Document:

Exhibit 4.6

 

ENERGY XXI GULF COAST, INC.

2016 LONG TERM INCENTIVE PLAN

 

NOTICE OF GRANT OF RESTRICTED STOCK
UNIT

(Annual Director Award)

 

Pursuant to the terms
and conditions of the Energy XXI Gulf Coast, Inc. 2016 Long Term Incentive Plan, attached as Appendix A (the “Plan”),
and the associated Restricted Stock Unit Agreement, attached as Appendix B (the “Agreement”),
and the Annual Grant Settlement Election Form, attached as Exhibit C (the “Settlement Election Form”),
you are hereby granted an award to receive the number of Restricted Stock Units set forth below whereby each Restricted Stock Unit
represents the right to receive one share of Stock, plus rights to certain Dividend Equivalents described in Section 4 of the Agreement,
subject to certain restrictions thereon, and under the terms and conditions set forth below, in the Agreement, and in the Plan
(the “Restricted Stock Units”). Capitalized terms used but not defined herein shall have the meanings
set forth in the Plan.

 

	Grantee:	 	______________________
	 	 	 
	Date of Grant:	 	January 17, 2017 (“Date of Grant”)
	 	 	 
	Number of Restricted Stock Units:	 	____________
	 	 	 
	Vesting Schedule:	 	
        The Forfeiture Restrictions on the Restricted
        Stock Units granted pursuant to the Agreement will expire and the Restricted Stock Units will vest and become nonforfeitable pursuant
        to Section 6 of the Agreement as follows: one-half of the Restricted Stock Units on the Date of Grant (the “First Tranche”)
        and one-half of the Restricted Stock Units on January 31, 2018 (the “Second Tranche”), provided,
        however, that, except as otherwise provided in the Agreement, such Restricted Stock Units will vest on such dates only if
        you remain a director of or a service provider to the Company or its Subsidiaries continuously from the Date of Grant through the
        applicable vesting date.

         

        Notwithstanding the foregoing, in the event
        of (i) a Change of Control, (ii) a separation from service by reason of death, or (iii) a separation from service by reason of
        Disability (as defined below), any Restricted Stock Units that are unvested on the date of such event shall become vested on such
        date.

         

        “Disability”
        means, as determined by the Board or the Committee, in its sole discretion exercised in good faith, a physical or mental impairment
        of sufficient severity that you are either unable to perform the essential functions of your position, with or without a reasonable
        accommodation for your disability, or to perform the essential functions of your position without an accommodation that would be
        an undue hardship for the Company or a Subsidiary to provide.

 

     

     

    

 

Page 2

 

	Settlement Events:	 	Stock will become issuable and Dividend Equivalents payable as to the First Tranche on the earlier to occur of (i) a Change of Control or (ii) a “separation from service” within the meaning of the Nonqualified Deferred Compensation Rules (such event and the vesting date with respect to the Second Tranche, a “Settlement Event”).  Absent a provision in the Agreement or the Plan to the contrary, Stock and Dividend Equivalents with respect to the First Tranche will be delivered to you no later than 45 days following such Settlement Event.
	 	 	 
	 	 	Stock will become issuable and Dividend Equivalents payable as to the Second Tranche on the date elected by you on a timely submitted Settlement Election Form or, if no such form is timely submitted by you, then on the date of vesting of the Restricted Stock Units.  Absent a provision in the Agreement or the Plan to the contrary, Stock and Dividend Equivalents with respect to the Second Tranche, to the extent vested, will be delivered to you no later than 45 days following the Settlement Event.

 

By your signature and
the signature of the Company’s representative below, you and the Company hereby acknowledge receipt of the Restricted Stock
Units issued on the Date of Grant indicated above, which have been granted under the terms and conditions of this Notice of Grant
of Restricted Stock Units (the “Notice of Grant”), 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 Notice of Grant and your receipt and holding of and the vesting
of the Restricted Stock Units, 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 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 and holding of and the vesting of the Restricted Stock Units. 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 applicable law. This consent shall be effective for the entire time that you are a participant in the
Plan.

 

    	 		 

     

    

 

Page 3

 

By signing this Notice
of Grant you acknowledge receipt of a copy of the Plan and the Agreement and agree to all of the terms and conditions of this Notice
of Grant and of the Plan and the Agreement, which are incorporated in this Notice of Grant by reference.

