Document:

EX-10.3

 Exhibit 10.3 

Executive Employment Agreement 

This Employment Agreement (the “Agreement”) is made and entered into as of March 21, 2018 (the “Effective Date”) by
and between Michele Greco, an individual residing at 4516 Roslyn Road, Downers Grove, IL 60515 (the “Executive”) and Veru Inc., a Wisconsin corporation with its corporate headquarters at 4400 Biscayne Blvd., Suite 888, Miami FL
33137 (the “Company”). 
 WHEREAS, the Company desires to employ the Executive on the terms and conditions set forth
herein; 
 WHEREAS, the Executive desires to be employed by the Company on such terms and conditions; and 

WHEREAS, it is a condition precedent of Executive’s employment hereunder that Executive sign this Agreement. 

NOW, THEREFORE, in consideration of the mutual covenants, promises and obligations set forth herein, the parties agree as follows: 

1. Employment At-Will; Start Date. The Executive’s employment hereunder shall be for no definite or determinable period of time and the
Executive’s employment hereunder may be terminated by either the Company or the Executive at any time and for any reason subject to the provisions of Section 5 below. The start date for the Executive will be immediately upon execution of
this Agreement by both Executive and Company. 
 2. Position and Duties. 

(a) Position. During the Executive’s employment with the Company, the Executive shall serve as Chief Financial Officer and
Chief Administrative Officer, subject to the Company’s Board approval of the new role by resolution or consent at the next reasonably practicable time. In such position, the Executive shall have such duties as shall be determined from time to
time by the Company’s Chief Executive Officer and President (“CEO”). The Executive shall report directly to the CEO. 
 (b)
Duties. During the Executive’s employment with the Company pursuant to this Agreement, the Executive shall devote substantially all of her business time and attention to the performance of the Executive’s duties hereunder and
will not engage in any other business, profession or occupation for compensation or otherwise which would conflict or interfere with the performance of such services either directly or indirectly without the prior written consent of the CEO.
Notwithstanding the foregoing, the Executive will be permitted to (a) with the prior consent of the CEO and which consent can be withheld by the CEO in his discretion, act or serve 

 
as a director, trustee, committee member or principal of any type of business, civic or charitable organization as long as such activities are disclosed in writing to the Company’s CEO, and
(b) purchase or own less than five percent (5%) of the publicly traded securities of any corporation; provided that, such ownership represents a passive investment and that the Executive is not a controlling person of, or a member of a
group that controls, such corporation; provided further that, the activities described in clauses (a) and (b) do not interfere with the performance of the Executive’s duties and responsibilities to the Company as provided hereunder,
including, but not limited to, the obligations set forth in this Section 2. 
 3. Place of Performance. The principal place of
Executive’s employment shall be: (i) Executive’s home office located at 4516 Roslyn Road, Downers Grove, IL 60515; or alternatively (ii) at the request of the Company’s CEO, a future Company office located in
Executive’s current Chicago metropolitan area, if and when such Company office is established; or alternatively, (iii) potentially in the future should the Company’s CEO request, and should the Executive mutually agree, the
Company’s headquarters at 4400 Biscayne Blvd., Suite # 888, Miami FL 33137; any of (i) or (ii) or (iii) preceding could be considered as Executive’s principal place of employment for purposes of this Agreement. Should
the Executive relocate to Miami at the Company’s request and with agreement of the Executive, the Company shall pay Executive’s reasonable relocation expenses. Executive will be required to travel on Company business during the
Executive’s employment with the Company. 
 4. Compensation. 

4.1 Base Salary. Subject to section 5.2(b)(i) hereof, the Company shall pay the Executive an annual rate of base salary of
three hundred thousand dollars ($300,000) in periodic installments in accordance with the Company’s customary payroll practices, but no less frequently than monthly. The Executive’s base salary shall be reviewed at least annually by the
Company’s CEO, and the CEO may, but shall not be required to, increase the base salary during the Executive’s employment with the Company. The Executive’s annual base salary, as in effect from time to time, is hereinafter referred to
as “Base Salary”. 
 4.2 Annual Cash Incentive Bonus. 

(a) For each fiscal year during the Executive’s employment pursuant to this Agreement, the Executive shall be eligible to receive an
annual cash incentive bonus equal to forty-five percent (45%) of her Base Salary based on meeting certain Company and personal goals to be mutually agreed upon by the Executive and the CEO (the “Annual Bonus”). However, the decision
to provide any Annual Bonus and the amount and terms of any Annual Bonus shall be at the discretion of the Company’s CEO. 
 (b) The
Annual Bonus, if any, will be paid no later than the end of the first quarter of the fiscal year after the fiscal year in which an Annual Bonus, if any, is awarded; provided, 

  
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however, that in order to be entitled to an Annual Bonus the Executive must be employed by the Company on the date of payment thereof, except as expressly otherwise provided herein, such as
section 5.2(a)(ii) in the event of termination by the Company without cause or by the Executive for good reason. 
 4.3 Equity
Awards. Executive is eligible to participate in the Veru Inc. Equity Incentive Plan. Any grant of equity is subject both to share availability and to the discretion of the Board’s Compensation Committee and the Company cannot guarantee
this award at this time. 
 4.4 Employee Benefits. During the Executive’s employment with the Company pursuant to this
Agreement, the Executive shall be entitled to participate in all employee benefit plans, practices and programs maintained by the Company, as in effect from time to time, including any applicable 401(k) Plan (collectively, “Employee
Benefit Plans”) on a basis that is at least as favorable as those provided to other similarly situated executives of the Company and to the extent consistent with applicable law, the terms of the applicable Employee Benefit Plans, and
the Company’s policy for sharing the cost of such benefits as in effect from time to time. The Company reserves the right to amend or cancel any Employee Benefit Plans at any time in its sole discretion, subject to the terms of such Employee
Benefit Plans and applicable law. Notwithstanding the foregoing, in lieu of Executive participating in any US health insurance program offered by the Company or provided to the Company’s employees, and the Executive hereby waives her right to
participate in any such health or medical program, the Company will pay Executive the amount of $598.00 (“Insurance Payment”) on a monthly basis, less applicable taxes. For the avoidance of doubt, the Executive will be eligible to
participate in the remaining dental, vision, disability and life insurance programs of which the premiums are currently fully paid by the Company. To the extent that the Executive incurs any applicable United States federal or state ordinary income
tax liability on account of the Insurance Payment, the Insurance Payment shall be increased to the extent necessary to reimburse the Executive for all such applicable taxes incurred as a result of the payment of the Insurance Payment. 

4.5 Vacation; Paid Time-off. During the Executive’s employment with Company pursuant to this Agreement, the Executive will
be entitled to accrue four weeks (4) paid vacation per fiscal year. The Executive shall receive other paid time-off in accordance with the Company’s policies for officers as such policies may exist from time to time. 

4.6 Business Expenses. The Executive shall be entitled to reimbursement for all reasonable and necessary out-of-pocket business,
entertainment and travel expenses incurred by the Executive in connection with the performance of the Executive’s duties hereunder in accordance with the Company’s expense reimbursement policies and procedures. 

5. Termination of Employment. This Agreement and the Executive’s employment hereunder are for no definite or determinable period of time and
may be terminated by either the Company or the Executive at any time and for any reason subject to the provisions of this Section 5. Upon termination of this Agreement and the Executive’s employment hereunder, the Executive shall be
entitled to the compensation and benefits described in this Section 5 and shall have no further rights to any compensation or any other benefits from the Company or any of its affiliates. 

  
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 5.1 Termination by the Company for Cause or by the Executive without Good Reason. 

(a) The Executive’s employment hereunder may be terminated by the Company immediately for Cause (as defined below) or by the Executive
without Good Reason (as defined below). If the Executive’s employment is terminated by the Company for Cause or by the Executive without Good Reason, the Executive shall be entitled to receive: 

 

	 	(i)	any accrued but unpaid Base Salary and accrued but unused vacation which shall be paid on the pay date immediately following the Termination Date (as defined below) in accordance with the Company’s customary
payroll procedures; 

  

	 	(ii)	any unpaid Annual Bonus with respect to any completed fiscal year immediately preceding the Termination Date, if the Executive was still employed by the Company on the last day of the first quarter of the fiscal year
after the fiscal year in which an Annual Bonus, if any, was awarded; provided further that, if the Executive’s employment is terminated by the Company for Cause, then any such unpaid Annual Bonus shall be forfeited; 

 

	 	(iii)	reimbursement for unreimbursed business expenses properly incurred by the Executive, which shall be subject to and paid in accordance with the Company’s expense reimbursement policy; and 

 

	 	(iv)	such employee benefits (including equity compensation), if any, to which the Executive may be entitled under the Company’s Employee Benefit Plans as of the Termination Date; provided, however, that, if the
Executive’s employment is terminated by the Company for Cause, the Executive will not be entitled to any unvested equity and shall forfeit any vested equity compensation not already received by the Executive. 

Items 5.1(a)(i) through 5.1(a)(iv) are referred to herein collectively as the “Accrued Amounts”. 

(b) For purposes of this Agreement, “Cause” shall mean: 
  

	 	(i)	the Executive’s failure to perform her duties (other than any such failure resulting from incapacity due to physical or mental illness or disability); 

 

	 	(ii)	the Executive’s failure to comply with any valid and legal directive of the CEO; 

  

	 	(iii)	the Executive’s engagement in dishonesty, illegal conduct or misconduct, which is, in each case, injurious to the Company or its affiliates; 

  
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	 	(iv)	the Executive’s embezzlement, misappropriation or fraud, whether or not related to the Executive’s employment with the Company; 

 

	 	(v)	the Executive’s conviction of or plea of guilty or nolo contendere to a crime that constitutes a felony (or state law equivalent) or a crime that constitutes a misdemeanor involving moral turpitude or results in
harm to the Company or its affiliates; 

  

	 	(vi)	the Executive’s breach of the duty of loyalty or breach of fiduciary duty; 

  

	 	(vii)	the Executive’s unauthorized disclosure of Confidential Information (as defined below); 

  

	 	(viii)	Executive’s material breach of any material obligation under this Agreement or any other written agreement between the Executive and the Company; or 

 

	 	(ix)	any material failure by the Executive to comply with the Company’s written policies or rules, as they may be in effect from time to time during the Executive’s employment with the Company. 

5.2 Termination by the Company Without Cause or by the Executive for Good Reason. 

(a) This Agreement and the Executive’s employment hereunder may be terminated by the Company without Cause or by the Executive for Good
Reason in accordance with the provisions set forth herein. In the event of such termination, the Executive shall be entitled to receive the Accrued Amounts and, subject to the Executive’s compliance with Sections 6 through 9 of this Agreement
and her execution of a general release of claims in favor of the Company and all of its related entities and individuals (the “Release”), which shall include a re-affirmation of Executive’s non-disparagement obligation and her
obligation to comply with Sections 6 through 9 of this Agreement and such Release becoming effective within the number of days permitted under applicable law following the Termination Date (the “Release Effective Date”), the Executive
shall be entitled to receive the following: 
  

	 	(i)	continued Base Salary for twelve (12) months following the Termination Date payable in equal installments in accordance with the Company’s normal payroll practices, but no less frequently than monthly, which
shall commence on the Company’s regular pay day for the pay period immediately following the pay period that includes the Release Effective Date; 

  

	 	(ii)	any unpaid Annual Bonus with respect to any completed fiscal year immediately preceding the Termination Date if the Executive was still employed by the Company on the last day of the preceding fiscal year;

  

	 	(iii)	a pro-rated payment equal to the Executive’s target bonus for the year in which the Termination occurs as defined in section 4.2(a) hereof multiplied by the percentage of days the Executive was employed by the
Company in the year of termination, and payable as and when such bonuses are normally paid for other executives of the Company; and 

  
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	 	(iv)	if the Executive timely and properly elects health continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) or comparable State continuation law, the Company
shall reimburse the Executive for the difference between the monthly COBRA or comparable State continuation law premium paid by the Executive for herself and her dependents and the monthly premium amount paid by similarly situated active executives.
Such reimbursement shall be paid to the Executive on the fifteenth of the month immediately following the month in which the Executive timely remits the premium payment. The Executive shall be eligible to receive such reimbursement until the
earliest of: (i) the twelve (12) month anniversary of the Termination Date; (ii) the date the Executive (in the case of her) or any of her dependents (in the case of such dependent) is no longer eligible to receive COBRA or comparable
State law continuation coverage; and (iii) the date on which the Executive (in the case of her) or any of her dependents (in the case of such dependent) becomes eligible to receive substantially similar coverage from another employer or other
source. 

 (b) For purposes of this Agreement, “Good Reason” shall mean the occurrence of any of the
following, in each case during the Executive’s employment under this Agreement without the Executive’s written consent: 
  

	 	(i)	a reduction in the Executive’s Base Salary of more than ten percent (10%) other than a general reduction in Base Salary that affects all similarly situated executives in substantially the same proportions;

  

	 	(ii)	a relocation of the Executive’s principal place of employment outside of the metropolitan area where the Executive currently has her principal office; 

 

	 	(iii)	any material breach by the Company of any material provision of this Agreement; or 

  

	 	(iv)	a material, adverse change in the Executive’s authority, duties or responsibilities (other than temporarily while the Executive is physically or mentally incapacitated or as required by applicable law) taking into
account the Company’s size, status as a public company and capitalization as of the date of this Agreement. 

