	 	1	  
	 Section 1.02
	 	 Other Definitional Provisions
	  	 	4	  
	 Section 1.03
	 	 Rules of Interpretation
	  	 	4	  
	
	ARTICLE II	  
	GRANT OF SECURITY INTEREST	  
			
	 Section 2.01
	 	 Grant of Security Interest
	  	 	4	  
	 Section 2.02
	 	 Transfer of Pledged Securities
	  	 	4	  
	
	ARTICLE III	  
	REPRESENTATIONS AND WARRANTIES	  
			
	 Section 3.01
	 	 [Reserved]
	  	 	5	  
	 Section 3.02
	 	 Title; No Other Liens
	  	 	5	  
	 Section 3.03
	 	 Perfected Second Priority Liens
	  	 	5	  
	 Section 3.04
	 	 Grantor Information
	  	 	5	  
	 Section 3.05
	 	 Pledged Securities
	  	 	5	  
	 Section 3.06
	 	 Benefit to the Grantor
	  	 	6	  
	
	ARTICLE IV	  
	COVENANTS	  
			
	 Section 4.01
	 	 Maintenance of Perfected Security Interest; Further Documentation
	  	 	6	  
	 Section 4.02
	 	 Pledged Securities
	  	 	7	  
	
	ARTICLE V	  
	REMEDIAL PROVISIONS	  
			
	 Section 5.01
	 	 Code and Other Remedies
	  	 	8	  
	 Section 5.02
	 	 Pledged Securities
	  	 	9	  
	 Section 5.03
	 	 Private Sales of Pledged Securities
	  	 	11	  
	 Section 5.04
	 	 Waiver; Deficiency
	  	 	11	  
	 Section 5.05
	 	 Non-Judicial Enforcement
	  	 	11	  
	
	ARTICLE VI	  
	THE COLLATERAL TRUSTEE	  
			
	 Section 6.01
	 	 Collateral Trustee’s Appointment as Attorney-in-Fact, Etc
	  	 	12	  
	 Section 6.02
	 	 Duty of Collateral Trustee
	  	 	13	  
	 Section 6.03
	 	 Execution of Financing Statements
	  	 	13	  
	 Section 6.04
	 	 Authority of Collateral Trustee
	  	 	14	  
	
	ARTICLE VII	  
	SUBORDINATION OF PARITY LIEN OBLIGATIONS	  
			
	 Section 7.01
	 	 Subordination of All Grantor Claims
	  	 	14	  
	 Section 7.02
	 	 Claims in Bankruptcy
	  	 	14	  
	 Section 7.03
	 	 Payments Held in Trust
	  	 	14	  
	 Section 7.04
	 	 Liens Subordinate
	  	 	15	  
	 Section 7.05
	 	 Notation of Records
	  	 	15	  

  
 i 

							
	ARTICLE VIII	  
	MISCELLANEOUS	  
			
	 Section 8.01
	 	 Waiver
	  	 	15	  
	 Section 8.02
	 	 Notices
	  	 	15	  
	 Section 8.03
	 	 Amendments in Writing
	  	 	15	  
	 Section 8.04
	 	 Successors and Assigns
	  	 	15	  
	 Section 8.05
	 	 Survival; Revival; Reinstatement
	  	 	15	  
	 Section 8.06
	 	 Counterparts; Integration; Effectiveness
	  	 	16	  
	 Section 8.07
	 	 Severability
	  	 	16	  
	 Section 8.08
	 	 Set-Off
	  	 	17	  
	 Section 8.09
	 	 Governing Law; Consent to Jurisdiction; Waiver of Jury Trial
	  	 	17	  
	 Section 8.10
	 	 Headings
	  	 	18	  
	 Section 8.11
	 	 Acknowledgments
	  	 	18	  
	 Section 8.12
	 	 Additional Grantors
	  	 	19	  
	 Section 8.13
	 	 Releases
	  	 	19	  
	 Section 8.14
	 	 Intercreditor Agreement
	  	 	19	  
		
	Schedules and Annexes:	  			
			
	Schedule 1	 	Notice Addresses of Grantors	  			
	Schedule 2	 	Description of Pledged Securities	  			
	Schedule 3	 	Filings and Other Actions Required to Perfect Security Interests	  			
	Schedule 4	 	Location of Jurisdiction of Organization and Chief Executive Office	  			
			
	Annex I	 	Form of Assumption Agreement	  			
	Annex II	 	Form of Supplement	  			

  
 ii 

 This SECOND LIEN PLEDGE AGREEMENT, dated as of November 20, 2015, is made by LINN
ENERGY, LLC, a Delaware limited liability company (the “Company”), and each of the Subsidiaries of the Company that is a signatory hereto (the Company and each such signatory hereto, together with any other Subsidiary of the Company
that becomes a party hereto from time to time after the date hereof, the “Grantors”), in favor of U.S. BANK NATIONAL ASSOCIATION, as collateral trustee (in such capacity, together with its successors in such capacity, the
“Collateral Trustee”), for the ratable benefit of the Secured Parties (as hereinafter defined). 
 R E C I T A L S 

A. The Grantors are entering into (i) that certain Indenture, dated as of the date hereof (as amended, restated, supplemented, or
otherwise modified from time to time, the “Indenture”) by and among the Company, Linn Energy Finance Corp. (“FinCo”), the guarantors party thereto and U.S. Bank National Association, as trustee, on behalf of the
holders (the “Holders”) of the Notes (as defined below) pursuant to which the Company is issuing $1,000,000,000 in aggregate principal amount of its 12% Senior Secured Second Lien Notes due 2020 (the “Notes”) and
(ii) that certain Collateral Trust Agreement, dated as of the date hereof (as amended, restated, supplemented, or otherwise modified from time to time, the “Collateral Trust Agreement”) by and among the Company, the guarantors
party thereto, U.S. Bank National Association, as Trustee and as Collateral Trustee and the other Parity Lien Representatives (as defined therein) from time to time party thereto. 

B. Each Grantor (other than the Company) has jointly and severally guaranteed on a senior secured basis the payment when due of all Parity
Lien Obligations (as defined in the Collateral Trust Agreement) owed to the Holders under the Indenture in accordance with the Collateral Trust Agreement. The Grantors are entering into this Agreement in order to grant to the Collateral Trustee for
the ratable benefit of (i) the Collateral Trustee, (ii) the Trustee and the Holders as the initial Parity Lien Secured Parties (as defined in the Collateral Trust Agreement) and (iii) all other Parity Lien Secured Parties from time to
time pursuant to the Collateral Trust Agreement ((i), (ii) and (iii), collectively, the “Secured Parties”) a security interest in the Collateral (as hereinafter defined) to secure the payment and performance in full when due of
the Parity Lien Obligations. 
 C. Each Grantor will derive substantial direct and indirect benefit from the execution, delivery and
performance of their Notes Obligations under the Indenture, the Notes and the other Note Documents (as defined in the Indenture) and their other Parity Lien Obligations under the other Parity Lien Documents from time to time, and each is, therefore,
willing to execute and deliver this Agreement. 
 D. NOW, THEREFORE, in consideration of the premises and in order to induce the Holders to
purchase the Notes and in order to induce the other Parity Lien Secured Parties to make extensions of credit pursuant to the other Parity Lien Documents from time to time, each Grantor agrees with the Collateral Trustee for the ratable benefit of
the Secured Parties as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.01 Definitions. 

(a) Unless otherwise defined herein, terms defined in the Collateral Trust Agreement or the Indenture and used herein have the meanings given
to them in the Collateral Trust Agreement or the Indenture, as applicable, and all uncapitalized terms which are defined in the UCC on the date hereof are used herein as so defined. 

 (b) The following terms have the following meanings: 

“Agreement” means this Second Lien Pledge Agreement, as the same may be amended, restated, supplemented or otherwise modified
from time to time. 
 “Assumption Agreement” means an Assumption Agreement substantially in the form attached hereto as
Annex I. 
 “Bankruptcy Code” means title 11, United States Code, as amended from time to time. 

“Collateral” has the meaning assigned such term in Section 2.01. 

“Collateral Trust Agreement” has the meaning set forth in the recitals hereto. 

“Collateral Trustee” has the meaning assigned to such term in the preamble hereto. 

“Company” has the meaning assigned to such term in the preamble hereto. 

“Discharge of Priority Lien Obligations” has the meaning set forth in the Intercreditor Agreement. 

“Discharge of Second Lien Obligations” has the meaning set forth in the Intercreditor Agreement. 

“Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited liability company,
beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such Equity Interest. 

“Excluded Assets” has the meaning set forth in the Indenture. 

“FinCo” has the meaning set forth in the recitals hereto. 

“Grantor” has the meaning assigned to such term in the preamble hereto. 

“Grantor Claims” has the meaning assigned to such term in Section 7.01. 

“Holders” has the meaning set forth in the recitals hereto. 

“Indenture” has the meaning set forth in the recitals hereto. 

“Intercreditor Agreement” has the meaning set forth in the legend appearing on the first page of this Agreement. 

“LLC” means, with respect to each Grantor, each limited liability company described or referred to in Schedule 2 (as
the same may be supplemented from time to time pursuant to a Supplement or Assumption Agreement) in which such Grantor has an interest. 

“LLC Agreement” means each operating agreement relating to an LLC, as such agreement has heretofore been, and may hereafter
be, amended, restated, supplemented or otherwise modified from time to time. 
 “Notes” has the meaning assigned to such
term in the recitals hereto. 

  
 2 

 “Parity Lien Debt Default” has the meaning set forth in the Collateral Trust
Agreement. 
 “Parity Lien Documents” has the meaning set forth in the Collateral Trust Agreement. 

“Parity Lien Obligations” has the meaning set forth in the Collateral Trust Agreement. 

“Parity Lien Secured Parties” has the meaning set forth in the Collateral Trust Agreement. 

“Partnership” means, with respect to each Grantor, each partnership described or referred to in Schedule 2 (as the
same may be supplemented from time to time pursuant to a Supplement or Assumption Agreement) in which such Grantor has an interest. 

“Partnership Agreement” means each partnership agreement governing a Partnership, as such agreement has heretofore been, and
may hereafter be, amended, restated, supplemented or otherwise modified. 
 “Pledged Entity” means the issuer of a Pledged
Security. 
 “Pledged LLC Interests” means, with respect to each Grantor, all right, title and interest of such Grantor in
each LLC and all right, title and interest of any Grantor as a member of any LLC in, to and under the LLC Agreement of each such LLC. 

“Pledged Partnership Interests” means, with respect to each Grantor, all right, title and interest of such Grantor in each
Partnership and all right, title and interest of any Grantor as a limited or general partner in any Partnership in, to and under the Partnership Agreement of each such Partnership. 

“Pledged Securities” means: (a) the Equity Interests described or referred to in Schedule 2 (as the same may be
supplemented from time to time pursuant to a Supplement or Assumption Agreement); and (b) (i) the certificates or instruments, if any, representing such Equity Interests, (ii) all dividends (cash, Equity Interests or otherwise), cash,
instruments, rights to subscribe, purchase or sell and all other rights and Property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such Equity Interests, (iii) all replacements,
additions to and substitutions for any of the Property referred to in this definition, including, without limitation, claims against third parties, (iv) the proceeds, interest, profits and other income of or on any of the Property referred to
in this definition, (v) all security entitlements in respect of any of the foregoing, if any and (vi) all books and records relating to any of the Property referred to in this definition. 

“Priority Lien Agent” has the meaning set forth in the Intercreditor Agreement. 

“Priority Liens” has the meaning set forth in the Intercreditor Agreement. 

“Proceeds” means all “proceeds” as such term is defined in Section 9-102(64) of the Uniform Commercial Code in
effect in the State of New York on the date hereof and, in any event, shall include, without limitation, all dividends or other income from the Pledged Securities, collections thereon or distributions or payments with respect thereto. 

“Property” has the meaning set forth in the Indenture. 

“Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors,
officers, employees, agents and advisors (including attorneys, accountants and experts) of such Person and such Person’s Affiliates. 

  
 3 

 “Secured Parties” has the meaning set forth in the recitals hereto. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Supplement” means a Supplement substantially in the form attached hereto as Annex II. 

“UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York; provided,
however, that, in the event that, by reason of mandatory provisions of law, any of the attachment, perfection or priority of the Collateral Trustee’s and the Secured Parties’ security interest in any Collateral is governed by the
Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to
such attachment, perfection, the effect thereof or priority and for purposes of definitions related to such provisions. 
 Section 1.02
Other Definitional Provisions. Where the context requires, terms relating to the Collateral or any part thereof, when used in relation to a Grantor, refer to such Grantor’s Collateral or the relevant part thereof. 

Section 1.03 Rules of Interpretation. Section 1.2 of the Collateral Trust Agreement is hereby incorporated herein by
reference and shall apply to this Agreement, mutatis mutandis. 
 ARTICLE II 

GRANT OF SECURITY INTEREST 

Section 2.01 Grant of Security Interest. Each Grantor hereby pledges, assigns and transfers to the Collateral Trustee, and hereby
grants to the Collateral Trustee, for the ratable benefit of the Secured Parties, a security interest in all of the following Property now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the
future may acquire any right, title or interest (collectively, the “Collateral”), as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of
such Grantor’s Parity Lien Obligations: 
 (a) all Pledged Securities; and 

(b) to the extent not otherwise included, all Proceeds and products of any Pledged Securities. 

Notwithstanding anything to the contrary contained in this Agreement (including this Section 2.01) or in any other Note Documents, the term
“Collateral” shall not include any Excluded Assets. 
 Section 2.02 Transfer of Pledged Securities. Subject to the
terms of the Intercreditor Agreement, to the extent any of the Pledged Securities constitute “securities” under Article 8 of the UCC, any certificates or instruments representing or evidencing such Pledged Securities shall be delivered to
and held pursuant hereto by the Collateral Trustee or a Person designated by the Collateral Trustee and shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank, and
accompanied by any required transfer tax stamps to effect the pledge of such Pledged Securities to the Collateral Trustee. Notwithstanding the preceding sentence but subject to the terms of the Intercreditor Agreement, at the Collateral
Trustee’s reasonable discretion, to the extent such Pledged Securities constitute “securities” under Article 8 of the UCC, all such Pledged Securities must be delivered or transferred in such manner as to permit the Collateral Trustee
to be a “protected 

  
 4 

 
purchaser” to the extent of its security interest as provided in Section 8-303 of the UCC (if the Collateral Trustee otherwise qualifies as a protected purchaser). During the
continuance of a Parity Lien Debt Default but subject to the terms of the Intercreditor Agreement, the Collateral Trustee shall have the right, at any time in its discretion and without notice, to transfer to or to register in the name of the
Collateral Trustee or any of its nominees any or all of the Pledged Securities, subject only to the revocable rights specified in Section 5.02(b). In addition subject to the terms of the Intercreditor Agreement, during the continuance of
a Parity Lien Debt Default, the Collateral Trustee shall have the right at any time to exchange certificates or instruments representing or evidencing Pledged Securities for certificates or instruments of smaller or larger denominations. 

ARTICLE III 

REPRESENTATIONS AND WARRANTIES 

Each Grantor hereby represents and warrants to the Collateral Trustee and each other Secured Party on the date hereof that: 

Section 3.01 [Reserved]. 

