Document:

EX-10.1

 Exhibit 10.1 
 AMENDMENT NO. 1 TO PURCHASE AND SALE AGREEMENT 
 THIS AMENDMENT NO. 1 TO
PURCHASE AND SALE AGREEMENT (this “Amendment”) is executed on May 30, 2013, by and among (i) PDC Energy, Inc., a Nevada corporation (“PDC”), CO and PA 1999D Limited Partnership, Colorado 2000B Limited
Partnership, Colorado 2000C Limited Partnership, Colorado 2000D Limited Partnership, Colorado 2001A Limited Partnership, Colorado 2001B Limited Partnership, Colorado 2001C Limited Partnership, Colorado 2001D Limited Partnership, Colorado 2002A
Limited Partnership, PDC 2002-B Limited Partnership, PDC 2002-C Limited Partnership, Rockies Region 2006 Limited Partnership and Rockies Region 2007 Limited Partnership, each a West Virginia limited partnership (each, a
“Partnership,” and together with PDC, “Seller”), whose address is 1775 Sherman Street, Suite 3000, Denver, CO 80203, and (ii) Caerus Piceance LLC, a Colorado limited liability company (“Caerus
Piceance”), Caerus Operating LLC, a Delaware limited liability company (“Caerus Operating”), and Caerus Washco LLC, a Colorado limited liability company (“Caerus Washco” and, together with Caerus Piceance,
“Buyer”), whose address is 600 Seventeenth Street, Suite 1600N, Denver, CO 80202. Seller, Buyer and Caerus Operating are individually referred to herein as a “Party” or collectively as the
“Parties.” 
 RECITALS: 
 WHEREAS, Seller, Buyer and Caerus Operating are parties to that certain Purchase and Sale Agreement executed on February 4, 2013, as amended by that certain letter agreement among the Parties
executed on March 29, 2013 (the “Agreement”) (capitalized terms used herein but not defined in this Amendment shall have the meanings ascribed to them in the Agreement); and 

WHEREAS, Seller, Buyer and Caerus Operating desire to amend the Agreement in the manner and upon the terms and conditions hereafter set
forth. 
 NOW, THEREFORE, in consideration of the premises and of the mutual promises, representations, warranties, covenants,
conditions and agreements contained herein, and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound by the terms hereof, agree as follows: 

1. General Amendment. All references in the Agreement (including in any Exhibit or Schedule) (a) to Caerus Piceance
LLC as a Delaware limited liability company shall be replaced with a reference to Caerus Piceance LLC as a Colorado limited liability company, and (b) to Caerus Operating LLC as a Colorado limited liability company shall be replaced with a
reference to Caerus Operating LLC as a Delaware limited liability company. 
 2. Amendment to Section 4.5(a).
The penultimate sentence of Section 4.5(a) of the Agreement shall be deleted in its entirety and replaced with the following: 
 “If prior to June 30, 2013, Seller fails to obtain the Required Consents set forth on Schedule 4.5(a)(iii) then either Party shall have the right to terminate this Agreement in accordance
with Section 11.1(g).” 

 3. Amendment to Section 11.1(d). Section 11.1(d) of the
Agreement shall be deleted in its entirety and replaced with the following: 
 “(d) by Seller, if, through no fault of
Seller, the Closing does not occur on or before the earlier of (i) three (3) business days following receipt of the Required Consents set forth on Schedule 4.5(a)(iii), and (ii) June 30, 2013;” 

4. Amendment to Section 11.1(e). Section 11.1(e) of the Agreement shall be deleted in its entirety and
replaced with the following: 
 “(d) by Buyer, if, through no fault of Buyer, the Closing does not occur on or before the
earlier of (i) three (3) business days following receipt of the Required Consents set forth on Schedule 4.5(a)(iii), and (ii) June 30, 2013;” 
 5. Amendment to Section 11.1(g). Section 11.1(g) of the Agreement shall be deleted in its entirety and replaced with the following: 

“(g) by Buyer or Seller, in the event that any Required Consent set forth on Schedule 4.5(a)(iii) is not obtained on or prior
to June 30, 2013.” 
 6. Amendment to Exhibit C. Exhibit C to the Agreement shall amended adding the
Contracts listed on Annex I to this Amendment and deleting the Contract listed on Annex II to this Amendment. 

