Document:

EX-10.18

 Exhibit 10.18 

FORM OF NOTICE OF GRANT OF RESTRICTED STOCK 

(Performance Based) 

Pursuant to the terms and conditions of the Parsley Energy, Inc. 2014 Long Term Incentive Plan, attached as Appendix A (the
“Plan”), and the associated Restricted Stock Agreement, attached as Appendix B (the “Agreement”), you are hereby issued shares of Stock subject to certain restrictions thereon and under the conditions set forth below, in
the Agreement, and in the Plan (the “Restricted Shares”). Capitalized terms used but not defined herein shall have the meanings set forth in the Plan. 
  

			
	Grantee:	  	  

		
	Date of Grant:	  	                , 20         (“Date of Grant”)
		
	Target Number of Shares:	  	                   (“Target Number of Shares”)
		
	Fair Market Value of Shares on Date of Grant:	  	  

		
	Vesting Schedule:	  	Subject to the terms and conditions of the Agreement and the Plan, the proportion of the Target Number of Shares earned under this Notice of Grant of Restricted Stock shall be calculated in accordance with Appendix D; provided,
however, that such restrictions will expire under the circumstances enumerated in Appendix D only if you remain in the employ of or a service provider to the Company or its Subsidiaries continuously from the Date of Grant through the applicable
vesting date. The period over which the Company’s performance will be measured for purposes of applying the methodology set forth in Appendix D shall be from [        ] to
[        ] (the “Performance Period”).

 You and the Company hereby acknowledge receipt of the Restricted Shares issued on the Date of Grant indicated
above, which have been issued under the terms and conditions of the Plan and the Agreement. 
 You acknowledge and agree that (a) you
are not relying upon any written or oral statement or representation of the Company, its affiliates, or any of their respective employees, directors, officers, attorneys or agents (collectively, the “Company Parties”) regarding the tax
effects associated with your execution of this Agreement and your receipt, holding and vesting of the Restricted Shares, and (b) in deciding to enter into this Agreement, you are relying on your own judgment and the judgment of the
professionals of your choice with whom you have consulted. You hereby release, acquit and forever discharge the Company Parties from all 

  

Page 2 

                        ,
                 
  

 
actions, causes of actions, suits, debts, obligations, liabilities, claims, damages, losses, costs and expenses of any nature whatsoever, known or unknown, on account of, arising out of, or in
any way related to the tax effects associated with your execution of the Agreement and your receipt, holding and exercise of the Restricted Shares. 

In addition, you are consenting to receive documents from the Company and any plan administrator by means of electronic delivery, provided
that such delivery complies with the rules, regulations, and guidance issued by the Securities and Exchange Commission and any other applicable government agency. This consent shall be effective for the entire time that you are a participant in the
Plan. 
 Furthermore, you understand and acknowledge that you should consult with your tax advisor regarding the advisability of filing with
the Internal Revenue Service an election under section 83(b) of the Code with respect to the Restricted Shares for which the restrictions have not lapsed. This election must be filed no later than 30 days after Date of Grant set forth in this Notice
of Grant of Restricted Stock. This time period cannot be extended. You acknowledge (a) that you have been advised to consult with a tax advisor regarding the tax consequences of the award of the Restricted Shares and (b) that timely filing
of a section 83(b) election is your sole responsibility, even if you request the Company or its representative to file such election on your behalf. 

You further acknowledge receipt of a copy of the Plan and the Agreement and agree to all of the terms and conditions of the Plan and the
Agreement, which are incorporated herein by reference. 
  

			
	Attachments:	  	Appendix A – Parsley Energy, Inc. 2014 Long Term Incentive Plan
		  	Appendix B – Restricted Stock Agreement
		  	Appendix C – Section 83(b) Election
		  	Appendix D – Performance Vesting Criteria and Methodology

  

 Appendix A 

Parsley Energy, Inc. 2014 Long Term Incentive Plan 

 Appendix B 

Restricted Stock Agreement 

 Appendix C 

INSTRUCTIONS FOR FILING 

YOUR SECTION 83(b) ELECTION 
  

	1.	Not later than 30 days after the date of grant, mail one executed copy of the election by certified mail, return receipt requested, to the IRS Service Center where your federal tax returns are filed. Attached is a
sample cover letter to the Internal Revenue Service to be used in connection with filing the Section 83(b) election. In addition, below is a chart that lists the address for each IRS service center. 

