Document:

Exhibit
10.27

 

January       ,
2010

 

Global Geophysical
Services, Inc.

13927 South Gessner Road

Missouri City, TX 77489

 

Credit Suisse Securities
(USA) LLC

Barclays Capital Inc.

Tudor, Pickering, Holt &
Co. Securities, Inc.

 

c/o  Credit Suisse Securities (USA) LLC

Eleven Madison
Avenue

New York, NY 10010-3629

 

Dear Sirs:

 

As an inducement
to the Underwriters to execute the Underwriting Agreement, pursuant to which an
offering will be made that is intended to result in the establishment of a
public market for the Common Stock, par value $0.01 per share (the “Securities”) of Global Geophysical Services, Inc., and
any successor (by merger or otherwise) thereto, (the “Company”),
the undersigned hereby agrees that during the period specified in the following
paragraph (the “Lock-Up Period”),
the undersigned will not offer, sell, contract to sell, pledge or otherwise
dispose of, directly or indirectly, any shares of Securities or securities
convertible into or exchangeable or exercisable for any shares of Securities,
enter into a transaction which would have the same effect, or enter into any
swap, hedge or other arrangement that transfers, in whole or in part, any of
the economic consequences of ownership of the Securities, whether any such
aforementioned transaction is to be settled by delivery of the Securities or
such other securities, in cash or otherwise, or publicly disclose the intention
to make any such offer, sale, pledge or disposition, or to enter into any such
transaction, swap, hedge or other arrangement, without, in each case, the prior
written consent of Credit Suisse Securities (USA) LLC (“Credit Suisse”) and Barclays Capital Inc. (“Barclays”). 
In addition, the undersigned agrees that, without the prior written
consent of Credit Suisse and Barclays, it will not, during the Lock-Up Period,
make any demand for or exercise any right with respect to, the registration of
any Securities or any security convertible into or exercisable or exchangeable
for the Securities.

 

The initial
Lock-Up Period will commence on the date of this Lock-Up Agreement and continue
and include the date 180 days after the public offering date set forth on the
final prospectus used to sell the Securities (the “Public Offering Date”) pursuant to the Underwriting Agreement,
to which you are or expect to become a party; provided, however, that if (1) during
the last 17 days of the initial Lock-Up Period, the Company releases earnings
results or material news or a material event relating to the Company occurs or (2) prior
to the expiration of the initial Lock-Up Period, the Company announces that it
will release earnings results during the 16-day period beginning on the last
day of the initial Lock-Up Period, then in each case the Lock-Up Period will be
extended until the expiration of the 18-day period beginning on the date of
release of the earnings results or the occurrence of the material news or
material event, as applicable, unless each of Credit Suisse and Barclays waives,
in writing, such extension.

 

The undersigned
hereby acknowledges and agrees that written notice of any extension of the
Lock-Up Period pursuant to the previous paragraph will be delivered by Credit
Suisse to the Company (in accordance with Section 10 of the Underwriting
Agreement) and that any such notice properly delivered will be deemed to have been
given to, and received by, the undersigned. 
The undersigned further agrees that, prior to engaging in any
transaction or taking any other action that is subject to the terms of this
Lock-Up Agreement during the period from the date of this Lock-Up Agreement to
and including the 34th day following the expiration of the initial
Lock-Up Period, it will give notice thereof to the Company and will not
consummate such transaction or take any such action unless it has received
written confirmation from the Company that the Lock-Up Period (as may have been
extended pursuant to the previous paragraph) has expired.

 

Any Securities
received upon exercise of options granted to the undersigned will also be
subject to this Agreement.  Any
Securities acquired by the undersigned in the open market will not be subject
to this Agreement.  A

 

 

transfer of Securities to
a family member or trust may be made, provided the transferee agrees to be
bound in writing by the terms of this Agreement prior to such transfer and no
filing by any party (donor, donee, transferor or transferee) under the
Securities Exchange Act of 1934 shall be required or shall be voluntarily made
in connection with such transfer (other than a filing on a Form 5 made after
the expiration of the Lock-Up Period).

 

In furtherance of
the foregoing, the Company and its transfer agent and registrar are hereby
authorized to decline to make any transfer of shares of Securities if such
transfer would constitute a violation or breach of this Agreement.

