Document:

Joinder Agreement

 Exhibit 10.1 

Execution Version 

JOINDER AGREEMENT 

THIS JOINDER AGREEMENT, dated as of August 2, 2010 (this “Agreement”), by and among
each lender signatory hereto (each a “New Term Lender” and collectively the “New Term Lenders”), NTELOS Inc., a Virginia corporation (“Borrower”), the Subsidiary Guarantors, and JPMorgan
Chase Bank, N.A. (“JPM”), as Administrative Agent and Collateral Agent. 
 RECITALS:

 WHEREAS, reference is hereby made to the Credit Agreement, dated as of August 7, 2009 (as amended, amended
and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”; terms defined therein, unless otherwise defined herein, being used herein as therein defined), by and among the Borrower, the
Subsidiary Guarantors named therein, the Lenders party thereto from time to time, and JPM as Administrative Agent and Collateral Agent; and 

WHEREAS, subject to the terms and conditions of the Credit Agreement, Borrower may obtain New Term Commitments by entering into
one or more Joinder Agreements with the New Term Lenders. 
 NOW, THEREFORE, in consideration of the premises and
agreements, provisions and covenants herein contained, the parties hereto agree as follows: 
 Each New Term Lender party hereto
hereby agrees to commit to provide its respective New Term Commitment to provide a New Term Loan (the “Additional Term B Loan”) to Borrower in the amount set forth for such New Term Lender on Schedule A annexed hereto, on the
terms and subject to the conditions set forth below: 
 Each New Term Lender (i) confirms that it has received a copy of
the Credit Agreement and the other Loan Documents, together with copies of the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into
this Agreement; (ii) agrees that it will, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit
decisions in taking or not taking action under the Credit Agreement; (iii) appoints and authorizes Administrative Agent and Collateral Agent to take such action as agent on its behalf and to exercise such powers under the Credit Agreement and
the other Loan Documents as are delegated to Administrative Agent and Collateral Agent by the terms thereof, together with such powers as are reasonably incidental thereto; and (iv) agrees that it will perform in accordance with their terms all
of the obligations which by the terms of the Credit Agreement are required to be performed by it as a New Term Lender. 
 Each
New Term Lender hereby agrees to make its New Term Commitment on the following terms and conditions: 
  

	1.	Applicable Margin. The Applicable Margin for each Additional Term B Loan shall mean, as of any date of determination, (a) in the case of Base Rate Advances,
2.75% per annum, and (b) in the case of Eurodollar Rate Advances, 3.75% per annum. 

	2.	Principal Payments. Borrower shall make principal payments on the Additional Term B Loans in installments on the dates and in the amounts set forth below:

  

				
	 Payment Date
	  	Scheduled
Repayment
of
Additional Term B Loans
	 September 30, 2010
	  	$	312,500
	 December 31, 2010
	  	$	312,500
	 March 31, 2011
	  	$	312,500
	 June 30, 2011
	  	$	312,500
	 September 30, 2011
	  	$	312,500
	 December 31, 2011
	  	$	312,500
	 March 31, 2012
	  	$	312,500
	 June 30, 2012
	  	$	312,500
	 September 30, 2012
	  	$	312,500
	 December 31, 2012
	  	$	312,500
	 March 31, 2013
	  	$	312,500
	 June 30, 2013
	  	$	312,500
	 September 30, 2013
	  	$	312,500
	 December 31, 2013
	  	$	312,500
	 March 31, 2014
	  	$	312,500
	 June 30, 2014
	  	$	312,500
	 September 30, 2014
	  	$	312,500
	 December 31, 2014
	  	$	312,500
	 March 31, 2015
	  	$	312,500
	 June 30, 2015
	  	$	312,500
	 Termination Date
	  	$	118,750,000

  

	3.	Voluntary and Mandatory Prepayments. Scheduled installments of principal of the Additional Term B Loans set forth above shall be reduced in connection with any
voluntary or mandatory prepayments of the Additional Term B Loans in accordance with Section 2.06 of the Credit Agreement; provided that the final installment payable by Borrower in respect of the Additional Term B Loans on such
date shall be in an amount, if such amount is different from the amount specified above, sufficient to repay all amounts owing by Borrower under the Credit Agreement with respect to the Additional Term B Loans. 

	4.	Other Fees. Borrower agrees that each New Term Lender may deduct from the proceeds of the Additional Term B Loans made by such New Term Lender a fee equal to
0.25% of the Additional Term B Loan commitment of such New Term Lender as set forth on Schedule A hereto. 

  

	5.	Proposed Borrowing. This Agreement represents Borrower’s request to borrow Additional Term B Loans from the New Term Lenders as follows (the
“Proposed Borrowing”): 

  

									
	a.	  	Business Day of Proposed Borrowing: August 2, 2010 (the “Additional Term B Loan Closing Date”)
		
	b.	  	Amount of Proposed Borrowing: $125,000,000.00
					
	c.	  	Interest rate option:	    	X	 	a.	 	Base Rate Loan(s)
		  		    	 ̈	 	b.	 	Eurodollar Rate Loans with an initial Interest Period of             month(s)

Each New Term Lender severally agrees, on the terms and conditions set forth in this Agreement and the Credit Agreement, to make a single
advance of the Additional Term B Loans to the Borrower on the Additional Term B Loan Closing Date in the amount of its New Term Commitment, less the fee retained by such New Term Lender pursuant to Section 4 hereof. 

