Document:

Document

Exhibit 10.4

AMENDMENT NO. 1 TO THE
CHANGE OF CONTROL SEVERANCE AGREEMENT

This Amendment No. 1 ("Amendment") is entered into as of May 1, 2019 ("Amendment Effective Date") by and between Quotient Technology, Inc. ("Company") and Connie L. Chen ("Executive"), to amend the Change of Control Severance Agreement by and between Company and Executive effective July 26, 2016 "Agreement"). All capitalized terms not defined herein shall have the meanings assigned to them in the Agreement.

WHEREAS, the Board of Directors of the Company has determined that it is in the best interests of the Company, to amend the term of the Agreement, to terminate on May 1, 2022, and to automatically renew for successive three year periods thereafter, with a right of either party to terminate the Agreement, for any reason, by giving written notice to the other party at least thirty days prior to the initial termination date or any subsequent termination date.

NOW THEREFORE, in consideration of the foregoing and the mutual promises and covenants herein contained, the receipt and sufficiency of which is hereby acknowledged, Company and Executive hereby agree to amend the Agreement as follows:

1. Section 1. Term of Agreement is hereby amended to delete the first and second sentences and replace them with the following:

This initial term of the Agreement (the "Initial Term") shall commence on the Effective Date and terminate on May 1, 2022 and shall automatically renew for successive terms of three (3) years thereafter (the Initial Term and each successive term, a "Term") and any obligations of the Company hereunder will lapse upon the completion of a Term. Notwithstanding the foregoing provisions of this paragraph, (a) if a Change of Control occurs when there are fewer than twelve (12) months remaining during a Term, the term of this Agreement will extend automatically through the date that is twelve (12) months following the effective date of the Change of Control, (b) outside of a Change of Control Period, either party may terminate the Agreement, for any reason, by giving written notice to the other party at least thirty (30) days prior to May 1, 2022 or any subsequent termination date, or (c) if an initial occurrence of an act or omission by the Company constituting the grounds for "Good Reason" in accordance with Section 6(h) hereof has occurred (the "Initial Grounds"), and the expiration date of the Cure Period (as such term is used in Section 6(h) with respect to such Initial Grounds could occur following the expiration of the Term, the term of this Agreement will extend automatically through the date that is thirty (30) days following the expiration of the Cure Period, but such extension of the term will only apply with respect to the Initial Grounds. If Executive becomes entitled to benefits under Section 3 during the term of this Agreement, the Agreement will not terminate until all of the obligations of the parties hereto with respect to this Agreement have been satisfied.

Except as specifically provided in this Amendment, the terms and conditions of the Agreement remain in full force and effect. This Amendment may be executed in counterparts, which together will constitute one document and be binding on all of the parties herein.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives as of the Amendment Effective Date.
EXECUTIVE    QUOTIENT TECHNOLOGY INC.

By: /s/ Connie Chen                                          By: /s/ Ron J. Fior                

Name: Connie Chen                                          Name: Ron J. Fior                
Title: General Counsel                                          Title: CFO                    
Date: 3/30/19                                          Date: 3/30/19                    

{Signature page of Amendment No. 1 to the Change of Control Severance Agreement}

2Exhibit 10.1

 

Execution Version

 

VOTING AGREEMENT

 

This Voting Agreement (this
 “Agreement”), dated as of May 9, 2021, is entered into by and among Bonanza Creek Energy, Inc.,
a Delaware corporation (“Parent”), Extraction Oil & Gas, Inc., a Delaware corporation (the “Company”),
and Kimmeridge Energy Management Company, LLC, a Delaware limited liability company (“Stockholder”). Parent,
the Company and Stockholder are each sometimes referred to herein individually as a “Party” and collectively
as the “Parties.”

 

WHEREAS, concurrently with
the execution of this Agreement, the Company, Parent, and Merger Sub, are entering into an Agreement and Plan of Merger (as the same
may be amended from time to time, the “Merger Agreement”), providing for, among other things, the merger (the
 “Merger”) of Merger Sub and the Company pursuant to the terms and conditions of the Merger Agreement;

 

WHEREAS, in order to induce
Parent to enter into the Merger Agreement, Stockholder is willing to make certain representations, warranties, covenants, and agreements
as set forth in this Agreement with respect to the 9,799,080 shares of common stock, par value $0.01 per share, of the Company (“Company
Common Stock”) Beneficially Owned (as defined below) by Stockholder (the “Original Shares” and,
together with any additional shares of Company Common Stock pursuant to Section 6 hereof, the “Shares”);
and

 

WHEREAS, as a condition to
their willingness to enter into the Merger Agreement, Parent and the Company have required that Stockholder, and Stockholder has agreed
to, execute and deliver this Agreement.

