Document:

EX-4.22

 Exhibit 4.22 

Execution Version 

Petróleos Mexicanos 

1,984,688,669.00 8.750% Notes due 2029 

Issued Under U.S.$ 125,000,000,000 Medium-Term Notes Program, Series C 

jointly and severally guaranteed by 

Pemex Exploración y Producción, Pemex Transformación Industrial, Pemex Logística 

and their respective successors and assignees 
  

 

Exchange and Registration Rights Agreement 

June 2, 2022 
 To the Supporting Creditors
listed in Annex 1 hereto. 
 Ladies and Gentlemen: 

Petróleos Mexicanos (the “Issuer”), a productive state-owned company of the Federal Government of the United Mexican States
(“Mexico”), proposes to issue to you (collectively, the “Supporting Creditors”) upon the terms set forth in each of the Obligation Recognition and Repayment Agreements (as defined herein) its 8.750% Notes due 2029 (the
“Notes”), which are jointly and severally guaranteed by Pemex Exploración y Producción, Pemex Transformación Industrial, Pemex Logística and their respective successors and assignees (each a
“Guarantor” and, collectively, the “Guarantors”), each of which is a productive state-owned company of the Federal Government of Mexico. As an inducement to the Supporting Creditors to enter into each of the Obligation
Recognition and Repayment Agreements, and in satisfaction of a condition to the obligations of the Supporting Creditors thereunder for the benefit of holders (as defined herein) from time to time of the Registrable Securities (as defined herein),
the Issuer agrees with the Supporting Creditors, as follows: 
 1. Certain Definitions. For purposes of this Exchange and Registration
Rights Agreement, the following terms shall have the following respective meanings: 
 “Additional
Interest” shall have the meaning assigned thereto in Section 2(c) hereof. 

“Advice” shall have the meaning assigned thereto in Section 3(h) hereof. 

“Agreement” shall mean this Exchange and Registration Rights Agreement. 

“Base Interest” shall mean the interest that would otherwise accrue on the Securities under the terms thereof
and the Indenture, without giving effect to the provisions of this Agreement. 

 “broker-dealer” shall mean any broker or dealer registered
with the Commission under the Exchange Act. 
 “Commission” shall mean the United States Securities and
Exchange Commission, or any other federal agency at the time administering the Exchange Act or the Securities Act, whichever is the relevant statute for the particular purpose. 

“Effective Time” in the case of (i) an Exchange Registration, shall mean the time and date as of which
the Commission declares the Exchange Offer Registration Statement effective or as of which the Exchange Offer Registration Statement otherwise becomes effective and (ii) a Shelf Registration, shall mean the time and date as of which the
Commission declares the Shelf Registration Statement effective or as of which the Shelf Registration Statement otherwise becomes effective. 

“Electing Holder” shall mean any holder of Registrable Securities who has returned a completed and signed
Notice and Questionnaire to the Issuer in accordance with Section 3(d)(ii) hereof. 
 “Event Date”
shall have the meaning assigned thereto in Section 2(c) hereof. 
 “Exchange Act” shall mean the
Securities Exchange Act of 1934, or any successor thereto, as the same shall be amended from time to time. 

“Exchange Offer Registration Statement” shall have the meaning assigned thereto in Section 2(a) hereof.

 “Exchange Offers” shall have the meaning assigned thereto in Section 2(a) hereof. 

“Exchange Registration” shall have the meaning assigned thereto in Section 3(c) hereof. 

“Exchange Securities” shall have the meaning assigned thereto in Section 2(a) hereof. 

“Guaranties” shall have the meaning assigned thereto in the definition of “Securities” in this
Section 1. 
 “Guarantor” shall have the meaning assigned thereto in the first paragraph hereof. 

“Guaranty Agreement” shall have the meaning assigned thereto in the definition of “Securities” in
this Section 1. 
 “holder” shall mean any person who acquires Registrable Securities from time to time
(including any successors or assigns), in each case for so long as such person owns any Registrable Securities. 

“Indenture” shall mean the Indenture, dated as of January 27, 2009, between the Issuer and the Trustee,
as amended and supplemented by: (i) the first supplemental indenture, dated as of June 2, 2009, among the Issuer, the Trustee and Deutsche Bank AG, London Branch, as international paying and authenticating agent, (ii) the second
supplemental indenture, dated as of October 13, 2009, among the Issuer, the Trustee, Credit Suisse AG, as principal Swiss paying and authenticating agent, and BNP Paribas (Suisse) SA, as an additional Swiss paying agent,

  
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(iii) the third supplemental indenture, dated as of April 10, 2012, among the Issuer, the Trustee and Credit Suisse AG, as Swiss paying and authenticating agent, (iv) the fourth
supplemental indenture, dated as of June 24, 2014, between the Issuer and the Trustee, (v) the fifth supplemental indenture, dated as of October 15, 2014, between the Issuer and the Trustee, (vi) the sixth supplemental indenture,
dated as of December 8, 2015, among the Issuer, the Trustee, BNP Paribas (Suisse) SA, as principal Swiss paying and authenticating agent, and Credit Suisse AG, as an additional Swiss paying agent, (vii) the seventh supplemental indenture,
dated as of June 14, 2016, among the Issuer, the Trustee, Credit Suisse AG, as principal Swiss paying and authenticating agent, and UBS AG, as an additional Swiss paying agent, (viii) the eighth supplemental indenture, dated as of
February 16, 2018, between the Issuer and the Trustee, and (ix) the ninth supplemental indenture, dated as of June 4, 2018, among the Issuer, the Trustee, BNP Paribas (Suisse) SA, as principal Swiss paying and authenticating agent and
UBS AG, as an additional Swiss paying agent, and as the same shall be further amended from time to time. 

“Issuer” shall have the meaning assigned thereto in the first paragraph hereof. 

“Mexico” shall have the meaning assigned thereto in the first paragraph hereof. 

“Notice and Questionnaire” shall mean a Notice of Registration Statement and Selling Securityholder
Questionnaire substantially in the form of Exhibit A hereto. 
 “Obligation Recognition and Repayment
Agreements” shall mean each of that certain agreements entered into as of May 31, 2022 by and between the Company and the supporting creditor signatory thereto. 

“person” shall mean a corporation, association, partnership, organization, business, individual, government or
political subdivision thereof or governmental agency. 
 “Registrable Securities” shall mean the Securities;
provided, however, that a Security shall cease to be a Registrable Security when: (i) in the circumstances contemplated by Section 2(a) hereof, the Security has been exchanged for an Exchange Security in an Exchange
Offer as contemplated in Section 2(a) hereof (provided further, however, that any Exchange Security that, pursuant to the last two sentences of Section 2(a), is included in a prospectus for use in connection with resales by
broker-dealers shall be deemed to be a Registrable Security with respect to Sections 5, 6 and 9 until the earlier of the resale of such Registrable Security or the expiration of the 180-day period
referred to in Section 2(a)); (ii) in the circumstances contemplated by Section 2(b) hereof, a Shelf Registration Statement registering such Security under the Securities Act has been declared or becomes effective, and such Security
has been sold or otherwise transferred by the holder thereof pursuant to and in a manner contemplated by such effective Shelf Registration Statement; (iii) such Security is sold pursuant to Rule 144 under circumstances in which any legend borne
by such Security relating to restrictions on transferability thereof, under the Securities Act or otherwise, is removed by the Issuer or pursuant to the Indenture; (iv) such Security is freely transferable pursuant to Rule 144; or (v) such
Security shall cease to be outstanding. 
 “Registration Default” shall have the meaning assigned thereto in
Section 2(c) hereof. 
 “Registration Expenses” shall have the meaning assigned thereto in
Section 4 hereof. 

  
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 “Resale Period” shall have the meaning assigned thereto in
Section 2(a) hereof. 
 “Restricted Holder” shall mean (i) a holder that is an affiliate of the
Issuer within the meaning of Rule 405, (ii) a holder who acquires Exchange Securities outside the ordinary course of such holder’s business or (iii) a holder who is engaged in, or intends to engage in, or has arrangements or
understandings with any person to participate in, the Exchange Offers for the purpose of distributing Exchange Securities. 

“Rule 144,” “Rule 405” and
“Rule 415” shall mean, in each case, such rule promulgated under the Securities Act (or any successor provision), as the same shall be amended from time to time. 

“Securities” shall mean the Notes (CUSIP Nos.: 71654QDJ8 (144A), P7S08VCA7 (Regulation S), and 71654QDK5
(Accredited Investors)) to be issued to the Supporting Creditors, and securities issued in exchange therefor or in lieu thereof pursuant to the Indenture. Each Security is entitled to the benefit of the guaranties (the “Guaranties”)
provided for in the guaranty agreement, dated as of July 29, 1996, among the Issuer and each of the Guarantors (the “Guaranty Agreement”) and, unless the context otherwise requires, any reference herein to
“Securities,” “Exchange Securities” or “Registrable Securities” shall include a reference to the related Guaranties. 

“Securities Act” shall mean the Securities Act of 1933, or any successor thereto, as the same shall be amended
from time to time. 
 “Settlement Date” shall mean the date on which the Registrable Securities are
initially issued. 
 “Shelf Registration” shall have the meaning assigned thereto in Section 2(b)
hereof. 
 “Shelf Registration Statement” shall have the meaning assigned thereto in Section 2(b)
hereof. 
 “Supporting Creditors” shall have the meaning assigned thereto in the first paragraph hereof.

 “Trust Indenture Act” shall mean the Trust Indenture Act of 1939, or any successor thereto, and the
rules, regulations and forms promulgated thereunder, all as the same shall be amended from time to time. 

“Trustee” shall mean Deutsche Bank Trust Company Americas. 

Unless the context otherwise requires, any reference herein to a “Section” or “clause” refers to a Section or
clause, as the case may be, of this Agreement, and the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Section or other
subdivision. 

  
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 2. Registration Under the Securities Act. 

(a) Except as set forth in Section 2(b) below, the Issuer agrees to use its best efforts to file or cause to be filed
under the Securities Act, as soon as practicable, but no later than on or before September 30, 2022, a registration statement relating to offers to exchange (such registration statement, the “Exchange Offer Registration Statement”,
and such offers, the “Exchange Offers”) any and all of the Notes for a like aggregate principal amount of debt securities issued by the Issuer and guaranteed by the Guarantors, which debt securities and guaranties are substantially
identical to the Securities and the related Guaranties, respectively (and are entitled to the benefits of a trust indenture which is substantially identical to the Indenture or is the Indenture and which has been qualified under the Trust Indenture
Act), except that they have been registered pursuant to an effective registration statement under the Securities Act, and do not contain provisions for the additional interest contemplated in Section 2(c) below (such new debt securities
hereinafter called the “Exchange Securities”). The Issuer agrees to use its best efforts to cause the Exchange Offer Registration Statement to become effective by the Commission under the Securities Act as soon as practicable, but no later
than March 1, 2023. The Exchange Offers will be registered under the Securities Act on the appropriate form and will comply with all applicable rules and regulations under the Exchange Act. The Issuer further agrees to use its best efforts to
commence and complete the Exchange Offers promptly, but no later than April 5, 2023, hold the Exchange Offers open for at least 20 business days and issue and deliver Exchange Securities in exchange for all Registrable Securities that have
been properly tendered and not withdrawn on or prior to the expiration of the Exchange Offers. Each holder of Registrable Securities who wishes to exchange such Registrable Securities for Exchange Securities in, and in accordance with the terms of,
the Exchange Offers will be required to make certain customary representations in connection therewith, including representations that such holder is not a Restricted Holder. Upon the effectiveness of the Exchange Offer Registration Statement, the
Issuer shall promptly commence the Exchange Offers, it being the objective of such Exchange Offers that each holder (other than a Restricted Holder) electing to participate in the Exchange Offers will receive Exchange Securities that are, upon
receipt, transferable by each such holder without restriction under the Securities Act and the Exchange Act and without material restrictions under the blue sky or securities laws of a substantial majority of the states of the United States of
America. The Exchange Offers shall be deemed to have been completed upon the earlier to occur of (i) the Issuer having exchanged the Exchange Securities for all outstanding Registrable Securities pursuant to the Exchange Offers and
(ii) the Issuer having exchanged, pursuant to the Exchange Offers, Exchange Securities for all Registrable Securities that have been properly tendered and not withdrawn before the expiration of the Exchange Offers, which shall be on a date that
is at least 20 business days following the commencement of the Exchange Offers. The Issuer agrees (x) to include in the Exchange Offer Registration Statement a prospectus for use in any resales by any holder of Exchange Securities that is a
broker-dealer and (y) to keep such Exchange Offer Registration Statement effective for a period (the “Resale Period”) beginning when Exchange Securities are first issued in the Exchange Offers and ending upon the earlier of the
expiration of the 180th day after the Exchange Offers have been completed or such time as such broker-dealers no longer own any Registrable Securities. With respect to such Exchange Offer
Registration Statement, such holders shall have the benefit of the rights of indemnification and contribution set forth in Sections 6(a), (c), (d) and (e) hereof. 

  
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 (b) If (i) on or prior to the time the Exchange Offers are completed,
existing Commission interpretations are changed such that the debt securities or the related guaranties received by holders other than Restricted Holders in the Exchange Offers for Registrable Securities are not or would not be, upon receipt,
transferable by each such holder without restriction under the Securities Act, (ii) the Exchange Offers have not been completed on or before April 5, 2023 or (iii) any holder notifies the Issuer prior to 20 days after the
consummation of the Exchange Offers that (A) based on the advice of counsel, due to a change in law or Commission policy it may not resell the Exchange Securities acquired by it in the Exchange Offers to the public without delivering a
prospectus and the prospectus contained in the Exchange Offer Registration Statement is not appropriate or available for such resales by such holder or (B) it is a purchaser and owns Registrable Securities acquired directly from the Issuer or
an affiliate of the Issuer or (C) on or prior to the consummation of the Exchange Offers existing laws, regulations and/or applicable Commission interpretations have been changed such that the holders of at least a majority in aggregate
principal amount of the Registrable Securities would not be able to resell the Exchange Securities acquired by them in, and in accordance with the terms of, the Exchange Offers to the public without restriction under the Securities Act and without
restriction under applicable blue sky or state securities laws, the Issuer shall, in lieu of (or, in the case of clause (iii), in addition to) conducting the Exchange Offers contemplated by Section 2(a), use its best efforts to file or
cause to be filed under the Securities Act as soon as practicable, but no later than the later of March 1, 2023 or 20 business days after the time such obligation to file arises (but in no event prior to August 1 or after
September 30 of any calendar year), a “shelf” registration statement providing for the registration of, and the sale on a continuous or delayed basis by the holders of, all of the Registrable Securities, pursuant to Rule 415 or any
similar rule that may be adopted by the Commission (such filing, the “Shelf Registration” and such registration statement, the “Shelf Registration Statement”). 