 The
Executive cannot terminate her employment for Good Reason unless she has provided written notice to the Company of the existence of the circumstances providing grounds 

  
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for termination for Good Reason within thirty (30) days of the initial existence of such grounds, and the Company has had thirty (30) days from the date on which such notice is provided
to cure such circumstances. If the Company has not cured such Good Reason within thirty (30) days of such notice, the Executive shall have up to thirty (30) days after such cure period to terminate her employment hereunder for Good Reason.
If the Executive does not provide written notice to the Company to terminate her employment for Good Reason within the time period specified herein, then the Executive will be deemed to have waived her right to terminate for Good Reason with respect
to such grounds. 
 5.3 Death or Disability. 

(a) The Executive’s employment hereunder shall terminate automatically upon the Executive’s death during the Executive’s
employment under this Agreement, and the Company may terminate the Executive’s employment on account of the Executive’s Disability (as defined below). 

(b) If the Executive’s employment is terminated during the Employment Term on account of the Executive’s death or Disability, the
Executive (or the Executive’s estate and/or beneficiaries, as the case may be) shall be entitled to receive the following: 
  

	 	(i)	pay for any of the Executive’s accrued but unpaid Base Salary and the Executive’s accrued but unused vacation as of the date of death or Disability; 

 

	 	(ii)	any earned but unpaid Annual Bonus with respect to any completed fiscal year immediately preceding the Executive’s date of death or Disability, if the Executive was still employed by the Company on the last day of
the preceding fiscal year; 

  

	 	(iii)	reimbursement for unreimbursed business expenses properly incurred by the Executive, which shall be subject to and paid in accordance with the Company’s expense reimbursement policy; and 

 

	 	(iv)	such employee benefits (including equity compensation), if any, to which the Executive may be entitled under the Company’s Employee Benefit Plans as of the date of the Executive’s death or Disability.

 (c) For purposes of this Agreement, “Disability” shall mean the Executive is entitled to receive long-term
disability benefits under the Company’s long-term disability plan, or if there is no such plan, the Executive’s inability, due to physical or mental incapacity, to substantially perform all of the essential duties and responsibilities
under this Agreement, with or without reasonable accommodation, for one hundred eighty (180) days out of any three hundred sixty-five (365) day period or one hundred twenty (120) consecutive days; provided however, in the event the
Company temporarily replaces the Executive, or transfers the Executive’s duties or responsibilities to another individual on account of the Executive’s inability to perform such 

  
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duties due to a mental or physical incapacity which is, or is reasonably expected to become, a Disability, then the Executive’s employment shall not be deemed terminated by the Company and
the Executive shall not be able to resign with Good Reason as a result thereof. Any question as to the existence of the Executive’s Disability as to which the Executive and the Company cannot agree shall be determined in writing by a qualified
independent physician mutually acceptable to the Executive and the Company. If the Executive and the Company cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third who
shall make such determination in writing. The determination of Disability made in writing to the Company and the Executive shall be final and conclusive for all purposes of this Agreement. 

5.4 Change in Control Termination. 

(a) Notwithstanding any other provision contained herein, if the Executive’s employment hereunder is terminated by the Executive for Good
Reason or by the Company without Cause (other than on account of the Executive’s death or Disability) within six (6) months following a Change in Control, the Executive shall be entitled to receive, subject to the Executive’s
compliance with Sections 6 through 9 of this Agreement and her execution of the Release and reaffirmations referred to in Section 5.2, the following: 
  

	 	(i)	all items of compensation set forth in Section 5.2(a)(i-iv); and 

  

	 	(ii)	acceleration of unvested equity compensation in accordance with the terms of the Company’s applicable equity compensation plans and grant agreements. 

(b) For purposes of this Agreement, “Change in Control” shall have the meaning set forth in the Company’s
applicable equity plans and grant agreements. 
 5.5 Notice of Termination. Any termination of the Executive’s employment hereunder by the
Company or by the Executive during the Executive’s employment under this Agreement (other than termination pursuant to Section 5.3(a) on account of the Executive’s death) shall be communicated by written notice of termination
(“Notice of Termination”) to the other party hereto in accordance with Section 25 of this Agreement. The Notice of Termination shall specify: 

(a) The termination provision of this Agreement relied upon; 

(b) To the extent applicable, the facts and circumstances claimed to provide a basis for termination of the Executive’s
employment under the provision so indicated; and 
 (c) The applicable Termination Date. 

  
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 5.6 Termination Date. The Executive’s “Termination Date” shall be:

 (a) If the Executive’s employment hereunder terminates on account of the Executive’s death, the date of the Executive’s
death; 
 (b) If the Executive’s employment hereunder is terminated on account of the Executive’s Disability, the date that it is
specified in the Company’s Notice of Termination after it is determined that the Executive has a Disability; 
 (c) If the Company
terminates the Executive’s employment hereunder for Cause, the date the Notice of Termination is delivered to the Executive; 
 (d) If
the Company terminates the Executive’s employment hereunder without Cause, the date specified in the Notice of Termination, which shall be no less than ten (10) business days following the date on which the Notice of Termination is
delivered; provided that during said notice period, the Company shall have the right to change or eliminate the Executive’s duties within its discretion, which shall not be deemed a Good Reason hereunder; 

(e) If the Executive terminates employment hereunder with or without Good Reason, the date specified in the Executive’s Notice of
Termination, which shall be no less than ten (10) business days following the date on which the Notice of Termination is delivered; provided that, the Company may waive all or any part of the ten (10) day notice period without further
accrual or payment of salary or benefits upon written notice to the Executive, and the Executive’s Termination Date shall be the date determined in such notice by the Company; 

Notwithstanding anything contained herein, the Termination Date shall not occur until the date on which the Executive incurs a
“separation from service” within the meaning of Section 409A. 
 5.7 Resignation of All Other Positions. Upon termination of the
Executive’s employment hereunder for any reason, the Executive shall be deemed to have resigned from all positions that the Executive holds as an officer or member of the board of directors (or a committee thereof) of the Company or any of its
affiliates. 
 5.8 Section 280G. 

(a) If any of the payments or benefits received or to be received by the Executive (including, without limitation, any payment or benefits
received in connection with a Change in Control or the Executive’s termination of employment, whether pursuant to the terms of this Agreement or any other plan, arrangement or agreement, or otherwise) (all such payments collectively referred to
herein as the “280G Payments”) constitute “parachute payments” within the meaning of Section 280G of the Code and would, but for this Section 5.8, be subject to the excise tax imposed under Section 4999 of the Code
(the “Excise Tax”), then prior to making the 280G Payments, a calculation shall be made comparing (i) the Net Benefit (as defined below) to the Executive of the 280G Payments after payment of the Excise Tax to (ii) the Net
Benefit to the Executive if the 280G Payments are limited to the extent necessary to avoid being subject to the 

  
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Excise Tax. Only if the amount calculated under (i) above is less than the amount under (ii) above will the 280G Payments be reduced to the minimum extent necessary to ensure that no
portion of the 280G Payments is subject to the Excise Tax. “Net Benefit” shall mean the present value of the 280G Payments net of all federal, state, local, foreign income, employment and excise taxes. Any reduction made
pursuant to this Section 5.9 shall be made in a manner determined by the Company that is consistent with the requirements of Section 409A. 

(b) Unless the Company and the Executive otherwise agree, all calculations and determinations under this Section 5.8 shall be made by an
independent accounting firm whose determinations shall be conclusive and binding on the Company and the Executive for all purposes. For purposes of making the calculations and determinations required by this Section 5.8, the accounting firm may
rely on reasonable, good faith assumptions and approximations concerning the application of Section 280G and Section 4999 of the Code. The Company and the Executive shall furnish the accounting firm with such information and documents as
the accounting firm may reasonably request in order to make its determinations under this Section 5.8. The Company shall bear all costs the accounting firm may reasonably incur in connection with its services as contemplated by this provision.

 6. Cooperation. The parties agree that certain matters in which the Executive will be involved during her employment with the Company may
necessitate the Executive’s cooperation in the future. Accordingly, following the termination of the Executive’s employment for any reason, to the extent reasonably requested by the Company’s CEO, the Executive shall cooperate with
the Company in connection with matters arising out of the Executive’s service to the Company; provided that, the Company shall make reasonable efforts to minimize disruption of the Executive’s other activities. The Company shall reimburse
the Executive for reasonable expenses incurred in connection with such cooperation and, to the extent that the Executive is required to spend substantial time on such matters, the Company shall compensate the Executive at an hourly rate based on the
Executive’s Base Salary on the Termination Date. 
 7. Confidential Information. The Executive understands and acknowledges that during
her employment with the Company, she will have access to and learn about Confidential Information, as defined below. 
 7.1 Confidential Information
Defined; Restrictions. 
 (a) Definition. 

For purposes of this Agreement, “Confidential Information” includes, but is not limited to, all information not known
to the public, in spoken, printed, electronic or any other form or medium, relating directly or indirectly to: business processes, methods, policies, plans, publications, documents, research, operations, strategies, techniques, contracts,
transactions, potential transactions, negotiations, pending negotiations, know-how, trade secrets, computer programs, computer software, applications, operating systems, software design, web design, work-in-process, databases, manuals, records,
articles, systems, material, sources of material, 

  
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supplier information, vendor information, financial information, accounting information, accounting records, legal information, marketing information, advertising information, pricing
information, design information, payroll information and staffing information, personnel information, employee lists, supplier lists, vendor lists, developments, reports, internal controls, security procedures, graphics, drawings, sketches, market
studies, sales information, revenue, costs, formulae, product plans, designs, models, ideas, inventions, unpublished patent applications, discoveries, experimental processes, experimental results, specifications, customer or client information or
lists, manufacturing information, distributor lists, and buyer lists of the Company, and any information about or from any existing or prospective customer, supplier, investor or other associated third party, or of any other person or entity that
has entrusted information to the Company in confidence. 
 The Executive understands that the above list is not exhaustive, and that
Confidential Information also includes other information that is marked or otherwise identified as confidential or proprietary, or that would otherwise appear to a reasonable person to be confidential or proprietary in the context and circumstances
in which the information is known or used. 
 The Executive understands and agrees that Confidential Information includes information
developed by her in the course of her employment by the Company as if the Company furnished the same Confidential Information to the Executive in the first instance. Confidential Information shall not include (i) information that is or becomes
publicly known to others who are not under a confidentiality obligation to the Company, without breach by the Executive of Section 7.1 (c) below or (ii) information provided to the Executive by a third party who is not under a
confidentiality obligation benefitting the Company or others with respect to the information. The Executive understands and agrees that all Company Confidential Information constitutes trade secrets under Florida law and any other applicable law.

 (b) Company Creation and Use of Confidential Information. 

The Executive understands and acknowledges that the Company has invested, and continues to invest, substantial time, money and specialized
knowledge into developing its resources, creating a customer base, generating customer and potential customer lists, training its employees (including the Executive), and improving its offerings in the field of diversified drugs, therapeutics and
medical devices for men’s and women’s reproductive health, urology and oncology. The Executive understands and acknowledges that as a result of these efforts, the Company has created, and continues to use and create Confidential
Information. This Confidential Information provides the Company with a competitive advantage over others in the marketplace. 
 (c)
Disclosure and Use Restrictions. 
 The Executive agrees and covenants: (i) to treat all Confidential Information as
strictly confidential; (ii) not to directly or indirectly disclose, publish, communicate or make available Confidential Information, or allow it to be disclosed, published, communicated or made available, in whole or part, to any entity or
person whatsoever (including other employees of the Company) not having a need to know and authority to know and use the Confidential 

  
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Information in connection with the business of the Company and, in any event, not to anyone outside of the direct employ of the Company except as required in the performance of the
Executive’s authorized employment duties to the Company or with the prior consent of the CEO acting on behalf of the Company in each instance (and then, such disclosure shall be made only within the limits and to the extent of such duties or
consent); and (iii) not to access or use any Confidential Information, and not to copy any documents, records, files, media or other resources containing any Confidential Information, or remove any such documents, records, files, media or other
resources from the premises or control of the Company, except as required in the performance of the Executive’s authorized employment duties to the Company or with the prior consent of the CEO acting on behalf of the Company in each instance
(and then, such disclosure shall be made only within the limits and to the extent of such duties or consent). Nothing herein shall be construed to prevent disclosure of Confidential Information as may be required by applicable law or regulation, or
pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required by such law, regulation or order. The Executive shall promptly
provide written notice of any such order to Company’s Executive Vice President-Legal. While complying with this Section 7.1 to the greatest extent possible, nothing herein prohibits the Executive from reporting possible violations of
federal law or regulation to any governmental agency from or making other disclosures under the whistleblower provisions of federal or state law or regulation. Executive is not required to notify the Company if Executive makes such reports or
disclosures. 
 The Executive understands and acknowledges that her obligations under this Agreement with regard to any particular
Confidential Information shall commence immediately upon the Executive first having access to such Confidential Information (whether before or after she begins employment by the Company) and shall continue during and after her employment by the
Company until such time as such Confidential Information has become public knowledge other than as a result of the Executive’s breach of this Agreement or breach by those acting in concert with the Executive or on the Executive’s behalf.

