Document:

Exhibit 4.1

 Exhibit 4.1 

 
  

 
 HARVEST NATURAL RESOURCES, INC.

 11.0% Senior Notes Due 2014 
  

 
 INDENTURE

 Dated as of October 11, 2012 
  

 
 U.S. BANK
NATIONAL ASSOCIATION, 
 as Trustee 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 Article 1 Definitions and Incorporation by Reference
	  	 	1	  
			
	 SECTION 1.01.
	  	Definitions	  	 	1	  
	 SECTION 1.02.
	  	Other Definitions.	  	 	14	  
	 SECTION 1.03.
	  	Incorporation by Reference of Trust Indenture Act	  	 	15	  
	 SECTION 1.04.
	  	Rules of Construction	  	 	15	  
		
	 Article 2 The Securities
	  	 	16	  
			
	 SECTION 2.01.
	  	Form and Dating	  	 	16	  
	 SECTION 2.02.
	  	Execution and Authentication	  	 	17	  
	 SECTION 2.03.
	  	Registrar and Paying Agent	  	 	17	  
	 SECTION 2.04.
	  	Paying Agent To Hold Money in Trust	  	 	17	  
	 SECTION 2.05.
	  	Securityholder Lists	  	 	18	  
	 SECTION 2.06.
	  	Transfer and Exchange	  	 	18	  
	 SECTION 2.07.
	  	Replacement Securities	  	 	18	  
	 SECTION 2.08.
	  	Outstanding Securities	  	 	18	  
	 SECTION 2.09.
	  	Temporary Securities	  	 	19	  
	 SECTION 2.10.
	  	Cancellation	  	 	19	  
	 SECTION 2.11.
	  	Defaulted Interest	  	 	19	  
	 SECTION 2.12.
	  	CUSIP Numbers, ISINs, etc.	  	 	20	  
	 SECTION 2.13.
	  	Treasury Securities	  	 	20	  
		
	 Article 3 Redemption
	  	 	20	  
			
	 SECTION 3.01.
	  	Notices to Trustee	  	 	20	  
	 SECTION 3.02.
	  	Selection of Securities to Be Redeemed	  	 	21	  
	 SECTION 3.03.
	  	Notice of Redemption	  	 	21	  
	 SECTION 3.04.
	  	Effect of Notice of Redemption	  	 	22	  
	 SECTION 3.05.
	  	Deposit of Redemption Price	  	 	22	  
	 SECTION 3.06.
	  	Securities Redeemed in Part	  	 	22	  
		
	 Article 4 Covenants
	  	 	22	  
			
	 SECTION 4.01.
	  	Payment of Securities	  	 	22	  
	 SECTION 4.02.
	  	Reports to Holders	  	 	22	  
	 SECTION 4.03.
	  	Limitation on Indebtedness	  	 	24	  
	 SECTION 4.04.
	  	Limitation on Investments and Restricted Payments	  	 	26	  
	 SECTION 4.05.
	  	Limitation on Restrictions on Distributions from Subsidiaries	  	 	29	  
	 SECTION 4.06.
	  	Limitation on Sales of Assets and Restricted Proceeds	  	 	29	  
	 SECTION 4.07.
	  	Limitation on Transactions with Affiliates	  	 	31	  
	 SECTION 4.08.
	  	Change of Control	  	 	32	  
	 SECTION 4.09.
	  	Limitation on Liens	  	 	33	  

  
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	 SECTION 4.10.
	  	Future Subsidiary Guarantors	  	 	34	  
	 SECTION 4.11.
	  	Compliance Certificate	  	 	35	  
	 SECTION 4.12.
	  	Changes in Nature of Business	  	 	35	  
	 SECTION 4.13.
	  	Use of Proceeds	  	 	35	  
	 SECTION 4.14.
	  	Amendments of Organization Documents	  	 	35	  
	 SECTION 4.15.
	  	Accounting Changes	  	 	36	  
	 SECTION 4.16.
	  	Prepayments, Etc. of Indebtedness	  	 	36	  
	 SECTION 4.17.
	  	Terrorism Sanctions Regulations	  	 	36	  
	 SECTION 4.18.
	  	Compliance with Laws	  	 	36	  
	 SECTION 4.19.
	  	Compliance with Environmental Laws	  	 	36	  
		
	 Article 5 Successor Company
	  	 	36	  
			
	 SECTION 5.01.
	  	When Company May Merge or Transfer Assets	  	 	36	  
		
	 Article 6 Defaults and Remedies
	  	 	38	  
			
	 SECTION 6.01.
	  	Events of Default	  	 	38	  
	 SECTION 6.02.
	  	Acceleration	  	 	40	  
	 SECTION 6.03.
	  	Other Remedies	  	 	41	  
	 SECTION 6.04.
	  	Waiver of Past Defaults	  	 	41	  
	 SECTION 6.05.
	  	Control by Majority	  	 	41	  
	 SECTION 6.06.
	  	Limitation on Suits	  	 	42	  
	 SECTION 6.07.
	  	Rights of Holders to Receive Payment	  	 	42	  
	 SECTION 6.08.
	  	Collection Suit by Trustee	  	 	42	  
	 SECTION 6.09.
	  	Trustee May File Proofs of Claim	  	 	42	  
	 SECTION 6.10.
	  	Priorities	  	 	43	  
	 SECTION 6.11.
	  	Undertaking for Costs	  	 	43	  
	 SECTION 6.12.
	  	Waiver of Stay or Extension Laws	  	 	43	  
		
	 Article 7 Trustee
	  	 	44	  
			
	 SECTION 7.01.
	  	Duties of Trustee	  	 	44	  
	 SECTION 7.02.
	  	Rights of Trustee	  	 	45	  
	 SECTION 7.03.
	  	Individual Rights of Trustee	  	 	47	  
	 SECTION 7.04.
	  	Trustee’s Disclaimer	  	 	47	  
	 SECTION 7.05.
	  	Notice of Defaults	  	 	47	  
	 SECTION 7.06.
	  	Reports by Trustee to Holders	  	 	47	  
	 SECTION 7.07.
	  	Compensation and Indemnity	  	 	47	  
	 SECTION 7.08.
	  	Replacement of Trustee	  	 	48	  
	 SECTION 7.09.
	  	Successor Trustee by Merger	  	 	49	  
	 SECTION 7.10.
	  	Eligibility; Disqualification	  	 	49	  
	 SECTION 7.11.
	  	Preferential Collection of Claims Against the Company	  	 	49	  
	 SECTION 7.12.
	  	Trustee’s Application for Instructions from the Company	  	 	50	  
		
	 Article 8 Amendments
	  	 	50	  
			
	 SECTION 8.01.
	  	Without Consent of Holders	  	 	50	  

  
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	SECTION 8.02.	  	With Consent of Holders	  	 	51	  
	SECTION 8.03.	  	Revocation and Effect of Consents and Waivers	  	 	52	  
	SECTION 8.04.	  	Notation on or Exchange of Securities	  	 	52	  
	SECTION 8.05.	  	Trustee To Sign Amendments	  	 	52	  
	SECTION 8.06.	  	Payment for Consent	  	 	53	  
		
	Article 9 Subsidiary Guarantees	  	 	53	  
			
	SECTION 9.01.	  	Guarantees	  	 	53	  
	SECTION 9.02.	  	Limitation on Liability	  	 	55	  
	SECTION 9.03.	  	Successors and Assigns	  	 	55	  
	SECTION 9.04.	  	No Waiver	  	 	55	  
	SECTION 9.05.	  	Modification	  	 	55	  
	SECTION 9.06.	  	Release of Subsidiary Guarantor	  	 	55	  
	SECTION 9.07.	  	Contribution	  	 	56	  
	SECTION 9.08.	  	Non-Impairment	  	 	56	  
		
	Article 10 Miscellaneous	  	 	56	  
			
	SECTION 10.01.	  	Notices	  	 	56	  
	SECTION 10.02.	  	Communication by Holders with Other Holders	  	 	57	  
	SECTION 10.03.	  	Certificate and Opinion as to Conditions Precedent	  	 	57	  
	SECTION 10.04.	  	Statements Required in Certificate or Opinion	  	 	57	  
	SECTION 10.05.	  	When Securities Disregarded	  	 	58	  
	SECTION 10.06.	  	Rules by Trustee, Paying Agent and Registrar	  	 	58	  
	SECTION 10.07.	  	Legal Holidays	  	 	58	  
	SECTION 10.08.	  	Governing Law; Submission to Jurisdiction	  	 	58	  
	SECTION 10.09.	  	No Recourse Against Others	  	 	58	  
	SECTION 10.10.	  	Successors	  	 	59	  
	SECTION 10.11.	  	Severability	  	 	59	  
	SECTION 10.12.	  	Multiple Originals	  	 	59	  
	SECTION 10.13.	  	Table of Contents; Headings	  	 	59	  
	SECTION 10.14.	  	WAIVER OF JURY TRIAL	  	 	59	  
	SECTION 10.15.	  	U.S.A. Patriot Act	  	 	59	  
	SECTION 10.16.	  	Force Majeure	  	 	59	  

 Rule 144A/Regulation S Appendix 
 Exhibit 1 to Appendix – Form of Security 
 Exhibit A – Form of Transferee Letter of
Representation 
 Exhibit B – Form of Supplemental Indenture to be Delivered by Subsequent Guarantors 

  
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 INDENTURE dated as of October 11, 2012, between HARVEST NATURAL RESOURCES, INC., a
Delaware corporation (the “Company”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as trustee (the “Trustee”). 
 Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the holders of the Securities issued under this Indenture: 

Article 1 

Definitions and Incorporation by Reference 
 SECTION 1.01. Definitions. 
 “Affiliate” of any specified Person
means any other Person, directly or indirectly, controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means
the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings
correlative to the foregoing. 
 “Affiliated Entity” means the Subsidiaries of the Company and any of their or the
Company’s respective Controlled Affiliates. 
 “Asset Sale” means (a) the sale, lease, conveyance or other
disposition of assets (including by way of a sale and leaseback) of the Company or any of its Subsidiaries in excess of (i) $500,000 or with a fair market value in excess of $500,000 or (ii) $1,000,000 when aggregated with the Net Proceeds
or fair market value of all other assets subject to any Asset Sales during the same fiscal year, in the case of clause (i) or clause (ii), other than Permitted Dispositions or (b) the issuance or sale of Equity Interests of any of the
Subsidiaries of the Company to any Person other than the Company, in the case of either clause (a) or (b) above, whether in a single transaction or a series of related transactions, provided, however, that the consummation of the
Petrodelta Transaction shall not constitute an Asset Sale. 
 “Attributable Indebtedness” means, on any date,
(a) in respect of any Capitalized Lease Obligation of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, (b) in respect of any Synthetic Lease
Obligation, the capitalized amount of the remaining lease or similar payments under the relevant lease or other applicable agreement or instrument that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP
if such lease or other agreement or instrument were accounted for as a Capitalized Lease Obligation and (c) all Synthetic Debt of such Person. 
 “beneficial owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular
“person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or
exercise of other securities, whether such right is currently exercisable or is 

  
 1 

 
exercisable only after the passage of time or upon the occurrence of a subsequent condition. The terms “beneficially owns,” “beneficially owned” and “beneficially
owning” will have a corresponding meaning. 
 “Blocked Person” means a Person who is (a) an OFAC Listed
Person or (b) a department, agency or instrumentality of, or is otherwise controlled by or acting on behalf of, directly or indirectly, (i) any OFAC Listed Person or (ii) the government of a country subject to comprehensive U.S.
economic sanctions administered by the Office of Foreign Assets Control, U.S. Department of Treasury (“OFAC”). 

“Board of Directors” means: 
 (a) with respect to a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on behalf of such board; 

(b) with respect to a partnership, the board of directors of the general partner of the partnership; 

(c) with respect to a limited liability company, the managers or managing member or members of such limited liability company (as
applicable) or any duly authorized committee of managers or managing members (as applicable) thereof; and 
 (d) with respect to
any other Person, the board of directors or duly authorized committee of such Person serving a similar function. 

“Business Day” means each day that is not a Saturday, Sunday or other day on which banking institutions in New York, New York
are authorized or required by law to close. 
 “Capital Stock” of any Person means any and all shares, interests
(including partnership interests and limited liability units), rights to purchase, warrants, options, participation or other equivalents of or interests in (however designated) equity of such Person, including any Preferred Stock, but excluding any
debt securities convertible into such equity. 
 “Capitalized Lease Obligations” means an obligation that is required
to be classified and accounted for as a capitalized lease for financial reporting purposes in accordance with GAAP, and the amount of Indebtedness represented by such obligation will be the capitalized amount of such obligation at the time any
determination thereof is to be made as determined in accordance with GAAP, and the Stated Maturity thereof will be the date of the last payment of rent or any other amount due under such lease prior to the first date such lease may be terminated
without penalty. 
 “Cash Equivalents” means (a) securities issued or directly and fully guaranteed or insured by
the United States Government or any agency or instrumentality of the United States (provided that the full faith and credit of the United States is pledged in support thereof), having maturities of not more than one year from the date of
acquisition; (b) marketable general obligations issued by any state of the United States of America or any political subdivision of any such state or any public instrumentality thereof maturing within one year from the date of acquisition and,
at the 

  
 2 

 
time of acquisition, having a credit rating of “A” or better from either Standard & Poor’s Ratings Services or Moody’s Investors Service, Inc.; (c) certificates
of deposit, time deposits, eurodollar time deposits, overnight bank deposits or bankers’ acceptances having maturities of not more than one year from the date of acquisition thereof issued by any commercial bank the long-term debt of which is
rated at the time of acquisition thereof at least “A” or the equivalent thereof by Standard & Poor’s Ratings Services, or “A” or the equivalent thereof by Moody’s Investors Service, Inc., and having combined
capital and surplus in excess of $500.0 million; (d) repurchase obligations with a term of not more than seven days for underlying securities of the types described in clauses (a), (b) and (c) entered into with any bank meeting the
qualifications specified in clause (c) above; (e) commercial paper rated at the time of acquisition thereof at least “A-2” or the equivalent thereof by Standard & Poor’s Ratings Services or “P-2” or the
equivalent thereof by Moody’s Investors Service, Inc., or carrying an equivalent rating by a nationally recognized rating agency, if both of the two named rating agencies cease publishing ratings of investments, and in any case maturing within
one year after the date of acquisition thereof; and (f) interests in any investment company or money market fund substantially all of the assets of which constitute instruments of the type specified in clauses (a) through (e) above.

 “CFC” means a Person that is a controlled foreign corporation under Section 957 of the Internal Revenue Code.

 “Change of Control” means: 
 (a) any “person” or “group” of related persons (as such terms are used in Section 13(d) of the Exchange Act) is or becomes a beneficial owner, directly or indirectly, of more than
35% of the total voting power of the Voting Stock of the Company (or its successor by merger, consolidation or purchase of all or substantially all of its properties or assets) (for the purposes of this clause, such person or group shall be deemed
to beneficially own any Voting Stock of the Company held by an entity, if such person or group beneficially owns, directly or indirectly, more than 35% of the voting power of the Voting Stock of such entity); 

(b) the first day on which a majority of the members of the Board of Directors of the Company are not Continuing Directors; 

(c) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one
or a series of related transactions, of all or substantially all of the properties or assets of the Company and its Subsidiaries taken as a whole to any “person” (as such term is used in Section 13(d) of the Exchange Act); or

 (d) the adoption or approval by the stockholders of the Company of a plan for the liquidation or dissolution of the Company.

 “Continuing Directors” means, as of any date of determination, any member of the Board of Directors of the Company
who: 
 (a) was a member of such Board of Directors on the Issue Date; or 

  
 3 

 (b) was nominated for election or elected to such Board of Directors with the approval of a
majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election. 

“Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement,
instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Credit Facilities” means, with respect to the Company or any of its Subsidiaries, one or more debt facilities, commercial
paper facilities or Debt Issuances providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to any lenders, other financiers or to special purpose entities formed to borrow from (or sell such
receivables to) any lenders or other financiers against such receivables), letters of credit, bankers’ acceptances, other borrowings or Debt Issuances, in each case, as amended, restated, modified, renewed, extended, refunded, replaced or
refinanced (in each case, without limitation as to amount), in whole or in part, from time to time, including through one or more Debt Issuances (and regardless of whether with the original administrative agent and lenders or another administrative
agent or agents or other lenders and regardless of whether provided under any credit agreement or other agreement or indenture). 
 “Debt Issuances” means, with respect to the Company or any Subsidiary of the Company, one or more issuances after the Issue Date of Indebtedness evidenced by notes, debentures, bonds or other
similar securities or instruments. 
 “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all
other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from
time to time in effect and affecting the rights of creditors generally. 
 “Default” means any event which is, or
after notice or passage of time or both would be, an Event of Default. 
 “Disposition” or “Dispose” means
the sale, transfer, license, lease or other disposition (including, without limitation, any sale and leaseback transaction) of any property by any Person (or the granting of any option or other right to do any of the foregoing) or the taking
(including, without limitation, by way of regulation or other commercially equivalent manner) or nationalization of any property of such Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or
accounts receivable or any rights and claims associated therewith. 
 “Domestic Subsidiary” means any Subsidiary of
the Company that was formed under the laws of the United States or any state of the United States or the District of Columbia or that Guarantees or otherwise provides direct credit support for any Indebtedness of the Company or any Subsidiary of the
Company (other than a Foreign Subsidiary). 

  
 4 

 “Environmental Laws” means any and all Federal, state, local, and foreign
statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the Release of any
Hazardous Materials into the environment. 
 “Environmental Permit” means any permit, approval, identification number,
license or other authorization required under any Environmental Law. 
 “Equity Interests” means, with respect to any
Person, all of the shares of capital stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or
profit interests in) such Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such
Person of such shares (or such other interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or non-voting, and whether or not such shares, warrants,
options, rights or other interests are outstanding on any date of determination. 
 “ERISA” means the Employee
Retirement Income Security Act of 1974, as amended. 
 “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 “Existing Indebtedness” means Indebtedness pursuant to the Company’s 8.25% Senior Convertible Notes
due March 1, 2013. 
 Existing Liens” means any Liens existing on the Issue Date securing any Indebtedness that does
not exceed $500,000 individually and as to which the Indebtedness outstanding does not exceed $10 million in the aggregate. 

“Foreign Subsidiary” means any Subsidiary of the Company other than a Domestic Subsidiary. 

“GAAP” means generally accepted accounting principles in the United States, as in effect from time to time (“U.S.
GAAP”). All ratios and computations based on U.S. GAAP contained in this Indenture will be computed in conformity with U.S. GAAP. At any time after the Issue Date and to the extent permitted by the SEC for U.S. reporting companies, the Company
may elect to apply International Financial Reporting Standards accounting principles that are accepted by the SEC for U.S. reporting companies (“IFRS”) in lieu of U.S. GAAP and, upon any such election, references herein to GAAP shall
thereafter be construed to mean IFRS (except as otherwise provided in this Indenture); provided that any such election, once made, shall be irrevocable; provided further, that any calculation or determination in this Indenture that
requires the application of GAAP for periods that include fiscal quarters ended prior to the Company’s election to apply IFRS shall remain as previously calculated or determined in accordance with U.S. GAAP. The Company shall give written
notice of any such election made in accordance with this definition to the Trustee and the holders of Securities within 15 days of such election. 

  
 5 

 “Governmental Authority” means the government of the United States or any other
nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or
administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 
 “Guarantee” means, as to any Person, any (a) any obligation, contingent or otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness or other
obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply
funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment
or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the
primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other obligation of the payment or performance thereof or to
protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other obligation is
assumed by such Person (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary
obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. The term
“Guarantee” used as a verb has a corresponding meaning. 
 “Hazardous Materials” means all explosive or
radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical
wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law. 
 “holder” means
a Person in whose name a Security is registered on the Registrar’s books. 
 “Incur” means issue, create, assume,
Guarantee, incur or otherwise become liable for; provided, however, that any Indebtedness or Capital Stock of a Person existing at the time such Person becomes a Subsidiary of the Company (whether by merger, consolidation, acquisition or
otherwise) will be deemed to be Incurred by such Subsidiary of the Company at the time it becomes a Subsidiary of the Company; and the terms “Incurred” and “Incurrence” have meanings correlative to the foregoing. 

“Indebtedness” means, as to any Person at a particular time, without duplication, all of the following, whether or not included
as indebtedness or liabilities in accordance with GAAP: 
 (a) all obligations of such Person for borrowed money and all
obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; 

  
 6 

 (b) the maximum amount of all direct or contingent obligations of such Person arising under
letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; 
 (c) net obligations of such Person under any Swap Contract; 
 (d) all obligations
of such Person to pay the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business and not past due for more than 60 days after the date on which such trade account was created);

 (e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person
(including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse; 

(f) all Attributable Indebtedness in respect of Capitalized Lease Obligations and Synthetic Lease Obligations of such Person and all
Synthetic Debt of such Person; 
 (g) all obligations of such Person to purchase, redeem, retire, defease or otherwise make any
payment in respect of any Equity Interest in such Person or any other Person or any warrant, right or option to acquire such Equity Interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary
liquidation preference plus accrued and unpaid dividends; 
 (h) all Guarantees of such Person in respect of any of the
foregoing; and 
 (i) obligations of such Person with respect to preferred stock (other than with respect to the Company’s
authorized Series B Preferred Stock that may become issuable under the Third Amended and Restated Rights Agreement dated August 23, 2007, between the Company and Wells Fargo Bank, N.A., as amended). 

For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a
joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person. The amount of any net obligation under
any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. 
 “Indenture”
means this Indenture as amended or supplemented from time to time. 
 “Internal Revenue Code” means the Internal
Revenue Code of 1986, as amended. 
 “Investment” means, as to any Person, any direct or indirect acquisition or
investment by such Person, whether by means of (a) the purchase or other acquisition of Equity Interests of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt

  
 7 

 
of, or purchase or other acquisition of any other debt or interest in, another Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of
another Person that constitute a business unit or all or a substantial part of the business of, such Person. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent
increases or decreases in the value of such Investment. 
 “Issue Date” means the first date on which Securities are
issued under this Indenture. 
 “Laws” means, collectively, all international, foreign, Federal, state and local
statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement,
interpretation or administration thereof, and all applicable administrative orders, directed duties, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law.

 “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or
other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement,
right of way or other encumbrance on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing). 
 “Material Adverse Effect” means (a) a material adverse effect upon the business, operations, properties, assets, condition (financial or otherwise) or prospects of the Company and its
Subsidiaries, considered as a single enterprise or (b) a material adverse effect on the ability of the Company to perform its obligations under this Indenture or of any holder of the Securities to enforce or collect any of the Obligations under
this Indenture. In determining whether any individual event could reasonably be expected to result in a Material Adverse Effect, notwithstanding that such event does not of itself have such effect, a Material Adverse Effect shall be deemed to have
occurred if the cumulative effect of such event and all other then existing events could reasonably be expected to result in a Material Adverse Effect. 
 “Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business thereof. 
 “Net Proceeds” means, with respect to any sale or other disposition of any assets, (a) cash received by the Company or any of its Subsidiaries from such sale or other disposition and
(b) promissory notes received by the Company or any of its Subsidiaries from such sale or other disposition upon the liquidation or conversion of such notes into cash, in each case after (y) provision for all Taxes resulting from such sale
or other disposition, and (z) payment of all brokerage commissions and other fees and expenses related to such sale or other disposition. 
 “Obligations” means all debts, liabilities, obligations, covenants and duties of, the Company or any Subsidiary Guarantor arising under this Indenture or otherwise with respect to the
Securities, in each case whether direct or indirect (including those acquired by assumption), 

  
 8 

 
absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against the Company or any Subsidiary
Guarantor or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. 

“OFAC Listed Person” means a Person whose name appears on the list of Specially Designated Nationals and Blocked Persons
published by OFAC. 
 “Officer” means the Chairman of the Board, the Chief Executive Officer, the President, the Chief
Financial Officer, any Vice President, the Treasurer or the Secretary of the Company. “Officer” of any Subsidiary Guarantor has a correlative meaning. 
 “Officers’ Certificate” means a certificate signed by two Officers or by an Officer and either an Assistant Treasurer or an Assistant Secretary of the Company. Each such certificate shall
comply with Section 314 of the TIA and shall include the statements provided in Section 10.04 hereof. 
 “Opinion
of Counsel” means a written opinion from legal counsel who is reasonably acceptable to the Trustee. The counsel may be an employee of or counsel to the Company or the Trustee. Each Opinion of Counsel shall comply with Section 314 of the
TIA and include the statements provided in Section 10.04 hereof. 
 “Organization Documents” means: (a) with
respect to any corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the
certificate or articles of formation or organization and operating agreement; and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of
formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization
and, if applicable, any certificate or articles of formation or organization of such entity. 
 “Permitted
Disposition” means any of the following: (a) dispositions of obsolete or worn-out property in the ordinary course of business; (b) dispositions of hydrocarbons in the ordinary course of business; (c) dispositions of equipment or
real property to the extent that it is exchanged for credit against the purchase price of similar replacement property or the proceeds of the disposition are promptly applied to the purchase price of the replacement property; (d) dispositions
to the Company or a wholly owned Subsidiary of the Company; (e) dispositions of drilling equipment and related assets in the ordinary course of business; (f) farmouts of a percentage of a Subsidiary’s working interest in any
properties owned by the Company or any of its Subsidiaries as of the Issue Date, which farmouts are entered into in the ordinary course of business, provided that the aggregate fair market value of such farmouts at any time is less than $100
million; (g) farmouts of a percentage of a Subsidiary’s working interest in any properties acquired by the Company or any of its Subsidiaries after the Issue Date; (h) dispositions permitted by Article 5; (i) dispositions
pursuant to sale-leaseback transactions of not more than 

  
 9 

 
$5 million in book value in a fiscal year; and (j) dispositions of oil and gas property or interests (in each case other than from farmouts) in exchange for assets other than cash or Cash
Equivalents in transactions entered into on an arm’s length basis and not exceeding $500 million in the aggregate (other than any direct or indirect disposition of properties or interests owned by Petrodelta). For the avoidance of doubt, no
Total Asset Sale shall constitute a Permitted Disposition. 
 “Person” means any individual, corporation, partnership,
joint venture, association, joint-stock company, trust, unincorporated organization, limited liability company, government or any agency or political subdivision thereof or any other entity. 

“Petrodelta” means Petrodelta, S.A., a Sociedad Anomina mixed company organized under the Laws of the Bolivian Republic of
Venezuela. 
 “Petrodelta Transaction” means (a) the transaction contemplated by the PT Pertamina Agreement and
(b) any other transaction (whether entailing a merger, consolidation, asset sale or otherwise) in which the Company or any of its Subsidiaries sells or exchanges, directly or indirectly, the Company’s interest in Petrodelta, S.A.

 “Petroleum Property” means any interest of a Subsidiary in oil and gas reserves and assets consisting primarily of
gas gathering, processing and storage facilities and transmission pipelines. 
 “Preferred Stock,” as applied to the
Capital Stock of any Person, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such
Person, over shares of Capital Stock of any other class of such Person. 
 “principal” of a Security means the
principal of the Security plus the premium, if any, payable on the Security which is due or overdue or is to become due at the relevant time. 
 “Project Financing Indebtedness” means Indebtedness incurred to finance oil and gas related projects by a special purpose Subsidiary of the Company to finance the acquisition, construction or
development of a specific tangible property or asset (the “Specified Property”) and with respect to which the obligation to repay such obligation is recourse (a) only to the Specified Property, and not to the general credit of, or any
other asset of, such Subsidiary or the Company or any of its other Subsidiaries or (b) only to contract revenues under a contract for the sale of products or services manufactured at or derived from the Specified Property by such Subsidiary and
entered into in the ordinary course of business, and not to the general credit of, or any other asset of, such Subsidiary or the Company or any of its other Subsidiaries. 
 “PT Pertamina Agreement” means (a) that certain share purchase agreement by and among HNR Energia B.V., as seller, the Company, as parent, and PT Pertamina (Persero), as buyer, dated
June 21, 2012 as executed and as it may be amended, supplemented or otherwise modified from time to time and (b) any other agreement with PT Pertamina (Persero) or one of its Affiliates whereby such parties acquire all or substantially all
of the Company’s assets or more than 35% of the Capital Stock or total voting power of the Voting Stock of the Company (or its successor by merger, consolidation or purchase of all or substantially all of its properties or assets). 

  
 10 

 “Release” means any spilling, leaking, pumping, pouring, emitting, emptying,
discharging, injecting, escaping, leaching, dumping or disposing into the environment of any Hazardous Materials. 

“Responsible Officer” means the chief executive officer, president, chief financial officer or general counsel of the Company
or a Subsidiary Guarantor, as applicable. Any document delivered hereunder that is signed by a Responsible Officer of the Company or a Subsidiary Guarantor, as applicable, shall be conclusively presumed to have been authorized by all necessary
corporate, partnership, limited liability company and/or other action on the part of the Company or such Subsidiary Guarantor, as applicable, and such Responsible Officer shall be conclusively presumed to have acted on behalf of the Company or such
Subsidiary Guarantor, as applicable. 
 “Restricted Payment” means any dividend or other distribution (whether in
cash, securities or other property) with respect to any capital stock or other Equity Interest of any Person or any of its Subsidiaries, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit,
on account of the purchase, redemption, retirement, defeasance, acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on account of any return of capital to any Person’s stockholders, partners or
members (or the equivalent of any thereof), or any option, warrant or other right to acquire any such dividend or other distribution or payment. 
 “Restricted Proceeds” means (a) any Net Proceeds from an Asset Sale; (b) 50% of any dividends, distributions or any other cash payments or proceeds received from Petrodelta; and
(c) any payments made to the Company or any of its Subsidiaries, in accordance with the terms of the PT Pertamina Agreement, of the deposit paid by PT Pertamina (Persero) to an escrow agent pursuant to the terms of the PT Pertamina Agreement.

 “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.

 “SEC” means the United States Securities and Exchange Commission. 

“Securities” means the Company’s notes issued under this Indenture. 

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

“Significant Subsidiary” means any Subsidiary of the Company that would be a “Significant Subsidiary” of the Company
within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC. 
 “Stated Maturity” means, with respect
to any security, the date specified in such security as the fixed date on which the payment of outstanding principal of such security is due and payable, including pursuant to any mandatory redemption provision, but shall not include any contingent
obligations to repay, redeem or repurchase any such principal prior to the date originally scheduled for the payment thereof. 

  
 11 

 “Subordinated Debt” means Indebtedness of the Company or a Subsidiary Guarantor
that is contractually subordinated in right of payment (by its terms or the terms of any document or instrument relating thereto) to the Securities or the Subsidiary Guarantee of such Subsidiary Guarantor, as applicable. 

“Subsidiary” of any Person means (a) any corporation, association or other business entity (other than a partnership,
joint venture, limited liability company or similar entity) of which more than 50% of the total ordinary voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors,
managers or trustees thereof (or persons performing similar functions) or (b) any partnership, joint venture limited liability company or similar entity of which more than 50% of the capital accounts, distribution rights, total equity and
voting interests or general or limited partnership interests, as applicable, is, in the case of clauses (a) and (b), at the time owned or controlled, directly or indirectly, by (x) such Person, (y) such Person and one or more
Subsidiaries of such Person or (z) one or more Subsidiaries of such Person. Unless otherwise specified herein, each reference to a Subsidiary will refer to a Subsidiary of the Company. 

“Subsidiary Guarantee” means, individually, any Guarantee of payment of the Securities by a Subsidiary Guarantor pursuant to
the terms of this Indenture and any supplemental indenture thereto, and, collectively, all such Guarantees. 
 “Subsidiary
Guarantor” means each Subsidiary of the Company that has become obligated under a Subsidiary Guarantee, in accordance with the terms of the Guarantee provisions of this Indenture, but only for so long as such Subsidiary remains so obligated
pursuant to the terms of this Indenture. 
 “Swap Contract” means (a) any and all rate swap transactions, basis
swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward
bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency
options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement,
and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc.,
any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master
Agreement. 
 “Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account
the effect of any legally enforceable netting agreement relating to such Swap 

  
 12 

 
Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and
(b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any
recognized dealer in such Swap Contracts. 
 “Synthetic Debt” means, with respect to any Person as of any date of
determination thereof, all obligations of such Person in respect of transactions entered into by such Person that are intended to function primarily as a borrowing of funds (including any minority interest transactions that function primarily as a
borrowing) but are not otherwise included in the definition of “Indebtedness” or as a liability on the consolidated balance sheet of such Person and its Subsidiaries in accordance with GAAP. 

“Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet
or tax retention lease, or (b) an agreement for the use or possession of property (including sale and leaseback transactions), in each case, creating obligations that do not appear on the balance sheet of such Person but which, upon the
application of any Debtor Relief Laws to such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). 
 “Total Asset Sale” means (a) any Petrodelta Transaction or (b) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or
consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any “person” (as such term is used in Section 13(d) of the Exchange Act).

 “Trust Officer” means, when used with respect to the Trustee, any officer within the corporate trust department of
the Trustee, including any vice president, assistant vice president, assistant secretary, assistant treasurer, trust officer or other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time
shall be such officer or assistant officer, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of, and familiarity with, the particular subject and who shall have been assigned by the Trustee to
administer its corporate trust matters and who shall have direct responsibility for the administration of this Indenture. 

“Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from time to time. 

“U.S. Government Obligations” means securities that are (a) direct obligations of the United States of America for the
timely payment of which its full faith and credit is pledged or (b) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the timely payment of which is unconditionally
guaranteed as a full faith and credit obligation of the United States of America, which, in either case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depositary receipt issued by a bank (as defined in
Section 3(a)(2) of the Securities Act), as custodian with respect to any such U.S. Government Obligations or a specific payment of principal of or interest on any such U.S. Government Obligations held by such custodian for the account of the
holder 

  
 13 

 
of such depositary receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depositary
receipt from any amount received by the custodian in respect of the U.S. Government Obligations or the specific payment of principal of or interest on the U.S. Government Obligations evidenced by such depositary receipt. 

“Voting Stock” of any specified Person as of any date means the Capital Stock of such Person that is at the time entitled
(without regard to the occurrence of any contingency and after giving effect to any voting agreement or stockholders’ agreement that effectively transfers voting power) to vote in the election of the Board of Directors of such Person.