The Issuer agrees to use its best efforts (x) to cause the Shelf Registration Statement to become or be declared effective
on or prior to 60 days after such filing was required to be made hereunder (but in no event prior to August 1 or after September 30 of any calendar year) and (y) to keep such Shelf Registration Statement continuously effective
for a period of one year (or, if shorter, the period after which Rule 144(d) generally becomes available to non-affiliates of the Issuer) from the effective date of the Shelf Registration Statement
(subject to extension pursuant to Sections 2(d) and 3(h)); provided, however, that if such Shelf Registration Statement has been filed solely at the request of the Supporting Creditors pursuant to clause (iii)(B) of
this Section 2(b), the Issuer shall only be required to use its best efforts to keep such Shelf Registration Statement continuously effective for a period of one year from the date of issuance of the Securities (subject to extension
pursuant to Sections 2(d) and 3(h)) or until all of the Securities covered by the Shelf Registration Statement have been sold pursuant to the Shelf Registration Statement or cease to be outstanding; provided further, however, that
no holder shall be entitled to be named as a selling securityholder in the Shelf Registration Statement or to use the prospectus forming a part thereof for resales of Registrable Securities unless such holder is an Electing Holder. The Issuer
further agrees to supplement or make amendments to the Shelf Registration Statement, as and when required by the rules, regulations or instructions applicable to the registration form used by the Issuer for such Shelf Registration Statement or by
the Securities Act or rules and regulations thereunder for shelf registration, and the Issuer agrees to furnish to each Electing Holder copies of any such supplement or amendment promptly after its being used or promptly following its filing with
the Commission. 

  
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 (c) If (i) the Exchange Offer Registration Statement (or a Shelf
Registration Statement in lieu thereof) is not filed on or before September 30, 2022, (ii) the Exchange Offer Registration Statement (or a Shelf Registration Statement in lieu thereof) is not declared effective by the Commission on or
before March 1, 2023, (iii) the Exchange Offers are not consummated on or before April 5, 2023, (iv) a Shelf Registration Statement required to be filed is not filed on or before the date specified above for such filing,
(v) a Shelf Registration Statement otherwise required to be filed is not declared effective on or before the date specified above for effectiveness thereof or (vi) a Shelf Registration Statement is declared effective but thereafter,
subject to certain exceptions, ceases to be effective or usable (whether due to a stop order or otherwise) in connection with resales of Registrable Securities during the period specified in Section 2(b) above (each such event referred to in
clauses (i) through (vi) above, a “Registration Default”), then, in the case of a Registration Default referred to in clause (i), (ii) or (iii) above, the interest rate on all Registrable Securities or, in the
case of a Registration Default referred to in clause (iv), (v) or (vi) above, the interest rate on the Registrable Securities to which such Registration Default relates, will increase by 0.25% per annum with respect to each 90-day period that passes until all such Registration Defaults have been cured, up to a maximum amount of 1.00% per annum (“Additional Interest”); provided, however, that such Additional
Interest will cease to accrue at the later of (i) the date on which the Securities become freely transferable pursuant to Rule 144 and (ii) the date on which the Barclays Capital U.S. Aggregate Bond Index is modified to permit the
inclusion of freely transferable securities that have not been registered under the Securities Act. Upon the cure of any such Registration Default, the interest rate borne by the Registrable Securities shall be reduced thereafter by the full amount
of any such increase or increases that resulted from such Registration Default. 
 The Issuer shall notify the Trustee within
three business days after each and every date on which an event occurs in respect of which Additional Interest is required to be paid (an “Event Date”). Additional Interest shall be paid by depositing with the Trustee, in trust, for
the benefit of the holders, on or before the applicable semiannual interest payment date, immediately available funds in sums sufficient to pay the Additional Interest then due. The Additional Interest due shall be payable on each interest payment
date to the record holder entitled to receive the interest payment to be paid on such date as set forth in the Indenture. Each obligation to pay Additional Interest shall be deemed to accrue from and including the day following the applicable Event
Date. 
 (d) Any Exchange Offer Registration Statement pursuant to Section 2(a) and any Shelf Registration Statement
pursuant to Section 2(b) will not be deemed to have become effective unless it has been declared effective by the Commission; provided, however, that, if after it has been declared effective, the offering of Securities pursuant to
a Shelf Registration Statement is subject to any stop order, injunction or other order or requirement of the Commission or any other governmental agency or court, such Registration Statement will be deemed not to have been effective for such
Securities during the period it was so subject, until the offering of such Securities pursuant to such Registration Statement may legally resume. 

  
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 In no event shall the Issuer be deemed to be in breach of its obligations
under the second paragraph of Section 2(b) nor shall a Registration Default described in Section 2(c)(vi) be deemed to have occurred (i) as a result of any action required by applicable law which renders the Issuer unable to comply
with the Commission disclosure requirements or (ii) if compliance with its obligations under this Agreement to maintain the effectiveness of, supplement or amend any Registration Statement, upon advice of U.S. counsel to the Issuer, would
require additional disclosure of material non-public information by the Issuer or its subsidiaries as to which, and so long as, the Issuer or its subsidiaries has a bona fide business purpose in
preserving its confidentiality; provided, however, that the maximum period of time during which the Issuer shall be entitled to postpone the effectiveness, supplementing or amending of any Registration Statement pursuant to
clause (ii) of this paragraph shall be 45 calendar days; provided, further, that (x) upon the exercise of its right under clause (ii) of this paragraph to postpone the effectiveness, supplementing or
amending of any such Registration Statement, the Issuer shall give the holders prompt written notice of such exercise and an approximation of the anticipated length of such postponement and (y) after the exercise of its right under
clause (ii) of this paragraph to postpone the effectiveness, supplementing or amending of any such Registration Statement, the Issuer shall not, within six months of the expiration of any such postponement, exercise again its right of
postponement under clause (ii) of this paragraph. The holders hereby acknowledge that any notice given by the Issuer pursuant to this paragraph may constitute material non-public information and that the
United States securities laws prohibit any person who has material non-public information about a company from purchasing or selling securities of the company or from communicating such information to any
other person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell such securities. 

(e) The Issuer shall take all actions necessary or advisable to cause the Guaranties to be registered under the registration
statement contemplated in Section 2(a) or 2(b) hereof, as applicable. 
 (f) Any reference herein to a registration
statement as of any time shall be deemed to include any document incorporated, or deemed to be incorporated, therein by reference as of such time and any reference herein to any post-effective amendment to a registration statement as of any time
shall be deemed to include any document incorporated, or deemed to be incorporated, therein by reference as of such time. 
 3.
Registration Procedures. 
 If the Issuer files a registration statement pursuant to Section 2(a) or
Section 2(b), the following provisions shall apply: 
 (a) At or before the Effective Time of the Exchange Offers or the
Shelf Registration, as the case may be, the Issuer shall cause the Indenture to be qualified under the Trust Indenture Act. 

(b) In the event that such qualification would require the appointment of a new trustee under the Indenture, the Issuer shall
appoint a new trustee thereunder pursuant to the applicable provisions of the Indenture. 

  
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 (c) In connection with the Issuer’s obligations with respect to the
registration of Exchange Securities as contemplated by Section 2(a) (the “Exchange Registration”), if applicable, the Issuer shall, as soon as practicable (or as otherwise specified): 

(i) prepare and file with the Commission, as soon as practicable but no later than September 30, 2022, an Exchange Offer
Registration Statement on any form which may be utilized by the Issuer and which shall permit the Exchange Offers and use its best efforts to cause such Exchange Offer Registration Statement to become effective as soon as practicable thereafter, but
no later than March 1, 2023; 
 (ii) prepare and file with the Commission such amendments and supplements to such
Exchange Offer Registration Statement and the prospectus included therein as may be necessary to effect and maintain the effectiveness of such Exchange Offer Registration Statement for the periods and purposes contemplated in Section 2(a)
hereof and as may be required by the applicable rules and regulations of the Commission and the instructions applicable to the form of such Exchange Offer Registration Statement, and promptly provide each broker-dealer holding Exchange Securities
that has identified itself to the Issuer as such with such number of copies of the prospectus included therein (as then amended or supplemented), in conformity in all material respects with the applicable requirements of the Securities Act and the
Trust Indenture Act and the rules and regulations of the Commission thereunder, as such broker-dealer reasonably may request prior to the expiration of the Resale Period, for use in connection with resales of Exchange Securities; 

(iii) promptly notify each broker-dealer that has identified itself to the Issuer as such and requested copies of the
prospectus included in such registration statement, and confirm such advice in writing, (A) when such Exchange Offer Registration Statement or the prospectus included therein or any prospectus amendment or supplement or post-effective amendment
has been filed, and, with respect to such Exchange Offer Registration Statement or any post-effective amendment, when the same has become effective, (B) of any request by the Commission or by the blue sky or securities commissioner or regulator
of any state for amendments or supplements to such Exchange Offer Registration Statement or prospectus or for additional information after such Exchange Offer Registration Statement has become effective, (C) of the issuance by the Commission of
any stop order suspending the effectiveness of such Exchange Offer Registration Statement or the initiation or threatening of any proceedings for that purpose, (D) if at any time the representations and warranties of the Issuer contemplated by
Section 5 cease to be true and correct in all material respects, (E) of the receipt by the Issuer of any notification with respect to the suspension of the qualification of the Exchange Securities for sale in any jurisdiction or the
initiation or threatening of any proceeding for such purpose, or (F) at any time during the Resale Period when a prospectus is required to be delivered under the Securities Act, that such Exchange Offer Registration Statement, prospectus,
prospectus amendment or supplement or post-effective prospectus amendment does not conform in all material respects to the applicable requirements of the Securities Act and the Trust Indenture Act and the rules and regulations of the Commission
thereunder or contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; and each such
broker-dealer agrees to suspend use of such prospectus, prospectus amendment or supplement or post-effective amendment until the Issuer has amended or supplemented the prospectus to correct such misstatement or omission; 

  
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 (iv) in the event that the Issuer would be required, pursuant to
Section 3(c)(iii)(F) above, to notify each broker-dealer holding Exchange Securities that has identified itself to the Issuer as such, without delay prepare and furnish to each such holder a reasonable number of copies of a prospectus
supplemented or amended so that, as thereafter delivered to purchasers of such Exchange Securities during the Resale Period, such prospectus shall conform in all material respects to the applicable requirements of the Securities Act and the Trust
Indenture Act and the rules and regulations of the Commission thereunder and shall not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing; 
 (v) use its best efforts to obtain the withdrawal of any order
suspending the effectiveness of such Exchange Offer Registration Statement or any post-effective amendment thereto at the earliest practicable date; 

(vi) use its best efforts to (A) register or qualify the Exchange Securities under the securities laws or blue sky laws
of such jurisdictions as are contemplated by Section 2(a) no later than the commencement of the Exchange Offers, (B) keep such registrations or qualifications in effect and comply with such laws so as to permit the continuance of offers,
sales and dealings therein in such jurisdictions until the expiration of the Resale Period and (C) take any and all other actions as may be reasonably necessary or advisable to enable each broker-dealer holding Exchange Securities that has
identified itself to the Issuer as such to consummate the disposition thereof in such jurisdictions; provided, however, that the Issuer shall not be required for any such purpose to (1) qualify as a foreign corporation in any
jurisdiction wherein it would not otherwise be required to qualify but for the requirements of this Section 3(c)(vi), (2) consent to general service of process in any such jurisdiction or (3) make any changes to its certificate of
incorporation or by-laws or any agreement between it and its stockholders; and 

(vii) comply with all applicable rules and regulations of the Commission, and make generally available to its securityholders,
as soon as practicable but no later than 24 months after the effective date of such Exchange Offer Registration Statement, an earnings statement of the Issuer and its subsidiaries complying with Section 11(a) of the Securities Act
(including, at the option of the Issuer, Rule 158 thereunder) (it being understood that the Issuer may satisfy its obligations under this clause through the filing of its annual report on
Form 20-F for the first full fiscal year after such effective date). 

  
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 (d) In connection with the Issuer’s obligations with respect to the
Shelf Registration, if applicable, the Issuer shall, as soon as practicable (or as otherwise specified): 
 (i) prepare and
file with the Commission, as soon as practicable but in any case within the time periods specified in Section 2(b), a Shelf Registration Statement on any form which may be utilized by the Issuer and which shall register all of the Registrable
Securities for resale by the Electing Holders in accordance with such method or methods of disposition as may be specified by such Electing Holders and use its best efforts to cause such Shelf Registration Statement to become effective as soon as
practicable but in any case within the time periods specified in Section 2(b); 
 (ii) not less than 15 calendar
days prior to the Effective Time of the Shelf Registration Statement, mail the Notice and Questionnaire to the holders of Registrable Securities; no holder shall be entitled to be named as a selling securityholder in the Shelf Registration
Statement, and no holder shall be entitled to use the prospectus forming a part thereof for resales of Registrable Securities at any time, unless such holder has returned a completed and signed Notice and Questionnaire to the Issuer by the deadline
for response set forth therein; provided, however, that holders of Registrable Securities shall have at least 15 calendar days from the date on which the Notice and Questionnaire is first mailed to such holders to return a
completed and signed Notice and Questionnaire to the Issuer; 
 (iii) prepare and file with the Commission such amendments
and supplements to such Shelf Registration Statement and the prospectus included therein as may be necessary to effect and maintain the effectiveness of such Shelf Registration Statement for the period specified in Section 2(b) hereof and as
may be required by the applicable rules and regulations of the Commission and the instructions applicable to the form of such Shelf Registration Statement, and furnish to the Electing Holders copies of any such supplement or amendment simultaneously
with or promptly after its being used or filed with the Commission; 
 (iv) before filing any Shelf Registration Statement
or prospectus and each amendment or supplement thereto, provide (A) the Electing Holders, (B) the managing underwriters (which term, for purposes of this Agreement, shall include a person deemed to be an underwriter within the meaning of
Section 2(a)(11) of the Securities Act), if any, thereof, (C) counsel for any such managing underwriter or agent and (D) not more than one counsel for all of the Electing Holders, the opportunity to participate in the preparation of
such Shelf Registration Statement, each prospectus included therein or filed with the Commission and each amendment or supplement thereto; 

(v) for a reasonable period prior to the filing of such Shelf Registration Statement, and throughout the period specified in
Section 2(b), make available at reasonable times at the Issuer’s principal place of business or such other reasonable place for inspection by the persons referred to in Section 3(d)(iv) above who shall certify to the Issuer that
they have a current intention to sell the Registrable Securities pursuant to the Shelf Registration such financial and other information 

