Document:

ex_343276.htm

Exhibit 10.2

 

Execution Version 

 

DIRECTOR NOMINATION AGREEMENT

 

This DIRECTOR NOMINATION AGREEMENT (this “Agreement”) is entered into on March 10, 2021 to be effective as of the Effective Time by and among the Mosing Parties (as defined herein), Oak Hill Advisors, L.P., a Delaware limited partnership (“Oak Hill”), Frank's International N.V., a public company organized under the laws of the Netherlands (the “Company”), and any other member of Expro (as defined below) validly executing a joinder to this Agreement in accordance with Section 6.10 hereof (each, a “Joinder Shareholder”). The Mosing Parties, Oak Hill and any Joinder Shareholder are sometimes referred to herein as the “Shareholders” and the Shareholders and the Company are sometimes referred to herein individually as a “Party” and collectively as the “Parties”.

 

WITNESSETH:

 

WHEREAS, on the date hereof, the Company, New Eagle Holdings Limited, an exempted company limited by shares incorporated under the laws of the Cayman Islands and a direct wholly owned subsidiary of the Company, and Expro Group Holdings International Limited, an exempted company limited by shares incorporated under the laws of the Cayman Islands (“Expro”), entered into that certain Agreement and Plan of Merger (as may be amended from time to time, the “Merger Agreement”);

 

WHEREAS, pursuant to the Merger Agreement and at the Effective Time, each ordinary share of common stock, par value $0.01, of Expro, including those held by the Oak Hill Group and any Joinder Shareholder immediately prior to the Effective Time, will be converted into the right to receive common shares in the capital of the Company (“Company Common Stock”) in an amount set forth in the Merger Agreement;

 

WHEREAS, in connection with the Merger Agreement and at the Effective Time, the Articles of Association of the Company will be amended to, among other things, provide for a one-tier board structure to replace the Company’s existing two-tier board structure; and

 

WHEREAS, the Parties desire to enter into this Agreement in order to, among other things, provide for certain corporate governance and related corporate matters.

 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Parties hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

Section 1.1    Certain Definitions. For purposes of this Agreement, the following terms shall have the meanings specified in this Section 1.1.

 

“Affiliate” means, as to any Person, another Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such first Person and, in respect of a Shareholder, any investment fund, vehicle, holding company or separately managed account, in each case, for which such Shareholder, the discretionary manager or advisor of such Shareholder, or any Affiliate of such Shareholder serves as the general partner, managing member or discretionary manager or advisor; provided that limited partners, non-managing members or other similar direct or indirect investors in such Shareholder (in their capacities as such) shall not be deemed to be Affiliates of such Shareholder; provided, further, that none of the Shareholders shall be deemed to be Affiliates of the Company or any of its Subsidiaries for purposes of this Agreement and neither the Company nor any of its Subsidiaries shall be deemed to be Affiliates of the Shareholders for purposes of this Agreement.

 

 

 

 

 

“Agreement” has the meaning set forth in the preamble.

 

“beneficial ownership,” including the correlative terms “beneficially own,” “beneficial owner,” “own,” and “beneficially owning,” has the meaning ascribed to such term in Section 13(d) of the Securities Exchange Act of 1934, as amended.

 

“Board” means the board of directors of the Company following the amendment to the Articles of Association of the Company to provide for a one-tier board structure as described in the recitals to this Agreement.

 

“Business Day” means any day other than a Saturday, Sunday or a day on which banking institutions located in Houston, Texas or New York, New York are authorized pursuant to a Law to be closed and shall consist of the time period from 12:01 a.m. through 12:00 midnight at such locations.

 

“Closing Shares” has the meaning set forth in Section 3.2(a).

 

“Company” has the meaning set forth in the preamble.

 

“Company Common Stock” has the meaning set forth in the recitals.

 

“Company Confidential Information” has the meaning set forth in Section 4.1(b).

 

“Company Group” means the Company, each Subsidiary of the Company from and after the Closing (in each case so long as such Subsidiary remains a Subsidiary of the Company) and each other Person that is controlled either directly or indirectly by the Company from and after the Closing (in each case for so long as such Person continues to be controlled either directly or indirectly by the Company).

 

“Company Independent Director” means each non-executive director of the Company who (i) is not a Mosing Director, Oak Hill Director or Joinder Shareholder Director, (ii) (A) for so long as this Agreement has not terminated with respect to the Oak Hill Group, is not a director, officer or employee of, any member of the Oak Hill Group, (B) for so long as this Agreement has not terminated with respect to the Mosing Parties, is not a Mosing Family Member, (C) for so long as this Agreement has not terminated with respect to a Joinder Shareholder Group, is not a director, officer or employee of, any member of such Joinder Shareholder Group and (D) has been determined by the Nominating and Governance Committee of the Company in good faith not to have any relationship with any Mosing Party or Mosing Family Member, the Oak Hill Group or any Joinder Shareholder Group, as applicable, that would be material to the director’s ability to be independent from a Mosing Family Member, the Oak Hill Group or such Joinder Shareholder Group, respectively, (iii) is independent under the NYSE listing rules and, if applicable, the Dutch Corporate Governance Code unless any deviation from such Code is explained in the Statutory Dutch Annual Report of the Company and (iv) is designated by the Nominating and Governance Committee of the Company as a Company Independent Director.

 

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“control” (including, with correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise.

 

“Designator” means (i) the Mosing Parties holding the majority of Company Common Stock owned by the Mosing Parties, (ii) Oak Hill and (iii) the holders of the majority of Company Common Stock owned by a Joinder Shareholder Group.

 

“Effective Time” means the time at which the Merger shall become effective as specified in the Plan of Merger.

 

“Entity” means any corporation (including any nonprofit corporation), general partnership, limited partnership, limited liability partnership, joint venture, estate, trust, company (including any company limited by shares, limited liability company, or joint stock company), firm, society, or other enterprise, association, organization, or entity.

 

“Expro” has the meaning set forth in the recitals.

 

“Family Member” means with respect to any Person, a spouse, lineal ancestor, lineal descendent, legally adopted child, brother or sister of any such Person, or a lineal descendent or legally adopted child of a brother or sister of such Person.

 

“Governmental Body” means any: (i) nation, state, commonwealth, province, territory, region, county, city, municipality, district, or other jurisdiction of any nature; (ii) federal, state, local, municipal, non-U.S., or other government; (iii) governmental or quasi-governmental authority of any nature (including any governmental division, department, agency, commission, instrumentality, official, organization, unit, body, or Entity and any court, employment tribunal or other tribunal); or (iv) arbitrator or arbitration authority.

