Document:

Exhibit

Exhibit 10.21

SEPARATION AND GENERAL RELEASE AGREEMENT

This Separation and General Release Agreement (“Agreement”) is entered into by John Sinders (hereinafter “You” or “Your”) and Frank’s International, LLC, on behalf of itself and its affiliates (hereinafter “Company”).  You agree to the terms of this Agreement in consideration of the following:

1.   Last Day of Employment (Separation Date).   Your last day of employment with the Company shall be December 31, 2015, unless the Company, in its discretion, may decide to release you earlier for reasons other than set forth below.  In order to remain on the payroll until the aforementioned date and receive the Consideration set forth in Paragraph “2” below, you are required to:  (1) continue to perform your duties to the satisfaction of the Company, (2) comply with all company policies and procedures, (3) and assist with transition duties, and additional projects, when and as needed.  If you fail to comply with the obligations set forth above, or voluntarily resign before the Separation Date, or both parties have mutually agreed to waive the requirements set forth herein, you will be removed from the payroll and forfeit eligibility for the Consideration set forth in Paragraph “2” below.

2.  Consideration. After your employment ends on December 31, 2015 (hereinafter “Separation Date”), and you comply with the conditions set forth in this Agreement, you will receive;

		
	a.
	The amount equal to 100% individual achievement of your 2015 Short Term Incentive (STI) target based upon the STI corporate results achieved and approved to pay per the STI plan.

		
	b.
	Long Term Incentives including (i) the vested and unvested Executive Deferred Compensation Plan balance as of Separation Date, (ii) the vested and unvested Restricted Stock Unit grants issued pursuant to the Company’s 2013 Long Term Incentive Plan, and (iii) the vested balance of the Frank’s International, Inc. Employees’ 401K Plan, in each case per the applicable plan documents (collectively, the “Incentive Plans”); and

		
	c.
	Reimbursement of up to 18 months of COBRA subsidy for group health plans.

		
	d.
	Payment for accrued and unused vacation and sick leave; 

		
	e.
	Consulting Services Agreement.  See Annex A hereto.  

3.  Release.  In exchange for, and subject to your receipt of, the above consideration, you agree to the following terms: 

You hereby release and forever discharge, for you, your heirs, executors, administrators, legal representatives and assigns, the Company, its predecessors, successors, assigns, officials, officers, board of directors members, employees, subsidiaries, affiliated entities, agents, lessees, managers, underwriters and insurers, and every other person, firm, underwriter, insurer, partnership, organization or corporation, hereinafter referred to as “the Parties to be Released,” who might be, or might hereafter become liable for any and all claims, debts, damages and causes of action of whatsoever nature, whether known or unknown, whether growing out of tort, contract, quasi-contract, compensation, employment discrimination, or otherwise, including, but not limited to, the U. S. Constitution and laws of the United States, Title VII of the Civil Rights 

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Act of 1964, as amended, the Civil Rights Act of 1991, the Age Discrimination in Employment Act (“ADEA”),  the laws of the State of any state which may provide you, or an heir, executor, administrator, legal representative and/or assign of you, with a cause of action for damages or injunctive relief, including but not limited to, breach of contract, liquidated damages, compensatory damages, wages, emotional or psychological damage or distress, punitive damages, attorney's fees, medical and health insurance benefits, vacation benefits, penalties, interest, costs, employment, reemployment, or any other legally or equitably recoverable categories of relief which you have or may have against the Parties to be Released, their current or former officers, current or former employees, current or former managers, current or former members of the board of directors, directly or indirectly connected with your employment with the Company.  

You acknowledge that you have had a reasonable opportunity to consider this Agreement.  You understand and acknowledge that the payment to you of the amounts provided for herein will constitute receipt by you of consideration to which you are otherwise not entitled and that such amounts are sufficient to support this Agreement.  You further acknowledge that you are not relying upon any representations, assertions, promises, assumed action or inaction, of any other person in entering into this Agreement.  You acknowledge that the Parties' complete agreement is contained in this document.  You are signing this Agreement knowingly and willingly and have been advised to confer regarding it with counsel of his choice.  You also agree that nothing in this Agreement is to be construed as an admission of liability of any nature.

4.  Covenant Not to Sue.  You represent that you have not filed any claims, lawsuits or actions with any local, state, or federal court against the Company and agree not to do so based on any matter covered by this release of claims.  You acknowledge that if you violate this Agreement by filing or bringing any claims, or actions contrary to this paragraph, except for filing a charge or complaint with the Equal Employment Opportunity Commission, in addition to any other remedies that may be available to the Company including, but not limited to, remedies for breach of contract, you will pay all costs and expenses of the Company in defending against such claims, or actions brought by you, including reasonable attorney’s fees.

5.  Non-Disparagement.  You agree to not make any disparaging or negative comments about the Company, its customers and its suppliers, and their respective managers, executives, employees and representatives, and the Company agrees not to make any disparaging or negative comments about you.  A violation or threatened violation of this Section by either party may be enjoined by the courts.  The rights afforded the Company, its affiliates, and you under this provision are in addition to any and all rights and remedies otherwise afforded by law.

6.  Confidentiality.  You agree to keep the terms and existence of this Agreement confidential to the extent allowed by law.  You shall not voluntarily disclose the contents of this Agreement to other persons or third parties unless such disclosure (a) is consented to in writing by both parties, or (b) compelled by legal process such as subpoena or court or administrative order, or Securities and Exchange Commission filing.  In the event of such legal process, the party receiving such process shall promptly notify the other party to this Agreement in writing of such process in order to allow the other party the opportunity to oppose the disclosure of this Agreement or its contents.

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You agree to notify the Company immediately in any circumstance in which you are served with a purported order of court and/or subpoena or any request for information enforceable by law regarding your employment with the Company.  You will not in any manner oppose any effort by the Company to be released to contest said subpoena(s) and/or orders.  You further will not respond to any request prior to the resolution of any challenge by the Company to be released to said subpoena(s) and/or orders.

You further acknowledge you have or have had access to confidential information.  You agree to keep confidential any information obtained through the performance of your duties unless ordered to disclose such information by a court of law.  For purposes of this Agreement, “Confidential Information” means all (i) non-public information, (ii) knowledge, (iii) data, (iv) trade secrets (i.e., anything that gives the Company a competitive advantage), (v) proprietary information, (vi) confidential information, or (vii) information provided to the Company by its customers, suppliers, contractors, subcontractors, agents or representatives (regardless of whether the Company is contractually obligated to keep such information confidential), obtained by you from or through the Company during the course of your employment with the Company, concerning the business or affairs of the Company or the Company’s customers, suppliers, contractors, subcontractors, agents or representatives.  You also agree to return all documents and electronically stored data which relate to work performed by you (except for your contacts, personal data and documents, and documents that you may retain for use as form files on the express condition that you remove all confidential information from such documents prior to using them as forms) and all company owned property.

7.  Future Cooperation after Separation Date.  After separation, you agree to make reasonable efforts to assist the Company including but not limited to:  assisting with transition duties, assisting with issues that arise after separation of employment and assisting with the defense or prosecution of any lawsuit or claim.  This includes but is not limited to providing deposition testimony, attending hearings and testifying on behalf of the Company.  The Company will reimburse you for reasonable time and expenses in connection with any future cooperation after the separation date.  Time and expenses can include loss of pay or using vacation time at a future employer.  The Company shall reimburse you within 30 days of remittance by you to the Company of such time and expenses incurred, but in no event later than the end of the Employee’s tax year following the tax year in which you incur such time and expenses and such reimbursement obligation shall remain in effect for five years and the amount of expenses eligible for reimbursement hereunder during your tax year will not affect the expenses eligible for reimbursement in another tax year.

8.  Non-solicitation.   You acknowledge and recognize the highly competitive nature of the business of the Company.  Without the express written permission of the Company, you agree that you will not for a period of two (2) years from the separate date, directly or indirectly solicit or hire employees of the Company for employment.  Notwithstanding the foregoing, the restrictions of this Section 8 shall not apply with respect to an employee who responds to a general solicitation that is not specifically directed at employees of the Company or any of its affiliates.