  
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and books and records of the Issuer, and cause the officers, employees, counsel and independent certified public accountants of the Issuer to respond to such inquiries, as shall be reasonably
necessary, in the reasonable judgment of the respective counsel referred to in such Section, to conduct a reasonable investigation within the meaning of Section 11 of the Securities Act; provided, however, that each such
party shall be required to maintain in confidence and not to disclose to any other person any information or records reasonably designated by the Issuer as being confidential, until such time as (A) such information becomes a matter of public
record (whether by virtue of its inclusion in such registration statement or otherwise), (B) such person shall be required so to disclose such information pursuant to a subpoena or order of any court or other governmental agency or body having
jurisdiction over the matter (subject to the requirements of such order, and only after such person shall have given the Issuer prompt prior written notice of such requirement) unless such release is against Mexican law, or (C) in an opinion
addressed to the Issuer of counsel experienced in such matters and approved by the Issuer, such information is required to be set forth in such Shelf Registration Statement or the prospectus included therein or in an amendment to such Shelf
Registration Statement or an amendment or supplement to such prospectus in order that such Shelf Registration Statement, prospectus, amendment or supplement, as the case may be, complies with applicable requirements of the federal securities laws
and the rules and regulations of the Commission and does not contain an untrue statement of a material fact or omit to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of
the circumstances then existing; 
 (vi) promptly notify each of the Electing Holders, any sales or placement agent therefor
and any underwriter thereof (which notification may be made through any managing underwriter that is a representative of such underwriter for such purpose) and confirm such advice in writing, (A) when such Shelf Registration Statement or the
prospectus included therein or any prospectus amendment or supplement or post-effective amendment has been filed, and, with respect to such Shelf Registration Statement or any post-effective amendment, when the same has become effective, (B) of
any request by the Commission and by the blue sky or securities commissioner or regulator of any state for amendments or supplements to such Shelf Registration Statement or prospectus or for additional information after such Shelf Registration has
become effective, (C) of the issuance by the Commission of any stop order suspending the effectiveness of such Shelf Registration Statement or the initiation or threatening of any proceedings for that purpose, (D) if at any time the
representations and warranties of the Issuer contemplated by Section 3(d)(xiii) or Section 5 or contained in any underwriting agreement or similar agreement relating to the offering cease to be true and correct in all material respects,
(E) of the receipt by the Issuer of any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose, or
(F) if at any time when a prospectus is required to be delivered under the Securities Act, that such Shelf Registration Statement, prospectus, prospectus amendment or supplement or post-effective amendment does not conform in all material
respects to the applicable requirements of the Securities Act and the Trust Indenture Act and the rules and regulations of the Commission thereunder or contains an untrue statement of a material fact or omits to state any material fact required to
be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 

  
 12 

 (vii) use its best efforts to obtain the withdrawal of any order suspending
the effectiveness of such registration statement or any post-effective amendment thereto at the earliest practicable date; 

(viii) if requested by any managing underwriter or underwriters, or any Electing Holder, promptly incorporate in a prospectus
supplement or post-effective amendment such information as is required by the applicable rules and regulations of the Commission and as such managing underwriter or underwriters, or such Electing Holder specifies should be included therein relating
to the terms of the sale of such Registrable Securities, including information with respect to the principal amount of Registrable Securities being sold by such Electing Holder or to any underwriters, the name and description of such Electing Holder
or underwriter, the offering price of such Registrable Securities and any discount, commission or other compensation payable in respect thereof, the purchase price being paid therefor by such underwriters and with respect to any other terms of the
offering of the Registrable Securities to be sold by such Electing Holder or to such underwriters; and make all required filings of such prospectus supplement or post-effective amendment promptly after notification of the matters to be incorporated
in such prospectus supplement or post-effective amendment; 
 (ix) furnish to each Electing Holder, therefor, each
underwriter, if any, thereof and the respective counsel referred to in Section 3(d)(iv) an executed copy (or, in the case of an Electing Holder, a conformed copy) of such Shelf Registration Statement, each such amendment and supplement thereto
(in each case including all exhibits thereto (in the case of an Electing Holder of Registrable Securities, upon request) and documents incorporated by reference therein) and such number of copies of such Shelf Registration Statement (excluding
exhibits thereto and documents incorporated by reference therein unless reasonably so requested by such Electing Holder, agent or underwriter, as the case may be) and of the prospectus included in such Shelf Registration Statement (including each
preliminary prospectus and any summary prospectus), in conformity in all material respects with the applicable requirements of the Securities Act and the Trust Indenture Act and the rules and regulations of the Commission thereunder, and such other
documents, as such Electing Holder, agent, if any, and underwriter, if any, may reasonably request in order to facilitate the offering and disposition of the Registrable Securities owned by such Electing Holder, offered or sold by such agent or
underwritten by such underwriter and to permit such Electing Holder, agent and underwriter to satisfy the prospectus delivery requirements of the Securities Act; and the Issuer hereby consents (subject to Section 3(h)) to the use of such
prospectus (including such preliminary and summary prospectus) and any amendment or supplement thereto by each such Electing Holder and by any such agent and underwriter, in each case in the form most recently provided to such person by the Issuer,
in connection with the offering and sale of the Registrable Securities covered by the prospectus (including such preliminary and summary prospectus) or any supplement or amendment thereto; 

  
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 (x) use best efforts to (A) register or qualify the Registrable
Securities to be included in such Shelf Registration Statement under such securities laws or blue sky laws of such jurisdictions as any Electing Holder and each underwriter, if any, thereof shall reasonably request, (B) keep such registrations
or qualifications in effect and comply with such laws so as to permit the continuance of offers, sales and dealings therein in such jurisdictions during the period the Shelf Registration is required to remain effective under Section 2(b) and
(C) take any and all other actions as may be reasonably necessary or advisable to enable each such Electing Holder, agent, if any, and underwriter, if any, to consummate the disposition in such jurisdictions of such Registrable Securities;
provided, however, that the Issuer shall not be required for any such purpose to (1) qualify as a foreign corporation in any jurisdiction wherein it would not otherwise be required to qualify but for the requirements of this
Section 3(d)(x), (2) consent to general service of process in any such jurisdiction or (3) make any changes to its certificate of incorporation or by-laws or any agreement between it and its
stockholders; 
 (xi) unless any Registrable Securities shall be in book-entry only form, cooperate with the Electing
Holders and the managing underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold, and, in the case of an underwritten offering, enable such Registrable Securities to be
in such denominations and registered in such names as the managing underwriters may request at least two business days prior to any sale of the Registrable Securities; 

(xii) enter into one or more underwriting agreements, engagement letters, agency agreements, “best efforts”
underwriting agreements or similar agreements, as appropriate, including customary provisions relating to indemnification and contribution, and take such other actions in connection therewith as any Electing Holders aggregating at least 20% in
aggregate principal amount of the Registrable Securities at the time outstanding shall request in order to expedite or facilitate the disposition of such Registrable Securities; 

(xiii) whether or not an agreement of the type referred to in Section 3(d)(xii) hereof is entered into and whether or not
any portion of the offering contemplated by the Shelf Registration is an underwritten offering or is made through a placement or sales agent or any other entity, (A) make such representations and warranties to the Electing Holders and the
underwriters, if any, thereof in form, substance and scope as are customarily made in connection with an offering of debt securities pursuant to any appropriate agreement or to a registration statement filed on the form applicable to the Shelf
Registration; (B) obtain opinions of counsel customary for a public offering of Securities to the Issuer in customary form and covering such matters, of the type customarily covered by such an opinion, as the managing underwriters, if any, or,
in the event there are no managing underwriters, the Electing Holders of at least a majority in aggregate principal amount of the Registrable Securities at the time outstanding may reasonably request, addressed to the managing underwriters (if any)
or such Electing Holder or Electing Holders and dated the effective date of such Shelf Registration Statement; (C) obtain a “cold comfort” letter or letters from the independent certified public accountants of the Issuer addressed to
the managing underwriters (if any) or, in the event there are no managing underwriters, use reasonable efforts to have such letters addressed to the selling Electing Holders, dated (i) the effective date of such Shelf Registration Statement and
(ii) the effective date of any prospectus supplement to the prospectus included in such Shelf Registration Statement or post-effective amendment to such Shelf Registration Statement which includes unaudited or audited financial statements as of
a date or for a period subsequent to that of the latest such statements included in such prospectus, such letter or letters to be in customary form and covering such matters of the type customarily covered by letters of such type; (D) deliver
such documents and certificates, including officers’ certificates, as may be reasonably requested by any Electing Holders of at least 20% in aggregate principal amount of the Registrable Securities at the time outstanding or the managing
underwriters, if any, thereof to evidence the accuracy of the representations and warranties made pursuant to clause (A) above or those contained in Section 5 hereof and the compliance with or satisfaction of any agreements or conditions
contained in the underwriting agreement or other agreement entered into by the Issuer; and (E) undertake such obligations relating to expense reimbursement, indemnification and contribution as are provided in Section 6 hereof; 

  
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 (xiv) notify in writing each holder of Registrable Securities of any
proposal by the Issuer to amend or waive any provision of this Agreement pursuant to Section 9(g) hereof and of any amendment or waiver effected pursuant thereto, each of which notices shall contain the text of the amendment or waiver proposed
or effected, as the case may be; 
 (xv) in the event that any broker-dealer registered under the Exchange Act shall
underwrite any Registrable Securities or participate as a member of an underwriting syndicate or selling group or “assist in the distribution” (within the meaning of the Conduct Rules (the “Conduct Rules”) of the Financial
Industry Regulatory Authority (“FINRA”, formerly the National Association of Securities Dealers, Inc.) or any successor thereto, as amended from time to time) thereof, whether as a holder of such Registrable Securities or as an
underwriter, a placement or sales agent or a broker or dealer in respect thereof, or otherwise, assist such broker-dealer in complying with the requirements of such Conduct Rules, including by (A) if such Conduct Rules shall so require,
engaging a “qualified independent underwriter” (as defined in such Conduct Rules) to participate in the preparation of the Shelf Registration Statement relating to such Registrable Securities, to exercise usual standards of due diligence
in respect thereto and, if any portion of the offering contemplated by such Shelf Registration Statement is an underwritten offering or is made through a placement or sales agent, to recommend the yield of such Registrable Securities,
(B) indemnifying any such qualified independent underwriter to the extent of the indemnification of underwriters provided in Section 6 hereof (or to such other customary extent as may be requested by such underwriter), and
(C) providing such information to such broker-dealer as may be required in order for such broker-dealer to comply with the requirements of the Conduct Rules; and 

  
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 (xvi) comply with all applicable rules and regulations of the Commission,
and make generally available to its securityholders as soon as practicable but, in any event, not later than 24 months after the effective date of such Shelf Registration Statement, an earnings statement of the Issuer and its subsidiaries
complying with Section 11(a) of the Securities Act (including, at the option of the Issuer, Rule 158 thereunder) (it being understood that the Issuer may satisfy its obligations under this clause through the filing of its annual report on Form 20-F for the first full fiscal year after such effective date). 
 (e) In the
event that the Issuer would be required, pursuant to Section 3(d)(vi)(F) above, to notify the Electing Holders and the managing underwriters, if any, thereof, the Issuer shall without delay prepare and furnish to each of the Electing Holders
and to each such underwriter, if any, a reasonable number of copies of a prospectus supplemented or amended so that, as thereafter delivered to purchasers of Registrable Securities, such prospectus shall conform in all material respects to the
applicable requirements of the Securities Act and the Trust Indenture Act and the rules and regulations of the Commission thereunder and shall not contain an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein not misleading in light of the circumstances then existing. Each Electing Holder agrees that upon receipt of any notice from the Issuer pursuant to Section 3(d)(vi)(F) above, such Electing
Holder shall forthwith discontinue the disposition of Registrable Securities pursuant to the Shelf Registration Statement applicable to such Registrable Securities until such Electing Holder shall have received copies of such amended or supplemented
prospectus, and if so directed by the Issuer, such Electing Holder shall deliver to the Issuer (at the Issuer’s expense) all copies, other than permanent file copies, then in such Electing Holder’s possession of the prospectus covering
such Registrable Securities at the time of receipt of such notice. 
 (f) In the event of a Shelf Registration, in addition
to the information required to be provided by each Electing Holder in its Notice Questionnaire, the Issuer may require such Electing Holder to furnish to the Issuer such additional information regarding such Electing Holder and such Electing
Holder’s intended method of distribution of Registrable Securities as the Issuer may, after consulting with counsel, determine is required in order to comply with the Securities Act. Each such Electing Holder agrees to notify the Issuer as
promptly as practicable of any inaccuracy or change in information previously furnished by such Electing Holder to the Issuer or of the occurrence of any event in either case as a result of which any prospectus relating to such Shelf Registration
contains or would contain an untrue statement of a material fact regarding such Electing Holder or such Electing Holder’s intended method of disposition of such Registrable Securities or omits to state any material fact regarding such Electing
Holder or such Electing Holder’s intended method of disposition of such Registrable Securities required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, and promptly to
furnish to the Issuer any additional information required to correct and update any previously furnished information or required so that such prospectus shall not contain, with respect to such Electing Holder or the disposition of such Registrable
Securities, an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing. 

  
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 (g) Until the expiration of one year after the Settlement Date, the
Issuer will not, and will not permit any of the Issuer’s direct and indirect subsidiaries or the Guarantors to, resell any of the Securities that have been reacquired by any of them except pursuant to an effective registration statement under
the Securities Act. 
 (h) In the case of a Shelf Registration Statement or the notification of the Issuer by broker-dealers
seeking to sell Exchange Securities and required to deliver prospectuses that will be utilizing the prospectus contained in the Exchange Offer Registration Statement, each holder agrees that, upon receipt of any notice from the Issuer of
(i) the happening of any event of the kind described in any of clauses (B) – (F) of Section 3(d)(vi) or (ii) the exercise of the Issuer’s right, under clause (ii) of the second paragraph of Section 2(d), to
postpone the effectiveness, supplementing or amending of any such Registration Statement, such holder will forthwith discontinue disposition of Securities pursuant to the applicable Registration Statement until such holder receives the copies of the
supplemented or amended prospectus contemplated by Section 3(c)(iv) or Section 3(e) or until such holder is advised in writing (the “Advice”) by the Issuer that the use of the applicable prospectus may be resumed, and, if so
directed by the Issuer, such holder will deliver to the Issuer (at the Issuer’s expense) all copies in such holder’s possession, other than permanent file copies, of the prospectus covering such Securities current at the time of receipt of
such notice. If the Issuer shall give any such notice to suspend the disposition of any Securities pursuant to a Registration Statement, the Issuer shall use its best efforts to file a supplement or an amendment to the Registration Statement and, in
the case of an amendment, have such amendment declared effective as soon as practicable and shall extend the period during which such Registration Statement shall be maintained effective pursuant to this Agreement by the number of days in the period
from and including the date of the giving of such notice to and including the date when the Issuer shall have made available to the holders (i) copies of the supplemented or amended prospectus necessary to resume such dispositions or
(ii) the Advice. 
 4. Registration Expenses. 