 (d) Defend Trade Secrets Act Notice 

Executive is hereby notified in accordance with the Defend Trade Secrets Act of 2016 that she will not be held criminally or civilly liable
under any federal or state trade secret law for the disclosure of a trade secret that: (i) is made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of
reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. Executive is further notified that if Executive files a lawsuit for
retaliation by an employer for reporting a suspected violation of law, Executive may disclose the employer’s trade secrets to Executive’s attorney and use the trade secret information in the court proceeding if Executive: (i) files
any document containing the trade secret under seal; and (ii) does not disclose the trade secret, except pursuant to court order. 

  
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 8. Restrictive Covenants. 

8.1 Acknowledgement. The Executive understands that the nature of the Executive’s position gives her access to and knowledge
of Confidential Information and places her in a position of trust and confidence with the Company. The Executive understands and acknowledges that the intellectual services she provides to the Company are unique, special or extraordinary because of
her knowledge, experience, training and expertise in the areas and disciplines for which the Company has chosen to employ her. 
 The
Executive further understands and acknowledges that the Company’s ability to reserve these for the exclusive knowledge and use of the Company is of great competitive importance and commercial value to the Company, and that improper use or
disclosure by the Executive is likely to result in unfair or unlawful competitive activity. 
 8.2 Non-competition. Because of
the Company’s legitimate business interest as described herein and the good and valuable consideration offered to the Executive, during the Executive’s employment with the Company and for the period of two (2) years beginning on the
last day of the Executive’s employment with the Company (the “Restricted Period”), whether employment is terminated at the option of the Executive or the Company, the Executive agrees and covenants not to engage in Prohibited Activity
that is, or is expected to be, competitive with the Company’s female condom, diversified drugs, therapeutics and medical device businesses and in the fields of men’s and women’s reproductive health, urology and oncology
(“Prohibited Field”). 
 8.3 Prohibited Activity. For purposes of this Section 8, “Prohibited
Activity” is activity in which the Executive contributes her knowledge, services and/or financial support, directly or indirectly, in whole or in part, as an owner, operator, manager, advisor, lender, investor, consultant, agent,
employee, partner, director, stockholder, officer, volunteer, intern or any other similar capacity to an entity or person engaged in the same or similar business as the Company, including those engaged in the Prohibited Field, within the United
States and any other countries in which the Company sells, markets and/or develops its products and/or services. Prohibited Activity also includes activity that may require or inevitably requires disclosure of Company trade secrets or other
Confidential Information. Nothing herein shall prohibit the Executive from purchasing or owning less than five percent (5%) of the publicly traded securities of any corporation, provided that such ownership represents a passive investment and
that the Executive is not a controlling person of, or a member of a group that controls, such corporation. 
 8.4
Non-solicitation of Employees. The Executive agrees that the Company has made a substantial investment in its employees in order to retain their services and valuable contribution to its business, and to minimize turnover and
recruitment training time and cost. Therefore, to protect this legitimate interest of the Company, the Executive agrees and covenants not to directly or indirectly, on Executive’s own behalf or on behalf of any other person or entity, solicit,
hire, recruit, attempt to hire or recruit, or induce the termination of employment of any employee of the Company during the Restricted Period. 

  
 13 

 8.5 Non-solicitation of Customers. The Executive agrees that the Company has made a
substantial investment in order to develop and maintain valuable relationships with its customers and prospective customers. The Executive further agrees that the Company has long-standing relationships with its customers and that but for the
Executive’s employment with the Company, the Executive would not have had access to or Confidential Information about its customers. Executive understands and acknowledges that because of the Executive’s experience with and relationship to
the Company she will have access to the Company’s customers and prospective customers and learn about much or all of the Company’s customer information which is confidential and/or compiled in a confidential manner. “Customer
Information” includes, but is not limited to, names, phone numbers, addresses, e-mail addresses, order history, order preferences, chain of command, pricing information, profitability, sales and marketing strategy, and other information
identifying facts and circumstances specific to the customer or prospective customer and relevant to sales or services provided by the Company, whether Confidential Information or otherwise. 

The Executive understands and acknowledges that loss of customer or prospective customer relationships and/or goodwill will cause significant
and irreparable harm to the Company. 
 Therefore, to protect these legitimate interests of the Company, Executive agrees and covenants,
during Restricted Period, not to directly or indirectly, on Executive’s own behalf or on behalf of any other person or entity, solicit, contact (including but not limited to e-mail, regular mail, express mail, telephone, fax, and instant
message), attempt to contact or meet with or provide any products or services to the Company’s customers or prospective customers for purposes of offering or providing goods or services similar to or competitive with those offered by the
Company. 
 The restrictions in this Section 8.5 shall only apply to: 

(a) Customers or prospective customers the Executive contacted in any way during the past one (1) year prior to the
Executive’s last day of employment with the Company; or 
 (b) Customers or prospective customers about whom the
Executive has or had access to trade secret or other Confidential Information; or 
 (c) Customers under the Executive’s
supervisory or sales purview who became customers during the Executive’s employment with the Company. 
 8.6 Non-interference with
Other Business Relationships. The Executive agrees and covenants, during the Restricted Period, not to directly or indirectly, on Executive’s own behalf or on behalf of any other person, interfere with or cause disruption in any way to
the Company’s contracts or relationships with its business partners, including, but not limited to, vendors, suppliers, manufacturing sources, and IT consultants. 

  
 14 

 8.7 Extension of Restricted Period. The Executive agrees that should she breach any
of her covenants in this Section 8, the Restricted Period shall be extended by the length of any period of such breach. 
 9.
Non-disparagement. The Executive agrees and covenants that she will not at any time make, publish or communicate to any person or entity or in any public forum any defamatory or disparaging remarks, comments or statements concerning
the Company or its businesses, or any of its employees, officers, directors, and existing and prospective customers, suppliers, investors and other associated third parties. 

This Section 9 does not, in any way, restrict or impede the Executive from exercising protected rights to the extent that such rights
cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or an authorized government agency, provided that such compliance does not exceed that required by the law,
regulation or order. The Executive shall promptly provide written notice of any such order to Company’s EVP Legal. 
 10. Acknowledgement.
The Executive acknowledges and agrees that the services to be rendered by her to the Company are of a special and unique character; that the Executive will obtain knowledge and skill relevant to the Company’s industry, methods of doing business
and marketing strategies by virtue of the Executive’s employment; and that the restrictive covenants and other terms and conditions of this Agreement are reasonable and reasonably necessary to protect the legitimate business interests of the
Company. 
 The Executive further acknowledges and agrees that her promotion and the amount of and increase in her compensation hereunder
reflects, in part, substantial consideration for her obligations and the Company’s rights under Sections 7 through 9 of this Agreement; that she has no expectation of any additional compensation, royalties or other payment of any kind not
otherwise referenced herein in connection herewith; that she will not be subject to undue hardship by reason of her full compliance with the terms and conditions of Sections 7 through 9 of this Agreement or the Company’s enforcement thereof.

 11. Remedies. In the event of a breach or threatened breach by the Executive of any of Sections 7 through 9 of this Agreement, the Executive
hereby consents and agrees that the Company shall be entitled to seek, in addition to other available remedies, a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent
jurisdiction, without the necessity of posting any bond or other security or of showing any actual damages or that money damages would not afford an adequate remedy. The aforementioned equitable relief shall be in addition to, not in lieu of, legal
remedies, monetary damages or other available forms of relief. In the event the Executive breaches any of her obligations contained in any of Sections 7 through 9, the Company shall be entitled to an award of its costs, reasonable attorneys’
and expert witness fees, and out-of-pocket expenses incurred in obtaining a judgment or order against the Executive in addition to any to other relief awarded to the Company. 

  
 15 

 12. Waiver of Defenses. The Executive agrees that in the event the Company brings an action for
injunctive or other relief for any alleged violation by the Executive of any of Sections 7 through 9 above, the Executive will not raise any defense to such action or the relief sought by the Company on the grounds that the Company terminated the
Executive’s employment in bad faith or committed any breach of this Agreement or any other agreement between the parties, and Executive hereby waives any such defenses in any such action. 

13. Work Product and Intellectual Property Protection. 

13.1 Work Product. The Executive acknowledges and agrees that all right, title and interest in and to all writings, works of
authorship, technology, inventions, discoveries, processes, techniques, methods, ideas, concepts, research, proposals, materials and all other work product of any nature whatsoever, that are created, prepared, produced, authored, edited, amended,
conceived or reduced to practice by the Executive individually or jointly with others during the period of her employment by the Company and relate in any way to the business or contemplated business, products, activities, research or development of
the Company or result from any work performed by the Executive for the Company (in each case, regardless of when or where prepared or whose equipment or other resources is used in preparing the same) all rights and claims related to the foregoing,
and all printed, physical and electronic copies, and other tangible embodiments thereof (collectively, “Work Product”), as well as any and all rights in and to US and foreign (a) patents, patent disclosures and
inventions (whether patentable or not), (b) trademarks, service marks, trade dress, trade names, logos, corporate names and domain names, and other similar designations of source or origin, together with the goodwill symbolized by any of the
foregoing, (c) copyrights and copyrightable works (including computer programs), and rights in data and databases, (d) trade secrets, know-how and other confidential information, and (e) all other intellectual property rights, in each
case whether registered or unregistered and including all registrations and applications for, and renewals and extensions of, such rights, all improvements thereto and all similar or equivalent rights or forms of protection in any part of the world
(collectively, “Intellectual Property Rights”), shall be the sole and exclusive property of the Company. 

13.2 Work Made for Hire; Assignment. The Executive acknowledges that, by reason of being employed by the Company at the relevant
times, to the extent permitted by law, all of the Work Product consisting of copyrightable subject matter is “work made for hire” as defined in 17 U.S.C. § 101 and such copyrights are therefore owned by the Company. To the extent that
the foregoing does not apply, the Executive hereby irrevocably assigns to the Company, for no additional consideration, the Executive’s entire right, title and interest in and to all Work Product and Intellectual Property Rights therein,
including the right to sue, counterclaim and recover for all past, present and future infringement, misappropriation or dilution thereof, and all rights corresponding thereto throughout the world. The Company’s rights under this
Section 13.2 are in addition to, and not in lieu of, any substantive protections the Company may have under any law. 

  
 16 

 13.3 Further Assurances; Power of Attorney. During and after her employment, the
Executive agrees to reasonably cooperate with the Company to (a) apply for, obtain, perfect and transfer to the Company the Work Product as well as any and all Intellectual Property Rights in the Work Product in any jurisdiction in the world;
and (b) maintain, protect and enforce the same, including, without limitation, giving testimony and executing and delivering to the Company any and all applications, oaths, declarations, affidavits, waivers, assignments and other documents and
instruments as shall be requested by the Company. The Executive hereby irrevocably grants the Company power of attorney to execute and deliver any such documents on the Executive’s behalf in her name and to do all other lawfully permitted acts
to transfer the Work Product to the Company and further the transfer, prosecution, issuance and maintenance of all Intellectual Property Rights therein, to the full extent permitted by law, if the Executive does not promptly cooperate with the
Company’s request (without limiting the rights the Company shall have in such circumstances by operation of law). The power of attorney is coupled with an interest and shall not be affected by the Executive’s subsequent incapacity. 

13.4 No License. The Executive understands that this Agreement does not, and shall not be construed to grant the Executive any
license or right of any nature with respect to any Work Product or Intellectual Property Rights or any Confidential Information, materials, software or other tools made available to her by the Company. 

