Document:

Form of Exchange Note

 Exhibit 4.4 
 Form of Note 
 THIS NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY OR A SUCCESSOR DEPOSITORY. THIS NOTE IS NOT EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITORY OR ITS NOMINEE EXCEPT
IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER
NOMINEE OF THE DEPOSITORY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 
 UNLESS THIS NOTE
IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (THE “DEPOSITORY”), TO THE COMPANY OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

 GREEN FIELD ENERGY SERVICES, INC. 

13% SENIOR SECURED NOTES DUE 2016 
  

			
	CUSIP No.
                                	  	
	 No.             
	  	
$                

or such other principal amount as
 shall be set forth in the Schedule
 of Exchanges of Interests in the

Global Note attached hereto

 Green Field Energy Services, Inc., a Delaware corporation (the “Company”), for value
received promises to pay to CEDE & CO., INC., or registered assigns, the principal sum of                      or such other principal
amount as shall be set forth in the Schedule of Exchanges of Interests in the Global Note attached hereto on November 15, 2016, and to pay interest thereon as hereinafter set forth. 

Interest Rate: 13%. 
 Interest Payment Dates: November 15 and May 15, commencing May 15, 2012. 
 Record Dates: November 1 and May 1. 
 Reference is made to the further
provisions of this Note contained on the reverse side of this Note, which will for all purposes have the same effect as if set forth at this place. 

 IN WITNESS WHEREOF, the Company has caused this Note to be signed manually or by facsimile
by its duly authorized officer. 
  

			
	GREEN FIELD ENERGY SERVICES, INC.
		
	By:	 	
		 	  

		 	Name:
		 	Title:

 Dated:
                         

 TRUSTEE CERTIFICATE OF AUTHENTICATION 

This is one of the 13% Senior Secured Notes due 2016 referred to in the within-mentioned Indenture. 

 

							
		 		 	 WILMINGTON TRUST, NATIONAL ASSOCIATION,
     as Trustee

				
	Dated:                	 		 	By:	 	 
	Authorized Signatory	 		 		 	
		 		 		 	

 [Reverse of Note] 
 13% Senior Secured Note due 2016 
 (1) Interest. Green Field Energy
Services, Inc., a Delaware corporation (the “Company”), promises to pay interest on the principal amount of this Note at the rate per annum shown above. Interest on the Note will accrue from the most recent date on which interest
has been paid or, if no interest has been paid, from and including the date of issuance. The Company will pay interest in cash semi-annually in arrears on each Interest Payment Date, commencing on May 15, 2012. Interest will be computed on the
basis of a 360-day year comprised of twelve 30-day months. The Company shall pay interest on overdue principal (including interest accruing at the then applicable rate provided in the Notes Documents after the occurrence of any Event of Default
set forth in Section 6.01(9) or (10) of the Indenture, whether or not a claim for post-filing or post-petition interest is allowed under applicable law following the institution of a proceeding under bankruptcy, insolvency or similar laws)
at 1% per annum in excess of the rate per annum set forth in the Notes (the “Default Rate”), and it shall pay interest on overdue installments of interest, if any, at the same Default Rate to the extent lawful.

 (2) Method of Payment. The Company shall pay interest on the Notes (except defaulted interest) to the Persons who are
the registered Holders at the close of business on the Record Date immediately preceding the Interest Payment Date even if the Notes are cancelled on registration of transfer or registration of exchange after such Record Date, and on or before such
Interest Payment Date. Holders must surrender Notes to a Paying Agent to collect principal payments. The Company shall pay principal and interest in money of the United States that at the time of payment is U.S. Legal Tender. However, the Company
may pay principal and interest by check payable in such U.S. Legal Tender. The Company shall deliver any such interest payment to the Paying Agent for delivery to a Holder at the Holder’s registered address. 

(3) Paying Agent and Registrar. Initially, Wilmington Trust, National Association (the “Trustee”) will act as
Paying Agent and Registrar. The Company may change any Paying Agent, Registrar or co-Registrar without notice to the Holders. The Company or any of its Subsidiaries may act as Paying Agent or Registrar. 

(4) Indenture. The Notes were issued under an Indenture, dated as of November 15, 2011 (the “Indenture”), by
and between the Company, the Guarantors, the Trustee and Collateral Agent. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939 (15 U.S. Code
§§ 77aaa-77bbbb) (the “TIA”), as in effect on the date of the Indenture until such time as the Indenture is qualified under the TIA, and thereafter as in effect on the date on which the Indenture is qualified under
the TIA. Notwithstanding anything to the contrary herein, the Notes are subject to all such terms, and Holders of Notes are referred to in the Indenture and the TIA for a statement of such terms. The Notes are senior secured obligations of the
Company. Each Holder, by accepting a Note, agrees to be bound by all of the terms and provisions of the Indenture, as the same may be amended from time to time. Capitalized terms herein are used as defined in the Indenture unless otherwise defined
herein. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provision of the Indenture shall govern and be controlling. 
 (5) Redemption. 
 (a) Optional Redemption on or after
November 15, 2014. Except as described in clauses (b) and (c) of this paragraph 5 below, the Notes are not redeemable before November 15, 2014. Thereafter, the Company may redeem on any one or more occasions all or a part of
the Notes upon not less than 30 nor more than 60 days’ notice, at the Redemption Prices 

 
(expressed as percentages of principal amount) set forth below plus accrued and unpaid interest and Additional Interest, if any, on the Notes redeemed, to the applicable redemption date, if
redeemed during the twelve-month period beginning on November 15 of the years indicated below, subject to the rights of Holders of Notes on the relevant Record Date to receive interest on the relevant Interest Payment Date: 

 

					
	 Year
	  	Percentage	 
	 2014
	  	 	109.750	% 
	 2015
	  	 	100.000	% 

 (b) Optional Redemption Upon Equity Offerings. At any time prior to November 15, 2014, the
Company may on any one or more occasions redeem up to 35% of the aggregate principal amount of Notes issued under the Indenture (calculated after giving effect to the issuance of any Additional Notes) upon not less than 30 nor more than 60
days’ prior notice, at a Redemption Price of 113.000% of the principal amount of the Notes redeemed, plus accrued and unpaid interest and Additional Interest, if any, to the redemption date (subject to the rights of Holders of Notes on the
relevant Record Date to receive interest due on the relevant Interest Payment Date), with the net cash proceeds of one or more bona fide public or private sales of common Equity Interests (other than Disqualified Stock) of the Company to one or more
Persons who are not Affiliates, officers, directors or employees of the Company or any of its Subsidiaries; provided that: 
 (i) at least 65% of the aggregate principal amount of Notes originally issued under the Indenture (calculated after giving effect to the issuance of any Additional Notes) (excluding Notes held by the
Company and its Subsidiaries) remains outstanding immediately after the occurrence of each such redemption; and 

(ii) the redemption occurs within 90 days of the date of the closing of such sale of Equity Interests. 

(c) Optional Redemption prior to November 15, 2014. At any time prior to November 15, 2014, the Company may also on any
one or more occasions redeem all or a part of the Notes, upon not less than 30 nor more than 60 days’ prior notice, at a Redemption Price equal to 100% of the principal amount of Notes redeemed plus the Applicable Premium as of, and accrued and
unpaid interest and Additional Interest, if any, to, the date of redemption, subject to the rights of Holders of Notes on the relevant Record Date to receive interest due on the relevant Interest Payment Date. 

(d) Notice of Redemption. Notice of redemption will be mailed by electronic submission (for Global Notes) or first-class mail at
least thirty (30) days but not more than sixty (60) days before the Redemption Date to the Trustee and to each Holder to be redeemed at its registered address. In the event that the Company choose to redeem less than all of the Notes,
selection of the Notes for redemption will be made by the Trustee either on a pro rata basis or, for Global Notes, based on a method that most nearly approximates a pro rata selection as the Trustee deems fair and
appropriate, in each case, unless otherwise required by law or applicable stock exchange or Applicable Procedures; provided that no Notes of a principal amount of $1,000 or less shall be redeemed in part. Notes in denominations of $1,000 or
an integral multiple of $1,000 in excess thereof may be redeemed in part. 

 Except as set forth in the Indenture, if monies for the redemption of the Notes called for
redemption shall have been deposited with the Paying Agent for redemption on such Redemption Date sufficient to pay such Redemption Price plus accrued and unpaid interest, the Notes called for redemption will cease to bear interest from and after
such Redemption Date, and the only remaining right of the Holders of such Notes will be to receive payment of the Redemption Price plus accrued and unpaid interest as of the Redemption Date upon surrender to the Paying Agent of the Notes redeemed.

 (e) Mandatory Redemption. The Company is not required to make any mandatory redemption or sinking fund
payments with respect to the Notes. However, under certain circumstances, the Company may be required to offer to purchase Notes as described under Sections 4.10, 4.11 and 4.12 of the Indenture. The Company and its Affiliates may at any time and
from time to time purchase Notes in the open market, by tender offer, negotiated transactions or otherwise. 
 (6) Offers to
Purchase. Sections 4.10, 4.11 and 4.12 of the Indenture provide that upon the occurrence of a Change of Control, after certain Asset Sales and on a semi-annual basis and subject to further limitations contained therein, the Company will make an
offer to purchase certain amounts of the Notes in accordance with the procedures set forth in the Indenture. 
 (7)
Denominations; Transfer; Exchange. The Notes are in registered form, without coupons, in denominations of $1,000 and integral multiples of $1,000 in excess thereof. A Holder shall register the transfer of or exchange of Notes in accordance
with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes, fees or similar governmental charges payable in connection therewith as permitted by the
Indenture. The Registrar shall not be required to register the transfer or exchange of any Note (i) during a period beginning at the opening of business fifteen (15) days before the mailing of a notice of redemption of Notes and ending at
the close of business on the day of such mailing and (ii) selected for redemption in whole or in part pursuant to Article III of the Indenture, except the unredeemed portion of any Note being redeemed in part. 

(8) Persons Deemed Owners. The registered Holder of a Note shall be treated as the owner of it for all purposes. 

(9) Unclaimed Money. Subject to applicable law, if money for the payment of principal or interest remains unclaimed for two years,
the Trustee and the Paying Agent may pay the money without interest thereon back to the Company. After that, all liability of the Trustee and such Paying Agent with respect to such money shall cease. 

(10) Discharge Prior to Redemption or Maturity. If the Company at any time deposits with the Trustee U.S. Legal Tender or U.S.
Government Obligations sufficient to pay the principal of and interest on the Notes to redemption or stated maturity and complies with the other provisions of the Indenture relating thereto, the Company shall be deemed to have paid and discharged
the entire Indebtedness represented by the outstanding Notes, except for the rights of Holders to receive payments in respect of the principal of, and premium, if any, and interest, on the Notes when such payments are due from the deposits referred
to above. 
 (11) Amendment; Supplement; Waiver. Subject to certain exceptions, the Indenture, the Notes, the Note
Guarantees and the Collateral Documents may be amended or supplemented with the written consent of the Holders of at least a majority in aggregate principal amount of the Notes then outstanding, and any existing Default or Event of Default or
noncompliance with any provision of the Indenture, the Notes, the Note Guarantees or the Collateral Documents may be waived with the written 

 
consent of the Holders of a majority in aggregate principal amount of the Notes then outstanding. Without consent of any Holder, the parties thereto may amend or supplement the Indenture, the
Notes, the Note Guarantees or the Collateral Documents to (i) cure any ambiguity, defect or inconsistency, (ii) provide for uncertificated Notes in addition to or in place of certificated Notes, (iii) provide for the assumption of the
Company’s or a Guarantor’s obligations to Holders of Notes and Note Guarantees in the case of a merger or consolidation or sale of all or substantially all of the Company’s or such Guarantor’s assets, as applicable,
(iv) make any change that would provide any additional rights or benefits to the Holders of Notes or that does not adversely affect the legal rights under the Indenture of any such Holder, (v) comply with requirements of the SEC in order
to effect or maintain the qualification of the Indenture under the Trust Indenture Act, (vi) conform the text of the Indenture, the Note Guarantees, the Notes or the Collateral Documents to any provision of the Description of Notes section of
the Offering Memorandum to the extent that such provision in the Description of Notes section of the Offering Memorandum was intended to be a recitation of a provision thereof, as evidenced by an Officers’ Certificate, (vii) provide for
the issuance of Additional Notes in accordance with the limitations set forth in the Indenture, (viii) evidence and provide for the acceptance and appointment of a successor Trustee under the Indenture pursuant to the requirements thereof,
(ix) allow any Guarantor to execute a supplemental indenture and/or a Note Guarantee with respect to the Notes or to release a Guarantor from its Note Guarantee in accordance with the terms of the Indenture or (x) make, complete or confirm
any grant of Collateral permitted or required by the Indenture or any of the Collateral Documents or any release of Collateral that becomes effective as set forth in the Indenture or in the Collateral Documents. 