9.  Property.  Subject to your right to retain certain files, documents and data as described in Section 6, you agree to return all Company property in your possession including, but not limited to vehicles, 

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keys, access cards / devices, mobile phones, computers, laptops, external hard drives, flash and jump drives, credit cards and all files, documents, and records relating to the business affairs of the Company in whatever medium and of whatever kind of type.  

You further agree that should it subsequently be determined by the Company that, notwithstanding the foregoing certification, you have inadvertently failed to return all proprietary or confidential information or documents in your possession or control related to the business and affairs of the Company, you will be obligated to promptly return to the Company such proprietary or confidential information and documents in your possession or control relating to the business and affairs of the Company.  

10.  409A.   Under the requirements of Section 409A of the Internal Revenue Code, because the Company is publicly traded, if a covered executive is a “specified employee” and the total amount of separation allowance payments payable in the first six months following the covered executive’s termination of employment under this and any other program, policy, plan or agreement with the Company and/or any of its affiliates exceeds an applicable limit and all payments will not be made within 21⁄2 months following the end of the calendar year in which the covered executive’s employment was terminated, then the Company will delay any payment that would cause the applicable limit to be exceeded and the payments will resume, without interest, beginning with the first regular payroll cycle that is six months following termination of employment.  The applicable limit under Section 409A is an amount equal to the lesser of (A) two times the covered executive’s base annual rate of salary during the calendar year immediately preceding the year of his or her employment termination and (B) $530,000 (for 2015), subject to adjustment for later years under the Internal Revenue Code.  The Plans Administration Committee will identify the covered executives who are specified employees in accordance with any method permitted under Section 409A and it will advise a covered executive if the specified employee delay applies to him or her.

11.  Review Period.  You acknowledge and certify you have been allowed up to forty-five (45) days to consider this Agreement.  You understand by signing this Agreement before the expiration of forty-five (45) days, you are waiving the balance of the period.  

12.  Revocation.  You understand you may revoke your acceptance of this Agreement at any time within seven (7) days after you execute it by sending written notice of any revocation to the Company during which time the payments set forth will be held in abeyance.  

If you want to revoke this Agreement, you must deliver a written revocation to Dan Allinger, Senior Vice President, Global Human Resources at 10260 Westheimer, Suite 700, Houston, TX 77042 within 7 days after you signed this Agreement.  

13.  Supersedes Prior Agreements.  Any and all previous written or verbal employment agreements or understandings between you and the Company regarding the termination of your employment with the Company are hereby revoked and cancelled.  This Agreement does not, however, supersede, revoke, or cancel your obligations to the Company under any preexisting agreements, including but not limited to confidentiality agreement, non-compete agreement or other agreement which sets forth obligations you have to the Company which, pursuant to such agreement, survive your 

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termination from the Company, except to the extent that the terms of such preexisting agreements are inconsistent with the terms of this Agreement in which case this Agreement shall control.  This Agreement will be administered by Dianne Todd, Regional HR Manager, who will also resolve any issues regarding the interpretation, implementation, or administration of the benefits described above.  However, the provision should not be construed to limit your legal rights if a disagreement exists to contest the decision of the Company.

14.  Payment.  After your last day of active work and once the Company receives your executed Agreements and the seven (7) day revocation period has expired, the Company will issue your severance payment in a lump sum, minus appropriate state and federal withholdings, in the Company’s next scheduled payroll.

15.  Severability.  The invalidity or unenforceability of a term or provision of this Agreement should not affect the validity or enforceability of any other term or provision of this Agreement, which will remain in full force and effect.  Any titles or headings in this Agreement are for convenience only and shall have no bearing on the interpretation of this Agreement.  

	
					
	EMPLOYEE:
	 
	 
	FRANK’S INTERNATIONAL, LLC
	 

	 
	 
	 
	 
	 

	/s/ John W. Sinders
	 
	BY:
	/s/ Daniel A. Allinger
	 

	Signature
	 
	 
	Signature
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	John W. Sinders
	 
	 
	SVP, Global HR
	 

	Printed Name
	 
	 
	Title
	 

	 
	 
	 
	 
	 

ANNEX A
FORM OF CONSULTING SERVICES AGREEMENT- JOHN SINDERS
(ATTACHED HERETO)

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ANNEX A
CONSULTING SERVICES AGREEMENT

This CONSULTING SERVICES AGREEMENT (this “Agreement”) is entered into this 11th day of November, 2015 to be effective as of the 1st day of January, 2016 (the “Effective Date”), by and between FRANK’S INTERNATIONAL, LLC, a Texas corporation, on behalf of itself and its affiliates (“FI”), with a business address at 10260 Westheimer Rd., Houston, Texas 77042, and John Sinders an individual with an address at 2929 Westheimer, Apartment 319, Houston, TX 77098 (the “Consultant”).

RECITALS:

A.    FI is desirous of retaining Consultant to perform the consulting services and work described in this Agreement (including any Exhibits hereto) (the “Services”), and Consultant desires to perform the Services in accordance with the terms and conditions of this Agreement.

AGREEMENTS:

NOW, THEREFORE, in consideration for the mutual promises contained herein, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, FI and Consultant hereby agree as follows:

1.    Engagement.  FI engages Consultant to render the Services, and Consultant agrees to provide such Services, as provided in this Agreement.

2.    Term.  The term of this Agreement shall commence on the Effective Date, and continue until the earlier of (i) twelve (12) months; or (ii) or  upon mutual agreement of termination.  Notwithstanding the forgoing, the Term may only be extended upon the express written agreement of the parties hereto.

3.    Services.

3.1    In General.  

		
	(a)
	Services requested from the Consultant can only be approved by the VP of Corporate Development and Planning or the Chief Executive Officer; 

		
	(b)
	While the majority of services will be of the oral advisory, professional expertise and consultative, a separate Statement of Work will not be required; 

		
	(c)
	If a tangible deliverable is requested of the Consultant,  the request will be  agreed to in writing by the parties and/or amended on or after the Effective Date and considered as Statements of Work (collectively, a “Statement of Work”) describing the separate services and tasks to be performed by Consultant (separately, a “Task”, and collectively, the “Tasks”), and shall list the tangible items to be delivered by Consultant to FI with respect to each such Task (separately, a “Deliverable”, and collectively, the “Deliverables”).  

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3.4    Status Meetings; Access.  Consultant’s representatives shall meet with FI to discuss and report on the progress on the Tasks upon FI reasonable request, which request shall be reasonable as to frequency, time, place and desired attendees. FI shall provide Consultant reasonable access to FI materials, system and personnel required to perform the Services.  

4.    Fees.

4.1    Amount and Payment Dates.  

		
	(a)
	A monthly retainer in the amount of ten thousand dollars ($10,000) will be paid to the Consultant as compensation for up to twenty (20) hours of services per month.  The Consultant shall deploy the 20 hour budget as requested by the Company during each month.  

		
	(b)
	If the requested services for a particular month are projected to exceed the monthly retainer hours outlined in 4.1(a), Consultant shall consult with and receive prior approval from the VP of Corporate Development and Planning or Chief Executive Officer.  Consultant will be compensated five hundred dollars ($500.00) per hour for approved hours in excess of the monthly retainer hours outlined in 4.1(a) above.  

4.2    Expenses.  FI will reimburse Consultant for all actual out of pocket expenses reasonably incurred by Consultant in performing services under this Agreement.  Amounts reimbursable by FI to Consultant hereunder shall be paid by FI to Consultant within thirty (30) business days after FI receipt of Consultant’s invoice therefor, together with copies of receipts and such other backup as FI may reasonably request for any particular expense items in excess of $100.  Expense items in excess of $100 must be approved in advance by FI.

5.    Personnel.  

5.1    Designated Personnel.  This agreement is personal to Consultant and may not be assigned.  Consultant acknowledges that he is available for this assignment and agrees that he will each remain available throughout the Term. 
    
