Document:

Registration Rights Agreement

 Exhibit 4.2 
 RAAM GLOBAL ENERGY COMPANY 
 $150,000,000 12.50% Senior Secured Notes due
2015 
 REGISTRATION RIGHTS AGREEMENT 
 September 24, 2010 
 GLOBAL HUNTER SECURITIES, LLC 

400 Poydras Street 
 Suite 3100 

New Orleans, Louisiana 70130 
 and 

KNIGHT LIBERTAS LLC 
 51 East Weaver Street

 1 Greenwich Office Park South 
 2nd
Floor 
 Greenwich, Connecticut 06831 
 RAAM GLOBAL ENERGY COMPANY, a Delaware corporation (the “Company”) is issuing and selling to GLOBAL HUNTER SECURITIES, LLC and KNIGHT LIBERTAS LLC, (the “ Initial
Purchasers”), upon the terms set forth in the Purchase Agreement dated September 17, 2010, by and among the Company, the Initial Purchasers and the Guarantors signatory thereto (the “Purchase Agreement”), $150,000,000
aggregate principal amount of 12.50% Senior Secured Notes due 2015 issued by the Company (each, a “Note” and collectively, the “Notes”). As an inducement to the Initial Purchasers to enter into the Purchase
Agreement, the Company and the Guarantors agree with the Initial Purchasers, for the benefit of the Holders (as defined below) of the Notes (including, without limitation, the Initial Purchasers), as follows: 

 

	1.	Definitions 

Capitalized terms that are used herein without definition and are defined in the Purchase Agreement shall have the respective meanings
ascribed to them in the Purchase Agreement. As used in this Agreement, the following terms shall have the following meanings: 

Additional Interest: See Section 4(a). 
 Advice: See Section 6(w). 
 Agreement: This Registration Rights
Agreement, dated as of the Closing Date, between the Company, the Guarantors and the Initial Purchasers. 

 Applicable Period: See Section 2(e). 

Business Day: A day that is not a Saturday, a Sunday or a day on which banking institutions in the City of New York are authorized
or required by law or executive order to be closed. 
 Closing Date: September 24, 2010. 

Collateral Agreements: Shall have the meaning set forth in the Indenture. 

Company: See the introductory paragraph to this Agreement. 

Day: Unless otherwise expressly provided, a calendar day.  

Effectiveness Date: The 270th day after the Closing Date. 
 Effectiveness Period: See Section 3(a). 
 Event Date: See
Section 4(b). 
 Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations of the
SEC promulgated thereunder. 
 Exchange Notes: Senior Secured Notes due 2015 of the Company, identical in all material
respects to the Notes, including the guarantees endorsed thereon, except for references to series and restrictive legends. 

Exchange Offer: See Section 2(a). 
 Exchange Offer Registration Statement: See Section 2(a). 
 Filing Date: The 180th day after the Closing Date.  
 FINRA: Financial Industry Regulatory
Authority. 
 freely tradable: A Transfer Restricted Security shall be deemed to be “freely tradable” at any
time of determination if at such time of determination (i) it may be sold to the public pursuant to Rule 144 under the Securities Act by a person that is not an “affiliate” (as defined in Rule 144 under the Securities Act) of the
Company without regard to any of the conditions specified therein (other than the holding period requirement in paragraph (d) of Rule 144 so long as such holding period requirement is satisfied at such time of determination) and (ii) it
does not bear any restrictive legends relating to the Securities Act. 
 Guarantor: Each subsidiary of the Company that
guarantees the obligations of the Company under the Notes and the Indenture. 
 Holder: Any beneficial holder of Transfer
Restricted Securities. 
 Indemnified Party: See Section 8(c). 

 Indemnifying Party: See Section 8(c). 

Indenture: The Indenture, dated as of the Closing Date, among the Company, the Guarantors and The Bank of New York Mellon Trust
Company, N.A., as trustee, pursuant to which the Notes are being issued, as amended or supplemented from time to time in accordance with the terms hereof. 
 Initial Purchasers: Global Hunter Securities, LLC and Knight Libertas LLC. 

Initial Shelf Registration Statement: See Section 3(a). 

Inspectors: See Section 6(o). 
 Lien: Shall have the meaning set forth in the Indenture.  

Losses: See Section 8(a).  
 Notes: See the introductory paragraph to this Agreement. 
 Participating
Broker-Dealer: See Section 2(e). 
 Person: An individual, trustee, corporation, partnership, limited liability
company, joint stock company, trust, unincorporated association, union, business association, firm, government or agency or political subdivision thereof, or other legal entity. 

Prospectus: The prospectus included in any Registration Statement (including, without limitation, a prospectus that discloses
information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the
terms of the offering of any portion of the Transfer Restricted Securities covered by such Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by
reference or deemed to be incorporated by reference in such Prospectus. 
 Purchase Agreement: See the introductory
paragraph to this Agreement. 
 Records: See Section 6(o). 

Registration Statement: Any registration statement of the Company and the Guarantors filed with the SEC under the Securities Act
(including, but not limited to, the Exchange Offer Registration Statement, the Initial Shelf Registration Statement and any Subsequent Shelf Registration Statement) that covers any of the Transfer Restricted 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 material incorporated by reference or deemed to be incorporated by reference in such
registration statement. 

 Rule 144: Rule 144 promulgated under the Securities Act, as such Rule may be amended
from time to time, or any similar rule (other than Rule 144A) or regulation hereafter adopted by the SEC providing for offers and sales of securities made in compliance therewith resulting in offers and sales by subsequent holders that are not
affiliates of an issuer or such securities being free of the registration and prospectus delivery requirements of the Securities Act. 
 Rule 144A: Rule 144A promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule (other than Rule 144) or regulation hereafter adopted by the SEC.

 Rule 415: Rule 415 promulgated 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 430A: Rule 430A promulgated 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. 
 SEC: The
Securities and Exchange Commission. 
 Securities: The Notes and the Exchange Notes. 

Securities Act: The Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.

 Shelf Filing Date: See Section 4(a)(i). 
 Shelf Notice: See Section 2(i). 
 Shelf Registration Statement:
See Section 3(b). 
 Subsequent Shelf Registration Statement: See Section 3(b). 

TIA: The Trust Indenture Act of 1939, as amended. 
 Transfer Restricted Securities: Notes; provided, however, that a Note shall cease to be a Transfer Restricted Securities upon the earliest to occur of the following: (i) in the
circumstances contemplated by Section 2(a), the Note has been exchanged for an Exchange Note in an Exchange Offer as contemplated in Section 2(a); (ii) in the circumstances contemplated by Section 3, a Shelf Registration
Statement registering such Note, under the Securities Act has been declared or becomes effective and such Note has been sold or otherwise transferred by the holder thereof pursuant to and in a manner contemplated by such effective Shelf Registration
Statement; (iii) such Note is actually sold by the holder thereof pursuant to Rule 144 under circumstances in which any legend borne by such Note, relating to restrictions on transferability thereof, under the Securities Act or otherwise, is
removed by the Company or pursuant to the Indenture; or (iv) such Note shall cease to be outstanding. 
 Trustee:
The trustee under the Indenture and, if existent, the trustee under any indenture governing the Exchange Notes. 

 Underwritten Registration or Underwritten Offering: A registration in which
securities of the Company are sold to an underwriter for reoffering to the public. 
  

	2.	Exchange Offer 

  

	 	(a)	Unless the Exchange Offer would not be permitted by applicable laws or a policy of the SEC, the Company shall (and shall cause each Guarantor to) (i) prepare and
file with the SEC promptly after the date hereof, but in no event later than the Filing Date, a registration statement (the “Exchange Offer Registration Statement”) on an appropriate form under the Securities Act with respect to an
offer (the “Exchange Offer”) to the Holders of Notes to issue and deliver to such Holders, in exchange for the Notes, a like principal amount of Exchange Notes, (ii) use its reasonable best efforts to cause the Exchange Offer
Registration Statement to become effective as of the Effectiveness Date, (iii) use its best efforts to keep the Exchange Offer Registration Statement effective until the consummation of the Exchange Offer in accordance with its terms and
(iv) commence the Exchange Offer as soon as practicable after the date on which the Exchange Offer Registration Statement is declared effective. The Exchange Offer shall not be subject to any conditions, other than that the Exchange Offer does
not violate applicable law or any applicable interpretation of the staff of the SEC. 

  

	 	(b)	The Exchange Notes shall be issued under, and entitled to the benefits of, (i) the Indenture or a trust indenture that is identical to the Indenture, other than
such changes as are necessary to comply with any requirements of the SEC to effect or maintain the qualifications thereof under the TIA and (ii) the Collateral Agreements. 

 

	 	(c)	Interest on the Exchange Notes will accrue from the last interest payment due date on which interest was paid on the Notes surrendered in exchange therefor or, if no
interest has been paid on the Notes, from the date of original issue of the Notes. Each Exchange Note shall bear interest at the rate set forth thereon; provided, that interest with respect to the period prior to the issuance thereof shall
accrue at the rate or rates borne by the Notes from time to time during such period. 

  

	 	(d)	 The Company may require each Holder as a condition to participation in the Exchange Offer to represent (i) that any Exchange Notes received by it
will be acquired in the ordinary course of its business, (ii) that at the time of the commencement and consummation of the Exchange Offer such Holder has not entered into any arrangement or understanding with any Person to participate in the
distribution (within the meaning of the Securities Act) of the Exchange Notes in violation of the provisions of the Securities Act, (iii) that such Holder is not an “affiliate” of the Company within the meaning of Rule 405 of the
Securities Act or, if such Holder is an “affiliate” of the Company within the meaning of Rule 405 of the Securities Act, it will comply with the registration and prospectus delivery requirements of the Securities Act to the extent

	 	 
applicable to it, (iv) if such Holder is not a broker-dealer, that it is not engaged in, and does not intend to engage in, the distribution of the Notes and (v) if such Holder is a
Participating Broker-Dealer, that it will deliver a Prospectus in connection with any resale of the Exchange Notes. 

  

	 	(e)	The Company shall (and shall cause each Guarantor to) include within the Prospectus contained in the Exchange Offer Registration Statement a section entitled “Plan
of Distribution” reasonably acceptable to the Initial Purchasers which shall contain a summary statement of the positions taken or policies made by the staff of the SEC with respect to the potential “underwriter” status of any
broker-dealer that is the beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of Exchange Notes received by such broker-dealer in the Exchange Offer for its own account in exchange for Notes that were acquired by it as a result of
market-making or other trading activity (a “Participating Broker-Dealer”), whether such positions or policies have been publicly disseminated by the staff of the SEC or such positions or policies, in the judgment of the Initial
Purchasers, represent the prevailing views of the staff of the SEC. Such “Plan of Distribution” section shall also allow, to the extent permitted by applicable policies and regulations of the SEC, the use of the Prospectus by all Persons
subject to the prospectus delivery requirements of the Securities Act, including, to the extent so permitted, all Participating Broker-Dealers, for 180 days following the date on which the Exchange Offer Registration Statement is declared effective
(or such shorter period during which Persons are required by law to deliver the Prospectus) (the “Applicable Period”), and include a statement describing the manner in which Participating Broker-Dealers may resell the Exchange
Notes. The Company shall use its best efforts to keep the Exchange Offer Registration Statement effective and to amend and supplement the Prospectus contained therein, in order to permit such Prospectus to be lawfully delivered by all Persons
subject to the prospectus delivery requirements of the Securities Act during the Applicable Period. 

  

	 	(f)	In connection with the Exchange Offer, the Company shall (and shall cause each Guarantor to): 

 

	 	(i)	mail to each Holder a copy of the Prospectus forming part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal that is an
exhibit to the Exchange Offer Registration Statement, and any related documents; 

  

	 	(ii)	keep the Exchange Offer open for not less than 30 days after the date notice thereof is mailed to the Holders (or longer if required by applicable law);

  

	 	(iii)	utilize the services of a depository for the Exchange Offer with an address in the Borough of Manhattan, the City of New York, which may be the Trustee or an affiliate
thereof; 

	 	(iv)	permit Holders to withdraw tendered Transfer Restricted Securities at any time prior to the close of business, New York time, on the last Business Day on which the
Exchange Offer shall remain open; and 

  

	 	(v)	otherwise comply in all material respects with all applicable laws. 

  

	 	(g)	As soon as practicable after the close of the Exchange Offer, the Company shall (and shall cause each Guarantor to): 

 

	 	(i)	accept for exchange all Transfer Restricted Securities validly tendered pursuant to the Exchange Offer, and not validly withdrawn; 

 

	 	(ii)	deliver to the Trustee for cancellation all Transfer Restricted Securities so accepted for exchange; and 

 

	 	(iii)	cause the Trustee to authenticate and deliver promptly to each Holder tendering such Transfer Restricted Securities or Exchange Notes, as the case may be, equal in
principal amount to the Notes of such Holder so accepted for exchange. 

  

	 	(h)	The Exchange Notes may be issued under (i) the Indenture or (ii) an indenture identical to the Indenture (other than such changes as are necessary to comply
with any requirements of the SEC to effect or maintain the qualification thereof under the TIA), which in either event will provide that the Exchange Notes will not be subject to the transfer restrictions set forth in the Indenture and that the
Exchange Notes and the Notes, if any, will be deemed one class of security (subject to the provisions of the Indenture) and entitled to participate in all the security granted by the Company pursuant to the Collateral Agreements and in any
Subsidiary Guarantee (as such terms are defined in the Indenture) on an equal and ratable basis. 

  

	 	(i)	 If: (i) a Purchaser notifies the Company following consummation of the Exchange Offer that the Notes held by it are not eligible to be exchanged
for the Exchange Notes in the Exchange Offer; (ii) applicable law or interpretations of the staff of the SEC would not permit the consummation of the Exchange Offer; (iii) the Exchange Offer is not consummated within 310 days of the
Closing Date for any reason; and (iv) certain Holders are prohibited by law or SEC policy from participating in the Exchange Offer or may not resell the Exchange Notes acquired by them in the Exchange Offer to the public without delivering a
prospectus, in each such case contemplated by clause (i) and this clause (iv), such Holder or Purchaser notifies the Company within six months of consummation of the Exchange Offer, then the Company shall promptly (and in any event within five
Business Days) deliver to the Holders (or in the case of an occurrence of any event described in clause (iv) of this Section 2(i), to any such Holder) and the Trustee notice thereof (the “Shelf Notice”) and shall as
promptly as possible thereafter (but in no event later than the 30th day following 

	 	 
delivery of the Shelf Notice) file an Initial Shelf Registration Statement pursuant to Section 3. 

 

	3.	Shelf Registration Statement 

 If a Shelf Notice is delivered pursuant to Section 2(i), then this Section 3 shall apply to all Transfer Restricted Securities. Otherwise, upon consummation of the Exchange Offer in accordance
with Section 2, the provisions of Section 3 shall apply solely with respect to (i) Notes held by any Holder thereof not permitted to participate in the Exchange Offer, (ii) Notes held by any broker-dealer that acquired such Notes
directly from the Company or any of its affiliates and (iii) Exchange Notes that are not freely tradeable as contemplated by Section 2(i)(iv) hereof, provided in each case that the relevant Holder has duly notified the Company within six
months of the Exchange Offer as required by Section 2(i)(iv). 
  

	 	(a)	 Initial Shelf Registration Statement. The Company shall (and shall cause each Guarantor to), as promptly as practicable, but in no event later
than the 30th day following delivery of the Shelf Notice,
file with the SEC a Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 covering all of the Transfer Restricted Securities (the “Initial Shelf Registration Statement”). If applicable law or
interpretations of the staff of the SEC would not permit the consummation of the Exchange Offer, the Company shall (and shall cause each Guarantor to) use its reasonable best efforts to cause such Initial Shelf Registration Statement to be declared
effective under the Securities Act on or prior to the Effectiveness Date. Otherwise, the Company shall (and shall cause each Guarantor to) use its best efforts to cause such Shelf Registration Statement to be declared effective under the Securities
Act on or prior to the 180th day after the date on which
the Initial Shelf Registration Statement is required to be filed. The Initial Shelf Registration Statement shall be on Form S-1 or another appropriate form permitting registration of such Transfer Restricted Securities for resale by Holders in the
manner or manners reasonably designated by them (including, without limitation, one or more underwritten offerings). The Company and Guarantors shall not permit any securities other than the Transfer Restricted Securities to be included in any Shelf
Registration Statement. The Company shall (and shall cause each Guarantor to) use its best efforts to keep the Initial Shelf Registration Statement continuously effective under the Securities Act until the date which is two years from the Closing
Date (subject to extension pursuant to the last paragraph of Section 6(w) (the “Effectiveness Period”), or such shorter period ending when (i) all Transfer Restricted Securities covered by the Initial Shelf Registration
Statement have been sold in the manner set forth and as contemplated in the Initial Shelf Registration Statement, (ii) a Subsequent Shelf Registration Statement covering all of the Transfer Restricted Securities covered by and not sold under
the Initial Shelf Registration Statement or an earlier Subsequent Shelf Registration Statement has been declared effective under the Securities Act, (iii) all Transfer Restricted Securities can be sold by non-affiliates of the Company pursuant
to Rule 144 without any limitations under Rule 144 or (iv) there cease to be any outstanding Transfer Restricted Securities. 

