Document:

EX-10.15

 Exhibit 10.15 

 
 AMENDMENT NO. 1 TO 

AMENDED AND RESTATED GAS PROCESSING AGREEMENT 

 
 This Amendment No. 1 to Amended and Restated Gas
Processing Agreement, dated as of May 20, 2015 (this “Amendment”), is entered into by and among PennTex North Louisiana, LLC, a Delaware company and successor in interest to PennTex North Louisiana Operating, LLC
(“Processor”), and MRD Operating LLC, a Delaware limited liability company (“Customer”). Processor and Customer are each referred to herein as a “Party,” and collectively as,
the “Parties.” Defined terms used but not defined herein have the meaning given to them in the Agreement (as defined below). 
  

WHEREAS, the Parties entered into that certain Amended and Restated Gas Processing Agreement, dated as of April 14, 2015 (the
“Agreement”), pursuant to which Processor agreed to provide certain processing services for Customer; and 
  

WHEREAS, the Parties desire to amend the Agreement in accordance with Section 19.20 thereof as set forth herein. 

 
 NOW THEREFORE, in consideration of the premises of
this Amendment and the agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the Parties hereby agree as follows: 

 
 1. Amendment to Article I. Article I of the Agreement
is hereby amended by adding thereto in alphabetical order each of the following definitions, which shall read in full as follows: 
  

“GPM” means the quantity of Gallons of theoretically recoverable NGL Components contained in an Mcf of Gas, as
calculated from chromatographic analysis or other method acceptable in the industry” 
  
 “NGL Components” means the individual hydrocarbon components of NGL’s including ethane, propane, iso butane, normal butane and natural gasoline (pentanes and heavier
hydrocarbons).” 
  
 2. Amendment to
Section 3.1(e). Section 3.1(e) of the Agreement is hereby amended by adding the following sentence to the end of such Section: 
  

Notwithstanding the foregoing, the Parties acknowledge and agree that each Plant will be designed to accept a maximum volume of Gas equal
to 230,000 MMBtu per Day, assuming a Gross Heating Value of 1,150 Btu per cubic foot or minimum NGL Components of 2.6 GPM.” 
  

3. Governing Law. This Amendment shall be governed, interpreted and construed in accordance with the laws of the State of
Texas without regard to the conflicts of laws provisions thereof. 

 4. Counterpart Execution. This Amendment may be executed in any number of
counterparts, each of which shall be considered an original, and all of which shall be considered one and the same instrument. Any signature delivered by a Party by facsimile transmission or electronically shall be deemed an original signature.

  
 5. Integration with Agreement. This
Amendment shall be and hereby is incorporated into and forms a part of the Agreement. Except as expressly provided herein, all terms and conditions of the Agreement shall remain in full force and effect. 

 
 [signature page follows] 

  
 2 

 IN WITNESS WHEREOF, each of the Parties has duly executed this Amendment as of the date
first written above. 
  

			
	MRD Operating LLC
		
	By:	 	 Memorial Resource Development Corp.,
 its sole member

		
	By:	 	 /s/ Kyle N. Roane

	Name:	 	Kyle N. Roane
	Title:	 	Senior Vice President
	
	PennTex North Louisiana, LLC
		
	By:	 	 /s/ Robert O. Bond

	Name:	 	Robert O. Bond
	Title:	 	Chief Operating Officer

  
 [Signature
Page to Amendment No. 1 to Amended and Restated Gas Processing Agreement]EX-10.16

 Exhibit 10.16 

 
 AMENDMENT NO. 1 TO 

GAS GATHERING AGREEMENT 
  

This Amendment No. 1 to Gas Gathering Agreement, dated as of May 20, 2015 (this
“Amendment”), is entered into by and among PennTex North Louisiana, LLC, a Delaware company and successor in interest to PennTex North Louisiana Operating, LLC (“Gatherer”), and MRD Operating LLC, a
Delaware limited liability company (“Customer”). Gatherer and Customer are each referred to herein as a “Party,” and collectively as, the “Parties.” Defined terms used but not
defined herein have the meaning given to them in the Agreement (as defined below). 
  
 WHEREAS, the Parties entered into that certain Gas Gathering Agreement, dated as of April 14, 2015 (the “Agreement”), to provide for the
gathering, compression, dehydration and/or treating of Customer’s Gas on Gatherer’s natural gas gathering system and related facilities; and  

 
 WHEREAS, the Parties desire to amend the Agreement in
accordance with Article XV thereof as set forth herein. 
  