(12) Restrictive Covenants. The Indenture imposes certain limitations on the ability of the Company and the Restricted
Subsidiaries to, among other things, incur additional Indebtedness or issue Preferred Stock, grant Liens, make payments in respect of their Capital Stock or certain Indebtedness, enter into transactions with Affiliates, create dividend or other
payment restrictions affecting Subsidiaries, merge or consolidate with any other Person or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its assets. Such limitations are subject to a number of important
qualifications and exceptions. The Company must annually report to the Trustee on compliance with such limitations. 
 (13)
Successors. When a successor assumes, in accordance with the Indenture, all the obligations of its predecessor under the Notes, the Note Guarantees, the Indenture and the Collateral Documents, the predecessor will be released from those
obligations. 
 (14) Defaults and Remedies. If an Event of Default occurs and is continuing, the Trustee or the Holders
of at least 25% in aggregate principal amount of the Notes then outstanding may declare all the Notes to be due and payable in the manner, at the time and with the effect provided in the Indenture. Holders of Notes may not enforce the Indenture
except as provided in the Indenture. The Trustee is not obligated to enforce the Indenture or the Notes at the direction of Holders unless it has received indemnity satisfactory to it. The Indenture permits, subject to certain limitations therein
provided, Holders of a majority in aggregate principal amount of the Notes then outstanding to direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of Notes notice of any continuing Default or Event of
Default (except a Default in payment of principal or interest and except in case of a failure to comply with Article V of the Indenture) if it determines that withholding notice is in their interest. 

(15) Trustee Dealings with Company. Subject to the terms of the TIA and the Indenture, the Trustee under the Indenture, in its individual
or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with the Company, the Subsidiaries or their respective Affiliates as if it were not the Trustee. 

 (16) No Recourse Against Others. No past, present or future director, officer,
employee, incorporator, or equityholder of the Company or a Guarantor, as such, shall have any liability for any obligations of the Company or the Guarantors under the Notes, the Note Guarantees or the Indenture or for any claim based on, in respect
of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. 

(17) Guarantee. Subject to the terms and conditions of Article X of the Indenture, payment of principal and interest (including
interest on overdue principal and overdue interest, if lawful), is unconditionally guaranteed, jointly and severally, by each of the Guarantors. 
 (18) Intercreditor Agreement. Each Holder, by its acceptance of its Note, agrees to be bound by the terms of the Intercreditor Agreement, if any, and all such replacement Intercreditor Agreement,
if any, and each of the Guarantors, if any, and the Holders hereby authorize the Trustee and the Collateral Agent to bind the Holders to the extent provided in the Intercreditor Agreement, if any. Notwithstanding anything herein to the contrary, the
lien and security interest granted to the Collateral Agent pursuant to the Indenture, this Note and the Collateral Documents and the exercise of any right or remedy by the Collateral Agent hereunder and thereunder are subject to the provisions of
the Intercreditor Agreement, if any. In the event of any conflict between the terms of the Intercreditor Agreement, if any, and this Note with respect to lien priority or rights and remedies in connection with any Collateral that also secures the
Senior Credit Facility, the terms of the Intercreditor Agreement shall govern. 
 (19) Authentication. This Note shall
not be valid until the Trustee or Authenticating Agent manually signs the certificate of authentication on this Note. 
 (20)
Governing Law. THIS NOTE, THE NOTE GUARANTEES, THE INDENTURE, AND THE COLLATERAL AGREEMENTS SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED WITHIN THE STATE
OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS NOTE. 

(21) Waiver of Jury Trial. Each of the parties hereto and the Holders (by their acceptance of the Note) hereby irrevocably waives,
to the fullest extent permitted by law, any and all right to trial by jury in any action or proceeding arising out of or in connection with the Indenture, this Note, the Note Guarantees, the Collateral Documents or the transactions contemplated by
the Indenture. 
 (22) Security. The Company’ and Guarantors’ obligations under the Notes are secured by Liens
on the Collateral pursuant to the terms of the Collateral Documents. The actions of the Trustee and the Holders of the Notes secured by such Liens and the application of proceeds from the enforcement of any remedies with respect to such Collateral
are limited pursuant to the terms of the Collateral Documents. 
 (23) Abbreviations and Defined Terms. Customary
abbreviations may be used in the name of a Holder of a Note or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (=
Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

 (24) CUSIP Numbers. Pursuant to a recommendation promulgated by the Committee on
Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders. No representation is made as to the accuracy of
such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon, and any such redemption shall not be affected by any defect in or omission of
such numbers. 
 The Company will furnish to any Holder of a Note upon written request and without charge a copy of the
Indenture. Requests may be made to: Green Field Energy Services, Inc., 4023 Ambassador Caffery Parkway, Suite #200, Lafayette, LA 70503, Attention: Chief Financial Officer. 

 ASSIGNMENT FORM 

If you the Holder want to assign this Note, fill in the form below and have your signature guaranteed: 

I or we assign and transfer this Note to: 
  

	
	 
	
	 

 (Print or type name, address and zip code and social security or tax ID number of assignee) 

 

			
	and irrevocably appoint	  	 

 agent to transfer this Note on the books of the Company. The agent may substitute another to act for him. 

 

											
	Dated:	 	 	 		 	Signed:	 	 
		 		 		 		 	 (Sign exactly as your name appears on the other side of this Note)

		 		 		 		 		 	
		 		 		 		 		 	

 Signature Guarantee:
                                         
                                    

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Company pursuant to Section 4.10, 4.11 or 4.12 of the Indenture, check the
appropriate box: 

Section 4.10 [            ] 

Section 4.11 [            ] 

Section 4.12 [            ] 

If you want to elect to have only part of this Note purchased by the Company pursuant to Section 4.10 , 4.11 or 4.12 of the
Indenture, state the amount you elect to have purchased (in denominations of $1,000 or integral multiples of $1,000 in excess thereof, except if you have elected to have all of your Notes purchased): 

 

							
	$                             
                                         
      	 		 	
				
	Dated:                            
                        	 		 	Signature:	 	 
		 		 	NOTICE:	 	The signature on this assignment must correspond with the name as it appears upon the face of the within Note in every particular without alteration or enlargement or any change
whatsoever and be guaranteed by the endorser’s bank or broker.
			
		 		 	        Social Security or
		 		 	        Tax ID No
:                                    
			
		 		 	Signature
Guarantee:                                       
             

 SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE 

The following exchanges of an interest in this Global Note for an interest in another Global Note or for a Physical Note, or exchanges of an interest in
another Global Note or a Physical Note for an interest in this Global Note, have been made: 
  

									
	 	  	 Amount of
 Decrease in
 Principal Amount
of this Global Note
	  	 Amount of
 Increase in
 Principal Amount

of this Global Note
	  	 Principal Amount of
 this Global Note
 Following Such

Decrease or Increase
	  	 Signature of
 Authorized Officer
 of Trustee or Note

Custodian

	 Date of ExchangeWarrant Agreement dated November 15, 2011

Table of Contents

 Exhibit 4.5 
 Green Field Energy Services, Inc., 
 as Issuer 

and 

Wilmington Trust, National Association, 
 as Warrant Agent 
  

					
		  	  
	  	

 Warrant Agreement 
 Dated as of November 15, 2011 
 Warrants to Purchase 

Shares of Common Stock 
  

					
		  	  
	  	

Table of Contents

 TABLE OF CONTENTS 

 

					
	 	  	PAGE	 
		
	 ARTICLE 1
	  			
	DEFINITIONS	  			
		
	 Section 1.01. Definitions
	  	 	1	  
	 Section 1.02. Rules of Construction
	  	 	5	  
		
	 ARTICLE 2
	  			
	APPOINTMENT OF WARRANT AGENT	  			
		
	 Section 2.01. Appointment Of Warrant Agent
	  	 	5	  
		
	 ARTICLE 3
	  			
	THE WARRANTS	  			
		
	 Section 3.01. Form And Dating; Legends
	  	 	5	  
	 Section 3.02. Execution and Countersignature
	  	 	6	  
	 Section 3.03. Warrant Registrar And Countersignature Agent
	  	 	7	  
	 Section 3.04. Replacement Warrants
	  	 	7	  
	 Section 3.05. Outstanding Warrants
	  	 	7	  
	 Section 3.06. Temporary Warrants
	  	 	8	  
	 Section 3.07. Cancellation
	  	 	8	  
	 Section 3.08. CUSIP Numbers
	  	 	8	  
	 Section 3.09. Registration, Transfer And Exchange
	  	 	8	  
	 Section 3.10. Restrictions On Transfer And Exchange
	  	 	11	  
	 Section 3.11. Uncertificated Warrants.
	  	 	12	  
		
	 ARTICLE 4
	  			
	SEPARATION OF WARRANTS; TERMS OF WARRANTS; EXERCISE
OF WARRANTS	  			
		
	 Section 4.01. Separation Of Warrants; Terms Of Warrants; Exercise Of Warrants
	  	 	13	  
		
	 ARTICLE 5
	  			
	COVENANTS OF THE COMPANY	  			
		
	 Section 5.01. Maintenance Of Office Or Agency
	  	 	15	  
	 Section 5.02. Payment Of Taxes
	  	 	15	  
	 Section 5.03. Reports
	  	 	16	  
	 Section 5.04. Reservation Of Warrant Shares
	  	 	16	  
	 Section 5.05. Obtaining Stock Exchange Listings
	  	 	17	  

Table of Contents

					
	 ARTICLE 6
	  			
	ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF
WARRANT SHARES ISSUABLE	  			
		
	 Section 6.01. Adjustment Of Exercise Price And Number Of Warrant Shares Issuable
	  	 	17	  
	 Section 6.02. Fractional Interests
	  	 	25	  
	 Section 6.03. Notices To Warrant Holders
	  	 	25	  
	 Section 6.04. No Rights As Stockholders
	  	 	26	  
		
	 ARTICLE 7
	  			
	WARRANT AGENT	  			
		
	 Section 7.01. Warrant Agent
	  	 	27	  
	 Section 7.02. Compensation; Indemnity
	  	 	28	  
	 Section 7.03. Individual Rights Of Warrant Agent
	  	 	28	  
	 Section 7.04. Replacement of Warrant Agent
	  	 	29	  
	 Section 7.05. Successor Warrant Agent By Merger
	  	 	30	  
	 Section 7.06. Eligibility
	  	 	30	  
	 Section 7.07. Holder Lists
	  	 	30	  
		
	 ARTICLE 8
	  			
	MISCELLANEOUS	  			
		
	 Section 8.01. Warrantholder Actions
	  	 	30	  
	 Section 8.02. Notices
	  	 	31	  
	 Section 8.03. Supplements And Amendments
	  	 	32	  
	 Section 8.04. Governing Law
	  	 	33	  
	 Section 8.05. No Adverse Interpretation of Other Agreements
	  	 	33	  
	 Section 8.06. Successors
	  	 	33	  
	 Section 8.07. Duplicate Originals
	  	 	33	  
	 Section 8.08. Separability
	  	 	33	  
	 Section 8.09. Table of Contents and Headings
	  	 	34	  
	 Section 8.10. Benefits Of This Agreement
	  	 	34	  

 EXHIBITS 
  

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

Table of Contents

 WARRANT AGREEMENT, dated as of November 15, 2011, between Green Field Energy Services,
Inc., a Delaware corporation (as further defined below, the “Company”), and Wilmington Trust, National Association, as warrant agent (the “Warrant Agent”). 

WHEREAS, the Company proposes to issue warrants (the “Warrants”) to initially purchase up to an aggregate of 247,049
shares of Common Stock, par value $0.01 per share (the “Common Stock”), of the Company (the Common Stock issuable on exercise of the Warrants being referred to herein as the “Warrant Shares”), in connection with the
offering by the Company of Units (the “Units”), each consisting of $1,000 principal amount at maturity of the Company’s 13% Senior Secured Notes due 2016 (the “Notes”) and one Warrant to purchase .0988235
shares of Common Stock. 
 WHEREAS, the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent
is willing so to act in connection with the issuance of the Warrants and other matters as provided herein. 
 NOW, THEREFORE, in
consideration of the premises and the mutual agreements herein set forth, the parties hereto agree as follows: 
 ARTICLE 1

 DEFINITIONS 
 Section 1.01 . Definitions. As used in this Agreement, the following terms shall have the following respective meanings: 

“A.I. Global Warrant” means a Global Warrant that bears the Restricted Legend representing Warrants resold to Accredited
Investors within the meaning of Rule 501 of Regulation D under the Securities Act. 
 “Accredited Investor
Certificate” means a certificate substantially in the form of Exhibit F hereto. 
 “Affiliate” means,
with respect to any Person, any other Person directly or indirectly controlling, controlled by, or under direct or indirect common control with, such Person. For purposes of this definition, “control” (including, with correlative meanings,
the terms “controlling,” “controlled by” and “under common control with”) with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and
policies of such Person, whether through the ownership of voting securities, by contract or otherwise. 

“Agent” means any Registrar or Countersignature Agent. 

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

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

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

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

“Commission” means the Securities and Exchange Commission. 

“Company” means the party named as such in the first paragraph of the Agreement or any successor to the Company under
this Agreement and the Warrants pursuant to Section 6.01(k). 
 “Corporate Trust Office” means the office
of the Warrant Agent at which the corporate trust business of the Warrant Agent is principally administered, which at the Issue Date is located at 246 Goose Lane, Suite 105, Guilford, Connecticut 06437. 

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

 “Daily Price” means, for any determination date, the closing price on such day as reported by the principal
national securities exchange on which the shares are listed and traded. If on any determination date the shares of such class of Common Stock are not quoted by any such organization, the Daily Price per share of Common Stock shall be the Fair Value
of such share on such determination date as determined pursuant to Section 6.01(g). 
 “Depositary” means
the depositary of each Global Warrant, which will initially be DTC. 
 “Disinterested Director” means, in
connection with any issuance of securities that gives rise to a determination of the Fair Value thereof, each member of the Board of Directors who is not an officer, employee, director or other Affiliate of the party to whom the Company is proposing
to issue the securities giving rise to such determination. 
 “DTC” means The Depository Trust Company, a New
York corporation, and its successors. 
 “DTC Legend” means the legend set forth in Exhibit C. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended. 