14. Security. 
 14.1 Security
and Access. The Executive agrees and covenants (a) to comply with all Company security policies and procedures as in force from time to time including without limitation those regarding computer equipment, telephone systems, facilities
access, key cards, access codes, Company intranet, internet, social media and instant messaging systems, computer systems, e-mail systems, computer networks, document storage systems, software, data security, encryption, firewalls, passwords and any
and all other Company IT resources and communication technologies (collectively, “Facilities and Information Technology Resources”); (b) not to access or use any Facilities and Information Technology Resources except as
authorized by the Company; and (iii) not to access or use any Facilities and Information Technology Resources in any manner after the termination of the Executive’s employment by the Company, whether termination is voluntary or
involuntary. The Executive agrees to notify the Company promptly in the event she learns of any violation of the foregoing by others, or of any other misappropriation or unauthorized access, use, reproduction or reverse engineering of, or tampering
with any Facilities and Information Technology Resources or other Company property or materials by others. 
 14.2 Exit
Obligations. Upon (a) voluntary or involuntary termination of the Executive’s employment or (b) the Company’s request at any time during the Executive’s employment, the Executive shall (i) provide or return to
the Company any and all Company 

  
 17 

 
property, including but limited to, keys, access cards, identification cards, Company credit cards, computers smartphones, equipment, manuals, reports, files, books, compilations, work product,
e-mail messages, thumb drives and other removable information storage devices, hard drives, and data and all Company documents and materials belonging to the Company and stored in any fashion, including but not limited to those that constitute or
contain any Confidential Information or Work Product, that are in the possession or control of the Executive, whether they were provided to the Executive by the Company or any of its business associates or created by the Executive in connection with
her employment by the Company; and (ii) delete or destroy all copies of any such documents and materials not returned to the Company that remain in the Executive’s possession or control, including those stored on any non-Company devices,
networks, storage locations and media in the Executive’s possession or control. 
 15. Publicity. The Executive hereby irrevocably
consents to any and all uses and displays, by the Company and its agents, representatives and licensees, of the Executive’s name, voice, likeness, image, appearance and biographical information in, on or in connection with any pictures,
photographs, audio and video recordings, digital images, websites, television programs and advertising, other advertising and publicity, sales and marketing brochures, books, magazines, other publications, CDs, DVDs, tapes and all other printed and
electronic forms and media throughout the world, at any time during or after the period of her employment by the Company, for all legitimate commercial and business purposes of the Company (“Permitted Uses”) without further
consent from or royalty, payment or other compensation to the Executive. The Executive hereby forever waives and releases the Company and its directors, officers, employees and agents from any and all claims, actions, damages, losses, costs,
expenses and liability of any kind, arising under any legal or equitable theory whatsoever at any time during or after the period of her employment by the Company, arising directly or indirectly from the Company’s and its agents’,
representatives’ and licensees’ exercise of their rights in connection with any Permitted Uses. 
 16. Governing Law; Jurisdiction and
Venue. This Agreement, for all purposes, shall be construed in accordance with the laws of the State of Florida without regard to conflicts of law principles. Any action or proceeding by either of the parties to enforce this Agreement shall
be brought only in a state or federal court located in the state of Florida, county of Dade. The parties hereby irrevocably submit to the exclusive jurisdiction of such courts and waive any defenses relating to personal jurisdiction, improper venue
or inconvenient forum with respect to any such action or proceeding. 
 17. Entire Agreement. Unless specifically provided herein, this
Agreement contains all of the understandings and representations between the Executive and the Company pertaining to the subject matter hereof and supersedes all prior and contemporaneous understandings, agreements, representations and warranties,
both written and oral, with respect to such subject matter. The parties mutually agree that the Agreement can be specifically enforced in court and can be cited as evidence in legal proceedings alleging breach of the Agreement. 

  
 18 

 18. Modification and Waiver. No provision of this Agreement may be amended or modified unless such
amendment or modification is agreed to in writing and signed by the Executive and by the CEO of the Company. No waiver by either of the parties of any breach by the other party hereto of any condition or provision of this Agreement to be performed
by the other party hereto shall be deemed a waiver of any similar or dissimilar provision or condition at the same or any prior or subsequent time, nor shall the failure of or delay by either of the parties in exercising any right, power or
privilege hereunder operate as a waiver thereof to preclude any other or further exercise thereof or the exercise of any other such right, power or privilege. 

19. Severability. Should any provision of this Agreement be held by a court of competent jurisdiction to be enforceable only if modified, or if
any portion of this Agreement shall be held as unenforceable and thus stricken, such holding shall not affect the validity of the remainder of this Agreement, the balance of which shall continue to be binding upon the parties with any such
modification to become a part hereof and treated as though originally set forth in this Agreement. 
 The parties further agree that any
such court is expressly authorized and shall modify any such unenforceable provision of this Agreement in lieu of severing such unenforceable provision from this Agreement in its entirety, whether by rewriting the offending provision, deleting any
or all of the offending provision, adding additional language to this Agreement or by making such other modifications as it deems warranted to carry out the intent and agreement of the parties as embodied herein to the maximum extent permitted by
law. 
 The parties expressly agree that this Agreement as so modified by the court shall be binding upon and enforceable against each of
them. In any event, should one or more of the provisions of this Agreement be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions hereof, and if such
provision or provisions are not modified as provided above, this Agreement shall be construed as if such invalid, illegal or unenforceable provisions had not been set forth herein. 

20. Captions. Captions and headings of the sections and paragraphs of this Agreement are intended solely for convenience and no provision of this
Agreement is to be construed by reference to the caption or heading of any section or paragraph. 
 21. Counterparts. This Agreement may be
executed in separate counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same instrument. 

22. Section 409A. 
 22.1 The
Parties’ Intent. The intent of the Parties is that payments and benefits under this Agreement comply with or be exempt for Section 409A of the Code and the regulations and guidance promulgated thereunder (collectively, “Code
Section 409A”), and this Agreement and any associated documents shall be interpreted and construed in a manner the establishes an 

  
 19 

 
exemption from (or compliance with Code Section 409A). Any terms of this Agreement that are undefined or ambiguous shall be interpreted in a manner that complies with Code Section 409A
to the extent necessary to comply with Code Section 409A. If for any reason, such imprecision in drafting any provision of this Agreement (or any award of compensation, including, without limitation, equity compensation or benefits) does not
accurately reflect its intended establishment as an exemption from (or compliance with Code Section 409A), as demonstrated by consistent interpretations or other evidence of intent, such provision shall be considered ambiguous as to its
exemption from (or compliance with) Code Section 409A and shall be interpreted in a manner consistent with such intent, as determined in the discretion of the Company. 

22.2 Separation from Service. A termination of employment shall not be deemed to have occurred for purposes of any provision of
this Agreement providing for any payment of any amounts or benefits that the Company determines may be considered nonqualified deferred compensation under Code Section 409A upon or following termination of employment unless such termination is
a “Separation of Service” with the meaning of Code Section 409A, and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or the like shall mean a
separation of service. The determination of whether and when a separation of service has occurred for purposes of this Agreement shall be made in in accordance with the presumptions set forth in Section 1.409A-1(h) of the Treasury Regulations.

 22.3 Reimbursements. Any reimbursements and in-kind benefits provided under this Agreement that constitute deferred
compensation within the meaning of Code Section 409A shall be made or provided in accordance with the requirements of Code Section 409a, including, without limitation, that in no event shall any fees, expenses or other amounts eligible to
be reimbursed by the Company under this Agreement be paid later that the last day of the calendar year next following the calendar year in which the applicable fees, expenses or other amounts were incurred. 

22.4 Payments. For purposes of Code Section 409A, the Executive’s right to receive any installment payments shall be
treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days (for example, “payment shall be made within thirty (30) days
following the date of termination), the actual date of payment within the specified period shall be within the sole discretion of the Company. In no event may the Executive, directly or indirectly, designate the calendar year of any payment to be
made under this Agreement, to the extent that such payment is subject to Code Section 409A. 
 22.5 No Company Warranties. The
Company makes no representation or warranty and shall have no liability to the Executive or any other person if any provisions in this Agreement are determined to constitute deferred compensation subject to Code Section 409A but do not satisfy
an exemption from, or the conditions of, Code Section 409A. 
 23. Notification to Subsequent Employer. When the Executive’s employment
with the Company terminates, the Executive agrees to notify any subsequent employer of the restrictive 

  
 20 

 
covenants sections contained in this Agreement. The Executive will also deliver a copy of such notice to the Company before the Executive commences employment with any subsequent employer. In
addition, the Executive authorizes the Company to provide a copy of sections 7 to 12 of this Agreement to third parties, including but not limited to, the Executive’s subsequent, anticipated or possible future employer. 

24. Successors and Assigns. This Agreement is personal to the Executive and shall not be assigned by the Executive. Any purported assignment by
the Executive shall be null and void from the initial date of the purported assignment. The Company may assign this Agreement to any successor or assign (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business or assets of the Company. This Agreement shall inure to the benefit of the Company and permitted successors and assigns. 

25. Notice. Notices and all other communications provided for in this Agreement shall be in writing and shall be delivered personally or sent by
registered or certified mail, return receipt requested, or by overnight carrier to the parties at the addresses set forth below (or such other addresses as specified by the parties by like notice): 

If to the Company: 
 Veru Inc. 

4400 Biscayne Blvd 
 Suite 888 

Miami, FL 33137 
 Attention: EVP Legal 

If to the Executive: 
 Michele Greco 

4516 Roslyn Road 
 Downers Grove IL 60515 

26. Prior Employment Agreement(s) Superseded. This Agreement supersedes and replaces any and all previous employment agreements between the
parties including, but not limited to, the employment agreement between Executive and Company dated as of October 4, 2017 (the “October 4 2017 Executive Employment Agreement”), but for the provisions of section 27 of the
October 4 2017 Executive Employment Agreement, “Release and Waiver of Claims”, which continue and survive. 
 27. Representations of the
Executive. The Executive represents and warrants to the Company that: 
 (a) The Executive’s acceptance of employment with the
Company and the performance of her duties hereunder will not conflict with or result in a violation of, a breach of, or a default under any contract, agreement or understanding to which she is a party or is otherwise bound; and 

  
 21 

 (b) The Executive’s acceptance of employment with the Company and the performance of her
duties hereunder will not violate any non-solicitation, non-competition or other similar covenant or agreement of a prior employer. 
 28.
Withholding. The Company shall have the right to withhold from any amount payable hereunder any federal, state and/or local taxes in order for the Company to satisfy any withholding tax obligation it may have under any applicable law
or regulation. 
 29. Survival. Upon the termination of this Agreement, the respective rights and obligations of the parties hereto shall
survive such termination to the extent necessary to carry out the intentions of the parties under this Agreement. 
 30. Acknowledgement of Full
Understanding. THE EXECUTIVE ACKNOWLEDGES AND AGREES THAT SHE HAS FULLY READ, UNDERSTANDS AND VOLUNTARILY ENTERS INTO THIS AGREEMENT. THE EXECUTIVE ACKNOWLEDGES AND AGREES THAT SHE HAS HAD AN OPPORTUNITY TO ASK QUESTIONS AND CONSULT WITH AN
ATTORNEY OF HER CHOICE BEFORE SIGNING THIS AGREEMENT. 

  
 22 

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

	
	VERU INC.
	
	/s/ Mitchell S. Steiner
	Mitchell S. Steiner, MD, FACS
	CEO and President

  

	
	Michele Greco
	
	/s/ Michele Greco
	Executive

  
 23EX-10.1

 Exhibit 10.1 

NINTH AMENDMENT 

TO 

THIRD AMENDED AND RESTATED CREDIT AGREEMENT 

AMONG 

LEGACY RESERVES LP, 

as Borrower, 
 THE
GUARANTORS, 
 WELLS FARGO BANK, NATIONAL
ASSOCIATION, 
 as Administrative Agent, 

and 
 THE
LENDERS SIGNATORY HERETO 
 DATED AS OF
MARCH 23, 2018 
 Sole Lead Arranger and Sole Book Runner 

Wells Fargo Securities, LLC 

Syndication Agent 
 Compass
Bank 
 Co-Documentation Agents 

UBS Securities LLC 
 and 

U.S. Bank National Association 

 NINTH AMENDMENT TO 

THIRD AMENDED AND RESTATED CREDIT AGREEMENT

 This NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT (this “Ninth Amendment”) dated as of March 23, 2018, among LEGACY RESERVES LP, a limited partnership duly formed under the
laws of the State of Delaware (the “Borrower”); each of the undersigned guarantors (the “Guarantors”, and together with the Borrower, the “Obligors”); WELLS FARGO
BANK, NATIONAL ASSOCIATION, as administrative agent for the Lenders (in such capacity, together with its successors, the “Administrative Agent”); and the Lenders signatory hereto. 

Recitals 
 A. The Borrower, the
Administrative Agent and the Lenders are parties to that certain Third Amended and Restated Credit Agreement dated as of April 1, 2014 (as amended by the First Amendment to Third Amended and Restated Credit Agreement dated as of April 17,
2014, that certain Second Amendment to Third Amended and Restated Credit Agreement dated as of May 22, 2014, that certain Third Amendment to Third Amended and Restated Credit Agreement dated as of December 29, 2014, that certain Fourth
Amendment to Third Amended and Restated Credit Agreement dated as of February 23, 2015, that certain Fifth Amendment to Third Amended and Restated Credit Agreement dated as of August 5, 2015, that certain Sixth Amendment to Third Amended
and Restated Credit Agreement dated as of November 13, 2015, that certain Seventh Amendment to Third Amended and Restated Credit Agreement dated as of February 19, 2016 and that certain Eighth Amendment to Third Amended and Restated Credit
Agreement dated as of October 25, 2016 (as so amended prior to the date hereof, the “Existing Credit Agreement”, and the Existing Credit Agreement, as amended by this Ninth Amendment, the “Credit Agreement”),
pursuant to which the Lenders have made certain credit available to and on behalf of the Borrower. 
 B. The Guarantors are parties to that
certain Third Amended and Restated Guaranty Agreement dated as of April 1, 2014 made by each of the Guarantors (as defined therein) in favor of the Administrative Agent (the “Guaranty”). 

