Document:

EX-10.1

 Exhibit 10.1 
 OREXIGEN THERAPEUTICS, INC. 

2013 EMPLOYEE STOCK PURCHASE PLAN 

ADOPTED BY THE BOARD OF DIRECTORS:
FEBRUARY 15, 2013 
 APPROVED BY THE
STOCKHOLDERS: June 5, 2013 
 1. GENERAL; PURPOSE. 

(a) The Plan provides a means by which Eligible Employees of the Company and certain designated Related Corporations may be given
an opportunity to purchase shares of Common Stock. The Plan permits the Company to grant a series of Purchase Rights to Eligible Employees under an Employee Stock Purchase Plan. 

(b) The Company, by means of the Plan, seeks to retain the services of such Employees, to secure and retain the services of new
Employees and to provide incentives for such persons to exert maximum efforts for the success of the Company and its Related Corporations. 

2. ADMINISTRATION. 
 (a) The Board will administer the Plan unless and until the Board delegates administration of the Plan to a Committee or Committees, as provided in Section 2(c). 

(b) The Board will have the power, subject to, and within the limitations of, the express provisions of the Plan: 

(i) To determine how and when Purchase Rights will be granted and the provisions of each Offering (which need not be identical).

 (ii) To designate from time to time which Related Corporations of the Company will be eligible to participate in the
Plan. 
 (iii) To construe and interpret the Plan and Purchase Rights, and to establish, amend and revoke rules and
regulations for its administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner and to the extent it deems necessary or expedient to make the Plan fully effective. 

(iv) To settle all controversies regarding the Plan and Purchase Rights granted under the Plan. 

(v) To suspend or terminate the Plan at any time as provided in Section 12. 

(vi) To amend the Plan at any time as provided in Section 12. 

(vii) Generally, to exercise such powers and to perform such acts as it deems necessary or expedient to promote the best interests
of the Company and its Related Corporations and to carry out the intent that the Plan be treated as an Employee Stock Purchase Plan. 
 (viii) To adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by Employees who are foreign nationals or employed outside the United States.

 (c) The Board may delegate some or all of the administration of the Plan to a
Committee or Committees. If administration is delegated to a Committee, the Committee will have, in connection with the administration of the Plan, the powers theretofore possessed by the Board that have been delegated to the Committee, including
the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board will thereafter be to the Committee or subcommittee), subject, however, to such resolutions,
not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may retain the authority to concurrently administer the Plan with the Committee and may, at any time, revest in the Board some or all of
the powers previously delegated. Whether or not the Board has delegated administration of the Plan to a Committee, the Board will have the final power to determine all questions of policy and expediency that may arise in the administration of the
Plan. 
 (d) All determinations, interpretations and constructions made by the Board in good faith will not be subject to
review by any person and will be final, binding and conclusive on all persons. 
 3. SHARES OF
COMMON STOCK SUBJECT TO THE PLAN. 

(a) Subject to the provisions of Section 11(a) relating to Capitalization Adjustments, the maximum number of shares of Common
Stock that may be issued under the Plan will not exceed Six Million (6,000,000) shares of Common Stock. 
 (b) If
any Purchase Right granted under the Plan terminates without having been exercised in full, the shares of Common Stock not purchased under such Purchase Right will again become available for issuance under the Plan. 

(c) The stock purchasable under the Plan will be shares of authorized but unissued or reacquired Common Stock, including shares
repurchased by the Company on the open market. 
 4. GRANT OF PURCHASE RIGHTS;
OFFERING. 
 (a) The Board may from time to time grant or provide for the grant of Purchase Rights to
Eligible Employees under an Offering (consisting of one or more Purchase Periods) on an Offering Date or Offering Dates selected by the Board. Each Offering will be in such form and will contain such terms and conditions as the Board will deem
appropriate, and will comply with the requirement of Section 423(b)(5) of the Code that all Employees granted Purchase Rights will have the same rights and privileges. The terms and conditions of an Offering shall be incorporated by reference
into the Plan and treated as part of the Plan. The provisions of separate Offerings need not be identical, but each Offering will include (through incorporation of the provisions of this Plan by reference in the document comprising the Offering or
otherwise) the period during which the Offering will be effective, which period will not exceed 27 months beginning with the Offering Date, and the substance of the provisions contained in Sections 5 through 8, inclusive. 

(b) If a Participant has more than one Purchase Right outstanding under the Plan, unless he or she otherwise indicates in forms
delivered to the Company: (i) each form will apply to all of his or her Purchase Rights under the Plan, and (ii) a Purchase Right with a lower exercise price (or an earlier-granted Purchase Right, if different Purchase Rights have
identical exercise prices) will be exercised to the fullest possible extent before a Purchase Right with a higher exercise price (or a later-granted Purchase Right if different Purchase Rights have identical exercise prices) will be exercised.

 (c) The Board will have the discretion to structure an Offering so that if the Fair Market Value of a share of Common
Stock on the first Trading Day of a new Purchase Period within that Offering is less than or equal to the Fair Market Value of a share of Common Stock on the Offering Date for that Offering, then (i) that Offering will terminate immediately as
of that first Trading Day, and (ii) the Participants in such terminated Offering will be automatically enrolled in a new Offering beginning on the first Trading Day of such new Purchase Period. 