 NOW THEREFORE, in consideration of the premises of this Amendment and the agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, and intending to be legally bound hereby, the Parties hereby agree as follows: 
  
 1. Amendment to Article I. Article I of the Agreement is hereby amended by adding thereto in alphabetical order each of the following definitions, which shall read in full as follows:
 
  
 “Modification Final
AFE” shall mean, with respect to a Modification undertaken by Gatherer at Customer’s expense pursuant to Article II, an amount equal to the lesser of (i) 110% of Gatherer’s actual, out of pocket costs to install any
facilities required as part of the Modification, including but not limited to Measurement Facilities, hot taps, valving, etc., and (ii) the total amount of the AFE for such Modification. 
  
 “Modification Surcharge” shall mean, with respect to a Modification undertaken by
Gatherer at Customer’s expense pursuant to Article II, an amount, expressed in cents per MMBtu, equal to quotient of (i) the Modification Final AFE for such Modification, divided by (ii) the product of (x) twelve
(12) multiplied by (y) the total volume of Customer Gas (expressed in MMBtu) forecasted to be received at the Point of Receipt to which such Modification relates in the Month immediately following the Month in which such Modification is
completed and made available to Customer (such forecasted volume shall be the volume agreed to by the Parties in preparing the AFE applicable to such Modification). 

 
 “Receipt Point Gathering Fee” shall
have the meaning given such term in Article II. 

 2. Amendment and Restatement of Article II. Article II is hereby
amended by deleting the second sentence of subsection (c) of the section titled “Post-Commencement Date Point of Receipt Facilities” in its entirety and replace it with the following:  

 
 “If Customer elects the foregoing option (y) with
respect to a Modification, commencing on the first day of the Month immediately following the Month in which such Modification is completed and available for service to Customer, Customer shall pay Gatherer a fee each Month (the “Receipt Point
Gathering Fee”) equal to the product of (i) the Modification Surcharge per MMBtu applicable to such Modification, and (ii) the volume of Customer Gas (in MMBtu) received by Gatherer during such Month at the Point of Receipt to which
such Modification relates. Customer shall pay the Receipt Point Gathering Fee with respect to a Modification until the aggregate amount of all such fees paid by Customer for such Modification equals the Modification Final AFE for such
Modification” 
  
 3. Amendments to Article
VIII. 
  

	 	(i)	 	The Section titled “Fees” in Article VIII of the Agreement is hereby amended by adding thereto a new clause (e), which shall read in full as follows:

  

	 	“(e)	 	Receipt Point Gathering Fee. To the extent applicable, Customer shall pay Gatherer the Receipt Point Gathering Fee with respect to Modifications as required
pursuant to Article II(c) of the section titled “Post-Commencement Date Point of Receipt Facilities.” 

  

	 	(ii)	 	The Section titled “Invoices and Statements” in Article VIII of the Agreement is hereby amended by adding a sentence to end thereof to read as follows:

  
 “If any Receipt Point
Gathering Fees are incurred during a Month, Gatherer’s statement for such Month shall include a breakdown of each Receipt Point to which such fees applied during such Month and the aggregate amount of the Receipt Point Gathering Fees applicable
to such Receipt Point for such Month.” 
  

4. Governing Law. This Amendment shall be governed, interpreted and construed in accordance with the laws of the
State of Texas without regard to the conflicts of laws provisions thereof.  
  
 5. Counterpart Execution. This Amendment may be executed in any number of counterparts, each of which shall be considered an original, and all of which shall be considered one and the
same instrument. Any signature delivered by a Party by facsimile transmission or electronically shall be deemed an original signature. 
  

6. Integration with Agreement. This Amendment shall be and hereby is incorporated into and forms a part of the
Agreement. Except as expressly provided herein, all terms and conditions of the Agreement shall remain in full force and effect. 
  

[signature page follows] 

  
 2 

 IN WITNESS WHEREOF, each of the Parties has duly executed this Amendment as of the date
first written above. 
  