 

This Agreement
shall be binding on the undersigned and the successors, heirs, personal
representatives and assigns of the undersigned. 
This Agreement shall lapse and become null and void if the Public
Offering Date shall not have occurred on or before December 31, 2010.  This
agreement shall be governed by, and construed in accordance with, the laws of
the State of New York.

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [Name of
  stockholder]Exhibit 10.28

 

December 1, 2006

 

Kelso & Company,
L.P.

320 Park Avenue, 24th Floor

New York, New York 10022

 

Ladies and Gentlemen:

 

Global
Geophysical Services, Inc. (the “Company”) hereby acknowledges that
Kelso & Company, L.P. (“Kelso”) has provided consulting and
advisory services to the Company in connection with, among other matters, Kelso’s
investment in the Company through its purchase of a certain amount of shares of
the Company’s Series A Convertible Preferred Stock (the “Transaction”).  In consideration of the services rendered in
connection with the Transaction, the Company hereby agrees to reimburse Kelso
on the date hereof for Kelso’s reasonable out-of-pocket costs and expenses
incurred in connection with the Transaction through the date hereof.

 

From
time to time following the closing of the Transaction until such date on which
Kelso and its affiliates cease to own any equity interest in the Company, Kelso
or any of its affiliates or designees (collectively, the “Kelso Group”),
may, at the request of the Board of Directors of the Company, provide
consulting and advisory services to the Company.  Such services may include (i) assisting
in the raising of additional debt and equity capital from time to time for the
Company, if deemed advisable by the Board of Directors of the Company, (ii) assisting
the Company in its long-term strategic planning generally, (iii) providing
the Company with financial, investment banking, management advisory and other
services with respect to proposed transactions, including, without limitation,
an initial public offering, directly or indirectly involving the Company or any
of its subsidiaries (collectively, the “Transaction Services”) and (iv) providing
such other consulting and advisory services as the Company may reasonably
request.  There shall be no fee to the
Company in consideration of the Kelso Group’s providing such services.

 

The
Company shall reimburse the Kelso Group promptly for the Kelso Group’s
reasonable out-of-pocket costs and expenses incurred in connection with any
investment by the Kelso Group in the Company after the date hereof.  Such costs and expenses shall include, but
not be limited to, those incurred by the Kelso Group in the course of
monitoring its investment in the Company and performing Kelso’s duties
(including, without limitation, Transaction Services) hereunder.

 

The
Company will indemnify each member of the Kelso Group, and their respective
officers, directors, partners, employees, agents and control persons (as such
term is used in the Securities Act of 1933, as amended, and the rules and
regulations thereunder) to the full extent lawful against any and all claims,
losses and expenses as incurred (including all reasonable fees and
disbursements of any such indemnitee’s counsel and other out-of-pocket expenses
incurred in connection with the investigation of and preparation for any such
pending or threatened claims and any litigation or other proceedings arising
therefrom) arising from a claim (other than by a 

 

 

member of the Kelso Group)
in connection with the Transaction or any additional equity investment by the
Kelso Group, whether as a result of the Transaction or such additional
investment or in connection with any services rendered by the Kelso Group
hereunder or any such indemnitee being a controlling person of the Company or
any of its subsidiaries, provided, however, there shall be
excluded from such indemnification any such claim, loss or expense to the
extent that it is based upon any action or failure to act by such indemnitee
that is found in a final judicial determination to constitute gross negligence
or intentional misconduct on such indemnitee’s part.  The Company will advance reasonable costs and
expenses, including attorney’s fees, incurred by any such indemnitee in defending
any such claim in advance of the final disposition of such claim upon receipt
of an undertaking by or on behalf of such indemnitee to repay amounts so
advanced if it shall ultimately be determined that such indemnitee is not
entitled to be indemnified by the Company pursuant to this letter agreement.

 

The
Company’s obligations set forth in this letter agreement shall survive the
termination of Kelso’s services pursuant to this letter agreement.  This letter agreement may not be amended or
revised except by a writing signed by the parties.  This letter agreement shall be governed by
the laws of the State of New York.

 

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