  
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 “Exercise Price” has the meaning assigned to such term in
Section 4.01. 
 “Expiration Date” has the meaning assigned to such term in Section 4.01. 

“Fair Value” has the meaning set forth in Section 6.01. 

“GAAP” means generally accepted accounting principles in the United States, including those set forth in the opinions
and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants, the opinions and pronouncements of the Public Company Accounting Oversight Board and in the statements and pronouncements of the
Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, as in effect from time to time. 

“Global Warrant” means a Warrant in registered global form. 

“Holder” or “Warrantholder” means the registered holder of any Warrant. 

“Indenture” means the indenture, dated the date hereof, between the Company, the guarantors named therein and Wilmington
Trust, National Association, as trustee relating to the Notes. 
 “Initial Purchaser” means
Jefferies & Company, Inc., as initial purchaser of the Units. 
 “Issue Date” means the date on which
the Warrants are originally issued under this Agreement. 
 “Legal Holiday” means a Saturday, a Sunday or a day
on which banking institutions in The City of New York or at a place of payment are authorized or required by law, regulation or executive order to remain closed. 
 “Non-U.S. Person” means a Person that is not a U.S. person, as defined in Regulation S. 
 “Officer” means with respect to any Person, the Chairman of the Board of Directors, the Chief Executive Officer, the President, the Chief Operating Officer, the Chief Financial Officer,
the Treasurer, any Assistant Treasurer, the Controller, the Secretary, any Assistant Secretary or any Vice-President of such Person. 
 “Officers’ Certificate” means a certificate signed in the name of the Company (i) by the chairman of the Board of Directors, the president or chief executive officer or a vice
president and (ii) by the chief financial officer, the treasurer or any assistant treasurer or the secretary or any assistant secretary. 
 “Opinion of Counsel” means a written opinion from legal counsel who is reasonably acceptable to the Warrant Agent (who may be counsel to or any employee of the Company). 

  
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 “Person” means any individual, corporation, partnership, joint venture,
association, joint-stock company, trust, unincorporated organization, limited liability company or government or other entity. 

“Register” has the meaning assigned to such term in Section 3.09. 

“Registrar” means a Person engaged to maintain the Register. 

“Regulation S” means Regulation S under the Securities Act. 

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

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

“Rule 144A” means Rule 144A under the Securities Act. 

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

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

“Separation Date” means the earliest of (i) 180 days after the Issue Date, (ii) the date on which a
registration statement with respect to a registered exchange offer for the Notes is declared effective under the Securities Act, (iii) the date on which a resale registration statement with respect to the Warrant Shares is declared effective
under the Securities Act, and (iiv) such date as the Initial Purchaser in its sole discretion shall determine. 

“Transfer Agent” has the meaning assigned to such term in Section 5.04. 

“Trustee” means the trustee under the Indenture. 

“Unit Legend” means the legend set forth in Exhibit G. 

“U.S. Global Warrant” means a Global Warrant that bears the Restricted Legend representing Warrants issued and sold
pursuant to Rule 144A. 
 “Warrant Agent” means the party named as such in the first paragraph of this
Agreement or any successor warrant agent under this Agreement pursuant to Article 7. 
 “Warrants” has the
meaning assigned to such term in the Recitals. 

  
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 Section 1.02 . Rules of Construction. Unless the context otherwise requires or
except as otherwise expressly provided, 
 (i) an accounting term not otherwise defined has the meaning assigned
to it in accordance with GAAP; 
 (ii) “herein,” “hereof” and other words of similar import
refer to this Agreement as a whole and not to any particular Section, Article or other subdivision; 
 (iii) all
references to Sections or Articles or Exhibits refer to Sections or Articles or Exhibits of or to this Agreement unless otherwise indicated; and 
 (iv) references to agreements or instruments, or to statutes or regulations, are to such agreements or instruments, or statutes or regulations, as amended from time to time (or to successor statutes and
regulations). 
 ARTICLE 2 
 APPOINTMENT OF WARRANT AGENT 
 Section 2.01 . Appointment Of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the instructions set forth hereinafter in this
Agreement and the Warrant Agent hereby accepts such appointment. 
 ARTICLE 3 

THE WARRANTS 
 Section 3.01 . Form And Dating; Legends. (a) The Warrants will be substantially in the form attached as Exhibit A. The terms and provisions contained in the form of the Warrants annexed
as Exhibit A constitute, and are hereby expressly made, a part of this Agreement. The Warrants may have notations, legends or endorsements required by law, rules of or agreements with national securities exchanges to which the Company is subject, or
usage. Each Warrant will be dated the date of its countersignature. 
 (b)   (i) Except as otherwise provided in
paragraph (c), Section 3.10(c), or Section 3.09(b)(iv), each Warrant will bear the Restricted Legend. 

(ii) Each Global Warrant will bear the DTC Legend. 

(iii) Warrants offered and sold in reliance on any exception under the Securities Act other than Rule 144A will be
issued, and upon the request of the Company to the Warrant Agent, Warrants offered and sold in reliance on Rule 144A may be issued, in the form of Certificated Warrants. Warrants resold to Accredited Investors within the meaning of Regulation D
under the Securities Act shall be issued in the form of A.I. Global Warrants. 

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

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

 the Company may instruct the Warrant Agent in writing to cancel the Warrant and issue to the Holder thereof (or to its transferee) a new
Warrant of like tenor, registered in the name of the Holder thereof (or its transferee), that does not bear the Restricted Legend, and the Warrant Agent will comply with such instruction. 

(d) By its acceptance of any Warrant bearing the Restricted Legend (or any beneficial interest in such a Warrant), each Holder thereof
and each owner of a beneficial interest therein acknowledges the restrictions on transfer of such Warrant (and any such beneficial interest) set forth in this Agreement and in the Restricted Legend and agrees that it will transfer such Warrant (and
any such beneficial interest) only in accordance with this Agreement and such legend. 
 Section 3.02 . Execution and
Countersignature. (a) An Officer shall execute the Warrants for the Company by facsimile or manual signature in the name and on behalf of the Company. If an Officer whose signature is on a Warrant no longer holds that office at the time the
Warrant is countersigned, the Warrant will still be valid. 
 (b) A Warrant will not be valid until the Warrant Agent manually
countersigns the Warrant, with the signature conclusive evidence that the Warrant has been countersigned under this Agreement. At any time and from time to time after the execution and delivery of this Agreement, the Company may deliver Warrants
executed by the Company to the Warrant Agent for countersignature. The Warrant Agent will countersign and deliver a number of Warrants for original issue convertible into an aggregate number of Warrant Shares not to exceed the amount stated in the
preamble hereto (except as may be adjusted pursuant to Article 6 hereof) after receipt by the Warrant Agent of an Officers’ Certificate specifying 
 (i) the number of Warrants to be countersigned and the date on which the Warrants are to be countersigned, 
 (ii) whether the Warrants are to be issued as one or more Global Warrant or Certificated Warrants, and 
 (iii) other information the Company may determine to include or the Warrant Agent may reasonably request. 

  
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 Section 3.03 . Warrant Registrar And Countersignature Agent. The Company may
appoint one or more Registrars, and the Warrant Agent may appoint a Countersignature Agent, in which case each reference in this Agreement to the Warrant Agent in respect of the obligations of the Warrant Agent to be performed by that Agent will be
deemed to be references to the Agent. The Company may act as Registrar. In each case the Company and the Warrant Agent will enter into an appropriate agreement with the Agent implementing the provisions of this Agreement relating to the obligations
of the Warrant Agent to be performed by the Agent and the related rights. The Company initially appoints the Warrant Agent as Registrar. 
 Section 3.04 . Replacement Warrants. If a mutilated Warrant is surrendered to the Warrant Agent or if a Holder claims that its Warrant has been lost, destroyed or wrongfully taken, the
Company will issue and the Warrant Agent will countersign a replacement Warrant. Every replacement Warrant is an additional obligation of the Company and entitled to the benefits of this Agreement. If required by the Warrant Agent or the Company, an
indemnity must be furnished by the Holder that is sufficient in the judgment of (i) the Warrant Agent to protect the Warrant Agent and (ii) the Company to protect the Company and the Warrant Agent from any loss they may suffer if a Warrant
is replaced. The Company may charge the Holder for the expenses of the Company and the Warrant Agent in replacing a Warrant. 

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

 (ii) Warrants exercised by the Holder thereof; and 

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

(b) A Warrant does not cease to be outstanding because the Company or one of its Affiliates holds the Warrant, provided that in
determining whether the Holders of the requisite principal amount of the outstanding Warrants have given or taken any request, demand, authorization, direction, notice, consent, waiver or other action hereunder, Warrants owned by the Company or any
Affiliate of the Company will be disregarded and deemed not to be outstanding (it being understood that in determining whether the Warrant Agent is protected in relying upon any such request, demand, authorization, direction, notice, consent, waiver
or other action, only Warrants which the Warrant Agent knows to be so owned will be so disregarded). Warrants so owned which have been pledged in good faith may be regarded as outstanding if the pledgee establishes to the satisfaction of the Warrant
Agent the pledgee’s right so to act with respect to such Warrants and that the pledgee is not the Company or any Affiliate of the Company. 

  
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 Section 3.06 . Temporary Warrants. Until definitive Warrants are ready for
delivery, the Company may prepare and the Warrant Agent will countersign temporary Warrants. Temporary Warrants will be substantially in the form of definitive Warrants but may have insertions, substitutions, omissions and other variations
determined to be appropriate by the Officer executing the temporary Warrants, as evidenced by the execution of the temporary Warrants. If temporary Warrants are issued, the Company will cause definitive Warrants to be prepared without unreasonable
delay. After the preparation of definitive Warrants, the temporary Warrants will be exchangeable for definitive Warrants upon surrender of the temporary Warrants without charge to the Holder. Upon surrender for cancellation of any temporary
Warrants, the Company will execute and the Warrant Agent will countersign and deliver in exchange therefor a like amount of definitive Warrants. Until so exchanged, the temporary Warrants will be entitled to the same benefits under this Agreement as
definitive Warrants. 
 Section 3.07 . Cancellation. The Company at any time may deliver to the Warrant Agent for
cancellation any Warrants previously countersigned and delivered hereunder which the Company may have acquired in any manner whatsoever, and may deliver to the Warrant Agent for cancellation any Warrants previously countersigned hereunder which the
Company has not issued and sold. Any Registrar will forward to the Warrant Agent any Warrants surrendered to it for transfer, exchange or exercise. The Warrant Agent will cancel all Warrants surrendered for transfer, exchange, exercise or
cancellation and dispose of them in accordance with its normal procedures. Certification of the cancellation of all cancelled Warrants shall be delivered to the Company upon written request. The Company may not issue new Warrants to replace Warrants
that have been exercised or delivered to the Warrant Agent for cancellation. 
 Section 3.08 . CUSIP Numbers. The
Company in issuing the Warrants may use “CUSIP” numbers, and the Warrant Agent will use CUSIP numbers in notices as a convenience to Holders, the notice to state that no representation is made as to the correctness of such numbers either
as printed on the Warrants or as contained in any notice to any Holder. The Company will promptly notify the Warrant Agent in writing of any change in the CUSIP numbers. 
 Section 3.09 . Registration, Transfer And Exchange. (a) The Warrants will be issued in registered form only, and the Company shall cause the Warrant Agent to maintain a register (the
“Register”) of the Warrants, for registering the record ownership of the Warrants by the Holders and transfers and exchanges of the Warrants. 
 (b) (i) Each Global Warrant will be registered in the name of the Depositary or its nominee and, so long as DTC is serving as the Depositary thereof, will bear the DTC Legend. 

(ii) Each Global Warrant will be delivered to the Warrant Agent as custodian for the Depositary. Transfers of a Global
Warrant (but not a beneficial interest therein) will be limited to transfers thereof in whole, but not in part, to the Depositary, its successors or their respective nominees, except (1) as set forth in Section 3.09(b)(iv) and
(2) transfers of portions thereof in the form of Certificated Warrants may be made upon request of an Agent Member (for itself or on behalf of a beneficial owner) by written notice given to the Warrant Agent by or on behalf of the Depositary in
accordance with customary procedures of the Depositary and in compliance with this Section and Section 3.10. 