			
	MRD Operating LLC
		
	 By:
	 	 Memorial Resource Development Corp.,
 ITS SOLE MEMBER

		
	 By:
	 	 /s/ Kyle N. Roane

	 Name:
	 	 Kyle N. Roane

	 Title:
	 	 Senior Vice President

  

			
	PennTex North Louisiana, LLC
		
	 By:
	 	 /s/ Robert O. Bond

	 Name:
	 	 Robert O. Bond

	 Title:
	 	 Chief Operating Officer

  
  

  
 [Signature
Page to Amendment No. 1 to Gas Gathering Agreement]ex10-1.htm

Exhibit 10.1

 

WARRANT EXCHANGE AGREEMENT

 

THIS WARRANT EXCHANGE AGREEMENT (this “Agreement”) is dated as of May 18, 2015, by and between Catasys, Inc., a Delaware corporation with offices located at 11601 Wilshire Blvd., Suite 950, Los Angeles, California 90025 (the “Company”), and each of the warrant holders identified on the signature pages hereto (each, the “Investor,” and collectively, the “Investors”).

 

WHEREAS:

 

A.     The Investors hold warrants to purchase up to certain shares of common stock, par value $0.0001 per share, of the Company (the “Common Stock”), as set forth next to each Investor’s name on Schedule I attached hereto, at an exercise price of $0.58 per share (the “Warrants), as set forth next to such Investor’s name on Schedule I attached hereto. 

 

B.     The Company wishes to eliminate Warrants to eliminate the treatment of such Warrants as a stockholders’ liability in the Company’s financial statements. 

 

C.     The Company and the Investor desire to enter into this Agreement, pursuant to which the Company shall, exchange each Warrant for one share of the Company’s Common Stock (collectively, the “Shares”). 

 

NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants hereinafter contained, the parties hereto agree as follows:

 

1.     EXCHANGES.

 

1.1     Exchange. Immediately upon the execution of this Agreement by the Investors and the Company (the “Effective Date”), the Investors shall be entitled to receive Shares in exchange for the Warrants currently held by each Investor, as set forth next to such Investor’s name on Schedule I attached hereto upon delivery of the Warrants. Each Investor agrees to promptly deliver his Warrants after the execution of this Agreement. 

 

1.2     Delivery. In exchange for the Warrants, the Company shall within ten (10) Trading Days of receipt by the Company of the Investor’s original certificates evidencing the Warrants, (i) deliver or cause to be delivered to the Investor certificates for the Shares, as set forth next to such Investor’s name on Schedule I attached hereto, or (ii) cause American Stock Transfer & Trust Company, LLC (together with any subsequent transfer agent, the “Transfer Agent”) through the Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program, to credit the Shares to the Investor’s or its designee’s balance account with DTC through its Deposit/Withdrawal at Custodian system.

 

2. REPRESENTATIONS AND WARRANTIES.

 

2.1     Investor Representations and Warranties. The Investor hereby represents and warrants to the Company as follows:

 

(a)     Organization; Authority. The Investor is either an individual or an entity duly incorporated or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation with full capacity, right, corporate, partnership, limited liability company or similar power and authority, as applicable, to enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder. The execution and delivery of this Agreement and performance by the Investor of the transactions contemplated by this Agreement have been duly authorized by all necessary corporate, partnership, limited liability company or similar action, as applicable, on the part of the Investor. This Agreement has been duly executed by the Investor, and when delivered by the Investor in accordance with the terms hereof, will constitute the valid and legally binding obligation of the Investor, enforceable against it in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law. 

 

 

1

 

 

(b)     Reliance on Exemptions. The Investor understands that the Shares are being offered and sold to in reliance upon specific exemptions from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”) and state securities laws and that the Company is relying upon the truth and accuracy of, and the Investor’s compliance with, the representations, warranties, covenants, agreements, acknowledgments and understandings of the Investor contained in this Agreement in order to determine the availability of such exemptions and the eligibility of the Investor to acquire the Shares.

 

(c)     Investor Status. At the time the Investor was offered the Shares hereunder: (i) it was, and as of the date hereof it is an “accredited investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act, (ii) it was, and as of the date hereof it is a “qualified institutional buyer” as defined in Rule 144A under the Securities Act. The Investor is not required to be registered as a broker-dealer under Section 15 of the Exchange Act. 

 

(d)     Experience of the Investor. The Investor, either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Shares, and has so evaluated the merits and risks of such investment. The Investor is able to bear the economic risk of an investment in the Shares and, at the present time, is able to afford a complete loss of such investment. 

 

(e)     Offer Process. The Investor acknowledges that the Investor was advised that the Investor would have up to 20 business days to accept the offer to exchange Investors’ Warrants.

 

(f)     Free and Clear. The Warrants delivered to the Company pursuant to the Agreement will be delivered to the Company free and clear of any and all liens, proxies, agreements and other encumbrances. 