The Issuer agrees, unless otherwise agreed in writing among the Issuer and the Supporting Creditors, to bear and to pay or cause to be paid
promptly the following expenses incident to the Issuer’s performance of or compliance with this Agreement: (a) all Commission and any FINRA registration, filing and review fees and other expenses (except as noted herein) in connection with
the registration of the Securities with the Commission in connection with such registration, filing and review; (b) all fees and expenses in connection with the qualification of the Securities for offering and sale under the state securities
and blue sky laws referred to in Section 3(d)(x) hereof and determination of their eligibility for investment under the laws of such jurisdictions as any managing underwriters or the Electing Holders may designate, including any fees and
disbursements of counsel for the Electing Holders or underwriters in connection with such qualification; (c) fees and expenses of the Trustee under the Indenture, any agent of the Trustee and any counsel for the Trustee and of any collateral
agent or custodian; (d) internal expenses (including all salaries and expenses of the Issuer’s officers and employees performing legal or accounting duties); (e) reasonable and duly documented fees, disbursements and expenses of
counsel and independent certified public accountants of the Issuer (including the expenses of any opinions or “cold comfort” letters required by or incident to such performance and compliance); (f) fees, disbursements and expenses of
one counsel for the Electing Holders retained in connection with a Shelf Registration, as selected by the Electing Holders of at least a majority in aggregate principal amount of the Registrable Securities held by Electing Holders (which counsel
shall be reasonably satisfactory to the Issuer); (g) fees, expenses and disbursements of any other persons, including special experts, retained by the Issuer in connection with such registration; (h) all expenses relating to the
preparation, printing, production, distribution and reproduction of each registration statement required to be filed hereunder, each prospectus included therein or prepared for distribution pursuant hereto, each amendment or supplement to the
foregoing (including the cost of preparing such registration statement, prospectus, amendment or supplement for filing with the Commission in electronic format), the expenses of preparing the Securities for delivery and the expenses of printing or
producing any underwriting agreements, agreements among underwriters, selling agreements and blue sky or legal investment memoranda and all other documents in connection with the offering, sale or delivery of Securities to be disposed of (including
certificates representing the Securities); (i) messenger, telephone and delivery expenses relating to the offering, sale or delivery of Securities and the preparation of documents referred in clause (h) above; (j) fees and
disbursements and expenses of any “qualified independent underwriter” engaged pursuant to Section 3(d)(xv) hereof; (k) any fees charged by securities rating services for rating the Securities (limited to the one-time payment of Moody’s quarterly fee for the current quarter, as well as the one-time payment of Moody’s transaction fee, as it relates to the initial sale of
the Securities); and (l) any fees associated with listing the Exchange Securities on the Luxembourg Stock Exchange and the consummation by the transactions contemplated by this Agreement in Luxembourg (collectively, the “Registration
Expenses”). Notwithstanding the foregoing, the holders of the Registrable Securities being registered shall pay all agency fees and commissions and underwriting discounts and commissions attributable to the sale of such Registrable Securities
and the fees and disbursements of any counsel or other advisors or experts retained by such holders (severally or jointly), other than the counsel and experts specifically referred to above. 

  
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 5. Representations and Warranties. 

The Issuer represents and warrants to, and agrees with, the Supporting Creditors and each of the holders from time to time of Registrable
Securities that: 
 (a) The compliance by the Issuer with the provisions of this Agreement, and the consummation of the
transactions herein contemplated will not conflict with or result in a breach of any of the terms or provisions of, or constitute a default under, any material agreement or material instrument to which the Issuer or any of the Guarantors is a party
or by which the Issuer or any of the Guarantors is bound or to which any of the property or assets of the Issuer or any of the Guarantors is subject, nor will such action result in any violation of the provisions of the Ley de Petróleos
Mexicanos (the “Petróleos Mexicanos Law”) and related regulations or any other statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Issuer or any of the Guarantors or
any of its or their respective properties; 
 (b) This Agreement has been duly authorized, executed and delivered by the
Issuer. 

  
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 6. Indemnification. 

(a) Indemnification by the Issuer. The Issuer will indemnify and hold harmless each of the holders of Registrable
Securities included in an Exchange Offer Registration Statement, each of the Electing Holders of Registrable Securities included in a Shelf Registration Statement and each person who participates as an underwriter in any offering or sale of such
Registrable Securities against any losses, claims, damages or liabilities, joint or several, to which such holder or underwriter may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in any Exchange Offer Registration Statement or Shelf Registration Statement, as the case may be (or any
amendment or supplement thereto), under which such Registrable Securities were registered under the Securities Act, including all exhibits therein and documents incorporated by reference thereto, or any preliminary or final prospectus contained
therein or furnished by the Issuer to any such holder, Electing Holder or underwriter, or any amendment or supplement thereto, or any free writing prospectus (as defined in Rule 405) prepared by or on behalf of the Issuer or used or referred to by
the Issuer in connection with the Exchange Offers or the Shelf Registration, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading, and will reimburse such holder, such Electing Holder and such underwriter for any reasonable and duly documented legal or other expenses incurred by them in
connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that the Issuer shall not be liable to any such person in any such case to the extent that any such loss, claim,
damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement, or preliminary, final or summary prospectus, or amendment or supplement thereto,
in reliance upon and in conformity with written information furnished to the Issuer by such person expressly for use therein. 

(b) Indemnification by the Holders and Underwriters. The Issuer may require, as a condition to including any Registrable
Securities in any registration statement filed pursuant to Section 2(b) hereof and to entering into any underwriting agreement with respect thereto, that the Issuer shall have received an undertaking reasonably satisfactory to it from the
Electing Holder of such Registrable Securities and from each underwriter named in any such underwriting agreement, severally and not jointly, to (i) indemnify and hold harmless the Issuer and all other holders of Registrable Securities, against
any losses, claims, damages or liabilities to which the Issuer or such other holders of Registrable Securities may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect
thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in such registration statement, or any preliminary, final or summary prospectus contained therein or furnished by the Issuer to any
such Electing Holder or underwriter, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon
and in conformity with written information furnished to the Issuer by such Electing Holder or underwriter expressly for use therein, and (ii) reimburse the Issuer for any reasonable and duly documented legal or other expenses incurred by the
Issuer in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that no such Electing Holder shall be required to undertake liability to any person under this
Section 6(b) for any amounts in excess of the dollar amount of the proceeds to be received by such Electing Holder from the sale of such Electing Holder’s Registrable Securities pursuant to such registration. 

  
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 (c) Notices of Claims, Etc. Promptly after receipt by an
indemnified party under Section 6(a) or Section 6(b) above of written notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party pursuant to the
indemnification provisions of or contemplated by this Section 6, notify such indemnifying party in writing of the commencement of such action; but the omission so to notify the indemnifying party shall not relieve it from any liability which it
may have to any indemnified party otherwise than under the indemnification provisions of or contemplated by Section 6(a) or Section (b) above. In case any such action shall be brought against any indemnified party and it shall notify an
indemnifying party of the commencement thereof, such indemnifying party shall be entitled to participate therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with
counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying party to such indemnified party of its
election so to assume the defense thereof, such indemnifying party shall not be liable to such indemnified party for any legal expenses of other counsel or any other expenses, in each case subsequently incurred by such indemnified party, in
connection with the defense thereof other than reasonable and duly documented costs in a manner customary for the indemnified party of investigation. The indemnifying party shall not be liable for any settlement of any proceeding effected without
its written consent, which shall not be unreasonably withheld. No indemnifying party shall, without the written consent of the indemnified party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any
pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or
judgment (i) includes an unconditional release of the indemnified party from all liability arising out of such action or claim and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act by or on
behalf of any indemnified party. 
 (d) Contribution. If for any reason the indemnification provisions contemplated by
Section 6(a) or Section 6(b) are unavailable to hold harmless an indemnified party in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein although applicable in accordance with their
terms, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect
the relative fault of the indemnifying party and the indemnified party in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant
equitable considerations. The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission
to state a material fact relates to information supplied by such indemnifying party or by such indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or
omission. The parties hereto agree that it would not be just and equitable if contributions pursuant to this Section 6(d) were determined by pro rata allocation (even if the holders or any underwriters or all of them were treated as one entity
for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to in this Section 6(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages
or liabilities (or actions in respect thereof) referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim.
Notwithstanding the provisions of this Section 6(d), no holder shall be required to contribute any amount in excess of the amount by which the dollar amount of the proceeds received by such holder from the sale of any Registrable Securities
(after deducting any fees, discounts and commissions applicable thereto) exceeds the amount of any damages which such holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission, and
no underwriter shall be required to contribute any amount in excess of the amount by which the total price at which the Registrable Securities underwritten by it and distributed to the public were offered to the public exceeds the amount of any
damages which such underwriter has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. The holders’ and any underwriters’ obligations in this Section 6(d) to contribute shall be several in
proportion to the principal amount of Registrable Securities registered or underwritten, as the case may be, by them and not joint. 

  
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 (e) The obligations of the Issuer under this Section 6 shall be in
addition to any liability which the Issuer may otherwise have and shall extend, upon the same terms and conditions, to each officer, director and partner of each holder and underwriter and each person, if any, who controls any holder, agent or
underwriter within the meaning of the Securities Act, and the obligations of the holders and any agents or underwriters contemplated by this Section 6 shall be in addition to any liability which the respective holder, agent or underwriter may
otherwise have and shall extend, upon the same terms and conditions, to each officer and director of the Issuer (including any person who, with his consent, is named in any registration statement as about to become a director of the Issuer) and to
each person, if any, who controls the Issuer within the meaning of the Securities Act. 
 7. Underwritten Offerings. 

(a) Selection of Underwriters. If any of the Registrable Securities covered by the Shelf Registration are to be sold
pursuant to an underwritten offering, the managing underwriter or underwriters thereof shall be designated by Electing Holders holding at least a majority in aggregate principal amount of the Registrable Securities to be included in such offering,
provided, however, that such designated managing underwriter or underwriters is or are acceptable to the Issuer. 

  
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 (b) Participation by Holders. Each holder of Registrable Securities
hereby agrees with each other such holder that no such holder may participate in any underwritten offering hereunder unless such holder (i) agrees to sell such holder’s Registrable Securities on the basis provided in any underwriting
arrangements approved by the persons entitled hereunder to approve such arrangements and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the
terms of such underwriting arrangements. 
 8. Rule 144. 

The Issuer covenants to the holders of Registrable Securities that to the extent it shall be required to do so under the Exchange Act, the
Issuer shall timely file the reports required to be filed by it under the Exchange Act or the Securities Act (including the reports under Sections 13 and 15(d) of the Exchange Act referred to in subparagraph (c)(1) of Rule 144 adopted
by the Commission under the Securities Act) and the rules and regulations adopted by the Commission thereunder, and shall take such further action as any holder of Registrable Securities may reasonably request, all to the extent required from time
to time to enable such holder to sell Registrable Securities without registration under the Securities Act within the limitations of the exemption provided by Rule 144, as such Rule may be amended from time to time, or any similar or
successor rule or regulation hereafter adopted by the Commission. Upon the request of any holder of Registrable Securities in connection with that holder’s sale pursuant to Rule 144, the Issuer shall deliver to such holder a written
statement as to whether it has complied with such requirements. 
 9. Miscellaneous. 

(a) No Inconsistent Agreements. The Issuer represents, warrants, covenants and agrees that it has not granted, and shall
not grant, registration rights with respect to Registrable Securities or any other securities which would be inconsistent with the rights granted to the holders of the Registrable Securities in this Agreement. 

(b) Notices. All notices, requests, claims, demands, waivers and other communications hereunder shall be in writing and
shall be deemed to have been duly given when delivered by hand, if delivered personally or by courier, as follows: If to the Issuer, to it at Petróleos Mexicanos, Avenida Marina Nacional No. 329, Colonia Verónica Anzures, Ciudad
de México, 11300, México, and if to a holder, to the address of such holder set forth in the security register or other records of the Issuer, or to such other address as the Issuer or any such holder may have furnished to the other in
writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 
 (c)
Parties in Interest. All the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties hereto and the holders from time to time of the Registrable Securities and the
respective successors and assigns of the parties hereto and such holders. In the event that any transferee of any holder of Registrable Securities shall acquire Registrable Securities, in any manner, whether by gift, bequest, purchase, operation of
law or otherwise, such transferee shall, without any further writing or action of any kind, be deemed a beneficiary hereof for all purposes, and such Registrable Securities shall be held subject to all of the terms of this Agreement; and by taking
and holding such Registrable Securities such transferee shall be entitled to receive the benefits of, and be conclusively deemed to have agreed to be bound by, all of the applicable terms and provisions of this Agreement. If the Issuer shall so
request, any such successor, assign or transferee shall agree in writing to acquire and hold the Registrable Securities subject to all of the applicable terms hereof. 

  
 22 

 (d) Survival. The respective indemnities, agreements,
representations, warranties and each other provision set forth in this Agreement or made pursuant hereto shall remain in full force and effect regardless of any investigation (or statement as to the results thereof) made by or on behalf of any
holder of Registrable Securities, the Issuer, any director, officer or partner of such holder or the Issuer, any agent or underwriter or any director, officer or partner thereof, or any controlling person of any of the foregoing, and shall survive
delivery of and payment for the Registrable Securities pursuant to the Terms Agreement and the transfer and registration of Registrable Securities by such holder and the consummation of an Exchange Offer. 

(e) Governing Law. This Agreement, and any claim, controversy or dispute relating to or arising out of this Agreement,
shall be governed by and construed in accordance with the laws of the State of New York except that the authorization and execution of this Agreement by the Issuer shall be governed by the laws of the United Mexican States. 

(f) Headings. The descriptive headings of the several Sections and paragraphs of this Agreement are inserted for
convenience only, do not constitute a part of this Agreement and shall not affect in any way the meaning or interpretation of this Agreement. 

(g) Entire Agreement; Amendments. This Agreement and the other writings referred to herein (including the Indenture and
the form of Securities) or delivered pursuant hereto which form a part hereof contain the entire understanding of the parties with respect to its subject matter. This Agreement supersedes all prior agreements and understandings among any of the
parties with respect to its subject matter. This Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) only by a written
instrument duly executed by the Issuer and the holders of at least a majority in aggregate principal amount of the Registrable Securities at the time outstanding. Each holder of any Registrable Securities at the time or thereafter outstanding shall
be bound by any amendment or waiver effected pursuant to this Section 9(g), whether or not any notice, writing or marking indicating such amendment or waiver appears on such Registrable Securities or is delivered to such holder. 

