Document:

Exhibit
4.1

SECOND
SUPPLEMENTAL INDENTURE

THIS
SECOND SUPPLEMENTAL INDENTURE (this “Second Supplemental Indenture”) is dated as of
March 21, 2007, and has been entered into by and among Pinnacle Foods Group
Inc., a Delaware corporation (the “Company”), Pinnacle Foods Corporation, a
Delaware corporation (“PFC”), Pinnacle Foods Management Corporation, a
Connecticut corporation (“PFMC”; PFMC, together with PFC, the “Subsidiary
Guarantors”) and Wilmington Trust Company, as trustee (the “Trustee”).

 

RECITALS

 

WHEREAS, the Company, the Subsidiary Guarantors
and the Trustee previously entered into that certain Indenture, dated as of
November 25, 2003 (as amended and supplemented to the date hereof, the
“Indenture”), providing for the issuance of the Company’s 8.25% Senior
Subordinated Notes Due 2013 (the “Notes”);

 

WHEREAS, there are now outstanding under the
Indenture Notes in the aggregate principal amount of $394,000,000;

 

WHEREAS, Section 9.02(a) of the Indenture
provides that the Company, the Subsidiary Guarantors and the Trustee may, with
the consent of the Holders (as defined in the Indenture) of at least a majority
in principal amount of the outstanding Notes voting as a single class
(including consents obtained in connection with a tender offer or exchange offer
for the Notes), amend or supplement the Indenture, subject to certain
limitations set forth in the Indenture;

 

WHEREAS, the Company has offered to purchase for
cash any and all of the outstanding Notes upon the terms and subject to the
conditions set forth in the Offer to Purchase and Consent Solicitation
Statement dated March 8, 2007, as the same may be amended, supplemented or
modified (the “Statement”);

 

WHEREAS, Crunch Holding Corp., a Delaware
corporation and the parent company of the Company (“Crunch”), entered into an
Agreement and Plan of Merger, dated as of February 10, 2007, with Peak Holdings
LLC, a Delaware limited liability company (“Parent”), Peak Acquisition Corp., a
Delaware corporation and wholly-owned subsidiary of Parent (“Merger Sub”), and
Peak Finance LLC, a Delaware limited liability company, pursuant to which,
among other things, Merger Sub will merge with and into Crunch, with Crunch
surviving the merger as a wholly owned subsidiary of Parent (the “Merger”);

 

WHEREAS, the Company desires to amend certain
provisions of the Indenture immediately prior to the Merger, as set forth in
Article I of this Second Supplemental Indenture (the “Proposed Amendments”);

 

WHEREAS, the Holders of at least a majority of
the outstanding principal amount of the Notes have duly consented to the
Proposed Amendments; and

 

WHEREAS, the Company has filed with the Trustee
in the manner contemplated by the Indenture evidence of the consent of at least
a majority in aggregate principal amount outstanding of the Notes to the
Proposed Amendments effected by this Second Supplemental Indenture.

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the premises and the covenants and agreements contained
herein, and for other good and valuable consideration the receipt of which is
hereby acknowledged, and for the equal and proportionate benefit of the Holders
of the Notes, the Company, the Subsidiary Guarantors and the Trustee hereby
agree as follows:

 

 

ARTICLE I

AMENDMENTS TO
THE INDENTURE

 

Section 1.01  Amendments to the Indenture. 
Upon written notification to the Trustee by the Company that it has
accepted for purchase and payment pursuant to the Statement all of the Notes
validly tendered on or prior to 5:00 P.M., New York City time, on Wednesday,
March 21, 2007 unless extended or earlier terminated by the Company (the
“Consent Expiration Date”) pursuant to the Statement and any amendments,
modifications or supplements thereto and delivery of the Officers’ Certificates
and Opinions of Counsel pursuant to Sections 9.04(a), 9.06, 13.04 and 13.05 of
the Indenture, then automatically (without further act by any person), with
respect to the Notes and the Indenture:

 

(a)           The
following covenants and other provisions of the Indenture shall be deleted or
modified as indicated below immediately prior to the Merger (all section
references are as they appear in the Indenture):

•                              delete Section 4.02—Reports;

•                              delete Section 4.03—Limitation on Incurrence of
Indebtedness and Issuance of Preferred Stock;

•                              delete Section 4.04—Limitation on Restricted Payments;

•                              delete Section 4.05—Limitation on Dividend and Other
Payment Restrictions Affecting Restricted Subsidiaries;

•                              delete Section 4.06—Limitation on Asset Sales;

•                              delete Section 4.07—Limitation on Transactions with
Affiliates;

•                              delete Section 4.08—Change of Control;

•                              delete Section 4.09—Compliance Certificate;

•                              delete Section 4.11—Future Guarantees;

•                              delete Section 4.12—Limitation on Business Activities;

•                              delete Section 4.13—Limitation on Liens;

•                              delete Section 4.14—No Senior Subordinated Debt;

•                              delete Section 4.15—Designation of Restricted and
Unrestricted Subsidiaries;

•                              modify Section 5.01 to read in its entirety as
follows:

“SECTION 5.01.  When Company May Merge or Transfer Assets. (a) The Company may not, directly or indirectly, (x) consolidate or merge with or into another Person (whether or not the Company is the surviving corporation) or (y) sell, assign, transfer, convey or otherwise dispose of all or substantially all of the properties or assets of the Company and its Restricted Subsidiaries taken as a whole, in one or more related transactions, to another Person unless, in the case of clauses (x) and (y) above:
 
         (i) either:
 
                  (A) the Company is the surviving corporation; or
 
                  (B) the Person formed by or surviving any such consolidation or merger (if other than the Company) or to which such sale, assignment, transfer, conveyance or other disposition has been made is either (1) a corporation organized or existing under the laws of the United States, any 
 
2

 
state of the United States or the District of Columbia or (2) a partnership or limited liability company organized or existing under the laws of the United States, any state thereof or the District of Columbia; and
 
         (ii) the Person formed by or surviving any such consolidation or merger (if other than the
Company) or the Person to which such sale, assignment, transfer, conveyance or other disposition has been made assumes all the obligations of the Company under the Securities, this Indenture and the Registration Agreement pursuant to agreements reasonably satisfactory to the Trustee;
 
(b) [INTENTIONALLY OMITTED]
 
(c) [INTENTIONALLY OMITTED]
 
(d) This Section 5.01 shall not apply to a sale, assignment, transfer, conveyance or other disposition of assets between or among the Company and any of its Restricted Subsidiaries.
 