  
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 (iii) Agent Members will have no rights under this Agreement with respect to
any Global Warrant held on their behalf by the Depositary, and the Depositary may be treated by the Company, the Warrant Agent and any agent of the Company or the Warrant Agent as the absolute owner and Holder of such Global Warrant for all purposes
whatsoever. Notwithstanding the foregoing, the Depositary or its nominee may grant proxies and otherwise authorize any Person (including any Agent Member and any Person that holds a beneficial interest in a Global Warrant through an Agent Member) to
take any action which a Holder is entitled to take under the Warrant or the Warrants, and nothing herein will impair, as between the Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of a
holder of any security. 
 (iv) If (1) the Depositary (a) notifies the Company that it is unwilling or
unable to continue as Depositary for a Global Warrant or (y) has ceased to be a clearing agency registered under the Exchange Act, and in each case a successor depositary is not appointed by the Company within 90 days of the notice; or
(2) the Company, at its option, notifies the Warrant Agent in writing that it elects to cause the issuance of Certificated Warrants, the Warrant Agent will promptly exchange each beneficial interest in the Global Warrant for one or more
Certificated Warrants in authorized denominations having an equal aggregate principal amount registered in the name of the owner of such beneficial interest, as identified to the Warrant Agent by the Depositary, and thereupon the Global Warrant will
be deemed canceled. If such Global Warrant does not bear the Restricted Legend, then the Certificated Warrants issued in exchange therefor will not bear the Restricted Legend. Except as otherwise provided in Section 3.01(c)(i) and (ii), if such
Global Warrant bears the Restricted Legend, then the Certificated Warrants issued in exchange therefor will bear the Restricted Legend. 
 (c) Each Certificated Warrant will be registered in the name of the holder thereof or its nominee. 
 (d) Prior to the Separation Date, when a Note issued under the Indenture is transferred, the Warrant associated with such Note shall be automatically transferred to the same party and during such period
each time a notation of a transfer of a Note is made on the register for the Notes maintained under the Indenture, a corresponding notation shall be made in the Register. On and after the Separation Date, a Holder may transfer a Warrant (or a
beneficial interest therein) to another Person or exchange a Warrant (or a beneficial interest therein) for another Warrant by presenting to the Warrant Agent a written request therefor stating the name of the proposed transferee or requesting such
an exchange, accompanied by any certification, opinion or other document required by this Agreement. The Warrant Agent will promptly register any transfer or exchange that meets the requirements of this Section by noting the same in the Register
maintained by the Warrant Agent for the purpose; provided that no transfer or exchange will be effective until it is registered in the Register. Prior to the registration of any transfer, the Company, the Warrant Agent and their agents will
treat the Person in whose name the Warrant is registered as the owner and Holder thereof for all purposes, and will not be affected by notice to the contrary. 

  
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 Neither the Company nor any agent of the Company shall have any responsibility or liability
for any aspect of the records on account of beneficial ownership interests of a Global Warrant, or for maintaining, supervising or reviewing any records relating to such beneficial ownership interests. 

From time to time the Company will execute and the Warrant Agent will countersign additional Warrants as necessary in order to permit the
registration of a transfer or exchange in accordance with this Section. All Warrants issued upon transfer or exchange shall be the duly authorized, executed and delivered Warrants of the Company entitled to the benefits of this Agreement.

 No service charge will be imposed in connection with any transfer or exchange of any Warrant, but the Company may require
payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than a transfer tax or other similar governmental charge payable upon exchange pursuant to Section 3.09(b)(iv)).

 (e) (i) Global Warrant to Global Warrant. Subject to compliance with Section 3.10(b), if a beneficial interest in
a Global Warrant is transferred or exchanged for a beneficial interest in another Global Warrant, the Warrant Agent will (x) record a decrease in the amount of the Global Warrant being transferred or exchanged equal to the amount of such
transfer or exchange and (y) record a like increase in the amount of such other Global Warrant. Any beneficial interest in one Global Warrant that is transferred to a Person who takes delivery in the form of an interest in another Global
Warrant, or exchanged for an interest in another Global Warrant, will, upon transfer or exchange, cease to be an interest in such Global Warrant and become an interest in the other Global Warrant and, accordingly, will thereafter be subject to all
transfer and exchange restrictions, if any, and other procedures applicable to beneficial interests in such other Global Warrant for as long as it remains such an interest. 

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

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

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

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

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

 (i) No certification is required. 

  
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 (ii) The Person requesting the transfer or exchange must deliver or cause to
be delivered to the Warrant Agent a duly completed Rule 144A Certificate 
 (iii) The Person requesting the
transfer or exchange must deliver or cause to be delivered to the Warrant Agent a duly completed Regulation S Certificate 
 (iv) The Person requesting the transfer or exchange must deliver or cause to be delivered to the Warrant Agent a duly completed Accredited Investor Certificate, and/or an Opinion of Counsel and such other
certifications and evidence as the Company may reasonably require in order to determine that the proposed transfer or exchange is being made in compliance with the Securities Act and any applicable securities laws of any state of the United States.

 (c) No certification is required in connection with any transfer or exchange of any Warrant (or a beneficial interest
therein) 
 (i) after such Warrant is eligible for resale pursuant to Rule 144 under the Securities Act (or a
successor provision) without the need to satisfy current information or other requirements therein; provided that the Company has provided the Warrant Agent with an Officers’ Certificate to that effect, and the Company may require from
any Person requesting a transfer or exchange in reliance upon this clause (i) an opinion of counsel and any other reasonable certifications and evidence in order to support such certificate; or 

(ii) sold pursuant to an effective registration statement. 

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

(d) The Warrant Agent will retain copies of all certificates, opinions and other documents received in connection with the transfer or
exchange of a Warrant (or a beneficial interest therein), and the Company will have the right to inspect and make copies thereof at any reasonable time upon written notice to the Warrant Agent. 

Section 3.11 . Uncertificated Warrants. Notwithstanding anything herein to the contrary, any Warrant issued hereunder,
except a Warrant issued pursuant to Regulation S, may be issued in uncertificated or book-entry form through the Warrant Agent and/or the facilities of DTC or other book-entry depositary system, in each case as determined by the Board of Directors
of the Company or by an authorized committee thereof. Any Warrant so issued shall have the same terms, force and effect as a certificated Warrant that has been duly countersigned by the Warrant Agent in accordance with the terms of this Agreement.

  
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 ARTICLE 4 
 SEPARATION OF WARRANTS; TERMS OF WARRANTS; EXERCISE OF WARRANTS

 Section 4.01 . Separation Of Warrants; Terms Of Warrants; Exercise Of Warrants. (a) The Notes and Warrants
will not be separately transferable until the Separation Date. The Company shall provide written notice to the Warrant Agent upon the occurrence of the Separation Date. The Warrant Agent shall not be deemed to have any knowledge of the occurrence of
such Separation Date until it receives such notice from the Company. On the Separation Date, the Unit Legend shall be deemed removed from the Warrant, or face of Unit, and, whether or not such Unit Legend is actually removed, each Warrant shall be
deemed automatically separated from the associated Note and may be transferred separately from such Note. Each Warrant not exercised prior to 5:00 p.m., New York City time, on November 15, 2021 (the “Expiration Date”) shall
become void and all rights thereunder and all rights in respect thereof under this agreement shall cease as of such time. 
 (b)
Subject to the terms of this Agreement, the Warrants shall be exercisable, at the election of the Holders thereof, either in full or from time to time in part during the period commencing at the opening of business on the Separation Date and until
5:00 p.m., New York City time, on the Expiration Date, and shall entitle any Holder thereof to receive from the Company the number of fully paid and nonassessable Warrant Shares which the Holder may at the time be entitled to receive on exercise of
such Warrants and payment of the exercise price set forth in the form of Warrant attached as Exhibit A hereto (as adjusted from time to time hereunder, the “Exercise Price”) in cash, by wire transfer or by certified or official
check payable to the order of the Company, in each case, equal to the Exercise Price then in effect for such Warrant Shares; provided that Holders shall be able to exercise their Warrants only if the exercise of such Warrants is exempt from,
or in compliance with, the registration requirements of the Securities Act and such securities are qualified for sale or exempt from qualification under the applicable securities laws of the states in which the various holders of the Warrants or
other persons to whom it is proposed that the Warrant Shares be issued on exercise of the Warrants reside. No adjustments as to dividends will be made upon exercise of the Warrants. 

(c) Notwithstanding anything herein to the contrary, (but in all other respects in accordance with the exercise procedure set forth
herein), a Holder may elect to convert Warrants into shares of Common Stock, in which event the Company will issue to the Holder the number of shares of Common Stock equal to the result obtained by (i) subtracting B from A, (ii) dividing
the result by A, and (iii) multiplying the quotient by C as set forth in the following equation: 
  
 

 
 where: 
 X = the number of shares of Common Stock issuable upon exercise pursuant to this paragraph (c). 

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

 If the foregoing calculation results in a negative number, then no shares of Common Stock shall be issued
upon exercise pursuant to this paragraph. 
 (d) In order to exercise all or any of the Warrants, the Holder thereof must
deliver to the Warrant Agent at its Corporate Trust Office (i) such Warrants, (ii) the form of election to purchase on the reverse thereof duly filled in and signed, which signature shall be medallion guaranteed by an institution which is
a member of a Securities Transfer Association recognized signature guarantee program, and (iii) payment to the Warrant Agent for the account of the Company of the then-current Exercise Price (in the manner set forth in paragraphs (b) or
(c) above) for the number of Warrant Shares in respect of which the Warrants are being exercised. 
 (e) Upon compliance
with the provisions set forth above, the Warrant Agent shall deliver such information and payment amount, if any, to the Company for verification and shall request in writing from the Company and the Company shall upon such verification deliver or
cause to be delivered with all reasonable dispatch, to or upon the written order of the Holder and in such name or names as the Holder may designate, a certificate or certificates for the number of whole Warrant Shares issuable upon the exercise of
such Warrants or other securities or property to which such Holder is entitled, together with cash in lieu of fractional shares as provided in Section 6.02 hereof. Such certificate or certificates or other securities or property shall be deemed
to have been issued, and any person so designated to be named therein shall be deemed to have become a holder of record of such Warrant Shares or other securities or property, as of the date of the surrender of such Warrants and payment of the
Exercise Price, notwithstanding that the stock transfer books of the Company shall then be closed or the certificates or other securities or property have not been delivered. 
 (f) If less than all the Warrants represented by a Warrant certificate are exercised, such Warrant certificate shall be surrendered and a new Warrant certificate of the same tenor and for the number of
Warrants which were not exercised shall be executed by the Company and delivered to the Warrant Agent and the Warrant Agent shall countersign the new Warrant certificate, registered in such name or names as may be directed in writing by the Holder,
and shall deliver the new Warrant certificate to the Person or Persons entitled to receive the same. 
 (g) All Warrant
certificates surrendered upon exercise of Warrants shall be cancelled by the Warrant Agent. Such cancelled Warrant certificates shall then be cancelled and disposed of by the Warrant Agent in accordance with its standard procedures. The Warrant
Agent shall account promptly to the Company with respect to Warrants exercised and concurrently pay to the Company all monies received by the Warrant Agent for the purchase of the Warrant Shares through the exercise of such Warrants. 

  
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 (h) The Warrant Agent shall keep copies of this Agreement and any notices given or received
hereunder available for inspection by the Holders during normal business hours at its office. The Company shall supply the Warrant Agent from time to time with such numbers of copies of this Agreement as the Warrant Agent may request. 

(i) Certificates representing Warrant Shares shall bear a Restricted Legend (with all references to Warrants therein replaced by
references to Common Stock, and with such changes thereto as the Company may deem appropriate) if (i) the Warrants for which they were issued carried a Restricted Legend or (ii) the Warrant Shares are issued in a transaction exempt from
registration under the Securities Act (other than the exemption provided by Section 3(a)(9) of the Securities Act), in each case until and unless the circumstances set forth in Section 3.01(c) apply to such Shares, and any transfers
thereof shall comply with the Restricted Legend. 
 (j) Notwithstanding Sections 3.09(d) and 4.01(a), the Separation Date shall
in the case of any Global Warrant be subject to timing requirements imposed by the applicable rules and procedures of the Depositary in effecting a separation pursuant to clause (iv) of the definition of Separation Date. The Company shall use
commercially reasonable efforts to comply with the applicable rules and procedures of the Depositary in order to effect a separation of the Global Warrants and Global Notes on the Separation Date or as shortly thereafter as is practicable.

 ARTICLE 5 
 COVENANTS OF THE COMPANY 
 Section 5.01 . Maintenance Of Office Or Agency. The Company will maintain in the United States an office or agency where Warrants may be surrendered for registration of transfer or exchange
or for presentation for exercise. The Company hereby initially designates the Corporate Trust Office of the Warrant Agent as such office of the Company. The Company will give prompt written notice to the Warrant Agent of the location, and any change
in the location, of such office or agency. If at any time the Company fails to maintain any such required office or agency or fails to furnish the Warrant Agent with the address thereof, such presentations, surrenders, notices and demands may be
made or served to the Warrant Agent. 
 The Company may also from time to time designate one or more other offices or agencies
where the Warrants may be surrendered or presented for any of such purposes and may from time to time rescind such designations. The Company will give prompt written notice to the Warrant Agent of any such designation or rescission and of any change
in the location of any such other office or agency. 
 Section 5.02 . Payment Of Taxes. The Company will pay all
documentary, stamp or similar issue or transfer taxes in respect of the issuance or delivery of Warrant Shares upon the exercise of Warrants; provided that the Company shall not be required to pay any tax or taxes which may be payable in
respect of any transfer involved in the issue of any Warrants or any Warrant Shares in a name other than that of the registered holder of a Warrant surrendered upon exercise (other than a transfer tax or other similar governmental charge payable
upon exchange pursuant to Section 3.09(b)(iv)), and the Company shall not be required to issue or deliver such Warrant unless or until the person or persons requesting the issuance thereof shall have paid to the Company the amount of such tax
or shall have established to the satisfaction of the Company that such tax has been paid. 

  
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 Section 5.03 . Reports. (a) Whether or not the Company is subject to the
reporting requirements of the rules and regulations of the Commission, the Company must provide the Warrant Agent and Holders (or file with the Commission for public availability) within the time periods specified in the Commission’s rules and
regulations: 
 (i) all quarterly and annual reports that would be required to be filed with the Commission on
Forms 10-Q and 10-K if the Company were required to file such reports; and 
 (ii) all current reports that
would be required to be filed with the Commission on Form 8-K if the Company were required to file such reports; 
 provided
that the quarterly report with respect to the Company’s fiscal quarter ended September 30, 2011, shall not be required to be furnished until December 15, 2011. 

