EX-10.7





					
		 		  	 EXHIBIT 10.7

 

		 	




		 		  	  
 Expro Group Holdings, N.V.

1311 Broadfield Boulevard, Ste 400
 Houston, Texas
77084

			
		 		  	Tel: +1 713 463 9776
			
		 		  	exprogroup.com

 September 20, 2021 
 Steve
Russell 
 Dear Steve: 
 We are pleased to extend an offer of
employment to you for the position of Chief Technology Officer of Expro Group Holdings, N.V., a limited liability company organized under the laws of the Netherlands (the “Company”) and of Frank’s International, LLC, a
Texas limited liability company (the “Employer”). Your employment is subject to the terms and conditions set forth in this letter. All benefits described in this letter are subject to and controlled by the applicable plans
for such benefits and any terms and conditions stated in such plans. 
 Duties 

In your capacity as Chief Technology Officer, you will perform duties and responsibilities that are commensurate with your position and such other duties as
may be assigned to you from time to time. You will be a member of the Executive Management Team. You agree to devote your full business time, attention, and best efforts to the performance of your duties and to the furtherance of the Company’s
and the Employer’s interests. Notwithstanding the foregoing, nothing in this letter shall preclude you from devoting reasonable periods of time to charitable and community activities, managing personal investment assets and, subject to Board
approval (which will not be unreasonably withheld), serving on boards of other companies (public or private) not in competition with the Company or the Employer, provided that none of these activities interferes with the performance of your duties
hereunder or creates a conflict of interest. 
 Location 

Your principal place of employment shall be at our U.S. headquarters in Houston, Texas, subject to business travel as needed to properly fulfill your
employment duties and responsibilities. 
 Transition Date 

Subject to satisfaction of all of the conditions described in this letter, your anticipated transition date is October 1, 2021. 

Base Salary 
 In consideration of your services,
you will be paid an initial base salary of $425,000 on an annualized basis, subject to periodic review and payable in accordance with the standard payroll practices of the Employer, subject to all withholdings and deductions as required by law. 

Annual Bonus 
 During your employment, you will be
eligible to participate in the Employer’s annual short-term incentive program, which shall provide you with an opportunity to receive an annual, calendar-year bonus, based on corporate and individual performance criteria as may be determined by
the Employer. It is expected that your target bonus opportunity will be 100% of your base salary. You must remain continuously employed through the bonus payment date to be eligible to receive an annual bonus payment for a calendar year. Your bonus
opportunity for the 2021 calendar year will be calculated separately for the period prior to your transition date and for the period after your transition date. 
  





 











 



 
 Equity Grants 

During your employment, you will be eligible to receive annual grants of equity-based incentive awards under the Company’s Long-Term Incentive Plan
(“LTIP”), based on annual equity allocations determined by the Board (or a designated committee thereof) in its sole discretion. In addition to the above-referenced LTIP awards, concurrent with your transition date, you will
receive an initial LTIP award with grant date target value of approximately $975,000 (the “Initial LTIP Award”). It is expected that the Initial LTIP Award will be allocated among time based restricted stock units
(60%) and performance based restricted stock units (40%), in each cased generally subject to your continued service through the relevant vesting dates, and the terms and conditions of the relevant award agreements. You may review the applicable plan
and grant agreement for more information on the terms and conditions which apply. 
 Benefits and Perquisites 

You will be eligible to participate in the employee benefit plans and programs generally available to other comparable employees of the Employer, including but
not limited to group medical, dental, vision, and life insurance, disability benefits, retirement plans, an employee stock purchase plan, an executive severance plan, and a
change-in-control severance plan, in each case subject to the terms and conditions of such plans and programs. You will be entitled to four weeks of paid vacation
annually. You will also be entitled to the fringe benefits and perquisites that are made available to other comparable employees of the Employer, each in accordance with and subject to the eligibility and other provisions of such plans and programs.
The Company and the Employer reserve the right to amend, modify, or terminate any benefit plans or programs at any time and for any reason. 
 Stock
Ownership Guidelines 
 In your position with the Company, you will be required to comply with the Company’s Stock Ownership Guidelines
applicable to members of the Board, officers and other senior leadership. A copy of these guidelines has been enclosed for your reference. 
 At-Will Employment 
 Your employment with the Employer will be for no specific period of time. Rather, your
employment will be at-will, meaning that you or the Employer may terminate the employment relationship at any time, with or without cause, and with or without notice and for any reason or no particular reason.
Although your compensation and benefits may change from time to time, the at-will nature of your employment may only be changed by an express written agreement signed by an authorized officer of the Employer.

 Severance Plans and Participation Agreements 

The Company maintains an Executive Retention & Severance Plan and an Executive
Change-in-Control Severance Plan for officers and other key personnel in the event that the Company is acquired. The provisions of these plans are set forth in the Plan
documents and the related Participation Agreements and will be the same as those terms currently in effect for other officers of the Company, which require that the executive agree to certain restrictive covenants (including a non-compete) for the period of employment with the Employer and ending one year following termination of employment. A copy of the applicable plans and participation agreements have been enclosed for your review.

 Governing Law 
 This offer letter shall be
governed by the laws of Texas, without regard to conflict of law principles. 
  
 



 











 



 
 Thank you for your service to the Company. I look forward to your continued success. If you have any questions about the
above details, please call me immediately. If this Offer Letter correctly sets forth the terms of our agreement, please sign and return this Offer Letter, whereupon it shall become our binding agreement. We would appreciate a written response no
later than September 27, 2021. If you do not accept the offer by this date, the offer will expire. 
 We look forward to hearing from you. 

 

	
	Sincerely,
	
	/s/ Mike Jardon
	Mike Jardon
	Chief Executive Officer

 Acceptance of Offer 
 I
have read, understood and accept all the terms of the offer of employment as set forth in the foregoing letter. I have not relied on any agreements or representations, express or implied that are not set forth expressly in the foregoing letter, and
this letter supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to the subject matter of this letter. 

This offer does not change any existing confidentiality, non-competition, or
non-solicitation obligations under any agreement or law. 
  

					
			
	/s/ Steve Russell	 		 	September 30, 2021
	Steve Russell	 		 	DATE