 

			
	 Taxpayer’s State of Residence
	  	 IRS Service Center

	Alabama, Georgia, North Carolina, South Carolina	  	 Department of the Treasury
 Internal
Revenue Service
 Kansas City, MO 64999-0002

		
	Florida, Louisiana, Mississippi, Texas	  	 Department of the Treasury
 Internal
Revenue Service
 Austin, TX 73301-0002

		
	Alaska, Arizona, California, Colorado, Hawaii, Nevada, Oregon, Washington	  	 Department of the Treasury
 Internal
Revenue Service
 Fresno, CA 93888-0002

		
	Arkansas, Idaho, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Montana, Nebraska, New Mexico, North Dakota, Ohio, Oklahoma, South Dakota, Utah, Wisconsin, Wyoming	  	 Department of the Treasury
 Internal
Revenue Service
 Fresno, CA 93888-0002

		
	Kentucky, Tennessee, Missouri, New Jersey, Virginia, West Virginia	  	 Department of the Treasury
 Internal
Revenue Service
 Kansas City, MO 64999-0002

		
	Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New York, Pennsylvania, Rhode Island, Vermont	  	 Department of the Treasury
 Internal
Revenue Service
 Kansas City, MO 64999-0002

		
	A foreign country, U.S. possession or territory*, or use an APO or FPO address, or file Form 2555, 2555-EZ, or 4563, or are a dual-status alien	  	 Department of the Treasury
 Internal
Revenue Service
 Austin, TX 73301-0215

  

	*	If you live in American Samoa, Puerto Rico, Guam, the U.S. Virgin Islands, or the Northern Mariana Islands, see IRS Publication 570. 

 

	2.	Mail one copy of the executed election by certified mail, return receipt requested, to: 

Parsley Energy, Inc. 
 Attn: Legal
Department 
 500 W. Texas Ave, Tower I, Suite 200 

Midland, Texas 79701 
  

	3.	Attach a copy of the election to your federal income tax return for the year in which the grant and election were made. 

Note: It is your sole responsibility, and not the responsibility of Parsley Energy, Inc. (the “Company”) or any of its
affiliates, to timely file your Section 83(b) election even if you request the Company or any of its affiliates or any of their respective managers, directors, officers, employees or authorized representatives (including attorneys, accountants,
consultants, bankers, lenders, prospective lenders and financial representatives) of the Company to assist in making such filing. In addition, the Company and its affiliates cannot provide you with tax advice. The information provided in these
instructions is general in nature and if you have any specific questions about your individual tax circumstances, you should consult with your tax adviser. 

  
 A-1 

 SUGGESTED FORM OF SECTION 83(b) 

ELECTION TRANSMITTAL LETTER 
 [DATE]

 VIA CERTIFIED MAIL 
 Return Receipt
Requested 
 Department of the Treasury 
 Internal Revenue
Service Center 
 [Insert applicable IRS service center address] 
  

	Re:	Election Under Section 83(b) of the Internal Revenue Code 

 Ladies and Gentlemen: 

Pursuant to Treasury Regulation Section 1.83-2(c) promulgated under Section 83 of the Internal Revenue Code of 1986, as amended (the
“Code”), enclosed please find a copy of an executed election under Section 83(b) of the Code relating to the issuance of Class A common stock of Parsley Energy, Inc., a Delaware corporation. 

Very truly yours, 

[Insert name of Taxpayer] 

Enclosure 

  
 A-2 

 SECTION 83(b) ELECTION 

The undersigned taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended, to include in gross
income as compensation for services the excess (if any) of the fair market value of the property described below over the amount paid for such property. 
  

	1.	The name, social security number and address of the undersigned (the “Taxpayer”), and the taxable year for which this election is being made are: 

 

			
	Taxpayer’s Name:	  	  

		
	Taxpayer’s [Social 	  	
	Security / Employer	  	
	Identification] Number:                	  	                    -                
-                    
		
	Taxpayer’s Address:	  	  

		  	  

		
	Taxable Year:	  	Calendar Year                         

  

	2.	The property that is the subject of this election (the “Property”) is              shares of Class A common stock in Parsley
Energy, Inc. 