(h) Counterparts. This Agreement may be executed by the parties in counterparts, each of which shall be deemed to be an
original, but all such respective counterparts shall together constitute one and the same instrument. 
 (i) Commercial
Activity. The Issuer and each of the Guarantors are subject to civil and commercial law with respect to their obligations, as applicable, under the Agreements and the Securities. Neither the Issuer nor any of the Guarantors is entitled to any
immunity, whether on grounds of sovereign immunity or otherwise, from any legal proceedings (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) to enforce or collect upon this
Agreement, the Indenture, the Guaranty Agreement, the Securities, or any other liability or obligation of the Issuer and/or each of the Guarantors related to or arising from the transactions contemplated thereby in respect of itself or its property.

  
 23 

 (j) Agent for Service; Submission to Jurisdiction; Waiver of
Immunities. The Issuer hereby appoints the Consul General of Mexico in New York City, its delegates or its successors as its authorized agent (the “Authorized Agent”) upon which process may be served in any action by any Supporting
Creditor, or by any persons controlling such Supporting Creditor, arising out of or based upon this Agreement which each of the parties hereto hereby agrees that, in respect of any actions brought against it as a defendant may be instituted in the
U.S. District Court for the Southern District of New York and any appellate court or body thereto (collectively, the “Federal Courts”) referred to below. Each of the parties hereto irrevocably submits to the jurisdiction of the Federal
Courts in respect of any action arising out of or based upon this Agreement and irrevocably waives any objection which it may now or hereafter have to the laying of venue of any such action in any such court, and each such party further waives any
right to which it may be entitled on account of present or future residence or domicile. The appointment made by the Issuer shall be irrevocable as long as any of the Securities remain outstanding, unless and until a successor agent shall have been
appointed the Issuer’s Authorized Agent and such successor agent shall have accepted such appointment. The Issuer will take any and all action, including the filing of any and all documents and instruments, that may be necessary to continue
such appointment or appointments in full force and effect as aforesaid. Service of process upon the Authorized Agent at 27 East 39th Street, New York, New York 10016, and written notice of such service mailed or delivered to the Issuer at the
address set forth in Section 9(b) above shall be deemed, in every respect, effective service of process upon the Issuer. The Issuer hereby waives irrevocably any immunity from jurisdiction to which it might otherwise be entitled (including, to
the extent applicable, sovereign immunity, immunity to pre-judgment attachment, post-judgment attachment and execution) in any such action in any federal court in The City of New York, or in any competent
court in Mexico, subject to certain restrictions pursuant to applicable law. 
  

  
 24 

 If the foregoing is in accordance with your understanding, please sign and return to us
counterparts hereof, and upon the acceptance hereof by you, this letter and such acceptance hereof shall constitute a binding agreement among the Supporting Creditors and the Issuer. 

 

			
	Very truly yours,
	
	PETRÓLEOS MEXICANOS
		
	By:	 	 /s/ José Alberto Jiménez Hernández

		 	Name: José Alberto Jiménez Hernández
		 	Title:   Associate Managing Director of Finance

 [Registration Rights Agreement Signature Page] 

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 GASODUCTOS DEL SURESTE S. DE R.L. DE C.V.

  

			
	By:	 	 /s/ Tania Ortiz Mena López Negrete

		 	Name: Tania Ortiz Mena López Negrete
		 	Title:   Attorney in Fact

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 Cameron de Mexico S.A. de C.V. 

 

			
	By:	 	 /s/ Enrique Antonio Cuevas Aguero

		 	Name: Enrique Antonio Cuevas Aguero
		 	Title:   Treasurer

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 OPERADOR CICSA S.A. DE C.V. 

 

			
	By:	 	 /s/ Arturo Spinola Garcia

		 	Name: Arturo Spinola Garcia
		 	Title:   Attorney in fact
		
	By:	 	 /s/ Sergio Mendoza Rodriguez

		 	Name: Sergio Mendoza Rodriguez
		 	Title:   Attorney in fact

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 DOWELL SCHLUMBERGER DE MEXICO S.A. DE C.V.

  

			
	By:	 	 /s/ Enrique Antonio Cuevas Aguero

		 	Name: Enrique Antonio Cuevas Aguero
		 	Title:   Treasurer

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 COFLI TUBE FITTINGS MEXICO S.A. DE C.V.

  

			
	By:	 	 /s/ Edgar Briceño Garcia

		 	Name: Edgar Briceño Garcia
		 	Title:   MR.

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 Baker Hughes de Mexico, S. De R.L. de C.V.

  

			
	By:	 	 /s/ Cesar Miguel Pulido Jimenez

		 	Name: Cesar Miguel Pulido Jimenez
		 	Title:   Legal Representative
		
	By:	 	 /s/ Roberto Carlos Machorro Arenas

		 	Name: Roberto Carlos Machorro Arenas
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 COMPAÑIA MEXICANA DE EXPLORACIONES
S.A. DE C.V. 
  

			
	By:	 	 /s/ Maricela Gonzalez Mendez

		 	Name: Maricela Gonzalez Mendez
		 	Title:   Directora General

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 Geoquest Systems B.V. 

 

			
	By:	 	 /s/ Mohammad Shecawara

		 	Name: Mohammad Shecawara
		 	Title:   Director

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
  

			
	Cotemar, S.A. de C.V.
		
	By:	 	 /s/ Javier Eduardo Bortoni Olivares

		 	Name: Javier Eduardo Bortoni Olivares
		 	Title:   CFO

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 KDM Fire Systems, S.A.P.I. de C.V. 

 

			
	By:	 	 /s/ Miguel Valenzuela Gorozpe

		 	Name: Miguel Valenzuela Gorozpe
		 	Title:   Legal Representative
		
	By:	 	 /s/ Adrián Eugenio Bisiacchi Kauffman

		 	Name: Adrián Eugenio Bisiacchi Kauffman
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 MANTENIMIENTO EXPRESS MARÍTIMO
S.A.P.I. DE C.V. 
  

			
	By:	 	 /s/ Alejandro Romano Baez

		 	Name: Alejandro Romano Baez
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
  

			
	GSM BRONCO S.A. DE C.V.
		
	By:	 	 /s/ Arturo Spinola Garcia

		 	Name: Arturo Spinola Garcia
		 	Title:   Attorney in fact
		
	By:	 	 /s/ Sergio Juventino Mendoza Rodriguez

		 	Name: Sergio Juventino Mendoza Rodriguez
		 	Title:   Attorney in fact

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 IBEROAMERICANA DE HIDOCARBUROS S.A. DE
C.V. 
  

			
	By:	 	 /s/ Miguel Ángel Spínola Robles

		 	Name: Miguel Ángel Spínola Robles
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 NABORS PERFORACIONES DE MEXICO, S DE RL DE
CV 
  

			
	By:	 	 /s/ Diego Suarez Brito

		 	Name: Diego Suarez Brito
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 IBEROAMERICANA DE HIDROCARBUROS CQ,
EXPLORACION & PRODUCCION DE MEXICO SA DE CV 
  

			
	By:	 	 /s/ Miguel Ángel Spínola Robles

		 	Name: Miguel Ángel Spínola Robles
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 OPEX PERFORADORA S.A. DE C.V. 

 

			
	By:	 	 /s/ Gustavo Martín Aguirre Piris

		 	Name: Gustavo Martín Aguirre Piris
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
  

			
	Nuovo Pignone International Srl
		
	By:	 	 /s/ Paolo Ruggeri

		 	Name: Paolo Ruggeri
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 HALLIBURTON DE MEXICO S DE RL DE CV 

 

			
	By:	 	 /s/ Ingrid Maria Montes Melgarejo

		 	Name: Ingrid Maria Montes Melgarejo
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 Operaciones Petroleras Soledad, S. De R.L.
de C.V. 
  

			
	By:	 	 /s/ Cesar Miguel Pulido Jimenez

		 	Name: Cesar Miguel Pulido Jimenez
		 	Title:   Legal Representative
		
	By:	 	 /s/ Roberto Carlos Machorro Arenas

		 	Name: Roberto Carlos Machorro Arenas
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 PETROBAL UPSTREAM DELTA 1, S.A. DE C.V.

  

			
	By:	 	 /s/ Ing. Juan Bordes Aznar

		 	Name: Ing. Juan Bordes Aznar
		 	Title:   Attorney-in-Fact
		
	By:	 	 /s/ Ing. Carlos Arnoldo Morales Gil

		 	Name: Ing. Carlos Arnoldo Morales Gil
		 	Title:   Attorney-in-Fact

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 PANTERA EXPLORACIÓN Y
PRODUCCIÓN 2.2, S.A.P.I. DE C.V. 
  

			
	By:	 	 /s/ Warren Michael Levy

		 	Name: Warren Michael Levy
		 	Title:   Chief Executive Officer

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 SEADRILL TITANIA DE MEXICO S DE RL DE CV

  

			
	By:	 	 /s/ Luis Carlos Hanzelmann Mariano

		 	Name: Luis Carlos Hanzelmann Mariano
		 	Title:   Director of Operations

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 PERFORACIONES ESTRATÉGICAS E
INTEGRALES MEXICANA, S.A. DE C.V. 
  

			
	By:	 	 /s/ Miguel Ángel Sánchez Montalvo

		 	Name: Miguel Ángel Sánchez Montalvo
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 PERFORACIONES PROFESIONAL AKAL 1, S.A. DE
C.V. 
  

			
	By:	 	 /s/ César Augusto Granados Santos

		 	Name: César Augusto Granados Santos
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 SEADRILL COURAGEOUS DE MEXICO S DE RL DE
CV 
  

			
	By:	 	 /s/ Luis Carlos Hanzelmann Mariano

		 	Name: Luis Carlos Hanzelmann Mariano
		 	Title:   Director of Operations

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 SEADRILL OBERON DE MEXICO S DE RL DE CV

  

			
	By:	 	 /s/ Luis Carlos Hanzelmann Mariano

		 	Name: Luis Carlos Hanzelmann Mariano
		 	Title:   Director of Operations

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 SEADRILL INTREPID DE MEXICO S DE RL DE CV

  

			
	By:	 	 /s/ Luis Carlos Hanzelmann Mariano

		 	Name: Luis Carlos Hanzelmann Mariano
		 	Title:   Director of Operations

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 SEADRILL DEFENDER DE MEXICO S DE RL DE CV

  

			
	By:	 	 /s/ Luis Carlos Hanzelmann Mariano

		 	Name: Luis Carlos Hanzelmann Mariano
		 	Title:   Director of Operations

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 PETROSERVICIOS INTEGRALES MEXICO SA DE CV.

  

			
	By:	 	 /s/ Bertino Alejadro Custodio

		 	Name: Bertino Alejadro Custodio
		 	Title:   Apoderado Legal

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 SERVICIOS MULTIPLES DE BURGOS SA DE CV

  

			
	By:	 	 /s/ Gonzalo Alejandro Fernandez Lobbe

		 	Name: Gonzalo Alejandro Fernandez Lobbe
		 	Title:   Legal Representative
		
	By:	 	 /s/ Gerardo Carvajal Udave

		 	Name: Gerardo Carvajal Udave
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 TUBOS DE ACERO DE MÉXICO, S.A. 

 

			
	By:	 	 /s/ Sergio Agustín de la Maza Jiménez

		 	Name: Sergio Agustín de la Maza Jiménez
		 	Title:   Legal Representative
		
	By:	 	 /s/ Mónica Pilar Bulzomi

		 	Name: Mónica Pilar Bulzomi
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 Tidewater de Mexico, S. de R.L. de C.V.

  

			
	By:	 	 /s/ Gonzalo Cervera Ramirez

		 	Name: Gonzalo Cervera Ramirez
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
  

			
	By:	 	 /s/ Carlos Elias Garcia Arelle

		 	Name: Carlos Elias Garcia Arelle
		 	Title:   Director General
		
	By:	 	 /s/ Gerardo Arturo Garcia Lopez

		 	Name: Gerardo Arturo Garcia Lopez
		 	Title:   Legal Representative
		
	By:	 	 /s/ Aurora Garcia Lopez

		 	Name: Aurora Garcia Lopez
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
  

			
	By:	 	 /s/ Armando Delgado Martinez

		 	Name: Armando Delgado Martinez
		 	Title:   Representante Legal

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 TUBACERO, S DE R.L. DE C.V. 

 

			
	By:	 	 /s/ Javier Lopez Salinas

		 	Name: Javier Lopez Salinas
		 	Title:   Tresorero

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 TUBOALEACIONES SA DE CV 

 

			
	By:	 	 /s/ Carlos Elias Garcia Arelle

		 	Name: Carlos Elias Garcia Arelle
		 	Title:   Legal Representatives
		
	By:	 	 /s/ Gustavo Adolfo Lopez Fajardo

		 	Name: Gustavo Adolfo Lopez Fajardo
		 	Title:   Legal Representatives

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 WINTERSHALL DEA MÉXICO S. DE R.L.
DE C.V. 
  

