Exhibit 10.7


 


	
	 
	Baker Hughes Incorporated


 


	 	2929 Allen Parkway, Suite 2100 
	 	Houston, TX 77019-2118 
	 	Direct: 713-439-8600 
	 	Fax: 713-439-8699 
	 	www.bakerhughes.com
	 	 
	 	Dawn Fuller
	 	Legal Secretary 
	 	Global Real Estate
	 	Direct: 713-439-8019 
	 	Fax: 713-439-8558
	 	Dawn.Fuller@bakerhughes.com


 


August 15, 2013


 


VIA FEDERAL EXPRESS


 


Mrs. Annette Meier


Meier Properties Series, LLC


2221 N. 3250 West


Vernal, Utah 84078


 


		Re:	1540 South 1700 East Circle Street, Naples, Utah



 


Dear Mrs. Meier:


 


Enclosed please
find one (1) fully-executed First Amendment to Lease Agreement between Meier Properties Series, LLC, as lessor, and Baker Hughes
Oilfield Operations, Inc., as lessee, covering the lease at 1540 South 1700 East Circle Street, Naples, Utah.


 


Please contact
George Bernhardt, at 713-439-8061, if you have any questions or concerns.


 


	 	Sincerely,
	 	 
	 	/s/ Dawn M. Fuller
	 	Dawn M. Fuller,
	 	Legal Secretary to George Bernhardt 

    Managing Counsel – Global Real Estate


 


Enclosure


 




    	 



    	 



    

 


IN WITNESS WHEREOF, the parties have executed
this Amendment effective as of the Effective Date.


 


	 	LESSOR:	 
	 	 	 
	 	 	MEIER PROPERTIES SERIES, LLC
	 	 	 
	 	 	By:	/s/ Annette Meier
	 	 	Name:	Annette Meier
	 	 	Title:	Managing Member
	 	 	 
	 	LESSEE:	 
	 	 	 
	 	 	BAKER HUGHES OILFIELD OPERATIONS, INC.,
	 	 	a California corporation
	 	 	 
	 	 	By:	/s/ David E. Emerson
	 	 	Name:	David E. Emerson
	 	 	Title:	Vice President


 




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FIRST AMENDMENT TO LEASE AGREEMENT


 


	STATE OF UTAH	§
	 	§
	COUNTY OF UINTAH	§


 


This First Amendment
to Lease Agreement (this “Amendment”) is made and entered into by and between MEIER PROPERTIES SERIES, LLC, a
Utah limited liability company (“Lessor”), and BAKER HUGHES OILFIELD OPERATIONS, INC., a California corporation
(“Lessee”), effective as of June 1, 2013 (the “Effective Date”). Capitalized Terms used herein and not otherwise
defined shall have the meanings assigned to such terms in the Lease (hereinafter defined).


 


WITNESSETH:


 


WHEREAS, Lessor
and Lessee (using the d/b/a “Baker Atlas”) entered into that certain Lease Agreement dated effective May 1, 2008 (the
“Lease”), pursuant to which Lessor leased to Lessee and Lessee leased from Lessor that certain property consisting
of a 1.16 acre tract of land, commonly known as Lot 4, Roper’s Industrial Park, a PUD located in NW/4 NW/4 Sec. 31, T4S,
R22E, SLM in the County of Uintah, Utah, having a street address of 1540 South 1700 East Circle Street, Naples, Utah (the “Premises”);
and


 


WHEREAS, the
Lease expires on May 31, 2013; and


 


WHEREAS, Lessor
and Lessee have agreed to extend the Lease for a period of three (3) years and desire to execute this Amendment to set forth in
writing such change make certain other changes in the terms and provisions of the Lease as hereafter provided;


 


NOW, THEREFORE,
KNOW ALL MEN BY THESE PRESENTS:


 


THAT, for and
in consideration of the premises and of Ten and No/100 Dollars ($10.00) and other good and valuable consideration paid by Lessee
to Lessor, the receipt and sufficiency of which are hereby acknowledged, Lessor and Lessee do hereby covenant and agree as follows:


 


1.           Term.
The Term of the Lease is extended for a period of three (3) years, commencing on June 1, 2013, and ending on May 31, 2016.


 


2.           Rent.
Rent for the Premises during this extension shall be One Hundred Eight Thousand and No/100 Dollars ($108,000.00) per annum,
which amount shall be payable in equal monthly installments of Nine Thousand and No/100 Dollars ($9,000.00) each, commencing on
June 1, 2013, and continuing thereafter on the first day of each calendar month through the end of the Term, as extended hereby.


 


As hereby expressly
amended, the Lease is ratified and confirmed to be in full force and effect.


 




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