Document:

Form of Registration Rights Agreement

 Exhibit 10.10 
 REGISTRATION RIGHTS AGREEMENT 
 BY AND BETWEEN 

SANDRIDGE MISSISSIPPIAN TRUST I 
 AND 
 SANDRIDGE ENERGY, INC., 

DATED AS OF
[                    ], 2011 

 This Registration Rights Agreement (the “Agreement”) is made and entered
into as of [                    ], 2011, by and between SandRidge Mississippian Trust I, a statutory trust formed under the laws of the State of
Delaware (the “Trust”), and SandRidge Energy, Inc. (“SandRidge”), a Delaware corporation. 

WHEREAS, in connection with the initial public offering of common units of beneficial interests of the Trust, the Trust has agreed
to file a registration statement or registration statements relating to the sales by SandRidge and its Transferees of certain of the Trust Units (as each capitalized term is defined below). 

NOW, THEREFORE, in consideration of the premises and the covenants hereinafter contained and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, it is agreed as follows: 
 SECTION 1. Definitions. As used in this Agreement, the following terms shall have the following meanings: 
 “Affiliate” means with respect to a specified person, any person that directly or indirectly controls, is controlled by, or is under common control with, the specified person. As used in
this definition, the term “control” (and the correlative terms “controlling,” “controlled by,” and “under common control”) shall mean the possession, directly or indirectly, of the right or power to direct or
cause the direction of the management and policies of a person, whether through ownership of voting securities, by contract or otherwise. 
 “Agreement” has the meaning set forth in the introductory paragraph hereof. 
 “Business Day” means any day that is not a Saturday, Sunday, a holiday determined by the New York Stock Exchange, Inc., as “affecting ‘ex’ dates” or any other day on
which national banking institutions in New York, New York are closed. 
 “Common Units” has the meaning set
forth in the Trust Agreement. 
 “Deferral Notice” has the meaning set forth in Section 3(j) hereof.

 “Deferral Period” has the meaning set forth in Section 3(j) hereof. 

“Demand Notice” has the meaning set forth in Section 2(a) hereof. 

“Demand Registration” has the meaning set forth in Section 2(a) hereof. 

“Demanding Qualified Holder(s)” shall mean, with respect to any Demand Registration, the Qualified Holder(s) delivering
the relevant Demand Notice. 
 “Effective Period” means the period commencing on the 180th
day after the date hereof and ending on the date that all Registrable Securities have ceased to be Registrable Securities. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated by the
SEC thereunder. 

 “Expenses” has the meaning set forth in Section 6(a) hereof.

 “Indemnified Party” has the meaning set forth in Section 6(d) hereof. 

“Indemnifying Party” has the meaning set forth in Section 6(d) hereof. 

“Material Event” has the meaning set forth in Section 3(j) hereof. 

“Notice” has the meaning set forth in Section 2(d) hereof. 

“person” shall mean any individual, partnership, limited liability company, corporation, trust, unincorporated
association, governmental body or other entity, organization or association. 
 “Prospectus” means the
prospectus included in any Registration Statement (including a prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A, Rule 430B or
Rule 430C promulgated under the Securities Act), as amended or supplemented by any amendment, prospectus supplement or free writing prospectus (as defined in Rule 405 promulgated under the Securities Act), including post-effective
amendments, and all materials incorporated by reference or explicitly deemed to be incorporated by reference in such Prospectus. 
 “Qualified Holder” shall mean SandRidge and any Transferee of SandRidge to whom Registrable Securities are permitted to be transferred in accordance with the terms of this Agreement and,
in each case, who continues to be entitled to the rights of a Qualified Holder hereunder. 
 “Registrable
Securities” means the Trust Units held by the Qualified Holders and any securities into or for which such Trust Units have been converted or exchanged, and any security issued with respect thereto upon any dividend, split or similar event
until, in the case of any such Trust Units or other security, the earliest of (i) its effective registration under the Securities Act and resale in accordance with the Registration Statement covering it, (ii) its disposal pursuant to
Rule 144 (or any similar provision then in force) under the Securities Act, (iii) its sale in a private transaction in which the transferor’s rights under this Agreement are not assigned to the transferee of the securities,
(iv) its being held by the Trust, (v) 10 years after a Qualified Holder of such security ceases to be an Affiliate of the Trust or (vi) if such security has been sold in a private transaction in which the transferor’s rights
under this Agreement are assigned to the transferee and such transferee is not an Affiliate of the Trust, the time that is one year following the transfer of such security to such transferee. 

“Registration Statement” means any registration statement of the Trust, including any Shelf Registration Statement, that
covers any of the Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all exhibits and all materials
incorporated by reference or deemed to be incorporated by reference in such registration statement. 
 “Required
Information” has the meaning set forth in Section 4(a) hereof. 

  
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 “Rule 144” means Rule 144 under the Securities Act, as such Rule
may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC. 

“Rule 144A” means Rule 144A under the Securities Act, as such Rule may be amended from time to time, or any
similar rule or regulation hereafter adopted by the SEC. 
 “SandRidge” has the meaning set forth in the
introductory paragraph hereof. 
 “SEC” means the U.S. Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated by the SEC
thereunder. 
 “Shelf Registration Statement” means a Registration Statement for an offering to be made on a
delayed or continuous basis pursuant to Rule 415 under the Securities Act (as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC) registering the resale of Registrable Securities from time
to time by any Qualified Holder. 
 “Special Counsel” means Covington & Burling LLP or such other
successor counsel as shall be specified in writing by Qualified Holders holding a majority of all Registrable Securities. 

“Subordinated Units” has the meaning set forth in the Trust Agreement. 

“Transferee” means any person or group of persons that purchases any Registrable Securities from SandRidge or otherwise
holds any Registrable Securities as a result of any sale, liquidation, dividend or distribution by SandRidge or any of its Affiliates; provided, that such person or group (i) agrees to be designated as a transferee hereunder,
(ii) is specifically designated as a transferee hereunder in writing by SandRidge to the Trust (iii) holds Registrable Securities representing at least 100,000 of the then-outstanding Registrable Securities and (iv) in the case of a
group, such group shall collectively agree to constitute a single transferee for purposes of this Agreement (including for purposes of exercising any Demand Registration right transferred by SandRidge to such group). 

“Trust” has the meaning set forth in the introductory paragraph hereof. 

“Trust Agreement” means that certain Amended and Restated Trust Agreement of the Trust, dated as of the date hereof.

 “Trust Units” means Common Units and Subordinated Units. 

“Trustee” means The Bank of New York Mellon Trust Company, N.A., a national banking association organized under the laws
of the United States of America with its principal place of business in New York, New York, as trustee, acting not in its individual capacity but solely as trustee of the Trust. 

SECTION 2. Demand Registration Rights. 

  
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 (a) During the Effective Period, a Qualified Holder shall have the right, by
delivering a written notice to the Trust (the “Demand Notice”), to require the Trust to register, pursuant to the terms of this Agreement and in accordance with the provisions of the Securities Act, the number of Registrable
Securities requested to be so registered (a “Demand Registration”). A Demand Notice must specify the number of Registrable Securities to be registered and the Qualified Holder’s intended method of disposition thereof.

 (b) The Qualified Holders shall be entitled to up to five Demand Registrations. Notwithstanding any other
provision of this Section 2, in no event shall more than one Demand Registration occur during any six-month period (measured from the effective date of the Registration Statement to the date of the next Demand Notice). 

(c) No Demand Registration shall be deemed to have occurred for purposes of this Section 2 if the Registration
Statement relating thereto does not become effective, or its effectiveness is not maintained, for the period required pursuant to Section 2(e), in which case the Demanding Qualified Holders shall be entitled to an additional Demand Registration
in lieu thereof. 
 (d) Within ten (10) days after receipt by the Trust of a Demand Notice, the Trust shall
give written notice (the “Notice”) of such Demand Notice to all other Qualified Holders and shall, subject to the provisions of Section 2(f) hereof, include in such registration all Registrable Securities held by such Qualified
Holders with respect to which the Trust received written requests for inclusion therein within ten (10) days after such Notice is given by the Trust to such holders. 