 (e) A Note Guarantor may not directly or indirectly, (x) consolidate or merge with or into another Person (whether or not such Note Guarantor is the surviving Person) or (y) sell, assign, transfer, convey or otherwise dispose of all or substantially all of its properties or assets unless, in the case of clauses (x) and (y) above:
 
         (i) [INTENTIONALLY OMITTED]
 
         (ii) either:
 
                  (A) the Person acquiring the property in any such sale or disposition of the Person formed by or surviving any such consolidation or merger, if other than such Note Guarantor, assumes all the obligations of that Note Guarantor under this Indenture, its Guarantee and the Registration Agreement pursuant to a supplemental indenture satisfactory to the Trustee and completes all other required documentation; or
 
                  (B) [INTENTIONALLY OMITTED]
 
(f) Notwithstanding Section 5.01(e), a Restricted Subsidiary may consolidate with, merge into or transfer all or part of its assets and properties to the Company or a Subsidiary of the Company that is a Note Guarantor.”;
 

•                              modify Section 6.01 to read in its entirety as
follows:

 

“SECTION 6.01. Events of Default. Each of the following is an “Event of
Default”:

(a) default for 30 days in the payment when due of interest on, or additional interest with respect to, the Securities, whether or not prohibited by Article X or XII;
 
(b) default in payment when due of the principal of, or premium, if any, on the Securities, whether or not prohibited by the subordination provisions of this Indenture;
 
(c) failure by the Company or any of its Restricted Subsidiaries to comply with Section 5.01;
 
(d) [INTENTIONALLY OMITTED]
 
(e) [INTENTIONALLY OMITTED]
 
(f) [INTENTIONALLY OMITTED]
 
(g) [INTENTIONALLY OMITTED]
 
3

 
(h) [INTENTIONALLY OMITTED]
 
(i) the Company pursuant to or within the meaning of any Bankruptcy Law:
 
                  (i) commences a voluntary case;
 
                  (ii) consents to the entry of an order for relief against it in an involuntary case;
 
                  (iii) consents to the appointment of a Custodian of it or for any substantial part of its property; or
 
                  (iv) makes a general assignment for the benefit of its creditors;
 
      or takes any comparable action under any foreign laws relating to
      insolvency; and
 
(j) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that:
 
                  (i) is for relief against the Company in an involuntary case;
 
                  (ii) appoints a Custodian of the Company for any substantial part of its property; or
 
                  (iii) orders the winding up or liquidation of the Company;
 
         or any similar relief is granted under any foreign laws and the order or
         decree remains unstayed and in effect for 60 days.
 
         The foregoing shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.
 

The term
“Bankruptcy Law” means Title 11, United States Code, or any similar Federal or
state law for the relief of debtors. The term “Custodian” means any receiver,
trustee, assignee, liquidator, custodian or similar official under any
Bankruptcy Law.”;

•                              modify Section 8.02 to read in its entirety as
follows:

“SECTION 8.02. Conditions to Defeasance. (a) In order to exercise either Legal Defeasance or Covenant Defeasance:
 
            (i) the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in U.S. dollars, non-callable U.S. Government Obligations, or a combination of cash in U.S. dollars and non-callable U.S. Government Obligations, in amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the principal of, and interest and premium and additional interest, if any, on, the outstanding Securities on the stated maturity or on the applicable redemption date, as the case may be, and the Company must specify whether the Securities are being defeased to maturity or to a particular redemption date; and
 
            (ii) [INTENTIONALLY OMITTED]
 
            (iii) [INTENTIONALLY OMITTED]
 
            (iv) [INTENTIONALLY OMITTED]
 
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            (v) [INTENTIONALLY OMITTED]
 
            (vi) [INTENTIONALLY OMITTED]
 
            (vii) the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with.
 

(b) [INTENTIONALLY
OMITTED]”;

•                              modify Section 11.01 to read in its entirety as
follows:

 

“ SECTION 11.01. Note Guarantees. (a) Each Note Guarantor hereby jointly
and severally and unconditionally guarantees, as a primary obligor and not
merely as a surety, to each Holder and to the Trustee and its successors and
assigns (i) the full and punctual payment when due, whether at Stated Maturity,
by acceleration, by redemption or otherwise, of all obligations of the Company
under this Indenture (including obligations to the Trustee) and the Securities,
whether for payment of principal of, interest on or additional interest, if
any, in respect of the Securities and all other monetary obligations (to the
fullest extent permitted by applicable law) of the Company under this Indenture
and the Securities and (ii) the full and punctual performance within applicable
grace periods of all other obligations of the Company whether for fees,
expenses, indemnification or otherwise under this Indenture and the Securities
(all the foregoing being hereinafter collectively called the “Guaranteed
Obligations”).  To the fullest extent
permitted by applicable law, each Note Guarantor further agrees that the
Guaranteed Obligations may be extended or renewed, in whole or in part, without
notice or further assent from each such Note Guarantor, and that each such Note
Guarantor shall remain bound under this Article XI notwithstanding any extension
or renewal of any Guaranteed Obligation.

 
(b) Each Note Guarantor waives presentation to, demand of payment from and protest to the Company of any of the Guaranteed Obligations and also waives notice of protest for nonpayment.  Each Note Guarantor waives notice of any default under the Securities or the Guaranteed Obligations. The obligations of each Note Guarantor hereunder shall not be affected by (i) the failure of any Holder or the Trustee to assert any claim or demand or to enforce any right or remedy against the Company or any other Person under this Indenture, the Securities or any other agreement or otherwise; (ii) any extension or renewal of any thereof; (iii) any rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture, the Securities or any other agreement; (iv) the release of any security held by any Holder or the Trustee for the Guaranteed Obligations or any of them; (v) the failure of any Holder or Trustee to exercise any right or remedy against any other guarantor of the Guaranteed Obligations; or (vi) any change in the ownership of such Note Guarantor, except as provided in Section 11.02(b).
 