Section 3.02 Title; No Other Liens. Except for the security interests granted to the Collateral Trustee for the ratable benefit of
the Secured Parties pursuant to this Agreement, such Grantor is the record and beneficial owner of its respective items of the Collateral free and clear of any and all Liens (other than Liens permitted by the Indenture) and has rights in or the
power to transfer each item of the Collateral in which a Lien is granted by it hereunder, free and clear of any Lien. No effective financing statement or other public notice with respect to all or any part of the Collateral is on file or of record
in any public office, except such as have been filed in favor of the Priority Lien Collateral Agent pursuant to the Priority Lien Documents and the Collateral Trustee, for the ratable benefit of the Secured Parties, pursuant to this Agreement or the
Parity Lien Documents. 
 Section 3.03 Perfected Second Priority Liens. The security interests granted pursuant to this
Agreement (a) upon the completion of the filings specified on Schedule 3 and payment of all filing fees, constitute valid perfected security interests in all of the Collateral (other than such Collateral in which a security interest
cannot be perfected under the UCC as in effect at the relevant time in the relevant jurisdiction by the filing of a financing statement) in favor of the Collateral Trustee, for the ratable benefit of the Secured Parties, as collateral security for
such Grantor’s Parity Lien Obligations, enforceable in accordance with the terms hereof against all creditors of such Grantor and any Persons purporting to purchase any Collateral from such Grantor and (b) are prior to all other Liens,
except for the Priority Liens, on the Collateral in existence on the date hereof. 
 Section 3.04 Grantor Information. On the
date hereof, the correct legal name of such Grantor, all names and trade names that such Grantor has used in the last five years, such Grantor’s jurisdiction of organization and each jurisdiction of organization of such Grantor over the last
five years, organizational number, taxpayer identification number, and the location(s) of such Grantor’s chief executive office or sole place of business over the last five years are specified on Schedule 4. 

Section 3.05 Pledged Securities. 

(a) The Pledged Securities required to be pledged hereunder and under the Indenture by such Grantor are listed in Schedule 2 (as
such schedule may be updated from time to time). The shares of Pledged Securities pledged by such Grantor hereunder constitute all the issued and outstanding shares of all classes of the Equity Interests of each Pledged Entity owned by such Grantor.
All the shares of the Pledged Securities have been duly and validly issued and are fully paid and nonassessable; and such 

  
 5 

 
Grantor is the record and beneficial owner of, and has good title to, the Pledged Securities pledged by it hereunder, free of any and all Liens or options in favor of, or claims of, any other
Person, except the security interests created by this Agreement and other Liens permitted by the Indenture, and has rights in or the power to transfer the Pledged Securities in which a Lien is granted by it hereunder. 

(b) There are no restrictions on transfer (that have not been waived or otherwise consented to) in the LLC Agreement governing any Pledged LLC
Interest and the Partnership Agreement governing any Pledged Partnership Interest or any other agreement relating thereto which would limit or restrict (i) the grant of a security interest in the Pledged LLC Interests and the Pledged
Partnership Interests, (ii) the perfection of such security interest or (iii) the exercise of remedies in respect of such perfected security interest in the Pledged LLC Interests and the Pledged Partnership Interests, in each case, as
contemplated by this Agreement. Upon the exercise of remedies in respect of the Pledged LLC Interests and the Pledged Partnership Interests, a transferee or assignee of a membership interest or partnership interest, as the case may be, of such
Pledged LLC Interests or Pledged Partnership Interests, as the case may be, shall become a member or partner, as the case may be, of such LLC or Partnership, as the case may be, entitled to participate in the management thereof and, upon the
transfer of the entire interest of such Grantor, such Grantor ceases to be a member or partner, as the case may be of such LLC or Partnership. 

Section 3.06 Benefit to the Grantor. The Company is a member of an affiliated group of companies that includes each Grantor, and the
Company and the other Grantors are engaged in related businesses. Each other such Grantor is a direct or indirect Subsidiary of the Company and its grant of a security interest in the Collateral pursuant to this Agreement reasonably may be expected
to benefit, directly or indirectly, it; and it has determined that this Agreement is necessary and convenient to the conduct, promotion and attainment of the business of such Grantor and the Company. 

ARTICLE IV 
 COVENANTS

 Each Grantor covenants and agrees with the Collateral Trustee and the other Secured Parties that, from and after the date of this
Agreement until the Discharge of Second Lien Obligations: 
 Section 4.01 Maintenance of Perfected Security Interest; Further
Documentation. Each Grantor agrees that: 
 (a) it shall maintain the security interest created by this Agreement as a perfected
security interest having at least the priority described in Section 3.03 and shall defend such security interest against the claims and demands of all Persons whomsoever other than to the extent permitted under the Indenture. 

(b) it will furnish to the Collateral Trustee from time to time statements and schedules further identifying and describing the Collateral and
such other reports in connection with the Collateral as the Collateral Trustee may reasonably request, all in reasonable detail. 
 (c)
subject to the terms of the Intercreditor Agreement, at any time and from time to time, upon the written request of the Collateral Trustee, and at the sole expense of such Grantor, it will promptly and duly execute and deliver, and have recorded,
such further instruments and documents and take such further actions as the Collateral Trustee may reasonably deem necessary for the purpose of obtaining or preserving the full benefits of this Agreement and of the rights and powers herein granted,
including, without limitation, the delivery of certificated securities and the filing of any financing or continuation statements under the UCC (or other similar laws) in effect in any jurisdiction with respect to

  
 6 

 
the security interests created hereby. Notwithstanding anything in this Agreement, and subject to the Intercreditor Agreement, the Grantors shall not be required to take any action to perfect a
security interest in any Collateral other than (i) to file financing or continuation statements under the UCC (or similar laws) in effect in any jurisdiction with respect to the security interests created hereby or (ii) deliver Collateral
to the Collateral Trustee if such Collateral is of the type that can only be perfected by possession or control. 
 Section 4.02
Pledged Securities. 
 (a) Subject to the terms of the Intercreditor Agreement, if such Grantor shall become entitled to receive or
shall receive any stock certificate (including, without limitation, any certificate representing a stock dividend or a distribution in connection with any reclassification, increase or reduction of capital or any certificate issued in connection
with any reorganization), option or rights in respect of the Equity Interests of any Pledged Entity, whether in addition to, in substitution of, as a conversion of, or in exchange for, any shares of the Pledged Securities, or otherwise in respect
thereof, such Grantor shall accept the same as the agent of the Secured Parties, hold the same in trust for the Secured Parties, segregated from other Property of such Grantor, and deliver the same forthwith to the Collateral Trustee in the exact
form received, duly indorsed by such Grantor to the Collateral Trustee, if required, together with an undated stock power covering such certificate duly executed in blank by such Grantor and with, if the Collateral Trustee so requests, signature
guaranteed, to be held by the Collateral Trustee, subject to the terms hereof, as additional collateral security for the Parity Lien Obligations. 

(b) Subject to the terms of the Intercreditor Agreement, without the prior written consent of the Collateral Trustee, such Grantor will not,
unless otherwise permitted hereby or under the Parity Lien Documents, (i) at such time as a Parity Lien Debt Default has occurred and is continuing, vote to enable, or take any other action to permit, any Pledged Entity to issue any Equity
Interests of any nature or to issue any other securities convertible into or granting the right to purchase or exchange for any Equity Interests of any nature of any Pledged Entity, (ii) sell, assign, transfer, exchange, or otherwise dispose
of, or grant any option with respect to, the Pledged Securities or Proceeds thereof (except pursuant to a transaction expressly permitted by the Parity Lien Documents), (iii) create, incur or permit to exist any Lien or option in favor of, or
any claim of any Person with respect to, any of the Pledged Securities or Proceeds thereof, or any interest therein, except for the security interests created by this Agreement or as permitted under the Indenture or (iv) enter into any
agreement or undertaking restricting the right or ability of such Grantor or the Collateral Trustee to sell, assign or transfer any of the Pledged Securities or Proceeds thereof. 

(c) In the case of each Grantor that is a Pledged Entity, such Pledged Entity agrees that (i) it will be bound by the terms of this
Agreement relating to the Pledged Securities issued by it and will comply with such terms insofar as such terms are applicable to it, (ii) it will notify the Collateral Trustee promptly in writing of the occurrence of any of the events
described in Section 4.02(a) with respect to the Pledged Securities issued by it and (iii) the terms of Section 5.02(a) and Section 5.03 shall apply to it, mutatis mutandis, with respect to all actions
that may be required of it pursuant to Section 5.02(c) or Section 5.03 with respect to the Pledged Securities issued by it. 

(d) Subject to the terms of the Intercreditor Agreement, in the case of each Grantor that is a limited or general partner in a Partnership,
such Grantor hereby consents to the extent required by the applicable Partnership Agreement to the pledge by each other Grantor, pursuant to the terms hereof, of the Pledged Partnership Interests in such Partnership and to the transfer of such
Pledged Partnership Interests to the Collateral Trustee or its nominee and to the substitution of the Collateral Trustee or its nominee as a substituted limited or general partner in such Partnership with all the rights, powers and duties of a
limited partner or a general partner, as the case may be, following the exercise of remedies 

  
 7 

 
hereunder in connection with the occurrence and continuation of a Parity Lien Debt Default. Subject to the terms of the Intercreditor Agreement, in the case of each Grantor that is a member of an
LLC, such Grantor hereby consents to the extent required by the applicable LLC Agreement to the pledge by each other Grantor, pursuant to the terms hereof, of the Pledged LLC Interests in such LLC and to the transfer of such Pledged LLC Interests to
the Collateral Trustee or its nominee and to the substitution of the Collateral Trustee or its nominee as a substituted member of the LLC with all the rights, powers and duties of a member of such LLC, following the exercise of remedies hereunder in
connection with the occurrence and continuation of a Parity Lien Debt Default. 
 (e) Such Grantor shall not agree to any amendment of a
Partnership Agreement or LLC Agreement that in any way adversely affects the perfection of the security interest of the Collateral Trustee in the Pledged Partnership Interests or Pledged LLC Interests pledged by such Grantor hereunder, including any
amendment electing to treat the membership interest or partnership interest of such Grantor as a security under Section 8-103 of the UCC without the prior written consent of the Collateral Trustee. 

(f) Subject to the terms of the Intercreditor Agreement, each Grantor shall furnish to the Collateral Trustee such stock powers and other
instruments as may be required by the Collateral Trustee to assure the transferability of the Pledged Securities when and as often as may be reasonably requested by the Collateral Trustee. 

(g) The Pledged Securities will at all times constitute not less than 100% of the Equity Interests of the Pledged Entity thereof owned by any
Grantor. During the continuance of a Parity Lien Debt Default, each Grantor will not permit any Pledged Entity to issue any new shares of any class of the Equity Interests of such Pledged Entity without the prior written consent of the Collateral
Trustee or as permitted by the Parity Lien Documents. 
 ARTICLE V 

REMEDIAL PROVISIONS 

Section 5.01 Code and Other Remedies. 

(a) Subject to the terms of the Intercreditor Agreement, upon the occurrence and during the continuance of a Parity Lien Debt Default, the
Collateral Trustee, on behalf of the Secured Parties, may exercise, in addition to all other rights and remedies granted to them in this Agreement, the Parity Lien Documents and in any other instrument or agreement securing, evidencing or relating
to the Parity Lien Obligations, all rights and remedies of a secured party under the UCC or any other applicable law or otherwise available at law or equity. Subject to the terms of the Intercreditor Agreement, without limiting the generality of the
foregoing, the Collateral Trustee, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and
each of which demands, defenses, advertisements and notices are hereby waived), may, during the continuance of a Parity Lien Debt Default, forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may
forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any
exchange, broker’s board or office of any Secured Party or elsewhere upon such terms and conditions as it may deem advisable and at such commercially reasonable prices as it may deem best, for cash or on credit or for future delivery without
assumption of any credit risk. Subject to the terms of the Intercreditor Agreement, any Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the
whole or any part of the Collateral so sold, free of any right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Subject to the terms of the Intercreditor Agreement, if applicable to

  
 8 

 
any particular item of Collateral, each Grantor further agrees, at the Collateral Trustee’s request, to assemble the Collateral and make it available to the Collateral Trustee at places
which the Collateral Trustee shall reasonably select, whether at such Grantor’s premises or elsewhere. Any such sale or transfer by the Collateral Trustee either to itself or to any other Person shall be absolutely free from any claim of right
by Grantor, including any equity or right of redemption, stay or appraisal which Grantor has or may have under any rule of law, regulation or statute now existing or hereafter adopted (and such Grantor hereby waives any rights it may have in respect
thereof). Subject to the terms of the Intercreditor Agreement, upon any such sale or transfer, the Collateral Trustee shall have the right to deliver, assign and transfer to the purchaser or transferee thereof the Collateral so sold or transferred.
Subject to the terms of the Intercreditor Agreement, the Collateral Trustee shall apply the net proceeds of any action taken by it pursuant to this Section 5.01, after deducting all reasonable costs and expenses of every kind incurred in
connection therewith or incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of the Collateral Trustee and the Secured Parties hereunder, including, without limitation, reasonable
attorneys’ fees and disbursements, to the payment in whole or in part of the Parity Lien Obligations, in accordance with Section 3.4 of the Collateral Trust Agreement, and only after such application and after the payment by the
Collateral Trustee of any other amount required by any provision of law, including, without limitation, Section 9-615 of the UCC, need the Collateral Trustee account for the surplus, if any, to any Grantor. To the extent permitted by applicable
law, each Grantor waives all claims, damages and demands it may acquire against the Collateral Trustee or any other Secured Party arising out of the exercise by them of any rights hereunder except to the extent caused by the gross negligence or
willful misconduct of the Collateral Trustee or such Secured Party or their respective agents. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and proper if given
at least 10 days before such sale or other disposition. 
 (b) Subject to the terms of the Intercreditor Agreement, in the event that the
Collateral Trustee elects not to sell the Collateral in connection with the exercise of remedies pursuant to Section 5.01(a), the Collateral Trustee retains its rights to dispose of or utilize the Collateral or any part or parts thereof
in any manner authorized or permitted by law or in equity, and to apply the proceeds of the same towards payment of the Parity Lien Obligations. Each and every method of disposition of the Collateral described in this Agreement shall constitute
disposition in a commercially reasonable manner. 
 (c) Subject to the terms of the Intercreditor Agreement, the Collateral Trustee may
appoint any Person as agent to perform any act or acts necessary or incident to any sale or transfer of the Collateral. 
 Section 5.02
Pledged Securities. 
 (a) Unless a Parity Lien Debt Default shall have occurred and be continuing and the Collateral Trustee shall
have given notice to the relevant Grantor of the Collateral Trustee’s intent to exercise its corresponding rights pursuant to Section 5.02(b), each Grantor shall be permitted to receive all cash dividends paid in respect of the
Pledged Securities paid in the normal course of business of the relevant Pledged Entity (other than liquidating or distributing dividends) and to exercise all voting, consent and corporate, partnership or limited liability rights with respect to the
Pledged Securities; provided, however, that no vote shall be cast, consent given or right exercised or other action taken by such Grantor that would result in any violation of any provision of the Collateral Trust Agreement, this
Agreement or any Parity Lien Document or, during a Parity Lien Debt Default, subject to the terms of the Intercreditor Agreement, without the prior consent of the Collateral Trustee, enable or permit any Pledged Entity to issue any Equity Interest
or to issue any other securities convertible into or granting the right to purchase or exchange for any Equity Interest of any Pledged Entity other than as permitted by the Collateral Trust Agreement. Subject to the terms of the Intercreditor
Agreement, during the continuance 

  
 9 

 
of a Parity Lien Debt Default, any sums paid upon or in respect of any Pledged Securities upon the liquidation or dissolution of any Pledged Entity, any distribution of capital made on or in
respect of any Pledged Securities or any Property distributed upon or with respect to any Pledged Securities pursuant to the recapitalization or reclassification of the capital of any Pledged Entity or pursuant to the reorganization of any Pledged
Entity shall, unless otherwise subject to a perfected security interest in favor of the Collateral Trustee, be delivered to the Collateral Trustee to be held by it hereunder as additional collateral security for the Parity Lien Obligations. Subject
to the terms of the Intercreditor Agreement, if any sum of money or Property so paid or distributed in respect of any Pledged Securities shall be received by such Grantor, such Grantor shall, until such money or Property is paid or delivered to the
Collateral Trustee, hold such money or Property in trust for the Collateral Trustee, segregated from other funds of such Grantor, as additional security for the Parity Lien Obligations. 

