Document:

EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 
 This EMPLOYMENT
AGREEMENT (“Agreement”) is made as of December 24, 2014, by and among West Corporation (“Company”), a Delaware corporation, and Jan Madsen (“Executive”) (collectively hereinafter “the parties”). 

WHEREAS, Company wishes to employ Executive as Chief Financial Officer on the terms and conditions set forth in this Agreement; and 

WHEREAS, Executive wishes to accept such employment on the terms and conditions set forth in this Agreement; 

NOW THEREFORE, the parties agree as follows: 
  

	I.	Employment Duties and Term. 

 A. Duties. Company agrees to employ Executive as Successor
Chief Financial Officer of Company until such time as the current Chief Financial Officer resigns or April 1, 2015 whichever is earlier. At such time Executive will be appointed the Chief Financial Officer. Executive shall perform for or on
behalf of Company such duties as are customary for such position and such other duties as Company shall assign from time to time, including duties for other entities which now are, or in the future may be, affiliated with Company (the
“Affiliates”). Executive shall perform such duties in accordance with Company’s policies and practices, including but not limited to its employment policies and practices, and subject only to such limitations, instructions,
directions, and control as the Company may specify from time to time at its discretion. Executive shall serve Company and the Affiliates faithfully, diligently and to the best of his/her ability. Executive shall devote all working time, ability, and
attention to the business of Company during the term of this Agreement and shall not, directly or indirectly, render any services to or for the benefit of any other business, corporation, organization, or entity, whether for compensation or
otherwise, that appears to create a conflict between the interests of the Company and Executive, without the prior knowledge and written consent of Company. 

B. Term. The initial term of this Agreement shall be for the period commencing on December 24, 2014 (“Commencement Date”), and
ending on December 31, 2015, unless terminated at an earlier date pursuant to an event described in Section III of this Agreement (referred to hereafter as the “Initial Term”). Upon expiration of the Initial Term, this Agreement shall
automatically renew for successive one year periods (referred to hereinafter as “Renewal Terms”) unless, not less than sixty (60) days before expiration of the Initial Term or any of the Renewal Terms, a party to this Agreement
provides written notice otherwise to the other party. 
  

	II.	Compensation. 

 Company agrees to pay to Executive and Executive agrees to accept the following amounts
as compensation in full for Executive’s performance of his/her duties: 

 A. Base Compensation. During the Initial Term and any Renewal Term, Company shall pay to
Executive an annual base salary (“Base Salary”) as set forth in the applicable Exhibit A incorporated herein as if fully set forth in this paragraph. 

B. Additional Compensation. Executive shall be eligible to receive discretionary bonuses as determined by the Company in its sole discretion
provided nothing contained herein shall be construed as a commitment by the Company to declare or pay any such bonuses. Payment of any bonus described in this section shall be earned and calculated pursuant to the applicable Exhibit A. Executive
shall not earn any bonus described in the applicable Exhibit A during the first ninety (90) days of employment or the first ninety (90) days of each calendar year. Annual bonuses shall be paid not later than
2 1⁄2 months after the end of the fiscal year in which they are earned; provided that the Company may, at its discretion, advance projected annual bonuses at
any time. If the Executive is no longer an employee of Company for any reason, upon Executive’s termination of such employment, Executive will have earned and will be paid the pro-rata portion of the bonus, paid not later than 2 1⁄2 months after the end of the fiscal year in which such bonus is earned, based upon performance of the Company through the date of termination and the weekly
performance projections for the remainder of the calendar year as of the second Friday following the date of termination, as applied to the terms and conditions of the applicable Exhibit A, excluding the first ninety (90) days of employment and
the first ninety (90) days of each calendar year (the “Earned Bonus”). 
 C. Relocation Expenses. Company shall reimburse
Executive for the expenses he/she and his/her family incur in relocating to the metropolitan area as required by the job in accordance with Company’s Relocation Plan and/or as otherwise agreed by Company. Executive agrees to reimburse Company
for relocation expenses Company paid based on the following schedule if Executive voluntarily terminates his employment without Good Reason (as defined herein) or is terminated for Cause (as defined herein) within two years after the Commencement
Date: one year or less after the Commencement Date—100% reimbursement; more than one year but less than two years after the Commencement Date—50% reimbursement. 