6.    Change of Scope.  Notwithstanding any other provision of this Agreement, no Statement of Work may be modified or amended without the prior written consent of a duly authorized officer of FI.  In that regard, if at any time during the Term of this Agreement FI desires Consultant to provide any additional services which would require a modification of or a change to a Statement of Work, Consultant and FI shall comply with the following:

6.1    Submission of Request.  FI shall submit to Consultant in writing all requests by FI for any such additional services which alter, amend, enhance, add to, or delete from the Tasks, the Deliverables or the Deliverable Due Dates (as applicable) set forth on each Statement of Work and/

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or time and/or place of performance thereof (hereinafter referred to as “Modification/Change Request”).

6.2    Acceptance Procedure.  Within ten (10) business days after Consultant’s receipt of the Modification/Change Request, Consultant will (i) evaluate such Modification/Change Request at no additional charge to FI, and (ii) provide FI with a written proposal for implementing such Modification/Change Request (the “Response Proposal”).  The Response Proposal shall include a revised Statement of Work and shall include a statement of the availability of Consultant’s personnel and resources, and the impact, if any, on the Deliverables, the Deliverable Due Dates and Deliverable Prices.  In the event that FI elects to proceed with the completion of such Response Proposal, FI will execute the Response Proposal and return it to Consultant (such Response Proposal that has been executed by FI being referred to herein as an “Accepted Proposal”).

6.3    Performance.  Upon Consultant’s receipt of any Accepted Proposal, Consultant will commence performance in accordance with such Accepted Proposal immediately.  Consultant shall not be obligated to perform any additional services in advance of Consultant’s receipt of the executed Accepted Proposal from FI.

6.4    Binding Agreement.  For the purposes of this Agreement, each Accepted Proposal shall automatically be deemed incorporated into this Agreement and each such Accepted Proposal shall constitute a formal amendment to this Agreement amending the Tasks, the Deliverables, the Deliverable Due Dates, and the Deliverable Prices as set forth in such Accepted Proposal.  In no event shall the Services be deemed altered, amended, enhanced, or otherwise modified except through an Accepted Proposal in accordance with this Section 6.

7.    Inventions and Creations.

7.1    Ownership.  FI shall be the sole and exclusive owner of the Deliverables and any and all inventions, discoveries, improvements or creations, including, without limitation, the Deliverables (collectively, “Creations”) which Consultant conceives or makes in connection with the Services in any way, except for such portions of the Deliverables containing intellectual property belonging to other third parties, the use of which other third parties’ intellectual property with respect to the Deliverables has been duly licensed by Consultant (and is sublicensed to FI) as part of the Services.  Consultant agrees that all copyrightable works created by Consultant or under Consultant’s direction in connection with this Agreement are “works made for hire” and shall be the sole and complete property of FI and that any and all copyrights to such works shall belong to FI.  To the extent any of the works described in the preceding sentence are not deemed to be “works made for hire,” Consultant hereby assigns all proprietary rights, including copyright, in these works to FI without further compensation.  All of Consultant’s intellectual property in existence as of the Effective Date, and all other intellectual property developed by Consultant after the Effective Date not arising out of or relating to the Services is herein referred to collectively as the “Consultant IP”. 

7.2    Further Assurances.  Consultant further agrees to (i) disclose promptly to FI all such Creations which Consultant has made or may make solely, jointly or commonly with others in connection with the Services, (ii) assign all such Creations to FI, and (iii) execute and sign any and all applications, assignments or other instruments which FI may deem necessary in order to enable 

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FI, at FI expense, to apply for, prosecute and obtain copyrights, patents or other proprietary rights in the United States and foreign countries or in order to transfer to FI all right, title and interest in said Creations.

8.    Confidentiality.

8.1    Confidential Information Defined.  For purposes of this Agreement, “Confidential Information” means (i) any information that one party hereto receives from the other party hereto that is marked as “confidential”, the “Deliverables”, (iii) the terms of this Agreement, or (iv) any information received by one party hereto regarding the other party’s plans, strategies, processes, methodologies, trade secrets, or other information which should reasonably be understood to be confidential or proprietary, but shall not include any information which was at the time of disclosure to the receiving party (1) in the public domain without fault of the receiving party; (2) known by the receiving party through another source not subject to an obligation of confidentiality to the disclosing party; (3) independently developed by the receiving party; or (4) compelled to be disclosed by legal process, law or securities exchange requirement, provided that the party whose Confidential Information is to be disclosed has first been given a reasonable opportunity to seek a protective order or other protection for its Confidential Information.

8.2    Nondisclosure.  Each party shall keep confidential and not disclose to any third party or use for its own benefit, except as expressly permitted herein, or for the benefit of any third party, any Confidential Information disclosed by the other party to it.  Each party agrees to secure and protect the Confidential Information of the other in the same manner as it would secure and protect its own Confidential Information and agrees to take appropriate action by instruction or agreement with its employees, agents, consultants and advisors who are permitted access to the Confidential Information to satisfy its obligations hereunder.  Each party shall cooperate with and assist the other in identifying and preventing any unauthorized use, copying or disclosure of the Confidential Information.

8.3    Return of Confidential Information.  Upon the expiration or earlier termination of this Agreement for any reason and provided that the disclosing party is not in default of its obligations hereunder, the receiving party shall immediately turn over to the disclosing party all documents, disks or other magnetic media, or other material in the receiving party’s possession or under its control that may contain the disclosing party’s Confidential Information; provided, however, that Consultant shall be entitled to keep copies of all of its working papers relating to the Services for archival and audit purposes, subject to Consultant’s confidentiality obligations set forth in this Agreement.    

9.    Warranties; Disclaimer; Limitation of Liability; Indemnity

9.1    Warranties.  Consultant represents, warrants and covenants to FI that (i) Consultant shall perform the Services hereunder in accordance with all reasonable professional standards for similar services; (ii) the Deliverables will be the original work of Consultant or the work of its independent contractors; (iii) the Deliverables are and shall remain free of any claim of infringement of any trade secret, trade mark, trade name copyright, patent or any other registered intellectual property right of any third party.  If the Deliverables include the work of independent contractors, 

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Consultant shall have agreements in place with such third parties which contain provisions assigning all necessary rights, title and interest in, to and under the Deliverables sufficient for Consultant to grant the ownership interests and licenses that it purports to grant to FI hereunder, and Consultant will provide evidence reasonably satisfactory to FI of such agreements.  With respect to the Services to be provided by Consultant hereunder, Consultant hereby warrants and agrees to utilize only (A) Consultant IP, and (B) third-party owned intellectual property with respect to which Consultant has obtained all requisite licenses and other rights necessary for Consultant’s use and sublicense thereof.  

9.2    Remedy for Breach of Warranty.  For a period of not less than twelve (12) months after completion of all of the Services, Consultant shall, at no additional cost to FI, re-perform Services that do not materially comply with the warranties set forth in Section 9.1.  

9.3    INDEMNITY.  CONSULTANT SHALL DEFEND, INDEMNIFY AND HOLD COMPANY, ITS OFFICERS, DIRECTORS AND EMPLOYEES HARMLESS FROM ANY CLAIMS, LOSSES, DEMANDS, LIABILITIES, SUITS, COSTS OR EXPENSES OF ANY KIND (INCLUDING WITHOUT LIMITATION ATTORNEYS FEES AND COURT COSTS) INCURRED BY COMPANY AND ARISING OUT OF THE DUTIES PERFORMED BY CONSULTANT OR RELATED ACTIVITIES UNDER THIS AGREEMENT.  THESE PROVISIONS SHALL SURVIVE THE TERMINATION OF THIS AGREEMENT AND SHALL BE LIBERALLY CONSTRUED IN FAVOR OF COMPANY. 

Notwithstanding anything to the contrary under the Agreement, Consultant’s aggregate liability under this Agreement shall be limited to the lesser of fees collected or One Hundred Thousand Dollars ($100,000.00) under the Agreement. Consultant shall INDEMNIFY the Company from and against any and all CLAIMS/LOSSES that are the result of intentional, wilful, or gross negligence. This Clause shall survive the expiry or termination of the AGREEMENT.