 “Weighted Average Life to Maturity” means, when applied to any Indebtedness at any date, the number of years
obtained by dividing: 
 (1) the sum of the products obtained by multiplying (a) the amount of each then remaining
installment, sinking fund, serial maturity or other required payments of principal, including payment at final maturity, in respect of the Indebtedness, by (b) the number of years (calculated to the nearest one-twelfth) that will elapse between
such date and the making of such payment; by 
 (2) the then outstanding principal amount of such Indebtedness. 

SECTION 1.02. Other Definitions. 
  

			
	 Term
	  	Defined in
Section
	 “Appendix”
	  	2.01
	 “Bankruptcy Law”
	  	6.01
	 “bankruptcy provisions”
	  	6.01(7)
	 “Change of Control Offer”
	  	4.08(b)
	 “Change of Control Payment”
	  	4.08(b)(1)
	 “Change of Control Payment Date”
	  	4.08(b)(2)
	 “Company”
	  	Preamble
	 “cross-acceleration provision”
	  	6.01(6)(B)
	 “Custodian”
	  	6.01
	 “Event of Default”
	  	6.01
	 “Guaranteed Obligations”
	  	9.01(a)
	 “judgment default provision”
	  	6.01(9)
	 “Notice of Default”
	  	6.01
	 “Paying Agent”
	  	2.03

  
 14 

			
	 Term
	  	Defined in
Section
	 “payment default”
	  	6.01(6)(A)
	 “Restricted Proceeds Offer”
	  	4.06(c)
	 “Restricted Proceeds Offer Price”
	  	4.06(c)
	 “Restricted Proceeds Payment”
	  	4.06(d)(1)
	 “Restricted Proceeds Payment Date”
	  	4.06(d)(2)
	 “Restricted Proceeds Threshold Date”
	  	4.06(c)
	 “Registrar”
	  	2.03
	 “Successor Company”
	  	5.01(a)(1)
	 “TIA”
	  	1.03
	 “Trustee”
	  	Preamble

 SECTION 1.03. Incorporation by Reference of Trust Indenture Act. Whenever this Indenture refers to
a provision of the Trust Indenture Act of 1939, as amended (the “TIA”), such provision is incorporated by reference in and made a part of this Indenture. The following TIA terms have the following meanings: 

“Commission” means the SEC; 
 “indenture securities” means the Securities and the Subsidiary Guarantees; 
 “indenture security holder” means a Securityholder; 
 “indenture to
be qualified” means this Indenture; 
 “indenture trustee” or “institutional trustee” means the
Trustee; and 
 “obligor” on the indenture securities means the Company, each Subsidiary Guarantor and any other
obligor on the indenture securities. 
 All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA
reference to another statute or defined by SEC rule have the meanings assigned to them by such definitions. 
 SECTION 1.04.
Rules of Construction. Unless the context otherwise requires: 
 (1) a term has the meaning assigned to
it; 
 (2) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

 (3) “or” is not exclusive; 

  
 15 

 (4) “including” means including without limitation; 

(5) words in the singular include the plural and words in the plural include the singular; 

(6) “will” shall be interpreted to express a command; 

(7) provisions apply to successive events and transactions; 

(8) references to sections of, or rules under, the Securities Act shall be deemed to include substitute, replacement or
successor sections or rules adopted by the SEC from time to time; 
 (9) unless the context otherwise requires,
any reference to an “Article”, “Section” or “clause” refers to an Article, Section or clause, as the case may be, of this Indenture; 

(10) unsecured Indebtedness shall not be deemed to be subordinate or junior to secured Indebtedness merely by virtue of
its nature as unsecured Indebtedness; 
 (11) secured Indebtedness shall not be deemed to be subordinate or
junior to any other secured Indebtedness merely because it has a junior priority with respect to the same collateral; 
 (12) the principal amount of any noninterest bearing or other discount security at any date shall be the principal amount thereof that would be shown on a balance sheet of the issuer dated such date
prepared in accordance with GAAP; 
 (13) the principal amount of any Preferred Stock shall be (A) the
maximum liquidation value of such Preferred Stock or (B) the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater; and 

(14) all references to the date the Securities were originally issued shall refer to the Issue Date. 

Article 2 

The Securities 
 SECTION 2.01. Form and Dating. Provisions relating to the Securities are set forth in the Rule 144A/Regulation S Appendix attached hereto (the “Appendix”), which is hereby
incorporated in, and expressly made part of, this Indenture. The Securities and the Trustee’s certificate of authentication shall be substantially in the form of Exhibit 1 to the Appendix, which is hereby incorporated in, and expressly made a
part of, this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule, agreements to which the Company is subject, if any, or usage (provided that any such notation, legend or endorsement is
in a form acceptable to the Company). Each Security shall be dated the date of its authentication. The terms of the Securities set forth in the Appendix and Exhibit 1 are part of the terms of this Indenture. 

  
 16 

 SECTION 2.02. Execution and Authentication. Two Officers shall sign the Securities
for the Company by manual or facsimile signature. 
 If an Officer whose signature is on a Security no longer holds that office
at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. 
 A Security shall not be valid
until an authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. 

The Trustee may appoint an authenticating agent reasonably acceptable to the Company to authenticate the Securities. Unless limited by
the terms of such appointment, an authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has
the same rights as any Registrar, Paying Agent or agent for service of notices and demands. 
 SECTION 2.03. Registrar and
Paying Agent. The Company shall maintain an office or agency where Securities may be presented for registration of transfer or for exchange (the “Registrar”) and an office or agency where Securities may be presented for payment (the
“Paying Agent”). The Registrar shall keep a register of the Securities and of their transfer and exchange. The Company may have one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any
co-registrar. The term “Paying Agent” includes any additional paying agent. 
 The Company shall enter into an
appropriate agency agreement with any Registrar, Paying Agent or co-registrar not a party to this Indenture, which shall incorporate the terms of the TIA. The agreement shall implement the provisions of this Indenture that relate to such agent. The
Company shall notify the Trustee of the name and address of any such agent. If the Company fails to maintain a Registrar or Paying Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to
Section 7.07. The Company or any Subsidiary of the Company incorporated or organized within the United States of America may act as Paying Agent, Registrar, co-registrar or transfer agent. 

The Company initially appoints the Trustee as Registrar and Paying Agent in connection with the Securities. 

SECTION 2.04. Paying Agent To Hold Money in Trust. On or prior to each due date of the principal and interest on any Security, the
Company shall deposit with the Paying Agent a sum sufficient to pay such principal and interest when so becoming due. The Company shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall hold in trust
for the benefit of Securityholders or the Trustee all money held by the Paying Agent for the payment of principal of or interest on the Securities and shall notify the Trustee of any default by the Company in making any such payment. If the Company
or a Subsidiary of the Company acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold 

  
 17 

 
it as a separate trust fund. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed by the Paying Agent. Upon
complying with this Section, the Paying Agent shall have no further liability for the money delivered to the Trustee. 
 SECTION
2.05. Securityholder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Securityholders. If the Trustee is not the Registrar, the Company
shall furnish to the Trustee, in writing at least five Business Days before each interest payment date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of
the names and addresses of Securityholders. 
 SECTION 2.06. Transfer and Exchange. The Securities shall be issued in
registered form and shall be transferable only upon the surrender of a Security for registration of transfer. When a Security is presented to the Registrar or a co-registrar with a request to register a transfer, the Registrar shall register the
transfer as requested if the requirements of this Indenture and Section 8-401(1) of the Uniform Commercial Code are met. When Securities are presented to the Registrar or a co-registrar with a request to exchange them for an equal principal
amount of Securities of other denominations, the Registrar shall make the exchange as requested if the same requirements are met. The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on
transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among depositary participants or beneficial owners of interests in any Global Notes) other
than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance
as to form with the express requirements hereof. Neither the Trustee nor any Agent shall have any responsibility for any actions taken or not taken by the depositary. 
 SECTION 2.07. Replacement Securities. If a mutilated Security is surrendered to the Registrar or if the holder of a Security claims that the Security has been lost, destroyed or wrongfully taken,
the Company shall issue and the Trustee shall authenticate a replacement Security if the requirements of Section 8-405 of the Uniform Commercial Code are met and the holder satisfies any other reasonable requirements of the Trustee. Such holder
shall furnish an indemnity bond sufficient in the judgment of the Company and the Trustee to protect the Company, the Trustee, the Paying Agent, the Registrar and any co-registrar from any loss which any of them may suffer if a Security is replaced.
The Company and the Trustee may charge the holder for their expenses in replacing a Security. 
 Every replacement Security is
an additional obligation of the Company. 
 SECTION 2.08. Outstanding Securities. Securities outstanding at any time are
all Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation and those described in this Section as not outstanding. A Security does not cease to be outstanding because the Company or an
Affiliate of the Company holds the Security. 

  
 18 

 If a Security is replaced pursuant to Section 2.07, it ceases to be outstanding unless
the Trustee and the Company receive proof satisfactory to them that the replaced Security is held by a protected purchaser (as defined in Section 8-303 of the Uniform Commercial Code). 

If the Paying Agent segregates and holds in trust, in accordance with this Indenture, on a redemption date or maturity date money
sufficient to pay all principal and interest payable on that date with respect to the Securities (or portions thereof) to be redeemed or maturing, as the case may be, then on and after that date such Securities (or portions thereof) cease to be
outstanding and interest on them ceases to accrue. 
 SECTION 2.09. Temporary Securities. Until definitive Securities are
ready for delivery, the Company may prepare and execute and the Trustee shall authenticate temporary Securities. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Company considers
appropriate for temporary Securities with the concurrence of the Trustee. Without unreasonable delay, the Company shall prepare and the Trustee shall authenticate definitive Securities and deliver them in exchange for temporary Securities.

 SECTION 2.10. Cancellation. The Company at any time may deliver Securities to the Trustee for cancellation. The
Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel and dispose of (subject to the record retention requirements
of the Exchange Act) all Securities surrendered for registration of transfer, exchange, payment or cancellation in accordance with its customary procedures. The Company may not issue new Securities to replace Securities they have redeemed, paid or
delivered to the Trustee for cancellation. 
 SECTION 2.11. Defaulted Interest. The Company will pay interest on overdue
principal of the Securities from time to time on demand at the rate of interest then borne by the Securities pursuant to the terms thereof. The Company shall, to the extent lawful, pay interest on overdue installments of interest (without regard to
any applicable grace periods) from time to time on demand at the rate of interest then borne by the Securities pursuant to the terms thereof. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months, and, in the
case of a partial month, the actual number of days elapsed. 
 If the Company defaults in a payment of interest on the
Securities, it shall pay the defaulted interest, plus (to the extent lawful) any interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, which special record date shall be the fifteenth day
next preceding the date fixed by the Company for the payment of defaulted interest or the next succeeding Business Day if such date is not a Business Day. The Company shall notify the Trustee in writing of the amount of defaulted interest proposed
to be paid on each Security and the date of the proposed payment (a “Default Interest Payment Date”), and at the same time the Company shall deposit with the Trustee an amount of money equal to the aggregate amount proposed to be paid in
respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit on or prior to the date of the proposed payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such
defaulted interest as provided in this Section; provided, however, that in no event shall the 

  
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Company deposit monies proposed to be paid in respect of defaulted interest later than 11:00 a.m. New York City time of the proposed Default Interest Payment Date. At least 15 days before the
subsequent special record date, the Company shall mail (or cause to be mailed) to each Holder, as of a recent date selected by the Company, with a copy to the Trustee, a notice that states the subsequent special record date, the payment date and the
amount of defaulted interest, and interest payable on such defaulted interest, if any, to be paid. Notwithstanding the foregoing, (a) any interest which is paid prior to the expiration of the 30-day period set forth in Section 6.1(1) shall
be paid to Holders as of the regular record date for the Interest Payment Date for which interest has not been paid, and (b) the Company may make payment of any defaulted interest in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange. 
 SECTION 2.12. CUSIP Numbers, ISINs, etc. The Company in issuing the Securities may use “CUSIP” numbers, ISINs and “Common Code” numbers (in each case if then generally in use)
and, if so, the Trustee shall use “CUSIP” numbers, ISINs and “Common Code” numbers in notices of redemption as a convenience to holders; provided, however, that any such notice may state that no representation is made as
to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Securities, and any such redemption shall
not be affected by any defect in or omission of such numbers. The Company shall promptly advise the Trustee in writing of any change in any “CUSIP” numbers, ISINs or “Common Code” numbers applicable to the Securities. 

SECTION 2.13. Treasury Securities. In determining whether the holders of the required principal amount of Securities have
concurred in any direction, waiver or consent, Securities owned by the Company or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company, will be considered as though not
outstanding, except that for the purposes of determining whether the Trustee will be protected in relying on any such direction, waiver or consent, only Securities that the Trustee knows are so owned will be so disregarded. The term
“control” (including the terms “controlling”, “controlled by” and “under common control with” means the possession, direct or indirect, of the power to direct or cause the direction of the management and
policies of the Company. 
 Article 3 
 Redemption 
 SECTION 3.01. Notices to Trustee. If the Company elects
to redeem Securities pursuant to paragraph 5 of the Securities, it shall notify the Trustee in writing of the redemption date, the principal amount of Securities to be redeemed and the paragraph of the Securities pursuant to which the
redemption will occur. 
 The Company shall give each notice to the Trustee provided for in this Section 3.01 at least
60 days before the redemption date unless the Trustee consents to a shorter period. Such notice shall be accompanied by an Officers’ Certificate and an Opinion of Counsel from the Company to the effect that such redemption will comply with
the conditions herein. 

  
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 SECTION 3.02. Selection of Securities to Be Redeemed. If fewer than all the
Securities are to be redeemed, the Trustee shall select the Securities to be redeemed pro rata to the extent practicable (or, in the case of Securities in global form, the Trustee will select Securities for redemption based on the
depositary’s method that most nearly approximates a pro rata selection, unless otherwise required by law or applicable stock exchange or DTC requirements). The Trustee shall make the selection from outstanding Securities not previously
called for redemption. The Trustee may select for redemption portions of the principal of Securities that have denominations larger than $2,000. Securities and portions of them the Trustee selects shall be in principal amounts of $2,000 or a whole
multiple of $1,000 in excess thereof. No Securities in principal amounts of $2,000 or less can be redeemed in part. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for
redemption. The Trustee shall notify the Company promptly of the Securities or portions of Securities to be redeemed. 
 SECTION
3.03. Notice of Redemption. At least 30 days but not more than 60 days before a date for redemption of Securities, the Company shall mail, or cause to be mailed, a notice of redemption by first-class mail, or to be delivered in
accordance with applicable DTC procedures, to each holder of Securities to be redeemed at such holder’s registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in
connection with a satisfaction and discharge of this Indenture. 
 The notice shall identify the Securities to be redeemed and
shall state: 
 (1) the redemption date; 

(2) the redemption price; 
 (3) the name and address of the Paying Agent; 
 (4) that Securities
called for redemption must be surrendered to the Paying Agent to collect the redemption price and any applicable accrued interest; 
 (5) if fewer than all the outstanding Securities are to be redeemed, the identification and principal amounts of the particular Securities to be redeemed; 

(6) that, unless the Company defaults in making such redemption payment, interest on Securities (or portion thereof)
called for redemption ceases to accrue on and after the redemption date; 
 (7) the “CUSIP” number,
ISIN or “Common Code” number, if any, printed on the Securities being redeemed; 
 (8) that no
representation is made as to the correctness or accuracy of the “CUSIP” number, ISIN, or “Common Code” number, if any, listed in such notice or printed on the Securities; and 

  
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 (9) any condition precedent applicable to the redemption. 

At the Company’s request, upon written notice provided at least 45 days prior to the redemption date (unless the Trustee consents to
a shorter period), the Trustee shall give the notice of redemption in the Company’s name and at the Company’s expense. In such event, the Company shall provide the Trustee with the information required by this Section and a copy of the
notice of redemption to be mailed to the holders. 
 SECTION 3.04. Effect of Notice of Redemption. Once notice of
redemption is mailed or delivered in accordance with the applicable procedures of DTC, Securities called for redemption become due and payable on the redemption date and at the redemption price stated in the notice, subject to the last sentence of
this Section 3.04. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price stated in the notice, plus accrued interest to the redemption date (subject to the right of holders of record on the relevant record
date to receive interest due on the related interest payment date), and such Securities shall be canceled by the Trustee. Failure to give notice or any defect in the notice to any holder shall not affect the validity of the notice to any other
holder. Any redemption or notice of redemption may, at the Company’s option, be subject to one or more conditions precedent. 
 SECTION 3.05. Deposit of Redemption Price. Prior to the redemption date, the Company shall deposit with the Paying Agent (or, if the Company or a Subsidiary of the Company is the Paying Agent,
shall segregate and hold in trust) money sufficient to pay the redemption price of and accrued interest on all Securities to be redeemed on that date other than Securities or portions of Securities called for redemption which have been delivered by
the Company to the Trustee for cancellation. 
 SECTION 3.06. Securities Redeemed in Part. Upon surrender of a Security
that is redeemed in part, the Company shall execute and the Trustee shall authenticate for the holder (at the Company’s expense) a new Security equal in principal amount to the unredeemed portion of the Security surrendered. 

Article 4 

Covenants 

So long as any Obligations shall remain unpaid: 
 SECTION 4.01. Payment of Securities. The Company shall promptly pay the principal of and interest on the Securities on the dates and in the manner provided in the Securities and in this Indenture.
Principal and interest shall be considered paid on the date due if on such date the Trustee or the Paying Agent holds in accordance with this Indenture money sufficient to pay all principal and interest then due. 

SECTION 4.02. Reports to Holders. (a) Regardless of whether required by the rules and regulations of the SEC, so long as any
Securities are outstanding, the Company shall furnish to the holders of the Securities or cause the Trustee to furnish to the holders of the Securities, within the time periods specified in the SEC’s rules and regulations: 

(1) all quarterly and annual reports that would be required to be filed with the SEC on Forms 10-Q and 10-K, respectively,
if the Company were required to file such reports; and 

  
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 (2) all current reports that would be required to be filed with the SEC on
Form 8-K if the Company were required to file such reports. 
 All such reports shall be prepared in all material respects in
accordance with all of the rules and regulations applicable to such reports. Each annual report on Form 10-K shall include a report on the Company’s consolidated financial statements by the Company’s certified independent accountants. In
addition, the Company shall file a copy of each of the reports referred to in clauses (1) and (2) above with the SEC for public availability within the time periods specified in the rules and regulations applicable to such reports (unless
the SEC will not accept such a filing) and shall post the reports on its web site within those time periods. The Company shall at all times comply with TIA §314(a). Delivery of such reports, information and documents to the Trustee, including
the certificate required by Section 4.11, is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained
therein, including the Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates or certificates delivered pursuant to Section 4.11). 

(b) For so long as any Securities remain outstanding, if at any time they are not required to file with the SEC the reports required by
paragraph (a) of this Section 4.02, the Company and the Subsidiary Guarantors will furnish to the holders of the Securities and to securities analysts and prospective investors, upon their request, the information required to be delivered
pursuant to Rule 144A(d)(4) under the Securities Act. 
 (c) The Company will be deemed to have furnished the reports required
by paragraph (a) if this Section 4.02 or the information required by paragraph (b) of this Section 4.02, as applicable, to the holders of the Securities if it has filed such reports or information, respectively, with the SEC
using the EDGAR filing system (or any successor filing system of the SEC) or, if the Company has posted such reports or information, respectively, on its web site, and such reports, certifications or information, respectively, are available to the
holders of the Securities through internet access. 
 (d) Any and all Defaults or Events of Default arising from a failure to
furnish or file in a timely manner a report or certification required by this Section 4.02 shall be deemed cured (and the Company shall be deemed to be in compliance with this Section 4.02) upon furnishing or filing such report or
certification as contemplated by this Section 4.02 (but without regard to the date on which such report or certification is so furnished or filed); provided that such cure shall not otherwise affect the rights of the holders of the
Securities under Article 6 hereof if the principal, premium, if any, and interest have been accelerated in accordance with the terms of this Indenture and such acceleration has not been rescinded or cancelled prior to such cure. 

  
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 SECTION 4.03. Limitation on Indebtedness. The Company shall not, and shall not permit
any of its Subsidiaries to, directly or indirectly, create, incur, assume or suffer to exist any Indebtedness, except: 
 (a)
obligations of the Company or any Subsidiary (contingent or otherwise) existing or arising under any Swap Contract, provided that (i) such obligations are (or were) entered into by such Person in the ordinary course of business (and not
for speculative purposes) to hedge or mitigate risks to which the Company or any Subsidiary of the Company is exposed in the conduct of its business or the management of its liabilities and (ii) such Swap Contract does not contain any provision
exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party; provided that the aggregate Swap Termination Value thereof shall not exceed $30 million at any time outstanding;

 (b) Indebtedness of a Subsidiary of the Company owing to a wholly owned Subsidiary of the Company if such Indebtedness shall
be permitted under the provisions of Section 4.04(a); 
 (c) Indebtedness under Securities issued under this Indenture;

 (d) Existing Indebtedness and any refinancings, refundings, renewals or extensions thereof; provided that the amount
of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with
such refinancing and by an amount equal to any existing commitments unutilized thereunder and the direct or any contingent obligor with respect thereto is not changed, as a result of or in connection with such refinancing, refunding, renewal or
extension; provided further, that the terms relating to principal amount, amortization, maturity, collateral (if any) and subordination (if any), and other material terms taken as a whole, of any such refinancing, refunding, renewing or
extending Indebtedness, and of any agreement entered into and of any instrument issued in connection therewith, are no less favorable in any material respect to the Company and its Subsidiaries than the terms of any agreement or instrument governing
the Indebtedness being refinanced, refunded, renewed or extended and the interest rate applicable to any such refinancing, refunding, renewing or extending Indebtedness does not exceed the then applicable market interest rate; provided, further,
that such refinancing, refunding, renewing or extending Indebtedness has a final maturity date or redemption date, as applicable, no earlier than the final maturity date or redemption date, as applicable, of, and has a Weighted Average Life to
Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being refinanced, refunded, renewed or extended; 
 (e) Guarantees of the Company or any Subsidiary in respect of Indebtedness of the Company or any other Subsidiary otherwise permitted under clauses (a), (b), (c), or (f) of this Section 4.03;

 (f) Indebtedness in respect of Capitalized Lease Obligations, Synthetic Lease Obligations and purchase money obligations for
fixed or capital assets within the limitations set forth in Section 4.09(j); provided, however, that (i) the aggregate amount of all such Indebtedness at any one time outstanding shall not exceed $10.0 million and (ii) Harvest
Holding LLC shall not be permitted to create, incur, assume or suffer to exist any of such Indebtedness; 

  
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 (g) unsecured Indebtedness of the Company or any Subsidiary of the Company that is
subordinated to the Obligations in an aggregate principal amount outstanding not to exceed $40 million at any time; provided that the terms of subordination of any such Indebtedness shall be reasonably satisfactory to the holders of a majority in
principal amount of the Securities then outstanding; 
 (h) Project Financing Indebtedness of any Subsidiary of the Company;

 (i) obligations of the Company or any Subsidiary existing or arising under any bank guaranties or letters of credit provided
to service companies in the ordinary course of business of the Company and its Subsidiaries with respect to drilling operations, in an aggregate principal amount at any time outstanding not exceeding $10 million; 

(j) Indebtedness of Harvest Dussafu BV or any wholly owned Subsidiary of Harvest Dussafu BV to which Harvest Dussafu BV transfers any of
its assets held in connection with the operations of Harvest Dussafu BV in the Gabonese Republic (a “Gabon Subsidiary”), in an aggregate principal amount at any time outstanding not exceeding $300 million, incurred for the purpose of
funding the operations of Harvest Dussafu BV or any Gabon Subsidiary in the Gabonese Republic. 
 The Company shall not,
directly or indirectly, Incur, or permit any Subsidiary Guarantor to Incur, any Indebtedness which by its terms (or by the terms of any agreement governing such Indebtedness) is expressly subordinated in right of payment to any other Indebtedness of
the Company or such Subsidiary Guarantor, as the case may be, unless such Indebtedness is also by its terms (or by the terms of any agreement governing such Indebtedness) made expressly subordinate to the Securities to the same extent and in the
same manner as such Indebtedness is subordinated to other Indebtedness of the Company or such Subsidiary Guarantor. For purposes of the foregoing, no Indebtedness will be deemed to be subordinated in right of payment to any other Indebtedness solely
by virtue of such Indebtedness being unsecured or by virtue of the fact that the holders of such Indebtedness have entered into one or more intercreditor agreements giving one or more of such holders priority over the other holders in the collateral
held by them. 
 For purposes of determining compliance with any U.S. dollar-denominated restriction on the Incurrence of
Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was Incurred, in the case of term
Indebtedness, or first committed, in the case of revolving credit Indebtedness; provided that if such Indebtedness is Incurred to refinance other Indebtedness denominated in a foreign currency, and such refinancing would cause the applicable
U.S. dollar-dominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of such refinancing, such U.S. dollar-dominated restriction shall be deemed not to have been exceeded so long as the
principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. Notwithstanding any other provision of this 

  
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Section 4.03, the maximum amount of Indebtedness that the Company may Incur pursuant to this Section 4.03 shall not be deemed to be exceeded solely as a result of fluctuations in the
exchange rate of currencies. The principal amount of any Indebtedness Incurred to refinance other Indebtedness, if Incurred in a different currency from the Indebtedness being refinanced, shall be calculated based on the currency exchange rate
applicable to the currencies in which such refinancing Indebtedness is denominated that is in effect on the date of such refinancing. 
 SECTION 4.04. Limitation on Investments and Restricted Payments. (a) The Company shall not, and shall not permit any of its Subsidiaries, directly or indirectly, to make or hold any
Investments, except: 
 (1) Investments held by the Company and its Subsidiaries in the form of Cash Equivalents
in an aggregate principal amount for all such Investments not to exceed $800 million at any time outstanding; 

(2) advances to officers, directors and employees of the Company and its Subsidiaries in an aggregate amount not to exceed
$750,000 at any time outstanding, for travel, entertainment, relocation and analogous ordinary business purposes; 
 (3) (A) Investments by the Company and its Subsidiaries in their respective Subsidiaries outstanding on the date hereof, (B) additional Investments by the Company and its Subsidiaries in the Company
or a Subsidiary Guarantor, (C) additional Investments by Subsidiaries of the Company that are not Subsidiary Guarantors in other Subsidiaries of the Company that are not Subsidiary Guarantors, and (D) so long as no Default has occurred and
is continuing or would result from such Investment, additional Investments by the Company or any Subsidiary in direct or indirect wholly owned Subsidiaries of the Company that are not Subsidiary Guarantors; provided that the aggregate amount
of Investments made pursuant to this clause (D) shall not exceed $500 million; 
 (4) Investments
consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from
financially troubled account debtors to the extent reasonably necessary in order to prevent or limit loss; 
 (5)
Guarantees permitted by Section 4.03; 
 (6) Investments existing on the date hereof; 

(7) the purchase or other acquisition of all of the Equity Interests in, or all or substantially all of the property of,
any Person that, upon the consummation thereof, will be wholly owned directly by the Company or one or more of its wholly owned Subsidiaries (including as a result of a merger or consolidation); provided that, with respect to each purchase or
other acquisition made pursuant to this Section 4.04(a)(7): 
 (A) any such newly created or acquired
Subsidiary shall comply with any applicable requirements of Section 4.10; 

  
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 (B) the lines of business of the Person to be (or the property of which is
to be) so purchased or otherwise acquired shall be substantially the same lines of business as one or more of the principal businesses of the Company and its Subsidiaries in the ordinary course; 

(C) such purchase or other acquisition shall not include or result in any contingent liabilities that could reasonably be
expected to be material to the business, financial condition, operations or prospects of the Company and its Subsidiaries, taken as a whole (as determined in good faith by the board of directors (or the persons performing similar functions) of the
Company or such Subsidiary if the board of directors is otherwise approving such transaction and, in each other case, by a Responsible Officer); 
 (D) the total cash and non-cash consideration (including the fair market value of all Equity Interests issued or transferred to the sellers thereof, all indemnities, earnouts and other contingent payment
obligations to, and the aggregate amounts paid or to be paid under non-compete, consulting and other affiliated agreements with, the sellers thereof, all write-downs of property and reserves for liabilities with respect thereto and all assumptions
of debt, liabilities and other obligations in connection therewith) paid by or on behalf of the Company and its Subsidiaries for any such purchase or other acquisition, when aggregated with the total cash and non-cash consideration paid by or on
behalf of the Company and its Subsidiaries for all other purchases and other acquisitions made by the Company and its Subsidiaries pursuant to this Section 4.04(a)(7) shall not exceed $200.0 million in the aggregate; and 

(E) immediately before and immediately after giving pro forma effect to any such purchase or other acquisition, no
Default shall have occurred and be continuing; 
 (8) Investments by the Company and its Subsidiaries not
otherwise permitted under this Section 4.04; provided that the aggregate amount of Investments made pursuant to this Section 4.04(a)(8) shall not exceed $800 million in the aggregate; provided further that, with respect
to each Investment made pursuant to this Section 4.04(a)(8): 
 (A) such Investment shall not include or
result in any contingent liabilities that could reasonably be expected to be material to the business, financial condition, operations or prospects of the Company and its Subsidiaries, taken as a whole (as determined in good faith by the board of
directors (or persons performing similar functions) of the Company or such Subsidiary if the board of directors is otherwise approving such transaction and, in each other case, by a Responsible Officer); 

  
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 (B) such Investment shall be in property that is part of, or in lines of
business that are, substantially the same lines of business as one or more of the principal businesses of the Company and its Subsidiaries in the ordinary course; 

(C) any determination of the amount of such Investment shall include all cash and non-cash consideration (including the
fair market value of all Equity Interests issued or transferred to the sellers thereof, all indemnities, earnouts and other contingent payment obligations to, and the aggregate amounts paid or to be paid under non-compete, consulting and other
affiliated agreements with, the sellers thereof, all write-downs of property and reserves for liabilities with respect thereto and all assumptions of debt, liabilities and other obligations in connection therewith) paid by or on behalf of the
Company and its Subsidiaries in connection with such Investment; and 
 (D) immediately before and immediately
after giving pro forma effect to any such purchase or other acquisition, no Default shall have occurred and be continuing; and 
 (9) other Investments not exceeding $10.0 million in the aggregate. 
 (b) The
Company shall not, and shall not permit any of its Subsidiaries, directly or indirectly, to declare or make any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, or issue or sell any Equity Interests or accept any
capital contributions, except that, so long as no Default shall have occurred and be continuing at the time of any action described below or would result therefrom: 

(1) each Subsidiary of the Company may make Restricted Payments to (A) the Company, (B) any Subsidiary
Guarantors and (C) any other Person that owns a direct Equity Interest in such Subsidiary Guarantors (to the extent such Subsidiary is making a contemporaneous Restricted Payment to the Company or a Subsidiary Guarantor that also holds an
Equity Interest in such Subsidiary), in each case ratably according to their respective holdings of the type of Equity Interest in respect of which such Restricted Payment is being made; 

(2) the Company and each Subsidiary of the Company may declare and make dividend payments or other distributions payable
solely in the common stock or other common Equity Interests of such Person; and 
 (3) the Company and its
Subsidiaries may make capital contributions permitted by Section 4.04(a)(3)(B). 
 (c) The amount of all Restricted Payments
(other than cash) shall be the fair market value on the date of such Restricted Payment of the asset(s) or securities proposed to be paid, transferred or issued by the Company or such Subsidiary of the Company, as the case may be, pursuant to such
Restricted Payment. The fair market value of any cash Restricted Payment shall be its face amount and any non-cash Restricted Payment shall be determined conclusively by the Board of Directors of the Company acting in good faith whose resolution
with respect thereto shall be delivered to the Trustee. 

  
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 SECTION 4.05. Limitation on Restrictions on Distributions from Subsidiaries.

 (a) The Company shall not, and shall not permit any Subsidiary of the Company to, directly or indirectly, enter into or permit
to exist any Contractual Obligation that: 
 (1) limits the ability: 

(A) of any Subsidiary of the Company to make Restricted Payments to the Company or any Subsidiary Guarantor or to
otherwise transfer property to or invest in the Company or any Subsidiary Guarantor, except for any agreement in effect (i) on the date hereof or (ii) at the time any Subsidiary of the Company becomes a Subsidiary of the Company, so long
as such agreement was not entered into solely in contemplation of such Person becoming a Subsidiary of the Company; 
 (B) of any Subsidiary of the Company to Guarantee the Indebtedness of the Company; or 
 (C) of the Company or any Subsidiary to create, incur, assume or suffer to exist Liens on property of such Person; provided, however, that this clause (C) shall not prohibit any negative
pledge incurred or provided in favor of any holder of Indebtedness permitted under Section 4.03 solely to the extent any such negative pledge relates to the property financed by or the subject of such Indebtedness; or 

(2) requires the grant of a Lien to secure an obligation of such Person if a Lien is granted to secure another obligation
of such Person. 
 SECTION 4.06. Limitation on Sales of Assets and Restricted Proceeds. (a) The Company shall not,
and shall not permit any of its Subsidiaries to, make any Asset Sale unless no Default or Event of Default exists and is continuing or is created by such disposition and: 

(1) the Company or such Subsidiary receives consideration at the time of such Asset Sale at least equal to the fair market
value of such assets (as determined in good faith by the Board of Directors of the Company or such Subsidiary and evidenced by a resolution set forth in an Officers’ Certificate, including as to the value of all noncash consideration);

 (2) at least 90% of the consideration therefor received by the Company or such Subsidiary, as the case may be,
shall be in the form of cash; provided, however, that for the purposes of this clause (2), the following are deemed to be cash: (x) any liabilities (as shown on the Company’s or such Subsidiary’s most recent balance
sheet or in the notes thereto) of the Company or such Subsidiary that are assumed by the transferee in connection with the Asset Sale (other than liabilities that are incurred in connection with or in anticipation of such Asset Sale); and
(y) securities received by the Company or such Subsidiary from such transferee that are immediately converted into cash at the face amount or fair market value thereof by the Company or such Subsidiary; and 

  
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 (3) any Net Proceeds received from an Asset Sale shall be held in Cash or
Cash Equivalents pending the use of such proceeds as required or permitted subject to Section 4.06(c). 
 (b) The Company
shall hold all Restricted Proceeds in Cash or Cash Equivalents pending the use of such proceeds as required or permitted subject to Section 4.06(c). 
 (c) When the aggregate amount of Restricted Proceeds exceeds $5,000,000, the Company shall promptly make an offer (the “Restricted Proceeds Offer”) to all holders of the Securities to purchase
the maximum principal amount of Securities that may be purchased out of the Restricted Proceeds, at an offer price in cash in an amount (the “Restricted Proceeds Offer Price”) equal to 105.5% of the principal amount of the Securities plus
accrued and unpaid interest, if any, to the date of the purchase (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date). 