 5. ELIGIBILITY. 

(a) Purchase Rights may be granted only to Employees of the Company or, as the Board may designate in accordance with
Section 2(b), to Employees of a Related Corporation. Except as provided in Section 5(b), an Employee will not be eligible to be granted Purchase Rights unless, on the Offering Date, the Employee has been in the employ of the Company or the
Related Corporation, as the case may be, for such continuous period preceding such Offering Date as the Board may require, but in no event will the required period of continuous employment be equal to or greater than two years. In addition, the
Board may provide that no Employee will be eligible to be granted Purchase Rights under the Plan unless, on the Offering Date, such Employee’s customary employment with the Company or the Related Corporation is more than 20 hours per week and
more than five months per calendar year or such other criteria as the Board may determine consistent with Section 423 of the Code. 
 (b) The Board may provide that each person who, during the course of an Offering, first becomes an Eligible Employee will, on a date or dates specified in the Offering which coincides with the day
on which such person becomes an Eligible Employee or which occurs thereafter, receive a Purchase Right under that Offering, which Purchase Right will thereafter be deemed to be a part of that Offering. Such Purchase Right will have the same
characteristics as any Purchase Rights originally granted under that Offering, as described herein, except that: 
 (i)
the date on which such Purchase Right is granted will be the “Offering Date” of such Purchase Right for all purposes, including determination of the exercise price of such Purchase Right; 

(ii) the period of the Offering with respect to such Purchase Right will begin on its Offering Date and end coincident with the
end of such Offering; and 
 (iii) the Board may provide that if such person first becomes an Eligible Employee within a
specified period of time before the end of the Offering, he or she will not receive any Purchase Right under that Offering. 

(c) No Employee will be eligible for the grant of any Purchase Rights if, immediately after any such Purchase Rights are granted,
such Employee owns stock possessing five percent or more of the total combined voting power or value of all classes of stock of the Company or of any Related Corporation. For purposes of this Section 5(c), the rules of Section 424(d) of
the Code will apply in determining the stock ownership of any Employee, and stock which such Employee may purchase under all outstanding Purchase Rights and options will be treated as stock owned by such Employee. 

(d) As specified by Section 423(b)(8) of the Code, an Eligible Employee may be granted Purchase Rights only if such Purchase
Rights, together with any other rights granted under all Employee Stock Purchase Plans of the Company and any Related Corporations, do not permit such Eligible Employee’s rights to purchase stock of the Company or any Related Corporation to
accrue at a rate which exceeds $25,000 of Fair Market Value of such stock (determined at the time such rights are granted, and which, with respect to the Plan, will be determined as of their respective Offering Dates) for each calendar year in which
such rights are outstanding at any time. 
 (e) Officers of the Company and any designated Related Corporation, if they
are otherwise Eligible Employees, will be eligible to participate in Offerings under the Plan. Notwithstanding the foregoing, the Board may provide in an Offering that Employees who are highly compensated Employees within the meaning of
Section 423(b)(4)(D) of the Code will not be eligible to participate. 
 6. PURCHASE RIGHTS;
PURCHASE PRICE. 
 (a) On each Offering Date, each Eligible Employee, pursuant to an
Offering made under the Plan, will be granted a Purchase Right to purchase up to that number of shares of Common Stock purchasable either with a percentage or with a maximum dollar amount, as designated by the Board, but in either case not exceeding
15% of such Employee’s earnings (as defined by the Board in each Offering) during the period that begins on the Offering Date (or such later date as the Board determines for a particular Offering) and ends on the date stated in the Offering,
which date will be no later than the end of the Offering. 

 (b) The Board will establish one or more Purchase Dates during an Offering on which
Purchase Rights granted for that Offering will be exercised and shares of Common Stock will be purchased in accordance with such Offering. 
 (c) In connection with each Offering made under the Plan, the Board may specify (i) a maximum number of shares of Common Stock that may be purchased by any Participant on any Purchase Date
during such Offering, (ii) a maximum aggregate number of shares of Common Stock that may be purchased by all Participants pursuant to such Offering and/or (iii) a maximum aggregate number of shares of Common Stock that may be purchased by
all Participants on any Purchase Date under the Offering. If the aggregate purchase of shares of Common Stock issuable upon exercise of Purchase Rights granted under the Offering would exceed any such maximum aggregate number, then, in the absence
of any Board action otherwise, a pro rata (based on each Participant’s accumulated Contributions) allocation of the shares of Common Stock available will be made in as nearly a uniform manner as will be practicable and equitable. 

(d) The purchase price of shares of Common Stock acquired pursuant to Purchase Rights will be not less than the lesser of:

 (i) an amount equal to 85% of the Fair Market Value of the shares of Common Stock on the Offering Date; or 

(ii) an amount equal to 85% of the Fair Market Value of the shares of Common Stock on the applicable Purchase Date. 