 

NOW, THEREFORE, in consideration
of the foregoing and the respective representations, warranties, covenants, and agreements set forth below and for other good and valuable
consideration, the receipt, sufficiency, and adequacy of which are hereby acknowledged, the Parties hereto, intending to be legally bound,
do hereby agree as follows:

 

		1.	Definitions.

 

For purposes of this Agreement,
capitalized terms used and not otherwise defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement.
When used in this Agreement, the following terms in all of their tenses, cases, and correlative forms shall have the meanings assigned
to them in this Section 1.

 

(a)             “Affiliate”
means with respect to any Person, any other Person directly or indirectly, controlling, controlled by, or under common control with,
such Person, through one or more intermediaries or otherwise; provided, however, that solely for purposes of this Agreement, notwithstanding
anything to the contrary set forth herein, neither the Company nor any of its Subsidiaries shall be deemed to be a Subsidiary or Affiliate
of Stockholder; provided, further, that, for the avoidance of doubt, any member of Stockholder shall be deemed an Affiliate Stockholder;
and provided, further, that an Affiliate of Stockholder shall include any investment fund, vehicle or holding company of which Stockholder
or an affiliate thereof serves as the general partner, managing member or discretionary manager or advisor.

 

     

     

    

 

(b)            “Beneficially
Own” or “Beneficial Ownership” has the meaning assigned to such term in Rule 13d-3 under
the Exchange Act, and a Person’s beneficial ownership of securities shall be calculated in accordance with the provisions of such
rule (in each case, irrespective of whether or not such rule is actually applicable in such circumstance). For the avoidance
of doubt, “Beneficially Own” and “Beneficial Ownership” shall also include record
ownership of securities.

 

(c)            “Beneficial
Owner” shall mean the Person who Beneficially Owns the referenced securities.

 

		2.	Representations
                                            of Stockholder. Stockholder represents and warrants to Parent that:

 

(a)            Ownership
of Shares. Stockholder (i) is the Beneficial Owner of all of the Original Shares free and clear of any proxy, voting restriction,
adverse claim, or other Encumbrances, other than those created by this Agreement or under applicable federal or state securities laws;
and (ii) has the sole voting power over all of the Original Shares. Except as expressly provided by this Agreement, there are no
options, warrants, or other rights, agreements, arrangements, or commitments of any character to which Stockholder is a party relating
to the pledge, disposition, or voting of any of the Original Shares and there are no voting trusts or voting agreements with respect
to the Original Shares.

 

(b)            Disclosure
of All Shares Owned. Neither Stockholder nor any of its Affiliates Beneficially Owns any shares of Company Common Stock other than
the Original Shares.

 

(c)            Power
and Authority; Binding Agreement. Stockholder has full limited liability company power and authority to enter into, execute, and
deliver this Agreement and to perform fully Stockholder’s obligations hereunder (including the proxy described in Section 3(b) below)).
This Agreement has been duly and validly executed and delivered by Stockholder and constitutes the legal, valid, and binding obligation
of Stockholder, enforceable against Stockholder in accordance with its terms.

 

(d)            No
Conflict. The execution and delivery of this Agreement by Stockholder does not, and the consummation of the transactions contemplated
hereby and the compliance with the provisions hereof will not, conflict with or violate any Law applicable to Stockholder or result in
any breach of or violation of, or constitute a default (or an event that with notice or lapse of time or both would become a default)
under, or give to others any rights of termination, amendment, acceleration, or cancellation of, or result in the creation of any Encumbrance
on any of the Shares pursuant to, any agreement or other instrument or obligation, including organizational documents binding upon Stockholder
or any of the Shares.

 

(e)            No
Consents. No Consent, order or declaration of any Governmental Entity or any other Person on the part of Stockholder is required
in connection with the valid execution and delivery of this Agreement.