(b) Subject to the terms of the Intercreditor Agreement, upon the occurrence and during the continuance of a Parity Lien Debt Default, upon
notice by the Collateral Trustee of its intent to exercise such rights to the relevant Grantor, (i) the Collateral Trustee shall have the right to receive any and all cash dividends, payments, Property or other Proceeds paid in respect of the
Pledged Securities and make application thereof to the Parity Lien Obligations in accordance with Section 3.4 of the Collateral Trust Agreement, and (ii) any or all of the Pledged Securities shall be registered in the name of the
Collateral Trustee or its nominee, and (iii) the Collateral Trustee or its nominee may exercise (A) all voting, consent, corporate, partnership or limited liability and other rights pertaining to such Pledged Securities at any meeting of
shareholders, partners or members (or other equivalent body), as the case may be, of the relevant Pledged Entity or Entities or otherwise and (B) any and all rights of conversion, exchange and subscription and any other rights, privileges or
options pertaining to such Pledged Securities as if it were the absolute owner thereof (including, without limitation, the right to exchange at its discretion any and all of the Pledged Securities upon the merger, consolidation, reorganization,
recapitalization or other fundamental change in the organizational structure of any Pledged Entity, or upon the exercise by any Grantor or the Collateral Trustee of any right, privilege or option pertaining to such Pledged Securities, and in
connection therewith, the right to deposit and deliver any and all of the Pledged Securities with any committee, depositary, transfer agent, registrar or other designated agency upon such terms and conditions as the Collateral Trustee may
determine), all without liability except to account for Property actually received by it, but the Collateral Trustee shall have no duty to any Grantor to exercise any such right, privilege or option and shall not be responsible for any failure to do
so or delay in so doing. 
 (c) Subject to the terms of the Intercreditor Agreement, upon the occurrence and during the continuance of a
Parity Lien Debt Default, in order to permit the Collateral Trustee to exercise the voting and other consensual rights that it may be entitled to exercise pursuant hereto and to receive all dividends and other distributions that it may be entitled
to receive hereunder, (i) each Grantor shall promptly execute and deliver (or cause to be executed and delivered) to the Collateral Trustee all such proxies, dividend payment orders and other instruments as the Collateral Trustee may from time
to time reasonably request and (ii) without limiting the effect of clause (i) above, such Grantor hereby grants to the Collateral Trustee an irrevocable proxy to vote all or any part of the Pledged Securities and to exercise all
other rights, powers, privileges and remedies to which a holder of the Pledged Securities would be entitled (including giving or withholding written consents of shareholders, partners or members, as the case may be, calling special meetings of
shareholders, partners or members, as the case may be, and voting at such meetings), which proxy shall be effective, automatically and without the necessity of any action (including any transfer of any Pledged Securities on the record books of the
Pledged Entity thereof) by any other Person (including such Pledged Entity or any officer or agent thereof). 
 (d) Each Grantor hereby
authorizes and instructs each Pledged Entity to (i) comply with any instruction received by such Pledged Entity from the Collateral Trustee in writing that (A) states 

  
 10 

 
that a Parity Lien Debt Default has occurred and is continuing and (B) is otherwise in accordance with the terms of this Agreement, without any other or further instructions from such
Grantor, and each Grantor agrees that each Pledged Entity shall be fully protected in so complying, and (ii) unless otherwise expressly permitted hereby or as permitted in the Collateral Trust Agreement, pay any dividends or other payments with
respect to the Pledged Securities directly to the Collateral Trustee. 
 (e) Upon the occurrence and during the continuance of a Parity Lien
Debt Default, if the Pledged Entity is the subject of bankruptcy, insolvency, receivership, custodianship or other proceedings under the supervision of any governmental authority, then all rights of the Grantor in respect thereof to exercise the
voting and other consensual rights which such Grantor would otherwise be entitled to exercise with respect to the Pledged Securities issued by such Pledged Entity shall cease, and all such rights shall thereupon become vested in the Collateral
Trustee who, subject to the terms of the Intercreditor Agreement, shall thereupon have the sole right to exercise such voting and other consensual rights, but the Collateral Trustee shall have no duty to exercise any such voting or other consensual
rights and shall not be responsible for any failure to do so or delay in so doing. 
 Section 5.03 Private Sales of Pledged
Securities. 
 (a) Each Grantor recognizes that the Collateral Trustee may be unable to effect a public sale of any or all the Pledged
Securities, by reason of certain prohibitions contained in the Securities Act and applicable state securities laws or otherwise or may determine that a public sale is impracticable or not commercially reasonable and, accordingly, may resort to one
or more private sales thereof to a restricted group of purchasers which will be obliged to agree, among other things, to acquire such Equity Interests for their own account for investment and not with a view to the distribution or resale thereof.
Each Grantor acknowledges and agrees that any such private sale may result in prices and other terms less favorable than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to
have been made in a commercially reasonable manner. The Collateral Trustee shall be under no obligation to delay a sale of any of the Pledged Securities for the period of time necessary to permit the Pledged Entity thereof to register such Equity
Interests for public sale under the Securities Act, or under applicable state securities laws, even if such Pledged Entity would agree to do so. 

(b) Each Grantor agrees to use commercially reasonable efforts to do or cause to be done all such other acts as may reasonably be necessary to
make such sale or sales of all or any portion of the Pledged Securities pursuant to this Section 5.03 valid and binding and in compliance with any and all other applicable governmental requirements. Each Grantor further agrees that a
breach of any of the covenants contained in this Section 5.03 will cause irreparable injury to the Secured Parties, that the Secured Parties have no adequate remedy at law in respect of such breach and, as a consequence, that each and
every covenant contained in this Section 5.03 shall be specifically enforceable against such Grantor, and such Grantor hereby waives and agrees not to assert any defenses against an action for specific performance of such covenants
except for a defense that no Parity Lien Debt Default has occurred or is continuing. 
 Section 5.04 Waiver; Deficiency. Each
Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay its Parity Lien Obligations and the fees and disbursements of any attorneys employed by the Collateral Trustee
or any Secured Party to collect such deficiency. 
 Section 5.05 Non-Judicial Enforcement. The Collateral Trustee may enforce
its rights hereunder without prior judicial process or judicial hearing, and to the extent permitted by law, each Grantor expressly waives any and all legal rights which might otherwise require the Collateral Trustee to enforce its rights by
judicial process. 

  
 11 

 ARTICLE VI 

THE COLLATERAL TRUSTEE 

Section 6.01 Collateral Trustee’s Appointment as Attorney-in-Fact, Etc. 

(a) Each Grantor hereby irrevocably constitutes and appoints the Collateral Trustee and any officer or agent thereof, with full power of
substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such Grantor and in the name of such Grantor or in its own name, for the purpose of carrying out the terms of this Agreement,
to take any and all reasonably appropriate action and to execute any and all documents and instruments which may be reasonably necessary or desirable to accomplish the purposes of this Agreement, and, without limiting the generality of the
foregoing, each Grantor hereby gives the Collateral Trustee the power and right, on behalf of such Grantor, without notice to or assent by such Grantor, to do any or all of the following subject to the terms of the Intercreditor Agreement: 

(i) in the name of such Grantor or its own name, or otherwise, take possession of and indorse and collect any check, draft, note, acceptance
or other instrument for the payment of moneys due with respect to any Collateral and file any claim or take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by the Collateral Trustee for the purpose of
collecting any such moneys due with respect to any other Collateral whenever payable; 
 (ii) unless being disputed as permitted pursuant
to the Parity Lien Documents, pay or discharge taxes and Liens levied or placed on or threatened against the Collateral, effect any repairs or any insurance called for by the terms of this Agreement or any other Parity Lien Document and pay all or
any part of the premiums therefor and the costs thereof; 
 (iii) execute, in connection with any sale provided for in
Section 5.01 or Section 5.03, any endorsements, assignments or other instruments of conveyance or transfer with respect to the Collateral; and 

(iv) (A) direct any party liable for any payment under any of the Collateral to make payment of any and all moneys due or to become due
thereunder directly to the Collateral Trustee or as the Collateral Trustee shall direct; (B) ask or demand for, collect, and receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in
respect of or arising out of any Collateral; (C) commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect the Collateral or any portion thereof and to enforce any other right
in respect of any Collateral; (D) defend any suit, action or proceeding brought against such Grantor with respect to any Collateral; (E) settle, compromise or adjust any such suit, action or proceeding and, in connection therewith, give
such discharges or releases as the Collateral Trustee may deem appropriate; and (F) generally, sell, transfer, pledge and make any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though the
Collateral Trustee were the absolute owner thereof for all purposes, and do, at the Collateral Trustee’s option and such Grantor’s expense, at any time, or from time to time, all acts and things which the Collateral Trustee deems necessary
to protect, preserve or realize upon the Collateral and the Collateral Trustee’s and the Secured Parties’ security interests therein and to effect the intent of this Agreement, all as fully and effectively as such Grantor might do. 

  
 12 

 Anything in this Section 6.01(a) to the contrary notwithstanding, the Collateral
Trustee agrees that it will not exercise any rights under the power of attorney provided for in this Section 6.01(a) unless a Parity Lien Debt Default shall have occurred and be continuing. 

(b) Subject to the terms of the Intercreditor Agreement, if any Grantor fails to perform or comply with any of its agreements contained herein
within the applicable grace periods, the Collateral Trustee, at its option, but without any obligation so to do, may perform or comply, or otherwise cause performance or compliance, with such agreement. 

(c) The expenses of the Collateral Trustee incurred in connection with actions undertaken as provided in this Section 6.01, shall
be payable by such Grantor to the Collateral Trustee on demand. 
 (d) Each Grantor hereby ratifies all that said attorneys shall lawfully
do or cause to be done by virtue and in compliance hereof. All powers, authorizations and agencies contained in this Agreement are coupled with an interest and are irrevocable until the Discharge of Second Lien Obligations. 

Section 6.02 Duty of Collateral Trustee. The Collateral Trustee’s sole duty with respect to the custody, safekeeping and
physical preservation of the Collateral in its possession, under Section 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Collateral Trustee deals with similar Property for its own account and the Collateral
Trustee shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which comparable secured parties accord comparable
collateral. Neither the Collateral Trustee, any other Secured Party nor any of their Related Parties shall be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation
to sell or otherwise dispose of any Collateral upon the request of any Grantor or any other Person or to take any other action whatsoever with regard to the Collateral or any part thereof. The powers conferred on the Collateral Trustee and the other
Secured Parties hereunder are solely to protect the Collateral Trustee’s and the other Secured Parties’ interests in the Collateral and shall not impose any duty upon the Collateral Trustee or any other Secured Party to exercise any such
powers. The Collateral Trustee and the other Secured Parties shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their Related Parties shall be responsible to any
Grantor for any act or failure to act hereunder, except for their own gross negligence or willful misconduct. To the fullest extent permitted by applicable law, the Collateral Trustee shall be under no duty whatsoever to make or give any
presentment, notice of dishonor, protest, demand for performance, notice of non-performance, notice of intent to accelerate, notice of acceleration, or other notice or demand in connection with any Collateral or the Parity Lien Obligations, or to
take any steps necessary to preserve any rights against any Grantor or other Person or ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Collateral, whether or not it
has or is deemed to have knowledge of such matters. Each Grantor, to the extent permitted by applicable law, waives any right of marshaling in respect of any and all Collateral, and waives any right to require the Collateral Trustee or any other
Secured Party to proceed against any Grantor or other Person, exhaust any Collateral or enforce any other remedy which the Collateral Trustee or any other Secured Party now has or may hereafter have against any Grantor or other Person. 

Section 6.03 Execution of Financing Statements. Pursuant to the UCC and any other applicable law, each Grantor authorizes the
Collateral Trustee, its counsel or its representative, at any time from time to time, to file or record financing statements and other filing or recording documents or instruments with respect to the Collateral without the signature of such Grantor
in such form and in such offices as the Collateral Trustee reasonably determines appropriate to perfect the security interests of the 

  
 13 

 
Collateral Trustee under this Agreement. A photographic or other reproduction of this Agreement shall be sufficient as a financing statement or other filing or recording document or instrument
for filing or recording in any jurisdiction. 
 Section 6.04 Authority of Collateral Trustee. Each Grantor acknowledges that the
rights and responsibilities of the Collateral Trustee under this Agreement with respect to any action taken by the Collateral Trustee or the exercise or non-exercise by the Collateral Trustee of any option, voting right, request, judgment or other
right or remedy provided for herein or resulting or arising out of this Agreement shall, as between the Collateral Trustee and the other Secured Parties, be governed by the Collateral Trust Agreement and by such other agreements with respect thereto
as may exist from time to time among them, but, as between the Collateral Trustee and the Grantors, the Collateral Trustee shall be conclusively presumed to be acting as agent for the Secured Parties with full and valid authority so to act or
refrain from acting, and no Grantor shall be under any obligation, or entitlement, to make any inquiry respecting such authority. 

ARTICLE VII 

SUBORDINATION OF PARITY LIEN OBLIGATIONS 

Section 7.01 Subordination of All Grantor Claims. As used herein, the term “Grantor Claims” shall mean all debts
and obligations of the Company or any other Grantor to any other Grantor, whether such debts and obligations now exist or are hereafter incurred or arise, or whether the obligation of the debtor thereon be direct, contingent, primary, secondary,
several, joint and several, or otherwise, and irrespective of whether such debts or obligations be evidenced by note, contract, open account, or otherwise, and irrespective of the Person or Persons in whose favor such debts or obligations may, at
their inception, have been, or may hereafter be created, or the manner in which they have been or may hereafter be acquired by such other Grantor. After and during the continuation of a Parity Lien Debt Default, no Grantor shall receive or collect,
directly or indirectly, from any other Grantor in respect thereof any amount upon the Grantor Claims. 
 Section 7.02 Claims in
Bankruptcy. In the event of receivership, bankruptcy, reorganization, arrangement, debtor’s relief, or other insolvency proceedings involving any Grantor, the Collateral Trustee on behalf of the Secured Parties shall have the right to prove
their claim in any proceeding, so as to establish their rights hereunder and receive directly from the receiver, trustee or other court custodian, dividends and payments which would otherwise be payable upon Grantor Claims. Each Grantor hereby
assigns such dividends and payments to the Collateral Trustee for the benefit of the Secured Parties for application against the Parity Lien Obligations as provided under Section 3.4 of the Collateral Trust Agreement. Should any Secured
Party receive, for application upon the Parity Lien Obligations, any such dividend or payment which is otherwise payable to any Grantor, and which, as between such Grantors, shall constitute a credit upon the Grantor Claims, then upon the Discharge
of Second Lien Obligations, the intended recipient shall become subrogated to the rights of the Collateral Trustee and the other Secured Parties to the extent that such payments to the Collateral Trustee and the other Secured Parties on the Grantor
Claims have contributed toward the liquidation of the Parity Lien Obligations, and such subrogation shall be with respect to that proportion of the Parity Lien Obligations which would have been unpaid if the Collateral Trustee and the other Secured
Parties had not received dividends or payments upon the Grantor Claims. 
 Section 7.03 Payments Held in Trust. In the event
that, notwithstanding Section 7.01 and Section 7.02 but in any event subject to the terms of the Intercreditor Agreement, any Grantor should receive any funds, payments, claims or distributions which are prohibited by such
Sections, then it agrees: (a) to hold in trust for the Collateral Trustee and the other Secured Parties an amount equal to the amount of all funds, payments, claims or distributions so received, and (b) that it shall have absolutely no

  
 14 

 
dominion over the amount of such funds, payments, claims or distributions except to pay them promptly to the Collateral Trustee, for the benefit of the Secured Parties; and each Grantor covenants
promptly to pay the same to the Collateral Trustee. 
 Section 7.04 Liens Subordinate. Each Grantor agrees that until the
Discharge of Second Lien Obligations, any Liens securing payment of the Grantor Claims shall be and remain inferior and subordinate to any Liens securing payment of the Parity Lien Obligations, regardless of whether such encumbrances in favor of
such Grantor, the Collateral Trustee or any other Secured Party presently exist or are hereafter created or attach. Without the prior written consent of the Collateral Trustee or as permitted by the Parity Lien Documents, no Grantor, during the
period in which any of the Parity Lien Obligations is outstanding shall (a) exercise or enforce any creditor’s right it may have against any debtor in respect of the Grantor Claims, or (b) foreclose, repossess, sequester or otherwise
take steps or institute any action or proceeding (judicial or otherwise, including without limitation the commencement of or joinder in any liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any Lien
securing payment of the Grantor Claims held by it. 
 Section 7.05 Notation of Records. Subject to the terms of the
Intercreditor Agreement, upon the request of the Collateral Trustee, all promissory notes and all accounts receivable ledgers or other evidence of the Grantor Claims accepted by or held by any Grantor shall contain a specific written notice thereon
that the indebtedness evidenced thereby is subordinated under the terms of this Agreement. 
 ARTICLE VIII 

MISCELLANEOUS 

Section 8.01 Waiver. No failure on the part of the Collateral Trustee or any Secured Party to exercise and no delay in exercising,
and no course of dealing with respect to, any right, power, privilege or remedy or any abandonment or discontinuance of steps to enforce such right, power, privilege or remedy under this Agreement or any other Parity Lien Document shall operate as a
waiver thereof, nor shall any single or partial exercise of any right, power, privilege or remedy under this Agreement or any other Parity Lien Documents preclude or be construed as a waiver of any other or further exercise thereof or the exercise
of any other right, power, privilege or remedy. The remedies provided herein are cumulative and not exclusive of any remedies provided by law or equity. 

