Document:

EX-4.2

 Exhibit 4.2 

CENTERPOINT ENERGY RESOURCES CORP. 

(formerly known as NorAm Energy Corp.) 

To 
 THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A. 
 (successor to JPMorgan Chase Bank, National Association (formerly Chase Bank of Texas, National Association)) 

Trustee 
  

 
 SUPPLEMENTAL
INDENTURE NO. 18 
 Dated as of October 1, 2020 
  

 
 $500,000,000
1.75% Senior Notes due 2030 

 CENTERPOINT ENERGY RESOURCES CORP. 

SUPPLEMENTAL INDENTURE NO. 18 

1.75% Senior Notes due 2030 

SUPPLEMENTAL INDENTURE No. 18, dated as of October 1, 2020, between CENTERPOINT ENERGY RESOURCES CORP., a Delaware
corporation formerly known as NorAm Energy Corp. (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. (successor to JPMorgan Chase Bank, National Association (formerly Chase Bank of Texas, National Association)), as
Trustee (the “Trustee”). 
 RECITALS 

The Company has heretofore executed and delivered to the Trustee an Indenture, dated as of February 1, 1998 (the
“Original Indenture” and, as previously and hereby supplemented and amended, the “Indenture”), providing for the issuance from time to time of one or more series of the Company’s Securities. 

The Company has changed its name from “NorAm Energy Corp.” to “CenterPoint Energy Resources Corp.” and all
references in the Indenture to the “Company” or “NorAm Energy Corp.” shall be deemed to refer to CenterPoint Energy Resources Corp. 

Pursuant to the terms of the Indenture, the Company desires to provide for the establishment of a new series of Securities to
be designated as the “1.75% Senior Notes due 2030” (the “Notes”), the form and substance of such Notes and the terms, provisions and conditions thereof to be set forth as provided in the Original Indenture and this
Supplemental Indenture No. 18. 
 Section 301 of the Original Indenture provides that various matters with respect
to any series of Securities issued under the Indenture may be established in an indenture supplemental to the Indenture. 

Subparagraph (7) of Section 901 of the Original Indenture provides that the Company and the Trustee may enter into
an indenture supplemental to the Indenture to establish the form or terms of Securities of any series as permitted by Sections 201 and 301 of the Original Indenture. 

  
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 For and in consideration of the premises and the issuance of the series of
Securities provided for herein, it is mutually covenanted and agreed, for the equal and proportionate benefit of the Holders of the Securities of such series, as follows: 

ARTICLE ONE 
 Relation to
Indenture; Additional Definitions 
 Section 101 Relation to Indenture. This Supplemental Indenture
No. 18 constitutes an integral part of the Original Indenture. 
 Section 102 Additional
Definitions. For all purposes of this Supplemental Indenture No. 18: 
 Capitalized
terms used herein shall have the meaning specified herein or in the Original Indenture, as the case may be; 

“Business Day” means, with respect to any Note, any day other than a Saturday, a Sunday or a
day on which banking institutions in The City of New York are authorized or required by law, regulation or executive order to close. If any Interest Payment Date, Stated Maturity or Redemption Date of a Note falls on a day that is not a
Business Day, the required payment will be made on the next succeeding Business Day with the same force and effect as if made on the relevant date that the payment was due and no interest will accrue on such payment for the period from and after the
Interest Payment Date, Stated Maturity or Redemption Date, as the case may be, to the date of that payment on the next succeeding Business Day. The definition of “Business Day” in this Supplemental Indenture No. 18 and the
provisions described in the preceding sentence shall supersede the definition of Business Day in the Original Indenture and Section 113 of the Original Indenture; 

“Comparable Treasury Issue” has the meaning set forth in Section 402 hereof; 

“Comparable Treasury Price” has the meaning set forth in Section 402 hereof; 

“Consolidated Net Tangible Assets” means the total amount of assets of the Company, including
the assets of its Subsidiaries, less, without duplication: (a) total current liabilities (excluding indebtedness due within 12 months); (b) all reserves for depreciation and other asset valuation reserves, but excluding reserves for
deferred federal income taxes; (c) all intangible assets such as goodwill, trademarks, trade names, patents and unamortized debt discount and expense carried as an asset; and (d) all appropriate adjustments on account of minority interests
of other Persons holding common stock of any Subsidiary, all as reflected in the Company’s most recent audited consolidated balance sheet preceding the date of such determination; 

“Corporate Trust Office” means the principal office of the Trustee at which at any particular
time its corporate trust business shall be administered, which office as of the date hereof is located at: 601 Travis Street, 16th Floor, Houston, Texas 77002, Attention: Global Corporate Trust; telephone: (713)
483-6817; telecopy: (713) 483-7038; 

  
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 “Equity Interests” means any capital stock,
partnership, joint venture, member or limited liability or unlimited liability company interest, beneficial interest in a trust or similar entity or other equity interest or investment of whatever nature; 

“Finance Lease” means a lease that, in accordance with accounting principles generally
accepted in the United States of America, would be recorded as a finance lease on the balance sheet of the lessee, but excluding, for the avoidance of doubt, any operating leases or any other non-finance
leases; 
 The term “indebtedness” as applied to the Company or any Subsidiary, means bonds,
debentures, notes and other instruments or arrangements representing obligations created or assumed by the Company or any such Subsidiary, including any and all: (i) obligations for money borrowed (other than unamortized debt discount or
premium); (ii) obligations evidenced by a note or similar instrument given in connection with the acquisition of any business, properties or assets of any kind; (iii) obligations as lessee under a Finance Lease; and (iv) amendments,
renewals, extensions, modifications and refundings of any such indebtedness or obligation listed in clause (i), (ii) or (iii) above. All indebtedness secured by a lien upon property owned by the Company or any Subsidiary and upon which
indebtedness the Company or any such Subsidiary customarily pays interest, although the Company or any such Subsidiary has not assumed or become liable for the payment of such indebtedness, shall for all purposes hereof be deemed to be indebtedness
of the Company or any such Subsidiary. All indebtedness for borrowed money incurred by other Persons which is directly guaranteed as to payment of principal by the Company or any Subsidiary shall for all purposes hereof be deemed to be indebtedness
of the Company or any such Subsidiary, as applicable, but no other contingent obligation of the Company or any such Subsidiary in respect of indebtedness incurred by other Persons shall for any purpose be deemed to be indebtedness of the Company or
any such Subsidiary; 
 “Independent Investment Banker” has the meaning set forth in
Section 402 hereof; 
 “Interest Payment Date” has the meaning set forth in
Section 204(a) hereof; 
 “Issue Date” has the meaning set forth in Section 204(a)
hereof; 
 “Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment,
deposit arrangement, charge, security interest, encumbrance or lien of any kind whatsoever (including any Finance Lease); 

“Maturity Date” has the meaning set forth in Section 203 hereof; 

“Non-Recourse Debt” means (i) any indebtedness
for borrowed money incurred by any Project Finance Subsidiary to finance the acquisition, improvement, installation, design, engineering, construction, development, completion, maintenance or operation of, or otherwise to pay costs and expenses
relating to or providing financing for, any project, which indebtedness for borrowed money does not provide for recourse against the 

  
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Company or any Subsidiary of the Company (other than a Project Finance Subsidiary and such recourse as exists under a Performance Guaranty) or any property or asset of the Company or any
Subsidiary of the Company (other than Equity Interests in, or the property or assets of, a Project Finance Subsidiary and such recourse as exists under a Performance Guaranty) and (ii) any refinancing of such indebtedness for borrowed money
that does not increase the outstanding principal amount thereof (other than to pay costs incurred in connection therewith and the capitalization of any interest or fees) at the time of the refinancing or increase the property subject to any lien
securing such indebtedness for borrowed money or otherwise add additional security or support for such indebtedness for borrowed money; 

“Notes” has the meaning set forth in the third paragraph of the Recitals hereof; 

“Original Indenture” has the meaning set forth in the first paragraph of the Recitals hereof;

 “Par Call Date” has the meaning set forth in Section 401 hereof; 

“Performance Guaranty” means any guaranty issued in connection with any Non-Recourse Debt that (i) if secured, is secured only by assets of or Equity Interests in a Project Finance Subsidiary, and (ii) guarantees to the provider of such
Non-Recourse Debt or any other person (a) performance of the improvement, installation, design, engineering, construction, acquisition, development, completion, maintenance or operation of, or otherwise
affects any such act in respect of, all or any portion of the project that is financed by such Non-Recourse Debt, (b) completion of the minimum agreed equity or other contributions or support to the
relevant Project Finance Subsidiary, or (c) performance by a Project Finance Subsidiary of obligations to persons other than the provider of such Non-Recourse Debt; 

“Project Finance Subsidiary” means any Subsidiary designated by the Company whose principal
purpose is to incur Non-Recourse Debt and/or construct, lease, own or operate the assets financed thereby, or to become a direct or indirect partner, member or other equity participant or owner in a Person
created for such purpose, and substantially all the assets of which Subsidiary or Person are limited to (x) those assets being financed (or to be financed), or the operation of which is being financed (or to be financed), in whole or in part by
Non-Recourse Debt, or (y) Equity Interests in, or indebtedness or other obligations of, one or more other such Subsidiaries or Persons, or (z) indebtedness or other obligations of the Company or any
Subsidiary or other Persons. At the time of designation of any Project Finance Subsidiary, the sum of the net book value of the assets of such Subsidiary and the net book value of the assets of all other Project Finance Subsidiaries then existing
shall not in the aggregate exceed 10 percent of the Consolidated Net Tangible Assets; 

“Reference Treasury Dealer” has the meaning set forth in Section 402 hereof; 

  
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 “Reference Treasury Dealer Quotations” has
the meaning set forth in Section 402 hereof; 
 “Regular Record Date” has the meaning
set forth in Section 204(a) hereof; 
 “Remaining Term” has the meaning set forth in
Section 402 hereof; 
 “Subsidiary” of any entity means any corporation, partnership,
joint venture, limited liability company, trust or estate of which (or in which) more than 50% of (i) the issued and outstanding capital stock having ordinary voting power to elect a majority of the Board of Directors of such corporation
(irrespective of whether at the time capital stock of any other class or classes of such corporation shall or might have voting power upon the occurrence of any contingency), (ii) the interest in the capital or profits of such limited liability
company, partnership, joint venture or other entity or (iii) the beneficial interest in such trust or estate is at the time directly or indirectly owned or controlled by such entity, by such entity and one or more of its other subsidiaries or
by one or more of such entity’s other subsidiaries; 
 “Treasury Rate” has the meaning
set forth in Section 402 hereof; 
 All references herein to Articles and Sections, unless otherwise
specified, refer to the corresponding Articles and Sections of this Supplemental Indenture No. 18; and 

The terms “herein,” “hereof,” “hereunder” and other words of similar import refer
to this Supplemental Indenture No. 18. 
 ARTICLE TWO 

The Series of Securities 

Section 201 Title of the Securities. The Notes shall be designated as the “1.75% Senior Notes due
2030.” 
 Section 202 Limitation on Aggregate Principal Amount. The Trustee shall authenticate and
deliver the Notes for original issue on the Issue Date in the aggregate principal amount of $500,000,000 upon a Company Order for the authentication and delivery thereof and satisfaction of Sections 301 and 303 of the Original Indenture. Such
order shall specify the amount of the Notes to be authenticated, the date on which the original issue of Notes is to be authenticated and the name or names of the initial Holder or Holders. The aggregate principal amount of Notes that may
initially be outstanding shall not exceed $500,000,000; provided, however, that the authorized aggregate principal amount of the Notes may be increased above such amount by a Board Resolution to such effect. 

Section 203 Stated Maturity. The Stated Maturity of the Notes shall be October 1, 2030 (the
“Maturity Date”). 

  
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 Section 204 Interest and Interest Rates. 

(a) The Notes shall bear interest at a rate of 1.75% per year, from and including October 1, 2020 (the “Issue
Date”) to, but excluding, the Maturity Date. Such interest shall be payable semi-annually in arrears on April 1 and October 1 of each year (each an “Interest Payment Date”),
beginning April 1, 2021 to the persons in whose names the Notes (or one or more Predecessor Securities) are registered at the close of business on March 15 and September 15 (each a “Regular Record Date”) (whether or
not a Business Day), as the case may be, immediately preceding such Interest Payment Date. 
 (b) Any such interest not so
punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and shall either (i) be paid to the Person in whose name such Note (or one or more Predecessor Securities) is registered at the
close of business on the Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of the Notes not less than 10 days prior to such Special Record Date, or (ii) be paid
at any time in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Notes may be listed or traded, and upon such notice as may be required by such exchange or automated
quotation system, all as more fully provided in the Indenture. 
 (c) The amount of interest payable for any period shall be
computed on the basis of a 360-day year of twelve 30-day months. The amount of interest payable for any partial period shall be computed on the basis of a 360-day year of twelve 30-day months and the days elapsed in any partial month. In the event that any date on which interest is payable on a Note is not a Business Day, then a
payment of the interest payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay) with the same force and effect as if made on the date the payment
was originally payable. 
 (d) Any principal and premium, if any, and any installment of interest, which is overdue shall
bear interest at the rate of 1.75% per annum (to the extent permitted by law), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. 

Section 205 Paying Agent; Place of Payment. The Trustee shall initially serve as the Paying Agent for the
Notes. The Company may appoint and change any Paying Agent or approve a change in the office through which any Paying Agent acts without notice, other than notice to the Trustee. The Company or any of its Subsidiaries or any of their
Affiliates may act as Paying Agent. The Place of Payment where the Notes may be presented or surrendered for payment shall be the Corporate Trust Office of the Trustee. At the option of the Company, payment of interest may be made
(i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer in immediately available funds at such place and to such account as may be designated in
writing by the Person entitled thereto as specified in the Security Register. 
 Section 206 Place of Registration
or Exchange; Notices and Demands With Respect to the Notes. The place where the Holders of the Notes may present the Notes for registration of transfer or exchange and may make notices and demands to or upon the Company in respect of the
Notes shall be the Corporate Trust Office of the Trustee. 

  
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 Section 207 Percentage of Principal Amount. The Notes shall
be initially issued at 99.945% of their principal amount, plus accrued interest, if any, from the Issue Date. 

Section 208 Global Securities. The Notes shall be issuable in whole or in part in the form of one or more Global
Securities. Such Global Securities shall be deposited with, or on behalf of, The Depository Trust Company, New York, New York, which shall act as Depositary with respect to the Notes. Such Global Securities shall bear the legends set forth
in the form of Security attached as Exhibit A hereto. 
 Section 209 Form of Securities. The Notes
shall be substantially in the form attached as Exhibit A hereto. 
 Section 210 Securities
Registrar. The Trustee shall initially serve as the Security Registrar for the Notes. 
 Section 211
Defeasance and Discharge; Covenant Defeasance. 
 (a) Article Fourteen of the Original Indenture, including without
limitation Sections 1402 and 1403 thereof (as modified by Section 211(b) hereof), shall apply to the Notes. 
 (b)
Solely with respect to the Notes issued hereby, the first sentence of Section 1403 of the Original Indenture is hereby deleted in its entirety, and the following is substituted in lieu thereof: 

“Upon the Company’s exercise of its option (if any) to have this Section 1403 applied to any Securities or any
series of Securities, as the case may be, (1) the Company shall be released from its obligations under Article Eight and under any covenants provided pursuant to Section 301(20), 901(2) or 901(7) for the benefit of the Holders of such
Securities, including without limitation, the covenants provided for in Article Three of Supplemental Indenture No. 18 to the Indenture, and (2) the occurrence of any event specified in Sections 501(4) (with respect to
Article Eight and to any such covenants provided pursuant to Section 301(20), 901(2) or 901(7)) and 501(7) shall be deemed not to be or result in an Event of Default, in each case with respect to such Securities as provided in this
Section 1403 on and after the date the conditions set forth in Section 1404 are satisfied (hereinafter called “Covenant Defeasance”).” 

Section 212 Sinking Fund Obligations. The Company shall have no obligation to redeem or purchase any Notes
pursuant to any sinking fund or analogous requirement or upon the happening of a specified event or at the option of a Holder thereof. 

  
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 ARTICLE THREE 

Additional Covenants 

Section 301. Maintenance of Properties. The Company shall cause all properties used or useful in the conduct of
its business or the business of any Subsidiary to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and shall cause to be made all necessary repairs, renewals, replacements, betterments and
improvements thereof, all as in the judgment of the Company may be necessary so that the business carried on in connection therewith may be properly conducted at all times; provided, however, that nothing in this Section 301 shall
prevent the Company from discontinuing the operation or maintenance of any of such properties if such discontinuance is, in the judgment of the Company, desirable in the conduct of its business or the business of any Subsidiary. 

Section 302. Payment of Taxes and Other Claims. The Company shall pay or discharge or cause to be paid or
discharged, before the same shall become delinquent, (1) all taxes, assessments and governmental charges levied or imposed upon the Company or any Subsidiary or upon the income, profits or property of the Company or any Subsidiary, and
(2) all lawful claims for labor, materials and supplies which, if unpaid, might by law become a lien upon the property of the Company or any Subsidiary; provided, however, that the Company shall not be required to pay or discharge
or cause to be paid or discharged any such tax, assessment, charge or claim whose amount, applicability or validity is being contested in good faith by appropriate proceedings. 

ARTICLE FOUR 
 Optional Redemption
of the Notes 
 Section 401 Redemption Price. The Notes shall be redeemable, at the option of the Company, at
any time and from time to time, in whole or in part, on any date prior to July 1, 2030 (the “Par Call Date”), at a price equal to the greater of (i) 100% of the principal amount of the Notes to be redeemed or (ii) the
sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed that would be due if the Notes matured on the Par Call Date but for the redemption (not including any portion of such payments of
interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the
applicable Treasury Rate plus 20 basis points, plus, in each case, accrued and unpaid interest on the principal amount being redeemed, if any, to, but excluding, the Redemption Date. On or after the Par Call Date, the Company may redeem, at its
option, the Notes at any time or from time to time, in whole or in part, by paying 100% of the principal amount of the Notes to be redeemed plus accrued and unpaid interest on the principal amount being redeemed, if any, to, but excluding, the
Redemption Date. The Trustee shall have no responsibility for the calculation of such amount. 