	 	(b)	Subsequent Shelf Registration Statements. If the Initial Shelf Registration Statement or any Subsequent Shelf Registration Statement (as defined below) ceases to
be effective for any reason at any time during the Effectiveness Period (other than because of the sale of all of the securities registered thereunder), the Company shall (and shall cause each Guarantor to) use its best efforts to obtain the prompt
withdrawal of any order suspending the effectiveness thereof, and in any event shall within 30 days of such cessation of effectiveness amend such Shelf Registration Statement in a manner to obtain the withdrawal of the order suspending the
effectiveness thereof, or file (and cause each Guarantor to file) an additional “shelf” Registration Statement pursuant to Rule 415 covering all of the Transfer Restricted Securities (a “Subsequent Shelf Registration
Statement”). If a Subsequent Shelf Registration Statement is filed, the Company shall (and shall cause each Guarantor to) use its best efforts to cause the Subsequent Shelf Registration Statement to be declared effective as soon as
practicable after such filing and to keep such Subsequent Shelf Registration Statement continuously effective for a period equal to the number of days in the Effectiveness Period less the aggregate number of days during which the Initial Shelf
Registration Statement or any Subsequent Shelf Registration Statement was previously continuously effective. As used herein the term “Shelf Registration Statement” means the Initial Shelf Registration Statement and any Subsequent
Shelf Registration Statements 

  

	 	(c)	Supplements and Amendments. The Company shall promptly supplement and amend any Shelf Registration Statement if required by the rules, regulations or
instructions applicable to the registration form used for such Shelf Registration Statement, if required by the Securities Act, or if reasonably requested in writing by the Holders of a majority in aggregate principal amount of the Transfer
Restricted Securities covered by such Shelf Registration Statement or by any underwriter of such Transfer Restricted Securities. 

  

	 	(d)	Provision of Information. No Holder of Transfer Restricted Securities shall be entitled to include any of its Transfer Restricted Securities in any Shelf
Registration Statement pursuant to this Agreement unless such Holder furnishes to the Company and the Trustee in writing, within 20 days after receipt of a written request therefor, such information as the Company and the Trustee after conferring
with counsel with regard to information relating to Holders that would be required by the SEC to be included in such Shelf Registration Statement or Prospectus included therein, may reasonably request for inclusion in any Shelf Registration
Statement or Prospectus included therein, and no such Holder shall be entitled to Additional Interest pursuant to Section 4 hereof unless and until such Holder shall have provided such information. The Company may refuse to name any Holder who
fails to provide such information to the Company within 20 days after receipt by the Holder of a written request therefor. 

	4.	Additional Interest 

  

	 	(a)	The Company and each Guarantor acknowledges and agrees that the Holders of Transfer Restricted Securities will suffer damages if the Company or any Guarantor fails to
fulfill its material obligations under Section 2 or Section 3 hereof and that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, the Company and the Guarantors agree to pay additional cash
interest on the Notes (“Additional Interest”) under the circumstances and to the extent set forth below (each of which shall be given independent effect): 

 

	 	(i)	 if (A) the Exchange Offer Registration Statement has not been filed on or prior to the Filing Date or (B) in the event the Company and the
Guarantors are obligated to file an Initial Shelf Registration Statement pursuant to Section 2(i) and Section 3 above and such Initial Shelf Registration Statement has not been filed on the 90th day (the “Shelf Filing Date”) after the date on
which the obligation to file the Shelf Registration Statement arises, and if such default is not cured within 30 calendar days of the date on which such default occurred, Additional Interest shall accrue on the Notes over and above any stated
interest at a rate of 0.25% per annum of the principal amount of such Notes for the first 90 days immediately following the date on which such default occurred, such Additional Interest rate increasing by an additional 0.25% per annum at
the beginning of each subsequent 90-day period; 

  

	 	(ii)	 if the Exchange Offer Registration Statement is not declared effective on or prior to the Effectiveness Date or, if required to be filed pursuant to
Section 2(i) and Section 3 above, the Initial Shelf Registration Statement is not declared effective on or prior to the Effectiveness Date, or if required to be filed pursuant to Section 2 and Section 3 above, the Shelf
Registration Statement is not declared effective on or prior to the 90th day after the Shelf Filing Date, and if such default is not cured within 30 calendar days of the date on which such default occurred, Additional Interest shall accrue on the Notes over and above any
stated interest at a rate of 0.25% per annum of the principal amount of such Notes for the first 90 days immediately following the Effectiveness Date, such Additional Interest rate increasing by an additional 0.25% per annum at the
beginning of each subsequent 90-day period; 

  

	 	(iii)	 if (A) the Exchange Offer is not consummated on or prior to the 40th Business Day after the Effectiveness Date, (B) the Exchange Offer Registration Statement ceases to be effective
at any time prior to the time that the Exchange Offer is consummated, or (C) if applicable, a Shelf Registration Statement has been declared effective and such Shelf Registration Statement ceases to be effective at any time prior to the second
anniversary of its effective date (other than such time as all Notes have been disposed of thereunder), and if such default is not cured within 

	 	 
30 calendar days of the date on which such default occurred, then Additional Interest shall accrue on the Notes, over and above any stated interest, at a rate of 0.25% per annum of the
principal amount of such Notes commencing on (w) the 40th Business Day after the Effectiveness Date, in the case of (A) above, or (x) the date the Exchange Offer Registration Statement ceases to be effective without being declared effective again
within 30 days, in the case of (B) above, or (y) the day such Shelf Registration Statement ceases to be effective in the case of (C) above, such Additional Interest rate increasing by an additional 0.25% per annum at the
beginning of each such subsequent 90-day period; 

 provided, however, that the maximum Additional
Interest rate on the Notes may not exceed at any one time in the aggregate 1.00% per annum; and provided further, that (1) upon the filing of the Exchange Offer Registration Statement or Initial Shelf Registration Statement (in the
case of (i) above), (2) upon the effectiveness of the Exchange Offer Registration Statement or Initial Shelf Registration Statement (in the case of (ii) above), (3) upon the exchange of Exchange Notes for all Notes tendered (in
the case of (iii)(A) above), or upon the effectiveness of the Exchange Offer Registration Statement that had ceased to remain effective (in the case of (iii)(B) above), or upon the effectiveness of a Shelf Registration Statement which had ceased to
remain effective (in the case of (iii)(C) above), Additional Interest on the Notes as a result of such clause (or the relevant subclause thereof) or upon the effectiveness of such Registration Statement or Exchange Offer Registration Statement, as
the case may be, shall cease to accrue. Accrued Additional Interest shall be paid from and including the date on which any of the defaults described in (i) through (iii) above occurred to but excluding the earlier of (i) the date on
which Additional Interest would cease to accrue upon the cessation of the applicable event or events of default described in (1), (2) and/or (3) above or (ii) the date on which all of the Transfer Restricted Securities, other than
certificated notes held by affiliates of the Company, otherwise become freely tradable by all Holders, without further Registration under the Securities Act. The accrual and payment of Additional Interest shall be the sole remedy available to any
Holder upon the occurrence of any event of default descried in Section 4(a)(i) through Section 4(a)(iii) herein. 
  

	 	(b)	 The Company shall notify the Trustee within five Business Days after each and every date on which an event occurs in respect of which Additional
Interest is required to be paid (an “Event Date”). Any amounts of Additional Interest due pursuant to (a)(i), (a)(ii) or (a)(iii) of this Section 4 will be payable in cash, on the dates and in the manner provided in the
Indenture and whether or not any cash interest would then be payable on such date, commencing with the first such semi-annual date occurring after any such Additional Interest commences to accrue. The amount of Additional Interest will be determined
by multiplying the applicable Additional Interest rate by the principal amount of the Notes, multiplied by a fraction, the numerator of which is the number of days such Additional Interest rate was applicable during such period (determined on the
basis of a 360-day year comprised of twelve 30-day months and, in the case of a 

	 	 
partial month, the actual number of days elapsed), and the denominator of which is 360. 

  

	5.	Hold-Back Agreements 

 The Company agrees that it will not effect any public or private sale or distribution (including a sale pursuant to Regulation D under the Securities Act) of any securities the same as or similar to those
covered by a Registration Statement filed pursuant to Section 2 or 3 hereof (other than Additional Notes (as defined in the Indenture) issued under the Indenture), or any securities convertible into or exchangeable or exercisable for such
securities, during the 10 days prior to, and during the 90-day period beginning on, the effective date of any Registration Statement filed pursuant to Sections 2 and 3 hereof unless the Holders of a majority in the aggregate principal amount of the
Transfer Restricted Securities to be included in such Registration Statement consent. 
  

	6.	Registration Procedures 

 In connection with the filing of any Registration Statement pursuant to Sections 2 or 3 hereof, the Company shall (and shall cause each Guarantor to) effect such registrations to permit the sale of such
securities covered thereby in accordance with the intended method or methods of disposition thereof, and pursuant thereto and in connection with any Registration Statement filed by the Company hereunder, the Company shall (and shall cause each
Guarantor to): 
  

	 	(a)	 Prepare and file with the SEC as soon as practicable after the date hereof but in any event on or prior to the Filing Date, the Exchange Offer
Registration Statement or if the Exchange Offer Registration Statement is not filed because of the circumstances contemplated by Section 2(i), a Shelf Registration Statement as prescribed by Section 3, and use its best efforts to cause
each such Registration Statement to become effective and remain effective as provided herein; provided that, if (1) a Shelf Registration Statement is filed pursuant to Section 3 or (2) a Prospectus contained in an Exchange
Offer Registration Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto, before filing any
Registration Statement or Prospectus or any amendments or supplements thereto the Company shall (and shall cause each Guarantor to), if requested, furnish to and afford the Holders of the Transfer Restricted Securities to be registered pursuant to
such Shelf Registration Statement Statement, each Participating Broker-Dealer, the managing underwriters, if any, and each of their respective counsel, a reasonable opportunity to review copies of all such documents (including copies of any
documents to be incorporated by reference therein and all exhibits thereto) proposed to be filed (in each case at least five Business Days prior to such filing). The Company and each Guarantor shall not file any such Registration Statement or
Prospectus or any amendments or supplements thereto in respect of which the Holders must provide information for the inclusion therein without the Holders being afforded an opportunity to review such documentation if the holders of a majority in
aggregate principal amount 

	 	 
of the Transfer Restricted Securities covered by such Registration Statement, or any such Participating Broker-Dealer, as the case may be, the managing underwriters, if any, or any of their
respective counsel shall reasonably object in writing on a timely basis. A Holder shall be deemed to have reasonably objected to such filing if such Registration Statement, amendment, Prospectus or supplement, as applicable, as proposed to be filed,
contains an untrue statement of a material fact or omits to state any material fact necessary to make the statements therein not misleading or fails to comply with the applicable requirements of the Securities Act. 

 

	 	(b)	Provide an indenture trustee for the Transfer Restricted Securities or the Exchange Notes, as the case may be, and cause the Indenture (or other indenture relating to
the Transfer Restricted Securities) to be qualified under the TIA not later than the effective date of the first Registration Statement; and in connection therewith, to effect such changes to such indenture as may be required for such indenture to
be so qualified in accordance with the terms of the TIA; and execute, and use its best efforts to cause such trustee to execute, all documents as may be required to effect such changes, and all other forms and documents required to be filed with the
SEC to enable such indenture to be so qualified in a timely manner. 

  

	 	(c)	Prepare and file with the SEC such pre-effective amendments and post-effective amendments to each Shelf Registration Statement or Exchange Offer Registration Statement,
as the case may be, as may be necessary to keep such Registration Statement continuously effective for the Effectiveness Period or the Applicable Period, as the case may be; cause the related Prospectus to be supplemented by any Prospectus
supplement required by applicable law, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) promulgated under the Securities Act; and comply with the provisions of the Securities Act and the Exchange Act
applicable to them with respect to the disposition of all securities covered by such Registration Statement as so amended or in such Prospectus as so supplemented and with respect to the subsequent resale of any securities being sold by a
Participating Broker-Dealer covered by any such Prospectus. The Company and each Guarantor shall not, during the Applicable Period, voluntarily take any action that would result in selling Holders of the Transfer Restricted Securities covered by a
Registration Statement or Participating Broker-Dealers seeking to sell Exchange Notes not being able to sell such Transfer Restricted Securities or such Exchange Notes during that period, unless such action is required by applicable law, rule or
regulation or permitted by this Agreement. 

  

	 	(d)	 Furnish to such selling Holders and Participating Broker-Dealers who so request in writing (i) upon the Company’s receipt, a copy of the
order of the SEC declaring such Registration Statement and any post-effective amendment thereto effective, (ii) such reasonable number of copies of such Registration Statement and of each amendment and supplement thereto (in each case including
any documents incorporated therein by reference and all exhibits), 

	 	 
(iii) such reasonable number of copies of the Prospectus included in such Registration Statement (including each preliminary Prospectus) and each amendment and supplement thereto, and such
reasonable number of copies of the final Prospectus as filed by the Company and each Guarantor pursuant to Rule 424(b) under the Securities Act, in conformity with the requirements of the Securities Act and each amendment and supplement thereto, and
(iv) such other documents (including any amendments required to be filed pursuant to clause (c) of this Section), as any such Person may reasonably request in writing. The Company and the Guarantors hereby consent to the use of the Prospectus
by each of the selling Holders of Transfer Restricted Securities or each such Participating Broker-Dealer, as the case may be, and the underwriters or agents, if any, and dealers, if any, in connection with the offering and sale of the Transfer
Restricted Securities covered by, or the sale by Participating Broker- Dealers of the Exchange Notes pursuant to, such Prospectus and any amendment or supplement thereto. 

 

	 	(e)	 If (1) a Shelf Registration Statement is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Offer Registration
Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period relating thereto, the Company shall notify in writing
the selling Holders of Transfer Restricted Securities, or each such Participating Broker-Dealer, as the case may be, the managing underwriters, if any, and each of their respective counsel promptly (but in any event within 2 Business Days) (i) when
a Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective (including in such notice a written statement
that any Holder may, upon request, obtain, without charge, one conformed copy of such Registration Statement or post- effective amendment including financial statements and schedules, documents incorporated or deemed to be incorporated by reference
and exhibits), (ii) of the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of any Prospectus or the initiation of any proceedings for that purpose,
(iii) if at any time when a Prospectus is required by the Securities Act to be delivered in connection with sales of the Transfer Restricted Securities the representations and warranties of the Company and any Guarantor contained in any
agreement (including any underwriting agreement) contemplated by Section 6(n) hereof cease to be true and correct, (iv) of the receipt by the Company or any Guarantor of any notification with respect to the suspension of the qualification
or exemption from qualification of a Registration Statement or any of the Transfer Restricted Securities or the Exchange Notes to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the initiation or threatening of
any proceeding for such purpose, (v) of the happening of any event, the existence of any condition of any information becoming known that makes any statement made in such Registration Statement or related Prospectus or any document incorporated
or deemed to be incorporated therein by reference 

	 	 
untrue in any material respect or that requires the making of any changes in, or amendments or supplements to, such Registration Statement, Prospectus or documents so that, in the case of the
Registration Statement and the Prospectus, it will 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, in light of the circumstances under
which they were made, not misleading, (vi) of any reasonable determination by the Company or any Guarantor that a post-effective amendment to a Registration Statement would be appropriate and (vii) of any request by the SEC for amendments
to the Registration Statement or supplements to the Prospectus or for additional information relating thereto. 

  

	 	(f)	Use its best efforts to prevent the issuance of any order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of a
Prospectus or suspending the qualification (or exemption from qualification) of any of the Transfer Restricted Securities or the Exchange Notes to be sold by any Participating Broker-Dealer, for sale in any jurisdiction, and, if any such order is
issued, to use its best efforts to obtain the withdrawal of any such order at the earliest possible date. 

  

	 	(g)	If (A) a Shelf Registration Statement is filed pursuant to Section 3, (B) a Prospectus contained in an Exchange Offer Registration Statement filed
pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period or (C) reasonably requested in writing by the managing
underwriters, if any, or the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities being sold in connection with an underwritten offering, (i) promptly incorporate in a Prospectus supplement or post-effective
amendment such information or revisions to information therein relating to such underwriters or selling Holders as the managing underwriters, if any, or such Holders or any of their respective counsel reasonably request in writing to be included or
made therein and (ii) make all required filings of such Prospectus supplement or such post-effective amendment as soon as practicable after the Company has received notification of the matters to be incorporated in such Prospectus supplements
or post-effective amendment. 