 

“Information” means information, whether or not patentable or copyrightable, in written, oral, electronic or other tangible or intangible forms, stored in any medium, including studies, reports, records, books, contracts, instruments, surveys, discoveries, ideas, concepts, know-how, techniques, designs, specifications, drawings, blueprints, diagrams, models, prototypes, samples, flow charts, data, computer data, disks, diskettes, tapes, computer programs or other object and source code versions of computer programs and associated documentation, training materials and configurations to use and modify such programs, including programmer, administrator, end user and other documentation, marketing plans, customer names, communications by or to attorneys (including attorney-client privileged communications), memoranda and other materials prepared by attorneys or under their direction (including attorney work product), and other technical, financial, employee or business information or data.

 

“Joinder Shareholder” has the meaning set forth in the preamble.

 

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“Joinder Shareholder Designee” has the meaning set forth in Section 3.2(b)(i).

 

“Joinder Shareholder Director” has the meaning set forth in ‎Section 3.2(b)(iii).

 

“Joinder Shareholder Group” means any Joinder Shareholder and its Affiliates. For the avoidance of doubt, for the purposes of this Agreement no member of the Company Group shall be a member of a Joinder Shareholder Group and none of the Mosing Parties or Oak Hill (nor any of their respective Affiliates) shall be a member of a Joinder Shareholder Group.

 

“Joinder Shareholder Representative” has the meaning set forth in Section 6.11(c).

 

“Law” means any law, statute, constitution, principle of common law, resolution, ordinance, code, edict, decree, rule, regulation, ruling, or requirement issued, enacted, adopted, promulgated, implemented, or otherwise put into effect by or under the authority of any Governmental Body (or under the authority of the NYSE or any other stock exchange on which the Company Common Stock is listed).

 

“Legal Proceeding” means any demand, action, claim, dispute, suit, countersuit, arbitration, inquiry, proceeding or investigation by or before any federal, state, local, foreign or international Governmental Body or any arbitration or mediation tribunal.

 

“Mosing Designee” has the meaning set forth in Section 3.2(c)(i).

 

“Mosing Director” has the meaning set forth in Section 3.2(c)(ii).

 

“Mosing Family Member” means the Persons set forth on Exhibit B, any Person who is a Family Member of such Persons, and each of their respective Affiliates (including trusts established for the benefit of the foregoing Persons).

 

“Mosing Parties” means the Shareholders executing this Agreement under the heading “Mosing Parties” on the signature pages hereto.

 

“Mosing Representative” has the meaning set forth in Section 6.11(a).

 

“Merger Agreement” has the meaning set forth in the recitals.

 

“Necessary Action” means, with respect to the requirement that any Party take action to achieve a specified result, all actions (to the extent such actions are permitted by Law and within such party’s control) necessary to cause such result, including (i) voting or providing a written consent or proxy with respect to the Company Common Stock owned by such party, (ii) causing the adoption of shareholders’ resolutions and amendments to the organizational documents of the Company, (iii) executing agreements and instruments and (iv) making, or causing to be made with Governmental Bodies, all filings, registrations or similar actions that are required to achieve such result.

 

“Non-Shareholder Designee” has the meaning set forth in Section 3.2(g).

 

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“Non-Shareholder Director” has the meaning set forth in Section 3.2(g).

 

“NYSE” means the New York Stock Exchange.

 

“Oak Hill Designee” has the meaning set forth in Section 3.2(a)(i).

 

“Oak Hill Director” has the meaning set forth in Section 3.2(a)(iii).

 

“Oak Hill Group” means Oak Hill and its Affiliates. For the avoidance of doubt, for the purposes of this Agreement no member of the Company Group shall be a member of the Oak Hill Group.

 

“Oak Hill Representative” has the meaning set forth in Section 6.11(b).

 

“Other Shareholder” means, with respect to any member of a Shareholder Group, a holder or beneficial owner of Company Common Stock that is not a member of such Shareholder Group.

 

“Party” and collectively, “Parties”, has the meaning set forth in the preamble.

 

“Person” means an individual, Entity or Governmental Body.

 

“Recipient” has the meaning set forth in Section 4.1(a).

 

“Relevant Agreements” means (i) the Company Voting Agreements and Parent Voting Agreements entered into on the date hereof by and among the Company, Expro and the Mosing Parties, Oak Hill and certain other members of Expro, (ii) the Registration Rights Agreement (Expro Holders) entered into on the date hereof by and among the Company and the members of Expro party thereto, (iii) the Registration Rights Agreement (Mosing Holders), as amended through the date hereof, by and among the Company and certain shareholders of the Company and (iv) the Merger Agreement.

 

“Representatives” has the meaning set forth in Section 4.1(a).

 

“Shareholder” or “Shareholders” has the meaning set forth in the preamble.

 

“Shareholder Designees” has the meaning set forth in Section 3.2(c)(i).

 

“Shareholder Directors” refers to, collectively, each Mosing Director, each Oak Hill Director and, if applicable, each Joinder Shareholder Director.

 

“Shareholder Group” means each of (i) the Mosing Parties, (ii) the Oak Hill Group and (iii) any Joinder Shareholder Group, and their respective successors and assigns, and references to “members” of any such Shareholder Group mean any Person falling within the applicable definition of such Shareholder Group.

 

“Subsidiary” means, with respect to a Person, (i) another Person that is, directly or indirectly, through one or more intermediaries, controlled by such first Person or (ii) another Person in which such first Person directly or indirectly, through one or more intermediaries, owns, beneficially or of record, (A) an amount of voting securities or other interests in such Person sufficient to enable such first Person to elect at least a majority of the members of such Person’s board of directors or other governing body, or (B) at least 50% of the outstanding equity or financial interests of such Person.

 

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“Termination Date” has the meaning set forth in Section 2.1.

 

Section 1.2    Definitions Incorporated from Merger Agreement. Capitalized terms used but not defined herein shall have the meanings given in the Merger Agreement.

 

ARTICLE II

TERM

 

Section 2.1    Term and Termination. This Agreement is effective as of the date hereof and shall terminate automatically (a) with respect to Oak Hill, on the first date that the Oak Hill Group, based on its collective ownership of Company Common Stock, would no longer have the right to nominate an Oak Hill Designee pursuant to Section 3.2(a), (b) with respect to any Joinder Shareholder, on the first date that such Joinder Shareholder’s Joinder Shareholder Group, based on its collective ownership of Company Common Stock, would no longer have the right to nominate a Joinder Shareholder Designee pursuant to Section 3.2(b), (c) with respect to the Mosing Parties, on the first date that the Mosing Parties, based on the collective ownership of Company Common Stock by the Mosing Family Members, would no longer have the right to nominate a Mosing Designee pursuant to Section 3.2(c), (d) with respect to the Company, on the first date that no Designator has the right to nominate a Shareholder Designee pursuant to Section 3.2, and (e) with respect to each of the Parties, if the Merger Agreement is terminated prior to the Effective Time, at the time of such termination. Notwithstanding the foregoing, the provisions of Section 4.1, Article V and Article VI, and any claim for breach of the covenants set forth in this Agreement, shall survive the termination of this Agreement. The date that this Agreement terminates with respect to any Party, as applicable, is referred to herein as such Party’s “Termination Date.”