 

	6.	Reserved. 

  

	7.	Credit Agreement Governs. Except as set forth in this Agreement, Additional Term B Loans shall otherwise be subject to the provisions of the Credit Agreement and
the other Loan Documents. The commitments set forth on Schedule A hereto shall constitute New Term Commitments under the Credit Agreement. 

  

	8.	Borrower’s Certifications. By its execution of this Agreement, the undersigned officer, to the best of his or her knowledge, and Borrower hereby certify
that: 

  

	 	i.	The representations and warranties contained in the Credit Agreement and the other Loan Documents are true and correct in all material respects on and as of the date
hereof to the same extent as though made on and as of the date hereof, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties were true and correct in all
material respects on and as of such earlier date; 

	 	ii.	No event has occurred and is continuing or would result from the consummation of the Proposed Borrowing contemplated hereby that would constitute a Default or an Event
of Default; 

  

	 	iii.	Borrower has performed in all material respects all agreements and satisfied all conditions which the Credit Agreement provides shall be performed or satisfied by it on
or before the date hereof; 

  

	 	iv.	The Interest Coverage Ratio, calculated by taking into account EBITDA for the four Fiscal Quarter period most recently then ended for which financial statements have
been delivered pursuant to Section 5.03(b)(iii) or (c)(ii) of the Credit Agreement and Consolidated Debt for Borrowed Money of the Borrower and its Subsidiaries as of the day of such Proposed Borrowing and after giving effect to the applicable
Proposed Borrowing, shall be not less than the level set forth with respect thereto in Section 5.04(b) of the Credit Agreement; and 

  

	 	v.	The Leverage Ratio, calculated by taking into account EBITDA for the four Fiscal Quarter period most recently then ended for which financial statements have been
delivered pursuant to Section 5.03(b)(iii) or (c)(ii) of the Credit Agreement and Consolidated Debt for Borrowed Money of the Borrower and its Subsidiaries as of the day of such Proposed Borrowing and after giving effect to the applicable
Proposed Borrowing, shall be not more than 3.75 to 1.00. 

  

	9.	Borrower Covenants. By its execution of this Agreement, Borrower hereby covenants that: 

 

	 	i.	Borrower shall deliver or cause to be delivered a legal opinion of Troutman Sanders LLP, together with all other documents reasonably requested by Administrative Agent
in connection with this Agreement; 

  

	 	ii.	Borrower shall deliver a solvency certificate in substantially the form of Exhibit H to the Credit Agreement from the chief financial officer of the Borrower, attesting
to the solvency of the Borrower and its Subsidiaries, taken as a whole, before and after giving effect to the Proposed Borrowing; 

  

	 	iii.	The Loan Parties shall deliver a closing certificate substantially in the form of Exhibit J to the Credit Agreement, certifying that the information delivered to the
Administrative Agent and the Lenders on the Closing Date has not changed, or, if such information has changed, setting forth and certifying as to such changes; 

 

	 	iv.	Borrower shall deliver an officers’ certificate with calculations (in reasonable detail) demonstrating (a) compliance with the Interest Coverage Ratio test
described in Section 5.04(b) of the Credit Agreement and (b) a Leverage Ratio of not more than 3.75 to 1.00; 

	 	v.	Each Loan Party shall have executed and delivered to the Administrative Agent a reaffirmation of liens and, in the case of the Subsidiary Guarantors, guarantees in form
and substance reasonably satisfactory to the Administrative Agent; 

  

	 	vi.	The Administrative Agent shall have received the results of a recent lien search in each relevant jurisdiction with respect to the Borrower and its Subsidiaries, and
such search shall reveal no liens on any of the assets of the Borrower and its Subsidiaries except for liens permitted by the Credit Agreement; and 

  

	 	vii.	Borrower shall deliver (a) a modification to the Mortgage in form and substance reasonably satisfactory to the Administrative Agent and (b) an endorsement to
the Mortgage Policy. 

  

	10.	Certain Amendments. Pursuant to Section 2.17 of the Credit Agreement, in order to effect the provisions of this Agreement, the Administrative Agent, the
Borrower and each New Term Lender hereby that the Credit Agreement is hereby amended as follows: 

i. Section 1.01 of the Credit Agreement is hereby amended by (x) deleting the word “and” immediately
before clause (b) of the definition of “Applicable Margin”, and (y) inserting the following at the end of clause (b) thereof: “and (c) in respect of New Term Loans constituting Additional Term B Loans,
2.75% per annum for Base Rate Advances and 3.75% per annum for Eurodollar Rate Advances”. 
 ii.
Section 1.01 of the Credit Agreement is hereby amended by inserting the following definitions in appropriate alphabetical order: 

“Additional Term B Lender” means each New Term Lender identified as such in the Additional Term B
Loan Joinder Agreement, and each other Lender from time to time holding Additional Term B Loans. 

“Additional Term B Loan Joinder Agreement” means the Joinder Agreement dated as of August 2,
2010 among the Borrower, the lenders signatory thereto, the Administrative Agent and the Collateral Agent. 

“Additional Term B Loans” means the New Term Loans in an aggregate principal amount of
$125,000,000 incurred by the Borrower pursuant to the Additional Term B Loan Joinder Agreement. 

“Additional Term B Note” means a promissory note of the Borrower payable to any Additional Term B
Lender, in substantially the form of Exhibit A-3 hereto, evidencing the indebtedness of the Borrower to such Lender resulting from the Additional Term B Loans made by such Lender, as amended. 