In addition, whether or not required by the Commission, the Company will, if the Commission will accept the filing, file a copy of all of
the information and reports referred to in clauses (i) and (ii) with the Commission for public availability within the time periods specified in the Commission’s rules and regulations. In addition, the Company will make the
information and reports available to securities analysts and prospective investors upon request. 
 For so long as any of the
Warrants or Warrant Shares remain outstanding and constitute “restricted securities” under Rule 144, the Company will make available upon request to any prospective purchaser of the Warrants or Warrant Shares or beneficial owner of
Warrants or Warrants Shares in connection with any sale thereof the information required by Rule 144A(d)(4) under the Securities Act. 
 Section 5.04 . Reservation Of Warrant Shares. (a) The Company will at all times reserve and keep available for issuance and delivery, free and clear of all liens, security interests, charges
and other encumbrances or restrictions on sale and free and clear of all preemptive rights, such number of its authorized but unissued Common Stock or other securities of the Company from time to time issuable upon exercise of the Warrants as will
be sufficient to permit the exercise in full of all outstanding Warrants. 
 (b) The Company or, if appointed, the transfer
agent for the Common Stock (the “Transfer Agent”) and every subsequent transfer agent for any securities of the Company issuable upon the exercise of the Warrants will be irrevocably authorized and directed at all times to reserve
such number of authorized securities as shall be required for such purpose. The Company will keep a copy of this Agreement on file with the Transfer Agent and with every subsequent transfer agent for any of the Company’s securities issuable
upon the exercise of the Warrants. The Company will supply such Transfer Agent with duly executed certificates for such purposes and will provide or otherwise make available any cash which may be payable as provided in Section 6.02 hereof. The
Company will furnish such Transfer Agent a copy of all notices of adjustments, and certificates related thereto, transmitted to each holder pursuant to Section 6.03 hereof. 

  
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 (c) The Company covenants that all Warrant Shares which may be issued upon exercise of
Warrants in accordance with their terms will, upon issue, be fully paid, nonassessable, free of preemptive rights and free from all taxes, liens, charges and security interests with respect to the issuance thereof. 

Section 5.05 . Obtaining Stock Exchange Listings. The Company will from time to time take all action which may be necessary
so that the Warrant Shares, immediately upon their issuance upon the exercise of Warrants, will be listed on the principal securities exchanges, automated quotation systems or other markets within the United States of America on which other shares
of Common Stock are then listed, if any. 
 ARTICLE 6 
 ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES
ISSUABLE 
 Section 6.01 . Adjustment Of Exercise Price And Number Of Warrant Shares Issuable. The
Exercise Price and the number of Warrant Shares issuable upon the exercise of each Warrant are subject to adjustment from time to time upon the occurrence of the events enumerated in this Section 6.01. For purposes of this Section 6.01,
“Common Stock” means shares now or hereafter authorized of any class of common stock of the Company and any other stock of the Company, however designated, that has the right (subject to any prior rights of any class or series of
preferred stock) to participate in any distribution of the assets or earnings of the Company without limit as to per share amount. 
 In the event that, at any time as a result of the provisions of this Section, the Holders of the Warrants shall become entitled upon subsequent exercise to receive any shares of capital stock of the
Company other than Common Stock, the number of such other shares so receivable upon exercise of this Warrant shall thereafter be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions
contained herein. 
 (a) Adjustment for Change in Capital Stock. 

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

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

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

  
 

 
 where: 
 E’ = the adjusted Exercise Price. 
 E = the then current
Exercise Price. 
 O = the number of shares of Common Stock outstanding on the record date. 

N = the number of additional shares of Common Stock issuable pursuant to such rights, options or warrants. 

P = the aggregate price per share of the additional shares. 

M = the Fair Value per share of Common Stock on the record date. 

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

(c) Adjustment for Other Distributions. 

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

 
 where: 
  

			
	E’ =	  	the adjusted Exercise Price.
		
	E =	  	the then current Exercise Price.
		
	M =	  	the Fair Value per share of Common Stock on the record date mentioned below.
		
	F =	  	the fair market value on the record date of the assets, securities, rights or warrants to be distributed in respect of one share of Common Stock as determined in good faith by
the Board of Directors.

 The adjustment shall be made successively whenever any such distribution is made and shall become
effective immediately after the record date for the determination of stockholders entitled to receive the distribution. 
 This
Section 6.01(c) does not apply to rights, options or warrants referred to in Section 6.01(b) hereof. 
 (d)
Adjustment for Common Stock Issue. 
 If the Company issues shares of Common Stock for a consideration per share less
than the Fair Value per share on the date the Company fixes the offering price of such additional shares, the Exercise Price shall be adjusted in accordance with the formula: 

 
 

 
 where: 
  

			
	E’ =	  	the adjusted Exercise Price.
		
	E =	  	the then current Exercise Price.
		
	O =	  	the number of shares outstanding immediately prior to the issuance of such additional shares.

  
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	P =	  	the aggregate consideration received for the issuance of such additional shares.
		
	M =	  	the Fair Value per share on the date of issuance of such additional shares.
		
	A =	  	the number of shares outstanding immediately after the issuance of such additional shares.

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

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

(ii) the exercise of Warrants, or the conversion or exchange of other securities convertible or exchangeable for Common
Stock, which are the subject of Section 6.01(e), 
 (iii) shares of Common Stock issued in a merger of the
Company with a Person who is not an Affiliate of the Company; and 
 (iv) shares of Common Stock issued pursuant
to, or upon the exercise of awards granted pursuant to, employee benefit plans of the Company in an aggregate amount not to exceed, together with Common Stock issuable pursuant to Section 6.01(e)(iii), 10% of the outstanding shares of Common
Stock of the Company on the date of this Agreement on a fully-diluted basis after giving effect to the issuance of the Warrants, subject to any applicable anti-dilution adjustment. 

(e) Adjustment for Convertible Securities Issue. 
 If the Company issues any securities convertible into or exchangeable for Common Stock (other than (x) securities issued in transactions described in subsections (b) or (c) or (y) the
Warrants) for a consideration per share of Common Stock received for such securities that is less than the Fair Value per share on the date the Company fixes the offering price of such securities, the Exercise Price shall be adjusted in accordance
with this formula: 
  
 

 
 where: 
  

			
	E’ =	  	the adjusted Exercise Price.
		
	E =	  	the then current Exercise Price.

  
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	O =	  	the number of shares outstanding immediately prior to the issuance of such securities.
		
	P =	  	the aggregate consideration received for such securities.
		
	M =	  	the Fair Value per share on the date of issuance of such securities.
		
	D =	  	the maximum number of shares deliverable upon conversion or in exchange for such securities at the initial conversion or exchange rate.

 The adjustment shall be made successively whenever any such issuance is made, and shall become effective
immediately after such issuance. 
 If all of the Common Stock deliverable upon conversion or exchange of such securities have
not been issued when such securities are no longer outstanding, then the Exercise Price shall promptly be readjusted to the Exercise Price which would then be in effect had the adjustment upon the issuance of such securities been made on the basis
of the actual number of shares of Common Stock issued upon conversion or exchange of such securities. 
 This
subsection (e) does not apply to 
 (i) convertible or exchangeable securities issued in a merger of the
Company with a Person who is not an Affiliate of the Company; 
 (ii) convertible or exchangeable securities
issued as consideration in a merger of the Company with any of its Affiliates, if the Company obtains an opinion from a nationally recognized investment banking, appraisal or valuation firm stating that the consideration received in such merger is
fair to the Company; 
 (iii) securities issued pursuant to employee benefit plans of the Company convertible
into an aggregate number of shares of Common Stock not to exceed (together with shares issued pursuant to clause (d)(iv) above under employee benefit plans of the Company) 10% of the outstanding shares of Common Stock of the Company on the date of
this Agreement on a fully-diluted basis after giving effect to the issuance of the Warrants, subject to any applicable anti-dilution adjustment. 
 (f) Consideration Received. 
 For purposes of any computation respecting
consideration received pursuant to subsections (d) and (e) of this Section 6.01, the following shall apply: 
 (i) in the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made for any commissions,
discounts or other expenses incurred by the Company for any underwriting of the issue or otherwise in connection therewith; 

  
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 (ii) in the case of the issuance of shares of Common Stock for a
consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be the fair market value thereof as determined in good faith by the Board of Directors and described in a Board Resolution (and, if such issuance
is to an Affiliate of the Company, approved by a majority of the Disinterested Directors or confirmed by a written opinion of a nationally recognized investment banking, appraisal of valuation firm that is not an Affiliate of the Company);

 (iii) in the case of the issuance of securities convertible into or exchangeable for shares of Common Stock,
the aggregate consideration received therefor shall be deemed to be the consideration received by the Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Company upon the conversion or
exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses (i) and (ii) of this subsection); and 
 (iv) in the case of the issuance of shares of Common Stock pursuant to rights, options or warrants which rights, options or warrants were originally issued together with one or more other securities as
part of a unit at a price per unit, the consideration shall be deemed to be the fair value of such rights, options or warrants at the time of issuance thereof as determined in good faith by the Board of Directors in accordance with GAAP whose
determination shall be described in a Board Resolution (and, if such issuance is to an Affiliate of the Company, approved by a majority of the Disinterested Directors or confirmed by a written opinion of a nationally recognized investment banking,
appraisal of valuation firm that is not an Affiliate of the Company) plus the additional minimum consideration, if any, to be received by the Company upon the exercise, conversion or exchange thereof (as determined in the same manner as
provided in clauses (i) and (ii) of this subsection). 
 (g) Fair Value. The “Fair Value” per
security at any date of determination shall be (x) in connection with a sale to a party that is not an Affiliate of the Company in an arm’s-length transaction (a “Non-Affiliate Sale”), the price per security at which such
security is sold, and (y) in connection with any sale to an Affiliate of the Company, (1) if shares of the applicable class of Common Stock are then quoted by any national securities exchange, the average (weighted by daily trading volume)
of the Daily Prices per share of the applicable class of Common Stock for the 20 consecutive trading days immediately prior to such date, or (2) if shares of the applicable class of Common Stock are not then quoted by any national securities
exchange: 
 (a) the last price per security at which such security was sold in a Non-Affiliate Sale within the three-month
period ending on such date of determination or 
 (b) if clause (a) is not applicable, the fair market value of such
security determined in good faith by 

  
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 (i) a majority of the Board of Directors of the Company, including a
majority of the Disinterested Directors, and approved in a board resolution delivered to the Warrant Agent or 

(ii) a nationally recognized investment banking, appraisal or valuation firm, which is not an Affiliate of the Company,
in each case, taking into account, among all other factors deemed relevant by the Board of Directors or the investment banking, appraisal or valuation firm, the trading price and volume of such security on any national securities exchange or
automated quotation system on which such security is traded. 
 (h) When De Minimis Adjustment May Be Deferred.

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

 (i) When No Adjustment Required. 
 No adjustment need be made for a transaction referred to in Section 6.01(a), (b), (c), (d) or (e) hereof, if Holders are to participate (without being required to exercise their Warrants)
in the transaction on a basis and with notice that the Board of Directors determines to be fair and appropriate in light of the basis and notice on which holders of Common Stock participate in the transaction. No adjustment need be made for
(i) rights to purchase Common Stock pursuant to a Company plan for reinvestment of dividends or interest, or (ii) a change in the par value or no par value of the Common Stock. To the extent the Warrants become convertible into cash, no
adjustment need be made thereafter as to the cash. Interest will not accrue on the cash. 
 (j) Notice of Adjustment.

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

 (k) Reorganization of Company. 
 If the Company consolidates or merges with or into, or transfers or leases all or substantially all its assets to, any Person, upon consummation of such transaction the Warrants shall automatically become
exercisable for the kind and amount of securities, cash or other assets which the Holder of a Warrant would have owned immediately after the consolidation, merger, transfer or lease if the Holder had exercised the Warrant immediately before the
effective date of the transaction. Concurrently with the consummation of such transaction, the Person formed by or surviving any such consolidation or merger if other than the Company, or the Person to which

  
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such transfer or lease shall have been made, shall enter into a supplemental Agreement so providing and further providing for adjustments which shall be as nearly equivalent as may be practical
to the adjustments provided for in this Section 6.01. The successor Company shall mail to Warrant Holders a notice describing the supplemental Agreement. If the issuer of securities deliverable upon exercise of Warrants under the supplemental
Agreement is an Affiliate of the formed, surviving, transferee or lessee person, that issuer shall join in the supplemental Agreement. If this Section 6.01(k) applies to a transaction, Section 6.01(a),(b), (c), (d) and (e) hereof
do not apply. 
 (l) Company Determination Final. 

Any determination that the Company or the Board of Directors must make pursuant to Section 6.01(a) through (i) hereof is
conclusive in the absence of manifest error or bad faith. 
 (m) When Issuance or Payment May Be Deferred. 

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

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

 
 

 
 where: 
  

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

  
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 E    =    the Exercise Price prior
to adjustment. 
  

	 	(o)	Form of Warrants. 

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

 

	 	(p)	No Adjustment Below Par Value. 

