Document:

Class E Unit and Common Purchase Agreement dated March 8, 2007

 Exhibit 10.2 
 Execution Version 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 This FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of April 4, 2007, is entered into by and among CONSTELLATION ENERGY
PARTNERS LLC, a Delaware limited liability company (the “Borrower”) and the Lenders signatory hereto (the “Lenders”). 
 RECITALS 
 WHEREAS, the Borrower, the Lenders and The Royal Bank of Scotland plc, as Administrative Agent and a Lender, are party
to that certain Credit Agreement dated as of October 31, 2006, (such Credit Agreement, as the same may from time to time be amended, modified, supplemented or restated, herein called the “Credit Agreement”). Terms used and not
otherwise defined herein shall have the respective meanings assigned to such terms in the Credit Agreement, and the provisions of Section 1.03 of the Credit Agreement are incorporated herein by reference; and 
 WHEREAS, the Borrower and the Lenders have agreed, subject to the terms and conditions hereinafter set forth, to amend the Credit Agreement as set forth
below. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 SECTION 1.
Amendments to Credit Agreement. Pursuant to Section 12.02 of the Credit Agreement, the Credit Agreement is hereby amended as set forth below. 
 (a) Borrowing Base. From and after the date hereof and until the same may be redetermined in accordance with the Credit Agreement, the Borrowing Base shall be $105,000,000 (the “New Base
Amount”). For the avoidance of doubt, the redetermination of the Borrowing Base contained in this Section 1(a) is the scheduled redetermination described in Section 2.07(b) of the Credit Agreement. 
 (b) Section 7.22 of the Credit Agreement is amended and restated in full to read as follows: 
 “Schedule 7.22, as of the date hereof, and after the date hereof, each report required to be delivered by the Borrower pursuant to
Section 8.01(c), sets forth a true and complete list of all Swap Agreements of the Borrower and each of its Subsidiaries, the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes),
the net marked-to-market value thereof, all credit support agreements relating thereto (including any margin required or supplied) and the counterparty to each such agreement.” 

 (c) Section 8.01(c)(iv) of the Credit Agreement is amended and restated in full to read as follows:

 “(iv) setting forth as of the last Business Day of such calendar month or fiscal year, a true and complete list of all
Swap Agreements of the Borrower and each of its Consolidated Subsidiaries, the material terms thereof (including the type, term, effective date, termination date and notional amounts or volumes), the net mark-to-market value therefor, any new credit
support agreements relating thereto not listed on Schedule 7.22, any margin required or supplied under any credit support document, and the counterparty to each such agreement.” 
 (d) Section 8.13(a) of the Credit Agreement is amended and restated in full to read as follows: 
 “(a) In connection with each redetermination of the Borrowing Base, the Borrower shall review the Reserve Report and the list of
current Mortgaged Properties to ascertain whether the Mortgaged Properties represent at least 85% of the total value of the Proved Developed Producing Reserves and Proved Developed Nonproducing Reserves evaluated in the most recently completed
Reserve Report after giving effect to exploration and production activities, acquisitions, dispositions and production. In the event that the Mortgaged Properties do not represent at least 85% of such total value, then the Borrower shall, and shall
cause its Subsidiaries to, grant to the Administrative Agent or its designee as security for the Obligations a first-priority Lien interest (provided the Excepted Liens of the type described in clauses (a) to (d) and (f) of the
definition thereof may exist, but subject to the provisos at the end of such definition) on additional Oil and Gas Properties not already subject to a Lien of the Security Instruments such that after giving effect thereto, the Mortgaged Properties
will represent at least 85% of such total value. All such Liens will be created and perfected by and in accordance with the provisions of deeds of trust, security agreements and financing statements or other Security Instruments, all in form and
substance reasonably satisfactory to the Administrative Agent or its designee and in sufficient executed (and acknowledged where necessary or appropriate) counterparts for recording purposes. In order to comply with the foregoing, if any Subsidiary
places a Lien on its Oil and Gas Properties and such Subsidiary is not a Guarantor, then it shall become a Guarantor and comply with Section 8.13(b).” 
 (e) Section 12.02(b) of the Credit Agreement is amended and restated in full to read as follows: 
 “(b) Neither this Agreement nor any provision hereof nor any Security Instrument securing the payment or performance of the Obligations hereunder, nor any provision thereof may be waived, amended or modified
except pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders or by the Borrower and the Administrative Agent with the consent of the Required Lenders; provided that no such agreement shall (i)