(e) The Trust shall be required to maintain the effectiveness of the Registration Statement with respect to any Demand
Registration for a period of ninety (90) days after the effective date thereof or, in the case of a Shelf Registration Statement, until such time as all Registrable Securities covered by such Shelf Registration Statement have ceased to be
Registrable Securities; provided, that such period shall be extended for a period of time equal to the period the holders of Registrable Securities refrain from selling any securities included in such registration at the request of
(i) an underwriter of the Trust or (ii) the Trust pursuant to this Agreement. 
 (f) If any of the
Registrable Securities registered pursuant to a Demand Registration are to be sold in a firm commitment underwritten offering, and the managing underwriter advises the holders of such securities in writing that in its view the total amount of
securities proposed to be sold in such offering (including securities proposed to be sold by persons other than Demanding Qualified Holders pursuant to incidental or piggyback registration rights) is such as to adversely affect the success of such
offering, then the amount of securities to be offered for the account of Demanding Qualified Holders and for the account of persons other than Demanding Qualified Holders shall be reduced to the extent necessary to reduce the total amount of
securities to be included in such offering to the amount recommended by such managing underwriter by: 
 (i)
First, reducing, or eliminating if necessary, all securities requested to be included by persons other than Demanding Qualified Holders and 

  
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 (ii) Second, if necessary, reducing the Registrable Securities requested to
be included by the Demanding Qualified Holders, pro rata among such Demanding Qualified Holders on the basis of the percentage of the total Registrable Securities requested to be included in such Registration Statement by each such holder.

 In connection with any Demand Registration to which the provisions of this Section 2(f) apply, no
securities other than Registrable Securities shall be covered by such Demand Registration except in accordance with this Section 2(f), and such registration shall not reduce the number of Demand Registrations available to the Qualified Holders
under Section 2(b) if the Registration Statement excludes more than 25% of the aggregate number of Registrable Securities that the Demanding Qualified Holders requested be included. 

(g) The Trust shall be entitled to postpone (but not more than once in any 12-month period), for a reasonable period of
time not in excess of 90 days, the filing of a Registration Statement if the Trust delivers to the Demanding Qualified Holders a certificate signed by the Trust certifying that, in its good faith judgment, it would be detrimental to the Trust
and its unitholders for such Registration Statement to be filed and it therefore would be beneficial to defer the filing of such Registration Statement. If the Trust shall so postpone the filing of a Registration Statement, the Demanding Qualified
Holders shall have the right to withdraw the request for registration by giving written notice to the Trust within 20 days of the anticipated termination date of the postponement period, as provided in the certificate delivered by the Trust,
and in the event of such withdrawal, such request shall not reduce the number of available registrations with respect to the Qualified Holders under this Section 2. 

(h) Whenever the Trust shall effect a Demand Registration pursuant to this Section 2 in connection with an
underwritten offering, no securities other than Registrable Securities shall be covered by such Demand Registration, unless (i) the managing underwriter of such offering shall have advised each holder of Registrable Securities requesting such
registration in writing that it believes that the inclusion of such other securities would not adversely affect such offering or (ii) the inclusion of such other securities is approved by the affirmative vote of the holders of at least a
majority of the Registrable Securities included in such Demand Registration by the Demanding Qualified Holders. 
 SECTION 3.
Registration Procedures. Following receipt of a Demand Notice, the Trust shall: 
 (a) Use its reasonable
best efforts to (i) prepare and file with the SEC, no later than 45 days after receiving the Demand Notice, a Registration Statement or Registration Statements (including, if so requested by the Qualified Holders, a Shelf Registration
Statement), on any appropriate form under the Securities Act available for the sale of the Registrable Securities by the holders thereof in accordance with the intended method or methods of distribution thereof, and (ii) cause each such
Registration Statement to become effective as promptly as practicable after filing and remain effective for the period of time provided in Section 2(e); provided, that before filing any Registration Statement or Prospectus or any
amendments or supplements thereto with the SEC (but excluding reports filed with the SEC under the Exchange Act), the Trust shall furnish to the Qualified Holders, the Special Counsel 

  
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and the managing underwriters, if any, copies of any such document at least three (3) Business Days prior to the filing thereof. 

(b) Subject to Section 3(j), (i) prepare and file with the SEC such amendments and post-effective amendments to
each Registration Statement as may be necessary to keep such Registration Statement continuously effective during the period provided herein with respect to the disposition of all securities covered by such Registration Statement; (ii) cause
the related Prospectus to be supplemented by any required prospectus supplement or free writing prospectus, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) under the Securities Act; and
(iii) use reasonable best efforts to comply with the provisions of the Securities Act applicable to the Trust with respect to the disposition of all securities covered by such Registration Statement during the period provided herein with
respect to the disposition of all securities covered by such Registration Statement in accordance with the intended methods of disposition by the sellers thereof set forth in such Registration Statement as so amended or such Prospectus as so
supplemented. 
 (c) Subject to Section 3(j), as promptly as practicable after the date a Registration
Statement is declared effective and the Required Information is delivered pursuant to Section 4 hereof: 

(i) if required by applicable law, file with the SEC a post-effective amendment to the Registration Statement, a
supplement to the related Prospectus, a supplement or amendment to any document incorporated in the Prospectus by reference and/or any other document required to be filed so that the Qualified Holder delivering such Required Information is named as
a selling securityholder in the Registration Statement and the related Prospectus in such a manner as to permit such Qualified Holder to deliver such Prospectus to purchasers of the Registrable Securities in accordance with applicable law and, if
the Trust shall file a post-effective amendment to the Registration Statement, use reasonable best efforts to cause such post-effective amendment to be declared effective under the Securities Act as promptly as practicable; and 

(ii) provide such Qualified Holder copies of any documents filed pursuant to Section 3(c)(i) and notify such
Qualified Holder as promptly as practicable after the effectiveness under the Securities Act of any post-effective amendment filed pursuant to Section 3(c)(i); provided, that if the Required Information is delivered during a Deferral
Period, the Trust shall so inform the Qualified Holder delivering such Required Information. Notwithstanding anything contained herein to the contrary, the Trust shall be under no obligation to name any Qualified Holder that has failed to deliver
the Required Information in the manner set forth in Section 4 hereof as a selling securityholder in any Registration Statement or related Prospectus. 
 (d) As promptly as practicable, give notice to the Qualified Holders, the Special Counsel and the managing underwriters, if any, (i) when any Prospectus, Registration Statement or post-effective
amendment to a Registration Statement has been filed with the SEC and, with respect to a Registration Statement or any post-effective amendment thereto, when the same has been declared effective, (ii) of any request, following the effectiveness
of any Registration Statement under the Securities Act, by the SEC or any other federal or state 

  
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governmental authority for amendments or supplements to any Registration Statement or related Prospectus, (iii) of the issuance by the SEC or any other federal or state governmental
authority of any stop order suspending the effectiveness of any Registration Statement or the initiation or threatening of any proceedings for that purpose, (iv) of the receipt by the Trust of any notification with respect to the suspension of
the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose, (v) of the occurrence of, but not the nature of or details
concerning, a Material Event and (vi) of the determination by the Trust that a post-effective amendment to a Registration Statement will be filed with the SEC, which notice may, at the discretion of the Trust (or as required pursuant to
Section 3(j)), state that it constitutes a Deferral Notice, in which event the provisions of Section 3(j) shall apply. 
 (e) Use reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement or the lifting of any suspension of the qualification (or exemption from
qualification) of any of the Registrable Securities for sale in any jurisdiction in which they have been qualified for sale, in either case as promptly as practicable, and provide prompt notice to each Qualified Holder of the withdrawal of any such
order. 
 (f) If requested by the managing underwriters, if any, or the Qualified Holders of the Registrable
Securities being sold in connection with an underwritten offering, promptly include in a prospectus supplement or post-effective amendment such information as the managing underwriters, if any, or such Qualified Holders may reasonably request in
order to permit the intended method of distribution of such securities and make all required filings of such prospectus supplement or such post-effective amendment as soon as practicable after the Trust has received such request; provided,
that the Trust shall not be required to take any actions under this Section 3(f) that are not, in the opinion of counsel for the Trust, in compliance with applicable law. 