 “New Term Loan Information Memorandum” means the
information memorandum dated July 2010 used in connection with the syndication of the Additional Term B Loans. 

iii. Section 2.02(c)(ii) of the Credit Agreement is hereby amended and restated in its entirety as follows:

 “(ii) the Term B Advances and the Additional Term B Loans that are Eurodollar Rate Advances may not
be outstanding as part of more than ten separate Borrowings, collectively, and the Revolving Credit Advances that are Eurodollar Rate Advances may not be outstanding as part of more than five separate Borrowings”. 

iv. Section 2.06(a) of the Credit Agreement is hereby amended by inserting the following at the end thereof:
“Each such prepayment of any Additional Term B Loans shall be applied to the installments thereof on a pro rata basis.”. 

v. Section 2.11(f) of the Credit Agreement is hereby amended by inserting the phrase “and any Additional Term B
Loans” immediately after the reference to “Term B Facility” contained in the last paragraph thereof. 

vi. Section 2.16(a) of the Credit Agreement is hereby amended by amending and restating the penultimate sentence
thereof as follows: “The Borrower agrees that upon notice by any Lender Party to the Borrower (with a copy of such notice to the Administrative Agent) to the effect that a promissory note or other evidence of indebtedness is required or
appropriate in order for such Lender Party to evidence (whether for purposes of pledge, enforcement or otherwise) the Advances owing to, or to be made by, such Lender Party, the Borrower shall promptly execute and deliver to such Lender Party, with
a copy to the Administrative Agent, a Revolving Credit Note, a Term B Note and a Additional Term B Note, as applicable, in substantially the form of Exhibits A-1, A-2 and A-3 hereto, respectively, payable to such Lender Party in a principal amount
equal to the Revolving Credit Commitment, the Term B Commitment, and Additional Term B Loans, respectively, of such Lender Party.” 

vii. Section 4.01(h) of the Credit Agreement is hereby amended and restated in its entirety as follows: 

“Accuracy of Information. Neither the Information Memorandum, the New Term Loan Information Memorandum nor any
other information, exhibit or report (other than projections and forecasted financial statements and second quarter 2010 estimates of financial performance) furnished by or on behalf of any Loan Party to any Agent or any Lender Party in connection
with the negotiation and syndication of the Loan Documents or pursuant to the terms of the Loan Documents, taken as a whole collectively with all information previously 

 
furnished, contained when furnished (or, (x) in the case of the Information Memorandum, as of the date of this Agreement, or (y) in the case of the New Term Loan Information Memorandum,
as of the date of the Joinder Agreement applicable thereto) any untrue statement of a material fact or omitted to state a material fact necessary to make the statements made therein in light of the circumstances under which they were made not
misleading.” 
 viii. Section 7.05(c) of the Credit Agreement is hereby amended by (x) deleting in
its entirety that portion of the first sentence thereof commencing at clause (iv) and continuing through the end of such sentence and (y) inserting the following immediately after clause (iii) thereof: “(iv) the aggregate unused
portions of their respective commitments in respect of Additional Term B Loans and (v) their respective Unused Revolving Credit Commitments at such time; provided that the aggregate principal amount of Swing Line Advances owing to the
Swing Line Bank and of Letter of Credit Advances owing to the Issuing Bank shall be considered to be owed to the Revolving Credit Lenders ratably in accordance with their respective Revolving Credit Commitments.” 

ix. A new Exhibit A-3 is hereby added to the Credit Agreement in the form of Annex I hereto. 

 

	11.	Eligible Assignee. By its execution of this Agreement, each New Term Lender represents and warrants that it is an Eligible Assignee. 

 

	12.	Notice. For purposes of the Credit Agreement, the initial notice address of each New Term Lender shall be as contemplated by Section 9.02 of the Credit
Agreement. 

  

	13.	Non-US Lenders. For each New Term Lender that is a Non-US Lender, delivered herewith to Administrative Agent are such forms, certificates or other evidence with
respect to United States federal income tax withholding matters as such New Term Lender may be required to deliver to Administrative Agent pursuant to Section 2.12(e) of the Credit Agreement. 

 

	14.	Recordation of the New Loans. Upon execution and delivery hereof, Administrative Agent will record the Additional Term B Loans made by New Term Lenders in the
Register. 

  

	15.	Amendment, Modification and Waiver. This Agreement may not be amended, modified or waived except in accordance with Section 9.01 of the Credit Agreement.

  

	16.	Entire Agreement. This Agreement, the Credit Agreement and the other Loan Documents constitute the entire agreement among the parties with respect to the subject
matter hereof and thereof and supersede all other prior agreements and understandings, both written and verbal, among the parties or any of them with respect to the subject matter hereof. 

	17.	GOVERNING LAW. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ANY CONFLICTS OF LAWS PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAWS OF THE STATE OF NEW YORK. 

 

	18.	Waiver of Jury Trial. Each of the Borrower, the Agents and the New Term Lenders irrevocably waives all right to trial by jury in any action, proceeding or
counterclaim (whether based on contract, tort or otherwise) arising out of or relating to this Agreement, the Additional Term B Loans or the actions of any Agent or any New Term Lender in the negotiation, administration, performance or enforcement
thereof. 