D. Other Benefits. In addition to the foregoing, Company will provide Executive with employment benefits and vacation entitlements during the
term of this Agreement commensurate with Executive’s position in the Company and the location of the Executive. Executive will be entitled to no fewer than 21 days Paid Time Off (PTO) during the Initial Term and each subsequent Renewal Term.
Any PTO used by Executive shall be deducted from payment pursuant to III.A.1(ii) below regardless of whether Executive recorded such time in the Company’s labor management system. 

 

	III.	Termination. 

 The terms of this Agreement shall be for the period set out in Section I unless earlier
terminated in one of the following ways: 
 A. Death. This Agreement shall immediately terminate upon the death of Executive. Upon a
termination of the Agreement due to Executive’s death, Executive’s heirs, executors or administrators, as the case may be, shall be entitled to: 

  
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 1. (i) Executive’s Base Salary earned through the date of termination, to the extent not
theretofore paid, (ii) any accrued but unused vacation as of the date of termination, (iii) Executive’s annual bonus under the Company’s or its Affiliates’ annual bonus plan earned with respect to the fiscal year immediately
prior to the fiscal year in which the date of termination occurs, to the extent not theretofore paid and (iv) any employee benefits to which the Executive was entitled on the date of termination in accordance with the terms of the plans and
programs of the Company, in each case payable within 60 days after the date of death or at such other time at which such amounts are payable pursuant to the terms of an applicable plan or program of the Company (the “Accrued Obligations”);
and 
 2. the Earned Bonus for the year in which Executive’s date of death occurs. 

B. Voluntary Termination Without Good Reason. If Executive voluntarily terminates his/her employment for a reason other than Good Reason (as
defined herein) and provides the Company (and does not revoke) an executed release pursuant to Section III.I., then Executive shall receive the following severance pay (subject to any applicable payroll or other taxes required to be withheld): 

1. the Accrued Obligations; and 

2. the Earned Bonus for the year in which Executive’s date of termination occurs. 

C. Involuntary Termination Without Cause or Voluntary Termination for Good Reason. If the Company terminates this Agreement without Cause (as
defined below) or if Executive terminates this Agreement with Good Reason (as defined below), and in either case Executive provides (and does not revoke) an executed release pursuant to Section III.I., then Executive shall receive the following
severance pay (subject to any applicable payroll or other taxes required to be withheld): 
 1. the Accrued Obligations; 

2. Provided Executive complies with the covenants set forth in Section IV of this Agreement, an amount equal to one (1) times the
Executive’s Base Salary, payable in equal installments on the Company’s regular pay dates, for the one-year period beginning on the date of termination, plus an amount equal to the projected annual bonus payable to Executive as of the date
of termination, determined based on the weekly performance projection for the remainder of the calendar year as of the second Friday following the date of termination, as applied to the terms and conditions of the applicable Exhibit A, which amount
shall be payable in a lump sum payment no later than 2 1⁄2 months after the end of the fiscal year in which such bonus is earned. 

D. For purposes of this Agreement, Executive shall have “Good Reason” to terminate this Agreement if one of the following events
occurs without the Executive’s express written consent: 

  
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 1. both (i) a reduction in any material respect in the Executive’s position(s), duties
or responsibilities with the Company, and (ii) an adverse material change in the Executive’s reporting responsibilities, titles or offices with the Company; 

2. a reduction of 20 percent (20%) or more in the Executive’s rate of annual Base Salary other than a reduction made after the
Company determines such reduction is a reasonably necessary step or component to address potential breaches or violations of any debt covenants; or 

3. any requirement of the Company that the Executive be based more than 50 miles from the facility where the Executive is based as of the
Commencement Date. 
 In order to terminate this Agreement for Good Reason, Executive must first satisfy the following notice and opportunity to cure
requirements. Before terminating this Agreement and his/her employment hereunder for Good Reason, Executive must give written notice to Company as to the details of the basis for such Good Reason within thirty (30) days following the date on
which Executive alleges the event giving rise to such Good Reason occurred, and Company must fail to provide a reasonable cure within thirty (30) days after its receipt of such notice. 

E. Termination for Cause. Company, upon written notice to Executive, may terminate the employment of Executive at any time for Cause. For
purposes of this Paragraph, “Cause” shall be deemed to exist if, and only if, the President of the Company and the Chief Executive Officer of West Corporation, in good faith, determine that Executive has engaged, during the performance of
his/her duties hereunder, in significant objective acts or omissions constituting dishonesty, willful misconduct, or gross negligence relating to the business of Company. 

