Exhibit 10.1

AMENDMENT NO. 3 TO THE FORBEARANCE AGREEMENT

THIS AMENDMENT NO. 3 (this “Amendment”), dated as of November 15, 2016, to the
Forbearance Agreement dated July 15, 2016, as amended by Amendment No. 1 to the
Forbearance Agreement, dated September 13, 2016 and Amendment No. 2 to the
Forbearance Agreement, dated October 14, 2016 (the “Forbearance Agreement”), by
and among (1) FORBES ENERGY SERVICES LTD, a Texas corporation (the “Issuer”), as
issuer of the 9% Senior Notes due 2019 (the “Notes”) issued pursuant to that
certain indenture dated as of June 7, 2011 (the “Indenture”) by and among the
Issuer, the Guarantors (as defined below) and Wells Fargo Bank, National
Association, as trustee (the “Trustee”), (2) the following affiliates of the
Issuer: FORBES ENERGY SERVICES LLC, a limited liability company formed under the
laws of the State of Delaware (“Energy Services”), TX ENERGY SERVICES, LLC, a
limited liability company formed under the laws of the State of Delaware (“TX
Energy”), C.C. FORBES, LLC, a limited liability company formed under the laws of
the State of Delaware (“C.C.”), and FORBES ENERGY INTERNATIONAL, LLC, a limited
liability company formed under the laws of the State of Delaware
(“International”; and together with Energy Services, TX Energy, and C.C., each a
“Guarantor” and collectively, the “Guarantors”), and, together with the Issuer,
the “Obligor Parties”) and (3) certain beneficial holders of the Notes that are
party hereto (the “Forbearing Holders”). Capitalized terms used but not
otherwise defined herein shall have the meaning ascribed to them in the
Forbearance Agreement.

WHEREAS, the Obligor Parties and the Forbearing Holders desire to amend the
Forbearance Agreement as set forth in this Amendment.

NOW, THEREFORE, in consideration of the premises and the mutual covenants herein
contained, the receipt and sufficiency of which are severally acknowledged, the
parties hereto, intending to be legally bound hereby, agree as follows:

1. Definition of Forbearance Termination Date: Section 1(a) of the Forbearance
Agreement with respect to the definition of the “Forbearance Termination Date”
is hereby amended and restated in its entirety as follows:

“Forbearance Termination Date” shall mean the sooner to occur of (a) 11:59
o’clock p.m. Central Standard Time on November 30, 2016 and (b) the date on
which the agreement to forbear terminates as provided in Section 4 of this
Agreement.”

2. Forbearance Conditions: Section 3(b) of the Forbearance Agreement is hereby
amended and restated as follows:

(i) delete “and” at the end of Section 3(b)(vii);

(ii) add “and” at the end of Section 3(b)(viii); and

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(iii) add the following new Section 3(b)(ix).

“Termination of the agreement to forbear pursuant to that certain Forbearance
Agreement and Fourth Amendment to Loan and Security Agreement dated July 15,
2016, by and among Forbes Energy Services, TX Energy Services, C.C. Forbes, LLC,
Superior Tubing Testers, LLC and Forbes Energy International, LLC and Regions
Bank, as amended.”

3. Condition Precedent to Effectiveness of Amendment: It shall be a condition
precedent to the effectiveness of this Amendment that REGIONS BANK, an Alabama
bank organized under the laws of the State of Alabama, has entered into that
certain First Amendment to Forbearance Agreement and Fourth Amendment to Loan
and Security Agreement, which agreement changes the definition of Forbearance
Termination Date to:

“‘Forbearance Termination Date’ shall mean the sooner to occur of (a) 5:01
o'clock p.m. on December 28, 2016 and (b) the date on which the agreement to
forbear terminates as provided in Section 4 of this Agreement.”

4. No Other Amendment: Except as expressly set forth herein, this Amendment
shall not by implication or otherwise alter, modify, amend or in any way affect
any of the terms, conditions, obligations, covenants or agreements contained in
the Forbearance Agreement, all of which are ratified and affirmed in all
respects and shall continue in full force and effect.

[Remainder of page intentionally left blank]

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IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment to be
duly executed and delivered on the date first written above.

 
 
ISSUER:

 
 
FORBES ENERGY SERVICES LTD
 
 
 
 
 
By:___________________________________
 
 
Name: _____________________________
 
 
Title:_______________________________
 
 
 
 
 
 
GUARANTORS:

FORBES ENERGY SERVICES, LLC
 
 
 
 
 
By:___________________________________
 
 
Name: _____________________________
 
 
Title:_______________________________
 
 
 
 
 
TX ENERGY SERVICES, LLC
 
 
 
 
 
By:___________________________________
 
 
Name: _____________________________
 
 
Title:_______________________________
 
 
 
 
 
C. C. FORBES, LLC
 
 
 
 
 
By:___________________________________
 
 
Name: _____________________________
 
 
Title:_______________________________
 
 
 
 
 
FORBES ENERGY INTERNATIONAL, LLC
 
 
 
 
 
By:___________________________________
 
 
Name: _____________________________
 
 
Title:_______________________________

 
 
 

[Signature Page to Amendment No. 3 to Forbearance Agreement (Forbes Energy
Services)]

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HOLDERS:
 
 
 
 
 
 
 
 
 
 
 
By:___________________________________
 
 
Name: _____________________________
 
 
Title:_______________________________
 
 
 
 
 
 
 
 
 
 
 
 
 
 
By:___________________________________
 
 
Name: _____________________________
 
 
Title:_______________________________
 
 
 
 
 
 
 
 
 
 
 
 
 
 
By:___________________________________
 
 
Name: _____________________________
 
 
Title:_______________________________
 
 
 
 
 
 
 
 
 
 
 
 
 
 
By:___________________________________
 
 
Name: _____________________________
 
 
Title:_______________________________
 
 
 
 
 
 
 
 
 
 
 
 
 
 
By:___________________________________
 
 
Name: _____________________________
 
 
Title:_______________________________

 

[Signature Page to Amendment No. 3 to Forbearance Agreement (Forbes Energy
Services)]