If the aggregate principal amount of Securities surrendered by holders thereof exceeds the amount of Restricted Proceeds, the Company
shall select the Securities to be purchased on a pro rata basis. Upon completion of such Restricted Proceeds Offer, the amount of Restricted Proceeds shall be reset at zero. Simultaneously with the making of such Restricted Proceeds Offer, the
Company shall provide the holders with an Officers’ Certificate setting forth the Restricted Proceeds Offer Price, the date on which the aggregate amount of Restricted Proceeds exceeded $5,000,000 (the “Restricted Proceeds Threshold
Date”) and the calculations used in determining the amount of Restricted Proceeds to be applied to the repurchase of the Securities. 
 (d) Within 30 days following the Restricted Proceeds Threshold Date the Company shall mail a notice of any Restricted Proceeds Offer to each holder, with a copy to the Trustee, stating: 

(1) that a Restricted Proceeds Offer is being made pursuant to this Section 4.06 and that such holder has the right
to require the Company to purchase all or part (as applicable) of such holder’s Securities at a purchase price in cash equal to 105.5% of the principal amount of such Securities to be purchased plus accrued and unpaid interest, if any, to the
date of purchase with respect to the amount to be purchased (subject to the right of holders of record on a record date to receive interest on the relevant interest payment date) (the “Restricted Proceeds Payment”); 

(2) the repurchase date (which shall be no earlier than 30 days nor later than 60 days from the date such notice is
mailed) (the “Restricted Proceeds Payment Date”); and 
 (3) the procedures determined by the Company,
consistent with this Section 4.06, that a holder must follow in order to have its Securities repurchased. 

  
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 (e) On the Restricted Proceeds Payment Date, the Company shall, to the extent lawful:

 (1) accept for payment all Securities or portions of Securities (in amounts of $2,000 or integral multiples of
$1,000 in excess thereof) properly tendered pursuant to the Restricted Proceeds Offer; 
 (2) deposit with the
Paying Agent an amount equal to the Restricted Proceeds Payment in respect of all Securities or portions of Securities so tendered; and 
 (3) deliver or cause to be delivered to the Trustee the Securities so accepted together with an Officers’ Certificate stating the aggregate principal amount of Securities or portions of Securities
being purchased by the Company. 
 The Paying Agent shall promptly mail to each holder of Securities so tendered the Restricted
Proceeds Payment for such Securities, and the Trustee shall promptly authenticate and mail (or cause to be transferred by book entry) to each holder a new Security equal in principal amount to any unpurchased portion of the Securities surrendered,
if any; provided that each such new Security will be in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof. If the Restricted Proceeds Payment Date is on or after an interest record date and on or before the
related interest payment date, any accrued and unpaid interest, if any, will be paid to the Person in whose name a Security is registered at the close of business on such record date, and no additional interest will be payable to holders who tender
pursuant to the Restricted Proceeds Offer. 
 (f) On the Restricted Proceeds Date, all Securities purchased by the Company under
this Section 4.06 shall be delivered by the Company to the Trustee for cancellation (and, if applicable, issuance of new Securities in the principal amount not so purchased), and the Company shall pay the Restricted Proceeds Payment to the
holders entitled thereto. 
 (g) The Company shall comply, to the extent applicable, with the requirements of Section 14(e)
of the Exchange Act and any other securities laws or regulations in connection with the repurchase of Securities pursuant to this Section 4.06. To the extent that the provisions of any securities laws or regulations conflict with provisions of
this Section 4.06, the Company shall comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations described in this Section 4.06 by virtue of the conflict. 

SECTION 4.07. Limitation on Transactions with Affiliates. (a) The Company shall not, and shall not permit any of its
Subsidiaries to, directly or indirectly, enter into any transaction of any kind with any Affiliate of the Company, whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to the Company
or such Subsidiary as would be obtainable by the Company or such Subsidiary at the time in a comparable arm’s length transaction with a Person other than an Affiliate; provided, however, that nothing herein shall prohibit intercompany
loans to fund expenditures of a Subsidiary of the Company in the ordinary course of business and permitted under Sections 4.03 and 4.04(a). 

  
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 SECTION 4.08. Change of Control. (a) If a Change of Control or Total Asset Sale
occurs, each holder will have the right to require the Company to repurchase all or any part (in amounts of $2,000 or integral multiples of $1,000 in excess thereof) of such holder’s Securities at a purchase price in cash equal to 101% (in the
case of a Change of Control) or 105.5% (in the case of a Total Asset Sale) of the principal amount of the Securities plus accrued and unpaid interest, if any, to the date of purchase (subject to the right of holders of record on the relevant record
date to receive interest due on the relevant interest payment date). If a Change of Control and Total Asset Sale are both deemed to have occurred, the provisions applicable to a Total Asset Sale shall control and the applicable purchase price in the
preceding sentence shall be 105.5% of the principal amount of the Securities plus accrued and unpaid interest, if any, to the date of purchase (subject to the right of holders of record on the relevant record date to receive interest due on the
relevant interest payment date). 
 (b) Within 30 days following any Change of Control or Total Asset Sale the Company shall
mail a notice (the “Change of Control Offer”) to each holder, with a copy to the Trustee, stating: 

(1) that a Change of Control or Total Asset Sale has occurred and that such holder has the right to require the Company to
purchase such holder’s Securities at a purchase price in cash equal to 101% (in the case of a Change of Control) or 105.5% (in the case of a Total Asset Sale) of the principal amount of such Securities plus accrued and unpaid interest, if any,
to the date of purchase (subject to the right of holders of record on a record date to receive interest on the relevant interest payment date) (the “Change of Control Payment”); 

(2) the repurchase date (which shall be no earlier than 30 days nor later than 60 days from the date such notice is
mailed) (the “Change of Control Payment Date”); and 
 (3) the procedures determined by the Company,
consistent with this Section 4.08, that a holder must follow in order to have its Securities repurchased. 
 (c) On the
Change of Control Payment Date, the Company shall, to the extent lawful: 
 (1) accept for payment all Securities
or portions of Securities (in amounts of $2,000 or integral multiples of $1,000 in excess thereof) properly tendered pursuant to the Change of Control Offer; 
 (2) deposit with the Paying Agent an amount equal to the Change of Control Payment in respect of all Securities or portions of Securities so tendered; and 

(3) deliver or cause to be delivered to the Trustee the Securities so accepted together with an Officers’ Certificate
stating the aggregate principal amount of Securities or portions of Securities being purchased by the Company. 
 The Paying
Agent shall promptly mail to each holder of Securities so tendered the Change of Control Payment for such Securities, and the Trustee shall promptly 

  
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authenticate and mail (or cause to be transferred by book entry) to each holder a new Security equal in principal amount to any unpurchased portion of the Securities surrendered, if any;
provided that each such new Security will be in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof. If the Change of Control Payment Date is on or after an interest record date and on or before the related interest
payment date, any accrued and unpaid interest, if any, will be paid to the Person in whose name a Security is registered at the close of business on such record date, and no additional interest will be payable to holders who tender pursuant to the
Change of Control Offer. 
 (d) On the Change of Control Payment Date, all Securities purchased by the Company under this
Section 4.08 shall be delivered by the Company to the Trustee for cancellation, and the Company shall pay the Change of Control Payment to the holders entitled thereto. 
 (e) The Company shall not be required to make a Change of Control Offer upon a Change of Control or Total Asset Sale if (1) a third party makes the Change of Control Offer in the manner, at the times
and otherwise in compliance with the requirements set forth in this Section 4.08 applicable to a Change of Control Offer made by the Company and purchases all Securities validly tendered and not withdrawn under such Change of Control Offer or
(2) notice of redemption of all of the Securities has been given pursuant to this Section 4.08 and paragraph 5 of the Securities, unless and until there has been a default in payment of the applicable redemption price. A Change of Control
Offer may be made in advance of a Change of Control or Total Asset Sale, conditional upon such Change of Control or Total Asset Sale, if a definitive agreement is in place for the Change of Control or Total Asset Sale at the time of making of the
Change of Control Offer. 
 (f) The Company shall comply, to the extent applicable, with the requirements of Section 14(e)
of the Exchange Act and any other securities laws or regulations in connection with the repurchase of Securities pursuant to this Section 4.08. To the extent that the provisions of any securities laws or regulations conflict with provisions of
this Section 4.08, the Company shall comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations described in this Section 4.08 by virtue of the conflict. 

SECTION 4.09. Limitation on Liens. The Company shall not, and shall not permit any of its Subsidiaries to, directly or indirectly,
create, incur, assume or suffer to exist any Lien upon any property, assets or revenues, whether now owned or hereafter acquired, or sign or file or suffer to exist under the Uniform Commercial Code of any jurisdiction a financing statement that
names the Company or any of its Subsidiaries as debtor, or assign any accounts or other right to receive income, other than the following: 
 (a) Liens pursuant to this Indenture, the Securities or any Subsidiary Guarantees; 

(b) Existing Liens and any renewals or extensions thereof; provided that (i) the property covered thereby is not changed,
(ii) the amount secured or benefited thereby is not increased, and (iii) the direct or any contingent obligor with respect thereto is not changed; 

  
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 (c) Liens for taxes not yet delinquent or which are being contested in good faith and by
appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; 
 (d) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business that are not overdue for a period of more than
30 days or that are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person; 

(e) pledges or deposits in the ordinary course of business in connection with workers’ compensation, unemployment insurance and
other social security legislation, other than any Lien imposed by ERISA; 
 (f) deposits to secure the performance of bids,
trade contracts and leases (other than Indebtedness), statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 

(g) easements, rights-of-way, restrictions and other similar encumbrances affecting real property that, in the aggregate, are not
substantial in amount, and that do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person; 

(h) Liens securing judgments for the payment of money not constituting an Event of Default under Section 6.01(9); 

(i) Liens on the Specified Property (as defined in the definition of “Project Financing Indebtedness”) of the special purpose
Subsidiary incurring the applicable Project Financing Indebtedness and/or Liens on the contract revenues under a contract for the sale of products or services manufactured at and/or derived from the Specified Property by such special purpose
Subsidiary entered into in the ordinary course of business to secure Project Financing Indebtedness of such special purpose Subsidiary; 
 (j) Liens securing Indebtedness permitted under Section 4.03(f); provided that (i) such Liens do not at any time encumber any property other than the property financed by such
Indebtedness and (ii) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being acquired on the date of acquisition; and 

(k) Liens on the assets of Harvest Dussafu BV or any Subsidiary of Harvest Dussafu BV securing the Indebtedness described in
Section 4.03(j). 
 SECTION 4.10. Future Subsidiary Guarantors. (a) If, after the Issue Date, any Domestic
Subsidiary of the Company that is not already a Subsidiary Guarantor incurs any Indebtedness, or issues any preferred stock, then such Subsidiary shall become a Subsidiary Guarantor by executing and delivering a supplemental indenture, in the form
provided for in this Indenture, to the Trustee within 30 days of the date on which it incurred such Indebtedness or issued such preferred stock. 

  
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 (b) The Subsidiary Guarantee of a Subsidiary Guarantor shall be released upon request of the
Subsidiary Guarantor at such time as such Subsidiary Guarantor is not liable for any Indebtedness and has no preferred stock outstanding, as long as at the time of such release (1) no Default or Event of Default has occurred and is continuing,
(2) the Subsidiary Guarantor is not an obligor party to any undrawn Credit Facility or any Credit Facility under which letters of credit are outstanding or any instrument governing the terms of undrawn Indebtedness or any Guarantee thereof,
(3) the Subsidiary Guarantor has not been liable under any Indebtedness whatsoever during the immediately preceding 181 consecutive days and (4) if the Subsidiary Guarantor paid any fees or similar compensation (specifically excluding
principal and interest) to a creditor in connection with the termination or satisfaction of Indebtedness incurred after the Issue Date, such Subsidiary shall pay the same fee or similar compensation to the holders of the Securities at the time of
such payment, pro rata in accordance with the principal amount of Securities then held by each holder. 
 SECTION 4.11.
Compliance Certificate. The Company shall deliver to the Trustee, within 120 days after the close of each fiscal year, an Officers’ Certificate, one of the signers of which shall be the principal executive officer, principal financial
officer or principal accounting officer of the Company, stating that a review of the activities of the Company and its Subsidiaries has been made under the supervision of the signing Officers with a view to determining whether the Company and the
Subsidiary Guarantors have kept, observed, performed and fulfilled their obligations under this Indenture and further stating, as to each such Officer signing such certificate, that to the best of such Officer’s knowledge, the Company and the
Subsidiary Guarantors during such preceding fiscal year have kept, observed, performed and fulfilled each and every such covenant and no Default occurred during such year and at the date of such certificate there is no Default that has occurred and
is continuing or, if such signers do know of such Default, the certificate shall specify such Default and what action, if any, the Company is taking or proposes to take with respect thereto. The Officers’ Certificate shall also notify the
Trustee should the Company elect to change the manner in which it fixes the fiscal year end. 
 SECTION 4.12. Changes in
Nature of Business. The Company shall not, nor shall it permit any Subsidiary to, directly or indirectly, engage in any material line of business substantially different from those lines of business conducted by the Company and its Subsidiaries
on the date hereof or any business substantially related or incidental thereto. 
 SECTION 4.13. Use of Proceeds. The
Company shall not, nor shall it permit any Subsidiary to, directly or indirectly, use the proceeds of the offering of the Securities, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or carry margin
stock (within the meaning of Regulation U of the Board of Governors of the Federal Reserve System of the United States) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally
incurred for such purpose. 
 SECTION 4.14. Amendments of Organization Documents. The Company shall not, nor shall it
permit any Subsidiary to, directly or indirectly, amend any of its Organization Documents in any way that would have an adverse effect on the ability of the Company or any Subsidiary Guarantor to repay the Securities. 

  
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 SECTION 4.15. Accounting Changes. The Company shall not, nor shall it permit any
Subsidiary to, directly or indirectly, make any change in (a) accounting policies or reporting practices, except as required by GAAP, or (b) fiscal year. 
 SECTION 4.16. Prepayments, Etc. of Indebtedness. The Company shall not, nor shall it permit any Subsidiary to, directly or indirectly, prepay, redeem, purchase, defease or otherwise satisfy prior
to the scheduled maturity thereof in any manner, or make any payment in violation of any subordination terms of, any Indebtedness, except the prepayment of the Securities in accordance with the terms of this Indenture. 

SECTION 4.17. Terrorism Sanctions Regulations. The Company will not and will not permit any Affiliated Entity to knowingly
(a) become an OFAC Listed Person or (b) have any investments in, or engage in any dealings or transactions with, any Blocked Person. 
 SECTION 4.18. Compliance with Laws. The Company shall, and shall cause each Subsidiary to, comply with the requirements of all applicable Laws and all orders, writs, injunctions and decrees
applicable to it or to its business or property, except in such instances in which (a) compliance with such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently
conducted; or (b) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect. 

SECTION 4.19. Compliance with Environmental Laws. The Company shall, and shall cause each Subsidiary to comply, and, except with
respect to oil and gas properties that are not operated by the Company or any of its Subsidiaries, cause all lessees and other Persons operating or occupying its properties to comply, with all applicable Environmental Laws and Environmental Permits,
except in any of the foregoing instances in which the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect; obtain and renew all Environmental Permits necessary for its operations and properties; and conduct
any investigation, study, sampling and testing, and undertake any cleanup, removal, remedial or other action required to remove and clean up all Hazardous Materials from any of its properties, as required under, and in accordance with the
requirements of all Environmental Laws; provided, however, that neither the Company nor any of its Subsidiaries shall be required to undertake any such cleanup, removal, remedial or other action to the extent that its obligation to do so is being
contested in good faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP. 
 Article 5 
 Successor Company 

SECTION 5.01. When Company May Merge or Transfer Assets. (a) The Company shall not consolidate with or merge with or into, or
convey, transfer or lease all or substantially all its assets to, any Person, unless: 
 (1) the resulting,
surviving or transferee Person (the “Successor Company”) will be a corporation organized and existing under the laws of the United States of America, any State of the United States or the District of Columbia and the

  
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Successor Company (if not the Company) will expressly assume, by supplemental indenture, executed and delivered to the Trustee, in form satisfactory to the Trustee, all the obligations of the
Company under the Securities and this Indenture; 
 (2) immediately after giving effect to such transaction (and
treating any Indebtedness that becomes an obligation of the Successor Company or any Subsidiary of the Successor Company as a result of such transaction as having been Incurred by the Successor Company or such Subsidiary at the time of such
transaction), no Default or Event of Default shall have occurred and be continuing; 
 (3) each Subsidiary
Guarantor (unless it is the other party to the transactions above, in which case Section 5.01(a)(1) shall apply) shall have by supplemental indenture confirmed that its Subsidiary Guarantee shall apply to such Person’s obligations in
respect of this Indenture and the Securities; and 
 (4) the Company shall have delivered to the Trustee an
Officers’ Certificate and an Opinion of Counsel, subject to customary assumptions and qualifications, each stating that such consolidation, merger or transfer and such supplemental indenture (if any) or any amendments comply with this
Indenture. 
 For purposes of this Section 5.01, the sale, lease, conveyance, assignment, transfer, or other disposition of
all or substantially all of the properties and assets of one or more Subsidiaries of the Company, which properties and assets, if held by the Company instead of such Subsidiaries, would constitute all or substantially all of the properties and
assets of the Company on a consolidated basis, shall be deemed to be the transfer of all or substantially all of the properties and assets of the Company, provided, however, that any Petrodelta Transaction shall not be deemed to
constitute a sale, lease, conveyance, assignment, transfer, or other disposition of all or substantially all of the properties and assets of any Subsidiary of the Company or the Company for purposes of this Section 5.01. 

Any Subsidiary of the Company may consolidate with, merge into or transfer all or part of its properties and assets to the Company or any
Subsidiary of the Company (so long as no Capital Stock of the Company is distributed to any Person); provided that, in the case of a Subsidiary of the Company that merges into the Company, the Company will not be required to comply with
Section 5.01(a)(4). 
 (b) In addition, the Company shall not permit any Subsidiary Guarantor to consolidate with or merge
with or into any Person (other than the Company or another Subsidiary Guarantor) and will not permit the conveyance, transfer or lease of substantially all of the assets of any Subsidiary Guarantor to any Person (other than the Company or another
Subsidiary Guarantor), unless: 
 (1) (a) the resulting, surviving or transferee Person will be a corporation,
partnership, trust or limited liability company organized and existing under the laws of the United States of America, any State of the United States or the District of Columbia and such Person (if not such Subsidiary Guarantor) will expressly
assume, by supplemental indenture, executed and delivered to the Trustee, all the obligations of such 

  
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Subsidiary Guarantor under its Subsidiary Guarantee; (b) immediately after giving effect to such transaction (and treating any Indebtedness that becomes an obligation of the resulting,
surviving or transferee Person or any Subsidiary of the Company as a result of such transaction as having been Incurred by such Person or such Subsidiary of the Company at the time of such transaction), no Default or Event of Default shall have
occurred and be continuing; and (c) the Company shall have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, subject to customary assumptions and qualifications, each stating that such consolidation, merger or
transfer and such supplemental indenture (if any) comply with this Indenture; or 
 (2) the transaction is made
in compliance with Section 4.06. 
 Article 6 
 Defaults and Remedies 
 SECTION 6.01. Events of Default. Each of the
following is an “Event of Default”: 
 (1) default in any payment of interest on any Security when due
and such default continues for 10 days; 
 (2) default in the payment of the principal of, or premium, if any, on
any Security when due at its Stated Maturity, upon optional redemption, upon declaration of acceleration or otherwise; 
 (3) failure by the Company to comply with Section 5.01 or failure to consummate a purchase of Securities when required pursuant to Section 4.08; 

(4) failure by the Company or any of its Subsidiaries to comply with any of its obligations under Sections 4.03, 4.04,
4.05, 4.06, 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.16 and 4.17 (other than a failure to purchase Securities when required under Section 4.08), for 30 days after the earlier of (i) written notice from the Trustee or the
holders of at least 25% in aggregate principal amount of the then outstanding Securities or (ii) the time at which a Responsible Officer of the Company first has knowledge of the failure; 

(5) failure by the Company or any of its Subsidiaries to comply with any of the other agreements contained in this
Indenture or the Securities (other than those referred to in clause (1), (2), (3) or (4) above), for 60 days after the earlier of (i) written notice from the Trustee or the holders of at least 25% in aggregate principal amount of the
then outstanding Securities or (ii) the time at which a Responsible Officer of the Company first has knowledge of the failure; 
 (6) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness for money borrowed by the Company or any of its
Subsidiaries (or the payment of which is guaranteed by the Company or any of its Subsidiaries), other than Indebtedness owed to the Company or a Subsidiary of the Company, whether such Indebtedness or guarantee

  
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now exists, or is created after the Issue Date, which default has not been cured prior to the expiration of any applicable grace period provided in such Indebtedness (“payment default”)
and the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been such a default, aggregates to more than $3.0 million at any one time; 

(7) the Company, any Subsidiary Guarantor or a Significant Subsidiary or group of Subsidiaries that, taken together (as of
the latest audited consolidated financial statements for the Company and its Subsidiaries), would constitute a Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law (together with Section 6.01(8), the “bankruptcy
provisions”): 
 (A) commences a voluntary case; 

(B) consents to the entry of an order for relief against it in an involuntary case; 

(C) consents to the appointment of a Custodian of it or for any substantial part of its property; or 

(D) makes a general assignment for the benefit of its creditors; 

or takes any comparable action under any foreign laws relating to insolvency; 

(8) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: 

(A) is for relief against the Company, any Subsidiary Guarantor, any Significant Subsidiary or group of Subsidiaries that,
taken together (as of the latest audited consolidated financial statements for the Company and its Subsidiaries), would constitute a Significant Subsidiary in an involuntary case; 

(B) appoints a Custodian of the Company, any Subsidiary Guarantor, any Significant Subsidiary or group of
Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company and its Subsidiaries), would constitute a Significant Subsidiary, or for any substantial part of its or their property; or 

(C) orders the winding up or liquidation of the Company, any Subsidiary Guarantor, any Significant Subsidiary or group of
Subsidiaries that, taken together (as of the latest audited consolidated financial statements for the Company and its Subsidiaries), would constitute a Significant Subsidiary; 
 or any similar relief is granted under any foreign laws and the order or decree remains unstayed and in effect for 60 days; 

(9) failure by the Company or any Significant Subsidiary or group of Subsidiaries that, taken together (as of the latest
audited consolidated financial statements 

  
 39 

 
for the Company and its Subsidiaries), would constitute a Significant Subsidiary, to pay final judgments aggregating in excess of $10.0 million (net of any amounts that a reputable and
creditworthy insurance company has acknowledged liability for in writing), which judgments are not paid, bonded, discharged or stayed for a period of 60 consecutive days following the entry of such judgment or decree (the “judgment default
provision”); or 
 (10) any Subsidiary Guarantee of a Significant Subsidiary or group of Subsidiary
Guarantors that, taken together (as of the latest audited consolidated financial statements for the Company and its Subsidiaries) would constitute a Significant Subsidiary, ceases to be in full force and effect (except as contemplated by the terms
of this Indenture) or is declared null and void in a judicial proceeding or any Subsidiary Guarantor that is a Significant Subsidiary or group of Subsidiary Guarantors that, taken together (as of the latest audited consolidated financial statements
of the Company and its Subsidiaries) would constitute a Significant Subsidiary, denies or disaffirms its obligations under this Indenture or its Subsidiary Guarantee. 
 The foregoing shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary or is effected by operation of law or pursuant to any
judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. 
 The term
“Bankruptcy Law” means Title 11, United States Code, or any similar Federal or state law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under
any Bankruptcy Law. 
 The Company shall deliver to the Trustee, within 30 days after the occurrence thereof, written notice in
the form of an Officers’ Certificate of any Event of Default under clause (6) or (10) and any event which with the giving of notice or the lapse of time would become an Event of Default under clause (4), (5) or (9), its
status and what action the Company is taking or proposes to take with respect thereto. 
 SECTION 6.02. Acceleration. If
an Event of Default (other than an Event of Default specified in Section 6.01(7) or (8)) occurs and is continuing, the Trustee, by notice to the Company, or the holders of at least 25% in principal amount of the outstanding Securities, by
prior written notice to the Company and the Trustee, may, and the Trustee at the request of such holders shall, declare the principal of, premium, if any, and accrued and unpaid interest, if any, on all the Securities to be due and payable. Upon
such a declaration of acceleration, such principal, premium and accrued and unpaid interest shall be due and payable immediately. 
 In the event of a declaration of acceleration of the Securities because an Event of Default described in Section 6.01(6) has occurred and is continuing, the declaration of acceleration of the
Securities shall be automatically annulled if the Event of Default or payment default triggering such Event of Default pursuant to Section 6.01(6) shall be remedied or cured by the Company or a Subsidiary of the Company or waived by the holders
of the relevant Indebtedness within 20 days after the declaration of acceleration with respect thereto and if (1) the annulment of the acceleration of the Securities would not conflict with any judgment or

  
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decree of a court of competent jurisdiction and (2) all existing Events of Default, except nonpayment of principal, premium or interest on the Securities that became due solely because of
the acceleration of the Securities, have been cured or waived. 
 If an Event of Default specified in Section 6.01(7) or
(8) with respect to the Company occurs and is continuing, the principal of, premium, if any, and accrued and unpaid interest on all the Securities shall ipso facto become and be immediately due and payable without any declaration
or other act on the part of the Trustee or any holders. The holders of a majority in principal amount of the outstanding Securities by notice to the Trustee may rescind an acceleration and its consequences if the rescission would not conflict with
any judgment or decree of a court of competent jurisdiction and if all existing Events of Default have been cured or waived except nonpayment of principal, premium, if any, and interest on the Securities that has become due solely because of such
declaration of acceleration. No such rescission shall affect any subsequent Default or impair any right consequent thereto. 

SECTION 6.03. Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to
collect the payment of principal of or interest on the Securities or to enforce the performance of any provision of the Securities or this Indenture. 
 The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Securityholder in
exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other remedy. All available remedies are
cumulative. 
 SECTION 6.04. Waiver of Past Defaults. The holders of a majority in principal amount of the Securities by
written notice to the Trustee may waive an existing Default and its consequences, except (a) a Default in the payment of the principal, premium, if any, or interest on a Security, (b) a Default arising from the failure to redeem or
purchase any Security when required pursuant to this Indenture or (c) a Default in respect of a provision that under Section 8.02 cannot be amended without the consent of each Securityholder affected. When a Default is waived, it is deemed
cured, but no such waiver shall extend to any subsequent or other Default or impair any consequent right. 
 SECTION 6.05.
Control by Majority. The holders of a majority in principal amount of the Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on
the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or, subject to Section 7.01, that the Trustee determines is unduly prejudicial to the rights of other Securityholders or would
involve the Trustee in personal liability; provided, however, that the Trustee may take any other action deemed proper by the Trustee that is not inconsistent with such direction. Prior to taking any action hereunder, the Trustee shall be
entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. 

  
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 SECTION 6.06. Limitation on Suits. Except to enforce the right to receive payment of
principal, premium (if any) or interest when due, no holder of a Security may pursue any remedy with respect to this Indenture or the Securities unless: 
 (1) such holder has previously given to the Trustee notice stating that an Event of Default is continuing; 
 (2) holders of at least 25% in principal amount of the outstanding Securities have requested the Trustee to pursue the remedy; 

(3) such holder or holders have offered to the Trustee security or indemnity satisfactory to the Trustee against any loss,
liability or expense; 
 (4) the Trustee has not complied with such request within 60 days after receipt thereof
and the offer of security or indemnity; and 
 (5) the holders of a majority in principal amount of the
outstanding Securities have not given the Trustee a direction that, in the opinion of the Trustee, is inconsistent with such request within such 60-day period. 
 A Securityholder may not use this Indenture to prejudice the rights of another Securityholder or to obtain a preference or priority over another Securityholder, it being understood that the Trustee does
not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Securityholders. In the event that the Definitive Securities are not issued to any beneficial owner promptly after the Registrar has
received a request from the holder of a Global Security to issue such Definitive Securities to such beneficial owner or its nominee, the Company expressly agrees and acknowledges, with respect to the right of any holder to pursue a remedy pursuant
to this Indenture, the right of such beneficial holder of Securities to pursue such remedy with respect to the portion of the Global Security that represents such beneficial holder’s Securities as if such Definitive Securities had been issued.

 SECTION 6.07. Rights of Holders to Receive Payment. Notwithstanding any other provision of this Indenture, the right
of any holder to receive payment of principal of, premium, if any, and interest on the Securities held by such holder, on or after the respective due dates expressed in the Securities, or to bring suit for the enforcement of any such payment on or
after such respective dates, shall not be impaired or affected without the consent of such holder. 
 SECTION 6.08.
Collection Suit by Trustee. If an Event of Default specified in Section 6.01(1) or (2) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company for the whole
amount then due and owing (together with interest on any unpaid interest to the extent lawful) and the amounts provided for in Section 7.07. 
 SECTION 6.09. Trustee May File Proofs of Claim. The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee
and the Securityholders allowed in any judicial proceedings relative to the Company, its creditors or its property and, unless prohibited by law or applicable regulations, 

  
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may vote on behalf of the holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized
by each holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements
and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section 7.07. 

SECTION 6.10. Priorities. If the Trustee collects any money or property pursuant to this Article 6, it shall pay out the money or
property in the following order: 
 FIRST: to the Trustee, the Paying Agent or Registrar for amounts due
hereunder, including payment of all reasonable compensation, expenses and liabilities incurred, and all advances made, by the Trustee, and the costs and expenses of collection; 

SECOND: to Securityholders for amounts due and unpaid on the Securities for principal and interest, ratably, without
preference or priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and 
 THIRD: to the Company or to such party as a court of competent jurisdiction shall direct, including a Subsidiary Guarantor, if applicable. 

The Trustee may fix a record date and payment date for any payment to Securityholders pursuant to this Section. At least 15 days
before such record date, the Company shall mail to each Securityholder and the Trustee a notice that states the record date, the payment date and amount to be paid. 
 SECTION 6.11. Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee,
a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses,
against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a suit by the Trustee, a suit by a holder pursuant to Section 6.07 or a
suit by holders of more than 10% in aggregate principal amount of the Securities. 
 SECTION 6.12. Waiver of Stay or
Extension Laws. The Company (to the extent it may lawfully do so) shall not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time
hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and shall not hinder, delay or
impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 

  
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 Article 7 
 Trustee 
 SECTION 7.01. Duties of Trustee. (a) If an Event of
Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent Person would exercise or use under the circumstances in
the conduct of such Person’s own affairs. 
 (b) Except during the continuance of an Event of Default: 

(1) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and
no implied covenants or obligations shall be read into this Indenture against the Trustee; and 
 (2) in the
absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements
of this Indenture. However, in the case of any such certificates or opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall examine the certificates and opinions to determine whether or not
they conform to the requirements of this Indenture (but shall not be required to verify any mathematical calculations or other facts, statements, opinions or conclusions stated therein). 

(c) The Trustee may not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful
misconduct, except that: 
 (1) this paragraph does not limit the effect of Section 7.01(b); 

(2) the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer unless it is proved
that the Trustee was negligent in ascertaining the pertinent facts; and 
 (3) the Trustee shall not be liable
with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05. 
 (d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and (c) of this Section 7.01. 

(e) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company.

 (f) Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. The
Trustee shall not be responsible for the application of any money by any Paying Agent other than the Trustee. 

  
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 (g) No provision of this Indenture shall require the Trustee to expend or risk its own funds
or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers, if it shall have reasonable grounds to believe that repayment of such funds or adequate indemnity against
such risk or liability is not reasonably assured to it. 
 (h) Every provision of this Indenture relating to the conduct or
affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section and to the provisions of the TIA. 
 SECTION 7.02. Rights of Trustee. Subject to Section 7.01: 
 (a) The
Trustee may conclusively rely on, and shall be fully protected from acting or refraining from acting on, any document believed by it to be genuine and to have been signed or presented by the proper Person. The Trustee need not investigate any fact
or matter stated in the document. 
 (b) Before the Trustee acts or refrains from acting, it may require an Officers’
Certificate or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in conclusive reliance on the Officers’ Certificate or Opinion of Counsel. 

(c) The Trustee may act directly or indirectly through agents or attorneys and shall not be responsible for the misconduct or negligence
of any agent or attorney appointed with due care. 
 (d) The Trustee shall not be liable for any action it takes or refrains
from taking in good faith which it believes to be authorized or within its rights or powers; provided, however, that the Trustee’s conduct does not constitute willful misconduct or negligence. 

(e) The Trustee may consult with counsel of its selection, and the advice or opinion of counsel with respect to legal matters relating to
this Indenture and the Securities shall be full and complete authorization and protection from liability in respect to any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel.

 (f) The Trustee shall not be required to give any note, bond or surety in respect of the trusts and powers under this
Indenture. 
 (g) The Trustee may request that the Company deliver an Officers’ Certificate setting forth the names of
individuals authorized at such time to take specified actions pursuant to this Indenture, which Officers’ Certificate may be signed by any persons authorized to sign an Officers’ Certificate, including any persons specified as so
authorized in such certificate previously delivered and not superseded. 
 (h) Except with respect to receipt of scheduled
payments of principal and interest and any Default or Event of Default information contained in the Officers’ Certificate delivered to it pursuant to Section 4.11, the Trustee shall have no duty to monitor or investigate the Company’s
compliance with or the breach of any representation, warranty or covenant made in this Indenture. 

  
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 (i) The delivery of reports, information and documents to the Trustee described in
Section 4.02 is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the
Company’s compliance with any of its covenants hereunder (as to which the Trustee is entitled to rely conclusively on Officers’ Certificates). The Trustee is under no duty to examine such reports, information or documents to ensure
compliance with the provisions of this Indenture or to ascertain the correctness or otherwise of the information or the statements contained therein. 
 (j) The Trustee may act and conclusively rely and shall be protected in acting, or refraining from acting, and conclusively relying in good faith on the opinion or advice of, or information obtained from,
any counsel, accountant, appraiser or other expert or adviser, whether retained or employed by the Company or by the Trustee, in relation to any matter arising in the administration of the trusts hereof. 