(c) Each Note Guarantor hereby waives any right to which it may be entitled to have its obligations hereunder divided among the Note Guarantors, such that such Note Guarantor’s obligations would be less than the full amount claimed. Each Note Guarantor hereby waives any right to which it may be entitled to have the assets of the Company first be used and depleted as payment of the Company’s or such Note Guarantor’s obligations hereunder prior to any amounts being claimed from or paid by such Note Guarantor hereunder. Each Note Guarantor hereby waives any right to which it may be entitled to require that the Company be sued prior to an action being initiated against such Note Guarantor.
 
(d) Each Note Guarantor further agrees that its Guarantee herein constitutes a guarantee of payment, performance and compliance when due (and not a guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranteed Obligations.
 
5

 
(e) The Guarantee of each Note Guarantor is, to the extent and in the manner set forth in Article XII, subordinated and subject in right of payment to the prior payment in full of the principal of and premium, if any, and interest on all Senior Debt of the relevant Note Guarantor and is made subject to such provisions of this Indenture.
 
(f) Except as expressly set forth in Sections 8.01(b) and 11.02, the obligations of each Note Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Note Guarantor herein shall not be discharged or impaired or otherwise affected by the failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the Securities or any other agreement, by any waiver or modification of any thereof, by any default, failure or delay, wilful or otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of any Note Guarantor or would otherwise operate as a discharge of any Note Guarantor as a matter of law or equity.
 
(g) Each Note Guarantor agrees that its Note Guarantee shall remain in full force and effect until payment in full of all the Guaranteed Obligations or such Note Guarantee is released in compliance with Section 11.03 or upon the merger or the sale of all the Capital Stock or assets of the Note Guarantor in compliance with Article V. Each Note Guarantor further agrees that its Note Guarantee herein shall, to the fullest extent permitted by applicable law, continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest or additional interest, if any, on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy or reorganization of the Company or otherwise.
 
(h) In furtherance of the foregoing and not in limitation of any other right which any Holder or the Trustee has at law or in equity against any Note Guarantor by virtue hereof, upon the failure of the Company to pay the principal of or interest or additional interest, if any, on any Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Note Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the Holders or the Trustee an amount equal to the sum of (i) the unpaid principal amount of such Guaranteed Obligations, (ii) accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by law) and (iii) all other monetary obligations of the Company to the Holders and the Trustee.
 
(i) Each Note Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations and all obligations to which the Guaranteed Obligations are subordinated as provided in Article XII. Each Note Guarantor further agrees that, as between it, on the one hand, and the Holders and the Trustee, on the other hand, to the fullest extent permitted by applicable law, (i) the maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article VI for the purposes of any Note Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guaranteed Obligations guaranteed hereby, and (ii) in the event of any declaration of acceleration of such Guaranteed Obligations as provided in Article VI, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by such Note Guarantor for the purposes of this Section 11.01.
 
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(j) Each Note Guarantor, jointly and severally, also agrees to pay any and all costs and expenses (including reasonable attorneys’ fees and expenses) incurred by the Trustee or any Holder in enforcing any rights under this Section 11.01.
 

(k) Upon request of the
Trustee, each Note Guarantor shall execute and deliver such further instruments
and do such further acts as may be reasonably necessary or proper to carry out
more effectively the purpose of this Indenture.”;

•                              modify Section 11.03 to read in its entirety as
follows:

 

“ SECTION 11.03. Releases of Note Guarantees. A Note Guarantee shall be
released without any action required on the part of the Trustee or any Holder
(a) if (i) all of the Capital Stock of, or all or substantially all of the
assets of, such Note Guarantor is sold or otherwise disposed of (including by
way of merger or consolidation), in each case in compliance with Section 5.01,
to a Person other than (either before or after giving effect to such
transaction) the Company or any of its Subsidiaries or (ii) such Note Guarantor
ceases to be a Restricted Subsidiary, (b) upon any legal defeasance in
accordance with Article VIII, (c) if the Company designates such Note Guarantor
as an Unrestricted Subsidiary, (d) if such Note Guarantor is or becomes a
Receivables Subsidiary, or (e) if such Note Guarantor is a Foreign Subsidiary,
the obligation in respect of which such Guarantee arose is released. A Note
Guarantor may also be released from its obligations under its Note Guarantee in
connection with an amendment permitted by Article IX.

         Upon delivery by the Company to the Trustee of an Officers’ Certificate and an Opinion of Counsel to the effect that such release was made by the Company in accordance with the provisions of this Indenture, the Trustee will execute any documents prepared by the Company reasonably required in order to evidence the release of any Note Guarantor from its obligations under its Note Guarantee.
 

Any Note Guarantor
not released from its obligations under its Note Guarantee will remain liable
for the full amount of principal of and interest on the Securities and for the
other obligations of any Note Guarantor under this Indenture as provided in
this Article XI.”;

•                              delete Section 11.07—Execution of Supplemental
Indenture for Future Note Guarantors; and

•                              modify Section 13.05—Statements Required in
Certificate or Opinion (delete “(other than pursuant to Section 4.09)” relating
to Section 4.09 which is being deleted).

(b)           The
Form of Supplemental Indenture and all references thereto in the Indenture will
be deleted in their entirety immediately prior to the Merger.

(c)           All
definitions set forth in Sections 1.01 and 1.02 of the Indenture that relate to
defined terms used solely in covenants or sections deleted hereby will be
deleted in their entirety immediately prior to the Merger.

(d)           Corresponding
changes reflecting the amendments to the Indenture set forth in this Section
1.01 will be deemed to be made in the Notes immediately prior to the Merger.

ARTICLE II

MISCELLANEOUS

Section 2.01  Instruments To Be Read Together.  This Second Supplemental Indenture is
executed as and shall constitute an indenture supplemental to and in
implementation of the Indenture, and said Indenture and this Second
Supplemental Indenture shall henceforth be read together.

 

7

 

Section 2.02  Confirmation.  The
Indenture as amended and supplemented by this Second Supplemental Indenture is
in all respects confirmed and preserved.

 

Section 2.03  Terms Defined. 
Capitalized terms used in this Second Supplemental Indenture and not
otherwise defined herein shall have the meanings assigned to such terms in the
Indenture.