  
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 Section 402 Calculation. The Treasury Rate will be calculated by
the Independent Investment Banker on the third Business Day preceding the Redemption Date. For purposes of this Article Four, the following terms shall mean as follows: 

“Treasury Rate” means, with respect to any Redemption Date, the yield calculated on the third Business Day
preceding the Redemption Date, as follows: for the latest day that appears in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily) - H.15” (or
any successor publication) under the caption “Treasury Constant Maturities—Nominal”, the Independent Investment Banker shall select two yields – one for the maturity immediately before and one for the maturity immediately after
the remaining maturity of the Notes to be redeemed (assuming the Notes matured on the Par Call Date) – and shall interpolate on a straight-line basis using such yields; if there is no such maturity either before or after, the Independent
Investment Banker shall select the maturity closest to the Par Call Date that appears on the release; or if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the
rate per annum equal to the semiannual equivalent yield to maturity of the applicable Comparable Treasury Issue, calculated by the Independent Investment Banker using a price for the Comparable Treasury Issue (expressed as a percentage of its
principal amount) equal to the Comparable Treasury Price for such Redemption Date. 
 “Comparable Treasury
Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having an actual or interpolated maturity comparable to the remaining term (“Remaining Term”) of the Notes to be redeemed (assuming for
this purpose that the Notes matured on the Par Call Date) that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the
Remaining Term of such Notes. 
 “Comparable Treasury Price” means (1) the average of four Reference
Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the
average of all such quotations. 
 “Independent Investment Banker” means one of the Reference Treasury
Dealers appointed by the Company. 
 “Reference Treasury Dealer” means each of (1) Barclays Capital
Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Mizuho Securities USA LLC and each of their respective affiliates or successors, each of which is a primary U.S. government securities dealer in the United States of America (a
“Primary Treasury Dealer”), provided, however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the Company shall substitute therefor another Primary Treasury Dealer and (2) any other Primary Treasury
Dealer selected by the Company after consultation with the Independent Investment Banker. 
 “Reference Treasury
Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in
each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

  
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 Section 403 Partial Redemption. If fewer than all of the
Notes are to be redeemed by the Company pursuant to this Article Four, not more than 60 days prior to the Redemption Date, the particular Notes or portions thereof called for redemption will be selected from the outstanding Notes not previously
called by such method as the Trustee deems fair and appropriate. The Trustee may select for redemption Notes and portions of Notes in amounts of $2,000 or whole multiples of $1,000. A new Note in principal amount equal to the unredeemed portion
of the original Note shall be issued upon the cancellation of the original Note. In the case of a partial redemption of Notes registered in the name of Cede & Co., the Notes to be redeemed will be determined in accordance with the
procedures of The Depository Trust Company. 
 Section 404 Notice of Optional Redemption. The Trustee, at
the written direction of the Company, will send a notice of redemption prepared by the Company to each holder of Notes to be redeemed by first-class mail (or in accordance with the procedures of The Depository Trust Company with respect to Notes
registered in the name of Cede & Co.) at least 15 and not more than 60 days prior to the date fixed for redemption. Unless the Company defaults on payment of the redemption price, interest will cease to accrue on the Notes or portions
thereof called for redemption on the Redemption Date. If any Note is to be redeemed in part only, the notice of redemption shall state the portion of the principal amount to be redeemed. 

ARTICLE FIVE 
 Remedies 

Section 501 Additional Event of Default; Acceleration of Maturity. 

(a) Solely with respect to the Notes issued hereby, Section 501(7) of the Original Indenture is hereby deleted in its
entirety, and the following is substituted in lieu thereof as an Event of Default in addition to the other events set forth in Section 501 of the Original Indenture: 

“(7) the default by the Company or any Subsidiary, other than a Project Finance Subsidiary, in the
payment, when due, after the expiration of any applicable grace period, of principal of indebtedness for money borrowed, other than Non-Recourse Debt, in the aggregate principal amount then outstanding of
$125 million or more, or acceleration of any indebtedness for money borrowed in such aggregate principal amount so that it becomes due and payable prior to the date on which it would otherwise have become due and payable and such acceleration
is not rescinded or such default is not cured within 30 days after there has been given, by registered or certified mail, to the Company by the Trustee or to the Company and the Trustee by the holders of at least 33% in principal amount of the
Notes written notice specifying such default and requiring the Company to cause such acceleration to be rescinded or such default to be cured and stating that such notice is a “Notice of Default” under the Indenture;”. 

  
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 (b) Solely with respect to the Notes issued hereby, the first paragraph of
Section 502 of the Original Indenture is hereby deleted in its entirety, and the following is substituted in lieu thereof: 

“If an Event of Default (other than an Event of Default specified in Section 501(5) or 501(6)) with
respect to the Notes at the time Outstanding occurs and is continuing, then in every such case the Trustee or the Holders of not less than 33% in principal amount of the Notes Outstanding may declare the principal amount of all the Notes to be due
and payable immediately, by a notice in writing to the Company (and to the Trustee if given by Holders), and upon any such declaration such principal amount (or specified amount) shall become immediately due and payable. If an Event of Default
specified in Section 501(5) or 501(6) with respect to the Notes at the time Outstanding occurs and is continuing, the principal amount of all the Notes shall automatically, and without any declaration or other action on the part of the Trustee
or any Holder, become immediately due and payable.” 
 Section 502 Amendment of Certain
Provisions. Solely with respect to the Notes issued hereby, references to “25%” in Article Five of the Indenture are hereby deleted in their entirety and “33%” is substituted in lieu thereof. 

ARTICLE SIX 
 Miscellaneous
Provisions 
 Section 601 The Indenture, as supplemented and amended by this Supplemental Indenture No. 18, is in
all respects hereby adopted, ratified and confirmed. 
 Section 602 This Supplemental Indenture No. 18 may be
executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. The words “execution,” “executed,” “signed,” signature,”
and words of like import in this Supplemental Indenture No. 18 shall include images of manually executed signatures transmitted by facsimile, email or other electronic format (including, without limitation, “pdf,” “tif” or
“jpg”) and other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures and electronic records (including, without limitation, any contract or other record created, generated, sent,
communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law,
including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable law, including, without limitation, any state law based on the Uniform Electronic
Transactions Act or the Uniform Commercial Code. Without limitation to the foregoing, and anything in this Supplemental Indenture No. 18 to the contrary notwithstanding, (a) any Officers’ Certificate, Company Order, Opinion of
Counsel, Security, certificate of authentication appearing on or attached to any Security or other certificate, Opinion of Counsel, instrument, agreement or other document delivered pursuant to this Supplemental Indenture No. 18 may be
executed, attested and transmitted by any of the foregoing electronic means and formats, (b) all references 

  
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in Section 303 or elsewhere in the Indenture to the execution, attestation or authentication of any Security or any certificate of authentication appearing on or attached to any Security by
means of a manual or facsimile signature shall be deemed to include signatures that are made or transmitted by any of the foregoing electronic means or formats, and (c) any requirement in Section 303 or elsewhere in the Indenture that any
signature be made under a corporate seal (or facsimile thereof) shall not be applicable to the Securities of such series. 

Section 603 THIS SUPPLEMENTAL INDENTURE NO. 18 AND EACH NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF THE
STATE OF NEW YORK AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF. 

Section 604 If any provision in this Supplemental Indenture No. 18 limits, qualifies or conflicts with another
provision hereof which is required to be included herein by any provisions of the Trust Indenture Act, such required provision shall control. 

Section 605 In case any provision in this Supplemental Indenture No. 18 or the Notes shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental
Indenture No. 18 to be duly executed, as of the day and year first written above. 
  

			
	 CENTERPOINT ENERGY RESOURCES CORP.

		
	 By:
	 	  

		 	 Robert B. McRae

		 	 Vice President and Treasurer

  

	
	 Attest:

	
	  

	 Vincent A. Mercaldi

	 Corporate Secretary

	
	 (SEAL)

  

			
	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

	 As Trustee

		
	 By:
	 	  

		 	 Authorized Signatory

  
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 Exhibit A 

[FORM OF FACE OF SECURITY] 
 [IF
THIS SECURITY IS TO BE A GLOBAL SECURITY -] THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE OF A DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR
SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A
NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY. 
 [FOR AS LONG AS THIS GLOBAL SECURITY IS DEPOSITED WITH
OR ON BEHALF OF THE DEPOSITORY TRUST COMPANY IT SHALL BEAR THE FOLLOWING LEGEND.] UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO CENTERPOINT
ENERGY RESOURCES CORP. 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 AN INTEREST HEREIN. 
 CENTERPOINT ENERGY RESOURCES CORP. 

1.75% Senior Notes due 2030 
  

			
	 Original Interest Accrual Date: October 1, 2020

Stated Maturity: October 1, 2030

Interest Rate: 1.75%
 Interest
Payment Dates: April 1 and October 1
 Initial Interest Payment Date: April 1, 2021

Regular Record Dates: March 15 and September 15 immediately preceding the applicable Interest Payment Date
	  	 Redeemable: Yes [X] No [    ]

Redemption Date: At any time.

Redemption Price: 1) On any date prior to July 1, 2030 (the “Par Call Date”) at a price equal to the greater of (i) 100% of
the principal amount of this Security or the portion hereof to be redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on this Security, or the portion thereof to be redeemed, that would
be due if this Security matured on the Par Call Date but for the redemption (not including any portion of such payments of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis at the applicable Treasury
Rate

			
		  	 plus 20 basis points; plus, in each case, accrued and unpaid interest on the principal amount being redeemed to, but
excluding, the Redemption Date; or 2) on or after the Par Call Date, at a price equal to 100% of the principal amount of this Security or the portion thereof to be redeemed plus accrued and unpaid interest on the principal amount being redeemed to,
but excluding, the Redemption Date.

 This Security is not an Original Issue Discount Security 

within the meaning of the within-mentioned Indenture. 
  

 
  

			
	 Principal Amount
	  	Registered No. T-[     ]
	 $_______________*
	  	CUSIP 15189Y AF3

 CENTERPOINT ENERGY RESOURCES CORP., a corporation duly organized and existing under the laws of the State of
Delaware, formerly known as NorAm Energy Corp. (herein called the “Company,” which term includes any successor Person under the Indenture referred to below), for value received, hereby promises to pay to 

***CEDE & Co.*** 
 , or
its registered assigns, the principal sum
of                                         
                        DOLLARS on the Stated Maturity specified above, and to pay interest thereon from the Original Interest Accrual
Date specified above or from the most recent Interest Payment Date to which interest has been paid or duly provided for, semi-annually in arrears on the Interest Payment Dates specified above in each year, commencing on April 1, 2021, and at
Maturity, at the Interest Rate per annum specified above, until the principal hereof is paid or made available for payment, provided that any principal and premium, and any such installment of interest, which is overdue shall bear interest at
the rate of 1.75% per annum (to the extent permitted by applicable law), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. The amount of interest payable for any
period shall be computed on the basis of twelve 30-day months and a 360-day year. The amount of interest payable for any partial period shall be computed on the basis of
a 360-day year of twelve 30-day months and the days elapsed in any partial month. In the event that any date on which interest is payable on this Security is not a
Business Day, then a payment of the interest payable on such date will be made on the next succeeding day which is a Business Day (and without any interest or other payment in respect of any such delay) with the same force and effect as if made on
the date the payment was originally payable. A “Business Day” shall mean any day other than a Saturday, a Sunday or a day on which banking institutions in The City of New York are authorized or required by law, regulation or 

 

	* 	 Reference is made to Schedule A attached hereto with respect to decreases and increases in the aggregate
principal amount of Securities evidenced hereby. 

 
executive order to close. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose
name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be March 15 or September 15 (whether or not a Business Day), as the case may be,
next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date and shall either be paid to the Person in whose name this
Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this
series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange or automated quotation system on which the Securities of this series
may be listed or traded, and upon such notice as may be required by such exchange or automated quotation system, all as more fully provided in said Indenture. 

Payment of the principal of (and premium, if any) and any such interest on this Security will be made at the Corporate Trust
Office of the Trustee, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option of the Company payment of interest
may be made (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer in immediately available funds at such place and to such account as may be
designated in writing by the Person entitled thereto as specified in the Security Register. 
 Reference is hereby made to
the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 

Unless the certificate of authentication hereon has been executed by the Trustee referred to on the reverse hereof by manual
signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed. 
  

							
	 Dated: October 1, 2020
	 		 	 CENTERPOINT ENERGY RESOURCES CORP.

				
		 		 	By:	 	                                

		 		 	 Name: Robert B. McRae

		 		 	 Title: Vice President and Treasurer

  

	
	 (SEAL)

	
	 Attest:

	
	   

	 Name: Vincent A. Mercaldi

	 Title: Corporate Secretary

 CERTIFICATE OF AUTHENTICATION 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

 

							
		 		 	 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,

		 		 	 As Trustee

	 Dated: October 1, 2020
	 		 		 	
		 		 	By:	 	                                
            
		 		 	Authorized Signatory

 SCHEDULE A 

The initial aggregate principal amount of Securities evidenced by the Certificate to which this Schedule is attached is
$                                         
                       . The notations on the following table evidence decreases and increases in the aggregate principal amount of
Securities evidenced by such Certificate. 
  

									
	 Date of Adjustment
	  	 Decrease in Aggregate
Principal Amount
of
Securities
	  	 Increase in Aggregate
Principal Amount
of
Securities
	  	 Aggregate Principal
Amount of Securities
Remaining After

Such Decrease or
 Increase
	  	 Notation by

Security

Registrar

 [FORM OF REVERSE SIDE OF SECURITY] 

CENTERPOINT ENERGY RESOURCES CORP. 

1.75% SENIOR NOTES DUE 2030 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”),
issued and to be issued in one or more series under an Indenture, dated as of February 1, 1998 (herein called the “ Indenture,” which term shall have the meaning assigned to it in such instrument), between the Company and The Bank of
New York Mellon Trust Company, N.A. (successor to JPMorgan Chase Bank, National Association (formerly Chase Bank of Texas, National Association)), as Trustee (herein called the “Trustee,” which term includes any successor trustee under the
Indenture), to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the
Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof, initially limited in aggregate principal amount to $500,000,000;
provided, however, that the authorized aggregate principal amount of the Securities may be increased above such amount by a Board Resolution to such effect. 

This Security shall be redeemable, at the option of the Company, at any time or from time to time, in whole or in part, on any
date prior to July 1, 2030 (the “Par Call Date”) at a price equal to the greater of (i) 100% of the principal amount of this Security (or the portion hereof to be redeemed) or (ii) the sum of the present values of the
remaining scheduled payments of principal and interest on the Securities to be redeemed that would be due if this Security (or the portion hereof to be redeemed) matured on the Par Call Date but for the redemption (not including any portion of such
payments of interest accrued to the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months)
at the applicable Treasury Rate plus 20 basis points plus, in each case, accrued and unpaid interest on the principal amount being redeemed, if any, to, but excluding, the Redemption Date. On or after the Par Call Date, the Company may redeem this
Security, at any time or from time to time, in whole or in part, by paying 100% of the principal amount of this Security (or such portion to be redeemed) plus accrued and unpaid interest on the principal amount being redeemed, if any, to, but
excluding, the Redemption Date. The Trustee shall have no responsibility for the calculation of such amount. 
 The Treasury
Rate will be calculated by the Independent Investment Banker on the third Business Day preceding the Redemption Date. For purposes of calculating the Redemption Price, the following terms shall mean as follows: 

“Treasury Rate” means, with respect to any Redemption Date, the yield calculated on the third Business Day preceding
the Redemption Date, as follows: for the latest day that appears in the most recent statistical release published by the Board of Governors of the Federal Reserve System designated as “Selected Interest Rates (Daily) - H.15” (or any
successor publication) under the caption “Treasury Constant Maturities - Nominal”, the Independent Investment Banker shall select two yields – one for the maturity immediately before and one for the maturity immediately

 
after the remaining maturity of this Security (assuming this Security matured on the Par Call Date) – and shall interpolate on a straight-line basis using such yields; if there is no such
maturity either before or after, the Independent Investment Banker shall select the maturity closest to the Par Call Date that appears on the release; or if such release (or any successor release) is not published during the week preceding the
calculation date or does not contain such yields, the rate per annum equal to the semiannual equivalent yield to maturity of the Comparable Treasury Issue, calculated by the Independent Investment Banker using a price for the Comparable Treasury
Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 

“Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent Investment Banker as having
an actual or interpolated maturity comparable to the remaining term (“Remaining Term”) of this Security to be redeemed (assuming for this purpose that the Securities matured on the Par Call Date) that would be utilized, at the time of
selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the Remaining Term of this Security. 

“Comparable Treasury Price” means (1) the average of four Reference Treasury Dealer Quotations for such
Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations.

 “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the Company. 

“Reference Treasury Dealer” means each of (1) Barclays Capital Inc., Citigroup Global Markets Inc., J.P. Morgan
Securities LLC and Mizuho Securities USA LLC and each of their respective affiliates or successors, each of which is a primary U.S. government securities dealer in the United States of America (a “Primary Treasury Dealer”), provided,
however, that if any of the foregoing shall cease to be a Primary Treasury Dealer, the Company shall substitute therefor another Primary Treasury Dealer and (2) any other Primary Treasury Dealer selected by the Company after consultation with
the Independent Investment Banker. 
 “Reference Treasury Dealer Quotations” means, with respect to each Reference
Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in
writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 

In the event of redemption of this Security in part only, a new Security or Securities of this series and of like tenor for
the unredeemed portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 The
Securities of this series are not entitled to the benefit of any sinking fund. 

 The Indenture contains provisions for satisfaction and discharge of the
entire indebtedness of this Security upon compliance by the Company with certain conditions set forth in the Indenture. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or certain
restrictive covenants and Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 

If an Event of Default with respect to Securities of this series shall occur and be continuing, the principal of the
Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights
and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the
Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of
the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this
Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu hereof, whether or not notation of such
consent or waiver is made upon this Security. 
 As provided in and subject to the provisions of the Indenture, the Holder
of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously given the Trustee
written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 33% in principal amount of the Securities of this series at the time Outstanding shall have made written request to the
Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Securities of this series at
the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any suit
instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the
obligation of the Company, which is absolute and unconditional, to pay the principal of and any premium and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

 As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on
this Security are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by the Holder hereof or his attorney duly authorized in writing, and
thereupon one or more new Securities of this series and of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. No service charge shall be made for any
such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

Prior to due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company
or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary. 
 The Securities of this series are issuable only in registered form without coupons in minimum denominations of
$2,000 principal amount and integral multiples of $1,000 principal amount in excess thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate
principal amount of Securities of this series and of like tenor of a different authorized denomination, as requested by the Holder surrendering the same. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture.

 THE INDENTURE AND THIS SECURITY SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES THEREOF.Exhibit 10.1

 

Execution Version

 

SUPPORT AGREEMENT

 

THIS SUPPORT AGREEMENT
(this “Agreement”) is dated as of September 26, 2020, by and among each stockholder of WPX Energy, Inc.,
a Delaware corporation (the “Company”), set forth on Schedule A hereto (each, a “Stockholder”
and collectively, the “Stockholders”), and Devon Energy Corporation, a Delaware corporation (“Parent”).