(g) As promptly as practicable, furnish to each Qualified Holder, the Special Counsel and each managing underwriter, if
any, upon request, at least one (1) conformed copy of the Registration Statement and any amendment thereto, including exhibits and, if requested, all documents incorporated or deemed to be incorporated therein by reference. 

(h) Deliver to each Qualified Holder, the Special Counsel and each managing underwriter, if any, in connection with any
sale of Registrable Securities pursuant to a Registration Statement as many copies of the Prospectus relating to such Registrable Securities (including each preliminary Prospectus) and any amendment or supplement thereto as such persons may
reasonably request. In addition, the Trust hereby consents (except during such periods that a Deferral Notice is outstanding and has not been revoked and subject to Section 3(j)(ii) hereof) to the use of such Prospectus or each such amendment
or supplement thereto by each Qualified Holder and the underwriters, if any, in connection with any offering and sale of the Registrable Securities covered by such Prospectus or any amendment or supplement thereto in the manner set forth therein.

 (i) Use reasonable best efforts to (i) prior to any public offering of the Registrable Securities
pursuant to a Registration Statement, register or qualify or cooperate with 

  
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the Qualified Holders, the Special Counsel and the underwriters, if any, in connection with the registration or qualification (or exemption from such registration or qualification) of such
Registrable Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any Qualified Holder or underwriter reasonably requests in writing (which request may be included with the Required
Information) and (ii) keep each such registration or qualification (or exemption therefrom) effective during the period provided herein with respect to the disposition of all securities covered by such Registration Statement in connection with
such Qualified Holder’s offer and sale of Registrable Securities pursuant to such registration or qualification (or exemption therefrom) and do any and all other acts or things reasonably necessary or advisable to enable the disposition in such
jurisdictions of such Registrable Securities in the manner set forth in the relevant Registration Statement and the related Prospectus; provided, that neither the Trust nor the Trustee shall be required to (i) qualify as a foreign entity
or as a dealer in securities in any jurisdiction where it would not otherwise be required to qualify but for this Agreement or (ii) take any action that would subject it to general service of process or to taxation in any such jurisdiction
where it is not then so subject. 
 (j) Upon (A) the issuance by the SEC of a stop order suspending the
effectiveness of any Registration Statement or the initiation of proceedings with respect to any Registration Statement under Section 8(d) or 8(e) of the Securities Act, (B) the occurrence of any event or the existence of any fact as a
result of which (x) any Registration Statement shall contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading or (y) any
Prospectus shall contain any 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 (each of subclauses
(x) and (y) hereof, a “Material Event”), or (C) the occurrence or existence of any pending development of the Trust that, in the reasonable discretion of the Trust, makes it appropriate to suspend the availability of
any Registration Statement and the related Prospectus: 
 (i) in the case of clause (B) above, subject to
clause (ii) below, as promptly as practicable prepare and file, if necessary pursuant to applicable law, a post-effective amendment to such Registration Statement, a supplement to the related Prospectus, a supplement or amendment to any
document incorporated in the Prospectus by reference and/or any other document required to be filed so that such Registration Statement does not contain any untrue statement of a material fact or omit to state any material fact required to be stated
therein or necessary to make the statements therein not misleading, and such Prospectus does not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading, as thereafter delivered to the purchasers of the Registrable Securities being sold thereunder, and, in the case of a post-effective amendment to a
Registration Statement, subject to clause (ii) below, use reasonable best efforts to cause it to be declared effective as promptly as practicable; 
 (ii) give notice to the Qualified Holders and the Special Counsel, if any, that the availability of any Registration Statement is suspended (a “Deferral Notice”) and, upon receipt of any
Deferral Notice, each Qualified Holder agrees not to sell any Registrable Securities pursuant to the Registration Statement until such Qualified Holder’s receipt of copies 

  
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of the supplemented or amended Prospectus provided for in clause (i) above, or until it is advised in writing by the Trust that the Prospectus may be used, and has received copies of any
additional or supplemental filings that are incorporated or deemed incorporated by reference in such Prospectus, in which case such Qualified Holder will use the Prospectus as so supplemented or amended in connection with any offering and sale of
Registrable Securities covered thereby; and 
 (iii) use reasonable best efforts to ensure that the use of the
Prospectus may be resumed (x) in the case of clause (A) above, as promptly as is practicable, (y) in the case of clause (B) above, as soon as, in the sole judgment of the Trust, public disclosure of such Material Event would not
be prejudicial to or contrary to the interests of the Trust or, if necessary to avoid unreasonable burden or expense, as soon as practicable thereafter, and (z) in the case of clause (C) above, as soon as, in the reasonable discretion of
the Trust, such suspension is no longer appropriate. 
 The time period from the date the Trust sends the
Deferral Notice to the date the Registration Statement and relevant Prospectus are no longer unavailable to make sales of the securities is known as the “Deferral Period.” 

(k) If reasonably requested by a Qualified Holder or any underwriter participating in any disposition of Registrable
Securities, if any, in writing in connection with a disposition by such Qualified Holder of Registrable Securities pursuant to a Registration Statement, make reasonably available for inspection during normal business hours by representatives of such
Qualified Holders of such Registrable Securities (including any broker-dealers, underwriters, attorneys and accountants retained by such Qualified Holders, and any attorneys or other agents retained by a broker-dealer or underwriter engaged by such
Qualified Holders), all relevant financial and other records and pertinent documents and properties of the Trust, and cause the appropriate employees and agents of the Trust to make reasonably available for inspection during normal business hours on
reasonable notice all relevant information reasonably requested by such representatives in each case as is customary for similar “due diligence” examinations; provided, that (i) the Trust shall not be obligated to make
available for inspection any information that, based on the reasonable advice of counsel to the Trust, could subject the Trust to the loss of privilege with respect thereto and (ii) such persons shall first agree in writing with the Trust that
any information that is reasonably designated by the Trust as confidential at the time of delivery of such information shall be kept confidential by such persons and shall be used solely for the purposes of exercising rights under this Agreement,
unless (a) disclosure of such information is required by court or administrative order or is necessary to respond to inquiries of regulatory authorities, (b) disclosure of such information is required by law (including any disclosure
requirements pursuant to federal securities laws in connection with the filing of any Registration Statement or the use of any Prospectus referred to in this Agreement) or (c) such information becomes generally available to the public other
than as a result of a disclosure or failure to safeguard by any such person; and provided, further, that the foregoing inspection and information gathering shall, to the greatest extent possible, be coordinated on behalf of all the Qualified
Holders and the other parties entitled thereto by Special Counsel, if any, or another representative selected by the Qualified Holders holding a majority of Registrable Securities being registered pursuant to such Registration Statement. Any person
legally compelled or required by administrative or court order or by a regulatory authority 

  
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to disclose any such confidential information made available for inspection shall provide the Trust with prompt prior written notice of such requirement so that the Trust may seek a protective
order or other appropriate remedy. 
 (l) Use its best efforts to comply with all applicable rules and
regulations of the SEC and make generally available to the Trust’s unitholders earnings statements (which need not be audited) satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar
rule promulgated under the Securities Act) for a 12-month period commencing on the first day of the first fiscal quarter of the Trust commencing after the effective date of a Registration Statement, which statements shall be made available no later
than the next succeeding Business Day after such statements are required to be filed with the SEC. 
 (m)
Cooperate with each Qualified Holder and the managing underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities sold or to be sold pursuant to a Registration Statement, which
certificates shall not bear any restrictive legends stating that the Registrable Securities evidenced by the certificates are “restricted securities” (as defined by Rule 144), and cause such Registrable Securities to be registered in
such names as such Qualified Holder or the managing underwriters, if any, may request in writing at least two (2) Business Days prior to any sale of such Registrable Securities. 

(n) Provide a CUSIP number for all Registrable Securities covered by each Registration Statement not later than the
effective date of such Registration Statement. 
 (o) Cooperate with and assist each Qualified Holder, the
Special Counsel and any underwriters participating in any disposition of Registrable Securities in any filings required to be made with the Financial Industry Regulatory Authority, Inc. in connection with the filing or effectiveness of any
Registration Statement, any post-effective amendment thereto or any offer or sale of Registrable Securities thereunder. 
 (p) In the case of a proposed sale pursuant to a Registration Statement involving an underwritten offering, enter into such customary agreements (including, if requested, an underwriting agreement in
reasonably customary form) and take all such other action, if any, as Qualified Holders holding a majority of the Registrable Securities being sold or any managing underwriters reasonably shall request in order to facilitate any disposition of the
Registrable Securities pursuant to such Registration Statement, including using reasonable best efforts to cause (i) its counsel to deliver an opinion or opinions in reasonably customary form, (ii) its officers to execute and deliver
all customary documents and certificates on behalf of the Trust and (iii) its independent public accountants and independent reserve engineers to provide a comfort letters in reasonably customary form. 