  

	3.	The Property was transferred to the Taxpayer on [Insert transfer date]. 

  

	4.	The Property is subject to the following restrictions: [Describe applicable restrictions]. 

  

	5.	The fair market value of the Property at the time of transfer (determined without regard to any restriction other than a nonlapse restriction as defined in Section 1.83-3(h) of the Income Tax Regulations) is
$             per Class A common share x              shares =
$            . 

  

	6.	The amount paid by the Taxpayer for the Property is $             per Class A common share x
             shares = $            . 

 

	7.	The amount to include in gross income is $            . [Insert the result of the amount reported in Item 5 minus the amount reported in
Item 6] 

 The undersigned taxpayer will file this election with the Internal Revenue Service office with which the taxpayer files his
or her annual income tax return not later than 30 days after the date of transfer of the Property. A copy of the election also will be furnished to the person for whom the services were performed. Additionally, the undersigned will include a copy of
the election with his or her income tax return for the taxable year in which the Property is transferred. The undersigned is the person performing the services in connection with which the Property was transferred. 

 

							
	Dated: 	 	 	  		  	 
	        Taxpayer’s Signature

  
 A-3 

 Appendix D 

Performance Vesting Criteria and Methodology 

This Appendix D to this Notice of Grant of Restricted Stock contains the performance requirements and methodology for the vesting of the Restricted Shares.
Capitalized terms used but not defined herein or in the Notice of Grant of Restricted Stock shall have the same meaning assigned to them in the Agreement or the Plan. 

A. Performance Criteria 

[                    ] 

B. Threshold(s) 

[                    ] 

C. Additional Factors or Information Regarding Performance Vesting Methodology 

[                    ] 

  
 A-4EX-10.19

 Exhibit 10.19 
 Execution Version 
  
  

 
 FIFTH AMENDMENT

 TO 
 AMENDED AND RESTATED CREDIT AGREEMENT 
 Dated as of May 9, 2014

 Among 
 PARSLEY ENERGY, L.P., 
 as Borrower, 

PARSLEY ENERGY MANAGEMENT, LLC, 
 as General Partner, 
 PARSLEY ENERGY, LLC, 

as Parent, 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 
 as Administrative Agent, 
 JPMORGAN CHASE BANK, N.A., 

as Syndication Agent, 
 BMO HARRIS BANK, N.A., 
 as Documentation Agent, 

and 

The Lenders Party Thereto 
  

 
 WELLS FARGO
SECURITIES, LLC 
 Sole Lead Arranger and Sole Bookrunner 

 
  

 
  

 

 FIFTH AMENDMENT TO 

AMENDED AND RESTATED CREDIT AGREEMENT 
 THIS FIFTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Fifth Amendment”) dated as of May 9, 2014, is among Parsley Energy, L.P., a limited partnership duly
formed and existing under the laws of the state of Texas (the “Borrower”); Parsley Energy Management, LLC, a Texas limited liability company (the “General Partner”); Parsley Energy, LLC, a Delaware limited liability
company (the “Parent”); each of the undersigned guarantors (the “Guarantors”, and together with the Borrower, the General Partner and the Parent, the “Obligors”); each of the Lenders party hereto;
and Wells Fargo Bank, National Association (in its individual capacity, “Wells Fargo”), as administrative agent for the Lenders (in such capacity, together with its successors in such capacity, the “Administrative
Agent”). 
 R E C I T A L S 
 A. The Borrower, the General Partner, the Parent, the Administrative Agent and the Lenders are parties to that certain Amended and Restated Credit Agreement dated as of October 21, 2013 (as amended by the
First Amendment to Amended and Restated Credit Agreement dated December 20, 2013, the Second Amendment to Amended and Restated Credit Agreement dated February 5, 2014, the Third Amendment to Amended and Restated Credit Agreement dated
April 15, 2014 and the Fourth Amendment to Amended and Restated Credit Agreement dated May 2, 2014, the “Credit Agreement”), pursuant to which the Lenders have made certain credit available to and on behalf of the
Borrower. 
 B. The Borrower has requested and the Administrative Agent and the Lenders party hereto have agreed to amend the
Credit Agreement, subject to the terms and conditions of this Fifth Amendment. 
 C. NOW, THEREFORE, to induce the
Administrative Agent and the Lenders to enter into this Fifth Amendment and in consideration of the premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows: 
 Section 1. Defined Terms. Each capitalized term used herein
but not otherwise defined herein has the meaning given such term in the Credit Agreement, as amended by this Fifth Amendment (unless otherwise indicated). Unless otherwise indicated, all section references in this Fifth Amendment refer to sections
of the Credit Agreement. 
 Section 2. Amendments to Credit Agreement. 