  

	19.	Jurisdiction, Etc. 

i. Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the
exclusive jurisdiction of any New York State court or Federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement or
any of the other Loan Documents to which it is a party, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may
be heard and determined in any such New York State court or, to the fullest extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 
 ii. Each of
the parties hereto irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or
relating to this Agreement or any of the other Loan Documents to which it is a party in any New York State or Federal court. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient
forum to the maintenance of such action or proceeding in any such court. 
  

	20.	Severability. Any term or provision of this Agreement which is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the
extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Agreement or affecting the validity or enforceability of any of the terms or provisions of this Agreement in any
other jurisdiction. If any provision of this Agreement is so broad as to be unenforceable, the provision shall be interpreted to be only so broad as would be enforceable. 

 

	21.	Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same
agreement. Delivery by telecopier or other electronic means of an executed counterpart of a signature page to this Agreement shall be effective as delivery of an original executed counterpart of this Agreement. 

[Remainder of page intentionally left blank] 

 IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to
execute and deliver this Joinder Agreement as of the date first written above. 
  

			
	JPMORGAN CHASE BANK, N.A., as New Term
Lender
		
	By:	 	 /s/ John G. Kowalczuk

	Name:	 	John G. Kowalczuk
	Title:	 	Executive Director
	
	COBANK, ACB, as New Term Lender
		
	By:	 	 /s/ Gloria S. Hancock

	Name:	 	Gloria S. Hancock
	Title:	 	Vice President

			
	NTELOS INC.
		
	By:	 	 /s/ Michael B. Moneymaker

	Name:	 	Michael B. Moneymaker
	Title:	 	Executive Vice President, Chief Financial Officer, Secretary and Treasurer
	
	NA COMMUNICATIONS, INC.
	NTELOS CABLE INC.
	NTELOS CABLE OF VIRGINIA INC.
	NTELOS COMMUNICATIONS INC.
	NTELOS COMMUNICATIONS SERVICES INC.
	NTELOS CORNERSTONE INC.
	NTELOS LICENSES INC.
	NTELOS MEDIA INC.
	NTELOS NETACCESS INC.
	NTELOS NET LLC
	NTELOS NETWORK INC.
	NTELOS OF WEST VIRGINIA INC.
	NTELOS PCS INC.
	NTELOS PCS NORTH INC.
	R&B CABLE, INC.
	R&B COMMUNICATIONS, INC.
	R&B NETWORK, INC.
	RICHMOND 20MHZ, LLC
	ROANOKE & BOTETOURT NETWORK LLC
	THE BEEPER COMPANY
	VIRGINIA RSA 6 LLC
	VIRGINIA PCS ALLIANCE, L.C.
	VIRGINIA TELECOMMUNICATIONS PARTNERSHIP
	WEST VIRGINIA PCS ALLIANCE, L.C.
		
	By:	 	 /s/ Michael B. Moneymaker

	Name:	 	Michael B. Moneymaker
	Title:	 	Executive Vice President, Chief Financial Officer, Secretary and Treasurer

			
	Consented to by:
	
	 JPMORGAN CHASE BANK, N.A.,

as Administrative Agent and Collateral Agent

		
	By:	 	 /s/ John G. Kowalczuk

	Name:	 	John G. Kowalczuk
	Title:	 	Executive Director

 SCHEDULE A 

TO JOINDER AGREEMENT 
  

						
	 Name of Lender
	  	Type of
Commitment	  	Amount
	JPMorgan Chase Bank, N.A.	  	New Term Commitment for
Additional Term B Loans	  	$	85,000,000
	CoBank, ACB	  	New Term Commitment for
Additional Term B Loans	  	$	40,000,000
		  		  	 	 
		  		  	 	Total: $125,000,000
		  		  	 	 

 Annex I 

Exhibit A-3 – Form of Additional Term B Note 

 

			
	$            	  	Dated:                  ,       
 

 FOR VALUE RECEIVED, the undersigned, NTELOS INC., a Virginia corporation (the
“Borrower”), HEREBY PROMISES TO PAY                      or its registered assigns (the
“Lender”) for the account of its Applicable Lending Office (as defined in the Credit Agreement referred to below) the principal amount of the Additional Term B Loans owing to the Lender by the Borrower pursuant to the Credit
Agreement dated as of August 7, 2009 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”; terms defined therein, unless otherwise defined herein, being used
herein as therein defined) among the Borrower, the Subsidiary Guarantors, the Lender and certain other Lender Parties party thereto, and JPMorgan Chase Bank, N.A., as Administrative Agent and Collateral Agent for the Lender and such other Lender
Parties, on the dates and in the amounts specified in the Credit Agreement. 
 The Borrower promises to pay to the Lender or its
registered assigns interest on the unpaid principal amount of the Additional Term B Loans from the date of such Additional Term B Loans until such principal amount is paid in full, at such interest rates, and payable at such times, as are specified
in the Credit Agreement. 
 Both principal and interest are payable in lawful money of the United States of America to the
Administrative Agent, at the Administrative Agent’s Account, in same day funds. The Additional Term B Loans owing to the Lender by the Borrower and the maturity thereof, and all payments made on account of principal thereof, shall be recorded
by the Lender and, prior to any transfer hereof, endorsed on the grid attached hereto, which is part of this Additional Term B Note; provided, however, that the failure of the Lender to make any such recordation or endorsement shall not affect the
Obligations of the Borrower under this Additional Term B Note. 
 This Additional Term B Note is one of the Notes referred to
in, and is entitled to the benefits of, the Credit Agreement. The Credit Agreement, among other things, (i) provides for the borrowing of Additional Term B Loans by the Lender to the Borrower in an amount not to exceed the U.S. dollar amount
first above mentioned, the indebtedness of the Borrower resulting from such Additional Term B Loans being evidenced by this Additional Term B Note, and (ii) contains provisions for acceleration of the maturity hereof upon the happening of
certain stated events and also for prepayments on account of principal hereof prior to the maturity hereof upon the terms and conditions therein specified. The obligations of the Borrower under this Additional Term B Note and the other Loan
Documents, and the obligations of the other Loan Parties under the Loan Documents, are secured by the Collateral as provided in the Loan Documents. 