(q) Use reasonable best efforts to support the marketing of the Registrable Securities covered by the Registration
Statement. 
 (r) Upon either (i) the filing of any Registration Statement or (ii) the effectiveness of
any Registration Statement, announce the same, in each case by press release disseminated by means of a widely used wire service or similar method. 

  
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 (s) Use reasonable best efforts to cause all Registrable Securities covered
by a Demand Registration to be listed on each securities exchange on which similar securities issued by the Trust are listed or traded. 
 SECTION 4. Qualified Holder’s Obligations. 
 (a) Each
Qualified Holder agrees that if such Qualified Holder wishes to sell Registrable Securities pursuant to a Registration Statement and related Prospectus, it will do so only in accordance with this Agreement. The Trust may require each seller of
Registrable Securities as to which any registration is being effected to furnish to the Trust in writing such information required in connection with such registration regarding such seller and the distribution of such Registrable Securities as the
Trust may, from time to time, reasonably request in writing (the “Required Information”) and the Trust may exclude from such registration the Registrable Securities of any seller who fails to furnish such information within a
reasonable time after receiving such request. In addition, following the date that a Registration Statement is declared effective, each Qualified Holder wishing to sell Registrable Securities pursuant to a Registration Statement and related
Prospectus agrees to deliver, promptly upon written request by the Trust, any additional information (which additional information shall be deemed part of the Required Information) the Trust may reasonably request to complete or amend the
information required by any Registration Statement. 
 (b) Each Qualified Holder agrees, by acquisition of the
Registrable Securities, that no Qualified Holder shall be entitled to sell any of such Registrable Securities pursuant to a Registration Statement or to receive a Prospectus relating thereto unless such Qualified Holder has furnished the Trust with
(i) the Required Information, (ii) any information required to be disclosed in order to make the information previously furnished to the Trust by such Qualified Holder not misleading and (iii) any other information regarding such
Qualified Holder and the distribution of such Registrable Securities as the Trust may from time to time reasonably request. The sale of any Registrable Securities by any Qualified Holder shall constitute a representation and warranty by such
Qualified Holder that the information relating to such Qualified Holder and its plan of distribution is as set forth in the Prospectus delivered by such Qualified Holder in connection with such disposition, that such Prospectus does not as of the
time of such sale contain any untrue statement of a material fact relating to or provided by such Qualified Holder or its plan of distribution and that such Prospectus does not as of the time of such sale omit to state any material fact relating to
or provided by such Qualified Holder or its plan of distribution necessary in order to make the statements in such Prospectus, in the light of the circumstances under which they were made, not misleading. 

SECTION 5. Registration Expenses. The relevant Qualified Holder(s) shall bear all out-of-pocket fees and expenses incurred by the
Trust in connection with the performance of its obligations under Sections 2 and 3 of this Agreement whether or not any Registration Statement is declared effective. Such fees and expenses shall include, without limitation, (i) all registration
and filing fees (including fees and expenses (x) with respect to filings required to be made with the Financial Industry Regulatory Authority, Inc. and (y) of compliance with federal and state securities or Blue Sky laws (including
reasonable fees and disbursements of the Special Counsel, if any, in connection with Blue Sky qualifications of the Registrable Securities under the laws of such jurisdictions as Qualified Holders holding a majority of the Registrable Securities
being 

  
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sold pursuant to a Registration Statement may designate)), (ii) printing expenses (including expenses of printing certificates for Registrable Securities in a form eligible for deposit with
The Depository Trust Company), (iii) duplication expenses relating to copies of any Registration Statement or Prospectus delivered to any Qualified Holders hereunder, (iv) fees and disbursements of counsel for the Trust and the Special
Counsel, if any, in connection with any Registration Statement, (v) fees of accountants and reserve engineers for consents and comfort letters and (vi) fees and expenses incurred in connection with the listing by the Trust of the
Registrable Securities on any securities exchange on which similar securities of the Trust are then listed. However, the Trust shall pay the internal expenses of the Trust (including all salaries and expenses of employees and agents performing legal
or accounting duties), the expense of any annual audit and annual reserve report and the other fees and expenses of the accountants and independent reserve engineers for the Trust not covered by clause (v) of the preceding sentence, other than
any expense that would not have otherwise been incurred but for the fact of the filing of the Registration Statement or the timing thereof, the fees and expenses of any person, including special experts, retained by the Trust and the fees and
expenses of any transfer agent for the Registrable Securities. Notwithstanding the provisions of this Section 5, each seller of Registrable Securities shall pay its own selling expenses, including any underwriting discount and commissions, all
registration expenses to the extent required by applicable law and, except as otherwise provided herein, fees and expenses of counsel. 
 SECTION 6. Indemnification and Contribution. 
 (a)
Indemnification by the Trust. The Trust shall indemnify and hold harmless SandRidge, each Qualified Holder and each person, if any, who controls SandRidge or any Qualified Holder within the meaning of either Section 15 of the Securities
Act or Section 20 of the Exchange Act, from and against any and all losses, claims, damages and liabilities (including any reasonable legal or other expenses reasonably incurred in connection with defending or investigating any such action or
claim) (“Expenses”) to which SandRidge, any Qualified Holder or any controlling person of SandRidge or any Qualified Holder may become subject, under or with respect to the Securities Act, the Exchange Act, any other federal or
state securities law or otherwise, insofar as such Expenses are caused by any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement at the date and time as of which such Registration Statement was
declared effective by the SEC, any preliminary Prospectus or the Prospectus, or caused by any omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein (in the
case of a preliminary Prospectus or Prospectus, in light of the circumstances under which they were made), not misleading, but in each case only with respect to written information relating to the Trust furnished by or on behalf of the Trust
specifically for inclusion in the documents referred to in the foregoing indemnity. Subject to Section 6(e) of this Agreement, the Trust shall reimburse SandRidge, the Qualified Holders and any controlling persons thereof for any legal or other
expenses reasonably incurred by SandRidge, the Qualified Holders or any controlling persons thereof in connection with the investigation or defense of any Expenses with respect to which SandRidge and the Qualified Holders or any controlling persons
thereof are entitled to indemnity by the Trust under this Agreement. In connection with any underwritten offering pursuant to Section 8, the Trust will also agree to indemnify the underwriters, if any, their officers and directors and each
person who controls such underwriters (within the meaning of the Securities Act and the Exchange Act) on terms and conditions similar to those set forth 