2.1 Amendments to Section 1.02 – Certain Defined Terms. 

(a) The following definitions are hereby added where alphabetically appropriate to read as follows: 

“Fifth Amendment” means that certain Fifth Amendment to Amended and Restated Credit Agreement, dated as
of May 9, 2014, among the Borrower, the General Partner, the Parent, the Administrative Agent and the Lenders party thereto. 

  
 1 

 “PEI” means Parsley Energy, Inc., a Delaware corporation.

 “Permitted Parent Payments” means the distribution by the Borrower or Parent to PEI from time
to time of amounts not to exceed $5,000,000.00 during any calendar year necessary to fund the payment by or reimbursement of PEI of (i) its general corporate operating and overhead costs and expenses in the ordinary course of business and
(ii) expenses related to the registration and offering of securities pursuant to registration rights agreements entered into by PEI in connection with the Reorganization Transactions (in either case, including any such fees, costs or expenses
of independent auditors, reserve engineers and legal counsel to PEI or such other entity, fees and expenses (including franchise or similar taxes) required to maintain its corporate existence and customary salary, bonus and other benefits payable to
its directors, officers and employees), to the extent such costs and expenses are reasonably attributable or related to the ownership of Parent and its Subsidiaries. 

“Permitted Tax Distributions” means for any calendar year or portion thereof during which the Borrower is
a pass-through entity for U.S. federal income tax purposes, payments and distributions to the members or partners of the Borrower (and, for any calendar year or portion thereof during which the Parent is a pass-through entity for U.S. federal income
tax purposes, payments and distributions to the members or partners of the Parent), on or prior to each estimated tax payment date as well as each other applicable due date, in an amount not to exceed the product of (i) the total aggregate
taxable income of the Borrower and its Subsidiaries (or estimates thereof) which is allocable to its members or partners as a result of the operations or activities of the Borrower and its Subsidiaries during the relevant period calculated without
regard to, for clarity, any tax deductions or basis adjustments arising under Code Section 743 attributable to the assets of the Borrower, multiplied by (ii) the highest combined marginal federal, state and local income tax rates
applicable to any member or partner of the Borrower (or, if any of them are themselves a pass-through entity for U.S. federal income tax purposes, their members or partners) determined by taking into account the character of the income and loss
allocable to the members or partners as it affects the applicable tax rate, after taking proper account of loss carryforwards resulting from losses allocated to the members or partners by the Borrower, to the extent not taken into account in prior
periods; provided that, for the avoidance of doubt, taxable income of the Borrower and its Subsidiaries for any period shall include any increases thereto as a result of any tax examination, audit or adjustment, whether for taxable periods ending
prior to or after the date of the Fifth Amendment. 

  
 2 

 “Reorganization Transactions” means the corporate
reorganization of Parent and certain of its Subsidiaries in connection with the IPO, as described in the “Corporate Reorganization” section of that certain Registration Statement on Form S-1 (333-195230) filed on May 5, 2014 as may be
revised to reflect final size and pricing of the IPO (the “Registration Statement”), which transactions include, but are not limited to: (A) the conversion of the outstanding Equity Interests in the Parent into a new class of
Equity Interests in the Parent, (B) the designation of PEI as the managing member of the Parent, (C) the contribution by members in the Parent of all or part of such Equity Interests in the Parent to PEI in exchange for the issuance of
Equity Interests in PEI, (D) the contribution by PEI of shares of a class of its common stock to the Parent and the distribution by the Parent of such shares of such common stock to certain members of the Parent, and (E) the application of
the net proceeds of the IPO as described in the Registration Statement; provided that Reorganization Transactions shall not include any obligations in connection with any tax receivable agreements. 