 

ARTICLE III

CORPORATE GOVERNANCE MATTERS

 

Section 3.1    Board Composition. The Board immediately following the Effective Time shall initially consist of the Parent Designated Directors and the Company Designated Directors.  

 

Section 3.2    Director Nomination Rights.

 

(a)    Commencing with the annual general meeting of shareholders of the Company held in 2022, in connection with any annual or extraordinary general meeting of the shareholders of the Company at which the election of one or more non-executive directors is a voting item on the agenda for such meeting, if the Oak Hill Group receives shares of Company Common Stock in the Merger pursuant to the Merger Agreement equal to at least 20% of the number of outstanding shares of Company Common Stock as of the Effective Time (after giving effect to the issuance of Company Common Stock in the Merger pursuant to the Merger Agreement) (the “Closing Shares”), then:

 

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(i)    for so long as the Oak Hill Group collectively owns shares of Company Common Stock equal to at least 20% of the number of Closing Shares (as adjusted for stock splits, reverse stock splits, stock dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like), Oak Hill shall have the right to designate two persons as its nominees for election to the Board as non-executive directors (each, an “Oak Hill Designee”) (unless two Oak Hill Directors are already serving as non-executive directors of the Company and shall continue to serve as such following the relevant general meeting of shareholders of the Company);

 

(ii)    for so long as the Oak Hill Group collectively owns shares of Company Common Stock equal to at least 10% (but less than 20%) of the number of Closing Shares (as adjusted for stock splits, reverse stock splits, stock dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like), Oak Hill shall have the right to designate one Oak Hill Designee for election to the Board as non-executive director (unless an Oak Hill Director is already serving as a non-executive director of the Company and shall continue to serve as such following the relevant general meeting of shareholders of the Company) and Oak Hill shall thereafter no longer have the right to designate, collectively, two Oak Hill Designees pursuant to this Agreement; and

 

(iii)    upon the Oak Hill Group ceasing to collectively own shares of Company Common Stock equal to at least 10% of the number of Closing Shares (as adjusted for stock splits, reverse stock splits, stock dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like), Oak Hill shall thereafter not have the right to designate any Oak Hill Designee pursuant to this Agreement. Any Oak Hill Designee that is serving on the Board is referred to herein an “Oak Hill Director.”

 

(b)    Commencing with the annual general meeting of shareholders of the Company held in 2022, in connection with any annual or extraordinary general meeting of the shareholders of the Company at which the election of one or more non-executive directors is a voting item on the agenda for such meeting, if any Joinder Shareholder Group receives shares of Company Common Stock in the Merger pursuant to the Merger Agreement equal to at least 20% of the number of Closing Shares, then:

 

(i)    for so long as such Joinder Shareholder Group collectively owns shares of Company Common Stock equal to at least 20% of the number of Closing Shares (as adjusted for stock splits, reverse stock splits, stock dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like), the members of such Joinder Shareholder Group holding the majority of the Company Common Stock owned by such Joinder Shareholder Group shall collectively have the right to designate two persons as the nominees for such Joinder Shareholder Group for election to the Board as non-executive directors (each, a “Joinder Shareholder Designee”) (unless two Joinder Shareholder Directors for such Joinder Shareholder Group are already serving as non-executive directors of the Company and shall continue to serve as such following the relevant general meeting of shareholders of the Company);

 

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(ii)    for so long as such Joinder Shareholder Group collectively owns shares of Company Common Stock equal to at least 10% (but less than 20%) of the number of Closing Shares (as adjusted for stock splits, reverse stock splits, stock dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like), the members of such Joinder Shareholder Group holding the majority of Company Common Stock owned by such Joinder Shareholder Group shall collectively have the right to designate one Joinder Shareholder Designee for such Joinder Shareholder Group for election to the Board as non-executive director (unless a Joinder Shareholder Director for such Joinder Shareholder Group is already serving as a non-executive director of the Company and shall continue to serve as such following the relevant general meeting of shareholders of the Company) and such members of the Joinder Shareholder Group shall thereafter no longer have the right to designate, collectively, two Joinder Shareholder Designees pursuant to this Agreement;

 

(iii)    upon such Joinder Shareholder Group ceasing to collectively own shares of Company Common Stock equal to at least 10% of the number of Closing Shares (as adjusted for stock splits, reverse stock splits, stock dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like), such Joinder Shareholder Group shall thereafter not have the right to designate any Joinder Shareholder Designee pursuant to this Agreement. Any Joinder Shareholder Designee that is serving on the Board is referred to herein as a “Joinder Shareholder Director”; and

 

(iv)    notwithstanding anything herein to the contrary (A) a number of Company Designated Directors equal to the number of Joinder Shareholder Designees being designated as nominees for election to the Board at such general meeting of shareholders shall not be designated as nominees for election to the Board at such general meeting of shareholders by the Nominating and Governance Committee pursuant to Section 3.2(g) and (B) if the number of Non-Shareholder Designees being designated as nominees for election to the Board at such general meeting of shareholders by the Nominating and Corporate Governance Committee is insufficient for the Nominating and Governance Committee to comply with the proviso contained in Section 3.2(g), then at least one designee of any Shareholder that is entitled in connection with such general meeting of shareholders to designate two nominees for election to the Board shall be a person that qualifies as a Company Independent Director, other than pursuant to clause (i) of such definition.

 

(c)    Commencing with the annual general meeting of shareholders of the Company held in 2022, in connection with any annual or extraordinary general meeting of the shareholders of the Company at which the election of one or more non-executive directors is a voting item on the agenda for such meeting:

 

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(i)    for so long as the Mosing Family Members collectively own shares of Company Common Stock equal to at least 10% of the number of Closing Shares (as adjusted for stock splits, reverse stock splits, stock dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like), the Mosing Parties holding the majority of Common Stock owned by the Mosing Parties shall have the right to designate one person as their nominee for election to the Board as non-executive director (the “Mosing Designee” and, together with any Oak Hill Designee or any Joinder Shareholder Designee, a “Shareholder Designee”) (unless a Mosing Director is already serving as a non-executive director of the Company and shall continue to serve as such following the relevant general meeting of shareholders of the Company); and

 

(ii)    upon the Mosing Family Members ceasing to collectively own shares of Company Common Stock equal to at least 10% of the number of Closing Shares (as adjusted for stock splits, reverse stock splits, stock dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like), the Mosing Parties shall thereafter not have the right to designate a Mosing Designee pursuant to this Agreement. Any Mosing Designee that is serving on the Board is referred to herein as a “Mosing Director.”

