exhibit1015pikextensionl






                                                                    Exhibit 10.15                                   November 14, 2019    Ascribe Capital LLC                             Solace Capital Partners LP   ATTN: Lawrence First                            ATTN: Brett Wyard   299 Park Avenue                                 11111 Santa Monica Blvd.   34th Floor                                      Suite 1275   New York, NY 10171                              Los Angeles, CA 90025   lfirst@ascribecapital.com                       bwyard@solacecap.com                            Extension and Deferral Agreement   Gentlemen,    As discussed via phone and email correspondence, each of Ascribe Capital LLC (“Ascribe”) and   Solace Capital Partners LP (“Solace”), on behalf of each of their funds that is a holder of PIK   Notes issued under that certain indenture dated March 4, 2019 by and between Forbes Energy   Services Ltd. (“Forbes”) and Wilmington Trust, National Association, as trustee, by its signature   to this letter agrees to and confirms the following with respect to such PIK Notes.        Each of Ascribe and Solace hereby agrees to extend the maturity date under the indenture to   November 30, 2020 of those PIK Notes (the “Excess PIK Notes”) for which there are not at June   30, 2020 sufficient authorized shares of common stock of Forbes to effect the mandatory   conversion of the Excess PIK Notes after giving effect to the conversion of PIK Notes held by   other holders of PIK Notes who have not agreed to a maturity date extension or conversion   deferral.  Each of Ascribe and Solace also hereby agrees to defer the mandatory conversion  feature under the indenture for such Excess PIK Notes as it relates to such Excess PIK Notes   until after the stockholders of Forbes have authorized sufficient additional shares of Forbes   common stock to permit such conversion.  Each of Ascribe and Solace will reflect this agreement   in appropriate documentation of a necessary waiver, amendment and/or supplement by the end of   2019, or as soon thereafter as reasonably practicable.  Each of Ascribe and Solace acknowledges   that the extension of the maturity date and deferral of the conversion will not be binding on any   other holder of PIK Notes unless such other holder also agrees to such provisions.     By signing on behalf of Ascribe or Solace, respectively, each undersigned confirms that he has   the requisite power to bind Ascribe or Solace, respectively, and such related funds.                                        Sincerely,                                        Forbes Energy Services, Ltd.                                        By: ___________________________                                      L. Melvin Cooper, Senior Vice President                                     and Chief Financial Officer                                 P.O. Box 2108, Alice Texas 78333                               361.664.0549 tel   361.664.0599 fax 





 






 Page 2 of 2                                                                                                                                                                Ascribe Capital LLC                             Solace Capital Partners LP         By: ___________________________                 By: __________________________   Lawrence First, Chief Investment Officer       Brett Wyard, Managing Partner  & Managing Director                                                                                                                                  [Signature Page to November 14, 2019 Extension and Deferral Agreement]                                                                                                                                                                      P.O. Box 2108, Alice Texas 78333                               361.664.0549 tel   361.664.0599 fax