(k) In no event shall the Trustee be responsible or liable for special, indirect, punitive or consequential loss or damage of any kind
whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(l) The Trustee shall not be deemed to have notice of any Default or Event of Default unless written notice of any event which is in fact
such a Default is received by a Trust Officer and such notice references the Securities and this Indenture. 
 (m) The rights,
privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person
employed to act hereunder. 
 (n) In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural
catastrophes or acts of God; it being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

(o) The Trustee may request that the Company deliver a certificate setting forth the names of Persons and/or titles of officers
authorized at such time to take specified actions pursuant to this Indenture. 
 (p) Neither the Trustee in its individual
capacity, nor any of its owners, beneficiaries, agents, officers, directors, employees, affiliates, successors or assigns will, in the absence of an express agreement to the contrary, be personally liable for the payment of any amounts required to
be paid under the Securities or for the agreements of the Company contained herein. 

  
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 (q) The Trustee will be under no obligation to exercise any of the rights or powers vested
in it by this Indenture at the request or direction of the Holders unless such Holders have offered to the Trustee indemnity or security reasonably satisfactory to the Trustee against the losses, liabilities and expenses that might be incurred by it
in compliance with such request or direction. 
 SECTION 7.03. Individual Rights of Trustee. The Trustee in its
individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent, Registrar, co-registrar or
co-paying agent may do the same with like rights. However, the Trustee must comply with Sections 7.10 and 7.11. 
 SECTION 7.04.
Trustee’s Disclaimer. The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Securities, it shall not be accountable for the Company’s use of the proceeds from
the Securities, and it shall not be responsible for any statement of the Company in this Indenture or in any document issued in connection with the sale of the Securities or in the Securities other than the Trustee’s certificate of
authentication. 
 SECTION 7.05. Notice of Defaults. If a Default occurs, is continuing and is actually known to the
Trustee, the Trustee shall mail to each Securityholder notice of the Default within 90 days after it occurs. Except in the case of a Default in the payment of principal of, premium, if any, or interest on any Security, the Trustee may withhold the
notice if and so long as it in good faith determines that withholding the notice is in the interests of the Securityholders. 

SECTION 7.06. Reports by Trustee to Holders. As promptly as practicable after each May 15, beginning with the
May 15 following the date of this Indenture, and in any event prior to July 15 in each year, the Trustee shall mail to each Securityholder a brief report dated as of May 15 that complies with TIA § 313(a), if such report is
required by TIA § 313. The Trustee also shall comply with TIA § 313(b). 
 A copy of each report at the time of
its mailing to Securityholders shall be filed with each stock exchange (if any) on which the Securities are listed. The Company agrees to notify promptly the Trustee in writing whenever the Securities become listed on any stock exchange and of any
delisting thereof. 
 SECTION 7.07. Compensation and Indemnity. The Company shall pay to the Trustee from time to time
such compensation for its services as agreed by the Company and the Trustee in writing. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Company shall reimburse the Trustee upon
request for all reasonable out-of-pocket expenses, disbursements and advances incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and
expenses, disbursements and advances of the Trustee’s agents, counsel, accountants and experts. The Company shall indemnify the Trustee 

  
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and its officers, directors, employees and agents for, and hold them harmless against, any and all loss, liability, damage, claim or expense (including attorneys’ fees and expenses)
including the costs and expenses of enforcing this Indenture against the Company and the Subsidiary Guarantors (including this Section 7.07) and defending itself against any claim (whether asserted by the Company, the Subsidiary Guarantors, any
holder or any other Person) incurred by it in connection with the administration of this trust and the performance of its duties hereunder. The Trustee shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the
Trustee to so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall defend the claim and the Trustee may have separate counsel and the Company shall pay the fees and expenses of such counsel. The Company
need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee’s own willful misconduct or negligence. 
 To secure the Company’s payment obligations in this Section, the Trustee shall have a lien prior to the Securities on all money or property held or collected by the Trustee other than money or
property held in trust to pay principal of and interest on particular Securities. 
 The Company’s payment obligations
pursuant to this Section shall survive the discharge of this Indenture, the termination of this Indenture under Bankruptcy Law, and the resignation or removal of the Trustee. When the Trustee incurs expenses after the occurrence of a Default
specified in Section 6.01(7) or (8) with respect to the Company, the expenses are intended to constitute expenses of administration under the Bankruptcy Law. 
 SECTION 7.08. Replacement of Trustee. The Trustee may resign at any time by so notifying the Company. The holders of a majority in principal amount of the Securities may remove the Trustee by so
notifying the Trustee in writing no later than 30 days before the effective date of the termination and may appoint a successor Trustee. The Company shall remove the Trustee if: 

(1) the Trustee fails to comply with Section 7.10; 

(2) the Trustee is adjudged bankrupt or insolvent; 

(3) a receiver or other public officer takes charge of the Trustee or its property; or 

(4) the Trustee otherwise becomes incapable of acting. 

If the Trustee resigns or is removed by the Company or by the holders of a majority in principal amount of the Securities and such
holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Company shall promptly appoint a
successor Trustee. 
 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to
the Company. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. Such retiring Trustee shall have no further

  
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responsibility for the exercise of rights and powers or for the performance of the duties and obligations vested in the Trustee under this Indenture with respect to the securities of that or
those securities to which the appointment of such successor Trustee related other than as hereafter expressly set forth herein. The successor Trustee, upon payment of its charges, shall mail a notice of its succession to Securityholders. The
retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 7.07. 
 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee or the holders of 10% in principal amount of the Securities may petition
any court of competent jurisdiction for the appointment of a successor Trustee at the expense of the Company. 
 If the Trustee
fails to comply with Section 7.10, any Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. The retiring Trustee shall have no responsibility or liability for
the action or inaction of any successor Trustee hereunder. 
 Notwithstanding the replacement of the Trustee pursuant to this
Section, the Company’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee. 

SECTION 7.09. Successor Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or
substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the successor Trustee. 

In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts
created by this Indenture any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such Securities so authenticated;
and in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in
all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. 
 SECTION 7.10. Eligibility; Disqualification. The Trustee shall at all times satisfy the requirements of TIA § 310(a). The Trustee shall have a combined capital and surplus of at least
$50,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA § 310(b); provided, however, that there shall be excluded from the operation of TIA § 310(b)(1) any
indenture or indentures under which other securities or certificates of interest or participation in other securities of the Company are outstanding if the requirements for such exclusion set forth in TIA § 310(b)(1) are met.

 SECTION 7.11. Preferential Collection of Claims Against the Company. The Trustee shall comply with TIA
§ 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated. 

  
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 SECTION 7.12. Trustee’s Application for Instructions from the Company. Any
application by the Trustee for written instructions from the Company may, at the option of the Trustee, set forth in writing any action proposed to be taken or omitted by the Trustee under this Indenture and the date on and/or after which such
action shall be taken or such omission shall be effective. The Trustee shall not be liable for any action taken by, or omission of, the Trustee in accordance with a proposal included in such application on or after the date specified in such
application (which date shall not be less than three Business Days after the date any officer of the Company actually receives such application, unless any such officer shall have consented in writing to any earlier date) unless prior to taking any
such action (or the effective date in the case of an omission), the Trustee shall have received written instructions in response to such application specifying the action to be taken or omitted. 

Article 8 

Amendments 
 SECTION 8.01. Without Consent of Holders. The Company, the Subsidiary Guarantors, if any, and the Trustee may amend this Indenture and the Securities without notice to or consent of any holder to:

 (a) cure any ambiguity, omission, defect or inconsistency; 

(b) provide for the assumption by a successor Person of the obligations of the Company or any Subsidiary Guarantor under this Indenture;

 (c) provide for uncertificated Securities in addition to or in place of certificated Securities; provided that the
uncertificated Securities are issued in registered form for purposes of Section 163(f) of the Code, or in a manner such that the uncertificated Securities are described in Section 163(f)(2)(B) of the Code; 

(d) add Guarantees with respect to the Securities, including any Subsidiary Guarantees, or release a Subsidiary Guarantor in accordance
with the applicable provisions of this Indenture; 
 (e) secure the Securities; 

(f) comply with any requirement of the SEC in connection with the qualification of this Indenture under the TIA; 

(g) evidence and provide for the acceptance of appointment thereunder by a successor trustee with respect to the debt securities of one
or more series and to add to or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts hereunder by more than one trustee, pursuant to the requirements of this Indenture; or

 (h) make any amendment to the provisions of this Indenture relating to the form, authentication, transfer and legending of
Securities; provided, however, that 

  
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(a) compliance with this Indenture as so amended would not result in Securities being transferred in violation of the Securities Act or any other applicable securities law and (b) such
amendment does not materially and adversely affect the rights of holders to transfer Securities. 
 After an amendment under
this Section becomes effective, the Company shall mail to holders of the Securities a notice briefly describing such amendment. The failure to give such notice to all holders of the Securities, or any defect therein, shall not impair or affect the
validity of an amendment under this Section. 
 SECTION 8.02. With Consent of Holders. The Company, the Subsidiary
Guarantors, if any, and the Trustee may amend or supplement this Indenture and the Securities with the written consent of the holders of a majority in principal amount of the Securities then outstanding (including, without limitation, consents
obtained in connection with a purchase of, or tender offer or exchange offer for, the Securities) and any past default or compliance with any provisions may also be waived with the consent of the holders of at least a majority in principal amount of
the Securities then outstanding (including, without limitation, consents obtained in connection with a purchase of, or tender offer or exchange offer for, the Securities). However, without the consent of each holder of an outstanding Security
affected thereby, an amendment or waiver may not: 
 (a) reduce the amount of Securities whose holders must consent to an
amendment; 
 (b) reduce the stated rate of or extend the stated time for payment of interest on any Security; 

(c) reduce the principal of or change the Stated Maturity of any Security; 

(d) reduce the premium payable upon the redemption of any Security or change the time at which any Security may be redeemed as pursuant
to Article 3 hereof or paragraph 5 of such Security whether through an amendment, waiver or otherwise; 
 (e) make any
Security payable in money other than that stated in the Security; 
 (f) impair the right of any holder to receive payment of
premium, if any, principal of and interest on such holder’s Securities on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such holder’s Securities; 

(g) make any change in the ranking or priority of any Security that would adversely affect the holders of the Securities; 

(h) make any change in Section 6.04 or 6.07 or the second sentence of this Section; or 

(i) make any change in, or release other than in accordance with this Indenture, any Subsidiary Guarantee, in each case in any manner
adverse to the holders. 

  
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 It shall not be necessary for the consent of the holders under this Section to approve the
particular form of any proposed amendment, but it shall be sufficient if such consent approves the substance thereof. 
 After
an amendment under this Section becomes effective, the Company shall mail to Securityholders a notice briefly describing such amendment. The failure to give such notice to all Securityholders, or any defect therein, shall not impair or affect the
validity of an amendment under this Section. 
 SECTION 8.03. Revocation and Effect of Consents and Waivers. A consent to
an amendment or a waiver by a holder of a Security shall bind the holder and every subsequent holder of that Security or portion of the Security that evidences the same debt as the consenting holder’s Security, even if notation of the consent
or waiver is not made on the Security. However, any such holder or subsequent holder may revoke the consent or waiver as to such holder’s Security or portion of the Security if the Trustee receives the notice of revocation before the date the
amendment or waiver becomes effective. After an amendment or waiver becomes effective, it shall bind every Securityholder. An amendment or waiver becomes effective upon the execution of such amendment or waiver by the Trustee. 

The Company may, but shall not be obligated to, fix a record date for the purpose of determining the Securityholders entitled to give
their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Securityholders at
such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be holders after such
record date. No such consent shall be valid or effective for more than 120 days after such record date. 
 SECTION 8.04.
Notation on or Exchange of Securities. If an amendment changes the terms of a Security, the Trustee may require the holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding
the changed terms and return it to the holder. Alternatively, if the Company or the Trustee so determine, the Company in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms. Failure
to make the appropriate notation or to issue a new Security shall not affect the validity of such amendment. 
 SECTION 8.05.
Trustee To Sign Amendments. The Trustee shall sign any amendment authorized pursuant to this Article 8 if the amendment does not affect the rights, duties, liabilities or immunities of the Trustee under this Indenture or otherwise. If it
does, the Trustee may but need not sign it. As a condition to signing such amendment the Trustee shall receive indemnity or security reasonably satisfactory to it and shall receive, and (subject to Section 7.01) shall be fully protected in
conclusively relying upon, an Officers’ Certificate and an Opinion of Counsel stating that such amendment is authorized or permitted by this Indenture and that such amendment is the legal, valid and binding obligation of the Company,
enforceable against the Company in accordance with its terms. 

  
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 SECTION 8.06. Payment for Consent. Neither the Company nor any of its Subsidiaries
shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fees or otherwise, to any holder of any Securities for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of
this Indenture or the Securities unless such consideration is offered to be paid or is paid to all holders of the Securities that consent, waive or agree to amend in the time set forth in the solicitation documents relating to such consent, waiver
or amendment. 
 Article 9 
 Subsidiary Guarantees 
 SECTION 9.01. Guarantees. (a) Each
Subsidiary Guarantor hereby unconditionally and irrevocably guarantees, jointly and severally, to each holder and to the Trustee and its successors and assigns (a) the full and punctual payment of principal of and interest on the Securities
when due, whether at maturity, by acceleration, by redemption or otherwise, and all other monetary obligations of the Company under this Indenture and the Securities and (b) the full and punctual performance within applicable grace periods of
all other obligations of the Company under this Indenture and the Securities (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). Each Subsidiary Guarantor further agrees that the Guaranteed Obligations
may be extended or renewed, in whole or in part, without notice or further assent from such Subsidiary Guarantor and that such Subsidiary Guarantor shall remain bound under this Article 9 notwithstanding any extension or renewal of any
Guaranteed Obligation. 
 (b) To the fullest extent allowed by applicable law, each Subsidiary Guarantor waives presentation to,
demand of, payment from and protest to the Company of any of the Guaranteed Obligations and also waives notice of protest for nonpayment. To the fullest extent allowed by applicable law, each Subsidiary Guarantor waives notice of any default under
the Securities or the Guaranteed Obligations. The obligations of each Subsidiary Guarantor hereunder shall not be affected by: (1) the failure of any holder or the Trustee to assert any claim or demand or to enforce any right or remedy against
the Company or any other Person (including any Subsidiary Guarantor) under this Indenture, the Securities or any other agreement or otherwise; (2) any extension or renewal of any thereof; (3) any rescission, waiver, amendment or
modification of any of the terms or provisions of this Indenture, the Securities or any other agreement; (4) the release of any security held by any holder or the Trustee for the Guaranteed Obligations or any of them; (5) the failure of
any holder or the Trustee to exercise any right or remedy against any other guarantor of the Guaranteed Obligations; or (6) except as set forth in Section 9.06, any change in the ownership of such Subsidiary Guarantor. 

Each Subsidiary Guarantor further agrees that its Subsidiary Guarantee herein constitutes a guarantee of payment, performance and
compliance when due (and not a guarantee of collection) and (to the extent it may lawfully do so) waives any right to require that any resort be had by any holder or the Trustee to any security held for payment of the Guaranteed Obligations.

  
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 (c) To the fullest extent allowed by applicable law, except as expressly set forth in
Sections 9.02 and 9.06, the obligations of each Subsidiary Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or
compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the
generality of the foregoing, to the fullest extent allowed by applicable law, the obligations of each Subsidiary Guarantor herein shall not be discharged or impaired or otherwise affected by the failure of any holder or the Trustee to assert any
claim or demand or to enforce any remedy under this Indenture, the Securities or any other agreement, by any waiver or modification of any thereof, by any default, failure or delay, willful or otherwise, in the performance of the obligations, or by
any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of such Subsidiary Guarantor or would otherwise operate as a discharge of such Subsidiary Guarantor as a matter
of law or equity. 
 (d) Each Subsidiary Guarantor further agrees that its Guarantee herein shall continue to be effective or be
reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any holder or the Trustee upon the bankruptcy or reorganization of
the Company or otherwise. 
 (e) In furtherance of the foregoing and not in limitation of any other right which any holder or
the Trustee has at law or in equity against any Subsidiary Guarantor by virtue hereof, upon the failure of the Company to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due, whether at maturity, by
acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Subsidiary Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in
cash, to the holders or the Trustee an amount equal to the sum of (A) the unpaid amount of such Guaranteed Obligations, (B) accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by law) and
(C) all other monetary Guaranteed Obligations of the Company to the holders and the Trustee. 
 (f) Each Subsidiary
Guarantor agrees that it shall not be entitled to any right of subrogation in respect of any Obligations guaranteed hereby until payment in full of all Guaranteed Obligations. Each Subsidiary Guarantor further agrees that, as between it, on the one
hand, and the holders and the Trustee, on the other hand, (i) the maturity of the Guaranteed Obligations hereby may be accelerated as provided in Article 6 for the purposes of such Subsidiary Guarantor’s Subsidiary Guarantee herein,
notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guaranteed Obligations guaranteed hereby and (ii) in the event of any declaration of acceleration of such Guaranteed Obligations as
provided in Article 6, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by such Subsidiary Guarantor for the purposes of this Section. 

  
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 (g) Each Subsidiary Guarantor also agrees to pay any and all costs and expenses (including
reasonable attorneys’ fees and expenses) incurred by the Trustee or any holder in enforcing any rights under this Section. 

(h) Each Subsidiary Guarantor hereby waives any right to which it may be entitled to have its obligations hereunder divided among the
Subsidiary Guarantors, such that such Subsidiary Guarantor’s obligations would be less than the full amount claimed. Each Subsidiary Guarantor hereby waives any right to which it may be entitled to have the assets of the Company first be used
and depleted as payment of the Company’s or such Subsidiary Guarantor’s obligations hereunder prior to any amounts being claimed from or paid by such Subsidiary Guarantor hereunder. Each Subsidiary Guarantor hereby waives any right to
which it may be entitled to require that the Company be sued prior to an action being initiated against such Subsidiary Guarantor. 
 SECTION 9.02. Limitation on Liability. Any term or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the Guaranteed Obligations guaranteed hereunder by
any Subsidiary Guarantor shall not exceed the maximum amount that can be hereby guaranteed without rendering this Indenture, as it relates to such Subsidiary Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent
transfer or similar laws affecting the rights of creditors generally. 
 SECTION 9.03. Successors and Assigns. This
Article 9 shall be binding upon each Subsidiary Guarantor and its successors and assigns and shall inure to the benefit of the successors and assigns of the Trustee and the holders and, in the event of any transfer or assignment of rights by
any holder or the Trustee, the rights and privileges conferred upon that party in this Indenture and in the Securities shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this
Indenture. 
 SECTION 9.04. No Waiver. Neither a failure nor a delay on the part of either the Trustee or the holders in
exercising any right, power or privilege under this Article 9 shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights, remedies and
benefits of the Trustee and the holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Article 9 at law, in equity, by statute or otherwise. 

SECTION 9.05. Modification. No modification, amendment or waiver of any provision of this Article 9, nor the consent to any
departure by any Subsidiary Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in the specific instance and for the purpose for
which given. No notice to or demand on any Subsidiary Guarantor in any case shall entitle such Subsidiary Guarantor to any other or further notice or demand in the same, similar or other circumstances. 

SECTION 9.06. Release of Subsidiary Guarantor. A Subsidiary Guarantor shall be released from its obligations under this Article 9
(other than any obligation that may have arisen under Section 9.07): 
 (a) upon the sale or other disposition (whether by
merger, consolidation, the sale of its Capital Stock or the sale of all or substantially all of its assets (other than by lease)) of such Subsidiary Guarantor; or 

  
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 (b) in accordance with Section 4.10. 

provided, however, that in the case of clause (a) above, (i) such sale or other disposition is made to a Person other than the Company
or a Subsidiary of the Company (and whether or not the Subsidiary Guarantor is the surviving Person in such transaction), (ii) such sale or disposition is made in compliance with this Indenture, (iii) all the obligations of such Subsidiary
Guarantor under all Credit Facilities and related documentation and any other agreements relating to any other Indebtedness of the Company or its Subsidiaries terminate upon consummation of such transaction, and (iv) the Company provides an
Officers’ Certificate to the Trustee to the effect that the Company shall comply with its obligations under Section 4.06. 
 At the request of the Company, the Trustee shall execute and deliver an appropriate instrument evidencing such release. 
 SECTION 9.07. Contribution. Each Subsidiary Guarantor that makes a payment under its Subsidiary Guarantee shall be entitled upon payment in full of all Guaranteed Obligations under this Indenture
to a contribution from each other Subsidiary Guarantor in an amount equal to such other Subsidiary Guarantor’s pro rata portion of such payment based on the respective net assets of all the Subsidiary Guarantors at the time of such
payment determined in accordance with GAAP. 
 SECTION 9.08. Non-Impairment. The failure to endorse a notation of
Subsidiary Guarantee on any Security shall not affect or impair the validity thereof. 
 Article 10 

Miscellaneous 
 SECTION 10.01. Notices. Any notice, request or communication shall be in writing and delivered in person or mailed by first-class mail addressed as follows: 

if to the Company or any Subsidiary Guarantor: 
 Harvest Natural Resources, Inc. 
 1177 Enclave Parkway, Suite 300 

Houston, Texas 77077 
 (fax: 281-899-5702) 
 Attention: General Counsel 

if to the Trustee: 
 U.S. Bank National Association 
 555 San Felipe, Suite 1150 

Houston, Texas 77056 
 (Fax: 713-235-9213) 
 Attention: Mauri Cowen 

  
 56 

 The Company or the Trustee by notice to the other may designate additional or different
addresses for subsequent notices or communications. 
 Any notice or communication mailed to a Securityholder shall be mailed to
the Securityholder at the Securityholder’s address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. 

Failure to mail a notice or communication to a Securityholder or any defect in it shall not affect its sufficiency with respect to other
Securityholders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it. 
 SECTION 10.02. Communication by Holders with Other Holders. Securityholders may communicate pursuant to TIA § 312(b) with other Securityholders with respect to their rights under this
Indenture or the Securities. The Company, any Subsidiary Guarantor, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 
 SECTION 10.03. Certificate and Opinion as to Conditions Precedent. Upon any request or application by the Company or any of the Subsidiary Guarantors to the Trustee to take or refrain from taking
any action under this Indenture, the Company or such Subsidiary Guarantor shall furnish to the Trustee: 
 (1) an
Officers’ Certificate in form and substance reasonably satisfactory to the Trustee stating that, in the opinion of the signers, all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied
with; and 
 (2) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee stating that,
in the opinion of such counsel, all such conditions precedent have been complied with; provided, however, that such Opinion of Counsel shall not be required to be furnished in connection with the issuance of the Securities on the Issue Date.

 SECTION 10.04. Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance
with a covenant or condition provided for in this Indenture shall include: 
 (1) a statement that the individual
making such certificate or opinion has read such covenant or condition; 
 (2) a brief statement as to the nature
and scope of the examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 

  
 57 

 (3) a statement that, in the opinion of such individual, he has made such
examination or investigation as is reasonably necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with (which, in the case of an Opinion of Counsel, may be limited to reliance on
an Officers’ Certificate as to matters of fact); and 
 (4) a statement as to whether or not, in the opinion
of such individual, such covenant or condition has been complied with. 
 SECTION 10.05. When Securities Disregarded. In
determining whether the holders of the required principal amount of Securities have concurred in any direction, waiver or consent, Securities owned by the Company or by any Person directly or indirectly controlling or controlled by or under direct
or indirect common control with the Company shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in conclusively relying on any such direction, waiver or consent,
only Securities which a Trust Officer actually knows are so owned shall be so disregarded. Also, subject to the foregoing, only Securities outstanding at the time shall be considered in any such determination. 

SECTION 10.06. Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for action by or a meeting of
Securityholders. The Registrar and the Paying Agent may make reasonable rules and set reasonable requirements for their functions. 
 SECTION 10.07. Legal Holidays. If a payment date falls on a day other than a Business Day, payment shall be made on the next succeeding Business Day, and no interest shall accrue for the
intervening period. If a regular record date falls on a day other than a Business Day, the record date shall not be affected. 

SECTION 10.08. Governing Law; Submission to Jurisdiction. This Indenture and the Securities shall be governed by, and construed in
accordance with, the laws of the State of New York. The Company and each Subsidiary Guarantor irrevocably and unconditionally submit to the non-exclusive jurisdiction of the courts of the State of New York or any federal court sitting in the
borough of Manhattan, the city of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Indenture or for recognition or enforcement of any judgment and irrevocably and unconditionally
agree that all claims in respect of any such action or proceeding may be heard and determined in such New York state court or, to the fullest extent permitted by applicable Law, in such federal court. 

SECTION 10.09. No Recourse Against Others. A director, officer, employee, incorporator or equityholder, as such, of the Company or
any Subsidiary Guarantor shall not have any liability for any obligations of the Company under the Securities or this Indenture or of any Subsidiary Guarantor under its Subsidiary Guarantee or this Indenture or for any claim based on, in respect of,
or by reason of such obligations or their creation. By accepting a Security, each Securityholder shall waive and release all such liability. The waiver and release shall be part of the consideration for the issue of the Securities. 

  
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 SECTION 10.10. Successors. All agreements of the Company in this Indenture and the
Securities shall bind their successors. All agreements of the Trustee in this Indenture shall bind its successors. 
 SECTION
10.11. Severability. In case any provision in this Indenture or in the Securities shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired
thereby. 
 SECTION 10.12. Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed
copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. The exchange of copies of this Indenture and of signature pages by facsimile or PDF transmission shall constitute
effective execution and delivery of this Indenture as to the parties hereto and may be used in lieu of the original Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original
signatures for all purposes. 
 SECTION 10.13. Table of Contents; Headings. The table of contents, cross-reference sheet
and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 

SECTION 10.14. WAIVER OF JURY TRIAL. THE COMPANY, THE SUBSIDIARY GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVE, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE SECURITIES OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

SECTION 10.15. U.S.A. Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of the U.S.A. Patriot
Act, the Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify and record information that identifies each person or legal entity that establishes a
relationship or opens an account with the Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it may request in order for the Trustee to satisfy the requirements of the U.S.A. Patriot Act.

 SECTION 10.16. Force Majeure. In no event shall the Trustee be responsible or liable for any failure or delay in the
performance of its obligations hereunder or under any other document or agreement entered into in connection herewith arising out of or caused by, directly or indirectly, forces beyond its control, including, without limitation, strikes, work
stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it
being understood that the Trustee shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

  
 59 

 (Signature Pages Follow) 

  
 60 

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

			
	HARVEST NATURAL RESOURCES, INC.
		
	By:	 	 /s/ Stephen C. Haynes

	Name:	 	Stephen C. Haynes
	Title:	 	Vice President and Chief Financial Officer

 [Harvest Natural Resources Indenture] 

 U.S. BANK NATIONAL ASSOCIATION, as Trustee 

 

			
	By:	 	 /s/ Mauri Cowen

	Name:	 	Mauri Cowen
	Title:	 	Vice President

 [Harvest Natural Resources Indenture] 

 RULE 144A/REGULATION S APPENDIX 

PROVISIONS RELATING TO SECURITIES 
 1. Definitions 
 1.1 Definitions 

For the purposes of this Appendix the following terms shall have the meanings indicated below: 

“Definitive Security” means a certificated Security bearing, if required, the appropriate restricted securities legend set
forth in Section 2.3(e). 
 “Depository” means The Depository Trust Company, its nominees and their respective
successors. 
 “Distribution Compliance Period”, with respect to any Securities, means the period of 40 consecutive
days beginning on and including the later of (i) the day on which such Securities are first offered to Persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S and (ii) the issue
date with respect to such Securities. 
 “IAI” means an institutional “accredited investor”, as defined in
Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act. 
 “Purchase Agreement” means
with respect to the Securities issued on the Issue Date, the Purchase Agreement dated October 11, 2012, among the Company and the several initial purchasers named therein. 

“QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Rule 144A Securities” means all Securities offered and sold to QIBs in reliance on Rule 144A. 

“Securities Act” means the Securities Act of 1933. 
 “Securities Custodian” means the custodian with respect to a Global Security (as appointed by the Depository), or any successor Person thereto and shall initially be the Trustee. 

“Transfer Restricted Securities” means Securities that bear or are required to bear the legend relating to restrictions on
transfer relating to the Securities Act set forth in Section 2.3(e) hereto. 

 1.2 Other Definitions 

 

					
	 Term
	  	 Defined
in
 Section:
	 
	 “Agent Members”
	  	 	2.1(b)	  
	 “Global Securities”
	  	 	2.1(a)	  
	 “IAI Global Security”
	  	 	2.1(a)	  
	 “Regulation S”
	  	 	2.1(a)	  
	 “Regulation S Global Security”
	  	 	2.1(a)	  
	 “Rule 144A”
	  	 	2.1(a)	  
	 “Rule 144A Global Security”
	  	 	2.1(a)	  

 2. The Securities. 
 2.1(a) Form and Dating. The Securities will be offered and sold by the Company pursuant to the Purchase Agreement pursuant to Section 4(a)(2) of the Securities Act or Regulation S under
the Securities Act (“Regulation S”) (but not pursuant to Rule 144A under the Securities Act (“Rule 144A”)). Securities may thereafter be transferred to, among others, QIBs, IAIs and purchasers in reliance on Regulation S, subject
to the restrictions on transfer set forth herein. Securities resold pursuant to Rule 144A shall be issued in the form of one or more permanent global Securities in definitive, fully registered form (collectively, the “Rule 144A Global
Security”); Securities resold to IAIs shall be issued in the form of one or more permanent global Securities in definitive, fully registered form (collectively, the “IAI Global Security”); and Securities initially resold pursuant to
Regulation S shall be issued initially in the form of one or more global securities in fully registered form (the “Regulation S Global Security”), in each case without interest coupons and with the global securities legend and the
applicable restricted securities legend set forth in Exhibit 1 hereto, which shall be deposited on behalf of the purchasers of the Securities represented thereby with the Securities Custodian and registered in the name of the Depository or a
nominee of the Depository, duly executed by the Company and authenticated by the Trustee as provided in this Indenture. 

Beneficial interests in Regulation S Global Securities or IAI Global Securities may be exchanged for interests in Rule 144A Global
Securities if (1) such exchange occurs in connection with a transfer of Securities in compliance with Rule 144A and (2) the transferor of the beneficial interest in the Regulation S Global Security or the IAI Global Security, as
applicable, first delivers to the Trustee a written certificate (in a form satisfactory to the Trustee) to the effect that the beneficial interest in the Regulation S Global Security or the IAI Global Security, as applicable, is being transferred to
a Person (a) who the transferor reasonably believes 

  
 2 

 
to be a QIB, (b) purchasing for its own account or the account of a QIB in a transaction meeting the requirements of Rule 144A and (c) in accordance with all applicable securities laws
of the States of the United States and other jurisdictions. 
 Beneficial interests in Regulation S Global Securities and Rule
144A Global Securities may be exchanged for an interest in IAI Global Securities if (1) such exchange occurs in connection with a transfer of the securities in compliance with an exemption under the Securities Act and (2) the transferor of
the Regulation S Global Security or Rule 144A Global Security, as applicable, first delivers to the Trustee a written certificate (substantially in the form of Exhibit A to this Indenture) to the effect that (A) the Regulation S
Global Security or Rule 144A Global Security, as applicable, is being transferred (a) to an IAI that is an IAI acquiring the securities for its own account or for the account of such an IAI, in each case in a minimum principal amount of the
Securities of $100,000, for investment purposes and not with a view to or for offer or sale in connection with any distribution in violation of the Securities Act and (B) in accordance with all applicable securities laws of the States of the
United States and other jurisdictions. 
 Beneficial interests in a Rule 144A Global Security or an IAI Global Security may
be transferred to a Person who takes delivery in the form of an interest in a Regulation S Global Security, whether before or after the expiration of the Distribution Compliance Period, only if the transferor first delivers to the Trustee a
written certificate (in the form set forth on the reverse of the Security) to the effect that such transfer is being made in accordance with Rule 903 or 904 of Regulation S or Rule 144 (if applicable). 

The Rule 144A Global Security, the IAI Global Security and the Regulation S Global Security are collectively referred to herein as
“Global Securities”. The aggregate principal amount of the Global Securities may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depository or its nominee as hereinafter provided.