 

Section 2.04  Trust Indenture Act Controls.  If any provision of this Second Supplemental Indenture
limits, qualifies or conflicts with another provision that is required to be
included in this Second Supplemental Indenture or the Indenture by the Trust
Indenture Act of 1939, as amended, as in force at the date that this Second
Supplemental Indenture is executed, the provisions required by said Act shall
control.

 

Section 2.05  Headings.  The Section
headings herein are for convenience only and shall not effect the construction
thereof.

 

Section 2.06  Governing Law.  THIS
SECOND SUPPLEMENTAL INDENTURE SHALL BE GOVERNED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF
CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER
JURISDICTION WOULD BE REQUIRED THEREBY.

 

Section 2.07  Counterparts.  The
parties may sign any number of copies of this Second Supplemental
Indenture.  Each signed copy shall be an
original, but all of them together represent the same agreement.

 

Section 2.08  Effectiveness; Termination. 
The provisions of this Second Supplemental Indenture will take effect
immediately upon its execution by the Trustee in accordance with the provisions
of Sections 9.02 and 9.06 of the Indenture; provided, that the amendments to
the Indenture set forth in Section 1.01 of this Second Supplemental Indenture
shall become operative as specified in Section 1.01 hereof.  The Company may terminate this Second
Supplemental Indenture upon written notice to the Trustee if the Company
terminates its offer to purchase the Notes and consent solicitation upon the
terms and subject to the provisions set forth in the Statement.

 

Section 2.09  Acceptance by Trustee. 
The Trustee accepts the amendments to the Indenture effected by this
Second Supplemental Indenture and agrees to execute the trusts created by the
Indenture as hereby amended, but only upon the terms and conditions set forth
in the Indenture.  In entering into this
Second Supplemental Indenture, the Trustee shall be entitled to the benefit of
every provision of the Indenture, the Guarantees and the Notes relating to the
conduct or affecting the liability or affording protection to the Trustee,
whether or not elsewhere herein so provided.

 

Section 2.10  Responsibility of Trustee. 
The recitals contained herein shall be taken as the statements of the
Company, and the Trustee assumes no responsibility for their correctness.  The Trustee makes no representations as to
the validity or sufficiency of this Second Supplemental Indenture.

 

 

 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK]

 

 

8

 

IN
WITNESS WHEREOF,
the parties hereto have caused this Second Supplemental Indenture to be duly
executed, all as of the date first written above.

 

 

	
   

  	
  PINNACLE FOODS GROUP INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PINNACLE FOODS CORPORATION,

  
	
   

  	
  as a Note Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  PINNACLE FOODS MANAGEMENT
  CORPORATION,

  
	
   

  	
  as a Note Guarantor

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  WILMINGTON TRUST COMPANY,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  

 

 

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Exhibit 10.11  

 
 

AMENDED AND RESTATED SUBSCRIPTION AGREEMENT    
    

        AMENDED AND RESTATED SUBSCRIPTION AGREEMENT (this "Agreement") made as of this 6th day of February, 2007 for the benefit of Vantage Energy Services, Inc.,
a Delaware corporation (the "Company"), having its principal place of business at 6435 Vanderbilt Street, Houston, Texas 77005 by the person or entity listed on the signature page hereto under the
heading "Subscriber" (individually and collectively, the "Subscriber"). 

        WHEREAS
the Company and the Subscriber entered into a Subscription Agreement dated as of November 6, 2006 (the "Original Agreement"), and wish to amend and restate the Original
Agreement as set forth herein; 

        WHEREAS,
the Company desires to sell on a private placement basis (the "Offering") an aggregate of 375,000 units (the "Units") and
3,000,000 warrants (the "Warrants" and collectively with the Units, the "Securities"). Each Unit consists of one share of the Company's common stock, par value $0.001 per share (the "Common Stock"),
and one warrant exercisable for one share of Common Stock, for a per Unit purchase price of $8.00, and each Warrant is exercisable for one share of Common Stock, for a per Warrant purchase price of
$1.00; and 

        WHEREAS,
the Subscriber wishes to purchase the number of Securities set forth on the signature page hereof, and the Company wishes to accept such subscription: 

        NOW,
THEREFORE, for and in consideration of the premises and the mutual covenants hereinafter set forth, the Company and the Subscriber do hereby agree as follows 

        1.    Agreement to Subscribe    

        1.1   Purchase and Issuance of the Securities. The Subscriber is hereby subscribing for the number of Securities indicated on
the signature page hereto by the caption, "Number of Securities Being Subscribed" which Securities will be issued to the Subscriber, or his affiliates or designees. The aggregate purchase price for
such Subscriber's Securities (the "Purchase Price") is indicated on the signature page hereto by the caption, "Aggregate Purchase Price". 

        1.2   Delivery of the Purchase Price. Upon execution of this Agreement the undersigned is hereby bound to fulfill his
obligations hereunder and hereby irrevocably commits to deliver into a trust account at Deutsche Bank Trust Company Americas, maintained by Continental Stock Transfer & Trust Company, acting as
Trustee, on the date of Closing (as hereinafter defined) the Purchase Price by bank check, wire transfer or such other form of payment as shall be acceptable to the Trustee, in its sole and absolute
discretion, at the Closing. 

        1.3   Closing. The closing of the Offering (the "Closing"), shall take place at the offices of the Company, prior to the
effective date of the registration statement pursuant to which the Company proposes to register its initial public offering of 25,000,000 units of Common Stock and Warrants (the "IPO"). 

        2.    Representations and Warranties of the Subscriber    

        The
Subscriber represents and warrants to the Company that: 

        2.1   No Government Recommendation or Approval. The Subscriber understands that no United States federal or state agency has
passed upon or made any recommendation or endorsement of the Company or the Offering of the Securities. 

        2.2   Intent. The Subscriber is purchasing the Securities solely for investment purposes, for the Subscriber's own account and
not with a view towards the distribution or dissemination thereof and the Subscriber has no present arrangement to sell the Securities to or through any person or entity. The Subscriber understands
that the Securities must be held indefinitely unless such Securities are subsequently registered under the Securities Act or an exemption from registration is available. 

 

        2.3   Sophisticated Investor. 

        (i)    The
Subscriber is sophisticated in financial matters and is able to evaluate the risks and benefits of the investment in the Securities. 