 

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(f)            No
Litigation. There is no Proceeding pending against, or to the knowledge of Stockholder, threatened against or affecting, Stockholder
that could reasonably be expected to materially impair or materially adversely affect the ability of Stockholder to perform Stockholder’s
obligations hereunder or to consummate the transactions contemplated by this Agreement on a timely basis.

 

		3.	Agreement
                                            to Vote Shares.

 

Stockholder irrevocably and
unconditionally agrees during the term of this Agreement, at any annual or special meeting of the Company called with respect to the
following matters, and at every adjournment or postponement thereof (each, a “Covered Meeting”), to appear at any
such meeting or otherwise cause the Shares to be counted as present thereat for purpose of establishing a quorum and vote or cause the
holder of record to vote the Shares at such meeting (i) in favor of (1) adoption of the Merger Agreement and approval of any
other matters necessary for consummation of the transactions contemplated by the Merger Agreement, including the Merger and (2) any
proposal to adjourn or postpone such meeting of stockholders of the Company to a later date if there are not sufficient votes to approve
the Merger; and (ii) against (1) any Company Competing Proposal or any of the transactions contemplated thereby, (2) any
action, proposal, transaction, or agreement which could reasonably be expected to result in a breach of any covenant, representation
or warranty, or any other obligation or agreement of the Company under the Merger Agreement or of Stockholder under this Agreement, and
(3) any action, proposal, transaction, or agreement that could reasonably be expected to impede, interfere with, delay, discourage,
adversely affect, or inhibit the timely consummation of the Merger or the fulfillment of Parent’s, the Company’s or Merger
Sub’s conditions under the Merger Agreement or change in any manner the voting rights of any class of shares of the Company (including
any amendments to the Company’s Organizational Documents). Any attempt by the Stockholder to vote, consent or express dissent with
respect to (or otherwise to utilize the voting power of), the Shares in contravention of this Section 3 shall be null and
void ab initio.

 

		4.	No
                                            Voting Trusts or Other Arrangement.

 

Stockholder agrees that during
the term of this Agreement Stockholder will not, and will not permit any Affiliate to, deposit any of the Shares in a voting trust, grant
any proxies with respect to the Shares, or subject any of the Shares to any arrangement with respect to the voting of the Shares other
than agreements entered into with Parent.

 

		5.	Transfer
                                            and Encumbrance.

 

Stockholder agrees that prior
to a shareholder vote on the Merger Agreement and the other items enumerated in Section 3 hereto at a Covered Meeting, Stockholder
will not, directly or indirectly, transfer, sell, offer, exchange, assign, pledge, convey any legal or Beneficial Ownership interest
in or otherwise dispose of (by merger (including by conversion into securities or other consideration but excluding any disposition made
by the Stockholder pursuant to the Merger and the transactions contemplated by the Merger Agreement), by tendering into any tender or
exchange offer, by operation of Law or otherwise) or Encumber (“Transfer”) any of the Shares or enter into
any contract, option or other agreement with respect to, or consent to, a Transfer of any of the Shares or Stockholder’s voting
or economic interest therein. This Section 5 shall not prohibit a Transfer of the Shares by Stockholder to an Affiliate of
Stockholder; provided, that a Transfer referred to in this sentence shall be permitted only if, as a precondition to such Transfer, the
transferee agrees in a writing, reasonably satisfactory in form and substance to Parent, to be bound by all of the terms of this Agreement.
Any attempted Transfer of Shares or any interest therein in violation of this Section 5 shall, to the fullest extent permitted
by Law, be null and void ab initio. If any involuntary Transfer of any of Stockholder’s Shares shall occur, the transferee
(which term, as used herein, shall include any and all transferees and subsequent transferees of the initial transferee) shall take and
hold such Shares subject to all of the restrictions, liabilities and rights under this Agreement, which shall continue in full force
and effect until valid termination of this Agreement. For the avoidance of doubt, nothing in this Agreement will restrict the Stockholder
from Transferring any Shares following a shareholder vote on the Merger Agreement and the other items enumerated in Section 3
hereto at a Covered Meeting, regardless of the outcome of such vote.

 

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		6.	Additional
                                            Purchases; Adjustments.