F. If Company terminates this Agreement and Executive’s employment hereunder for Cause (as defined herein), then Executive shall be
entitled only to the Accrued Obligations. Executive hereby agrees that no bonus shall be earned in the calendar year in which the Executive is terminated for Cause. 

G. Failure to Renew. If the Executive provides notice to the Company of his/her election not to renew the Agreement following the expiration of
the Initial Term or any Renewal Term, the Company shall have no obligations under the Agreement upon or after the expiration of the Agreement. If the Company provides notice to the Executive of its election not to renew the Agreement following the
expiration of the Initial Term or any Renewal Term and the Executive’s employment with the Company is terminated by the Company without Cause within twelve months after the date of such notice, such termination shall be treated as an
Involuntary Termination without Cause and the Executive shall be entitled to the payments set forth in Section III.C. of the Agreement, notwithstanding the expiration of the Agreement. 

H. Transfers within Company or any of its Affiliates. In the event Executive and Company agree that Executive will transfer to another position
within Company or any of its Affiliates, the terms of this Agreement, other than the applicable Exhibit A in effect at the time of the transfer, shall remain in effect and govern Executive’s relationship with Company or any of its Affiliates in
his/her new position. Upon Executive’s transfer to another position within 

  
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Company or any of its Affiliates, Company shall be obligated under this Agreement and the applicable Exhibit A at the time of transfer only to pay Executive’s Base Salary earned through the
date of transfer and any Earned Bonus through the end of the month immediately preceding the date of transfer, determined in accordance with Section II.B., and to reimburse Executive for expenses properly incurred through the date of transfer.
Executive and the Affiliate to which Executive’s employment is transferred may agree to a new Exhibit A covering Executive’s new position to replace the Exhibit A in effect at the time of transfer. In the event no such Exhibit A is agreed
upon, Executive will be entitled to the same Base Salary as Executive was receiving at the time of the transfer, but shall not be entitled to earn any further bonus or have any other rights under the Exhibit A previously in effect. 

I. Additional Terms. Upon termination for any reason Executive (i) agrees to provide reasonable cooperation to Company at Company’s
expense in winding up Executive’s work for Company and transferring that work to other individuals as designated by Company, and (ii) agrees reasonably to cooperate with Company in litigation as requested by Company. 

To be eligible for any severance pay under this section, Executive must (i) execute and deliver to Company, within 45 days after
Executive’s date of termination, a final and complete release in a form that is acceptable and approved by Company (and not revoke such release), and (ii) in Company’s good faith belief, be in full compliance with his/her Restrictive
Covenants of Section IV below. 
  

	IV.	Restrictive Covenants. 

 A. Confidential Information. In the course of Executive’s
employment, Executive will be provided with certain information, technical data and know-how regarding the business of Company and its Affiliates and their products, all of which is confidential (hereinafter referred to as “Confidential
Information”). Independent of any obligation under any other section of the Agreement, Executive agrees to receive, hold and treat all Confidential Information received from Company and its Affiliates as confidential and secret and agrees to
protect the secrecy of said Confidential Information. Executive agrees that the Confidential Information will be disclosed only to those persons who are required to have such knowledge in connection with their work for Company and that such
Confidential Information will not be disclosed to others without the prior written consent of the Company. The provisions hereof shall not be applicable to: (a) information which at the time of disclosure to Executive is a matter of public
knowledge; or (b) information which, after disclosure to Executive, becomes public knowledge other than through a breach of this Agreement. Unless the Confidential Information shall be of the type herein before set forth, Executive shall not
use such Confidential Information for his/her own benefit or for a third party’s or parties’ benefit at any time. Upon termination of employment, Executive will return all books, records and other materials provided to or acquired by or
created by Executive during the course of employment which relate in any way to Company or its business. The obligations imposed upon Executive by this paragraph shall survive the expiration or termination of this Agreement. 