  

	 	(h)	 Prior to any public offering of Transfer Restricted Securities or any delivery of a Prospectus contained in the Exchange Offer Registration Statement
by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, use its best efforts to register or qualify, and to cooperate with the selling Holders of Transfer Restricted Securities or each such Participating
Broker-Dealer, as the case may be, the underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption from such registration or qualification) of such Transfer Restricted Securities or Exchange
Notes, as the case may be, for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any selling Holder, Participating Broker-Dealer or any managing underwriter or

	 	 
underwriters, if any, reasonably request in writing; provided, that where Exchange Notes held by Participating Broker-Dealers or Transfer Restricted Securities are offered other than
through an underwritten offering, the Company and each Guarantor agree to cause its counsel to perform Blue Sky investigations and file any registrations and qualifications required to be filed pursuant to this Section 6(h), keep each such
registration or qualification (or exemption therefrom) effective during the period such Registration Statement is required to be kept effective and do any and all other acts or things reasonably necessary or advisable to enable the disposition in
such jurisdictions of the Exchange Notes held by Participating Broker-Dealers or the Transfer Restricted Securities covered by the applicable Registration Statement; provided that neither the Company nor any Guarantor shall be required to
(A) qualify generally to do business in any jurisdiction where it is not then so qualified, (B) take any action that would subject it to general service of process in any such jurisdiction where it is not then so subject or
(C) subject itself to taxation in any such jurisdiction where it is not then so subject. 

  

	 	(i)	If (A) a Shelf Registration Statement is filed pursuant to Section 3 or (B) a Prospectus contained in an Exchange Offer Registration Statement filed
pursuant to Section 2 is requested to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, cooperate with the selling Holders of Transfer Restricted Securities
and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Transfer Restricted Securities to be sold, which certificates shall not bear any restrictive legends and shall be in
a form eligible for deposit with The Depository Trust Company, and enable such Transfer Restricted Securities to be in such denominations and registered in such names as the managing underwriter or underwriters, if any, or Holders may reasonably
request. 

  

	 	(j)	Use its best efforts to cause the Transfer Restricted Securities covered by any Registration Statement to be registered with or approved by such governmental agencies
or authorities as may be necessary to enable the seller or sellers thereof or the underwriter, if any, to consummate the disposition of such Transfer Restricted Securities, except as may be required solely as a consequence of the nature of such
selling Holder’s business, in which case the Company shall (and shall cause each Guarantor to) cooperate in all reasonable respects with the filing of such Registration Statement and the granting of such approvals; provided that neither
the Company nor any existing Guarantor shall be required to (A) qualify generally to do business in any jurisdiction where it is not then so qualified, (B) take any action that would subject it to general service of process in any
jurisdiction where it is not then so subject or (C) subject itself to taxation in any such jurisdiction where it is not then so subject. 

  

	 	(k)	 If (1) a Shelf Registration Statement is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Offer Registration
Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any 

	 	 
Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, upon the occurrence of any event contemplated by paragraph 6(e)(v) or 6(e)(vi) hereof, as promptly as
practicable, prepare and file with the SEC, at the expense of the Company and the Guarantors , a supplement or post- effective amendment to the Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed
to be incorporated therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of the Transfer Restricted Securities being sold thereunder or to the purchasers of the Exchange Notes to whom such
Prospectus will be delivered by a Participating Broker-Dealer, such Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading, and, if SEC review is required, use its best efforts to cause such post-effective amendment to be declared effective as soon as possible. 

 

	 	(l)	Use its best efforts to cause the Transfer Restricted Securities covered by a Registration Statement to be rated with such appropriate rating agencies, if so requested
in writing by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities covered by such Registration Statement or the managing underwriter or underwriters, if any. 

 

	 	(m)	Prior to the initial issuance of the Exchange Notes, (i) provide the Trustee with one or more certificates for the Transfer Restricted Securities in a form
eligible for deposit with The Depository Trust Company and (ii) provide a CUSIP number for the Exchange Notes. 

  

	 	(n)	 If a Shelf Registration Statement is filed pursuant to Section 3, enter into such agreements (including an underwriting agreement in form, scope
and substance as is customary in underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances) and take all such other actions in connection therewith (including those reasonably requested in writing by
the managing underwriters, if any, or the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities being sold) in order to expedite or facilitate the registration or the disposition of such Transfer Restricted
Securities, and in such connection, whether or not an underwriting agreement is entered into and whether or not the registration is an Underwritten Registration, (i) make such representations and warranties to the Holders and the underwriters,
if any, with respect to the business of the Company and its subsidiaries as then conducted, and the Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, in form,
substance and scope as are customarily made by issuers to underwriters in underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances, and confirm the same if and when reasonably required;
(ii) obtain an opinion of counsel to the Company and the Guarantors and updates thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the managing underwriters, if

	 	 
any, and the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities being sold), addressed to each selling Holder and each of the underwriters, if any, covering
the matters customarily covered in opinions of counsel to the Company and the Guarantors requested in underwritten offerings of debt securities similar to the Notes, as may be appropriate in the circumstances; (iii) obtain “cold
comfort” letters and updates thereof (which letters and updates (in form, scope and substance) shall be reasonably satisfactory to the managing underwriters) from the independent certified public accountants of the Company and the Guarantors
(and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business acquired by the Company for which financial statements and financial data are, or are required to be, included in the
Registration Statement), addressed to each of the underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with underwritten offerings of debt
securities similar to the Notes, as may be appropriate in the circumstances, and such other matters as reasonably requested in writing by the underwriters; and (iv) deliver such documents and certificates as may be reasonably requested in
writing by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities being sold and the managing underwriters, if any, to evidence the continued validity of the representations and warranties of the Company and
its subsidiaries made pursuant to clause (i) above and to evidence compliance with any conditions contained in the underwriting agreement or other similar agreement entered into by the Company or any Guarantor. 

 

	 	(o)	 If (1) a Shelf Registration Statement is filed pursuant to Section 3, or (2) a Prospectus contained in an Exchange Offer Registration
Statement filed pursuant to Section 2 is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, make available for inspection by any selling Holder of
such Transfer Restricted Securities being sold, or each such Participating Broker- Dealer, as the case may be, any underwriter participating in any such disposition of Transfer Restricted Securities, if any, and any attorney, accountant or other
agent retained by any such selling Holder or each such Participating Broker- Dealer, as the case may be, or underwriter (collectively, the “Inspectors”), at the offices where normally kept, during reasonable business hours, all
financial and other records and pertinent corporate documents of the Company and its subsidiaries (collectively, the “Records”) as shall be reasonably necessary to enable them to exercise any applicable due diligence
responsibilities, and cause the officers, directors and employees of the Company and its subsidiaries to supply all information reasonably requested in writing by any such Inspector in connection with such Registration Statement. Each Inspector
shall agree in writing that it will keep the Records confidential and not disclose any of the Records unless (i) the disclosure of such Records is necessary to avoid or correct a misstatement or omission in such Registration Statement,
(ii) the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, (iii) the information in such Records is public or

	 	 
has been made generally available to the public other than as a result of a disclosure or failure to safeguard by such Inspector or (iv) disclosure of such information is, in the reasonable
written opinion of counsel for any Inspector, necessary or advisable in connection with any action, claim, suit or proceeding, directly or indirectly, involving or potentially involving such Inspector and arising out of, based upon, related to, or
involving this Agreement, or any transaction contemplated hereby or arising hereunder. Each selling Holder of such Transfer Restricted Securities and each such Participating Broker-Dealer will be required to agree that information obtained by it as
a result of such inspections shall be deemed confidential and shall not be used by it as the basis for any market transactions in the securities of the Company unless and until such is made generally available to the public. Each Inspector, each
selling Holder of such Transfer Restricted Securities and each such Participating Broker-Dealer will be required to further agree that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice
to the Company and, to the extent practicable, use its best efforts to allow the Company, at its expense, to undertake appropriate action to prevent disclosure of the Records deemed confidential at its expense. 

 

	 	(p)	Comply with all applicable rules and regulations of the SEC and make generally available to the security holders of the Company with regard to any Applicable
Registration Statement earning statements satisfying the provisions of section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 45 days after the end of any 12-month period
(or 90 days after the end of any 12-month period if such period is a fiscal year) (i) 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 and (ii) if not sold to underwriters in such an offering, commencing on the first day of the first fiscal quarter of the Company after the effective date of a Registration Statement, which statements shall cover said 12-month periods.

  

	 	(q)	Upon consummation of an Exchange Offer, obtain an opinion of counsel to the Company and the Guarantors (in form, scope and substance reasonably satisfactory to the
Initial Purchasers), addressed to the Trustee for the benefit of all Holders participating in the Exchange Offer, to the effect that (i) the Company and the Guarantors have duly authorized, executed and delivered the Exchange Notes, and the
Indenture and (ii) the Exchange Notes, and the Indenture constitute legal, valid and binding obligations of the Company and the Guarantors, enforceable against the Company and the Guarantors in accordance with their respective terms, except as
such enforcement may be subject to customary United States and foreign exceptions. 

  

	 	(r)	 If the Exchange Offer is to be consummated, upon delivery of the Transfer Restricted Securities by the Holders to the Company and the Guarantors (or to
such other Person as directed by the Company and the Guarantors) in exchange for the Exchange Notes, the Company and the Guarantors shall mark, or caused 

	 	 
to be marked, on such Transfer Restricted Securities that the Exchange Notes, are being issued as substitute evidence of the indebtedness originally evidenced by the Transfer Restricted
Securities; provided that in no event shall such Transfer Restricted Securities be marked as paid or otherwise satisfied. 

  

	 	(s)	Cooperate with each seller of Transfer Restricted Securities covered by any Registration Statement and each underwriter, if any, participating in the disposition of
such Transfer Restricted Securities and their respective counsel in connection with any filings required to be made with FINRA. 

  

	 	(t)	Use its best efforts to cause all Securities covered by a Registration Statement to be listed on each securities exchange, if any, on which similar debt securities
issued by the Company are then listed. 

  

	 	(u)	Use its best efforts to take all other steps reasonably necessary to effect the registration of the Transfer Restricted Securities covered by a Registration Statement
contemplated hereby. 

  

	 	(v)	The Company may require each seller of Transfer Restricted Securities or Participating Broker-Dealer as to which any registration is being effected to furnish to the
Company such information regarding such seller or Participating Broker-Dealer and the distribution of such Transfer Restricted Securities as the Company may, from time to time, reasonably request in writing. The Company may exclude from such
registration the Transfer Restricted Securities of any seller who fails to furnish such information within a reasonable time (which time in no event shall exceed 45 days, subject to Section 3(d)) hereof) after receiving such request. Each
seller of Transfer Restricted Securities or Participating Broker-Dealer as to which any registration is being effected agrees to furnish promptly to the Company all information required to be disclosed in order to make the information previously
furnished by such seller not materially misleading. 

  

	 	(w)	 Each Holder of Transfer Restricted Securities and each Participating Broker- Dealer agrees by acquisition of such Transfer Restricted Securities or
Exchange Notes to be sold by such Participating Broker-Dealer, as the case may be, that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 6(e)(ii), 6(e)(iv), 6(e)(v), or 6(e)(vi), such
Holder will forthwith discontinue disposition of such Transfer Restricted Securities covered by a Registration Statement and such Participating Broker-Dealer will forthwith discontinue disposition of such Exchange Notes pursuant to any Prospectus
and, in each case, forthwith discontinue dissemination of such Prospectus until such Holder’s or Participating Broker-Dealer’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 6(k), or until it
is advised in writing (the “Advice”) by the Company and the Guarantors that the use of the applicable Prospectus may be resumed, and has received copies of any amendments or supplements thereto and, if so directed by the Company and
the Guarantors, such Holder or Participating Broker-

	 	 
Dealer, as the case may be, will deliver to the Company all copies, other than permanent file copies, then in such Holder’s or Participating Broker-Dealer’s possession, of the
Prospectus covering such Transfer Restricted Securities current at the time of the receipt of such notice. In the event the Company and the Guarantors shall give any such notice, the Applicable Period shall be extended by the number of days during
such periods from and including the date of the giving of such notice to and including the date when each Participating Broker-Dealer shall have received (x) the copies of the supplemented or amended Prospectus contemplated by Section 6(k)
or (y) the Advice. 

  

	7.	Registration Expenses 

  

	 	(a)	 All fees and expenses incident to the performance of or compliance with this Agreement by the Company and the Guarantors shall be borne by the Company
and the Guarantors, whether or not the Exchange Offer or a Shelf Registration Statement is filed or becomes effective, including, without limitation, (i) all registration and filing fees, including, without limitation, (A) fees with
respect to filings required to be made with FINRA in connection with any underwritten offering and (B) fees and expenses of compliance with state securities or Blue Sky laws as provided in Section 6(h) hereof (including, without
limitation, reasonable fees and disbursements of counsel in connection with Blue Sky qualifications of the Transfer Restricted Securities or Exchange Notes and determination of the eligibility of the Transfer Restricted Securities or Exchange Notes
for investment under the laws of such jurisdictions (x) where the Holders are located, in the case of the Exchange Notes, or (y) as provided in Section 6(h), in the case of Transfer Restricted Securities or Exchange Notes to be sold
by a Participating Broker-Dealer during the Applicable Period)), (ii) printing expenses, including, without limitation, expenses of printing Prospectuses if the printing of Prospectuses is requested by the managing underwriter or underwriters,
if any, or by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities included in any Registration Statement or by any Participating Broker-Dealer during the Applicable Period, as the case may be,
(iii) messenger, telephone and delivery expenses incurred in connection with the performance of their obligations hereunder, (iv) fees and disbursements of counsel for the Company, the Guarantors, (v) fees and disbursements of all
independent certified public accountants referred to in Section 6 (including, without limitation, the expenses of any special audit and “cold comfort” letters required by or incident to such performance), (vi) rating agency fees
and the fees and expenses incurred in connection with the listing of the Securities to be registered on any securities exchange, (vii) Securities Act liability insurance, if the Company and the Guarantors desire such insurance, (viii) fees
and expenses of all other Persons retained by the Company and the Guarantors, (ix) fees and expenses of any “qualified independent underwriter” or other independent appraiser participating in an offering pursuant to Section 3 of
Schedule E to the By-laws of FINRA, but only where the need for such a “qualified independent underwriter” arises due to a relationship with the Company and the Guarantors, (x) internal expenses of the Company and the

	 	 
Guarantors (including, without limitation, all salaries and expenses of officers and employees of the Company or the Guarantors performing legal or accounting duties), (xi) the expense of
any annual audit, (xii) the fees and expenses of the Trustee and the Exchange Agent and (xiii) the expenses relating to printing, word processing and distributing all Registration Statements, underwriting agreements, securities sales
agreements, indentures and any other documents necessary in order to comply with this Agreement. 

  

	 	(b)	The Company and the Guarantors shall pay all documentary, stamp, transfer or other transactional taxes attributable to the issuance or delivery of the Exchange Notes in
exchange for the Notes; provided that the Company shall not be required to pay taxes payable in respect of any transfer involved in the issuance or delivery of any Exchange Notes in a name other than that of the Holder of the Note in respect
of which such Exchange Note is being issued. The Company and the Guarantors shall reimburse the Holders for fees and expenses (including reasonable fees and expenses of counsel to the Holders) relating to any enforcement of any rights of the Holders
under this Agreement. 

  

	8.	Indemnification 

  

	 	(a)	 Indemnification by the Company and the Guarantors. The Company and the Guarantors jointly and severally agree to indemnify and hold harmless
each Holder of Transfer Restricted Securities, Exchange Notes and each Participating Broker-Dealer selling Exchange Notes during the Applicable Period, each Person, if any, who controls each such Holder (within the meaning of Section 15 of the
Securities Act or Section 20(a) of the Exchange Act) and the officers, directors and partners of each such Holder, Participating Broker-Dealer and controlling person, to the fullest extent lawful, from and against any and all losses, claims,
damages, liabilities, costs (including, without limitation, reasonable costs of preparation and reasonable attorneys’ fees as provided in this Section 8) and expenses (including, without limitation, reasonable costs and expenses incurred
in connection with investigating, preparing, pursuing or defending against any of the foregoing) (collectively, “Losses”), as incurred, directly or indirectly caused by, related to, based upon, arising out of or in connection with
any untrue or alleged untrue statement of a material fact contained in any Registration Statement, Prospectus or form of prospectus, or in any amendment or supplement thereto, or in any preliminary prospectus, or any omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, except insofar as such Losses are solely based upon information
relating to such Holder or Participating Broker- Dealer and furnished in writing to the Company and the Guarantors by such Holder or Participating Broker-Dealer or their counsel expressly for use therein. The Company and the Guarantors also agree to
indemnify underwriters, selling brokers, dealer managers and similar securities industry professionals participating in the distribution, their officers, directors, agents and employees and each Person who controls such Persons (within the meaning
of Section 5 of 

	 	 
the Securities Act or Section 20(a) of the Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders or the Participating Broker-Dealer.