This Additional Term B Note shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York.

 IN WITNESS WHEREOF, the undersigned has executed this Additional Term B Note as of the day
and year first above written. 
  

			
	NTELOS INC.
		
	By	 	  

		 	Title:

 ADVANCES AND PAYMENTS OF PRINCIPAL 

 

									
	 Date
	  	Amount of Advance	  	Amount of Principal Paid or
Prepaid	  	Unpaid Principal Balance	  	Notation
Made

ByParticipation Agreement

 Exhibit 10.1 

PARTICIPATION AGREEMENT 

DERBY PROSPECT 

FRIO COUNTY, TEXAS 

This Agreement (“Agreement”) is made and entered into effective as of May 24, 2010 (“Effective Date”), by and
between Turnham Interests, Inc. (“Turnham”), and Goodrich Petroleum Company, L.L.C. (“Goodrich”), regarding the geographical area within which Goodrich will explore, develop and operate for the production of oil and gas. Both
Turnham and Goodrich shall sometimes be referred to in this Agreement, singularly as “Party” or collectively as “Parties”, as applicable. 

In consideration of the premises and the terms, covenants, conditions and benefits of the Parties, and other valuable consideration paid
each to the other, the receipt and sufficiency of which are hereby acknowledged, Turnham and Goodrich agree as follows: 
 I.

 PROSPECT PROPERTIES 
  

	1.1	Prospect Leases. Turnham represents, with special warranty of title that it owns the leasehold rights to those certain oil and gas leases (the “Prospect
Leases”, whether one or more) described in Exhibit “A” attached hereto, insofar and only insofar as same relate to and covers the rights and interests below the base of the Austin Chalk formation (the “Deep Rights”) in and
to lands highlighted in blue within the Derby Prospect (“Prospect”) in Frio County, Texas, which “Prospect Area” is shown on the plat attached hereto as Exhibit “A-1” covering approximately 812.83 net mineral acres of
land, more or less. 

  

	1.2	Review of Leases and Data. Turnham shall provide Goodrich reasonable access to all its contract, land, lease, and related records and files for examination of
the Prospect Leases. Goodrich shall have a period commencing on the Effective Date and ending fourteen (14) days following the Effective Date, to complete its review of the Prospect Leases. Goodrich may make such further examination of title to
the Prospect Leases as Goodrich deems necessary or desirable as a matter of Goodrich’s sole discretion. Within the review period, Goodrich shall notify Turnham whether or not Goodrich has determined title to be good and marketable and otherwise
acceptable, and in the event title is not determined to be acceptable to Goodrich, Turnham shall have the option (but not the obligation) to satisfy any such title objections prior to closing on the oil and gas lease in question. The Parties shall
use reasonable efforts to resolve all of the title objections of Goodrich, such that Turnham can deliver good and marketable title. In the event the title objections are not satisfied in Goodrich’s sole opinion, Goodrich has the option to
terminate this Agreement as to all or any one of the Prospect Leases. 

 II. 

ACQUISITION COSTS 
  

	2.1	Acquisition Costs. At closing, Goodrich shall pay to Turnham in cash the sum of One Thousand Two Hundred Fifty and No/100 Dollars ($1,250.00.00) per net mineral
acre for a 95% interest in the Prospect Leases (the “Acquisition Costs”), subject to burdens out of production of 25% of 8/8, proportionately reduced, in the respective Prospect Leases. The closing of the acquisition shall occur within
fourteen (14) days of the Effective Date herein. The payment of the Acquisition Costs shall be by wire transfer of immediately available funds into an account designated by Turnham according to Turnham”s wiring instructions as set forth on
Exhibit “D” attached hereto. 

 III. 

OWNERSHIP INTERESTS; COST ALLOCATION 
  

	3.1	Ownership Interests. Except as otherwise provided by other provisions of this Agreement or the Operating Agreement, the Parties shall own the undivided leasehold
interest and working interest set forth opposite their respective names in and to all of the Prospect Leases, Initial Test Well and any other rights and interests granted or provided herein (“Ownership Interest”) as follows:

  

				
	 PARTIES
	  	WORKING INTEREST	 
		
	 Goodrich
	  	95.00	% 
	 Turnham
	  	5.00	% 

  

	3.2	Cost Allocation. Except as otherwise provided in this Agreement or the Operating Agreement (defined below), all direct cost of acquiring and maintaining the
Prospect Leases after the Effective Date hereof and all costs of developing and producing oil, gas and associated hydrocarbons from the Prospect Leases and the Test Well shall be borne by the Parties in the percentage of their Ownership Interest,
including without limitation in the manner provided in the Accounting Procedure attached as Exhibit “C” to the Operating Agreement. 

