Document:

Fourth Amendment to Amended and Restated Credit Agreement

 Exhibit 10.2 
 EXECUTION VERSION 
 FOURTH AMENDMENT TO 
 AMENDED AND RESTATED CREDIT AGREEMENT 
 FOURTH AMENDMENT TO AMENDED AND RESTATED
CREDIT AGREEMENT (hereinafter referred to as the “Amendment”) dated as of April 17, 2009, by and among EXCO OPERATING COMPANY, LP (formerly known as EXCO Partners Operating Partnership, LP) (“Borrower”),
CERTAIN SUBSIDIARIES OF BORROWER, as Guarantors (the “Guarantors”), the LENDERS party hereto (the “Lenders”), and JPMORGAN CHASE BANK, N.A., as Administrative Agent (“Administrative Agent”). Unless
the context otherwise requires or unless otherwise expressly defined herein, capitalized terms used but not defined in this Amendment have the meanings assigned to such terms in the Credit Agreement (as defined below). 
 WITNESSETH: 
 WHEREAS,
Borrower, Guarantors, Administrative Agent and Lenders have entered into that certain Amended and Restated Credit Agreement dated as of March 30, 2007, as amended by that certain First Amendment to Amended and Restated Credit Agreement dated as
of February 20, 2008, that certain Second Amendment to Amended and Restated Credit Agreement dated as of July 14, 2008 and that certain Third Amendment to Amended and Restated Credit Agreement dated as of December 1, 2008 (as the same
may be further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); and 
 WHEREAS, Administrative Agent, Lenders, Borrower and Guarantors desire to amend the Credit Agreement as provided herein upon the terms and conditions set forth herein. 
 NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged and confessed, Borrower, Guarantors, Administrative Agent and the Lenders hereby agree as follows: 
 SECTION 1. Amendments to Credit Agreement. Subject to the satisfaction or waiver in writing of each condition precedent set forth in Section 2 hereof, and in reliance on the representations,
warranties, covenants and agreements contained in this Amendment, the Credit Agreement shall be amended in the manner provided in this Section 1. 
 1.1 Additional Definitions. The following definitions shall be and they hereby are added to Section 1.01 of the Credit Agreement in appropriate alphabetical order:  
 “Cash Collateral Account” has the meaning assigned to such term in Section 2.07(j). 
 “LMIR” means, for any day, a rate per annum equal to the rate for one month U.S. dollar deposits as reported on
Reuters BBA Libor Rates Page 3750 as of 11:00 a.m., London time, on such day, or if such day is not a Business Day, then the immediately preceding Business Day (or if not so reported, then any successor to or substitute for such service, providing
rate quotations comparable to those currently provided on such page of such service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London
interbank market). 
  

 Fourth Amendment to Amended and Restated Credit Agreement 
 65283302.6 

 1.2 Amended Definitions. Section 1.01 of the Credit Agreement shall be and it hereby
is amended by amending and restating the following definitions in their respective entireties to read as follows: 
 “Alternate Base Rate” means, for any day, a rate per annum
equal to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus one-half of one percent ( 1/2
 of 1%) and (c) the LMIR on such day plus 1.00%. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the LMIR shall be effective from and
including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the LMIR, respectively. 
 “Applicable Rate” means, for any day, with respect to any Eurodollar Loan or ABR Loan, or with respect to the Unused Commitment Fees payable hereunder, as the case may be, the applicable rate per
annum set forth below under the caption “Eurodollar Spread”, “ABR Spread” or “Unused Commitment Fee Rate”, as the case may be, based upon the Borrowing Base Usage applicable on such date: 
  

							
	 Borrowing Base
 Usage
	 	Eurodollar
Spread	 	ABR
Spread	 	Unused
Commitment
Fee Rate
	> 90%	 	250 b.p.	 	150 b.p.	 	50 b.p.
				
	> 75% and < 90%	 	225 b.p.	 	125 b.p.	 	50 b.p.
				
	> 50% and < 75%	 	200 b.p.	 	100 b.p.	 	50 b.p.
				
	< 50%	 	175 b.p.	 	  75 b.p.	 	50 b.p.

 Each change in the Applicable Rate shall apply during the period commencing on the effective
date of such change and ending on the date immediately preceding the effective date of the next change. 
 “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York, New York or Dallas, Texas are authorized or required by law to remain closed; provided that, when
used in connection with a Eurodollar Loan or to determine LMIR, the term “Business Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the London interbank market. 
 “Cash Management Obligations” means, with respect to any Credit Party, any obligations of such Credit Party owed to
any Lender (or any Affiliate of any Lender) in respect of treasury management arrangements, depositary or other cash management services, including commercial credit card and merchant card services. 
  

 Fourth Amendment to Amended and Restated Credit Agreement – Page 2 
 65283302.6 

 “Defaulting Lender” means any Lender, as reasonably determined by the
Administrative Agent, that has (a) failed to fund any portion of the Loans, participations in LC Disbursements or participations in Swingline Loans required to be funded by it hereunder within one Business Day of the date required to be funded
by it hereunder, (b) notified the Borrower, the Administrative Agent, the Issuing Bank, the Swingline Lender or any Lender in writing that it does not intend to comply with any of its funding obligations under this Agreement or has made a
public statement to the effect that it does not intend to comply with its funding obligations under this Agreement, (c) otherwise failed to pay over to the Administrative Agent or any other Lender any other amount required to be paid by it
hereunder within one Business Day of the date when due, unless the subject of a good faith dispute, or (d) (i) become or is insolvent or has a parent company that has become or is insolvent or (ii) become the subject of a bankruptcy
or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment or has a
parent company that has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee or custodian appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or
acquiescence in any such proceeding or appointment; provided that the Administrative Agent shall provide written notice to any Lender determined by the Administrative Agent to be a Defaulting Lender hereunder (and the Administrative Agent shall
provide a copy of such determination to the Borrower). 
 “Permitted Refinancing” means any
Indebtedness of the Borrower, and Indebtedness constituting Guarantees thereof by Restricted Subsidiaries, incurred or issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace (whether or not
contemporaneously), defease or refund, other Indebtedness of the Borrower, in whole or in part, from time to time; provided that (i) the aggregate principal amount of such Permitted Refinancing does not exceed the aggregate principal
amount of Indebtedness permitted under Section 7.01(h), (ii) such Permitted Refinancing has a stated maturity no later than January 15, 2010, (iii) the covenant, default and remedy provisions of such Permitted Refinancing are not
materially more restrictive, taken as a whole, on the Borrower and its Subsidiaries than those set forth in the term sheet attached hereto as Annex I, and (iv) such Permitted Refinancing and any Guarantee in respect thereof is unsecured.

  

 Fourth Amendment to Amended and Restated Credit Agreement – Page 3 
 65283302.6 

 1.3 Swingline Loans. Clause (a) of Section 2.06 of the Credit Agreement shall be
and it hereby is amended and restated in its entirety to read as follows: 
 (a) Subject to the terms and conditions set
forth herein, the Swingline Lender agrees to make Swingline Loans to the Borrower from time to time during the Availability Period, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal
amount of outstanding Swingline Loans exceeding $10,000,000 or (ii) the Aggregate Credit Exposure exceeding the Aggregate Commitment, provided that the Swingline Lender shall not be required to make a Swingline Loan (x) to refinance an
outstanding Swingline Loan or (y) if at the time such Swingline Loan is requested by the Borrower pursuant to Section 2.06(b), any Lender is a Defaulting Lender. Within the foregoing limits and subject to the terms and conditions set forth
herein, the Borrower may borrow, prepay and reborrow Swingline Loans. 
 1.4 Swingline Loans. Section 2.06 of the
Credit Agreement shall be and it hereby is amended by adding a new clause (d) to the end thereof to read as follows: 
 (d) If any Swingline Loan is outstanding at the time any Lender is a Defaulting Lender, upon the written request of the Swingline Lender, the Borrower shall promptly, and in any event within one (1) Business Day after receipt of
such written request, prepay to the Swingline Lender the then unpaid principal amount of each Swingline Loan. 
 1.5 Letters of
Credit. Clause (b) of Section 2.07 of the Credit Agreement shall be and it hereby is amended by adding the following provision to the end thereof: 
 Notwithstanding the foregoing, the Issuing Bank shall not at any time be obligated to issue, amend, renew or extend any Letter of
Credit if any Lender is at such time a Defaulting Lender hereunder, unless the Borrower cash collateralizes such Defaulting Lender’s portion of the total LC Exposure (calculated after giving effect to the issuance, amendment, renewal or
extension of such Letter of Credit) in accordance with the procedures set forth in Section 2.07(j). 
 1.6 Letters of Credit.
Clause (j) of Section 2.07 of the Credit Agreement shall be and it hereby is amended and restated in its entirety to read as follows: 
 (j) Cash Collateralization. 
 (i) If at any time the Borrower elects to cash
collateralize the LC Exposure of any Defaulting Lender pursuant to Section 2.07(b), the Borrower shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Lenders (the
“Cash Collateral Account”), an amount in cash equal to such Defaulting Lender’s portion of the total LC Exposure at such time as calculated pursuant to Section 2.07(b) (less any amounts already on deposit in such Cash
Collateral Account representing cash collateral for any portion of such Defaulting Lender’s portion of the total LC Exposure). 
 (ii) If any Letter of Credit is outstanding at the time any Lender is a Defaulting Lender, upon the written request of the Issuing Bank demanding the deposit of cash collateral pursuant to this paragraph, the
Borrower shall promptly, and in any event 

  

 Fourth Amendment to Amended and Restated Credit Agreement – Page 4 
 65283302.6 

 
within one (1) Business Day after receipt by the Borrower of written notice, cash collateralize such Defaulting Lender’s portion of the total LC
Exposure at such time by depositing in the Cash Collateral Account an amount in cash equal to such Defaulting Lender’s portion of the total LC Exposure (less any amounts already on deposit in such Cash Collateral Account representing cash
collateral for any portion of such Defaulting Lender’s portion of the total LC Exposure). 
 (iii) If any Event of Default shall occur and be continuing, on the Business Day that the Borrower receives notice from the Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been
accelerated, Lenders with LC Exposure representing greater than sixty-six and two-thirds percent (66 2/3%) of the total LC
Exposure) demanding the deposit of cash collateral pursuant to this paragraph, the Borrower shall deposit in the Cash Collateral Account an amount in cash equal to the total LC Exposure as of such date plus any accrued and unpaid interest thereon;
provided that the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with
respect to the Borrower described in clause (h) or (i) of Article IX. 
 (iv) Deposits in the Cash Collateral Account made pursuant to the foregoing paragraphs (i), (ii) and (iii) shall be held by the Administrative Agent as collateral for the payment and performance of the
obligations of the Borrower under this Agreement and Borrower hereby grants a security interest in such cash and each deposit account into which such cash is deposited to secure the Obligations. The Administrative Agent shall have exclusive dominion
and control, including the exclusive right of withdrawal, over the Cash Collateral Account. Other than interest at the rate per annum in effect for accounts of the same type maintained with the Administrative Agent at such time and any interest
earned on the investment of such deposits, which investments shall be of the type described in clause (b) of the definition of Permitted Investments and shall be made by the Administrative Agent in consultation with the Borrower (unless an
Event of Default shall have occurred and be continuing, in which case, such investments shall be made at the option and sole discretion of the Administrative Agent) and at the Borrower’s risk and expense, such deposits shall not bear interest.
Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not been reimbursed and, to
the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of Lenders with LC
Exposure representing sixty-six and two-thirds percent (66 2/3%) or more of the total LC Exposure), be applied to satisfy
other Obligations of the Borrower under this Agreement. 
  