  

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increase the Maximum Credit Amount of any Lender without the written consent of such Lender, (ii) increase the Borrowing Base without the written
consent of each Lender, decrease or maintain the Borrowing Base without the consent of the Required Lenders, or modify in any manner Section 2.07 without the consent of each Lender, (iii) reduce the principal amount of any Loan or Letter
of Credit Disbursement or reduce the rate of interest thereon, or reduce any fees payable hereunder, or reduce any other Obligations hereunder or under any other Loan Document, without the written consent of each Lender affected thereby,
(iv) postpone the scheduled date of payment of the principal amount of any Loan or Letter of Credit Disbursement, or any interest thereon, or any fees payable hereunder, or any other Obligations hereunder or under any other Loan Document, or
reduce the amount of, waive or excuse any such payment, or postpone or extend the Termination Date or the Maturity Date without the written consent of each Lender affected thereby, (v) change Section 4.01(b) or Section 4.01(c) in a
manner that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender, (vi) waive or amend Section 6.01, Section 10.02(c) or Section 8.13 or change the definition of the terms
“Domestic Subsidiary”, “Foreign Subsidiary”, “Material Domestic Subsidiary” or “Subsidiary”, without the written consent of each Lender, (vii) release any Guarantor (except as set forth in the Guarantee
Agreement), release all or substantially all of the collateral (other than as provided in Section 11.09), or reduce the percentage set forth in Section 8.13(a) to less than 85%, without the written consent of each Lender, or
(viii) change any of the provisions of this Section 12.02(b) or the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights
hereunder or under any other Loan Documents or make any determination or grant any consent hereunder or any other Loan Documents, without the written consent of each Lender; provided further that no such agreement shall amend, modify or otherwise
affect the rights or duties of the Administrative Agent, any other Agent, or any Issuer hereunder or under any other Loan Document without the prior written consent of the Administrative Agent, such other Agent or such Issuer, as the case may be.
Notwithstanding the foregoing, any supplement to Schedule 7.14 (Subsidiaries) shall be effective simply by delivering to the Administrative Agent a supplemental schedule clearly marked as such and, upon receipt, the Administrative Agent will
promptly deliver a copy thereof to the Lenders.” 
 SECTION 2. Upfront Fees. In accordance with Section 3.04(d) of the
Credit Agreement, the Borrower agrees to pay to the Administrative Agent, for the account of each Lender, an upfront fee in the amount of 0.25% of each such Lender’s Applicable Percentage of the difference between the New Base Amount and the
Base Amount (as defined in the Credit Agreement). 
 SECTION 3. Representations and Warranties of Borrower. The Borrower represents
and warrants to the Lenders that: 
 (a) The representations and warranties of the Borrower contained in the Credit Agreement, as amended by
this Amendment, are true correct on and as of the date hereof as 

  

