Exhibit 10.2

July 15, 2016

FROM: The Agent and the Required Lenders

 

TO: C&J Energy Services Ltd. and the undersigned Loan Parties

3990 Rogerdale

Houston, TX 77042

Attn: Danielle Hunter

 

Re: Amendment and Extension of Forbearance Period Under Second Forbearance

Ladies and Gentlemen:

This letter agreement (this “Agreement”) is made with respect to that certain
Second Forbearance Agreement, dated as of June 30, 2016, entered into by and
between C&J Energy Services Ltd. (“Parent”), CJ Lux Holdings S.à r.l., a
Luxembourg private limited liability company (société à responsabilité limitée),
having its registered office at 15, rue Edward Steichen, L-2540 Luxembourg,
having a share capital of $2,000,000 and registered with the Luxembourg Register
of Commerce and Companies under number B190.857 (“Luxembourg Borrower”), CJ
Holding Co. (“U.S. Borrower” and, together with Parent and Luxembourg Borrower,
the “Borrowers”), certain other Loan Parties identified on the signature pages
thereto, Cortland Capital Market Services LLC, in its capacity as successor
Administrative Agent to Bank of America, N.A. under the Credit Agreement (as
defined herein) (in such capacity, the “Agent”) and the lenders appearing on the
signature pages thereto (as amended, modified, supplemented or replaced from
time to time, the “Second Forbearance”).1

Pursuant to Section 3(b) of the Second Forbearance, the Forbearance Period shall
terminate immediately and automatically upon the earliest to occur of (i) July
17, 2016, at 11:59 p.m. New York time and (ii) the occurrence of a Forbearance
Termination Event.

The Loan Parties, the Agent and the Required Lenders desire to enter into this
Agreement to extend the date by which the Forbearance Period shall terminate to
the earliest of (i) July 20, 2016 at 11:59 p.m. New York time and (ii) the
occurrence of a Forbearance Termination Event.

Now, therefore, in consideration of the mutual agreements contained herein and
other good and valuable consideration, the sufficiency and receipt of which are
hereby acknowledged, and subject to the conditions set forth herein, the parties
hereto hereby agree that Section 3(b) of the Second Forbearance shall be amended
to replace the words “July 17, 2016, at 11:59 p.m. New York time” with “July 20,
2016 at 11:59 p.m. New York time”.

Except as otherwise provided herein, all of the terms of the First Limited
Waiver, First Forbearance and Second Forbearance shall continue in full force
and effect. This Agreement shall be deemed to be a Loan Document.

 

 

1  Capitalized terms used in this Agreement and not defined herein shall have
the meanings ascribed thereto in the Second Forbearance.

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This Agreement may be executed in multiple counterparts. It shall not be
necessary that the signature of, or on behalf of, each party, or that the
signature of all persons required to bind any party, appear on each
counterpart. All counterparts shall collectively constitute a single
document. Any signature page to any counterpart may be detached from such
counterpart without impairing the legal effect of the signatures thereon and
thereafter attached to another counterpart identical thereto except having
attached to it additional signature pages.

Please acknowledge your agreement with the terms hereof by executing this
Agreement in the spaces provided below.

[Remainder of page intentionally left blank]

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Very truly yours, CORTLAND CAPITAL MARKET SERVICES LLC, as Agent and on behalf
of the Consenting Lenders By:  

/s/ Polina Arsentyeva

Name:   Polina Arsentyeva Title:   Associate Counsel

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Acknowledged and Agreed: C&J ENERGY PRODUCTION SERVICES-CANADA LTD. (formerly
Nabors Production Services Ltd.) C&J ENERGY SERVICES LTD. C&J ENERGY SERVICES,
INC. C&J SPEC-RENT SERVICES, INC. C&J WELL SERVICES, INC. (formerly Nabors
Completion & Production Services Co.) CJ HOLDING CO. By:  

/s/ Danielle Hunter

  Name:   Danielle Hunter   Title:   Executive Vice President, General Counsel,
Chief Risk Officer BLUE RIBBON TECHNOLOGY, INC. C&J VLC, LLC KVS TRANSPORTATION,
INC. MOBILE DATA TECHNOLOGIES LTD. TOTAL E&S, INC. By:  

/s/ Danielle Hunter

  Name:   Danielle Hunter   Title:   Executive Vice President, General Counsel,
Chief Risk Officer ESP COMPLETION TECHNOLOGIES LLC TELLUS OILFIELD INC. TIGER
CASED HOLE SERVICES, INC. By:  

/s/ Danielle Hunter

  Name:   Danielle Hunter   Title:   Executive Vice President, General Counsel,
Chief Risk Officer

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C&J CORPORATE SERVICES (BERMUDA) LTD. By:  

/s/ Danielle Hunter

  Name:   Danielle Hunter   Title:   Director CJ LUX HOLDINGS S.À R.L. PENNY
GLOBAL HOLDINGS S.À R.L. PENNY GLOBAL LEASING S.À R.L. PENNY LUXEMBOURG
FINANCING S.À R.L. PENNY TECHNOLOGIES S.À R.L. By:  

/s/ Danielle Hunter

  Name:   Danielle Hunter   Title:   Type A Manager   COPPER IRELAND FINANCING I
LTD.   COPPER IRELAND FINANCING II LTD. By:  

/s/ Danielle Hunter

  Name:   Danielle Hunter   Title:   Director   C&J INTERNATIONAL B.V. By:  

/s/ Danielle Hunter

  Name:   Danielle Hunter   Title:   Managing Director A   C&J INTERNATIONAL
MIDDLE EAST FZCO By:  

/s/ Angus Fraser

  Name:   Angus Fraser   Title:   General Manager