10.    Termination.

10.1    General.  This Agreement or any particular Statement of Work may be terminated by either party in the event of (i) the occurrence of any of the events set forth in Sections 3 or 5; (ii) any (A) material default in, or material breach of, any of the terms and conditions of this Agreement or such Statement of Work by the other party, or (B) failure of FI to pay any amount due and payable hereunder on or prior to the due date therefor, which default continues in effect after the defaulting party has been provided with written notice of default and fifteen (15) days to cure such default; (iii) the commencement of a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to either party of its debts under any bankruptcy, insolvency, or other similar law now or hereafter in effect, that authorizes the reorganization or liquidation of such party or its debt or the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of such party’s property; (iv) the other party’s consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other proceeding commenced against it; (v) the other party’s making a general assignment for the benefit of creditors, the other party’s becoming insolvent, or the other party taking any corporate action to authorize any of the foregoing; or (vi) with five 

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(5) days written notice if FI terminates the Agreement or Statement of Work and with thirty (30) days written notice if Consultant terminates the Agreement or Statement of Work.

10.2    Failure to Deliver Deliverable by Deliverable Due Date.  In the event that Consultant fails to deliver a Deliverable within fifteen (15) days after the applicable Deliverable Due Date, then FI shall be entitled to provide Consultant with written notice of such failure (the “Failure Notice”) and Consultant shall have an additional fifteen (15) days from Consultant’s receipt of such Failure Notice within which to deliver such Deliverable to FI.  If Consultant fails to deliver the Deliverable within such additional fifteen (15) day cure period, then FI shall be entitled for a period of ten (10) days following the expiration of such fifteen (15) day cure period within which to terminate this Agreement or the applicable Statement of Work upon written notice to Consultant.  In the event that FI fails to terminate this Agreement or Statement of Work within such ten (10) day period, then FI shall be deemed to have waived it right of termination under this Section 10.2 with respect to that Failure Notice; provided, however, that FI shall be entitled to repeat the procedure set forth in this Section 10.2 with respect to such late Deliverable or any other Deliverable that is not delivered within fifteen (15) days after the applicable Deliverable Due Date by providing Consultant with an additional Failure Notice.

10.3    Obligations Upon Termination.  

(a)    Upon the termination of this Agreement or any particular Statement of Work pursuant to this Section 10 or Section 2, FI shall immediately pay Consultant all fees, costs and expenses owed to or incurred by Consultant up to the Effective Date of such termination; provided, however, that with respect to any Deliverable that has not been accepted by FI before the effective date of such termination, FI shall pay to Consultant a portion of the applicable Deliverable Price based upon the portion of the work completed by Consultant with respect to such Deliverable as of the effective date of such termination.

(b)    Immediately after termination of this Agreement pursuant to this Section 10 or Section 2, Consultant shall return to FI any and all Confidential Information in accordance with Section 8.3.  In addition, FI shall return to Consultant any Deliverables or portion thereof that were delivered to FI but have not been paid for by FI as the date of such termination.

(c)    Following the completion of the actions described in Sections 10.3(a) and 10.3(b), the parties shall have no further obligations pursuant to the terms of the Agreement, except as to those provisions of this Agreement that specifically survive the termination of this Agreement.

11.    Injunction.  In the event of a breach or threatened breach by either of the parties hereto of Sections 7 or 8 of this Agreement, the parties agree that the non-breaching party, in addition to and not in limitation of any other rights, remedies or damages available to the non-breaching party at law or in equity, shall be entitled to a permanent injunction without the necessity of proving actual monetary loss in order to prevent or restrain any such breach by the breaching party or by the breaching party’s partners, agents, subcontractors, representatives, servants, employees and/or any and all persons directly or indirectly acting for or with the breaching party.  It is expressly understood between the parties that this injunctive or other equitable relief shall not be the non-breaching party’s exclusive remedy for any breach of this Agreement, and the non-breaching party shall be entitled 

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to seek any other relief or remedy which it may have by contract, statute, law or otherwise for any breach hereof.

12.    Other Provisions.

12.1    Assignment.  Consultant may not assign or delegate this Agreement or any of its rights or duties under this Agreement to any other person or entity without the prior written consent of FI. FI may assign its rights and obligations under this Agreement to any affiliate of FI, to a successor-in-interest in connection with a merger, acquisition or consolidation or by operation of law, or to the purchaser in connection with the sale of, all or substantially all of the business operations of FI to which the subject matter of this Agreement relates, without the prior written consent of Consultant.

12.2    Laws.  This Agreement shall be construed, interpreted and governed by the laws of the State of Texas, without giving effect to any conflicts of law principles.  Any action, suit, or proceeding arising out of, based on, or in connection with this Agreement or any breach of this Agreement may be brought only in a court located in Houston, Harris County, Texas, USA, and each party covenants and agrees not to contest the jurisdiction or venue of such courts.

12.3    Entire Agreement; No Waiver.  This Agreement, including all Exhibits referenced herein, constitutes the entire agreement between the parties with respect to the subject matter hereof and supercedes and cancels all previous and contemporaneous agreements and commitments with respect to the subject matter hereof.  No provisions of this Agreement may be waived, changed, terminated, modified or discharged, orally or otherwise, except by a writing of subsequent date hereto which is executed by a party against whom the waiver, charge, termination, modification or discharge is sought to be enforced.  Neither the course of conduct between the parties nor trade usage will act to modify or alter the provisions of this Agreement.  Forbearance or neglect on the part of either party to insist upon strict compliance with the terms of this Agreement shall not be construed as or constitute a waiver thereof.

12.4    Relationship.  The relationship of Consultant and FI established by this Agreement is that of independent contractors, and nothing contained in this Agreement will be construed to constitute the parties as partners, joint venturers, co-owners, agents, fiduciaries or otherwise as participants in a joint or common undertaking. Nothing in this Agreement shall establish an employer/employee relationship between FI and Consultant. It is understood that Company will not withhold any amounts for payment of taxes from the compensation of Consultant hereunder.  Consultant will not represent to be or hold Consultant out as an employee of Company.  Additionally, since Consultant is working on a contractor basis, the Company will not provide any of the medical treatment, insurance or other social welfare to the Consultant.

12.5    Counterparts.  This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, and all of which shall together constitute one and the same instrument.  This Agreement shall become binding when one or more counterparts hereof, individually, or taken together, shall bear the signatures of all of the parties reflected hereon as signatories.  The parties to this Agreement further agree that facsimile signatures may be considered 

7
        

an original for all purposes, including, but not limited to, execution of this Agreement and enforcement of this Agreement.

12.6    Severance.  In the event any provision hereof, or the application thereof in any circumstances, is held to be invalid, illegal or unenforceable by a final or unappealable order, decree or judgment of any court, the provision in question shall be deemed replaced with a valid and enforceable provision most closely reflecting the intent and purpose of the original provision within the jurisdiction of such court and the Agreement shall otherwise remain in full force and effect in such jurisdiction and in its entirety in other jurisdictions. 

12.7    Priority.  In the event of any conflict between this Agreement and any Exhibit hereto, this Agreement shall prevail for all purposes. 

12.8    Survival.  In the event of the expiration or termination of this Agreement, those Sections (including, without limitation, Sections 7, 8, 9 and 10) which by their nature are intended by the parties to survive shall survive and continue in effect to the extent necessary to protect the rights of the parties.

12.9    Attorneys Fees.  In the event of any dispute between the parties regarding this Agreement, the prevailing party shall be entitled to be reimbursed for such prevailing party’s attorneys fees and costs of court by the non-prevailing party.

12.11    Successors and Assigns.  This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of the respective parties.

13.    Notices.

13.1    Delivery.  All notices under this Agreement must be in writing and will be deemed given:  (a) upon being delivered personally; (b) upon being sent by both confirmed facsimile and e-mail; (c) five (5) days after having been sent by registered or certified mail, return receipt requested; or (d) three (3) days after deposit with a commercial overnight carrier specifying two day delivery, with written verification of receipt. 