 

2.2     Company Representations and Warranties. The Company represents and warrants to the Investor as follows:

 

(a)     Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of this Agreement by the Company and the consummation by it of the transactions contemplated have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, the Board of Directors or the Company’s stockholders in connection herewith. This Agreement has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law. 

 

 

2

 

 

(b)     No Conflicts. The execution, delivery and performance by the Company of this Agreement, the issuance and sale of the securities hereunder and the consummation by it of the transactions contemplated hereby do not and will not: (i) conflict with or violate any provision of the Company’s certificate or articles of incorporation, bylaws or other organizational or charter documents, (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in the creation of any lien upon any of the properties or assets of the Company, or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company debt or otherwise) or other understanding to which the Company is a party or by which any property or asset of the Company is bound or affected, or (iii) conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company is subject, or by which any property or asset of the Company is bound or affected; except in the case of each of clauses (ii) and (iii), such as could not have or reasonably be expected to result in a material adverse effect. 

 

(c)     Issuance of the Securities. The securities to be issued hereunder are duly authorized and, when issued and paid for in accordance with this Agreement, will be duly and validly issued, fully paid and nonassessable, free and clear of all liens imposed by the Company.

 

3. LOCK-UP.

 

In conjunction with the execution of this Agreement, each Investor shall execute a lock-up agreement with respect to the Shares, in substantially the form attached hereto as Exhibit A. 

 

4. MISCELLANEOUS.

 

4.1     No Commissions. Neither the Company nor the Investor has paid or given, or will pay or give, to any person, any commission or other remuneration, directly or indirectly, in connection with the transactions contemplated by this Agreement.

 

4.2     Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the meaning or interpretation of any of the terms or provisions of this Agreement. 

 

4.3     Amendment. This Agreement may only be amended by a written instrument executed by each of the parties hereto.

 

4.4     Execution in Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and delivered to each of the other parties hereto. Delivery of a signed counterpart of this Agreement by facsimile or email/pdf transmission shall constitute valid and sufficient delivery thereof.

 

 

 

[The remainder of the page is intentionally left blank]

 

 

3

 

 

IN WITNESS WHEREOF, the Investor and the Company have caused their respective signature pages to this Agreement to be duly executed as of the date first written above.

 

	 	COMPANY:	 
	 	 	 
	
 
	
CATASYS, INC. 
	
 

	 	 	 
	
 
	
By:  
	
 /s/ Richard Anderson
	
 

	
 
	
 
	
Name:  
	
Richard Anderson
	
 

	
 
	
 
	
Title:  
	
President and Chief Operating Officer
	
 

 

 

4

 

 

      IN WITNESS WHEREOF, the Investor and the Company have caused their respective signature pages to this Agreement to be duly executed as of the date first written above.

 

 

Name of Investor: ________________________________________________________

 

Signature of Authorized Signatory of Investor: __________________________________

 

Name of Authorized Signatory: ____________________________________________________

 

Title of Authorized Signatory: _____________________________________________________

 

Email Address of Authorized Signatory: _____________________________________________

 

Facsimile Number of Authorized Signatory: __________________________________________

 

Address for Notice to Investor:

 

 

 

Address for Delivery of Certificates to Investor (if not same as address for notice):

 

 

 

or

 

DWAC INSTRUCTIONS

Broker Name and DTC Number:

 

Account Number at DTC Participant

(if applicable):

 

 

 

 

Shares of Common Stock:

 

 

 

5

 

 

Schedule I

 

	  	
Existing Warrants
	 
	 	 	 
	  	
Investor
	
Date of 

Original 

Issuance
	
Shares of

Common 

Stock 

Underlying the

Warrants
	
Exercise

Price
	
Expiration

Date
	
Number of 

Shares of 

Common Stock

to be Issued

	  	  	  	  	  	  	  
	
1.
	  	  	  	  	  	  
	
2.
	  	  	  	  	  	  
	
3.
	  	  	  	  	  	  
	
4.
	  	  	  	  	  	  
	
5.
	  	  	  	  	  	  
	
6.
	  	  	  	  	  	  
	
7.
	  	  	  	  	  	  
	
8.
	  	  	  	  	  	  
	
9.
	  	  	  	  	  	  
	
10.
	  	  	  	  	  	  
	
11.
	  	  	  	  	  	  
	
12.
	  	  	  	  	  	  
	
13.
	  	  	  	  	  	  

 

 

6

 

 

Exhibit A

 

Form of Lock-Up Agreement

 

 

 

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00245-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00245-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00245-of-00352.parquet"}]]