C. The Borrower, the Guarantors, the Administrative Agent and the Lenders have agreed to amend certain provisions of the Existing Credit
Agreement as more fully set forth herein. 
 NOW, THEREFORE, 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 which is defined in the Credit Agreement, but which is not defined in this Ninth Amendment, shall have the meaning ascribed such term in the Credit Agreement. Unless otherwise indicated, all article,
section and exhibit references in this Ninth Amendment refer to articles, sections and exhibits of the Credit Agreement. 

  
 Page 1 

 Section 2. Amendments to Credit Agreement. Effective as of (a) in the case of the additions of
Sections 9.26 and 9.27 to the Existing Credit Agreement specified in Section 2.21 below, the date hereof and (b) in any other case, as of the Ninth Amendment Effective Date: 

2.1 Amendments to Section 1.02. 

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

“Agreement” means this Third Amended and Restated Credit Agreement, as amended by the First Amendment, the
Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment, the Sixth Amendment, the Seventh Amendment, the Eighth Amendment and the Ninth Amendment, as the same may from time to time be amended, modified, supplemented or
restated. 
 “Change in Control” means (a) the Parent ceases to (i) be the Beneficial Owner of
100% of the Equity Interests of Legacy GP, (ii) Control Legacy GP or (iii) be the Beneficial Owner of 100% of the limited partner Equity Interests in the Borrower; (b) Legacy GP ceases to be the sole general partner of the Borrower;
(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 greater than 50% of the properties or assets (determined by
reference to fair market value of such properties and assets at the time of such sale, lease, transfer, conveyance or other disposition) of the Borrower and its Subsidiaries taken as a whole, to any “person” (as that term is used in
Section 13(d)(3) of the Exchange Act); (d) the adoption of a plan relating to the liquidation or dissolution of the Parent or the Borrower; (e) the consummation of any transaction (including, without limitation, any merger or
consolidation) the result of which is that any “person” (as that term is used in Section 13(d)(3) of the Exchange Act) becomes the Beneficial Owner, directly or indirectly, of more than 50% of the Equity Interests of the Parent,
measured by voting power rather than number of shares, units or the like; or (f) the first day on which a majority of the members of the Board of Directors of the Parent are not Continuing Directors. 

“Consolidated Net Income” means with respect to the Parent and the Consolidated Subsidiaries, for any period,
the aggregate of the net income (or loss) of the Parent and the Consolidated Subsidiaries after allowances for taxes for such period determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded from such
net income (to the extent otherwise included therein) the following: (a) the net income of any Person in which the Parent or a Consolidated Subsidiary has an interest (which interest does not cause the net income of such other Person to be
consolidated with the net income of the Parent and the Consolidated Subsidiaries in accordance with GAAP), except to the extent of the amount of dividends or distributions actually paid in cash during such period by such other Person to the Parent
or to a Consolidated Subsidiary (including any such payments made by an E&P 

  
 Page 2 

 
Subsidiary), as the case may be; (b) the net income (but not loss) during such period of any Consolidated Subsidiary to the extent that the declaration or payment of dividends or similar
distributions or transfers or loans by that Consolidated Subsidiary is not at the time permitted by operation of the terms of its charter or any agreement, instrument or Governmental Requirement applicable to such Consolidated Subsidiary or is
otherwise restricted or prohibited, in each case determined in accordance with GAAP; (c) the net income (or loss) of any Person acquired in a pooling-of-interests
transaction for any period prior to the date of such transaction; and (d) any extraordinary gains or losses during such period; and provided further that if the Parent or any Consolidated Subsidiary shall acquire or dispose of any Property
during such period, then Consolidated Net Income shall be calculated after giving pro forma effect to such acquisition or disposition, as if such acquisition or disposition had occurred on the first day of such period. 

“Consolidated Subsidiaries” means, (a) with respect to the Borrower, each Subsidiary of the Borrower
(whether now existing or hereafter created or acquired) the financial statements of which shall be (or should have been) consolidated with the financial statements of the Borrower in accordance with GAAP and (b) with respect to the Parent, each
Subsidiary of the Parent (whether now existing or hereafter created or acquired) the financial statements of which shall be (or should have been) consolidated with the financial statements of the Parent in accordance with GAAP. 

“Continuing Directors” means, as of any date of determination, any member of the board of directors of the
Parent who (a) was a member of such board of directors on the Ninth Amendment Effective Date or (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. 
 “EBITDA” means, for any
period, Consolidated Net Income for such period plus, to the extent deducted from revenues in determining Consolidated Net Income, (i) Consolidated Interest Expense, (ii) expense for income and income based taxes paid or accrued,
(iii) depreciation, depletion, amortization, accretion and impairment, including without limitation, impairment of goodwill, (iv) reasonable transaction expenses and fees in connection with financing, acquisition and divestiture activities
permitted under this Agreement, in an aggregate amount not to exceed $5,000,000 in any four fiscal quarter period, (v) minimum payments earned in excess of overriding royalty interests, (vi) any
non-cash items associated with (a) mark to market accounting related to derivatives or investments, (b) stock based compensation arising from the grant of or issuance or replacement of stock, stock
options or other equity-based awards or any amendment, modification, substitution or change of any such stock, stock options or other equity-based awards, in each case in connection with employee plans or other compensation arrangements, and/or
(c) any losses (or to the extent increasing the Consolidated Net Income, subtracting any gains) attributable to 

  
 Page 3 

 
writeups or writedowns of assets, including ceiling test writedowns, and asset sales and (vii) (i) reasonable and customary one-time investment
banking, legal, accounting and other reasonable and customary advisory transaction expenses and fees in connection with the Reorganization Transactions and (ii) cash consideration paid to the equityholders of Legacy GP in connection with the
Reorganization Transactions; provided that the aggregate amount under this clause (vii) shall not exceed $4,000,000; less, all non-cash items increasing Consolidated Net Income, all
calculated for the Borrower and its Subsidiaries on a consolidated basis. For the purposes of calculating EBITDA for any period of four consecutive fiscal quarters (each, a “Reference Period”), (x) if during such Reference Period
the Borrower shall have designated any Subsidiary as an E&P Subsidiary or designated an E&P Subsidiary to no longer be an E&P Subsidiary, EBITDA for such Reference Period shall be calculated on a pro forma basis as if such designation
had occurred on the first day of such Reference Period, and (y) if the Borrower or any Consolidated Subsidiary shall acquire or dispose of any Property during such period, then EBITDA shall be calculated after giving pro forma effect to such
acquisition or disposition, as if such acquisition or disposition had occurred on the first day of such period. 

“Guarantors” means (a) Legacy Reserves Operating LP, (b) Legacy Reserves Operating GP LLC,
(c) Legacy Reserves Services, Inc., (d) Legacy Reserves Energy Services LLC, (e) Dew Gathering LLC, (f) Pinnacle Gas Treating LLC, (g) the Parent Guarantors and (h) each Material Domestic Subsidiary formed or acquired during
the term of this Agreement or other Domestic Subsidiary that is a party to the Guaranty Agreement and the Security Agreement as a “Guarantor” and a “Grantor” (as such terms are defined in the Guaranty Agreement and the Security
Agreement, respectively) and guarantees the Indebtedness pursuant to Section 8.14(b). For the avoidance of doubt, it is understood and agreed that an E&P Subsidiary shall not be a Guarantor. 

“Pledge Agreement” means the Third Amended and Restated Pledge Agreement of even date herewith executed by the
Guarantors in favor of the Administrative Agent (as amended, supplemented or otherwise modified from time to time) with respect to the “Pledged Securities” as defined therein. 

“Subsidiary” means, with respect to any Person (the “parent”), (a) any other Person
(i) of which at least a majority of the outstanding Equity Interests is at the time directly or indirectly owned by the parent or one or more of its Subsidiaries or by the parent and one or more of its Subsidiaries or (ii) of which at
least a majority of the outstanding Equity Interests having by the terms thereof ordinary voting power to elect a majority of the board of directors, manager or other governing body of such Person (irrespective of whether or not at the time Equity
Interests of any other class or classes of such Person shall have or might have voting power by reason of the happening of any contingency) is at the time directly or indirectly owned or controlled by the parent or one or more of its Subsidiaries or
by the parent and one or more of its Subsidiaries and (b) any partnership of which the parent or any of its Subsidiaries is a general partner. 

  
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Unless otherwise indicated herein, each reference to the term “Subsidiary” shall mean a Subsidiary of the Borrower. Notwithstanding the foregoing, until such time as the Borrower
notifies the Administrative Agent that the Person constituting an E&P Subsidiary is no longer designated an “E&P Subsidiary” hereunder, it is understood and agreed that neither such E&P Subsidiary nor any subsidiary of such
E&P Subsidiary shall be a Subsidiary of the Borrower for purposes of this Agreement and the other Loan Documents other than, to the extent such E&P Subsidiary would otherwise constitute a ‘Subsidiary’ within the meaning of such
definition, such E&P Subsidiary and its subsidiaries shall each be a Subsidiary for purposes of Section 7.06, Section 7.09, Section 7.10, Section 7.23, Section 8.10, Section 8.15, Section 9.09,
Section 9.13 and Section 12.03(b). 
 (b) The following definitions are hereby added where alphabetically appropriate to read as
follows: 
 “GP Purchase” means the acquisition by the Parent from the GP Sellers of 100% of the limited
liability company Equity Interests in Legacy GP and the admission of the Parent as the sole member of Legacy GP, in each case pursuant to the terms of the GP Purchase Agreement. 

“GP Purchase Agreement” means that certain GP Purchase Agreement, dated as of March 23, 2018, by and
among Parent and the GP Sellers, in form and substance reasonably satisfactory to the Administrative Agent (it being agreed and understood that the GP Purchase Agreement delivered to the Administrative Agent on or prior to the date of the Ninth
Amendment is reasonably satisfactory to the Administrative Agent), as it may be amended, supplemented, restated or otherwise modified from time to time (without giving effect to any amendments, supplements, restatements or other modifications that
are materially adverse to the Lenders without the prior written consent of the Administrative Agent, it being acknowledged that any increase in any amounts beyond $3,500,000 payable to the GP Sellers thereunder shall be deemed to be materially
adverse). 
 “GP Sellers” means, collectively, Brothers Production Properties, Ltd., Brothers Production
Company, Inc., Brothers Operating Company, Inc., J&W McGraw Properties, Ltd., Moriah Properties, Ltd., DAB Resources, Ltd. and H2K Holdings, Ltd. 

“Legacy GP” means Legacy Reserves GP, LLC, a Delaware limited liability company. 

“Merger Agreement” means that certain Agreement and Plan of Merger, dated as of March 23, 2018, by and
among the Borrower, Legacy GP, Parent and Legacy Reserves Merger Sub LLC, a Delaware limited liability company, in form and substance reasonably satisfactory to the Administrative Agent (it being agreed and understood that the Merger Agreement
delivered to the Administrative Agent on or prior to the date of the Ninth Amendment is reasonably satisfactory to the Administrative Agent), as it may be amended, supplemented, restated or 

  
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otherwise modified from time to time (without giving effect to any amendments, supplements, restatements or other modifications that are materially adverse to the Lenders without the prior
written consent of the Administrative Agent, it being acknowledged that any increase in any amounts beyond $50,000 payable thereunder shall be deemed to be materially adverse). 

“Ninth Amendment” means that certain Ninth Amendment to Third Amended and Restated Credit Agreement, dated as
of March 23, 2018, among the Borrower, the Guarantors, the Administrative Agent and the Lenders party thereto. 

“Ninth Amendment Effective Date” has the meaning ascribed to such term in the Ninth Amendment. 

“Parent” means Legacy Reserves Inc., a Delaware corporation. 

“Parent Guarantors” means, collectively, the Parent and Legacy GP. 

“Reorganization Transactions” means the corporate reorganization of the Borrower and its Subsidiaries, as
described in the Merger Agreement and the GP Purchase Agreement, which transactions include, without limitation: (A) the formation by Legacy GP of the Parent and the formation by the Parent of Legacy Reserves Merger Sub, LLC a Delaware limited
liability company (“Merger Sub”), (B) the GP Purchase on the terms set forth in the GP Purchase Agreement, (C) the merger of Merger Sub with and into the Borrower, with the Borrower surviving such merger and the Borrower’s
limited partner interests being 100% owned by the Parent as a result thereof and (D) the exchange of the Borrower’s common and preferred Equity Interests for common Equity Interests in the Parent on the terms set forth in the Merger
Agreement. 
 “Subsidiary Guarantor” means any Subsidiary of the Borrower that is a Guarantor. 