  
 12 

 
herein with respect to the indemnification of SandRidge and the Qualified Holders, if requested in connection with any Registration Statement, such indemnification to be set forth in any
underwriting agreement to be entered into by the Trust with such underwriters. 
 (b) Indemnification by
SandRidge. SandRidge shall indemnify and hold harmless each Qualified Holder (other than SandRidge), the Trust and the Trustee and any agents thereof, individually and as trustee, as the case may be, and each person, if any, who controls such
Qualified Holder, the Trust or the Trustee within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any Expenses (excluding, however, any taxes, fees and other charges payable by the
Trust on, based on or measured by any fees, commissions or compensation received by the Trust for its services under this Agreement) to which such Qualified Holder, the Trust, the Trustee or any agent thereof or any controlling person of such
Qualified Holder, the Trust or the Trustee may become subject, under or with respect to the Securities Act, the Exchange Act, any other federal or state securities law or otherwise, insofar as such Expenses are caused by (i) an untrue statement
or alleged untrue statement of a material fact contained in any Registration Statement or an omission or alleged omission to state a material fact required to be stated in or necessary to make the statements therein not misleading at the date and
time as of which such Registration Statement was declared effective by the SEC, (ii) an untrue statement or alleged untrue statement of a material fact contained in any preliminary Prospectus or any Prospectus or an omission or alleged omission
to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading as of the date of such preliminary Prospectus or Prospectus and as of the closing of the sale of
Trust Units sold thereunder or (iii) any untrue statement or alleged untrue statement of a material fact contained in any other filing, report or other action taken with respect to the Securities Act, the Exchange Act or any other federal or
state securities law, the listing of the Trust Units on the New York Stock Exchange or another national securities exchange or any omission or alleged omission to state a material fact required to be stated therein or necessary to make the
statements therein not misleading; provided, that SandRidge shall not be liable to and shall not indemnify the Qualified Holders (other than SandRidge), the Trust, the Trustee or any agents or controlling persons thereof, individually or as
trustee, as the case may be, in any such case under the preceding clauses (i) and (ii) of this Section 6(b) to the extent that any such Expense arises out of, is based upon or is connected with information relating to (a) the
Trust in its individual capacity or (b) such Qualified Holder, in either case prepared or furnished by the Trust or such Qualified Holder, as the case may be, expressly for use in any Registration Statement, any preliminary Prospectus or any
Prospectus; and provided, further, that SandRidge shall not be liable to the Qualified Holders (other than SandRidge), the Trust or any agents or controlling persons thereof, individually or as trustee, as the case may be, in any such case
under the preceding clause (iii) of this Section 6(b) to the extent that any such Expense arises out of, is based upon or is connected with information relating to (a) the Trust in its individual capacity prepared or furnished by the
Trust and the Trust is found liable or (b) such Qualified Holder prepared or furnished by such Qualified Holder and such Qualified Holder is found liable. Subject to Section 6(e) of this Agreement, SandRidge shall reimburse the Qualified
Holders (other than SandRidge), the Trust and the Trustee and any agents or controlling persons thereof for any legal or other expenses reasonably incurred by the Qualified Holders (other than SandRidge), the Trust and the Trustee or any agent or
controlling persons thereof in connection with the investigation or defense of any Expenses with respect to 

  
 13 

 
which the Qualified Holders (other than SandRidge), the Trust and the Trustee or any agent or controlling persons thereof is entitled to indemnity by SandRidge under this Agreement. 

(c) Indemnification by Certain of the Qualified Holders. Each Qualified Holder (other than SandRidge), severally
and not jointly, shall indemnify and hold harmless SandRidge, the Trust, the Trustee and any agents thereof, individually and as trustee, and any other Qualified Holder and each person, if any, who controls SandRidge, the Trust, the Trustee and any
agents thereof, individually and as trustee, or any other Qualified Holder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and all Expenses to which SandRidge, the
Trust, the Trustee and any agents thereof, individually and as trustee, any other Qualified Holder or any controlling person of SandRidge, the Trust, the Trustee and any agents thereof, individually and as trustee, or any other Qualified Holder may
become subject, under or with respect to the Securities Act, the Exchange Act, any other federal or state securities law or otherwise, insofar as such Expenses are caused by any untrue statement or alleged untrue statement of a material fact
contained in any Registration Statement at the date and time as of which such Registration Statement was declared effective by the SEC, any preliminary Prospectus or the Prospectus, or caused by any omission or alleged omission to state therein a
material fact required to be stated therein or necessary in order to make the statements therein (in the case of a preliminary Prospectus or Prospectus, in light of the circumstances under which they were made), not misleading, but in each case only
with respect to written information relating to such Qualified Holder (other than SandRidge) furnished by or on behalf of such Qualified Holder specifically for inclusion in the documents referred to in the foregoing indemnity. Subject to
Section 6(e) of this Agreement, such Qualified Holder shall reimburse SandRidge, the Trust, the Trustee and any agents thereof, individually and as trustee, the other Qualified Holders and any agents or controlling persons thereof for any legal
or other expenses reasonably incurred by SandRidge, the Trust, the Trustee and any agents thereof, individually and as trustee, the other Qualified Holders or any agent or controlling persons thereof in connection with the investigation or defense
of any Expenses with respect to which SandRidge, the Trust, the Trustee and any agents thereof, individually and as trustee, and the other Qualified Holders or any agent or controlling persons thereof is entitled to indemnity by such Qualified
Holder under this Agreement. 
 (d) Conduct of Indemnification Proceedings. In case any proceeding
(including any governmental investigation) shall be instituted involving any person in respect of which indemnity may be sought pursuant to Section 6(a), 6(b) or 6(c) hereof, such person (the “Indemnified Party”) shall promptly
notify the person against whom such indemnity may be sought (the “Indemnifying Party”) in writing and the Indemnifying Party, upon request of the Indemnified Party, shall retain counsel reasonably satisfactory to the Indemnified
Party to represent the Indemnified Party and any others the Indemnifying Party may designate in such proceeding and shall pay the reasonable fees and disbursements of such counsel related to such proceeding. In any such proceeding, any Indemnified
Party shall have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless (i) the Indemnifying Party and the Indemnified Party shall have mutually agreed to the
retention of such counsel or (ii) the named parties to any such proceeding (including any impleaded parties) include both the Indemnifying Party and the Indemnified Party and representation of both parties by the same counsel would be
inappropriate due to actual or potential differing interests between them, other than solely by virtue of the rights and 

  
 14 

 
obligations of the Indemnifying Party and the Indemnified Party under this Section 6. It is understood that the Indemnifying Party shall not, in respect of the legal expenses of any
Indemnified Party in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the fees and expenses of more than one separate firm (in addition to any local counsel) for all such indemnified parties and that all
such fees and expenses shall be reimbursed as they are incurred. Such firm shall be designated in writing by, in the case of parties indemnified pursuant to Section 6(a), the Qualified Holders holding a majority of the Registrable Securities
covered by the Registration Statement held by Qualified Holders that are indemnified parties pursuant to Section 6(a) and, in the case of parties indemnified pursuant to Section 6(b) or Section 6(c), the Trust. The Indemnifying Party
shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final, non-appealable judgment for the plaintiff, the Indemnifying Party agrees to indemnify the
Indemnified Party from and against any Expenses by reason of such settlement or judgment. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending or threatened proceeding in
respect of which any Indemnified Party is or could have been a party and indemnity could have been sought hereunder by such Indemnified Party, unless such settlement includes an unconditional release of such Indemnified Party from all liability on
claims that are the subject matter of such proceeding. 
 (e) Contribution. To the extent that the
indemnification provided for in Section 6(a), 6(b) or 6(c) is unavailable to an Indemnified Party or insufficient in respect of any Expenses referred to therein, then each Indemnifying Party under such paragraph, in lieu of indemnifying such
Indemnified Party thereunder, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Expenses (i) in such proportion as is appropriate to reflect the relative benefits received by the Indemnifying Party or
Indemnifying Parties on the one hand and the Indemnified Party or Indemnified Parties on the other hand or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to
reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Indemnifying Party or Indemnifying Parties on the one hand and of the Indemnified Party or Indemnified Parties on the other hand in
connection with the statements or omissions that resulted in such Expenses, as well as any other relevant equitable considerations. The relative fault of SandRidge and the other Qualified Holders on the one hand and the Trust on the other hand 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 required to be stated or necessary in order to make the statements (in
the case of a preliminary Prospectus or Prospectus, in light of the circumstances under which they were made) not misleading, relates to information supplied by SandRidge, the other Qualified Holders or by the Trust, and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Qualified Holders’ respective obligations to contribute pursuant to this Section 6 are several in proportion to the respective
number of Registrable Securities they have sold pursuant to a Registration Statement, and not joint. 
 The parties hereto agree
that it would not be just and equitable if contribution pursuant to this Section 6(e) were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the
immediately preceding paragraph. The amount paid or payable by an Indemnified Party as a result of the Expenses referred to in the immediately preceding paragraph shall be deemed to include, subject to the

  
 15 

 
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. 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. 