 Fourth Amendment to Amended and Restated Credit Agreement – Page 5 
 65283302.6 

 (v) If the Borrower is required to provide an amount of cash collateral pursuant to
paragraphs (i), (ii) or (iii) above, such amount (to the extent not applied as aforesaid) shall be returned to the Borrower within three (3) Business Days after (x) in the case of cash collateral provided pursuant to paragraphs
(i) or (ii) above, the applicable Defaulting Lender is no longer a Defaulting Lender and (y) in the case of cash collateral provided pursuant to paragraph (iii) above, all Events of Default have been cured or waived.

 1.7 Fees. Clauses (a) and (b) of Section 2.13 of the Credit Agreement shall be and they hereby are
amended and restated in their entirety to read as follows: 
 (a) The Borrower agrees to pay to the Administrative Agent,
for the account of each Lender, an unused commitment fee (the “Unused Commitment Fee”) equivalent to the Applicable Rate times the daily average of the total Unused Commitments. Such Unused Commitment Fee shall be calculated on the
basis of a year consisting of 360 days. The Unused Commitment Fee shall be payable in arrears on the last day of March, June, September and December of each year, commencing with the first such date to occur after the Effective Date, and on the
Maturity Date for any period then ending for which the Unused Commitment Fee shall not have been theretofore paid. In the event the Aggregate Commitment terminates on any date other than the last day of March, June, September or December of any
year, the Borrower agrees to pay to the Administrative Agent, for the account of each Lender, on the date of such termination, the total Unused Commitment Fee due for the period from the last day of the immediately preceding March, June, September
or December, as the case may be, to the date such termination occurs. Notwithstanding anything to the contrary contained herein, for so long as any Lender is a Defaulting Lender hereunder, the portion of the Unused Commitment Fee attributable to
such Defaulting Lender shall cease to accrue pursuant to the terms of this Section 2.13(a) and the Borrower shall have no obligation to pay any Unused Commitment Fee for the account of such Defaulting Lender for the period of time such Lender
is a Defaulting Lender. 
 (b) The Borrower agrees to pay (i) to the Administrative Agent for the account of each
Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Eurodollar Loans on the average daily amount of such Lender’s
LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such Lender’s Commitment terminates and the date
on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the Borrower and the Issuing Bank on the average daily amount of
the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of termination of the Aggregate Commitment and the date on
which there ceases to be any LC Exposure, as well 

  

 Fourth Amendment to Amended and Restated Credit Agreement – Page 6 
 65283302.6 

 
as the Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings
thereunder. Participation fees and fronting fees accrued through and including the last day of March, June, September and December of each year shall be payable on the third Business Day following such last day, commencing on the first such date to
occur after the Effective Date; provided that all such fees shall be payable on the date on which the Aggregate Commitment terminates and any such fees accruing after the date on which the Aggregate Commitment terminates shall be payable on
demand. Any other fees payable to the Issuing Bank pursuant to this paragraph shall be payable within ten (10) days after demand. All participation fees and fronting fees shall be computed on the basis of a year of 360 days and shall be payable
for the actual number of days elapsed (including the first day but excluding the last day). Notwithstanding anything to the contrary contained herein, for so long as any Lender is a Defaulting Lender hereunder and, to the extent required, the
Borrower has cash collateralized such Defaulting Lender’s portion of the total LC Exposure pursuant to Section 2.07(j), the portion of the participation fees attributable to such Defaulting Lender pursuant to clause (i) of this
Section 2.13(b) shall cease to accrue pursuant to the terms of this Section 2.13(b) and the Borrower shall have no obligation to pay any participation fees to the Administrative Agent for the account of such Defaulting Lender for the
period of time such Lender is a Defaulting Lender and, to the extent required, such Defaulting Lender’s portion of the total LC Exposure is cash collateralized pursuant to Section 2.07(j); provided, however, that in the event the Borrower
has not cash collateralized any Defaulting Lender’s portion of the total LC Exposure pursuant to, and as required under, Section 2.07(j), then, without prejudice to any rights or remedies of the Issuing Bank or any Lender hereunder, all
participation fees accruing during the period of time such Lender is a Defaulting Lender that otherwise would have been payable for the account of such Defaulting Lender pursuant to clause (i) of this Section 2.13(b) shall be payable to
the Issuing Bank for the account of the Issuing Bank until such Defaulting Lender’s LC Exposure is cash collateralized pursuant to, and as required under, Section 2.07(j). 
 1.8 Financial Statements; Other Information. Clauses (a) and (b) of Section 6.01 of the Credit Agreement shall be and they
hereby are amended and restated in their entirety to read as follows: 
 (a) within ninety (90) days after the end of
each fiscal year of the Borrower, the audited consolidated (and unaudited consolidating) balance sheet and related consolidated (and with respect to statements of operations, consolidating) statements of operations, partners’ equity and cash
flows of the Borrower and its Consolidated Subsidiaries as of the end of and for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by a firm of independent public accountants
reasonably acceptable to Administrative Agent (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements

  

 Fourth Amendment to Amended and Restated Credit Agreement – Page 7 
 65283302.6 

 
present fairly in all material respects the financial condition and results of operations of the Borrower and its Consolidated Subsidiaries on a
consolidated basis in accordance with GAAP consistently applied; 
 (b) within forty-five (45) days after the end
of each fiscal quarter of the Borrower, the consolidated (and unaudited consolidating) balance sheet and related consolidated (and with respect to statements of operations, consolidating) statements of operations, partners’ equity and cash
flows of the Borrower and its Consolidated Subsidiaries as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods
of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by a Responsible Officer as presenting fairly in all material respects the financial condition and results of operations of the Borrower and its
Consolidated Subsidiaries on a consolidated and consolidating basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes; 
 1.9 Title Data. Section 6.10 of the Credit Agreement shall be and it hereby is amended and restated in its entirety to read as
follows: 
 Section 6.10. Title Data. The Borrower will, and will cause each Guarantor to, deliver to the
Administrative Agent such opinions of counsel or other evidence of title as the Administrative Agent shall deem reasonably necessary or appropriate to verify (a) at all times from and after the Effective Date, not less than ninety percent
(90%) of the Engineered Value of the Borrowing Base Properties that are required to be subject to a Mortgage pursuant to Section 6.09 and (b) the validity, perfection and priority of the Liens created by such Mortgages and such other
matters regarding such Mortgages as Administrative Agent shall reasonably request. 
 1.10 Affirmative Covenants. Article
VI of the Credit Agreement shall be and it hereby is amended by adding a new Section 6.16 to the end thereof to read as follows: 
 Section 6.16. Prepayment of Term Loans. Upon receipt of any cash equity contribution from EXCO or any of its Subsidiaries (other than the Credit Parties), the Borrower shall promptly, and in any event
within one (1) Business Day after receipt thereof, use the proceeds of such cash equity contribution to prepay the Revolving Loans to the extent required to cause the Aggregate Commitment to exceed the Aggregate Credit Exposure by an amount
equal to ten percent (10%) of the Aggregate Commitment and so long as no Default has occurred and is continuing or would result from the making of such prepayment, use any remaining proceeds from such cash equity contribution to prepay the Term
Loans; provided that if a Default exists at the time such cash equity contribution is received by the Borrower or would occur as a result of such prepayment of the Term Loans, the Borrower shall use all of the proceeds of such cash equity
contribution to prepay the Revolving Loans. 
  