  

	 	(b)	Indemnification by Holder. In connection with any Registration Statement, Prospectus or form of prospectus, any amendment or supplement thereto, or any
preliminary prospectus in which a Holder is participating, such Holder shall furnish to the Company and the Guarantors in writing such information as the Company and the Guarantors reasonably request for use in connection with any Registration
Statement, Prospectus or form of prospectus, any amendment or supplement thereto, or any preliminary prospectus and shall indemnify and hold harmless the Company, the Guarantors, their respective directors and each Person, if any, who controls the
Company and the Guarantors (within the meaning of Section 15 of the Securities Act and Section 20(a) of the Exchange Act), and the directors, officers and partners of such controlling persons, to the fullest extent lawful, from and against
all Losses arising out of or based upon any untrue or alleged untrue statement of a material fact contained in any Registration Statement, Prospectus or form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus,
or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading to the extent, but only to
the extent, that such losses are finally judicially determined by a court of competent jurisdiction in a final, unappealable order to have resulted solely from an untrue statement or alleged untrue statement of a material fact or omission or alleged
omission of a material fact contained in or omitted from any information so furnished in writing by such Holder to the Company and the Guarantors expressly for use therein. Notwithstanding the foregoing, in no event shall the liability of any
selling Holder be greater in amount than such Holder’s Maximum Contribution Amount (as defined below). 

  

	 	(c)	Conduct of Indemnification Proceedings. If any proceeding shall be brought or asserted against any Person entitled to indemnity hereunder (an
“Indemnified Party”), such Indemnified Party shall promptly notify the party or parties from which such indemnity is sought (the “Indemnifying Party” or “Indemnifying Parties”, as applicable) in
writing; but the omission to so notify the Indemnifying Party (i) will not relieve such Indemnifying Party from any liability under paragraph (a) or (b) above unless and only to the extent it is materially prejudiced as a result
thereof and (ii) will not, in any event, relieve the Indemnifying Party from any obligations to any Indemnified Party other than the indemnification obligation provided in paragraphs (a) and (b) above. 

The Indemnifying Party shall have the right, exercisable by giving written notice to an Indemnified Party, within 20 Business Days after
receipt of written notice from such Indemnified Party of such proceeding, to assume, at its expense, the defense of any such proceeding; provided, that an Indemnified Party shall have the right to employ separate counsel in any such
proceeding and to participate in the defense thereof, but the fees and expenses of such counsel 

 
shall be at the expense of such Indemnified Party or parties unless: (1) the Indemnifying Party has agreed to pay such fees and expenses; or (2) the Indemnifying Party shall have failed
promptly to assume the defense of such proceeding or shall have failed to employ counsel reasonably satisfactory to such Indemnified Party; or (3) the named parties to any such proceeding (including any impleaded parties) include both such
Indemnified Party and the Indemnifying Party or any of its affiliates or controlling persons, and such Indemnified Party shall have been advised by counsel that there may be one or more defenses available to such Indemnified Party that are in
addition to, or in conflict with, those defenses available to the Indemnifying Party or such affiliate or controlling person (in which case, if such Indemnified Party notifies the Indemnifying Parties in writing that it elects to employ separate
counsel at the expense of the Indemnifying Parties, the Indemnifying Parties shall not have the right to assume the defense and the reasonable fees and expenses of such counsel shall be at the expense of the Indemnifying Party; it being understood,
however, that, the Indemnifying Party shall not, in connection with any one such proceeding or separate but substantially similar or related proceedings in the same jurisdiction, arising out of the same general allegations or circumstances, be
liable for the fees and expenses of more than one separate firm of attorneys (together with appropriate local counsel) at any time for such Indemnified Party). 
 No Indemnifying Party shall be liable for any settlement of any such proceeding effected without its written consent, which shall not be unreasonably withheld, but if settled with its written consent, or
if there be a final judgment for the plaintiff in any such proceeding, each Indemnifying Party jointly and severally agrees, subject to the exceptions and limitations set forth above, to indemnify and hold harmless each Indemnified Party from and
against any and all Losses by reason of such settlement or judgment. The Indemnifying Party shall not consent to the entry of any judgment or enter into any settlement unless such judgment or settlement (i) includes as an unconditional term
thereof the giving by the claimant or plaintiff to each Indemnified Party of a release, in form and substance reasonably satisfactory to the Indemnified Party, from all liability in respect of such proceeding for which such Indemnified Party would
be entitled to indemnification hereunder (whether or not any Indemnified Party is a party thereto) and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any Indemnified Party.

  

	 	(d)	 Contribution. If the indemnification provided for in this Section 8 is unavailable to an Indemnified Party or is insufficient to hold such
Indemnified Party harmless for any Losses in respect of which this Section 8 would otherwise apply by its terms (other than by reason of exceptions provided in this Section 8), then each applicable Indemnifying Party, in lieu of
indemnifying such Indemnified Party, shall have a joint and several obligation to contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative fault of
the Indemnifying Party, on the one hand, and such Indemnified Party, on the other hand, in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. The relative fault
of such Indemnifying Party, on the one hand, and Indemnified Party, on the other hand, shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of a material fact or omission or alleged omission to
state a material fact relates to information supplied by such 

	 	 
Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent any such statement or omission. The amount
paid or payable by an Indemnified Party as a result of any Losses shall be deemed to include any legal or other fees or expenses incurred by such party in connection with any proceeding, to the extent such party would have been indemnified for such
fees or expenses if the indemnification provided for in Section 8(a) or 8(b) was available to such party. 

 The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 8(d) were determined by pro rata allocation or by other method of allocation that does not
take account of the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 8(d), a selling Holder shall not be required to contribute, in the aggregate, any amount in excess
of such Holder’s Maximum Contribution Amount. A selling Holder’s “Maximum Contribution Amount” shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Transfer
Restricted Securities or Exchange Notes over (ii) the aggregate amount of damages that 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(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Guarantors’ obligations to contribute pursuant to
this Section 8(d) are joint and several. 
 The indemnity and contribution agreements contained in this Section 8 are
in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties. 
  

	9.	Rules 144 and 144A 

  

	 	(a)	The Company covenants that it shall (a) file the reports required to be filed by it (if so required) 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 written request of any Holder of Transfer Restricted Securities, make publicly available other information necessary to permit sales pursuant to Rule 144
and 144A and (b) take such further action as any Holder may reasonably request in writing, all to the extent required from time to time to enable such Holder to sell Transfer Restricted Securities without registration under the Securities Act
pursuant to the exemptions provided by Rule 144 and Rule 144A. Upon the request of any Holder, the Company shall deliver to such Holder a written statement as to whether it has complied with such information and requirements.

  

	 	(b)	 Availability of Rule 144 Not Excuse for Obligations under Section 2. The fact that holders of Transfer Restricted Securities may become
eligible to sell such Transfer Restricted Securities pursuant to Rule 144 shall not (1) cause such Notes to cease to be Transfer Restricted Securities or (2) excuse the Company’s and the Guarantors’ obligations set forth in
Section 2 of this Agreement, including 

	 	 
without limitation the obligations in respect of an Exchange Offer, Shelf Registration Statement and Additional Interest. 

 

	10.	Underwritten Registrations of Transfer Restricted Securities  

 If any of the Transfer Restricted Securities covered by any Shelf Registration Statement are to be sold in an underwritten offering, the investment banker or investment bankers and manager or managers
that will manage the offering will be selected by the Company; provided, however, that such investment banker or investment bankers and manager or managers must be reasonably acceptable to the Holders of a majority in aggregate
principal amount of such Transfer Restricted Securities included in such offering. 
 No Holder of Transfer Restricted
Securities 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 questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements.

  

	11.	Miscellaneous 

  

	 	(a)	Remedies. In the event of a breach by either the Company or any of the Guarantors of any of their respective obligations under this Agreement, each Holder, in
addition to being entitled to exercise all rights provided herein, in the Indenture or, in the case of the Initial Purchasers, in the Purchase Agreement, or granted by law, including recovery of damages, will be entitled to specific performance of
its rights under this Agreement. The Company and the Guarantors agree that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by either the Company or any of the Guarantors of any of the provisions of
this Agreement and hereby further agree that, in the event of any action for specific performance in respect of such breach, the Company shall (and shall cause each Guarantor to) waive the defense that a remedy at law would be adequate.

  

	 	(b)	No Inconsistent Agreements. The Company and each of the Guarantors have not entered, as of the date hereof, and the Company and each of the Guarantors shall not
enter, after the date of this Agreement, into any agreement with respect to any of its securities that is inconsistent with the rights granted to the Holders of Securities in this Agreement or otherwise conflicts with the provisions hereof. The
Company and each of the Guarantors have not entered and will not enter into any agreement with respect to any of its securities that will grant to any Person piggy-back rights with respect to a Registration Statement. 

 

	 	(c)	 Adjustments Affecting Transfer Restricted Securities. The Company shall not, directly or indirectly, take any action with respect to the
Transfer Restricted Securities as a class that would adversely affect the ability of the Holders to 

	 	 
include such Transfer Restricted Securities in a registration undertaken pursuant to this Agreement. 

 

	 	(d)	Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents to departures from the provisions
hereof may not be given, otherwise than with the prior written consent of the Holders of not less than a majority in aggregate principal amount of the then outstanding Transfer Restricted Securities in circumstances that would adversely affect any
Holders of Transfer Restricted Securities; provided, however, that Section 8 and this Section 11(d) may not be amended, modified or supplemented without the prior written consent of each Holder. 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 Holders of Transfer Restricted Securities whose securities are being tendered pursuant to the Exchange Offer or sold pursuant
to a Notes Registration Statement and that does not directly or indirectly affect, impair, limit or compromise the rights of other Holders of Transfer Restricted Securities may be given by Holders of at least a majority in aggregate principal amount
of the Transfer Restricted Securities being tendered or being sold by such Holders pursuant to such Notes Registration Statement. 

  

	 	(e)	Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand delivery, registered first-class mail,
next-day air courier or telecopier: 

  

	 	(i)	if to a Holder of Securities or to any Participating Broker-Dealer, at the most current address of such Holder or Participating Broker-Dealer, as the case may be, set
forth on the records of the registrar of the Notes, with a copy in like manner to the Initial Purchasers as follows: 

 GLOBAL HUNTER SECURITIES, LLC 
 400 Poydras Street, Suite 3100 

New Orleans, Louisiana 70130 
 Attention: Gary Meringer, Esq. 
 Phone: (504) 410-8017 

Fax: (504) 212-1610 
 KNIGHT LIBERTAS LLC 
 51 East Weaver Street 

1 Greenwich Office Park South 
 2nd Floor 
 Greenwich, Connecticut 06831 

Telephone:    (203) 930-7305 
 Facsimile:     (203) 930-7390 

Attention:      Kevin Donohue, Esq. 

with a copy to: 

 PROSKAUER ROSE LLP 

1585 Broadway 

New York, New York 10036 
 Telephone:    (212) 969-3000 

Facsimile:     (212) 969-2900 
 Attention: Frank Lopez, Esq. 
  

	 	(ii)	if to the Company or any Guarantor, as follows: 

 RAAM GLOBAL ENERGY COMPANY 
 1537 Bull Lea Road, Suite 200 

Lexington, Kentucky 40511 
 Telephone:    (859) 253-1300 

Facsimile:     (859) 233-7471 
 Attention:      Jeff T. Craycraft, 

                      
Treasurer 
 with a copy to: 
 VINSON & ELKINS L.L.P. 
 First City Tower 

1001 Fannin Street 
 Suite 2500 
 Houston, Texas 77002 

Telephone:    (713) 758-4592 
 Facsimile:     (713) 615-5531 

Attention:      T. Mark Kelly, Esq. 

All such notices and communications shall be deemed to have been duly given: when delivered by hand, if personally delivered; five
business days after being deposited in the United States mail, postage prepaid, if mailed, one business day after being deposited in the United States mail, postage prepaid, if mailed; one business day after being timely delivered to a next-day air
courier guaranteeing overnight delivery; and when receipt is acknowledged by the addressee, if telecopied. 
 Copies of all such
notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee under the Indenture at the address specified in such Indenture. 

 

	 	(f)	Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties hereto, including,
without limitation and without the need for an express assignment, subsequent Holders of Securities. 

  

	 	(g)	 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. 

 

	 	(h)	Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

  

	 	(i)	Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF
LAW. THE COMPANY HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK OR ANY FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN RESPECT OF
ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, AND IRREVOCABLY ACCEPTS FOR ITS AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, JURISDICTION OF THE AFORESAID COURTS. THE COMPANY IRREVOCABLY WAIVES, TO THE
FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE LAW, TRIAL BY JURY AND ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT,
ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. THE COMPANY IRREVOCABLY CONSENTS, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE LAW, TO THE SERVICE OF PROCESS OF ANY OF THE AFOREMENTIONED
COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO THE COMPANY AT ITS SAID ADDRESS, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. NOTHING HEREIN SHALL AFFECT
THE RIGHT OF ANY HOLDER TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST THE COMPANY IN ANY OTHER JURISDICTION. 

 

	 	(j)	 Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction 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, and the parties hereto shall use
their 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 is hereby stipulated and declared to be the intention of the
parties that they would have executed the remaining terms, provisions, 

	 	 
covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

 

	 	(k)	Securities Held by the Company or Its Affiliates. Whenever the consent or approval of Holders of a specified percentage of Securities is required hereunder,
Securities held by the Company or its affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage.

  

	 	(l)	Third Party Beneficiaries. Holders and Participating Broker-Dealers are intended third party beneficiaries of this Agreement and this Agreement may be enforced
by such Persons. 

  

	 	(m)	Entire Agreement. This Agreement, together with the Purchase Agreement, the Indenture and the Collateral Agreements, is intended by the parties as a final and
exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein and any and all prior oral or written agreements, representations, or warranties, contracts, understanding,
correspondence, conversations and memoranda between the Initial Purchasers on the one hand and the Company and the Guarantors on the other, or between or among any agents, representatives, parents, subsidiaries, affiliates, predecessors in interest
or successors in interest with respect to the subject matter hereof and thereof are merged herein and replaced hereby. 

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

			
	RAAM GLOBAL ENERGY COMPANY
		
	By:	 	/s/ Howard Settle
	Name: Howard Settle
	Title: President
	
	 CENTURY EXPLORATION NEW ORLEANS, INC.
 CENTURY EXPLORATION HOUSTON, INC.
 CENTURY EXPLORATION RESOURCES, INC.

SITA ENERGY, LLC
 WINDSTAR ENERGY,
LLC

		
	By:	 	/s/ Howard Settle
	Name: Howard Settle
	Title: President

 
			
	Accepted and agreed to:
	
	GLOBAL HUNTER SECURITIES, LLC
		
	By:	 	/s/ Daniel O. Conwill, IV
		 	Daniel O. Conwill, IV
		 	Chairman and CEO

 
			
	KNIGHT LIBERTAS LLC
		
	By:	 	/s/ Bob Lyons
		 	Name: Bob Lyons
		 	Title: Managing DirectorIntercreditor Agreement

 Exhibit 4.3 
 INTERCREDITOR AGREEMENT 
 This INTERCREDITOR AGREEMENT (this
“Agreement”), is dated as of September 24, 2010, and entered into by and among UNION BANK, N.A., in its capacity as administrative agent (in such capacity, with its successors and assigns, the “First Lien
Agent”) for the First Lien Creditors (as defined below), THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., in its capacity as Indenture Trustee (in such capacity, with its successors and assigns, the “Second Lien
Trustee”) for, on behalf of and in the stead of, the Second Lien Creditors (as defined below), CENTURY EXPLORATION NEW ORLEANS, INC. and CENTURY EXPLORATION HOUSTON, INC. (collectively, the “First Lien
Borrowers”) and RAAM GLOBAL ENERGY COMPANY (“Second Lien Borrower”) in each case, for themselves and on behalf of each of the other Loan Parties. 