(f) The remedies provided for in this Section 6 are not exclusive and shall not limit any rights or remedies which
may otherwise be available to an Indemnified Party at law or in equity, hereunder or otherwise. 
 (g) The
indemnity and contribution provisions contained in this Section 6 shall remain operative and in full force and effect regardless of (i) any termination of this Agreement, (ii) any investigation made by or on behalf of any Qualified
Holder, any person controlling SandRidge or any other Qualified Holder or any Affiliate of SandRidge or any other Qualified Holder or by or on behalf of the Trust, its employees or agents or any person controlling the Trust and (iii) the sale
of any Registrable Securities by any Qualified Holder. 
 SECTION 7. Information Requirements. The Trust covenants that,
if at any time before the end of the Effective Period the Trust is not subject to the reporting requirements of the Exchange Act, it will cooperate with any Qualified Holder and take such further reasonable action as any Qualified Holder may
reasonably request in writing (including making such reasonable representations as any such Qualified Holder may reasonably request), to enable such Qualified Holder to sell Registrable Securities without registration under the Securities Act within
the limitation of the exemptions provided by Rule 144 or Rule 144A under the Securities Act and customarily taken in connection with sales pursuant to such exemptions. Upon the written request of any Qualified Holder, the Trust shall
deliver to such Qualified Holder a written statement as to whether the Trust has complied with such filing requirements. Notwithstanding the foregoing, nothing in this Section 7 shall be deemed to require the Trust to register any of the
Trust’s securities under any section of the Exchange Act. 
 SECTION 8. Underwritten Registrations. Qualified
Holders of Registrable Securities covered by any Registration Statement may sell such Registrable Securities to an underwriter in an underwritten offering for reoffering to the public. If any of the Registrable Securities covered by any Registration
Statement are to be sold in an underwritten offering, the underwriters that will administer the offering will be selected by the Qualified Holders holding a majority of such Registrable Securities included in such offering, subject to the consent of
the Trust (which shall not be unreasonably withheld or delayed), and such Qualified Holders shall be responsible for all underwriting commissions and discounts and any transfer taxes in connection therewith. No person may participate in any
underwritten registration hereunder unless such person (i) agrees to sell such person’s Registrable Securities on the basis reasonably provided in any underwriting arrangements approved by the persons entitled hereunder to approve such
arrangements and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements. 

SECTION 9. Miscellaneous. 

  
 16 

 (a) Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, without the written consent of the Trust, SandRidge and Qualified Holders
holding a majority of Registrable Securities. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Qualified Holders whose securities are being
sold pursuant to a Registration Statement and that does not directly or indirectly affect the rights of other Qualified Holders may be given by Qualified Holders of at least a majority of the Registrable Securities being sold by such Qualified
Holders pursuant to such Registration Statement; provided, that the provisions of this sentence may not be amended, modified or supplemented except in accordance with the provisions of the immediately preceding sentence. Notwithstanding the
foregoing, this Agreement may be amended by written agreement signed by the Trust, without the consent of the Qualified Holders of Registrable Securities, to cure any ambiguity or to correct or supplement any provision contained herein that may be
defective or inconsistent with any other provision contained herein, or to make such other provisions in regard to matters or questions arising under this Agreement that shall not adversely affect the interests of the Qualified Holders of
Registrable Securities. Each Qualified Holder of Registrable Securities outstanding at the time of any such amendment, modification, supplement, waiver or consent or thereafter shall be bound by any such amendment, modification, supplement, waiver
or consent effected pursuant to this Section 9(a), whether or not any notice, writing or marking indicating such amendment, modification, supplement, waiver or consent appears on the Registrable Securities or is delivered to such Qualified
Holder. 
 (b) Notices. All notices and other communications provided for or permitted hereunder shall be
made in writing by hand delivery, by facsimile, by courier guaranteeing overnight delivery or by first-class mail, return receipt requested, and shall be deemed given (i) when made, if made by hand delivery, (ii) upon confirmation, if made
by facsimile, (iii) one (1) Business Day after being deposited with such courier, if made by overnight courier or (iv) on the date indicated on the notice of receipt, if made by first-class mail, to the parties as follows: 

(i) if to a Qualified Holder other than SandRidge, at the most current address of such Qualified Holder on file with the
Trust; 
 if to the Trust or the Trustee, to: 
 SandRidge Mississippian Trust I 
 c/o The Bank of New York Mellon Trust Company,
N.A. 
 Institutional Trust Services 
 919 Congress Avenue, Suite 500 
 Austin, Texas 78701 

Attention: Mike J. Ulrich 
 Facsimile No.: (512) 479-2253 
 with a copy to: 

Bracewell & Giuliani LLP 
 111 Congress Avenue 

  
 17 

 
Suite 2300 
 Austin, Texas 78701 

Attention: Thomas W. Adkins 
 Fax: (512) 479-3940 
 if to SandRidge, to: 

SandRidge Energy, Inc. 
 123 Robert S. Kerr Avenue 
 Oklahoma City, OK 73102-6406 

Attention: Philip T. Warman 
 Facsimile No.: (405) 429-5983 
 with a copy to: 

Covington & Burling LLP 
 1201 Pennsylvania Avenue, N.W. 
 Washington, D.C. 20004 

Attention: David H. Engvall 
 Facsimile No. (202) 778 5307 
 or to such other address as such person may have furnished to
the other persons identified in this Section 9(b) in writing in accordance herewith. 
 (c) Approval of
Qualified Holders. Whenever the consent or approval of Qualified Holders of a specified percentage of Registrable Securities is required hereunder, Registrable Securities held by Affiliates (as such term is defined in Rule 405 under the
Securities Act) of the Trust (other than SandRidge or subsequent Qualified Holders if such Qualified Holders are deemed to be Affiliates of the Trust solely by reason of their holding of such Registrable Securities) shall not be counted in
determining whether such consent or approval was given by the Qualified Holders of such required percentage. 

(d) Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and permitted assigns (including Transferees); provided, that nothing herein shall be deemed to permit any assignment, transfer or other disposition of Registrable Securities in violation of the terms
hereof. The Registrable Securities acquired by Transferees shall be held subject to all of the terms of this Agreement, and by taking and holding such Registrable Securities, each such Transferee shall be conclusively deemed to have agreed to be
bound by and to perform all of the terms and provisions of this Agreement and such person shall be entitled to receive the benefits hereof. 
 (e) No Third-Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns (including Transferees) and nothing herein,
express or implied, is intended to or shall confer upon any other person any legal or equitable right, benefit or remedy of any nature whatsoever, under or by reason of this Agreement. 

  
 18 

 (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) Construction. Unless the context requires otherwise: (i) any pronoun used in this Agreement shall include
the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa; (ii) references to Articles and Sections refer to Articles and Sections of this Agreement;
(iii) the terms “include,” “includes,” “including” or words of like import shall be deemed to be followed by the words “without limitation;” and (iv) the terms “hereof,” “herein”
or “hereunder” refer to this Agreement as a whole and not to any particular provision of this Agreement. The headings contained in this Agreement are for reference purposes only, and shall not affect in any way the meaning or
interpretation of this Agreement. 
 (h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 (i) Severability. If any term, provision,
covenant or restriction of this Agreement is held to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be
affected, impaired or invalidated thereby, and the parties hereto shall use their reasonable best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision,
covenant or restriction, it being intended that all of the rights and privileges of the parties shall be enforceable to the fullest extent permitted by law. 
 (j) Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and is intended to be a complete and exclusive statement of the agreement and understanding
of the parties hereto in respect of the registration rights granted by the Trust with respect to the Registrable Securities. 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 Trust with respect to the Registrable Securities. This Agreement supersedes all prior agreements and undertakings among the parties with respect to such registration rights. 

(k) Termination. This Agreement and the obligations of the parties hereunder shall terminate upon the end of the
Effective Period, except for any liabilities or obligations under Section 4, 5 or 6 hereof, each of which shall remain in effect in accordance with its terms. 