 

(d)    For the avoidance of doubt, except as set forth in this Section 3.2, directors will serve until the earlier of such director’s death, resignation or removal or the close of the next annual general meeting of shareholders of the Company held after their most recent election or re-election, and this Section 3.2(d) does not bestow nomination rights on the relevant Mosing Parties, Oak Hill or any applicable Joinder Shareholder to the extent that a Mosing Director, one or two Oak Hill Directors and/or one or two Joinder Shareholder Directors, respectively, is/are already serving as member(s) of the Board at the time of the relevant meeting of shareholders of the Company being convened and shall continue to serve as such following such meeting.

 

(e)    Subject to Section 3.2(b)(iv), a Shareholder Designee is not required to qualify as a Company Independent Director but must satisfy any other applicable requirements for service on the Board set forth in the Articles of Association of the Company, the Dutch Corporate Governance Code unless any deviation from such Code is explained in the Statutory Dutch Annual Report of the Company (if applicable), and the rules and regulations of the NYSE or applicable Law.

 

(f)    Each Shareholder Designee shall have a fiduciary duty to act in the interest of the Company and its business, to promote the sustainable success of the Company and to take into account the interests of all stakeholders of the Company in accordance with the standards required by applicable Law.

 

(g)    In connection with any general or extraordinary meeting of shareholders of the Company at which the election of one or more non-executive directors is a voting item on the agenda for such meeting, the Nominating and Governance Committee of the Company shall have the right to designate persons as nominees for election as non-executive director of the Company for each vacancy on the Board for which a Designator is not entitled to designate a Shareholder Designee (such designee a “Non-Shareholder Designee” and each such designee serving on the Board and each of the Company Independent Directors initially elected to serve on the Board by the Company in accordance with Section 3.1, a “Non-Shareholder Director”); provided, however, that the Nominating and Governance Committee of the Company shall nominate a sufficient number of individuals who qualify as Company Independent Directors so that the Board (taking into account the Mosing Director, the Oak Hill Directors, any Joinder Shareholder Directors and the individuals nominated by the Nominating and Governance Committee of the Company) will consist of a majority of Company Independent Directors and otherwise satisfy the requirements of the NYSE, the Dutch Corporate Governance Code unless any deviation from such Code is explained in the Statutory Dutch Annual Report of the Company (if applicable), and applicable Law.

 

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(h)    The Company shall cause a binding nomination to be made for the election of each Shareholder Designee and Non-Shareholder Designee designated in accordance with Section 3.2(a) through Section 3.2(c) and Section 3.2(g) to the relevant general meeting of shareholders of the Company and shall cause each such person to be included in the Company’s proxy materials and form of proxy disseminated to shareholders in connection with the election of directors (including any extraordinary meeting of shareholders held for the election of directors). The Company shall use its reasonable best efforts to cause the election of each such Shareholder Designee and Non-Shareholder Designee, including soliciting proxies in favor of the election of such persons. The Company shall not be required to take the actions stipulated in the foregoing provisions of this Section 3.2(h) with respect to a Shareholder Designee if the Company reasonably believes that such Shareholder Designee does not satisfy the requirements for service on the Board set forth in the Articles of Association of the Company, the rules and regulations of the NYSE, the Dutch Corporate Governance Code unless any deviation from such Code is explained in the Statutory Dutch Annual Report of the Company (if applicable), or applicable Law.

 

(i)    In the event that a Shareholder Director shall cease to serve as a non-executive director of the Company for any reason, the vacancy resulting therefrom shall be filled by the Board with a substitute individual, designated by the Designator that designated such Shareholder Director so long as such Designator would, at the time of such designation, have the right to designate a Shareholder Designee pursuant to this Section 3.2. Otherwise, such substitute individual shall be designated by the Board at the recommendation of the Nominating and Governance Committee of the Company.

 

(j)    In the event that a Non-Shareholder Director shall cease to serve as a non-executive director for any reason, the vacancy resulting therefrom shall be filled by the Board with a substitute individual designated by the Board at the recommendation of the Nominating and Governance Committee of the Company.

 

(k)    A substitute individual designated pursuant to Section 3.2(i) or Section 3.2(j) shall, subject to applicable Law, have all rights, tasks, duties and responsibility of a non-executive director of the Company until that person (or an alternate Shareholder Designee or Non-Shareholder Designee, as applicable) is elected as a Shareholder Director or Non-Shareholder Director in accordance with this Section 3.2.

 

(l)    For the avoidance of doubt, each Designator shall have the right, in its sole discretion, to waive any and all of the rights granted to it under this Section 3.2, by delivery of written notice to the Company.

 

(m)‎     Each Designator shall (i) upon making its designation pursuant to this Section 3.2, in the case of the Mosing Designee, provide evidence of the Company Common Stock held by the Mosing Family Members, in the case of the Oak Hill Designee, provide evidence of the Company Common Stock held by the Oak Hill Group and in the case of the Joinder Shareholder Designee, provide evidence of the Company Common Stock held by the applicable Joinder Shareholder Group and (ii) if the Company so requests, make such designation by such date requested by the Company, which request shall be made at least 30 days in advance of such requested date.

 

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Section 3.3    Shareholders Agreement to Vote. From and after the date hereof, except as provided in ‎Section 3.4, each Shareholder shall and shall cause each of its controlled Affiliates to:

 

(a)    cause the shares of Company Common Stock owned by such Person to be present for quorum purposes at any Company shareholder meeting at which directors shall be elected; and

 

(b)    cause the shares of Company Common Stock owned by such Person to be voted (or take action by written consent) in favor of the election of each Shareholder Designee.

 

Section 3.4    Meeting of Shareholders. Except with respect to the filling of vacancies on the Board in accordance with Section 3.2, the Company shall take all Necessary Action to conduct the election or removal of members of the Board only at a general meeting of shareholders and not at an extraordinary meeting of shareholders. Each Shareholder will not vote in favor of nominations made by shareholders that are not a party to this Agreement or which have not otherwise been recommended by the Board.

 

ARTICLE IV

OTHER AGREEMENTS

 

Section 4.1    Sharing of Information; Confidentiality.