7. Agreements with Respect to Certain Contracts. 
 a. The Parties acknowledge that each of the Kinder Morgan FTA and the Cheyenne FTA listed on Annex I to this Amendment requires a waiver from the Federal Energy Regulatory Commission
(“FERC”) in accordance with FERC’s capacity release policies (such waivers, the “FERC Waivers”) in order to assign such Contracts to Buyer. Schedule 4.5(a)(i) of the Agreement is hereby amended to add the
Kinder Morgan FTA and the Cheyenne FTA, and the FERC Waivers shall hereafter be deemed to be Required Consents under the Agreement. From and after the date of this Amendment, Seller shall use reasonable efforts to obtain the FERC Waivers prior to
Closing in accordance with Section 4.5(a) of the Agreement, and, if the FERC Waivers are not obtained prior to Closing, Seller (with Buyer’s assistance) shall use its reasonable efforts to obtain the FERC Waivers as promptly as possible
following Closing in accordance with the terms and conditions of Section 4.5(a) of the Agreement. 
 b. The Parties agree
that, notwithstanding anything to the contrary in the Agreement, but subject to obtaining the FERC Waivers described in paragraph 7(a) above, (i) at the Closing (or as soon thereafter as all applicable FERC Waivers are obtained),
(a) Seller shall cause Riley Natural Gas Company, an affiliate of Seller (“Riley”), to deliver to Buyer a duly executed assignment and assumption agreement substantially in the form of the Assignment and Assumption Agreement
attached to the Agreement as Exhibit E, pursuant to which Riley will assign to Caerus Washco LLC the Contracts listed on Annex I to this Amendment (the “Riley Assignment”), and (b) Caerus Washco LLC shall deliver to
Seller a duly executed Riley Assignment; and (ii) Seller shall take all actions necessary to terminate the Contract listed on Annex II to this Amendment prior to or at the Closing (or as soon thereafter as the FERC Waivers are obtained).
Section 12.3 of the Agreement is hereby amended to add the foregoing as obligations of the Parties to be performed at the Closing. 

 c. Notwithstanding anything in the Agreement or in this Amendment to the contrary, the
Parties agree that none of the Contracts listed on Annex I to this Amendment shall be assigned to Buyer, and the Contract listed on Annex II to this Amendment shall not be terminated by Riley, until the FERC Waivers have been obtained.

 d. Seller shall have no obligation to cause Riley to pay to Buyer, and Riley shall not be obligated to pay to Buyer, any
proceeds earned by Riley under the Riley-PDC Contract (defined on Annex II to this Amendment), the Kinder-Morgan FTA or the Cheyenne FTA to the extent that such proceeds were earned between the Effective Time and March 31, 2013. Seller
shall be obligated to cause Riley to pay to Buyer proceeds earned by Riley under the Riley–PDC Contract, the Kinder-Morgan FTA and the Cheyenne FTA to the extent that such proceeds were earned between April 1, 2013 and the date of
assignment or termination of such agreements, as applicable. 
 8. Hedging Transactions. Schedule 8.4(f) of the
Agreement shall be amended by adding the hedging transactions set forth on Annex III hereto, entered into on April 25, 2013 by and between PDC and the banking institutions set forth on Annex III (the “Additional
Hedges”). The Parties hereby agree that the Additional Hedges shall constitute Hedging Transactions under the Agreement, and such Additional Hedges shall be transferred to, or novated in favor of, Caerus Operating in accordance with the
terms and conditions of the Agreement. Notwithstanding the foregoing, no adjustment to the Purchase Price shall be made pursuant to Section 2.3(c)(6) or Section 2.3(d)(10) with respect to the gains or losses recognized by Seller between
the Effective Time and the Closing Date with respect to the Additional Hedges that comprise Hedging Transactions. 
 9.
Continuation of Agreement. From and after the execution date of this Amendment, all references to the Agreement set forth therein or in any other agreement or instrument shall, unless otherwise specifically provided, be references to
the Agreement as amended by this Amendment and as may be further amended, modified, restated or supplemented from time to time by the Parties. This Amendment is limited as specified and shall not constitute or be deemed to constitute an amendment,
modification or waiver of any provision of the Agreement except as expressly set forth herein. As amended hereby, the Agreement shall continue in full force and effect according to its terms. 

