SEC Contract Filing

Filing Date: 2017-01-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>10
<FILENAME>v456353_ex10-7.htm
<DESCRIPTION>EXHIBIT 10.7
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.7</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Execution Version</I></B></P>

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<P STYLE="margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>INDEMNIFICATION AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Indemnification
Agreement (&ldquo;<U>Agreement</U>&rdquo;) is made as of December&nbsp;30,&nbsp;2016, by and between Energy XXI Gulf Coast, Inc.,
a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&ldquo;<U>Indemnitee</U>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-weight: normal"><U>RECITALS:</U></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, directors,
officers and other persons in service to corporations or business enterprises are subjected to expensive and time-consuming litigation
relating to, among other things, matters that traditionally would have been brought only against the Company or business enterprise
itself;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, highly competent
persons have become more reluctant to serve as directors, officers or in other capacities unless they are provided with adequate
protection through insurance and adequate indemnification against inordinate risks of claims and actions against them arising out
of their service to and activities on behalf of the corporation;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Board
of Directors of the Company (the &ldquo;<U>Board</U>&rdquo;) has determined that the increased difficulty in attracting and retaining
such persons is detrimental to the best interests of the Company and its stockholders and that the Company should act to assure
such persons that there will be increased certainty of such protection in the future;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, (i)&nbsp;the
Second Amended and Restated Certificate of Incorporation of the Company (as may be amended, the &ldquo;<U>Certificate of Incorporation</U>&rdquo;)
and the Second Amended and Restated Bylaws of the Company (as may be amended, the &ldquo;<U>Bylaws</U>&rdquo;) require indemnification
of the officers and directors of the Company, (ii)&nbsp;Indemnitee may also be entitled to indemnification pursuant to the General
Corporation Law of the State of Delaware (&ldquo;<U>DGCL</U>&rdquo;) and (iii)&nbsp;the Certificate of Incorporation, Bylaws and
the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive and thereby contemplate that
contracts may be entered into between the Company and members of the Board, officers and other persons with respect to indemnification;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, this Agreement
is a supplement to and in furtherance of the Certificate of Incorporation, the Bylaws and any resolutions adopted pursuant thereto,
and shall not be deemed a substitute therefor or to diminish or abrogate any rights of Indemnitee thereunder; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, (i)&nbsp;Indemnitee
does not regard the protection available under the Certificate of Incorporation, the Bylaws and insurance as adequate in the present
circumstances, (ii)&nbsp;Indemnitee may not be willing to serve or continue to serve as a director or officer of the Company without
adequat