(l) Specific Enforcement; Venue. The parties hereto acknowledge and agree that each would be irreparably damaged if
any of the provisions of this Agreement are not performed by the other in accordance with their specific terms or are otherwise breached. It is accordingly agreed that each party shall be entitled to seek an injunction or injunctions to prevent
breaches of this Agreement by the other and to enforce this Agreement and the terms and provisions hereof specifically against the other, in addition to any other remedy to which such 

  
 19 

 
aggrieved party may be entitled at law or in equity. Any action or proceeding seeking to enforce any provision of, or based on any rights arising out of, this Agreement may be brought against any
of the parties in the federal and Oklahoma state courts sitting in Oklahoma City, Oklahoma and each of the parties consents to the jurisdiction of such courts (and of the appropriate appellate courts) in any such action or proceeding and waives any
objection to venue laid therein. Process in any action or proceeding referred to in the preceding sentence may be served on any party anywhere in the world. 
 (m) Limitation of Liability. It is expressly understood and agreed by the Parties hereto that (a) this Agreement is executed and delivered by the Trustee not individually or personally, but
solely as Trustee in the exercise of the powers and authority conferred and vested in it and (b) under no circumstances shall the Trustee be liable for the breach or failure of any obligation, representation, warranty or covenant made or
undertaken by the Trust under this Agreement. 
 [Signature page follows] 

  
 20 

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

					
	SandRidge Mississippian Trust I
		
	By:	 	The Bank of New York Mellon Trust Company, N.A., as Trustee
			
		 	By:	 	 
		 		 	Name:
		 		 	Title:

 [Signature page to
Registration Rights Agreement] 

 
			
	SandRidge Energy, Inc.
		
	By:	 	 
		 	Name:
		 	Title:

 [Signature page to
Registration Rights Agreement]f8k031711ex10v_mustang.htm

Exhibit 10.5

 

EMPLOYMENT AGREEMENT

This Employment Agreement ("Agreement"), effective as of this 22nd day of March 2011 (this “Agreement”), between Leonard Sternheim (the “Executive”), and Mustang Alliances, Inc., a Nevada corporation with an office currently at 410 Park Avenue, 15th Floor, New York, NY 10022 (the “Company”).

 

W I T N E S S E T H:

 

 

WHEREAS, the Company and the Board of Directors of the Company desire to memorialize the employment of the Executive as its Chief Executive Officer and the Executive desires to accept such employment subject to the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, in consideration of the mutual agreements and covenants set forth herein, the parties hereto agree as follows:

 

Definitions. As used in this Agreement, the following capitalized terms shall have the following meanings, unless otherwise expressly provided or unless the context otherwise requires:

(a)  "Board" means the Board of Directors of the Company.

(b)  "Cause" means, as used with respect to the involuntary termination of Executive: (i) The continued failure or refusal by Executive to substantially perform his duties pursuant to the terms of this Agreement; (ii) The engaging by Executive in willful misconduct or inaction materially injurious to the Company;

(c) "Change of Control" means any transaction or occurrence after the date hereof as the result of which:

(i) any person or group of persons (as defined in Rule 13d-5 promulgated under the Securities Exchange Act of 1934 (the "Act")), together with its affiliates, other than current members of the Board of Directors or their affiliates, is or becomes the beneficial owner (as defined in Rule 13d-3 promulgated under the Act), directly or indirectly, of securities of the Company (including securities convertible into or exercisable for securities of the Company) ordinarily having the right to vote in the election of directors which together represent, after giving effect to any conversion or exercise, in excess of fifty percent (50%) of the combined voting power of the Company's outstanding securities ordinarily having the right to vote in the election of directors; or (ii) Continuing Directors (as defined below) shall cease for any reason to constitute at least a majority of the Board of Directors; or (iii) the Company shall merge or consolidate with any other person or entity other than a subsidiary, and, upon the consummation of such transaction, holders of the Common Stock immediately prior to such transaction own less than fifty percent (50%) of the equity securities of the surviving or consolidated entity; or (iv) all or substantially all of the assets of the Company are sold or transferred to another person or entity in a single transaction or a series of related transactions.

  

1

  

Notwithstanding the foregoing, a Change of Control shall not include the filing by or on behalf of, or entering against, the Company or its subsidiaries of (a) a petition, decree or order of bankruptcy or reorganization, or (c) a petition, decree or order for the appointment of a trustee, receiver, liquidator, supervisor, conservator or other officer or agency having similar powers over the Company or its subsidiaries, including any such petitions, orders or decrees filed or entered by federal or state regulatory authorities. "

(d) "Continuing Director" means any individual who is a member of the Board of Directors as of the date hereof.

(e) "Good Reason" means, with respect to the voluntary termination by Executive, the occurrence, without the Executive's express written consent, of any of the following: i) Except as provided in Section 2 hereof, the assignment to Executive by the Company of any duties materially inconsistent with, or the diminution of, Executive's positions, titles, offices, duties and responsibilities with the Company, as provided in Section 2 below, or any removal of Executive from, or any failure to re-elect Executive to, any titles, offices or positions held by Executive pursuant to said Section 2; and (ii) Except in accordance with the terms hereof, a reduction by the Company in Executive's base salary or any other compensation provided for herein; ; provided, however, that the occurrence of any of the foregoing shall not constitute Good Reason to the extent that such occurrence is part of a change in benefits, compensation, policies or practices that affect either: (i) substantially all of the executives of the Company or (ii) all other senior executives of the Company of comparable or lower status to the Executive.

(f) "Incapacity" means the absence of the Executive from his employment or the inability of Executive to perform his essential job duties with reasonable accommodations on a full-time basis by reason of mental or physical illness, disability or incapacity for a period of ninety (90) consecutive days.

 

 

ARTICLE I

POSITION; DUTIES; TERM

 

1.1 Position.  The Company hereby employs the Executive as the Chief Executive Officer of the Company, which employment the Executive hereby accepts, all in the capacity and on the terms and conditions hereinafter set forth.

 

1.2 During the Term (as defined below), the Executive’s primary duties and obligations hereunder shall be as directed and under the supervision of the Board of Directors of the Company.

1.3 Time Commitment. Executive and the Company agree that initially Executive shall be engaged by the Company on a "part time status" pursuant to which Executive shall work at least one hundred fifty (150) hours per month on behalf of the Company.

 

  

2

  

 

1.4 During the term of this Agreement, the Company expressly acknowledges and agrees that Executive shall be entitled to accept employment with one or more other enterprises or act as a consultant for other businesses ("Outside Activities"); provided that such Outside Activities do not violate Section 5.2 hereof.

1.5 Term.  Unless sooner terminated pursuant to the terms of this Agreement, the term of this Agreement and Executive's employment shall be for a period of two (2) years (the "Initial Term"), commencing as of the date of this Agreement and terminating on March 1, 2013; provided, however, the Agreement shall automatically be extended for additional one (1) year periods (the "Annual Renewals), unless either party delivers written notice to the other of the termination hereof on or before one hundred and twenty (120) days prior to the completion of the Initial Term or any annual extension thereof (the "Term").

 

Executive's employment with the Company pursuant to this Agreement shall terminate prior to the completion of the Term upon the occurrence of any of the following events:

(a)       The death of Executive;

(b)       Executive voluntarily leaves the employ of the Company without Good Reason;

(c)       The Incapacity of Executive;

(d)       The Company terminates this Agreement for Cause;

(e)       The Company terminates this Agreement for any reason other than Cause;

(f)        Executive terminates this Agreement for Good Reason; or

(g)       The appointment of a trustee for the Company for the purpose of liquidating and winding up the Company pursuant to Chapter 7 of the Federal Bankruptcy Code.

ARTICLE II

 SALARY; OPTIONS

Salary.  The Executive shall be entitled to a gross annual salary (the “Salary”) of $120,000 subject to withholding for applicable taxes, to be paid monthly in equal installments of $10,000 on the fifteenth business day of each month and shall accrue from the date hereof and payable at such time when the Company has adequate capital.  Stock Options. The Board in its discretion may determine to issue stock options to Executive at any time during the Term.

  

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ARTICLE III

BENEFITS

 

3.1           Business Expenses  The Executive shall be reimbursed for all reasonable and necessary business expenses incurred by the Executive in connection with the performance of his duties under this Agreement, as approved by the Company, including reasonable accommodation expenses during travel required in connection with the performance of the Executive’s duties.

 

3.2           Directors’ and Officers’ Liability Insurance.  The Executive shall be covered by any directors’ and officers’ insurance policy to be obtained by the Company. The Company agrees to defend the Executive from and against any and all lawsuits initiated against the Company and/or the Executive if such insurance is obtained.