WHEREAS, First Lien Borrowers, the First Lien Agent and certain financial institutions (with their respective successors and assigns, the
“First Lien Lenders”) are parties to a Third Amended and Restated Credit Agreement dated as of September 4, 2009 (as amended, supplemented, restated or otherwise modified from time to time in accordance with the terms
hereof and thereof, the “Existing First Lien Agreement”), pursuant to which such financial institutions have agreed to make revolving credit loans and extend other financial accommodations to First Lien Borrowers; and

 WHEREAS, pursuant to the First Lien Security Documents, First Lien Borrowers and the other Loan Parties (including Second
Lien Borrower) under the First Lien Agreement have granted senior, first priority liens and security interests in the Collateral in favor of the First Lien Creditors as security for the payment and performance of the First Lien Obligations (the
“Senior Liens”); and 
 WHEREAS, Second Lien Borrower and the Second Lien Trustee are entering into that
certain Indenture of even date herewith (as amended, supplemented, restated or otherwise modified from time to time in accordance with the terms hereof and thereof, the “Existing Second Lien Indenture”), pursuant to which
Second Lien Borrower will issue Second Lien Notes (the “Second Lien Notes”); and 
 WHEREAS, certain
Persons (with their respective successors and assigns, the “Second Lien Note Holders”) are entering into that certain Purchase Agreement of even date herewith (as amended, supplemented, restated or otherwise modified from
time to time, the “Second Lien Note Purchase Agreement”), pursuant to which the Second Lien Note Holders will purchase the Second Lien Notes; and 
 WHEREAS, pursuant to the Second Lien Security Documents, Second Lien Borrower and the other Loan Parties (including the First Lien Borrowers) under the Second Lien Agreements are granting and will grant
subordinate liens and security interests in the Collateral in favor of the Second Lien Trustee for the benefit of the Second Lien Note Holders as security for the payment and performance of the Second Lien Obligations (the “Subordinate
Liens”), 

 
which, as required by the terms of the First Lien Agreement, will be junior, subordinate and inferior in all respects to the Senior Liens; and 

WHEREAS, the incurrence of the Second Lien Obligations and the grant of such Subordinate Liens are permitted under Section 7.1 and
7.2 of the Credit Agreement, subject to the terms and conditions of this Agreement. 
 NOW THEREFORE, in consideration of the
foregoing and the mutual covenants herein contained and other good and valuable consideration, the existence and sufficiency of which is expressly recognized by all of the parties hereto, the parties agree as follows: 

SECTION 1 Definitions. 
 The following terms, as used herein, have the following meanings: 

“Bankruptcy Code” means the United States Bankruptcy Code (11 U.S.C. §101 et seq.), as amended from time to
time. 
 “Collateral” means all First Lien Collateral and Second Lien Collateral. 

“Comparable Second Lien Security Document” means, in relation to any Collateral subject to any First Lien
Security Document, that Second Lien Security Document that creates a security interest in the same Collateral, granted by the same Loan Party, as applicable. 
 “Enforcement Action” means, with respect to the First Lien Obligations or the Second Lien Obligations, any demand for payment or acceleration thereof, the exercise of any rights
and remedies with respect to any Collateral securing such obligations or the commencement or prosecution of enforcement of any of the rights and remedies under, as applicable, the First Lien Documents or the Second Lien Documents, or applicable law,
including without limitation the exercise of any rights of set-off or recoupment, and the exercise of any rights or remedies of a secured creditor under the Uniform Commercial Code of an applicable jurisdiction or under the Bankruptcy Code.

 “First Lien Agreement” means (i) the Existing First Lien Agreement and (ii) any other
credit agreement, loan agreement, note agreement, promissory note, indenture or other agreement or instrument evidencing or governing the terms of any indebtedness or other financial accommodation that has been incurred to extend, replace, refinance
or refund in whole or in part the indebtedness and other obligations outstanding under the Existing First Lien Agreement or any other agreement or instrument referred to in this clause (ii). Any reference to the First Lien Agreement hereunder shall
be deemed a reference to any First Lien Agreement then extant. 
 “First Lien Collateral” means all
assets, whether now owned or hereafter acquired by First Lien Borrowers or any other Loan Party, in which a Lien is granted or purported to be granted in favor of the First Lien Agent or First Lien Creditors as security for any First Lien
Obligation. 

  
 2 

 “First Lien Creditor” means the First Lien Agent, the First Lien
Lenders, any of their respective Affiliates (as defined in the First Lien Agreement) owed any Hedging Obligations pursuant to any Hedging Contract with the First Lien Borrowers or any other Loan Party, and any other holders of First Lien
Obligations, including replacement First Lien Lenders. 
 “First Lien Documents” means the First Lien
Agreement, the revolving credit notes from time to time issued thereunder, letters of credit and letter of credit applications with respect thereto, Hedging Contracts between any First Lien Creditor and any Loan Party, the First Lien Security
Documents, and all other agreements, certificates, documents, instruments and writings at any time delivered by First Lien Borrowers or any other Loan Party in connection therewith. 

“First Lien Discharge Date” means the date on which (i) all First Lien Obligations have been paid in cash in
full (or cash collateralized or defeased in accordance with the terms of the First Lien Documents), (ii) all commitments to extend credit under the First Lien Documents have been terminated, (iii) there are no outstanding letters of credit
or similar instruments issued under the First Lien Documents (other than such as have been cash collateralized or defeased in accordance with the terms of the First Lien Security Documents), and (iv) the First Lien Agent has delivered a written
notice to the Second Lien Trustee stating that the events described in clauses (i), (ii) and (iii) have occurred to the satisfaction of the First Lien Creditors. 
 “First Lien Obligations” means (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made pursuant to the
First Lien Agreement and any other indebtedness incurred pursuant to a Credit Facility (as defined in the Second Lien Indenture) to the extent that such Indebtedness is secured equally and ratably with the other First Lien Obligations by the Liens
on the Collateral, (ii) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant to the First Lien
Agreement, (iii) all Hedging Obligations of any Loan Party, and (iv) all fees, expenses and other amounts payable from time to time pursuant to the First Lien Documents, in each of the foregoing cases whether or not allowed or allowable
against any Loan Party or their estates in an Insolvency Proceeding. To the extent any payment with respect to any First Lien Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or
otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any Second Lien Creditor, receiver or similar Person, then the obligation or part thereof originally
intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Lien Creditors and the Second Lien Creditors, be deemed to be reinstated and outstanding as if such payment had not occurred. 

“First Lien Security Documents” means the “Security Documents” as defined in the First Lien Agreement,
and any other documents that grant a Lien in favor of First Lien Creditors to secure First Lien Obligations. 

“Hedging Contract” has the meaning given such term in the First Lien Agreement. 

“Hedging Obligations” means any “Lender Hedging Obligations” as defined in the First Lien Agreement (as
in effect on the date hereof). 

  
 3 

 “Insolvency Proceeding” means any proceeding in respect of
bankruptcy, insolvency, winding up, receivership, dissolution or assignment for the benefit of creditors, in each of the foregoing events whether under the Bankruptcy Code or any similar federal, state or foreign bankruptcy, insolvency,
reorganization, receivership or similar law. 
 “Lien” means, with respect to any asset,
(a) any mortgage, deed of trust, deed to secure debt, lien, pledge, hypothecation, assignment, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement,
capital lease or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing) relating to such asset, and (c) in the case of securities, any purchase option, call or similar right of a
third party with respect to such securities. 
 “Loan Party” means First Lien Borrowers, Second Lien
Borrower and each direct or indirect affiliate or shareholder (or equivalent) of any of First Lien Borrowers or Second Lien Borrower or any of their respective affiliates that is now or hereafter becomes a party to any First Lien Document or Second
Lien Document. 
 “Person” means, any person, individual, sole proprietorship, partnership, joint
venture, corporation, limited liability company, unincorporated organization, association, institution, entity, party, including any government and any political subdivision, agency or instrumentality thereof. 

“Post-Petition Interest” means any interest or entitlement to fees or expenses that accrues after the
commencement of any Insolvency Proceeding, whether or not allowed or allowable in any such Insolvency Proceeding. 

“Second Lien Collateral” means all assets, whether now owned or hereafter acquired by Second Lien Borrower or any
other Loan Party, in which a Lien is granted or purported to be granted in favor of Second Lien Creditors as security for any Second Lien Obligation. 
 “Second Lien Creditor” means the Second Lien Trustee, the Second Lien Note Holders, and any other holders of Second Lien Obligations. 

“Second Lien Documents” means the Existing Second Lien Indenture, the Second Lien Notes, the Second Lien Note
Purchase Agreement, each Second Lien Security Document, and all other agreements, certificates, documents, instruments and writings at any time delivered by Second Lien Borrower or any other Loan Party in connection therewith. 

“Second Lien Indenture” means (i) the Existing Second Lien Indenture and (ii) any other credit
agreement, loan agreement, note agreement, promissory note, indenture, or other agreement or instrument evidencing or governing the terms of any indebtedness or other financial accommodation that has been incurred to extend, replace, refinance or
refund in whole or in part the indebtedness and other obligations outstanding under the Existing Second Lien Indenture or other agreement or instrument referred to in this clause (ii). Any reference to the Second Lien Indenture hereunder shall be
deemed a reference to any Second Lien Indenture then extant. 

  
 4 

 “Second Lien Obligations” means (i) all principal of and
interest (including without limitation any Post-Petition Interest) and premium (if any) on the Second Lien Notes and any other indebtedness or obligations under the Second Lien Indenture and the Second Lien Notes, and (ii) all fees, expenses
and other amounts payable from time to time pursuant to the Second Lien Documents, in each case whether or not allowed or allowable against any Loan Party or their estates in an Insolvency Proceeding. To the extent any payment with respect to any
Second Lien Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid
to a debtor in possession, any First Lien Creditor, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Lien
Creditors and the Second Lien Creditors, be deemed to be reinstated and outstanding as if such payment had not occurred. 

“Second Lien Security Documents” means any documents that grant a Lien in favor of Second Lien Creditors to
secure Second Lien Obligations. 
 “Standstill Period” has the meaning given it in Section 3.1(c) .

 “Uniform Commercial Code” means, unless otherwise specified, the Uniform Commercial Code as in effect
from time to time in the State of New York. 
 SECTION 2 Obligations and Lien Priorities. 

2.1 Subordination of Subordinate Liens. 
 (a) Any and all Liens now existing or hereafter created or arising in favor of any Second Lien Creditor securing the Second Lien Obligations, regardless of how acquired, whether by grant, statute,
operation of law, subrogation or otherwise, are expressly subordinated, junior and inferior in right, priority, operation and effect to any and all Liens now existing or hereafter created or arising in favor of the First Lien Creditors securing the
First Lien Obligations, notwithstanding (i) anything to the contrary contained in any agreement or filing to which any Second Lien Creditor may now or hereafter be a party, and regardless of the time, order or method of grant, attachment,
recording or perfection of any financing statements or other Liens or any defect or deficiency or alleged defect or deficiency in any of the foregoing, (ii) any provision of the UCC or any applicable law or any First Lien Document or Second
Lien Document or any other circumstance whatsoever and (iii) the fact that any such Liens in favor of any First Lien Creditor securing any of the First Lien Obligations are (x) subordinated to any Lien securing any obligation of any Loan
Party other than the Second Lien Obligations or (y) otherwise subordinated, voided, avoided, invalidated or lapsed. Any and all such Liens securing the First Lien Obligations shall be and remain senior in right, priority, operation and effect
to any Liens securing Second Lien Obligations for all purposes, whether or not any such Liens securing First Lien Obligations are subordinated in any respect to any other Liens securing other indebtedness of First Lien Borrowers, Second Lien
Borrower or any other Loan Party. Neither the Second Lien Trustee nor any other Second Lien Creditor shall subordinate any Liens securing the Second Lien Obligations to any Liens securing any other obligations or

  
 5 

 
indebtedness of any Loan Party, other than the Liens securing the First Lien Obligations as provided herein. 
 (b) No Second Lien Creditor shall object to or contest, or support any other Person in contesting or objecting to, in any proceeding (including without limitation, any Insolvency Proceeding), the
validity, extent, perfection, priority or enforceability of any security interest or Lien in any Collateral granted to the First Lien Creditors. Notwithstanding any failure by any First Lien Creditor to perfect its security interests in any
Collateral or any avoidance, invalidation or subordination by any third party or court of competent jurisdiction of the security interests or Liens in the Collateral granted to the First Lien Creditors, the priority and rights as between the First
Lien Creditors and the Second Lien Creditors with respect to the Collateral and proceeds thereof shall be as set forth herein. 

2.2 Nature of First Lien Obligations. The Second Lien Trustee on behalf of itself and the other Second Lien Creditors acknowledges
that all or a portion of the First Lien Obligations are revolving in nature and that the amount thereof that may be outstanding at any time or from time to time may be increased or reduced and subsequently reborrowed, and that the terms of the First
Lien Obligations may be modified, extended or amended from time to time, and that the aggregate amount of the First Lien Obligations may be increased, replaced or refinanced, in each event, without notice to or consent (except as provided in
Section 6.1 hereof) by the Second Lien Creditors and without affecting the provisions hereof. The Lien priorities provided in Section 2.1 shall not be altered or otherwise affected by any such amendment, modification, supplement,
extension, repayment, reborrowing, increase, replacement, renewal, restatement or refinancing of either the First Lien Obligations or the Second Lien Obligations, or any part thereof. 

2.3 Agreements Regarding Actions to Perfect Liens. 
 (a) The Second Lien Trustee on behalf of itself and the other Second Lien Creditors agrees that UCC-1 financing statements, patent, trademark or copyright filings or other filings or recordings filed or
recorded by or on behalf of the Second Lien Trustee in connection with the initial issuance of Second Lien Notes (and on or prior to the date hereof) shall be in form satisfactory to the First Lien Agent. 

(b) The First Lien Agent (on behalf of itself and the other First Lien Creditors) and Second Lien Trustee (on behalf of itself and the
other Second Lien Creditors) agree that all mortgages, deeds of trust, deeds, security agreements, financing statements and similar instruments now or hereafter executed, delivered and/or filed against any real or personal property in favor of
Second Lien Trustee for the benefit of the Second Lien Creditors shall (a) in the case of any such instruments executed, delivered and/or filed in connection with the initial issuance of Second Lien Notes, (and on or prior to the date hereof)
be in form reasonably satisfactory to the First Lien Agent and (b) contain the following notation (or a similar notation reasonably satisfactory to the First Lien Agent): 
 “Notwithstanding anything herein to the contrary, the Lien and security interest granted to Second Lien Trustee pursuant to this Agreement and the exercise of any right or remedy by Second Lien
Trustee hereunder are subject to the provisions of the Intercreditor Agreement, dated September 24, 2010 (as amended, restated, supplemented, or otherwise modified from 

  
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time to time, the “Intercreditor Agreement”), among Union Bank, N.A., as First Lien Agent, The Bank of New York Mellon Trust Company, N.A., as Second Lien Trustee, Century
Exploration New Orleans, Inc., Century Exploration Houston, Inc., and RAAM Global Energy Company, and other persons party or that may become party thereto from time to time. If there is a conflict between the terms of the Intercreditor Agreement and
this Agreement, the terms of the Intercreditor Agreement will control. The lien created or evidenced hereby on the property described herein is junior, subordinate and inferior to any and all liens on such property created or evidenced by any
mortgage, deed of trust, security agreement, financing statement or similar instrument now or hereafter granted to Union Bank, N.A., and its successors and assigns, or any other “First Lien Creditor” (as such term is defined in the
Intercreditor Agreement) in such property, in accordance with such Intercreditor Agreement.” 
 (c) The First Lien Agent
hereby acknowledges that, to the extent that it holds, or a third party holds on its behalf, physical possession of or “control” (as defined in the Uniform Commercial Code) over Collateral pursuant to the First Lien Security Documents,
such possession or control is also for the benefit of the Second Lien Trustee and the other Second Lien Creditors for purposes of perfecting their subordinate security interest in such Collateral. Nothing in the preceding sentence shall be construed
to impose any duty on the First Lien Agent (or any third party acting on its behalf) with respect to such Collateral or provide the Second Lien Trustee or any other Second Lien Creditor with any rights with respect to such Collateral beyond those
specified in this Agreement and the Second Lien Security Documents; provided that subsequent to the occurrence of the First Lien Discharge Date, the First Lien Agent shall within five Business Days (as defined in the First Lien Agreement)
thereafter (x) deliver to the Second Lien Trustee, at the First Lien Borrowers’ and Second Lien Borrower’s sole cost and expense, the Collateral in its possession or control together with any necessary endorsements to the extent
required by the Second Lien Documents, or (y) direct and deliver such Collateral as a court of competent jurisdiction otherwise directs, and provided further that the provisions of this Agreement are intended solely to govern the
respective Lien priorities as between the First Lien Creditors and the Second Lien Creditors, and shall not impose on the First Lien Agent or the First Lien Creditors any obligations in respect of the disposition of any Collateral (or any proceeds
thereof) that would conflict with prior perfected Liens or any claims thereon in favor of any other Person. 
 2.4 No New
Subordinate Liens. So long as the First Lien Discharge Date has not occurred, the parties hereto agree that no Loan Party shall grant or permit, and no Second Lien Creditor shall acquire or hold, any Lien on any assets of any Loan Party securing
any Second Lien Obligation which assets are not also subject to a Senior Lien granted pursuant to the First Lien Documents in favor of the First Lien Agent for the benefit of the First Lien Creditors securing the First Lien Obligations. If any Loan
Party shall (nonetheless and in breach hereof) grant or permit, or any Second Lien Creditor shall (nonetheless and in breach hereof) acquire or hold, any Lien on any assets of any Loan Party securing any Second Lien Obligation which assets are not
also subject to a Senior Lien granted pursuant to the First Lien Documents in favor of the First Lien Agent for the benefit of the First Lien Creditors securing the First Lien Obligations, such assets shall constitute First Lien Collateral securing
the First Lien Obligations, and the Second Lien Trustee (or the relevant Second Lien Creditor) shall, and shall be deemed to have, without the need for any further consent of any other Second Lien Creditor and notwithstanding anything to the
contrary in any other Second Lien Document (i) be deemed to 