        (ii)   The
Subscriber is able to bear the economic risk of his investment in the Securities for an indefinite period of time because none of the Securities nor any of the
underlying securities comprising the Securities have been registered under the Securities Act and therefore cannot be sold unless subsequently registered under the Securities Act or an exemption from
such registration is available. 

        2.4   Independent Investigation. The Subscriber, in making the decision to purchase the Securities, has relied upon an
independent investigation of the Company and has not relied upon any information or representations made by any third parties or upon any oral or written representations or assurances from the
Company, its officers, directors or employees or any other representatives or agents of the Company, other than as set forth in this Agreement. The Subscriber is familiar with the business, operations
and financial condition of the Company and has had an opportunity to ask questions of, and receive answers from, the Company's officers and directors concerning the Company and the terms and
conditions of the offering of the Securities and has had full access to such other information concerning the Company as the Subscriber has requested. 

        2.5   Rule 144 Acknowledgements. The Subscriber is aware of the adoption of Rule 144 by the Securities and
Exchange Commission under the Securities Act ("Rule 144"), which permits limited public resale of securities acquired in a non-public offering, subject to the satisfaction of
certain conditions. Subscriber understands that the Securities (and the underlying securities) are "restricted securities" as that term is defined in Rule 144 and that the Securities (and the
underlying securities) must be held indefinitely by the Subscriber unless they are subsequently registered under the Securities Act or an exemption from such registration, such as Rule 144, is
available. Notwithstanding the forgoing, the Subscriber further understands and acknowledges that the SEC has taken the position that the Subscriber is considered a promoter under the Securities Act
of 1933, as amended (the "Securities Act"), and that promoters or affiliates of a blank check company and their transferees, both before and after a Business Combination, would act as an "underwriter"
under the Securities Act when reselling the securities of that blank check company. Accordingly, Rule 144 will not be available for the resale of the Securities or the securities underlying the
Securities despite technical compliance with the requirements of Rule 144, in which event the resale transactions would need to be made through a registered offering. 

        2.6   Authority. This Agreement has been validly authorized, executed and delivered by the Subscriber and is a valid and
binding agreement enforceable in accordance with its terms, subject to the general principles of equity and to bankruptcy or other laws affecting the enforcement of creditors' rights generally. The
execution, delivery and performance of this Agreement by the Subscriber does not and will not conflict with, violate or cause a breach of any agreement, contract or instrument to which the Subscriber
is a party. 

        2.7   No Legal Advice from Company. The Subscriber acknowledges that he has had the opportunity to review this Agreement and
the transactions contemplated by this Agreement and the other agreements entered into between the parties hereto with the Subscriber's own legal counsel and investment and tax advisors. Except for any
statements or representations of the Company made in this Agreement and the other agreements entered into between the parties hereto, the Subscriber is relying solely on such counsel and advisors and
not on any statements or representations of the Company or any of its representatives or agents for legal, tax or investment advice with respect to this investment, the transactions contemplated by
this Agreement or the securities laws of any jurisdiction. 

2

 

        2.8   Reliance on Representations and Warranties. The Subscriber understands that the Securities are being offered and sold to
the Subscriber in reliance on exemptions from the registration requirements under the Securities Act, and analogous provisions in the laws and regulations of various states, and that the Company is
relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of the Subscriber set forth in this Agreement in order to determine the
applicability of such provisions. 

        2.9   No Advertisements. The undersigned is not subscribing for the Securities as a result of or subsequent to any
advertisement, article, notice or other communication published in any newspaper, magazine, or similar media or broadcast over television or radio, or presented at any seminar or meeting. 

        2.10 Legend. The Subscriber acknowledges and agrees that the certificates evidencing the shares of Common Stock and the
Warrants, including the warrants comprising the Units, and when issued the shares of Common Stock to be issued upon exercise of such Warrants, including the warrants comprising the Units (the "Warrant
Shares"), shall bear a restrictive legend (the "Legend"), in the form and substance as set forth in Section 4 hereof, prohibiting the offer, sale, pledge or transfer of the securities, except
(i) pursuant to an effective registration statement filed under the Securities Act, (ii) pursuant to an exemption from registration provided by Rule 144 under the Securities Act
(if available), and (iii) pursuant to any other exemption from the registration requirements of the Securities Act. 

        3.    Representations and Warranties of the Company    

        The
Company represents and warrants to each Subscriber that: 

        3.1   Valid Issuance of Capital Stock. The total number of shares of all classes of capital stock which the Company has
authority to issue is 60,000,000 shares of Common Stock and 1,000,000 shares of Preferred Stock. As of the date hereof, the Company has 6,250,000 shares of Common Stock and no shares of Preferred
Stock issued and outstanding. All of the issued shares of capital stock of the Company have been duly authorized, validly issued, and are fully paid and non-assessable. 

        3.2   Organization and Qualification. The Company is a corporation duly incorporated and existing in good standing under the
laws of the state of Delaware and has the requisite corporate power to own its properties and assets and to carry on its business as now being conducted. 

        3.3   Authorization; Enforcement. (i) The Company has the requisite corporate power and authority to enter into and
perform its obligations under this Agreement and to issue the Common Stock in accordance with the terms hereof, (ii) the execution, delivery and performance of this Agreement by the Company and
the consummation by it of the transactions contemplated hereby have been duly authorized by all necessary corporate action, and no further consent or authorization of the Company or its Board of
Directors or stockholders is required, and (iii) this Agreement constitutes valid and binding obligations of the Company enforceable against the Company in accordance with its terms, except as
such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance, moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of,
creditors' rights and remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution may be limited by federal and state securities laws
or principles of public policy. 

3

 

        3.4   No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the
transactions contemplated hereby do not (i) result in a violation of the Company's Certificate of Incorporation or By-Laws or (ii) conflict with, or constitute a default
under any agreement, indenture or instrument to which the Company is a party. Other than any SEC or state securities filings which may be required to be made by the Company subsequent to the Closing,
and any registration statement which may be filed pursuant thereto, the Company is not required under federal, state or local law, rule or regulation to obtain any consent, authorization or order of,
or make any filing or registration with, any court or governmental agency or self-regulatory entity in order for it to perform any of its obligations under this Agreement or issue the
Common Stock in accordance with the terms hereof. 