10. Governing Law. THIS AMENDMENT AND ANY ARBITRATION OR DISPUTE RESOLUTION CONDUCTED PURSUANT HERETO SHALL BE CONSTRUED IN
ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE STATE OF COLORADO, WITHOUT REGARD TO ITS CHOICE OF LAW PRINCIPLES. SUBJECT TO SECTION 15.10 OF THE AGREEMENT, JURISDICTION AND VENUE WITH RESPECT TO ANY DISPUTES ARISING HEREUNDER SHALL BE PROPER
ONLY IN DENVER COUNTY, COLORADO, AND THE PARTIES HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION THEY MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY DISPUTE ARISING OUT OF OR RELATING TO THIS AMENDMENT OR ANY
OF THE TRANSACTIONS CONTEMPLATED HEREBY BROUGHT IN SUCH COURTS OR ANY DEFENSE OF INCONVENIENT FORUM FOR THE MAINTENANCE OF SUCH DISPUTE. 

 11. Counterparts/Electronic Signatures. This Amendment may be executed and
delivered in one or more counterparts, each of which when executed and delivered shall be an original, and all of which when executed shall constitute one and the same instrument. The exchange of copies of this Amendment and of signature pages by
facsimile or by electronic image scan transmission in .pdf format shall constitute effective execution and delivery of this Amendment as to the Parties and may be used in lieu of the original Amendment for all purposes. 

[Signature page follows.] 

 IN WITNESS WHEREOF, this Amendment has been signed by each of the Parties on the date first
above written. 
  

			
	SELLER:
	
	PDC ENERGY, INC.
		
	By:	 	 /s/ Lance A. Lauck

		 	Name: Lance A. Lauck
		 	Title: Senior Vice President – Corporate Development
	
	 CO AND PA 1999D LIMITED PARTNERSHIP
 COLORADO 2000B LIMITED PARTNERSHIP
 COLORADO 2000C LIMITED PARTNERSHIP

COLORADO 2000D LIMITED PARTNERSHIP
 COLORADO
2001A LIMITED PARTNERSHIP
 COLORADO 2001B LIMITED PARTNERSHIP
 COLORADO 2001C LIMITED PARTNERSHIP
 COLORADO 2001D LIMITED PARTNERSHIP

COLORADO 2002A LIMITED PARTNERSHIP
 PDC 2002-B
LIMITED PARTNERSHIP
 PDC 2002-C LIMITED PARTNERSHIP
 ROCKIES REGION 2006 LIMITED PARTNERSHIP
 ROCKIES REGION 2007 LIMITED
PARTNERSHIP

	
	By: PDC ENERGY, INC., General Partner
		
	By:	 	 /s/ Lance A. Lauck

		 	 Name: Lance A. Lauck

Title: Senior Vice President – Corporate Development

  

			
	BUYER:
	
	CAERUS OPERATING LLC
		
	By:	 	 /s/ David H. Keyte

		 	Name: David H. Keyte
		 	Title: Chief Executive Officer
	
	CAERUS PICEANCE LLC
		
	By:	 	 /s/ David H. Keyte

		 	 Name: David H. Keyte

Title: Vice President and Treasurer

	
	CAERUS WASHCO LLC
		
	By:	 	 /s/ David H. Keyte

		 	 Name: David H. Keyte

Title: Chief Executive Officer and TreasurerEX-4.10

 EXHIBIT 4.10 

 

			
	COMMON SHARES	  	COMMON SHARES
		
	 PAR VALUE $0.01
	  	 THIS CERTIFICATE IS
 TRANSFERABLE IN CANTON, MA
 AND NEW YORK, NY

		
	Certificate Number	  	Shares

 EPR PROPERTIES 
 ORGANIZED UNDER THE LAWS OF THE STATE OF MARYLAND 
  

			
	THIS CERTIFIES THAT	  	CUSIP 26884U 10 9
		
	is the owner of	  	SEE REVERSE SIDE FOR CERTAIN DEFINITIONS

 FULLY PAID AND NONASSESSABLE COMMON SHARES OF BENEFICIAL INTEREST, $0.01 PAR VALUE 

PER SHARE, OF 
 EPR Properties
(the “Trust”), transferable on the books of the Trust by the holder hereof in person or by its duly authorized attorney upon surrender of this Certificate properly endorsed. This Certificate and the shares represented hereby are issued
and shall be held subject to all of the provisions of the Declaration of Trust and Bylaws of the Trust and any amendments thereto. This Certificate is not valid unless countersigned and registered by the Transfer Agent and Registrar. 

In Witness Whereof, the Trust has caused this Certificate to be executed on its behalf by its duly authorized officers. 