 

W I T N E S S E T H:

 

WHEREAS, concurrently
with the execution and delivery of this Agreement, Parent, the Company and East Merger Sub, Inc., a Delaware corporation and
a wholly-owned Subsidiary of Parent (“Merger Sub”), are entering into an Agreement and Plan of Merger, dated
as of the date hereof (as the same may be amended or supplemented, the “Merger Agreement”), providing that,
among other things, upon the terms and subject to the conditions set forth in the Merger Agreement, the Company will be merged
(the “Merger”) with Merger Sub, and each outstanding share of common stock, par value $0.01 per share, of the
Company (“Company Common Stock”) will be converted into shares of common stock, par value $0.10 per share, of
Parent (“Parent Common Stock”) as provided in the Merger Agreement;

 

WHEREAS, each Stockholder
beneficially owns such number of shares of Company Common Stock set forth opposite such Stockholder’s name on Schedule
A hereto (collectively, such shares of Company Common Stock are referred to herein as the “Subject Shares”);
and

 

WHEREAS, as a condition
and inducement to Parent to enter into the Merger Agreement, Parent has required that the Stockholders enter into this Agreement.

 

NOW, THEREFORE, to
induce Parent to enter into, and in consideration of its entering into, the Merger Agreement, and in consideration of the promises
and the representations, warranties and agreements contained herein and therein, the parties, intending to be legally bound hereby,
agree as follows:

 

1.             Representations
and Warranties of each Stockholder. Each Stockholder hereby represents and warrants to Parent, severally and not jointly, as
of the date hereof as follows:

 

(a)           Due
Organization. Such Stockholder is an entity duly formed under the laws of its jurisdiction of formation and is validly existing
and in good standing under the laws thereof.

 

     

     

    

 

(b)           Authority;
No Violation. Such Stockholder has full organizational power and authority to execute and deliver this Agreement and to perform
its obligations hereunder. The execution and delivery of this Agreement and the performance of its obligations hereunder have been
duly and validly approved by the governing authority of such Stockholder and no other organizational proceedings on the part of
such Stockholder are necessary to approve this Agreement and to perform its obligations hereunder. This Agreement has been duly
and validly executed and delivered by such Stockholder and (assuming due authorization, execution and delivery by Parent) this
Agreement constitutes a valid and binding obligation of such Stockholder, enforceable against such Stockholder in accordance with
its terms, subject to the Enforceability Exceptions. Neither the execution and delivery of this Agreement by such Stockholder,
nor the consummation by such Stockholder of the transactions contemplated hereby, nor compliance by such Stockholder with any of
the terms or provisions hereof, will (x) violate any provision of the governing documents of such Stockholder, (y) violate
any statute, code, ordinance, rule, regulation, judgment, order, writ, decree or injunction applicable to such Stockholder, or
any of its properties or assets, or (z) violate, conflict with, result in a breach of any provision of or the loss of any
benefit under, constitute a default (or an event which, with notice or lapse of time, or both, would constitute a default) under,
result in the termination of or a right of termination or cancellation under, accelerate the performance required by, or result
in the creation of any lien, claim, mortgage, encumbrance, pledge, deed of trust, security interest, equity or charge of any kind
(each, a “Lien”) upon any of the Subject Shares pursuant to any of the terms, conditions or provisions of any
note, bond, mortgage, indenture, deed of trust, license, lease, agreement or other instrument or obligation to which such Stockholder
is a party, or by which it or any of its properties or assets may be bound or affected, except, in the case of this clause (z),
for such matters that would not, individually or in the aggregate, impair the ability of such Stockholder to perform its obligations
under this Agreement.

 

(c)           The
Subject Shares. As of the date of this Agreement, such Stockholder is the beneficial owner of and, together with the applicable
controlling entity or entities of such Stockholder set forth on Schedule A hereto (as applicable, the “Controlling
Entities”), has the sole right to vote and dispose of the Subject Shares set forth opposite such Stockholder’s
name on Schedule A hereto, free and clear of any Liens whatsoever, except for any Liens which arise hereunder, in each case
except as disclosed in any Schedule 13D filed by such Stockholder prior to the date hereof. Other than that certain stockholders
agreement, dated as of March 6, 2020, by and among the Company, Felix Investments Holdings II, LLC, and solely for certain
purposes, EnCap Energy Capital Fund X, L.P., Skye Callantine and Michael Horton (the “Stockholders’ Agreement”),
none of the Subject Shares is subject to any voting trust or other similar agreement, arrangement or restriction, except as contemplated
by this Agreement. Without limiting the generality of the foregoing, other than the Stockholders’ Agreement (i) there
are no agreements or arrangements of any kind, contingent or otherwise, obligating such Stockholder to sell, transfer (including
by tendering into any tender or exchange offer), assign, grant a participation interest in, option, pledge, hypothecate or otherwise
dispose of or encumber, including by operation of law or otherwise (each, a “Transfer”), or cause to be Transferred,
any of the Subject Shares, other than a Transfer, such as a hedging or derivative transaction, with respect to which such Stockholder
(and/or its Controlling Entities) retains its Subject Shares and the sole right to vote, dispose of and exercise dissenters’
rights with respect to its Subject Shares during the Applicable Period (as defined below), and (ii) no Person has any contractual
or other right or obligation to purchase or otherwise acquire any of the Subject Shares. Other than the Subject Shares, such Stockholder
does not own any equity interests or other equity-based securities in the Company or any of its Subsidiaries.

 

    	 	2	 

     

    

 

(d)           Absence
of Litigation. There is no litigation, suit, claim, action, proceeding or investigation pending, or to the knowledge of such
Stockholder, threatened against such Stockholder, or any property or asset of such Stockholder, before any Governmental Entity
that seeks to delay or prevent the consummation of the transactions contemplated by this Agreement.

 

(e)           No
Consents Required. No consent of, or registration, declaration or filing with, any Person or Governmental Entity is required
to be obtained or made by or with respect to such Stockholder in connection with the execution, delivery and performance of this
Agreement and except for any applicable requirements and filings with the SEC, if any, under the Exchange Act and except where
the failure to obtain such consents, approvals, authorizations or permits, or to make such filings or notifications, would not
prevent or delay the performance by such Stockholder of such Stockholder’s obligations under this Agreement in any material
respect.

 

(f)            Reliance.
Such Stockholder understands and acknowledges that Parent is entering into the Merger Agreement in reliance upon such Stockholder’s
execution and delivery of this Agreement.

 

(g)           Stockholder
Has Adequate Information. Such Stockholder is a sophisticated seller with respect to the Subject Shares and has adequate information
concerning the business and financial condition of Parent to make an informed decision regarding the Merger and the transactions
contemplated thereby and has independently and without reliance upon Parent and based on such information as such Stockholder has
deemed appropriate, made its own analysis and decision to enter into this Agreement. Such Stockholder acknowledges that Parent
has not made and does not make any representation or warranty, whether express or implied, of any kind or character except as expressly
set forth in the Merger Agreement and this Agreement. Notwithstanding the foregoing, and for the elimination of doubt, such Stockholder
is not waiving and is expressly preserving any claims that might arise in connection with the Registration Statement contemplated
to be filed in connection with the Merger.

 

    	 	3	 

     

    

 

2.             Representations
and Warranties of Parent. Parent hereby represents and warrants to each Stockholder as of the date hereof as follows:

 

(a)           Due
Organization. Parent is a corporation duly incorporated under the laws of the State of Delaware and is validly existing and
in good standing under the laws thereof.

 

(b)           Authority;
No Violation. Parent has full corporate power and authority to execute and deliver this Agreement. The execution and delivery
of this Agreement have been duly and validly approved by the Board of Directors of Parent and no other corporate proceedings on
the part of Parent are necessary to approve this Agreement. This Agreement has been duly and validly executed and delivered by
Parent and (assuming due authorization, execution and delivery by the Stockholders) this Agreement constitutes a valid and binding
obligation of Parent, enforceable against Parent in accordance with its terms, subject to the Enforceability Exceptions. Neither
the execution and delivery of this Agreement by Parent, nor the consummation by Parent of the transactions contemplated hereby,
nor compliance by Parent with any of the terms or provisions hereof, will (x) violate any provision of the governing documents
of Parent or the certificate of incorporation, bylaws or similar governing documents of any of Parent’s Subsidiaries, (y) violate
any statute, code, ordinance, rule, regulation, judgment, order, writ, decree or injunction applicable to the Parent or any of
Parent’s Subsidiaries, or any of their respective properties or assets, or (z) violate, conflict with, result in a breach
of any provision of or the loss of any benefit under, constitute a default (or an event which, with notice or lapse of time, or
both, would constitute a default) under, result in the termination of or a right of termination or cancellation under, accelerate
the performance required by, or result in the creation of any Lien upon any of the respective properties or assets of Parent or
any of Parent’s Subsidiaries under, any of the terms, conditions or provisions of any note, bond, mortgage, indenture, deed
of trust, license, lease, agreement or other instrument or obligation to which Parent or any of Parent’s Subsidiaries is
a party, or by which they or any of their respective properties or assets may be bound or affected.

 

3.             Covenants
of Each Stockholder. Each Stockholder, severally and not jointly, agrees as follows; provided that all of the following
covenants shall apply solely to actions taken by such Stockholder in its capacity as a stockholder of the Company:

 

(a)           Agreement
to Vote Subject Shares. During the Applicable Period, at any meeting of the stockholders of the Company, however called, or
at any postponement or adjournment thereof, or in any other circumstance upon which a vote or other approval of all or some of
the stockholders of the Company is sought, such Stockholder shall, and shall cause any holder of record of its Subject Shares on
any applicable record date to, vote: (i) in favor of adoption of the Merger Agreement and approval of any other matter that
is required to be approved by the stockholders of the Company in order to effect the Merger; (ii) against any merger agreement
or merger (other than the Merger Agreement and the Merger), consolidation, combination, sale or transfer of a material amount of
assets, reorganization, recapitalization, dissolution, liquidation or winding up of or by the Company or any of its Subsidiaries
that is prohibited by the Merger Agreement (unless, in each case, such transaction is approved in writing by Parent) or any Acquisition
Proposal with respect to the Company; and (iii) against any amendment of the Company’s certificate of incorporation
or bylaws or other proposal or transaction involving the Company or any of its Subsidiaries, which amendment or other proposal
or transaction would in any manner delay, impede, frustrate, prevent or nullify the Merger, the Merger Agreement or any of the
transactions contemplated by the Merger Agreement or change in any manner the voting rights of any outstanding class of capital
stock of the Company. During the Applicable Period, such Stockholder (and/or its Controlling Entities) shall retain at all times
the right to vote all of its Subject Shares in such Stockholder’s sole discretion and without any other limitation on those
matters other than those set forth in this Section 3(a) that are at any time or from time to time presented for
consideration to the Company’s stockholders generally. During the Applicable Period, in the event that any meeting of the
stockholders of the Company is held, such Stockholder shall (or shall cause the holder of record on any applicable record date
to) appear at such meeting or otherwise cause all of its Subject Shares to be counted as present thereat for purposes of establishing
a quorum. During the Applicable Period, such Stockholder further agrees not to commit or agree, and to cause any record holder
of its Subject Shares not to commit or agree, to take any action inconsistent with the foregoing during the Applicable Period.
 “Applicable Period” means the period from and including the date of this Agreement to and including the date
of the termination of this Agreement.

 

    	 	4	 

     

    

 

(b)           No
Transfers. Except as provided in the last sentence of this Section 3(b), such Stockholder agrees not to, and to
cause any record holder of its Subject Shares, not to, in any such case directly or indirectly, during the Applicable Period (i) Transfer
or enter into any agreement, option or other arrangement (including any profit sharing arrangement) with respect to the Transfer
of, any of its Subject Shares (or any interest therein) to any Person, other than the exchange of its Subject Shares for Parent
Common Stock in accordance with the Merger Agreement or (ii) grant any proxies, or deposit any of its Subject Shares into
any voting trust or enter into any voting arrangement, whether by proxy, voting agreement or otherwise, with respect to its Subject
Shares, other than pursuant to this Agreement. Subject to the last sentence of this Section 3(b), such Stockholder
further agrees not to commit or agree to take, and to cause any record holder of any of its Subject Shares not to commit or agree
to take, any of the foregoing actions during the Applicable Period. Notwithstanding the foregoing, such Stockholder shall have
the right to (a) Transfer its Subject Shares to an Affiliate if and only if such Affiliate shall have agreed in writing, in
a manner acceptable in form and substance to Parent, (i) to accept such Subject Shares subject to the terms and conditions
of this Agreement, and (ii) to be bound by this Agreement as if it were “a Stockholder” for all purposes of this
Agreement; provided, however, that no such transfer shall relieve such Stockholder from its obligations under this
Agreement with respect to any Subject Shares or (b) Transfer its Subject Shares in a transaction, such as a hedging or derivative
transaction, with respect to which such Stockholder retains the sole right to vote, dispose of and exercise dissenters’ rights
with respect to its Subject Shares during the Applicable Period; provided that no such transaction shall (x) in any
way limit any of the obligations of such Stockholder under this Agreement, or (y) have any adverse effect on the ability of
the Stockholders to perform their obligations under this Agreement.

 

    	 	5	 

     

    

 

(c)           Reserved.

 

(d)           Adjustment
to Subject Shares. In case of a stock dividend or distribution, or any change in the Company Common Stock by reason of any
stock dividend or distribution, split-up, recapitalization, combination, exchange of shares or the like, the term “Subject
Shares” shall be deemed to refer to and include the Subject Shares as well as all such stock dividends and distributions
and any securities into which or for which any or all of the Subject Shares may be changed or exchanged or which are received in
such transaction.

 

(e)           Non-Solicitation.
Except to the extent that the Company or its Board of Directors is permitted to do so under the Merger Agreement, but subject to
any limitations imposed on the Company or its Board of Directors under the Merger Agreement, such Stockholder agrees, solely in
its capacity as a stockholder of the Company, that it shall not, and shall cause its Affiliates and shall use its reasonable best
efforts to cause its and their respective Representatives not to (i) directly or indirectly initiate or solicit, or knowingly
encourage or facilitate (including by way of furnishing non-public information relating to the Company or any of its Subsidiaries)
any inquiries or the making or submission of any proposal that constitutes, or could reasonably be expected to lead to, an Acquisition
Proposal with respect to the Company, (ii) participate or engage in discussions or negotiations with, or disclose any non-public
information or data relating to the Company or any of its Subsidiaries to any Person that has made an Acquisition Proposal with
respect to the Company or to any Person in contemplation of making an Acquisition Proposal with respect to the Company, or (iii) approve,
endorse or recommend (or publicly propose to approve, endorse or recommend) an Acquisition Proposal with respect to the Company
or enter into any agreement, including any letter of intent, memorandum of understanding, agreement in principle, merger agreement,
acquisition agreement, option agreement, joint venture agreement, partnership agreement or other similar agreement, arrangement
or understanding, (A) constituting or related to, or that is intended to or could reasonably be expected to lead to, any Acquisition
Proposal with respect to the Company or (B) requiring, intending to cause, or which could reasonably be expected to cause
the Company to abandon, terminate or fail to consummate the Merger or any other transaction contemplated by the Merger Agreement.
Each Stockholder will, and will cause its Affiliates and its and their respective Representatives to, immediately cease and cause
to be terminated any discussions or negotiations with any Person conducted heretofore with respect to any Acquisition Proposal
with respect to the Company. Nothing contained in this Section 3(e) shall prevent any Person affiliated with such
Stockholder who is a director or officer of the Company or designated by such Stockholder as a director of officer of the Company
from taking actions in his capacity as a director or officer of the Company, including taking any actions permitted under Section 5.4
of the Merger Agreement.

 

    	 	6	 

     

    

 

4.             Additional
Covenants of the Parties.

 

(a)           On
or prior to the Closing Date, the Stockholders shall take all actions as may be necessary to (A) enter into (i) the stockholders
agreement, substantially in the form attached hereto as Exhibit A (the “New Stockholders Agreement”),
effective as of the Closing Date and (ii) the registration rights agreement, substantially in the form attached hereto as
Exhibit B (the “New Registration Rights Agreement”), effective as of the Closing Date and (B) terminate
that certain registration rights agreement, dated as of March 6, 2020, by and among the Company, Felix Investments Holdings
II, LLC and the other holders from time to time parties thereto.

 

(b)           On
or prior to the Closing Date, the Parent shall take all actions as may be necessary to enter into (i) the New Stockholders
Agreement, effective as of the Closing Date and (ii) the New Registration Rights Agreement, effective as of the Closing Date.

 

5.             Assignment;
No Third-Party Beneficiaries. Except as provided herein, neither this Agreement nor any of the rights, interests or obligations
hereunder shall be assigned by any of the parties without the prior written consent of the other parties hereto, except that Parent
may assign, it its sole discretion, any or all of its rights, interest and obligations hereunder to any direct or indirect wholly-owned
Subsidiary of Parent. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable
by the parties hereto and their respective successors and assigns. Except as otherwise expressly provided herein, this Agreement
(including the documents and instruments referred to herein) is not intended to confer upon any Person other than the parties hereto
any rights or remedies hereunder.

 

6.             Termination.
This Agreement and the covenants and agreements set forth in this Agreement shall automatically terminate (without any further
action of the parties) upon the earliest to occur of: (a) the termination of the Merger Agreement in accordance with its terms;
(b) the Effective Time; (c) as to a Stockholder, the date of any modification, waiver or amendment to the Merger
Agreement effected without such Stockholder’s consent that (y) decreases the amount or changes the form of consideration
payable to all of the stockholders of the Company pursuant to the terms of the Merger Agreement as in effect on the date of this
Agreement or (z) otherwise materially adversely affects the interests of such Stockholder; (d) the mutual written
consent of the parties hereto and (e) the Termination Date. In the event of termination of this Agreement pursuant to this
Section 6, this Agreement shall become void and of no effect with no liability on the part of any party; provided,
however, that no such termination shall relieve any party from liability for any breach hereof prior to such termination.

 

    	 	7	 

     

    

 

7.            General
Provisions.

 

(a)           Amendments.
This Agreement may not be amended except by an instrument in writing signed on behalf of each of the parties hereto.

 

(b)           Notices.
Any notice or other communication required or permitted to be delivered to any party under this Agreement shall be in writing and
shall be deemed properly delivered, given and received (a) on the date of delivery if delivered personally, (b) on the
date of confirmation of receipt (or the first Business Day following such receipt if the transmission is after 5 p.m. Central
Time on such date or if the date is not a Business Day) of transmission by electronic mail, or (c) on the date of confirmation
of receipt (or the first Business Day following such receipt if the date is not a Business Day) if delivered by a nationally recognized
overnight courier service. All notices hereunder shall be delivered to the address or electronic mail set forth beneath the name
of such party below (or to such other address or electronic mail as such party shall have specified in a written notice given to
the other parties hereto):

 

(i)            If
to the Stockholders, to:

 

EnCap Investments L.P. 

1100 Louisiana, Suite 4900 

Houston, Texas 77002 

Facsimile: (713) 659-6130 

Attention:       Douglas
E. Swanson, Jr. 