 

Stockholder agrees that any
shares of Company Common Stock and any other shares of capital stock or other equity of the Company that Stockholder purchases, acquires
the voting power or otherwise acquires Beneficial Ownership of after the execution of this Agreement and prior to the record date for
any Covered Meeting shall be subject to the terms and conditions of this Agreement to the same extent as if they constituted Shares as
of the date hereof for all purposes of this Agreement, and Stockholder shall promptly notify the Company of the existence of any such
after-acquired Shares. In the event of any stock split, stock dividend, merger, reorganization, recapitalization, reclassification, combination,
exchange of shares or the like of the capital stock of the Company affecting the Shares, the terms of this Agreement shall apply to the
resulting securities and such resulting securities shall be subject to the terms and conditions of this Agreement to the same extent
as if they constituted Shares as of the date hereof for all purposes of this Agreement.

 

		7.	Waiver
                                            of Appraisal and Dissenters’ Rights and Certain Other Actions.

 

(a)            Waiver
of Appraisal and Dissenters’ Rights. To the fullest extent permitted by Law, Stockholder hereby irrevocably and unconditionally
waives, and agrees not to assert or perfect, any rights of appraisal (including under Section 262 of the DGCL) or rights to dissent
in connection with the Merger that Stockholder may have by virtue of ownership of the Shares.

 

(b)            Waiver
of Certain Other Actions. Stockholder hereby agrees not to commence, join in, and agrees to take all actions necessary to opt out
of any class in any class action with respect to, any claim, derivative or otherwise, against Parent, Merger Sub or the Company or any
of their respective Affiliates and each of their successors or directors relating to the negotiation, execution or delivery of this Agreement
or the Merger Agreement or the consummation of the transactions contemplated hereby or thereby, including any claim (a) challenging
the validity of, or seeking to enjoin the operation of, any provision of this Agreement or the Merger Agreement (including any claim
seeking to enjoin or delay the Closing) or (b) alleging a breach of any fiduciary duty of the Company Board in connection with the
negotiation and entry into this Agreement, the Merger Agreement or the transactions contemplated hereby or thereby, and hereby irrevocably
waives any claim or rights whatsoever with respect to any of the foregoing.

 

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		8.	Termination.

 

This Agreement shall terminate
upon the earliest to occur of (the “Expiration Time”): (a) the Effective Time; (b) the date on which
the Merger Agreement is terminated in accordance with its terms; (c) the termination of this Agreement by mutual written consent
of the Parties; and (d) the date of any modification, waiver or amendment to the Merger Agreement effected without the Stockholder’s
consent that (i) decreases the amount or changes the form of consideration payable to all of the shareholders of the Company pursuant
to the terms of the Merger Agreement as in effect on the date of this Agreement or (ii) otherwise materially adversely affects the
interests of the Stockholder or the stockholders of the Company. Nothing in this Section 8 shall relieve or otherwise limit
the liability of any Party for any breach of this Agreement incurred prior to such termination.

 

		9.	No
                                            Solicitation.

 

Subject to Section 10,
Stockholder shall not, and shall cause its Affiliates not to, and shall use its reasonable best efforts to cause its and their respective
officers, members, directors, partners, employees, accountants, financial and tax advisers and legal counsel (“Representatives”)
not to, directly or indirectly, take any of the actions listed in clauses (i) - (v) of Section 6.3(b) of the Merger
Agreement (without giving effect to any amendment or modification of such clauses after the date hereof). Stockholder shall, and shall
cause its Affiliates to, and shall use its reasonable best efforts to cause its and their Representatives to, immediately cease, and
cause to be terminated, any discussions or negotiations conducted before the date of this Agreement with any Person other than Parent
with respect to any inquiry, proposal or offer that constitutes, or would reasonably be expected to lead to, a Company Competing Proposal.

 

		10.	Fiduciary
                                            Duties.

 

Stockholder is entering into
this Agreement solely in its capacity as the record or Beneficial Owner of the Shares and nothing herein is intended to or shall limit
or affect any actions taken by any of Stockholder’s designees serving in his or her capacity as a director of the Company (or a
Subsidiary of the Company). The taking of any actions (or failures to act) by Stockholder’s designees serving as a director of
the Company (in such capacity as a director) shall not be deemed to constitute a breach of this Agreement.

 

		11.	Further
                                            Assurances.

 

Stockholder agrees, from
time to time, and without additional consideration, to execute and deliver such additional proxies, documents and other instruments and
to take all such further action as Parent may reasonably request to consummate and make effective the transactions contemplated by this
Agreement and to not take or permit any of its Affiliates to take any action that would reasonably be likely to adversely affect or delay
the ability to perform Stockholder’s covenants and agreements under this Agreement.