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though made on and as of such date (other than any such representations or warranties that, by their terms, refer to a specific date, in which case such
representations and warranties are true and correct as of such specific date). No event has occurred and is continuing, or would result from the effectiveness of this Amendment, that constitutes or would constitute a Default; and 
 (b) The provisions of the Mortgages will be effective to grant to the Administrative Agent, for the ratable benefit of the Lenders, legal, valid and
enforceable mortgage liens on (i) all of the right, title and interest of the Borrower and its Subsidiaries in the mortgaged property to the extent described therein and (ii) at least 85% of the total value of the Proved Developed
Producing Reserves and Proved Developed Nonproducing Reserves evaluated in the Initial Reserve Report. Once such Mortgages have been recorded in the appropriate recording office and all recording taxes have been paid with respect thereto, the
Mortgages will constitute perfected first liens on, and security interest in, such mortgaged property, subject to Excepted Liens. 
 SECTION
4. Conditions to Effectiveness. This Amendment shall become effective as of the date first written above, and it shall be a condition to the effectiveness of this Amendment that: 
 (a) Execution of Counterparts. The Administrative Agent shall have received counterparts of this Amendment, duly executed and delivered on behalf
of the Borrower and the Lenders. 
 (b) Payment of Fees and Expenses. The Borrower shall have paid (i) the fees described in
Section 3.04(d) of the Credit Agreement and (ii) all reasonable expenses (including the reasonable fees and expenses of Pillsbury Winthrop Shaw Pittman LLP) incurred in connection with the preparation, negotiation and execution of this
Amendment and other matters relating to the Loan Documents from and after the last invoice to the extent invoiced. 
 SECTION 5. Reference
to and Effect on Loan Documents. 
 (a) On and after the effective date of this Amendment, each reference in the Credit Agreement to
“this Agreement,” “hereunder,” “hereof,” “herein” or any other expression of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement,”
“thereunder,” “thereof,” “therein” or any other expression of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as amended by this Amendment. 
 (b) Except as specifically amended or waived above, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are
hereby ratified and confirmed. Without limiting the generality of the foregoing, the Security Instruments and all of the Collateral described therein do and shall continue to secure the payment of all obligations stated to be secured thereby under
the Credit Agreement, as amended hereby, and the other Loan Documents. 
 (c) Except as provided in Section 1, the execution, delivery
and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Lenders under any of the Loan Documents or constitute a waiver of any provision of any of the Loan Documents. 
  

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 SECTION 6. Execution in Counterparts. This Amendment may be executed in any number of counterparts
and by the parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
 SECTION 7. Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT
REFERENCE TO THE CHOICE OF LAW PRINCIPLES THEREOF. 
 [Signature pages follow] 
  

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 The parties hereto have caused this Amendment to be executed by their respective duly authorized
representatives as of the date first written above. 
  

			
	CONSTELLATION ENERGY PARTNERS LLC
		
	By:	 	 /s/ Angela Minas

	Name:	 	Angela Minas
	Title:	 	Chief Financial Officer

 SIGNATURE PAGE 1 
 AMENDMENT 
  

			
	THE ROYAL BANK OF SCOTLAND plc, as Administrative Agent, an Issuer and a Lender
		
	 By:
	 	 /s/ Phillip R. Ballard

	 Name:
	 	Phillip R. Ballard
	 Title:
	 	Managing Director

 [RBS signature page to Amendment] 

			
	BNP PARIBAS, as a Co-Syndication Agent and a Lender
		
	 By:
	 	 /s/ Betsy Jocher

	 Name:
	 	Betsy Jocher
	 Title:
	 	Director
		
	 By:
	 	 /s/ Polly Schott

	 Name:
	 	Polly Schott
	 Title:
	 	Vice President

 [BNP Paribas signature page to Amendment] 

			
	WACHOVIA BANK N.A., as a Co-Syndication Agent and a Lender
		
	 By:
	 	 /s/ Phillip Trinder

	 Name:
	 	Phillip Trinder
	 Title:
	 	Director

 [Wachovia signature page to Amendment] 

			
	BANK OF NOVA SCOTIA, as a Lender
		
	By:	 	 /s/ Gregory E. George

	Name:	 	Gregory E. George
	Title:	 	Managing Director

 [Bank of Nova Scotia signature page to Amendment] 

			
	 USB LOAN FINANCE LLC, as a Lender

		
	 By:
	 	 /s/ Mary E. Evans

	 Name:
	 	Mary E. Evans
	 Title:
	 	Associate Director Banking Products Services , US
		