Section 8.02 Notices. All notices and other communications provided for herein shall be given in the manner and subject to the
terms of Section 7.6 of the Collateral Trust Agreement. 
 Section 8.03 Amendments in Writing. None of the terms or
provisions of this Agreement may be waived, amended, supplemented or otherwise modified except in accordance with the Collateral Trust Agreement or the Intercreditor Agreement. 

Section 8.04 Successors and Assigns. The provisions of this Agreement shall be binding upon the Grantors and their successors and
assigns and shall inure to the benefit of the Collateral Trustee and the other Secured Parties and their respective successors and assigns; provided that except as permitted under the Parity Lien Documents, no Grantor may assign, transfer or
delegate any of its rights or obligations under this Agreement without the prior written consent of the Collateral Trustee, and any such purported assignment, transfer or delegation shall be null and void. 

Section 8.05 Survival; Revival; Reinstatement. 

(a) All covenants, agreements, representations and warranties made by any Grantor herein and in the certificates or other instruments delivered
in connection with or pursuant to this 

  
 15 

 
Agreement or any other Parity Lien Document to which it is a party shall be considered to have been relied upon by the Collateral Trustee and the other Secured Parties and shall survive the
execution and delivery of this Agreement, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Collateral Trustee or any other Secured Party may have had notice or knowledge of any default or
event of default under any Priority Lien Document or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect until the Discharge of Second Lien Obligations. 

(b) To the extent that any payments on the Parity Lien Obligations or proceeds of any Collateral are subsequently invalidated, declared to be
fraudulent or preferential, set aside or required to be repaid to a trustee, debtor in possession, receiver or other Person under any bankruptcy law, common law or equitable cause, then to such extent, the Parity Lien Obligations so satisfied shall
be revived and continue as if such payment or proceeds had not been received and the Collateral Trustee’s and the Secured Parties’ Liens, security interests, rights, powers and remedies under this Agreement and each other Parity Lien
Document shall continue in full force and effect. In such event, each Parity Lien Document shall be automatically reinstated and the Company shall take such action as may be reasonably requested by the Collateral Trustee and the Secured Parties to
effect such reinstatement. 
 Section 8.06 Counterparts; Integration; Effectiveness. 

(a) This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute
an original, but all of which when taken together shall constitute a single contract. 
 (b) This Agreement and the other Parity Lien
Documents constitute the entire contract among the parties relating to the subject matter hereof and thereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof and thereof.
THIS AGREEMENT AND THE OTHER PARITY LIEN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES HERETO AND THERETO AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO
UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 
 (c) This Agreement shall become effective when it shall have been executed by the
Collateral Trustee and when the Collateral Trustee shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the
parties hereto, the Secured Parties and their respective successors and permitted assigns. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other electronic transmission shall be effective as delivery of a
manually executed counterpart of this Agreement. 
 (d) In the event of a conflict between the provisions hereof and the Collateral Trust
Agreement, the provisions of the Collateral Trust Agreement shall control. 
 Section 8.07 Severability. Any provision of this
Agreement or any other Parity Lien Document held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the
validity, legality and enforceability of the remaining provisions hereof or thereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

  
 16 

 Section 8.08 Set-Off. Subject to the terms of the Intercreditor Agreement, if a
Parity Lien Debt Default shall have occurred and be continuing, each Secured Party is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final) at any time held and other obligations (of whatsoever kind) at any time owing by such Secured Party to or for the credit or the account of any Grantor against any of and all the obligations of the Grantor owed to such
Secured Party now or hereafter existing under this Agreement or any other Parity Lien Document, irrespective of whether or not such Secured Party shall have made any demand under this Agreement or any other Parity Lien Document and although such
obligations may be unmatured. The rights of each Secured Party under this Section 8.08 are in addition to other rights and remedies (including other rights of setoff) which such Secured Party or such Affiliates may have. 

Section 8.09 Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. 

(a) THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

(b) All judicial proceedings brought against any party hereto arising out of or relating to this Agreement or any of the other Parity Lien
Security Documents may be brought in any state or federal court of competent jurisdiction in the State, County and City of New York. By executing and delivering this Agreement, each party hereto irrevocably: 

(i) submits, for itself and its property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York
County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any
judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State court or, to the extent permitted by law, in such
federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this
Agreement shall affect any right that any party hereto may otherwise have to bring any action or proceeding relating to this Agreement in the courts of any jurisdiction; 

(ii) waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in Section 8.09(b)(i) above, and waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such court; 
 (iii) agrees that service of all process in any such proceeding in any such
court may be made by registered or certified mail, return receipt requested, to such party at its address provided in accordance with Section 8.02; 

(iv) agrees that service as provided in Section 8.09(b)(iii) above is sufficient to confer personal jurisdiction over such party
in any such proceeding in any such court and otherwise constitutes effective and binding service in every respect; and 
 (v) agrees each
party hereto retains the right to serve process in any other manner permitted by law or to bring proceedings against any party in the courts of any other jurisdiction. 

  
 17 

 (c) EACH PARTY TO THIS AGREEMENT WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ITS
RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING UNDER THIS AGREEMENT OR ANY DEALINGS BETWEEN THEM RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND
ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS AGREEMENT, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY TO THIS AGREEMENT
ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT EACH PARTY HERETO HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH PARTY HERETO WILL CONTINUE TO RELY ON THIS WAIVER
IN ITS RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.
THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION 8.09(C) AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER
WILL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS OF OR TO THIS AGREEMENT. IN THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 

Section 8.10 Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only,
are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

Section 8.11 Acknowledgments. Each Grantor hereby acknowledges that: 

(a) it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Parity Lien Documents to which
it is a party; 
 (b) neither the Collateral Trustee nor any other Secured Party has any fiduciary relationship with or duty to any Grantor
arising out of or in connection with this Agreement or any of the other Parity Lien Documents, and the relationship between the Grantors, on the one hand, and the Collateral Trustee and the other Secured Parties, on the other hand, in connection
herewith or therewith is solely that of debtor and creditor; 
 (c) no joint venture is created hereby or by the other Parity Lien Documents
or otherwise exists by virtue of the transactions contemplated hereby among the Secured Parties or among the Grantors and the Secured Parties; and 

(d) Each of the parties hereto specifically agrees that it has a duty to read this Agreement and the other Parity Lien Documents and agrees
that it is charged with notice and knowledge of the terms of this Agreement and the other Parity Lien Documents; that it has in fact read this Agreement and the other Parity Lien Documents and is fully informed and has full notice and knowledge of
the terms, conditions and effects thereof; that it has been represented by independent legal counsel of its choice throughout the negotiations preceding its execution of this Agreement and the other Parity Lien Documents; and has received the advice
of its attorney in entering into this Agreement and the other Parity Lien Documents; and that it recognizes that certain of the terms of this Agreement and the other 

  
 18 

 
Parity Lien Documents result in one party assuming the liability inherent in some aspects of the transaction and relieving the other party of its responsibility for such liability. EACH PARTY
HERETO AGREES AND COVENANTS THAT IT WILL NOT CONTEST THE VALIDITY OR ENFORCEABILITY OF ANY EXCULPATORY PROVISION OF THIS AGREEMENT AND THE OTHER PARITY LIEN DOCUMENTS ON THE BASIS THAT THE PARTY HAD NO NOTICE OR KNOWLEDGE OF SUCH PROVISION OR THAT
THE PROVISION IS NOT “CONSPICUOUS.” 
 Section 8.12 Additional Grantors. Each Subsidiary of the Company that is
required to become a party to this Agreement pursuant to the Indenture shall become an Grantor for all purposes of this Agreement upon execution and delivery by such Subsidiary of an Assumption Agreement and shall thereafter have the same rights,
benefits and obligations as a Grantor party hereto on the date hereof. Each Grantor that is required to pledge Equity Interests of its Subsidiaries pursuant to the Indenture shall execute and deliver a Supplement, if such Equity Interests were not
previously pledged. 
 Section 8.13 Releases. 

(a) Release of Liens. The security interests granted herein shall be released (i) in accordance with Sections 4.1,
4.4 and 4.5 of the Collateral Trust Agreement and (ii) automatically upon the occurrence of the Discharge of Second Lien Obligations. Upon any such release, then the Collateral Trustee, at the request and sole expense of the
Company, shall promptly execute and deliver to the Grantors all releases or other documents reasonably necessary or desirable as the Company or applicable Grantor may request to evidence such release. 

(b) Retention in Satisfaction. Except as may be expressly applicable pursuant to Section 9-620 of the UCC, no action taken or
omission to act by the Collateral Trustee or the other Secured Parties hereunder, including, without limitation, any exercise of voting or consensual rights or any other action taken or inaction, shall be deemed to constitute a retention of the
Collateral in satisfaction of the Parity Lien Obligations or otherwise to be in full satisfaction of the Parity Lien Obligations, and the Parity Lien Obligations shall remain in full force and effect, until the Collateral Trustee and the other
Secured Parties shall have applied payments (including, without limitation, collections from Collateral) towards the Parity Lien Obligations in the full amount then outstanding or until such subsequent time as is provided in
Section 8.13(a). 
 (c) Acceptance. Each Grantor hereby expressly waives notice of acceptance of this Agreement,
acceptance on the part of the Collateral Trustee and the other Secured Parties being conclusively presumed by their request for this Agreement and delivery of the same to the Collateral Trustee. 

Section 8.14 Intercreditor Agreement. 

(a) Notwithstanding anything to the contrary, (i) the liens and security interests granted to the Collateral Trustee hereunder are
expressly subject to the Intercreditor Agreement and (ii) the exercise of any right or remedy by the Collateral Trustee (and the other Secured Parties) hereunder is subject to the limitations and provisions of the Intercreditor Agreement. In
the event of any conflict between the provisions of this Agreement and the provisions of the Intercreditor Agreement, the provisions of the Intercreditor Agreement shall govern. 

(b) Without limiting the generality of the foregoing clause (a) and subject to the terms of the Intercreditor Agreement, with
respect to the Collateral, any obligation of any Grantor hereunder or under any other Parity Lien Document with respect to the delivery of possession or control 

  
 19 

 
of any Collateral, the provisions of voting rights, the turning over of proceeds to the Collateral Trustee or the obtaining of any consent of any Person, in each case in connection with any
Collateral shall, until the Discharge of Priority Lien Obligations, be deemed to be satisfied if such Grantor complies with the requirements of the similar provision of the applicable Priority Lien Document, including, for avoidance of doubt, by
delivering any possessory Collateral or granting control over any Collateral to the Priority Lien Representative. Notwithstanding anything in this Agreement to the contrary, for purposes of any representation in this Agreement, delivery of
Collateral to, or the granting of control over Collateral to, the Priority Lien Agent shall be deemed to include delivery of Collateral to, or the granting of control over Collateral to, the Collateral Trustee 

(c) Notwithstanding anything herein to the contrary, any request, decision or determination made, or documents or other items deemed
satisfactory, desirable, necessary, appropriate or advisable, by the Priority Lien Agent with respect to the equivalent section under the Priority Lien Documents, shall be deemed to have been made, or deemed satisfactory, desirable, necessary,
appropriate or advisable by the Collateral Trustee. 
 (d) Notwithstanding anything to the contrary contained herein, prior to the Discharge
of Priority Lien Obligations, no Grantor shall be required to take any actions other than the filing of UCC financing statements unless it is so required to take such action under the Priority Lien Documents. 

  
 20 

 IN WITNESS WHEREOF, each of the undersigned has caused this Second Lien Pledge Agreement to be
duly executed and delivered as of the date first above written. 
  

			
	LINN ENERGY, LLC
		
	By:	 	 /s/ David B. Rottino

	Name:	 	David B. Rottino
	Title:	 	 Executive Vice President and Chief
 Financial
Officer

  
 Signature Page 

Second Lien Pledge Agreement 

 
			
	 LINN ENERGY HOLDINGS, LLC

LINN OPERATING, INC.
 MID-CONTINENT HOLDINGS I,
LLC
 MID-CONTINENT HOLDINGS II, LLC

MID-CONTINENT I, LLC
 MID-CONTINENT II, LLC

LINN MIDSTREAM, LLC (formerly Linn Gas Marketing, LLC)

LINN EXPLORATION & PRODUCTION MICHIGAN LLC
 LINN
MIDWEST ENERGY LLC

		
	By:	 	 /s/ David B. Rottino

	Name:	 	David B. Rottino
	Title:	 	 Executive Vice President and Chief
 Financial
Officer, for and on behalf of each of the foregoing Grantors

	
	LINN EXPLORATION MIDCONTINENT, LLC,
	
	BY: MID-CONTINENT HOLDINGS II, LLC, ITS SOLE MEMBER, AS MEMBER/MANAGER
		
	By:	 	 /s/ David B. Rottino

	Name:	 	David B. Rottino
	Title:	 	 Executive Vice President and Chief
 Financial
Officer

  
 Signature Page 

Second Lien Pledge Agreement 

 Acknowledged and Agreed to as of the date hereof by: 

 

							
	COLLATERAL TRUSTEE:	 		 	U.S. BANK NATIONAL ASSOCIATION
				
		 		 	By:	 	 /s/ Mauri J. Cowen

		 		 	Name:	 	Mauri J. Cowen
		 		 	Title:	 	Vice President

  
 Signature Page 

Second Lien Pledge Agreement 

 ACKNOWLEDGMENT AND CONSENT 

The undersigned hereby acknowledges receipt of a copy of the Second Lien Pledge Agreement dated as of November 20, 2015 (as amended,
restated, supplemented or otherwise modified from time to time, the “Pledge Agreement”), made by the Grantors parties thereto for the benefit of U.S. BANK NATIONAL ASSOCIATION, as Collateral Trustee. The undersigned agrees for the
benefit of the Collateral Trustee and the Secured Parties as follows: 
 1. The undersigned will be bound by the terms of the Pledge
Agreement and will comply with such terms insofar as such terms are applicable to the undersigned. 
 2. The terms of
Section 5.01(a) and Section 5.03 of the Pledge Agreement shall apply to it, mutatis mutandis, with respect to all actions that may be required of it pursuant to Section 5.01(a) or Section 5.03
of the Pledge Agreement. 
  