 Fourth Amendment to Amended and Restated Credit Agreement – Page 8 
 65283302.6 

 1.11 Indebtedness. Clause (h) of Section 7.01 of the Credit Agreement shall be
and it hereby is amended and restated in its entirety to read as follows: 
 (h) unsecured Indebtedness of the Borrower
under the Senior Unsecured Term Loan Facility in an aggregate outstanding principal amount not to exceed at any time $300,000,000 less the aggregate amount of all repayments and prepayments of any Term Loans, and any Permitted Refinancing of any
Indebtedness permitted under this clause (h); and 
 1.12 Swap Agreements. Section 7.05 of the Credit Agreement shall
be and it hereby is amended and restated in its entirety to read as follows: 
 Section 7.05 Swap Agreements.
The Borrower will not, nor will it permit any of its Restricted Subsidiaries to, enter into or maintain any Swap Agreement, except the Existing Swap Agreements, and Swap Agreements entered into in the ordinary course of business with Approved
Counterparties and not for speculative purposes to (a) hedge or mitigate Crude Oil and Natural Gas price risks to which the Borrower or any Restricted Subsidiary has actual exposure, and (b) effectively cap, collar or exchange interest
rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of any Credit Party; provided that such Swap Agreements (at the time each
transaction under such Swap Agreement is entered into) would not cause the aggregate notional amount of Hydrocarbons under all Swap Agreements then in effect (including the Existing Swap Agreements) to exceed at any time (i) eighty percent
(80%) of the “forecasted production from total proved reserves” (as defined below) of the Borrower and the Restricted Subsidiaries for each of the first two years of the forthcoming five year period and (ii) seventy percent
(70%) of the forecasted production from total proved reserves of the Borrower and the Restricted Subsidiaries for each of the third, fourth and fifth years of the forthcoming five year period. As used in this Section, “forecasted
production from total proved reserves” means the forecasted production of Crude Oil and Natural Gas as reflected in the most recent Reserve Report delivered to the Administrative Agent pursuant to Section 6.01, after giving effect to any
pro forma adjustments for the consummation of any acquisitions or dispositions since the effective date of such Reserve Report. Once the Borrower or any Restricted Subsidiaries enters into a Swap Agreement or any hedge transaction pursuant to any
Swap Agreement, the terms and conditions of such Swap Agreement and such hedge transaction may not be amended or modified, nor may such Swap Agreement or hedge transaction be sold, assigned, transferred, cancelled or otherwise disposed of without
the prior written consent of Majority Lenders. Each Credit Party and each Lender agrees and acknowledges that (i) the Existing Swap Agreements are Swap Agreements permitted under this Section 7.05, (ii) as of the Effective Date, the
counterparty to each Existing Swap Agreement is a Lender Counterparty, and (iii) the obligations of the Credit Parties under the Existing Swap Agreements are included in the defined term “Obligations” and such obligations are entitled
to the benefits of, and are secured by the Liens granted under, the Security Instruments. 
  

 Fourth Amendment to Amended and Restated Credit Agreement – Page 9 
 65283302.6 

 1.13 Events of Default. Clause (d) of Article IX of the Credit Agreement shall be and
it hereby is amended and restated in its entirety to read as follows: 
 (d) the Borrower or any Restricted Subsidiary
shall fail to observe or perform any covenant, condition or agreement contained in Section 2.12, Section 6.01, Section 6.02, Section 6.03 (with respect to the Borrower or any Restricted Subsidiary’s existence),
Section 6.05 (with respect to insurance), Section 6.08, Section 6.16 or in Article VII; 
 1.14 Notices. Subclause
(ii) of Section 11.01(a) of the Credit Agreement shall be and it hereby is amended and restated in its entirety to read as follows: 
 (ii) if to the Administrative Agent or Issuing Bank, to JPMorgan Chase Bank,
N.A., Mail Code IL1-0010, 10 South Dearborn, Chicago, Illinois 60603-2003, Telecopy No. (312) 385-7096, Attention: Claudia Kech, with a copy to JPMorgan Chase Bank, N.A., 2200 Ross Avenue, 3rd
 Floor, TX1-2911, Dallas, Texas 75201, Telecopy No. (214) 965-3280, Attention: Kimberly A. Coil, Senior Vice President; 
 1.15 Reaffirmation of Borrowing Base. This Amendment shall constitute a notice of the reaffirmation of the Borrowing Base pursuant to
Section 3.04 of the Credit Agreement, and Administrative Agent hereby notifies Borrower that, as of the effective date of this Amendment, the Borrowing Base is $1,300,000,000 until the next Redetermination Date. 
 SECTION 2. Conditions. The amendments to the Credit Agreement and the reaffirmation of the Borrowing Base set forth in Section 1 of this
Amendment shall be effective upon the satisfaction of each of the conditions set forth in this Section 2. 
 2.1 Execution and
Delivery. Each Credit Party, the Required Lenders and the Administrative Agent shall have executed and delivered this Amendment. 
 2.2 No Default. No Default or Event of Default shall have occurred and be continuing or shall result after giving effect to this Amendment. 
 2.3 Other Documents. The Administrative Agent shall have received such other instruments and documents incidental and appropriate to the transaction provided for herein as the Administrative Agent or its
special counsel may reasonably request, and all such documents shall be in form and substance satisfactory to the Administrative Agent. 
 SECTION 3.
Representations and Warranties of Borrower. To induce the Lenders to enter into this Amendment, each Credit Party hereby represents and warrants to the Lenders as follows: 
 3.1 Reaffirmation of Representations and Warranties/Further Assurances. After giving effect to the amendments herein, each representation and
warranty of such Credit Party contained in the Credit Agreement or in any other Loan Document is true and correct in all material respects on the date hereof (except to the extent such representations and warranties relate solely to an earlier date,
in which case such representations and warranties shall have been true and correct in all material respects as of such date). 
  

 Fourth Amendment to Amended and Restated Credit Agreement – Page 10 
 65283302.6 

 3.2 Corporate Authority; No Conflicts. The execution, delivery and performance by such Credit
Party of this Amendment and all documents, instruments and agreements contemplated herein are within such Credit Party’s corporate or other organizational powers, have been duly authorized by all necessary action, require no action by or in
respect of, or filing with, any court or agency of government and do not violate or constitute a default under any provision of any applicable law or other agreements binding upon such Credit Party or result in the creation or imposition of any Lien
upon any of the assets of such Credit Party except for Liens permitted under Section 7.02 of the Credit Agreement. 
 3.3
Enforceability. This Amendment has been duly executed and delivered by each Credit Party and constitutes the valid and binding obligation of such Credit Party enforceable in accordance with its terms, except as (i) the enforceability
thereof may be limited by bankruptcy, insolvency or similar laws affecting creditor’s rights generally, and (ii) the availability of equitable remedies may be limited by equitable principles of general application. 
 3.4 No Default. As of the effective date of this Amendment, both before and immediately after giving effect to this Amendment, no Default or Event
of Default has occurred and is continuing. 
 SECTION 4. Miscellaneous. 
 4.1 Reaffirmation of Loan Documents and Liens. Except as amended and modified hereby, any and all of the terms and provisions of the Credit
Agreement and the other Loan Documents shall remain in full force and effect and are hereby in all respects ratified and confirmed by each Credit Party. Each Credit Party hereby agrees that the amendments and modifications herein contained shall in
no manner affect or impair the liabilities, duties and obligations of any Credit Party under the Credit Agreement and the other Loan Documents or the Liens securing the payment and performance thereof. 
 4.2 Parties in Interest. All of the terms and provisions of this Amendment shall bind and inure to the benefit of the parties hereto and their
respective successors and assigns. 
 4.3 Legal Expenses. Each Credit Party hereby agrees to pay all reasonable fees and expenses of
special counsel to the Administrative Agent incurred by the Administrative Agent in connection with the preparation, negotiation and execution of this Amendment and all related documents. 
 4.4 Counterparts. This Amendment may be executed in one or more counterparts and by different parties hereto in separate counterparts each of
which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument; signature pages may be detached from multiple separate counterparts and attached to a single
counterpart so that all signature pages are physically attached to the same document. Delivery of photocopies of the signature pages to this Amendment by facsimile or electronic mail shall be effective as delivery of manually executed counterparts
of this Amendment. 
  

 Fourth Amendment to Amended and Restated Credit Agreement – Page 11 
 65283302.6 

 4.5 Complete Agreement. THIS AMENDMENT, THE CREDIT AGREEMENT, AND THE OTHER LOAN DOCUMENTS
REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. 
 4.6 Headings. The headings, captions and arrangements used in this Amendment are, unless specified otherwise, for convenience only and shall not
be deemed to limit, amplify or modify the terms of this Amendment, nor affect the meaning thereof. 
 4.7 Severability. Any provision
of this Amendment 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. 
 4.8 Governing Law. This Amendment shall be construed in accordance with and governed by the laws of the State of New York. 
 [Signature Pages Follow] 
  

 Fourth Amendment to Amended and Restated Credit Agreement – Page 12 
 65283302.6 

 IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed as of the date
first above written. 
  

					
	BORROWER:
	
	EXCO OPERATING COMPANY, LP
	(formerly known as EXCO Partners Operating Partnership, LP)
		
	By:	 	 EXCO Partners OLP GP, LLC
 its sole
general partner

			
		 	By:	 	 /s/ J. Douglas Ramsey

		 	Name:	 	J. Douglas Ramsey, Ph.D.
		 	Title:	 	Vice President and Chief Financial Officer

					
	
	Address for Notices:
	
	EXCO Operating Company, LP
	12377 Merit Drive, Suite 1700
	Dallas, Texas 75251
	Facsimile No. 214-368-2087
	Attn:	 	Douglas H. Miller
		 	Chief Executive Officer
		
	and	 	
		
	Attn:	 	J. Douglas Ramsey
		 	Chief Financial Officer

					
	
	GUARANTORS:
	
	GARRISON GATHERING, LLC
	VAUGHAN DE, LLC
	VAUGHAN HOLDING COMPANY, L.L.C.
	VERNON GATHERING, LLC
		
	By:	 	 /s/ J. Douglas Ramsey

	Name:	 	J. Douglas Ramsey, Ph.D.
	Title:	 	Vice President and Chief Financial Officer for each of the Credit Parties listed above

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

					
	TALCO MIDSTREAM ASSETS, LTD.
		
	By:	 	 VAUGHAN HOLDING COMPANY, L.L.C.,
 its
General Partner

			
		 	By:	 	 /s/ J. Douglas Ramsey

		 	Name:	 	J. Douglas Ramsey, Ph.D.
		 	Title:	 	Vice President and Chief Financial Officer

  

					
	TGG PIPELINE, LTD.
		
	By:	 	VAUGHAN HOLDING COMPANY, L.L.C.,
		 	its General Partner
			
		 	By:	 	 /s/ J. Douglas Ramsey

		 	Name:	 	J. Douglas Ramsey, Ph.D.
		 	Title:	 	 Vice President and Chief Financial
 Officer

	
	 EXCO PRODUCTION COMPANY, LP
 (formerly
known as Winchester Production Company, Ltd.)