(b) The following definitions are hereby amended and restated in their entirety to read as follows: 

“Change in Control” means the occurrence of any of the following: (a) prior to the occurrence of an
IPO: (i) the Parent shall cease to own and control, of record and beneficially, directly, 100% of the Equity Interests of the General Partner and Operations; (ii) the Parent and the General Partner shall cease to own and control, of record
and beneficially, directly, 100% of the Equity Interests of the Borrower; (iii) the General Partner shall cease to be the sole general partner of the Borrower; (iv) the Permitted Holders shall cease to own and control, of record and
beneficially, directly, not less than a majority (on a fully diluted basis) of the voting Equity Interests of the Parent free and clear of all Liens (except for (A) Liens created under the Loan Documents and (B) non-consensual Liens
permitted by Section 9.03 to the extent arising by operation of law); (v) Sheffield shall cease to be Chief Executive Officer and President of the General Partner and the Parent; (v) Operations shall cease to own and control, of
record and beneficially, directly or indirectly, 100% of each class of outstanding Equity Interests of each subsidiary of Operations; or (vi) the Borrower shall cease to own and control, of record and beneficially, directly or indirectly, 100%
of each class of outstanding Equity Interests of each Subsidiary of the Borrower, in each case free and clear of all Liens (except for (A) Liens created under the Loan Documents, and (B) non-consensual Liens permitted by Section 9.03
to the extent arising by operation of law); provided that, in any case, in the event of a Change in Control due to the death or permanent disability of Sheffield, 

  
 3 

 
the Lenders shall not pursue any remedies under this Agreement and a Change in Control shall not be deemed to have occurred if each of the ultimate successor in ownership to Sheffield and the
replacement officer duly appointed by the Parent, the General Partner and/or the Borrower are acceptable to the Required Lenders in their reasonable discretion and established on or prior to the date that is 120 days following such death or
permanent disability; and (b) after the occurrence of an IPO: (i) PEI shall cease to Control the Parent; (ii) the Parent shall cease to own and control, of record and beneficially, directly, 100% of the Equity Interests of the General
Partner and Operations; (iii) the Parent and the General Partner shall cease to own and control, of record and beneficially, directly, 100% of the Equity Interests of the Borrower; (iv) the General Partner shall cease to be the sole
general partner of the Borrower; (v) the acquisition of ownership, directly or indirectly, beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the SEC thereunder as in
effect on the date hereof) other than the Permitted Holders, of Equity Interests representing more than 30% of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of PEI; (vi) occupation of a majority
of the seats (other than vacant seats) on the board of directors of PEI by Persons who were neither (1) nominated by the board of directors of PEI that exists on the date of the IPO nor (2) appointed by directors so nominated; or
(vii) the acquisition of direct or indirect Control of PEI by any Person or group other than the Permitted Holders. 
 Notwithstanding the preceding, prior to the occurrence of an IPO, the contribution or exchange by Sheffield and Sheffield Energy Management, LLC of Equity Interests in the Parent for share of a
corporation formed to hold of record the outstanding Equity Interests of the Parent shall not constitute a Change in Control so long as Sheffield and his controlled entity Sheffield Energy Management, LLC own and control, of record and beneficially,
directly, not less than a majority (on a fully diluted basis) of the voting Equity Interests of such corporation free and clear of all Liens (except for (i) Liens created under the Loan Documents and (ii) non-consensual Liens permitted by
Section 9.03 to the extent arising by operation of law) and such new corporation owns and controls, of record and beneficially, directly, not less than a majority (on a fully diluted basis) of the voting Equity Interests of the Parent.

 “IPO” means the first underwritten registration of any Equity Interests of PEI that is filed
and declared effective under the Securities Act of 1933, as amended. 