 

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		12.	Stop
                                            Transfer Instructions.

 

At all times commencing with
the execution and delivery of this Agreement and continuing until the Expiration Time, in furtherance of this Agreement, Stockholder
hereby authorizes and instructs the Company to instruct the Company’s transfer agent that there is a stop transfer order with respect
to all of the Shares (and that this Agreement places limits on the voting and transfer of the Shares), subject to the provisions hereof
and provided that any such stop transfer order and notice will immediately be withdrawn and terminated by the Company following the Expiration
Time.

 

		13.	Specific
                                            Performance.

 

The Parties agree that irreparable
damage, for which monetary damages would not be an adequate remedy, would occur in the event that any of the provisions of this Agreement
were not performed in accordance with their specific terms or were otherwise breached by the Parties. Prior to the Expiration Time, it
is accordingly agreed that the Parties shall be entitled to an injunction or injunctions, or any other appropriate form of specific performance
or equitable relief, to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in any court of
competent jurisdiction, in each case in accordance with this Section 13, this being in addition to any other remedy to which
they are entitled under the terms of this Agreement at Law or in equity. Each Party accordingly agrees not to raise any objections to
the availability of the equitable remedy of specific performance to prevent or restrain breaches or threatened breaches of, or to enforce
compliance with, the covenants and obligations of such party under this Agreement, all in accordance with the terms of this Section 13.
Each Party further agrees that no other Party or any other Person shall be required to obtain, furnish or post any bond or similar instrument
in connection with or as a condition to obtaining any remedy referred to in this Section 13, and each Party irrevocably waives
any right it may have to require the obtaining, furnishing or posting of any such bond or similar instrument.

 

		14.	Entire
                                            Agreement.

 

This Agreement (together
with the Merger Agreement and any other documents and instruments executed pursuant hereto) supersedes all prior agreements, written
or oral, between the Parties hereto with respect to the subject matter hereof and contains the entire agreement between the Parties with
respect to the subject matter hereof. This Agreement may not be amended or supplemented, and no provisions hereof may be modified or
waived, except by an instrument in writing signed by both of the Parties hereto. No waiver of any provisions hereof by either Party shall
be deemed a waiver of any other provisions hereof by such Party, nor shall any such waiver be deemed a continuing waiver of any provision
hereof by such Party.

 

		15.	Extension;
                                            Waiver.

 

At any time prior to the
Effective Time, the Parties may, to the extent legally allowed:

 

(a)            extend
the time for the performance of any of the obligations or acts of the other Party hereunder;

 

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(b)            waive
any inaccuracies in the representations and warranties of the other Party contained herein or in any document delivered pursuant hereto;
or

 

(c)            waive
compliance with any of the agreements or conditions of the other Party contained herein;

 

provided, that, in each case,
such waiver is made in writing and signed by the Party (or parties) against whom the waiver is to be effective.

 

Notwithstanding the foregoing,
no failure or delay by the Company or Parent in exercising any right hereunder shall operate as a waiver thereof nor shall any single
or partial exercise thereof preclude any other or further exercise of any other right hereunder. No agreement on the part of a Party
to any such extension or waiver shall be valid unless set forth in an instrument in writing signed on behalf of such Party. No waiver
by any of the Parties hereto of any default, misrepresentation or breach of representation, warranty, covenant or other agreement hereunder,
whether intentional or not, shall be deemed to extend to any prior or subsequent default, misrepresentation or breach or affect in any
way any rights arising by virtue of any prior or subsequent such occurrence.

 

		16.	Notices.

 

All
notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have
been given: (a) if delivered in person; (b) if transmitted by facsimile (but only upon confirmation of transmission by the
transmitting equipment); (c) if transmitted by electronic mail (“e-mail”) (upon confirmation of receipt;
provided, that each notice party shall use reasonable best efforts to confirm receipt of any such email correspondence promptly upon
receipt of such request); or (d) if transmitted by national overnight courier. Such communications must be sent to the respective
Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this
Section 16):

 

If to Parent or Merger Sub,
to:

 

Bonanza Creek Energy, Inc.

410 17th St.

