SEC Contract Filing

Filing Date: 2020-04-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex101-firstamendmenttovoti.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="sC4863B9A7C7182829DBCACEE128BCD48"></a></div><div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.1</font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">FIRST AMENDMENT TO THE VOTING AGREEMENT</font></div><div style="line-height:120%;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">This First Amendment to the Voting Agreement (this &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:11pt;">&#8221;) is dated as of April 22, 2020, by and among Earthstone Energy, Inc., a Delaware corporation (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Earthstone</font><font style="font-family:inherit;font-size:11pt;">&#8221;), EnCap Investments L.P., a Delaware limited partnership (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">EnCap</font><font style="font-family:inherit;font-size:11pt;">&#8221;), and Bold Energy Holdings, LLC, a Texas limited liability company (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Bold</font><font style="font-family:inherit;font-size:11pt;">&#8221; and, together with EnCap, the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Stockholders</font><font style="font-family:inherit;font-size:11pt;">&#8221;), and amends that certain Voting Agreement dated as of May 9, 2017, among Earthstone, EnCap, Bold and Oak Valley Resources, LLC (&#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">OVR</font><font style="font-family:inherit;font-size:11pt;">&#8221;) (the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Voting Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;).&#160;&#160;Capitalized terms used and not otherwise defined in this Amendment shall have the respective meanings set forth in the Voting Agreement. Earthstone, EnCap and Bold are sometimes referred to herein individually as a &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Party</font><font style="font-family:inherit;font-size:11pt;">&#8221; and, collectively, as the &#8220;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Parties</font><font style="font-family:inherit;font-size:11pt;">.&#8221;</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, OVR was dissolved in June 2017; and</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Parties desire to modify the Voting Agreement on the terms herein; and</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Voting Agreement provides that EnCap may designate four directors to the board of directors of Earthstone; and</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, Douglas E. Swanson, Jr., one of the EnCap Designated Directors, has notified Earthstone that he will not seek re-election as a director of Earthstone at the 2020 annual meeting of stockholders of Earthstone to be held in June 2020; and</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, EnCap does not desire to name a replacement for Mr. Swanson at this time; and </font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Parties have agreed that the number of dire