  
 4 

 2.2 Amendment to Section 9.04(a). Section 9.04(a) is hereby amended and
restated in its entirety to read as follows: 
 (a) Restricted Payments. Each of the Parent and the
Borrower will not, and will not permit any of its Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment, return any capital to its holders of Equity Interests or make any distribution of its
Property to its Equity Interest holders without the prior approval of the Majority Lenders, except (i) each Loan Party may declare and pay dividends or distributions with respect to its Equity Interests payable solely in additional shares of
its Equity Interests (other than Disqualified Capital Stock); (ii) Subsidiaries of the Borrower may declare and pay dividends or distributions ratably with respect to their Equity Interests to the Borrower or any Wholly-Owned Subsidiary
Guarantor, (iii) the Permitted Parent Payments shall be permitted and (iv) the Permitted Tax Distributions shall be permitted so long as both before and after giving effect to each such Permitted Tax Distribution, no Default of Event of
Default has occurred and is continuing or would result therefrom. 
 2.3 Amendment to Section 9.14.
Section 9.14 is hereby amended and restated in its entirety to read as follows: 
 Section 9.14
Transactions with Affiliates. Each of the Parent and the Borrower will not, and will not permit any of its Subsidiaries to, enter into any transaction, including, without limitation, any purchase, sale, lease or exchange of Property or the
rendering of any service, with any Affiliate (other than the Wholly-Owned Subsidiary Guarantors), unless such transactions are not otherwise prohibited under this Agreement and are upon fair and reasonable terms no less favorable to it than it would
obtain in a comparable arm’s length transaction with a Person not an Affiliate; provided, however, that this Section 9.14 shall not be applicable to (i) any Permitted Parent Payments or (ii) any Permitted Tax Distributions
to the extent permitted by Section 9.04(a). 
 Section 3. Consent to Reorganization Transactions. The Lenders
(a) hereby agree that: 
 3.1 none of the Reorganization Transactions shall constitute a “Change of
Control”; 
 3.2 neither the application of the net proceeds of the IPO as described in the Registration
Statement nor the distribution by Parent of any Equity Interests of PEI pursuant to the Reorganization Transactions shall constitute a Restricted Payment that is prohibited by Section 9.04 (Restricted Payments); and 

3.3 none of the Reorganization Transactions shall constitute a transaction with an Affiliate in violation of
Section 9.14 (Transactions with Affiliates); and 
 (b) hereby waive any Default or Event of Default arising from, or as result of, the
foregoing. 
 The foregoing waivers are hereby granted to the extent and only to the extent specifically stated herein and for
no other purpose and shall not be deemed to (a) be a consent or agreement to, or waiver or modification of, or amendment to, any other term or condition of the Credit Agreement, any other Loan Document or any of the documents referred to
therein, (b) except as 

  
 5 

 
expressly set forth herein, prejudice any right or rights which the Administrative Agent or the Lenders may now have or may have in the future under or in connection with the Credit Agreement,
any other Loan Document or any of the documents referred to therein, or (c) constitute any course of dealing or other basis for altering any obligation of the Borrower or any right, privilege or remedy of the Administrative Agent or the Lenders
under the Credit Agreement, the other Loan Documents, or any other contract or instrument. Granting the waivers set forth herein does not and should not be construed to be an assurance or promise that consents or waivers will be granted in the
future, whether for the matters herein stated or on other unrelated matters. 
 Section 4. Conditions of
Effectiveness. This Fifth Amendment will become effective on the date on which each of the following conditions precedent are satisfied or waived (the “Fifth Amendment Effective Date”): 

(a) The Administrative Agent shall have received from the Borrower, the General Partner, the Parent, each other Obligor and the Majority
Lenders, counterparts (in such number as may be requested by the Administrative Agent) of this Fifth Amendment signed on behalf of such Person. 
 (b) The Administrative Agent and the Lenders shall have received all fees and other amounts due and payable on or prior to the date hereof. 

(c) No Default or Event of Default shall have occurred and be continuing as of the Fifth Amendment Effective Date. 