  
 7 

 
hold and have held such Lien for the benefit of the First Lien Agent as security for the First Lien Obligation and shall assign such Lien to the First Lien Agent (in which case the Second Lien
Trustee may retain a junior Subordinate Lien on such assets subject to the terms hereof) or (ii) if requested by the First Lien Agent, release such Lien. 
 2.5 Similar Liens and Agreements. The parties hereto agree that it is their intention that the First Lien Collateral and the Second Lien Collateral be identical, except that the First Lien
Collateral will include items (1)—(4) of the definition of ‘Excluded Collateral’ set forth in the Existing Second Lien Indenture in effect on the date hereof. To the extent that, notwithstanding this Section 2.5, the First
Lien Collateral and Second Lien Collateral are not identical, the Second Lien Trustee, on behalf of Second Lien Creditors, agrees that any amounts received by or distributed to any of them pursuant to or as a result of Liens on Second Lien
Collateral that is not First Lien Collateral, shall be subject to Section 4.1. In furtherance of the foregoing, the parties hereto agree, subject to the other provisions of this Agreement: 

(a) upon reasonable request by either the First Lien Agent or Second Lien Trustee, as applicable, to cooperate in good faith (and to
direct their counsel to cooperate in good faith) from time to time in order to determine the specific items included in the First Lien Collateral and the Second Lien Collateral and the steps taken to perfect their respective Liens thereon and the
identity of the respective parties obligated under the First Lien Documents and the Second Lien Documents; 
 (b) that the
documents and agreements creating or evidencing the First Lien Collateral and the Second Lien Collateral and guarantees for the First Lien Obligations and the Second Lien Obligations shall be in all material respects the same forms of documents,
subject to document standard language required by Second Lien Trustee, and other than with respect to the senior and subordinate nature of the obligations and Collateral thereunder; and 

(c) that in the event Second Lien Trustee shall obtain or record any Second Lien Documents in favor of Second Lien Trustee granting Liens
on Collateral to secure Second Lien Obligations, then Second Lien Trustee shall notify the First Lien Agent of such documentation and provide a copy thereof. 
 2.6 [Intentionally Omitted]. 
 2.7 Certain Agreements with Respect to
Unenforceable Liens. Notwithstanding anything to the contrary contained herein, if in any Insolvency Proceeding a determination is made that any Lien encumbering any Collateral securing the First Lien Obligations is not enforceable for any
reason, then the Second Lien Trustee and the Second Lien Creditors agree that any distribution or recovery they may receive with respect to, or allocable to, the value of the assets intended to constitute such Collateral or any proceeds thereof
shall (for so long as the First Lien Discharge Date has not occurred) be segregated and held in trust and forthwith paid over to the First Lien Agent for the benefit of the First Lien Creditors in the same form as received without recourse,
representation or warranty (other than a representation of the Second Lien Trustee that it has not otherwise sold, assigned, transferred or pledged any right, title or interest in and to such distribution or recovery) but with any necessary
endorsements or as a court of competent jurisdiction may otherwise direct until such time as the First Lien Discharge 

  
 8 

 
Date has occurred. Until the First Lien Discharge Date occurs, the Second Lien Trustee, for itself and on behalf of each other Second Lien Creditor, hereby appoints the First Lien Agent, and any
officer or agent of the First Lien Agent, with full power of substitution, the attorney-in-fact of each Second Lien Creditor for the limited purpose of carrying out the provisions of this Section and taking any action and executing any instrument
that the First Lien Agent may deem necessary or advisable to accomplish the purposes of this Section, which appointment is irrevocable and coupled with an interest. 
 2.8 Purchase Option. The First Lien Agent, on behalf of itself and the First Lien Creditors, agrees that if an Event of Default under the First Lien Documents has occurred and is continuing, and as
a result of such Event of Default under the First Lien Documents (i) the First Lien Obligations have been accelerated, (ii) the Second Lien Obligations have been accelerated, (iii) any Insolvency Proceeding has been commenced (or is
then occurring) with respect to any Loan Party or (iv) the First Lien Agent (A) is pursuing any Enforcement Action (including foreclosure) with respect to the Collateral or (B) proposes any release, sale or other disposition not
otherwise permitted under the Second Lien Documents with respect to any material portion of the Collateral, in each case of this subsection (iv) that would have the effect of releasing Liens securing the Second Lien Obligations (each a
“Trigger Event”), then the Second Lien Note Holders shall have the right and option to purchase the entire aggregate amount (but not less than the entire aggregate amount) of outstanding First Lien Obligations (including unfunded
and unterminated commitments) at a price equal to par, plus all accrued and unpaid interest, fees and other amounts (other than contingent indemnification obligations, which obligations shall survive the purchase of the First Lien Obligations by the
Second Lien Note Holders) of First Lien Obligations, together with cash collateral for all outstanding Letters of Credit (as defined in the First Lien Agreement) in an amount equal to 105% of the undrawn and available amount of such Letters of
Credit outstanding under the First Lien Agreement, and a payment for all then outstanding Hedging Obligations at a price equal to the sum of any unpaid amounts then due in respect of such Hedging Obligations plus or minus a net amount quoted by the
First Lien Creditor party to such Hedging Obligation that would be paid to assign or novate each such Hedging Obligation in the ordinary course of its business. Such sale shall be without warranty or representation or recourse other than as provided
in standard LSTA documentation for par trades. To exercise the option following any Trigger Event, the Second Lien Trustee upon receipt of indemnification in accordance with Section 7.02(f) under the Second Lien Indenture, together with a
written direction from the Second Lien Note Holders holding a majority of the principal amount of Second Lien Notes then outstanding (the “Majority Second Lien Note Holders”) shall deliver a written notice prepared by and on behalf
of such Majority Second Lien Note Holders to the First Lien Agent, which notice must be given within 60 days after the occurrence of any such Trigger Event and shall be deemed an irrevocable exercise of its option to purchase the First Lien
Obligations on the terms set forth in this Section. Upon delivery of such notice, the Second Lien Note Holders shall be obligated to purchase, and the First Lien Creditors shall be obligated to sell, the entire aggregate amount of outstanding First
Lien Obligations (other than contingent indemnification obligations, which obligations shall survive the purchase of the First Lien Obligations by the Second Lien Note Holders) for the purchase price described in this Section within twenty
(20) days after delivery of such notice. In the event that the First Lien Obligations are purchased by the Second Lien Note Holders in accordance with the terms hereof, the First Lien Agent and the First Lien Creditors shall have the right
(which shall be exercised within 10 Business Days after the consummation of such purchase) to terminate immediately all banking 

  
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and other services then being offered to any of the First Lien Borrowers, the Second Lien Borrower or the other Loan Parties. In no event shall the Second Lien Trustee e obligated to monitor any
such Trigger Event. 
 SECTION 3 Enforcement Rights. 

3.1 Enforcement. Until the occurrence of the First Lien Discharge Date, whether or not a Insolvency Proceeding has been commenced
by or against any Loan Party: 
 (a) The Second Lien Trustee and the Second Lien Creditors: 

(i) shall not take any Enforcement Action with respect to any Collateral or exercise rights with respect to a Lien
securing a Second Lien Obligation, 
 (ii) will not contest, protest or object to, or take any other action that
may impair, any collection or foreclosure proceeding or action with respect to the Collateral brought by the First Lien Agent or any First Lien Creditor or any other exercise by the First Lien Agent or any First Lien Creditor, of any rights and
remedies under the First Lien Documents or otherwise, and 
 (iii) will not object to the forbearance by the
First Lien Agent or the First Lien Creditors from bringing or pursuing any collection or foreclosure proceeding or action or any other exercise of any rights or remedies relating to the Collateral. 

(b) The First Lien Creditors shall have the exclusive right to take and continue any Enforcement Action with respect to the Collateral,
without any notification to, consultation with or consent of the Second Lien Trustee or any other Second Lien Creditor. Upon the occurrence and during the continuance of a default or an event of default under the First Lien Documents, subject to the
provisions of this Agreement, the First Lien Agent and the other First Lien Creditors may take and continue any Enforcement Action with respect to the Collateral in such order and manner as they may determine in their sole discretion. 

(c) Notwithstanding the preceding section 3.1(a) or (b), Second Lien Creditors may commence an Enforcement Action or exercise rights with
respect to a Lien securing a Second Lien Obligation if: 
 (i) 180 days have elapsed since Second Lien Trustee
notified First Lien Agent that either (x) the Second Lien Obligations have become due in full as a result of acceleration or otherwise (and such acceleration of the Second Lien Obligations has not been rescinded) or (y) any payment or
insolvency Event of Default has occurred and is then continuing under the Second Lien Documents (the “Standstill Period”), and 
 (ii) First Lien Creditors are not then diligently pursuing an Enforcement Action with respect to all or a material portion of the Collateral or diligently attempting to vacate any stay or prohibition
against such exercise. 

  
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 (d) Except as expressly provided in Section 2.3(c) hereof, First Lien Agent shall have
no implied duty to Second Lien Creditors or any Loan Party as to any property belonging to any Loan Party (whether or not the same constitutes Collateral) in its possession or control or in the possession or control of any of its agents or nominees,
or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto. 
 3.2
Second Lien Creditors’ Rights as Unsecured Creditor. Subject to the terms and provisions hereof, including without limitation Section 2.6 hereof, the Second Lien Trustee and the other Second Lien Creditors may, in accordance with
the terms of the Second Lien Documents and applicable law, enforce rights and exercise remedies against Second Lien Borrower and any other Loan Party as unsecured creditors prior to the end of the Standstill Period; provided that no such
action is otherwise inconsistent with the terms of this Agreement. 
 3.3 Waivers. The Second Lien Trustee, on behalf of
itself and the other Second Lien Creditors, agrees that, until the First Lien Discharge Date has occurred: 
 (a) they will not
take or cause to be taken any action, the purpose or effect of which is to make any Subordinate Lien pari passu with or senior to, or to give any Second Lien Creditor any preference or priority relative to, the Senior Liens or the First Lien
Creditors with respect to any of the Collateral; 
 (b) they will not oppose, object to, interfere with, hinder or delay, in any
manner, whether by judicial proceedings (including without limitation the filing of an Insolvency Proceeding) or otherwise, any acceleration or collection action or proceeding with respect to the First Lien Obligations or any foreclosure, sale,
lease, exchange, transfer or other disposition of the Collateral by the First Lien Agent or any other First Lien Creditor or any other Enforcement Action taken by or on behalf of the First Lien Agent or any other First Lien Creditor; 

(c) they have no right to (x) direct either the First Lien Agent or any other First Lien Creditor to exercise any right, remedy or
power with respect to First Lien Borrowers, the other Loan Parties, the First Lien Obligations, the Collateral or pursuant to the First Lien Security Documents or (y) consent or object to the exercise by the First Lien Agent or any other First
Lien Creditor of any right, remedy or power with respect to First Lien Borrowers, the other Loan Parties, the First Lien Obligations, the Collateral or pursuant to the First Lien Security Documents or to the timing or manner in which any such right
is exercised or not exercised (or, to the extent they may have any such right described in this clause (c), whether as a junior creditor or otherwise, they hereby irrevocably waive such right), except to the extent such exercise was in violation of
this Agreement; 
 (d) without waiving any rights to take action as unsecured creditors as provided in Section 3.2 hereof,
they will not institute any suit or other proceeding or assert in any suit, Insolvency Proceeding or other proceeding any claim against First Lien Agent or any other First Lien Creditor seeking damages from or other relief by way of specific
performance, instructions or otherwise, with respect to, and neither the First Lien Agent nor any other First Lien Creditor shall be liable for, any action taken or omitted to be taken by the First Lien Agent or any other First Lien Creditor with
respect to the Collateral, so long as such actions or omissions were not taken in violation of this Agreement; 

  
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 (e) without waiving any rights to take action as unsecured creditors as provided in
Section 3.2 hereof, and subject in all respects to the provisions of Section 3.1 and Section 5, they will not make any judicial or nonjudicial claim or demand or commence any judicial or non-judicial proceedings against any Loan Party
or any of its subsidiaries or affiliates with respect to any Collateral under or with respect to any Second Lien Security Document which claim, demand or proceeding seeks payment or damages from or other relief by way of specific performance,
instructions or otherwise with respect to any Collateral under or with respect to any Second Lien Security Document (other than filing a proof of claim) or exercise any right, remedy or power under or with respect to, or otherwise take any action to
enforce, other than filing a proof of claim, their interest in or realize upon the Collateral pursuant to any Second Lien Security Document; 
 (f) they will not commence judicial or nonjudicial collection of the Second Lien Obligations or foreclosure proceedings with respect to, seek to have a trustee, receiver, liquidator or similar official
appointed for or over, attempt any action to take possession of any Collateral, exercise any right, remedy or power with respect to, or otherwise take any action to enforce the Second Lien Obligations or their interest in or realize upon, the
Collateral or pursuant to the Second Lien Security Documents; and 
 (g) they will not seek, and hereby waive any right, to have
the Collateral or any part thereof marshaled upon any foreclosure or other disposition of the Collateral. 
 3.4 Judgment
Creditors. In the event that any Second Lien Creditor becomes a judgment Lien creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor, such judgment Lien shall be subject to the terms of this
Agreement for all purposes (including in relation to the Senior Liens and the First Lien Obligations) to the same extent as all other Liens securing the Second Lien Obligations (created pursuant to the Second Lien Security Documents) subject to this
Agreement. 
 3.5 [Intentionally Omitted]. 
 3.6 No Additional Rights For First Lien Borrowers or Second Lien Borrower Hereunder. Except as provided in Section 3.6, if either any First Lien Creditor or Second Lien Creditor shall enforce
its rights or remedies in violation of the terms of this Agreement, neither the First Lien Borrowers nor the Second Lien Borrower shall be entitled to use such violation as a defense, to any action by such party, nor to assert such violation as a
counterclaim or basis for set off or recoupment against any First Lien Creditor or Second Lien Creditor, as applicable. 
 3.7
Actions Upon Breach. 
 (a) If any: 

(i) Second Lien Creditor, in violation of this Agreement, commences or participates in any action or proceeding against
Second Lien Borrower, the other Loan Parties or the Collateral, any of the First Lien Borrowers or Second Lien Borrower, with the prior written consent of the First Lien Agent, may interpose as a defense or dilatory plea the making of this
Agreement, and any First Lien Creditor may intervene and 

  
 12 

 
interpose such defense or plea in its or their name or in the name of any of the First Lien Borrowers or Second Lien Borrower, or the other Loan Parties, as applicable. 

(ii) First Lien Creditor, in violation of this Agreement, commences or participates in any action or proceeding against
First Lien Borrower, the other Loan Parties or the Collateral, any of the Second Lien Note Holders or Second Lien Borrower, with the prior written consent of the Second Lien Trustee, may interpose as a defense or dilatory plea the making of this
Agreement, and any Second Lien Creditor may intervene and interpose such defense or plea in its or their name or in the name of any of the Second Lien Borrower or First Lien Borrowers, or the other Loan Parties as applicable. 

(b) Should any: 
 (i) Second Lien Creditor, contrary to this Agreement, in any way take, attempt to or threaten to take any action with respect to the Collateral (including, without limitation, any attempt to realize upon
or enforce any remedy with respect to this Agreement), or fail to take any action required by this Agreement, any First Lien Creditor (in its or their own name or in the name of any of the First Lien Borrowers or Second Lien Borrower, as applicable)
or any of the First Lien Borrowers or Second Lien Borrower or the other Loan Parties, as applicable, may obtain relief against such Second Lien Creditor by injunction, specific performance and/or other appropriate equitable relief, it being
understood and agreed by the Second Lien Trustee on behalf of each Second Lien Creditor that (A) the First Lien Creditors’ damages from its actions may at that time be difficult to ascertain and may be irreparable, and (B) each Second
Lien Creditor waives any defense that Second Lien Borrower, the other Second Loan Parties and/or the First Lien Creditors cannot demonstrate damage and/or be made whole by the awarding of damages. 

(ii) First Lien Creditor, contrary to this Agreement, in any way take, attempt to or threaten to take any action with
respect to the Collateral (including, without limitation, any attempt to realize upon or enforce any remedy with respect to this Agreement), or fail to take any action required by this Agreement, any Second Lien Creditor (in its or their own name or
in the name of any of the Second Lien Borrower or First Lien Borrowers, as applicable) or any of the Second Lien Borrower or First Lien Borrowers or the other Loan Parties, as applicable, may obtain relief against such First Lien Creditor by
injunction, specific performance and/or other appropriate equitable relief, it being understood and agreed by the First Lien Agent on behalf of each First Lien Creditor that (A) the Second Lien Creditors’ damages from its actions may at
that time be difficult to ascertain and may be irreparable, and (B) each First Lien Creditor waives any defense that First Lien Borrower, the other Loan Parties and/or the Second Lien Creditors cannot demonstrate damage and/or be made whole by
the awarding of damages. 