			
	[NAME OF PLEDGED ENTITY]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	Address for Notices:
	
	  

	  

	  

	  

  
  

	*	This consent is necessary only with respect to any Pledged Entity which is not also a Grantor. This consent may be modified or eliminated with respect to any Pledged Entity that is not controlled by a Grantor.

 Annex I 

Assumption Agreement 

ASSUMPTION AGREEMENT (the “Assumption Agreement”), dated as of
[            ], 201[  ], made by
[                                ], a
[                    ] (the “Additional Grantor”), in favor of U.S. BANK NATIONAL ASSOCIATION, as collateral trustee (in such
capacity, the “Collateral Trustee”) for the Secured Parties (used herein as defined in the Pledge Agreement referred to below). All capitalized terms not defined herein shall have the meaning ascribed to them in the Pledge Agreement
referred to below. 
 W I T N E S S E T H: 

WHEREAS, the Grantors have entered into (a) that certain Indenture, dated as of November 20, 2015 (as amended, restated,
supplemented, or otherwise modified from time to time, the “Indenture”) by and among the Linn Energy, LLC, Linn Energy Finance Corp., the guarantors party thereto and U.S. Bank National Association, as trustee (together with its
successors in such capacity, the “Trustee”), on behalf of the holders (the “Holders”) of the Notes pursuant to which the Company issued $1,000,000,000 in aggregate principal amount of its 12% Senior Secured Second
Lien Notes due 2020 and (b) that certain Collateral Trust Agreement, dated as of November 20, 2015 (as amended, restated, supplemented, or otherwise modified from time to time, the “Collateral Trust Agreement”) by and
among Linn Energy, LLC, the guarantors party thereto and U.S. Bank National Association, as Trustee and as Collateral Trustee and the other Parity Lien Representatives (as defined therein) from time to time party thereto; 

WHEREAS, in connection with the Parity Lien Documents, the Company and certain of its Subsidiaries (other than the Additional Grantor) have
entered into a Second Lien Pledge Agreement, dated as of November 20, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Pledge Agreement”) in favor of the Collateral Trustee for the benefit
of the Secured Parties; 
 WHEREAS, the Indenture requires the Additional Grantor to become a party to the Pledge Agreement; and 

WHEREAS, the Additional Grantor has agreed to execute and deliver this Assumption Agreement in order to become a party to the Pledge
Agreement; 
 NOW, THEREFORE, IT IS AGREED: 

1. Pledge Agreement. By executing and delivering this Assumption Agreement, the Additional Grantor, as required in
Section 8.12 of the Pledge Agreement, hereby becomes a party to the Pledge Agreement as a Grantor thereunder with the same force and effect as if originally named therein as a Grantor and, without limiting the generality of the
foregoing, hereby expressly assumes all obligations and liabilities of a Grantor thereunder and expressly pledges, assigns and transfers to the Collateral Trustee, for the benefit of the Secured Parties, a security interest in all of the following
Property now owned or at any time hereafter acquired by such Additional Grantor or in which such Additional Grantor now has or at any time hereafter acquired by such Additional Grantor in which such Additional Grantor now has or any time in the
future may acquire any right, title or interest (collectively, the “Collateral”), to secure all of such Additional Grantor’s Parity Lien Obligations: (a) the Equity Interests described or referred to in Schedule I-A
and (b) (i) the certificates or instruments, if any, representing such Equity Interests, (ii) all dividends (cash, Equity Interests or otherwise), cash, instruments, rights to subscribe, purchase or sell and all other rights and
Property from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such Equity Interests, (iii) all replacements, additions to and substitutions for any of the Property referred to in this
Section 1, including, without 

  
 Annex I - 1 

 
limitation, claims against third parties, (iv) the proceeds, interest, profits and other income of or on any of the Property referred to in this Section 1, (v) all security
entitlements in respect of any of the foregoing, if any, and (vi) all books and records relating to any of the Property referred to in this Section 1, and (c) to the extent not otherwise included, all Proceeds and products of
the items in clauses (a) and (b) above. Notwithstanding anything to the contrary contained in this Section or the Pledge Agreement (including Section 2.01 thereto) or in any other Note Documents, the term “Collateral”
shall not include any Excluded Assets. Upon execution of this Assumption Agreement, the Equity Interests constituting the Collateral will constitute Pledged Securities for purposes of the Pledge Agreement with the same force and effect as if
originally listed on Schedule 2 thereto. The information set forth in Annexes 1-B, C, and D hereto is hereby added to the information set forth in Schedules 1, 3 and 4, as applicable, to the
Pledge Agreement. The Additional Grantor hereby represents and warrants that each of the representations and warranties contained in Article III of the Pledge Agreement is true and correct on and as the date hereof (after giving effect to
this Assumption Agreement) as if made on and as of such date, except, in each case, to the extent any such representations and warranties are expressly limited to an earlier date, in which case such representations and warranties shall continue to
be true and correct as of such specified earlier date. 
 2. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE
OF NEW YORK. 

  
 Annex I - 2 

 IN WITNESS WHEREOF, the undersigned has caused this Assumption Agreement to be duly executed and
delivered as of the date first above written. 
  

			
	[ADDITIONAL GRANTOR]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 Annex I - 3 

 ANNEX I-A 

DESCRIPTION OF PLEDGED SECURITIES 

Pledged Securities: 
  

													
	 Grantor
	  	Issuer	  	Percentage
Owned	  	Percentage
Pledged	  	Class of Equity
Interest	  	No. of
Shares	  	Certificate
No.
		  		  		  		  		  		  	

  
 ANNEX I-A 

 ANNEX I-B 

NOTICE ADDRESSES OF ADDITIONAL GRANTOR 

Name:
                                 

Address:
                                 

Attention:
                                 

Telephone:
                                 

Fax:
                                 

E-Mail:
                                 

  
 ANNEX I-B 

 ANNEX I-C 

FILINGS 
 REQUIRED TO
PERFECT SECURITY INTERESTS 
 1. Filing of UCC-1 Financing Statement[s] with respect to the Collateral for the Additional Grantor[s] in
the jurisdiction[s] listed below. 
  

			
	 Entity
	  	 Jurisdiction

		  	

  
 ANNEX I-C 

 ANNEX I-D 

LOCATION OF JURISDICTION OF 

ORGANIZATION AND CHIEF EXECUTIVE OFFICE 

Legal name:
                                 

Address:
                                 

All names and trade names used in the last five years:              

Jurisdiction of organization over the last five years:          

Current jurisdiction of organization:                     

 Organizational number:                      

  
 ANNEX I-D 

 Annex II 

Supplement 
 SUPPLEMENT
(the “Supplement”), dated as of [            ], 201[  ], made by
[                                ], a
[                    ] (the “Grantor”), in favor of U.S. BANK NATIONAL ASSOCIATION, as collateral trustee (in such capacity, the
“Collateral Trustee”) for the Secured Parties (used herein as defined in the Pledge Agreement referred to below). All capitalized terms used herein and not defined herein shall have the meaning ascribed to them in the Pledge
Agreement described below. 
 W I T N E S S E T H: 

WHEREAS, the Grantors, including the undersigned Grantor, have entered into (a) that certain Indenture, dated as of November 20,
2015 (as amended, restated, supplemented, or otherwise modified from time to time, the “Indenture”) by and among the Linn Energy, LLC, Linn Energy Finance Corp., the guarantors party thereto and U.S. Bank National Association, as
trustee (together with its successors in such capacity, the “Trustee”), on behalf of the holders (the “Holders”) of the Notes pursuant to which the Company issued $1,000,000,000 in aggregate principal amount of its
12% Senior Secured Second Lien Notes due 2020 and (b) that certain Collateral Trust Agreement, dated as of November 20, 2015 (as amended, restated, supplemented, or otherwise modified from time to time, the “Collateral Trust
Agreement”) by and among Linn Energy, LLC, the guarantors party thereto and U.S. Bank National Association, as Trustee and as Collateral Trustee and the other Parity Lien Representatives (as defined therein) from time to time party thereto;

 WHEREAS, in connection with the Parity Lien Documents, the Company and certain of its Subsidiaries, including the undersigned Grantor,
have entered into a Second Lien Pledge Agreement, dated as of November 20, 2015 (as amended, restated, supplemented or otherwise modified from time to time, the “Pledge Agreement”) in favor of the Collateral Trustee for the
benefit of the Secured Parties; 
 WHEREAS, the Indenture requires the Grantor to pledge the Equity Interests described on Schedule
I-S hereof; and 
 WHEREAS, the Grantor has agreed to execute and deliver this Supplement in order to pledge such Equity Interests; 

NOW, THEREFORE, IT IS AGREED: 

1. Second Lien Pledge Agreement. By executing and delivering this Supplement, the Grantor, as required by Section 8.12 of
the Pledge Agreement, hereby expressly pledges, assigns and transfers to the Collateral Trustee, and hereby grants to the Collateral Trustee, for the benefit of the Secured Parties, a security interest in all of the following Property now owned or
at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time hereafter acquired by such Grantor in which such Grantor now has or any time in the future may acquire any right, title or interest (collectively, the
“Collateral”), to secure all of such Grantor’s Parity Lien Obligations: (a) the Equity Interests described or referred to in Schedule I-S and (b) (i) the certificates or instruments, if any, representing
such Equity Interests, (ii) all dividends (cash, Equity Interests or otherwise), cash, instruments, rights to subscribe, purchase or sell and all other rights and Property from time to time received, receivable or otherwise distributed in
respect of or in exchange for any or all of such Equity Interests, (iii) all replacements, additions to and substitutions for any of the Property referred to in this Section 1, including, without limitation, claims against third
parties, (iv) the proceeds, interest, profits and other income of or on any of the Property referred to in this Section 1, (v) all security entitlements in 

  
 Annex II - 1 

 
respect of any of the foregoing, if any, and (vi) all books and records relating to any of the Property referred to in this Section 1 and (c) to the extent not otherwise
included, all Proceeds and products of the items in clauses (a) and (b) above. Notwithstanding anything to the contrary contained in this Section or the Pledge Agreement (including Section 2.01 thereto) or in any other Note
Documents, the term “Collateral” shall not include any Excluded Assets. Upon execution of this Supplement, the Equity Interests constituting the Collateral will constitute Pledged Securities for purposes of the Pledge Agreement with the
same force and effect as if originally listed on Schedule 2 thereto. The information set forth in Schedule I-S hereto is hereby added to the information set forth in Schedule 2 to the Pledge Agreement. The Grantor
hereby represents and warrants that each of the representations and warranties contained in Article III of the Pledge Agreement is true and correct on and as the date hereof (after giving effect to this Supplement) as if made on and as of
such date, except, in each case, to the extent any such representations and warranties are expressly limited to an earlier date, in which case such representations and warranties shall continue to be true and correct as of such specified earlier
date. 
 2. Governing Law. THIS SUPPLEMENT SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 

IN WITNESS WHEREOF, the undersigned has caused this Supplement to be duly executed and delivered as of the date first above written. 

 

			
	[GRANTOR]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 Annex II - 2 

 SCHEDULE I-S 

DESCRIPTION OF PLEDGED SECURITIES 

Pledged Securities: 
  

													
	 Grantor
	  	Issuer	  	Percentage
Owned	  	Percentage
Pledged	  	Class of Equity
Interest	  	No. of
Shares	  	Certificate
No.
		  		  		  		  		  		  	

  
 Schedule I-SEX-10.2

 Exhibit 10.2 

Execution Version 

FORM OF REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made and entered into as of November 20, 2015, by and
among Linn Energy, LLC, a Delaware limited liability company (the “Company”), Linn Energy Finance Corp., a Delaware corporation (“Finance Corp.” and, together with the Company, the
“Issuers”), the guarantors listed on Schedule A hereto (collectively, the “Guarantors”) and each entity listed under UNDERSIGNED on the signature pages hereto (the
“Undersigned”), for themselves and on behalf of the respective funds or accounts listed on Exhibit A to the respective Exchange Agreement (as defined below) to which such Undersigned is a party (collectively, the
“Investors”), who have agreed to purchase the Issuers’ 12.00% Senior Secured Second Lien Notes due 2020 (the “Initial Notes”) fully and unconditionally guaranteed by the Guarantors (the
“Guarantees”) pursuant to the Exchange Agreement. The Initial Notes and the Guarantees are herein collectively referred to as the “Initial Securities.” 

This Agreement is made pursuant to the Exchange Agreements, dated November 13, 2015 (the “Exchange Agreement”),
between the Issuers and the respective Undersigned for the benefit of the Holders from time to time of the Initial Securities, including the Investors. In order to induce the Investors to purchase the Initial Securities, the Issuers have agreed to
provide the registration rights set forth in this Agreement. 
 The parties hereby agree as follows: 

SECTION 1. Definitions. As used in this Agreement, the following capitalized terms shall have the following meanings: 

Additional Interest: As defined in Section 5(a) hereof. 

Advice: As defined in the last paragraph of Section 6(c) hereof. 

Affiliates: As defined in Rule 144 under the Securities Act. 

Agreement: As defined in the preamble hereto. 

Blackout Period: As defined in the last paragraph of Section 4(a) hereof. 

Broker-Dealer: Any broker or dealer registered under the Exchange Act. 

Business Day: As defined in the Indenture. 

Closing Date: The date of this Agreement. 

Commission: The Securities and Exchange Commission. 

Company: As defined in the preamble hereto. 

Consummate: A registered Exchange Offer shall be deemed “Consummated” for purposes of this Agreement upon the occurrence of
(i) the filing and effectiveness under the 

 
Securities Act of the Exchange Offer Registration Statement relating to the Exchange Securities to be issued in the Exchange Offer, (ii) the maintenance of such Registration Statement
continuously effective and the keeping of the Exchange Offer open for a period not less than the minimum period required pursuant to Section 3(b) hereof, and (iii) the delivery by the Issuers to the Registrar under the Indenture of
Exchange Securities in the same aggregate principal amount as the aggregate principal amount of Initial Securities that were tendered by Holders thereof pursuant to the Exchange Offer. 

Exchange Act: The Securities Exchange Act of 1934, as amended. 

Exchange Agreement: As defined in the preamble hereto. 

Exchange Offer: The Issuers’ offer to the Holders of all outstanding Transfer Restricted Securities of the opportunity to exchange
all such outstanding Transfer Restricted Securities held by such Holders for Exchange Securities in an aggregate principal amount equal to the aggregate principal amount of the Transfer Restricted Securities tendered in such exchange offer by such
Holders. 
 Exchange Offer Registration Statement: The Registration Statement relating to the Exchange Offer, including the related
Prospectus. 
 Exchange Securities: The 12.00% Senior Secured Second Lien Notes due 2020, of the same series under the Indenture as
the Initial Notes, and the Guarantees related thereto, issued to Holders in exchange for Transfer Restricted Securities pursuant to this Agreement. 

Finance Corp.: As defined in the preamble hereto. 

FINRA: The Financial Industry Regulatory Authority, Inc. 

Guarantors: As defined in the preamble hereto. 

Guarantees: As defined in the preamble hereto. 

Holder: As defined in Section 2(b) hereof. 

Indemnified Holder: As defined in Section 8(a) hereof. 

Indenture: The Indenture, dated as of November 20, 2015 by and among the Issuers, the Guarantors and the Trustee, pursuant to
which the Securities are to be issued, as such Indenture is amended or supplemented from time-to-time in accordance with the terms thereof. 

Investors: As defined in the preamble hereto. 

Initial Notes: As defined in the preamble hereto. 

Initial Placement: The issuance and sale by the Issuers of the Initial Securities to the Investors pursuant to the Exchange Agreement.

 Initial Securities: As defined in the preamble hereto. 

  
 2 

 Issuers: As defined in the preamble hereto. 

Person: An individual, partnership, limited liability company, corporation, trust or unincorporated organization, or a government or
agency or political subdivision thereof. 
 Prospectus: The prospectus included in a Registration Statement, as amended or
supplemented by any prospectus supplement and by all other amendments thereto, including post-effective amendments, and all material incorporated by reference into such Prospectus. 

