On March 14, 2017, Eugene I. Davis, a director of Goodrich Petroleum Corporation notified the company of his intention to resign from his position on the Board of Directors of the company, effective as of March 14, 2017. Under the company's Second Amended and Restated Certificate of Incorporation (the Certificate of Incorporation), the holders (the Warrant Holders) of a majority of the company's outstanding warrants issued pursuant to the company's First Amended Joint Plan of Reorganization (the Plan) to the New 2L Notes Purchasers pursuant to that certain Warrant Agreement, dated as of October 12, 2016, by and between the company and American Stock Transfer & Trust Company, LLC, are entitled to designate two nominees to serve as the Class I directors on the Board and to fill any vacancy created by the resignation of a Class I director so long as the Warrant Holders are entitled to designate director nominees under the Certificate of Incorporation as of the date of such replacement designation. In accordance with the Certificate of Incorporation, the Warrant Holders have designated Steven J. Pully to replace Mr. Davis as a Class I director and the Board has appointed Mr. Pully effective March 15, 2017. Mr. Pully will also serve as a member of the Audit Committee. Mr. Pully provides consulting and investment banking services for companies and investors focused on the oil and gas sector. From 2008 until 2014, Mr. Pully served as General Counsel and a Partner of the investment firm Carlson Capital, L.P.