 

							
	/s/ David M. Brain	 	EPR PROPERTIES	 		 	DATED DD-MMM-YYYY
	President and Chief Executive Officer	 	FORMED	 		 	COUNTERSIGNED AND REGISTERED:
	/s/ Gregory K. Silvers	 	1997	 		 	COMPUTERSHARE TRUST COMPANY, N.A.
	Chief Operating Officer	 	MARYLAND	 		 	TRANSFER AGENT AND REGISTRAR,
	/s/ Robert J. Druten	 		 	By	 	  

	Chairman of the Board of Trustees	 		 		 	AUTHORIZED SIGNATURE

 EPR PROPERTIES 
 The Trust will furnish to any shareholder, on request and without charge, a full statement of the information required by Section 8-203(d) of the Corporations and Associations Article of the
Annotated Code of Maryland with respect to the designations and any preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications, and terms and conditions of redemption of
the shares of each class of beneficial interest which the Trust has authority to issue and, if the Trust is authorized to issue any preferred or special class in series, (i) the differences in the relative rights and preferences between the
shares of each series to the extent set and (ii) the authority of the Board of Trustees to set such rights and preferences of subsequent series. The foregoing summary does not purport to be complete and is subject to and qualified in its
entirety by reference to the Declaration of Trust of the Trust, a copy of which will be furnished without charge to each shareholder who so requests. Such request must be made to the Secretary of the Trust at its principal office or to the Transfer
Agent and Registrar. 
 The securities represented by this certificate are subject to restrictions on ownership and transfer for
the purpose of the Trust’s maintenance of its status as a real estate investment trust under the Internal Revenue Code of 1986, as amended, and for other purposes. Except as otherwise provided pursuant to the Declaration of Trust of the Trust,
no person may own Shares in excess of 9.8% (or such greater percentage as may be determined by the Board of Trustees of the Trust) of the number or value of the outstanding shares of beneficial interest of the Trust. Any Person who attempts or
proposes to own Shares in excess of the above limitations must notify the Trust in writing at least 15 days prior to such proposed or attempted Transfer. All capitalized terms in this legend have the meanings defined in the Declaration of Trust of
the Trust, a copy of which, including the restrictions on transfer, will be furnished without charge to each shareholder who so requests. Such request must be made to the Secretary of the Trust at its principal office or to the Transfer Agent and
Registrar. If the restrictions on transfer are violated, the securities represented hereby which are in excess of the above limitations will be designated and treated as Excess Shares which will be held in trust by the Excess Share Trustee for the
benefit of the Charitable Beneficiary. 
 KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN OR DESTROYED, THE TRUST WILL REQUIRE A
BOND OF INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE. 
  

							
	The following abbreviations,
when used on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations:
	 			 
	TEN COM –	  	as tenants in common	  	UNIF GIFT MIN ACT                        
    	  	Custodian                  
                                  
	TEN ENT –	  	as tenants by the entireties	  	(Cust)            	  	(Minor)                 
   
	JT TEN –	  	as joint tenants with right of survivorship and not as tenants in common	  	
under Uniform Gifts to Minors Act               
                                         
                          
 (State)                                

	 	  		  	UNIF TRF MIN ACT                        
      	  	Custodian (until age               
                )
	 	  		  	(Cust)            	  	 
	 	  		  	                  
                   under Uniform Transfers to Minors Act           
                          
	 	  		  	          (Minor)	  	(State)              
	 
	Additional abbreviations may
also be used though not in the above list.

  

			
		 	 PLEASE INSERT SOCIAL SECURITY OR OTHER    

IDENTIFYING NUMBER OF ASSIGNEE    

	For value received,
                            hereby sell, assign and transfer unto	 	 
		 	
	 	 	 
	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE)
		 	
	 	 	 
		 	
	 	 	 
		 	
	 	 	 
	 	 	Shares
	of beneficial interest of the Trust representated by this Certificate and does hereby irrevocably constitute and appoint
	 	 	Attorney
	to transfer the said shares on the books of the Trust, with full power of substitution in the premises.
	
Dated:                        
                                         
  20                

Signature:                       
                                         
                 

Signature:                       
                                         
                 
 Notice:       The signature to this assignment must be correspond with the name as written upon the face of the certificate, in every particular, without alteration or
enlargement, or any change whatever.
	 	
Signature(s) Guaranteed:
 Medallion Guarantee Stamp
 THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE
GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15.

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