        4.    Legends; Denominations    

        4.1   Legend. The Company will issue the shares of Common Stock, the Warrants, and when issued the Warrant Shares, purchased by
the Subscriber in the name of the Subscriber and in such denominations to be specified by the Subscriber prior to the Closing. The shares of Common Stock, the Warrants and Warrant Shares will bear the
following Legend and appropriate "stop transfer" instructions: 

"THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS AND CONDITIONS CONTAINED IN A STOCK ESCROW AGREEMENT (THE "AGREEMENT") AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR
OTHERWISE DISPOSED DURING THE TERM OF THE ESCROW PERIOD (AS DEFINED IN THE AGREEMENT). FURTHER, THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE "ACT"), OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT COVERING THESE SECURITIES UNDER THE ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER THE ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL FOR THIS
CORPORATION, IS AVAILABLE." 

        4.2   Subscriber's Compliance. Nothing in this Section 4 shall affect in any way the Subscriber's obligations and
agreement to comply with all applicable securities laws upon resale of the Units, the Warrants, including the warrants comprising the Units, the shares of Common Stock and Warrant Shares underlying
the Units. 

        4.3   Company's Refusal to Register Transfer of Units. The Company shall refuse to register any transfer of the Units, the
Warrants, including the warrants comprising the Units, the shares of Common Stock or the Warrant Shares, if in the sole judgment of the Company such purported transfer would not be made
(i) pursuant to an effective registration statement filed under the Securities Act, or (ii) pursuant to an available exemption from the registration requirements of the Securities Act. 

4

 

        5.    Escrow    

        Upon
consummation of the IPO, the Subscriber, and his designees, shall enter into a securities escrow agreement with Continental Stock Transfer & Trust Company, whereby the Units,
the Warrants, including the warrants comprising the Units, the shares of Common Stock comprising the Units and the Warrant Shares, shall be held in escrow until the earlier of (i) one year
after the consummation of a Business Combination (as hereinafter defined) or (ii) the liquidation of the Company. As used herein, a "Business Combination" shall mean an acquisition by the
Company by merger, capital stock exchange, exchangeable share transaction, joint venture, asset or stock acquisition, or other similar business combination of one or more domestic or international
operating businesses in the oilfield services industry or related industries. 

        6.    Waiver of Liquidation Distributions    

        In
connection with the Securities purchased pursuant to this Agreement or prior to the private placement, the Subscriber hereby waives any and all right, title, interest or claim of any
kind in or to any liquidating distributions by the Company in the event of a liquidation of the Company upon the Company's failure to timely complete a Business Combination. For purposes of clarity,
in the event the Subscriber purchases shares of Common Stock in the IPO or in the aftermarket, any additional shares so purchased shall be eligible to receive any liquidating distributions by the
Company. Notwithstanding the foregoing, the Subscriber acknowledges and agrees that any such shares of Common Stock purchased by Subscriber prior to the private placement, in the private placement or
in the IPO will be voted in accordance with the majority of the shares voted by the public stockholders, while any such shares of Common Stock purchased by Subscriber in the aftermarket will be voted
in favor of a Business Combination. Consequently, in no event will the Subscriber have the right to convert any shares of Common Stock into funds held in the trust account with Continental Stock
Transfer & Trust Company upon the successful completion of a Business Combination. 

        7.    Forfeiture of Units.    

        7.1   Failure to Consummate Business Combination. All of the Securities initially shall be subject to forfeiture to the Company
in accordance with this Section 7. The Securities shall be forfeited to the Company in the event that the Company does not consummate a Business Combination, with respect the Company's IPO
within 18 months after consummation of the IPO, or within 24 months from the consummation of the IPO if a letter of intent, agreement in principle or definitive agreement has been
executed within 18 months after consummation of the IPO and the Business Combination has not yet been consummated within such 18 month time period. 

        7.2   Termination of Rights as Stockholder; Escrow. If the Securities are forfeited in accordance with this Section 7,
then after such time the Subscriber (or successor in interest), shall no longer have any rights as a holder of such Securities, and the Company shall take such action as is appropriate to cancel such
Securities. To effectuate the foregoing, all certificates representing the Securities shall be held in escrow as provided in Section 5 hereof. In addition, the Subscriber hereby irrevocably
grants the Company a limited power of attorney for the purpose of effectuating the foregoing. 

5

 

        8.    Rescission Right Waiver and Indemnification.    

        8.1   Each
of the Subscribers understands and acknowledges that an exemption from the registration requirements of the Securities Act requires that there be no general
solicitation of purchasers of the Securities. In this regard, if the offering of the Units in the Company's IPO were deemed to be a general solicitation with respect to the Securities, the offer and
sale of such Securities may not be exempt from registration and, if not, the Subscribers may have a right to rescind their purchases of the Securities. In order to facilitate the completion of the
Offering and in order to protect the Company, its stockholders and the trust account from claims that may adversely affect the Company or the interests of its stockholders, each of the Subscribers
hereby agrees to waive, to the maximum extent permitted by applicable law, any claims, right to sue or rights in law or arbitration, as the case may be, to seek rescission of his or its purchase of
the Securities. Each of the Subscribers acknowledges and agrees that this waiver is being made in order to induce the Company to sell the Securities to the Subscribers. Each Subscriber agrees that the
foregoing waiver of rescission rights shall apply to any and all known or unknown actions, causes of action, suits, claims, or proceedings (collectively, "Claims") and related losses, costs,
penalties, fees, liabilities and damages, whether compensatory, consequential or exemplary, and expenses in connection therewith, including reasonable attorneys' and expert witness fees and
disbursements and all other expenses reasonably incurred in investigating, preparing or defending against any Claims, whether pending or threatened, in connection with any present or future actual or
asserted right to rescind the purchase of the Securities hereunder or relating to the purchase of the Securities and the transactions contemplated hereby. 

        8.2   Each
Subscriber agrees not to seek recourse against the trust account for any reason whatsoever in connection with his purchase of the Securities or any Claim that may
arise now or in the future. 

        8.3   The
Subscriber acknowledges and agrees that the stockholders of the Company are and shall be third-party beneficiaries of the foregoing provisions of this Agreement. 