B. Covenant Not to Compete. The parties understand that as a part of his/her job duties, Executive will be exposed to certain Confidential
Information, client and potential client relationships, and supplier, licensee, or other business relationships of the Company and its 

  
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Affiliates (some of which may be developed by Executive in the course of Executive’s employment). Employee acknowledges such information is the sole and exclusive property of the Company
constituting valuable, special and unique property of the Company in which the Company has and will have a protectable interest. The parties therefore agree that it is necessary to enter into this Agreement to protect the Company’s interests.
Independent of any obligation under any other contract or agreement between Executive and the Company, during the term of this Agreement, and for a period of one (1) year following the separation of his/her employment with the Company, the
Executive shall not: 
 1. directly or indirectly, for himself/herself, or as agent of, or on behalf of, or in connection with, any person,
firm, association or corporation, directly or indirectly contact, solicit business from, or in any way do business with any customer, prospective customer, or account of the Company or any of its Affiliates with whom Executive had personal contact
during the course of his/her employment with Company; or 
 2. directly or indirectly, for himself/herself, or as agent of, or on behalf of,
or in connection with, any person, firm, association or corporation, induce or attempt to induce any supplier, licensee or other business relation of the Company or any of its Affiliates with whom Executive had personal contact during the course of
his/her employment with Company, to cease doing business with the Company or any of its Affiliates or in any way interfere with the Company’s relationship or cause Company’s costs to increase with any such supplier, licensee, or other
business relation of the Company. 
 Executive further acknowledges that in view of the nature of the business in which the Company is engaged, the
restrictions contained in this section are reasonable and necessary in order to protect the legitimate interests of the Company. Executive further acknowledges and agrees that any violation of this section will result in irreparable injuries to the
Company. Executive, therefore, acknowledges that in the event of his/her violation of the provisions of this section, the Company shall be entitled to obtain from any court of competent jurisdiction preliminary and permanent injunctive relief as
well as attorneys’ fees and damages and an equitable accounting of all earnings, profits and other benefits arising from such violation, which rights shall be cumulative and in addition to any other rights or remedies to which the Company may
be entitled. In addition to other available remedies, Executive’s breach of this section shall entitle Company to return of any amounts paid pursuant to Section III.B., III.C. or III.G. of this Agreement. 

C. Developments. 
 1. Executive
will make full and prompt disclosure to Company of all inventions, improvements, discoveries, methods, developments, software and works of authorship, whether patentable or not, which are created, made, conceived, reduced to practice by Executive or
under his/her direction or jointly with others during his/her employment by Company, whether or not during normal working hours or on the premises of Company which relate to the business of Company as conducted from time to time (all of which are
collectively referred to in this Agreement as “Developments”). 

  
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 2. Executive agrees to assign, and does hereby assign, to Company (or any person or entity
designated by Company) all of his/her right, title and interest in and to all Developments and all related patents, patent applications, copyrights and copyright applications. 

3. Executive agrees to cooperate fully with Company, both during and after his/her employment with Company, with respect to the procurement,
maintenance and enforcement of copyrights and patents (both in the United States and foreign countries) relating to Developments. Executive shall sign all papers, including, without limitation, copyright applications, patent applications,
declarations, oaths, formal assignments, assignment or priority rights, and powers of attorney, which Company may deem necessary or desirable in order to protect its rights and interest in any Developments. 

D. Diversion of Employees. During the term of Executive’s employment under this Agreement, and for a period of one (1) year after the
termination of his/her employment with the Company for any reason whatsoever, Executive will not, directly or indirectly, (i) induce or attempt to influence any person employed by Company or any of its Affiliates to terminate his or her
relationship with the Company; (ii) employ or recommend for employment (other than in response to potential employers seeking job references about employees they specifically identify by name) any person employed by Company or any of its
Affiliates; or (iii) identify for purposes of employment any person employed by Company or any of its Affiliates. The purpose and intent of the provisions of this section is to prevent Executive, in any capacity or relationship, from
participating in or encouraging, in any manner, the hiring of any person employed by Company or any of its Affiliates by any other entity or person for a period of one (1) year after termination of his/her employment with the Company. The
provisions of this section shall survive the termination or cancellation of this Agreement or of Executive’s employment. 
 Executive acknowledges that
in the event of his/her violation of the provisions of this section, the Company shall be entitled to obtain from any court of competent jurisdiction preliminary and permanent injunctive relief as well as attorneys’ fees and damages, which
rights shall be cumulative and in addition to any other rights or remedies to which the Company may be entitled. In addition to other available remedies, Executive’s breach of this section shall entitle Company to return of any amounts paid
pursuant to Sections III.B., III.C. or III.G. of this Agreement (other than the Earned Bonus and Accrued Obligations). 
  