Email:            dswanson@encapinvestments.com

 

    	 	8	 

     

    

 

With copies (which shall not
constitute notice) to:

 

Vinson &
Elkins LLP

1001 Fannin Street, Suite 2500

Houston, Texas 77002

Attention:           W. Matthew Strock;
Doug McWilliams

Facsimile:           (713) 615-5650;
(713) 615-5725

Email:                  mstrock@velaw.com;
dmcwilliams@velaw.com

 

(ii)            If
to Parent, to:

 

Devon Energy Corporation 

333 West Sheridan Avenue 

Oklahoma City, Oklahoma 73102 

Attention:           Jeffrey
L. Ritenour; Lyndon C. Taylor; Edward Highberger 

 Email:                 Jeff.Ritenour@dvn.com; lyndon.taylor@dvn.com; Edward.Highberger@dvn.com

 

With copies (which shall not
constitute notice) to:

 

Skadden, Arps, Slate, Meagher &
Flom LLP 

1000 Louisiana St., Suite 6800 

Houston, TX 77002 

Attention:           Frank
E. Bayouth 

Email:                 Frank.Bayouth@skadden.com

 

(c)           Interpretation.
When a reference is made in this Agreement to a Section, such reference shall be to a Section in this Agreement unless otherwise
indicated. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning
or interpretation of this Agreement. Wherever the words “include,” “includes” or “including”
are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” The phrases “the
date of this Agreement,” “the date hereof” and terms of similar import, unless the context otherwise requires,
shall be deemed to refer to September 26, 2020.

 

(d)           Counterparts.
This Agreement may be executed in several counterparts, each of which shall be deemed an original and all of which shall constitute
one and the same instrument.

 

(e)           Entire
Agreement. This Agreement (including the documents and the instruments referred to herein) constitutes the entire agreement
among the parties hereto and supersedes all other prior agreements and understandings, both written and oral, among or between
any of the parties hereto with respect to the subject matter hereof.

 

    	 	9	 

     

    

 

(f)            Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard
to principles of conflict of laws. The parties hereto hereby declare that it is their intention that this Agreement shall be regarded
as made under the laws of the State of Delaware and that the laws of said State shall be applied in interpreting its provisions
in all cases where legal interpretation shall be required.

 

(g)           Severability.
If any provision of this Agreement or any part of any such provision is held under any circumstances to be invalid or unenforceable
in any jurisdiction, then (a) the invalidity or unenforceability of such provision or part thereof under such circumstances
and in such jurisdiction shall not affect the validity or enforceability of such provision or part thereof under any other circumstances
or in any other jurisdiction and (b) the invalidity or unenforceability of such provision or part thereof shall not affect
the validity or enforceability of the remainder of such provision or the validity or enforceability of any other provision of this
Agreement; provided that the economic or legal substance of the transactions contemplated hereby is not affected in a materially
adverse manner to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being
enforced, the parties hereto shall negotiate in good faith in general fashion to modify this Agreement so as to effect the original
interest of the parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are
fulfilled to the maximum extent possible.

 

(h)           Waiver.

 

(i)            No
failure on the part of any party to exercise any power, right, privilege or remedy under this Agreement, and no delay on the part
of any party in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver of such power,
right, privilege or remedy; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any
other or further exercise thereof or of any other power, right, privilege or remedy.

 

(ii)            No
party shall be deemed to have waived any claim arising out of this Agreement, or any power, right, privilege or remedy under this
Agreement, unless the waiver of such claim, power, right, privilege or remedy is expressly set forth in a written instrument duly
executed and delivered on behalf of such party; and any such waiver shall not be applicable or have any effect except in the specific
instance in which it is given.

 

    	 	10	 

     

    

 

(i)            Further
Assurances. Each Stockholder will, from time to time, (i) at the request of Parent take, or cause to be taken, all actions,
and do, or cause to be done, and assist and cooperate with the other parties hereto in doing, all things reasonably necessary,
proper or advisable to carry out the intent and purposes of this Agreement and (ii) execute and deliver, or cause to be executed
and delivered, such additional or further consents, documents and other instruments as Parent may reasonably request for the purpose
of effectively carrying out the intent and purposes of this Agreement.

 

(j)            Publicity.
Except as otherwise required by law (including securities laws and regulations) and the regulations of any national stock exchange,
so long as this Agreement is in effect, no Stockholder shall issue or cause the publication of any press release or other public
announcement with respect to, or otherwise make any public statement concerning, the transactions contemplated by this Agreement
or the Merger Agreement, without the consent of Parent, which consent shall not be unreasonably withheld.

 

(k)           Capitalized
Terms. Capitalized terms used but not defined herein shall have the meanings set forth in the Merger Agreement. Notwithstanding
the foregoing, the term “Affiliate” as used in Section 3(e) of this Agreement shall not include (i) the
Company and any of its Subsidiaries or (ii) any portfolio company of EnCap Investments L.P. or its affiliated investment funds,
except for any portfolio company taking any action that would otherwise be prohibited by Section 3(e) at the direction
or encouragement of any Stockholder or Controlling Entity.

 

8.             Stockholder
Capacity. Each Stockholder signs solely in its capacity as the beneficial owner of its Subject Shares and nothing contained
herein shall limit or affect any actions taken by any officer, director, partner, Affiliate or representative of such Stockholder
who is or becomes an officer or a director of the Company in his or her capacity as an officer or director of the Company, and
none of such actions in such capacity shall be deemed to constitute a breach of this Agreement. Each Stockholder signs individually
solely on behalf of itself and not on behalf of any other Stockholder.

 

    	 	11	 

     

    

 

9.             Enforcement.
The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise breached and that money damages would not be a sufficient remedy
of any such breach. It is accordingly agreed that, in addition to any other remedy to which they are entitled at law or in equity,
the parties hereto shall be entitled to specific performance and injunctive or other equitable relief, without the necessity of
proving the inadequacy of money damages. Notwithstanding the foregoing, Parent agrees that with respect to any damage claim that
might be brought against any Stockholder or any of its Affiliates under this Agreement, and without regard to whether such claim
sounds in contract, tort or any other legal or equitable theory of relief, that damages are limited to actual damages and expressly
waive any right to recover special damages, including, without limitation, lost profits as well as any punitive or exemplary damages.
In the event of any litigation over the terms of this Agreement, the prevailing party in any such litigation shall be entitled
to reasonable attorneys’ fees and costs incurred in connection with such litigation. The parties hereto further agree that
any action or proceeding relating to this Agreement or the transactions contemplated hereby shall be brought and determined in
the Court of Chancery of the State of Delaware (or, if the Court of Chancery of the State of Delaware declines to accept jurisdiction
over a particular matter, the Superior Court of the State of Delaware (Complex Commercial Division) or, if subject matter jurisdiction
over the matter that is the subject of the action or proceeding is vested exclusively in the federal courts of the United States
of America, the federal court of the United States of America sitting in the district of Delaware) and any appellate court from
any thereof. In addition, each of the parties hereto (a) consents that each party hereto irrevocably submits to the exclusive
jurisdiction and venue of such courts listed in this Section 9 in the event any dispute arises out of this Agreement
or any of the transactions contemplated hereby, (b) agrees that each party hereto irrevocably waives the defense of an inconvenient
forum and all other defenses to venue in any such court in any such action or proceeding, and (c) waives any right to trial
by jury with respect to any claim or proceeding related to or arising out of this Agreement or any of the transactions contemplated
hereby. EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT
OF ANY LITIGATION OR PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY. EACH PARTY HERETO CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE ANY OF SUCH
WAIVER, (II) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVER, (III) IT MAKES SUCH WAIVER VOLUNTARILY,
AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN
THIS SECTION 9.

 

 

10.           No
Ownership Interest. Nothing contained in this Agreement shall be deemed to vest in Parent or any other Person any direct or
indirect ownership or incidence of ownership of, or with respect to, any Subject Shares. Subject to the restrictions and requirements
set forth in this Agreement, all rights, ownership and economic benefits of and relating to the Subject Shares shall remain vested
in and belong to each Stockholder, and this Agreement shall not confer any right, power or authority upon Parent or any other Person
to direct the Stockholders in the voting of any of the Subject Shares (except as otherwise specifically provided for herein).

 

[Remainder of the page intentionally
left blank]

 

    	 	12	 

     

    

 

IN WITNESS WHEREOF,
this Agreement has been executed and delivered as of the date first written above.

 

	 	Devon Energy Corporation
	 	 
	 	By:	/s/ David A. Hager
	 	 	Name:	David A. Hager
	 	 	Title:	President and Chief Executive Offer

 

Signature Page to
Support Agreement

 

     

     

    

 

	 	Felix Investments Holdings
II, LLC
	 	 
	 	By:	/s/ John D. McCready
	 	 	Name:	John D. McCready
	 	 	Title:	Chief Executive Officer

 

	 	Felix Energy Investments II,
LLC
	 	 
	 	By:	/s/ John D. McCready
	 	 	Name:	John D. McCready
	 	 	Title:	Chief Executive Officer

 

	 	EnCap Energy Capital Fund
X, L.P.
	 	 
	 	By:	EnCap Equity Fund X GP, L.P.,
	 	 	its General Partner
	 	 
	 	By:	EnCap Investments L.P.,
	 	 	its General Partner
	 	 
	 	By:	EnCap Investments GP, L.L.C.,
	 	 	its General Partner

 

	 	By:	/s/ Douglas E. Swanson, Jr.
	 	 	Name:	Douglas E. Swanson, Jr.
	 	 	Title:	Managing Director

 

	 	EnCap Partners GP, LLC
	 	 
	 	By:	/s/ Douglas E. Swanson, Jr.
	 	 	Name:	Douglas E. Swanson, Jr.
	 	 	Title:	Managing Director

 

Signature
Page to Support Agreement

 

     

     

    

 

Schedule A

 

	Name of Stockholder	 	No.  Shares of

 Company

 Common Stock	 
	Felix Investments Holdings II, LLC	 	 	152,910,532	 
	Felix Energy Investments II, LLC	 	 	*	 
	EnCap Energy Capital Fund X, L.P.	 	 	*	 
	EnCap Partners GP, LLC	 	 	*	 

 

 

* Felix Energy Investments II, LLC, EnCap
Energy Capital Fund X, L.P. and EnCap Partners GP, LLC share voting and dispositive power over the shares of Company Common Stock
held by Felix Investments Holdings II, LLC as further described in the Schedule 13D filed March 16, 2020.

 

     

     

    

 

Exhibit A

 

     

     

    

 

STOCKHOLDERS’ AGREEMENT

 

This STOCKHOLDERS’
AGREEMENT (this “Agreement”), dated as of [●], 2020, is entered into by and among Devon
Energy Corporation, a Delaware corporation (the ”Company”), Felix Investments Holdings II, LLC,
a Delaware limited liability company (the ”Investor”) and, solely for purposes of Section 2.1
and Section 5.10, EnCap Energy Capital Fund X, L.P. (“EnCap”).

 

WHEREAS, the Investor
and WPX Energy, Inc., a Delaware corporation (“East”), have completed the transactions contemplated
by that certain Securities Purchase Agreement, dated as of December 15, 2019, pursuant to which, among other things, the Investor
received 152,910,532 shares of East’s common stock, par value $0.01 per share;

 

WHEREAS, the Company
and East have and will effect the transactions contemplated by that certain Agreement and Plan of Merger (the “Merger
Agreement”), dated as of September 26, 2020 (the “Signing Date”), pursuant to which,
among other things, the Investor has received  [●] shares (the “Issued Shares”) of the Company’s
common stock, par value $0.10 per share (“Common Stock”); and

 

WHEREAS, in connection
with, and effective upon, the date of the closing of the transactions contemplated by the Merger Agreement (the “Closing
Date”), the Company and the Investor desire to enter into this Agreement to set forth certain understandings among
themselves.

 

NOW, THEREFORE, in
consideration of the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

Article I

 

DEFINITIONS

 

Section 1.1             Certain
Definitions. As used in this Agreement, the following terms shall have the following meanings:

 

“Affiliate”
means, with respect to any specified Person, a Person that directly or indirectly Controls or is Controlled by, or is under common
Control with, such specified Person. For purposes of this Agreement, no party to this Agreement shall be deemed to be an Affiliate
of another party to this Agreement solely by reason of the execution and delivery of this Agreement.

 

“Beneficial
Owner” of a security is a Person who directly or indirectly, through any contract, arrangement, understanding, relationship
or otherwise, has or shares (a) voting power, which includes the power to vote, or to direct the voting of, such security
and/or (b) investment power, which includes the power to dispose of, or to direct the disposition of, such security. The term
 “Beneficially Own” shall have a correlative meaning. For the avoidance of doubt, for purposes of this
Agreement, the Investor is deemed to Beneficially Own the shares of Common Stock owned by it notwithstanding the fact that such
shares are subject to this Agreement.

 

     

     

    

 

“Board”
means the Board of Directors of the Company.

 

“Control”
(including the terms “Controls,” “Controlled by” and “under common
Control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management
and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

 

“Governance
Committee” means the Governance Committee of the Board.

 

“Governmental
Entity” means any court, governmental, regulatory or administrative agency or commission or other governmental authority
or instrumentality, domestic or foreign.

 

“Investor
Director” means the person listed on Exhibit A hereto, or any other person designated to replace such
person in accordance with the terms hereof.

 

“Investor
Group” means the Investor and each of its Affiliates; provided, however, that for purposes of this definition
of Investor Group, neither the Investor nor its Affiliates shall be considered to be an Affiliate of the Company or any person
Controlled by the Company.

 

“Law”
means any law, rule, regulation, ordinance, code, judgment, order, treaty, convention, governmental directive or other legally
enforceable requirement, U.S. or non-U.S., of any Governmental Entity, including common law.

 

“Necessary
Action” means, with respect to a specified result, any and all actions necessary to cause such result, including
but not limited to executing any and all agreements and instruments that are required to achieve such result and making, or causing
to be made, with any and all Governmental Entities, all filings, registrations or similar actions that are required to achieve
such result (but solely to the extent such actions are permitted by Law).

 

“Non-Affiliated
Directors” means a director who qualifies as “independent” under the rules of the New York Stock
Exchange or the rules of such other national securities exchange on which the Common Stock is then listed or trading and who
is not the Investor Director.

 

“Organizational
Documents” means the Company’s certificate of incorporation, bylaws and certificates of designations, each
as amended from time to time in accordance with its terms.

 

“Permitted
Transferee” means (i) any direct or indirect member of the Investor who receives shares of Common Stock as a
result of a distribution of Common Stock by the Investor (or any subsequent distribution of such shares of Common Stock by any
such direct or indirect member of Investor) and (ii) any Affiliate of the Investor.

 

“Person”
means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association,
organization, any court, administrative agency, regulatory body, commission or other governmental authority, board, bureau or instrumentality,
domestic or foreign and any subdivision thereof or other entity, and also includes any managed investment account.

 

    	 	 4	 

     

    

 

“SEC”
means the United States Securities and Exchange Commission.

 

“Subject
Policy” means each policy of the Board in place as of the Signing Date that was in effect and applicable to the other
directors (a copy of which was provided to the Investor on or prior to the Signing Date or was available on the Signing Date on
EDGAR or the Company’s website at www.devonenergy.com), each subsequent policy of the Board required by Law that is
in effect and applicable to all Non-Affiliated Directors, and each other subsequent policy of the Board unless such policy would
have the effect of excluding the Investor Director named on Exhibit A from serving on the Board.

 

Section 1.2             Rules of
Construction.

 

(a)           Unless
the context requires otherwise: (i) any pronoun used in this Agreement shall include the corresponding masculine, feminine
or neuter forms; (ii) references to Articles and Sections refer to articles and sections of this Agreement; (iii) the
terms “include,” “includes,” “including” and words of like import shall be deemed to be followed
by the words “without limitation”; (iv) the terms “hereof,” “hereto,” “herein”
or “hereunder” refer to this Agreement as a whole and not to any particular provision of this Agreement; (v) unless
the context otherwise requires, the term “or” is not exclusive and shall have the inclusive meaning of “and/or”;
(vi) defined terms herein will apply equally to both the singular and plural forms and derivative forms of defined terms
will have correlative meanings; (vii) references to any Law or statute shall include all rules and regulations promulgated
thereunder, and references to any Law or statute shall be construed as including any legal and statutory provisions consolidating,
amending, succeeding or replacing the applicable Law or statute; (viii) references to any Person include such Person’s
successors and permitted assigns; and (ix) references to “days” are to calendar days unless otherwise indicated.

 

(b)           The
headings in this Agreement are for convenience and identification only and are not intended to describe, interpret, define or limit
the scope, extent or intent of this Agreement or any provision thereof.

 

(c)           This
Agreement shall be construed without regard to any presumption or other rule requiring construction against the party that
drafted or caused this Agreement to be drafted.

 

Article II

 

REPRESENTATIONS
AND WARRANTIES

 

Section 2.1             Representations
and Warranties. Each party hereto represents and warrants to the other party as follows: (i) such party has full
legal right and capacity to execute and deliver this Agreement, to perform its obligations hereunder and to consummate the transactions
contemplated by this Agreement; (ii) this Agreement has been duly executed and delivered by such party and the execution,
delivery and performance of this Agreement by it and the consummation of the transactions contemplated by this Agreement have
been duly authorized by all Necessary Action on the part of such party and no other actions or proceedings on the part of such
party are necessary to authorize this Agreement or to consummate the transactions contemplated by this Agreement; (iii) this
Agreement constitutes the valid and binding agreement of such party, enforceable against such party in accordance with its terms;
and (iv) the execution and delivery of this Agreement by such party does not, and the consummation of the transactions contemplated
by this Agreement and the compliance with the provisions of this Agreement will not, conflict with or violate any Laws or agreements
binding upon such party, nor require any authorization, consent or approval of, or filing with, any Governmental Entity, except,
with respect to the Company, for filings with the SEC by the Company.

 

    	 	 5	 

     

    

 

Article III

 

COVENANTS

 

Section 3.1             Designee.

 

(a)            On
the Closing Date, the Company will take all Necessary Action to cause the Investor Director listed in Exhibit A hereto
to be appointed to the Board.

 

(b)           From
and after the Closing Date until the Board Designation Expiration Date, the manner for selecting nominees for election to the Board
will be as follows, subject to Section 3.4:

 

(i)            In
connection with each annual or special meeting of stockholders of the Company at which directors are to be elected (each such annual
or special meeting, an “Election Meeting”), the Investor shall have the right to designate for nomination
one (1) Investor Director during any time that the Investor Group Beneficially Own, and have collectively Beneficially Owned
at all times from the Closing Date through such Election Meeting, at least ten percent (10%) of the outstanding shares of Common
Stock.