 Notwithstanding anything herein to the contrary, no adjustment will be made to the Exercise Price if, as a result of such adjustment, the Exercise Price per Warrant Share would be less than the par value
of the Company’s Common Stock (or other capital stock for which any Warrant is exercisable); provided that, before taking any action which would but for the foregoing limitation in this sentence have caused an adjustment to reduce the
Exercise Price below the then par value (if any) of its Common Stock (or other capital stock for which any Warrant is exercisable), the Company will take any corporate action which would, in the opinion of its counsel, be necessary in order that the
Company may validly issue Warrant Shares at the Exercise Price as so adjusted. 
 Section 6.02. Fractional Interests. The
Company shall not be required to issue fractional Warrant Shares or scrip representing fractional shares on the exercise of Warrants. If more than one Warrant shall be presented for exercise in full at the same time by the same Holder, the number of
full Warrant Shares which shall be issuable upon the exercise thereof shall be computed on the basis of the aggregate number of Warrant Shares purchasable on exercise of the Warrants so presented. If any fraction of a Warrant Share would, except for
the provisions of this Section 6.02, be issuable on the exercise of any Warrants (or specified portion thereof), the Company shall pay an amount in cash equal to the current Daily Price per Warrant Share, as determined on the date the Warrant
is presented for exercise, multiplied by such fraction, computed to the nearest whole U.S. cent. 
 Section 6.03. Notices To
Warrant Holders. (a) Upon any adjustment of the Exercise Price pursuant to Section 6.01 hereof, the Company shall promptly thereafter (i) cause to be filed with the Warrant Agent a certificate of a firm of independent public
accountants of recognized standing selected by the Board of Directors (who may be the regular auditors of the Company) setting forth the Exercise Price after such adjustment and setting forth in reasonable detail the method of calculation and the
facts upon which such calculations are based and setting forth the number of Warrant Shares (or portion thereof) or other securities or property issuable after such adjustment in the Exercise Price, upon exercise of a Warrant and payment of the
adjusted Exercise Price, which certificate shall be conclusive evidence of the correctness of the matters set forth therein, and (ii) cause to be given to each of the Holders written notice of such adjustments by first-class mail, postage
prepaid. Where appropriate, such notice may be given in advance and included as a part of the notice required to be mailed under the other provisions of this Section 6.03. 

  
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 (b) In case: 

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

(iii) of any consolidation or merger to which the Company is a party, or of the transfer or lease of all or substantially
all assets of the Company, or of any reclassification or change of Common Stock issuable upon exercise of the Warrants (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a
subdivision or combination), or a tender offer or exchange offer for shares of Common Stock by the Company; 

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

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

  
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 ARTICLE 7 
 WARRANT AGENT 
 Section 7.01 . Warrant
Agent. The Warrant Agent undertakes the duties and obligations imposed by this Agreement upon the following terms and conditions, by all of which the Company and the holders of Warrants, by their acceptance thereof, shall be bound: 

(a) The statements contained herein and in the Warrants shall be taken as statements of the Company and the Warrant Agent assumes no
responsibility for the correctness of any of the same except such as describe the Warrant Agent or action taken or to be taken by it. The Warrant Agent assumes no responsibility with respect to the distribution of the Warrants except as herein
otherwise provided. 
 (b) The Warrant Agent has no duty to determine when an adjustment under Article 6 should be made, how it
should be made or what it should be. The Warrant Agent has no duty to determine whether any provisions of a supplemental Agreement under Section 6.01(k) hereof are correct. The Warrant Agent makes no representation as to the validity or value
of any securities or assets issued upon exercise of Warrants. 
 (c) The Warrant Agent shall not be accountable with respect to
the validity or value or the kind or amount of any Warrant Shares or of any securities or property which may at any time be issued or delivered upon the exercise of any Warrant or with respect to whether any such Warrant Shares or other securities
will, when issued, be validly issued and fully paid and nonassessable, and makes no representation with respect thereto. 
 (d)
The Warrant Agent shall not be responsible for any failure of the Company to comply with any of the covenants contained in this Agreement or in the Warrants. 
 (e) In the absence of bad faith on its part, the Warrant Agent may rely, and will be protected in acting or refraining from acting, upon any resolution, certificate, statement, instrument, opinion,
report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed or presented by the proper Person. The Warrant Agent need not
investigate any fact or matter stated in the document, but, in the case of any document which is specifically required to be furnished to the Warrant Agent pursuant to any provision hereof, the Warrant Agent shall examine the document to determine
whether it conforms to the requirements of this Agreement (but need not confirm or investigate the accuracy of mathematical calculations or other facts stated therein). The Warrant Agent, in its discretion, may make further inquiry or investigation
into such facts or matters as it sees fit. 
 (f) The Warrant Agent may not be relieved from liabilities for its own negligent
action, its own negligent failure to act, or its own willful misconduct, except that this paragraph does not limit the effect of Section 7.01(e). 
 (g) The Warrant Agent may act through its attorneys and agents and will not be responsible for the misconduct or negligence of any agent appointed with due care. 

  
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 (h) The Warrant Agent shall not be subject to any fiduciary or other implied duties of any
kind or nature and its sole obligations shall be to comply with the terms contained in this Agreement. 
 (i) The Warrant Agent
may consult with counsel, and the written advice of such counsel or any Opinion of Counsel will be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance
thereon. 
 (j) No provision of this Agreement will require the Warrant Agent to expend or risk its own funds or otherwise incur
any financial liability in the performance of its duties hereunder, or in the exercise of its rights or powers, unless it receives indemnity satisfactory to it against any loss, liability or expense. 

(k) The Warrant Agent shall act hereunder solely as agent for the Company, and its duties shall be determined solely by the provisions
hereof. No provision of this Agreement shall be construed to relieve the Warrant Agent from liability for its own negligent action, its own negligent failure to act or its own willful misconduct. 

Section 7.02. Compensation; Indemnity. (a) The Company will pay the Warrant Agent compensation as agreed upon
in writing for its services. The Company will reimburse the Warrant Agent upon request for all reasonable out-of-pocket expenses, disbursements and advances incurred or made by the Warrant Agent, except any such expense, disbursement or advance
attributable to its negligence or bad faith. Such expenses shall include the reasonable compensation and expenses of the Warrant Agent’s agents and counsel. 
 (b) The Company will indemnify the Warrant Agent for, and hold it harmless against, any loss or liability or expense incurred by it without negligence or bad faith on its part arising out of or in
connection with the acceptance or administration of this Agreement and its duties under this Agreement and the Warrants, including the costs and expenses of defending itself against any claim or liability and of complying with any process served
upon it or any of its officers in connection with the exercise or performance of any of its powers or duties under this Agreement and the Warrants, except to the extent any such loss, liability or expense may be attributable to its negligence or
willful misconduct. The Warrant Agent shall notify the Company promptly of any claim for which it may seek indemnity. Failure by the Warrant Agent to so notify the Company shall not relieve the Company of its obligations hereunder. The Company shall
defend the claim and the Warrant Agent shall cooperate in the defense at the Company’s expense. The Warrant Agent may have separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for
any settlement made without its consent, which consent shall not be unreasonably withheld. 
 Section 7.03. Individual
Rights Of Warrant Agent. The Warrant Agent, and any stockholder, director, officer or employee of it, may buy, sell or deal in any of the Warrants or other securities of the Company or become pecuniarily interested in any transaction in which
the Company may be interested, or contract with or lend money to the Company or otherwise act as fully and freely as though it were not Warrant Agent under this Agreement. Nothing herein shall preclude the Warrant Agent from acting in any other
capacity for the Company or for any other legal entity. An Agent may do the same with like rights. 

  
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 Section 7.04. Replacement of Warrant Agent. (a) The Warrant Agent

 (i) may resign at any time by 30 days written notice to the Company, 

(ii) may be removed at any time by the Company by 30 days written notice to the Warrant Agent, 

(iii) may be removed at any time by the Holders of a majority of the outstanding Warrants by written notice to the Warrant
Agent, 
 (iv) shall, if no longer eligible under Section 7.06, be subject to removal upon the request of
any Holder to the Company; and 
 (v) may be removed by the Company if: (A) the Warrant Agent is no longer
eligible under Section 7.06; (B) the Warrant Agent is adjudged a bankrupt or an insolvent; (C) a receiver or other public officer takes charge of the Warrant Agent or its property; or (D) the Warrant Agent becomes incapable of
acting. 
 A resignation or removal of the Warrant Agent and appointment of a successor Warrant Agent will become effective only upon the
successor Warrant Agent’s acceptance of appointment as provided in this Section. 
 (b) If the Warrant Agent has been
removed by the Holders, Holders of a majority of the Warrants may appoint a successor Warrant Agent with the consent of the Company. Otherwise, if the Warrant Agent resigns or is removed, or if a vacancy exists in the office of Warrant Agent for any
reason, the Company will promptly appoint a successor Warrant Agent. If the successor Warrant Agent does not deliver its written acceptance within 30 days after the retiring Warrant Agent resigns or is removed, the retiring Warrant Agent, the
Company or the Holders of a majority of the outstanding Warrants may petition any court of competent jurisdiction for the appointment of a successor Warrant Agent. 
 (c) Upon delivery by the successor Warrant Agent of a written acceptance of its appointment to the retiring Warrant Agent and to the Company, (i) the retiring Warrant Agent will transfer all property
held by it as Warrant Agent to the successor Warrant Agent, (ii) the resignation or removal of the retiring Warrant Agent will become effective, and (iii) the successor Warrant Agent will have all the rights, powers and duties of the
Warrant Agent under this Agreement. Upon request of any successor Warrant Agent, the Company will execute any and all instruments for fully and vesting in and confirming to the successor Warrant Agent all such rights, powers and trusts. The Company
will give notice of any resignation and any removal of the Warrant Agent and each appointment of a successor Warrant Agent to all Holders, and include in the notice the name of the successor Warrant Agent and the address of its Corporate Trust
Office. 

  
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 (d) Notwithstanding replacement of the Warrant Agent pursuant to this Section, the
Company’s obligations under Section 7.02 will continue for the benefit of the retiring Warrant Agent. 
 Section
7.05. Successor Warrant Agent By Merger. (a) If the Warrant Agent consolidates with, merges or converts into, or transfers all or substantially all of its corporate trust business to, another corporation or national banking
association, the resulting, surviving or transferee corporation or national banking association without any further act will be the successor Warrant Agent with the same effect as if the successor Warrant Agent had been named as the Warrant Agent in
this Agreement. 
 (b) If, at the time such successor to the Warrant Agent shall succeed to the agency created by this
Agreement, any of the Warrants have been countersigned but not delivered, the successor Warrant Agent may adopt the countersignature of the original Warrant Agent; and if any of the Warrants shall not have been countersigned, the successor Warrant
Agent may countersign such Warrants, and in all such cases such Warrants shall have the full force and effect provided in the Warrants and in this Agreement. 
 Section 7.06. Eligibility. This Agreement must always have a Warrant Agent that has a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of
condition and satisfies the eligibility requirements set forth in Section 310(a) of the Trust Indenture Act of 1939, as amended. 
 Section 7.07. Holder Lists. The Warrant Agent shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of all Holders. If the
Warrant Agent is not the Warrant Registrar, the Company shall promptly furnish to the Warrant Agent at such times as the Warrant Agent may request in writing, a list in such form and as of such date as the Warrant Agent may reasonably require of the
names and addresses of the Holders. 
 ARTICLE 8 
 MISCELLANEOUS 
 Section 8.01. Warrantholder Actions.
(a) Any notice, consent to amendment, supplement or waiver provided by this Agreement to be given by a Holder (an “act”) may be evidenced by an instrument signed by the Holder delivered to the Warrant Agent.

 (b) Any act by the Holder of any Warrant binds that Holder and every subsequent Holder of a Warrant certificate that
evidences the same Warrant of the acting Holder, even if no notation thereof appears on the Warrant certificate. Subject to paragraph (c), a Holder may revoke an act as to its Warrants, but only if the Warrant Agent receives the notice of revocation
before the date the amendment or waiver or other consequence of the act becomes effective. 

  
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 (c) The Company may, but is not obligated to, fix a record date for the purpose of
determining the Holders entitled to act with respect to any amendment or waiver or in any other regard. If a record date is fixed, those Persons that were Holders at such record date and only those Persons will be entitled to act, or to revoke any
previous act, whether or not those Persons continue to be Holders after the record date. No act will be valid or effective for more than 90 days after the record date. 
 Section 8.02. Notices. (a) Any notice or communication by the Company, on the one hand, or the Warrant Agent, on the other hand, to the other is duly given if in writing (i) when
delivered in person or (ii) five days after mailing when mailed by first class mail, or (iii) when sent by facsimile transmission, with transmission confirmed. In each case the notice or communication should be addressed as follows:

 if to the Company: 
 4023 Ambassador Caffery Parkway 
 Suite #200 

Lafayette, LA 70503 
 Attention: Earl Blackwell 
 with a copy to: 

Latham & Watkins LLP 
 811 Main Street Suite 
 3700 Houston, TX 77002 

Attention: Michael Chambers, Esq. 
 if to the Warrant Agent: 
 Wilmington Trust FSB 

246 Goose Lane, Suite 105 
 Guilford, Connecticut 06437 
 Facsimile: 203-453-1183 

Attention: Joseph O’Donnell 
 The Company or the Warrant Agent by notice to the other may designate additional or different addresses for subsequent notices or communications. 

(b) Except as otherwise expressly provided with respect to published notices, any notice or communication to a Holder will be deemed
given when mailed to the Holder at its address as it appears on the Register by first class mail or, as to any Global Warrant registered in the name of DTC or its nominee, as agreed by the Company, the Warrant Agent and DTC. Copies of any notice or
communication to a Holder, if given by the Company, will be mailed to the Warrant Agent at the same time. Defect in mailing a notice or communication to any particular Holder will not affect its sufficiency with respect to other Holders. 