 (b) Book-Entry Provisions. This Section 2.1(b) shall apply only to a Global Security deposited with or on behalf
of the Depository. 
 The Company shall execute and the Trustee shall, in accordance with this Section 2.1(b) and
Section 2.2, authenticate and deliver initially one or more Global Securities that (a) shall be registered in the name of the Depository for such Global Security or Global Securities or the nominee of such Depository and (b) shall be
delivered by the Trustee to such Depository or pursuant to such Depository’s instructions or held by the Trustee as custodian for the Depository. 
 Members of, or participants in, the Depository (“Agent Members”) shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depository or by the
Trustee as the custodian of the Depository or under such Global Security, and the Company, the Trustee and any agent of the Company or the Trustee shall be entitled to treat the Depository as the absolute owner of such Global Security for all
purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or

  
 3 

 
other authorization furnished by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices of such Depository governing the exercise of the
rights of a holder of a beneficial interest in any Global Security. 
 (c) Definitive Securities. Except as provided in
Section 2.3 or 2.4, owners of beneficial interests in Global Securities shall not be entitled to receive physical delivery of Definitive Securities. 
 2.2 Authentication. The Trustee shall authenticate and deliver on the Issue Date, an aggregate principal amount of $79,750,000 11.0% Senior Notes Due. Such order shall specify the amount of
the Securities to be authenticated and the date on which the original issue of Securities is to be authenticated. 
 2.3
Transfer and Exchange. 
 (a) Transfer and Exchange of Definitive Securities. When Definitive Securities are
presented to the Registrar with a request: 
  

	 	(x)	to register the transfer of such Definitive Securities; or 

  

	 	(y)	to exchange such Definitive Securities for an equal principal amount of Definitive Securities of other authorized denominations, 

the Registrar shall register the transfer or make the exchange as requested if its reasonable requirements for such transaction are met; provided,
however, that the Definitive Securities surrendered for transfer or exchange: 
 (i) shall be duly endorsed
or accompanied by a written instrument of transfer in form reasonably satisfactory to the Company and the Registrar, duly executed by the holder thereof or its attorney duly authorized in writing; and 

(ii) if such Definitive Securities are required to bear a restricted securities legend, they are being transferred or
exchanged pursuant to an effective registration statement under the Securities Act, pursuant to Section 2.3(b) or pursuant to clause (A), (B) or (C) below, and are accompanied by the following additional information and documents, as
applicable: 
 (A) if such Definitive Securities are being delivered to the Registrar by a holder for
registration in the name of such holder, without transfer, a certification from such holder to that effect; or 

(B) if such Definitive Securities are being transferred to the Company, a certification to that effect; or 

(C) if such Definitive Securities are being transferred (x) pursuant to an exemption from registration in accordance with
Rule 144A, Regulation S or Rule 144 under the Securities Act; or (y) in reliance upon another exemption from the registration requirements of the Securities Act: (i) a 

  
 4 

 
certification to that effect (in the form set forth on the reverse of the Security) and (ii) if the Company so requests, an opinion of counsel or other evidence reasonably satisfactory to
them as to the compliance with the restrictions set forth in the legend set forth in Section 2.3(d)(i). 
 (b)
Restrictions on Transfer of a Definitive Security for a Beneficial Interest in a Global Security. A Definitive Security may not be exchanged for a beneficial interest in a Rule 144A Global Security, an IAI Global Security or a Regulation
S Global Security except upon satisfaction of the requirements set forth below. Upon receipt by the Trustee of a Definitive Security, duly endorsed or accompanied by appropriate instruments of transfer, in form satisfactory to the Trustee, together
with: 
 (i) certification, in the form set forth on the reverse of the Security, that such Definitive Security
is either (A) being transferred to a QIB in accordance with Rule 144A, (B) being transferred to an IAI or (C) being transferred after expiration of the Distribution Compliance Period by a Person who initially purchased such Security
in reliance on Regulation S to a buyer who elects to hold its interest in such Security in the form of a beneficial interest in the Regulation S Global Security; and 

(ii) written instructions directing the Trustee to make, or to direct the Securities Custodian to make, an adjustment on
its books and records with respect to such Rule 144A Global Security (in the case of a transfer pursuant to clause (b)(i)(A)), IAI Global Security (in the case of a transfer pursuant to clause (b)(i)(B)) or Regulation S Global Security (in the
case of a transfer pursuant to clause (b)(i)(C)) to reflect an increase in the aggregate principal amount of the Securities represented by the Rule 144A Global Security, IAI Global Security or Regulation S Global Security, as applicable, such
instructions to contain information regarding the Depository account to be credited with such increase, 
 then the Trustee shall cancel such
Definitive Security and cause, or direct the Securities Custodian to cause, in accordance with the standing instructions and procedures existing between the Depository and the Securities Custodian, the aggregate principal amount of Securities
represented by the Rule 144A Global Security, IAI Global Security or Regulation S Global Security, as applicable, to be increased by the aggregate principal amount of the Definitive Security to be exchanged and shall credit or cause to be credited
to the account of the Person specified in such instructions a beneficial interest in the Rule 144A Global Security, IAI Global Security or Regulation S Global Security, as applicable, equal to the principal amount of the Definitive Security so
canceled. If no Rule 144A Global Securities, IAI Global Securities or Regulation S Global Securities, as applicable, are then outstanding, the Company shall issue and the Trustee shall authenticate, upon written order of the Company in the form of
an Officers’ Certificate of the Company, a new Rule 144A Global Security, IAI Global Security or Regulation S Global Security, as applicable, in the appropriate principal amount. 

  
 5 

 (c) Transfer and Exchange of Global Securities. 

(i) The transfer and exchange of Global Securities or beneficial interests therein shall be effected through the
Depository, in accordance with this Indenture (including applicable restrictions on transfer set forth herein, if any) and the procedures of the Depository therefor. A transferor of a beneficial interest in a Global Security shall deliver to the
Registrar a written order given in accordance with the Depository’s procedures containing information regarding the participant account of the Depository to be credited with a beneficial interest in the Global Security. The Registrar shall, in
accordance with such instructions instruct the Depository to credit to the account of the Person specified in such instructions a beneficial interest in the Global Security and to debit the account of the Person making the transfer the beneficial
interest in the Global Security being transferred. 
 (ii) If the proposed transfer is a transfer of a beneficial
interest in one Global Security to a beneficial interest in another Global Security, the Registrar shall reflect on its books and records the date and an increase in the principal amount of the Global Security to which such interest is being
transferred in an amount equal to the principal amount of the interest to be so transferred, and the Registrar shall reflect on its books and records the date and a corresponding decrease in the principal amount of the Global Security from which
such interest is being transferred. 
 (iii) Notwithstanding any other provisions of this Appendix (other than
the provisions set forth in Section 2.4), a Global Security may not be transferred as a whole except by the Depository to a nominee of the Depository or by a nominee of the Depository to the Depository or another nominee of the Depository or by
the Depository or any such nominee to a successor Depository or a nominee of such successor Depository. 
 (iv)
In the event that a beneficial interest in a Global Security is exchanged for Definitive Securities pursuant to Section 2.4, such Securities may be exchanged only in accordance with such procedures as are substantially consistent with the
provisions of this Section 2.3 (including the certification requirements set forth on the reverse of the Securities intended to ensure that such transfers comply with Rule 144A, Regulation S or another applicable exemption under the Securities
Act, as the case may be) and such other procedures as may from time to time be adopted by the Company. 
 (d) Legend.

 (i) Except as permitted by the following paragraph (ii), each Security certificate evidencing the Global
Securities (and all Securities issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form: 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER

  
 6 

 
JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH
REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. 
 THE HOLDER OF
THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION
TERMINATION DATE”) THAT IS IN THE CASE OF RULE 144A NOTES: ONE YEAR (OR SUCH SHORTER PERIOD THEN REQUIRED UNDER RULE 144 OR ITS SUCCESSOR RULE) OR IN THE CASE OF REGULATION S NOTES: 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND
THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER
THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE
SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE
UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT OR (E) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR
TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER
THE RESALE RESTRICTION TERMINATION DATE. 
 IN THE CASE OF REGULATION S NOTES: BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF
REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A 

  
 7 

 
U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT. 

Each Definitive Security shall also bear the following additional legend: 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS
SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 
 (ii) Upon any sale or transfer of a Transfer Restricted Security (including any Transfer Restricted Security represented by a Global Security) pursuant to Rule 144 under the Securities Act, the Registrar
shall permit the transferee thereof to exchange such Transfer Restricted Security for a Definitive Security that does not bear the legend set forth above and rescind any restriction on the transfer of such Transfer Restricted Security, if the
transferor thereof certifies in writing to the Registrar that such sale or transfer was made in reliance on Rule 144 (such certification to be in the form set forth on the reverse of the Security). 

(e) Cancellation or Adjustment of Global Security. At such time as all beneficial interests in a Global Security have either been
exchanged for Definitive Securities, redeemed, purchased or canceled, such Global Security shall be returned to the Depository for cancellation or retained and canceled by the Trustee. At any time prior to such cancellation, if any beneficial
interest in a Global Security is exchanged for Definitive Securities, redeemed, purchased or canceled, the principal amount of Securities represented by such Global Security shall be reduced and an adjustment shall be made on the books and records
of the Trustee (if it is then the Securities Custodian for such Global Security) with respect to such Global Security, by the Trustee or the Securities Custodian, to reflect such reduction. 

(f) No Obligation of the Trustee. 
 (i) The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Security, a member of, or a participant in the Depository or other Person with respect to the accuracy of the
records of the Depository or its nominee or of any participant or member thereof, with respect to any ownership interest in the Securities or with respect to the delivery to any participant, member, beneficial owner or other Person (other than the
Depository) of any notice (including any notice of redemption) or the payment of any amount, under or with respect to such Securities. All notices and communications to be given to the holders and all payments to be made to holders under the
Securities shall be given or made only to or upon the order of the registered holders (which shall be the Depository or its nominee in the case of a Global Security). The rights of beneficial owners in any Global Security shall be exercised only
through 

  
 8 

 
the Depository subject to the applicable rules and procedures of the Depository. The Trustee may conclusively rely and shall be fully protected in conclusively relying upon information furnished
by the Depository with respect to its members, participants and any beneficial owners. 
 (ii) The Trustee shall
have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers
between or among Depository participants, members or beneficial owners in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly
required by, the terms of this Indenture, and to examine the same to determine substantial compliance as to form with the express requirements hereof. 
 2.4 Definitive Securities. 
 (a) A Global Security deposited with the
Depository or with the Trustee as Securities Custodian for the Depository pursuant to Section 2.1 shall be transferred to the beneficial owners thereof in the form of Definitive Securities in an aggregate principal amount equal to the principal
amount of such Global Security, in exchange for such Global Security, only if such transfer complies with Section 2.3 hereof and (i) the Depository notifies the Company that it is unwilling or unable to continue as Depository for such
Global Security and the Depository fails to appoint a successor depository or if at any time such Depository ceases to be a “clearing agency” registered under the Exchange Act and, in either case, a successor depository is not appointed by
the Company within 90 days of such notice, (ii) an Event of Default has occurred and is continuing or (iii) the Company, in its sole discretion, notifies the Trustee in writing that it elects to cause the issuance of Definitive
Securities under this Indenture. 
 (b) Any Global Security that is transferable to the beneficial owners thereof pursuant to
this Section 2.4 shall be surrendered by the Depository to the Trustee at its designated corporate trust office, to be so transferred, in whole or from time to time in part, without charge, and the Trustee shall authenticate and deliver, upon
such transfer of each portion of such Global Security, an equal aggregate principal amount of Definitive Securities of authorized denominations. Any portion of a Global Security transferred pursuant to this Section 2.4 shall be executed,
authenticated and delivered only in denominations of $1,000 principal amount (subject to the $2,000 minimum denomination) and any integral multiple thereof and registered in such names as the Depository shall direct. Any Definitive Security
delivered in exchange for an interest in a Global Security shall, except as otherwise provided by Section 2.3(e) hereof, bear the applicable restricted securities legend and Definitive Securities legend set forth in Exhibit 1 hereto.

 (c) Subject to the provisions of Section 2.4(b) hereof, the registered holder of a Global Security shall be entitled to
grant proxies and otherwise authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action which a holder is entitled to take under this Indenture or the Securities. 

  
 9 

 (d) In the event of the occurrence of one of the events specified in Section 2.4(a)
hereof, the Company shall promptly make available to the Trustee a reasonable supply of Definitive Securities in definitive, fully registered form without interest coupons. In the event that such Definitive Securities are not issued, the Company
expressly acknowledges, with respect to the right of any holder to pursue a remedy pursuant to Article 6 of the Indenture, the right of any beneficial owner of Securities to pursue such remedy with respect to the portion of the Global Security that
represents such beneficial owner’s Securities as if such Definitive Securities had been issued. 

  
 10 

 EXHIBIT 1 
 to 
 RULE 144A/REGULATION S APPENDIX 

[FORM OF FACE OF SECURITY] 
 [Global Securities Legend] 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS
GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 
 [[FOR REGULATION S GLOBAL SECURITY ONLY] UNTIL 40 DAYS AFTER THE LATER OF COMMENCEMENT OR COMPLETION OF THE OFFERING, AN OFFER OR SALE OF SECURITIES WITHIN THE UNITED STATES BY A DEALER (AS DEFINED IN THE
SECURITIES ACT) MAY VIOLATE THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT IF SUCH OFFER OR SALE IS MADE OTHERWISE THAN IN ACCORDANCE WITH RULE 144A THEREUNDER.] 
 [Restricted Securities Legend] 
 THIS OFFER AND SALE OF THIS SECURITY HAS NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED
OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION. 
 THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES, ON ITS OWN BEHALF AND ON NOTE OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, NOT TO OFFER, SELL OR OTHERWISE

 
TRANSFER THIS SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS IN THE CASE OF RULE 144A SECURITIES: ONE YEAR (OR SUCH SHORTER PERIOD THAT MAY HEREAFTER BE
PROVIDED UNDER RULE 144 OR ITS SUCCESSOR RULE AS PERMITTING RESALES BY NON-AFFILIATES OF RESTRICTED SECURITIES WITHOUT RESTRICTION); OR IN THE CASE OF REGULATION S NOTES: 40 DAYS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON
WHICH HARVEST NATURAL RESOURCES, INC. (THE “ISSUER”) OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), EXCEPT (A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS
BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (AS
DEFINED IN RULE 144A) THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S.
PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE
SECURITIES ACT THAT IS PURCHASING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL “ACCREDITED INVESTOR,” FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY
DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR
TRANSFER PURSUANT TO THIS CLAUSE (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATIONS AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND IN EACH OF THE FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON
THIS SECURITY IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 

THIS NOTE HAS BEEN ISSUED WITH ORIGINAL ISSUE DISCOUNT (“OID”) FOR PURPOSES OF SECTIONS 1271 ET. SEQ. OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED. FOR INFORMATION REGARDING THE ISSUE DATE, ISSUE PRICE, AMOUNT OF OID PER $1,000 OF PRINCIPAL AMOUNT AND YIELD TO MATURITY FOR PURPOSES OF THE OID RULES, PLEASE CONTACT THE CHIEF FINANCIAL OFFICER OF THE COMPANY AT 1177
ENCLAVE PARKWAY, SUITE 300, HOUSTON, TEXAS 77007, FAX: (281) 899-5702. 
 IN THE CASE OF REGULATION S NOTES: BY ITS
ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION

  
 2 

 
S UNDER THE SECURITIES ACT. AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION,” “UNITED STATES” AND “UNITED STATES PERSON” HAVE THE MEANINGS GIVEN TO THEM BY
REGULATION S UNDER THE SECURITIES ACT. 
 [Definitive Securities Legend] 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS
SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

  
 3 

 CUSIP
[                    ] 
 ISIN [                   ]1 
  

			
	No.             	 	$        

 11.0% Senior Notes Due 2014 
 Harvest Natural Resources, Inc., a Delaware corporation, promises to pay to Cede & Co., or registered assigns, the principal sum of $[—] [(as
such sum may be increased or decreased as reflected on the Schedule of Increases or Decreases in Global Note attached hereto)] on October 11, 2014. 
 Interest Payment Dates: January 1, April 1, July 1 and October 1; commencing January 1, 2013. 
 Record Dates: December 15, March 15, June 15 and September 15 
 Additional provisions of this Security are set forth on the other side of this Security. 
  

 

	1 	 144A CUSIP: 41754V AD5 

144A ISIN: US41754VAD55 
 Regulation S CUSIP:
U24690 AB2 
 Regulation S ISIN: USU24690AB21 
 IAI CUSIP: 41754V AE3 
 IAI ISIN: US41754VAE39 

  
 4 

 IN WITNESS WHEREOF, Harvest Natural Resources, Inc. has caused this instrument to be duly
executed. 
 Dated: October 11, 2012 
  

			
	HARVEST NATURAL RESOURCES, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 5 

			
	 TRUSTEE’S CERTIFICATE OF
 AUTHENTICATION

	
	 U.S. BANK NATIONAL ASSOCIATION,

as Trustee, certifies that this is one of the Securities

referred to in the Indenture.

		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Dated: October [—], 2012 

  
 6 

 [FORM OF REVERSE SIDE OF SECURITY] 

11.0% Senior Notes Due 2014 
 1.
Interest 
 Harvest Natural Resources, Inc., a Delaware corporation (the “Company”) and its successors and
assigns under the Indenture hereinafter referred to, promises to pay interest on the principal amount of this Security at the rate per annum shown above; provided that upon the occurrence and during the continuation of an Event of Default, the
Company shall pay interest on the principal amount of this Security at the rate per annum equal to the rate per annum shown above plus two percentage points (2%). The Company shall pay interest quarterly on January
1, April 1, July 1 and October 1 of each year, commencing January 1, 2013. Interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from
October 11, 2012. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. 
 2. Method of
Payment 
 The Company shall pay interest on the Securities (except defaulted interest) to the Persons who are registered
holders of Securities at the close of business on the December 15, March 15, June 15 and September 15 next preceding the interest payment date even if Securities are canceled after the record date and on or before the
interest payment date. Holders must surrender Securities to a Paying Agent to collect principal payments. The Company shall pay principal and interest in money of the United States that at the time of payment is legal tender for payment of public
and private debts. Payments in respect of the Securities represented by a Global Security (including principal, premium and interest) will be made by wire transfer of immediately available funds to the accounts specified by the Depository. The
Company shall make all payments in respect of a certificated Security (including principal, premium and interest) by mailing a check to the registered address of each holder thereof; provided, however, that payments on a certificated Security
will be made by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such holder elects payment by wire transfer by giving written notice to the Trustee or the Paying Agent to such effect designating
such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). 
 3. Paying Agent and Registrar 
 Initially, U.S. Bank National Association
(the “Trustee”), will act as Paying Agent and Registrar. The Company may appoint and change any Paying Agent, Registrar or co-registrar without notice. The Company or any of its domestically incorporated Subsidiaries may act as Paying
Agent, Registrar or co-registrar. 
 4. Indenture 
 The Company issued the Securities under an Indenture dated as of October 11, 2012 (the “Indenture”), between the Company and the Trustee. The terms of the Securities include those stated in
the Indenture and those made part of the Indenture by reference to the 

  
 7 

 
Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbbb) (the “Act”). Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in
the Indenture. The Securities are subject to all such terms, and Securityholders are referred to the Indenture and the Act for a statement of those terms. 
 The Securities are senior unsecured obligations of the Company. The Securities will be treated as a single class for all purposes under the Indenture. 

5. Optional Redemption 

Except as set forth below, the Company shall not be entitled to redeem the Securities. 

The Company shall be entitled at its option at any time or from time to time to redeem all or a portion of the Securities, upon not less
than 30 nor more than 60 days’ notice, at the redemption prices (expressed in percentages of principal amount on the redemption date), plus accrued and unpaid interest on the Securities, if any, to the applicable redemption date (subject
to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the periods set forth below: 

 

					
	 Period
	  	Redemption
Price	 
	 October 11, 2012 to April 11, 2013
	  	 	105.500	% 
	 April 12, 2013 to October 12, 2013
	  	 	103.000	% 
	 October 13, 2013 and thereafter
	  	 	100.000	% 

 If the optional redemption date is on or after an interest record date and on or before the related
interest payment date, the accrued and unpaid interest on the Securities, if any, will be paid to the Person in whose name the Security is registered at the close of business on such record date, and no additional interest will be payable to holders
whose Securities will be subject to redemption by the Company. 
 The Company shall cause notice of such redemption to be mailed
by first-class mail to the registered address of each holder of Securities to be redeemed not less than 30 nor more than 60 days prior to the redemption date, except that redemption notices issued in connection with a satisfaction or discharge of
the Indenture may be mailed more than 60 days prior to the redemption date. 
 6. Mandatory Redemption 

The Company shall not be required to make mandatory redemption or sinking fund payments with respect to the Securities. 

  
 8 

 7. Notice of Redemption 
 Notice of redemption will be mailed at least 30 days but not more than 60 days before the redemption date to each holder of Securities to be redeemed at his registered address. Securities in denominations
larger than $2,000 principal amount may be redeemed in part but only in whole multiples of $1,000. If money sufficient to pay the redemption price of and accrued interest on all Securities (or portions thereof) to be redeemed on the redemption date
is deposited with the Paying Agent on or before the redemption date and certain other conditions are satisfied, on and after such date interest ceases to accrue on such Securities (or such portions thereof) called for redemption. 

8. Repurchase Obligations 

Upon a Change of Control or Total Asset Sale, any holder of Securities will have the right to require the Company to repurchase all or any
part of the Securities of such holder at a repurchase price equal to 101% (in the case of a Change of Control) or 105.5% (in the case of a Total Asset Sale) of the principal amount of the Securities to be repurchased plus accrued interest to the
date of repurchase (subject to the right of holders of record on the relevant record date to receive interest due on the related interest payment date) as provided in, and subject to the terms of, the Indenture. If a Change of Control and Total
Asset Sale are both deemed to have occurred, the provisions applicable to a Total Asset Sale shall control and the applicable purchase price in the preceding sentence shall be 105.5% of the principal amount of the Securities plus accrued and unpaid
interest, if any, to the date of purchase (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date. 
 If Restricted Proceeds from Asset Sales (excluding Total Assets Sales) exceed $5,000,000, the Company shall make a Restricted Proceeds Offer to the holders of the Securities to purchase the maximum
principal amount of Securities that may be purchased out of the Restricted Proceeds at a price in cash in an amount equal to 105.5% of the principal amount of the Securities plus accrued and unpaid interest to the date of the purchase in accordance
with the terms of the Indenture. Notwithstanding Section 5 of this Security and irrespective of the date of prepayment, if Restricted proceeds from Asset Sales (excluding Total Asset Sales) exceed $5,000,000, the company shall make a Restricted
Proceeds Offer to the holders of the Securities to purchase the maximum principal amount of Securities that may be purchased out of the Restricted Proceeds at a price in cash in an amount equal to 105.5% of the principal amount of the Securities
plus accrued and unpaid interest to the date of the purchase in accordance with the terms of the Indenture. 
 9. Guarantee 

The payment by the Company of the principal of, and premium and interest on, the Securities and other obligations under the Indenture will
be fully and unconditionally guaranteed on a joint and several subordinated basis by each of the Subsidiary Guarantors to the extent set forth in the Indenture. 

  
 9 

 10. Denominations; Transfer; Exchange 

The Securities are in registered form without coupons in denominations of $2,000 principal amount and integral multiples of $1,000 in
excess thereof. A holder may transfer or exchange Securities in accordance with the Indenture. The Registrar may require a holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes and fees required
by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the Security not to be redeemed) or
any Securities for a period of 15 days before the mailing of a notice of redemption of Securities to be redeemed. 
 11. Persons Deemed
Owners 
 The registered holder of this Security may be treated as the owner of it for all purposes. 

12. Unclaimed Money 
 If
money for the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Company at its request unless an abandoned property law designates another Person. After any such payment,
holders entitled to the money must look only to the Company and not to the Trustee for payment. 
 13. Amendment, Waiver 

Subject to certain exceptions set forth in the Indenture, (a) the Indenture and the Securities may be amended with the written
consent of the holders of at least a majority in principal amount outstanding of the Securities and (b) any default or noncompliance with any provision may be waived with the written consent of the holders of a majority in principal amount
outstanding of the Securities. Subject to certain exceptions set forth in the Indenture, without the consent of any holder of Securities, the Company, the Subsidiary Guarantors and the Trustee shall be entitled to amend the Indenture and the
Securities to cure any ambiguity, omission, defect or inconsistency, or to comply with Article 5 of the Indenture, or to provide for uncertificated Securities in addition to or in place of certificated Securities, or to add guarantees with
respect to the Securities, or to secure the Securities, or to add additional covenants or surrender rights and powers conferred on the Company or the Subsidiary Guarantors, or to make any change that does not adversely affect the rights of any
holder of Securities, or to comply with any requirements of the SEC in connection with the Trust Indenture Act, or to comply with the rules of any applicable securities depository, or to provide for the issuance of exchange securities, or to make
amendments to provisions of the Indenture relating to the transfer and legending of the Securities, or to release a Subsidiary Guarantor from its obligations under its Subsidiary Guarantee or the Indenture in accordance with the applicable
provisions of the Indenture, or to evidence and provide for the acceptance of appointment by a successor trustee or facilitate the administration of the trusts by more than one trustee under the Indenture. 

  
 10 

 14. Defaults and Remedies 
 Under the Indenture, Events of Default include: (a) default for 30 days in payment of interest on the Securities; (b) default in payment of principal on the Securities at maturity, upon
redemption pursuant to paragraph 5 of the Securities, upon acceleration or otherwise, or failure by the Company to redeem or purchase Securities when required; (c) failure by the Company or any Subsidiary Guarantor to comply with other
agreements in the Indenture or the Securities, in certain cases subject to notice and lapse of time; (d) certain accelerations (including failure to pay within any grace period after final maturity) of other Indebtedness of the Company, any
Subsidiary Guarantor or any Significant Subsidiary if the amount accelerated (or so unpaid) exceeds $3.0 million; (e) certain events of bankruptcy or insolvency with respect to the Company, the Subsidiary Guarantors and the Significant
Subsidiaries; (f) certain judgments or decrees for the payment of money in excess of $3.0 million; and (g) certain defaults with respect to Subsidiary Guarantees. If an Event of Default occurs and is continuing, the Trustee or the
holders of at least 25% in principal amount of the Securities may declare all the Securities to be due and payable immediately. Certain events of bankruptcy or insolvency are Events of Default which will result in the Securities being due and
payable immediately upon the occurrence of such Events of Default. 
 Securityholders may not enforce the Indenture or the
Securities except as provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives indemnity or security satisfactory to it. Subject to certain limitations, holders of a majority in principal amount
of the Securities may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Securityholders notice of any continuing Default (except a Default in payment of principal or interest) if it determines that withholding
notice is not opposed to the interest of the holders. 
 15. Trustee Dealings with the Company 

Subject to certain limitations imposed by the Indenture, the Trustee under the Indenture, in its individual or any other capacity, may
become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Company or its Affiliates and may otherwise deal with the Company or its Affiliates with the same rights it would have if it were not
Trustee. 
 16. No Recourse Against Others 
 A director, officer, employee, incorporator or equityholder, as such, of the Company or any Subsidiary Guarantor shall not have any liability for any obligations of the Company under the Securities or the
Indenture or of any Subsidiary Guarantor under its Subsidiary Guarantee or the Indenture or for any claim based on, in respect of, or by reason of such obligations or their creation. By accepting a Security, each Securityholder shall waive and
release all such liability. The waiver and release shall be part of the consideration for the issue of the Securities. 

  
 11 

 17. Authentication 
 This Security shall not be valid until an authorized signatory of the Trustee (or an authenticating agent) manually signs the certificate of authentication on the other side of this Security. 

18. Abbreviations 

Customary abbreviations may be used in the name of a Securityholder or an assignee, such as TEN COM (=tenants in common), TEN ENT
(=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 
 19. CUSIP and ISIN Numbers 
 Pursuant to a recommendation promulgated by the
Committee on Uniform Security Identification Procedures, the Company has caused CUSIP and ISIN numbers to be printed on the Securities and have directed the Trustee to use CUSIP and ISIN numbers in notices of redemption as a convenience to
Securityholders. No representation is made as to the accuracy of such numbers either as printed on the Securities or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon.

 20. Governing Law. 
 THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 The Company shall furnish to any Securityholder upon written request and without charge to the Securityholder a copy of the Indenture which has in it the text of this Security in larger type. Requests may
be made to: 1177 Enclave Parkway, Suite 300, Houston, Texas 77077 (fax: 281-899-5702); Attention: General Counsel. 

  
 12 

  
 ASSIGNMENT FORM 
 To assign this Security, fill in the form below: 

I or we assign and transfer this Security to 
 (Print or type assignee’s name, address and zip code) 
 (Insert
assignee’s soc. sec. or tax I.D. No.) 
 and irrevocably
appoint                             agent to transfer this Security on the books of the Company. The
agent may substitute another to act for him. 
  

					
	  

			
	Date:                    	  	Your Signature:	 	  

	
	  

 Sign exactly as your name appears on the other side of this Security. 

In connection with any transfer of any of the Securities evidenced by this certificate occurring prior to the expiration of one year after the later of
the date of original issuance of such Securities and the last date, if any, on which such Securities were owned by the Company or any Affiliate of the Company, the undersigned confirms that such Securities are being transferred in accordance with
its terms: 
 CHECK ONE BOX BELOW 
  

							
	 ̈	 	to the Company; or
				
		 	(1)	 	 ̈	 	pursuant to an effective registration statement under the Securities Act of 1933; or
				
		 	(2)	 	 ̈	 	inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for
the account of a qualified institutional buyer to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or

  
 13 

							
		 	(3)	 	 ̈	 	outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act of 1933 in compliance with Rule 904 under the Securities Act of
1933; or
				
		 	(4)	 	 ̈	 	pursuant to the exemption from registration provided by Rule 144 under the Securities Act of 1933; or
				
		 	(5)	 	 ̈	 	to an institutional “accredited investor” (as defined in Rule 501(a)(1),(2),(3) or (7) under the Securities Act of 1933) that has furnished to the Trustee a signed letter
containing certain representations and agreements and, if required, an opinion of counsel.

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Securities evidenced
by this certificate in the name of any person other than the registered holder thereof; provided, however, that if box (4) of (5) is checked, the Trustee shall be entitled to require, prior to registering any such transfer of the
Securities, such legal opinions, certifications and other information as the Company has reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act of 1933. 
  

	
	  

	
	 Signature

  
 14 

 TO BE COMPLETED BY PURCHASER IF (2) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Security for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, and is aware that the sale to it is being made in reliance on
Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is
relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

					
	
Dated:                    
	  	  

			
		  	Notice:	  	 To be executed by
 an executive
officer

  
 15 

 [TO BE ATTACHED TO GLOBAL SECURITIES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY 
 The following increases or decreases in this Global Security have been made: 
  

									
	 Date of

Exchange
	  	Amount of decrease in
principal amount of this
Global Security	  	Amount of increase in
principal amount of this
Global Security	  	Principal amount of this
Global Security following
such decrease or increase	  	Signature of authorized
signatory of Trustee or
Securities Custodian

  
 16 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Company pursuant to Section 4.08 of the Indenture, check the
box:      ̈ 
 If you want to elect to have only part of this
Security purchased by the Company pursuant to Section 4.08 of the Indenture, state the amount in principal amount: $[—] 

 

					
	Dated:                        	  	Your Signature:	  	  

		  		  	(Sign exactly as your name appears on the other side of this Security.)

  

			
	Signature Guarantee:	  	  

		  	                (Signature must be guaranteed)

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements
of the Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to,
or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

  
 17 

 EXHIBIT A 

Form of 

Transferee Letter of Representation 
 [—] 
 Ladies and Gentlemen: 

This certificate is delivered to request a transfer of $[        ] principal amount of the 11.0%
Senior Notes due 2014 (the “Securities”) of Harvest Natural Resources, Inc. (the “Issuer”). 
 Upon
transfer, the Securities would be registered in the name of the new beneficial owner as follows: 
  

	
	Name:
                                         
           
	
	Address:
                                         
        
	
	Taxpayer ID Number:
                            

 The undersigned represents and warrants to you that: 

1. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities
Act of 1933, as amended (the “Securities Act”)), purchasing for our own account or for the account of such an institutional “accredited investor” at least $100,000 principal amount of the Securities, and we are acquiring the
Securities not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks
of our investment in the Securities, and we invest in or purchase securities similar to the Securities in the normal course of our business. We, and any accounts for which we are acting, are each able to bear the economic risk of our or its
investment. 
 2. We understand that the Securities have not been registered under the Securities Act and, unless so registered,
may not be sold except as permitted in the following sentence. We agree on our own behalf and on behalf of any investor account for which we are purchasing Securities to offer, sell or otherwise transfer such Securities prior to the date that is one
year after the later of the date of original issue and the last date on which the Company was or any affiliate of the Company was the owner of such Securities (or any predecessor thereto) (the “Resale Restriction Termination Date”) only
(i) to the Company, (ii) in the United States to a person whom the seller reasonably believes is a “qualified institutional buyer” in a transaction meeting the requirements of Rule 144A, (iii) to an institutional
“accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act that is an institutional accredited investor purchasing for its own account or for the account of an institutional
accredited investor, in each case in a minimum principal amount of the Securities of $100,000, (iv) outside the 

 
United States in a transaction complying with the provisions of Rule 904 under the Securities Act, (v) pursuant to an exemption from registration under the Securities Act provided by Rule
144 (if available) or (vi) pursuant to an effective registration statement under the Securities Act, in each of cases (i) through (vi) subject to any requirement of law that the disposition of our property or the property of such
investor account or accounts be at all times within our or their control and in compliance with any applicable state securities laws. The foregoing restrictions on resale will not apply subsequent to the Resale Restriction Termination Date. If any
resale or other transfer of the Securities is proposed to be made pursuant to clause (iii) above prior to the Resale Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this
letter to the Company and the Trustee, which shall provide, among other things, that the transferee is an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and
that it is acquiring such Securities for investment purposes and not for distribution in violation of the Securities Act. Each purchaser acknowledges that the Company and the Trustee reserve the right prior to the offer, sale or other transfer prior
to the Resale Restriction Termination Date of the Securities pursuant to clause (iii), (iv) or (v) above to require the delivery of an opinion of counsel, certifications or other information satisfactory to the Company and the
Trustee. 
  

	
	TRANSFEREE:
                                        
,
	
	 by:
                                

  
 A-2

 EXHIBIT B 

Form of Supplemental Indenture 
 to be Delivered by Subsequent Guarantors 
 SUPPLEMENTAL INDENTURE (this
“Supplemental Indenture”), dated as of             , 20    , among              (the
“Guaranteeing Subsidiary”), a subsidiary of Harvest Natural Resources, Inc. (or its permitted successor), a Delaware corporation (the “Company”), the Company, the other Subsidiary Guarantors (as defined in the
Indenture referred to herein) and U.S. Bank National Association, as trustee under the Indenture referred to below (the “Trustee”). 
 WITNESSETH 
 WHEREAS, the Company has heretofore executed and delivered to the
Trustee an indenture (the “Indenture”), dated as of October 11, 2012 providing for the issuance of 11.0% Senior Notes due 2014 (the “Notes”); 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a
supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Subsidiary
Guarantee”); and 
 WHEREAS, pursuant to Section 8.01 of the Indenture, the Trustee is authorized to execute and
deliver this Supplemental Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the holders of the Notes as follows: 

 

	 	1.	Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. 

 

	 	2.	Agreement to Guarantee. The Guaranteeing Subsidiary hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in
the Subsidiary Guarantee and in the Indenture including, but not limited to, Article 10 thereof. 

  

	 	3.	No Recourse Against Others. No past, present or future director, officer, employee, incorporator, stockholder, member, manager, partner or agent of the
Guaranteeing Subsidiary, as such, shall have any liability for any obligations of the Company or any Guaranteeing Subsidiary under the Notes, any Subsidiary Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. Such waiver may not
be effective to waive liabilities under the federal securities laws and it is the view of the SEC that such a waiver is against public policy. 

	 	4.	NEW YORK LAW TO GOVERN. THE LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE. 

 

	 	5.	Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent
the same agreement. 

  

	 	6.	Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction hereof. 

 

	 	7.	The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for
or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Subsidiary and the Company. 