7. PARTICIPATION; WITHDRAWAL; TERMINATION. 

(a) An Eligible Employee may elect to authorize payroll deductions as the means of making Contributions by completing and
delivering to the Company, within the time specified in the Offering, an enrollment form provided by the Company. The enrollment form will specify the amount of Contributions not to exceed the maximum amount specified by the Board. Each
Participant’s Contributions will be credited to a bookkeeping account for such Participant under the Plan and will be deposited with the general funds of the Company except where applicable law requires that Contributions be deposited with a
third party. If permitted in the Offering, a Participant may begin such Contributions with the first payroll occurring on or after the Offering Date (or, in the case of a payroll date that occurs after the end of the prior Offering but before the
Offering Date of the next new Offering, Contributions from such payroll will be included in the new Offering). If permitted in the Offering, a Participant may thereafter reduce (including to zero) or increase his or her Contributions. If
specifically provided in the Offering, in addition to making Contributions by payroll deductions, a Participant may make Contributions through the payment by cash or check prior to a Purchase Date. 

(b) During an Offering, a Participant may cease making Contributions and withdraw from the Offering by delivering to the Company a
withdrawal form provided by the Company. The Company may impose a deadline before a Purchase Date for withdrawing. Upon such withdrawal, such Participant’s Purchase Right in that Offering will immediately terminate and the Company will
distribute to such Participant all of his or her accumulated but unused Contributions and such Participant’s Purchase Right in that Offering shall thereupon terminate. A Participant’s withdrawal from that Offering will have no effect upon
his or her eligibility to participate in any other Offerings under the Plan, but such Participant will be required to deliver a new enrollment form to participate in subsequent Offerings. 

 (c) Purchase Rights granted pursuant to any Offering under the Plan will terminate
immediately if the Participant either (i) is no longer an Employee for any reason or for no reason (subject to any post-employment participation period required by law) or (ii) is otherwise no longer eligible to participate. The Company
will distribute to such individual all of his or her accumulated but unused Contributions. 
 (d) During a
Participant’s lifetime, Purchase Rights will be exercisable only by such Participant. Purchase Rights are not transferable by a Participant, except by will, by the laws of descent and distribution, or, if permitted by the Company, by a
beneficiary designation as described in Section 10. 
 (e) Unless otherwise specified in the Offering, the Company
will have no obligation to pay interest on Contributions. 
 8. EXERCISE OF PURCHASE
RIGHTS. 
 (a) On each Purchase Date, each Participant’s accumulated Contributions will be applied
to the purchase of shares of Common Stock, up to the maximum number of shares of Common Stock permitted by the Plan and the applicable Offering, at the purchase price specified in the Offering. No fractional shares will be issued unless specifically
provided for in the Offering. 
 (b) If any amount of accumulated Contributions remains in a Participant’s account
after the purchase of shares of Common Stock and such remaining amount is less than the amount required to purchase one share of Common Stock on the final Purchase Date of an Offering, then such remaining amount will be held in such
Participant’s account for the purchase of shares of Common Stock under the next Offering under the Plan, unless such Participant withdraws from or is not eligible to participate in such Offering, in which case such amount will be distributed to
such Participant after the final Purchase Date, without interest. If the amount of Contributions remaining in a Participant’s account after the purchase of shares of Common Stock is at least equal to the amount required to purchase one whole
share of Common Stock on the final Purchase Date of an Offering, then such remaining amount will not roll over to the next Offering and will instead be distributed in full to such Participant after the final Purchase Date of such Offering without
interest. 
 (c) No Purchase Rights may be exercised to any extent unless the shares of Common Stock to be issued upon
such exercise under the Plan are covered by an effective registration statement pursuant to the Securities Act and the Plan is in material compliance with all applicable federal, state, foreign and other securities and other laws applicable to the
Plan. If on a Purchase Date the shares of Common Stock are not so registered or the Plan is not in such compliance, no Purchase Rights will be exercised on such Purchase Date, and the Purchase Date will be delayed until the shares of Common Stock
are subject to such an effective registration statement and the Plan is in material compliance, except that the Purchase Date will in no event be more than 6 months from the Offering Date. If, on the Purchase Date, as delayed to the maximum extent
permissible, the shares of Common Stock are not registered and the Plan is not in material compliance with all applicable laws, no Purchase Rights will be exercised and all accumulated but unused Contributions will be distributed to the Participants
without interest. 
 9. COVENANTS OF THE COMPANY. 

The Company will seek to obtain from each federal, state, foreign or other regulatory commission or agency having jurisdiction over the
Plan such authority as may be required to grant Purchase Rights and issue and sell shares of Common Stock thereunder. If, after commercially reasonable efforts, the Company is unable to obtain the authority that counsel for the Company deems
necessary for the grant of Purchase Rights or the lawful issuance and sale of Common Stock under the Plan, and at a commercially reasonable cost, the Company will be relieved from any liability for failure to grant Purchase Rights and/or to issue
and sell Common Stock upon exercise of such Purchase Rights. 

 10. DESIGNATION OF BENEFICIARY. 

(a) The Company may, but is not obligated to, permit a Participant to submit a form designating a beneficiary who will receive any
shares of Common Stock and/or Contributions from the Participant’s account under the Plan if the Participant dies before such shares and/or Contributions are delivered to the Participant. The Company may, but is not obligated to, permit the
Participant to change such designation of beneficiary. Any such designation and/or change must be on a form approved by the Company. 
 (b) If a Participant dies, and in the absence of a valid beneficiary designation, the Company will deliver any shares of Common Stock and/or Contributions to the executor or administrator of the
estate of the Participant. If no executor or administrator has been appointed (to the knowledge of the Company), the Company, in its sole discretion, may deliver such shares of Common Stock and/or Contributions to the Participant’s spouse,
dependents or relatives, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 
 11. ADJUSTMENTS UPON CHANGES IN COMMON STOCK; CORPORATE TRANSACTIONS.