		
	By:	 	 VAUGHAN DE, LLC,
 Its General
Partner

			
		 	By:	 	 /s/ J. Douglas Ramsey

		 	Name:	 	J. Douglas Ramsey, Ph.D.
		 	Title:	 	Vice President and Chief Financial Officer

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 JPMORGAN CHASE BANK, N.A.,
 as a
Lender and as Administrative Agent,

		
	By:	 	 /s/ Kimberly A. Coil

	Name:	 	Kimberly A. Coil
	Title:	 	Senior Vice President

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 UBS LOAN FINANCE LLC
 as a
Lender

		
	By:	 	 /s/ Marie A. Haddad

	Name:	 	Marie A. Haddad
	Title:	 	 Associate Director
 Banking Products Services,
US

		
	By:	 	 /s/ Mary E. Evans

	Name:	 	Mary E. Evans
	Title:	 	 Associate Director
 Banking Products Services,
US

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 CREDIT SUISSE, CAYMAN ISLANDS BRANCH
 as a Lender

		
	 By:
	 	 /s/ Rianka Mohan

	 Name:
	 	Rianka Mohan
	 Title:
	 	Vice President
		
	 By:
	 	 /s/ Christopher Reo Day

	 Name:
	 	Christopher Reo Day
	 Title:
	 	Associate

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 LEHMAN BROTHERS COMMERCIAL BANK
 as a
Lender

		
	 By:
	 	 /s/ Gary Murray

	 Name:
	 	Gary Murray
	 Title:
	 	Chief Credit Officer

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 BNP PARIBAS
 as a
Lender

		
	 By:
	 	 /s/ Richard Hawthorne

	 Name:
	 	Richard Hawthorne
	 Title:
	 	 Director

		
	 By:
	 	 /s/ Edward Pak

	 Name:
	 	Edward Pak
	 Title:
	 	 Vice President

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 MORGAN STANLEY BANK
 as a
Lender

		
	By:	 	 /s/ Melissa James

	Name:	 	Melissa James
	Title:	 	Authorized Signatory

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 ROYAL BANK OF CANADA
 as a
Lender

		
	By:	 	 /s/ Don J. McKinnerney

	Name:	 	Don J. McKinnerney
	Title:	 	Authorized Signatory

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 THE ROYAL BANK OF SCOTLAND PLC
 as a
Lender

		
	By:	 	 /s/ Mark Lumpkin, Jr.

	Name:	 	Mark Lumpkin, Jr.
	Title:	 	Vice President

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 STERLING BANK
 as a
Lender

		
	By:	 	 /s/ Parul June

	Name:	 	Parul June
	Title:	 	Banking Officer

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

  

			
	UNION BANK, N.A.
	 (f/k/a UNION BANK OF CALIFORNIA, N.A.)
 as a Lender

		
	 By:
	 	 /s/ Douglas Gale

	 Name:
	 	Douglas Gale
	 Title:
	 	 Vice President

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 THE BANK OF NOVA SCOTIA
 as a Lender

		
	By:	 	 /s/ David G. Mills

	Name:	 	Davis G. Mills
	Title:	 	Managing Director

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 WACHOVIA BANK NATIONAL ASSOCIATION
 as
a Lender

		
	By:	 	 /s/ Paul Pritchett

	Name:	 	Paul Pritchett
	Title:	 	Vice President

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 WELLS FARGO BANK, N.A.
 as a Lender

		
	By:	 	 /s/ Tom K. Martin

	Name:	 	Tom K. Martin
	Title:	 	Vice President

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 WESTLB AG, NEW YORK BRANCH
 as a
Lender

		
	By:	 	 /s/ Horst Kleinecke

	Name:	 	Horst Kleinecke
	Title:	 	Executive Director
		
	By:	 	 /s/ Robert Vincent

	Name:	 	Robert Vincent
	Title:	 	Executive Director

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 BMO CAPITAL MARKETS FINANCING, INC.
 as a Lender

		
	By:	 	 /s/ Gumaro Tijerina

	Name:	 	Gumaro Tijerina
	Title:	 	Director

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 ALLIED IRISH BANKS, P.L.C.
 as a
Lender

		
	By:	 	 /s/ Mark Connelly

	Name:	 	Mark Connelly
	Title:	 	Senior Vice President
		
	By:	 	 /s/ Edward M. Fenk

	Name:	 	Edward Fenk
	Title:	 	Vice President

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 DEUTSCHE BANK TRUST COMPANY AMERICAS
 as a Lender

		
	By:	 	 /s/ Vincent D’Amore

	Name:	 	Vincent D’Amore
	Title:	 	Director
		
	By:	 	 /s/ Silvia L. Spear

	Name:	 	Silvia L. Spear
	Title:	 	Managing Director

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 CALYON NEW YORK BRANCH
 as a Lender

		
	By:	 	 /s/ Michael D. Willis

	Name:	 	Michael D. Willis
	Title:	 	Director
		
	By:	 	 /s/ Darrell Stanley

	Name:	 	Darrell Stanley
	Title:	 	Managing Director

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 U.S. BANK NATIONAL ASSOCIATION
 as a
Lender

		
	By:	 	 /s/ Daria Mahoney

	Name:	 	Daria Mahoney
	Title:	 	Vice President

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 COMERICA BANK
 as a
Lender

		
	By:	 	 /s/ Peter L. Sefzik

	Name:	 	Peter L. Sefzik
	Title:	 	Senior Vice President

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 FORTIS CAPITAL CORP.
 as a
Lender

		
	By:	 	 /s/ Scott Myatt

	Name:	 	Scott Myatt
	Title:	 	Director
		
	By:	 	 /s/ Darrell Holley

	Name:	 	Darrell Holley
	Title:	 	Managing Director

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 BANK OF AMERICA
 as a
Lender

		
	By:	 	 /s/ Jeffrey H. Rathkamp

	Name:	 	Jeffrey H. Rathkamp
	Title:	 	Managing Director

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 SUMITOMO MITSUI BANKING CORPORATION
 as a Lender

		
	By:	 	 /s/ Masakazu Hasegawa

	Name:	 	Masakazu Hasegawa
	Title:	 	General Manager

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 GOLDMAN SACHS CREDIT PARTNERS L.P.
 as
a Lender

		
	By:	 	 /s/ Andrew Caditz

	Name:	 	Andrew Caditz
	Title:	 	Authorized Signatory

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302 

			
	 BARCLAYS BANK PLC
 as a
Lender

		
	By:	 	 /s/ Maria Lund

	Name:	 	Maria Lund
	Title:	 	Vice President

  

 Fourth Amendment to Second Amended and Restated Credit Agreement – Signature Page 
 65283302Assignment of Marketing Services Agreement

 Exhibit 10.6 
 ASSIGNMENT OF MARKETING SERVICE AGREEMENT 
 This Assignment of that certain MARKETING SERVICE AGREEMENT of
an even date herewith, (the “Agreement”) is executed by and between Dynamic Response Group, Inc, a Florida corporation (“hereinafter the Assignee”) and KDAA, INC, a Nevada corporation, (hereinafter the “Assignor”).
Capitilized terms and definitions shall have the same meaning as set out in this agreement and the MARKETING SERVICE AGREEMENT (hereinafter collectively the “Contract”). 
 WHEREAS, the Assignor has entered into that certain Agreement as defined above; and 
 NOW THEREFORE, for and in consideration as indicated on “Exhibit A” hereof and incorporated herein and for such other consideration, the
receipt and sufficiency of which, are hereby acknowledged, the parties do hereby agree as follows: 
 1. For and in consideration of the
Agreement between Assignor and Assignee, of even date, herewith, the Assignor does hereby assign all of their right, title and interest in and to the Contract to the Assignee. 
 2. The Assignee does hereby certify that they have reviewed the Contract. Effective from and after the date of this Assignment, Assignee hereby assumes,
jointly and severally, all of the obligations and liabilities of Assignor under the Contract and agrees to be bound by all of the terms and conditions of the Contract. Assignee hereby affirms the Contract, acknowledgements, representations,
covenants, warranties, assumptions and indemnities of Assignor under the Contract. Assignee hereby confirms that all acknowledgements, representations, covenants, warranties, assumptions and indemnities made by Assignor in the Contract are also made
by Assignee to same extent as if Assignee had signed the Contract. 
 3. The Contract, as amended hereby, is hereby ratified and confirmed,
and all the terms, provisions and conditions of the Contract shall remain in full force and effect and shall be binding upon and inure to the benefit of the parties hereto. 
 4. This Assignment shall be binding on and inure to the benefit of the parties hereto and their respective heirs, legal representatives, successors and
assigns. 
 5. This Assignment may be executed in several counterparts, each of which shall constitute an original and all of which when
taken together shall constitute the Assignment. 

 IN WITNESS WHEREOF, the parties hereunto, intending to be bound, set their hands and seals effective the
day herein above written. 
  

					
		 	ASSIGNORS:
		
		 	DYNAMIC RESPONSE GROUP, INC
	October 17, 2007	 		 	
	Date Executed by Assignors	 		 	
		 	By:	 	 /s/ Melissa K. Rice

		 		 	Melissa K. Rice, CEO
		
		 	ASSIGNEE:
		
		 	KDAA, INC
	October 17, 2007	 		 	
	Date Executed by Assignees	 		 	
		 	By:	 	 /s/ Kevin Brinkworth

		 		 	Kevin Brinkworth, President

 MARKETING SERVICES AGREEMENT 
 This Marketing Services Agreement (this “Agreement”) is made and entered into
this 10th day of October, 2007 (the “Effective Date”) by and between KDAA, INC, a Nevada corporation (“KDAA,”),
and NMP, LLC, a Delaware limited liability company (“Client”). KDAA and Client are collectively referred to herein as the “Parties” and each of them may be individually referred to herein as a
“Party.” 
 WITNESSETH 
 WHEREAS, Client is a licensee of NASCAR and is authorized as a licensee to, among other things, exclusively market and sell The Official NASCAR Members Club (the “Club”); and 
 WHEREAS, KDAA has marketing services capabilities and retail distribution that Client desires to utilize in order to market and acquire members of
the Club (“Members”) on behalf of Client (the “Program”); 
 NOW, THEREFORE, in consideration of the
mutual covenants and agreements herein contained and other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the Parties agree as follows: 
  

	1.	Responsibilities of KDAA. During the Term (as defined in Section 12 hereto), KDAA will carry out, the following responsibilities in accordance with the terms and
conditions of this Agreement and generally applicable industry standards, in each case in a competent and professional manner. 