13.2    Address.  All communications will be sent to the respective addresses of Consultant and FI set forth on the signature page to this Agreement or to such other addresses as may be designated by a party upon prior written notice to the other party.

[REST OF PAGE INTENTIONALLY LEFT BLANK]

    

8
        

IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of the Effective Date.

	
						
	CONSULTANT:
	 
	FRANK’S INTERNATIONAL, LLC:

	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 

	By:
	/s/ John W. Sinders
	 
	By:
	/s/ Gary Luquette
	 

	Name:
	John W. Sinders
	 
	Name:
	Gary Luquette
	 

	 
	 
	 
	Title:
	Chief Executive Officer
	 

	 
	 
	 
	 
	 
	 

	Address for Consultant:
	 
	Address for FI:
	 

	 
	 
	 
	10260 Westheimer, Suite 700
	 

	 
	 
	 
	Houston, Texas 77042
	 

	 
	 
	 
	USA
	 
	 

	 
	 
	 
	 
	 
	 

	 
	 
	 
	Attention:
	 

	 
	 
	 
	Alex Cestero,
	 

	 
	 
	 
	SVP, General Counsel and Secretary - 
	 

	 
	 
	 
	Legal Department
	 

9Exhibit

Exhibit 10.22

SEPARATION AGREEMENT
This SEPARATION AGREEMENT (this “Agreement”) is entered into by and between Donald Keith Mosing (“Executive”), Frank’s International LLC (the “Employer”), and Frank’s International N.V. (“FINV,” and collectively with the Employer, the “Company”).  The Company and Executive are referred to herein individually as a “Party” and collectively as the “Parties.”   Capitalized terms not defined in this Agreement shall have the meaning given such terms in the Employment Agreement (as defined below).  
WHEREAS, the Company and Executive previously entered into (a) an employment agreement dated October 30, 2014, as amended on January 23, 2015 (as amended, the “Employment Agreement”); (b) a Restricted Stock Unit award agreement dated August 14, 2013, including Exhibit A thereto, and as amended effective June 30, 2014 (as amended, the “2013 RSU Award”); and (c) a Restricted Stock Unit award agreement dated February 23, 2015 (the “2015 RSU Award,” and collectively with the 2013 RSU Award, the “RSUs”); and
WHEREAS, Executive is eligible for certain deferred compensation pursuant to the Frank’s Executive Deferred Compensation Plan, as amended and restated effective January 1, 2009 (the “EDC Plan”); the Parties acknowledge that payments under the EDC Plan are not subject to a Release and are not consideration for this Agreement; and
WHEREAS, other than as set forth above, there are no other agreements or understandings between the Parties regarding Executive’s employment status, compensation, or benefits; and 
WHEREAS, Executive’s employment with the Employer will be terminated pursuant to Section 5.2 of the Employment Agreement as of the Separation Date, defined below; and
WHEREAS, the Company wishes to provide Executive with certain payments and benefits, as set forth in the Employment Agreement and otherwise, and Executive wishes to receive such payments and benefits, which are conditioned upon Executive’s timely entry into, and non-revocation of, this Agreement and the Release described in Section 2 below, in the time provided to do so; and 
WHEREAS, the Parties wish to fully and finally resolve all claims that may now exist between them, including all claims arising out of Executive’s employment and the termination of that employment, and the Parties acknowledge that this Agreement and the Release shall constitute a full and final settlement of all such claims and to any compensation or benefits owed or owing to Executive;
NOW, THEREFORE, in consideration of the promises set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows:
1.     Separation from Employment.  The Parties acknowledge and agree that Executive’s employment with the Company will end as of 11:59 pm Houston, Texas time on December 31, 2015 (the “Separation Date”) and that, as of the Separation Date, Executive will no longer be employed 

by the Employer, FINV, or any of their affiliates (as applicable).  Further, as directed and requested by the Employer, FINV, or any of its affiliates (as applicable), Executive will resign irrevocably and be removed from all positions (whether as supervisory director, managing director, member of any other governing body, officer or otherwise) of the Employer, FINV, or any of their affiliates (including his position as managing director of Frank's International Management B.V., which is the sole managing director of FINV) and all other shareholder representative or other positions, posts, offices, and assignments with the Employer, FINV, and any of their affiliates, except that he will remain a regular, non-Chairman member of FINV’s board of supervisory directors (the “Board”) until further notice from FINV in accordance with its governing documents.  The foregoing resignations and removals shall be effective pursuant to the direction and request of the Company or applicable affiliate, as applicable. Except to the extent necessary for purposes of the foregoing sentence and except as referenced under Section 3(b) herein, Executive acknowledges that, from and after the Separation Date, he shall have no authority to, and shall not, act as an employee or in any other capacity for the Company or any affiliate thereof except with respect to his position as a member of the Board.  Executive further agrees to take any and all further acts necessary to effectuate the resignations described in this Section 1 of the Agreement.  
2.     Severance Payments and Benefits.  Except with respect to the Accrued Rights and as otherwise specified in this Agreement, provided that Executive executes the Release (as such term is defined in the General Release of Claims attached hereto as Exhibit A (the “Release”)) on or after the Separation Date and by January 21, 2016; returns a copy of the executed Release to the Company so that it is received by each of the Company parties as listed in Section 4(j) of this Agreement no later than 11:59 pm Houston, Texas time on January 21, 2016; does not revoke his acceptance of the Release pursuant to Section 4 of the Release; and otherwise complies with his obligations under this Agreement and the Release, and provided that on the Separation Date, the Company does not have a right to terminate Executive’s employment under Section 3.2(a), 3.2(b), or 3.2(c) of the Employment Agreement, then:
(a)    Severance Payment.   The Company shall pay to Executive a lump sum cash payment equal to $16,512,666.67, which represents an amount equal to two (2) times the sum of Executive’s Base Salary as of the Separation Date and the Average Annual Bonus (the “Severance Payment”).  The Severance Payment shall be paid, less applicable taxes, in a lump sum on February 29, 2016, subject to any payment delay required by the Employment Agreement or Section 409A of the Code (“Section 409A”) and Section 4(d)(ii) hereof.
(b)    2015 Bonus.  The Company shall pay to Executive an additional lump sum cash payment equal to the Annual Bonus earned by Executive for fiscal year 2015, as determined pursuant to, and payable on the date specified in, the Employment Agreement.  
(c)    Welfare Benefits.   During the portion, if any, of the 18-month period following the Separation Date that Executive elects to continue coverage for Executive and Executive’s spouse 

2

and eligible dependents, if any, under the Employer’s group health plans under COBRA or sections 601 through 608 of the Employee Retirement Income Security Act of 1974, as amended, the Employer shall promptly reimburse to Executive on a monthly basis for the difference between the amount Executive pays to effectuate and continue such coverage and the employee contribution amount that active senior executive employees of the Employer pay for the same or similar coverage under such group health plans.  This reimbursement shall be subject to all lawful deductions and withholding for taxes and any delay in payment required by Section 409A.    
(d)    Restricted Stock Units. Executive’s outstanding 2013 RSU Award and 2015 RSU Award shall vest in accordance with the terms of the applicable RSU award agreements. For the sake of clarity, Executive shall not be entitled to any additional grants of restricted stock units or other awards under any long-term incentive plan maintained by the Company.  The Parties acknowledge that the RSUs are not subject to a Release.
(e)    Provision of Office; Reimbursement for Certain Expenses.  The Company’s reimbursement to Executive of the reimbursable expenses described in this Section 2(e) shall be made by the Company upon or as soon as practicable following receipt, within 45 days following the date such expense is incurred by Executive, of supporting documentation reasonably satisfactory to the Company (but in any event, such reimbursement to be provided not later than 90 days following the date such expense is incurred by Executive), and further subject to any payment delay or other payment restriction described in Section 4.5(b) of the Employment Agreement and Section 4(d)(ii) hereof.
(i)    Office and Support Staff.  Executive shall be provided, through December 31, 2017, with (A) an office of a size and with furnishings and appointments materially comparable in the aggregate to that which was provided to Executive by the Employer immediately preceding the Separation Date (excluding any property or information Executive is required to return to the Company pursuant to Section 3(c) herein), and (B) reimbursement for Executive’s engagement of an individual, with such engagement to serve the purpose of providing administrative support to Executive as determined by Executive in his sole discretion, and such reimbursement not to exceed an aggregate cost of $100,000 per annum.
(ii)    Client and Company Office Travel.  Executive and his spouse shall be provided with an opportunity to visit clients and Company offices at any time during the first nine (9) months of 2016, with travel by first-class air and subject to a $2,500 per diem; provided, however, that the Company’s payment of travel expenses shall be limited to those travel expenses incurred by Executive and his spouse over a two-week period, with Executive being responsible for all costs associated with any extension of the trip beyond two weeks.  