  

 2 

 IV. 

TEST WELL; SUBSEQUENT OPERATIONS 
  

	4.1	Initial Test Well. Goodrich and Turnham hereby agree to participate in the drilling of an initial test well (“Initial Test Well”) at a location to be
selected by Goodrich within the lands covered by the Prospect Leases, or lands pooled therewith, upon the terms and conditions set forth in this Agreement. If the Prospect Leases are pooled with adjacent acreage for the Initial Test Well, the
Prospect Leases shall comprise at least 50% of the pooled unit. The Initial Test Well shall be drilled to a depth sufficient to adequately test the Eagleford formation, defined as being the logged interval between 7,934 feet and 8,050 feet as seen
on the dual induction neutron density log dated March 7, 1982, for the Energy Resources Group M.D. Burns #8 well located in the A.G. Moore Survey, Abstract 577, LaSalle County, Texas (the “Objective Depth”), and thereafter complete
such well as a well capable of producing oil and/or gas in paying quantities or plug and abandon same as a dry hole. 

  

	4.2	Costs of Initial Test Well. Goodrich shall pay 100% of all costs, risks and expenses of drilling, testing and completing the Initial Test Well through the meter
at the sales point, including, without limitation, the costs of plugging and abandonment if a dry hole, and thereby carry Turnham for its 5% working interest (the “Initial Carry Amount”). If the Initial Test Well is drilled on a pooled
unit and therefore the Initial Carry Amount is not fully paid, the remainder of the Initial Carry Amount shall be spent on the next subsequent well drilled on the Prospect Leases, or lands pooled therewith. All operations subsequent to the
completion of the Initial Test Well (subject to satisfaction of the Initial Carry Amount on subsequent well(s)), and thereafter, all subsequent wells or operations shall be conducted and borne by the Parties in proportion to their respective
leasehold interests as set out in Exhibit “A” to the Operating Agreement, which is the same as their Ownership Interest in Section 3.1 of this Agreement. 

 

	4.3	Drilling Access. Turnham or its designated employees, agents or consultants, shall have full and free access, at its sole risk, cost and liability, to the
derrick floor and a right to receive daily drilling reports on the progress of any test well drilled on the Prospect Leases, or lands pooled therewith, as well as copies of all logs and well completion reports, all test data and information, and
such other well data as may be reasonably requested in writing by Turnham with respect to such well, including without limitation any other information to which Goodrich is entitled under the terms of the Operating Agreement, but expressly subject
to the provisions of Art. VI. D. of the Operating Agreement. 

  

	4.4	Substitute Well. In the event mechanical problems or impenetrable strata or other conditions, are encountered in the drilling of the Initial Test Well which
would render further drilling impracticable, and such well has not reached the Objective Depth or such conditions as would make the completion of the Initial Test Well impractical, the Parties shall advise Operator within twenty (20) days after
receipt of Operator’s notice (or twenty-four (24) hours if the rig is on location) to plug and abandon the Initial Test Well and proceed with the Substitute Well. Such Substitute Well shall thereafter be drilled and completed under the
same terms, provisions, and manner as provided herein for the Initial Test Well or other well for which it is a substitute and will then become the Initial Test Well for the purposes of this Agreement. 

 

 3 

 V. 

OPERATING AGREEMENT 
  

	5.1	Area of Mutual Interest. The Parties hereby create an Area of Mutual Interest (“AMI”) comprising all of the lands lying within the geographical area
defined as the Contract Area of the Operating Agreement and defined herein as the Prospect Area, which AMI shall remain in force and effect according to the terms and provisions of Art. XVI.K. of the Operating Agreement. 

 

	5.2	Operating Agreement. The Parties shall execute contemporaneously herewith an Operating Agreement, identical to the one which is attached hereto as Exhibit
“C” (“Operating Agreement”), which shall be effective for all purposes as of the closing date of this Agreement, to acknowledge their acceptance and agreement to its terms and provisions. This Agreement, the Prior Agreement and
the Operating Agreement, and all of the terms and provisions thereof respectively, shall be construed together as one instrument and all such instruments considered together shall govern and control all operations, activities and production as a
result thereof within the AMI and all rights, liabilities, duties and obligations of the Parties each to the other. In the event of any conflict between this Agreement, the Prior Agreement and the Operating Agreement, this Agreement shall prevail to
the extent of any such conflict. 

  

	5.3	Designated Operator. The Parties hereby designate Goodrich Petroleum Company L.L.C., as the “Operator”, under the terms of the Operating Agreement and
as used in this Agreement for all purposes. 

  

	5.4	Insurance. Unless a Party notifies Operator in writing prior to the commencement of operations for the drilling of any test well that such Party elects to insure
itself, and provides Operator with a certificate of insurance evidencing such self insurance, Operator shall maintain the insurance coverage required by Art. VII. G. of the Operating Agreement at all times during the term of this Agreement. Should
Operator obtain insurance coverage in addition to the insurance coverage provided for in the Operating Agreement, including without limitation Operator’s Extra Expense (“Well Control”) insurance, Operator shall notify the Parties in
writing of the amount of additional coverage and their cost for same, and such Parties shall then notify Operator in writing whether not they elect to be covered by such additional insurance. If Operator does not receive a written response from any
Party within ten (10) days after receipt of notice, such Party will be deemed to have elected to be covered by such additional insurance and the costs of such additional insurance will be paid by the Party after receipt of an invoice from
Operator. If a Party elects not to be covered by such additional insurance, the Party will provide Operator, prior to the commencement of any operations, with a certificate of insurance evidencing such insurance, and in the case of Well Control
insurance the amount of such insurance shall not be less than $5,000,000.00 per occurrence. 