 a) Marketing and Distribution Rights: KDAA will adhere to a “Sales Plan” approved by Client (such approval not to be unreasonably withheld, conditioned or delayed) in writing (the “Sales
Plan”), to sell Club memberships (in accordance with the minimum sales and budget volume scenarios portions of which are set out in Exhibit A hereto) using KDAA’s distribution, various marketing partners and utilizing various
marketing channels and tactics, including, without limitation, an integrated Direct Response Television, Radio, Print and Internet Advertising Campaign, “Hot Transfers” from third party Direct Response Call Centers, and Outbound
Telemarketing. 
 b) Client hereby grants to KDAA the title of Preferred Marketing Partner to market Merchandise and/or other Client approved
products, services and continuity programs to those customers already in the Club and to other databases of prospects that are owned or controlled by the Client. While this designation of “Preferred Marketing Partner” means that the Client
will work with KDAA to create a series of merchandise offers to offer through KDAA’s marketing system, and that the Client will not engage another agency to create a marketing system to sell merchandise bundled with a memberships,
it does not mean that KDAA has an exclusive right to market products or services to those customers already in the Club, to other databases of prospects that are owned or controlled by the Client. Client will grant to KDAA the right of first
refusal to sell Follow-on Offers via their Integrated Marketing System to Members that KDAA has acquired. The way the Client and KDAA will split the proceeds from these “Follow-On” and other offers will vary based on the nature of the
offers and thus will be negotiated on a case by case basis between the Client and KDAA. 
 (c) Acquisition and Pricing: All Club
membership offer configurations (including, without limitation, with respect to premiums, price and payment schedule) will be developed by KDAA and will be subject to approval by Client, (such approval not to be unreasonably withheld, conditioned or
delayed). Client shall receive wholesale compensation per individual Club membership sold as defined in “Exhibit B” attached hereto. In the event of a material change in the configuration of the Club memberships offered by Client (i.e.,
the materials and benefits offered with a membership kit and/or under a Club membership), or a material change in the cost of Client to provide the current configuration of the Club memberships, the parties agree to adjust the wholesale compensation
payable to Client hereunder to reflect such actual change in cost to the Client. KDAA will have the right to provide third party quotes to Client to reduce said costs. In the event that such parties cannot reach a mutual agreement on such adjustment
after thirty (30) days of good faith negotiations, then Client may terminate this agreement upon written notice to KDAA. 

 (d) Production and Use: KDAA will have the right to produce, in coordination with Client,
Marketing Materials to include but not limited to a telemarketing scipt(s), a television advertisement’s) of approximately one half hour in length and any shorter versions (“Infomercials”) as deemed necessary by any means or media, a
print advertisement’s), an e-mail advertisement(s) and an Internet advertisement’s) or other marketing materials as determined by KDAAA for the use of marketing the Program as defined herin. Client shall have a right of final approval with
respect to such Infomercials and advertisements (such approval not to be unreasonably withheld, conditioned or delayed). In connection with the exercise of the Marketing and Distribution Rights, all use of NASCAR’s trade name, trademarks, the
names, likenesses (including, without limitation, photographs, illustrations, films and videotapes), endorsements and testimonials of all endorsers and other persons, and all other trademarks and/or trade names, artwork, footage, or promotional
materials that Client may own, control or have the right to use with respect to the Program, shall be subject to the prior written approval of Client (such approval not to be unreasonably withheld, conditioned or delayed) and all such rights,
intellectual property and materials shall, as between Client and KDAA, remain the property of Client. Additionally, all fees or royalties associated with any footage provided by Client is the responsibility of KDAA. Subject to the rights of NASCAR
AND CLIENT with respect to their respective trademarks, tradenames and other intellectual property, all Marketing Materials shall at all times remain the property of KDAA. Notwithstanding the foregoing, upon termination of this agreement, Client may
exercise the option to purchase any and all Marketing Materials created by KDAA for fair and reasonable production and creative value and reimburse KDAA all fees or royalties associated with the production of advertisement’s). 
 (e) Marketing Expenses: KDAA is responsible for funding all marketing and acquisition expenses related to the Program. Client will
have no obligation to pay for any marketing, acquisition or other expenses other than those listed in Exhibit B. 
 (f) Telemarketing and
Distributors: KDAA must obtain Client’s written approval of all marketing creative and telemarketing scripts prior to KDAA’s use thereof in connection with the Program (such approval not to be unreasonably withheld, conditioned or
delayed). Additionally, in connection with any outbound telemarketing campaigns or offline telephony up-sell marketing campaigns, if required, KDAA will contract with third-party telemarketing vendors to conduct outbound telemarketing pursuant to
the terms of this Agreement. 
 (g) Order Procurement and Transfer: KDAA will develop all the technical data and data capture
components (“Data Feed”) required to support KDAA’s direct sales of memberships in the Club and will coordinate with Client’s operational and technical outsourced service provider (“Client Service Provider”), so
as to enable the required level of operational and technical integration of the KDAA Data Feed with that of the technology platform of the Client Service Provider and to ensure that attrition data and other data relevant to determining compensation
under this Agreement is tracked and timely reported to Client. 
 (h) Specific Obligations: Without limiting the other terms of this
Section 1, to the extent applicable to any of the marketing channels to be utilized by KDAA, KDAA will create an “Integrated Marketing System”, defined as a comprehensive business process whereby KDAA will (i) conduct marketing
campaign strategies (ii) develop creative, (iii) prepare telemarketing scripts, (iv) conduct lead segmentation and processing, (v) set up vendors, (vi) implement and manage marketing campaigns (including, without limitation,
list selection, data processing, call-center management and direct-mail production), (vii) integrate applicable technology as reasonably required by Client and (viii) provide timely, accurate and ongoing reporting to Client with respect to
the marketing campaigns, including, without limitation, response rates and test versus control cells but excluding any internal financial data of KDAA relating to the Program (e.g., revenue flow, marketing expenditures, etc.). 
 (i) Modifications: For the purpose of international distribution, KDAA has the right to duplicate and modify the Infomercials and Client’s
Artwork, including the right to make insertions and deletions, dub foreign languages or voiceovers, or to use time compression or expansion techniques with approval in advance in writing from Client (such approval not to be unreasonably 

  

 2 

 
withheld, conditioned or delayed). KDAA shall have the right to translate, modify and otherwise revise and edit product packaging and printed, video or audio
materials included with the Products and to include such modified versions with the Products with approval in advance in waiting from Client (such approval not to be unreasonably withheld, conditioned or delayed). 
 (j) Licenses/Insurance: KDAA must maintain all necessary licenses, permits or approvals required to be maintained by it or any of its employees or
subcontractors permitting or authorizing them to perform their respective obligations under this Agreement in each and every jurisdiction having authority over KDAA and over the performance of such obligations. KDAA must maintain insurance coverage
for itself, covering against risks customarily insured against by businesses in its industry, including, without limitation, coverage for professional services liability, and in accordance with the current insurance requirements and amounts and
deductibles customary for a similar business. KDAA must provide to Client evidence of such insurance simultaneously with execution of this Agreement and upon reasonable request from time to time. 
 (k) Acquisition Minimums: In connection with the Program, and during the Term KDAA must sell at least the minimum amounts of Club memberships
(defined as the sum total of the number of memberships from the sale of Bundled Memberships and the number of members resulting from trial starts from the sale of Stand Alone Merchandise) as set forth in the first two columns of the table set forth
on Exhibit A hereto for the applicable months set forth therein (the “Annually Billed Members”). Failure to meet the minimum sales projections during any consecutive three (3) month period will represent a failure to
meet the minimum performance requirement; provided that Client’s sole remedies for KDAA’s failure to acquire the required Annually Billed Members will be to terminate this Agreement for cause or to terminate KDAA’s exclusivity
and/right of first refusal rights pursuant to Section 2(a) and/or 3 below upon fifteen (15) days’ prior written notice to KDAA. The election by Client to terminate this Agreement under this Section l(j) will not preclude Client or
KDAA from pursuing remedies for other breaches of this Agreement by the other Party. 
 (1) Tracking: KDAA will make all commercially
reasonable efforts to ensure that all marketing and acquisition offers and related activity under this Agreement will be identified for tracking purposes so as to “tag” all membership enrollments under this Agreement such that it will be
possible to trace which specific marketing and acquisition program, channel and/or offer attracted and acquired each subscribing Club member. The parties shall agree on reasonable tagging protocols. 
 (m) Marketing: Client agrees to supply KDAA with reasonable quantities of Membership Materials as outlined in Exhibit B so that KDAA may continue
to acquire members according to the acquisitions guidelines established herein. 
  

	2.	KDAA Exclusivity and use of Data: During the Term, subject to the terms hereof, Client agrees, to not engage another company to: 

 (b) Create an “Integrated Marketing System for selling Bundled Memberships, Stand Alone Merchandise Plus Up-sells, and Follow-On Offers”
(as defined herein) and 
 (c) Serve as Client’s “Approved Provider and Retailer Partner” for the sale of
“Bundled Memberships”, “Stand Alone Merchandise Plus Up-sells” (as defined herein), via 
 (d) Integrated Direct
Response Television, Radio, Print and Limited Internet Advertising Campaigns, “Hot Transfers” from third party Direct Response Call Centers, and Outbound Telemarketing, that KDAA creates and funds. 
 Client and KDAA also agree to work together to: 
 (a) Create a series of “Follow-On Offers” to sell to Members via KDAA’s “Integrated Marketing System for selling Bundled Memberships, Stand Alone Merchandise Plus Upsells, and Follow-On
Offers” 
  

 3 

 (b) Carefully manage the type and amount of offers made to the Members so as to optimize the
profit contribution and Lifetime Value of the Membership base that is derived from Membership sales, Follow-On Offers, other sales of products and services, and Renewal Fees. 
 Notwithstanding the foregoing, as between KDAA and Client, KDAA does not have exclusive rights over: 
 (a) the use of the marketing techniques of “off-line up-selling or cross selling”, “on-line up-selling or cross selling”,
“on-line sales,” “online co-registration,” and “outbound telemarketing,”, 
 (b) the Client using those
techniques, or, 
 (c) when other of Client’s distribution partners are using those techniques (examples would be a distribution
partner focused on creating an integrated marketing system for selling just memberships, or a distribution partner 
 focused on selling just
memberships and then making subsequent offers to buy-down the Cost Per Acquisition). 
 KDAA also understands that the Client may engage
another company to sell memberships together with that company’s products and or services (an example would be a cellular phone company, not an Agency or Agent, that sells a cell phone and a membership via their distribution channel), provided
that the engaged company meets all of the following qualifying conditions and capabilities at the outset of such engagement with Client: 
 (a) Such company will conduct the business activity and associated commerce transactions per the engagement with Client through the existence of its established and proven distribution channel and system consistent with customary
direct response industry standards; and 
 (b) Such company will invest the financial capital required to market to consumers and
acquire Members, or otherwise bears substantially all of the financial risk of the revenue and business objectives of such engagement 
  