 

(a)    To the extent permitted by antitrust, competition or any other applicable Law, the Parties agree that (i) a Shareholder Director may share Company Confidential Information with the members of the Shareholder Group of the Designator that designated such Shareholder Director (a “Recipient”) and (ii) any Recipient may share Company Confidential Information with its controlled Affiliates and its and their respective officers, directors, employees, accountants, consultants, agents, legal counsel, financial advisors and other representatives who reasonably need to know such information in providing services to such Recipient (collectively, “Representatives”), subject to the provisions of this Article IV, and except to the extent sharing such information would reasonably be expected to result in a loss of privilege with respect to legal advice.

 

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(b)    During the term of this Agreement and for a period of one year following the Termination Date with respect to a Recipient, subject to Section 4.1(c) and except as contemplated by this Agreement or any Relevant Agreement, such Recipient shall not, and shall cause its Representatives not to, directly or indirectly, disclose, reveal, divulge or communicate to any Person, any Company Confidential Information. Each Recipient shall, and shall cause its Affiliates to, use the same degree of care to prevent and restrain the unauthorized disclosure of the Company Confidential Information by it or any of its or their Representatives as they currently use for their own confidential information of a like nature. For purposes of this Section 4.1(b), any Information, material or documents relating to the business currently or formerly conducted, or proposed to be conducted, by any member of the Company Group furnished to or in possession of any Recipient, irrespective of the form of communication, and all notes, analyses, compilations, forecasts, data, translations, studies, memoranda or other documents prepared by any Recipient or its Representatives, that contain or otherwise reflect such information, material or documents is hereinafter referred to as “Company Confidential Information.” Company Confidential Information does not include, and there shall be no obligation hereunder with respect to, information that (i) is or becomes generally available to the public, other than as a result of a use or disclosure by any Recipient or Representative not otherwise permissible hereunder, (ii) a Recipient can demonstrate was or became available to a Recipient or Representative from a source other than the Company or its Affiliates or a Shareholder Designee or (iii) is developed independently by a Recipient or Representative without reference to the Company Confidential Information; provided, however, that, in the case of clause (ii), the source of such information was not known by such Recipient or Representative to be bound by a confidentiality agreement with, or other contractual, legal or fiduciary obligation of confidentiality to, any member of the Company Group with respect to such information.

 

(c)    If any Recipient or its Affiliate is requested or required (by oral question, interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process) by any administrative or regulatory authority or other Governmental Body or pursuant to applicable Law or stock exchange requirements to disclose or provide any Company Confidential Information (other than with respect to any such information furnished pursuant to the provisions of Section 5.1 of this Agreement), the Person receiving such request or demand, or so required by applicable Law or stock exchange requirements, shall provide the Company with written notice of such request, demand or requirement as promptly as practicable under the circumstances so that the Company shall have an opportunity to seek an appropriate protective order, and such Recipient agrees to take, and cause its Representatives to take, at the Company’s expense, all other reasonable steps necessary to obtain confidential treatment with respect to such Company Confidential Information. Subject to the foregoing, such Recipient may thereafter disclose or provide any Company Confidential Information to the extent it is advised by legal counsel that it is required by such Law or stock exchange requirement or by lawful process or such Governmental Body.

 

ARTICLE V

DISPUTE RESOLUTION

 

Section 5.1    Governing Law; Exclusive Jurisdiction; Waiver of Jury Trial.

 

(a)    This Agreement shall be governed by, and construed in accordance with, the Laws of the State of New York, without regard to any applicable principles of conflicts of law that might require the application of the Laws of any other jurisdiction.

 

12

 

 

(b)    In any action or proceeding between any of the Parties arising out of or relating to this Agreement, each of the Parties: (i) irrevocably and unconditionally consents and submits to the exclusive jurisdiction and venue of the Supreme Court of the State of New York, County of New York or to the extent such court does not have subject matter jurisdiction, the United States District Court for the Southern District of New York, (ii) agrees that all claims in respect of such action or proceeding shall be heard and determined exclusively in accordance with clause (i) of this Section 5.1, (iii) waives any objection to laying venue in any such action or proceeding in such courts, (iv) waives any objection that such courts are an inconvenient forum or do not have jurisdiction over any Party and (v) agrees that service of process upon such Party in any such action or proceeding shall be effective if such process is given as a notice in accordance with Section 6.2 of this Agreement. EACH OF THE PARTIES IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION OR PROCEEDING BETWEEN THE PARTIES ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

(c)    The Parties agree that irreparable damage would occur and that the Parties would not have any adequate remedy at Law in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. Each Party accordingly agrees that, in the event of any breach or threatened breach by any other Party of any covenant or obligation contained in this Agreement, the non-breaching Party shall be entitled (in addition to any other remedy that may be available to it whether in Law or equity, including monetary damages) to seek (i) a decree or order of specific performance to enforce the observance and performance of such covenant or obligation and (ii) an injunction restraining such breach or threatened breach. In circumstances where a Party is obligated to take action under this Agreement and such Party fails to take such action each of the Parties expressly acknowledges and agrees that the other Party shall have suffered irreparable harm, that monetary damages will be inadequate to compensate such other Party, and that such other Party shall be entitled to enforce specifically the breaching Party’s obligations under this Agreement. Each Party accordingly agrees not to raise any objection to the availability of the equitable remedy of specific performance to prevent or restrain breaches or threatened breaches of, or to enforce compliance with, the covenants and obligations of such Party under this Agreement all in accordance with the terms of this Section 5.1(c). Each Party further agrees that no other Party and no other Person shall be required to obtain, furnish, or post any bond or similar instrument in connection with or as a condition to obtaining any remedy referred to in this Section 5.1(c), and each Party irrevocably waives any right it may have to require the obtaining, furnishing or posting of any such bond or similar instrument.

 

ARTICLE VI

MISCELLANEOUS

 

Section 6.1    Corporate Power.

 

(a)    Each Party represents on behalf of itself as follows:

 

(i)    each such Person has the requisite corporate or other power and authority and has taken all corporate or other action necessary in order to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby; and

 

(ii)    this Agreement has been duly executed and delivered by it and constitutes a valid and binding agreement of it enforceable in accordance with the terms thereof.

 

13

 

 

Section 6.2    Notices. All notices and other communications hereunder shall be in writing and shall be delivered by hand, by facsimile or by overnight courier service (except for notices specifically required to be delivered orally). Such communications shall be deemed given to a Party (a) at the time and on the date of delivery, if delivered by hand or by email (provided, however, that notice given by email shall not be effective unless either (i) a duplicate copy of such email notice is promptly given by one of the other methods described in this Section 6.2 or (ii) the receiving Party delivers a written confirmation of receipt of such notice either by email or any other method described in this Section 6.2) and (b) at the end of the first Business Day following the date on which sent by overnight service by a nationally recognized courier service (costs prepaid).