(c) Clause (e) of the definition of “Excepted Liens” is hereby amended by replacing the reference therein to “the
Borrower” with “the Parent Guarantors, the Borrower”. 
 (d) Clause (i) of the definition of “Excluded
Accounts” is hereby amended by replacing the reference therein to “the Borrower” with “the Parent Guarantors, the Borrower”. 

(e) The definition of “Indebtedness” is hereby amended by replacing the phrase “relating to the Borrower or any of its
Subsidiaries” with the phrase “relating to the Borrower or any of its Subsidiaries or any Guarantor”. 
 (f) The definition of
“Second Lien Loan Documents” is hereby amended by replacing the phrase “the Borrower or any of its Subsidiaries” with the phrase “the Borrower or any of its Subsidiaries or any Guarantor”. 

  
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 (g) Each of the definitions “Consolidated Cash Balance”, “First Lien Debt”,
“Interest Expense”, “Secured Debt” and “Total Debt” is hereby amended by replacing each instance of the word “Borrower” with the word “Parent”. 

(h) Each of the definitions “Available Cash” and “Legacy Reserves GP, LLC” is hereby deleted in its entirety. 

2.2 Amendment to Section 2.08(j). Section 2.08(j) is hereby amended by replacing the phrase “the Borrower
or any of its Subsidiaries” with the phrase “the Borrower or any of its Subsidiaries or any Guarantor”. 
 2.3 Amendment to
Section 3.04(d). Section 3.04(d) is hereby amended by (a) replacing each instance of the phrase “the Borrower or any Subsidiary” with the phrase “the Borrower or any Subsidiary or any Guarantor”
and (b) replacing the phrase “the Borrower or such Subsidiary” with the phrase “the Borrower or such Subsidiary or such Guarantor”. 

2.4 Amendment to Section 7.14. Section 7.14 is hereby amended by adding a new sentence at the end thereof to read as
follows: “The Parent does not directly own any Equity Interests in any Person other than Equity Interests in the Borrower and Legacy GP, and Legacy GP does not directly own any Equity Interests in any Person other than Equity Interests in the
Borrower.” 
 2.5 Amendment to Section 7.21. Clause (b) of Section 7.21 is hereby amended and
restated in its entirety to read as follows: “(b) to make Restricted Payments permitted by Section 9.04,”. 
 2.6 Amendment
to Article VII. Article VII is hereby amended by (a) replacing the phrase “The Borrower represents and warrants to the Lenders that:” immediately before Section 7.01 with the phrase “The Borrower (and each Parent
Guarantor, in the case of Section 7.27) represents and warrants to the Lenders that:” and (b) adding a new Section 7.27 thereto to read as follows: 

Section 7.27 Representations and Warranties of the Parent Guarantors. Each of the Parent Guarantors hereby makes
each of the representations and warranties to the Lenders set forth in Section 7.01, Section 7.02, Section 7.03, Section 7.04, Section 7.05, Section 7.06, Section 7.07, Section 7.08, Section 7.09,
Section 7.10, Section 7.11, Section 7.12, Section 7.13, Section 7.14, Section 7.21, Section 7.22 and Section 7.23, as if each reference to “the Borrower” therein were a reference to “such Parent
Guarantor”, and provided that each reference in each such representation and warranty to the Borrower’s knowledge shall, for the purposes of this Section 7.27, be deemed to be a reference to such Parent Guarantor’s knowledge.

  
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 2.7 Amendment to Section 8.01(a)-(c). Each of Sections 8.01(a), (b) and
(c) is hereby amended and restated in its entirety to read as follows: 
 (a) Annual Financial Statements. As
soon as available, but in any event not later than 90 days after the end of each fiscal year, the Parent’s audited consolidated balance sheet and related statements of operations, shareholders’ equity and cash flows as of the end of and
for such year, setting forth in each case in comparative form the figures for the previous fiscal year (which, for the avoidance of doubt, may be against the financial statements of the Borrower for any period prior to the closing of the
Reorganization Transactions), all reported on by independent public accountants of recognized national standing and reasonably acceptable to the Administrative Agent (without a “going concern” or like qualification or exception and without
any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial position and results of operations of the Parent and its Consolidated
Subsidiaries on a consolidated basis in accordance with GAAP consistently applied. 
 (b) Quarterly Financial
Statements. As soon as available, but in any event not later than 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Parent, its consolidated balance sheet and related statements of operations,
shareholders’ equity and cash flows as of the end of and for such quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the corresponding period or periods of (or, in the case of
the balance sheet, as of the end of) the previous fiscal year (which, for the avoidance of doubt, may be against the financial statements of the Borrower for any period prior to the closing of the Reorganization Transactions), all certified by a
Financial Officer of the Parent as presenting fairly in all material respects the financial position and results of operations of the Parent and its Consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied,
subject to normal year-end audit adjustments and the absence of footnotes. 
 (c)
Certificate of Financial Officer – Compliance. Concurrently with any delivery of financial statements under Section 8.01(a) or Section 8.01(b), a certificate of a Financial Officer of the Parent and the Borrower in
substantially the form of Exhibit B hereto (i) certifying as to whether a Default has occurred and, if a Default has occurred, specifying the details thereof and any action taken or proposed to be taken with respect thereto, (ii) setting
forth reasonably detailed calculations demonstrating compliance with Section 9.01, (iii) stating whether any change in GAAP or in the application thereof has occurred since the Effective Date and, if any such change has occurred, specifying the
effect of such change on the financial statements accompanying such certificate and (iv) specifying each Subsidiary and E&P Subsidiary. 

  
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 2.8 Amendment to Section 8.01(h). Section 8.01(h) is hereby
amended and restated in its entirety to read as follows: 
 (h) Other Accounting Reports. Promptly upon receipt
thereof, a copy of each other report or letter submitted to the Parent, the Borrower or any of its Subsidiaries by independent accountants in connection with any annual, interim or special audit made by them of the books of the Parent, the Borrower
or any such Subsidiary, and a copy of any response by the Parent, the Borrower or any such Subsidiary to such letter or report. 
 2.9
Amendment to Section 8.01(i). Section 8.01(i) is hereby amended by replacing the phrase “the Borrower or any Subsidiary” with “the Parent, the Borrower or any Subsidiary”. 

2.10 Amendment to Section 8.01(p). Section 8.01(p) is hereby amended by replacing the phrase “the Borrower
or any of its Subsidiaries” with “any Parent Guarantor, the Borrower or any of its Subsidiaries”. 
 2.11 Amendment to
Section 8.01(q). Section 8.01(q) is hereby amended by replacing the phrase “the Borrower or any of its Subsidiaries” with “any Parent Guarantor, the Borrower or any of its Subsidiaries”. 

2.12 Amendment to Section 8.02(b). Section 8.02(b) is hereby amended by replacing the
phrase “the Borrower or any Subsidiary thereof” therein with the phrase “any Parent Guarantor, the Borrower or any Subsidiary thereof”. 

2.13 Amendment to Article VIII. Article VIII is hereby amended by (a) replacing the phrase “the Borrower covenants and agrees
with the Lenders that:” immediately before Section 8.01 with the phrase “The Borrower (and each Parent Guarantor, in the case of Section 8.01, Section 8.02 and Section 8.21) covenants and agrees with the Lenders
that:” and (b) adding a new Section 8.21 to read as follows: 
 Section 8.21 Affirmative Covenants of
the Parent Guarantors. Each of the Parent Guarantors hereby covenants and agrees to comply with each of the covenants set forth in Section 8.03, Section 8.04, Section 8.05, Section 8.07, Section 8.08, Section 8.09,
Section 8.10, Section 8.11, Section 8.15, Section 8.19 and Section 8.20, as if each reference to “the Borrower” therein were a reference to “such Parent Guarantor”; provided, however, that, so long
as the aggregate balance held in all Deposit Accounts, Securities Accounts and Commodity Accounts of the Parent Guarantors does not at any time exceed $500,000, the Parent Guarantors shall be under no obligation with respect to Section 8.20
prior to the 30th day following the Ninth Amendment Effective Date (or such later date as the Administrative Agent may agree to in its sole discretion). 

2.14 Amendment to Section 9.01. Section 9.01 is hereby amended by replacing each instance of the word
“Borrower” with the word “Parent”. 

  
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 2.15 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. The Borrower and the Parent
Guarantors will not, and will not permit any of their respective Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment, return any capital to its stockholders or make any distribution of their
Property to their respective Equity Interest holders, except (i) the Parent 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; (iii) so long as both before and immediately after giving effect to such Restricted Payment,
(A) no Default or Event of Default has occurred and is continuing or would result therefrom, (B) the Borrower has unused Commitments of not less than 20% of the total Commitments then in effect and (C) the ratio of Total Debt as of
such time (including the effect of any Borrowings or other Debt used to make such Restricted Payment) to EBITDA for the four fiscal quarters ending on the last day of the fiscal quarter immediately preceding the date of determination for which
financial statements are available is equal to or less than 3.00 to 1.00, the Borrower may declare and pay cash dividends to the Parent, and the Parent may declare and pay cash dividends to its Equity Interest holders; (iv) if no Default or
Event of Default has occurred and is continuing or would exist after giving effect thereto, the repurchase or other acquisition of equity securities, limited partnership interest or units of the Parent not to exceed $2,500,000 in the aggregate since
the Eighth Amendment Effective Date, from employees, former employees, directors or former directors of the Parent or its Subsidiaries (or permitted transferees of such employees, former employees, directors or former directors), pursuant to the
terms of the agreements (including employment agreements) or plans (or amendments thereto) or other arrangements approved by the board of directors of the Parent under which such equity securities, limited partnership interest or units were granted,
issued or sold; and (v) the Borrower may declare and pay dividends or distributions to the Parent in an amount equal to (A) Taxes then due and owing by the Parent and (B) reasonable and customary accounting, public company and other
overhead and administrative costs and expenses (exclusive of any markup or premium), including reasonable and customary director’s fees and expenses, incurred by the Parent in the ordinary course of business. 

2.16 Amendment to Section 9.04(b)(i). Section 9.04(b)(i) is hereby amended by (a) replacing the word
“and” at the end of clause (A) with a comma, (b) adding the word “or” at the end of clause (B) and (c) adding the following as a new clause (C): “(C) with the Net Cash Proceeds of any sale of Equity Interests
(other than Disqualified Capital Stock) of the Parent or in exchange solely for Equity Interests (other than Disqualified Capital Stock) of the Parent”. 

  
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 2.17 Amendments to Section 9.05. 

(a) Section 9.05(g) is hereby amended and restated in its entirety to read as follows: 

(g) Investments (i) made by the Borrower in or to the Subsidiary Guarantors, (ii) made by any Subsidiary in or to the
Borrower or any Subsidiary Guarantor, and (iii) made by the Borrower or any Subsidiary Guarantor in Subsidiaries that are not Guarantors, provided that the aggregate of all Investments made by the Borrower and the Subsidiary Guarantors
in or to all Subsidiaries that are not Guarantors shall not exceed $20,000,000 at any time, and only to the extent an Event of Default or Borrowing Base Deficiency does not exist and would not result from making such Investments. 

(b) Section 9.05(m) is hereby added to Section 9.05 to read as follows: 

(m) loans and advances made by the Borrower to the Parent to the extent any such loan or advance (i) is made in lieu of a
Restricted Payment permitted pursuant to Section 9.04 or otherwise under this Agreement and (ii) if made as a Restricted Payment, would be permitted pursuant to Section 9.04 or otherwise under this Agreement. 

2.18 Amendment to Section 9.11. Section 9.11 is hereby amended by deleting the last paragraph thereof in its
entirety. 
 2.19 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. The Borrower will not, and will not permit any
Subsidiary 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 Guarantors and Wholly-Owned Subsidiaries of the Borrower)
(each, an “Affiliate Transaction”) unless (a) such transactions are otherwise permitted 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 and (b) the Borrower delivers to the Administrative Agent and Lenders: (i) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration
in excess of $25.0 million but less than or equal to $50.0 million, an officers’ certificate of a Responsible Officer certifying that such Affiliate Transaction or series of related Affiliate Transactions complies with this
Section 9.14; or (ii) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of $50.0 million, an officers’ certificate of a Responsible Officer
certifying that such Affiliate Transaction or series of related Affiliate Transactions complies with this Section 9.14 and that such Affiliate Transaction or series of related Affiliate Transactions has been approved by the board of directors
of the Parent (so long as the members of the board of directors are disinterested) or a majority of the disinterested members of the board of directors of the Parent, in each case pursuant to a resolution set forth in such officers’
certificate. 