	 By:
	 	 /s/ Iria R. Otsa

		 	Iria R. Otsa
		 	Associate Director Banking Products Services , US

 [UBS Loan Finance signature page to Amendment] 

			
	BANK OF SCOTLAND, as a Lender
		
	By:	 	 /s/ Karen Weich

	Name:	 	Karen Weich
	Title:	 	Vice President

 [Bank of Scotland signature page to Amendment] 

			
	SOCIETE GENERALE, as a Lender
		
	 By:
	 	 /s/ Kevin C. Joyce

	 Name:
	 	Kevin C. Joyce
	 Title:
	 	Vice President

 [Societe Generale signature page to Amendment]Amendment to Employment Agreement between Viacom and Michael D. Fricklas

 Exhibit 10.1 
 [VIACOM LETTERHEAD] 
 March 5, 2007 
 Michael D. Fricklas 
 c/o Viacom Inc. 
 1515 Broadway 
 New York, New York 10036 
 Dear Mr. Fricklas: 
 Reference is made to your
employment agreement with Viacom Inc. (“Viacom”), dated as of May 1, 2000, as amended by letter agreements dated April 1, 2003 and April 12, 2005 (your “Employment Agreement”). All defined terms used without
definitions shall have the meanings provided in your Employment Agreement. 
 This letter, when fully executed below, shall amend your
Employment Agreement as follows: 
 1. Term. Paragraph 1 shall be amended to change the date representing the end of the Term in
the first and second sentences from “January 31, 2008” to “May 31, 2010”. 
 2. Duties. Paragraph 2 shall
be amended to replace the second sentence with the following sentence: 
 “You will be Executive Vice President, General Counsel and
Secretary of Viacom, and you agree to perform all duties reasonable and consistent with that office as may be assigned to you from time to time by the President and Chief Executive Officer (the “CEO”) or, if designated by the CEO, the
Chief Operating Officer, if any.” 
 3. Compensation/Salary. Paragraph 3(a) shall be amended to add after the last
sentence the following sentence: 
 “Commencing March 1, 2007, your Salary will be One Million Dollars ($1,000,000) a year.”

 Michael D. Fricklas 
 March
5, 2007 
  Page
 2
 
  
 4.
Compensation/Bonus Compensation. (a) Paragraph 3(b)(ii) shall be amended to add after the last sentence thereof the following sentence: 
  

	 	“(ii)	Notwithstanding the foregoing with respect to your Target Bonus for calendar year 2007, your Target Bonus for calendar year 2007 shall be One Million Five Hundred Fifty Thousand
Dollars ($1,550,000). Your Bonus may be prorated for any portion of the calendar year that you were employed by Viacom.” 

  

	 	 (b)
	 Paragraph 3(b)(iii) shall be amended to replace the “February 28th” date therein with “March 15th”. 

 5. Compensation/Long-Term Incentive Plans. (a) Paragraph 3(c) shall be
amended to replace paragraph 3(c)(ii) with the following paragraph: 
  

	 	“(ii)	Annual Long-Term Compensation. Beginning with the 2006 calendar year, you will be eligible to receive annual grants of long-term compensation under the LTMIP (as defined
below), as determined by the Viacom Compensation Committee, based on a target value of Three Million Dollars ($3,000,000), determined and modified with respect to 2007 in a manner consistent with Viacom executive officers (excluding the Executive
Chairman, CEO and Senior Executive Vice President, Chief Administrative Officer and Chief Financial Officer) receiving such awards, and determined and modified in subsequent years as reasonably determined by the CEO and, if required, the Viacom
Compensation Committee.” 

  

	 	(b)	Paragraph 3(c) shall be amended by adding a new clause (iii) at the end thereof which reads as follows: 

  

	 	“(iii)	Special RSU Grant. In addition to all other LTMIP compensation for which you are eligible hereunder, on March 15, 2007 (the “Special RSU Grant Date”), you
shall receive a grant under the LTMIP of the number of restricted share units having an aggregate value of $2,500,000 on the Special RSU Grant Date (determined by dividing $2,500,000 by the closing price of a share of the Class B Common Stock during
regular trading on the NYSE on such Special RSU Grant Date), vesting in three equal installments commencing on May 31, 2008, and having such other terms and conditions as the restricted share units with time-vesting previously authorized for
grant to certain employees on May 24, 2006 under the LTMIP.” 