 (Signature Page Follows) 

  
 B-2

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed and attested, all as of the date first above written. 
  

			
	[GUARANTEEING SUBSIDIARY]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	HARVEST NATURAL RESOURCES, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	[EXISTING GUARANTORS]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	  

	Name:	 	  

	Title:Exhibit 4.3

 Exhibit 4.3 

 
  
 HARVEST NATURAL RESOURCES, INC., 
 as Issuer 

and 

U.S. BANK NATIONAL ASSOCIATION 
 as Warrant Agent 
  

 
 WARRANT
AGREEMENT 
 Dated as of October 11, 2012 

Warrants to Purchase 
 Shares of Common Stock 
  

 
  

 

							
	 ARTICLE 1     DEFINITIONS
	  	 	1	  
	 Section 1.01.
	  	 Definitions
	  	 	1	  
	 Section 1.02.
	  	 Rules of Construction
	  	 	4	  
		
	ARTICLE 2     APPOINTMENT OF WARRANT AGENT	  	 	5	  
	 Section 2.01.
	  	 Appointment Of Warrant Agent
	  	 	5	  
		
	ARTICLE 3     THE WARRANTS	  	 	5	  
	 Section 3.01.
	  	 Form And Dating; Legends
	  	 	5	  
	 Section 3.02.
	  	 Execution and Countersignature
	  	 	6	  
	 Section 3.03.
	  	 Warrant Registrar And Countersignature Agent
	  	 	6	  
	 Section 3.04.
	  	 Replacement Warrants
	  	 	6	  
	 Section 3.05.
	  	 Outstanding Warrants
	  	 	7	  
	 Section 3.06.
	  	 Temporary Warrants
	  	 	7	  
	 Section 3.07.
	  	 Cancellation
	  	 	7	  
	 Section 3.08.
	  	 CUSIP Numbers
	  	 	8	  
	 Section 3.09.
	  	 Registration, Transfer And Exchange
	  	 	8	  
	 Section 3.10.
	  	 Restrictions On Transfer And Exchange
	  	 	10	  
		
	ARTICLE 4     SEPARATION OF WARRANTS; TERMS OF WARRANTS; EXERCISE OF WARRANTS	  	 	12	  
	 Section 4.01.
	  	 Terms Of Warrants; Exercise Of Warrants
	  	 	12	  
		
	ARTICLE 5     COVENANTS OF THE COMPANY	  	 	15	  
	 Section 5.01.
	  	 Maintenance Of Office Or Agency
	  	 	15	  
	 Section 5.02.
	  	 Payment Of Taxes
	  	 	15	  
	 Section 5.03.
	  	 Reports
	  	 	15	  
	 Section 5.04.
	  	 Reservation Of Warrant Shares
	  	 	16	  
	 Section 5.05.
	  	 Obtaining Stock Exchange Listings
	  	 	16	  
	 Section 5.06.
	  	 No Dilution or Impairment
	  	 	16	  
		
	ARTICLE 6     ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES ISSUABLE	  	 	17	  
	 Section 6.01.
	  	 Adjustment Of Exercise Price And Number Of Warrant Shares Issuable
	  	 	17	  
	 Section 6.02.
	  	 Fractional Interests
	  	 	24	  
	 Section 6.03.
	  	 Notices To Warrant Holders
	  	 	24	  
	 Section 6.04.
	  	 No Rights As Stockholders
	  	 	25	  
		
	ARTICLE 7     WARRANT AGENT	  	 	25	  
	 Section 7.01.
	  	 Warrant Agent
	  	 	25	  
	 Section 7.02.
	  	 Compensation; Indemnity
	  	 	27	  
	 Section 7.03.
	  	 Individual Rights Of Warrant Agent
	  	 	28	  
	 Section 7.04.
	  	 Replacement of Warrant Agent
	  	 	28	  
	 Section 7.05.
	  	 Successor Warrant Agent By Merger
	  	 	29	  
	 Section 7.06.
	  	 Eligibility
	  	 	29	  
	 Section 7.07.
	  	 Holder Lists
	  	 	29	  

  
 i 

							
	 ARTICLE 8     MISCELLANEOUS
	  	 	30	  
	 Section 8.01.
	  	 Warrant Holder Actions
	  	 	30	  
	 Section 8.02.
	  	 Notices
	  	 	30	  
	 Section 8.03.
	  	 Supplements And Amendments
	  	 	31	  
	 Section 8.04.
	  	 Governing Law
	  	 	33	  
	 Section 8.05.
	  	 No Adverse Interpretation of Other Agreements
	  	 	33	  
	 Section 8.06.
	  	 Successors
	  	 	33	  
	 Section 8.07.
	  	 Duplicate Originals
	  	 	33	  
	 Section 8.08.
	  	 Separability
	  	 	33	  
	 Section 8.09.
	  	 Table of Contents and Headings
	  	 	33	  
	 Section 8.10.
	  	 Benefits Of This Agreement
	  	 	33	  
	
	EXHIBITS	  

					
			
	 Exhibit A
	  	Form of Warrant	  	
	 Exhibit B
	  	Restricted Legend	  	
	 Exhibit C
	  	DTC Legend	  	
	 Exhibit D
	  	Regulation S Certificate	  	
	 Exhibit E
	  	Rule 144A Certificate	  	
	 Exhibit F
	  	Accredited Investor Certificate	  	

  
 ii 

 WARRANT AGREEMENT, dated as of October 11, 2012, between Harvest Natural Resources,
Inc., a Delaware corporation (as further defined below, the “Company”), and U.S. Bank National Association, as warrant agent (the “Warrant Agent”). 

WHEREAS, the Company proposes to issue warrants (the “Warrants”) to initially purchase up to an aggregate of 688,913
shares of Common Stock, in connection with the offering by the Company of Securities (the “Securities”), consisting of the Warrants and up to $80,000,000 aggregate principal amount of the Company’s 11.0% Senior Notes due 2014
(the “Notes”), pursuant to the Securities Purchase Agreement (as defined below). 
 WHEREAS, the Company
desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing so to act in connection with the issuance of the Warrants and other matters as provided herein. 

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

 ARTICLE 1 
 DEFINITIONS 
 Section 1.01. Definitions. As used in
this Agreement, the following terms shall have the following respective meanings: 
 “A.I. Global Warrant”
means a Global Warrant that bears the Restricted Legend representing Warrants resold to Accredited Investors within the meaning of Rule 501 of Regulation D under the Securities Act. 

“Accredited Investor” has the meaning given such term in Rule 501 under the Securities Act. 

“Accredited Investor Certificate” means a certificate substantially in the form of Exhibit F hereto. 

“act” has the meaning assigned to such term in Section 8.01(a). 

“Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by, or
under direct or indirect common control with, such Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control
with”) with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or
otherwise. 
 “Agent” means any Registrar or Countersignature Agent. 

“Agent Member” means a member of, or a participant in, the Depositary. 

 “Agreement” means this Warrant Agreement, as amended or supplemented from
time to time. 
 “Board of Directors” means the board of directors or comparable governing body of the Company,
or any committee thereof duly authorized to act on its behalf. 
 “Board Resolution” means a resolution duly
adopted by the Board of Directors that is certified by the Secretary or an Assistant Secretary of the Company and remains in full force and effect as of the date of its certification. 

“Business Day” means any day other than a Legal Holiday. 

“Certificated Warrant” means a Warrant in registered individual form. 

“Commission” means the Securities and Exchange Commission. 

“Common Stock” means the common stock, par value $0.01 per share of the Company. 

“Company” means the party named as such in the first paragraph of the Agreement or any successor to the Company under
this Agreement and the Warrants pursuant to Section 6.01(j). 
 “Corporate Trust Office” means the office
of the Warrant Agent at which the corporate trust business of the Warrant Agent is principally administered, which at the Issue Date is located at 5555 San Felipe, Suite 1150, Houston, Texas 77056. 

“Countersignature Agent” refers to a Person engaged to countersign the Warrants in the stead of the Warrant Agent.

 “Daily Price” means, for any determination date, the closing price of a security on such day as reported by
the principal national securities exchange on which such security is listed and traded. If on any determination date the shares of Common Stock are not quoted by any such organization, the Daily Price per share of Common Stock shall be, at the
Company’s election, the fair market value of the Common Stock determined in good faith by (a) a majority of the Board of Directors and approved in a Board Resolution delivered to the Warrant Agent or (b) a nationally recognized
investment banking appraisal or valuation firm that is not an Affiliate of the Company. 
 “Depositary” means
the depositary of each Global Warrant, which will initially be DTC. 
 “DTC” means The Depository Trust
Company, a New York corporation, and its successors. 
 “DTC Legend” means the legend set forth in Exhibit
C. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Exercise Price” has the meaning assigned to such term in Section 4.01(b). 

  
 2 

 “Expiration Date” has the meaning assigned to such term in
Section 4.01(a). 
 “GAAP” means generally accepted accounting principles in the United States, including
those set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants, the opinions and pronouncements of the Public Company Accounting Oversight Board and in the statements
and pronouncements of the Financial Accounting Standards Board, as in effect from time to time. 
 “Global
Warrant” means a Warrant in registered global form. 
 “Holder” or “Warrant Holder”
means the registered holder of any Warrant. 
 “Issue Date” means the date on which the Warrants are originally
issued under this Agreement. 
 “Legal Holiday” means a Saturday, a Sunday or a day on which banking
institutions in The City of New York or at a place of payment are authorized or required by law, regulation or executive order to remain closed. 
 “Non-U.S. Person” means a Person that is not a U.S. person, as defined in Regulation S. 
 “Officer” means with respect to any Person, the Chairman of the Board of Directors, the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer,
the Treasurer, any Assistant Treasurer, the Controller, the Secretary, any Assistant Secretary or any Vice President of such Person. 
 “Officers’ Certificate” means a certificate signed in the name of the Company (i) by the Chairman of the Board of Directors, the President or Chief Executive Officer or a Vice
President of the Company and (ii) by the Chief Financial Officer, the Treasurer or any Assistant Treasurer or the Secretary or any Assistant Secretary of the Company. 
 “Opinion of Counsel” means a written opinion from legal counsel who is reasonably acceptable to the Warrant Agent (who may be counsel to the Company). 

“Person” means any individual, corporation, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization, limited liability company or government or other entity. 
 “Register” has the
meaning assigned to such term in Section 3.09. 
 “Registrar” means a Person engaged to maintain the
Register. 
 “Regulation S” means Regulation S under the Securities Act. 

“Regulation S Certificate” means a certificate substantially in the form of Exhibit D hereto. 

  
 3 

 “Regulation S Global Warrant” means a Global Warrant that bears the
Restricted Legend representing Warrants resold to Non-U.S. Persons within the meaning of Regulation S. 
 “Restricted
Legend” means the legend set forth in Exhibit B. 
 “Rule 144” means Rule 144 under the
Securities Act. 
 “Rule 144A” means Rule 144A under the Securities Act. 

“Rule 144A Certificate” means a certificate substantially in the form of Exhibit E hereto. 

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

“Securities Purchase Agreement” means the Securities Purchase Agreement dated as of October 11, 2012 by and among
the Company and the purchasers named therein. 
 “Transfer Agent” has the meaning assigned to such term in
Section 5.04. 
 “U.S. Global Warrant” means a Global Warrant that bears the Restricted Legend
representing Warrants issued and sold pursuant to Rule 144A. 
 “Warrant Agent” means the party named as such
in the first paragraph of this Agreement or any successor warrant agent under this Agreement pursuant to Article 7. 

“Warrant Shares” means the Common Stock issuable on exercise of the Warrants. 

“Warrants” has the meaning assigned to such term in the Recitals. 

Section 1.02. Rules of Construction. Unless the context otherwise requires or except as otherwise expressly provided:

 (i) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP;

 (ii) “herein,” “hereof” and other words of similar import refer to this Agreement as a
whole and not to any particular Section, Article or other subdivision; 
 (iii) all references to Sections or
Articles or Exhibits refer to Sections or Articles or Exhibits of or to this Agreement unless otherwise indicated; and 
 (iv) references to agreements or instruments, or to statutes or regulations, are to such agreements or instruments, or statutes or regulations, as amended from time to time (or to successor statutes and
regulations). 

  
 4 

 ARTICLE 2 
 APPOINTMENT OF WARRANT AGENT 
 Section 2.01. Appointment Of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the instructions set forth in this Agreement and
the Warrant Agent hereby accepts such appointment. 
 ARTICLE 3 

THE WARRANTS 
 Section 3.01. Form And Dating; Legends. (a) The Warrants will be substantially in the form attached as Exhibit A. The terms and provisions contained in the form of the Warrants
annexed as Exhibit A constitute, and are hereby expressly made, a part of this Agreement. The Warrants may have notations, legends or endorsements required by law, rules of or agreements with national securities exchanges to which the Company
is subject, or usage. Each Warrant will be dated the date of its countersignature. 
 (b) (i) Except as otherwise provided in
Section 3.01(c), Section 3.09(b)(iv) or Section 3.10(c), each Warrant will bear the Restricted Legend. 
 (ii) Each Global Warrant will bear the DTC Legend. 
 (iii) Warrants
sold by the Company in reliance on Rule 144A will initially be issued in the form of a U.S. Global Warrant. Warrants sold by the Company in reliance on Regulation S will initially be issued in the form of a Regulation S Global Warrant. Warrants sold
by the Company to Accredited Investors pursuant to the exemption from registration afforded by Section 4(a)(2) of the Securities Act will initially be issued in the form of an A.I. Global Warrant. 

(c) (i) If the Company determines (upon the advice of counsel and such other certifications and evidence as the Company may reasonably
require) that a Warrant is eligible for resale pursuant to Rule 144 under the Securities Act (or a successor provision) without the need to satisfy current information or other requirements therein and that the Restricted Legend is no longer
necessary or appropriate in order to ensure that subsequent transfers of the Warrant (or a beneficial interest therein) are effected in compliance with the Securities Act, or 

(ii) after a Warrant is sold pursuant to an effective registration statement under the Securities Act, 

the Company may instruct the Warrant Agent in writing to cancel the Warrant and issue to the Holder thereof (or to its transferee) a new Warrant of like
tenor, registered in the name of the Holder thereof (or its transferee), that does not bear the Restricted Legend, and the Warrant Agent will comply with such instruction. 
 (d) By its acceptance of any Warrant bearing the Restricted Legend (or any beneficial interest in such a Warrant), each Holder thereof and each owner of a beneficial interest therein acknowledges the
restrictions on transfer of such Warrant (and any such beneficial interest) set forth in this Agreement and in the Restricted Legend and agrees that it will transfer such Warrant (and any such beneficial interest) only in accordance with this
Agreement and such legend. 

  
 5 

 Section 3.02. Execution and Countersignature. (a) An Officer of the Company
shall execute the Warrants for the Company by facsimile or manual signature in the name and on behalf of the Company. If an Officer of the Company whose signature is on a Warrant no longer holds that office at the time the Warrant is countersigned,
the Warrant will still be valid. 
 (b) A Warrant will not be valid until the Warrant Agent manually countersigns the Warrant,
with the signature conclusive evidence that the Warrant has been countersigned under this Agreement. At any time and from time to time after the execution and delivery of this Agreement, the Company may deliver Warrants executed by the Company to
the Warrant Agent for countersignature. The Warrant Agent will countersign and deliver a number of Warrants for original issue convertible into an aggregate number of Warrant Shares not to exceed the amount stated in the preamble hereto (except as
may be adjusted pursuant to Article 6 hereof) after receipt by the Warrant Agent of an Officers’ Certificate specifying: 
 (i) the number of Warrants to be countersigned and the date on which the Warrants are to be countersigned; 
 (ii) whether the Warrants are to be issued as one or more Global Warrants or Certificated Warrants; and 
 (iii) other information the Company may determine to include or the Warrant Agent may reasonably request. 
 Section 3.03. Warrant Registrar And Countersignature Agent. The Company may appoint one or more Registrars, and the Warrant Agent may appoint a Countersignature Agent, in which case each
reference in this Agreement to the Warrant Agent in respect of the obligations of the Warrant Agent to be performed by that Agent will be deemed to be references to the Agent. The Company may act as Registrar. In each case the Company and the
Warrant Agent will enter into an appropriate agreement with the Agent implementing the provisions of this Agreement relating to the obligations of the Warrant Agent to be performed by the Agent and the related rights. The Company initially appoints
the Warrant Agent as Registrar. 
 Section 3.04. Replacement Warrants. If a mutilated Warrant is surrendered to the
Warrant Agent or if a Holder claims that its Warrant has been lost, destroyed or wrongfully taken, the Company will issue and the Warrant Agent will countersign a replacement Warrant. Every replacement Warrant is an additional obligation of the
Company and entitled to the benefits of this Agreement. If required by the Warrant Agent or the Company, an indemnity must be furnished by the Holder that is sufficient in the judgment of (i) the Warrant Agent to protect the Warrant Agent and
(ii) the Company to protect the Company and the Warrant Agent from any loss they may suffer if a Warrant is replaced. The Company may charge the Holder for the expenses of the Company and the Warrant Agent in replacing a Warrant. 

  
 6 

 Section 3.05. Outstanding Warrants. (a) Warrants outstanding at any time
are all Warrants that have been countersigned by the Warrant Agent except for: 
 (i) Warrants cancelled by the
Warrant Agent or delivered to it for cancellation; 
 (ii) Warrants exercised by the Holder thereof; and

 (iii) any Warrant that has been replaced pursuant to Section 3.04 unless and until the Warrant Agent and
the Company receive proof satisfactory to them that the replaced Warrant is held by a protected purchaser, in which case the replacement Warrant issued pursuant to Section 3.04 shall be automatically cancelled. 

(b) A Warrant does not cease to be outstanding because the Company or one of its Affiliates holds the Warrant, provided that in
determining whether the Holders of the requisite percentage of the outstanding Warrants have given or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder, Warrants owned by the Company or any
Affiliate of the Company will be disregarded and deemed not to be outstanding (it being understood that in determining whether the Warrant Agent is protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver
or other action, only Warrants that the Warrant Agent knows to be so owned will be so disregarded). Warrants so owned that have been pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Warrant
Agent the pledgee’s right so to act with respect to such Warrants and that the pledgee is not the Company or any Affiliate of the Company. 
 Section 3.06. Temporary Warrants. Until definitive Warrants are ready for delivery, the Company may prepare and execute and the Warrant Agent will countersign temporary Warrants. Temporary
Warrants will be substantially in the form of definitive Warrants but may have insertions, substitutions, omissions and other variations determined to be appropriate by the Officer of the Company executing the temporary Warrants, as evidenced by the
execution of the temporary Warrants with the approval of the Warrant Agent. If temporary Warrants are issued, the Company will cause definitive Warrants to be prepared without unreasonable delay. After the preparation of definitive Warrants, the
temporary Warrants will be exchangeable for definitive Warrants upon surrender of the temporary Warrants without charge to the Holder. Upon surrender for cancellation of any temporary Warrants, the Company will execute and the Warrant Agent will
countersign and deliver in exchange therefor a like amount of definitive Warrants. Until so exchanged, the temporary Warrants will be entitled to the same benefits under this Agreement as definitive Warrants. 

Section 3.07. Cancellation. The Company at any time may deliver to the Warrant Agent for cancellation any Warrants previously
countersigned and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Warrant Agent for cancellation any Warrants previously countersigned hereunder which the Company has not issued and sold. Any
Registrar will forward to the Warrant Agent any Warrants surrendered to it for transfer, exchange, exercise or cancellation. The Warrant Agent will cancel all Warrants surrendered for transfer, exchange, exercise or cancellation and dispose of them
in accordance with its normal procedures. Certification of the cancellation of all cancelled Warrants shall be delivered to the Company upon written request. The Company may not issue new Warrants to replace Warrants that have been exercised or
delivered to the Warrant Agent for cancellation. 

  
 7 

 Section 3.08. CUSIP Numbers. The Company in issuing the Warrants may use
“CUSIP” numbers, and the Warrant Agent will use CUSIP numbers in notices as a convenience to Holders, such notices to state that no representation is made as to the correctness of such numbers either as printed on the Warrants or as
contained in any notice to any Holder. The Company will promptly notify the Warrant Agent in writing of any change in the CUSIP numbers. 
 Section 3.09. Registration, Transfer And Exchange. (a) The Warrants will be issued in registered form only, and the Company shall cause the Warrant Agent to maintain a register (the
“Register”) of the Warrants, for registering the record ownership of the Warrants by the Holders and transfers and exchanges of the Warrants. 
 (b) (i) Each Global Warrant will be registered in the name of the Depositary or its nominee and, so long as DTC is serving as the Depositary thereof, will bear the DTC Legend. 

(ii) Each Global Warrant will be delivered to the Warrant Agent as custodian for the Depositary. Transfers of a Global
Warrant (but not a beneficial interest therein) will be limited to transfers thereof in whole, but not in part, to the Depositary, its successors or their respective nominees, except (1) as set forth in Section 3.09(b)(iv) and
(2) transfers of portions thereof in the form of Certificated Warrants may be made upon request of an Agent Member (for itself or on behalf of a beneficial owner) by written notice given to the Warrant Agent by or on behalf of the Depositary in
accordance with customary procedures of the Depositary and in compliance with this Section 3.09 and Section 3.10. 
 (iii) Agent Members will have no rights under this Agreement with respect to any Global Warrant held on their behalf by the Depositary, and the Depositary may be treated by the Company, the Warrant Agent
and any agent of the Company or the Warrant Agent as the absolute owner and Holder of such Global Warrant for all purposes whatsoever. Notwithstanding the foregoing, the Depositary or its nominee may grant proxies and otherwise authorize any Person
(including any Agent Member and any Person that holds a beneficial interest in a Global Warrant through an Agent Member) to take any action that a Holder is entitled to take under the Warrant or the Warrants, and nothing herein will impair, as
between the Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of a holder of any security. 
 (iv) If (1) the Depositary (a) notifies the Company that it is unwilling or unable to continue as Depositary for a Global Warrant or (y) has ceased to be a clearing agency registered under
the Exchange Act, and in each case a successor depositary is not appointed by the Company within 90 days of the notice; or (2) the Company, at its option, notifies the Warrant Agent in writing that it elects to cause the issuance of
Certificated Warrants, the Warrant Agent will promptly exchange each beneficial interest in the Global Warrant for one or more Certificated Warrants in authorized denominations having an equal aggregate principal amount registered in the name of the
owner of such beneficial interest, as identified to the Warrant Agent by the Depositary, and thereupon the Global Warrant will be deemed canceled. If such Global Warrant does not bear the 

  
 8 

 
Restricted Legend, then the Certificated Warrants issued in exchange therefor will not bear the Restricted Legend. Except as otherwise provided in Section 3.01(c), if such Global Warrant
bears the Restricted Legend, then the Certificated Warrants issued in exchange therefor will bear the Restricted Legend. 
 (c)
Each Certificated Warrant will be registered in the name of the Holder thereof or its nominee. 
 None of the Company, the
Warrant Agent or any other agent of the Company shall have any responsibility or liability for any aspect of the records on account of beneficial ownership interests of a Global Warrant, or for maintaining, supervising or reviewing any records
relating to such beneficial ownership interests. 
 From time to time the Company will execute and the Warrant Agent will
countersign additional Warrants as necessary in order to permit the registration of a transfer or exchange in accordance with this Section 3.09. All Warrants issued upon transfer or exchange shall be the duly authorized, executed and delivered
Warrants of the Company entitled to the benefits of this Agreement. 
 No service charge will be imposed in connection with any
transfer or exchange of any Warrant, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than a transfer tax or other similar governmental charge
payable upon exchange pursuant to Section 3.09(b)(iv)). 
 (d) (i) Global Warrant to Global Warrant. Subject to
compliance with Section 3.10(b), if a beneficial interest in a Global Warrant is transferred or exchanged for a beneficial interest in another Global Warrant, the Warrant Agent will (x) record a decrease in the amount of the Global Warrant
being transferred or exchanged equal to the amount of such transfer or exchange and (y) record a like increase in the amount of such other Global Warrant. Any beneficial interest in one Global Warrant that is transferred to a Person who takes
delivery in the form of an interest in another Global Warrant, or exchanged for an interest in another Global Warrant, will, upon transfer or exchange, cease to be an interest in such Global Warrant and become an interest in the other Global Warrant
and, accordingly, will thereafter be subject to all transfer and exchange restrictions, if any, and other procedures applicable to beneficial interests in such other Global Warrant for as long as it remains such an interest. 

(ii) Global Warrant to Certificated Warrant. Subject to compliance with Section 3.10(b), if a beneficial
interest in a Global Warrant is transferred or exchanged for a Certificated Warrant, the Warrant Agent will (x) record a decrease in the principal amount of such Global Warrant equal to the principal amount of such transfer or exchange and
(y) deliver a new Certificated Warrants to the transferee (in the case of a transfer) or the owner of such beneficial interest (in the case of an exchange), registered in the name of such transferee or owner, as applicable. 

(iii) Certificated Warrant to Global Warrant. Subject to compliance with Section 3.10(b), if a Certificated
Warrant is transferred or exchanged for a beneficial interest in a Global Warrant, the Warrant Agent will (x) cancel such Certificated Warrant, 

  
 9 

 
(y) record an increase in such Global Warrant equal to the number of Warrants being transferred or exchanged and (z) in the event that such transfer or exchange involves less than the entire
amount of the canceled Certificated Warrant, deliver to the Holder thereof one or more new Certificated Warrants having an aggregate number of Warrants equal to the untransferred or unexchanged portion of the canceled Certificated Warrant,
registered in the name of the Holder thereof. 
 (iv) Certificated Warrant to Certificated Warrant.
Subject to compliance with Section 3.10(b), if a Certificated Warrant is transferred or exchanged for another Certificated Warrant, the Warrant Agent will (x) cancel the Certificated Warrant being transferred or exchanged,
(y) deliver one or more new Certificated Warrants having an aggregate principal amount equal to the amount of Warrants being transferred or exchanged to the transferee (in the case of a transfer) or the Holder of the canceled Certificated
Warrant (in the case of an exchange), registered in the name of such transferee or Holder, as applicable, and (z) if such transfer or exchange involves less than the entire amount of the canceled Certificated Warrant, deliver to the Holder
thereof one or more Certificated Warrants having an aggregate amount of Warrants equal to the untransferred or unexchanged portion of the canceled Certificated Warrant, registered in the name of the Holder thereof. 

Section 3.10. Restrictions On Transfer And Exchange. (a) The transfer or exchange of any Warrant (or a beneficial
interest therein) may only be made in accordance with Section 3.09 and this Section 3.10 and, in the case of a Global Warrant (or a beneficial interest therein), the applicable rules and procedures of the Depositary. The Warrant Agent
shall refuse to register any requested transfer or exchange that does not comply with the preceding sentence. 
 (b) Subject to
Section 3.10(c), the transfer or exchange of any Warrant (or a beneficial interest therein) of the type set forth in column A below for a Warrant (or a beneficial interest therein) of the type set forth opposite in column B below may only be
made in compliance with the certification requirements (if any) described in the clause of this paragraph (b) set forth opposite in column C below. 
  

					
	                        A	  	                        B	  	C
			
	 U.S. Global Warrant
	  	U.S. Global Warrant	  	(i)
			
	 U.S. Global Warrant
	  	Regulation S Global Warrant	  	(iii)
			
	 U.S. Global Warrant
	  	A.I. Global Warrant	  	(iv)
			
	 Regulation S Global Warrant
	  	U.S. Global Warrant	  	(ii)
			
	 Regulation S Global Warrant
	  	Regulation S Global Warrant	  	(i)
			
	 Regulation S Global Warrant
	  	A.I. Global Warrant	  	(iv)
			
	 A.I. Global Warrant
	  	U.S. Global Warrant	  	(ii)
			
	 A.I. Global Warrant
	  	Regulation S Global Warrant	  	(iii)
			
	 A.I. Global Warrant
	  	A.I. Global Warrant	  	(iv)

  
 10 

 (i) No certification is required. 

(ii) The Person requesting the transfer or exchange must deliver or cause to be delivered to the Warrant Agent a duly
completed Rule 144A Certificate. 
 (iii) The Person requesting the transfer or exchange must deliver or cause to
be delivered to the Warrant Agent a duly completed Regulation S Certificate. 
 (iv) The Person requesting the
transfer or exchange must deliver or cause to be delivered to the Warrant Agent a duly completed Accredited Investor Certificate, and/or an Opinion of Counsel and such other certifications and evidence as the Company may reasonably require in order
to determine that the proposed transfer or exchange is being made in compliance with the Securities Act and any applicable securities laws of any state of the United States. 
 (c) No certification is required in connection with any transfer or exchange of any Warrant (or a beneficial interest therein): 

(i) after such Warrant is eligible for resale pursuant to Rule 144 under the Securities Act (or a successor provision)
without the need to satisfy current information or other requirements therein; provided that the Company has provided the Warrant Agent with an Officers’ Certificate to that effect, and the Company may require from any Person requesting
a transfer or exchange in reliance upon this clause (i) an opinion of counsel and any other reasonable certifications and evidence in order to support such certificate; or 

(ii) sold pursuant to an effective registration statement. 

Any Certificated Warrant delivered in reliance upon this paragraph will not bear the Restricted Legend. 

(d) The Warrant Agent will retain copies of all certificates, opinions and other documents received in connection with the transfer or
exchange of a Warrant (or a beneficial interest therein), and the Company will have the right to inspect and make copies thereof at any reasonable time upon written notice to the Warrant Agent. The Warrant Agent shall have no obligation or duty to
monitor, determine or inquire as to compliance with any restrictions on transfer imposed under the Warrants or this Agreement or under applicable law with respect to any transfer of any interest in any Warrant (including any transfers between or
among depositary participants or beneficial owners of interests in any Global Warrant) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required
by the terms of, this Agreement, and to examine the same to determine substantial compliance as to form with the express requirements hereof. Neither the Warrant Agent nor any agent or attorney of the Warrant Agent shall have any responsibility for
any actions taken or not taken by the Depository. 

  
 11 

 ARTICLE 4 
 Separation Of Warrants; Terms Of Warrants; Exercise Of Warrants 

Section 4.01. Terms Of Warrants; Exercise Of Warrants. (a) Each Warrant not exercised prior to 5:00 p.m., New York City
time, on October 11, 2015 (the “Expiration Date”) shall become void and all rights thereunder and all rights in respect thereof under this agreement shall cease as of such time. 

(b) Subject to the terms of this Agreement, the Warrants shall be exercisable, at the election of the Holders thereof, either in full or
from time to time in part during the period commencing at 9:00 a.m., New York City time, on the Business Day immediately following the day on which this Agreement is entered into and until 5:00 p.m., New York City time, on the Expiration Date, and
shall entitle any Holder thereof to receive from the Company the number of fully paid and nonassessable Warrant Shares that the Holder may at the time be entitled to receive on exercise of such Warrants and payment of the exercise price set forth in
the form of Warrant attached as Exhibit A hereto (as adjusted from time to time hereunder, the “Exercise Price”) in cash, by wire transfer or by certified or official check payable to the order of the Company, in each case,
equal to the Exercise Price then in effect for such Warrant Shares. 
 (c) Notwithstanding anything herein to the contrary (but
in all other respects in accordance with the exercise procedure set forth herein), a Holder may elect to convert Warrants into shares of Common Stock, in which event the Company will issue to the Holder the number of shares of Common Stock equal to
the result obtained by (i) subtracting B from A, (ii) dividing the result by A, and (iii) multiplying the quotient by C as set forth in the following equation: 

 
 

 
 where: 
  

			
	 X =
	  	the number of shares of Common Stock issuable upon exercise pursuant to this paragraph (c).
		
	 A =
	  	the Daily Price on the day immediately preceding the date on which the Holder delivers written notice to the Company pursuant to paragraph (d).
		
	 B =
	  	the Exercise Price.
		
	 C =
	  	the number of shares of Common Stock as to which the Warrants are then being exercised (prior to payment of the Exercise Price).

 If the foregoing calculation results in a negative number, then no shares of Common Stock shall be issued
upon exercise pursuant to this paragraph. 
 (d) In order to exercise all or any of the Warrants, the Holder thereof must
deliver to the Warrant Agent at its Corporate Trust Office (i) such Warrants, (ii) the form of election to purchase on the reverse thereof duly filled in and signed, and (iii) payment to the Warrant Agent

  
 12 

 
for the account of the Company of the then-current Exercise Price (in the manner set forth in paragraphs (b) or (c) above) for the number of Warrant Shares in respect of which the
Warrants are being exercised. 
 (e) Upon compliance with the provisions set forth above, the Warrant Agent shall deliver such
information and payment amount, if any, to the Company for verification and shall request in writing from the Company and the Company shall upon such verification deliver or cause to be delivered with all reasonable dispatch, to or upon the written
order of the Holder and in such name or names as the Holder may designate, a certificate or certificates for the number of whole Warrant Shares issuable upon the exercise of such Warrants or other securities or property to which such Holder is
entitled, together with cash in lieu of fractional shares as provided in Section 6.02 hereof. Such certificate or certificates or other securities or property shall be deemed to have been issued, and any person so designated to be named therein
shall be deemed to have become a Holder of record of such Warrant Shares or other securities or property, as of the date of the surrender of such Warrants and payment of the Exercise Price, notwithstanding that the stock transfer books of the
Company shall then be closed or the certificates or other securities or property have not been delivered. 
 (f) If less than
all the Warrants represented by a Warrant certificate are exercised, such Warrant certificate shall be surrendered and a new Warrant certificate of the same tenor and for the number of Warrants that were not exercised shall be executed by the
Company and delivered to the Warrant Agent and the Warrant Agent shall countersign the new Warrant certificate, registered in such name or names as may be directed in writing by the Holder, and shall deliver the new Warrant certificate to the Person
or Persons entitled to receive the same. 
 (g) All Warrant certificates surrendered upon exercise of Warrants shall be
cancelled by the Warrant Agent. Such cancelled Warrant certificates shall then be cancelled and disposed of by the Warrant Agent in accordance with its standard procedures. The Warrant Agent shall account promptly to the Company with respect to
Warrants exercised and concurrently pay to the Company all monies received by the Warrant Agent for the purchase of the Warrant Shares through the exercise of such Warrants. 
 (h) The Warrant Agent shall keep copies of this Agreement and any notices given or received hereunder available for inspection by the Holders during normal business hours at its office. The Company shall
supply the Warrant Agent from time to time with such numbers of copies of this Agreement as the Warrant Agent may request. 