  
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 2.20 Amendment to Section 9.21(a). The final proviso of
Section 9.21(a) is hereby amended and restated in its entirety to read as follows: “provided, further the Borrower and its Subsidiaries shall be permitted to make an optional or voluntary Redemption of the Second Lien Loans
with (1) the proceeds of Permitted Refinancing Debt or (2) the Net Cash Proceeds of any sale of Equity Interests (other than Disqualified Capital Stock) of the Parent or in exchange solely for Equity Interests (other than Disqualified
Capital Stock) of the Parent”. 
 2.21 Amendments to Article IX. Article IX is hereby amended by (a) replacing the phrase
“the Borrower covenants and agrees with the Lenders that:” immediately before Section 9.01 with the phrase “The Borrower (and each Parent Guarantor, in the case of Section 9.01, Section 9.04(a), Section 9.24,
Section 9.25, Section 9.26 and Section 9.27) covenants and agrees with the Lenders that:” and (b) adding a new Section 9.24, Section 9.25, Section 9.26 and Section 9.27 thereto to read as follows: 

Section 9.24 Passive Holding Company Status of Parent Guarantors. Neither of the Parent Guarantors shall engage in
any operating or business activities or other transactions and shall not directly hold Equity Interests of any Subsidiary except the Borrower or Legacy GP; provided that the following shall be permitted in any event: (a) the maintenance
of its legal existence (including the ability to incur fees, costs and expenses relating to such maintenance), (b) the performance of its obligations with respect to the Loan Documents, the Second Lien Loan Documents, the Senior Notes and any
Permitted Refinancing Debt of the foregoing, (c) any public offering of the Parent’s common stock or any other issuance or sale of the Parent’s Equity Interests and, in each case, the redemption thereof, (d) payment of taxes and
dividends to its Equity Interest holders and making contributions to the capital of the Borrower and its Subsidiaries, (e) participating in tax, accounting and other administrative matters as a member of the consolidated group of the Parent and
its Subsidiaries or the making and filing of any reports required by any Governmental Authority, (f) holding any cash or cash equivalents incidental to any activities permitted under this Section 9.24, (g) providing indemnification to
officers, managers and directors, (h) managing, through its board of directors, directors, officers and managers, the business of the Borrower and its Subsidiaries and (i) any other activities incidental to the foregoing. Notwithstanding
the foregoing, no Parent Guarantor shall (i) incur, create, assume or suffer to exist any Debt or other material liabilities or material obligations (including any obligations (whether contingent or otherwise) under Swap Agreements or
guarantees of any obligations under Swap Agreements), except (A) nonconsensual obligations (other than Debt) imposed by operation of law, (B) pursuant to any Loan Documents, any Second Lien Loan Documents, any Senior Notes or any Permitted

  
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Refinancing Debt of the foregoing to which it is a party or (C) pursuant to Section 9.05(h); (ii) incur, assume or permit to exist any Lien on any of its Properties (now owned or
hereafter acquired), except (A) pursuant to any Loan Documents or any Second Lien Loan Documents or any Permitted Refinancing Debt of the foregoing to which it is a party and (B) for Excepted Liens; (iii) make or permit to remain
outstanding any Investment in any Person other than (A) Investments of the type described in Section 9.05(c) through (f), (B) loans and advances to the Borrower and the Subsidiary Guarantors and (C) capital contributions to the
Borrower; (iv) Redeem any Senior Notes, Second Lien Loans or any Permitted Refinancing Debt in respect of the foregoing, or any Debt of any other Person; (v) merge into or with or consolidate with any other Person, or sell, lease or
otherwise dispose of (whether in one transaction or in a series of transactions) all or substantially all of its Property to any other Person; or (vi) sell, assign, convey or otherwise transfer any Property except for (A) Restricted
Payments permitted by Section 9.04(a) and (B) transfers of any Property to the Borrower or any Subsidiary Guarantor. 

Section 9.25 Negative Covenants of the Parent Guarantors. Each of the Parent Guarantors hereby covenants and
agrees to comply with each of the covenants set forth in Section 9.04(b)(ii), Section 9.04(c), Section 9.09, Section 9.14, Section 9.16, Section 9.21(b), and Section 9.22, as if each reference to “the
Borrower” were a reference to “such Parent Guarantor”; provided, however, that, so long as the aggregate balance held in all Deposit Accounts, Securities Accounts and Commodity Accounts of the Parent Guarantors does not at any
time exceed $500,000, the Parent Guarantors shall be under no obligation with respect to Section 9.22 prior to the 30th day following the Ninth Amendment Effective Date (or such later date as the Administrative Agent may agree to in its sole
discretion). 
 Section 9.26 Certain Settlements. Each of the Borrower and the Parent Guarantors will not, and
will not permit their Subsidiaries or the Parent to, at any time, without the prior written approval of the Administrative Agent, make any payment in any form (including cash, securities or other Property, but excluding any payments made with the
proceeds of insurance) in respect of any settlement of any action, suit, proceeding, investigation or arbitration relating to the Reorganization Transactions in excess of $10,000,000. 

Section 9.27 LTIP. Each of the Borrower and the Parent Guarantors will not, and will not permit their Subsidiaries
to, declare or make, or agree to pay or make, directly or indirectly, any payment in any form (including cash, securities or other Property) pursuant to the Amended and Restated Long-Term Incentive Plan of the Borrower, dated August 17, 2007,
as amended by the First Amendment, dated June 12, 2015, as it may be further amended, restated, amended and restated or otherwise modified from time to time or any related employment or other 

  
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agreement (any such payment, an “LTIP Payment”) on account of or in connection with the Reorganization Transactions and any other LTIP Payments on or after the date of the Ninth
Amendment in respect of grant years 2018 and prior, other than (i) cash LTIP Payments up to $30,000,000 in the aggregate and (ii) any such LTIP Payment taking the form of common Equity Interests in the Parent. 

2.22 Amendment to Section 10.01. Section 10.01 is hereby amended by replacing the phrase “the Borrower or
any of its Subsidiaries”, the phrase “the Borrower, any of its Subsidiaries” and the phrase “the Borrower and its Subsidiaries” with the phrase “the Borrower or any of its Subsidiaries or any Guarantor”. 

2.23 Amendment to Section 12.03(b)(ii). Section 12.03(b)(ii) is hereby amended by replacing the phrase “THE
BORROWER OR ANY OF ITS SUBSIDIARIES” with “THE BORROWER OR ANY OF ITS SUBSIDIARIES OR ANY GUARANTOR”. 
 2.24 Amendment to
Section 12.08. Section 12.08 is hereby amended by replacing the phrase “the Borrower or any of its Subsidiaries” with the phrase “the Borrower or any of its Subsidiaries or any Guarantor”. 

2.25 Amendment to Section 12.19. Section 12.19 is hereby amended and restated in its entirety to read as
follows: 
 Section 12.19 Joinder of Parent Guarantors. By executing and delivering the Ninth Amendment, effective as of the
Ninth Amendment Effective Date, each of the Parent and Legacy GP hereby becomes a party to this Agreement with the same force and effect as if originally named herein and hereby agrees to be bound by the terms of this Agreement. In furtherance of
the foregoing, on the Ninth Amendment Effective Date, each of the Parent and Legacy GP shall execute and deliver to the Administrative Agent a joinder with respect to its obligations under this Agreement, which shall be in form and substance
reasonably satisfactory to the Administrative Agent. Each of the Parent and Legacy GP hereby represents and warrants that each of the representations and warranties applicable to it in this Agreement are true and correct, 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 as of such specified earlier date. 

Section 3. Consent to Reorganization Transactions. 

3.1 So long as the Ninth Amendment Effective Date has occurred by December 31, 2018 (as may be extended with the consent of the
Administrative Agent), the Lenders hereby (a) agree that (i) none of the Reorganization Transactions shall constitute (A) a merger or consolidation in violation of Section 9.11 or (B) a transaction with an Affiliate in
violation of Section 9.14 and (ii) the Change in Control that results on account of the Reorganization Transactions is hereby waived in its entirety and is deemed not to have occurred and (b) consent

  
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to the Borrower’s payment of cash in lieu of fractional shares held by its limited partner Equity Interest holders pursuant to the terms of the Merger Agreement in an amount up to $50,000
(or such greater amount as the Administrative Agent may agree to in its sole discretion) and the Borrower’s payment to Parent of the cash consideration to be paid by Parent to the equityholders of Legacy GP pursuant to the GP Purchase Agreement
in an amount up to $3,500,000 (or such greater amount as the Administrative Agent may agree to in its sole discretion). 
 3.2 Except as
expressly waived herein, all covenants, obligations and agreements of the Borrower and each Guarantor contained in the Credit Agreement (as amended hereby) and the other Loan Documents shall remain in full force and effect in accordance with their
terms. Without limitation of the foregoing, the foregoing waiver is 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 (as amended hereby), any other Loan Document or any of the documents referred to therein, (b) except as 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 (as amended hereby), 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 (as amended hereby), the other Loan
Documents, or any other contract or instrument. Granting the waiver 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 Precedent. This Ninth Amendment shall not become effective until the date on which each of
the following conditions is satisfied (or waived in accordance with Section 12.02 of the Credit Agreement) (the “Ninth Amendment Effective Date”): 

4.1 The Administrative Agent shall have received from the Majority Lenders, the Borrower and the Guarantors, counterparts (in such number as
may be requested by the Administrative Agent) of this Ninth Amendment signed on behalf of such Person. 
 4.2 The Administrative Agent shall
have received from the Borrower and each Guarantor (including the Parent Guarantors) counterparts (in such number as may be requested by the Administrative Agent), signed on behalf of such Person, of amendments, joinders and/or assumption agreements
with respect to each of this Agreement, the Guaranty Agreement, the Pledge Agreement and the Security Agreement, in each case with respect to the joinder of the Parent Guarantors, each of which shall be in form and substance reasonably satisfactory
to the Administrative Agent. 
 4.3 The Administrative Agent shall be reasonably satisfied that the Security Instruments create first
priority, perfected Liens on all of the Property of the Parent Guarantors, and the Administrative Agent shall have received certificates, if any, together with undated, blank stock powers for such certificates, representing all of the issued and
outstanding certificated Equity Interests in each subsidiary pledged pursuant to the Pledge Agreement. 

  
 Page 15 

 4.4 The Administrative Agent shall have received a certificate (which may be the same certificate
delivered pursuant to Section 4.8 and 4.10) of each Parent Guarantor setting forth (i) resolutions of the board of directors or other managing body with respect to the authorization of each Parent Guarantor to execute and deliver the Loan
Documents to which it is a party and to enter into the transactions contemplated in those documents, (ii) the individuals (A) who are authorized to sign the Loan Documents to which such Parent Guarantor is a party and (B) who will,
until replaced by another individual duly authorized for that purpose, act as its representative for the purposes of signing documents and giving notices and other communications in connection with this Agreement and the other Loan Documents to
which it is a party, (iii) specimen signatures of such authorized individuals, and (iv) the articles or certificate of incorporation or formation and bylaws, operating agreement or partnership agreement, as applicable, of each Parent
Guarantor, in each case, certified as being true and complete. 
 4.5 The Administrative Agent shall have received certificates of the
appropriate State agencies with respect to the existence, qualification and good standing of each Parent Guarantor, if any. 
 4.6 The
Administrative Agent shall have received an opinion of Kirkland & Ellis, LLP, special counsel to the Borrower, in form and substance reasonably satisfactory to the Administrative Agent, as to such matters as the Administrative Agent may
reasonably request. 
 4.7 The Administrative Agent shall have received an executed copy of an amendment to the Second Lien Intercreditor
Agreement, by and among the Administrative Agent, the Second Lien Administrative Agent, the Borrower and the Guarantors (including the Parent Guarantors), in form and substance reasonably satisfactory to the Administrative Agent. Each of the Lenders
party hereto hereby instructs and authorizes the Administrative Agent to enter into such amendment on its behalf. 
 4.8 The Administrative
Agent shall have received a certificate (which may be the same certificate delivered pursuant to Section 4.4 and 4.10) of a Responsible Officer of the Borrower certifying (a) that attached thereto is a true, correct and complete copy of
the Fourth Amendment to the Second Lien Credit Agreement, which shall be in form and substance reasonably satisfactory to the Administrative Agent, and shall in any event amend the Second Lien Credit Agreement in the same manner as the Credit
Agreement is to be amended by this Ninth Amendment (the “Second Lien Amendment”) and (b) as to the aggregate amount of all consent, amendment and other fees payable to the holders of the Second Lien Loans in connection with the
Second Lien Amendment and/or the Reorganization Transactions (the “Second Lien Amendment Fee”). The “Fourth Amendment Effective Date” under and as defined in the Second Lien Credit Agreement shall have occurred (or shall
occur substantially concurrently with the Ninth Amendment Effective Date). 
 4.9 The Administrative Agent and the Lenders shall have
received all fees and other amounts due and payable pursuant to the Credit Agreement on or prior to the Ninth Amendment Effective Date, including (a) fees and expenses invoiced by Paul Hastings LLP prior to the Ninth Amendment Effective Date
and (b) to the extent any Second Lien Amendment Fee or any Senior Notes Amendment Fee (as defined below) is paid by the Obligors or any Affiliate thereof, an amendment fee payable to the Administrative Agent, for the account of each Lender that
has 

