On January 29, 2018, Ultra Petroleum Corp. announced that it has entered into an agreement with Fir Tree Capital Management LP regarding the membership and composition of the Company’s board of directors and related matters. The Company stated that pursuant to the agreement, the Company would appoint Evan Lederman, a Fir Tree investment professional, to the Board to fill the vacancy resulting from W. Charles Helton’s resignation from the Board. The Company also stated that it would appoint an independent director to the Board to fill the vacancy resulting from Roger A. Brown’s resignation from the Board. In addition, the Company stated that it has agreed that Fir Tree would have the right to recommend 3 to 5 candidates to serve as the independent Director, who must meet certain criteria as set forth in the agreement, and that Fir Tree and the Board would work together to select a mutually agreeable, qualified person from such candidates to serve as the independent Director.