 

(ii)            The
Investor shall give written notice to the Governance Committee of the Investor Director no later than the date that is ninety (90)
days before the first anniversary of the date that the Company’s annual proxy for the prior year was first mailed to the
Company’s stockholders and the Investor shall provide, or cause such individual to provide, to the Company, such information
about such individual and the nomination to the Company at such times as the Company may reasonably request in order to ensure
compliance with the applicable stock exchange rules and the applicable securities Laws, and to enable the Board of any committee
thereof to make determinations with respect to the qualifications of the individual to be the Investor Director (the
 “Required Information”); provided, however, that if the Investor fails to give such notice or
the Required Information in a timely manner, then the Investor shall be deemed to have nominated the incumbent Investor Director
in a timely manner. The Investor shall also provide to the Company, upon reasonable request from the Company and in connection
with providing the Required Information, evidence reasonably satisfactory to the Company that the Investor Group collectively Beneficially
Own the number of shares of Common Stock that would be required to designate the Investor Director pursuant to this Section 3.1(b) then
serving on the Board or then being designated to the Board in connection with an Election Meeting, as applicable.

 

    	 	 6	 

     

    

 

(c)           From
and after the Closing Date until the Board Designation Expiration Date, the Company shall take all Necessary Actions to cause the
Board to include the Investor Director entitled to be designated by the Investor pursuant to Section 3.1(b) and
otherwise to reflect the Board composition contemplated by Section 3.1, including the following: (i) at each Election
Meeting, include (x) the Investor Director entitled to be designated by the Investor pursuant to Section 3.1(b) in
the slate of nominees recommended by the Board to the Company’s stockholders for election as directors, (ii) to solicit
proxies in order to obtain stockholder approval of the election of the Investor Director, including causing officers of the Company
who hold proxies (unless otherwise directed by the Company stockholder submitting such proxy) to vote such proxies in favor of
the election of such Investor Director and (iii) to cause the Investor Director to be elected to the Board, including
recommending that the Company’s stockholders vote in favor of the Investor Director in any proxy statement used by the
Company to solicit the vote of its stockholders in connection with each Election Meeting.

 

(d)           If
at any time the Investor Director is serving on the Board when the Investor is not entitled to designate an Investor Director pursuant
to Section 3.1(b), then unless otherwise requested by the Board by action of the Non-Affiliated Directors, the Investor
shall promptly (and in any event prior to the time the Board next takes any action, whether at a meeting or by written consent)
cause such Investor Director to resign from the Board.

 

(e)           On
the earliest to occur of (the “Board Designation Expiration Date”) (i) the Investor Group collectively
Beneficially Owning less than ten percent (10%) of the outstanding shares of Common Stock and (ii) such date that the Investor
delivers a written waiver of its rights under this Section 3.1 and Section 3.2 to the Company (which shall
be irrevocable) the Investor will have no further rights under this Section 3.1 or Section 3.2.

 

(f)            For
the avoidance of doubt and subject to Section 3.5 and Section 3.7, the right granted to Investor to designate
a member of the Board is additive to, and not intended to limit in any way, the rights that the Investor may have to nominate,
elect or remove directors under the Organizational Documents or Delaware General Corporation Law.

 

Section 3.2            Vacancies.
Subject to Section 3.1 and Section 3.4, if at any time there is no Investor Director serving on the Board
and the Investor is entitled to designate an Investor Director pursuant to Section 3.1(b), whether due to the death,
resignation, retirement, disqualification or removal from office as a member of the Board of the Investor Director or otherwise,
the Board shall take all Necessary Action required to fill the vacancy resulting therefrom with such replacement designated by
the Investor as promptly as practicable. In furtherance thereof, the Company and the Board shall use its reasonable best efforts,
if requested by the Investor on a timely basis, to fill such vacancy prior to the time the Board next takes action on any other
matter.

 

Section 3.3            Compensation;
Indemnification. The Investor Director shall be entitled to the same expense reimbursement and advancement, exculpation
and indemnification in connection with his or her role as a director as the other members of the Board, as well as reimbursement
for documented, reasonable out-of-pocket expenses incurred in attending meetings of the Board or any committee of the Board of
which the Investor Director is a member, if any, in each case to the same extent as the other members of the Board. The Investor
Director shall be also entitled to any retainer, equity compensation or other fees or compensation paid to the non-employee directors
of the Company for their services as a director, including any service on any committee of the Board.

 

    	 	 7	 

     

    

 

Section 3.4            Selection
of the Investor Director; Committees.

 

(a)           The
Investor Director’s service as a member of the Board must be reasonably acceptable to the Governance Committee. The parties
hereto agree that the person listed on Exhibit A to this Agreement is qualified for service pursuant to the foregoing
sentence. Subject to applicable Law and stock exchange rules, until the Board Designation Expiration Date, the Investor Director
shall be appointed to serve on the Governance Committee, subject to any limitations imposed by Law or stock exchange rules (including
with respect to director independence requirements).

 

(b)           Notwithstanding
anything to the contrary herein, the Investor shall not be entitled to designate any Investor Director pursuant to Section 3.1(a) to
the Board if the Board or a committee thereof reasonably determines that (i) the election of such Investor Director to the
Board would cause the Company to not be in compliance with applicable Law or (ii) such Investor Director has been involved
in any of the events that would be required to be disclosed in a registration statement on Form S-1 pursuant to Item 401(f)(2)-(8) of
Regulation S-K under the Securities Act of 1933 or is subject to any order, decree or judgment of any Governmental Entity prohibiting
service as a director of any public company. In any such case described in clauses (i) or (ii) of the immediately
preceding sentence, the Investor shall withdraw the designation of such proposed Investor Director, and, subject to the requirements
of this Section 3.4(b) be permitted to designate a replacement therefor (which replacement Investor Director will
also be subject to the requirements of this Section 3.4(b)). The Company hereby agrees that the Investor Director listed
on Exhibit A to this Agreement would not be prohibited from serving on the Board pursuant to clause (i) of
the first sentence of this Section 3.4(b).

 

(c)            Subject
to Section 3.7, the Board may impose as a condition to the Investor Director serving on the Board that such Investor
Director agree to, and be subject to, each Subject Policy. For the avoidance of doubt, no Subject Policy shall modify any of the
rights and obligations of the parties to this Agreement, the Registration Rights Agreement between the parties dated as of the
date hereof, the Merger Agreement or any other agreement entered into between the parties in connection with the transactions contemplated
by the Merger Agreement.

 

 

    	 	8	 

     

    

 

Section 3.5             Lock-up.
The Investor shall not, without the prior written consent of the Company, during the period commencing on the Closing Date and
continuing for one hundred and eighty (180) days after the Closing Date (the “Lock-up Period”), (a) offer,
pledge, sell, contract to sell, grant any option, right or warrant to purchase, give, assign, hypothecate, pledge, encumber, grant
a security interest in, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right
or warrant to purchase, lend or otherwise transfer or dispose of (including through any hedging or other similar transaction)
any economic, voting or other rights in or to the Issued Shares, or otherwise transfer or dispose of, directly or indirectly,
or (b) enter into any swap or other agreement that transfers, in whole or in part, any of the economic consequences of ownership
of the Issued Shares (any such transaction described in clause (a) or (b) above, a “Transfer”).
Notwithstanding the foregoing, the restrictions set forth in this Section 3.5 shall not apply to (i) Transfers
involving in the aggregate no more than [●]1 shares
of Common Stock (as appropriately adjusted for any stock split, stock dividend or similar transaction), (ii) Transfers to
Permitted Transferees; provided, however, that if such Permitted Transferee is EnCap or any of its Controlled Affiliates,
EnCap or such Controlled Affiliate must agree in an executed written agreement (a copy of which will be delivered to the Company)
for the benefit of the Company to be bound by the terms of this Section 3.5 prior to such Transfer or distribution,
as applicable, and that any Permitted Transferee that is an Affiliate of EnCap and does not otherwise qualify as a Permitted Transferee
shall also agree that such Person shall Transfer such shares of Common Stock back to EnCap if, during the Lock-Up Period, such
Person ceases to be an Affiliate of EnCap, or (iii) any Transfers made in connection with any tender offer, exchange offer,
merger, consolidation or other similar transaction approved or recommended by the Board or a committee thereof. Notwithstanding
the foregoing, EnCap shall not be entitled to distribute shares of Common Stock to its limited partners during the Lock-Up Period.
In connection with any Transfer to a Permitted Transferee, the Company agrees to not take any action that would cause such Transfer
to be subject to requirements imposed by any “fair price,” “moratorium,” “control share acquisition,”
 “business combination” or any other anti-takeover statute or similar statute enacted under applicable Law (“Takeover
Laws”), and, at the request of the Investor, will take all reasonable steps within its control to exempt (or ensure
the continued exemption of) the Transfer from the Takeover Laws of any state that purport to apply to such transaction.

 

Section 3.6             Waiver
of Corporate Opportunities. It is hereby acknowledged that members of the Investor Group participate in, and own and
will own substantial equity interests in other entities (existing and future) that participate in, the energy industry (“Portfolio
Companies”) and may make investments and enter into advisory service agreements and other agreements from time to
time with those Portfolio Companies. Any individual who serves as the Investor Director may also serve as an employee, partner,
officer, director, or member of the Investor Group or Portfolio Companies and, at any given time, members of the Investor Group
or Portfolio Companies may be in direct or indirect competition with the Company and/or its subsidiaries. The Company waives,
to the maximum extent permitted by Law, the application of the doctrine of corporate opportunity (or any analogous doctrine) with
respect to the Investor Group or Portfolio Companies or the Investor Director. As a result of such waiver, no member of the Investor
Group or Portfolio Companies, nor the Investor Director, shall have any obligation to refrain from: (A) engaging in or managing
the same or similar activities or lines of business as the Company or any of its subsidiaries or developing or marketing any products
or services that compete (directly or indirectly) with those of the Company or any of its subsidiaries; (B) acquiring assets
in the same or similar areas of operation and lines of business of the Company; (C) investing in, owning or disposing of
any (public or private) interest in any Person engaged in the same or similar activities or lines of business as, or otherwise
in competition with, the Company or any of its subsidiaries (including any member of the Investor Group, a “Competing
Person”); (D) developing a business relationship with any Competing Person; or (E) entering into any agreement
to provide any service(s) to any Competing Person or acting as an officer, director, member, manager or advisor to, or other
principal of, any Competing Person, regardless (in the case of each of clauses (A) through (E)) of whether such activities
are in direct or indirect competition with the business or activities of the Company or any of its subsidiaries (the activities
described in clauses (A) through (D) are referred to herein as “Specified Activities”).
To the fullest extent permitted by Law, the Company hereby renounces (for itself and on behalf of its subsidiaries) any interest
or expectancy in, or in being notified of or offered an opportunity to participate in, any Specified Activity that may be presented
to or become known to any member of the Investor Group or Portfolio Companies or the Investor Director. Nothing in this Section 3.6
shall be construed to limit or waive any right of the Company or any of its subsidiaries pursuant to any express written agreement
between the Company and/or one or more of its subsidiaries, on the one hand, and any member of the Investor Group, any Portfolio
Company, or any of their respective employees, partners, officers, directors or members, on the other hand.

 

 

1        Note
to Draft: To be equal to 1/3 of the Issued Shares.

  

    	 	 9	 

     

    

 

Section 3.7             Amendment
to Organizational Documents. The Company shall not amend, or propose to amend, the Organizational Documents in any
manner that is inconsistent with or would nullify or supersede any of the terms of this Agreement or would prevent any party hereto
from complying with its obligations hereunder unless such proposed amendment is approved by the Investor.

 

Article IV

 

TERMINATION

 

Section 4.1             Termination.
This Agreement (except with respect to the rights and obligations under Section 3.6 hereof, which shall not be terminable)
shall terminate upon the earliest to occur of (a) the last to occur of (i) the Board Designation Expiration Date and
(ii) the expiration of the Lock-up Period, (b) the Investor and its Permitted Transferees ceasing to own any shares
of Common Stock or (c) the mutual written consent of the parties. Notwithstanding the foregoing, the rights and obligations
provided under Section 5.10 shall terminate upon the one-year anniversary of the Board Designation Expiration Date.

 

Article V

 

MISCELLANEOUS

 

Section 5.1             Notices.
All notices, requests, demands and other communications under this Agreement shall be in writing and shall be personally delivered,
sent by nationally recognized overnight courier, mailed by registered or certified mail or be sent by facsimile or electronic
mail to such party at the address set forth below (or such other address as shall be specified by like notice). Notices will be
deemed to have been duly given hereunder if (a) personally delivered, when received, (b) sent by nationally recognized
overnight courier, one business day after deposit with the nationally recognized overnight courier, (c) mailed by registered
or certified mail, five business days after the date on which it is so mailed, and (d) sent by facsimile or electronic mail,
on the date sent so long as such communication is transmitted before 5:00 p.m. in the time zone of the receiving party on
a business day and the receiving party affirmatively acknowledges receipt, otherwise, on the next business day.

 

    	 	 10	 

     

    

 

		(a)	If to the Company, to:

 

			Devon Energy Corporation

			333 West Sheridan Avenue

			Oklahoma City, Oklahoma 73102

			Attention: Jeffrey L. Ritenour; Lyndon C. Taylor; Edward
Highberger

			Email: Jeff.Ritenour@dvn.com; lyndon.taylor@dvn.com;

			Edward.Highberger@dvn.com

 

If to the Investor, to:

 

	 	(b)	Felix Investments Holdings
II, LLC

 

			1530 16th Street

			Suite 500

			Denver, Colorado 80202

			Attention:     John
D. McCready

			E-mail:         johnm@felix-energy.com

 

		(c)	If to EnCap, to:

 

			EnCap Energy Capital
Fund X, L.P.

			1100 Louisiana Street

			Suite 4900

			Houston, Texas 77002

			Attention:     Douglas
E. Swanson, Jr.

			E-mail:         dswanson@encapinvestments.com

 

Section 5.2             Severability.
The provisions of this Agreement shall be deemed severable, and the invalidity or unenforceability of any provision shall not
affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement, or the application thereof
to any Person or any circumstance, is found to be invalid or unenforceable in any jurisdiction, (a) a suitable and equitable
provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose
of such invalid or unenforceable provision and (b) the remainder of this Agreement and the application of such provision
to other Persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability
affect the validity or enforceability of such provision, or the application thereof, in any other jurisdiction.

 

Section 5.3             Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which, taken
together, shall be considered one and the same agreement.

 

Section 5.4             Entire
Agreement; No Third Party Beneficiaries. This Agreement (a) constitutes the entire agreement and supersedes all
other prior agreements, both written and oral, among the parties hereto with respect to the subject matter hereof and (b) is
not intended to confer upon any Person, other than the parties hereto, any rights or remedies hereunder.

 

    	 	 11	 

     

    

 

Section 5.5            Further
Assurances.

 

(a)           Each
party hereto shall execute, deliver, acknowledge and file such other documents and take such further actions as may be reasonably
requested from time to time by the other parties hereto to give effect to and carry out the transactions contemplated herein.

 

(b)           In
the event that the Company or any of its successors or permitted assigns engage in a merger, consolidation, equity security exchange
or similar transaction in which the Common Stock is converted into or exchanged for equity securities in another entity, the Company
(or such successor or permitted assign) shall cause such other entity to enter into an agreement with the Investor that provides
the Investor with rights substantially similar to those provided hereunder.

 

Section 5.6             Governing
Law; Equitable Remedies. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF DELAWARE (WITHOUT GIVING EFFECT TO CONFLICT OF LAWS PRINCIPLES THEREOF). The parties hereto agree that irreparable damage would
occur in the event that any of the provisions of this Agreement were not performed in accordance with its specific terms or was
otherwise breached. It is accordingly agreed that the parties hereto shall be entitled to an injunction or injunctions and other
equitable remedies to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in any of
the Selected Courts (as defined below), this being in addition to any other remedy to which they are entitled at Law or in equity.
Any requirements for the securing or posting of any bond with respect to such remedy are hereby waived by each of the parties
hereto. Each party hereto further agrees that, in the event of any action for an injunction or other equitable remedy in respect
of such breach or enforcement of specific performance, it will not assert the defense that a remedy at Law would be adequate.

 

Section 5.7             Consent
To Jurisdiction. With respect to any suit, action or proceeding (“Proceeding”) arising out
of or relating to this Agreement, each of the parties hereto hereby irrevocably (a) submits to the exclusive jurisdiction
of the Court of Chancery of the State of Delaware and the United States District Court for the District of Delaware and the appellate
courts therefrom (the “Selected Courts”) and waives any objection to venue being laid in the Selected
Courts whether based on the grounds of forum non conveniens or otherwise and hereby agrees not to commence any such Proceeding
other than before one of the Selected Courts; provided, however, that a party may commence any Proceeding in a court other
than a Selected Court solely for the purpose of enforcing an order or judgment issued by one of the Selected Courts; (b) consents
to service of process in any Proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, or
by recognized international express carrier or delivery service, to their respective addresses referred to in Section 5.1
hereof; provided, however, that nothing herein shall affect the right of any party hereto to serve process in any other
manner permitted by Law; and (c) TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, WAIVES, AND COVENANTS
THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY ACTION ARISING IN WHOLE
OR IN PART UNDER OR IN CONNECTION WITH THIS AGREEMENT, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN
CONTRACT, TORT OR OTHERWISE, AND AGREES THAT ANY OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE
OF THE KNOWING, VOLUNTARY AND BARGAINED-FOR AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE THE RIGHT TO TRIAL BY JURY IN ANY
PROCEEDING WHATSOEVER BETWEEN THEM RELATING TO THIS AGREEMENT AND TO HAVE ALL MATTERS RELATING TO THIS AGREEMENT BE TRIED IN A
COURT OF COMPETENT JURISDICTION BY A JUDGE SITTING WITHOUT A JURY.

 

    	 	 12	 

     

    

 

Section 5.8            Amendments;
Waivers.

 

(a)           No
provision of this Agreement may be amended or waived unless such amendment or waiver is in writing and signed (i) in the case
of an amendment, by each of the parties hereto, and (ii) in the case of a waiver, by each of the parties against whom the
waiver is to be effective.

 

(b)           No
failure or delay by any party in exercising any right, power or privilege hereunder shall operate as waiver thereof nor shall any
single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or
privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by
Law.

 

Section 5.9             Assignment.
Neither this Agreement nor any of the rights or obligations hereunder shall be assigned by any of the parties hereto without the
prior written consent of the other parties; provided, however, that the Investor may assign any of its rights hereunder
to any of its Affiliates to the extent such Affiliate is Transferred Common Stock not in violation of the terms of this Agreement
and provided any such Affiliate execute a joinder to this Agreement. Subject to the preceding sentence, this Agreement will be
binding upon, inure to the benefit of and be enforceable by the parties and their respective successors and assigns.