 (a) In the event of a Capitalization Adjustment, the Board will appropriately and proportionately adjust:
(i) the class(es) and maximum number of securities subject to the Plan pursuant to Section 3(a), (ii) the class(es) and maximum number of securities by which the share reserve is to increase automatically each year pursuant to
Section 3(a), (iii) the class(es) and number of securities subject to, and the purchase price applicable to outstanding Offerings and Purchase Rights, and (iv) the class(es) and number of securities that are the subject of the
purchase limits under each ongoing Offering. The Board will make these adjustments, and its determination will be final, binding and conclusive. 
 (b) In the event of a Corporate Transaction, then: (i) any surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company) may assume or
continue outstanding Purchase Rights or may substitute similar rights (including a right to acquire the same consideration paid to the stockholders in the Corporate Transaction) for outstanding Purchase Rights, or (ii) if any surviving or
acquiring corporation (or its parent company) does not assume or continue such Purchase Rights or does not substitute similar rights for such Purchase Rights, then the Participants’ accumulated Contributions will be used to purchase shares of
Common Stock within ten business days prior to the Corporate Transaction under the outstanding Purchase Rights, and the Purchase Rights will terminate immediately after such purchase. 
 12. AMENDMENT, TERMINATION OR SUSPENSION OF THE PLAN. 

(a) The Board may amend the Plan at any time in any respect the Board deems necessary or advisable. However, except as provided in
Section 11(a) relating to Capitalization Adjustments, stockholder approval will be required for any amendment of the Plan for which stockholder approval is required by applicable law or listing requirements, including any amendment that either
(i) materially increases the number of shares of Common Stock available for issuance under the Plan, (ii) materially expands the class of individuals eligible to become Participants and receive Purchase Rights, (iii) materially
increases the benefits accruing to Participants under the Plan or materially reduces the price at which shares of Common Stock may be purchased under the Plan, (iv) materially extends the term of the Plan, or (v) expands the types of
awards available for issuance under the Plan, but in each of (i) through (v) above only to the extent stockholder approval is required by applicable law or listing requirements. 

(b) The Board may suspend or terminate the Plan at any time. No Purchase Rights may be granted under the Plan while the Plan is
suspended or after it is terminated. 

 (c) Any benefits, privileges, entitlements and obligations under any outstanding
Purchase Rights granted before an amendment, suspension or termination of the Plan will not be materially impaired by any such amendment, suspension or termination except (i) with the consent of the person to whom such Purchase Rights were
granted, (ii) as necessary to comply with any laws, listing requirements, or governmental regulations (including, without limitation, the provisions of Section 423 of the Code and the regulations and other interpretive guidance issued
thereunder relating to Employee Stock Purchase Plans) including without limitation any such regulations or other guidance that may be issued or amended after the Effective Date, or (iii) as necessary to obtain or maintain favorable tax,
listing, or regulatory treatment. To be clear, the Board may amend outstanding Purchase Rights without a Participant’s consent if such amendment is necessary to ensure that the Purchase Right and/or the Plan complies with the requirements of
Section 423 of the Code. 
 13. EFFECTIVE DATE OF PLAN. 

The Plan will become effective upon approval by the stockholders of the Company, which approval must be within 12 months before or after
the date the Plan is adopted (or if required under Section 12(a) above, materially amended) by the Board. 
 14.
MISCELLANEOUS PROVISIONS. 
 (a) Proceeds from the sale of shares of Common Stock
pursuant to Purchase Rights will constitute general funds of the Company. 
 (b) A Participant will not be deemed to be
the holder of, or to have any of the rights of a holder with respect to, shares of Common Stock subject to Purchase Rights unless and until the Participant’s shares of Common Stock acquired upon exercise of Purchase Rights are recorded in the
books of the Company (or its transfer agent). 
 (c) The Plan and Offering do not constitute an employment contract.
Nothing in the Plan or in the Offering will in any way alter the at will nature of a Participant’s employment or be deemed to create in any way whatsoever any obligation on the part of any Participant to continue in the employ of the Company or
a Related Corporation, or on the part of the Company or a Related Corporation to continue the employment of a Participant. 

(d) The provisions of the Plan will be governed by the laws of the State of Delaware without resort to that state’s conflicts
of laws rules. 
 15. DEFINITIONS. 
 As used in the Plan, the following definitions will apply to the capitalized terms indicated below: 
 (a) “Board” means the Board of Directors of the Company. 
 (b) “Capital Stock” means each and every class of common stock of the Company, regardless of the number of votes per share. 

(c) “Capitalization Adjustment” means any change that is made in, or other events that occur with respect
to, the Common Stock subject to the Plan or subject to any Purchase Right after the Effective Date without the receipt of consideration by the Company through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend,
dividend in property other than cash, large nonrecurring cash dividend, stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or other similar equity restructuring transaction, as that term is
used in Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto). Notwithstanding the foregoing, the conversion of any convertible securities of the Company will not be treated as a Capitalization
Adjustment. 
 (d) “Code” means the Internal Revenue Code of 1986, as amended, including any
applicable regulations and guidance thereunder. 