 

Such communication in each case shall be delivered to the following addresses or facsimile numbers and marked to the attention of the Person (by name or title) designated below (or to such other address, facsimile number, or Person as a Party may designate by notice to the other Parties):

 

If to the Mosing Parties to:

 

Mosing Group

10260 Westheimer Road, Ste. 200

Houston, Texas 77042

	 	
			Attention:

				
			Michelle Foutch

			

	 	
			Email:

				
			Michelle.Foutch@mosinggroup.com

			

 

With a copy to:

 

Locke Lord LLP

600 Travis St, Suite 2800

Houston, TX 77002

	 	
			Attention:

				
			Steve Peterson

			
	 	 	
			Megan Foscaldi

			

	 	
			Email:

				
			speterson@lockelord.com

			
	 	 	Megan.Foscaldi@lockelord.com

 

 

If to Oak Hill, to:

 

Oak Hill Advisors, L.P.

1114 Avenue of the Americas

38th Floor

New York, New York 10036

	 	
			Attention:

				
			Office of the General Counsel

			

	 	
			Email:

				
			EArbeter@oakhilladvisors.com; LegalOHA@ohpny.com

			

 

14

 

 

If to the Company, to:

 

Frank's International N.V.

10260 Westheimer Road Suite 700

Houston, Texas 77042

	 	
			Attention:

				
			Melissa Cougle, Chief Financial Officer

			
	 	 	
			John Symington, General Counsel

			

	 	
			Email:

				
			Melissa.Cougle@franksintl.com

			
	 	 	John.Symington@franksintl.com

 

with a copy to (which copy shall not constitute notice):

 

Vinson & Elkins LLP

1001 Fannin Street, Suite 2500

Houston, Texas 77002-6760

	 	
			Attention:

				
			T. Mark Kelly

			
	 	 	Stephen M. Gill
	 	 	Michael Telle

	 	
			Email:

				
			mkelly@velaw.com

			
	 	 	sgill@velaw.com
	 	 	mtelle@velaw.com

 

Section 6.3    Severability. If any provision of this Agreement (or portion thereof) is held invalid, illegal or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement (or portion thereof) will remain in full force and effect, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or provision is invalid, illegal or unenforceable, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the fullest extent possible.

 

Section 6.4    Entire Agreement. This Agreement, including exhibits and amendments hereto, and the Relevant Agreements and any other document or instrument referred to herein constitute the entire agreement among the Parties and supersede all other prior or contemporaneous agreements and understandings, both written and oral, among or between any of the Parties with respect to the subject matter hereof and thereof.

 

Section 6.5    Assignment; No Third-Party Beneficiaries. No Party may assign any of its rights or delegate any of its obligations under this Agreement without the prior written consent of the other Parties. This Agreement will be binding upon, and shall be enforceable by and inure solely to the benefit of, the Parties and their respective successors and permitted assigns. Nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person or entity (other than the Company Independent Directors pursuant to Section 6.9) any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

Section 6.6    Amendment; Waiver. No provision of this Agreement may be amended or modified except by a written instrument signed by all the Parties to this Agreement. A Party may, in its sole discretion, waive any and all rights granted to it in this Agreement; provided, that no waiver by any Party of any provision hereof shall be effective unless explicitly set forth in writing and executed by the Party so waiving. The waiver by any Party of a breach of any provision of this Agreement shall not operate or be construed as a waiver of any other subsequent breach.

 

15

 

 

Section 6.7    Interpretations. When a reference is made in this Agreement to an Article, Section or Schedule, such reference shall be to an Article, Section or Schedule to this Agreement unless otherwise indicated. The words “include,” “includes” and “including” when used herein shall be deemed in each case to be followed by the words “without limitation.” Any references in this Agreement to “the date hereof” refers to the date of execution of this Agreement. The table of contents and headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. References to “this Agreement,” “hereof,” “herein,” and “hereunder” refer to this Agreement as a whole and not to any particular provision of this Agreement and include any schedules, annexes, exhibits or other attachments to this Agreement. The word “or” shall be deemed to mean “and/or.” All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein. The definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such term. Any agreement, instrument or statute defined or referred to herein or in any agreement or instrument that is referred to herein means such agreement, instrument or statute as from time to time amended, modified or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the case of statutes) by succession of comparable successor statutes and references to all attachments thereto and instruments incorporated therein. References to a Person are also to its permitted successors and assigns. The Parties have participated jointly in the negotiation and drafting of this Agreement with the assistance of counsel and other advisors and, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement or interim drafts of this Agreement.

 

Section 6.8    Execution of Agreement; Counterparts; Electronic Signatures.

 

(a)    The Agreement may be executed in several counterparts, each of which shall be deemed an original and all of which shall constitute one and the same instrument and shall become effective when counterparts have been signed by each of the Parties and delivered to the other Parties it being understood that all Parties need not sign the same counterpart.

 

(b)    The exchange of signed copies of this Agreement or of any other document contemplated by this Agreement (including any amendment or any other change thereto) by any electronic means intended to preserve the original graphic and pictorial appearance of a document shall constitute effective execution and delivery of this Agreement as to the Parties and may be used in lieu of an original Agreement or other document for all purposes. Signatures of the Parties transmitted by any electronic means referenced in the preceding sentence shall be deemed to be original signatures for all purposes.

 

Section 6.9    Enforceable by the Company Independent Directors. All of the Company’s rights under this Agreement may be enforced exclusively by the Company Independent Directors; provided that nothing in this Agreement shall require the Company Independent Directors to act on behalf of, or enforce any rights of, the Company. Any recovery in connection with a Legal Proceeding brought by the Company Independent Directors hereunder with respect to a Shareholder Group shall be for the proportionate benefit of all Other Shareholders.

 

16

 

 

Section 6.10    Joinder Shareholders. If any member of Expro, together with its Affiliates, received (or is to receive) in the aggregate shares of Company Common Stock in the Merger pursuant to the Merger Agreement equal to at least 20% of the number of Closing Shares, such member and any such Affiliates may, but shall not be obligated to, execute a joinder to this Agreement substantially in the form of Exhibit A no later than three Business Days following the Effective Time to become a Joinder Shareholder hereunder. No Person may become a Joinder Shareholder following the expiration of such three Business Day period. Notwithstanding the foregoing, to the extent members of Expro are Affiliates, only one of such members shall be the Joinder Shareholder and collectively all such members shall consist of one Joinder Shareholder Group.

 

Section 6.11    Party Representatives.