 6. Compensation/Deferred Compensation.
Paragraph 3(d) shall be amended to change the end of the period for which you earn Deferred Compensation in the first sentence from “January 31, 2008” to “February 28, 2007.” 

 Michael D. Fricklas 
 March
5, 2007 
  Page
 3
 
  
 7.
Compensation. Paragraph 3 shall be amended to replace clause (e) with the following: 
  

	 	“(e)	Discretionary Review. The amount of your Salary and Target Bonus will be subject to a discretionary annual merit review on or about January 1, 2008 and January 1,
2009, and may, at that time, be increased but not decreased.” 

 8. Business Expenses. Paragraph 5 shall be
amended by deleting the last sentence thereof. 
 9. Disability. Paragraph 7 shall be amended by adding the following as the
last sentence thereof: 
 “With respect to any performance share units or other equity awards with performance criteria that have been
granted to you under the LTMIP after January 1, 2007 (“PSUs”) for which the applicable performance period for any such award has not ended prior to the date on which benefits commence for you under the LTD program, the number of
shares of Viacom Class B Common Stock to be delivered to you with respect to such PSU award shall be determined based on valuation criteria for such shortened performance period ending on the date on which benefits commence for you under the LTD
program, multiplied by a fraction, the numerator of which is the number of days starting with and inclusive of the first date of the relevant performance period and ending on and inclusive of the date on which benefits commence for you under the LTD
program and the denominator of which is the number of days in the full three-year performance period. Such shares shall be delivered in full settlement of the PSUs in accordance with the LTMIP and the terms and conditions applicable to the PSUs (the
“PSU Terms and Conditions”). Your award will be forfeited in full, and no shares will be delivered if your employment terminates before the end of the performance period for any reason other than as provided in Paragraphs 7, 8(b), 8(c) and
9” 
 10. Termination/Good Reason Termination. Paragraph 8(b) shall be amended to provide that clause (ii) in the
definition of “Good Reason” in the fourth sentence shall read in its entirety as follows: 
  

	 	“(ii)	the withdrawal of material portions of your duties described in paragraph 2 or a change in your reporting relationships such that you do not report directly and solely to the CEO
or, if designated by the CEO, the Chief Operating Officer, if any;” 

 11. Termination/Termination
Payments/Benefits. (a) Paragraph 8(d)(iii) shall be amended to add at the end thereof the following proviso: 

 Michael D. Fricklas 
 March
5, 2007 
  Page
 4
 
  
 “provided
that the total severance payment you receive pursuant to clauses 8(d)(i), 8(d)(ii) and 8(d)(iii) with respect to periods subsequent to the date of such termination shall in no event exceed two times the sum of your Salary and Target Bonus in the
calendar year in which such termination occurs;” 
  

	 	(b)	Paragraph 8(d) shall be amended to delete clause 8(d)(iv). 

  

	 	(c)	Clause 8(d)(viii) shall be amended to change the end of the period for which you earn Deferred Compensation from “January 31, 2008” to “February 28, 2007”.

  

	 	(d)	Paragraph 8(d) shall be amended by adding the following clause (ix) thereto: 

  

	 	“(ix)	With respect to any PSUs for which the applicable performance period for any such award has not ended prior to the date of such termination, the number of shares of Viacom Class B
Common Stock to be delivered to you with respect to such PSU award shall be determined based on valuation criteria for such shortened performance period ending on the date of such termination, multiplied by a fraction, the numerator of which is the
number of days starting with and inclusive of the first date of the relevant performance period and ending on and inclusive of the date of such termination and the denominator of which is the number of days in the full three-year performance period.
Such shares shall be delivered in full settlement of the PSUs in accordance with the PSU Terms and Conditions. Your award will be forfeited in full, and no shares will be delivered if your employment terminates before the end of the performance
period for any reason other than as provided in Paragraphs 7, 8(b), 8(c) and 9” 