	3.	Responsibilities of Client. During the Term (as defined below), Client will carry out the following responsibilities in accordance with the terms and conditions of
this Agreement and generally applicable industry standards, in each case in a competent and professional manner: 

 (a)
Leads: As it relates to the KDAA marketing activities defined in this agreement, Client will give (at no cost to KDAA) KDAA a minimum number of leads as defined in Exhibit C (the “Minimum Leads”), generated by, or on behalf of
the Client, via the ONMC At-Track Lead Program. With respect to leads in addition to the Minimum Leads, Client will have the right to distribute any and all such additional leads generated by, or on behalf of, Client via the ONMC At-Track Lead
Program, to marketing partners that afford the best economic value for Client. If Client chooses to distribute any such additional leads to KDAA, they will be offered to KDAA at cost. Client will notify KDAA in writing of its intent to sell any such
additional leads to a third party, and will provide KDAA with the proposed terms of sale for such leads. KDAA will then have one (1) week from the date KDAA receives such notice to determine if it wishes to purchase such leads on such proposed
terms. Unless KDAA advises Client of its intent to purchase such additional leads within such one (1) week period, KDAA will have been deemed to have declined its option to purchase such leads, and Client shall have the right to sell such leads
to such third party on such terms (and only on such terms). 
 Client has no obligation to conduct an At Track Lead Program and in the event
that Client opts not to conduct At Track Lead generation, then the schedule defined in Exhibit C may be altered by Client, with 90 days written notice to KDAA. It is further understood that in the event that Client opts not to conduct At Track Lead
generation, Client will use reasonable best efforts to replace the leads generated at track with comparable qualified leads. A “qualified” lead will be defined as a lead that is collected by, or on behalf of Client, that has not been
distributed to, or marketed by, another party, identified by source and includes at a minimum, a prospect name, address, city, state, zip code, phone number and has explicitly consented to be re-contacted via phone! It is understood by KDAA that At
Track Leads gathered by a Co-Opt partner may also be marketed to by the cJ-Opt partner and still be considered a qualified Lead. 
  

 4 

 (b) Accuracy: Client is responsible for
making accurate and reasonably complete information about the Club available to KDAA upon KDAA’s reasonable request. 
 (c) File Transfer: Client will provide, or cause the Client Service Provider to provide, KDAA with the necessary specifications and codes related
to data format needed by Client to permit KDAA to send files containing Member information to Client; provided that KDAA uses commercially reasonable efforts to cooperate with the Client Service Provider to ensure that Client obtains such
information. 
 (d) Fulfillment: Client is responsible for performing administration of and the services related to the Club as per
Exhibit B, in accordance with all relevant membership materials, and all costs associated therewith, except for those expenses incurred by KDAA in performing its services under this Agreement. 
 (e) Compliance: Client will operate the Club in compliance with its license from NASCAR, as amended, supplemented or otherwise modified from time
to time (the “NASCAR License”. Client also must maintain all necessary licenses, permits or approvals required to be maintained by it or any of its employees or subcontractors (other than KDAA) permitting or authorizing them to
perform their respective obligations under this Agreement in each and every jurisdiction having authority over Client and over the performance of such obligations. 
  

	4.	Definitions; 

 (a) Bundled Membership:
“Bundled Membership” shall be defined as the combination of an ONMC Membership and Merchandise and sold to a consumer for one price as one sales transaction. The payment terms of the sale may vary. 
 (b) Merchandise: “Merchandise” shall be defined as traditional hard and soft goods such as hats, bags, jackets, belts, die cast
cars, memorabilia, etc. as traditionally offered by such companies as Motorsports Authentics, Wincraft, CYRK, Ad Specialty Companies, etc., and all products and services that are developed by KDAA and offered in the sale of a Bundled Membership.
KDAA will also, on occasion submit additional requests to Client to bundle products or services that may not clearly meet this definition. Client may or may not grant approval to bundle certain merchandise with its memberships and may or may not
grant an exclusive to the newly proposed Bundled Membership. KDAA will provide all Merchandise to ‘bundle’ via the KDAA Plan and be responsible for all costs associated with the Merchandise. Client will be responsible for all costs related
to. the physical ONMC membership product, and all materials related to the servicing of an ONMC Membership including, but not limited to, all inventory of OMNC membership materials, fulfillment, shipping, and customer service (not related to billing
or order status). 
 (c) Stand Alone Merchandise Plus Up-sells: “Stand Alone Merchandise Plus Up-Sells” shall be defined as
Merchandise not bundled with a membership but immediately followed by a post transaction offer of a trial membership to the merchandise customer as an add-on to the merchandise sale. 
 (d) Integrated Marketing System: “Integrated Marketing System” shall be defined as defined as a comprehensive business process whereby
KDAA will (i) conduct marketing campaign strategies (ii) develop creative, (iii) prepare telemarketing scripts, (iv) conduct lead segmentation and processing, (v) set up vendors (vi) implement and manage marketing campaigns (including, without
limitation, list selection, data processing, call-center management and direct-mail production), (vii) integrate applicable technology as reasonably required by Client and (viii) provide timely, accurate and ongoing reporting to Client with respect
to the marketing campaigns, including, without limitation, response rates and test versus control cells but excluding any internal 
  

 5 

 
financial data of KDAA relating to the Program (e.g., revenue flow, marketing expenditures, etc.). KDAA will market all Bundled Memberships or Stand Alone
Merchandise Plus Up-Sells via this system that will incorporate multiple channels including any combination of Outbound Telemarketing (OTM) to identified leads and Inbound Telemarketing (ITM) and/or Website Marketing as a call to action from
(i) Direct Response Radio, (ii) DR Response TV, (iii) Direct Response E-Mail Campaigns and (iv) select, pre-approved (by Client) Internet marketing campaigns. KDAA will be responsible for all costs create and manage the
Integrated Marketing System and to market via its selected channels 
 (e) Follow-On Offers: “Follow-On Offers” shall be
defined as offers of Merchandise and/or other Client approved products, services and continuity programs to an ONMC Member that was acquired by KDAA and/or its affiliates via The Program as defined herein 
 (f) Data: In the event that marketing campaigns executed under this Agreement generate new opt-in email addresses, telephone numbers, or any
other information used to contact prospective customers, CLIENT has the sole right to contact such prospective customers pursuant to the terms of such customers’ opt-in agreements, including through programs approved by CLIENT and executed by
KDAA under this Agreement. In the event of termination of this Agreement, KDAA shall retain no rights to contact those opt-in customers, provided however that KDAA may contact those customers using information independent of the opt-in agreements
with CLIENT or its parents and not obtained in the course of the performance of this Agreement, but must in that case abide by all CAN-SPAM, Do Not Call/Do Not Solicit, and other applicable laws regarding such contact. The parties acknowledge that
KDAA may solicit customers who have already opted-in to be contacted by KDAA and/or its partners and that CLIENT shall, upon termination of this Agreement, have no rights to contact those customers per the opt-in agreements such customers have made
with KDAA or its partners but may make such contact independent of the opt-in agreement with KDAA or its partners by abiding by CAN-SPAM, Do Not Call/Dc! Not Solicit and other applicable laws regarding such contact. 
  

	4.	Compensation. KDAA will compensate Client for its services under this Agreement as set forth in “Exhibit B” attached hereto. 

 

	5.	Applicable Laws. Each Party agrees to perform its obligations under this Agreement in all material respects in accordance with all applicable foreign, federal, state,
and local laws, rules and regulations including, without limitation, laws governing insurance, telemarketing, unfair and deceptive acts, practices and privacy. These laws, rules and regulations include, without limitation, the laws, rules and
regulations of the Federal Communications Commission, Federal Trade Commission and any other state or federal governmental authority that regulates marketing activities and activities related thereto. 

  

	6.	Taxes. Each Party will be responsible for complying with and paying all taxes and duties properly assessed on it by governmental or regulatory authorities having
jurisdiction over such Party’s activities. 

  

	 7.
	 Confidentiality. During the course of performance of this Agreement by the Parties, each Party (the
“Disclosing Party”) may disclose to the other Party (the “Receiving Party”) certain trade secrets, training
material, telephone scripts, methodology, customer and supplier lists, processes, documentation, marketing and development plans, data, know-how, business strategies and other confidential and proprietary information not generally known to the
public (including, without limitation, the terms of this Agreement) owned or used by the Disclosing Party (all such materials, whether or not in writing or specifically designated as proprietary or confidential, collectively and individually
hereinafter referred to as “Confidential Information”): provided, however, that “Confidential Information” does not include any data or information that: 

 (a) Is now or subsequently becomes generally available to the public through no fault or breach of confidentiality obligations on the part of the
Receiving Party; 
  

 6 

 (b) The Receiving Party can demonstrate to have had rightfully in its possession prior to
disclosure to the Receiving Party by the Disclosing Party; provided that such prior possession is capable of being proven via written evidence alone that would be admissible in a court of law; 
 (c) Is independently developed by the Receiving Party without the use of any of the Disclosing Party’s Confidential Information; provided that
such independent development is capable of being proven via written evidence alone that would be admissible in a court of law; or 
 (d) The Receiving Parry rightfully obtains on a non-confidential basis from a third party who has the right to transfer or disclose it. 
 (e) The Receiving Party agrees that, for the purposes of this Agreement, all Confidential Information it receives from or on behalf of the Disclosing Party or its clients in connection with this Agreement
constitutes confidential, proprietary information. The Receiving Party agrees that the Confidential Information is the property of the Disclosing Party or its clients, as applicable, and that it will, and will cause its directors, officers,
managers, employees, agents and contractors to, hold Confidential Information in a confidential fashion and must use the same degree of care by instruction, agreement or otherwise, to maintain the confidentiality of the Confidential Information that
it uses to maintain the confidentiality of its own confidential information, but with at least a reasonable degree of care. If requested by the Disclosing Party in writing, all Confidential Information will be returned to the Disclosing Party, or,
if directed to do so by the Disclosing Parry, to its clients, at the end of” the Term or earlier upon the Disclosing Party’s request. The Receiving Party further agrees that it will use the Confidential Information only as required to
perform its obligations under this Agreement. The Receiving Party further agrees that it will limit the dissemination of the Confidential Information within its own organization to such individuals whose duties justify their need to know such
information, and then only provided that there’ is a clear understanding by such individuals of their need to maintain the confidential and proprietary nature of such information and to restrict its uses to the purposes specified herein.