Denver, CO 80202

Attention: Skip Marter, General Counsel

E-mail:
SMarter@bonanzacrk.com

 

with a required copy to (which copy shall not
constitute notice):

 

Vinson & Elkins LLP

1001 Fannin St.

Houston, TX 77002

Attention: Stephen M. Gill

E-mail: sgill@velaw.com

 

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and

 

Vinson & Elkins LLP

1114 Avenue of the Americas, 32nd Floor

New York, NY 10036

Attention: Shelley A. Barber

E-mail: sbarber@velaw.com

 

If to the Company, to:

 

Extraction Oil & Gas, Inc.

370 17th Street, Suite 5200

Denver, CO 80202

Attention: Eric Christ

E-mail: echrist@extractionog.com

 

with a required copy to (which copy shall not
constitute notice):

 

Kirkland & Ellis LLP

609 Main Street, Suite 4700

Houston, Texas 77002

Attention:
      Doug Bacon, P.C.

  Alex Rose

E-mail:             douglas.bacon@kirkland.com

  alex.rose@kirkland.com

 

If to Stockholder, to:

 

Kimmeridge Energy Management Company, LLC

412 West 15th Street, 11th Floor

New York, New York 10011

Attention: Tamar Goldstein, Esq.

E-mail: tamar.goldstein@kimmeridge.com

 

with a required copy to (which copy shall not
constitute notice):

 

Schulte Roth & Zabel LLP

919 Third Avenue

New York, NY 10022

Attention:       Eleazer
Klein, Esq.

  Adriana Schwartz, Esq.

E-mail:             eleazer.klein@srz.com

  adriana.schwartz@srz.com

 

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		17.	Miscellaneous.

 

(a)            Governing
Law. THIS AGREEMENT, AND ALL CLAIMS OR CAUSES OF ACTION (WHETHER IN CONTRACT OR TORT) THAT MAY BE BASED UPON, ARISE OUT
OF RELATE TO THIS AGREEMENT, OR THE NEGOTIATION, EXECUTION OR PERFORMANCE OF THIS AGREEMENT, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT GIVING EFFECT TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF.

 

(b)            Submission
to Jurisdiction. THE PARTIES IRREVOCABLY SUBMIT TO THE JURISDICTION OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE OR, IF
THE COURT OF CHANCERY OF THE STATE OF DELAWARE OR THE DELAWARE SUPREME COURT DETERMINES THAT, NOTWITHSTANDING SECTION 111 OF THE
DELAWARE GENERAL CORPORATIONS LAW, THE COURT OF CHANCERY DOES NOT HAVE OR SHOULD NOT EXERCISE SUBJECT MATTER JURISDICTION OVER SUCH MATTER,
THE SUPERIOR COURT OF THE STATE OF DELAWARE AND THE FEDERAL COURTS OF THE UNITED STATES OF AMERICA LOCATED IN THE STATE OF DELAWARE SOLELY
IN CONNECTION WITH ANY DISPUTE THAT ARISES IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS AGREEMENT AND THE
DOCUMENTS REFERRED TO IN THIS AGREEMENT OR IN RESPECT OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AND HEREBY WAIVE, AND AGREE
NOT TO ASSERT, AS A DEFENSE IN ANY ACTION, SUIT OR PROCEEDING FOR INTERPRETATION OR ENFORCEMENT HEREOF OR ANY SUCH DOCUMENT THAT IT IS
NOT SUBJECT THERETO OR THAT SUCH ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SAID COURTS OR THAT VENUE
THEREOF MAY NOT BE APPROPRIATE OR THAT THIS AGREEMENT OR ANY SUCH DOCUMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS, AND THE
PARTIES IRREVOCABLY AGREE THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING SHALL BE HEARD AND DETERMINED EXCLUSIVELY BY
SUCH A DELAWARE STATE OR FEDERAL COURT. THE PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH COURT JURISDICTION OVER THE PERSON OF SUCH PARTIES
AND OVER THE SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH SUCH ACTION, SUIT OR
PROCEEDING IN THE MANNER PROVIDED IN SECTION 15 OR IN SUCH OTHER MANNER AS MAY BE PERMITTED BY LAW SHALL BE VALID AND
SUFFICIENT SERVICE THEREOF.

 

(c)            Waiver
of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE
COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE
TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THE FOREGOING WAIVER; (III) SUCH PARTY
MAKES THE FOREGOING WAIVER VOLUNTARILY AND (IV) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS,
THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 17(c).