 

Section 5.10           Confidentiality.
Each of the Investor and EnCap shall hold, and cause its Affiliates and its and their respective directors, managers, officers,
employees, agents, consultants, auditors, attorneys, financial advisors, financing sources and other consultants and advisors
(“Representatives”) to hold, in strict confidence, unless disclosure to a regulatory authority is necessary
in connection with any necessary regulatory approval, examination or inspection or unless disclosure is required by judicial or
administrative process or by other requirement of law or the applicable requirements of any regulatory agency or relevant stock
exchange (in which case, other than in connection with a disclosure in connection with a routine audit or examination by, or document
request from, a regulatory or self-regulatory authority, bank examiner or auditor, the party disclosing such information shall
provide the other party with prior written notice of such permitted disclosure), all nonpublic records, books, contracts, instruments,
computer data and other data and information (collectively, “Information”) concerning the Company, East
or any of their respective subsidiaries furnished to it or the Investor Director by or on behalf of the Company, East or any of
their respective subsidiaries (except to the extent that such information can be shown by the party receiving such Information
to have been (a) previously known by such party from other sources; provided that such source was not known by such
party to be bound by a contractual, legal or fiduciary obligation of confidentiality to the other party, (b) in the public
domain through no violation of this Section 5.10 by such party or (c) later lawfully acquired from other sources
by the party to which it was furnished), and no such party shall release or disclose such Information to any other person, except
its Representatives (excluding, for the avoidance of doubt, any Portfolio Company, unless such Portfolio Company enters into a
joinder agreement with the Company), or use such Information other than in connection with evaluating and taking actions with
respect to such Person’s ownership interest in the Company. The Company acknowledges and agrees that the Investor and EnCap
may, in the ordinary course of their respective businesses, evaluate investments in the energy industry and that they are actively
seeking to invest in energy related projects in a variety of areas, including the provision of fresh water and disposal of produced
water in connection with oil and gas exploration and development operations. The Company understands that the Investor, EnCap
and the Investor Director will retain certain mental impressions of Information, which are indistinguishable from generalized
industry knowledge. Accordingly, the Company agrees that, subject to the terms of this Agreement, the Investor, EnCap and the
Investor Director are not precluded from pursuing investments solely because of such retained mental impressions. Notwithstanding
any provision of this Agreement to the contrary, no provision of this Agreement shall apply to any action taken independently
by any Portfolio Company so long as the Investor or EnCap has not provided such Portfolio Company with any Information. For purposes
of clarification, no such Portfolio Company shall be deemed to have been provided with Information solely as a result of the Investor,
EnCap, any Investor Director or any Representative (whether such Person has been provided with or has knowledge of Information)
serving on the board of such Portfolio Company (provided that such board member does not use Information in connection with the
business of such Portfolio Company).

 

[Signature page follows.]

 

    	 	 13	 

     

    

 

 

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

 

	 	Devon Energy Corporation
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    

     

    

 

	 	Felix
Investments Holdings II, LLC
	 	 
	 	By:	 
	 	 	Name:	John
D. McCready
	 	 	Title:	Chief
Executive Officer

 

    

     

    

 

Accepted and acknowledged, solely for purposes
of Section 2.1, Section 3.5, Section 3.7 and Section 5.10 in this Agreement:

 

	EnCap Energy Capital Fund X, L.P.	 
	 	 
	By:	 EnCap Equity Fund X GP, L.P.,	 
	 	General Partner of EnCap Energy	 
	 	Capital Fund X, L.P.	 
	 	 
	By:	EnCap Investments L.P.,	 
	 	General Partner of EnCap Equity Fund	 
	 	X GP, L.P.	 
	 	 
	By:	EnCap Investments GP, L.L.C.,	 
	 	General Partner of EnCap Investments L.P.	 

 

	By:	 	 
	 	Name:	Douglas E. Swanson, Jr.	 
	 	Title:	Managing Partner	 

 

    

     

    

 

EXHIBIT A

 

INITIAL INVESTOR DIRECTOR

 

		1.	D. Martin Phillips

 

    

     

    

 

Exhibit B

 

    

     

    

 

REGISTRATION RIGHTS AGREEMENT

 

This REGISTRATION RIGHTS
AGREEMENT (this “Agreement”), dated as of [●],
2020, is by and among Devon Energy Corporation, a Delaware corporation (the “Company”), Felix Investments Holdings
II, LLC, a Delaware limited liability company (the “Investor”), and the other Holders (as defined below) from
time to time parties hereto.

 

RECITALS:

 

WHEREAS, the
Investor, the other Holders from time to time parties thereto and WPX Energy, Inc., a Delaware corporation (“East”
and together with the Investor and the other Holders from time to time parties thereto, the “East RRA Parties”)
are party to that certain Registration Rights Agreement, dated as of March 6, 2020 (the “East Registration Rights
Agreement”), pursuant to which, among other things, East provided certain registration rights to the Holders of East
Common Stock (as defined below) issued to the Investor pursuant to the terms of that certain Securities Purchase Agreement, dated
as of December 15, 2019, between East and the Investor;

 

WHEREAS, the
Company and East have entered into that certain Agreement and Plan of Merger, dated as of September 26, 2020, (as it may be
amended or supplemented from time to time, the “Merger Agreement”), by and among the Company, East Merger Sub, Inc.,
a Delaware corporation and a wholly-owned subsidiary of the Company (“Merger Sub”), and East, pursuant to which,
among other things, on the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub will merge with and
into East (the “Merger”), which will survive as a wholly-owned subsidiary of the Company, and the shares of
East Common Stock will be converted into shares of common stock, par value $0.10 per share, of the Company (the “Common
Stock”);

 

WHEREAS, in
connection with, and effective upon, the date of the closing of the Merger (the “Closing Date”), the Company
has issued to the Investor the Issued Shares (as defined below) and all of Investor’s shares of East Common Stock were canceled
in accordance with the terms of the Merger Agreement;

 

WHEREAS, in
connection with the closing of the Merger, the Company is granting to the Investor and the other Holders from time to time parties
hereto, certain registration rights with respect to the Issued Shares, as set forth in this Agreement; and

 

WHEREAS, in
connection with, and effective upon, entering into this Agreement, the East RRA Parties are entering into that certain termination
agreement, dated the date hereof, pursuant to which the East RRA Parties agreed to terminate the East Registration Rights Agreement.

 

NOW THEREFORE,
in consideration of the mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged by each party hereto, the parties hereby agree as follows:

 

    

     

    

 

Article I

 

DEFINITIONS

 

As used herein, the
following terms shall have the following respective meanings:

 

“Adoption
Agreement” means an Adoption Agreement in the form attached hereto as Exhibit A.

 

“Affiliate”
means (a) as to any Person, other than an individual Holder, any other Person who directly, or indirectly through one or more
intermediaries, controls, is controlled by or is under common control with such Person and (b) as to any individual, (i) any
Relative of such individual, (ii) any trust whose primary beneficiaries are one or more of such individual and such individual’s
Relatives, (iii) the legal representative or guardian of such individual or any of such individual’s Relatives if one
has been appointed and (iv) any Person controlled by one or more of such individual or any Person referred to in clauses (i),
(ii) or (iii) above. As used in this Agreement, the term “control,” including the correlative terms “controlling,”
 “controlled by” and “under common control with,” means possession, directly or indirectly, of the power
to direct or cause the direction of management or policies (whether through ownership of securities or any partnership or other
ownership interest, by contract or otherwise) of a Person.

 

“Agreement”
has the meaning set forth in the introductory paragraph.

 

“ASR Filing”
has the meaning set forth in Section 2.1(a).

 

“Board”
means the board of directors of the Company.

 

“Business
Day” means any day other than a Saturday, Sunday, any federal holiday or any other day on which banking institutions
in the State of Texas or the State of New York are authorized or required to be closed by law or governmental action.

 

“Closing Date”
has the meaning set forth in the recitals.

 

“Commission”
means the Securities and Exchange Commission or any successor governmental agency.

 

“Common Stock”
has the meaning set forth in the recitals.

 

“Company”
has the meaning set forth in the introductory paragraph.

 

“Company Securities”
has the meaning set forth in Section 2.4(c)(i).

 

“East”
has the meaning set forth in the recitals.

 

“East Common
Stock” means the common stock of East, $0.01 par value per share.

 

“East Registration
Rights Agreement” has the meaning set forth in the recitals.

 

“East RRA
Parties” has the meaning set forth in the recitals.

 

    3

     

    

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, or any successor federal statute, and the rules and
regulations of the Commission thereunder, all as the same shall be in effect at the time.

 

“Felix Closing
Date” means March 6, 2020.

 

“Holder”
means any record holder of Registrable Securities.

 

“Holders Securities”
has the meaning set forth in Section 2.2(c)(i).

 

“Indemnified
Party” has the meaning set forth in Section 3.3.

 

“Indemnifying
Party” has the meaning set forth in Section 3.3.

 

“Investor”
has the meaning set forth in the introductory paragraph.

 

“Issued Shares”
means the number of shares of Common Stock issued to the Investor pursuant to the terms of the Merger Agreement.

 

“Losses”
has the meaning set forth in Section 3.1.

 

“Majority
Holders” shall mean, at any time, the Holder or Holders of more than fifty percent (50%) of the Registrable Securities
at such time.

 

“Managing
Underwriter” means, with respect to any Underwritten Offering, the lead book-running manager(s) of such Underwritten
Offering.

 

“Merger Agreement”
has the meaning set forth in the recitals.

 

“Opt-Out Notice”
has the meaning set forth in Section 2.4(b).

 

“Permitted
Transferee” of a Holder means (i) any Affiliate of the Holder or (ii) any direct or indirect partner, shareholder
or member of the Holder or any trust, family partnership or family limited liability company, the sole direct or indirect beneficiaries,
partners or members of which are the Holder or Relatives of the Holder.

 

“Person”
means any individual, corporation, partnership, limited liability company, firm, association, trust, government, governmental agency
or other entity, whether acting in an individual, fiduciary or other capacity.

 

“Piggyback
Underwritten Offering” has the meaning set forth in Section 2.4(a).

 

“Piggybacking
Holder” has the meaning set forth in Section 2.4(a).

 

“Proceeding”
shall mean an action, claim, suit, arbitration or proceeding (including, without limitation, an investigation or partial proceeding,
such as a deposition), whether commenced or threatened.

 

    4

     

    

 

“Registrable
Securities” shall mean (a) the Issued Shares and (b) any securities issued or issuable with respect to the
Issued Shares by way of distribution or in connection with any reorganization or other recapitalization, merger, consolidation
or otherwise; provided, however, that a Registrable Security shall cease to be a Registrable Security when (i) such
share has been disposed of pursuant to an effective Registration Statement, (ii) such share has been disposed of under Rule 144
or any other exemption from the registration requirements of the Securities Act as a result of which the Transferee thereof does
not receive “restricted securities” as defined in Rule 144 under the Securities Act or (iii) such shares
are freely tradeable by the Holder thereof without volume or other limitations or requirements under Rule 144 and such Holder
and its Affiliates collectively hold less than 5% of the outstanding shares of Common Stock.

 

“Registration
Expenses” means all expenses incurred by the Company in complying with Article II, including, without limitation,
all registration and filing fees, printing expenses, road show expenses, fees and disbursements of counsel and independent public
accountants and independent petroleum engineers for the Company, fees and expenses (including counsel fees) incurred in connection
with complying with state securities or “blue sky” laws, fees of the Financial Industry Regulatory Authority, Inc.,
fees of transfer agents and registrars, and the reasonable fees and disbursements of one special legal counsel to represent the
Investor in an applicable Shelf Underwritten Offering or Piggyback Underwritten Offering not to exceed $25,000 per Shelf Underwritten
Offering or Piggyback Underwritten Offering, but excluding any Selling Expenses.

 

“Registration
Statement” means any registration statement of the Company filed or to be filed with the Commission under the Securities
Act, including the related prospectus, amendments and supplements to such registration statement, and including pre- and post-effective
amendments, and all exhibits and all material incorporated by reference in such registration statement.

 

“Relative”
means, with respect to any natural person: (a) such natural person’s spouse, (b) any lineal descendant, parent,
grandparent, great grandparent or sibling or any lineal descendant of such sibling (in each case whether by blood or legal adoption),
and (c) the spouse of a natural person described in clause (b) of this definition.

 

“Requesting
Holder” has the meaning set forth in Section 2.2(a).

 

“Required
Shelf Filing Date” means the 10th Business Day after the date of this Agreement.

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such rule may be amended from time to
time, or any similar rule or regulation hereafter adopted by the Commission as a replacement thereto having substantially
the same effect as such rule.

 

“Section 2.2
Maximum Number of Shares” has the meaning set forth in Section 2.2(c).

 

“Securities
Act” means the Securities Act of 1933, as amended, or any successor federal statute, and the rules and regulations
of the Commission thereunder, all as the same shall be in effect at the time. References to any rule under the Securities
Act shall be deemed to refer to any similar or successor rule or regulation.

 

    5

     

    

 

“Selling Expenses”
means all (a) underwriting fees, discounts and selling commissions allocable to the sale of Registrable Securities, (b) transfer
taxes allocable to the sale of the Registrable Securities and (c) costs or expenses related to any roadshows conducted in
connection with the marketing of any Shelf Underwritten Offering.

 

“Selling Holder”
means a Holder selling Registrable Securities pursuant to a Registration Statement.

 

“Shelf Piggybacking
Holder” has the meaning set forth in Section 2.2(b).

 

“Shelf Registration
Statement” has the meaning set forth in Section 2.1(a).

 

“Shelf Underwritten
Offering” has the meaning set forth in Section 2.2(a).

 

“Shelf Underwritten
Offering Request” has the meaning set forth in Section 2.2(a).

 

“Suspension
Period” has the meaning set forth in Section 2.3.

 

“Transfer”
means any offer, sale, pledge, encumbrance, hypothecation, entry into any contract to sell, grant of an option to purchase, short
sale, assignment, transfer, exchange, gift, bequest or other disposition, direct or indirect, in whole or in part, by operation
of law or otherwise. “Transfer,” when used as a verb, and “Transferee” and “Transferor”
have correlative meanings.

 

“Underwritten
Offering” means an offering (including an offering pursuant to a Shelf Registration Statement) in which shares of Common
Stock are sold to an underwriter for reoffer.

 

“Underwritten
Offering Filing” means (a) with respect to a Shelf Underwritten Offering, a preliminary prospectus supplement (or
prospectus supplement if no preliminary prospectus supplement is used) to the Shelf Registration Statement relating to such Shelf
Underwritten Offering, and (b) with respect to a Piggyback Underwritten Offering, (i) a preliminary prospectus supplement
(or prospectus supplement if no preliminary prospectus supplement is used) to an effective Shelf Registration Statement (other
than the Shelf Registration Statement) or (ii) a Registration Statement, in each case relating to such Piggyback Underwritten
Offering.

 

“WKSI”
means a well-known seasoned issuer (as defined in Rule 405 under the Securities Act).

 

Article II

 

REGISTRATION
RIGHTS

 

Section 2.1             Shelf
Registration.

 

(a)            As
soon as practicable, and in any event on or prior to the Required Shelf Filing Date, the Company shall prepare and file a “shelf”
registration statement under the Securities Act to permit the resale of the Registrable Securities from time to time as permitted
by Rule 415 under the Securities Act (or any similar provision adopted by the Commission then in effect) (the “Shelf
Registration Statement”). If at the time of such filing, the Company is a WKSI, the Registration Statement shall be an
automatic shelf registration statement that becomes effective upon filing with the Commission in accordance with Rule 462(e) under
the Securities Act (an “ASR Filing”). If the Shelf Registration Statement does not qualify as an ASR Filing,
the Company shall use its commercially reasonable efforts to cause such Registration Statement to become or be declared effective
as soon as practicable after the filing thereof and, in any event, within 45 days after the date of this Agreement in the case
of a Shelf Registration Statement on Form S-3 or 90 days after the date of this Agreement in the case of a Shelf Registration
Statement on Form S-1. Following the effective date of the Shelf Registration Statement that is not an ASR Filing, the Company
shall notify the Holders of the effectiveness of such Registration Statement.

 

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(b)            The
Shelf Registration Statement shall be on Form S-3 or, if Form S-3 is not then available to the Company, on Form S-1
or such other form of registration statement as is then available to effect a registration for resale of such Registrable Securities
and shall contain a prospectus in such form as to permit any Holder to sell such Registrable Securities pursuant to Rule 415
under the Securities Act (or any successor or similar rule adopted by the Commission then in effect) at any time beginning
on the effective date for such Registration Statement. The Shelf Registration Statement shall provide for the distribution or resale
pursuant to any method or combination of methods legally available to the Holders.

 

(c)            The
Company shall use its commercially reasonable efforts to cause the Shelf Registration Statement to remain effective, and to be
supplemented and amended as promptly as practicable to the extent necessary to ensure that the Shelf Registration Statement is
available or, if not available, that another Registration Statement is available (which Registration Statement shall also be referred
to herein as the Shelf Registration Statement), for the resale of all the Registrable Securities until all of the Registrable Securities
have ceased to be Registrable Securities or the earlier termination of this Agreement (as to all Holders).

 

(d)            When
effective, the Shelf Registration Statement (including the documents incorporated therein by reference) will comply as to form
in all material respects with all applicable requirements of the Securities Act and the Exchange Act and will not contain an untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein not misleading (in the case of any prospectus contained in the Shelf Registration Statement, in the light of the circumstances
under which such statements are made).

 

Section 2.2              Underwritten
Shelf Offering Requests.

 

(a)            In
the event that any Holder or group of Holders elects to dispose of Registrable Securities under a Registration Statement pursuant
to an Underwritten Offering and reasonably expects gross proceeds of at least $100 million from such Underwritten Offering (including
proceeds attributable to any Registrable Securities included in such Underwritten Offering by any Shelf Piggybacking Holders),
the Company shall, at the request (a “Shelf Underwritten Offering Request”) of such Holder or Holders (in such
capacity, a “Requesting Holder”), enter into an underwriting agreement in a form as is customary in Underwritten
Offerings of securities by the Company with the underwriter or underwriters selected by the Requesting Holders holding a majority
of the shares of Common Stock expected to be sold in such Underwritten Offering (and reasonably acceptable to the Company) and
shall take all such other reasonable actions as are requested by the Managing Underwriter of such Underwritten Offering and/or
the Requesting Holders in order to expedite or facilitate the disposition of such Registrable Securities and, subject to Section 2.2(c),
the Registrable Securities requested to be included by any Shelf Piggybacking Holder (a “Shelf Underwritten Offering”);
provided, however, that the Company shall have no obligation to facilitate or participate (i) in more than two Shelf
Underwritten Offerings that are initiated by a Holder pursuant to this Section 2.2 during any 12-month period (and
no more than one Shelf Underwritten Offering in any 120-day period) or (ii) in any Shelf Underwritten Offering if the Company
has conducted a Shelf Underwritten Offering in the preceding 120-day period in which such Requesting Holder was eligible to exercise
piggyback registration rights pursuant to Section 2.4 and was not subject to cutback pursuant to Section 2.4(c) to
the number of Registrable Securities that the Requesting Holder had requested be included in the Piggyback Underwritten Offering.