  
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 (c) Where this Agreement provides for notice, the notice may be waived in writing by the
Person entitled to receive such notice, either before or after the event, and the waiver will be the equivalent of the notice. Waivers of notice by Holders must be filed with the Warrant Agent, but such filing is not a condition precedent to the
validity of any action taken in reliance upon such waivers. 
 Section 8.03 . Supplements And Amendments.
(a) The Company and the Warrant Agent may amend or supplement this Agreement or the Warrants without notice to or the consent of any Holder 
 (i) to cure any ambiguity, defect or inconsistency in this Agreement or the Warrants; 
 (ii) to comply with Section 6.01(k); 
 (iii) to evidence and
provide for the acceptance of an appointment hereunder by a successor Warrant Agent; or 
 (iv) to make any other
change that does not adversely affect the rights of any Holder. 
 (b) Except as otherwise provided in paragraphs (a) or
(c), the Company and the Warrant Agent may amend this Agreement and the Warrants with the written consent of the Holders of a majority of the outstanding Warrants, and the Holders of a majority of the outstanding Warrants by written notice to the
Warrant Agent may waive future compliance by the Company with any provision of this Agreement or the Warrants. In addition, any term of a specific Warrant may be amended or waived with the written consent of the Company and the Holder of such
Warrant. 
 (c) Notwithstanding the provisions of paragraph (b), without the consent of each Holder affected, an amendment or
waiver may not 
 (i) increase the Exercise Price; or 

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

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

(d) It is not necessary for Holders to approve the particular form of any proposed amendment, supplement or waiver, but is sufficient if
their consent approves the substance thereof. 

  
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 (e) An amendment, supplement or waiver under this Section will become effective on receipt
by the Warrant Agent of written consents from the Holders of the requisite percentage of the outstanding Warrants. After an amendment, supplement or waiver under this Section becomes effective, the Company will send to the Holders affected thereby a
notice briefly describing the amendment, supplement or waiver. Any failure of the Company to send such notice, or any defect therein, will not, however, in any way impair or affect the validity of any such supplemental indenture or waiver.

 (f) After an amendment, supplement or waiver becomes effective, it will bind every Holder unless it is of the type requiring
the consent of each Holder affected. If the amendment, supplement or waiver is of the type requiring the consent of each Holder affected, the amendment, supplement or waiver will bind each Holder that has consented to it and every subsequent Holder
of a Warrant with respect to which consent was granted. 
 (g) If an amendment, supplement or waiver changes the terms of a
Warrant, the Company or the Warrant Agent may require the Holder to deliver it to the Warrant Agent so that the Warrant Agent may place an appropriate notation of the changed terms on the Warrant and return it to the Holder, or exchange it for a new
Warrant that reflects the changed terms. The Warrant Agent may also place an appropriate notation on any Warrant thereafter countersigned. However, the effectiveness of the amendment, supplement or waiver is not affected by any failure to annotate
or exchange Warrants in this fashion. 
 (h) The Warrant Agent is entitled to receive, and will be fully protected in relying
upon, an Opinion of Counsel stating that the execution of any amendment, supplement or waiver authorized pursuant to this section is authorized or permitted by this Agreement. If the Warrant Agent has received such an Opinion of Counsel, it shall
sign the amendment, supplement or waiver so long as the same does not adversely affect the rights of the Warrant Agent. The Warrant Agent may, but is not obligated to, execute any amendment, supplement or waiver that affects the Warrant Agent’s
own rights, duties or immunities under this Agreement. 
 Section 8.04 . Governing Law. This Agreement and the Warrants
shall be governed by, and construed in accordance with, the laws of the State of New York. 
 Section 8.05 . No
Adverse Interpretation of Other Agreements. This Agreement may not be used to interpret another agreement of the Company, and no such agreement may be used to interpret this Agreement. 

Section 8.06 . Successors. All agreements of the Company in this Agreement and the Warrants will bind its successors. All
agreements of the Warrant Agent in this Agreement will bind its successors. 
 Section 8.07 . Duplicate Originals.
The parties may sign any number of copies of this Agreement. Each signed copy shall be an original, but all of them together represent the same agreement. 
 Section 8.08 . Separability. In case any provision in this Agreement or in the Warrants is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining
provisions will not in any way be affected or impaired thereby. 

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

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

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

					
	 GREEN FIELD ENERGY SERVICES, INC.

		
	 By:
	 	 /s/ Michel B. Moreno

		 	Name:	 	Michel B. Moreno
		 	Title:	 	Chief Executive Officer

 Warrant Agreement 

Table of Contents

 
					
	 WILMINGTON TRUST, NATIONAL ASSOCIATION, as Warrant Agent

		
	 By:
	 	 /s/ Joseph P. O’Donnell

		 	Name:	 	Joseph P. O’Donnell
		 	Title:	 	Vice President

 Warrant Agreement 

Table of Contents

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

 

			
	No.                     	  	         Warrants

CUSIP No.                

 Warrant Certificate 
 This Warrant Certificate certifies that                 , or its registered assigns, is the registered holder of Warrants
(the “Warrants”) to purchase Common Stock, par value $0.01 (the “Common Stock”), of Green Field Energy Services, Inc., a Delaware corporation. Each Warrant entitles the registered holder upon exercise at any time
from 9:00 a.m. on the Separation Date referred to below until 5:00 p.m. New York City Time on November 15, 2021 (the “Expiration Date”), to receive from the Company .988235 fully paid and nonassessable shares of Common Stock
(the “Warrant Shares”) at an initial exercise price (the “Exercise Price”) of $0.01 per share payable upon surrender of this Warrant Certificate at the office or agency of the Company, subject to the conditions set
forth herein and in the Warrant Agreement referred to on the reverse hereof. The Exercise Price and number of Warrant Shares issuable upon exercise of the Warrants are subject to adjustment upon the occurrence of certain events set forth in the
Warrant Agreement. 
 Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse
hereof and such further provisions shall for all purposes have the same effect as though fully set forth at this place. 
 IN
WITNESS WHEREOF, the Company has caused this Warrant Certificate to be signed below manually or by facsimile by its duly authorized officer. 
 Dated: [            ] 

  
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	 GREEN FIELD ENERGY SERVICES,
INC.

		
	 By:
	 	
		 	  

		 	Name:
		 	Title:

  
 A-2

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	 Countersigned on
[                    ]:

	
	 WILMINGTON TRUST, NATIONAL
ASSOCIATION

	 as Warrant Agent

		
	 By:
	 	  

		 	        Authorized Signatory

  
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 GREEN FIELD ENERGY SERVICES,
INC. 
 [Reverse of Warrant Certificate] 
 1. Warrant Agreement 
 The Warrants evidenced by this Warrant
Certificate are part of a duly authorized issue of Warrants issued or to be issued pursuant to a Warrant Agreement dated as of November 15, 2011 (the “Warrant Agreement”), between the Company and Wilmington Trust, National
Association, as warrant agent (the “Warrant Agent”), which Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the rights, limitation of rights,
obligations, duties and immunities thereunder of the Warrant Agent, the Company and the holders (the words “holders” or “holder” meaning the registered holders or registered holder) of the Warrants. To the extent
permitted by law, in the event of an inconsistency or conflict between the terms of this Warrant and the Warrant Agreement, the terms of the Warrant Agreement will prevail. 
 2. Exercise 
 Warrants may be exercised at any time on or after the
Separation Date (as defined in the Warrant Agreement) and on or before 5:00 p.m. New York City time on the Expiration Date; provided that holders shall be able to exercise their Warrants only if the exercise of such Warrants is exempt from,
or in compliance with, the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), and such securities are qualified for sale or exempt from qualification under the applicable securities laws of
the states in which the various holders of the Warrants or other persons to whom it is proposed that the Warrant Shares be issued on exercise of the Warrants reside. In order to exercise all or any of the Warrants represented by this Warrant
Certificate, the holder must deliver to the Warrant Agent at its Corporate Trust Office set forth in the Warrant Agreement this Warrant Certificate and the form of election to purchase on the reverse hereof duly completed, which signature shall be
medallion guaranteed by an institution which is a member of a Securities Transfer Association recognized signature guarantee program, and upon payment to the Warrant Agent for the account of the Company of the Exercise Price in the manner set forth
in the Warrant Agreement for the number of Warrant Shares in respect of which such Warrants are then exercised. 
 No Warrant
may be exercised after 5:00 p.m., New York City time, on the Expiration Date, and to the extent not exercised by such time the Warrants shall become void. 
 3. Adjustments 
 The Warrant Agreement provides that, upon the
occurrence of certain events, the Exercise Price set forth on the face hereof may, subject to certain conditions, be adjusted. The Warrant Agreement also provides that the number of shares of Common Stock issuable upon the exercise of each Warrant
shall be adjusted in certain events. 

  
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 4. No Fractional Shares. 

No fractions of a share of Common Stock will be issued upon the exercise of any Warrant, but the Company will pay the cash value thereof
determined as provided in the Warrant Agreement. 
 5. Registration Rights. 

In addition to the rights provided to Holders under the Warrant Agreement, Holders of Registrable Securities (as defined in the Equity
Registration Rights Agreement) shall have all the rights set forth in the Equity Registration Rights Agreement, dated as of the date of the Warrant Agreement, among the Company and the Initial Purchaser, as such agreement may be amended, modified or
supplemented from time to time. 
 6. Registered Form; Transfer and Exchange. 

The Warrants are in registered form. Warrant Certificates, when surrendered at the office of the Warrant Agent by the registered holder
thereof in person or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge (except as specified in
the Warrant Agreement), for another Warrant Certificate or Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants. 
 Upon due presentation for registration of transfer of this Warrant Certificate at the office of the Warrant Agent a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the
aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed
in connection therewith. 
 The Company and the Warrant Agent may deem and treat the registered holder(s) thereof as the
absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the holder(s) hereof, and for all other purposes, and
neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a stockholder of the Company. 

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

8. Governing Law. 
 This Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York. 

  
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 9. Abbreviations. 

Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by
the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= Custodian) and U/G/M/A/ (= Uniform Gifts to Minors Act). 
 A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the Company. 

  
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 [Form of Election to Purchase] 

(To Be Executed Upon Exercise Of Warrant) 
 (1) The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive
                     shares of Common Stock and herewith tenders payment for such shares to the order of Green Field Energy Services, Inc., in the
amount of $                 in accordance with the terms hereof. 
 OR 
 (2) The undersigned hereby irrevocably elects to convert this Warrant into
                     shares of Common Stock (before giving effect to the cashless exercise provisions) and herewith agrees to make payment therefor
pursuant to the cashless exercise provisions of the Warrant Agreement, all on the terms and the conditions specified in the Warrant Certificate and the Warrant Agreement. 
 The undersigned requests that a certificate for such shares be registered in the name of
                    , whose address is
                     and that such shares be delivered to
                    , whose address is
                    . If said number of shares is less than all of the shares of Common Stock purchasable hereunder, the undersigned requests that a
new Warrant Certificate representing the remaining balance of such shares be registered in the name of                     , whose address
is                    , and that such Warrant Certificate be delivered to whose address is
                                . 

If the undersigned has elected to purchase Warrant Shares pursuant to option (1) above and such Warrant Shares have not been
registered pursuant to a registration statement that has been declared effective under the securities act, the undersigned represents and warrants that (w) it is not a U.S. person (as defined in Regulation S) or purchasing for the account or
benefit of a U.S. person, other than a distributor, and it is purchasing the Warrant Shares in an offshore transaction in accordance with Regulation S, (x) it is a qualified institutional buyer (as defined in Rule 144A) and is purchasing the
Warrant Shares for its own account or for the account of another qualified institutional buyer, and it is aware that the Company is selling the Warrant Shares to it in reliance on Rule 144A; (y) it is an “accredited investor” within
the meaning of Rule 501 under the Securities Act or (z) it is purchasing the Warrant Shares pursuant to another available exemption from the registration requirements of the Securities Act. Prior to a purchase of Warrant Shares pursuant to
clauses (w) and (x) above, the Company and the Warrant Agent may request a certificate substantially in the form of Exhibit D and Exhibit E to the Warrant Agreement respectively. Prior to the purchase of Warrant Shares pursuant to clause
(y) above, the Company may request a certificate substantially in the form of Exhibit F and/or an opinion of counsel. Prior to the purchase of Warrant Shares pursuant to clause (z) above the Warrant Agent may request appropriate
certificates and/or an opinion of counsel. 

  
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		  	Signature
		
	Date:	  	
		
		  	
		  	  

		  	Signature Guaranteed

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

  
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 SCHEDULE OF EXCHANGES OF INTERESTS OF GLOBAL WARRANTS 

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

 

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

  
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 [FORM OF TRANSFER NOTICE] 

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

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

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

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

 ̈        (1) This Warrant is being transferred to
a “qualified institutional buyer” in compliance with Rule 144A under the Securities Act of 1933, as amended and certification in the form of Exhibit E to the Warrant Agreement is being furnished herewith. 

 ̈        (2) This Warrant is being transferred to
a Non-U.S. Person in compliance with the exemption from registration under the Securities Act of 1933, as amended, provided by Regulation S thereunder, and certification in the form of Exhibit D to the Warrant Agreement is being furnished herewith.

 or 
  ̈        (3) This Warrant is being transferred other than in accordance with (1) or (2) above and
documents are being furnished which comply with the conditions of transfer set forth in this Warrant and the Warrant Agreement. 