(d) The Administrative Agent shall have received such other documents as the Administrative Agent or its special counsel may reasonably
require. 
 The Administrative Agent is hereby authorized and directed to declare this Fifth Amendment to be effective when it
has received documents confirming compliance with the conditions set forth in this Section 4 or the waiver of such conditions as agreed to by the Lenders. Such declaration shall be final, conclusive and binding upon all parties to the Credit
Agreement for all purposes. 
 Section 5. Release of PEI as Loan Party. The Lenders party hereto hereby agree that,
upon the redemption of the Equity Interests of PEI held by Parent in accordance with Section 9.15 (Subsidiaries) and clause (e) of Section 9.12(Sale of Properties), (a) PEI shall automatically be released as a Guarantor under the
Guaranty Agreement and (b) the security interests of the Lenders and the Secured Swap Parties in any Collateral of PEI pursuant to any Security Instruments shall automatically be released. The Lenders party hereto hereby authorize the
Administrative Agent to enter into and file such further documentation, and to take such further actions, as the Borrower reasonably requests to effectuate the foregoing releases (including the filing of UCC termination statements). 

  
 6 

 Section 6. Miscellaneous. 

(a) Confirmation. The provisions of the Credit Agreement, as amended by this Fifth Amendment, shall remain in full force and
effect following the effectiveness of this Fifth Amendment. 
 (b) Ratification and Affirmation; Representations and
Warranties. Each Obligor hereby: (a) acknowledges the terms of this Fifth Amendment; (b) ratifies and affirms its obligations under, and acknowledges, renews and extends its continued liability under, each Loan Document to which it is
a party and agrees that each Loan Document to which it is a party remains in full force and effect, except as expressly amended hereby; (c) agrees that from and after the Fifth Amendment Effective Date each reference to the Credit Agreement in
the other Loan Documents shall be deemed to be a reference to the Credit Agreement, as amended by this Fifth Amendment; and (d) represents and warrants to the Lenders that as of the date hereof, after giving effect to the terms of this Fifth
Amendment: (i) all of the representations and warranties contained in each Loan Document to which it is a party are true and correct in all material respects (except that any representation and warranty that is qualified by materiality shall be
true and correct in all respects), except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to be true and correct in all material
respects (except that any representation and warranty that is qualified by materiality shall be true and correct in all respects) as of such specified earlier date, (ii) no Default or Event of Default has occurred and is continuing and
(iii) no event, development or circumstance has occurred or exists that has resulted in, or could reasonably be expected to have, a Material Adverse Effect. 
 (c) Counterparts. This Fifth Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to
constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Fifth Amendment by telecopy, facsimile, as an attachment to an email or other similar electronic means shall be effective as delivery of a
manually executed counterpart of this Fifth Amendment. 
 (d) NO ORAL AGREEMENT. THIS FIFTH AMENDMENT, THE CREDIT
AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL AGREEMENTS OF THE PARTIES.
THERE ARE NO SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES. 
 (e) GOVERNING LAW. THIS FIFTH AMENDMENT (INCLUDING, BUT
NOT LIMITED TO, THE VALIDITY AND ENFORCEABILITY HEREOF) SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS. 
 (f) Loan Document. This Fifth Amendment is a “Loan Document” as defined and described in the Credit Agreement and all of the terms and provisions of the Credit Agreement relating to Loan
Documents shall apply hereto. 

  
 7 

 (g) Payment of Expenses. In accordance with Section 12.03, the Borrower agrees
to pay or reimburse the Administrative Agent for all of its reasonable and documented out-of-pocket costs and expenses incurred in connection with this Fifth Amendment, any other documents prepared in connection herewith and the transactions
contemplated hereby, including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent. 
 (h) Severability. Any provision of this Fifth Amendment which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

(i) Successors and Assigns. This Fifth Amendment shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns. 
 [Signature Pages Follow] 

  
 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Fifth Amendment to be duly executed
and delivered by their proper and duly authorized officer(s) as of the day and year first above written. 
  

							
	BORROWER:	 		 	PARSLEY ENERGY, L.P.
				