 

    7

     

    

 

(b)            If
the Company receives a Shelf Underwritten Offering Request, it will give written notice of such proposed Shelf Underwritten Offering
to each Holder (other than the Requesting Holder), which notice shall include the anticipated filing date of the related Underwritten
Offering Filing and, if known, the number of shares of Common Stock that are proposed to be included in such Shelf Underwritten
Offering, and of such Holders’ rights under this Section 2.2(b). Such notice shall be given promptly (and in
any event not later than two Business Day following receipt of the Shelf Underwritten Offering Request); provided, that
if the Shelf Underwritten Offering is a bought or overnight Underwritten Offering and the Managing Underwriter advises the Company
and the Requesting Holder that the giving of notice pursuant to this Section 2.2(b) would adversely affect the
offering, no such notice shall be required (and such Holders shall have no right to include Registrable Securities in such bought
or overnight Underwritten Offering); and provided further, that the Company shall not so notify any such other Holder that
has notified the Company (and not revoked such notice) requesting that such Holder not receive notice from the Company of any proposed
Shelf Underwritten Offering. If such notice is delivered pursuant to this Section 2.2(b), each such Holder shall then
have three Business Days (or one Business Day in the case of a bought or overnight Underwritten Offering) after the date on which
the Holders received notice pursuant to this Section 2.2(b) to request inclusion of Registrable Securities in
the Shelf Underwritten Offering (which request shall specify the maximum number of Registrable Securities intended to be disposed
of by such Holder and such other information as is reasonably required to effect the inclusion of such Registrable Securities)
(any such Holder making such request, a “Shelf Piggybacking Holder”). If no request for inclusion from a Holder
is received within such period, such Holder shall have no further right to participate in such Shelf Underwritten Offering.

 

(c)            If
the Managing Underwriter of the Shelf Underwritten Offering shall inform the Requesting Holder of its belief that the number of
Registrable Securities requested to be included in such Shelf Underwritten Offering by the Holders (and any other shares of Common
Stock requested to be included by any other Persons having registration rights with respect to such offering) would materially
adversely affect such offering, then the Company shall include in the applicable Underwritten Offering Filing, to the extent of
the total number of Registrable Securities that the Company is so advised can be sold in such Shelf Underwritten Offering without
so materially adversely affecting such offering (the “Section 2.2 Maximum Number of Shares”), Registrable
Securities in the following priority:

 

    8

     

    

 

 

(i)           First,
all Registrable Securities that the Holders requested to be included therein (the “Holders Securities”) (pro
rata among the Holders based on the number of Registrable Securities each requested to be included), and

 

(ii)          Second,
to the extent that the number of Holders Securities is less than the Section 2.2 Maximum Number of Shares, the shares
of Common Stock requested to be included by any other Persons having registration rights with respect to such offering, pro
rata among such other Persons based on the number of shares of Common Stock each requested to be included.

 

(d)          The
Requesting Holders shall determine the pricing of the Registrable Securities offered pursuant to any Shelf Underwritten Offering
and the applicable underwriting discounts and commissions and determine the timing of any such Shelf Underwritten Offering, subject
to Section 2.3.

 

(e)          Each
Holder shall have the right to withdraw their Registrable Securities from the Shelf Underwritten Offering at any time prior to
the execution of an underwriting agreement with respect thereto by giving written notice to the Company of its request to withdraw.

 

Section 2.3           Delay
and Suspension Rights. Notwithstanding any other provision of this Agreement, the Company may (i) delay effecting a Shelf
Underwritten Offering or (ii) suspend the Holders’ use of any prospectus that is a part of a Shelf Registration Statement
upon written notice to each Holder whose Registrable Securities are included in such Shelf Registration Statement (provided that
in no event shall such notice contain any material non-public information regarding the Company) (in which event such Holder shall
discontinue sales of Registrable Securities pursuant to such Registration Statement but may settle any then-contracted sales of
Registrable Securities), in each case for a period of up to 40 consecutive days, if the Board determines (A) that such delay
or suspension is in the best interest of the Company and its stockholders generally due to a pending financing or other transaction
involving the Company, (B) that such registration or offering would render the Company unable to comply with applicable securities
laws or (C) that such registration or offering would require disclosure of material information that the Company has a bona
fide business purpose for preserving as confidential (any such period, a “Suspension Period”); provided,
however, that in no event shall any Suspension Periods collectively exceed an aggregate of 60 days in any 180-day period or
exceed an aggregate of 90 days in any 12-month period; provided, further, that the number of days that the Company may
so delay or suspend in accordance with this Section 2.3 in the 180-day period and 12-month period immediately following
the Closing Date shall be reduced by the number of days after the Required Shelf Filing Date that the Shelf Registration Statement
is declared or otherwise becomes effective.

 

    9

     

    

 

Section 2.4            Piggyback
Registration Rights.

 

(a)          Subject
to Section 2.4(c), if the Company at any time proposes to file an Underwritten Offering Filing for an Underwritten
Offering of shares of Common Stock for its own account or for the account of any other Persons who have or have been granted registration
rights, other than the Holders (a “Piggyback Underwritten Offering”), it will give written notice of such Piggyback
Underwritten Offering to each Holder, which notice shall include the anticipated filing date of the Underwritten Offering Filing
and, if known, the number of shares of Common Stock that are proposed to be included in such Piggyback Underwritten Offering, and
of such Holders’ rights under this Section 2.4(a). Such notice shall be given promptly (and in any event at least
five Business Days before the filing of the Underwritten Offering Filing or two Business Days before the filing of the Underwritten
Offering Filing in connection with a bought or overnight Underwritten Offering). If such notice is delivered to pursuant to this
Section 2.4(a), each such Holder shall then have four Business Days (or one Business Day in the case of a bought or
overnight Underwritten Offering) after the date on which the Holders received notice pursuant to this Section 2.4(a) to
request inclusion of Registrable Securities in the Piggyback Underwritten Offering (which request shall specify the maximum number
of Registrable Securities intended to be disposed of by such Holder and such other information as is reasonably required to effect
the inclusion of such Registrable Securities) (any such Holder making such request, a “Piggybacking Holder”).
If no request for inclusion from a Holder is received within such period, such Holder shall have no further right to participate
in such Piggyback Underwritten Offering. Subject to Section 2.4(c), the Company shall use its commercially reasonable
efforts to include in the Piggyback Underwritten Offering all Registrable Securities that the Company has been so requested to
include by the Piggybacking Holders; provided, however, that if, at any time after giving written notice of a proposed Piggyback
Underwritten Offering pursuant to this Section 2.4(a) and prior to the execution of an underwriting agreement
with respect thereto, the Company or such other Persons who have or have been granted registration rights, as applicable, shall
determine for any reason not to proceed with or to delay such Piggyback Underwritten Offering, the Company shall give written notice
of such determination to the Piggybacking Holders and (i) in the case of a determination not to proceed, shall be relieved
of its obligation to include any Registrable Securities in such Piggyback Underwritten Offering (but not from any obligation of
the Company to pay the Registration Expenses in connection therewith), and (ii) in the case of a determination to delay, shall
be permitted to delay inclusion of any Registrable Securities for the same period as the delay in including the shares of Common
Stock to be sold for the Company’s account or for the account of such other Persons who have or have been granted registration
rights, as applicable.

 

(b)          Each
Holder shall have the right to withdraw its request for inclusion of its Registrable Securities in any Piggyback Underwritten Offering
at any time prior to the execution of an underwriting agreement with respect thereto by giving written notice to the Company of
its request to withdraw. Any Holder may deliver written notice (an “Opt-Out Notice”) to the Company requesting
that such Holder not receive notice from the Company of any proposed Piggyback Underwritten Offering; provided, however,
that such Holder may later revoke any such Opt-Out Notice in writing. Following receipt of an Opt-Out Notice from a Holder (unless
subsequently revoked), the Company shall not, and shall not be required to, deliver any notice to such Holder pursuant to this
Section 2.4 and such Holder shall no longer be entitled to participate in any Piggyback Underwritten Offering.

 

(c)          If
the Managing Underwriter of the Piggyback Underwritten Offering shall inform the Company of its belief that the number of Registrable
Securities requested to be included in such Piggyback Underwritten Offering, when added to the number of shares of Common Stock
proposed to be offered by the Company or such other Persons who have or have been granted registration rights (and any other shares
of Common Stock requested to be included by any other Persons having registration rights on parity with the Piggybacking Holders
with respect to such offering), would materially adversely affect such offering, then the Company shall include in such Piggyback
Underwritten Offering, to the extent of the total number of securities which the Company is so advised can be sold in such offering
without so materially adversely affecting such offering, shares of Common Stock in the following priority:

 

    10

     

    

 

(i)           if
the Piggyback Underwritten Offering is for the account of the Company, first, all shares of Common Stock that the Company proposes
to include for its own account (the “Company Securities”), second, the shares of Common Stock that the Piggybacking
Holders propose to include (pro rata among the Piggybacking Holders based on the number of shares of Common Stock each requested
to be included), and third, the shares of Common Stock that other Persons who have or have been granted registration rights propose
to include (pro rata among such other Persons based on the number of shares of Common Stock each requested to be included);

 

(ii)          if
the notice of a Piggyback Underwritten Offering pursuant to Section 2.4(a) is given on or prior to the third (3rd)
anniversary of the Felix Closing Date, the Piggyback Underwritten Offering is for the account of any other Persons who have or
have been granted registration rights, first, all shares of Common Stock that the Piggybacking Holders propose to include (pro
rata among the Piggybacking Holders based on the number of shares of Common Stock each requested to be included), second, the
shares of Common Stock that such other Persons propose to include (pro rata among such other Persons based on the number
of shares of Common Stock each requested to be included), and third, the Company Securities; or

 

(iii)         if
the notice of a Piggyback Underwritten Offering pursuant to Section 2.4(a) is given after the third (3rd)
anniversary of the Felix Closing Date, the Piggyback Underwritten Offering is for the account of any other Persons who have or
have been granted registration rights, first, the shares of Common Stock that such other Persons propose to include (pro rata
among such other Persons based on the number of shares of Common Stock each requested to be included), second, all shares of Common
Stock that the Piggybacking Holders propose to include (pro rata among the Piggybacking Holders based on the number of shares
of Common Stock each requested to be included), and third, the Company Securities.

 

Section 2.5           Participation
in Underwritten Offerings.

 

(a)          In
connection with any Underwritten Offering contemplated by Section 2.2 or Section 2.4, the underwriting
agreement into which each Selling Holder and the Company shall enter into shall contain such representations, covenants, indemnities
(subject to Article III) and other rights and obligations as are customary in Underwritten Offerings of securities
by the Company, and the Company shall be entitled to designate counsel for the underwriters. No Selling Holder shall be required
to make any representations or warranties to or agreements with the Company or the underwriters other than representations, warranties
or agreements regarding such Selling Holder’s authority to enter into such underwriting agreement and to sell, and its ownership
of, the securities being registered on its behalf, its intended method of distribution and any other representation required by
law.

 

    11

     

    

 

(b)         Any
participation by the Piggybacking Holders in a Piggyback Underwritten Offering shall be in accordance with the plan of distribution
of the Company or the other Persons who have registration rights, as applicable.

 

(c)          In
connection with any Piggyback Underwritten Offering in which any Piggybacking Holder includes Registrable Securities pursuant to
Section 2.4, such Piggybacking Holder agrees (A) to supply any information reasonably requested by the Company
in connection with the preparation of a Registration Statement and/or any other documents relating to such registered offering
and (B) to execute and deliver any agreements and instruments being executed by all holders on substantially the same terms
reasonably requested by the Company or the Managing Underwriter, as applicable, to effectuate such registered offering, including,
without limitation, underwriting agreements (subject to Section 2.5(a)), custody agreements, powers of attorney, questionnaires,
and lock-ups or “hold back” agreements pursuant to which such Piggybacking Holder agrees with the Managing Underwriter
not to sell or purchase any securities of the Company for the shorter of (i) the same period of time following the registered
offering as is agreed to by the Company and the other participating holders (not to exceed the shortest number of days that any
director of the Company, “executive officer” (as defined under Section 16 of the Exchange Act) of the Company
or any stockholder of the Company (other than a Holder or director or employee of, or consultant to, the Company) who owns 10%
or more of the outstanding shares contractually agrees with the underwriters of such Piggyback Underwritten Offering not to sell
any securities of the Company following such Piggyback Underwritten Offering) and (ii) 60 days from the date of the execution
of the underwriting agreement with respect to such Piggyback Underwritten Offering.

 

Section 2.6           Registration
Procedures.

 

(a)          In
connection with its obligations under this Article II, the Company will take all reasonably necessary action to facilitate
and effect the transactions contemplated thereby, including, but not limited to, the following:

 

(i)           promptly
prepare and file with the Commission such amendments and supplements to such Registration Statement and the prospectus used in
connection therewith as may be necessary to keep such Registration Statement effective and to comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by such Registration Statement until such time as all
of such securities have been disposed of in accordance with the intended methods of disposition by the Selling Holder or Selling
Holder thereof set forth in such Registration Statement;

 

(ii)          furnish
to each Selling Holder, without charge, such number of conformed copies of such Registration Statement and of each such amendment
and supplement thereto (in each case including, without limitation, all exhibits), such number of copies of the prospectus contained
in such Registration Statement (including without limitation each preliminary prospectus and any summary prospectus) and any other
prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and such
other documents, as such Selling Holder may reasonably request;

 

    12

     

    

 

(iii)         if
applicable, use its commercially reasonable efforts to register or qualify all Registrable Securities and other securities covered
by such Registration Statement under such other securities or blue sky laws of such jurisdictions as each Selling Holder thereof
shall reasonably request, to keep such registration or qualification in effect for so long as such Registration Statement remains
in effect, and to take any other action which may be reasonably necessary or advisable to enable such Selling Holder to consummate
the disposition in such jurisdictions of the securities owned by such Selling Holder, except that the Company shall not for any
such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it would not
but for the requirements of this clause (iii) be obligated to be so qualified or to consent to general service of process
in any such jurisdiction;

 

(iv)        use
its commercially reasonable efforts to provide to each Selling Holder and any underwriters a copy of any customary auditor “comfort”
letters, legal opinions or reports of the independent petroleum engineers of the Company relating to the oil and gas reserves of
the Company;

 

(v)         promptly
notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act,
upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such Registration Statement,
as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein
or necessary to make the statements therein not misleading in the light of the circumstances under which they were made, and at
the request of any such Selling Holder promptly prepare and file or furnish to such Selling Holder a reasonable number of copies
of a supplement or post-effective amendment to the Registration Statement or a supplement to the related prospectus or any document
incorporated or deemed to be incorporated therein by reference, or file any other required document as may be necessary so that,
as thereafter delivered to the purchasers of such securities, such prospectus shall not include an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading
in the light of the circumstances under which they were made;

 

(vi)        otherwise
comply with all applicable rules and regulations of the Commission, and make available to its security holders, as soon as
reasonably practicable, an earnings statement, which earnings statement shall satisfy the provisions of Section 11(a) of
the Securities Act, and shall furnish to each such Selling Holder at least the Business Day prior to the filing thereof a copy
of any amendment or supplement to such Registration Statement or prospectus;

 

(vii)       provide
and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by such Registration Statement
from and after a date not later than the effective date of such Registration Statement;

 

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(viii)      in
connection with the preparation and filing of any Registration Statement or any sale of Registrable Securities in connection therewith,
the Company will give the Holders offering and selling thereunder, any underwriters and their respective counsels the opportunity
to review and provide comments on such Registration Statement, each prospectus included therein or filed with the Commission, and
each amendment thereof or supplement thereto (other than amendments or supplements that do not make any material change in the
information related to the Company) (provided that the Company shall not file any such Registration Statement including Registrable
Securities or an amendment thereto or any related prospectus or any supplement thereto to which such Holders or any underwriter
shall reasonably object in writing), and give each of them, together with any underwriter, broker, dealer or sales agent involved
therewith, such access to its books and records and such opportunities to discuss the business of the Company and its subsidiaries
with its officers, its counsel, the independent public accountants who have certified its financial statements, and the independent
petroleum engineers of the Company as shall be necessary, in the opinion of the Holder’s and such underwriters’ (or
broker’s, dealer’s or sales agent’s, as the case may be) respective counsel, to conduct a reasonable due diligence
investigation within the meaning of the Securities Act;

 

(ix)         use
its commercially reasonable efforts to prevent the issuance of any order suspending the effectiveness of the Registration Statement,
and, if any such order suspending the effectiveness of such Registration Statement is issued, shall promptly use its commercially
reasonable efforts to obtain the withdrawal of such order at the earliest possible moment;

 

(x)          promptly
notify the Holders (i) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration
Statement or the initiation or threat of any proceedings for that purpose, (ii) of any delisting or pending delisting of the
Common Stock by any national securities exchange or market on which the Common Stock are then listed or quoted, and (iii) of
the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities
for sale under the securities or “blue sky” laws of any jurisdiction or the initiation of any proceeding for such purpose;

 

(xi)          cause
all Registrable Securities covered by such Registration Statement to be listed on any securities exchange on which the Common Stock
is then listed;

 

(xii)        enter
into such customary agreements, including but not limited to lock-up agreements by the Company (and, if reasonably requested by
the Managing Underwriter(s), the Company’s directors and “executive officers” (as defined under Section 16
of the Exchange Act)) that extend through 60 days following the entrance into the corresponding underwriting agreement, and to
take such other actions as the Holder or Holders shall reasonably request in order to expedite or facilitate the disposition of
such Registrable Securities; and

 

(xiii)        cause
its officers to use their commercially reasonable efforts to support the marketing of the Registrable Securities covered by the
Registration Statement (including, without limitation, participation in electronic or telephonic “road shows”).

 

    14

     

    

 

(b)          Each
Holder agrees by acquisition of such Registrable Securities that upon receipt of any notice from the Company of the happening of
any event of the kind described in Section 2.6(a)(v), such Holder will forthwith discontinue such Holder’s disposition
of Registrable Securities pursuant to the Registration Statement until such Holder’s receipt of the copies of the supplemented
or amended prospectus contemplated by Section 2.6(a)(v) as filed with the Commission or until it is advised in
writing by the Company that the use of such Registration Statement may be resumed, and, if so directed by the Company, will deliver
to the Company (at the Company’s expense) all copies, other than permanent file copies, then in such Holder’s possession
of the prospectus relating to such Registrable Securities current at the time of receipt of such notice. The Company may provide
appropriate stop orders to enforce the provisions of this Section 2.6(b).