 (f) In the event the Receiving Party becomes legally compelled (by oral questions, interrogatories, request for information or
documents, subpoena, civil investigative demand or similar process) to disclose any of the Confidential Information received by it or take any other action prohibited hereby, the Receiving Party [will provide the Disclosing Party with prompt written
notice so that the Disclosing Party may seek a protective order or other appropriate remedy and/or waive compliance with the provisions of this Agreement. In the event that such protective order or other remedy is not obtained, or that the
Disclosing Party waives compliance with the provisions of this Agreement, the Receiving Party will furnish only that portion of the Confidential Information or take only such action that is legally required and will exercise commercially reasonable
efforts to obtain reliable assurance that confidential treatment will be accorded any Confidential Information so furnished. 
 (g)
Breach of the confidentiality obligations set forth in this Section 6 may cause irreparable damage to the Disclosing Party and therefore, the Disclosing Party will have the right to equitable and injunctive relief, and to recover the amount of
damages (including, without limitation, reasonable attorneys’ fees and expenses) incurred in connection with such unauthorized use. 
 (h) KDAA acknowledges that, under Client’s license agreement with CLIENT, LLC and the
National Association for Stock Car Auto Racing, Inc. (“NASCAR”), Client has the right to use the data collected or received in connection with the Club (and all links between data and any associated algorithms) with certain other
NASCAR-related activities of Client, including, without limitation, all consumer and member data collected on the Club’s website and/or on the nascar.com website or in connection with any marketing or sales activities. KDAA will have no right
to such data (or links between such data and any associated algorithms) and may use the same only in connection with performing services for Client
hereunder. As between Client and KDAA, Client also will own all user data collected hereunder by KDAA or any of its marketing partners or other agents or subcontractors in connection with the Club and/or other NASCAR-related activities of Client
(excluding the KDAA opt-in agreement information pursuant to Section 3(e) above). KDAA acknowledges that the user data collected by Client (or by KDAA any other third party for Client) is subject to the terms and conditions of Client’s
privacy policy. Notwithstanding the foregoing, nothing in this Agreement will prevent KDAA from. 
  

 7 

 (i) using any user data at any time if such user data (i) was obtained lawfully through a
source other than Client, NASCAR, Turner Sports Interactive, Inc. or any of their respective employees or agents, (ii) was not obtained by or for KDAA in the course of performing services pursuant to this Agreement, and (iii) is used by
KDAA only in a lawful manner and without violation of any applicable privacy policies or the provisions of this Agreement. 
  

	8.	Representations and Warranties. 

 (a)
Each Party represents and warrants to the other Party that (i) it has the full right, power and authority to enter into this Agreement, (ii) this Agreement is valid and binding upon such Party and enforceable against such Party in
accordance with its terms, (iii) its execution, delivery and performance of this Agreement does not and will not violate or cause a breach of any other agreements or obligations to which it is a party or by which it is bound or conflict with
any applicable laws, rules or regulations or any order of any governmental authority and (iv) it has received all applicable regulatory authorizations or other approvals necessary to complete its obligations hereunder. 
 (b) Each Party represents and warrants that the goods and services to be provided under this Agreement will be provided in a reasonable and
professional manner, consistent with prevailing industry standards. 
 (c) Each Party represents and warrants to the other Party that
such Party has all necessary licenses, permits or approvals required to be maintained by it or any of its employees or subcontractors (except that Client makes no representation or warranty hereunder concerning KDAA) permitting or authorizing them
to perform their respective obligations under this Agreement in each and every jurisdiction having authority over such Party and over the performance of such obligations. 
 (d) Each Party represents and warrants that it has obtained, or will timely obtain, all necessary internal and external consents and authorizations from governmental authorities and private parties for such
Party’s execution, delivery and performance of this Agreement. 
  

	9.	Indemnification. 

 (a) Each Party (the
“Indemnifying Party”) must, at its expense, indemnify, defend and hold harmless the other Party and its parent company, subsidiaries and other affiliated entities and their respective officers, directors, members, partners,
employees, agents, successors and permitted assigns (together, the “Indemnified Party”) from against any and all third-party claims, lawsuits, and proceedings, as well as any losses, damages, penalties, fines, settlements,
reasonable costs (including, without limitation, all reasonable attorney’s fees and out-of-pocket expenses) (collectively referred to in this Section as the “Claims”), in connection with any such third-party claims, lawsuits or
proceedings arising from or in connection with: (i) the Indemnifying Party’s breach of its covenants, representations and warranties under this Agreement, (ii) the Indemnifying Party’s infringement of the trademark, copyright,
patent or other intellectual property, privacy or publicity right of a third party (except to the extent caused by the Indemnifying Party’s use (as authorized by the Indemnified Party) of any rights, materials or information provided by the
Indemnified Party), and/or (iii) the Indemnifying Party’s negligence or willful misconduct in connection with the performance, or lack of performance, of its obligations under this Agreement; provided that the Indemnifying Party is
not liable to the extent a Claim arises from the Indemnified Party’s negligence or willful misconduct. 
 (b) The conditions for
the indemnities set forth in paragraph (a) above are as follows: (i) the Indemnified Party must notify the Indemnifying Party in writing promptly upon notice of the Claims; (ii) the Indemnifying Party will be permitted, through
counsel mutually acceptable to the Indemnified Party and the Indemnifying Party, to answer and defend such Claims; and (iii) the Indemnified Party must provide the Indemnifying Party information and reasonable assistance at the Indemnifying
Party’s expense to help the Indemnifying Party to defend such Claims. 
  

 8 

 (c) The Indemnifying Party may, upon written notice of any Claims to the Indemnified Party,
undertake to conduct all proceedings or negotiations in connection therewith, assume the defense thereof, and if it so undertakes, it must also undertake all other required steps or proceedings to settle or defend any such Claims, including, without
limitation, the employment of counsel that must be reasonably satisfactory to the Indemnified Party, and payment of all expenses. The Indemnified Party will have the right to employ separate counsel and participate in the defense of any Claims at
its expense. The Indemnifying Party must reimburse the Indemnified Party upon demand for any payments made or loss suffered by it at any time after the date hereof, based upon the judgment of any court of competent jurisdiction or pursuant to a bona
fide compromise or settlement of Claims in respect to any damages related to any claim or action under this Section. The Indemnifying Party may not settle any Claim under this Section on the Indemnified Party’s behalf without first obtaining
the Indemnified Party’s written permission, which permission will not be unreasonably withheld, conditioned or delayed. In the event the Indemnifying Party and the Indemnified Party agree to settle a Claim, each Party agrees not to publicize
the settlement without first obtaining the other Party’s written permission, which permission will not be unreasonably withheld, conditioned or delayed. 
  

	10.	Limit to Liability. 

 (a) EXCEPT WITH
RESPECT TO THE INDEMNIFICATION OBLIGATIONS SET FORTH IN SECTION 9 ABOVE, IN NO EVENT WILL EITHER PARTY HERETO BE LIABLE TO THE OTHER PARTY FOR ANY LOST REVENUE, LOST PROFITS OR OTHER CONSEQUENTIAL, INCIDENTAL. EXEMPLARY OR PUNITIVE DAMAGES, EVEN IF
SUCH PARTY IS ADVISED IN ADVANCE OF THE POSSIBILITY OF SUCH DAMAGES. 
 (b) THESE LIMITATIONS OF LIABILITY ARE MADE KNOWINGLY,
INTENTIONALLY AND VOLUNTARILY. 
  

	11.	Trademarks; Proprietary Rights. 

 (a) Each Party acknowledges that the other Party, its affiliates and/or its suppliers, as
the case may be, owns or has a valid license to all rights, title, and interest in any work product, products or services created or delivered by them pursuant to this Agreement, including, without limitation, all worldwide copyrights, trade secrets
trademarks, confidential information, and proprietary and intellectual property rights subsisting therein. 
  

 9 

	12.	Term and Termination. 

 This Agreement will
continue in force from the Effective Date through December 31, 2009 (“Term”), unless it is terminated earlier by the mutual agreement of the Parties or by either Party pursuant to the terms of this Section. Client will grant
KDAA an additional one year of the term (through December 31, 2010) provided that KDAA meets or exceeds membership sales of 75,000 members through the Bundled Merchandise and Stand Alone Merchandise Offers in the calendar year 2009. 