 (e) “Committee” means a committee of one or more members of
the Board to whom authority has been delegated by the Board in accordance with Section 2(c). 
 (f)
“Common Stock” means the common stock of the Company, having 1 vote per share. 
 (g)
“Company” means Orexigen Therapeutics, Inc., a Delaware corporation. 
 (h)
“Contributions” means the payroll deductions and other additional payments specifically provided for in the Offering that a Participant contributes to fund the exercise of a Purchase Right. A Participant may make
additional payments into his or her account if specifically provided for in the Offering, and then only if the Participant has not already had the maximum permitted amount withheld during the Offering through payroll deductions. 

(i) “Corporate Transaction” means the consummation, in a single transaction or in a series of related
transactions, of any one or more of the following events: 
 (i) a sale or other disposition of all or substantially all,
as determined by the Board in its sole discretion, of the consolidated assets of the Company and its Subsidiaries; 
 (ii)
a sale or other disposition of at least 90% of the outstanding securities of the Company; 
 (iii) a merger,
consolidation or similar transaction following which the Company is not the surviving corporation; or 
 (iv) a merger,
consolidation or similar transaction following which the Company is the surviving corporation but the shares of Common Stock outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of
the merger, consolidation or similar transaction into other property, whether in the form of securities, cash or otherwise. 

(j) “Director” means a member of the Board. 

(k) “Eligible Employee” means an Employee who meets the requirements set forth in the document(s)
governing the Offering for eligibility to participate in the Offering, provided that such Employee also meets the requirements for eligibility to participate set forth in the Plan. 

(l) “Employee” means any person, including an Officer or Director, who is “employed” for
purposes of Section 423(b)(4) of the Code by the Company or a Related Corporation. However, service solely as a Director, or payment of a fee for such services, will not cause a Director to be considered an “Employee” for purposes of
the Plan. 
 (m) “Employee Stock Purchase Plan” means a plan that grants Purchase Rights intended
to be options issued under an “employee stock purchase plan,” as that term is defined in Section 423(b) of the Code. 
 (n) “Exchange Act” means the Securities Exchange Act of 1934, as amended and the rules and regulations promulgated thereunder. 

(o) “Fair Market Value” means, as of any date, the value of the Common Stock determined as follows:

 (i) If the Common Stock is listed on any established stock exchange or traded on any established market, the Fair
Market Value of a share of Common Stock will be the closing sales price for such stock as quoted on such exchange or market (or the exchange or market with the greatest volume of trading in the Common Stock) on the date of
determination, as reported in such source as the Board deems reliable. Unless otherwise provided by the Board, if there is no closing sales price for the Common Stock on the date of determination, then the Fair Market Value will be the closing sales
price on the last preceding date for which such quotation exists. 

 (ii) In the absence of such markets for the Common Stock, the Fair Market Value will
be determined by the Board in good faith in compliance with applicable laws and in a manner that complies with Sections 409A of the Code. 
 (p) “Offering” means the grant to Eligible Employees of Purchase Rights, with the exercise of those Purchase Rights automatically occurring at the end of one or more
Purchase Periods. The terms and conditions of an Offering will generally be set forth in the “Offering Document” approved by the Board for that Offering. 

(q) “Offering Date” means a date selected by the Board for an Offering to commence. 

(r) “Officer” means a person who is an officer of the Company or a Related Corporation within the meaning
of Section 16 of the Exchange Act. 
 (s) “Participant” means an Eligible Employee who holds
an outstanding Purchase Right. 
 (t) “Plan” means this Orexigen Therapeutics, Inc. 2013 Employee
Stock Purchase Plan. 
 (u) “Purchase Date” means one or more dates during an Offering selected
by the Board on which Purchase Rights will be exercised and on which purchases of shares of Common Stock will be carried out in accordance with such Offering. 
 (v) “Purchase Period” means a period of time specified within an Offering, generally beginning on the Offering Date or on the first Trading Day following a Purchase Date,
and ending on a Purchase Date. An Offering may consist of one or more Purchase Periods. 
 (w) “Purchase
Right” means an option to purchase shares of Common Stock granted pursuant to the Plan. 
 (x)
“Related Corporation” means any “parent corporation” or “subsidiary corporation” of the Company whether now or subsequently established, as those terms are defined in Sections 424(e) and (f),
respectively, of the Code. 
 (y) “Securities Act” means the Securities Act of 1933, as amended.

 (z) “Trading Day” means any day on which the exchange(s) or market(s) on which shares of
Common Stock are listed, including but not limited to the NYSE, Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or any successors thereto, is open for trading.EX-10.1

 Exhibit 10.1 
 SECOND AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT 
 This
SECOND AMENDMENT TO THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”) is entered into as of June 4, 2013, by and among MRC ENERGY COMPANY, a Texas corporation (the “Borrower”), the LENDERS party
hereto and ROYAL BANK OF CANADA, as Administrative Agent for the Lenders (in such capacity, the “Administrative Agent”). Unless otherwise expressly defined herein, capitalized terms used but not defined in this Amendment have the
meanings assigned to such terms in the Credit Agreement (as defined below). 
 WITNESSETH: 

WHEREAS, the Borrower, the Administrative Agent and the Lenders have entered into that certain Third Amended and Restated Credit
Agreement, dated as of September 28, 2012 (as the same has been and may hereafter be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); and 

WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders amend the Credit Agreement in certain respects
and the Administrative Agent and the Lenders have agreed to do so on the terms and conditions hereinafter set forth. 
 NOW,
THEREFORE, for and in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged and confessed, the Borrower, the Administrative
Agent and the Lenders hereby agree as follows: 
 SECTION 1. Amendments to Credit Agreement. Subject to the satisfaction or waiver in
writing of each condition precedent set forth in Section 3 of this Amendment, and in reliance on the representations, warranties, covenants and agreements contained in this Amendment, the Credit Agreement shall be amended in the manner
provided in this Section 1. 
 1.1 Amended Definition. The following definition in
Section 1.1 of the Credit Agreement shall be and it hereby is amended and restated in its entirety to read as follows: 
 “Indebtedness” means (a) all indebtedness, obligations and liabilities of every nature, contingent or otherwise, of Borrower or any Guarantor to any of the Lenders, any of the
Lenders’ Affiliates, the Administrative Agent, or the Issuing Lender, individually or collectively, under any Loan Document, whether for principal, interest, reimbursement of amounts drawn under any Letter of Credit, funding indemnification
amounts, fees, expenses, indemnification or otherwise, (b) Lender Hedging Obligations, and (c) Lender Product Obligations, in each case whether existing on the date of this Agreement or arising thereafter, direct or indirect, joint or
several, absolute or contingent, matured or unmatured, liquidated or unliquidated, secured or unsecured, including interest accruing subsequent to the filing of a petition or other action concerning bankruptcy or other similar proceedings, and all
renewals, extensions, refinancings and replacements for the foregoing; provided; however, that in no event shall the Indebtedness include, with respect to any Guarantor, any Excluded Swap Obligations of such Guarantor. 

  

					
		 		 	
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 1.2 Schedule 1.2. Schedule 1.2 to the Credit Agreement shall be and it
hereby is amended and restated in its entirety and replaced with Schedule 1.2 attached hereto. 
 SECTION 2. Redetermined Borrowing
Base and Conforming Borrowing Base. This Amendment shall constitute notice of a redetermination of the Borrowing Base and the Conforming Borrowing Base pursuant to Section 4.2 of the Credit Agreement, and the Administrative Agent,
the Lenders and the Borrower hereby acknowledge that effective as of the date hereof, the Borrowing Base shall be $280,000,000 and the Conforming Borrowing Base shall be $245,000,000 and such redetermined Borrowing Base and Conforming Borrowing Base
shall remain in effect until the date the Borrowing Base and the Conforming Borrowing Base are otherwise adjusted pursuant to the terms of the Credit Agreement. 
 SECTION 3. Conditions. The amendments to the Credit Agreement contained in Section 1 of this Amendment and the redetermination of the Borrowing Base and Conforming Borrowing Base
contained in Section 2 of this Amendment shall be effective upon the satisfaction of each of the conditions set forth in this Section 3. 
 3.1 Execution and Delivery. The Administrative Agent shall have received a duly executed counterpart of (a) this Amendment signed by the Borrower and the Lenders and (b) the
Consent and Reaffirmation attached hereto signed by each Guarantor. 
 3.2 No Default. No Default or Event of
Default shall have occurred and be continuing or shall result from the effectiveness of this Amendment. 
 3.3 Fees.
The Borrower and the Administrative Agent shall have executed and delivered a fee letter in connection with this Amendment, and the Administrative Agent shall have received the fees separately agreed upon in such fee letter. 

3.4 Other Documents. The Administrative Agent shall have received such other instruments and documents incidental and
appropriate to the transactions provided for herein as the Administrative Agent or its special counsel may reasonably request, and all such documents shall be in form and substance reasonably satisfactory to the Administrative Agent. 

SECTION 4. Representations and Warranties. To induce the Lenders to enter into this Amendment, the Borrower hereby represents and warrants to the
Lenders as follows: 
 4.1 Reaffirmation of Representations and Warranties. After giving effect to the amendments herein,
each representation and warranty of the Borrower, the Parent and each other Credit Party contained in the Credit Agreement and in each of the other Loan Documents to which it is a party is true and correct in all material respects as of the date
hereof (without duplication of any materiality qualifier contained therein), except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and warranties shall continue to
be true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of such specified earlier date. 

  

					
		 		 	