  
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 SECTION 4 Application Of Proceeds Of Collateral; Dispositions And Releases Of Collateral;
Inspection and Insurance. 
 4.1 Application of Proceeds; Turnover Provisions. All proceeds of Collateral (including
without limitation any interest earned thereon) resulting from the sale, collection or other disposition of Collateral in connection with or resulting from any Enforcement Action with respect to the Collateral, and whether or not pursuant to an
Insolvency Proceeding, shall be distributed as follows: first to the First Lien Agent for application to the First Lien Obligations in accordance with the terms of the First Lien Documents, until the First Lien Discharge Date has occurred,
and thereafter, to the Second Lien Trustee for application in accordance with the Second Lien Documents. Until the occurrence of the First Lien Discharge Date, any Collateral, including without limitation any such Collateral constituting
proceeds, that may be received by any Second Lien Creditor in violation of this Agreement shall be segregated and held in trust and promptly paid over to the First Lien Agent, for the benefit of the First Lien Creditors, in the same form as
received, with any necessary endorsements, and each Second Lien Creditor hereby authorizes the First Lien Agent to make any such endorsements as agent for the Second Lien Trustee (which authorization, being coupled with an interest, is irrevocable).

 4.2 Releases of Subordinate Liens. 
 (a) Upon any release, sale or disposition of Collateral, or the release a Loan Party from its Obligations under its guaranty of the First Lien Obligations which guaranty is secured by a Lien on
Collateral, permitted or consented to pursuant to the terms of the First Lien Documents that results in the release of the Senior Liens on any Collateral (including without limitation any sale or other disposition pursuant to any Enforcement
Action), the Subordinate Liens on such Collateral (but not on any proceeds of such Collateral not required to be paid to the First Lien Creditors except to the extent that the Senior Liens have also been released on such proceeds of Collateral
(other than in the event that such release occurs in the context of the discharge of the First Lien Obligations)), and the Obligations of such Loan Party under any guaranty of the Second Lien Obligations, shall be automatically, unconditionally and
simultaneously released with no further consent or action of any Person. 
 (b) The Second Lien Trustee and the Second Lien
Creditors shall promptly execute and deliver such release documents and instruments and shall take such further actions as the First Lien Agent shall reasonably request to evidence any release of the Subordinate Liens or the guaranty described in
paragraph (a). The Second Lien Trustee, for itself and on behalf of Second Lien Creditors, hereby appoints the First Lien Agent and any officer or duly authorized person of the First Lien Agent, with full power of substitution, as its true and
lawful attorney-in-fact with full irrevocable power of attorney in the place and stead of the Second Lien Trustee and in the name of the Second Lien Trustee or in the First Lien Agent’s own name, from time to time, in the First Lien
Agent’s sole discretion, for the purposes of carrying out the terms of this paragraph, to take any and all appropriate action and to execute and deliver any and all documents and instruments as may be necessary or desirable to accomplish the
purpose of this paragraph, including, without limitation, any financing statements, endorsements, assignments, releases or other documents or instruments of transfer (which appointment, being coupled with an interest, is irrevocable).
Notwithstanding anything herein to the contrary, no provision of this 

  
 14 

 
Section 4.2(b) shall have any effect on the obligations of the Second Lien Borrower under the Second Lien Indenture with respect to any such release of such Collateral. 

4.3 Inspection Rights and Insurance. 
 (a) In connection with any Enforcement Action with respect to the First Lien Obligations, the First Lien Security Documents and the other First Lien Documents, any First Lien Creditor and its
representatives and invitees may at any time inspect, repossess, remove and otherwise deal with the Collateral, and the First Lien Agent may advertise and conduct public auctions or private sales of the Collateral, in each case without notice to,
the involvement of or interference by any Second Lien Creditor or liability to any Second Lien Creditor. 
 (b) Until the First
Lien Discharge Date has occurred, the First Lien Agent, for the benefit of First Lien Creditors, will (i) be named as additional insured and loss payee under any insurance policies maintained from time to time by any Loan Party that names
Second Lien Trustee as additional insured and loss payee and (ii) have the sole and exclusive right (A) to adjust or settle any insurance policy or claim covering the Collateral in the event of any loss thereunder, (B) to approve any
award granted in any condemnation or similar proceeding affecting the Collateral and (C) of control over any deposit accounts of any of the First Lien Borrowers or Second Lien Borrower or any other Loan Party. 

SECTION 5 Insolvency Proceedings. 
 5.1 Filing of Motions; Voting. Until the First Lien Discharge Date has occurred, the Second Lien Trustee agrees on behalf of itself and the other Second Lien Creditors that no Second Lien Creditor
shall, in or in connection with any Insolvency Proceeding, file any pleadings or motions, take any position at any hearing or proceeding of any nature, or otherwise take any action whatsoever, in each case in respect of the Collateral, including,
without limitation, with respect to the determination of First Lien Obligations, any Liens or claims held by the First Lien Agent (including the validity and enforceability thereof) or any other First Lien Creditor or the value of any claims of such
parties under Section 506(a) of the Bankruptcy Code or otherwise; provided that the Second Lien Creditors may file proofs of claim in a Insolvency Proceeding, subject to the terms and limitations contained in this Agreement. The Second
Lien Trustee, for itself and on behalf of Second Lien Creditors, hereby appoints the First Lien Agent and any officer or duly authorized person of the First Lien Agent, with full power of substitution, as its true and lawful attorney-in-fact with
full irrevocable power of attorney in the place and stead of the Second Lien Trustee and Second Lien Creditors, and in the name of the Second Lien Trustee and Second Lien Creditors or in the First Lien Agent’s own name, from time to time, in
the First Lien Agent’s sole discretion, for the purposes of carrying out the terms of this Section 5, to take any and all appropriate action and to execute and deliver any and all documents and instruments as may be necessary or desirable
to accomplish the purpose of this paragraph, and hereby grants the First Lien Agent the express power and authority (which power and authority are coupled with an interest and shall be irrevocable): 

(a) to file appropriate claims (whether by proofs of claim or otherwise) in any Insolvency Proceeding and to take such other actions in
such Insolvency Proceeding as may be 

  
 15 

 
necessary or desirable to prevent the waiver or release of any claims for Second Lien Obligations or to enforce the terms of this Agreement; 

(b) to prosecute and enforce such claims in such Insolvency Proceeding, to initiate and participate in other proceedings to enforce such
Second Lien Obligations, and to collect and receive any and all such cash or other assets which may be paid on account of Second Lien Obligations in such Insolvency Proceeding or in any other proceeding; and 

(c) to exercise any vote with respect to Second Lien Obligations in any Insolvency Proceeding. 

5.2 Financing Matters. If any Loan Party becomes subject to any Insolvency Proceeding, and if the First Lien Agent or the First
Lien Creditors desire to consent (or not object) to the sale, use or lease of cash or other collateral under the Bankruptcy Code or to provide financing to any Loan Party under the Bankruptcy Code or to consent (or not object) to the provision of
such financing to any Loan Party by any third party (“DIP Financing”), then the Second Lien Trustee agrees, on behalf of itself and the other Second Lien Creditors, that each Second Lien Creditor (i) will be deemed to have
consented to, will raise no objection to, nor support any other Person objecting to, the sale, use or lease of such cash or other collateral or to such DIP Financing, (ii) will not request or accept any form of adequate protection or any other
relief in connection with the sale, use or lease of such cash or other collateral or such DIP Financing except as set forth in paragraph 5.4 below, (iii) will subordinate (and will be deemed hereunder to have subordinated) the Subordinate Liens
(x) to such DIP Financing with the same terms and conditions as the Senior Liens are subordinated thereto (and such subordination will not alter in any manner the terms of this Agreement), (y) to any adequate protection provided to the
First Lien Creditors and (z) to any “carve-out” for professional and United States Trustee fees agreed to by the First Lien Agent or the First Lien Creditors, and (iv) agrees that notice received three (3) business days
prior to the entry of an order approving such usage of cash collateral or approving such financing shall be adequate notice. 

5.3 Relief From the Automatic Stay. The Second Lien Trustee agrees, on behalf of itself and the other Second Lien Creditors, that
none of them will, during any Standstill Period, seek relief from the automatic stay or from any other stay in any Insolvency Proceeding or take any action in derogation thereof, in each case in respect of the Second Lien Obligations or any
Collateral, without the prior written consent of the First Lien Agent. 
 5.4 Adequate Protection. The Second Lien
Trustee, on behalf of itself and the other Second Lien Creditors, agrees that none of them shall object, contest, or support any other Person objecting to or contesting, (i) any request by the First Lien Agent or the First Lien Creditors for
adequate protection or (ii) any objection by the First Lien Agent or any other First Lien Creditors to any motion, relief, action or proceeding based on a claim of a lack of adequate protection or (iii) the payment of interest, fees,
expenses or other amounts to the First Lien Agent or any other First Lien Creditor under section 506(b) or 506(c) of the Bankruptcy Code or otherwise. Notwithstanding anything contained in this Section and in Section 5.2, in any Insolvency
Proceeding, (x) the Second Lien Trustee and the Second Lien Creditors, may seek, support, accept or retain adequate protection (A) only if the First Lien Creditors are granted adequate protection that includes replacement Liens on
additional collateral and superpriority 

  
 16 

 
claims and the First Lien Creditors do not object to the adequate protection being provided to the First Lien Creditors and (B) solely in the form of (a) a replacement Lien on
such additional collateral, subordinated to the Liens securing the First Lien Obligations and such DIP Financing on the same basis as the other Liens securing the Second Lien Obligations are so subordinated to the First Lien Obligations under this
Agreement and (b) superpriority claims junior in all respects to the superpriority claims granted to the First Lien Creditors, and (y) in the event the Second Lien Trustee, on behalf of itself and the Second Lien Creditors, receives
adequate protection, including in the form of additional collateral, then the Second Lien Trustee, on behalf of itself or any of the Second Lien Creditors, agrees that the First Lien Creditors shall have a senior Lien and claim on such adequate
protection as security for the First Lien Obligations and that any Lien on any additional collateral securing the Second Lien Obligations shall be subordinated to such Liens on such collateral securing the First Lien Obligations and any DIP
Financing and any other Liens granted to the First Lien Creditors as adequate protection, with such subordination to be on the same terms that the other Liens securing the Second Lien Obligations are subordinated to the Liens securing the First Lien
Obligations under this Agreement. 
 5.5 Avoidance Issues. If any First Lien Creditor is required in any Insolvency
Proceeding or otherwise to disgorge, turn over or otherwise pay to the estate of any Loan Party, because such amount was avoided or ordered to be paid or disgorged for any reason, including without limitation because it was found to be a fraudulent
or preferential transfer, any amount (a “Recovery”), whether received as proceeds of security, enforcement of any right of set-off or otherwise, then the First Lien Obligations shall be reinstated to the extent of such Recovery and
deemed to be outstanding as if such payment had not occurred and the First Lien Discharge Date shall be deemed not to have occurred. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full
force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto until such time as the First Lien Discharge Date shall have fully and finally occurred with respect
to all such reinstated First Lien Obligations. The Second Lien Creditors agree that none of them shall be entitled to benefit from any avoidance action affecting or otherwise relating to any distribution or allocation made in accordance with this
Agreement, whether by preference or otherwise, it being understood and agreed that the benefit of such avoidance action otherwise allocable to them shall instead be allocated and turned over for application in accordance with the priorities set
forth in this Agreement. 
 5.6 Asset Dispositions in an Insolvency Proceeding. Neither the Second Lien Trustee nor any
other Second Lien Creditor shall, in an Insolvency Proceeding or otherwise, oppose any sale or disposition of any assets of any Loan Party that is supported by the First Lien Creditors, and the Second Lien Trustee and each other Second Lien Creditor
will be deemed to have consented under Section 363 of the Bankruptcy Code (and otherwise) to any sale supported by the First Lien Creditors and to have released their Liens in such assets. 

5.7 Grants of Security and Separate Classification. Each Second Lien Creditor acknowledges and agrees that (i) the grants of
Liens pursuant to the First Lien Security Documents and Second Lien Security Documents constitute two separate and distinct grants of Liens, and (ii) among other things, because the Second Lien Obligations are subordinated to the First Lien
Obligations, and because of their differing rights in the Collateral, the Second Lien Obligations are fundamentally different from the First Lien Obligations and must be separately 

  
 17 

 
classified in any plan of reorganization proposed or adopted in an Insolvency Proceeding. To further effectuate the intent of the parties as provided in the immediately preceding sentence, if it
is held that the claims of the First Lien Creditors and Second Lien Creditors constitute only one secured claim (rather than separate classes of senior and junior secured claims), then the Second Lien Creditors hereby acknowledge and agree that all
distributions shall be made as if there were separate classes of senior and junior secured claims against the Loan Parties in respect of the Collateral with the effect being that, to the extent that the aggregate distributions are sufficient (for
this purpose ignoring all claims held by the Second Lien Creditors), the First Lien Creditors shall be entitled to receive, in addition to amounts distributed to them in respect of principal, pre-petition interest and other claim, all amounts owing
in respect of Post-Petition Interest before any distribution is made in respect of the claims held by the Second Lien Creditors, with the Second Lien Creditors hereby acknowledging and agreeing to turn over to the First Lien Agent amounts otherwise
received or receivable by them to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect of reducing the claim or recovery of the Second Lien Creditors. 

5.8 No Waivers of Rights of First Lien Creditors. Nothing contained herein shall prohibit or in any way limit the First Lien Agent
or any other First Lien Creditor from objecting in any Insolvency Proceeding or otherwise to any action taken by any Second Lien Creditor, including the seeking by any Second Lien Creditor of adequate protection or the asserting by any Second Lien
Creditor of any of its rights and remedies under the Second Lien Documents or otherwise, except with respect to such actions expressly permitted hereby. 
 5.9 Plans of Reorganization. No Second Lien Creditor shall support or vote in favor of any plan of reorganization (and each shall be deemed to have voted to reject any plan of reorganization)
unless such plan (i) pays off, in cash in full, all First Lien Obligations or (ii) is accepted by the class of holders of First Lien Obligations voting thereon and is supported by the First Lien Agent. 

5.10 DIP Financings. The Second Lien Trustee, for itself and on behalf of the other Second Lien Creditors, and each of the Second
Lien Creditors by purchasing Second Lien Notes, agrees with each of the First Lien Creditors that neither the Second Lien Trustee, nor any other Second Lien Creditor, will, nor will any of them permit any of their respective affiliates to, without
the prior written consent of the First Lien Agent on behalf of the “Majority Lenders” (as defined in the First Lien Agreement), extend directly or indirectly all or any portion of any DIP Financing; provided, however, the foregoing shall
not restrict the right of any Second Lien Creditor to propose all or a portion of a DIP Financing to First Lien Borrowers, Second Lien Borrower or any other Loan Party in any Insolvency Proceeding. In the event First Lien Agent, on behalf of such
Majority Lenders, shall consent to any such DIP Financing by Second Lien Creditors, and any Second Lien Creditor or an Affiliate of a Second Lien Creditor shall provide any DIP Financing to First Lien Borrowers, Second Lien Borrower or any Loan
Party, such Second Lien Creditor agrees to cause any post petition Liens, any replacement Liens, any super priority Liens, any adequate protection Liens and any administrative expenses that it obtains in connection therewith to be subordinated to
the Senior Liens upon the terms of this Agreement. 
 5.11 Other Matters. To the extent that the Second Lien Trustee or
any Second Lien Creditor has or acquires rights under Section 363 or Section 164 of the Bankruptcy Code with 

  
 18 

 
respect to the Second Lien Obligations or any of the Collateral, the Second Lien Trustee agrees, on behalf of itself and the other Second Lien Creditors not to assert any of such rights without
the prior written consent of the First Lien Agent; provided that if requested by the First Lien Agent, the Second Lien Trustee shall timely exercise such rights in the manner requested by the First Lien Agent, including any rights to payments
in respect of such rights. 
 5.12 Effectiveness in Insolvency Proceedings. This Agreement, which the parties hereto
expressly acknowledge is a “subordination agreement” under section 510(a) of the Bankruptcy Code, shall be effective before, during and after the commencement of Insolvency Proceeding. All references in this Agreement to any Loan Party
shall include such Loan Party as a debtor-in-possession and any receiver or trustee for such Loan Party in any Insolvency Proceeding. 
 5.13 Post-Petition Interest. 
 (a) No Second Lien Creditor may oppose or
seek to challenge any claim by a First Lien Creditor for allowance or payment in any Insolvency Proceeding of First Lien Obligations consisting of Post-Petition Interest. 
 (b) No First Lien Creditor may oppose or seek to challenge in an Insolvency Proceeding a claim by a Second Lien Creditor for allowance of Second Lien Obligations consisting of Post-Petition Interest.