3.3           Additional Benefits. The Executive shall be entitled to participate in any pension or profit sharing plans, group health, accident or life insurance plans, group medical and hospitalization plan, and other similar benefits as may be available to the executives of the Company.  The Executive shall assist the Company in adopting the proper plans for the Company. In addition to the compensation provided for in Section 2.1 of this Agreement, Executive shall have the right to participate in any profit-sharing, pension, life, health and accident insurance, or other executive benefits ("Benefit Plan(s)") presently adopted or which hereafter may be adopted by the Company in a manner comparable to those offered or available to other executives of the Company located in the State of New York, Colorado or California who are similarly situated where such plans or programs are available to all such similarly situated executives pursuant to their terms. Nothing contained herein, shall require that the Company establish or continue any Benefit Plan or that the Board designate the Executive as a participant in any new plan or program where the Board, in its sole discretion, is entitled to designate participants or qualifications for any new or additional program. Except as set forth above, the Company reserves the right to add, terminate and/or amend any existing plans, policies, programs and/or arrangements during the term of this Agreement without any obligation to the Executive hereunder.

(b) Executive shall also be entitled to fifteen (15) days annual vacation time. Unused vacation days at the end of any pay period(s) may be carried over to subsequent pay period(s), provided that the cumulative number of vacation days accruing from and after the date of this Agreement carried over into any subsequent pay period shall not exceed twenty (20) days. Executive shall not accrue additional vacation days during any pay period once the total number of accumulated vacation days equals twenty (20) days. Executive shall be entitled to carry over up to, but not in excess of, such amount of excess vacation days from pay period to any subsequent pay period. Notwithstanding the foregoing, Executive shall not be entitled to, nor shall accrue any new vacation days during any pay period in which Executive has excess vacation days. In the event Executive reduces the amount of excess vacation days in any year through the utilization of more than ten (10) vacation days in such year, Executive shall not be entitled to the restoration of such days through the utilization of less than ten (10) vacation days in any subsequent year and pay period. Executive shall under no circumstances be entitled to cash in lieu of vacation days, except in the event of Executive's termination of employment with the Company.

 

  

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ARTICLE IV

TERMINATION

4.1   Termination with or without Cause.  The Executive's employment hereunder may be terminated by the Company without Cause at any time. If the Executive’s employment is terminated by the Company without Cause, the Company shall pay the Executive his Salary accrued through the expiration date of this Agreement.

4.2    Compensation Upon Termination. In the event this Agreement is terminated with Cause, the Company shall pay to Executive his then current Salary, prorated through the Executive's last day of employment with the Company (the "Termination Date") and solely those additional bonuses that had been declared or fully earned by Executive prior to such termination ("Earned Bonuses"), but had not yet received Earned Bonuses, and any accrued vacation days through the Termination Date pursuant to Section 3.3(b) (the "Termination Pay"). Except as set forth below, all employment compensation and benefits shall cease as of the Termination Date. In addition to the foregoing:

(a)        In the event that such termination arises under Section 1.5(a), Executive's estate shall be entitled to receive severance compensation equal to such amount of Executive's then current Salary as would have been paid over an additional thirty (30) day period;

(b)        Except as otherwise provided in this Agreement, all other compensation and benefits enjoyed by or due to Executive as part of Executive's employment with Employer shall cease as of the Termination Date; including but not limited to any rights to office or parking space, vacation or sick pay, use of telephones, Xeroxing or facsimile equipment, secretarial assistance, any unpaid bonus other than Earned Bonuses), all benefits and/or rights pursuant to Section 5 above and the right to receive grants of any stock options which have not previously been granted to Executive or, except as expressly provided in any applicable stock option agreement or plan, vesting in any stock options previously granted to Executive which have not vested as of the Termination Date.

(c)        All payments of severance compensation and all Change of Control Payments, severance benefits, severance salary and termination pay shall be paid or provided subject to the usual withholdings, including state and federal taxes.

4.3    Termination upon Change of Control; Effect of Partial Termination. If, prior to the termination of this Agreement, there shall occur any Change of Control, Executive, in his sole discretion, may elect to terminate this Agreement within thirty (30) days after such Change of Control by giving written notice of such election to the Company. In such event, Executive shall be entitled to his then current Base Salary through the Expiration Date of this Agreement (the "Change of Control Payment") and to all the options, fully vested, due to Executive through the Expiration Date of this Agreement.

  

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ARTICLE V

REPRESENTATION; NON-COMPETITION

 

5.1 Executive Representation.  The Executive represents that the Executive’s execution of this Agreement and the performance of his duties required hereunder will neither be a breach of any other employment or other agreement nor a breach of any non-competition or similar agreement.

 

5.2           Non-Competition.  (a)  The Executive agrees that during the Term and for the period of one (1) year thereafter, he will not engage, directly, either as principal, agent, consultant, proprietor, creditor, stockholder, director, officer or Executive, or participate in the ownership, management, operation or control of any business which directly or indirectly competes with the business of the Company.  The Executive acknowledges and agrees that the current market for the Company's business extends throughout Honduras and that it is therefore reasonable to prohibit the Executive from competing with the Company anywhere in such territory. This Section shall not apply to the Executive’s ownership of less than five percent (5%) of the capital stock of a company having a class of capital stock which is traded on any national stock exchange or to the Executive lecturing to any persons or organizations or consulting with other companies.

(b)           During the Term and for the period of one (1) year thereafter, the Executive agrees that he will not, directly, (i) solicit, divert or recruit or encourage any of the Executives or agents of the Company, or any person who was an Executive or agent of the Company during the Term, to leave the employ of the Company or terminate or alter their contractual relationship in a way that is adverse to the Company's interests, (ii) solicit or divert business from the Company, or assist any person or entity in doing so or attempting to do so or (iii) cause or seek to cause any person or entity to refrain from dealing or doing business with the Company or assist any person or entity in doing so or attempting to do so.

5.3           Remedies. The Executive agrees and acknowledges that the foregoing restrictions and the duration and the territorial scope thereof as set forth in Section 5.2 are under all of the circumstances reasonable and necessary for the protection of the Company and its business.  In the event that the Executive shall breach or threaten to breach any of the provisions of Section 5.2, in addition to and without limiting or waiving any other remedies available to the Company, at law or in equity, the Company shall be entitled to immediate injunctive relief in any court, domestic or foreign, having the capacity to grant such relief, to restrain any such breach or threatened breach and to enforce the provisions of this Agreement.

 

  

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ARTICLE VI

MISCELLANEOUS

6.1           Entire Agreement.  This Agreement constitutes the entire understanding between the Company and the Executive with respect to the subject matter hereof and supersedes any and all previous agreements or understandings between the Executive and the Company concerning the subject matter hereof, all of which are merged herein.

6.2           Successors.  This Agreement shall be binding upon and inure to the benefit of the Executive and his heirs and personal representatives, and the Company and its successors and assigns.

6.3           Notices. All notices and other communications required or permitted hereunder shall be delivered personally, sent via facsimile, certified or registered mail, return receipt requested, or next day express mail or overnight, nationally recognized courier, postage prepaid with proof of receipt, to the address or telephone number (in the case of facsimile) set forth above.  Such addresses and/or telephone numbers may be changed by notice given in the manner provided herein. Any such notice shall be deemed given (i) when delivered if delivered personally, (ii) the day after deposit with the express or courier service when sent by next day express mail or courier, (iii) five (5) days after deposit with the postal service when sent by certified or registered mail, or (iv) when sent over a facsimile system with answer back response set forth on the sender's copy of the document.

6.4           Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to choice of law principles.

6.5           Amendment and Modification.  This Agreement may be amended, modified or supplemented only by written agreement executed by the Company and the Executive.

6.6           Headings.  The section headings herein are inserted for the convenience of the parties only and are not to be construed as part of the terms of this Agreement or to be taken into account in the construction or interpretation of this Agreement.

6.7           Counterparts.  This Agreement may be executed in counterparts and by facsimile, each of which shall be deemed to be an original but both of which together will constitute one and the same instrument.

 

  

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IN WITNESS WHEREOF, the parties have entered into this Executive Employment Agreement as of the day and year first above written.

 

	 	 MUSTANG ALLIANCES, INC.
	 	 
	 	 
	 	 By: /s/ Leonard Sternheim
	 	 Name: Leonard Sternheim
	 	

 Title: Chief Executive Officer

	 	 
	 	 
	 	 /s/ Leonard Sternheim
	 	 Leonard Sternheim

 

 

 

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