			
	By:	 	 /s/ Martin Jungbluth

		 	Name: Martin Jungbluth
		 	Title:   Legal Representative
		
	By:	 	 /s/ Juan Pablo Gress Díaz

		 	Name: Juan Pablo Gress Díaz
		 	Title:   Legal Representative

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 WEATHERFORD DE MEXICO S DE RL DE CV 

 

			
	By:	 	 /s/ Rafael Jose Angeli Arab

		 	Name: Rafael Jose Angeli Arab
		 	Title:   LAM Geozone Finance Controller

 Accepted as of the date hereof: 

SUPPORTING CREDITOR 
 SERVICIOS COMPRESIÓN DE GAS CA-KU-A1 SAPI DE CV 
  

			
	By:	 	 /s/ Miguel Ángel Spínola Robles

		 	Name: Miguel Ángel Spínola Robles
		 	Title:   Legal Representative

 ANNEX 1 

Supporting Creditors 
  

	 	1.	 BAKER HUGHES DE MEXICO, S. DE R.L. DE C.V. 

	 	2.	 CAMERON DE MEXICO, S.A. DE C.V. 

	 	3.	 COFLI TUBE FITTINGS MEXICO, S.A. DE C.V. 

	 	4.	 COMPANIA MEXICANA DE EXPLORACIONES, S.A. DE C.V. 

	 	5.	 COTEMAR, S.A. DE C.V. 

	 	6.	 DOWELL SCHLUMBERGER DE MEXICO, S.A. DE C.V. 

	 	7.	 GASODUCTOS DEL SURESTE, S. DE R.L. DE C.V. 

	 	8.	 GEOQUEST SYSTEMS B.V. 

	 	9.	 GSM-BRONCO, S.A DE C.V. 

	 	10.	 HALLIBURTON DE MEXICO, S. DE R.L. DE C.V. 

	 	11.	 IBEROAMERICANA DE HIDROCARBUROS CQ. EXPLORACION & PRODUCCION DE MEXICO, S.A. DE C.V.

	 	12.	 IBEROAMERICANA DE HIDROCARBUROS, S.A. DE C.V. 

	 	13.	 KDM FIRE SYSTEMS, S.A.P.I. DE C.V. 

	 	14.	 MANTENIMIENTO EXPRESS MARITIMO, S.A.P.I. DE C. V. 

	 	15.	 NABORS PERFORACIONES DE MEXICO, S. DE R.L. DE C.V. 

	 	16.	 NUOVO PIGNONE INTERNATIONAL S.R.L. 

	 	17.	 OPERACIONES PETROLERAS SOLEDAD, S. DE R.L. DE C.V. 

	 	18.	 OPERADORA CICSA, S.A. DE C.V. 

	 	19.	 OPEX PERFORADORA, S.A. DE C.V. 

	 	20.	 PANTERA EXPLORACION Y PRODUCCION 2.2, S.A.P.I. DE C.V. 

	 	21.	 PERFORACIONES ESTRATEGICAS E INTEGRALES MEXICANA, S.A. DE C.V. 

	 	22.	 PERFORADORA PROFESIONAL AKAL I, S.A. DE C.V. 

	 	23.	 PETROBAL UPSTREAM DELTA 1, S.A. DE C.V. 

	 	24.	 PETROSERVICIOS INTEGRALES MEXICO, S.A. DE C.V. 

	 	25.	 SEADRILL COURAGEOUS DE MEXICO, S.DE R.L. DE C.V. 

	 	26.	 SEADRILL DEFENDER DE MEXICO, S. DE R.L. DE C.V. 

	 	27.	 SEADRILL INTREPID DE MEXICO, S. DE R.L. DE C.V. 

	 	28.	 SEADRILL OBERON DE MEXICO, S. DE R. L. DE C.V. 

	 	29.	 SEADRILL TITANIA DE MEXICO, S. DE R.L. DE C.V. 

	 	30.	 SERVICIO COMPRESION DE GAS
CA-KU-A1, S.A.P.I. DE C.V. 

	 	31.	 SERVICIOS MULTIPLES DE BURGOS, S.A. DE C.V. 

	 	32.	 TIDEWATER DE MEXICO, S. DE R.L. DE C.V. 

	 	33.	 TUBACERO, S. DE R.L. DE C.V. 

	 	34.	 TUBOS DE ACERO DE MEXICO, S.A. 

	 	35.	 TURBOALEACIONES S.A. DE C.V. 

	 	36.	 TURBOMAQUINAS, S.A. DE C.V. 

	 	37.	 VALVULAS DE SEGURIDAD, S.A DE C.V. 

	 	38.	 WEATHERFORD DE MEXICO, S. DE R.L. DE C.V. 

	 	39.	 WINTERSHALL DEA MEXICO, S. DE R.L. DE C.V. 

 Exhibit A 

Petróleos Mexicanos 

INSTRUCTION TO DTC PARTICIPANTS 

(Date of Mailing) 

URGENT - IMMEDIATE ATTENTION REQUESTED 

DEADLINE FOR RESPONSE: [DATE] * 

The Depository Trust Company (“DTC”) has identified you as a DTC Participant through which beneficial interests in the 8.750% Notes due 2029 (CUSIP
Nos.: 71654QDJ8 (144A), P7S08VCA7 (Regulation S), and 71654QDK5 (Accredited Investors)) (the “Securities”) of Petróleos Mexicanos (the “Issuer”) are held. 

The Issuer is in the process of registering the Securities under the Securities Act of 1933 for resale by the beneficial owners thereof. In order to have
their Securities included in the registration statement, beneficial owners must complete and return the enclosed Notice of Registration Statement and Selling Securityholder Questionnaire. 

It is important that beneficial owners of the Securities receive a copy of the enclosed materials as soon as possible as their rights to have the
Securities included in the registration statement depend upon their returning the Notice and Questionnaire by [Deadline For Response]. Please forward a copy of the enclosed documents to each beneficial owner that holds interests in the
Securities through you. If you require more copies of the enclosed materials or have any questions pertaining to this matter, please contact Petróleos Mexicanos, Avenida Marina Nacional No. 329, Colonia Verónica Anzures, Ciudad de
México, 11300, México; E-mail: ri@pemex.com, Attention: Relación con Inversionistas. 

 

	*	 Not less than 28 calendar days from date of mailing. 

 Petróleos Mexicanos 

Notice of Registration Statement 

and 
 Selling Securityholder
Questionnaire 
 (Date) 
 Reference is
hereby made to the Exchange and Registration Rights Agreement dated June 2, 2022 (the “Exchange and Registration Rights Agreement”) among Petróleos Mexicanos (the “Issuer”) and the Supporting Creditors named therein.
Pursuant to the Exchange and Registration Rights Agreement, the Issuer intends to file with the United States Securities and Exchange Commission (the “Commission”) a registration statement on Form [__] (the “Shelf Registration
Statement”) for the registration and resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), of the Issuer’s 8.750% Notes due 2029 (CUSIP Nos.: 71654QDJ8 (144A), P7S08VCA7 (Regulation S) and
71654QDK5 (Accredited Investors)) (the “Securities”). A copy of the Registration Rights Agreement is attached hereto. All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Exchange and
Registration Rights Agreement. 
 Each beneficial owner of Registrable Securities is entitled to have the Registrable Securities beneficially owned by it
included in the Shelf Registration Statement. In order to have Registrable Securities included in the Shelf Registration Statement, this Notice of Registration Statement and Selling Securityholder Questionnaire (“Notice and Questionnaire”)
must be completed, executed and delivered to the Issuer’s counsel at the address set forth herein for receipt ON OR BEFORE [Deadline for Response]. Beneficial owners of Registrable Securities who do not complete, execute and return this
Notice and Questionnaire by such date (i) will not be named as selling securityholders in the Shelf Registration Statement and (ii) may not use the prospectus forming a part thereof for resales of Registrable Securities. 

Certain legal consequences arise from being named as a selling securityholder in the Shelf Registration Statement and related prospectus. Accordingly, holders
and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or not being named as a selling securityholder in the Shelf Registration Statement and related
prospectus. 

 ELECTION 

The undersigned holder (the “Selling Securityholder”) of Registrable Securities hereby elects to include in the Shelf Registration Statement the
Registrable Securities beneficially owned by it and listed below in Item (3). The undersigned, by signing and returning this Notice and Questionnaire, agrees to be bound with respect to such Registrable Securities by the terms and conditions of
this Notice and Questionnaire and the Exchange and Registration Rights Agreement. Such holder agrees severally and not jointly, to (i) indemnify and hold harmless the Issuer and all other holders of Registrable Securities, against any losses,
claims, damages or liabilities to which the Issuer or such other holders of Registrable Securities may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof)
arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in such registration statement, or any preliminary, final or summary prospectus contained therein or furnished by the Issuer to any such
holder or underwriter, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of
the circumstances under which they were made, not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with
written information furnished to the Issuer by such holder expressly for use therein, and (ii) reimburse the Issuer for any reasonable and duly documented legal or other expenses incurred by the Issuer in connection with investigating or
defending any such action or claim as such expenses are incurred; provided, however, that no such holder shall be required to undertake liability to any person hereunder for any amounts in excess of the dollar amount of the
proceeds to be received by such holder from the sale of such holder’s Registrable Securities pursuant to such registration. 
 Upon any sale of
Registrable Securities pursuant to the Shelf Registration Statement, the Selling Securityholder will be required to deliver to the Issuer and the Trustee the Notice of Transfer set forth in Appendix A to the Prospectus and as Exhibit B to
the Exchange and Registration Rights Agreement. 
 The Selling Securityholder hereby provides the following information to the Issuer and represents and
warrants that such information is accurate and complete: 

 QUESTIONNAIRE 

(1)                  (a)   Full Legal Name of Selling
Securityholder: 
 __ 
  

	 	(b)	 Full Legal Name of Registered Holder (if not the same as in (a) above) of Registrable Securities Listed in
Item (3) below: 

 __ 
  

	 	(c)	 Full Legal Name of DTC Participant (if applicable and if not the same as (b) above) Through Which
Registrable Securities Listed in Item (3) below are Held: 

 __ 

 

	(2)	 Address for Notices to Selling Securityholder: 

 

	 	    	 ___________________________ 

	 	    	 ___________________________ 

	 	    	 ___________________________ 

	 	Telephone:	 ___________________________ 

	 	Fax:	 ___________________________ 

	 	Contact Person:	 ___________________________ 

 

	(3)	 Beneficial Ownership of Securities: 

Except as set forth below in this Item (3), the undersigned does not beneficially own any Securities. 

 

	 	(a)	 Principal amount of Registrable Securities beneficially owned: ____________ 

	 	CUSIP	 No(s). of such Registrable Securities: ____________________________ 

 

	 	(b)	 Principal amount of Securities other than Registrable Securities beneficially owned:
_______________________________________________________ 

	 	CUSIP	 No(s). of such other Securities: _________________________________ 

 

	 	(c)	 Principal amount of Registrable Securities that the undersigned wishes to be included in
the             Shelf             Registration            
Statement:_________________________ 

	 	CUSIP	 No(s). of such Registrable Securities to be included in the Shelf Registration Statement:
_____________________________ 

  

	(4)	 Beneficial Ownership of Other Securities of the Issuer and Guarantors: 

Except as set forth below in this Item (4), the undersigned Selling Securityholder is not the beneficial or
registered owner of any other securities of the Issuer or any Guarantor other than the Securities listed above in Item (3).  

State any exceptions here:_______________________________________________________ 

	(5)	 Relationships with the Issuer and Guarantors: 

Except as set forth below, neither the Selling Securityholder nor any of its affiliates, officers, directors or
principal equity holders (5% or more) has held any position or office or has had any other material relationship with the Issuer or any of the Guarantors (or their respective predecessors or affiliates) during the past
three years. 
 State any exceptions here:_______________________________________________________ 

 

	(6)	 Plan of Distribution: 

Except as set forth below, the undersigned Selling Securityholder intends to distribute the Registrable Securities listed above in
Item (3) only as follows (if at all): Such Registrable Securities may be sold from time to time directly by the undersigned Selling Securityholder or, alternatively, through underwriters, broker-dealers or
agents. Such Registrable Securities may be sold in one or more transactions at fixed prices, at prevailing market prices at the time of sale, at varying prices determined at the time of sale, or at negotiated prices. Such sales
may be effected in transactions (which may involve crosses or block transactions) (i) on any national securities exchange or quotation service on which the Registered Securities may be listed or quoted at the time of sale,
(ii) in the over-the-counter market, (iii) in transactions otherwise than on such exchanges or services or in the over-the-counter market or (iv) through the writing of options. In connection with sales of the Registrable Securities or otherwise, the Selling
Securityholder may enter into hedging transactions with broker-dealers, which may in turn engage in short sales of the Registrable Securities in the course of hedging the positions they assume. The Selling Securityholder may also sell
Registrable Securities short and deliver Registrable Securities to close out such short positions, or loan or pledge Registrable Securities to broker-dealers that in turn may sell such securities. 

State any exceptions here:_______________________________________________________ 

By signing below, the Selling Securityholder acknowledges that it understands its obligation to comply, and agrees that it will comply, with the provisions of
the Exchange Act and the rules and regulations thereunder, particularly Regulation M. 
 In the event that the Selling Securityholder transfers all or
any portion of the Registrable Securities listed in Item (3) above after the date on which such information is provided to the Issuer, the Selling Securityholder agrees to notify the transferee(s) at the time of the transfer of its rights and
obligations under this Notice and Questionnaire and the Exchange and Registration Rights Agreement. 
 By signing below, the Selling Securityholder consents
to the disclosure of the information contained herein in its answers to Items (1) through (6) above and the inclusion of such information in the Shelf Registration Statement and related prospectus. The Selling Securityholder understands
that such information will be relied upon by the Issuer in connection with the preparation of the Shelf Registration Statement and related prospectus. 
 In
accordance with the Selling Securityholder’s obligation under Section 3(e) of the Exchange and Registration Rights Agreement to provide such information as may be required by law for inclusion in the Shelf Registration Statement, the
Selling Securityholder agrees to promptly notify the Issuer of any inaccuracies or changes in the information provided herein which may occur subsequent to the date hereof at any time while the Shelf Registration Statement remains in effect. All
notices hereunder and pursuant to the Exchange and Registration Rights Agreement shall be made in writing, by hand-delivery or air courier guarantying overnight delivery as follows: 

 To the Issuer: 

 

	
	 Petróleos Mexicanos

	 Avenida Marina Nacional No. 329

	 Ciudad de México, 11300

	 México

	 Attention: Associate Managing Director

	                  of Finance

 Once this Notice and Questionnaire is executed by the Selling Securityholder and received by the Issuer’s counsel,
the terms of this Notice and Questionnaire, and the representations and warranties contained herein, shall be binding on, shall inure to the benefit of and shall be enforceable by the respective successors, heirs, personal representatives, and
assigns of the Issuer and the Selling Securityholder (with respect to the Registrable Securities beneficially owned by such Selling Securityholder and listed in Item (3) above). This Agreement shall be governed in all respects by the laws of
the State of New York. 

 IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this Notice and Questionnaire to be
executed and delivered either in person or by its duly authorized agent. 
 Dated: ______________ 

______________________________________________________________ 

Selling Securityholder 

(Print/type full legal name of beneficial owner of Registrable Securities) 

By: __________________________________________________________ 

Name: 
 Title: 

PLEASE RETURN THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE FOR RECEIPT ON OR BEFORE [DEADLINE FOR RESPONSE] TO THE ISSUER’S COUNSEL AT:

  

	 	    	 ___________________________ 

	 	    	 ___________________________ 

	 	    	 ___________________________ 

	 	    	 ___________________________ 

	 	    	 ___________________________ 

 Exhibit B 

NOTICE OF TRANSFER PURSUANT TO REGISTRATION STATEMENT 

Deutsche Bank Trust Company Americas 
 Petróleos Mexicanos

 1 Columbus Circle, 17th Floor 
 New York, New York 10019 

Attention: Trust Officer 
  

	 	Re:	 Petróleos Mexicanos (the “Issuer”) 

	 	    	 8.750% Notes due 2029 (CUSIP Nos.: 71654QDJ8 (144A), P7S08VCA7 

	 	    	 (Regulation S) and 71654QDK5 (Accredited Investors)) 

	 	    	 (the “Securities”) 

Dear Sirs: 
 Please be advised that _________________ has
transferred U.S.$_________________ aggregate principal amount of the above referenced Securities pursuant to an effective Registration Statement on Form [_____] (File No. 333- ______) filed by the
Issuer and each of the guarantors named therein. 
 We hereby certify that the prospectus delivery requirements, if any, of the U.S. Securities Act of 1933,
as amended, have been satisfied and that the above-named beneficial owner of the Securities is named as a “Selling Holder” in the Prospectus dated [date] or in supplements thereto, and that the aggregate principal amount of the
Securities transferred are the Securities listed in such prospectus opposite such owner’s name. 
 Dated: 

 

			
		 	Very truly yours,
		
		 	  

		 	(Name)
		
	By:	 	  

		 	(Authorized Signature)Document

        Exhibit 10.1

September 6, 2022

Via Email

Joshua Bixby

Re:    Transition and Separation Agreement
Dear Joshua:
This letter sets forth the terms of the transition and separation agreement (the “Agreement”) that Fastly, Inc. and Fastly International (Holdings) Ltd. (collectively, the “Company”) is offering to you to aid in your employment transition in connection with the termination of your services to the Company as its President and Chief Executive Officer (“CEO”).
1.Separation Date.  You and the Company agree that the termination of your service as CEO will be effective as of September 1, 2022 (the “CEO Termination Date”).  Effective as of the CEO Termination Date (i) you will no longer provide services to the Company as the Company’s CEO and (ii) you hereby resign as a member of the Company’s Board of Directors and from all committees thereof and the board of directors (or similar governing body) of any and all subsidiaries of the Company of which you are a member.  If you timely sign and return this Agreement to the Company, your employment with the Company as an advisor to the Company’s CEO will continue through June 1, 2023 (which may be extended by the Company until September 1, 2023), which will become your employment termination date (the “Separation Date”), unless your employment terminates sooner pursuant to Paragraph 2(c) below.  If termination occurs earlier or later than June 1, 2023, or such later extended date, the actual date of termination shall become the “Separation Date” for purposes of this Agreement. 
2.Transition Period.  
    (a)    Role.  Between now and the Separation Date, you will: (i) assist with the transition of your duties and responsibilities to other employees, including to the newly hired CEO of the Company; and (ii) perform any other duties and responsibilities within your past experience at the Company and as requested by the Company (the “Transition Services”). The period between now and the Separation Date will be referred to as the “Transition Period.”  You agree to exercise the highest degree of professionalism and utilize your expertise and creative talents in performing your Transition Services job duties.  You also must continue to comply with all of the Company’s policies and procedures and with all of your statutory and contractual obligations to the Company, including, without limitation, your obligations under your Employee IP Assignment Agreement (a copy of which is attached hereto as Exhibit A) and your Employment Agreement dated February 19, 2020 (the “Employment Agreement”), which you 
			
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acknowledge and agree are contractual commitments that remain binding upon you, both during and after the Transition Period.
        (b)    Compensation/Benefits.  During the Transition Period, your base salary will remain the same, and you will continue to be eligible for the Company’s standard benefits, subject to the terms and conditions applicable to such plans and programs.  Except as provided herein, your Company stock options and restricted stock unit awards will continue to vest under the existing terms and conditions set forth in the governing plan documents and option or restricted stock unit award agreements and the post-termination exercise period for your vested stock options will begin on the Separation Date.
    (c)    Termination. During the Transition Period, you are entitled to resign your employment and the Company may terminate your employment with or without Cause (as defined in the Executive Change in Control and Severance Benefit Plan approved on May 3, 2019 (the “Severance Benefit Plan”) in accordance with the provisions of this Agreement.  If prior to June 1, 2023, or such later extended date, the Company terminates your employment without Cause (as defined in the Severance Benefit Plan) or you resign for Good Reason (as defined in the Severance Benefit Plan), then you will remain eligible for the Severance Benefits (as defined and described below), provided that you have satisfied the conditions for receipt of the Severance Benefits (as set forth below). If prior to June 1, 2023, or such later extended date, the Company terminates your employment with Cause or you resign without Good Reason, then you will no longer be eligible for participation in any Company benefit plans, your Equity Awards (as defined in the Severance Benefit Plan) will immediately cease vesting, and you will not be entitled to the Severance Benefits and will only be provided with the minimum entitlements to which you are entitled pursuant to the British Columbia Employment Standards Act, if any.
3.Accrued Salary and Vacation.  On or shortly after the Separation Date, the Company will pay you all accrued salary, and all accrued but unused vacation, earned through the last day of your employment, subject to standard payroll deductions and withholdings.  You are entitled to this payment regardless of whether or not you sign this Agreement. 
4.Severance Benefits.  Pursuant to the Severance Benefit Plan and your Employment Agreement, if you: (i) timely sign and return this Agreement to the Company; (ii) comply fully with your obligations hereunder (including without limitation satisfactorily transitioning your duties during the Transition Period); and (iii) within twenty-one (21) days after the Separation Date, execute and return to the Company the release of claims in the form attached hereto as Exhibit B (the “Separation Date Release”) and allow the Separation Date Release to become effective, then, in full satisfaction of any obligations for the Company to provide you with notice of termination or pay in lieu thereof or severance benefits as stated in the Severance Benefit Plan and Employment Agreement and the British Columbia Employment Standards Act, the Company will provide you with the following severance benefits (the “Severance Benefits”):
(a)Severance Pay.  The Company will pay you a lump sum severance amount equal to eighteen (18) months (totaling $756,000) of your base salary in effect as of the Separation Date, subject to standard payroll deductions and withholdings (“Severance Pay”).  Your Severance Pay will be paid in a lump sum on the first regular payday no earlier than one week after the Release Effective Date, as defined in the Separation Date Release.
			
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(b)Target Bonus Severance.  The Company will pay you an amount equal to 0.75 times your target annual bonus for fiscal year 2022 (such amount, the “Target Bonus Severance”), subject to standard payroll deductions and withholdings, which will be paid in the form of either cash or fully vested restricted stock units on the first regular payday no earlier than one week after the Release Effective Date, provided that the Target Bonus Severance will be reduced (but not below zero) by the amount of any annual bonus for fiscal year 2022 that you have been paid prior to the Release Effective Date in accordance with the Company’s 2022 Bonus Plan.  
(c)Health Care Continuation Coverage.  The Company will pay you a lump sum payment equal to $40,000, subject to standard payroll deductions and withholdings, on the thirtieth (30th) day following the Separation Date, to cover your health insurance expenses and other health-related costs.  You may, but are not obligated to, use such payment toward the cost of health insurance premiums or costs. Except as provided herein, the Company will have no additional obligations to you related to health care coverage, including but not limited to any obligation to pay any premiums for your coverage under the federal COBRA law or similar laws.
(d)Equity Acceleration.  During your employment with the Company, you were granted certain Equity Awards and Performance Awards (each, as defined in the Severance Benefit Plan).  Notwithstanding any language in the applicable plan(s) to the contrary, the Company will accelerate the vesting of your outstanding (i) Equity Awards as of the Separation Date in an amount that would have vested if you had remained an employee for an additional twelve (12) months after the Separation Date and (ii) Performance Awards as of the Separation Date in an amount that would have vested if you had remained an employee for an additional 12 months after the Separation Date, on a pro-rated basis and based on actual level of achievement of the applicable Performance Award as of the Separation Date.  Such acceleration will be effective as of the Separation Date.  
(e)Post-Termination Exercise Period Extension.  During your employment with the Company, you were granted certain Equity Awards in the form of stock options (“Options”).  Notwithstanding any language in the applicable plan(s) to the contrary, the Company will amend any Options that are vested and outstanding as of the Separation Date (including those subject to accelerated vesting in accordance with the terms of this Agreement), such that you will be permitted to exercise such Options until the earliest to occur of (i) the expiration date indicated in the applicable Option’s grant notice, (ii) the day before the tenth (10th) anniversary of the Option’s date of grant, and (iii) in certain circumstances, upon the effective date of a corporate transaction, as set forth in the applicable equity incentive plan pursuant to which the Option was granted.
5.No Other Compensation or Benefits.  By executing this Agreement, you acknowledge and agree that the Company’s obligations to provide you with any notice of termination, severance benefits or any other payments are hereby extinguished (except for the benefits described in this Agreement).  You further expressly acknowledge and agree that the Severance Benefits, and other benefits provided herein, are in full and complete satisfaction of the Company’s obligations, if any, to pay you pay in lieu of notice of termination, severance benefits or any other payments pursuant the Severance Benefit Plan, the Employment Agreement, the British Columbia Employment Standards Act, or any other agreements, plans or policies, and that this Agreement hereby supersedes and extinguishes any pay in lieu of notice of termination or severance benefits you are or could be eligible to receive under the Severance Benefit Plan, the Employment Agreement, the British Columbia Employment Standards Act or any other employment agreement, plan, policy or other agreement applicable to you.  You also acknowledge that, except as expressly provided in this Agreement, you have not earned and will 
			
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not receive from the Company any additional compensation, severance, or benefits on or after the Separation Date, with the exception of any vested right you may have under the express terms of a written ERISA-qualified benefit plan (e.g., 401(k) account or RRSP account).  By way of example, you acknowledge that you have not earned and are not owed any bonus, vacation, incentive compensation, commissions, or equity.
6.Expense Reimbursements.  You agree that, within ten (10) days after the Separation Date, you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Separation Date, if any, for which you seek reimbursement.  The Company will reimburse you for these expenses pursuant to its regular business practice.
7.Return of Company Property.  Within five (5) business days after the Separation Date, you shall return to the Company all Company documents (and all copies thereof) and other Company property in your possession or control.  Notwithstanding the foregoing, as an additional Severance Benefit (subject to the same conditions as the Severance Benefits set forth above), the Company hereby agrees to transfer ownership to you of the computer and monitor provided to you by the Company for your use during your employment (the “Company Equipment”).  The Company Equipment will be provided to you “as is” and without warranty or guarantee of any kind, effective as of the Separation Date.  On or before the Separation Date, and consistent with this section, you agree to provide the Company Equipment to the Company so that all confidential or proprietary data, materials or information of the Company and nontransferable third-party software can be deleted from it. You agree that you will make a diligent search to locate any such documents, property and information within the timeframe referenced above.  In addition, if you have used any personally owned computer, server, or e-mail system to receive, store, review, prepare or transmit any confidential or proprietary data, materials or information of the Company, then within five (5) business days after the Separation Date, you must provide the Company with a computer-useable copy of such information and then permanently delete and expunge such confidential or proprietary information from those systems without retaining any reproductions (in whole or in part); and you agree to provide the Company access to your system, as requested, to verify that the necessary copying and deletion is done.  Your timely compliance with the provisions of this paragraph is a precondition to your receipt of the Severance Benefits and other benefits provided hereunder.  
8.Nondisparagement.  You agree not to disparage the Company, its officers, directors, employees, shareholders, parents, subsidiaries, affiliates, and agents, in any manner likely to be harmful to its or their business, business reputation, or personal reputation; provided that you may respond accurately and fully to any request for information if required by legal process or in connection with a government investigation.  In addition, nothing in this provision or this Agreement is intended to prohibit or restrain you in any manner from making disclosures protected under the whistleblower provisions of federal, provincial or state law or regulation or other applicable law or regulation or as set forth in the section of this Agreement entitled “Excluded Claims.”
9.No Voluntary Adverse Action.  You agree that you will not voluntarily provide assistance, information or advice, directly or indirectly (including through agents or attorneys), to any person or entity in connection with any proposed or pending litigation, arbitration, administrative claim, cause of action, or other formal proceeding of any kind brought against the Company, its parent or subsidiary entities, affiliates, officers, directors, employees or agents, nor shall you induce or encourage any person or entity to bring any such claims; provided, however, that you must respond accurately and truthfully to any question, inquiry or request for 
			
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information to the extent required by legal process (e.g., a valid subpoena or other similar compulsion of law) or as part of a government investigation.
10.Cooperation.  You agree to cooperate fully with the Company in connection with its actual or contemplated defense, prosecution, or investigation of any claims or demands by or against third parties, or other matters arising from events, acts, or failures to act that occurred during the period of your employment by the Company.  Such cooperation includes, without limitation, making yourself available to the Company upon reasonable notice, without subpoena, to provide complete, truthful and accurate information in witness interviews, depositions, and trial testimony.  The Company will reimburse you for reasonable out-of-pocket expenses you incur in connection with any such cooperation (excluding foregone wages, salary, or other compensation) and will make reasonable efforts to accommodate your scheduling needs.
11.No Admissions.  You understand and agree that the promises and payments in consideration of this Agreement shall not be construed to be an admission of any liability or obligation by the Company to you or to any other person, and that the Company makes no such admission.
12.Release of Claims.
(a)    General Release.  In exchange for the Transition Period and other consideration provided to you under this Agreement to which you would not otherwise be entitled, you hereby generally and completely release the Company, its affiliated, related, parent and subsidiary entities, and its and their current and former directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, insurers, affiliates, and assigns (collectively, the “Released Parties”) from any and all claims, liabilities and obligations, whether in common law, in equity, in contract, in tort, in statute or otherwise however arising,  both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to or on the date you sign this Agreement (collectively, the “Released Claims”).  
        (b)    Scope of Release.  The Released Claims include, but are not limited to:  (i) all claims arising out of or in any way related to your employment with the Company, or the termination of that employment; (ii) all claims related to your compensation or benefits from the Company, including salary, bonuses, commissions, vacation, expense reimbursements, payment in lieu of notice of termination, severance pay, fringe benefits, stock, stock options, or any other ownership, equity, or profits interests in the Company; (iii) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (iv) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (v) all federal, provincial, state, and local statutory claims, including claims for notice of termination, severance pay, unpaid wages, vacation pay, holiday pay, discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the British Columbia Employment Standards Act, the British Columbia Human Rights Code, the federal Civil Rights Act of 1964 (as amended), the federal Age Discrimination in Employment Act of 1967 (as amended) (the “ADEA”), the federal Americans with Disabilities Act of 1990, and the California Labor Code (as amended).   You acknowledge that you have been advised, as required by California Government Code Section 12964.5(b)(4), that you have the right to consult an attorney regarding this Agreement and that you were given a reasonable time period of not less than five business days in which to do so.  You further acknowledge and agree that, in the event you sign this Agreement prior to the end of the reasonable time period provided by the Company, your decision to accept such shortening of time is knowing and voluntary and is not induced by the Company through fraud, misrepresentation, or a threat to 
			