	V.	General Provisions. 

 A. Non-Waiver. The failure of either party to insist in any one or
more instances upon performance of any of the terms or conditions of this Agreement shall not be construed as a waiver or a relinquishment of any right granted hereunder, or of the future performance of any such term, covenant or condition, but the
obligations of either party with respect thereto shall continue in full force and effect. 
 B. Successors. This Agreement shall inure to the
benefit of and be binding upon Company, its successors, and assigns, including without limitation, any person, partnership, or corporation that may acquire voting control of Company or all or substantially all of its assets and business, or that may
be a party to any consolidation, merger, or other transaction. 

  
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 C. Entire Agreement. This Agreement constitutes the entire agreement between the parties hereto
with respect to the subject matter hereof and supersedes all prior agreements and understandings, if any, between the parties with respect to the employment of the Executive by the Company, whether oral or written. This Agreement may not be modified
or amended other than by an agreement in writing signed by both parties. 
 D. Applicable Law. This Agreement shall be governed by the laws
of the State where Company’s principal office is located. 
 E. Taxes. Any payments or benefits under this Agreement shall be subject to
all applicable taxes and other withholding obligations and the Company is authorized to withhold any such amounts as may be required by applicable law. Notwithstanding any provision in this Agreement to the contrary, this Agreement shall be
interpreted and administered in accordance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and regulations and other guidance issued thereunder to the extent applicable. For purposes of determining
whether any payment made pursuant to this Agreement results in a “deferral of compensation” within the meaning of Treasury Regulation §1.409A-1(b), the Company shall maximize the exemptions described in such section, as applicable.
The Company does not warrant or promise compliance with Section 409A of the Code and neither Executive nor any other person shall have any claim against the Company for any action taken by the Company to comply with Section 409A. By
entering into this Agreement, Executive releases the Company, its Board, its employees and agents from and against any liability related to any failure to follow the requirements of Section 409A or any guidance or regulations thereunder, unless
such failure was the result of an action or failure to act that was undertaken by the Company in bad faith. Any reimbursements or in-kind benefits to be provided pursuant to this Agreement that are taxable to Executive shall be subject to the
following restrictions: (i) each reimbursement must be paid no later than the last day of the calendar year following the calendar year during which the expense was incurred or tax was remitted, as the case may be; and (ii) the amount of
expenses or taxes eligible for reimbursement, or in kind benefits provided, during a calendar year may not affect the expenses or taxes eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year. Notwithstanding any
other provision of this Agreement, if Executive is a “specified employee”, as defined in Section 409A of the Code, as of the date of Executive’s separation from service, then to the extent any amount payable under this Agreement
(i) constitutes the payment of nonqualified deferred compensation, within the meaning of Section 409A of the Code, (ii) is payable upon Executive’s separation from service, and (iii) under the terms of this Agreement would
be payable prior to the six-month anniversary of Executive’s separation from service, such payment shall be delayed until the earlier to occur of (a) the six-month anniversary of the separation from service or (b) the date of
Executive’s death. To the extent that any amounts are payable under this Agreement by reference to Executive’s termination of employment, such termination of employment shall occur at the time of Executive’s “separation from
service”, within the meaning of Section 409A of the Code. 
 F. Construction. The language in all parts of this Agreement shall in
all cases by construed as a whole according to its fair meaning, strictly neither for nor against either party hereto, and without implying a presumption that the terms thereof shall be more strictly construed against one party by reason of the rule
of construction that a document is to be construed more strictly against the person whom himself or through his agent prepared the same. 

  
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 G. Severability. If any portion of this Agreement shall be invalid or unenforceable, the parties
agree that such invalidity or unenforceability shall in no way affect the validity or enforceability of any other portion of this Agreement. 

H. Notice. For purposes of this Agreement, all notices and other communications required or permitted hereunder shall be in writing and shall
be deemed to have been duly given when delivered or 5 days after deposit in the United States mail, certified and return receipt requested, postage prepaid, addressed as follows: 

 

					
		 	If to Executive:	  	 Jan Madsen
 603 N. 159th Street
 Omaha, NE 68118

			
		 	If to the Company:	  	 Chief Executive Officer
 West Corporation

11808 Miracle Hills Drive
 Omaha, Nebraska 68154

 
 With a copy to:

General Counsel
 West Corporation

Fax (402) 963-1211

 Either party may change its address for notice by giving notice in accordance with the terms of this section.