3

(iii)    Legal Fees.  The Company shall reimburse Executive for reasonable legal fees, but not to exceed $30,000, incurred by him by close of business on December 31, 2015, in connection with the negotiation, preparation, and execution of this Agreement.
(f)    Accrued Rights.  The Company shall provide the Accrued Rights when and as defined in the Employment Agreement.  The Parties acknowledge that the Accrued Rights are not subject to a Release and are not consideration for this Agreement.
Executive acknowledges that the payments and benefits described in this Section 2(a), (b), (c) and (e) are consideration over and above that to which Executive otherwise would be entitled upon his separation and are paid in consideration for his acceptance of this Agreement.
3.     Restrictive Covenants.  Executive shall continue to be subject to any and all restrictive covenants included in Articles VI, VII, and VIII of the Employment Agreement and Exhibit A of the RSU award agreements, which Executive acknowledges are reasonable in all respects, do not pose an undue hardship, and are a condition of his receipt and retention of the consideration set forth herein.  The following other covenants shall apply under this Agreement, which are in addition to and not in lieu of, any covenants described by the foregoing sentence: 
(a)    Mutual Non-Disparagement.   Nothing in Article VII of the Employment Agreement shall prohibit any Party from responding accurately and fully to any question, inquiry, or request for information required by legal or administrative process.
(b)    Cooperation and Assistance.  Executive shall fully cooperate with the Employer, FINV, and their respective affiliates in effectuating his resignation and transition to a non-Chairman member of the Board and in any investigation or proceeding conducted by the Company or any federal or state regulatory or law enforcement agency.  Executive agrees that he will not take any actions to disrupt, damage, or interfere with the business of the Company.  Executive further agrees that after the Separation Date, upon request by the Company, Executive will assist the Company in the defense of any claims, or potential claims that may be made or threatened to be made against the Company or any of its affiliates or any other member of the Employer Parties (as such term is defined in the Release) in any action, suit or proceeding, whether civil, criminal, administrative, investigative or otherwise (a “Proceeding”), and will assist the Company in the prosecution of any claims that may be made by the Company or any other Employer Party in any Proceeding, to the extent that such claims may relate to Executive’s employment or the period of Executive’s employment by the Employer.  Executive agrees, unless precluded by law, to promptly inform the Company if Executive is asked to participate (or otherwise become involved) in any Proceeding involving such claims or potential claims.  Executive also agrees, unless precluded by law, to promptly inform the Company if Executive is asked to assist in any investigation (whether governmental or otherwise) of (or the actions of) the Company or any other Employer Party, regardless of whether a lawsuit has then been filed against the Company or any other Employer 

4

Party with respect to such investigation.  Executive agrees to fully and completely cooperate with any proceedings or investigations conducted by or on behalf of the Company, any other Employer Party, including, without limitation, the Company’s Audit Committee from time to time. The Company agrees to reimburse Executive for all of Executive’s reasonable costs and out-of-pocket expenses associated with any such cooperation and assistance under this Section 3(b), including reasonable attorneys’ fees and travel expenses; provided, however, that nothing in this Section 3(b) shall require the Company to reimburse Executive for any personal attorneys’ fees incurred in connection with any such Proceeding relating to Executive’s illegal or wrongful conduct.  
(c)    Return of Company Property.  Within fifteen (15) days of the Separation Date, Executive shall deliver to the Company the property belonging to the Company or any affiliate thereof that is in his possession or control, including credit cards, telephone cards, vehicles, and any computer files, client materials, electronically stored information, and other information including, without limitation, any copies thereof provided to Executive by the Employer or any Company affiliate in the course of Executive’s employment; provided that such information or property that is obtained in the course of or that is to be used in Executive’s capacity as a member of the Board shall be returned within fifteen (15) days after he is no longer a Board member and provided further, any property provided as part of Section 2(e)(i) shall be returned fifteen (15) days after December 31, 2017. With respect to any telephone, cell phone, iPad, computer, laptop, tablet or similar device that the Company or any affiliate may have provided to Executive or Executive’s spouse for business or personal use, Executive shall also present such property to the Company within fifteen (15) days of the Separation Date, with the understanding that the Company shall return all such property to Executive following the Company’s satisfaction that it has been able to copy or otherwise retain all Company (or applicable affiliate) information contained on such property.   
4.    Miscellaneous.
(a)    No Waiver.  No failure by any Party at any time to give notice of any breach by any other Party of, or to require compliance with, any condition or provision of this Agreement or the Release shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.
(b)    Applicable Law.  This Agreement and the Release are entered into under, and shall be governed for all purposes by, the laws of the State of Texas without reference to the principles of conflicts of law thereof.
(c)    Severability.  To the extent permitted by applicable law, the Company and Executive hereby agree that any term or provision of this Agreement or the Release (or part thereof) that renders such term or provision or any other term or provision hereof (or part thereof) invalid or unenforceable in any respect shall be severable and shall be modified or severed to the extent 

5

necessary to avoid rendering such term or provision (or part thereof) invalid or unenforceable, and such modification or severance shall be accomplished in the manner that most nearly preserves the benefit of the Parties’ bargain hereunder.
(d)    Taxes; Withholding; Section 409A.  
(i)    Withholding.   The Company may withhold from all payments made pursuant to this Agreement all federal, state, local, and other taxes and withholdings as may be required pursuant to any law or governmental regulation or ruling. 
(ii)    Section 409A.  This Agreement and the Release are intended to satisfy the requirements of Section 409A with respect to amounts, if any, subject thereto and shall be interpreted, construed, and administered consistent with such intent.  To the extent permitted under Code Section, 409A each payment made under this Agreement shall be deemed to be a separate payment for purposes of Section 409A.  Notwithstanding anything herein to the contrary, if at the time of Executive’s “separation from service” with the Company within the meaning of Code Section 409A Executive is a “specified employee” as defined in Code Section 409A and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such separation from service is necessary in order to prevent any accelerated or additional tax under Section 409A of the Code, then the Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to Executive) and such payments shall be paid to Executive in a single lump sum as soon as practicable after the date that is six months following Executive’s separation from service with the Company and its affiliates (or on the date of Executive’s death, if earlier than the date that is six months following Executive’s separation from service with the Company and its affiliates).  To the extent any reimbursements or in-kind benefits due to Executive under this Agreement constitute “deferred compensation” under Section 409A of the Code, any such reimbursements or in-kind benefits shall be paid to Executive in a manner consistent with Treas. Reg. Section 1.409-3(i)(1)(iv).  Notwithstanding the foregoing or any other provision of this Agreement or the Release, the Employment Agreement, the RSUs, the Employer’s EDC Plan, or any other arrangement under which Executive is entitled to deferred compensation, neither the Employer nor FINV makes any representations that the payments and benefits provided under any such arrangements are exempt from, or compliant with Section 409A; provided that the Company will provide Executive written notice prior to reporting any such compensation as non-compliant with Code Section 409A.  
(iii)    Taxes.   Notwithstanding anything herein to the contrary, Executive and not the Employer or FINV or any of their affiliates, shall be liable for all or any portion of any taxes, penalties, or interest that may be incurred by Executive on any payments made under this Agreement.   
(e)    Affiliate.  As used in this Agreement and the Release, the term “affiliate,” as used with respect to a particular person or entity, shall mean any other person or entity which owns or controls, is owned or controlled by, or is under common ownership or control with, such particular person or entity.