        8.4   Each
Subscriber agrees that to the extent any waiver of rights under this Section 8 is ineffective as a matter of law, each Subscriber has offered such waiver for
the benefit of the Company as an equitable right that shall survive any statutory disqualification or bar that applies to a legal right. Each Subscriber acknowledges the receipt and sufficiency of
consideration received from the Company hereunder in this regard. 

        9.    Terms of the Warrants    

        The
Warrants (including the warrants comprising the Units) are similar to the warrants included in the units offered in the IPO, except that: (i) they are not being registered in
the Registration Statement and therefore shall not be freely tradeable until one year has passed from the consummation of a Business Combination; and (ii) they are not redeemable so long as
they are held by the initial holder thereof (or any of their permitted transferees). The shares of Common Stock issued hereby and underlying the Warrants will be granted certain registration rights.
In addition, in the event that a registration statement with respect to the Common Stock underlying the Warrants is not effective under the Securities Act, Subscriber shall not be entitled to exercise
the Warrants and such Warrants may have no value and expire worthless. In no event will the Company be required to net cash settle the Warrant exercise. 

        10.    Voting of Shares.    Subscriber has agreed to vote the shares of Common Stock owned by him immediately before
this private placement, purchased in this private placement or acquired in the IPO in accordance with the majority of the shares of Common Stock voted by the public stockholders. In connection with
securities purchased in the aftermarket, Subscriber has agreed to vote such shares of Common Stock in favor of a Business Combination that the Company negotiates and presents for approval to the
Company's stockholders. 

6

 

        11.    Governing Law; Jurisdiction; Waiver of Jury Trial    

        This
Agreement shall be governed by and construed in accordance with the laws of the State of Delaware for agreements made and to be wholly performed within such state. The parties
hereto hereby waive any right to a jury trial in connection with any litigation pursuant to this Agreement and the transactions contemplated hereby. 

        12    Assignment; Entire Agreement; Amendment    

        12.1 Assignment. Neither this Agreement nor any rights hereunder may be assigned by any party to any other person other than
by Subscriber to a person agreeing to be bound by the terms hereof. 

        12.2 Entire Agreement. This Subscription Agreement sets forth the entire agreement and understanding between the parties as
to the subject matter thereof and merges and supersedes all prior discussions, agreements and understandings of any and every nature among them. 

        12.3 Amendment. Except as expressly provided in this Agreement, neither this Agreement nor any term hereof may be amended,
waived, discharged or terminated other than by a written instrument signed by the party against whom enforcement of any such amendment, waiver, discharge, or termination is sought. 

        12.4 Binding upon Successors. This Agreement shall be binding upon and inure to the benefit of the parties hereto and to
their respective heirs, legal representatives, successors and permitted assigns. 

        13.    Notices; Indemnity    

        13.1 Notices. Unless otherwise provided herein, any notice or other communication to a party hereunder shall be sufficiently
given if in writing and personally delivered or sent by facsimile or other electronic transmission with copy sent in another manner herein provided or sent by courier (which for all purposes of this
Agreement shall include Federal Express or other recognized overnight courier) or mailed to said party by certified mail, return receipt requested, at its address provided for herein or such other
address as either may designate for itself in such notice to the other. Communications shall be deemed to have been received when delivered personally, on the scheduled arrival date when sent by next
day or 2-day courier service, or if sent by facsimile upon receipt of confirmation of transmittal or, if sent by mail, then three days after deposit in the mail. If given by electronic
transmission, such notice shall be deemed to be delivered (a) if by electronic mail, when directed to an electronic mail address at which the stockholder has consented to receive notice;
(b) if by a posting on an electronic network together with separate notice to the stockholder of such specific posting, upon the later of (1) such posting and (2) the giving of
such separate notice; and (c) if by any other form of electronic transmission, when directed to the stockholder. 

        13.2 Indemnification. Each party shall indemnify the other against any loss, cost or damages (including reasonable attorney's
fees and expenses) incurred as a result of such party's breach of any representation, warranty, covenant or agreement in this Agreement. 

        14.    Counterparts    

        This
Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts
have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile
transmission or by e-mail delivery of a ".pdf" format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is
executed) with the same force and effect as if such facsimile or ".pdf" signature page were an original thereof. 

7

 

        15.    Survival; Severability    

        15.1 Survival. The representations, warranties, covenants and agreements of the parties hereto shall survive the Closing. 

        15.2 Severability. In the event that any provision of this Agreement becomes or is declared by a court of competent
jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision; provided that no such severability shall be effective if it materially
changes the economic benefit of this Agreement to any party. 

        16.    Titles and Subtitles    

        The
titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 

8

  

	        Name of the Subscriber:	            Paul A. Bragg
 (Please print legibly)	 	 

	

        Number of Units Being Subscribed:	

            105,000
	
 	

 

	

        Number of Warrants Being Subscribed:	

            945,000
	
 	

 

	

        Aggregate Purchase Price:	

            $1,680,000
	
 	

 

	

        Date of Subscription:	

            February 6, 2007
	
 	

 

	

        Place of Residency and/or Principal Place of Business:	

 	
 	

 

	

 	
 	

c/o Vantage Energy Services, Inc.
	

 
	

 	
 	

6435 Vanderbilt Street
	

 
	

 	
 	

Houston, Texas 77005
	

 
	

 	
 	

Telephone:	

  
	

 
	

 	
 	

Fax:	

  
	

 
	

 	
 	

e-mail address:	

            
	

 

This
subscription is accepted by the Company on the 6th day of February, 2007. 

	 	 	VANTAGE ENERGY SERVICES, INC.
	

 	
 	

By:	

 	

/s/ Paul A. Bragg
	 	 	 	

	 	 	 	Name:	Paul A. Bragg
	 	 	 	Title:	Chief Executive Officer
	

 	
 	
SUBSCRIBER
	

 	
 	

By:	

        /s/ Paul A. Bragg
        Paul A. Bragg

9

 

	

        Name of the Subscriber:	

            Christopher G. DeClaire
 (Please print legibly)	
 	

 

	

        Number of Units Being Subscribed:	

            54,000
	
 	

 

	

        Number of Warrants Being Subscribed:	

            486,000
	
 	

 

	

        Aggregate Purchase Price:	

            $864,000
	
 	

 

	

        Date of Subscription:	

            February 6, 2007
	
 	

 

	

        Place of Residency and/or Principal Place of Business:	

 	
 	

 

	

 	
 	

c/o Vantage Energy Services, Inc.
	