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withdraw or alter the offer prior to the expiration of the reasonable time period, or by providing different terms to employees who sign such an agreement prior to the expiration of the time period.  You further acknowledge and agree that that the terms set out in the Agreement and this release constitute a full and final settlement of any existing, planned or possible complaint or complaints against the Company under any statute or regulation of Canada or of any province including the British Columbia Employment Standards Act, the British Columbia Human Rights Code, or any other applicable law which creates obligations as between an employer and employee relating to the hiring of, the employment or the cessation of your employment with the Company.
(c)    Section 1542 Waiver.  YOU UNDERSTAND THAT THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.  In giving the release herein, which includes claims which may be unknown to you at present, you acknowledge that you have read and understand Section 1542 of the California Civil Code, which reads as follows:
“A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.”
You hereby expressly waive and relinquish all rights and benefits under that section and any law of any other jurisdiction of similar effect with respect to your release of any unknown or unsuspected claims herein.
(d)    ADEA Waiver. You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you may have under the ADEA, and that the consideration given for the waiver and release in this Section is in addition to anything of value to which you are already entitled. You further acknowledge that you have been advised, as required by the ADEA, that: (i) your waiver and release do not apply to any rights or claims that may arise after the date that you sign this Agreement; (ii) you should consult with an attorney prior to signing this Agreement (although you may choose voluntarily not to do so); (iii) you have twenty-one (21) days to consider this Agreement (although you may choose voluntarily to sign it earlier); (iv) you have seven (7) days following the date you sign this Agreement to revoke it (by providing written notice of your revocation to me); and (v) this Agreement will not be effective until the date upon which the revocation period has expired, which will be the eighth day after the date that this Agreement is signed by you provided that you do not revoke it (the “Effective Date”).
(e)    Excluded Claims.  Notwithstanding the foregoing, the following are not included in the Released Claims (the “Excluded Claims”): (i) any rights or claims for indemnification you may have pursuant to any written indemnification agreement with the Company to which you are a party or under applicable law; (ii) any rights which are not waivable as a matter of law, including without limitation, claims under the California Fair Employment and Housing Act, to the extent such claims cannot be waived as a matter of law with this release of claims; (iii) any rights you have to file or pursue a claim for workers’ compensation or unemployment insurance; and (iv) any claims for breach of this Agreement.  You hereby represent and warrant that, other than the Excluded Claims, you are not aware of any claims you have or might have against any of the Released Parties that are not included in the Released Claims.  You understand that nothing in this Agreement limits your ability to file a charge or complaint with any Governmental Agency.  While this Agreement does not limit your right to receive an award for information provided to the Securities and Exchange Commission, you 
			
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understand and agree that, to maximum extent permitted by law, you are otherwise waiving any and all rights you may have to individual relief based on any claims that you have released and any rights you have waived by signing this Agreement.  Nothing in this Agreement prevents you from discussing or disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that you have reason to believe is unlawful.  
(f)    Tax Indemnity.  You covenant and agree to save harmless and indemnify the Company from any and against all claims, taxes, charges, penalties, or demands properly exigible which might be made upon the Company in connection with this Agreement pursuant to the Income Tax Act, the Employment Insurance Act, the Canada Pension Plan, or any other duly recognized federal and provincial taxing authorities or statutes.
13.Confidentiality.  You understand and agree that the terms or nature of this Agreement are confidential and cannot be disclosed in whole or in part to any third parties other than your immediate family, legal or financial providers, provided that they first agree not to discuss with or disclose to anyone the terms of this Agreement and such other disclosure as is required by law.  You acknowledge that this confidentiality obligation constitutes a fundamental part of this Agreement and the foregoing release.
14.Section 409A.  
(a)Notwithstanding anything to the contrary herein, to the extent (i) any payments to which you are entitled under this Agreement in connection with your separation from service with the Company constitute deferred compensation subject to Section 409A and (ii) you are deemed at the time of such termination of employment to be a “specified” employee under Section 409A, then such payment or payments shall not be made or commence until the earlier of (i) the expiration of the six (6)-month period measured from your Separation Date; or (ii) as soon as administratively practicable after the date of your death following the Separation Date; provided, however, that such deferral shall only be effected to the extent required to avoid adverse tax treatment to you, including (without limitation) the additional twenty percent (20%) tax for which you would otherwise be liable under Section 409A(a)(1)(B) in the absence of such deferral.  Upon the expiration of the applicable deferral period, any payments which would have otherwise been made during that period (whether in a single sum or in installments) in the absence of this paragraph shall be paid to you or your beneficiary in one lump sum (without interest).
(b)Except as otherwise expressly provided herein, to the extent any expense reimbursement or the provision of any in-kind benefit under this Agreement is determined to be subject to (and not exempt from) Section 409A of the Code, the amount of any such expenses eligible for reimbursement, or the provision of any in-kind benefit, in one calendar year shall not affect the expenses eligible for reimbursement or in kind benefits to be provided in any other calendar year, in no event shall any expenses be reimbursed after the last day of the calendar year following the calendar year in which you incurred such expenses, and in no event shall any right to reimbursement or the provision of any in-kind benefit be subject to liquidation or exchange for another benefit.
(c)All severance benefits provided under this Agreement are intended to satisfy the requirements for an exemption from application of Section 409A to the maximum extent that an exemption is available and any ambiguities herein shall be interpreted accordingly; provided, however, that to the extent such an exemption is not available, the severance benefits provided under the Plan are intended to comply with the requirements of Section 409A to the extent necessary to avoid adverse personal tax consequences and any ambiguities herein shall be 
			
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interpreted accordingly. To the extent any payment under the Plan may be classified as a “short-term deferral” within the meaning of Section 409A, such payment shall be deemed a short-term deferral, even if it may also qualify for an exemption from Section 409A under another provision of Section 409A.
(d)Payments pursuant to this Agreement are intended to constitute separate payments for purposes of Section 1.409A-2(b) (2) of the Treasury Regulations under Section 409A.
15.Parachute Payments.
(a)Any provision of this Agreement to the contrary notwithstanding, if any payment or benefit you would receive pursuant to this Agreement or otherwise (“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment will be equal to the Reduced Amount (defined below).  The “Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no portion of the Payment being subject to the Excise Tax (but not below zero) or (y) the largest portion, up to and including the total, of the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in your receipt, on an after-tax basis, of the greater economic benefit notwithstanding that all or some portion of the Payment may be subject to the Excise Tax.  If a reduction in payments or benefits constituting “parachute payments” is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the manner that results in the greatest economic benefit for you.  In applying this principle, the reduction shall be made in a manner consistent with the requirements of Section 409A, and if more than one method of reduction will result in the same economic benefit, the items so reduced will be reduced pro rata.
(b)In the event it is subsequently determined by the Internal Revenue Service that some portion of the Reduced Amount as determined pursuant to clause (x) in the preceding paragraph is subject to the Excise Tax, you agree to promptly return to the Company a sufficient amount of the Payment so that no portion of the Reduced Amount is subject to the Excise Tax.  For the avoidance of doubt, if the Reduced Amount is determined pursuant to clause (y) in the preceding paragraph, you will have no obligation to return any portion of the Payment pursuant to the preceding sentence.
(c)Unless you and the Company agree on an alternative accounting firm, at the Company’s election, either (i) Deloitte & Touche LLP or (ii) the accounting firm engaged by the Company for general tax compliance purposes as of the day prior to the effective date of the a change in ownership or control shall perform the foregoing calculations.  If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the change in ownership or control, the Company shall appoint a nationally recognized accounting firm to make the determinations required hereunder.  The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder.
16.Representations.  You hereby represent that you have been paid all compensation owed and for all hours worked, have received all the leave and leave benefits and protections for which you are eligible, pursuant to the Family and Medical Leave Act or otherwise, and have not suffered any on-the-job injury for which you have not already filed a claim.   
			
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17.General.  This Agreement, including Exhibit A and Exhibit B, constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to this subject matter.  It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other agreements, promises, warranties or representations concerning its subject matter.  You agree that you have been afforded an opportunity to obtain independent legal advice with respect to the details of this Agreement and the release contained herein, that you understand the meaning of the provisions and the consequences of signing them, and that you are executing this Agreement and the release freely, voluntarily, and without coercion or duress.  This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company.  This Agreement will bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns.  If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement and the provision in question will be modified by the court so as to be rendered enforceable to the fullest extent permitted by law, consistent with the intent of the parties insofar as possible under applicable law.  This Agreement shall be construed and enforced in accordance with the laws of the State of California without regard to conflicts of law principles.  Any ambiguity in this Agreement shall not be construed against either party as the drafter.  Any waiver of a breach of this Agreement, or rights hereunder, shall be in writing and shall not be deemed to be a waiver of any successive breach or rights hereunder.  This Agreement may be executed in counterparts which shall be deemed to be part of one original, and facsimile and electronic signatures shall be equivalent to original signatures.
If this Agreement is acceptable to you, please sign below and return the original to me within twenty-one (21) days.  The Company’s offer contained herein will automatically expire if we do not receive the fully signed Agreement within this timeframe.

[Remainder of Page Intentionally Left Blank]

			
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I wish you good luck in your future endeavors.
Sincerely,
Fastly, Inc. 
By: /s/ Ronald W. Kisling     
Ronald W. Kisling
    Chief Financial Officer

Fastly International (Holdings) Ltd.

By: /s/ Ronald W. Kisling     
Ronald W. Kisling
    Authorized Signatory

Exhibit A – Confidential Information and Inventions Assignment Agreement
Exhibit B – Separation Date Release

Accepted and Agreed:
/s/ Joshua Bixby     
Joshua Bixby

9/6/2022                            
Date

			
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Exhibit A
CONFIDENTIAL INFORMATION AND INVENTION ASSIGNMENT AGREEMENT

			
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Exhibit B
SEPARATION DATE RELEASE 
(To be signed and returned to the Company on or within twenty-one (21) days after the Separation Date)
In exchange for the consideration to be provided to me pursuant to that certain letter transition and separation agreement between me and Fastly, Inc. (the “Company”) dated September 6, 2022 (the “Agreement”), I hereby provide the following Separation Date Release.  Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Agreement. 
I hereby represent that: (i) I have been paid all compensation owed and have been paid for all hours worked for the Company through the Separation Date; (ii) I have received all the leave and leave benefits and protections for which I am eligible pursuant to the federal Family and Medical Leave Act or otherwise; and (iii) I have not suffered any on-the-job injury for which I have not already filed a claim.

I hereby generally and completely release the Company, and its affiliated, related, parent and subsidiary entities, and its and their current and former directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, insurers, affiliates, and assigns (collectively, the “Released Parties”) from any and all claims, liabilities and obligations, whether in common law, in equity, in contract, in tort, in statute or otherwise however arising, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to or on the date I sign this Agreement (collectively, the “Released Claims”).  

The Released Claims include, but are not limited to:  (i) all claims arising out of or in any way related to my employment with the Company, or the termination of that employment; (ii) all claims related to my compensation or benefits from the Company, including salary, bonuses, commissions, vacation, expense reimbursements, payment in lieu of notice of termination, severance pay, fringe benefits, stock, stock options, or any other ownership, equity, or profits interests in the Company; (iii) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (iv) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (v) all federal, provincial, state, and local statutory claims, including claims for notice of termination, severance pay, unpaid wages, vacation pay, holiday pay, discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the British Columbia Employment Standards Act, the British Columbia Human Rights Code, the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (the “ADEA”), the California Labor Code (as amended), and the California Fair Employment and Housing Act (as amended).  I further acknowledge and agree that that the terms set out in the Agreement and this release constitute a full and final settlement of any existing, planned or possible complaint or complaints against the Company under any statute or regulation of Canada or of any province, including the British Columbia Employment Standards Act, the British Columbia Human Rights Code or any other applicable law which creates obligations as between an employer and employee relating to the hiring of, the employment or the cessation of my employment with the Company.

I acknowledge that I have been advised, as required by California Government Code Section 12964.5(b)(4), that I have a right to consult an attorney regarding this Separation Date Release and that I was given a reasonable time period of not less than five (5) business 
			
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days in which to do so.  I further acknowledge and agree that, in the event I sign this Separation Date Release prior to the end of the reasonable time period, my decision to accept such shortening of time is knowing and voluntary and is not induced by the Company through fraud, misrepresentation, or a threat to withdraw or alter the offer prior to the expiration of the reasonable time period, or by providing different terms to employees who sign such an agreement prior to the expiration of the time period.

Notwithstanding the foregoing, I acknowledge and understand that the following are not included in the Released Claims (the “Excluded Claims”): (i) any rights or claims for indemnification I may have pursuant to any written indemnification agreement with the Company to which I am a party or under applicable law; (ii) any rights which are not waivable as a matter of law; and (iii) any claims for breach of this Agreement.  I hereby represent and warrant that, other than the Excluded Claims, I am not aware of any claims I have or might have against any of the Released Parties that are not included in the Released Claims.  I understand that nothing in this Agreement limits my ability to file a charge or complaint with any Government Agency.  I further understand this Agreement does not limit my ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to the Company.  While this Agreement does not limit my right to receive an award for information provided to the Securities and Exchange Commission, I understand and agree that, to maximum extent permitted by law, I am otherwise waiving any and all rights I may have to individual relief based on any claims that I have released and any rights I have waived by signing this Agreement.  Nothing in this Agreement prevents me from discussing or disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that I have reason to believe is unlawful.

I acknowledge that I am are knowingly and voluntarily waiving and releasing any rights I may have under the ADEA (the “Release ADEA Waiver”).  I also acknowledge that the consideration given for this waiver is in addition to anything of value to which I was already entitled.  I further acknowledge that I have been advised by this writing, as required by the ADEA, that:  (a) this waiver does not apply to any rights or claims that arise after the date I sign this Separation Date Release; (b) I should consult with an attorney prior to signing this Separation Date Release; (c) I have had twenty-one (21) days to consider this Separation Date Release; (d) I have seven (7) days following the date I sign this Separation Date Release to revoke (in a written revocation sent to the Company’s CEO); and (e) this Separation Date Release will not be effective until the date upon which the revocation period has expired, which will be the eighth day after I sign this Separation Date Release (the “Release Effective Date”).  

In giving the general release of claims herein, which includes claims that may be unknown to me at present, I acknowledge that I have read and understand Section 1542 of the California Civil Code, which reads as follows: “A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.” I hereby expressly waive and relinquish all rights and benefits under that section and any law of any other jurisdiction of similar effect with respect to the releases granted herein, including, without limitation, the release of unknown and unsuspected claims granted in this Separation Date Release.

This Separation Date Release, together with the Agreement and its exhibits, constitutes the entire agreement between me, and the Company with respect to the subject matter hereof. I am not relying on any representation not contained herein or in the Agreement.  I have been afforded an opportunity to obtain independent legal advice with respect to the details of this Separation Date 
			
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Release, that I understand the meaning of the provisions and the consequences of signing them, and that I am executing it freely, voluntarily, and without coercion or duress.

Understood, Accepted and Agreed:
_____________________________________    ______________________
Joshua Bixby    Date

			
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