		 	PAGE 2	 	
		 		 	

 4.2 Corporate Authority; No Conflicts. The execution, delivery and performance
by the Borrower of this Amendment and all documents, instruments and agreements contemplated herein are within the Borrower’s corporate powers, have been duly authorized by necessary corporate action by the Borrower, require no action by or in
respect of, or filing with, any court or agency of government (except for the recording and filing of Collateral Documents and financing statements) and (a) do not violate in any material respect any Requirement of Law, (b) are not in
contravention of the terms of any material Contractual Obligation, indenture, agreement or undertaking to which the Borrower is a party or by which it or its properties are bound where such violation could reasonably be expected to have a Material
Adverse Effect, and (c) do not result in the creation or imposition of any Lien upon any of the assets of the Borrower except for Liens permitted by Section 8.2 of the Credit Agreement and otherwise as permitted in the Credit
Agreement. 
 4.3 Enforceability. This Amendment constitutes the valid and binding obligation of the Borrower
enforceable in accordance with its terms, except as (i) the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditor’s rights generally, and (ii) the availability of equitable remedies may be
limited by equitable principles of general application. 
 4.4 No Default. As of the date hereof, both before and
immediately after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing. 
 SECTION 5.
Miscellaneous. 
 5.1 Reaffirmation of Loan Documents and Liens. Any and all of the terms and provisions of
the Credit Agreement and the Loan Documents shall, except as amended and modified hereby, remain in full force and effect and are hereby in all respects ratified and confirmed by the Borrower. The Borrower hereby agrees that the amendments and
modifications herein contained shall in no manner affect or impair the liabilities, duties and obligations of the Borrower, the Parent or any other Credit Party under the Credit Agreement and the other Loan Documents or the Liens securing the
payment and performance thereof, except as amended and modified hereby. 
 5.2 Parties in Interest. All of the
terms and provisions of this Amendment shall bind and inure to the benefit of the parties hereto and their respective successors and assigns. 
 5.3 Further Assurances. The Borrower covenants and agrees from time to time, as and when reasonably requested by the Administrative Agent or the Lenders, to execute and deliver or cause to
be executed or delivered, all such documents, instruments and agreements and to take or cause to be taken such further or other action as the Administrative Agent or the Lenders may reasonably deem necessary or desirable in order to carry out the
intent and purposes of this Amendment. 
 5.4 Legal Expenses. The Borrower hereby agrees to pay all reasonable and
documented out-of-pocket fees and expenses of special counsel to the Administrative Agent incurred by the Administrative Agent in connection with the preparation, negotiation and execution of this Amendment and all related documents. 

  

					
		 		 	
		 	PAGE 3	 	
		 		 	

 5.5 Counterparts. This Amendment may be executed in one or more counterparts
and by different parties hereto in separate counterparts each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument; signature pages may be detached
from multiple separate counterparts and attached to a single counterpart so that all signature pages are physically attached to the same document. Delivery of photocopies of the signature pages to this Amendment by facsimile or electronic mail shall
be effective as delivery of manually executed counterparts of this Amendment. 
 5.6 Complete Agreement. THIS AMENDMENT,
THE CREDIT AGREEMENT, AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN
THE PARTIES. 
 5.7 Headings. The headings, captions and arrangements used in this Amendment are, unless specified
otherwise, for convenience only and shall not be deemed to limit, amplify or modify the terms of this Amendment, nor affect the meaning thereof. 
 5.8 Governing Law. This Amendment shall be construed in accordance with and governed by the laws of the State of Texas. 

5.9 Severability. Any provision of this Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in
a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 5.10 Reference to and Effect on
the Loan Documents. 
 (a) This Amendment shall be deemed to constitute a Loan Document for all purposes and in all
respects. Each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import, and each reference in the Credit Agreement or in any other Loan Document, or other
agreements, documents or other instruments executed and delivered pursuant to the Credit Agreement to the “Credit Agreement”, shall mean and be a reference to the Credit Agreement as amended by this Amendment. 

(b) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of any Lender
or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. 
 [Signature pages follow.] 

  

					
		 		 	
		 	PAGE 4	 	
		 		 	

  
 IN WITNESS WHEREOF, the parties have caused this Amendment to be duly
executed by their respective authorized officers to be effective as of the date first above written. 
  

			
	BORROWER:
	
	MRC ENERGY COMPANY,
	as Borrower
		
	By:	 	 /s/ David E. Lancaster

	Name:	 	David E. Lancaster
	Title:	 	Executive Vice President

  

					
		 		 	
		 	SIGNATURE PAGE	 	
		 		 	

 
			
	ROYAL BANK OF CANADA,
	as Administrative Agent
		
	By:	 	 /s/ Rodica Dutka

	Name:	 	Rodica Dutka
	Title:	 	Manager, Agency
	
	 ROYAL BANK OF CANADA,
 as a Lender and as an Issuing Lender

		
	By:	 	 /s/ Jay Sartain

	Name:	 	Jay Sartain
	Title:	 	Authorized Signatory

  

					
		 		 	
		 	SIGNATURE PAGE	 	
		 		 	

 
			
	CITIBANK, N.A.,
	as a Lender
		
	By:	 	 /s/ Ryan Watson

	Name:	 	Ryan Watson
	Title:	 	Senior Vice President

  

					
		 		 	
		 	SIGNATURE PAGE	 	
		 		 	

 
			
	COMERICA BANK,
	as a Lender and as an Issuing Lender
		
	By:	 	 /s/ Brandon M. White

	Name:	 	Brandon M. White
	Title:	 	Corporate Banking Officer

  

					
		 		 	
		 	SIGNATURE PAGE	 	
		 		 	

 
			
	SUNTRUST BANK,
	as a Lender
		
	By:	 	 /s/ Shannon Juhan

	Name:	 	Shannon Juhan
	Title:	 	Vice President

  

					
		 		 	
		 	SIGNATURE PAGE	 	
		 		 	

 
			
	THE BANK OF NOVA SCOTIA,
	as a Lender
		
	By:	 	 /s/ Terry Donovan

	Name:	 	Terry Donovan
	Title:	 	Managing Director

  

					
		 		 	
		 	SIGNATURE PAGE	 	
		 		 	

 
			
	BMO Harris Financing, Inc.,
	as a Lender
		
	By:	 	 /s/ James V. Ducote

	Name:	 	James V. Ducote
	Title:	 	Director

  

					
		 		 	