 I. Assignment. Except as expressly provided herein, neither this Agreement nor any rights, benefits, or obligations hereunder may be
assigned by Executive without the prior written consent of Company. 
 J. Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but which together shall constitute one and the same instrument. 
 K.
Miscellaneous. Executive acknowledges that: 
 1. He/She has consulted with or had an opportunity to consult with an
attorney of Executive’s choosing regarding this Agreement. 
 2. He/She will receive substantial and adequate
consideration for his/her obligations under this Agreement. 
 3. He/She believes the obligations, terms and conditions
hereof are reasonable and necessary for the protectable interests of Company and are enforceable. 
 4. This Agreement
contains restrictions on his/her post-employment activities. 

  
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 IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto at the place and date
specified immediately adjacent to their respective names. 
  

			
	Executed this 24 day of	  	 /s/ Jan Madsen

	December, 2014	  	Jan Madsen, Executive
		
	Executed this 24 day of	  	 /s/ Tom Barker

	December, 2014	  	Tom Barker, Company

  
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	To:	  	Jan Madsen	  	
	From:	  	Tom Barker	  	
	Date:	  	December 24, 2014	  	
			
	Re:	  	Exhibit A	  	

 This Exhibit A is entered into pursuant to your Employment Agreement for the remainder of 2014. Your annual base salary for
2014 is $400,000. You will not be entitled to any bonus in 2014. 
 No later than April 1, 2015 you will be provided an Exhibit A, approved by the
Company Compensation Committee, setting forth your compensation for 2015. Your 2015 Exhibit A will have terms no less favorable than the following: 
  

	 	1.	Your base salary for 2015 will be $400,000. 

  

	 	2.	You will be eligible to earn a bonus based upon Company performance. Your target bonus for 2015 will be $400,000. The amount of the bonus will be based upon performance of the Company. The methodology for calculating
your bonuses will be set forth in your 2015 Exhibit A. Seventy Five percent (75%) of your projected pro-rata bonus will be advanced on a quarterly basis. 

  

	 	3.	At the discretion of the Compensation Committee of the Board of Directors of West Corporation, you may receive an additional bonus based on the Company’s and your individual performance. 

 

	
	 /s/ Jan Madsen

	Employee – Jan MadsenEXHIBIT 10.1

SIXTH EXTENSION AGREEMENT

 

This AGREEMENT (this “Agreement”) is dated as of December 31, 2014 and made between:

 

	(1)	FAR EAST ENERGY (BERMUDA), LTD., a company incorporated in Bermuda with its registered office at Clarendon House, 2 Church Street, Hamilton HM II, Bermuda with registration number 36700 (the “Borrower”);

 

	(2)	FAR EAST ENERGY CORPORATION, a company incorporated in the State of Nevada, United States of America, with its registered office at 711 S. Carson Street, Suite 4, Carson City, Nevada with registration number NV20001201882 (the “Guarantor”); and

 

	(3)	STANDARD CHARTERED BANK as lender (the “Lender”).

 

PRELIMINARY STATEMENTS:

 

	(A)	The Borrower, the Guarantor and the Lender are parties to that certain Facility Agreement dated as of November 28, 2011 as amended by an Amendment Letter Agreement dated as of May 21, 2012, as further amended by a Second Amendment to Facility Agreement dated as of November 28, 2012, as further amended by a Third Amendment to Facility Agreement dated as of December 18, 2012, as further amended by a Fourth Amendment to Facility Agreement dated as of January 8, 2013, as further amended by a Fifth Amendment to Facility Agreement dated as of January 15, 2013, and as further amended as of December 31, 2013 and extended by Extension Agreement dated as of March 31, 2014, Second Extension Agreement dated as of July 9, 2014, Third Extension Agreement dated as of September 12, 2014 , Fourth Extension Agreement dated as of October 31, 2014 and Fifth Extension Agreement dated as of November 28, 2014 (the “Fifth Extension Agreement”), providing for a secured term loan facility for the purposes described therein (collectively, the “Facility Agreement”).

 

	(B)	The Facility is fully drawn in the amount of U.S $21,000,000.00.

 

	(C)	The Loans made under the Facility are due to be repaid on the Termination Date of December 31, 2014.

 

	(D)	Accrued interest on each Loan is due on December 31, 2014 (the “December Interest Payment”).