  

 4 

 VI. 

ASSIGNMENTS AND LEASE BURDENS 
  

	6.1	General. Subject to the terms of this Agreement, Turnham will assign to Goodrich an undivided ninety-five (95%) interest in and to all of its rights, title
and interest in the Prospect Leases from the base of the Austin Chalk to the base of the Buda formation effective as of the Effective Date of this Agreement; and Turnham shall deliver the assignment simultaneous with receipt of the funds set forth
in Section 2.1 of this Agreement. Turnham shall deliver a net revenue interest (“NRI”) equal to 75% of 8/8 in each of the Prospect Area Leases, proportionately reduced by the interest assigned to Goodrich. Thereafter, unless otherwise
provided herein, assignments of subsequently acquired oil and gas leases or other interests in and to oil and gas within the Prospect Area will be executed and delivered as provided in the Operating Agreement. 

 

	6.2	Form of Assignment. Any and all assignments referred to in this Agreement shall be delivered to Goodrich as provided in this Agreement and in the form attached
hereto as Exhibit “C.” 

  

	6.3	Delay Rentals and Shut-in Royalties. Turnham shall pay all delay rentals, shut-in royalties or other payments required under the terms of the Prospect Leases for
all periods prior to ninety (90) days following the Effective Date of this Agreement; and thereafter, Goodrich shall pay all delay rentals, shut-in royalties or other payments required under the terms of the Prospect Leases in the manner as
provided in Art. VII. E. of the Operating Agreement. 

  

 5 

 VII. 

PROSPECT INFORMATION 
  

	7.1	Copies of Prospect Data. Following execution and delivery of this Agreement and the Operating Agreement provided in Section 5.1 above, Turnham shall furnish
to Goodrich, at its sole cost and expense, a copy of all oil and gas leases, lease purchase reports, plats, assignments, letter agreements, road use agreements, title opinions, drilling permits and any other documents, geological data, and records
in Turnham’s possession to the extent that such information is material to and relates to the Prospect Area, except to the extent Turnham is restricted from disclosing such information by existing agreements with third parties.

 VIII. 

GENERAL PROVISIONS 
  

	8.1	Term. This Agreement shall remain in full force and effect for the greater of a period of three (3) years from the Effective Date, or for so long as there
shall be commercial production from the Deep Rights under the Prospect Leases. 

  

	8.2	Notices. All notices and other communications to either Party shall be provided to the other Party in the manner set forth in Art. XII of the Operating
Agreement. Until a change of address is communicated as indicated above, all notices to either Party shall be addressed to the Parties’ representatives as set forth on Exhibit “A” of the Operating Agreement. 

 

	8.3	Failure to Respond. The failure to any Party to timely respond or notify the other Party pursuant to any notice or election required under this Agreement shall
be governed by the Operating Agreement, as applicable, unless otherwise provided herein. 

  

	8.4	Successors and Assigns Bound. This Agreement shall extend to, be binding upon, and inure to the benefit of the Parties and their respective successors and
assigns for all purposes. 

  

	8.5	Governing Law. The Agreement and all matters pertaining hereto, including but not limited to matters of performance, non-performance, breach remedies,
procedures, rights, duties, and interpretations or construction, shall be governed and determined by the law of the State of Texas. 

  

 6 

	8.6	Headings and Subheadings. Except when comprising a part of a sentence, the headings and subheadings, used in this instrument are provided for reference purposes
only and shall not be construed to interpret or amend part of the text hereof. 

  

	8.7	Non-Executory Contract. The Parties agree that it is their intention that the Agreement shall not be treated as an executory contract under the federal
bankruptcy laws. If, however, a court determines, despite the specific stated intention of the Parties, that the Agreement is executory, then for purposes of assuming or rejecting the Agreement, the Agreement shall not be severable, but rather must
be assumed or rejected in its entirety. If rejected, the Party whose interest is subject to the federal bankruptcy court shall be deemed in default under this Agreement and shall relinquish all of its rights, titles and interests to the other Party
or Parties in the proportion of their interests at such time. 

  

	8.8	Entire Agreement. This Agreement together with all exhibits attached hereto constitute the entire contract between the Parties, and there are no agreements,
undertakings, obligations, promises, assurance or conditions, whether precedent or otherwise, except those specifically set forth. The Agreement may only be modified or altered by a document in writing and executed subsequent to the date hereof by
all Parties subject to the Agreement. All exhibits hereto are incorporated herein by reference thereto for all purposes. 

  

	8.9	Additional Documents and Acts. In connection with the Agreement, as well as all transactions contemplated by the Agreement, the Parties agree to execute and
deliver all such additional documents, and instruments and to perform such additional acts as may be necessary or appropriate to effectuate and perform all of the terms, provisions and conditions of the Agreement and all such transactions.

  

	8.10	Waiver. No consent or waiver, express or implied, by any Party to or of any breach or default by any other Party and the performance by that other Party of its
duties or obligations hereunder shall be deemed or construed to be a consent or waiver to or for any other breach or default in the performance by such Party of the same or any other duties or obligations of such Party hereunder.

