Fx Energy Inc Watch

from 8-K 45 pages Fx Energy Poland Sp. Z O.O as Borrower Bnp Paribas (Suisse) SA as Agent Bnp Paribas (Suisse) SA as Security Trustee Bnp Paribas SA and Ing Bank N.V. as Hedging Banks the Senior Lenders and the Subordinated Lenders Intercreditor Deed

from 8-K 42 pages C L I F F O R D C H a N C E Clifford Chance Llp

from 8-K 44 pages Contents Clause Page 1. Definitions and Interpretation 1 2. Ranking and Priority 7 3. Senior Lenders: Rights and Obligations 8 4. Subordinated Lenders: Rights and Obligations 8 5. Hedging Banks: Rights and Obligations 9 6. Permitted Payments 11 7. Entitlement to Enforce 11 8. Effect of Insolvency Event 12 9. Turnover of Receipts 13 10. Sharing 14 11. Enforcement of Security 15 12. Disposals by Security Trustee 16 13. Application of Proceeds 16 14. the Security Trustee 18 15. Change of Security Trustee and Delegation 24 16. Change of Party 26 17. Fees and Expenses 27 18. Indemnities 28 19. Information 29 20. Notices 29 21. Preservation 31 22. Counterparts 32 23. Governing Law 32 24. Enforcement 33 Schedule 1 Form of Obligor Accession Deed 34 Schedule 2 Form of Intercreditor Accession Deed 36 Uk-2474912-V6a 70-40474932 This Agreement Is Dated 5 August 2010 and Made Between: (1) Fx Energy Poland Sp. Z O.O as Borrower; (2) Fx Energy, Inc. as Original Guarantor; (3) Fx Drilling Company, Inc. and Frontier Exploration Company in Their Capacity as General Partners of Fx Energy Netherlands Partnership C.V. as Original Guarantor; (4) Fx Energy Netherlands B.V. as Original Guarantor; (5) the Royal Bank of Scotland PLC as Agent Under the Senior Facility Agreement (The “Agent”); (6) the Royal Bank of Scotland PLC as Trustee for the Secured Parties (The “Security Trustee”); (7) the Financial Institutions Named on the Signing Pages as Senior Lenders (The “Senior Lenders”); (8) the Entities Named on the Signing Pages as Subordinated Lenders (The “Subordinated Lenders”); and (9) the Entities Named on the Signing Pages as Group Subordinated Lenders (The “Group Subordinated Lenders”) It Is Agreed as Follows: 1. Definitions and Interpretation

from 8-K 2 pages Fx Energy Updates Status of Credit Facility; Liquidity Position Enhanced

from 10KSB 1 page Addendum to Employment Agreement This Addendum to Employment Agreement Is Made and Entered Into Effective the 12th Day of May, 1997, by and Between Fx Energy, Inc., a Nevada Corporation ("Employer"), and Jerzy B. Maciolek ("Employee"), Based on the Following: Premises Employer and Executive Entered Into That Certain Employment Agreement Dated July 11, 1996 (The "Agreement"). the Board of Directors and Compensation Committee of the Employer Have Approved That, in Addition to the Compensation and Benefits Provided Under the Agreement, in Consideration of the Continued Employment of Employee by Employer, the Employer Will Provide an Annual Bonus of $100,000 in the Form of a Credit That May Be Used to Exercise Any Options for the Purchase of Employer's Common Stock Held by Employee. Agreement Now, Therefore, Based on the Foregoing Premises and for and in Consideration of the Mutual Promises and Covenants Contained Herein, It Is Hereby Agreed as Follows: 1. Subparagraph (I) of Section 5 Shall Be Added to the Agreement as Follows: On Each of May 12, 1998, 1999, and 2000, Employer Shall Grant to Employee a Bonus in the Form of a $100,000 Credit That May Be Applied by Employee at Such Time and in Such Amounts as Employee May Determine, Against the Exercise of Employee's Options to Purchase Common Stock of Employer. 2. Except as Modified Herein, the Agreement Is Hereby Ratified and Shall Remain in Full Force and Effect as Provided Therein. Dated Year and Date First Above Written. Employer: Fx Energy, Inc. by /S/ Andrew W. Pierce Employee: /S/ Jerzy B. Maciolek 2

from S-1/A ~5 pages Amend. No. 3 to Loan Agreement Dated June 7, 1994