 

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(d)            Expenses.
All costs and expenses incurred in connection with this Agreement shall be paid by the Party incurring such cost or expense, whether
or not the Merger is consummated.

 

(e)            Severability.
If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity, illegality,
or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or
provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal, or unenforceable,
the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible
in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest
extent possible.

 

(f)            Counterparts.
This Agreement may be executed in one or more counterparts, including via facsimile or email in “portable document format”
(“.pdf”) form transmission, each of which shall be deemed to be an original but all of which together shall constitute
one and the same agreement and shall become effective when two or more counterparts have been signed by each of the Parties and delivered
to the other Parties, it being understood that all Parties need not sign the same counterpart.

 

(g)            Interpretation.
The Parties have participated jointly in negotiating and drafting this Agreement. In the event that an ambiguity or a question of
intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden
of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provision of this Agreement. When a reference
is made in this Agreement to Sections, such reference shall be to n Section of this Agreement unless otherwise indicated. The headings
contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.
Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be
deemed to be followed by the words “without limitation.” References to “the date hereof” shall mean the date
of this Agreement. As used in this Agreement, the “knowledge” of the Stockholder means the actual knowledge of any officer
of Holder after due inquiry.

 

(h)            Assignment.
Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by any of the parties hereto (whether
by operation of law or otherwise) without the prior written consent of the other Parties. Any purported assignment in contravention hereof
shall be null and void. Subject to the preceding sentence and except as set forth in Section 5, this Agreement will be binding
upon, inure to the benefit of and be enforceable by the Parties and their respective successors and permitted assigns.

 

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(i)             No
Third-Party Beneficiaries; Non-Recourse. Nothing in this Agreement, express or implied, is intended to or shall confer upon any Person
other than the Parties and their respective successors and permitted assigns any legal or equitable right, benefit, or remedy of any
nature under or by reason of this Agreement.

 

(j)             No
Ownership Interest. Nothing contained in this Agreement shall be deemed to vest in Parent any direct or indirect ownership or incidence
of ownership of or with respect to the Shares. All rights, ownership and economic benefits of and relating to the Shares shall remain
vested in and belong to Stockholder, and Parent shall not have any authority to manage, direct, restrict, regulate, govern or administer
any of the policies or operations of the Company or exercise any power or authority to direct Stockholder in the voting or disposition
of any Shares, except as otherwise expressly provided herein.

 

(k)            No
Partnership, Agency or Joint Venture. This Agreement is intended to create, and creates, a contractual relationship and is not intended
to create, and does not create, any agency, partnership, joint venture, any like relationship between the Parties or a presumption that
the Parties are in any way acting in concert or as a group with respect to the obligations or the transactions contemplated by this Agreement.

 

(l)             Disclosure.
Stockholder consents to and authorizes the publication and disclosure by the Company and Parent of Stockholder’s identity and holding
of Shares, and the terms of this Agreement (including, for avoidance of doubt, the disclosure of this Agreement), in any press release,
the Registration Statement, including the Joint Proxy Statement, as applicable, and any other disclosure document required in connection
with the Merger Agreement, the Merger and the transactions contemplated by the Merger Agreement.

 

(m)            Amendment.
This Agreement may not be amended, modified or supplemented in any manner, whether by course of conduct or otherwise, except by an instrument
in writing specifically designated as an amendment hereto, signed on behalf of each of the Parties.

 

(n)            Reliance.
Stockholder understands and acknowledges that Parent, Merger Sub and the Company are entering into the Merger Agreement in reliance upon
Stockholder’s execution and delivery of this Agreement.

 

[Signature Page Follows]

 

    11

     

    

 

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

 

	 	BONANZA CREEK ENERGY, INC.
	 	 	 
	 	 	 
	 	By	/s/ Eric T. Greager
	 	 	Name:	Eric T. Greager
	 	 	Title:	President and Chief Executive Officer

 

	 	EXTRACTION OIL & GAS, INC.
	 	 	 
	 	 	 
	 	By	/s/ Tom Tyree
	 	 	Name:	Tom Tyree
	 	 	Title:	Chief Executive Officer

 

	 	KIMMERIDGE ENERGY MANAGEMENT COMPANY, LLC
	 	 	 
	 	 	 
	 	By	/s/ Tamar Goldstein
	 	 	Name:	Tamar Goldstein
	 	 	Title:	General Counsel

 

    12

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