 SECTION 6 First Lien Documents and Second Lien Documents. 

6.1 Amendments to First Lien Documents. The First Lien Documents may be repriced, amended, supplemented, modified, extended,
increased, restated, refinanced or replaced in any and all respects without the consent of the Second Lien Trustee or any other Second Lien Creditor; provided, however, that, without the consent of the Second Lien Trustee, no such
amendment, supplement, modification, restatement, refinancing or replacement shall contravene any provision of this Agreement. 

6.2 Restrictions on Second Lien Documents and Amendments to Second Lien Documents. Unless a similar amendment, supplement or
modification to the applicable First Lien Document has been, or is concurrently being, made, without the prior written consent of the First Lien Agent, the Second Lien Indenture may not be amended, supplemented, modified, increased, restated,
refinanced or replaced to the extent such amendment, supplement, modification, restatement, refinancing or replacement, or the terms of any new Second Lien Indenture, would (i) contravene the provisions of this Agreement, (ii) increase the
interest rate on the Second Lien Notes issued thereunder to a rate higher than thirteen percent (13%) per annum, or impose any fee, original issue discount or similar payment in connection therewith that, together with all such fees, original
issue discounts or similar payments imposed from the date hereof, would exceed two percent (2%) of the amount of the Second Lien Notes, other than the initial fees or original issue discount payable in connection with the initial issuance of
the Second Lien Notes; (iii) change (to earlier dates) any dates upon which payments of principal or interest are due thereon; (iv) change any representation, warranty, covenant, default or event of default thereunder in a manner
materially adverse to the Second Lien Borrower or any of its 

  
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subsidiaries; (v) change the redemption, prepayment or defeasance provisions thereof in a manner which would be materially adverse to the First Lien Creditors; (vi) add Collateral
(unless such Collateral is also provided to the First Lien Agent), or (vii) increase the obligations thereunder of the Second Lien Borrower or any of its subsidiaries or confer any additional rights on the Second Lien Creditors which would be
materially adverse to the First Lien Creditors. Notwithstanding anything herein to the contrary, no provision of this Section 6.2 shall have any effect on the obligations of the Second Lien Borrower under the Second Lien Indenture with respect
to any such amendments. 
 6.3 [Intentionally Omitted]. 

6.4 Application of First Lien Security Document Amendments to Second Lien Security Documents. In the event the First Lien Agent
enters into any amendment, waiver or consent in respect of any of the First Lien Security Documents for the purpose of adding to, or deleting from, or waiving or consenting to any departures from any provisions of, any First Lien Security Document
or changing in any manner the rights of any parties thereunder, then such amendment, waiver or consent shall apply automatically to any comparable provision of the Comparable Second Lien Security Document without the consent of or action by any
Second Lien Creditor (with all such amendments, waivers and modifications subject to the terms hereof); provided that (other than with respect to amendments, modifications or waivers that secure additional extensions of credit and add
additional secured creditors and do not violate the express provisions of the Second Lien Indenture), (A) no such amendment, waiver or consent shall have the effect of removing assets subject to the Lien of any Second Lien Security Document,
except to the extent that such a release of such Lien is pursuant to Section 4.2 hereof, (B) any such amendment, waiver or consent that materially and adversely affects the rights of the Second Lien Creditors and does not affect the First
Lien Creditors in a like or similar manner shall not apply to the Second Lien Security Documents without the consent of the Second Lien Trustee and (C) notice of such amendment, waiver or consent shall be given to the Second Lien Trustee no
later than 30 days after its effectiveness, provided that the failure to give such notice shall not affect the effectiveness and validity thereof. 
 SECTION 7 Reliance; Waivers; etc. 
 7.1 Reliance. The
First Lien Documents are deemed to have been executed and delivered, and all extensions of credit thereunder are deemed to have been made or incurred, in reliance upon this Agreement. The Second Lien Trustee, on behalf of it itself and the Second
Lien Creditors, expressly waives all notice of the acceptance of and reliance on this Agreement by the First Lien Creditors. 

7.2 No Warranties or Liability. The Second Lien Trustee acknowledges and agrees that neither the First Lien Agent nor any other
First Lien Creditor has made any representation or warranty with respect to the execution, validity, legality, completeness, collectability or enforceability of any First Lien Document. Except as otherwise provided in this Agreement, the First Lien
Creditors will be entitled to manage and supervise their extensions of credit to any Loan Party in accordance with law and their usual practices, modified from time to time as they deem appropriate. 

  
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 7.3 No Waivers. No right or benefit of any party hereunder shall at any time in any
way be prejudiced or impaired by any act or failure to act on the part of such party or any other party hereto or by any noncompliance by any Loan Party with the terms and conditions of any of the First Lien Documents or the Second Lien Documents.

 SECTION 8 Obligations Unconditional. 
 8.1 First Lien Obligations Unconditional. All rights and interests of the First Lien Agent hereunder, and all agreements, duties and obligations of the Second Lien Trustee, First Lien Borrowers,
Second Lien Borrower and the other Loan Parties (to the extent applicable) hereunder, shall remain in full force and effect irrespective of: 
 (a) any lack of validity or enforceability of any First Lien Document; 
 (b) any
change in the time, place or manner of payment of, or in any other term of, all or any portion of the First Lien Obligations, or any amendment, waiver or other modification, whether by course of conduct or otherwise, or any refinancing, replacement,
refunding or restatement of any First Lien Document; 
 (c) prior to the First Lien Discharge Date, any exchange, release,
voiding, avoidance or non-perfection of any security interest in any Collateral or any other collateral, or any release, amendment, waiver or other modification, whether by course of conduct or otherwise, or any refinancing, replacement, refunding
or restatement of all or any portion of the First Lien Obligations or any guarantee or guaranty thereof; or 
 (d) any other
circumstances that otherwise might constitute a defense available to, or a discharge of, any Loan Party in respect of the First Lien Obligations, or of any of the Second Lien Trustee, or any Loan Party, to the extent applicable, in respect of this
Agreement. 
 SECTION 9 Representations and Warranties. 

9.1 Representations and Warranties. By its signature hereto, each Person signing this Agreement on behalf of a party hereto
represents and warrants to the other parties hereto that it is duly authorized to execute this Agreement. 
 SECTION 10
Miscellaneous. 
 10.1 Conflicts. In the event of any conflict between the provisions of this Agreement and the
provisions of any First Lien Document or any Second Lien Document, the provisions of this Agreement shall govern. 
 10.2
Continuing Nature of Provisions. This Agreement shall continue to be effective, and shall not be revocable by any party hereto, until the First Lien Discharge Date shall have occurred. This is a continuing agreement and the First Lien
Creditors may continue, at any time and without notice to the other parties hereto, to extend credit and other financial accommodations, lend monies and provide indebtedness to, or for the benefit of, First Lien Borrowers, Second Lien Borrower or
any other Loan Party on the faith hereof. 

  
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 10.3 Amendments; Waivers. No amendment or modification of any of the provisions of
this Agreement shall be effective unless the same shall be in writing and signed by each party hereto. Notwithstanding the foregoing, neither First Lien Borrowers, Second Lien Borrower, nor any Loan Party will have a right to consent to or approve
an amendment or modification of this Agreement except to the extent its rights are directly affected. Notwithstanding anything herein to the contrary, no provision of this Section 10.3 shall have any effect on the obligations of the Second Lien
Borrower under the Second Lien Indenture with respect to any such amendments. 
 10.4 Information Concerning Financial
Condition of First Lien Borrowers, Second Lien Borrower and the other Loan Parties. First Lien Creditors and Second Lien Creditors hereby assume responsibility for keeping themselves informed of the financial condition of First Lien Borrowers,
Second Lien Borrower and each of the other Loan Parties and all other circumstances bearing upon the risk of nonpayment of the First Lien Obligations or the Second Lien Obligations. First Lien Creditors and Second Lien Creditors hereby agree that no
party shall have any duty to advise any other party of information known to it regarding such condition or any such circumstances. Other than as required by this Agreement, in the event the First Lien Agent or the Second Lien Trustee, each in its
sole discretion, respectively, undertakes at any time or from time to time to provide any information to any other party to this Agreement, it shall be under no obligation (A) to provide any such information to such other party or any other
party on any subsequent occasion, (B) to undertake any investigation not a part of its regular business routine, or (C) to disclose any other information. 
 10.5 Governing Law. This Agreement shall be construed in accordance with and governed by the law of the State of New York, except as otherwise required by mandatory provisions of law and except to
the extent that remedies provided by the laws of any jurisdiction other than the State of New York are governed by the laws of such jurisdiction. 
 10.6 Submission to Jurisdiction; Waivers. 
 (a) Each of Second Lien
Trustee, for itself and each Second Lien Creditor, and First Lien Agent, for itself and each First Lien Creditor, hereby irrevocably and unconditionally submits, for itself, the Second Lien Creditors, the First Lien Creditors and their property, to
the non-exclusive jurisdiction of any United States Federal Court sitting in the State of New York or New York state court, 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 any such United States Federal Court
or New York state court. Second Lien Trustee, First Lien Agent, each Second Lien Creditor and each First Lien Creditor 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 First Lien Creditor or Second Lien Creditor may otherwise have to bring any action or proceeding relating to this Agreement, any
First Lien Documents against First Lien Borrowers, Second Lien Borrower or any other Loan Party or its properties, or any Second Lien Documents against Second Lien Borrower, First Lien Borrowers or any other Loan Party or its properties in the
courts with subject matter jurisdiction of any other jurisdiction. 

  
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 (b) First Lien Borrowers, Second Lien Borrower, each other Loan Party , the Second Lien
Creditors and the First Lien Creditors hereby irrevocably and unconditionally waive, to the fullest extent they may legally and effectively do so (x) any objection they 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 paragraph (a) of this Section and (y) the defense of an inconvenient forum to the maintenance of such action or proceeding. 

(c) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 10.7.
Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 
 (d) Each party hereto knowingly, voluntarily and intentionally waives any right any of them may have to a trial by jury in any litigation based upon or arising out of this Agreement or any related
instrument or agreement or any of the transactions contemplated by this Agreement or any course of conduct, dealing, statements (whether oral or written) or action of any of them. None of the parties hereto shall seek to consolidate, by counterclaim
or otherwise, any such action in which a jury trial has been waived with any other action in which a jury trial cannot be or has not been waived. These provisions shall not be deemed to have been modified in any respect or relinquished by any of the
parties hereto except by a written instrument executed by all of them. 
 10.7 Notices. Unless otherwise specifically
provided herein, any notice or other communication herein required or permitted to be given shall be in writing and may be personally served, telecopied, or sent by overnight express courier service or United States mail and shall be deemed to have
been given when delivered in person or by courier service, upon receipt of a telecopy or five (5) days after deposit in the United States mail (certified, with postage prepaid and properly addressed). For the purposes hereof, the addresses of
the parties hereto (until notice of a change thereof is delivered as provided in this Section) shall be as set forth below each party’s name on the signature pages hereof, or, as to each party, at such other address as may be designated by such
party in a written notice to all of the other parties. The Second Lien Trustee agrees to accept and act upon instructions or directions pursuant to this Agreement sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic
methods (including pdf files). If the party elects to give the Second Lien Trustee e-mail or facsimile instructions (or instructions by a similar electronic method) and the Second Lien Trustee in its discretion elects to act upon such instructions,
the Second Lien Trustee’s understanding of such instructions shall be deemed controlling. 
 10.8 Successors and
Assigns. This Agreement shall be binding upon and inure to the benefit of each of the parties hereto and each of the First Lien Creditors and Second Lien Creditors and their respective successors and assigns, and nothing herein is intended, or
shall be construed to give, any other Person any right, remedy or claim under, to or in respect of this Agreement or any Collateral. All references to any Loan Party shall include any Loan Party as debtor-in-possession and any receiver or trustee
for such Loan Party in any Insolvency Proceeding. 
 10.9 Further Assurances. The Second Lien Trustee, on behalf of
itself and the Second Lien Creditors under the Second Lien Documents, and First Lien Borrowers and Second Lien 

  
 23 

 
Borrower, on behalf of the Loan Parties, agree that it shall take such further action and shall execute and deliver such additional documents and instruments (in recordable form, if requested) as
the First Lien Agent or any other First Lien Creditor may reasonably request to effectuate the terms of and the Lien priorities contemplated by this Agreement. 
 10.10 Subrogation. The Second Lien Trustee, on behalf of itself and the Second Lien Creditors, hereby agrees that it shall not collect upon any rights of subrogation they may acquire as a result of
any payment hereunder prior to the occurrence of the First Lien Discharge Date. 
 10.11 Application of Payments. All
payments received by the First Lien Agent or the First Lien Creditors may be applied, reversed and reapplied, in whole or in part, to such part of the First Lien Obligations provided for in the First Lien Documents. The Second Lien Trustee, on
behalf of itself and the Second Lien Creditors, assents to any extension or postponement of the time of payment of the First Lien Obligations or any part thereof and to any other indulgence with respect thereto, to any substitution, exchange or
release of any security which may at any time secure any part of the First Lien Obligations and to the addition or release of any other Person primarily or secondarily liable therefore, in each case to the extent undertaken in accordance with this
Agreement. 
 10.12 Specific Performance. The First Lien Agent, any other First Lien Creditor, the Second Lien Trustee
and any other Second Lien Creditor may demand specific performance of this Agreement. The Second Lien Trustee, on behalf of itself and the Second Lien Creditors, and the First Lien Agent, on behalf of itself and the First Lien Creditors, each hereby
irrevocably waive any defense based on the adequacy of a remedy at law and any other defense which might be asserted to bar the remedy of specific performance in any action which may be brought by the First Lien Agent, any First Lien Creditor, the
Second Lien Trustee or any Second Lien Creditor, respectively. 
 10.13 Headings. Section headings 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. 
 10.14 Severability. Any provision of this Agreement 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; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other
jurisdiction. 
 10.15 Counterparts; Integration; Effectiveness. This Agreement may be executed in counterpart (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. Delivery of an executed counterpart of a signature page of this Agreement by
telecopy shall be effective as delivery of a manually executed counterpart of this Agreement. This Agreement shall become effective when it shall have been executed by each party hereto. 

10.16 WAIVER OF JURY TRIAL. EACH OF THE FIRST LIEN AGENT, SECOND LIEN TRUSTEE, FIRST LIEN BORROWERS AND SECOND LIEN

  
 24 

 
BORROWER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE
SECOND LIEN NOTES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 10.17 Rights of Second Lien Trustee. With respect to
the Second Lien Borrower, the First Lien Borrowers and each other Loan Party, in addition to the foregoing rights, in acting hereunder and by virtue of this Agreement, the Second Lien Trustee shall have all of the rights, protections and immunities
granted to it under the Existing Second Lien Indenture, all of which are incorporated by reference herein as they relate to the Second Lien Borrower, the First Lien Borrowers, each other Loan Party and the Second Lien Trustee. 

[Remainder of Page Intentionally Left Blank.] 

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

			
	UNION BANK, N.A., as First Lien Agent for and on behalf of the First Lien Creditors
		
	By:	 	/s/ Damien Meiburger
	Name:	 	Damien Meiburger
	Title:	 	Senior Vice President

  

			
	 Address for Notices:

500 North Akard
 4200 Lincoln Plaza

Dallas, Texas 75201
 Attention: Damien
Meiburger
 Telephone: (214) 922-4200

Facsimile: (214) 922-4209

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Second Lien Trustee for and on behalf of the Second Lien Creditors
		
	By:	 	/s/ Linda Garcia
	Name	 	Linda Garcia
	Title:	 	Vice President

 Address for Notices: 

2 N. LaSalle Street 
 Suite 1020 

Chicago, Il 60602 

 
					
	CENTURY EXPLORATION NEW ORLEANS, INC., as a First Lien Borrower
		
	By:	 	/s/ Jeffrey T. Craycraft
		 	Name:	 	Jeffrey T. Craycraft
		 	Title	 	Treasurer

  

					
	CENTURY EXPLORATION HOUSTON, INC., as a First Lien Borrower
		
	By:	 	/s/ Jeffrey T. Craycraft
		 	Name:	 	Jeffrey T. Craycraft
		 	Title	 	Treasurer

  

					
	RAAM GLOBAL ENERGY COMPANY, as Second Lien Borrower
		
	By:	 	/s/ Jeffrey T. Craycraft
		 	Name:	 	Jeffrey T. Craycraft
		 	Title	 	Treasurer

  

			
	 Address for Notices:

1537 Bull Lea Road
 Lexington, Kentucky
40511
 Telephone: (859) 253-1300

Facsimile: (859) 281-6066

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