  
 Page 16 

 
executed this Ninth Amendment (each such Lender, a “Consenting Lender”), in an amount equal to the greater of (i) the product of such Consenting Lender’s Applicable
Percentage of the Commitments on the Ninth Amendment Effective Date multiplied by the Second Lien Amendment Fee and (ii) the product of such Consenting Lender’s Applicable Percentage of the Commitments on the Ninth Amendment Effective Date
multiplied by the Senior Notes Amendment Fee. 
 4.10 The Administrative Agent shall have received a certificate (which may be the same
certificate delivered pursuant to Section 4.4 and 4.8) of a Responsible Officer certifying (a) that attached thereto is a true and complete copy of the amendment with respect to the Borrower’s Senior Indentures with respect to the
Reorganization Transactions (the “Senior Notes Amendment”), (b) as to the aggregate amount of all consent, amendment and other fees payable to the holders of the Senior Notes in connection with the Senior Notes Amendment and/or the
Reorganization Transactions (the “Senior Notes Amendment Fee”), (c) that the Merger Agreement and the transactions described therein have been approved by at least a majority of the votes cast of the Borrower’s limited partner
unitholders entitled to vote on the matter; (d) that the consummation of the Reorganization Transactions will not violate or result in a default under any indenture, agreement, preferred stock designation or other instrument binding upon the
Borrower or any of its Subsidiaries or their Properties, or give rise to a right thereunder to require any payment to be made by the Borrower or such Subsidiary and will not result in the creation or imposition of any Lien on any Property of the
Borrower or any of its Subsidiaries; (e) that the Reorganization Transactions have been consummated (or will be consummated substantially simultaneously with the Ninth Amendment Effective Date) pursuant to the terms and conditions set forth in
the Merger Agreement and GP Purchase Agreement and (f) neither the Merger Agreement nor the GP Purchase Agreement nor any provision thereof shall have been modified, amended, restated or waived by the Borrower or any of its Affiliates, and
neither the Borrower nor any of its Affiliates shall have granted any consent thereunder, in each case in a manner that is materially adverse to the Lenders, without the prior written consent of the Administrative Agent (it being acknowledged that
any increase in any amounts payable beyond, in the case of the GP Purchase Agreement, $3,500,000 and, in the case of the Merger Agreement, $50,000, thereunder shall be deemed to be materially adverse). 

4.11 No Default shall have occurred and be continuing as of the Ninth Amendment Effective Date. 

4.12 The Administrative Agent shall have received such other documents as the Administrative Agent or its counsel may reasonably require. 

The Administrative Agent is hereby authorized and directed to declare this Ninth Amendment to be effective and to declare the occurrence of
the Ninth Amendment Effective Date when it has received documents confirming or certifying, to the satisfaction of the Administrative Agent, compliance with the conditions set forth in this Section 4 or the waiver of such conditions as
permitted in Section 12.02 of the Credit Agreement. Such declaration shall be final, conclusive and binding upon all parties to the Credit Agreement for all purposes. 

  
 Page 17 

 Section 5. Miscellaneous. 

5.1 Confirmation. The provisions of the Credit Agreement, as amended by this Ninth Amendment, shall remain in full force and effect
following the effectiveness of this Ninth Amendment. 
 5.2 Ratification and Affirmation; Representations and Warranties. Each
Obligor hereby (a) acknowledges the terms of this Ninth Amendment; (b) ratifies and affirms its obligations under, and acknowledges 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 as expressly amended hereby; (c) represents and warrants to the Lenders that as of the date hereof, after giving effect to the terms of this Ninth Amendment: (i) all of the
representations and warranties contained in each Loan Document to which it is a party are true and correct, 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 as of such specified earlier date, (ii) no Default or Event of Default has occurred and is continuing, (iii) no event or events have occurred which individually or in the aggregate could
reasonably be expected to have a Material Adverse Effect and (iv) the Parent Guarantors, the Borrower and each of the other Guarantors reasonably expect in good faith that no additional Taxes are payable by the Parent Guarantors, the Borrower
and their respective Subsidiaries in cash as a result of the Reorganization Transactions; and (d) agrees that from and after the Ninth 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 Ninth Amendment. 
 5.3 Counterparts. This Ninth 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 this Ninth Amendment by telecopy, facsimile,
email or other electronic means shall be effective as delivery of a manually executed counterpart hereof. 
 5.4 No Oral
Agreement. This Ninth 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. 
 5.5
GOVERNING LAW. THIS NINTH AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS. 

5.6 Payment of Expenses. In accordance with Section 12.03 of the Credit Agreement, the Borrower agrees to pay or reimburse the
Administrative Agent for all of its reasonable out-of-pocket costs and reasonable expenses incurred in connection with this Ninth 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. 

  
 Page 18 

 5.7 Severability. Any provision of this Ninth 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. 
 5.8 Successors and
Assigns. This Ninth Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 

5.9 Loan Document. This Ninth 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. 
 5.10 RELEASE. FOR GOOD AND
VALUABLE CONSIDERATION, THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY ACKNOWLEDGED, THE BORROWER AND EACH OTHER OBLIGOR HEREBY, FOR ITSELF AND ITS SUCCESSORS AND ASSIGNS, FULLY AND WITHOUT RESERVE, RELEASES AND FOREVER DISCHARGES EACH LENDER, EACH
AGENT, THE ARRANGER, THE ISSUING BANK, AND EACH OF THEIR RESPECTIVE SUCCESSORS AND ASSIGNS, OFFICERS, DIRECTORS, EMPLOYEES, REPRESENTATIVES, TRUSTEES, ATTORNEYS, AGENTS, ADVISORS (INCLUDING ATTORNEYS, ACCOUNTANTS AND EXPERTS) AND AFFILIATES
(COLLECTIVELY THE “RELEASED PARTIES” AND INDIVIDUALLY A “RELEASED PARTY”) FROM ANY AND ALL ACTIONS, CLAIMS, DEMANDS, CAUSES OF ACTION, JUDGMENTS, EXECUTIONS, SUITS, DEBTS, LIABILITIES,
COSTS, DAMAGES, EXPENSES OR OTHER OBLIGATIONS OF ANY KIND AND NATURE WHATSOEVER, KNOWN OR UNKNOWN, DIRECT AND/OR INDIRECT, AT LAW OR IN EQUITY, WHETHER NOW EXISTING OR HEREAFTER ASSERTED (INCLUDING, WITHOUT LIMITATION, ANY OFFSETS, REDUCTIONS,
REBATEMENT, CLAIMS OF USURY OR CLAIMS WITH RESPECT TO THE NEGLIGENCE OF ANY RELEASED PARTY), FOR OR BECAUSE OF ANY MATTERS OR THINGS OCCURRING, EXISTING OR ACTIONS DONE, OMITTED TO BE DONE, OR SUFFERED TO BE DONE BY ANY OF THE RELEASED
PARTIES, IN EACH CASE, ON OR PRIOR TO THE DATE HEREOF AND ARE IN ANY WAY DIRECTLY OR INDIRECTLY ARISING OUT OF OR IN ANY WAY CONNECTED TO ANY OF THIS NINTH AMENDMENT, THE CREDIT AGREEMENT, ANY OTHER LOAN DOCUMENT OR ANY OF THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY (COLLECTIVELY, THE “RELEASED MATTERS”). THE BORROWER AND EACH OTHER OBLIGOR, BY EXECUTION HEREOF, HEREBY ACKNOWLEDGES AND AGREES THAT THE AGREEMENTS IN THIS SECTION 5.10 ARE INTENDED TO
COVER AND BE IN FULL SATISFACTION FOR ALL OR ANY ALLEGED INJURIES OR DAMAGES ARISING IN CONNECTION WITH THE RELEASED MATTERS. 
 5.11
Termination. Notwithstanding anything herein to the contrary, to the extent the Ninth Amendment Effective Date has not occurred by December 31, 2018, then, except as stated in the immediately following sentence, (a) this Amendment
shall be null and void and (b) the Existing Credit Agreement shall continue in full force and effect without giving effect to any amendments, waivers or other provisions contained herein shall be reinstated. Notwithstanding the foregoing, the
addition of Section 9.26 to the Existing Credit Agreement specified in Section 2.21 above shall survive any termination pursuant to this Section 5.11. 

[SIGNATURES BEGIN NEXT PAGE] 

  
 Page 19 

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

							
	BORROWER:	 		 	LEGACY RESERVES LP
				
		 		 	By:	 	Legacy Reserves GP, LLC,
		 		 		 	its general partner
				
		 		 	By:	 	 /s/ James Daniel Westcott

		 		 	Name:	 	James Daniel Westcott
		 		 	Title:	 	Executive Vice President and Chief Financial Officer
			
	GUARANTORS:	 		 	LEGACY RESERVES OPERATING LP
				
		 		 	By:	 	Legacy Reserves Operating GP LLC, its general partner
		 		 	By:	 	Legacy Reserves LP, its sole member
		 		 	By:	 	Legacy Reserves GP, LLC, its general partner
				
		 		 	By:	 	 /s/ James Daniel Westcott

		 		 	Name:	 	James Daniel Westcott
		 		 	Title:	 	Executive Vice President and Chief Financial Officer
			
		 		 	LEGACY RESERVES OPERATING GP LLC
				
		 		 	By:	 	Legacy Reserves LP, its sole member
		 		 	By:	 	Legacy Reserves GP, LLC, its general partner
				
		 		 	By:	 	 /s/ James Daniel Westcott

		 		 	Name:	 	James Daniel Westcott
		 		 	Title:	 	Executive Vice President and Chief Financial Officer

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	LEGACY RESERVES SERVICES, INC.
	
	DEW GATHERING LLC
	
	PINNACLE GAS TREATING LLC
	
	LEGACY RESERVES ENERGY SERVICES LLC
	
	LEGACY RESERVES GP, LLC
	
	LEGACY RESERVES INC.
		
	By:	 	 /s/ James Daniel Westcott

	Name:	 	James Daniel Westcott
	Title:	 	Executive Vice President and Chief Financial Officer

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

							
	ADMINISTRATIVE AGENT:	 		 	WELLS FARGO BANK, NATIONAL
		 		 	ASSOCIATION, as Administrative Agent and a Lender
				
		 		 	By:	 	 /s/ Stephanie Harrell

		 		 	Name:	 	Stephanie Harrell
		 		 	Title:	 	Vice President

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

							
	LENDERS:	 		 	COMPASS BANK
				
		 		 	By:	 	 /s/ Rachel Festervand

		 		 	Name:	 	Rachel Festervand
		 		 	Title:	 	Senior Vice President

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	UBS AG, STAMFORD BRANCH
		
	By:	 	 /s/ Darlene Arias

	Name:	 	Darlene Arias
	Title:	 	Director
		
	By:	 	 /s/ Craig Pearson

	Name:	 	Craig Pearson
	Title:	 	Associate Director

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	BANK OF AMERICA, N.A.
		
	By:	 	 /s/ Kevin M. Behan

	Name:	 	Kevin M. Behan
	Title:	 	Managing Director

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	ROYAL BANK OF CANADA
		
	By:	 	 /s/ Jay T. Sartain

	Name:	 	Jay T. Sartain
	Title:	 	Authorized Signatory

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	AG ENERGY FUNDING, LLC
		
	By:	 	 /s/ Todd Dittman

	Name:	 	Todd Dittman
	Title:	 	Authorized Signatory

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	 /s/ Stephanie Balette

	Name:	 	Stephanie Balette
	Title:	 	Authorized Officer

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	BMO HARRIS FINANCING, INC.
		
	By:	 	 /s/ Melissa Guzmann

	Name:	 	Melissa Guzmann
	Title:	 	Director

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	BARCLAYS BANK PLC
		
	By:	 	 /s/ Sydney G. Dennis

	Name:	 	Sydney G. Dennis
	Title:	 	Director

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK
		
	By:	 	 /s/ Michael Willis

	Name:	 	Michael Willis
	Title:	 	Managing Director
		
	By:	 	 /s/ Page Dillehunt

	Name:	 	Page Dillehunt
	Title:	 	Managing Director

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	CITIBANK, N.A.
		
	By:	 	 /s/ Cliff Vaz

	Name:	 	Cliff Vaz
	Title:	 	Vice President

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	SOCIETE GENERALE
		
	By:	 	 /s/ Max Sonnonstine

	Name:	 	Max Sonnonstine
	Title:	 	Director

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	 BRANCH BANKING AND TRUST

COMPANY

		
	By:	 	 /s/ Greg Krablin

	Name:	 	Greg Krablin
	Title:	 	Vice President

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	WEST TEXAS NATIONAL BANK
		
	By:	 	 /s/ C. Scott Wilson

	Name:	 	C. Scott Wilson
	Title:	 	Senior Vice President

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	FIFTH THIRD BANK
		
	By:	 	 /s/ Justin Bellamy

	Name:	 	Justin Bellamy
	Title:	 	Director

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

 
			
	BP ENERGY COMPANY
		
	By:	 	 /s/ Timothy Yee

	Name:	 	Timothy Yee
	Title:	 	Attorney-in-Fact

  

	
	 SIGNATURE PAGE

NINTH AMENDMENT TO THIRD AMENDED AND
RESTATED CREDIT AGREEMENT

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