  

	8.11	Severability. If any provision or term of the Agreement, or the application of such provision or term to any Party or circumstance, shall be held invalid, the
remainder of the Agreement, or the application of such provision or term to Parties or circumstances other than those particular Parties or circumstances, shall not be affected thereby. 

 

	8.12	Multiple Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed an original and all of which when taken together
shall constitute but one and the same Agreement. 

  

 7 

 IX. 

EXHIBITS 
  

	9.1	Exhibits. The following exhibits, which are attached hereto, are incorporated herein for all purposes by reference thereto: 

 

	 	(a)	Exhibit “A” is a schedule that describes the Prospect Leases for the purposes of this Agreement. Exhibit “A-1” is a plat setting forth the Prospect
Leases 

  

	 	(b)	Exhibit “B” is the form of Operating Agreement to be executed by the Parties concurrent with the execution of this Agreement. 

 

	 	(d)	Exhibit “C” is a form of the Assignment to be executed by the Parties, when required, as provided in this Agreement. 

 

	 	(e)	Exhibit “D” is the wiring instructions of Turnham for the wire transfer of funds as provided in Section 2.1 of this Agreement. 

All other terms defined elsewhere in this Agreement or the Operating Agreement shall have the meanings ascribed thereto for all purposes
as set forth in such other provisions of this Agreement or the Operating Agreement. 
 IN WITNESS WHEREOF, each of the parties
hereto has executed this Agreement on this the 24 day of May 2010, but effective as of the Effective Date, except as otherwise provided herein. 
  

									
	TURNHAM INTERESTS, INC.	 		 	GOODRICH PETROLEUM COMPANY, L.L.C.
					
	By	 	 	 		 	By	 	 
		 	Robert C. Turnham, Jr.	 		 		 	
		 	President	 		 		 	

  

 8 

 Exhibit “A-1” 

Attached to and made a part of that certain Operating Agreement dated May 24, 2010, by and between Goodrich Petroleum Company, L.L.C., as Operator,
and Turnham Interests, Inc., as Non-Operator. 
  

	1)	Description of Contract Area Land subject to the agreement: 

For the Acreage within the boundaries of the Contract Area see Exhibit A-1 to the Participation Agreement, dated May 24 , 2010,
between Goodrich Petroleum Company, L.L.C. and Turnham Interests, Inc., to which this Operating Agreement is attached. 
  

	2)	Restrictions, if any, as to depths, formations, or substances: only those subsurface depths below the base of the Austin Chalk formation as set forth in the
Participation Agreement dated May 24, 2010 between the parties to which this Operating Agreement is attached, 

  

	3)	Parties to the agreement: 

Goodrich Petroleum Company, L.L.C. 

Attention: Mr. Michael J. Killelea 

801 Louisiana, Suite 700 

Houston, Texas 77002 

Phone: 713 780-9494 

Fax: 713 780-9254 

E-mail: MikeK@goodrichpetroleum.com 

Turnham Interests, Inc., 

Attention: Robert Turnham 

801 Louisiana, Suite 700 

Houston, Texas 77002 

Phone: 713 780-9494 

Fax: 713 780-9254 

E-mail: RobertT@goodrichpetroleum.com 
  

	4)	Interests of Parties to this Agreement: 

A. Working Interest after expiration of Due Diligence Period, if no title dispute(s) exist and upon payment by Goodrich Petroleum Company,
L.L.C. to Turnham Interests, Inc. of Upfront Payment in accordance with the Participation Agreement between Goodrich Petroleum Company, L.L.C. and Turnham Interests, Inc., dated May 24, 2010, to which this Operating Agreement is attached:

  

 9 

				
	 Goodrich Petroleum Company, L.L.C.
	  	95.00	% 
	 Turnham Interests, Inc.,
	  	5.000	% 
		  	 	 
		  	100.00	% WI 

 B.
Working Interest before Production Sales Point in the Initial Test Well if drilled by Goodrich Petroleum Company, L.L.C.: 
  

				
	Goodrich Petroleum Company, L.L.C.	  	100.00	% WI 

 C.
Working Interest in the Initial Test Well at Production Sales Point, if drilled by Goodrich, as described in the Participation Agreement between Goodrich Petroleum Company, L.L.C. and Turnham Interests, Inc., dated May 24, 2010, to which this
Operating Agreement is attached: 
  

				
	 Goodrich Petroleum Company, L.L.C.
	  	95.00	% 
	 Turnham Interests, Inc.,
	  	5.000	% 
		  	 	 
		  	100.00	% WI 

 D.
Working Interest if Turnham Interests, Inc. elects to participate for the drilling and completion operations in any Subsequent Wells proposed after the Initial Test Well, if drilled by Goodrich Petroleum Company, L.L.C., as described in the
Participation Agreement between Goodrich Petroleum Company, L.L.C. and Turnham Interests, Inc., dated May 24, 2010, to which this Operating Agreement is attached: 
  

				
	 Goodrich Petroleum Company, L.L.C.
	  	95.00	% 
	 Turnham Interests, Inc.,
	  	5.000	% 
		  	 	 
		  	100.00	% WI 

  

	5)	Oil, Gas and Mineral Lease(s) subject to this agreement: See Exhibit “A-2” attached hereto for the leases subject to this agreement. 

 

	6)	Burdens on production: Leases within this agreement are burdened with Lessors’ royalties. 

 

 10

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