(i) Certificates representing Warrant Shares shall bear a Restricted Legend (with all references to Warrants therein replaced by
references to Common Stock, and with such changes thereto as the Company may deem appropriate) if (i) the Warrants for which they were issued carried a Restricted Legend or (ii) the Warrant Shares are issued in a transaction exempt from
registration under the Securities Act (other than the exemption provided by Section 3(a)(9) of the Securities Act), in each case until and unless the circumstances set forth in Section 3.01(c) apply to such Shares, and any transfers
thereof shall comply with the Restricted Legend. 
 (j) A Holder may exercise all or part of any Warrant on a contingent basis
by including in the election to purchase on the reverse of the Warrant a specific statement that the 

  
 13 

 
exercise of the Warrant is to become effective only upon the occurrence of a specific event or circumstance, together with an undertaking to notify the Warrant Agent that the event or
circumstance has occurred. 
 (k) If Holder of a Warrant determines, in its sole judgment upon the advice of counsel, that an
exercise of its Warrant pursuant to the terms hereof would be subject to the provisions of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), the Company shall, within seven (7) business days after
receiving notice from such Holder of the applicability of the HSR Act, file with the United States Federal Trade Commission (the “FTC”) and the United States Department of Justice (the “DOJ”) the notification and report form and
any supplemental information required to be filed by it pursuant to the HSR Act in connection with the exercise of the Warrant. Any such notification and report form and supplemental information will be in full compliance with the requirements of
the HSR Act. The Company will furnish to such Holder promptly (but in no event more than five (5) business days) such information and assistance as such Holder may reasonably request in connection with the preparation of any filing or
submission required to be filed by such Holder under the HSR Act. The Company shall respond promptly after receiving any inquiries or requests for additional information from the FTC or the DOJ (and in no event more than three (3) business days
after receipt of such inquiry or request). The Company shall keep such Holder apprised periodically and at such Holder’s request of the status of any communications with, and any inquiries or requests for additional information from, the FTC or
the DOJ. The Company shall bear all filing or other fees required to be paid by the Company and such Holder (or the “ultimate parent entity” of such Holder, if any) under the HSR Act or any other applicable law in connection with such
filings and all costs and expenses (including, without limitation, attorneys’ fees and expenses) incurred by the Company and such Holder in connection with the preparation of such filings and responses to inquiries or requests. In the event
that this Section 4.01(k) is applicable to any exercise of a Warrant, the purchase by a Holder of the Warrant Shares subject to such exercise, and the payment by such Holder of the Exercise Price therefor, shall be subject to the expiration or
earlier termination of the waiting period under the HSR Act (with the exercise date of this Warrant being deemed to be the date immediately following the date of such expiration or early termination). 

(l) Each purchaser under the Securities Purchase Agreement has been given the opportunity to elect to be subject to the Beneficial
Ownership Limitation Provisions (as that term is defined in the Securities Purchase Agreement) that will appear in any certificate that represents the Warrants and that appears in the form of Warrant attached as Exhibit A to this Agreement. The
Company has provided the Warrant Agent with a list of the purchasers who made such an election. The Holder of a Warrant who has made such an election may not be entitled to receive shares of Common Stock upon exercise of a Warrant to the extent that
such receipt would cause the Holder to become the beneficial owner of more than the applicable maximum percentage of the shares of Common Stock outstanding at such time, as more fully set forth in the Beneficial Ownership Limitation Provisions set
forth in Section 2 of the form of Warrant attached as Exhibit A hereto. The Company shall promptly give the Warrant Agent notice if the Company receives from any such electing Holder a notice terminating the Beneficial Ownership Limitation
Provisions in accordance with the terms thereof. 

  
 14 

 ARTICLE 5 
 COVENANTS OF THE COMPANY 
 Section 5.01. Maintenance Of Office Or Agency. The Company will maintain in the United States an office or agency where Warrants may be surrendered for registration of transfer or exchange or
for presentation for exercise. The Company hereby initially designates the Corporate Trust Office of the Warrant Agent as such office of the Company. The Company will give prompt written notice to the Warrant Agent of the location, and any change in
the location, of such office or agency. If at any time the Company fails to maintain any such required office or agency or fails to furnish the Warrant Agent with the address thereof, such presentations, surrenders, notices and demands may be made
or served to the Warrant Agent. 
 The Company may also from time to time designate one or more other offices or agencies where
the Warrants may be surrendered or presented for any of such purposes and may from time to time rescind such designations. The Company will give prompt written notice to the Warrant Agent of any such designation or rescission and of any change in
the location of any such other office or agency. 
 Section 5.02. Payment Of Taxes. The Company will pay all
documentary, stamp or similar issue or transfer taxes in respect of the issuance or delivery of Warrant Shares upon the exercise of Warrants; provided that the Company shall not be required to pay any tax or taxes that may be payable in
respect of any transfer involved in the issue of any Warrants or any Warrant Shares in a name other than that of the registered Holder of a Warrant surrendered upon exercise (other than a transfer tax or other similar governmental charge payable
upon exchange pursuant to Section 3.09(b)(iv)), and the Company shall not be required to issue or deliver such Warrant unless or until the person or persons requesting the issuance thereof shall have paid to the Company the amount of such tax
or shall have established to the satisfaction of the Company that such tax has been paid. 
 Section 5.03. Reports.
Whether or not the Company is subject to the reporting requirements of the rules and regulations of the Commission, the Company must provide the Warrant Agent and Holders (or file with the Commission for public availability) within the time periods
specified in the Commission’s rules and regulations: 
 (i) all quarterly and annual reports that would be
required to be filed with the Commission on Forms 10-Q and 10-K, respectively, if the Company were required to file such reports; and 
 (ii) all current reports that would be required to be filed with the Commission on Form 8-K if the Company were required to file such reports. 

In addition, whether or not required by the Commission, the Company will, if the Commission will accept the filing, file a copy of all of
the information and reports referred to in clauses (i) and (ii) with the Commission for public availability within the time periods specified in the Commission’s rules and regulations. In addition, the Company will make the
information and reports available to securities analysts and prospective investors upon request. 

  
 15 

 For so long as any of the Warrants or Warrant Shares remain outstanding and constitute
“restricted securities” under Rule 144, the Company will make available upon request to any prospective purchaser of the Warrants or Warrant Shares or beneficial owner of Warrants or Warrant Shares in connection with any sale thereof the
information required by Rule 144A(d)(4) under the Securities Act. Delivery of such reports, information and documents to the Warrant Agent is for informational purposes only and the Warrant Agent’s receipt of such shall not constitute
constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants hereunder. 

Section 5.04. Reservation Of Warrant Shares. (a) The Company will at all times reserve and keep available for issuance
and delivery, free and clear of all liens, security interests, charges and other encumbrances or restrictions on sale and free and clear of all preemptive rights, such number of its authorized but unissued Common Stock or other securities of the
Company from time to time issuable upon exercise of the Warrants as will be sufficient to permit the exercise in full of all outstanding Warrants. 
 (b) The Company or, if appointed, the transfer agent for the Common Stock (the “Transfer Agent”) and every subsequent transfer agent for any securities of the Company issuable upon the
exercise of the Warrants will be irrevocably authorized and directed at all times to reserve such number of authorized securities as shall be required for such purpose. The Company will keep a copy of this Agreement on file with the Transfer Agent
and with every subsequent transfer agent for any of the Company’s securities issuable upon the exercise of the Warrants. The Company will supply such Transfer Agent with duly executed certificates for such purposes and will provide or otherwise
make available any cash which may be payable as provided in Section 6.02 hereof. The Company will furnish such Transfer Agent a copy of all notices of adjustments, and certificates related thereto, transmitted to each Holder pursuant to
Section 6.03 hereof. 
 (c) The Company covenants that all Warrant Shares which may be issued upon exercise of Warrants in
accordance with their terms will, upon issue, be fully paid, nonassessable, free of preemptive rights and free from all taxes, liens, charges and security interests with respect to the issuance thereof. 

Section 5.05. Obtaining Stock Exchange Listings. The Company will from time to time take all action which may be necessary so
that the Warrant Shares, immediately upon their issuance upon the exercise of Warrants, will be listed on the principal securities exchanges, automated quotation systems or other markets within the United States of America on which other shares of
Common Stock are then listed, if any. 
 Section 5.06. No Dilution or Impairment. The Company will not, by amendment
of its Certificate of Incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms of the Warrants, but will at all times in good faith assist in the carrying out of all such terms and in taking all such action as may be necessary or appropriate in order to protect the rights of the Holders of the Warrants against dilution.
Without limiting the generality of the foregoing, the Company (i) will not increase the 

  
 16 

 
par value of any shares of stock receivable on the exercise of the Warrants above the amount payable therefor on such exercise and (ii) will take all such action as may be necessary or
appropriate in order that the Company may validly and legally issue fully paid and non-assessable shares of stock on the exercise of the Warrants from time to time outstanding. 
 ARTICLE 6 
 ADJUSTMENT OF EXERCISE
PRICE AND NUMBER OF 
 WARRANT SHARES
ISSUABLE 
 Section 6.01. Adjustment Of Exercise Price And Number Of Warrant Shares Issuable. The
Exercise Price and the number of Warrant Shares issuable upon the exercise of each Warrant are subject to adjustment from time to time upon the occurrence of the events enumerated in this Section 6.01. For purposes of this Section 6.01,
“Common Stock” means shares now or hereafter authorized of any class of common stock of the Company and any other stock of the Company, however designated, that has the right (subject to any prior rights of any class or series of
preferred stock) to participate in any distribution of the assets or earnings of the Company without limit as to per share amount. 
 In the event that, at any time as a result of the provisions of this Section, the Holders of the Warrants shall become entitled upon subsequent exercise to receive any shares of capital stock of the
Company other than Common Stock, the number of such other shares so receivable upon exercise of this Warrant shall thereafter be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions
contained herein. 
  

	 	(a)	Adjustment for Change in Capital Stock. 

 If the Company (i) pays a dividend or makes a distribution on its Common Stock, in each case in shares of its Common Stock, (ii) subdivides its outstanding shares of Common Stock into a greater
number of shares, (iii) combines its outstanding shares of Common Stock into a smaller number of shares, (iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock or (v) issues by
reclassification of its Common Stock any shares of its capital stock, then the Exercise Price in effect immediately prior to such action shall be proportionately adjusted so that the Holder of any Warrant thereafter exercised may receive the
aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. 

The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after
the effective date in the case of a subdivision, combination or reclassification. If, after an adjustment, a Holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Company shall
determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to
adjustment on terms comparable to those applicable to Common Stock in this Section 6.01. Such adjustment shall be made successively whenever any event listed above shall occur. 

  
 17 

	 	(b)	Adjustment for Rights Issue. 

 If the Company distributes any rights, options or warrants to all holders of its Common Stock entitling them for a period expiring within 45 days after the record date mentioned below to purchase shares
of Common Stock or securities convertible into, or exercisable or exchangeable for, Common Stock, at a price per share less than the Daily Price per share on that record date, the Exercise Price shall be adjusted in accordance with the formula:

  
 

 
 where: 
  

			
	E’ =	  	the adjusted Exercise Price.
		
	E =	  	the then current Exercise Price.
		
	O =	  	the number of shares of Common Stock outstanding on the record date.
		
	N =	  	the number of additional shares of Common Stock issuable pursuant to such rights, options or warrants.
		
	P =	  	the aggregate price per share of the additional shares.
		
	M =	  	the Daily Price per share of Common Stock on the record date.

 The adjustment shall be made successively whenever any such rights, options or warrants are issued and
shall become effective immediately after the record date for the determination of stockholders entitled to receive the rights, options or warrants. If at the end of the period during which such rights, options or warrants are exercisable, not all
rights, options or warrants shall have been exercised, the Exercise Price shall be immediately readjusted to what it would have been if “N” in the above formula had been the number of shares actually issued. 

 

	 	(c)	Adjustment for Other Distributions. 

 If the Company pays a cash dividend to all holders of its Common Stock or distributes to all holders of its Common Stock any of its assets or debt securities or any rights or warrants to purchase debt
securities of the Company, the Exercise Price shall be adjusted in accordance with the formula: 
  
 

 
 where: 
  

			
	E’ =	  	the adjusted Exercise Price.

  
 18 

			
	E =	  	the then current Exercise Price.
		
	M =	  	the Daily Price per share of Common Stock on the record date mentioned below.
		
	F =	  	the fair market value on the record date of the assets, securities, rights or warrants to be distributed (or, with respect to a cash dividend, the amount of cash) in respect of one
share of Common Stock as determined in good faith by the Board of Directors.

 The adjustment shall be made successively whenever any such distribution is made and shall become
effective immediately after the record date for the determination of stockholders entitled to receive the distribution. 
 This
Section 6.01(c) does not apply to rights, options or warrants referred to in Section 6.01(b) hereof. 
  

	 	(d)	Adjustment for Common Stock Issue. 

 If the Company issues shares of Common Stock for a consideration per share less than the Daily Price per share on the date the Company fixes the offering price of such additional shares, the Exercise
Price shall be adjusted in accordance with the formula: 
  
 

 
 where: 
  

			
	E’ =	  	the adjusted Exercise Price.
		
	E =	  	the then current Exercise Price.
		
	O =	  	the number of shares outstanding immediately prior to the issuance of such additional shares.
		
	P =	  	the aggregate consideration received for the issuance of such additional shares.
		
	M =	  	the Daily Price per share on the date of issuance of such additional shares.
		
	A =	  	the number of shares outstanding immediately after the issuance of such additional shares.

 The adjustment shall be made successively whenever any such issuance is made, and shall become effective
immediately after such issuance. 
 This subsection (d) does not apply to: 

(i) any of the transactions described in subsections (a), (b) and (c) of this Section 6.01, 

  
 19 

 (ii) the exercise of Warrants, or the conversion or exchange of other
securities convertible or exchangeable for Common Stock, which are the subject of Section 6.01(e), 
 (iii)
shares of Common Stock issued in a merger of the Company with a Person who is not an Affiliate of the Company; and 
 (iv) shares of Common Stock issued pursuant to, or upon the exercise of awards granted pursuant to, employee benefit plans of the Company. 

 

	 	(e)	Adjustment for Convertible Securities Issue. 

 If the Company issues any securities convertible into or exchangeable or exercisable for Common Stock (other than (x) securities issued in transactions described in subsections (b) or
(c) or (y) the Warrants) for a consideration per share of Common Stock received for such securities that is less than the Daily Price per share on the date the Company enters into a definitive binding agreement that fixes the offering
price of such securities, the Exercise Price shall be adjusted in accordance with this formula: 
  
 

 
 where: 
  

			
	E’ =	  	the adjusted Exercise Price.
		
	E =	  	the then current Exercise Price.
		
	O =	  	the number of shares outstanding immediately prior to the issuance of such securities.
		
	P =	  	the aggregate consideration received for such securities.
		
	M =	  	the Daily Price per share on the date the Company enters into a definitive binding agreement that fixes the offering price of such securities.
		
	D =	  	the maximum number of shares deliverable upon conversion, exercise or in exchange for such securities at the initial conversion or exchange rate.
		
		  	The adjustment shall be made successively whenever any such issuance is made, and shall become effective immediately after such issuance.

 If all of the Common Stock deliverable upon conversion or exchange of such securities have not been
issued when such securities are no longer outstanding, then the Exercise Price shall promptly be readjusted to the Exercise Price which would then be in effect had the adjustment upon the issuance of such securities been made on the basis of the
actual number of shares of Common Stock issued upon conversion or exchange of such securities. 

  
 20 

 This subsection (e) does not apply to 

(i) convertible or exchangeable securities issued in a merger of the Company with a Person who is not an Affiliate of the
Company; 
 (ii) convertible or exchangeable securities issued as consideration in a merger of the Company with
any of its Affiliates, if the Company obtains an opinion from a nationally recognized investment banking, appraisal or valuation firm stating that the consideration received in such merger is fair to the Company; 

(iii) securities issued pursuant to employee benefit plans of the Company. 

 

	 	(f)	Consideration Received. 

For purposes of any computation respecting consideration received pursuant to subsections (d) and (e) of this Section 6.01,
the following shall apply: 
 (i) in the case of the issuance of shares of Common Stock for cash, the
consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions, discounts or other expenses incurred by the Company for any underwriting of the issue or otherwise in connection
therewith; 
 (ii) in the case of the issuance of shares of Common Stock for a consideration in whole or in part
other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors and described in a Board Resolution (and, if such issuance is to an Affiliate of the
Company, approved by a majority of the Board of Directors or confirmed by a written opinion of a nationally recognized investment banking, appraisal of valuation firm that is not an Affiliate of the Company); 

(iii) in the case of the issuance of securities convertible into, exercisable or exchangeable for shares of Common Stock,
the aggregate consideration received therefor shall be deemed to be the consideration received by the Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Company upon the
conversion, exercise or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (i) and (ii) of this subsection); and 

(iv) in the case of the issuance of shares of Common Stock pursuant to rights, options or warrants which rights, options
or warrants were originally issued together with one or more other equity securities as part of a unit at a price per unit, the consideration shall be deemed to be the fair value of such rights, options or warrants at the time of issuance thereof as
determined in good faith by the Board of Directors in accordance with GAAP whose determination shall be described in a Board Resolution (and, if such issuance is to an Affiliate of the Company, approved by a majority of the Board of

  
 21 

 
Directors or confirmed by a written opinion of a nationally recognized investment banking, appraisal of valuation firm that is not an Affiliate of the Company) plus the additional minimum
consideration, if any, to be received by the Company upon the exercise, conversion or exchange thereof (as determined in the same manner as provided in clauses (i) and (ii) of this subsection). 

 

	 	(g)	When De Minimis Adjustment May Be Deferred. 

 No adjustment in the Exercise Price need be made unless the adjustment would require an increase or decrease of at least 1% in the Exercise Price. Any adjustments that are not made shall be carried
forward and taken into account in any subsequent adjustment. All calculations under this Section 6.01 shall be made to the nearest cent or to the nearest 1/10,000th of a share, as the case may be, it being understood that no such rounding shall
be made under subsection (m) (and, in calculations made pursuant to such paragraph, the adjusted Exercise Price shall refer to such adjusted price before rounding). 

 

	 	(h)	When No Adjustment Required. 

 No adjustment need be made for (i) rights to purchase Common Stock pursuant to a Company plan for reinvestment of dividends or interest or (ii) a change in the par value or no par value of the
Common Stock. To the extent the Warrants become convertible into cash, no adjustment need be made thereafter as to the cash. Interest will not accrue on the cash. 
  

	 	(i)	Notice of Adjustment. 

Whenever the Exercise Price is adjusted, the Company shall provide the notices required by Section 6.03 hereof. 

 

	 	(j)	Reorganization of Company. 

If the Company consolidates or merges with or into, or transfers or leases all or substantially all its assets to, any Person, upon
consummation of such transaction, the Warrants shall automatically become exercisable for the kind and amount of securities, cash or other assets which the Holder of a Warrant would have owned immediately after the consolidation, merger, transfer or
lease if the Holder had exercised the Warrant immediately before the effective date of the transaction. Concurrently with the consummation of such transaction, the Person formed by or surviving any such consolidation or merger if other than the
Company, or the Person to which such transfer or lease shall have been made, shall enter into a supplemental Agreement so providing and further providing for adjustments that shall be as nearly equivalent as may be practical to the adjustments
provided for in this Section 6.01. The successor Company shall provide to Warrant Holders a notice in accordance with Section 8.02 describing the supplemental Agreement. If the issuer of securities deliverable upon exercise of Warrants
under the supplemental Agreement is an Affiliate of the formed, surviving, transferee or lessee person, that issuer shall join in the supplemental Agreement. If this Section 6.01(j) applies to a transaction, Section 6.01(a),(b), (c),
(d) and (e) hereof do not apply. This Section 6.01(j) shall not apply with respect to the Company’s pending asset sale transaction with PT Pertamina Persero. 

  
 22 

	 	(k)	Company Determination Final. 

 Any determination that the Company or the Board of Directors must make pursuant to Section 6.01(a) through (h) hereof is conclusive in the absence of manifest error or bad faith. 

 

	 	(l)	When Issuance or Payment May Be Deferred. 

 In any case in which this Section 6.01 shall require that an adjustment in the Exercise Price be made effective as of a record date for a specified event, the Company may elect to defer until the
occurrence of such event (i) issuing to the Holder of any Warrant exercised after such record date the Warrant Shares and other capital stock of the Company, if any, issuable upon such exercise over and above the Warrant Shares and other
capital stock of the Company, if any, issuable upon such exercise on the basis of the Exercise Price and (ii) paying to such Holder any amount in cash in lieu of a fractional share pursuant to Section 6.02 hereof; provided that the
Company shall deliver to such Holder a due bill or other appropriate instrument evidencing such Holder’s right to receive such additional Warrant Shares, other capital stock and cash upon the occurrence of the event requiring such adjustment.

  

	 	(m)	Adjustment in Number of Shares. 

 Upon each adjustment of the Exercise Price pursuant to this Section 6.01, each Warrant outstanding prior to the making of the adjustment in the Exercise Price shall thereafter evidence the right to
receive upon payment of the adjusted Exercise Price that number of shares of Common Stock (calculated to the nearest hundredth) obtained from the following formula: 
  

 
 where: 
  

			
	N’ =	  	the adjusted number of Warrant Shares issuable upon exercise of a Warrant by payment of the adjusted Exercise Price.
		
	N =	  	the number of Warrant Shares previously issuable upon exercise of a Warrant by payment of the Exercise Price prior to adjustment.
		
	E’ =	  	the adjusted Exercise Price.
		
	E =	  	the Exercise Price prior to adjustment.
		
	(n)	  	Form of Warrants.

 Irrespective of any adjustments in the Exercise Price or the number or kind of shares purchasable upon
the exercise of the Warrants, Warrants theretofore or thereafter issued may continue to express the same price and number and kind of shares as are stated in the Warrants initially issuable pursuant to this Agreement. 

  
 23 

	 	(o)	No Adjustment Below Par Value. 

 Notwithstanding anything herein to the contrary, no adjustment will be made to the Exercise Price if, as a result of such adjustment, the Exercise Price per Warrant Share would be less than the par value
of the Company’s Common Stock (or other capital stock for which any Warrant is exercisable); provided that, before taking any action which would but for the foregoing limitation in this sentence have caused an adjustment to reduce the
Exercise Price below the then par value (if any) of its Common Stock (or other capital stock for which any Warrant is exercisable), the Company will take any corporate action which would, in the opinion of its counsel, be necessary in order that the
Company may validly issue Warrant Shares at the Exercise Price as so adjusted. 
 Section 6.02. Fractional
Interests. The Company shall not be required to issue fractional Warrant Shares or scrip representing fractional shares on the exercise of Warrants. If more than one Warrant shall be presented for exercise in full at the same time by the same
Holder, the number of full Warrant Shares which shall be issuable upon the exercise thereof shall be computed on the basis of the aggregate number of Warrant Shares purchasable on exercise of the Warrants so presented. If any fraction of a Warrant
Share would, except for the provisions of this Section 6.02, be issuable on the exercise of any Warrants (or specified portion thereof), the Company shall pay an amount in cash equal to the current Daily Price per Warrant Share, as determined
on the date the Warrant is presented for exercise, multiplied by such fraction, computed to the nearest whole U.S. cent. 

Section 6.03. Notices To Warrant Holders. (a) Upon any adjustment of the Exercise Price pursuant to Section 6.01
hereof, the Company shall promptly thereafter (i) cause to be filed with the Warrant Agent a certificate of a firm of independent public accountants of recognized standing selected by the Board of Directors (who may be the regular auditors of
the Company) setting forth the Exercise Price after such adjustment and setting forth in reasonable detail the method of calculation and the facts upon which such calculations are based and setting forth the number of Warrant Shares (or portion
thereof) or other securities or property issuable after such adjustment in the Exercise Price, upon exercise of a Warrant and payment of the adjusted Exercise Price, which certificate shall be conclusive evidence of the correctness of the matters
set forth therein, and (ii) cause to be given to each of the Holders written notice of such adjustments in accordance with Section 8.02. Where appropriate, such notice may be given in advance and included as a part of the notice required
to be provided under the other provisions of this Section 6.03. 
 (b) In case: 

(i) the Company shall authorize the issuance to all holders of shares of Common Stock of rights, options or warrants to
subscribe for or purchase shares of Common Stock or of any other subscription rights or warrants; 
 (ii) the
Company shall authorize the distribution to all holders of shares of Common Stock of evidences of its indebtedness or assets (other than dividends or distributions referred to in Section 6.01(a) hereof); 

(iii) of any consolidation or merger to which the Company is a party, or of the transfer or lease of all or substantially
all assets of the Company (but excluding the 

  
 24 

 
Company’s pending transaction with PT Pertamina Persero), or of any reclassification or change of Common Stock issuable upon exercise of the Warrants (other than a change in par value, or
from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination), or a tender offer or exchange offer for shares of Common Stock by the Company; 

(iv) of the voluntary or involuntary dissolution, liquidation or winding up of the Company; or 

(v) the Company proposes to take any action which would require an adjustment of the Exercise Price pursuant to
Section 6.01 hereof; 
 then the Company shall cause to be filed with the Warrant Agent and shall cause to be given to each of the Holders,
at least 20 days (or 10 days in any case specified in clauses (i) or (ii) above) prior to any applicable record date, or promptly in the case of events for which there is no record date, by written notice in accordance with
Section 8.02 stating (x) the date as of which the holders of record of shares of Common Stock to be entitled to receive any such rights, options, warrants or distribution are to be determined, (y) the initial expiration date set forth
in any tender offer or exchange offer for shares of Common Stock, or (z) the date on which any such consolidation, merger, conveyance, transfer, dissolution, liquidation or winding up is expected to become effective or consummated, and the date
as of which it is expected that holders of record of shares of Common Stock shall be entitled to exchange such shares for securities or other property, if any, deliverable upon such reclassification, consolidation, merger, conveyance, transfer,
dissolution, liquidation or winding up. The failure to give the notice required by this Section 6.03 or any defect therein shall not affect the legality or validity of any distribution, right, option, warrant, consolidation, merger, conveyance,
transfer, dissolution, liquidation or winding up, or the vote upon any action. 
 Section 6.04. No Rights As
Stockholders. Nothing contained in this Agreement or the Warrants shall be construed as conferring upon the Holders of Warrants the right to vote or to consent or to receive notice as stockholders in respect of the meetings of stockholders or
the election of directors of the Company or any other matter, or any rights whatsoever, including the right to receive dividends, as stockholders of the Company, or the right to share in the assets of the Company in the event of its liquidation,
dissolution or winding up. 
 ARTICLE 7 
 WARRANT AGENT 
 Section 7.01. Warrant Agent.
The Warrant Agent undertakes the duties and obligations imposed by this Agreement upon the following terms and conditions, by all of which the Company and the Holders, by their acceptance thereof, shall be bound. 

(a) The statements contained herein and in the Warrants shall be taken as statements of the Company and the Warrant Agent assumes no
responsibility for the correctness of any of the same except such as describe the Warrant Agent or action taken or to be taken by it. The Warrant Agent assumes no responsibility with respect to the distribution of the Warrants except as herein
otherwise provided. 

  
 25 

 (b) The Warrant Agent has no duty to determine when an adjustment under Article 6 should be
made, how it should be made or calculated or what it should be. The Warrant Agent has no duty to determine whether any provisions of a supplemental Agreement under Section 6.01(j) hereof are correct. The Warrant Agent makes no representation as
to the validity or value of any securities or assets issued upon exercise of Warrants. 
 (c) The Warrant Agent shall have no
duty to investigate, and shall not be accountable with respect to, the validity or value or the kind or amount of any Warrant Shares or of any securities or property which may at any time be issued or delivered upon the exercise of any Warrant or
with respect to whether any such Warrant Shares or other securities will, when issued, be validly issued and fully paid and nonassessable, and makes no representation with respect thereto. 

(d) The Warrant Agent shall not be responsible for any failure of the Company to comply with any of the covenants contained in this
Agreement or in the Warrants. 
 (e) In the absence of bad faith on its part, the Warrant Agent may rely, and will be protected
in acting or refraining from acting, upon any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by
it to be genuine and to have been signed or presented by the proper Person. The Warrant Agent need not investigate any fact or matter stated in the document, but, in the case of any document which is specifically required to be furnished to the
Warrant Agent pursuant to any provision hereof, the Warrant Agent shall examine the document to determine substantial compliance as to form with the express requirements of this Agreement (but need not confirm or investigate the accuracy of
mathematical calculations or other facts, statements, opinions or conclusions stated therein). The Warrant Agent, in its discretion, may make further inquiry or investigation into such facts or matters as it sees fit. 

(f) The Warrant Agent may not be relieved from liabilities for its own grossly negligent action, its own grossly negligent failure to
act, or its own willful misconduct, except that this paragraph does not limit the effect of Section 7.01(e). 
 (g) The
Warrant Agent may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any agent appointed with due care. 
 (h) The Warrant Agent shall not be subject to any fiduciary or other implied duties of any kind or nature and its sole obligations shall be to comply with the terms contained in this Agreement.

 (i) The Warrant Agent may consult with counsel, and the written advice of such counsel or any Opinion of Counsel will be full
and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. 
 (j) No provision of this Agreement will require the Warrant Agent to expend or risk its own funds or otherwise incur any financial liability in the performance of its duties hereunder, or in the exercise
of its rights or powers, unless it receives indemnity or security satisfactory to it against any loss, liability or expense. 

  
 26 

 (k) The Warrant Agent shall act hereunder solely as agent for the Company, and its duties
shall be determined solely by the provisions hereof. No provision of this Agreement shall be construed to relieve the Warrant Agent from liability for its own grossly negligent action, its own grossly negligent failure to act or its own willful
misconduct. 
 (l) The Warrant Agent shall not be required to give any note, bond or surety in respect of its obligations under
this Agreement. 
 (m) The Warrant Agent may request that the Company deliver an Officers’ Certificate setting forth the
names of the individuals authorized at such time to take specified actions pursuant to this Agreement, which Officers’ Certificate may be signed by any person authorized to sign an Officers’ Certificate, including any person specified as
so authorized in such certificate previously delivered and not superseded. 
 (n) In no event shall the Warrant Agent be
responsible or liable for special, indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Warrant Agent has been advised of the likelihood of such loss or
damage and regardless of the form of action. 
 (o) The rights, privileges, protections, immunities and benefits given to the
Warrant Agent, including its right to be indemnified, are extended to, and shall be enforceable by, the Warrant Agent in each of its capacities hereunder, and each agent, custodian and other person employed to act hereunder. 

(p) In no event shall the Warrant Agent be responsible or liable for any failure or delay in the performance of its obligations hereunder
arising out of or caused by, directly or indirectly, forces beyond its control, including strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God; it being
understood that the Warrant Agent shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

Section 7.02. Compensation; Indemnity. (a) The Company will pay the Warrant Agent compensation as agreed upon in writing
for its services. The Company will reimburse the Warrant Agent upon request for all reasonable out-of-pocket expenses, disbursements and advances incurred or made by the Warrant Agent, except any such expense, disbursement or advance attributable to
its gross negligence or bad faith. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Warrant Agent’s agents and counsel. 

(b) The Company will indemnify the Warrant Agent for, and hold it harmless against, any loss or liability or expense incurred by it
without gross negligence or bad faith on its part arising out of or in connection with the acceptance or administration of this Agreement and its duties under this Agreement and the Warrants, including the costs and expenses of defending itself
against any claim or liability and of complying with any process served upon it or any of its 

  
 27 

 
officers in connection with the exercise or performance of any of its powers or duties under this Agreement and the Warrants, except to the extent any such loss, liability or expense may be
attributable to its gross negligence or willful misconduct. The Warrant Agent shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the Warrant Agent to so notify the Company shall not relieve the Company of its
obligations hereunder. The Company shall defend the claim and the Warrant Agent shall cooperate in the defense at the Company’s expense. The Warrant Agent may have separate counsel and the Company shall pay the reasonable fees and expenses of
such counsel. The Company need not pay for any settlement made without its consent, which consent shall not be unreasonably withheld. The Company’s payment obligations pursuant to this Section shall survive the expiration of the Warrants, the
termination of this Agreement under applicable bankruptcy law and the resignation or removal of the Warrant Agent. When the Warrant Agent incurs expenses after the occurrence of an event specified in Section 6.01(7) or (8) of the Indenture
with respect to the Company, the expenses are intended to constitute expenses of administration under applicable bankruptcy law. 
 Section 7.03. Individual Rights Of Warrant Agent. The Warrant Agent, and any stockholder, director, officer or employee of it, may buy, sell or deal in any of the Warrants or other securities
of the Company or become pecuniarily interested in any transaction in which the Company may be interested, or contract with or lend money to the Company or otherwise act as fully and freely as though it were not Warrant Agent under this Agreement.
Nothing herein shall preclude the Warrant Agent from acting in any other capacity for the Company or for any other legal entity. An Agent may do the same with like rights. 
 Section 7.04. Replacement of Warrant Agent. (a) The Warrant Agent 
 (i) may resign at any time by 30 days written notice to the Company, 
 (ii) may be removed at any time by the Company by 30 days written notice to the Warrant Agent, 
 (iii) may be removed at any time by the Holders of a majority of the outstanding Warrants by written notice to the Warrant Agent, in writing no later than 20 days before the effective date of such
removal, 
 (iv) shall, if no longer eligible under Section 7.06, be subject to removal upon the request of
any Holder to the Company; and 
 (v) may be removed by the Company if: (A) the Warrant Agent is no longer
eligible under Section 7.06; (B) the Warrant Agent is adjudged a bankrupt or an insolvent; (C) a receiver or other public officer takes charge of the Warrant Agent or its property; or (D) the Warrant Agent becomes incapable of
acting. 
 A resignation or removal of the Warrant Agent and appointment of a successor Warrant Agent will become effective only upon the
successor Warrant Agent’s acceptance of appointment as provided in this Section. 
 (b) If the Warrant Agent has been
removed by the Holders, Holders of a majority of the Warrants may appoint a successor Warrant Agent with the consent of the Company. 