 

	(E)	A payment of $175,000 (the “Additional Payment”) is due the Lender on December 31, 2014 pursuant to Clause 4.2 of the Fifth Extension Agreement.

 

	(F)	The Borrower has requested that the Termination Date under the Facility Agreement be extended to January 15, 2015, and that the December Interest Payment and the Additional Payment be deferred to the same date.

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein, it is agreed as follows:

 

	1.	INTERPRETATION

 

	1.1	Definitions

 

In this Agreement:

1

 

“Effective Date” means the date on which the Lender confirms to the Borrower that it has received all of the documents and other evidence required under Clause 2 (Conditions Precedent and Effectiveness) of this Agreement in form and substance satisfactory to the Lender.

 

	1.2	Interpretation

 

		(a)	Capitalized terms used and not defined in this Agreement have the meaning ascribed to them in the Facility Agreement.

 

		(b)	The provisions of clause 1.2 (Construction) of the Facility Agreement apply to this Agreement as if they were set out in full in this Agreement, except that references therein to ‘this Agreement’ are to be construed as references to this Agreement.

 

	2.	CONDITIONS PRECEDENT AND EFFECTIVENESS

 

It shall be a condition precedent to the effectiveness of this Agreement that the Lender has received all of the following documents and other evidence in form and substance satisfactory to the Lender:

 

	2.1	The following documents in respect of the Obligors:

 

		(a)	A copy of the constitutional documents of each Obligor.

 

		(b)	A copy of a resolution of the board of directors of each Obligor:

 

		(i)	approving the terms of, and the transactions contemplated by, this Agreement and resolving that it execute this Agreement;

 

		(ii)	authorizing a specified person or persons to execute this Agreement on its behalf;

 

		(iii)	authorizing a specified person or persons, on its behalf, to sign and/or dispatch all documents and notices to be signed and/or dispatched by it under or in connection with this Agreement; and

 

		(iv)	in the case of a Guarantor, resolving that it is in the best interests of the relevant guarantor to enter into the transactions contemplated by this Agreement.

 

		(c)	A specimen of the signature of each person authorized by the resolution referred to in paragraph (b) above.

 

		(d)	A certificate of an authorized signatory of the relevant Obligor certifying that each copy document relating to it specified in this Clause 2 (Conditions Precedent and Effectiveness) is correct, complete and in full force and effect as at a date no earlier than the Effective Date.

 

		(e)	A certificate as to the existence and good standing (including verification of tax status, if available) of each Obligor from the appropriate governmental authorities in such Guarantor’s jurisdiction of organization, in form and substance satisfactory to the Lender and its legal advisors.

 

	2.2	A duly executed original of this Agreement.

 

 

	2.3	Evidence that any interest payable by the Borrower under the Facility Agreement (other than the December Interest Payment) has been paid.

 

2

	2.4	Legal opinion of Baker & McKenzie LLP, legal advisors to the Borrower and the Guarantor, in respect of New York law in substantially the form distributed to the Lender prior to signing this Agreement.

 

	2.5	Evidence that all costs and expenses of the Lender (including professional fees) incurred prior to the Effective Date in connection with the Group, the Finance Documents and this Agreement have been paid by the Borrower.

 

	2.6	A copy of any other Authorization or other document, opinion or assurance which the Lender considers to be necessary in connection with the entry into and performance of the transactions contemplated by any Finance Document.

 

	3.	REPRESENTATIONS AND WARRANTIES

 

Each Obligor jointly and severally represents and warrants to the Lender on the date of this Agreement and on the Effective Date that:

 

		(a)	The obligations expressed to be assumed by it in this Agreement are (subject to applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforceability of creditors rights generally) legal, valid, binding and enforceable obligations.

 

		(b)	All of the representations and warranties contained in clauses 18.1 – 18.29 (Representations) of the Facility Agreement are true and correct.

 

	4.	EXTENSION OF MATURITY OF THE LOANS

 

	4.1	Subject to the conditions set forth in Clause 2 hereof, effective as of the Effective Date the Lender hereby agrees to extend the Termination Date under the Facility Agreement to January 15, 2015 (except that, if the Termination Date would otherwise fall on a day which is not a Business Day, it will instead be the immediately preceding Business Day).