If none of the foregoing boxes is checked, the Warrant Agent is not obligated to register this Warrant in the name of any Person other
than the Holder hereof unless and until the conditions to any such transfer of registration set forth herein and in the Warrant Agreement have been satisfied. 

  
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 Date:____________________ 

__________________________ 
 Seller 
 By________________________ 

NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within-mentioned instrument in
every particular, without alteration or any change whatsoever. 
 Signature Guarantee:5 _______________________________ 

 
  
 5Signatures
must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include membership or participation in the Securities Transfer Association Medallion Program
(“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended.

  
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 EXHIBIT B 
 RESTRICTED LEGEND 
 THIS WARRANT AND THE UNDERLYING COMMON STOCK TO BE ISSUED UPON
ITS EXERCISE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN ACCORDANCE WITH THE FOLLOWING SENTENCE. THE HOLDER OF THIS
WARRANT, BY ITS ACCEPTANCE HEREOF, AGREES ON ITS OWN BEHALF AND ON BEHALF OF ANY INVESTOR ACCOUNT FOR WHICH IT HAS PURCHASED SECURITIES, TO OFFER, SELL OR OTHERWISE TRANSFER SUCH WARRANT AND THE UNDERLYING COMMON STOCK TO BE ISSUED UPON ITS
EXERCISE, ONLY (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE WARRANTS OR UNDERLYING COMMON STOCK TO BE
EXERCISED UPON ITS ISSUANCE (AS APPLICABLE) ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER THE SECURITIES ACT, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT
THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS IN OFFSHORE
TRANSACTIONS WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT AND IN ACCORDANCE WITH THE LAWS APPLICABLE TO SUCH PURCHASER IN THE JURISDICTION IN WHICH SUCH PURCHASE IS MADE, (E) TO AN “ACCREDITED INVESTOR” WITHIN THE
MEANING OF RULE 501 OF REGULATION D UNDER THE SECURITIES ACT THAT IS AN ACCREDITED INVESTOR ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF SUCH AN ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF THE SECURITIES OF
$250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE WARRANT AGENT’S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (C) OR (D) TO REQUIRE THE DELIVERY OF A DULY COMPLETED AND SIGNED CERTIFICATE (THE

  
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FORM OF WHICH MAY BE OBTAINED FROM THE WARRANT AGENT) AND PURSUANT TO CLAUSES (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/ OR OTHER INFORMATION
SATISFACTORY TO THE COMPANY. EACH HOLDER AGREES NOT TO ENGAGE IN ANY HEDGING TRANSACTIONS WITH REGARDS TO THE WARRANTS OR WARRANT SHARES UNLESS IN COMPLIANCE WITH THE SECURITIES ACT. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER
THE RESALE RESTRICTION PERIOD. 

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

  
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 EXHIBIT D 
 Regulation S Certificate 
 _________, ____ 

Wilmington Trust, National Association 
 246
Goose Lane, Suite 105 
 Guilford, Connecticut 06437 
 Attention: Joseph O’Donnell 
  

	        Re:    	Green Field Energy Services, Inc. Warrants to acquire Common Stock of Green Field Energy Services, Inc. (the “Warrants”) Issued under the Warrant
Agreement (the “Agreement”) dated as of November 15, 2011 relating to the Warrants 

 Ladies
and Gentlemen: 
 Terms are used in this Certificate as used in Regulation S (“Regulation S”) under the
Securities Act of 1933, as amended (the “Securities Act”), except as otherwise stated herein. 
 [CHECK A OR
B AS APPLICABLE.] 
  ̈ A.    This Certificate relates to our
proposed transfer of          principal amount of Warrants issued under the Agreement. We hereby certify as follows: 
 1. The offer and sale of the Warrants was not and will not be made to a person in the United States (unless such person is excluded from the definition of “U.S. person” pursuant to Rule
902(k)(2)(vi) or the account held by it for which it is acting is excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(i) under the circumstances described in Rule 902(h)(3)) and such offer and sale was not and will not
be specifically targeted at an identifiable group of U.S. citizens abroad. 
 2. Unless the circumstances described in the
parenthetical in paragraph 1 above are applicable, either (a) at the time the buy order was originated, the buyer was outside the United States or we and any person acting on our behalf reasonably believed that the buyer was outside the United
States or (b) the transaction was executed in, on or through the facilities of a designated offshore securities market, and neither we nor any person acting on our behalf knows that the transaction was pre-arranged with a buyer in the United
States. 

  
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 3. Neither we, any of our affiliates, nor any person acting on our or their behalf has made
any directed selling efforts in the United States with respect to the Warrants. 
 4. The proposed transfer of Warrants is not
part of a plan or scheme to evade the registration requirements of the Securities Act. 
 5. If we are a dealer or a person
receiving a selling concession, fee or other remuneration in respect of the Warrants, and the proposed transfer takes place during the one-year distribution compliance period (as defined in Rule 902(f) of Regulation S), or we are an officer or
director of the Company, we certify that the proposed transfer is being made in accordance with the provisions of Rule 904(b) of Regulation S. 

 ̈ B.    This Certificate relates to our proposed exchange of
         of Warrants issued under the Agreement for an equal number of Warrants to be held by us. We hereby certify as follows: 
 1. At the time the offer and sale of the Warrants was made to us, either (i) we were not in the United States or (ii) we were excluded from the definition of “U.S. person” pursuant to
Rule 902(k)(2)(vi) or the account held by us for which we were acting was excluded from the definition of “U.S. person” pursuant to Rule 902(k)(2)(i) under the circumstances described in Rule 902(h)(3); and we were not a member of an
identifiable group of U.S. citizens abroad. 
 2. Unless the circumstances described in paragraph 1(ii) above are applicable,
either (a) at the time our buy order was originated, we were outside the United States or (b) the transaction was executed in, on or through the facilities of a designated offshore securities market and we did not pre-arrange the
transaction in the United States. 
 3. The proposed exchange of Warrants is not part of a plan or scheme to evade the
registration requirements of the Securities Act. 

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

 

	
	 Very truly yours,

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

	
	
	 By: _______________________________

	
	 Name:

	
	 Title:

	
	 Address:

	
	 Date:

	

  
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 EXHIBIT E 
 Rule 144A Certificate 
 _______, _____ 

Wilmington Trust, National Association 
 246
Goose Lane, Suite 105 
 Guilford, Connecticut 06437 
 Attention: Joseph O’Donnell 
  

	        Re:    	Green Field Energy Services, Inc. Warrants to acquire Common Stock of Green Field Energy Services, Inc. (the “Warrants”) Issued under the Warrant
Agreement (the “Agreement”) dated as of November 15, 2011 relating to the Warrants 

 Ladies and Gentlemen:

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

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

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

 

	
	 Very truly yours,

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

	
	
	 By: _____________________________

	
	 Name:

	
	 Title:

	
	 Address:

	
	 Date:

	

  
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 EXHIBIT F 
 Accredited Investor Certificate 
 ________, ______ 

Wilmington Trust, National Association 
 246
Goose Lane, Suite 105 
 Guilford, Connecticut 06437 
 Attention: Joseph O’Donnell 
  

	        Re:    	Green Field Energy Services, Inc. Warrants to acquire Common Stock of Green Field Energy Services, Inc. (the “Warrants”) Issued under the Warrant
Agreement (the “Agreement”) dated as of November 15, 2011 relating to the Warrants 

 Ladies and Gentlemen:

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

 ̈ A.    Our proposed purchase of ____ Warrants issued under the Agreement.

  ̈ B.    Our proposed exchange of ____ Warrants issued under the
Agreement for an equal number of Warrants to be held by us. 
 We hereby confirm that: 

1. We are an “accredited investor” within the meaning of Rule 501 under the Securities Act of 1933, as amended (the “Securities Act”)
(an “Accredited Investor”). 
 2. Any acquisition of Warrants by us will be for our own account or for the account of one or more
other Accredited Investors as to which we exercise sole investment discretion. 
 3. We have such knowledge and experience in financial and
business matters that we are capable of evaluating the merits and risks of an investment in the Warrants and we and any accounts for which we are acting are able to bear the economic risks of and an entire loss of our or their investment in the
Warrants. 

  
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 4. We are not acquiring the Warrants with a view to any distribution thereof in a transaction that would
violate the Securities Act or the securities laws of any State of the United States or any other applicable jurisdiction; provided that the disposition of our property and the property of any accounts for which we are acting as fiduciary will
remain at all times within our and their control. 
 5. We acknowledge that the Warrants have not been registered under the Securities Act and
that the Warrants may not be offered or sold within the United States or to or for the benefit of U.S. persons except as set forth below. 
 6.
The purchase price of the Warrants to which this Certificate relates is at least equal to $250,000. 
 We agree for the benefit
of the Company, on our own behalf and on behalf of each account for which we are acting, that such Warrants may be offered, sold, pledged or otherwise transferred only in accordance with the Securities Act and any applicable securities laws of any
State of the United States and only (a) to the Company or any subsidiary thereof, (b) pursuant to a registration statement that has been declared effective under the Securities Act, (c) to a person it reasonably believes is a
qualified institutional buyer in compliance with Rule 144A under the Securities Act, (d) in an offshore transaction in compliance with Rule 904 of Regulation S under the Securities Act, (e) for a purchase price of not less than $250,000,
to an Accredited Investor that, prior to such transfer, delivers to the Warrant Agent a duly completed and signed certificate (the form of which may be obtained from the Warrant Agent) relating to the restrictions on transfer of the Warrants or
(f) pursuant to any other available exemption from the registration requirements of the Securities Act. 
 Prior to the
registration of any transfer in accordance with (c) or (d) above, we acknowledge that a duly completed and signed certificate (the form of which may be obtained from the Warrant Agent) must be delivered to the Warrant Agent. Prior to the
registration of any transfer in accordance with (e) or (f) above, we acknowledge that the Company reserves the right to require the delivery of such legal opinions, certifications or other evidence as may reasonably be required in order to
determine that the proposed transfer is being made in compliance with the Securities Act and applicable state securities laws. We acknowledge that no representation is made as to the availability of any exemption from the registration requirements
of the Securities Act. 
 We understand that the Warrant Agent will not be required to accept for registration of transfer any
Warrants acquired by us, except upon presentation of evidence satisfactory to the Company and the Warrant Agent that the foregoing restrictions on transfer have been complied with. We further understand that the Warrants acquired by us will bear a
legend reflecting the substance of the preceding paragraph. We further agree to provide to any person acquiring any of the Warrants from us a notice advising such person that resales of the Warrants are restricted as stated herein and that the
Warrants will bear a legend to that effect. 

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

	
	 Very truly yours,

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

	
	
	 By: __________________________

	
	 Name:

	
	 Title:

	
	 Address:

	
	 Date:

	

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

 _________________________________________ 
 Taxpayer ID number: _______________________ 

  
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 EXHIBIT G 
 THE NOTES AND WARRANTS EVIDENCED BY THIS CERTIFICATE ARE INITIALLY ISSUED AS PART OF AN ISSUANCE OF UNITS (THE “UNITS”), EACH OF WHICH CONSISTS OF $1,000 PRINCIPAL AMOUNT OF THE 13.00% SENIOR
SECURED NOTES DUE 2018 (THE “NOTES”) OF GREEN FIELD ENERGY SERVICES, INC. AND ONE WARRANT (THE “WARRANTS”) INITIALLY ENTITLING THE HOLDER THEREOF TO PURCHASE 0.988235 SHARES, PAR VALUE $0.01 PER SHARE, PAR VALUE $0.01 PER SHARE,
OF COMMON STOCK OF GREEN FIELD ENERGY SERVICES, INC. 
 PRIOR TO THE EARLIEST TO OCCUR OF (I) 180 DAYS AFTER THE CLOSING OF
THE OFFERING OF THE UNITS, (II) THE DATE ON WHICH A REGISTRATION STATEMENT WITH RESPECT TO A REGISTERED EXCHANGE OFFER FOR THE NOTES IS DECLARED EFFECTIVE UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
(III) THE DATE ON WHICH A RESALE REGISTRATION STATEMENT WITH RESPECT TO THE WARRANT SHARES IS DECLARED EFFECTIVE UNDER THE SECURITIES ACT, AND (IV) SUCH DATE AS JEFFERIES & COMPANY, INC. IN ITS SOLE DISCRETION SHALL ESTABLISH ON AT LEAST
ONE BUSINESS DAYS’ NOTICE TO THE COMPANY, THE WARRANTS EVIDENCED BY THIS CERTIFICATE MAY NOT BE TRANSFERRED OR EXCHANGED SEPARATELY FROM, BUT MAY BE TRANSFERRED OR EXCHANGED ONLY TOGETHER WITH, THE ATTACHED NOTE, AND THE NOTES EVIDENCED BY THIS
CERTIFICATE MAY NOT BE TRANSFERRED OR EXCHANGED SEPARATELY FROM, BUT MAY BE TRANSFERRED OR EXCHANGED ONLY TOGETHER WITH, THE ATTACHED WARRANT. 
 NEITHER THIS UNIT, NOR THE UNDERLYING NOTE AND WARRANT OF WHICH IT IS CONSTITUTED, HAS BEEN REGISTERED UNDER THE SECURITIES ACT. SEE THE TRANSFER RESTRICTION LEGENDS SET FORTH ON THE FACE OF NOTE AND FACE
OF WARRANT FOR IMPORTANT INFORMATION.

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