6

(f)    Complete Agreement.  Except to the extent specifically provided herein, this Agreement and the Release constitute the entire agreement and understanding concerning Executive’s separation from service and termination of employment, and the other subject matters addressed herein between the Parties, and supersedes and replaces all prior negotiations and all agreements proposed or otherwise, whether written or oral, concerning the subject matters hereof; provided, however, that this Agreement does not supersede or replace any of the Company’s tax qualified retirement plans; the EDC Plan; Articles VI, VII, and VIII of the Employment Agreement; Exhibit A of each RSU award agreement or the survival provisions of the RSU award agreements; or any other obligation of Executive with respect to confidentiality, non-disclosure, non-competition, or non-solicitation, all of which shall remain in full force and effect in accordance with their terms and conditions, except as provided otherwise herein.
(g)    Counterparts.  This Agreement and the Release may be executed in one or more counterparts (including portable document format (.pdf) and facsimile counterparts), each of which shall be deemed to be an original, but all of which together will constitute one and the same Agreement or Release.
(h)    Third-Party Beneficiaries.  Each affiliate of the Employer or FINV that is not a signatory hereto shall be a third-party beneficiary of Executive’s covenants and release of claims set forth in this Agreement and the Release.
(i)    Amendment.  Neither this Agreement nor the Release may be changed orally, but only by an agreement in writing agreed to and signed by all Parties; provided, however, that the Company may, with prospective or retroactive effect, amend this Agreement or the Release at any time (to the extent Executive is not adversely affected by such amendment), if determined to be necessary, appropriate or advisable in response to administrative guidance issued under Section 409A or to comply with the provisions of Section 409A.
(j)    Notices.  For purposes of this Agreement, notices and other communications to the Parties shall be in writing and shall be deemed to have been duly given (a) when received if delivered personally or by courier, (b) on the date receipt is acknowledged if delivered by certified mail, postage prepaid, return receipt requested, or (c) on the date that transmission is sent if sent by facsimile transmission or electronic mail with confirmation of transmission, as follows:
	
					
	Employer, addressed to:
	 
	Frank's International, LLC
	 

	 
	 
	10260 Westheimer, Suite 700
	 

	 
	 
	Houston, TX 77042
	 

	 
	 
	Attention:  Alex Cestero
	 

	 
	 
	 
	 
	 

	 
	 
	Facsimile:
	(281) 558-2980
	 

	 
	 
	 
	(ATTN:  Alex Cestero)

7

	
					
	 
	 
	E-mail:
	alex.cestero@franksintl.com

	 
	 
	 
	or the then general counsel's

	 
	 
	 
	email address
	 

	 
	 
	 
	 
	 

	FINV, addressed to:
	 
	Frank's International N.V.
	 

	 
	 
	10260 Westheimer, Suite 700
	 

	 
	 
	Houston, TX 77042
	 

	 
	 
	Attention:
	Alex Cestero
	 

	 
	 
	 
	 
	 

	 
	 
	Facsimile:
	(281) 558-2980
	 

	 
	 
	 
	(ATTN:  General Counsel)

	 
	 
	E-mail:
	alex.cestero@franksintl.com

	 
	 
	 
	or the then general counsel's

	 
	 
	 
	email address
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	 
	 
	 
	 
	 

	with a copy to:
	 
	Vinson & Elkins LLP
	 

	 
	 
	1001 Fannin, Suite 2300
	 

	 
	 
	Houston, TX 77002
	 

	 
	 
	Attention:
	T. Mark Kelly and

	 
	 
	 
	David D'Alessandro

	 
	 
	Facsimile:
	(713) 615-5531 and

	 
	 
	 
	(214) 999-7890

	 
	 
	E-mail:
	mkelly@velaw.com and

	 
	 
	 
	ddalessandro@velaw.com

	 
	 
	 
	 
	 

	Executive, addressed to:
	 
	D. Keith Mosing
	 

	 
	 
	3240 Inwood Drive
	 

	 
	 
	Houston, TX 77019
	 

	 
	 
	 
	 
	 

	with a copy to:
	 
	Porter Hedges LLP
	 

	 
	 
	1000 Main, 36th Floor
	 

	 
	 
	Houston, TX 77002
	 

	 
	 
	Attention:
	Beverly Young and
	 

	 
	 
	 
	Joanne Vorpahl
	 

	 
	 
	Facsimile:
	(713) 226-6273 and
	 

	 
	 
	 
	(713) 226-6201
	 

	 
	 
	E-mail:
	byong@porterhedges.com

	 
	 
	 
	and

	 
	 
	 
	jvorpahl@porterhedges.com

8

(k)    Construction.  Titles and headings to Sections in this Agreement and the Release are for the purpose of reference only and shall in no way limit, define or otherwise affect the provisions hereof.  Unless the context requires otherwise, all references herein to an agreement, instrument or other document shall be deemed to refer to such agreement, instrument or other document as amended, supplemented, modified and restated from time to time to the extent permitted by the provisions thereof.  The word “or” as used herein is not exclusive and is deemed to have the meaning “and/or.”  The words “herein”, “hereof”, “hereunder” and other compounds of the word “here” shall refer to the entire Agreement and not to any particular provision hereof.  The use herein of the word ““include,” “includes” or “including” following any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation”, “but not limited to”, or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter.  Neither this Agreement (including the Release) nor any uncertainty or ambiguity herein shall be construed or resolved against any Party, whether under any rule of construction or otherwise.  On the contrary, this Agreement has been reviewed by each of the Parties and shall be construed and interpreted according to the ordinary meaning of the words used so as to fairly accomplish the purposes and intentions of the Parties.
(l)     Power of Attorney.  If Executive becomes incapacitated prior to the Separation Date or prior to his execution of the Release, his spouse with his duly authorized power of attorney may execute this Agreement on or prior to the Separation Date and may execute the Release on his behalf if executed and returned timely as provided herein.

[Signatures begin on the following page]

9

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement to be effective no later than December 31, 2015 and as of the last date that this Agreement is executed by a signatory Party thereto, which date is December 31, 2015.

	
	
	FRANK'S INTERNATIONAL, LLC

	 

	By:  /s/ Alex Cestero

	Name:  Alex Cestero

	Title:  SVP, General Counsel & Secretary

	Date:  December 31, 2015

	 

	 

	 

	FRANK'S INTERNATIONAL N.V.

	 

	By:  /s/ Alex Cestero

	Name:  Alex Cestero

	Title:  SVP, General Counsel & Secretary

	Date:  December 31, 2015

	 

	 

	 

	EXECUTIVE

	 

	 

	/s/ D. Keith Mosing

	D. Keith Mosing

	 

	Date:  December 31, 2015

	
				
	ACKNOWLEDGED BY:
	 
	 
	 

	 
	BOARD OF SUPERVISORY DIRECTORS
	 

	 
	FRANK'S INTERNATIONAL N.V.
	 