 

	4.2	It is further agreed that the Additional Payment due pursuant to Clause 4.2 of the Fifth Extension Agreement and the December Interest Payment shall be due on the Termination Date and if not made when due shall constitute an Unpaid Sum (as defined in the Facility Agreement) accruing default interest at the rate set forth in Clause 3.8 and shall be subject to the provisions set forth therein.

 

	5.	RELEASE OF LENDER AND RELATED PARTIES

 

	5.1	Each Obligor voluntarily and knowingly releases, holds harmless, and forever discharges the Lender and each of the Lender’s predecessors, agents, shareholders, partners, directors, officers, employees, representatives, professionals and their respective successors and assigns (the “Released Parties”) from all possible claims, demands, actions, causes of action, damages, costs or expenses, and liabilities whatsoever, known or unknown, anticipated or unanticipated, suspected or unsuspected, fixed, contingent, or conditional, at law or in equity, originating in whole or in part on or before the Effective Date which any Obligor may now or hereafter have against any of the Released Parties and irrespective of whether any such claims arise out of contract, tort, violation of law or regulations, or otherwise, including, without limitation, the exercise of any rights and remedies under, and all other matters relating to, the Finance Documents, and the negotiation and execution of this Agreement.

 

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	6.	MISCELLANEOUS

 

	6.1	Limited Waiver

 

Without limiting the generality of the provisions of Clause 33 (Amendments and Waivers) of the Facility Agreement, the consent set forth herein shall be limited precisely as written and is provided solely for the purpose of extending the maturity of the Loans, and this Agreement does not constitute, nor should it be construed as, a waiver of compliance by the Obligors of any other term, provision or condition of the Facility Agreement or any other instrument or agreement referred to therein.

 

	6.2	Finance Document

 

This Agreement is a Finance Document.

 

	6.3	Costs and expenses

 

The Borrower agrees that the provisions of clause 16 (Costs and Expenses) of the Facility Agreement shall apply to this Agreement.

 

	6.4	Counterparts

 

This Agreement may be executed in any number of counterparts, and this has the same effect as if the signatures on the counterparts were on a single copy of this Agreement.

 

	6.5	Reservation of rights

 

The Parties reserve all rights with respect to any continuing or future Default.

 

	6.6	Confirmations

 

		(a)	The Guarantor hereby acknowledges that it has read this Agreement and consents to its terms, and hereby confirms and agrees that, notwithstanding the effectiveness of this Agreement, its guarantee of the Borrower’s obligations under the Finance Documents (the “Guaranteed Obligations”) shall not be impaired or affected and such guarantee is, and shall continue to be, in full force and effect and is hereby confirmed and ratified in all respects.

 

		(b)	The Obligors acknowledge and agree that (i) all liens evidenced by the Facility Agreement and the Security Documents are hereby ratified, confirmed and continued, (ii) the extension of maturity of the Loans pursuant to this Agreement, the other agreements set forth herein and the execution of this Agreement shall not constitute a re-grant of any existing Security granted in connection with the Facility Agreement (the “Existing Security”), (iii) the Existing Security shall remain in full force and effect after giving effect to this Agreement, and (iv) the Existing Security extends to the Guaranteed Obligations as amended pursuant to this Agreement.

 

	6.7	Governing law

 

THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS APPLICABLE IN THE STATE OF NEW YORK (WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES).

 

[Signature page follows]

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This Agreement has been entered into as of the date stated at the beginning hereof.

 

SIGNATORIES

	
BORROWER:

	
	 		
	
FAR EAST ENERGY (BERMUDA), LTD.

	
	 	 	
	
By:

	
/s/ Michael R. McElwrath

	
	
Name: Michael R. McElwrath

	
	
Title:   Chairman

	
	 	 	

	
GUARANTOR:

	
	   	
	
FAR EAST ENERGY CORPORATION

	
	 	 	
	
By:

	
/s/ Michael R. McElwrath

	
	
Name: Michael R. McElwrath

	
	
Title:   CEO and President

	

 

   

	
LENDER:

	 	
	
STANDARD CHARTERED BANK

	 	 
	
By: 

	/s/ Marc Chait	 
	
Name: Marc Chait

	 
	
Title: Director

	 
	 	 
	
By: 

	/s/ P.A. Johnson	 
	
Name: P.A. Johnson

	 
	
Title: Regional Head

	 

 

 

Signature page to Sixth Extension Agreement

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