 

Section 2.7           Cooperation
by Holders . The Company shall have no obligation to include Registrable Securities of a Holder in any Registration
Statement or Underwritten Offering if such Holder has failed to timely furnish such information as the Company may, from time
to time, reasonably request in writing regarding such Holder and the distribution of such Registrable Securities that the Company
determines, after consultation with its counsel, is reasonably required in order for any registration statement or prospectus
supplement, as applicable, to comply with the Securities Act.

 

Section 2.8            Expenses.
The Company shall be responsible for all Registration Expenses incident to its performance of or compliance with its obligations
under this Article II. Each Selling Holder shall pay its pro rata share of all Selling Expenses in connection with
any sale of its Registrable Securities hereunder.

 

Section 2.9           Additional
Rights. The Company is not currently a party to and shall not hereafter enter into any agreement with respect to its securities
that in any way violates or subordinates rights granted to the Holders by this Agreement without the prior written consent of
the Majority Holders.

 

Article III

 

INDEMNIFICATION
AND CONTRIBUTION

 

Section 3.1           Indemnification
by the Company. The Company will indemnify and hold harmless each Holder, its officers and directors and each Person (if any)
that controls such Holder within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange
Act from and against any and all losses, claims, damages, liabilities, costs (including costs of preparation and attorneys’
fees and any legal or other fees or expenses incurred by such Person in connection with any investigation or Proceeding), expenses,
judgments, fines, penalties, charges and amounts paid in settlement (“Losses”) as incurred, caused by, arising
out of or based upon, resulting from or related to any untrue statement or alleged untrue statement of a material fact contained
in any Registration Statement or prospectus relating to the Registrable Securities (as amended or supplemented if the Company
shall have furnished any amendments or supplements thereto) or any preliminary prospectus, any filing made in connection with
the qualifications of the offering under the securities or other blue sky laws of any jurisdiction in which Registrable Securities
are offered, or any other offering document (including any related notification, or the like) incident to any such registration,
qualification, or compliance, or based on any or any omission or alleged omission to state therein a material fact required to
be stated therein or necessary to make the statements therein not misleading (in the case of any prospectus, in the light of the
circumstances under which such statement is made), or any violation by the Company of this Agreement, the Securities Act or the
Exchange Act, or any rule or regulation thereunder applicable to the Company and relating to action or inaction required
of the Company in connection with any such registration, qualification, or compliance, provided, however, that such indemnity
shall not apply to that portion of such Losses caused by, or arising out of, any untrue statement, or alleged untrue statement
or any such omission or alleged omission, to the extent such statement or omission was made in reliance upon and in conformity
with information furnished in writing to the Company by or on behalf of such Holder expressly for use therein.

 

    15

     

    

 

Section 3.2           Indemnification
by the Holders. Each Holder agrees to indemnify and hold harmless the Company, its officers and directors and each Person
(if any) that controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the
Exchange Act from and against any and all Losses caused by, arising out of, resulting from or related to any untrue statement
or alleged untrue statement of a material fact contained in any Registration Statement or prospectus relating to Registrable Securities
(as amended or supplemented if the Company shall have furnished any amendments or supplements thereto) or any preliminary prospectus,
or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements
therein not misleading (in the case of any prospectus, in the light of the circumstances under which such statement is made),
only to the extent such statement or omission was made in reliance upon and in conformity with information furnished in writing
by or on behalf of such Holder expressly for use therein.

 

Section 3.3           Indemnification
Procedures. In case any Proceeding (including any governmental investigation) shall be instituted involving any Person in
respect of which indemnity may be sought pursuant to Section 3.1 or Section 3.2, such Person (the “Indemnified
Party”) shall promptly notify the Person against whom such indemnity may be sought (the “Indemnifying Party”)
in writing (provided that the failure of the Indemnified Party to give notice as provided herein shall not relieve the Indemnifying
Party of its obligations under this Article III, except to the extent the Indemnifying Party is actually and materially
prejudiced by such failure to give notice), and the Indemnifying Party shall be entitled to participate in such Proceeding and,
unless in the reasonable opinion of outside counsel to the Indemnified Party a conflict of interest between the Indemnified Party
and Indemnifying Party may exist in respect of such claim, to assume the defense thereof jointly with any other Indemnifying Party
similarly notified, to the extent that it chooses, with counsel reasonably satisfactory to such Indemnified Party, and after notice
from the Indemnifying Party to such Indemnified Party that it so chooses, the Indemnifying Party shall not be liable to such Indemnified
Party for any legal or other expenses subsequently incurred by such Indemnified Party in connection with the defense thereof other
than reasonable costs of investigation; provided, however, that (i) if the Indemnifying Party fails to assume
the defense or employ counsel reasonably satisfactory to the Indemnified Party, (ii) if such Indemnified Party who is a defendant
in any action or Proceeding that is also brought against the Indemnifying Party reasonably shall have concluded that there may
be one or more legal defenses available to such Indemnified Party that are not available to the Indemnifying Party or (iii) if
representation of both parties by the same counsel is otherwise inappropriate under applicable standards of professional conduct
then, in any such case, the Indemnified Party shall have the right to assume or continue its own defense as set forth above (but
with no more than one firm of counsel for all Indemnified Parties in each jurisdiction, except to the extent any Indemnified Party
or Parties reasonably shall have concluded that there may be legal defenses available to such party or parties that are not available
to the other Indemnified Parties or to the extent representation of all Indemnified Parties by the same counsel is otherwise inappropriate
under applicable standards of professional conduct) and the Indemnifying Party shall be liable for any expenses therefor. No Indemnifying
Party shall, without the written consent of the Indemnified Party, effect the settlement or compromise of, or consent to the entry
of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution
may be sought hereunder (whether or not the Indemnified Party is an actual or potential party to such action or claim) unless
such settlement, compromise or judgment (A) includes an unconditional release of the Indemnified Party from all liability
arising out of such action or claim and (B) does not include a statement as to, or an admission of, fault, culpability or
a failure to act, by or on behalf of any Indemnified Party.

 

    16

     

    

 

Section 3.4            Contribution.

 

(a)          If
the indemnification provided for in this Article III is unavailable to an Indemnified Party in respect of any Losses
in respect of which indemnity is to be provided hereunder, then each Indemnifying Party, in lieu of indemnifying such Indemnified
Party, shall to the fullest extent permitted by law contribute to the amount paid or payable by such Indemnified Party as a result
of such Losses in such proportion as is appropriate to reflect the relative fault of such party in connection with the statements
or omissions that resulted in such Losses, as well as any other relevant equitable considerations. The relative fault of the Company
(on the one hand) and a Holder (on the other hand) shall be determined by reference to, among other things, whether the untrue
or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information
supplied by such party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission.

 

(b)          The
Company and each Holder agree that it would not be just and equitable if contribution pursuant to this Article III
were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations
referred to in Section 3.4(a). The amount paid or payable by an Indemnified Party as a result of the losses, claims,
damages or liabilities referred to in Section 3.4(a) shall be deemed to include, subject to the limitations set
forth above, any legal or other expenses reasonably incurred by such Indemnified Party in connection with investigating or defending
any such action or claim. Notwithstanding the provisions of this Article III, no Holder shall be liable for indemnification
or contribution pursuant to this Article III for any amount in excess of the net proceeds of the offering received
by such Holder, less the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such
fraudulent misrepresentation.

 

Article IV

 

RULE
144; ASSISTANCE WITH TRANSFERS.

 

Section 4.1           Rule 144.

 

    17

     

    

 

 

(a)            With
a view to making available the benefits of certain rules and regulations of the Commission that may permit the resale of the
Registrable Securities without registration, the Company agrees to use its commercially reasonable efforts to:

 

(i)            make
and keep public information regarding the Company available, as those terms are understood and defined in Rule 144 under the
Securities Act, at all times from and after the date hereof;

 

(ii)           file
with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the
Exchange Act at all times from and after the date hereof; and

 

(iii)          so
long as a Holder owns any Registrable Securities, furnish (i) to the extent accurate, forthwith upon request, a written statement
of the Company that it has complied with the reporting requirements of Rule 144 under the Securities Act and (ii) unless
otherwise available via the Commission’s EDGAR filing system, to such Holder forthwith upon request a copy of the most recent
annual or quarterly report of the Company, and such other reports and documents so filed as such Holder may reasonably request
in availing itself of any rule or regulation of the Commission allowing such Holder to sell any such securities without registration.

 

Section 4.2     Assistance
with Transfers. In connection with any sale or transfer of Registrable Securities by any Holder, including any sale or transfer
pursuant to Rule 144 and other rules and regulations of the Commission that may at any time permit a Holder of Registrable
Securities to sell securities of the Company to the public without registration, the Company shall, to the extent allowed by law,
take any and all action necessary or reasonably requested by such Holder in order to permit or facilitate such sale or transfer,
including, without limitation, at the sole expense of the Company, by (i) issuing such directions to any transfer agent,
registrar or depositary, as applicable, (ii) delivering such opinions to the transfer agent, registrar or depositary as are
customary for the transaction of this type and are reasonably requested by the same, and (iii) taking or causing to be taken
such other actions as are reasonably necessary (in each case on a timely basis) in order to cause any legends, notations or similar
designations restricting transferability of the Registrable Securities held by such Holder to be removed and to rescind any transfer
restrictions with respect to such Registrable Securities; provided, however, that such Holder shall deliver to the Company,
in form and substance reasonably satisfactory to the Company, representation letters regarding such Holder's compliance with such
rules and regulations, as may be applicable. In addition, the Company, at its sole expense, shall use commercially reasonable
efforts to remove any restrictive legend on any shares of Common Stock that are Registrable Securities upon request by the Holder
if (A) such shares of Common Stock are sold pursuant to an effective registration statement or (B) a registration statement
covering the resale of such shares of Common Stock is effective under the Securities Act and the applicable Holder delivers to
the Company a representation letter agreeing that such shares of Common Stock will be sold under such effective registration statement.

 

    	 	18	 

     

    

 

Article V

 

TRANSFER
OR ASSIGNMENT OF RIGHTS

 

The rights to cause
the Company to register Registrable Securities under Article II of this Agreement may be transferred or assigned
by each Holder to one or more Transferees or assignees of Registrable Securities if such Transferee is (i) a Permitted Transferee
or (ii) acquiring at least $100 million of Registrable Securities as determined by reference to the volume weighted average
price for such Registrable Securities on any securities exchange or market on which the Common Stock are then listed or quoted
for the five trading days immediately preceding the applicable determination date (the “5-Day VWAP”) and such
Transferee has delivered to the Company a duly executed Adoption Agreement; provided, that a Holder’s rights under
Section 2.2 and Section 2.4 may only be transferred if such Transferee is (i) an Affiliate of the
Investor; or (ii) is acquiring at least $100 million of Registrable Securities as determined by the 5-Day VWAP.

 

Article VI

 

MISCELLANEOUS

 

Section 6.1     Termination.
This Agreement shall terminate as to any Holder, when such Holder no longer owns any shares of Common Stock that constitute Registrable
Securities; provided, however, that Article III shall survive any termination hereof.

 

Section 6.2     Severability.
If any provision of this Agreement shall be determined to be illegal and unenforceable by any court of law, the remaining provisions
shall be severable and enforceable in accordance with their terms.

 

Section 6.3     Remedies.
In the event of actual or potential breach by the Company of any of its obligations under this Agreement, each Holder, in addition
to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages, will be entitled
to specific performance of its rights under this Agreement. The Company agrees that monetary damages would not provide adequate
compensation for any losses incurred by reason of a breach by it of any of the provisions of this Agreement and further agrees
that, in the event of any action for specific performance in respect of such breach, it shall waive the defense that a remedy
at law would be adequate.

 

Section 6.4     Governing
Law; Waiver of Jury Trial.

 

(a)            This
Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to principles
of conflicts of laws that would direct the application of the laws of another jurisdiction.

 

(b)            THE
PARTIES HEREBY WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PARTY AGAINST ANOTHER IN ANY MATTER
WHATSOEVER ARISING OUT OF OR IN RELATION TO OR IN CONNECTION WITH THIS AGREEMENT. FURTHER, NOTHING HEREIN SHALL DIVEST A COURT
OF COMPETENT JURISDICTION OF THE RIGHT AND POWER TO GRANT A TEMPORARY RESTRAINING ORDER, TO GRANT TEMPORARY INJUNCTIVE RELIEF,
OR TO COMPEL SPECIFIC PERFORMANCE OF ANY DECISION OF AN ARBITRAL TRIBUNAL MADE PURSUANT TO THIS PROVISION.

 

    	 	19	 

     

    

 

Section 6.5     Adjustments
Affecting Registrable Securities. The provisions of this Agreement shall apply to any and all shares of capital stock
of the Company or any successor or assignee of the Company (whether by merger, consolidation, sale of assets or otherwise) that
may be issued in respect of, in exchange for or in substitution for the Registrable Securities, by reason of any stock dividend,
split, reverse split, combination, recapitalization, reclassification, merger, consolidation or otherwise in such a manner and
with such appropriate adjustments as to reflect the intent and meaning of the provisions hereof and so that the rights, privileges,
duties and obligations hereunder shall continue with respect to the capital stock of the Company as so changed.

 

Section 6.6     Binding
Effects; Benefits of Agreement. This Agreement shall be binding upon and inure to the benefit of the Company and its
successors and assigns and each Holder and its successors and assigns. Except as provided in Article V, neither this
Agreement nor any of the rights, benefits or obligations hereunder may be assigned or transferred, by operation of law or otherwise,
by any Holder without the prior written consent of the Company.

 

Section 6.7     Notices.
All notices or other communications that are required or permitted hereunder shall be in writing and shall be deemed to have been
given if (i) personally delivered, (ii) sent by nationally recognized overnight courier, (iii) sent by registered
or certified mail, postage prepaid, return receipt requested or (iv) email, addressed as follows:

 

(a)           If
to the Company, to:

 

Devon Energy Corporation 

333 West Sheridan Avenue 

Oklahoma City, Oklahoma 73102 

Attention: Jeffrey L. Ritenour;
Lyndon C. Taylor; Edward Highberger 

Email: Jeff.Ritenour@dvn.com; lyndon.taylor@dvn.com;
Edward.Highberger@dvn.com

 

with copies to (which shall not
constitute notice):

 

Skadden, Arps, Slate, Meagher &
Flom LLP

1000 Louisiana Street

Suite 6800

Houston, Texas 77002

Attention: Frank Ed Bayouth II

Email: Frank.Bayouth@skadden.com

 

    	 	20	 

     

    

 

(b)           If
to the Investor, to

 

Felix
Investments Holdings II, LLC

1530 16th Street

Suite 500

Denver, Colorado 80202

Attention:     John D. McCready

Email:     johnm@felix-energy.com

 

with copies to (which shall not
constitute notice):

 

Vinson &
Elkins L.L.P.

1001 Fannin, Suite 2500

Houston, Texas 77002

Attention:     Douglas E. McWilliams and W. Matthew Strock

E-mail:     dmcwilliams@velaw.com; mstrock@velaw.com

 

(c)           If
to any other Holders, to their respective addresses set forth on the applicable Adoption Agreement;

 

or to such other address as the party to
whom notice is to be given may have furnished to such other party in writing in accordance herewith. Any such communication shall
be deemed to have been received (i) when delivered, if personally delivered, (ii) on the date sent if delivered by e-mail
on a Business Day, or if not sent on a Business Day, on the first Business Day thereafter, (iii) the next Business Day after
delivery, if sent by nationally recognized overnight courier, and (iv) on the third (3rd) Business Day following the date
on which the piece of mail containing such communication is posted, if sent by first-class mail.

 

Section 6.8     Modification;
Waiver. This Agreement may be amended, modified or supplemented only by a written instrument duly executed by the Company
and the Majority Holders. No course of dealing between the Company and the Holders (or any of them) or any delay in exercising
any rights hereunder will operate as a waiver of any rights of any party to this Agreement. The failure of any party to enforce
any of the provisions of this Agreement will in no way be construed as a waiver of such provisions and will not affect the right
of such party thereafter to enforce each and every provision of this Agreement in accordance with its terms.

 

Section 6.9     Entire
Agreement. Except as otherwise expressly provided herein, this Agreement constitutes the entire agreement among the
parties pertaining to the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings of
the parties in connection therewith.

 

Section 6.10     Counterparts.
This Agreement may be executed in any number of counterparts, and each such counterpart shall be deemed to be an original instrument,
but all such counterparts taken together shall constitute but one agreement.

 

[signature page follows]

 

    	 	21	 

     

    

 

IN WITNESS WHEREOF,
each of the Parties has caused this Agreement to be executed by its undersigned duly authorized representative as of the date first
written above.

 

	 	DEVON ENERGY CORPORATION
	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Signature
Page To Registration Rights Agreement

 

    	 		 

     

    

 

	 	FELIX INVESTMENTS HOLDINGS II, 
	 	LLC
	 
	 	By:	 
	 	 	Name: John D. McCready
	 	 	Title: Chief Executive Officer

 

Signature
Page To Registration Rights Agreement

 

    	 		 

     

    

 

EXHIBIT A

 

ADOPTION AGREEMENT

 

This Adoption Agreement
(“Adoption Agreement”) is executed by the undersigned transferee (“Transferee”) pursuant
to the terms of the Registration Rights Agreement, dated as of [●], 2020, among Devon Energy Corporation (the “Company”),
Felix Investment Holdings II, LLC and the Holders party thereto (as amended from time to time, the “Registration Rights
Agreement”). Terms used and not otherwise defined in this Adoption Agreement have the meanings set forth in the Registration
Rights Agreement.

 

By the execution of
this Adoption Agreement, the Transferee agrees as follows:

 

		2.	Acknowledgement. Transferee acknowledges that Transferee is acquiring certain shares of
Common Stock of the Company, subject to the terms and conditions of Registration Rights Agreement, among the Company and the Holders
party thereto.

 

		3.	Agreement. Transferee (i) agrees that the shares of Common Stock of the Company acquired
by Transferee shall be bound by and subject to the terms of the Registration Rights Agreement, pursuant to the terms thereof, and
(ii) hereby adopts the Registration Rights Agreement with the same force and effect as if he, she or it were originally a
party thereto.

 

		4.	Notice. Any notice required as permitted by the Registration Rights Agreement shall be given
to Transferee at the address listed beside Transferee’s signature below.

 

		5.	Joinder. The spouse of the undersigned Transferee, if applicable, executes this Adoption
Agreement to acknowledge its fairness and that it is in such spouse’s best interest, and to bind such spouse’s community
interest, if any, in the shares of Common Stock and other securities referred to above and in the Registration Rights Agreement,
to the terms of the Registration Rights Agreement.

 

	Signature:	 
	 	 
	 	 
	 	 
	 	 
	 	 
	Address:	 
	Contact Person:	 
	Telephone No:	 
	Email:

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