 12. Non-Renewal. In
consideration of the reduction of your salary reflected in the amendment to Paragraph 3(a) above, Paragraph 8(e) shall be amended by replacing in each of clauses (i) and (ii) the phrase “your then-current Salary” with the phrase
“1.5 times your then-current Salary”. 
 13. Termination of Benefits. Paragraph 8(f) shall be amended by adding to
the last sentence thereof the following words “and paragraph 8(d)(ix)”. 
 14. Death. Paragraph 9 shall be amended by
adding the following as the last sentence thereof: 
 “With respect to any PSUs for which the applicable performance period for any such
award has not ended prior to the date of your death, the number of shares of Viacom Class B Common Stock to be delivered to you with respect to such PSU award shall be determined based on valuation criteria for such shortened performance period
ending on the date of your death, multiplied by a fraction, the numerator of which is the number of days starting with and inclusive of the first date of the relevant 

 Michael D. Fricklas 
 March
5, 2007 
  Page
 5
 
  
 performance
period and ending on and inclusive of the date of your death and the denominator of which is the number of days in the full three-year performance period. Such shares shall be delivered in full settlement of the PSUs in accordance with the PSU Terms
and Conditions. Your award will be forfeited in full, and no shares will be delivered if your employment terminates before the end of the performance period for any reason other than as provided in Paragraphs 7, 8(b), 8(c) and 9” 
 15. Miscellaneous. Paragraph 20 shall be amended by replacing it in its entirety with the following: 
 “20. Deductions and Withholdings, Payment of Deferred Compensation, Section 409A. 
  

	 	(a)	All amounts payable under this Agreement shall be paid less deductions and income and payroll tax withholdings as may be required under applicable law and any benefits and
perquisites provided to you under this Agreement shall be taxable to you as may be required under applicable law. 

  

	 	(b)	Notwithstanding any other provision of this Agreement, any payment or settlement triggered by termination of your employment with Viacom shall not be made until six months and one
day following your termination date if such delay is necessary to avoid the imposition of any tax, penalty or interest under Section 409A of the Internal Revenue Code of 1986, as amended. Viacom, after consulting with you, may amend this
Agreement or the terms of any award provided for herein in any manner that Viacom considers necessary or advisable to ensure that cash compensation, equity awards or other benefits provided for herein are not subject to United States federal income
tax, state or local income tax or any equivalent taxes in territories outside the United States prior to payment, exercise, vesting or settlement, as applicable, or any tax, interest or penalties pursuant to Section 409A. Any such amendments
shall be made in a manner that preserves to the maximum extent possible the intended benefits to you. This paragraph 20(b) does not create an obligation on the part of Viacom to modify this Agreement and does not guarantee that the amounts or
benefits owed under the Agreement will not be subject to interest and penalties under Section 409A. 

 Except as herein
amended, all other terms and conditions of your Employment Agreement shall remain the same and your Employment Agreement, as herein amended, shall remain in full force and effect. 

 Michael D. Fricklas 
 March
5, 2007 
  Page
 6
 
  
 If the foregoing
correctly sets forth our understanding, please sign, date and return all three (3) copies of this letter agreement to the undersigned for execution on behalf of Viacom; after this letter agreement has been executed by Viacom and a fully
executed copy returned to you, it shall constitute a binding amendment to your Employment Agreement. 
  

			
	Very truly yours,
	
	VIACOM INC.
		
	By:	 	 /s/ JoAnne Adams Griffith

	Name:	 	JoAnne Adams Griffith
	Title:	 	Executive Vice President, Human Resources

  

	
	ACCEPTED AND AGREED:
	
	 /s/ Michael D. Fricklas

	Michael D. Fricklas
	
	Dated: March 5, 2007

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