 
	

 	
 	

6435 Vanderbilt Street
	

 
	

 	
 	

Houston, Texas 77005
	

 
	

 	
 	

Telephone:	

  
	

 
	

 	
 	

Fax:	

  
	

 
	

 	
 	

e-mail address:	

            
	

 

This
subscription is accepted by the Company on the 6th day of February, 2007. 

	 	 	VANTAGE ENERGY SERVICES, INC.
	

 	
 	

By:	

 	

/s/ Paul A. Bragg
	 	 	 	

	 	 	 	Name:	Paul A. Bragg
	 	 	 	Title:	Chief Executive Officer
	

 	
 	
SUBSCRIBER
	

 	
 	

By:	

        /s/ Christopher G. DeClaire
        Christopher G. DeClaire

10

 

	

        Name of the Subscriber:	

            Jorge E. Estrada M.
 (Please print legibly)	
 	

 

	

        Number of Units Being Subscribed:	

            54,000
	
 	

 

	

        Number of Warrants Being Subscribed:	

            486,000
	
 	

 

	

        Aggregate Purchase Price:	

            $864,000
	
 	

 

	

        Date of Subscription:	

            February 6, 2007
	
 	

 

	

        Place of Residency and/or Principal Place of Business:	

 	
 	

 

	

 	
 	

c/o Vantage Energy Services, Inc.
	

 
	

 	
 	

6435 Vanderbilt Street
	

 
	

 	
 	

Houston, Texas 77005
	

 
	

 	
 	

Telephone:	

  
	

 
	

 	
 	

Fax:	

  
	

 
	

 	
 	

e-mail address:	

            
	

 

This
subscription is accepted by the Company on the 6th day of February, 2007. 

	 	 	VANTAGE ENERGY SERVICES, INC.
	

 	
 	

By:	

 	

/s/ Paul A. Bragg
	 	 	 	

	 	 	 	Name:	Paul A. Bragg
	 	 	 	Title:	Chief Executive Officer
	

 	
 	
SUBSCRIBER
	

 	
 	

By:	

        /s/ Jorge E. Estrada M.
        Jorge E. Estrada M.

11

 

	

        Name of the Subscriber:	

            Marcelo D. Guiscardo
 (Please print legibly)	
 	

 

	

        Number of Units Being Subscribed:	

            54,000
	
 	

 

	

        Number of Warrants Being Subscribed:	

            486,000
	
 	

 

	

        Aggregate Purchase Price:	

            $864,000
	
 	

 

	

        Date of Subscription:	

            February 6, 2007
	
 	

 

	

        Place of Residency and/or Principal Place of Business:	

 	
 	

 

	

 	
 	

c/o Vantage Energy Services, Inc.
	

 
	

 	
 	

6435 Vanderbilt Street
	

 
	

 	
 	

Houston, Texas 77005
	

 
	

 	
 	

Telephone:	

  
	

 
	

 	
 	

Fax:	

  
	

 
	

 	
 	

e-mail address:	

            
	

 

This
subscription is accepted by the Company on the 6th day of February, 2007. 

	 	 	VANTAGE ENERGY SERVICES, INC.
	

 	
 	

By:	

 	

/s/ Paul A. Bragg
	 	 	 	

	 	 	 	Name:	Paul A. Bragg
	 	 	 	Title:	Chief Executive Officer
	

 	
 	
SUBSCRIBER
	

 	
 	

By:	

        /s/ Marcelo D. Guiscardo
        Marcelo D. Guiscardo

12

 

	

        Name of the Subscriber:	

            John C.G. O'Leary
 (Please print legibly)	
 	

 

	

        Number of Units Being Subscribed:	

            54,000
	
 	

 

	

        Number of Warrants Being Subscribed:	

            486,000
	
 	

 

	

        Aggregate Purchase Price:	

            $864,000
	
 	

 

	

        Date of Subscription:	

            February 6, 2007
	
 	

 

	

        Place of Residency and/or Principal Place of Business:	

 	
 	

 

	

 	
 	

c/o Vantage Energy Services, Inc.
	

 
	

 	
 	

6435 Vanderbilt Street
	

 
	

 	
 	

Houston, Texas 77005
	

 
	

 	
 	

Telephone:	

  
	

 
	

 	
 	

Fax:	

  
	

 
	

 	
 	

e-mail address:	

            
	

 

This
subscription is accepted by the Company on the 6th day of February, 2007. 

	 	 	VANTAGE ENERGY SERVICES, INC.
	

 	
 	

By:	

 	

/s/ Paul A. Bragg
	 	 	 	

	 	 	 	Name:	Paul A. Bragg
	 	 	 	Title:	Chief Executive Officer
	

 	
 	
SUBSCRIBER
	

 	
 	

By:	

        /s/ John C.G. O'Leary
        John C.G. O'Leary

13

 

	

        Name of the Subscriber:	

            John Russell
 (Please print legibly)	
 	

 

	

        Number of Units Being Subscribed:	

            54,000
	
 	

 

	

        Number of Warrants Being Subscribed:	

            486,000
	
 	

 

	

        Aggregate Purchase Price:	

            $864,000
	
 	

 

	

        Date of Subscription:	

            February 6, 2007
	
 	

 

	

        Place of Residency and/or Principal Place of Business:	

 	
 	

 

	

 	
 	

c/o Vantage Energy Services, Inc.
	

 
	

 	
 	

6435 Vanderbilt Street
	

 
	

 	
 	

Houston, Texas 77005
	

 
	

 	
 	

Telephone:	

    
	

 
	

 	
 	

Fax:	

  
	

 
	

 	
 	

e-mail address:	

            
	

 

This
subscription is accepted by the Company on the 6th day of February, 2007. 

	 	 	VANTAGE ENERGY SERVICES, INC.
	

 	
 	

By:	

 	

/s/ Paul A. Bragg
	 	 	 	

	 	 	 	Name:	Paul A. Bragg
	 	 	 	Title:	Chief Executive Officer
	

 	
 	
SUBSCRIBER
	

 	
 	

By:	

        /s/ John Russell
        John Russell

14

QuickLinks

AMENDED AND RESTATED SUBSCRIPTION AGREEMENT

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