 

(a)    Each of the Mosing Parties, by executing and delivering this Agreement, hereby appoints Michelle Foutch as its representative to act on behalf of the Mosing Parties for all purposes under this Agreement (the “Mosing Representative”), including the exercise of all rights of the Mosing Parties hereunder and the making of all elections and decisions to be made by the Mosing Parties pursuant to this Agreement. The Company and the Mosing Parties hereby acknowledge and agree that the Mosing Representative shall have the power and authority to act on behalf of the Mosing Parties pursuant to this Agreement and that the act of the Mosing Representative shall constitute the act of the Mosing Parties for all purposes under this Agreement. The Mosing Representative may assign the power and authority granted to the Mosing Representative pursuant to this ‎Section 6.11 to any other Mosing Family Member, who shall thereafter serve as the Mosing Representative. Written notice of any such assignment shall be given to the Company promptly following the effectiveness thereof. The Company shall be entitled to rely on any act or writing executed by the Mosing Representative.

 

(b)    Oak Hill (the “Oak Hill Representative”) hereby represents and warrants that it has been duly authorized by each member of the Oak Hill Group to act on behalf of the Oak Hill Group for all purposes under this Agreement, including the exercise of all rights of the Oak Hill Group hereunder and the making of all elections and decisions to be made by Oak Hill pursuant to this Agreement. The Company hereby acknowledges and agrees that the Oak Hill Representative shall have the power and authority to act on behalf of the Oak Hill Group pursuant to this Agreement and that the act of the Oak Hill Representative shall constitute the act of each member of the Oak Hill Group for all purposes under this Agreement. The Oak Hill Representative may assign the power and authority granted to the Oak Hill Representative pursuant to this Section 6.11 to any other member of the Oak Hill Group, who shall thereafter serve as the Oak Hill Representative. Written notice of any such assignment shall be given to the Company promptly following the effectiveness thereof. The Company shall be entitled to rely on any act or writing executed by the Oak Hill Representative.

 

17

 

 

(c)    The Joinder Shareholder (a “Joinder Shareholder Representative”), by executing and delivering a joinder to this Agreement, hereby represents and warrants that it has been duly authorized by each member of its Joinder Shareholder Group to act on behalf of such Joinder Shareholder Group for all purposes under this Agreement, including the exercise of all rights of such Joinder Shareholder Group hereunder and the making of all elections and decisions to be made by such Joinder Shareholder Group pursuant to this Agreement. Upon such appointment, the Company hereby acknowledges and agrees that the Joinder Shareholder Representative shall have the power and authority to act on behalf of such Joinder Shareholder Group pursuant to this Agreement and that the act of the Joinder Shareholder Representative shall constitute the act of each such Joinder Shareholder Group for all purposes under this Agreement. Any Joinder Shareholder Representative may assign the power and authority granted to such Joinder Shareholder Representative pursuant to this ‎Section 6.11 to any other member of the Joinder Shareholder Group, who shall thereafter serve as such Joinder Shareholder Representative. Written notice of any such assignment shall be given to the Company promptly following the effectiveness thereof. The Company shall be entitled to rely on any act or writing executed by a Joinder Shareholder Representative.

 

[The remainder of this page has been intentionally left blank; 

the next page is the signature page.]

 

18

 

 

 

IN WITNESS WHEREOF, each party hereto has caused this Agreement to be executed as of the date first written above by its respective officer thereunto duly authorized, all as of the date first written above.

 

	
			 

				
			Frank's International N.V.

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			/s/ Michael C. Kearney

				
			 

			
	
			 

				
			Name:

				
			Michael C. Kearney

				
			 

			
	
			 

				
			Title:

				Chairman, President and Chief Executive Officer	
			 

			

 

[Signature Page to Director Nomination Agreement]

 

 

 

 

	
			 

				
			MOSING PARTIES:

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			/s/ Kirkland D. Mosing

				
			 

			
	
			 

				
			Name:

				
			 Kirkland D. Mosing

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	 	By:	/s/ Erich L. Mosing	 
	 	Name:	Erich L. Mosing	 
	 	 	 	 
	 	By:	/s/ S. Brent Mosing	 
	 	Name:	S. Brent Mosing	 
	 	 	 	 
	 	By:	/s/ D. Keith Mosing	 
	 	Name:	D. Keith Mosing	 
	 	 	 	 
	 	By:	/s/ Jeffrey Louis Mosing	 
	 	Name:	Jeffrey Louis Mosing	 
	 	 	 	 
	 	By:	/s/ Michael F. Mosing	 
	 	Name:	Michael F. Mosing	 
	 	 	 	 
	 	By:	/s/ Sharon M. Mosing	 
	 	Name:	Sharon M. Mosing	 
	 	 	 	 
	 	By:	/s/ Melanie Mosing	 
	 	Name:	Melanie Mosing	 
	 	 	 	 
	 	By:	/s/ Kendall Mosing	 
	 	Name:	Kendall Mosing	 

 

[Signature Page to Director Nomination Agreement]

 

 

 

 

	 	Oak Hill Advisors, L.P.	 
	 	 	 	 
	 	By:	/s/ Gregory S. Rubin	 
	 	Name:	Gregory S. Rubin	 
	 	Title:	Authorized Signatory	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

[Signature Page to Director Nomination Agreement]

 

 

 

 

Exhibit A

 

Form of Joinder to Director Nomination Agreement

 

This Joinder Agreement (this “Joinder Agreement”) is made as of the date written below by the undersigned (the “Joinder Shareholder”) in accordance with the Director Nomination Agreement, dated March 10, 2021 (as amended from time to time, the “Director Nomination Agreement”), by and among the Mosing Parties, Oak Hill Advisors, L.P., Frank's International N.V., a public company organized under the laws of the Netherlands (the “Company”), and the other shareholders parties thereto.

 

The Joinder Shareholder hereby acknowledges, agrees and confirms that, by its execution of this Joinder Agreement, such Joinder Shareholder shall be deemed to be a party to the Director Nomination Agreement as of the date hereof and shall have all of the rights and obligations of a “Joinder Shareholder” thereunder as if it had been an original party to the Director Nomination Agreement. The Joinder Shareholder hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions contained in the Director Nomination Agreement.

 

The Joinder Shareholder hereby represents and warrants that it: (i) has the requisite corporate or other power and authority and has taken all corporate or other action necessary in order to execute, deliver and perform this Joinder Agreement and to consummate the transactions contemplated hereby, (ii) this Joinder Agreement has been duly executed and delivered by it and constitutes a valid and binding agreement of it enforceable in accordance with its terms and (iii) together with its Affiliates, received (or is to receive) in the aggregate shares of Company Common Stock in the Merger pursuant to the Merger Agreement equal to at least 20% of the number of Closing Shares.

 

 

[signature page follows]

 

 

 

 

IN WITNESS WHEREOF, the undersigned has executed this Joinder Agreement as of the date written below.