 

    	 		 

     

    

 

Page 4

 

	ENERGY XXI GULF COAST, Inc.,	 
	a Delaware corporation	 
	 	 	 
	By:	 	 
	 	 	 
	Name:  [_________________]	 
	Title:    [_________________]	 

 

	Accepted by:	 
	 	 
	 	 
	[GRANTEE]	 
	 	 
	Date:________________________________	 

 

Attachments:

 

Appendix A –
Energy XXI Gulf Coast, Inc. 2016 Long Term Incentive Plan

 

Appendix B –
Restricted Stock Unit Agreement

 

Appendix C –
Annual Grant Settlement Election Form

 

    	 		 

     

    

 

Appendix A

 

Energy XXI Gulf Coast, Inc.

2016 Long Term Incentive Plan

 

    	 	5	 

     

    

 

Appendix B

 

Restricted Stock Unit Agreement

 

    	 	6	 

     

    

 

Appendix C

 

Annual Grant Settlement Election Form

 

    	 	7Exhibit 4.7

 

INITIAL GRANT

 

ENERGY XXI GULF COAST, INC.

2016 LONG TERM INCENTIVE PLAN

RESTRICTED STOCK UNIT

INITIAL GRANT SETTLEMENT ELECTION FORM

 

Please complete this Initial Grant Settlement
Election Form (this “Form”) and return a signed copy to the [_____] of Energy XXI Gulf Coast, Inc. (the
“Company”). Any capitalized terms used but not defined in this Form shall have the meaning set forth
in the Energy XXI Gulf Coast, Inc. 2016 Long Term Incentive Plan (the “Plan”), the Restricted Stock Unit
Agreement (the “Award Agreement”), or the applicable Notice of Grant (the “Notice of Grant”).

 

	Name:	 	 

 

NOTE: This Form relates to your initial
award of Restricted Stock Units (the “Initial Award”). You are eligible to participate in the non-qualified
deferred compensation plan (within the meaning of the Nonqualified Deferred Compensation Rules) pursuant to which you may defer
the settlement of Restricted Stock Units. You may complete and return this Form any time prior to January 31, 2017; however, if
you wish to defer the settlement of the entire Initial Award you must return the Form no later than the Date of Grant of the Initial
Award. If you return this Form after the Date of Grant of the Initial Award but prior to January 31, 2017 you may only defer a
pro-rata portion of the Initial Award calculated by multiplying the number of Restricted Stock Units included in the Initial Award
by a fraction, the numerator of which is the number of days from the date of your election through December 31, 2019, and the denominator
of which is the total number of days from the Date of Grant of the Initial Award (January 17, 2017) through December 31, 2019.
If you do not wish to make a deferral election, no action is required on your part and the Initial Award will be settled at the
time specified in your Award Agreement and Notice of Grant. 

 

		1.	Settlement of Restricted Stock Units

 

Irrespective of your
election below, the Restricted Stock Units will continue to be subject to the terms of the Plan, the Award Agreement, and the Notice
of Grant for the Initial Award in addition to this Form. In order to defer the settlement of the Initial Award you must sign this
form and return it to the Company.

 

Recognizing that such election
is contingent in all respects upon the prior vesting of the Initial Award, I hereby irrevocably elect to receive the Stock and
any Dividend Equivalents issuable pursuant to the Initial Award upon the earliest to occur of (i) a Change of Control (as defined
in the Plan) or (ii) my “separation from service” within the meaning of the Nonqualified Deferred Compensation Rules
(as defined in the Plan and subject to any limitations described in my Notice of Grant or Award Agreement)

 

		2.	Signature

 

I understand that my right to settlement
of the Stock and Distribution Equivalents pursuant to the Award Agreement and Notice of Grant is subject to the rights of the Company’s
creditors in the event of the Company’s insolvency. I further understand that this Form will be effective upon the later
of (i) the Date of Grant of the Initial Award and (ii) receipt of this Form by the Company and, once effective, shall be irrevocable.

 

By executing this Form, I hereby acknowledge
my understanding of and agreement with the terms and provisions set forth in this Form, the Plan, the Award Agreement, and the
Notice of Grant.

 

     

     

    

 

	DIRECTOR	 	ENERGY XXI GULF COAST, INC.
	 	 	 	 	 
	By:	 	 	By:	 
	 	 	 	 	 
	Name:	 	 	Name:	 
	 	 	 	 	 
	Date:	 	 	Title:	 
	 	 	 	 	 
	 	 	 	Date:	 

 

    	 	2

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