		 		 	By:	 	PARSLEY ENERGY MANAGEMENT, LLC,
		 		 		 	its general partner
				
		 		 	By:	 	 /s/ Bryan Sheffield

		 		 	Name:	 	Bryan Sheffield
		 		 	Title:	 	President
			
	GENERAL PARTNER:	 		 	PARSLEY ENERGY MANAGEMENT, LLC
				
		 		 	By:	 	 /s/ Bryan Sheffield

		 		 	Name:	 	Bryan Sheffield
		 		 	Title:	 	President
			
	PARENT:	 		 	PARSLEY ENERGY, LLC
				
		 		 	By:	 	 /s/ Bryan Sheffield

		 		 	Name:	 	Bryan Sheffield
		 		 	Title:	 	President
			
	GUARANTOR:	 		 	PARSLEY ENERGY OPERATIONS, LLC
				
		 		 	By:	 	 /s/ Bryan Sheffield

		 		 	Name:	 	Bryan Sheffield
		 		 	Title:	 	Manager
			
	GUARANTOR:	 		 	PARSLEY ENERGY AVIATION, LLC
				
		 		 	By:	 	 /s/ Bryan Sheffield

		 		 	Name:	 	Bryan Sheffield
		 		 	Title:	 	Manager

 [Fifth Amendment Signature Page] 

							
	GUARANTOR:	 		 	PARSLEY ENERGY, INC.
				
		 		 	By:	 	 /s/ Bryan Sheffield

		 		 	Name:	 	
		 		 	Title:	 	
			
	GUARANTOR:	 		 	PARSLEY FINANCE CORP.
				
		 		 	By:	 	 /s/ Bryan Sheffield

		 		 	Name:	 	
		 		 	Title:	 	

  
 [Fifth
Amendment Signature Page] 

							
	ADMINISTRATIVE AGENT AND LENDER:	 		 	WELLS FARGO BANK, NATIONAL ASSOCIATION
				
		 		 	By:	 	 /s/ Edward Pak

		 		 	Name:	 	Edward Pak
		 		 	Title:	 	Director

  
 [Fifth
Amendment Signature Page] 

							
	LENDER:	 		 	JPMORGAN CHASE BANK, N.A.
				
		 		 	By:	 	 /s/ David Morris

		 		 	Name:	 	David Morris
		 		 	Title:	 	Authorized Officer

  
 [Fifth
Amendment Signature Page] 

							
	LENDER:	 		 	BMO HARRIS BANK, N.A.
				
		 		 	By:	 	 /s/ Gumaro Tijerina

		 		 	Name:	 	Gumaro Tijerina
		 		 	Title:	 	Managing Director

  
 [Fifth
Amendment Signature Page] 

							
	LENDER:	 		 	MORGAN STANLEY BANK, N.A.
				
		 		 	By:	 	 /s/ Dmitriy Barskiy

		 		 	Name:	 	Dmitriy Barskiy
		 		 	Title:	 	Authorized Signatory

  
 [Fifth
Amendment Signature Page] 

							
	LENDER:	 		 	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH
				
		 		 	By:	 	 /s/ Vipul Dhadda

		 		 	Name:	 	Vipul Dhadda
		 		 	Title:	 	Authorized Signatory
				
		 		 	By:	 	 /s/ Michael Spaight

		 		 	Name:	 	Michael Spaight
		 		 	Title:	 	Authorized Signatory

  
 [Fifth
Amendment Signature Page] 

							
	LENDER:	 		 	BOKF NA DBA BANK OF TEXAS
				
		 		 	By:	 	 /s/ Thomas E. Stelmar, Jr.

		 		 	Name:	 	Thomas E. Stelmar, Jr.
		 		 	Title:	 	Senior Vice President

  
 [Fifth
Amendment Signature Page] 

							
	LENDER:	 		 	WESTERN NATIONAL BANK
				
		 		 	By:	 	 /s/ Jack Herndon

		 		 	Name:	 	Jack Herndon
		 		 	Title:	 	Senior Vice President

  
 [Fifth
Amendment Signature Page] 

							
	LENDER:	 		 	ROYAL BANK OF CANADA
				
		 		 	By:	 	 /s/ Kristan Spivey

		 		 	Name:	 	Kristan Spivey
		 		 	Title:	 	Authorized Signatory

  
 [Fifth
Amendment Signature Page]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00231-of-00352.parquet"}]]