  
 28 

 
Otherwise, if the Warrant Agent resigns or is removed, or if a vacancy exists in the office of Warrant Agent for any reason, the Company will promptly appoint a successor Warrant Agent. If the
successor Warrant Agent does not deliver its written acceptance within 30 days after the retiring Warrant Agent resigns or is removed, the retiring Warrant Agent, the Company or the Holders of a majority of the outstanding Warrants may petition any
court of competent jurisdiction for the appointment of a successor Warrant Agent. 
 (c) Upon delivery by the successor Warrant
Agent of a written acceptance of its appointment to the retiring Warrant Agent and to the Company and payment of the Warrant Agent’s charges, (i) the retiring Warrant Agent will transfer all property held by it as Warrant Agent to the
successor Warrant Agent, (ii) the resignation or removal of the retiring Warrant Agent will become effective, and (iii) the successor Warrant Agent will have all the rights, powers and duties of the Warrant Agent under this Agreement. Upon
request of any successor Warrant Agent, the Company will execute any and all instruments for fully vesting in and confirming to the successor Warrant Agent all such rights, powers and trusts. The Company will give notice of any resignation and any
removal of the Warrant Agent and each appointment of a successor Warrant Agent to all Holders, and include in the notice the name of the successor Warrant Agent and the address of its Corporate Trust Office. The retiring Warrant Agent shall have no
further responsibility for the exercise of rights and powers or for the performance of the obligations of the Warrant Agent under this Agreement with respect to the Warrants other than as hereafter expressly set forth herein. 

(d) Notwithstanding replacement of the Warrant Agent pursuant to this Section, the Company’s obligations under Section 7.02
will continue for the benefit of the retiring Warrant Agent. 
 Section 7.05. Successor Warrant Agent By Merger.
(a) If the Warrant Agent consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation or national banking association, the resulting, surviving or transferee
corporation or national banking association without any further act will be the successor Warrant Agent with the same effect as if the successor Warrant Agent had been named as the Warrant Agent in this Agreement. 

(b) If, at the time such successor to the Warrant Agent shall succeed to the agency created by this Agreement, any of the Warrants have
been countersigned but not delivered, the successor Warrant Agent may adopt the countersignature of the original Warrant Agent; and if any of the Warrants shall not have been countersigned, the successor Warrant Agent may countersign such Warrants,
and in all such cases such Warrants shall have the full force and effect provided in the Warrants and in this Agreement. 

Section 7.06. Eligibility. This Agreement must always have a Warrant Agent that has a combined capital and surplus of at
least $50,000,000 as set forth in its most recent published annual report of condition and satisfies the eligibility requirements set forth in Section 310(a) of the Trust Indenture Act of 1939, as amended. 

Section 7.07. Holder Lists. The Warrant Agent shall preserve in as current a form as is reasonably practicable the most
recent list available to it of the names and addresses of all 

  
 29 

 
Holders. If the Warrant Agent is not the Warrant Registrar, the Company shall promptly furnish to the Warrant Agent at such times as the Warrant Agent may request in writing, a list in such form
and as of such date as the Warrant Agent may reasonably require of the names and addresses of the Holders. 
 ARTICLE 8

 MISCELLANEOUS 
 Section 8.01. Warrant Holder Actions. (a) Any notice, consent to amendment, supplement or waiver provided by this Agreement to be given by a Holder (an “act”) may be
evidenced by an instrument signed by the Holder delivered to the Warrant Agent. 
 (b) Any act by the Holder of any Warrant
binds that Holder and every subsequent Holder of a Warrant certificate that evidences the same Warrant of the acting Holder, even if no notation thereof appears on the Warrant certificate. Subject to Section 8.01(c), a Holder may revoke an act
as to its Warrants, but only if the Warrant Agent receives the notice of revocation before the date the amendment, supplement or waiver or other consequence of the act becomes effective. 

(c) The Company may, but is not obligated to, fix a record date for the purpose of determining the Holders entitled to act with respect
to any amendment, supplement or waiver or in any other regard. If a record date is fixed, those Persons that were Holders at such record date and only those Persons will be entitled to act, or to revoke any previous act, whether or not those Persons
continue to be Holders after the record date. No act will be valid or effective for more than 90 days after the record date. 

Section 8.02. Notices. (a) Any notice or communication by the Company, on the one hand, or the Warrant Agent, on the
other hand, to the other is duly given if in writing (i) when delivered in person or (ii) when sent by facsimile transmission, with transmission confirmed. In each case the notice or communication should be addressed as follows:

 if to the Company: 
 1177 Enclave Parkway, Suite 300 
 Houston, Texas 77077 

Attention: General Counsel 
 with a copy to: 
 Fulbright & Jaworski L.L.P. 

2200 Ross Avenue, Suite 2800 
 Dallas, Texas 75201 
 Attention: Harva Dockery 

if to the Warrant Agent: 
 U.S. Bank National Association 
 60 Livingston Avenue 

St. Paul, Minnesota 55107 
 Attention: Specialized Finance 

  
 30 

 with a copy to: 

U.S. Bank National Association 
 5555 San Felipe, Suite 1150 
 Houston, Texas 77056 

Attention: Corporate Trust Officer 
 The Company or the Warrant Agent by notice to the other may designate additional or different addresses for subsequent notices or communications. 

(b) Any notice or communication to a Holder will be deemed given if in writing (i) when delivered in person or (ii) when sent
by facsimile transmission with transmission confirmed to the Holder at its address or facsimile number as it appears on the Register or, as to any Global Warrant registered in the name of DTC or its nominee, as agreed by the Company, the Warrant
Agent and DTC. Copies of any notice or communication to a Holder, if given by the Company, will be delivered to the Warrant Agent at the same time in accordance with Section 8.02. Defect in providing a notice or communication to any particular
Holder will not affect its sufficiency with respect to other Holders. 
 (c) Where this Agreement provides for notice, the
notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and the waiver will be the equivalent of the notice. Waivers of notice by Holders must be filed with the Warrant Agent, but such filing
is not a condition precedent to the validity of any action taken in reliance upon such waivers. 
 Section 8.03.
Supplements And Amendments. (a) The Company and the Warrant Agent may amend or supplement this Agreement or the Warrants without notice to or the consent of any Holder: 

(i) to cure any ambiguity, defect or inconsistency in this Agreement or the Warrants; 

(ii) to comply with Section 6.01(j); 

(iii) to evidence and provide for the acceptance of an appointment hereunder by a successor Warrant Agent; or 

(iv) to make any other change that does not adversely affect the rights of any Holder. 

(b) Except as otherwise provided in Section 8.03(a) or Section 8.03(c), the Company and the Warrant Agent may amend this
Agreement and the Warrants with the written consent of the Holders of a majority of the outstanding Warrants, and the Holders of a majority of the outstanding Warrants by written notice to the Warrant Agent may waive future compliance by the Company
with any provision of this Agreement or the Warrants. In addition, any term of a specific Warrant may be amended or waived with the written consent of the Company and the Holder of such Warrant. 

  
 31 

 (c) Notwithstanding the provisions of Section 8.03(b), without the consent of each
Holder affected, an amendment or waiver may not: 
 (i) increase the Exercise Price; or 

(ii) decrease the number of shares of Common Stock or other securities or property issuable upon exercise of the Warrants;

 except, in each case, for adjustments provided for in this Agreement. 

(d) It is not necessary for Holders to approve the particular form of any proposed amendment, supplement or waiver, but is sufficient if
their consent approves the substance thereof. 
 (e) An amendment, supplement or waiver under this Section 8.03 will become
effective on receipt by the Warrant Agent of written consents from the Holders of the requisite percentage of the outstanding Warrants. After an amendment, supplement or waiver under this Section 8.03 becomes effective, the Company will send to
the Holders affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to send such notice, or any defect therein, will not, however, in any way impair or affect the validity of any such amendment,
supplement or waiver. 
 (f) After an amendment, supplement or waiver becomes effective, it will bind every Holder unless it is
of the type requiring the consent of each Holder affected. If the amendment, supplement or waiver is of the type requiring the consent of each Holder affected, the amendment, supplement or waiver will bind each Holder that has consented to it and
every subsequent Holder of a Warrant with respect to which consent was granted. 
 (g) If an amendment, supplement or waiver
changes the terms of a Warrant, the Company or the Warrant Agent may require the Holder to deliver the Warrant to the Warrant Agent so that the Warrant Agent may place an appropriate notation of the changed terms on the Warrant and return it to the
Holder, or exchange it for a new Warrant that reflects the changed terms. The Warrant Agent may also place an appropriate notation on any Warrant thereafter countersigned. However, the effectiveness of the amendment, supplement or waiver is not
affected by any failure to annotate or exchange Warrants in this fashion. 
 (h) The Warrant Agent is entitled to receive, and
will be fully protected in relying upon, an Opinion of Counsel stating that the execution of any amendment, supplement or waiver authorized pursuant to this section is authorized or permitted by this Agreement. If the Warrant Agent has received such
an Opinion of Counsel, it shall sign the amendment, supplement or waiver so long as the same does not affect the rights of the Warrant Agent under this Agreement. The Warrant Agent may, but is not obligated to, execute any amendment, supplement or
waiver that affects the Warrant Agent’s own rights, duties or immunities under this Agreement. 

  
 32 

 Section 8.04. Governing Law. This Agreement and the Warrants shall be governed
by, and construed in accordance with, the laws of the State of New York. 
 Section 8.05. No Adverse Interpretation of
Other Agreements. This Agreement may not be used to interpret another agreement of the Company, and no such agreement may be used to interpret this Agreement. 
 Section 8.06. Successors. All agreements of the Company in this Agreement and the Warrants will bind its successors. All agreements of the Warrant Agent in this Agreement will bind its
successors. 
 Section 8.07. Duplicate Originals. The parties to this Agreement may sign any number of copies of
this Agreement. Each signed copy shall be an original, but all of them together represent the same agreement. 

Section 8.08. Separability. In case any provision in this Agreement or in the Warrants is invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 

Section 8.09. Table of Contents and Headings. The Table of Contents and headings of the Articles and Sections of this
Agreement have been inserted for convenience of reference only, are not to be considered a part of this Agreement and in no way modify or restrict any of the terms and provisions of this Agreement. 

Section 8.10. Benefits Of This Agreement. Nothing in this Agreement shall be construed to give to any person or corporation
other than the Company, the Warrant Agent and the registered Holders of Warrants any legal or equitable right, remedy or claim under this Agreement, but this Agreement shall be for the sole and exclusive benefit of the Company, the Warrant Agent and
the registered Holders of Warrants. 
 (REMAINDER OF PAGE INTENTIONALLY LEFT BLANK) 

  
 33 

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

			
	HARVEST NATURAL RESOURCES, INC.
		
	By:	 	 /s/ Stephen C. Haynes

	Name:	 	Stephen C. Haynes
	Title:	 	Vice President and Chief Financial Officer
	
	 U.S. BANK NATIONAL ASSOCIATION,

as Warrant Agent

		
	By:	 	 /s/ Mauri Cowen

	Name:	 	Mauri Cowen
	Title:	 	Vice President

 Warrant Agreement 

 EXHIBIT A 
 [Face of Warrant Certificate] 
 [Insert appropriate legend] 

 

			
	 No.
	  	 Warrants

CUSIP No.                     

 Warrant Certificate 
 This Warrant Certificate certifies that
                                        , or its
registered assigns, is the registered holder of Warrants (the “Warrants”) to purchase Common Stock, par value $0.01 (the “Common Stock”), of Harvest Natural Resources, Inc., a Delaware corporation (the
“Company”). Each Warrant entitles the registered holder upon exercise at any time from 9:00 a.m., New York City time, on the Business Day immediately following the date on which the Warrant Agreement referred to on the reverse
hereof is entered into until 5:00 p.m., New York City time, on October 11, 2015 (the “Expiration Date”), to receive from the Company
                             fully paid and nonassessable shares of Common Stock (the “Warrant
Shares”) at an initial exercise price (the “Exercise Price”) of $10.00 per share payable upon surrender of this Warrant Certificate at the office or agency of the Company, subject to the conditions set forth herein and in
the Warrant Agreement referred to on the reverse hereof. The Exercise Price and number of Warrant Shares issuable upon exercise of the Warrants are subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement.

 Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such
further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 IN WITNESS
WHEREOF, the Company has caused this Warrant Certificate to be signed below manually or by facsimile by its duly authorized officer. 

Dated: October 11, 2012 
  

			
	HARVEST NATURAL RESOURCES, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	Countersigned on October     , 2012:
	
	 U.S. BANK NATIONAL ASSOCIATION

as Warrant Agent

		
	By:	 	  

		 	Authorized Signatory

  
 A-1

 HARVEST NATURAL RESOURCES, INC.

 [Reverse of Warrant Certificate] 
 1. Warrant Agreement 
 The Warrants evidenced by this Warrant Certificate
are part of a duly authorized issue of Warrants issued or to be issued pursuant to a Warrant Agreement dated as of October 11, 2012 (the “Warrant Agreement”), between the Company and U.S. Bank National Association, as warrant
agent (the “Warrant Agent”), which Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties and
immunities thereunder of the Warrant Agent, the Company and the holders (the words “holders” or “holder” meaning the registered holders or registered holder) of the Warrants. To the extent permitted by law, in the
event of an inconsistency or conflict between the terms of this Warrant and the Warrant Agreement, the terms of the Warrant Agreement will prevail. 
 2. Exercise 
 Warrants may be exercised at any time during the period (the
“Exercise Period”) beginning at 9:00 a.m. New York City time on the Business Day immediately following the date on which the Warrant Agreement is entered into and ending at 5:00 p.m. New York City time on the Expiration Date. In
order to exercise all or any of the Warrants represented by this Warrant Certificate, the holder must deliver to the Warrant Agent at its Corporate Trust Office set forth in the Warrant Agreement this Warrant Certificate and the form of election to
purchase on the reverse hereof duly completed, and upon payment to the Warrant Agent for the account of the Company of the Exercise Price in the manner set forth in the Warrant Agreement for the number of Warrant Shares in respect of which such
Warrants are then exercised. 
 No Warrant may be exercised after 5:00 p.m., New York City time, on the Expiration Date, and to
the extent not exercised by such time the Warrants shall become void. 
 Notwithstanding the foregoing, if the holder has
elected to be subject to the Beneficial Ownership Limitation Provisions, as described in Section 1.11 of the Securities Purchase Agreement, the holder of this Warrant shall not be entitled to receive shares of Common Stock upon exercise of this
Warrant to the extent (but only to the extent) that such receipt would cause the holder to become, directly or indirectly, a “beneficial owner” (within the meaning of Section 13(d) of the Exchange Act and the rules and regulations
promulgated thereunder) of a number of shares of Common Stock that exceeds the Maximum Percentage of the shares of Common Stock outstanding at such time. This limitation on beneficial ownership shall be terminated (a) upon 61 days’ notice
to the Company by the holder or (b) immediately on the date that is 30 days prior to the expiration of the Exercise Period of the Warrants. Any purported delivery of shares of Common Stock upon exercise of this Warrant shall be void and have no
effect to the extent (but only to the extent) that such delivery would result in the holder becoming the beneficial owner of more than the Maximum Percentage of the shares of Common Stock outstanding at such time. If any delivery of shares of Common
Stock owed to the holder upon exercise of this Warrant is not made, in whole or in part, as a result of this limitation, the Company’s obligation to make such 

  
 A-2

 
delivery shall not be extinguished and the Company shall deliver such shares of Common Stock as promptly as practicable after the holder gives notice to the Company that such delivery would not
result in such limitation being triggered or after these beneficial ownership limitation provisions shall have been terminated by the holder of the Warrants or upon 30 days prior to the expiration of the Exercise Period of the Warrants. For purposes
of this Warrant, (y) the term “Maximum Percentage” shall mean initially 5%; provided, that if at any time on or after the date hereof the Holder Group beneficially owns in excess of 5% of the outstanding shares of Common Stock
(excluding any shares issuable under this Warrant and any other convertible security including a similar limitation), then the Maximum Percentage shall automatically increase to 10% so long as the Holder Group owns in excess of 5% of the outstanding
shares of Common Stock (excluding any shares issuable under this Warrant and any other convertible security including a similar limitation), and (z) the term “Holder Group” shall mean the holder of this Warrant plus any other person
with which such holder is considered to be part of a group under Section 13 of the Exchange Act or with which such holder otherwise files reports under Sections 13 or 16 of the Exchange Act. 

3. Adjustments 
 The Warrant Agreement provides that, upon the occurrence of certain events, the Exercise Price set forth on the face hereof may, subject to certain conditions, be adjusted. The Warrant Agreement also
provides that the number of shares of Common Stock issuable upon the exercise of each Warrant shall be adjusted in certain events. 
 4. No Fractional Shares. 
 No fractions of a share of Common Stock will be
issued upon the exercise of any Warrant, but the Company will pay the cash value thereof determined as provided in the Warrant Agreement. 
 5. Registration Rights. 
 In addition to the rights provided to Holders
under the Warrant Agreement, Holders of Registrable Securities (as defined in the Securities Purchase Agreement) shall have all the rights set forth in the Securities Purchase Agreement, as such agreement may be amended, modified or supplemented
from time to time. 
 6. Registered Form; Transfer and Exchange. 

The Warrants are in registered form. Warrant Certificates, when surrendered at the office of the Warrant Agent by the registered holder
thereof in person or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge (except as specified in
the Warrant Agreement), for another Warrant Certificate or Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants. 
 Upon due presentation for registration of transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the
aggregate a like number of Warrants shall be issued to the transferee(s) in 

  
 A-3

 
exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection
therewith. 
 The Company and the Warrant Agent may deem and treat the registered holder(s) thereof as the absolute owner(s) of
this Warrant Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the holder(s) hereof, and for all other purposes, and neither the Company nor
the Warrant Agent shall be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a stockholder of the Company. 

7. Countersignature. 
 This Warrant Certificate shall not be valid unless manually countersigned by the Warrant Agent, as such term is used in the Warrant Agreement. 

8. Governing Law. 
 This Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York. 
 9. Abbreviations. 
 Customary abbreviations may be used in the name of a
Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A/ (= Uniform Gifts to Minors Act).

 A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the Company. 

  
 A-4

 [Form of Election to Purchase] 

(To Be Executed Upon Exercise Of Warrant) 
 (1) The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive
                 shares of Common Stock and herewith tenders payment for such shares to the order of Harvest Natural Resources, Inc., in the amount of
$         in accordance with the terms hereof. 
 OR 

(2) The undersigned hereby irrevocably elects to convert this Warrant into
                 shares of Common Stock (before giving effect to the cashless exercise provisions) and herewith agrees to make payment therefor pursuant to the cashless
exercise provisions of the Warrant Agreement, all on the terms and the conditions specified in the Warrant Certificate and the Warrant Agreement. 
 The undersigned requests that a certificate for such shares be registered in the name of , whose address is              and that such
shares be delivered to             , whose address is             . If said number of shares is less than all of the shares of
Common Stock purchasable hereunder, the undersigned requests that a new Warrant Certificate representing the remaining balance of such shares be registered in the name of             ,
whose address is             , and that such Warrant Certificate be delivered to whose address is             . 

If the undersigned has elected to purchase Warrant Shares pursuant to option (1) above and such Warrant Shares have not been
registered pursuant to a registration statement that has been declared effective under the Securities Act, the undersigned represents and warrants that (w) it is not a U.S. person (as defined in Regulation S) or purchasing for the account or
benefit of a U.S. person, other than a distributor, and it is purchasing the Warrant Shares in an offshore transaction in accordance with Regulation S, (x) it is a qualified institutional buyer (as defined in Rule 144A) and is purchasing the
Warrant Shares for its own account or for the account of another qualified institutional buyer, and it is aware that the Company is selling the Warrant Shares to it in reliance on Rule 144A; (y) it is an “accredited investor” within
the meaning of Rule 501 under the Securities Act or (z) it is purchasing the Warrant Shares pursuant to another available exemption from the registration requirements of the Securities Act. Prior to a purchase of Warrant Shares pursuant to
clauses (w) and (x) above, the Company and the Warrant Agent may request a certificate substantially in the form of Exhibit D and Exhibit E to the Warrant Agreement, respectively. Prior to the purchase of Warrant Shares
pursuant to clause (y) above, the Company may request a certificate substantially in the form of Exhibit F and/or an opinion of counsel. Prior to the purchase of Warrant Shares pursuant to clause (z) above the Warrant Agent may
request appropriate certificates and/or an opinion of counsel. 
 [Include the following if applicable: The exercise of the
right to receive shares of Common Stock pursuant to this Form of Election is specifically made contingent on the occurrence of the event or circumstance described below, and the undersigned hereby undertakes to notify the Warrant Agent if and when
such occurrence occurs. If such notice is not provided to the Warrant Agent during the term of the Warrant Agreement, then the exercise of the right to receive shares of Common Stock pursuant to this Form of Election shall be null and void.]

  
 A-5

 [If applicable: Description of contingent event or circumstance:
                                .] 

 

	
	  

	Signature

 Date: 

  
 A-6

 SCHEDULE OF EXCHANGES OF INTERESTS OF GLOBAL WARRANTS 

The following exchanges of a part of this Global Warrant have been made: 

 

									
	 Date of Exchange
	  	Amount of decrease
in Number of
warrants in this
Global Warrant	  	Amount of increase in
Number of Warrants
in this Global
Warrant	  	Number of Warrants
in this Global
Warrant following
such decrease
or
increase	  	Signature of
authorized officer of
Warrant Agent
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 A-7

 [FORM OF TRANSFER NOTICE] 

FOR VALUE RECEIVED the undersigned registered holder hereby sell(s), assign(s) and transfer(s) unto
             (the “Assignee”) 
 (Please type or print block
letters) 
  
  

(Please print or typewrite name and address including zip code of assignee) 

 
  
 the within Warrant and all rights thereunder (the “Securities”), hereby irrevocably constituting and appointing 

 
  
 attorney to transfer said Warrant on the books of the Company with full power of substitution in the premises. 
 [THE FOLLOWING PROVISION TO BE INCLUDED ON ALL CERTIFICATES BEARING A RESTRICTED LEGEND] 
 In connection with any transfer of this Warrant occurring prior to the removal of the Restricted Legend, the undersigned confirms (i) the understanding that the Securities have not been registered
under the Securities Act of 1933, as amended; (ii) that such transfer is made without utilizing any general solicitation or general advertising; and (iii) further as follows: 

Check One 
  ̈  (1) This Warrant is being transferred to a “qualified institutional buyer” in compliance with Rule 144A under the Securities Act of
1933, as amended and certification in the form of Exhibit E to the Warrant Agreement is being furnished herewith. 
  ̈  (2) This Warrant is being transferred to a Non-U.S. Person in compliance with the exemption from registration under the Securities Act of 1933, as amended, provided by Regulation S thereunder,
and certification in the form of Exhibit D to the Warrant Agreement is being furnished herewith. 
 or 

 ̈  (3) This Warrant is being transferred other than in accordance with
(1) or (2) above and documents are being furnished which comply with the conditions of transfer set forth in this Warrant and the Warrant Agreement. 
 If none of the foregoing boxes is checked, the Warrant Agent is not obligated to register this Warrant in the name of any Person other than the Holder hereof unless and until the conditions to any such
transfer of registration set forth herein and in the Warrant Agreement have been satisfied. 

  
 A-8

					
		 	Date:	 	
		
		 	  

			
		 	Seller:	 	

					
			
		 	By:	 	  

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

  
 A-9

 EXHIBIT B 
 RESTRICTED LEGEND 
 THIS OFFER AND SALE OF THIS SECURITY HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR
OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION. 
 THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES, ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, NOT TO OFFER, SELL OR OTHERWISE TRANSFER THIS
SECURITY, PRIOR TO THE DATE (THE “RESALE RESTRICTION TERMINATION DATE”) THAT IS IN THE CASE OF RULE 144A SECURITIES: ONE YEAR (OR SUCH SHORTER PERIOD THAT MAY HEREAFTER BE PROVIDED UNDER RULE 144 OR ITS SUCCESSOR RULE AS PERMITTING RESALES
BY NON-AFFILIATES OF RESTRICTED SECURITIES WITHOUT RESTRICTION); OR IN THE CASE OF REGULATION S SECURITIES: ONE YEAR AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH HARVEST NATURAL RESOURCES, INC. (THE
“ISSUER”) OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) EXCEPT (A) TO THE ISSUER, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE
SECURITIES ACT, (C) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A) THAT PURCHASES
FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED
STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS PURCHASING THE SECURITY
FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL “ACCREDITED INVESTOR,” FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT OR
(F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE WARRANT AGENT’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO THIS CLAUSE (F) TO
REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATIONS AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND IN EACH OF THE FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THIS SECURITY IS COMPLETED AND DELIVERED BY
THE TRANSFEROR TO THE WARRANT AGENT. 

  
 B-1

 
EACH HOLDER AGREES NOT TO ENGAGE IN ANY HEDGING TRANSACTIONS WITH REGARDS TO THE WARRANTS OR WARRANT SHARES UNLESS IN COMPLIANCE WITH THE SECURITIES ACT. THIS LEGEND WILL BE REMOVED UPON THE
REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE. 

  
 B-2

 EXHIBIT C 
 DTC LEGEND 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS A BENEFICIAL INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL WARRANT ARE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS
OF THIS GLOBAL WARRANT ARE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE TRANSFER PROVISIONS OF THE WARRANT AGREEMENT. 

  
 C-1

 EXHIBIT D 
 Regulation S Certificate 

            ,          

[—] 
 Attention: [—] 
  

	 	Re:	Harvest Natural Resources, Inc. Warrants to acquire Common Stock of Harvest Natural Resources, Inc. (the “Warrants”) Issued under the Warrant Agreement
(the “Agreement”) dated as of October 11, 2012 relating to the Warrants 

 Ladies and
Gentlemen: 
 Terms are used in this Certificate as used in Regulation S (“Regulation S”) under the Securities
Act of 1933, as amended (the “Securities Act”), except as otherwise stated herein. 
 [CHECK A OR B AS
APPLICABLE.] 
  ̈  A. This Certificate relates to our proposed transfer of
         Warrants issued under the Agreement. We hereby certify as follows: 
 1. The offer and sale of the Warrants was not and will not be made to a person in the United States (unless such person is excluded from the definition of “U.S. person” pursuant to Rule
902(k)(2)(vi) or the account held by it for which it is acting is excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(i) under the circumstances described in Rule 902(h)(3)) and such offer and sale was not and will not
be specifically targeted at an identifiable group of U.S. citizens abroad. 
 2. Unless the circumstances
described in the parenthetical in paragraph 1 above are applicable, either (a) at the time the buy order was originated, the buyer was outside the United States or we and any person acting on our behalf reasonably believed that the buyer was
outside the United States or (b) the transaction was executed in, on or through the facilities of a designated offshore securities market, and neither we nor any person acting on our behalf knows that the transaction was pre-arranged with a
buyer in the United States. 
 3. Neither we, any of our affiliates, nor any person acting on our or their behalf
has made any directed selling efforts in the United States with respect to the Warrants. 
 4. The proposed
transfer of Warrants is not part of a plan or scheme to evade the registration requirements of the Securities Act. 
 5. If we are a dealer or a person receiving a selling concession, fee or other remuneration in respect of the Warrants, and the proposed transfer takes place during the one-year distribution compliance
period (as defined in Rule 902(f) of Regulation S), or we are an officer or director of the Company, we certify that the proposed transfer is being made in accordance with the provisions of Rule 904(b) of Regulation S. 

  
 D-1

  ̈  B. This Certificate relates to our proposed
exchange of          Warrants issued under the Agreement for an equal number of Warrants to be held by us. We hereby certify as follows: 

1. At the time the offer and sale of the Warrants was made to us, either (i) we were not in the United States or
(ii) we were excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(vi) or the account held by us for which we were acting was excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(i)
under the circumstances described in Rule 902(h)(3); and we were not a member of an identifiable group of U.S. citizens abroad. 
 2. Unless the circumstances described in paragraph 1(ii) above are applicable, either (a) at the time our buy order was originated, we were outside the United States or (b) the transaction was
executed in, on or through the facilities of a designated offshore securities market and we did not pre-arrange the transaction in the United States. 
 3. The proposed exchange of Warrants is not part of a plan or scheme to evade the registration requirements of the Securities Act. 
 You and the Company are entitled to rely upon this Certificate and are irrevocably authorized to produce this Certificate or a copy hereof to any interested party in any administrative or legal proceeding
or official inquiry with respect to the matters covered hereby. 
  

			
	Very truly yours,
	
	 [NAME OF SELLER (FOR TRANSFERS) OR OWNER (FOR EXCHANGES)]

		
	By:	 	  

	Name:	 	
	Title:	 	
	Address:	 	
	Date:	 	

  
 D-2

 EXHIBIT E 
 Rule 144A Certificate 

            ,      

[—] 
 Attention: [—] 
  

	 	Re:	Harvest Natural Resources, Inc. Warrants to acquire Common Stock of Harvest Natural Resources, Inc. (the “Warrants”) Issued under the Warrant Agreement
(the “Agreement”) dated as of October 11, 2012 relating to the Warrants 

 Ladies and Gentlemen: 

This Certificate relates to: 
 [CHECK A OR B AS APPLICABLE.] 

 ̈   A. Our proposed purchase of          Warrants
issued under the Agreement. 
  ̈   B. Our proposed exchange of
         Warrants issued under the Agreement for an equal number of Warrants to be held by us. 
 We and, if applicable, each account for which we are acting in the aggregate owned and invested more than $100,000,000 in securities of issuers that are not affiliated with us (or such accounts, if
applicable), as of             , 20     , which is a date on or since close of our most recent fiscal year. We and, if applicable, each account for which we are acting,
are a qualified institutional buyer within the meaning of Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended (the “Securities Act”). If we are acting on behalf of an account, we exercise sole investment
discretion with respect to such account. We are aware that the transfer of Warrants to us, or such exchange, as applicable, is being made in reliance upon the exemption from the provisions of Section 5 of the Securities Act provided by Rule
144A. Prior to the date of this Certificate we have received such information regarding the Company as we have requested pursuant to Rule 144A(d)(4) or have determined not to request such information. 

You and the Company are entitled to rely upon this Certificate and are irrevocably authorized to produce this Certificate or a copy
hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

  
 E-1

 
	
	 Very truly yours,

	
	 [NAME OF PURCHASER (FOR TRANSFERS) OR OWNER (FOR
EXCHANGES)]

  

			
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	 Address:
	 	
	 Date:
	 	

  
 E-2

 EXHIBIT F 
 Accredited Investor Certificate 

            ,
             
 [—] 

Attention: [—] 
  

	 	Re:	Harvest Natural Resources, Inc. Warrants to acquire Common Stock of Harvest Natural Resources, Inc. (the “Warrants”) Issued under the Warrant Agreement
(the “Agreement”) dated as of October 11, 2012 relating to the Warrants 

 Ladies and Gentlemen: 

This Certificate relates to: 
 [CHECK A OR B AS APPLICABLE.] 

 ̈   A. Our proposed purchase of          Warrants
issued under the Agreement. 
  ̈   B. Our proposed exchange of
         Warrants issued under the Agreement for an equal number of Warrants to be held by us. 
 We hereby confirm that: 
 1. We are an “accredited investor” within the
meaning of Rule 501 under the Securities Act of 1933, as amended (the “Securities Act”) (an “Accredited Investor”). 
 2. Any acquisition of Warrants by us will be for our own account or for the account of one or more other Accredited Investors as to which we exercise sole investment discretion. 

3. We have such knowledge and experience in financial and business matters that we are capable of evaluating the merits and risks of an
investment in the Warrants and we and any accounts for which we are acting are able to bear the economic risks of and an entire loss of our or their investment in the Warrants. 

4. We are not acquiring the Warrants with a view to any distribution thereof in a transaction that would violate the Securities Act or
the securities laws of any State of the United States or any other applicable jurisdiction; provided that the disposition of our property and the property of any accounts for which we are acting as fiduciary will remain at all times within
our and their control. 
 5. We acknowledge that the Warrants have not been registered under the Securities Act and that the
Warrants may not be offered or sold within the United States or to or for the benefit of U.S. persons except as set forth below. 

 We agree for the benefit of the Company, on our own behalf and on behalf of each account for
which we are acting, that such Warrants may be offered, sold, pledged or otherwise transferred only in accordance with the Securities Act and any applicable securities laws of any State of the United States and only (a) to the Company or any
subsidiary thereof, (b) pursuant to a registration statement that has been declared effective under the Securities Act, (c) to a person it reasonably believes is a qualified institutional buyer in compliance with Rule 144A under the
Securities Act, (d) in an offshore transaction in compliance with Rule 904 of Regulation S under the Securities Act, (e) to an Accredited Investor that, prior to such transfer, delivers to the Warrant Agent a duly completed and signed
certificate (the form of which may be obtained from the Warrant Agent) relating to the restrictions on transfer of the Warrants or (f) pursuant to any other available exemption from the registration requirements of the Securities Act.

 Prior to the registration of any transfer in accordance with (c) or (d) above, we acknowledge that a duly completed
and signed certificate (the form of which may be obtained from the Warrant Agent) must be delivered to the Warrant Agent. Prior to the registration of any transfer in accordance with (e) or (f) above, we acknowledge that the Company
reserves the right to require the delivery of such legal opinions, certifications or other evidence as may reasonably be required in order to determine that the proposed transfer is being made in compliance with the Securities Act and applicable
state securities laws. We acknowledge that no representation is made as to the availability of any exemption from the registration requirements of the Securities Act. 
 We understand that the Warrant Agent will not be required to accept for registration of transfer any Warrants acquired by us, except upon presentation of evidence satisfactory to the Company and the
Warrant Agent that the foregoing restrictions on transfer have been complied with. We further understand that the Warrants acquired by us will bear a legend reflecting the substance of the preceding paragraph. We further agree to provide to any
person acquiring any of the Warrants from us a notice advising such person that resales of the Warrants are restricted as stated herein and that the Warrants will bear a legend to that effect. 

We agree to notify you promptly in writing if any of our acknowledgments, representations or agreements herein ceases to be accurate and
complete. 
 We represent to you that we have full power to make the foregoing acknowledgments, representations and agreements
on our own behalf and on behalf of any account for which we are acting. 
 You and the Company are entitled to rely upon this
Certificate and are irrevocably authorized to produce this Certificate or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

  
 F-2

 
	
	 Very truly yours,

	
	 [NAME OF PURCHASER (FOR TRANSFERS) OR OWNER (FOR
EXCHANGES)]

  

			
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	 Address:
	 	
	 Date:
	 	

 Upon transfer, the Warrants would be registered in the name of the new beneficial owner as follows:

  

                      
                                         
                  
 Taxpayer ID number:
                     

  
 F-3

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