(a) Either Party may terminate this Agreement if the other party: (i) is in breach of any material term or condition hereof, and such
breach continues for thirty (30) days after receipt by the breaching party of a written notice specifying the breach; (ii) made an assignment for the benefit of creditors; (iii) has had substantially all of its assets placed in the
control of a receiver or trustee for thirty (30) days or longer; (iv) has filed a voluntary petition for bankruptcy, or sought to effect a plan of liquidation or reorganization; or (v) has had bankruptcy proceedings brought against it
by a third party which are not contested and discharged within sixty (60) days. 
 (b) Upon the termination of this Agreement, all
rights and licenses granted by the each Party to the other Party hereunder will immediately cease, and such other Party must immediately return to such Party all of such Party’s property, including, without limitation, its Confidential
Information. Upon return of such materials, such other Party must provide such Party with a signed written statement certifying that it has returned all such property to such Party and complied with this Section. Notwithstanding anything to the
contrary in this Section, the Disclosing Party, at the Disclosing Party’s sole option, may at the termination of this Agreement or upon demand, in lieu of the Receiving Party returning all of the Confidential Information of the Disclosing Party
in its possession, require the Receiving Party to destroy all of the Confidential Information of the Disclosing Party in its possession and evidence such destruction by promptly providing the Disclosing Party a certificate signed by a duly
authorized officer of the Receiving Party certifying as to the destruction of such Confidential Information. 
 (c) The termination of
this Agreement will not limit either Party from pursuing other remedies available ‘to it, including, without limitation, injunctive relief. 
 (d) Notwithstanding the expiration or other termination of this Agreement for any reason, the covenants set out in this Section 12 and in Sections 9 through 11, 13, 17 through 21 and 24 through 26 will survive any such
expiration or termination. In addition, KDAA will have the right to continue billing all customers that were acquired by KDAA, prior to termination, as set out in Exhibit B.1. Furthermore, Client will have the right to purchase, at cost, from KDAA,
all remaining inventories of products relating to The Program, upon termination. In the event that Client chooses not to purchase all of the inventory of products relating to The Program, then KDAA will have the non-exclusive right to market The
Program for a reasonable amount of time, or until all Inventories purchased at or before the time of termination are sold. 
 (e)
Non-Circumvent: During the Term and for a period of twelve (12) months following the effective date of any expiration or termination of this Agreement by Client without cause or during the Term and for a period of six (6) months
following the effective date of termination of this Agreement by Client in the event that KDAA is terminated for failure to meet performance requirements and subject to the provisions set forth below. Client may not utilize any marketing partners
utilized by and under contract with KDAA at the beginning of this term (and those which KDAA made available during the initial test campaign which ran from May 15, 2007 thru July 16, 2007) and marketing partners that may be utilized by and
under contract during the term, provided that such marketing partners are made known to the Client, unless it receives KDAA’s prior written consent, at KDAA’s sole option. This Section 12(e) shall not apply: (i) to marketing
partners with which Client or NASCAR had a relationship prior to or as of the Effective Date, or to marketing partners with which Client had a relationship prior to such marketing partners being utilized and under contract with KDAA;. 
 (f) In the event of the expiration or other termination of this Agreement, KDAA must provide such transition services as are reasonably requested
by Client for a period of up to sixty (60) days following the date of expiration or other termination of this 

  

 10 

 
Agreement. KDAA may invoice Client for any such transition services at standard and reasonable rates. Upon request by KDAA following any expiration or other
termination of this Agreement, Client must deliver to KDAA any drawings, photos, ad copy, telemarketing scripts, or other materials which are created for use in connection with the Program under the terms and conditions of this Agreement and owned
by KDAA. Upon request by Client following any expiration or other termination of this Agreement, KDAA must deliver to Client any drawings, photos, ad copy, telemarketing scripts, or other materials which are created for use in connection with the
Program under the terms and conditions of this Agreement that include NASCAR trademarks. 
  

	13.	Records. During the Term and for a period of three (3) years after the end thereof, each Party will maintain access or archival retrieval access to all paper and
data records pertaining to this Agreement and the transactions contemplated hereby and thereby in the event KDAA reasonably requests copies of said data or records for the purpose of enforcing its rights under this Agreement or as otherwise required
by law or court order. Furthermore, notwithstanding anything to the contrary in this Agreement, each Party will have the right, upon reasonable prior written request, to inspect all records of the other Party relating to its obligations hereunder.
Unless otherwise agreed, any such inspection by such Party may occur only at the business offices of such other Party during normal business hours and may be conducted by a mutually acceptable third-party inspector. The costs of any such inspection
must be paid by the inspecting Party. 

  

	14.	Amendment. This Agreement may be amended, supplemented or otherwise modified only upon written agreement by the Parties. 

  

	15.	Further Assurances. Each Party must take such action (including, without limitation, the execution, acknowledgement and delivery of documents) as may be reasonably
requested by the other Party for the implementation or continuing performance of this Agreement. 

  

	16.	Assignment. Neither Party may assign or otherwise transfer this Agreement or its rights hereunder or delegate its responsibilities to any person or entity without the
other Party’s prior written consent; provided, however, that either Party may assign this Agreement without the consent of the other Patty to any affiliate of the assigning Party or in connection with a sale of all or
substantially all of its assets or a stock sale, merger or other corporate reorganization resulting in a change of control of such assigning Party. Any attempted assignment in violation of this Section will be null and void. Without limiting the
foregoing, this Agreement is binding upon and inures to the benefit of the Parties’ respective permitted successors and assigns. Further Client hereby agrees upon signing this Agreement that KDAA will have the right to assign all of KDAA’s
rights hereunder to Dynamic Response Group, Inc and\or its affiliates (“DRG”); provided, however KDAA, in any event, shall remain liable for its obligations hereunder. 

  

	17.	Severability. In the event that any provision (or any portion of a provision) of this Agreement is for any reason held by a court of competent jurisdiction to be
invalid, illegal or unenforceable for any reason, such invalidity, illegality or unenforceability will not affect any other provision hereof and this Agreement will be construed as if such invalid, illegal or unenforceable provision (or portion of a
provision) had never been contained herein in regards to that particular jurisdiction. 

  

	18.	Force Majeure. Neither Party will be liable or deemed to be in default for any delay or failure in performance under this Agreement resulting directly or indirectly
from acts of God, civil or military authority, war, riots, terrorism, civil disturbances, accidents, fire, earthquakes, floods, strikes, Jock-outs, labor disturbances, foreign or governmental order, power or telecommunications fluctuations or
outages or any other cause beyond the reasonable control of such Party. 

  

	19.	 Publicity: Use of Name. Each Party hereby agrees not to issue press releases that relate to this Agreement or the Program without the prior written
consent of the other Party. Neither Party may use the other Party’s name or the name of any of such Party’s affiliates in any sales publication or advertisement or make any public statement relating to such Party or any such affiliates
without obtaining such Party’s prior written consent (which consent shall not be unreasonably withheld, delayed or 

  

 11 

	 	 
conditioned). Without limiting the foregoing, CLIENT hereby agrees to work with KDAA and Dynamic Response Group, Inc. to craft a Press Release about their
relationship and to get it approved by NASCAR. KDAA and Dynamic Response Group, Inc acknowledge that they understand that NASCAR is particularly sensitive to companies that attempt to benefit by associating themselves with NASCAR via press releases
and therefore requires Client to submit all press releases to them for approval before they are released. Failure to adhere to NASCAR’s rules about press releases could do irreparable damage to Client’s relationship with NASCAR.

  

	20.	Non-Waiver. The failure of either Party either to insist upon the other Party’s strict performance of the provisions of this Agreement or to take advantage of its
rights hereunder, will not be construed as a waiver or relinquishment of any provision or right provided hereunder. 

  

	21.	Governing Law. This Agreement will be construed in all respects under the laws of the State of Florida, without regard to conflicts of laws principles.

  

	22.	Entire Agreement. The Parties agree that this Agreement is the complete and exclusive understanding between the Parties regarding the subject matter herein and no
change or modification may be made except in writing. 

  

	23.	Relationship. Nothing contained herein will be construed to create a partnership relationship between the Parties or, the relationship of employer and employee between
the Parties or between a Party and any of the other Party’s employees or agents. It is the express intent of the Parties that no Party is an employee of the other Party for any purpose, but is an independent contractor for all purposes and in
all situations. Each Party and its directors, officers, employees and agents may not represent that they are employees of the other Party, nor may they in any manner hold themselves out to be employees of the other Party. 

 

	24.	Arbitration. 

 (a) All disputes
between the Parties arising out of or relating to this Agreement or its performance will be resolved through arbitration under the commercial rules of the American Arbitration Association in Boston, Massachusetts, if the arbitration is being
conducted at the request of KDAA, or in Miami, Florida, if the arbitration is being conducted at the request of Client. 
 (b) The arbitration panel will consist of three (3) arbitrators. One
(1) arbitrator is to be appointed by KDAA and one (1) arbitrator is to be appointed by Client, and these two (2) arbitrators will select a third (3rd) arbitrator. If the two (2) arbitrators chosen by the Parties are unable to agree on a third (3rd) arbitrator, the choice will be left to the American Arbitration Association. 
 (c) The decision of the arbitrators
will be by majority vote and no appeal may be taken from such decision. The prevailing party in any such arbitration or any other legal action shall be awarded its attorneys fees and costs. 
  

	25.	Notices. All notices hereunder must be in writing (including, without limitation, notice by telecopy) and must be given to the relevant Party at its address or
facsimile number set forth below, or such other address or facsimile number as such Party may hereafter specify by notice to the other given by courier, by United States certified or registered mail, by telecopy or by other telecommunication device
capable of creating a written record of such notice and its receipt. Notices hereunder must be addressed: 

  

							
	Client:	  	NMP, LLC	  	KDAA:	  	KDAA, INC
		  	Edgewater Office Park	  		  	Atlantis on Brickell Suites
		  	401 Edgewater Park, Ste. 640	  		  	2025 Brickell Ave Ste 606
		  	Wakefield, MA 01880	  		  	Miami, FL 33129
		  	Attention: Patrick D. Brady	  		  	Attention: Kevin Brinkworth
		  	Facsimile: (781) 835-2001	  		  	Facsimile: (813) 433-2537

  

 12 

 Each such notice, request or other communication will be effective (i) if given by facsimile, when
such facsimile is transmitted to the facsimile number specified in this Section and a confirmation of such facsimile has been received by the sender, (ii) if given by mail, three (3) business days after such communication is deposited in
the mail, certified or registered with return receipt requested, addressed as aforesaid or (iii) if given by any other means, when delivered at the addresses specified in this Section. 
  

	26.	Counterparts. This Agreement may be executed in separate counterparts (each of which is an original and all of which will be deemed one and the same instrument) and
will be fully effective as of the date executed copies are exchanged between the Parties. Counterparts may be executed either in original or faxed form and the Parties adopt any signatures received by a receiving fax machine as original signatures
of the Parties; provided, however, that either Party providing its signature in such manner must promptly forward to the other Party, an original of the signed copy of this Agreement that was so faxed. 

 IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be duly executed as of the date first above written. 
  

			
	NMP, LLC
		
	By:	 	  

	Name:	 	
		 	Its CEO

  

			
	KDAA, INC.
		
	By:	 	 /s/ Kevin Brinkworth

	Name:	 	Kevin Brinkworth
	Title:	 	PRESIDENT

  

 13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]