	 
	 
	 
	 

	 
	By:
	/s/ Michael Kearney
	 

	 
	 
	Name:  Michael Kearney
	 

	 
	 
	Title:  Lead Director
	 

	 
	 
	Board of Supervisory Directors
	 

	 
	 
	 
	 

	 
	 
	Date:  December 31, 2015
	 

EXHIBIT A

RELEASE AGREEMENT
This General Release of Claims (the “Release”) is entered into between DONALD KEITH MOSING (“Executive”), FRANK’S INTERNATIONAL, LLC (the “Employer”), and FRANK’S INTERNATIONAL N.V. (“FINV,” and collectively with the Employer, the “Company”).  For and in consideration of the mutual covenants and promises set out in this Release, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, Executive and the Company agree as follows. Capitalized terms used in this Release and not otherwise defined shall have the meaning given such terms in the Separation Agreement dated December 31, 2015 (the “Agreement”).
1.General Release.
(a)For good and valuable consideration, including the Company’s provision of any portion of those certain payments and benefits to Executive as specified and in accordance with Section 2 of the Agreement, Executive hereby releases, discharges, and forever acquits the Employer, FINV, each of their respective affiliates, and each of the foregoing entities’ respective past, present, and future stockholders, members, owners, investors, partners, directors, officers, managers, employees, agents, attorneys, heirs, legal representatives, successors, and assigns, as well as all employee benefit plans maintained by the Employer or any of its affiliates or subsidiaries and all fiduciaries and administrators of any such plan, in their personal and representative capacities (collectively, the “Employer Parties”), from liability for, and hereby waives, any and all claims, rights, damages, or causes of action of any kind related to Executive’s employment with any Employer Party, the termination of such employment, and any other acts or omissions related to any matter on or prior to the date of the execution of this Release by Employer (collectively, the “Released Claims”).
(b)The Released Claims include those arising under or related to (each as may have been amended):  • the Age Discrimination in Employment Act of 1967; • Title VII of the Civil Rights Act of 1964; • the Civil Rights Act of 1991; • sections 1981 through 1988 of Title 42 of the United States Code; • the Employee Retirement Income Security Act of 1974, including, but not limited to, sections 502(a)(1)(A), 502(a)(1)(B), 502(a)(2), and 502(a)(3) to the extent the release of such claims is not prohibited by applicable law; • the Immigration Reform Control Act; • the Americans with Disabilities Act of 1990; • the National Labor Relations Act; • the Occupational Safety and Health Act; • the Family and Medical Leave Act of 1993; • any state, local, or federal anti-discrimination or anti-retaliation law; • any state, local, or federal wage and hour law; • any other local, state, or federal law, regulation, or ordinance; • any public policy, contract, tort, or common law; • costs, fees, or other expenses including attorneys’ fees incurred in or with respect to a Released Claim; • any employment contract, incentive compensation plan, or stock option plan with any Employer Party or to any ownership interest in any Employer Party, except as expressly 

A-1

provided in Section 2 of the Agreement or Section 5.2 of the Employment Agreement, or as may be expressly provided in the RSU award agreements between Executive and the Employer; and • compensation or benefits of any kind not expressly set forth in Section 2 of the Agreement or Section 5.2 of the Employment Agreement or in any such RSU award agreement between Executive and the Employer.  
(c)In no event shall the Released Claims include • any claim which arises after the date of the execution of this Release by Executive including, without limitation, any breach by the Company of the Agreement or any surviving provision of the Employment Agreement as specified in the Agreement, • any claims for the payments and benefits payable to Executive under Section 2 of the Agreement, or (iii) claims that cannot be waived as a matter of law.
(d)Notwithstanding this release of liability, nothing in this Release prevents Executive from filing any non-legally waivable claim (including a challenge to the validity of this Release) with the Equal Employment Opportunity Commission (“EEOC”) or other governmental agency or from participating in any investigation or proceeding conducted by the EEOC or other governmental agency.  However, notwithstanding the foregoing, Executive understands and expressly agrees that Executive is waiving any and all rights to recover any monetary or personal relief or recovery as a result of any such EEOC (or other governmental agency) proceeding or subsequent legal actions.
(e)This Release is not intended to indicate that any such claims exist or that, if they do exist, they are meritorious.  Rather, Executive is simply agreeing that, in exchange for the consideration recited in the first sentence of Section 1(a) of this Release (and any portion thereof), any and all potential claims of this nature that Executive may have against the Employer Parties, regardless of whether they actually exist, are expressly settled, compromised, and waived.
(f)By signing this Release, Executive is bound by it.  Anyone who succeeds to Executive’s rights and responsibilities, such as heirs or the executor of Executive’s estate, is also bound by this Release.  This Release also applies to any claims brought by any person or agency or class action under which Executive may have a right or benefit.  THIS RELEASE INCLUDES MATTERS ATTRIBUTABLE TO THE SOLE OR PARTIAL NEGLIGENCE (WHETHER GROSS OR SIMPLE) OR OTHER FAULT, INCLUDING STRICT LIABILITY, OF ANY OF THE EMPLOYER PARTIES.
(g)Anything herein to the contrary notwithstanding, this Release does not constitute a release of any of Executive’s rights, nor any of the Company’s obligations or liabilities, under any indemnification provisions of the Company’s corporate charter, by-laws, certificate of incorporation, or similar governing documents, or under the Indemnification Agreement dated August 14, 2013 and entered into by FINV and Executive, or any of Executive’s rights under any directors’ and officers’ liability insurance policy, or any other insurance policy of which Executive 

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is a named or additional insured, which shall continue to be governed by the terms of such by-laws, policy, or agreement, and applicable law.
2.Covenant Not to Sue.  Executive agrees not to bring or join any lawsuit against any of the Employer Parties in any court or before any arbitral authority relating to any of the Released Claims.  Executive represents that Executive has not brought or joined any lawsuit or arbitration against any of the Employer Parties in any court or before any arbitral authority and has made no assignment of any rights Executive has asserted or may have against any of the Employer Parties to any person or entity, in each case, with respect to any Released Claims.
3.Executive’s Acknowledgments and Representations.  By executing and delivering this Release, Executive acknowledges that:
(a)    Executive has carefully read this Release; 
(b)    Executive has had at least twenty-one (21) days to consider this Release before the execution and delivery hereof to the Company pursuant to Section 2 of the Agreement;
(c)    Executive has been, and hereby is, advised in writing to discuss this Release with an attorney of Executive’s choice and Executive has had adequate opportunity to do so;
(d)    Executive is receiving, pursuant to the Release, consideration in addition to anything of value to which he is already entitled;
(e)    Executive fully understands the final and binding effect of this Release; the only promises made to Executive to sign this Release are those stated in the  Agreement and herein; and Executive is signing this Release voluntarily and of Executive’s own free will, and that Executive understands and agrees to each of the terms of this Release; and
(f)    Executive has received all leaves (paid and unpaid) to which Executive was entitled during his employment with the Employer and, other than (i) any sums owed to Executive pursuant to Section 2 of the Agreement, (ii) any vested sums owed to Executive but deferred pursuant to any qualified or nonqualified deferred compensation plan (including but not limited to the Employer’s 401(k) cash or deferred arrangement and the Employer’s EDC Plan), (iii) any amounts with respect to the outstanding RSU awards, (iv) any unpaid Base Salary that Executive may be owed for the pay period in which the Separation Date occurs or (v) claims in the ordinary course under the Company’s group health plan, Executive has received all wages, bonuses, severance, long or short-term incentive compensation, and  all other compensation and sums that Executive has been owed or ever could be owed by any Employer Party. The Company acknowledges that Executive is a participant in the Employer’s tax-qualified retirement plan and the Employer’s EDC Plan and that the effect of the termination of Executive’s employment on his rights (including the time of payment of any benefits) and obligations under said plans shall be governed and determined 

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by the terms of such respective plans, and that this Release does not constitute a release, waiver or modification of any of Executive’s right or benefits under any of such plans.
4.Revocation Right.  Executive may revoke this Release within the seven-day period beginning on the date Executive signs this Release (such seven day period being referred to herein as the “Release Revocation Period”).  To be effective, such revocation must be in writing signed by Executive and must be received by the General Counsel of the Employer, Alex Cestero, 10260 Westheimer, Suite 700 Houston, Texas 77042 (alex.cestero@franksintl.com) before 11:59 p.m., Houston, Texas time on the last day of the Release Revocation Period.  This Release is not effective, and no consideration shall be paid to Executive, until the expiration of the Release Revocation Period without Executive’s revocation.  If Executive dies after his execution of the Release but prior to the expiration of the Revocation Period, the Release and this Agreement will become effective at the expiration of the Revocation Period unless the personal representative of Executive’s estate revokes the Release in writing and as provided herein within the Revocation Period.  If an effective revocation is delivered in the foregoing manner and timeframe, neither the Employer nor FINV will provide Executive with any payment or benefit described in Section 1(a) of this Release, and all other terms of this Release and Section 2 of this Agreement shall become null and void ab initio and be of no force or effect.
Executed on this 31st day of December, 2015. 

	
	
	/s/ D. Keith Mosing

	D. Keith Mosing

	 

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