Registration Default: Any of the following events: 

(a) the Initial Securities are not freely tradeable (by Persons other than Affiliates of the Company) pursuant to Rule 144
under the Securities Act as of the 370th day after the Closing Date; 

(b) the restrictive legend on the Initial Securities (other than with respect to Persons that are Affiliates of the Company)
has not been removed as of the 370th day after the Closing Date; or 

(c) after the Shelf Registration Statement is declared (or becomes automatically) effective (i) such Shelf Registration
Statement thereafter ceases to be effective or (ii) such Shelf Registration Statement or the related Prospectus ceases to be usable in connection with resales of Transfer Restricted Securities during the periods specified herein because (but
excluding any Blackout Period) either (A) any event occurs as a result of which the related Prospectus forming part of such Shelf Registration Statement would include any untrue statement of a material fact or omit to state any material fact
necessary to make the statements therein in the light of the circumstances under which they were made not misleading, (B) it shall be necessary to amend such Shelf Registration Statement or supplement the related Prospectus, to comply with the
Securities Act or the Exchange Act or the respective rules thereunder or (C) such Shelf Registration Statement has expired before a replacement Shelf Registration Statement has become effective. 

Registration Statement: Any Exchange Offer Registration Statement or Shelf Registration Statement, which is filed pursuant to the
provisions of this Agreement, in each case, including the Prospectus included therein, all amendments and supplements thereto (including post-effective amendments) and all exhibits and material incorporated by reference therein. 

Securities: The Initial Securities and the Exchange Securities. 

Securities Act: The Securities Act of 1933, as amended. 

Shelf Registration Statement: As defined in Section 4(a)(x) hereof. 

Transfer Restricted Securities: Each Initial Security, until the earliest to occur of (a) the date on which such Initial Security
is exchanged in the Exchange Offer for an Exchange Security 

  
 3 

 
entitled to be resold to the public by the Holder thereof without complying with the prospectus delivery requirements of the Securities Act, (b) the date on which such Initial Security has
been effectively registered under the Securities Act and disposed of in accordance with a Shelf Registration Statement, (c) the date on which the restrictive legend on such Initial Security has been removed (other than with respect to Persons
that are Affiliates of the Company) and the Initial Security is freely tradeable (by Persons other than Affiliates of the Company) pursuant to Rule 144 under the Securities Act, (d) the date on which such Initial Security is distributed to the
public by a Broker-Dealer pursuant to the “Plan of Distribution” contemplated by the Exchange Offer Registration Statement (including delivery of the Prospectus contained therein) and (e) the date on which such Initial Security ceases
to be outstanding for purposes of the Indenture. 
 Trust Indenture Act: The Trust Indenture Act of 1939, as amended. 

Trustee: U. S. Bank National Association. 

Underwritten Registration or Underwritten Offering: A registration in which securities of the Company are sold to an underwriter for
reoffering to the public. 
 SECTION 2. Securities Subject to this Agreement. 

(a) Transfer Restricted Securities. The securities entitled to the benefits of this Agreement are the Transfer Restricted Securities.

 (b) Holders of Transfer Restricted Securities. A Person is deemed to be a holder of Transfer Restricted Securities (each, a
“Holder”) whenever such Person owns Transfer Restricted Securities. 
 SECTION 3. Registered Exchange
Offer. 
 (a) If the restrictive legend on the Initial Securities is not removed and an unrestricted CUSIP number is not provided
with respect to the Initial Securities (in each case, other than with respect to Persons that are Affiliates of the Company) and the Initial Securities are not freely tradeable pursuant to Rule 144 under the Securities Act (by Persons other than
Affiliates of the Issuers) as of the 370th day after the Closing Date, each of the Issuers and the Guarantors shall, at their cost, (i) cause to be filed with the Commission, an Exchange
Offer Registration Statement under the Securities Act relating to the Exchange Securities (other than Transfer Restricted Securities acquired by any Broker-Dealer directly from the Issuers) and the Exchange Offer, (ii) use their commercially
reasonable efforts (which shall include the filing of all necessary amendments to such Registration Statement) to cause the Exchange Offer Registration Statement to be declared effective by the Commission and (iii) upon the effectiveness of the
Exchange Offer Registration Statement, promptly commence the Exchange Offer. The Exchange Offer shall be on the appropriate form permitting registration of the Exchange Securities to be offered in exchange for the Transfer Restricted Securities
(other than Transfer Restricted Securities acquired by any Broker-Dealer directly from the Issuers) and to permit resales of Transfer Restricted Securities held by Broker-Dealers as contemplated by Section 3(c) hereof; provided,
however, that if prior to the time that the Exchange Offer is Consummated the Initial Securities become freely tradeable pursuant to Rule 144 under the Securities Act (by Persons other than Affiliates of the Issuers), then the obligations of the
Issuers and the Guarantors under this Section 3(a) shall cease and be of no further force and effect. 

  
 4 

 (b) If the Issuers and the Guarantors are required to commence the Exchange Offer pursuant to
Section 3(a) above, the Issuers and the Guarantors shall cause the Exchange Offer Registration Statement to be effective continuously and shall keep the Exchange Offer open for a period of not less than 20 Business Days (or longer if
required under applicable law) after the date that notice of the Exchange Offer is mailed to Holders. The Issuers shall cause the Exchange Offer to comply with all applicable federal and state securities laws. No securities other than the Exchange
Securities shall be included in the Exchange Offer Registration Statement. 
 (c) If the Issuers and the Guarantors are required to commence
the Exchange Offer pursuant to Section 3(a) above, the Issuers shall indicate in a “Plan of Distribution” section contained in the Prospectus forming a part of the Exchange Offer Registration Statement that any Broker-Dealer
who holds Initial Securities that are Transfer Restricted Securities that were acquired for its own account as a result of market-making activities or other trading activities (other than Transfer Restricted Securities acquired directly from the
Issuers) may exchange such Initial Securities pursuant to the Exchange Offer; however, such Broker-Dealer may be deemed to be an “underwriter” within the meaning of the Securities Act and must, therefore, deliver a prospectus meeting the
requirements of the Securities Act in connection with any resales of the Exchange Securities received by such Broker-Dealer in the Exchange Offer, which prospectus delivery requirement may be satisfied by the delivery by such Broker-Dealer of the
Prospectus contained in the Exchange Offer Registration Statement. Such “Plan of Distribution” section shall also contain all other information with respect to such resales by Broker-Dealers that the Commission may require in order to
permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such Broker-Dealer or disclose the amount of Initial Securities held by any such Broker-Dealer except to the extent required by the Commission. 

(d) If the Issuers and the Guarantors are required to commence the Exchange Offer pursuant to Section 3(a) above and are requested
by any such Broker-Dealer, each of the Issuers and the Guarantors shall use its commercially reasonable efforts to keep the Exchange Offer Registration Statement continuously effective, supplemented and amended as required by the provisions of
Section 6(c) hereof to the extent necessary to ensure that it is available for resales of Transfer Restricted Securities acquired by Broker-Dealers for their own accounts as a result of market-making activities or other trading
activities, and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and regulations of the Commission as announced from time to time, for a period ending on the earlier of (i) 210 days
after the Consummation of the Exchange Offer and (ii) the date on which a Broker-Dealer is no longer required to deliver a prospectus in connection with market-making or other trading activities. 

(e) If the Issuers and the Guarantors are required to commence the Exchange Offer pursuant to Section 3(a) above, the Issuers
shall provide sufficient copies of the latest version of the Prospectus to Broker-Dealers promptly upon request at any time during such 210-day (or shorter as provided in clause (d) above) period in order to facilitate such resales. 

  
 5 

 SECTION 4. Shelf Registration. 

(a) Shelf Registration. 

If (i) because of any change in law or in applicable interpretations thereof by the staff of the Commission, the Company is not permitted
to effect an Exchange Offer that is required by Section 3 hereof, (ii) for any reason the Exchange Offer is required by Section 3 hereof to be but is not Consummated within one year and 90 days of the Closing Date and
the Transfer Restricted Securities are not freely tradeable pursuant to Rule 144 under the Securities Act (unless an Exchange Offer Registration Statement has been filed within one year and 45 days of the Closing Date and has not yet been declared
effective by the Commission other than as a result of the fault of any Issuer or Guarantor) or (iii) any Holder (other than a Broker-Dealer who holds Transfer Restricted Securities that were acquired for its own account as a result of
market-making activities or other trading activities) is not eligible to participate in any Exchange Offer required by Section 3 hereof or, in the case of any Holder (other than a Broker-Dealer who holds Transfer Restricted Securities
that were acquired for its own account as a result of market-making activities or other trading activities) that participates in any such Exchange Offer, such Holder does not receive freely tradeable Exchange Securities on the date of the exchange,
then the Issuers and the Guarantors shall, at their cost: 
 (x) as promptly as practicable, cause to be filed a shelf
registration statement pursuant to Rule 415 under the Securities Act, which may be an amendment to the Exchange Offer Registration Statement (in either event, the “Shelf Registration Statement”), which Shelf Registration
Statement shall provide for resales of all Transfer Restricted Securities the Holders of which shall have provided the information required pursuant to Section 4(b) hereof; and 

(y) use their commercially reasonable efforts to cause such Shelf Registration Statement to be declared effective by the
Commission on or before the 90th day after the date on which the Shelf Registration Statement is required to be filed. 
 Each of the
Issuers and the Guarantors shall use its commercially reasonable efforts to keep such Shelf Registration Statement continuously effective, supplemented and amended as required by the provisions of Sections 6(b) and (c) hereof to
the extent necessary to ensure that it is available for resales of Transfer Restricted Securities by the Holders of Transfer Restricted Securities entitled to the benefit of this Section 4(a) and to ensure that it conforms with the
requirements of this Agreement, the Securities Act and the policies, rules and regulations of the Commission as announced from time to time, for a period of at least one year following the effective date of the Shelf Registration Statement or such
shorter period that will terminate when all the Initial Securities covered by such Shelf Registration Statement (A) have been sold pursuant to such Shelf Registration Statement or (B) may be sold without a restrictive legend or volume
limitations pursuant to Rule 144 under the Securities Act or any successor rule thereof. Each of the Issuers and the Guarantors shall be deemed not to have used its commercially reasonable efforts to keep the Shelf Registration Statement effective
during the requisite period if any of the Issuers or the Guarantors voluntarily takes any action that would result in Holders of Transfer Restricted Securities covered thereby not being able to offer and sell such Transfer Restricted Securities
during that period, unless (X) such action is required by applicable law; or 

  
 6 

 
(Y) such action is taken by any of the Issuers or Guarantors in good faith and for valid business reasons (not including avoidance of the Issuers or the Guarantors obligations hereunder)
including, but not limited to, the acquisition or divestiture of assets, so long as the Issuers and the Guarantors promptly thereafter comply with the requirements of the last paragraph of Section 6(c) hereof (the period during which the
Shelf Registration Statement is not available under clauses (X) or (Y) above, the “Blackout Period”). The Blackout Period shall not exceed 45 days in any three-month period or 90 days in any twelve-month period,
except as a result of a review of any post-effective amendment to the Shelf Registration Statement by the Commission before declaring any post-effective amendment to the Shelf Registration Statement effective, provided that the Issuers have
used their commercially reasonable efforts to cause such post-effective amendment to be declared effective. 
 (b) Provision by Holders
of Certain Information in Connection with the Shelf Registration Statement. No Holder of Transfer Restricted Securities may include any of its Transfer Restricted Securities in any Shelf Registration Statement pursuant to this Agreement unless
and until such Holder furnishes to the Company in writing, within 20 Business Days after receipt of a request therefor, such information as the Company may reasonably request for use in connection with any Shelf Registration Statement or Prospectus
or preliminary Prospectus included therein. Each Holder as to which any Shelf Registration Statement is being effected agrees to furnish promptly to the Company all information required to be disclosed in order to make the information previously
furnished to the Company by such Holder not materially misleading. 
 SECTION 5. Additional Interest. 

(a) If any Registration Default shall occur, the Issuers hereby agree that the interest rate borne by the Transfer Restricted Securities shall
be increased by 0.25% per annum during the 90-day period immediately following the occurrence of any Registration Default and shall increase by 0.25% per annum at the end of each subsequent 90-day period, but in no event shall such
increase exceed 1.00% per annum. Such additional interest to be paid pursuant to a Registration Default as set forth in this Section 5 is herein referred to as “Additional Interest.” 

(b) Registration Defaults shall be cured on the date that (i) the Initial Securities are freely tradeable (by Persons other than
Affiliates of the Company) pursuant to Rule 144 under the Securities Act and the restrictive legend on the Initial Securities has been removed (other than with respect to Persons that are Affiliates of the Company), (ii) the Exchange Offer has
been Consummated (provided that this clause (ii) shall not cure a Registration Default if a Shelf Registration Statement is required to be filed pursuant to clause (i), (iii) or (iv) of the first paragraph of Section 4(a))
or (iii) a Shelf Registration Statement is declared (or automatically becomes) effective under the Securities Act. Following the cure of all Registration Defaults relating to any particular Transfer Restricted Securities in accordance with this
Section 5(b), Additional Interest will cease to accrue and the interest rate on the Transfer Restricted Securities will revert to the original rate; provided, however, that, if after the date such Additional Interest ceases to
accrue, another Registration Default occurs, Additional Interest will again commence accruing on the relevant Transfer Restricted Securities pursuant to the foregoing provisions. The Issuers shall not be required to pay Additional Interest for more
than one Registration Default at any given time. 

  
 7 

 (c) All Additional Interest accrued pursuant to this Section 5 shall be paid in the
manner provided for in the Indenture. All obligations of the Issuers and the Guarantors set forth in Section 5(a) that are outstanding with respect to any Transfer Restricted Security at the time such security ceases to be a Transfer
Restricted Security shall survive until such time as all such obligations with respect to such security shall have been satisfied in full. 

SECTION 6. Registration Procedures. 

(a) Exchange Offer Registration Statement. In connection with the Exchange Offer, the Issuers and the Guarantors shall comply with all
of the applicable provisions of Section 6(c) hereof, shall use their commercially reasonable efforts to effect such exchange to permit the sale of Transfer Restricted Securities being sold in accordance with the intended method or
methods of distribution thereof. As a condition to its participation in the Exchange Offer pursuant to the terms of this Agreement, each Holder of Transfer Restricted Securities shall furnish, upon the request of the Issuers, prior to the
Consummation thereof, a written representation to the Issuers (which may be contained in the letter of transmittal contemplated by the Exchange Offer Registration Statement) to the effect that (A) it is not an affiliate (within the meaning of
Rule 405 under the Securities Act) of any of the Issuers or the Guarantors, (B) it is not engaged in, and does not intend to engage in, and has no arrangement or understanding with any Person to participate in, a distribution (within the
meaning of the Securities Act) of the Exchange Securities to be issued in the Exchange Offer and (C) it is acquiring the Exchange Securities in its ordinary course of business. In addition, all such Holders of Transfer Restricted Securities
shall otherwise cooperate in the Issuers’ preparations for the Exchange Offer. Each Holder hereby acknowledges and agrees that any Broker-Dealer and any such Holder using the Exchange Offer to participate in a distribution of the securities to
be acquired in the Exchange Offer (1) could not under Commission policy as in effect on the date of this Agreement rely on the position of the Commission enunciated in Morgan Stanley and Co., Inc. (available June 5, 1991) and
Exxon Capital Holdings Corporation (available May 13, 1988), as interpreted in the Commission’s letter to Shearman & Sterling dated July 2, 1993, and similar no-action letters, and (2) must comply with the
registration and prospectus delivery requirements of the Securities Act in connection with a secondary resale transaction and that such a secondary resale transaction should be covered by an effective registration statement containing the selling
security holder information required by Item 507 or 508, as applicable, of Regulation S-K if the resales are of Exchange Securities obtained by such Holder in exchange for Initial Securities acquired by such Holder directly from the Issuers.