		 	SIGNATURE PAGE	 	
		 		 	

 
			
	CAPITAL ONE, N.A.,
	as a Lender
		
	By:	 	 /s/ Nancy Mak

	Name:	 	Nancy Mak
	Title:	 	Senior Vice President

  

					
		 		 	
		 	SIGNATURE PAGE	 	
		 		 	

 
			
	IBERIABANK,
	as a Lender
		
	By:	 	 /s/ W. Bryan Chapman

	Name:	 	W. Bryan Chapman
	Title:	 	Executive Vice President

  

					
		 		 	
		 	SIGNATURE PAGE	 	
		 		 	

 Schedule 1.2 
 Percentages and Allocations 
 Revolving Credit 

 

									
	 LENDERS
	  	REVOLVING
CREDIT
ALLOCATIONS
	 	  	REVOLVING
CREDIT
PERCENTAGE
	 
	 Royal Bank of Canada
	  	$	60,392,156.86	  	  	 	21.5686274510	% 
	 Comerica Bank
	  	$	46,666,666.67	  	  	 	16.6666666667	% 
	 Citibank, N.A.
	  	$	43,921,568.63	  	  	 	15.6862745098	% 
	 SunTrust Bank
	  	$	35,686,274.51	  	  	 	12.7450980392	% 
	 The Bank of Nova Scotia
	  	$	35,686,274.51	  	  	 	12.7450980392	% 
	 BMO Harris Financing, Inc.
	  	$	21,960,784.31	  	  	 	7.8431372549	% 
	 Capital One, N.A.
	  	$	21,960,784.31	  	  	 	7.8431372549	% 
	 IBERIABANK
	  	$	13,725,490.20	  	  	 	4.90196078431	% 
		  	  
	  
	 	  	  
	  
	 
	 TOTALS
	  	$	280,000,000.00	  	  	 	100.00000000	% 
		  	  
	  
	 	  	  
	  
	 

  

					
		 		 	
		 	SCHEDULE 1.2	 	
		 		 	

 CONSENT AND REAFFIRMATION 

Each of the undersigned (each a “Guarantor”) hereby (i) acknowledges receipt of a copy of the foregoing Second
Amendment to Third Amended and Restated Credit Agreement (the “Second Amendment”); (ii) consents to the Borrower’s execution and delivery thereof; (iii) consents to the terms of the Second Amendment; (iv) affirms
that nothing contained therein shall modify in any respect whatsoever its guaranty of the Indebtedness pursuant to the terms of the Guaranty or the Liens granted by it pursuant to the terms of the other Loan Documents to which it is a party securing
payment and performance of the Indebtedness, (v) reaffirms that the Guaranty and the other Loan Documents to which it is a party and such Liens are and shall continue to remain in full force and effect and are hereby ratified and confirmed in
all respects and (vi) represents and warrants to the Administrative Agent and the Lenders that, as of the date hereof, (x) all of the representations and warranties made by it in each of the Loan Documents to which it is a party are true
and correct in all material respects (without duplication of any materiality qualifier contained therein), except to the extent any such representations and warranties are expressly limited to an earlier date, in which case, such representations and
warranties shall continue to be true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of such specified earlier date, and (y) no Default or Event of Default has occurred and is
continuing. Although each Guarantor has been informed of the matters set forth herein and has acknowledged and agreed to same, each Guarantor understands that neither the Administrative Agent nor any of the Lenders have any obligation to inform any
Guarantor of such matters in the future or to seek any Guarantor’s acknowledgment or agreement to future amendments or waivers for the Guaranty and other Loan Documents to which it is a party to remain in full force and effect, and nothing
herein shall create such duty or obligation. 
 [SIGNATURE PAGES FOLLOW] 

  

					
		 		 	
		 	CONSENT AND REAFFIRMATION	 	
		 		 	

 IN WITNESS WHEREOF, the undersigned has executed this Consent and Reaffirmation on and as of
the date of the Second Amendment. 
  

			
	GUARANTORS:
	
	MRC PERMIAN COMPANY
		
	By:	 	  

	Name:	 	David E. Lancaster
	Title:	 	Executive Vice President
	
	MRC ROCKIES COMPANY
		
	By:	 	  

	Name:	 	David E. Lancaster
	Title:	 	Executive Vice President
	
	MATADOR PRODUCTION COMPANY
		
	By:	 	  

	Name:	 	David E. Lancaster
	Title:	 	Executive Vice President
	
	LONGWOOD GATHERING AND
	DISPOSAL SYSTEMS GP, INC.
		
	By:	 	  

	Name:	 	David E. Lancaster
	Title:	 	Executive Vice President
	
	LONGWOOD GATHERING AND
	DISPOSAL SYSTEMS, LP
		
	By:	 	Longwood Gathering and Disposal
		 	Systems GP, Inc., its General Partner
		
	By:	 	  

	Name:	 	David E. Lancaster
	Title:	 	Executive Vice President

  

					
		 		 	
		 	CONSENT AND REAFFIRMATION SIGNATURE PAGE	 	
		 		 	

 
			
	MATADOR RESOURCES COMPANY
		
	By:	 	  

	Name:	 	David E. Lancaster
	Title:	 	Executive Vice President

  

					
		 		 	
		 	CONSENT AND REAFFIRMATION SIGNATURE PAGE

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