 (b) Shelf Registration Statement. In connection with the Shelf Registration Statement, each of the Issuers and the Guarantors
shall comply with all the provisions of Section 6(c) hereof and shall use its commercially reasonable efforts to effect such registration to permit the sale of the Transfer Restricted Securities being sold in accordance with the intended
method or methods of distribution thereof, and pursuant thereto each of the Issuers and the Guarantors will as expeditiously as possible prepare and file with the Commission a Registration Statement relating to the registration on any appropriate
form under the Securities Act, which form shall be available for the sale of the Transfer Restricted Securities in accordance with the intended method or methods of distribution thereof. 

  
 8 

 (c) General Provisions. In connection with any Registration Statement and any Prospectus
required by this Agreement to permit the sale or resale of Transfer Restricted Securities (including, without limitation, any Registration Statement and the related Prospectus required to permit resales of Initial Securities by Broker-Dealers), each
of the Issuers and the Guarantors shall: 
 (i) use its commercially reasonable efforts to keep such Registration Statement
continuously effective and provide all requisite financial statements (including, if required by the Securities Act or any regulation thereunder, financial statements of the Guarantors) for the period specified in Section 3 or 4
hereof, as applicable; upon the occurrence of any event that would cause any such Registration Statement or the Prospectus contained therein (A) to contain a material misstatement or omission or (B) not to be effective and usable for
resale of Transfer Restricted Securities during the period required by this Agreement, the Issuers and the Guarantors shall file promptly an appropriate amendment to such Registration Statement, in the case of clause (A), correcting any such
misstatement or omission, and, in the case of either clause (A) or (B), use its commercially reasonable efforts to cause such amendment to be declared effective and such Registration Statement and the related Prospectus to become usable for
their intended purpose(s) as soon as practicable thereafter; 
 (ii) prepare and file with the Commission such amendments and
post-effective amendments to the applicable Registration Statement as may be necessary to keep the Registration Statement effective for the applicable period set forth in Section 3 or 4 hereof, as applicable, or such shorter
period as set forth in this Agreement; cause the Prospectus to be supplemented by any required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the Securities Act, and to comply fully with the applicable
provisions of Rules 424 and 430A under the Securities Act in a timely manner; and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such Registration Statement during the applicable period
in accordance with the intended method or methods of distribution by the sellers thereof set forth in such Registration Statement or supplement to the Prospectus; 

(iii) advise the underwriter(s), if any, and selling Holders promptly and, if requested by such Persons, to confirm such advice
in writing, (A) when the Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to any Registration Statement or any post-effective amendment thereto, when the same has become effective,
(B) of any request by the Commission for amendments to the Registration Statement or amendments or supplements to the Prospectus or for additional information relating thereto, (C) of the issuance by the Commission of any stop order
suspending the effectiveness of the Registration Statement under the Securities Act or of the suspension by any state securities commission of the qualification of the Transfer Restricted Securities for offering or sale in any jurisdiction, or the
initiation of any proceeding for any of the preceding purposes, (D) of the existence of any fact or the happening of any event that makes any statement of a material fact made in the Registration Statement, the Prospectus, any amendment or
supplement thereto, or any document incorporated by reference therein untrue, or that requires the making of any additions to or changes in the Registration Statement or the Prospectus in order to make

  
 9 

 
the statements therein (with respect to the Prospectus, in the light of the circumstances under which they were made) not misleading. If at any time the Commission shall issue any stop order
suspending the effectiveness of the Registration Statement, or any state securities commission or other regulatory authority shall issue an order suspending the qualification or exemption from qualification of the Transfer Restricted Securities
under state securities or blue sky laws, each of the Issuers and the Guarantors shall use its commercially reasonable efforts to obtain the withdrawal or lifting of such order at the earliest possible time; 

(iv) furnish without charge to each selling Holder named in any Registration Statement, and each of the underwriter(s), if any,
before filing with the Commission, copies of any Registration Statement or any Prospectus included therein or any amendments or supplements to any such Registration Statement or Prospectus (including all documents incorporated by reference after the
initial filing of such Registration Statement), which documents will be subject to the review and comment of such Holders and underwriter(s) in connection with such sale, if any, for a period of at least two Business Days; and not file any such
Registration Statement or Prospectus or any amendment or supplement to any such Registration Statement or Prospectus (including all such documents incorporated by reference) to which an Initial Investor then owning Transfer Restricted Securities
covered by such Registration Statement or the underwriter(s), if any, shall reasonably object in writing within two Business Days after the receipt thereof (such objection to be deemed timely made upon confirmation of telecopy transmission within
such period); provided, that this clause (iv) shall not apply to any filing by the Company of any annual report on Form 10-K, quarterly report on Form 10-Q or Current Report on Form 8-K with respect to matters unrelated to the Transfer
Restricted Securities and the offering or exchange therefor. 
 (v) in the case of a Shelf Registration Statement, make
available during normal business hours for inspection by the managing underwriter(s), if any, participating in any disposition pursuant to such Shelf Registration Statement and any attorney or accountant retained by any of the underwriter(s), all
financial and other records, pertinent corporate documents and properties of each of the Issuers and the Guarantors and cause the Issuers’ and the Guarantors’ officers, directors and employees to supply all information reasonably requested
by any such underwriter, attorney or accountant in connection with such Shelf Registration Statement or any post-effective amendment thereto subsequent to the filing thereof and prior to its effectiveness and to participate in meetings with
investors to the extent requested by the managing underwriter(s), if any; 
 (vi) in the case of a Shelf Registration
Statement, if requested by any selling Holders or the underwriter(s), if any, promptly incorporate in such Registration Statement or Prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such selling
Holders and underwriter(s), if any, may reasonably request to have included therein, including, without limitation, information relating to the “Plan of Distribution” of the Transfer Restricted Securities, information with respect to the
principal amount of Transfer Restricted Securities being sold to such underwriter(s), the purchase price being paid therefor and any other terms of the offering of the Transfer Restricted Securities to be sold in such offering; and make all required
filings of such 

  
 10 

 
Prospectus supplement or post-effective amendment as soon as practicable after the Issuers are notified of the matters to be incorporated in such Prospectus supplement or post-effective
amendment; 
 (vii) in the case of a Shelf Registration Statement, furnish to each selling Holder and each of the
underwriter(s), if any, without charge, at least one copy of such Shelf Registration Statement, as first filed with the Commission, and of each amendment thereto, including, if they so request, financial statements and schedules, all documents
incorporated by reference therein and all exhibits (including exhibits incorporated therein by reference); 
 (viii) deliver
to each selling Holder and each of the underwriter(s), if any, without charge, as many copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Persons reasonably may request; each of the
Issuers and the Guarantors hereby consents to the use of the Prospectus and any amendment or supplement thereto by each of the selling Holders and each of the underwriter(s), if any, in connection with the offering and the sale of the Transfer
Restricted Securities covered by the Prospectus or any amendment or supplement thereto; 
 (ix) in the case of a Shelf
Registration Statement, enter into such agreements (including an underwriting agreement), and make such representations and warranties, and take all such other actions in connection therewith in order to expedite or facilitate the disposition of the
Transfer Restricted Securities pursuant to any Shelf Registration Statement contemplated by this Agreement, all to such extent as may be requested by any Holder of Transfer Restricted Securities or underwriter in connection with any sale or resale
pursuant to any Shelf Registration Statement contemplated by this Agreement; and whether or not an underwriting agreement is entered into and whether or not the registration is an Underwritten Registration, each of the Issuers and the Guarantors
shall: 
 (A) furnish to each Investor, selling Holder and each underwriter, if any, in such substance and scope as they may
reasonably request and as are customarily made by issuers to underwriters in primary underwritten offerings, upon the effectiveness of the Shelf Registration Statement: 

(1) a certificate, dated the date of effectiveness of the Shelf Registration Statement signed by the Chief Executive Officer
and the Chief Financial Officer of each of the Issuers and the Guarantors, confirming, as of the date thereof, such matters as such parties may reasonably request; 

(2) an opinion, dated the date of effectiveness of the Shelf Registration Statement, as the case may be, of counsel for the
Issuers and the Guarantors, covering such matters as such parties may reasonably request, and in any event including a statement to the effect that such counsel has participated in conferences with officers and other representatives of the Issuers
and the Guarantors, representatives of the independent public accountants for the Issuers and the Guarantors, 

  
 11 

 
representatives of the underwriter(s), if any, and counsel to the underwriter(s), if any, at which the contents of such Shelf Registration Statement and the related Prospectus were discussed and
although such counsel has not independently verified the accuracy, completeness or fairness of such statements; and that such counsel advises that, on the basis of the foregoing, no facts came to such counsel’s attention that caused such
counsel to believe that the Shelf Registration Statement, at the time such Shelf Registration Statement became effective contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary
to make the statements therein not misleading, or that the Prospectus contained in such Registration Statement as of its date contained an untrue statement of a material fact or omitted to state a material fact necessary in order to make the
statements therein, in light of the circumstances under which they were made, not misleading. Without limiting the foregoing, such counsel may state further that such counsel assumes no responsibility for, and has not independently verified, the
accuracy, completeness or fairness of the oil and gas reserve and production information or the financial statements, notes and schedules and other financial, accounting, reserve or statistical data included in any Shelf Registration Statement
contemplated by this Agreement or the related Prospectus; 
 (3) a customary comfort letter, dated the date of effectiveness
of the Shelf Registration Statement, from the Company’s independent accountants and the other independent accountants who have certified audited financial statements contained in or incorporated by reference into the Shelf Registration
Statement, in the customary form and covering matters of the type customarily requested to be covered in accountants’ comfort letters by underwriters in connection with primary underwritten offerings, provided that to be an addressee of the
comfort letter, if requested by the applicable accountant, each Initial Investor and Holder may be required to confirm that it is in the category of persons to whom a comfort letter may be delivered in accordance with applicable accounting
literature; and 
 (4) a customary comfort letter, dated the date of effectiveness of the Shelf Registration Statement, from
the Company’s independent petroleum engineers whose reports are referenced in the Shelf Registration Statement or any document incorporated by reference into the Shelf Registration Statement, in the customary form and covering matters of the
type customarily requested to be covered in reserve engineers’ comfort letters by underwriters in connection with primary underwritten offerings; 

(B) set forth in full or incorporate by reference in the underwriting agreement, if any, the indemnification provisions and
procedures of Section 8 hereof with respect to all parties to be indemnified pursuant to said Section; and 

  
 12 

 (C) deliver such other documents and certificates as may be reasonably requested
by such parties to evidence compliance with Section 6(c)(ix)(A) hereof and with any customary conditions contained in the underwriting agreement or other agreement entered into by the Issuers or any of the Guarantors pursuant to this
Section 6(c)(ix), if any. 
 If at any time the representations and warranties of the Issuers and the Guarantors
contemplated in Section 6(c)(ix)(A)(1) hereof cease to be true and correct, the Issuers or the Guarantors shall so advise the Investors and the underwriter(s), if any, and each selling Holder promptly and, if requested by such Persons,
shall confirm such advice in writing; 
 (x) prior to any public offering of Transfer Restricted Securities pursuant to a
Shelf Registration Statement, cooperate with the selling Holders, the underwriter(s), if any, and their respective counsel in connection with the registration and qualification of the Transfer Restricted Securities under the state securities or blue
sky laws of such jurisdictions as the selling Holders or underwriter(s), if any, may reasonably request and do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Transfer Restricted
Securities covered by the Shelf Registration Statement; provided, however, that none of the Issuers nor the Guarantors shall be required to register or qualify as a foreign entity where it is not then so qualified or to take any action
that would subject it to the service of process in suits or to taxation in any jurisdiction where it is not then so subject; 

(xi) issue, in connection with the Consummation of the Exchange Offer and in accordance with the Indenture, Exchange Securities
having an aggregate principal amount equal to the aggregate principal amount of Initial Securities surrendered to the Issuers by such Holder in exchange therefor; 

(xii) cooperate with the selling Holders and the underwriter(s), if any, to facilitate the timely preparation and delivery of
certificates representing Transfer Restricted Securities to be sold and not bearing any restrictive legends; and enable such Transfer Restricted Securities to be in such denominations and registered in such names as the Holders or the
underwriter(s), if any, may request at least two Business Days prior to any sale of Transfer Restricted Securities made by such Holders or underwriter(s); 

(xiii) use its commercially reasonable efforts to cause the Transfer Restricted Securities covered by the Registration
Statement to be registered with or approved by such domestic other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter(s), if any, to consummate the disposition of such Transfer
Restricted Securities, subject to the proviso contained in Section 6(c)(x) hereof; 
 (xiv) if any fact or event
contemplated by Section 6(c)(iii)(D) hereof shall exist or have occurred, prepare a supplement or post-effective amendment to the Registration Statement or related Prospectus or any document incorporated therein by reference or file any
other required document so that, as thereafter delivered to the purchasers of Transfer 

  
 13 

 
Restricted Securities, the Prospectus will not contain an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading; 
 (xv) provide a CUSIP number for all Exchange Securities not
later than the effective date of the Registration Statement covering such Exchange Securities and provide the Trustee under the Indenture with certificates for such Exchange Securities which are in a form eligible for deposit with The Depository
Trust Company and take all other action necessary to ensure that all such Exchange Securities are eligible for deposit with The Depository Trust Company; 

(xvi) cooperate and assist in any filings required to be made with FINRA and in the performance of any due diligence
investigation by any underwriter (including any “qualified independent underwriter” as that term is defined within the rules and regulations of FINRA) that is required to be retained in accordance with the rules and regulations of FINRA;

 (xvii) otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the
Commission, and make generally available to its security holders, as soon as practicable, a consolidated earnings statement meeting the requirements of Rule 158 under the Securities Act (which need not be audited) for the twelve-month period
(A) commencing at the end of any fiscal quarter in which Transfer Restricted Securities are sold to underwriters in a firm commitment or best efforts Underwritten Offering or (B) if not sold to underwriters in such an offering, beginning
with the first month of the Company’s first fiscal quarter commencing after the effective date of the Registration Statement; 

(xviii) cause the Indenture to be qualified under the Trust Indenture Act not later than the effective date of the first
Registration Statement required by this Agreement, and, in connection therewith, cooperate with the Trustee and the Holders of the Initial Securities to effect such changes to the Indenture as may be required for such Indenture to be so qualified in
accordance with the terms of the Trust Indenture Act; and to execute and use its commercially reasonable efforts to cause the Trustee to execute, all documents that may be required to effect such changes and all other forms and documents required to
be filed with the Commission to enable such Indenture to be so qualified in a timely manner; and 
 (xix) in the case of a
Shelf Registration Statement, cause all Transfer Restricted Securities covered by the Shelf Registration Statement to be listed on each securities exchange or automated quotation system on which similar securities issued by the Company are then
listed if requested by the Holders of a majority in aggregate principal amount of Initial Securities or the managing underwriter(s), if any. 

Each Holder agrees by acquisition of a Transfer Restricted Security that, upon receipt of any notice from the Company of the existence of any
fact of the kind described in Section 6(c)(iii)(C) or (D) hereof or any Blackout Period described in Section 4(a) hereof, such Holder will forthwith discontinue disposition of Transfer Restricted Securities
pursuant to the 

  
 14 

 
applicable Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xiv) hereof, or until it is
advised in writing (the “Advice”) by the Company that the use of the Prospectus may be resumed, and has received copies of any additional or supplemental filings that are incorporated by reference in the Prospectus. If so
directed by the Company, each Holder will deliver to the Issuers (at the Company’s expense) all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Transfer Restricted Securities that
was current at the time of receipt of such notice. In the event the Company shall give any such notice, the time period regarding the effectiveness of such Registration Statement set forth in Section 3 or 4 hereof, as applicable,
shall be extended by the number of days during the period from and including the date of the giving of such notice pursuant to Section 6(c)(iii)(C) or (D) hereof or notice of any Blackout Period to and including the date when
each selling Holder covered by such Registration Statement shall have received the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xiv) hereof or shall have received the Advice. 

SECTION 7. Registration Expenses. 

(a) All expenses incident to the Issuers’ and the Guarantors’ performance of or compliance with this Agreement will be borne by the
Issuers and the Guarantors, jointly and severally, regardless of whether a Registration Statement becomes effective, including, without limitation: (i) all registration and filing fees and expenses (including filings made by any Initial
Investor or Holder with the FINRA (and, if applicable, the fees and expenses of any “qualified independent underwriter” and its counsel that may be required by the rules and regulations of FINRA)); (ii) all fees and expenses of
compliance with federal securities and state securities or blue sky laws; (iii) all expenses of printing (including printing of Prospectuses), if any, messenger and delivery services and telephone; (iv) all fees and disbursements of
counsel for the Issuers and the Guarantors and, subject to Section 7(b) hereof, the Holders of Transfer Restricted Securities; and (v) all fees and disbursements of independent certified public accountants of the Issuers and the
Guarantors (including the expenses of any special audit and comfort letters required by or incident to such performance); but excluding fees and expenses of counsel to the Investors or Holders (other than the reasonable fees and expenses of not more
than one counsel as described in Section 7(b) hereof) and underwriting discounts and commissions, brokerage commissions and transfer taxes, if any, relating to the sale or disposition by a Holder of Transfer Restricted Securities being
registered pursuant to a Shelf Registration Statement. 
 Each of the Issuers and the Guarantors will, in any event, bear its internal
expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expenses of any annual audit and the fees and expenses of any Person, including special experts, retained by
the Issuers or the Guarantors. 
 (b) In connection with any Shelf Registration Statement required by this Agreement, the Issuers and the
Guarantors, jointly and severally, will reimburse the Investors and the Holders of Transfer Restricted Securities being registered pursuant to the Shelf Registration Statement, as applicable, for the reasonable fees and disbursements of not more
than one counsel, who shall be Simpson Thacher & Bartlett LLP or such other counsel as may be chosen by the Holders of a majority in principal amount of the Transfer Restricted Securities for whose benefit such Registration Statement is
being prepared. 

  
 15 

 SECTION 8. Indemnification. 

(a) The Issuers and the Guarantors, jointly and severally, agree to indemnify and hold harmless (i) each Holder and (ii) each Person,
if any, who controls (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) any such Holder (any of the Persons referred to in this clause (ii) being hereinafter referred to as a
“controlling person”) and (iii) the respective officers, directors, partners, employees, representatives and agents of any Holder or any controlling person (any Person referred to in clause (i), (ii) or
(iii) may hereinafter be referred to as an “Indemnified Holder”), to the fullest extent lawful, from and against any and all losses, claims, damages or liabilities (or actions in respect thereof) (including, without
limitation, and as incurred, reimbursement of each such Indemnified Holder for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action), joint or
several, directly or indirectly arising out of or based upon any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or Prospectus (or any amendment or supplement thereto), or any omission or
alleged omission to state therein a material fact required to be stated therein (in the case of the Registration Statement or any amendment or supplement thereto) or necessary to make the statements therein (with respect to the Prospectus, in the
light of the circumstances under which they were made) not misleading, except insofar as such losses, claims, damages, liabilities or actions are caused by an untrue statement or omission or alleged untrue statement or omission that is made in
reliance upon and in conformity with information relating to any of the Holders furnished in writing to the Company by any of the Holders expressly for use therein. This indemnity agreement shall be in addition to any liability that the Issuers or
any of the Guarantors may otherwise have. 
 In case any action or proceeding (including any governmental or regulatory investigation or
proceeding) shall be brought or asserted against any of the Indemnified Holders with respect to which indemnity may be sought against any Issuer or Guarantor, such Indemnified Holder (or the Indemnified Holder controlled by such controlling person)
shall promptly notify the Issuers and the Guarantors in writing; provided, however, that the failure to give such notice shall not relieve any of the Issuers or the Guarantors of its obligations pursuant to this Agreement. Such
Indemnified Holder shall have the right to employ its own counsel in any such action and the fees and expenses of such counsel shall be paid, as incurred, by the Issuers and the Guarantors (regardless of whether it is ultimately determined that an
Indemnified Holder is not entitled to indemnification hereunder). The Issuers and the Guarantors shall not, in connection with any one such action or proceeding or separate but substantially similar or related actions or proceedings 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 any local counsel) at any time for such Indemnified Holders, which
firm shall be designated by the Holders. The Issuers and the Guarantors shall be liable for any settlement of any such action or proceeding effected with the Issuers’ and the Guarantors’ prior written consent and each of the Issuers and
the Guarantors agrees to indemnify and hold harmless any Indemnified Holder from and against any loss, claim, damage, liability or action by reason of any settlement of any action effected with the written consent of the Issuers and the Guarantors.
The Issuers and the Guarantors shall not, without the prior written consent of each Indemnified Holder settle or compromise or consent to the entry of judgment in or otherwise seek to terminate any pending or threatened action, claim, litigation or
proceeding in respect of which 

  
 16 

 
indemnification or contribution may be sought hereunder (whether or not any Indemnified Holder is a party thereto), unless (i) such settlement, compromise, consent or termination includes an
unconditional release of each Indemnified Holder from all liability arising out of such action, claim, litigation or proceeding and (ii) does not include any statements as to or findings of fact or admissions of fault or culpability as to any
indemnified party. 
 (b) Each Holder of Transfer Restricted Securities agrees, severally and not jointly, to indemnify and hold harmless
the Issuers, the Guarantors and their respective directors and officers of the Issuers and the Guarantors who sign a Registration Statement, and any Person controlling (within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act) any Issuer or any Guarantor, and the respective officers, directors, partners, employees, representatives and agents of each such Person, to the same extent as the foregoing indemnity from the Issuers and the Guarantors to each
of the Indemnified Holders, but only with respect to claims and actions based on information relating to such Holder furnished in writing by such Holder expressly for use in any Registration Statement or Prospectus. In case any action or proceeding
shall be brought against the Issuers, the Guarantors or their respective directors or officers or any such controlling person in respect of which indemnity may be sought against a Holder of Transfer Restricted Securities, such Holder shall have the
rights and duties given the Issuers and the Guarantors, and the Issuers, the Guarantors, their respective directors and officers and such controlling person shall have the rights and duties given to each Holder by the preceding paragraph. 

(c) If the indemnification provided for in this Section 8 is unavailable to an indemnified party under Section 8(a) or
(b) hereof (other than by reason of exceptions provided in those Sections) in respect of any losses, claims, damages, liabilities or actions referred to therein, then each applicable indemnifying party, in lieu of indemnifying such
indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities in such proportion as is appropriate to reflect the relative benefits received by the Issuers and
the Guarantors, on the one hand, and the Holders, on the other hand, from the Initial Placement, the amount of Additional Interest which did not become payable as a result of the filing of the Registration Statement resulting in such losses, claims,
damages or liabilities, and such Registration Statement, or if such allocation is not permitted by applicable law, the relative fault of the Issuers and the Guarantors, on the one hand, and the Holders, on the other hand, in connection with the
statements or omissions which resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative fault of the Issuers and the Guarantors on the one hand and of the Indemnified Holder on the
other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Issuers or any of
the Guarantors, on the one hand, or the Indemnified Holders, on the other hand, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The amount paid or payable by a
party as a result of the losses, claims, damages, liabilities or actions referred to above shall be deemed to include, subject to the limitations set forth in the second paragraph of Section 8(a) hereof, any legal or other fees or
expenses reasonably incurred by such party in connection with investigating or defending any action or claim. 

  
 17 

 The Issuers, the Guarantors and each Holder of Transfer Restricted Securities agree that it would
not be just and equitable if contribution pursuant to this Section 8(c) were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation which does not take
account of the equitable considerations referred to in the immediately preceding paragraph. The amount paid or payable by an indemnified party as a result of the losses, claims, damages, liabilities or actions referred to in the immediately
preceding paragraph shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim.
Notwithstanding the provisions of this Section 8, none of the Holders (and its related Indemnified Holders) shall be required to contribute, in the aggregate, any amount in excess of the amount by which the total discount received by
such Holder with respect to the Initial Securities (and, if applicable, from sales of Transfer Restricted Securities pursuant to a Shelf Registration Statement) exceeds the amount of any damages which such Holder has otherwise been required to pay
by reason of such untrue or alleged untrue statement or omission or alleged 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 fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(c) are several in proportion to the respective principal amount of Initial Securities held by each of the
Holders hereunder and not joint. 
 SECTION 9. Rule 144 and 144A Information. The Company shall use its commercially reasonable
efforts to file the reports required to be filed by it under the Securities Act and the Exchange Act in a timely manner and, if at any time the Company is not required to file such reports, it will, upon the request of any Holder of Initial
Securities, make publicly available other information so long as necessary to permit sales of their securities pursuant to Rules 144 and 144A under the Securities Act. The Issuers and the Guarantors agree that they will take such further action as
any Holder of Initial Securities may reasonably request, all to the extent required from time to time to enable such Holder to sell Initial Securities without registration under the Securities Act within the limitation of the exemptions provided by
Rules 144 and 144A under the Securities Act (including the requirements of Rule 144A(d)(4)). The Issuers and the Guarantors, upon request by the Initial Investors, will provide a copy of this Agreement to prospective purchasers of Initial Securities
identified to the Issuers and the Guarantors by the Initial Investors. Upon the request of any Holder of Initial Securities, the Issuers shall deliver to such Holder a written statement as to whether it has complied with such requirements.
Notwithstanding the foregoing, nothing in this Section 9 shall be deemed to require the Issuers to register any of their securities pursuant to the Exchange Act. 

SECTION 10. Participation in Underwritten Registrations. No Holder may participate in any Underwritten Registration hereunder unless
such Holder (a) agrees to sell such Holder’s Transfer Restricted Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (b) completes and executes
all reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up letters and other documents required under the terms of such underwriting arrangements. 

SECTION 11. Selection of Underwriters. The Holders of Transfer Restricted Securities covered by the Shelf Registration Statement who
desire to do so may sell such Transfer 

  
 18 

 
Restricted Securities in an Underwritten Offering. In any such Underwritten Offering, the investment banker(s) and managing underwriter(s) that will administer such offering will be selected by
the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities included in such offering; provided, however, that such investment banker(s) and managing underwriter(s) must be reasonably satisfactory to
the Issuers. 
 SECTION 12. Miscellaneous. 

(a) Remedies. Each of the Issuers and the Guarantors hereby agrees that monetary damages would not be adequate compensation for any loss
incurred by reason of a breach by it of the provisions of this Agreement and hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate. 

(b) No Inconsistent Agreements. Each of the Issuers and the Guarantors will not on or after the date of this Agreement enter into any
agreement with respect to its securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. The rights granted to the Holders hereunder do not in any way conflict with and
are not inconsistent with the rights granted to the holders of the Issuers’ or any of the Guarantors’ securities under any agreement in effect on the date hereof. 

(c) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents to
or departures from the provisions hereof may not be given unless the Issuers have (i) in the case of Section 5 hereof and this Section 12(c)(i), obtained the written consent of Holders of all outstanding Transfer
Restricted Securities and (ii) in the case of all other provisions hereof, obtained the written consent of Holders of a majority of the outstanding principal amount of Transfer Restricted Securities (excluding any Transfer Restricted Securities
held by the Issuers or their respective Affiliates). Notwithstanding the foregoing, a waiver or consent to departure from the provisions hereof that relates exclusively to the rights of Holders whose securities are being tendered pursuant to the
Exchange Offer or included on a Shelf Registration Statement and that does not affect directly or indirectly the rights of other Holders whose securities are not being tendered pursuant to such Exchange Offer or included in such Shelf Registration
Statement may be given by the Holders of a majority of the outstanding principal amount of Transfer Restricted Securities being tendered or registered, as the case may be; provided, however, that, with respect to any matter that
directly or indirectly affects the rights of any Initial Investor hereunder, the Issuers shall obtain the written consent of each such Initial Investor with respect to which such amendment, qualification, supplement, waiver, consent or departure is
to be effective. 
 (d) Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by
hand-delivery, first-class mail (registered or certified, return receipt requested), telex, telecopier, or air courier guaranteeing overnight delivery: 

(i) if to a Holder, at the address set forth on the records of the Trustee under the Indenture, with a copy to the Trustee
under the Indenture; 

  
 19 

 (ii) if to the Issuers: 

Linn Energy, LLC 
 600 Travis
Street, Suite 5100 
 Houston, Texas 77002 

Facsimile: (281) 840-4180 

Attention: General Counsel 
 with
a copy to (which shall not constitute notice): 
 Baker Botts L.L.P. 

One Shell Plaza 
 910 Louisiana
Street 
 Houston, Texas 77002 

Facsimile: (713) 229-7996 

Attention: Kelly Brunetti Rose 

All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five
Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if telecopied; and on the next Business Day, if timely delivered to an air courier guaranteeing overnight
delivery. 
 Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to
the Trustee at the address specified in the Indenture. 
 (e) Successors and Assigns. This Agreement shall inure to the benefit of
and be binding upon the successors and assigns of each of the parties, including, without limitation, and without the need for an express assignment, subsequent Holders of Transfer Restricted Securities; provided, however, that this
Agreement shall not inure to the benefit of or be binding upon a successor or assign of a Holder unless and to the extent such successor or assign acquired Transfer Restricted Securities from such Holder. 

(f) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each
of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

(g) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning
hereof 
 (h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO THE CONFLICTS OF LAW RULES THEREOF. 
 (i) Severability. In the event that any one or more of the provisions
contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein
shall not be affected or impaired thereby. 

  
 20 

 (j) Entire Agreement. This Agreement is intended by the parties as a final expression of
their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other
than those set forth or referred to herein with respect to the registration rights granted by the Issuers with respect to the Transfer Restricted Securities. This Agreement supersedes all prior agreements and understandings among the parties with
respect to such subject matter. 
 [Signature Pages Follow] 

  
 21 

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

  

			
	ISSUERS
	
	Linn Energy, LLC
	Linn Energy Finance Corp.
		
	By:	 	  

	Name:	 	David B. Rottino
	Title:	 	Executive Vice President and
		 	Chief Financial Officer
	
	GUARANTORS
	
	Linn Energy Holdings, LLC
	Linn Exploration Midcontinent, LLC
	Linn Exploration & Production Michigan LLC
	Linn Midstream, LLC (Delaware)
	Linn Midwest Energy LLC
	Linn Operating, Inc.
	Mid-Continent I, LLC
	Mid-Continent II, LLC
	Mid-Continent Holdings I, LLC
	Mid-Continent Holdings II, LLC
		
	By:	 	  

	Name:	 	David B. Rottino
	Title:	 	Executive Vice President and
		 	Chief Financial Officer

  
 Signature Page to
Registration Rights Agreement 

 The foregoing Registration Rights Agreement is hereby confirmed and accepted as of the date first
above written: 
  

			
	For itself and on behalf of the respective funds or accounts listed on Exhibit A to the Exchange Agreement to which such Undersigned is a party
	
	By: [●]
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 Signature Page to
Registration Rights Agreement 

 SCHEDULE A 

GUARANTORS 
  

			
	 Name
	  	Jurisdiction of Formation
	 Linn Energy Holdings, LLC
	  	Delaware
	 Linn Exploration Midcontinent, LLC
	  	Oklahoma
	 Linn Exploration & Production Michigan LLC
	  	Delaware
	 Linn Midstream, LLC (Delaware)
	  	Delaware
	 Linn Midwest Energy LLC
	  	Delaware
	 Linn Operating, Inc.
	  	Delaware
	 Mid-Continent I, LLC
	  	Delaware
	 Mid-Continent II, LLC
	  	Delaware
	 Mid-Continent Holdings I, LLC
	  	Delaware
	 Mid-Continent Holdings II, LLC
	  	Delaware

  
 Schedule A

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00252-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00252-of-00352.parquet"}]]