 

Date: ___________ ___, ______

 

 

	
			 

				
			JOINDER SHAREHOLDER:

				
			 

			
	 	 	 
	 	[NAME]	 
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				
			 

				
			 

			
	
			 

				
			Name:

				
			 

				
			 

			
	
			 

				
			Title:

				
			 

				
			 

			
	 	 	 	 
	 	 	 	 
	 	Notice Address:	 
	 	[_________________]	 
	 	[_________________]	 
	 	Attention: [_________________]	 
	 	Email: [_________________]	 
	 	 	 	 
	 	 	 	 
	 	COMPANY:	 
	 	 	 	 
	 	Frank's International N.V.	 
	 	 	 	 
	 	By:	 	 
	 	Name:	 	 
	 	Title:	 	 

 

 

 

 

Exhibit B

 

Mosing Family Members

 

D. Keith Mosing

Donald Keith Mosing Family Partnership, Ltd

M. Mosing 2010 IRREV Trust

N. Mosing 2010 IRREV Trust

2015 Mosing Family Delaware Trust fbo Keith Mosing

ByPass Corporate Stock Trust ulw Janice P. Mosing fbo Donald Keith Mosing

Gregory Stanton Mosing

2009 Mosing Family Delaware Dynasty Trust fbo Gregory Stanton Mosing

G. Stanton Investments, LP

ByPass Corporate Stock Trust ulw Janice P. Mosing fbo Gregory Stanton Mosing

Trust ulw Janice P.Mosing fbo Lindsey R.Mosing

William Bradford Mosing

WBM Partnership, LP

Trust ulw Janice P.Mosing fbo Victoria R.Mosing

Trust ulw Janice P.Mosing fbo Jaclyn E.Mosing

The 2016 Mosing Family Delaware Dynasty fbo William Bradford Mosing

Melanie Christine Mosing

To Look Within, LLC (Melanie)

2009 Mosing Family Delaware Dynasty Trust fbo Melanie Christine Mosing

ByPass Corporate Stock Trust ulw Janice P. Mosing fbo Melanie Christine Mosing

Clara Belle LeBlanc Mosing

Estate of Clara Belle LeBlanc Mosing

S. Brent Mosing

Steven Brent Mosing Family, L.L.C

Stephanie Mosing Godwin

Michael Frank Mosing

Michael Frank Mosing Family L.L.C.

Bryn Patrick Mosing

Vohn Patrick Mosing

Sharon M. Miller

Miller Ginsoma Holdings, Ltd. (Sharon Mosing Miller)

Ryan Charles Miller

Mallory Miller

Erich Mosing

Timothy Dupre Mosing

Estate of Timothy Dupre Mosing

Jeffrey Louis Mosing

JLM Partners, Ltd. (Jeff Mosing)

Delores B. Mosing

Kirkland D. Mosing

Kirkland D. Mosing Family, L.L.C.

Lori Mosing Thomas

Bryceton G. Thomas Trust (Kirk is trustee)

Kendall G. Mosing

Kendall G. Mosing Family, L.L.C.

DBM 2009 QSST-IDG Trust uta December 17, 2009ex_343306.htm

Exhibit 10.11

 

 

 

 

 

(1)         EXPRO NORTH SEA LTD

 

(2)         MR JOHN MCALISTER

 

 

 

 

 

 

 

 

 

SERVICE AGREEMENT

 

 

 

 

 

 

CONTENTS

 

	
			Clause

				Page
	
			1

				
			DEFINITIONS

				
			1

			
	
			2

				
			APPOINTMENT, NOTICE AND PLACE OF WORK

				
			5

			
	
			3

				
			DUTIES

				
			6

			
	
			4

				
			REMUNERATION

				
			8

			
	
			5

				
			EXPENSES

				
			9

			
	
			6

				
			CAR ALLOWANCE

				
			9

			
	
			7

				
			PENSION ALLOWANCE

				
			9

			
	
			8

				
			MEDICAL AND LIFE INSURANCE

				
			9

			
	
			9

				
			SICKNESS

				
			10

			
	
			10

				
			HOLIDAYS

				
			10

			
	
			11

				
			CONFIDENTIALITY

				
			10

			
	
			12

				
			INVENTIONS AND COPYRIGHT

				
			12

			
	
			13

				
			TERMINATION

				
			13

			
	
			14

				
			RESTRICTIONS

				
			15

			
	
			15

				
			PRIOR AGREEMENTS

				
			16

			
	
			16

				
			DISCIPLINARY AND GRIEVANCE PROCEDURE

				
			16

			
	
			17

				
			GENERAL

				
			16

			

 

 

 

-1-

 

THIS AGREEMENT is made 29 September 2021

 

BETWEEN:-

 

	
			(1)

				
			EXPRO NORTH SEA LTD (Registered in England No 1108011) whose registered office is at Second Floor, Davidson House Forbury Square, Reading RG1 3EU ("Company"); and

			

 

	
			(2)

				
			Mr John McAlister, The Old Farmhouse, Ginge OX12 8QR("Executive").

			

 

NOW IT IS HEREBY AGREED as follows:

 

	
			1.

				
			DEFINITIONS

			

 

	
			1.1

				
			In this Agreement the following words and expressions shall unless the context otherwise requires have the following meanings:

			

 

	
			"Act"

				
			Employment Rights Act 1996 as amended;

			
	 	 
	
			"Board"

				
			the board of directors of Expro Group Holdings NV for the time being and from time to time or a duly constituted committee thereof;

			
	 	 
	
			"Commencement Date"

				
			1 October 2021;

			
	 	 
	
			"Confidential Information"

				
			the information and trade secrets referred to in Clause 11.1;

			
	 	 
	
			"Director"

				
			any director of the Company or any company in the Group with whom the Executive has dealt personally in the six months preceding the Termination Date;

			
	 	 
	
			"directly or indirectly"

				
			whether as principal or agent; whether alone, jointly, in partnership with another or for or on behalf of another; whether as a shareholder (other than a minority shareholder beneficially entitled to not more than 3% of the issued share capital of another company), director, agent, principal, partner, consultant, employee or otherwise; or by virtue of providing direct or indirect financial assistance;

			
	 	 
	
			"Group"

				
			any person which is from time to time a subsidiary, subsidiary undertaking, or holding company of the Company or of such subsidiary, subsidiary undertaking, or holding company as the case may be from time to time, and each a “Group Company”;

			

 

 

-2-

 

	
			"holding company", "subsidiary", "subsidiary undertaking"

				
			the same meanings given in s.1159 and s.1161 Companies Act 2006, save that: (a) a company shall be treated, for the purposes only of the membership requirement contained in s.1159(1)(b) and (c), as a member of another company even if its shares in that other company are registered in the name of (i) another person (or that person’s nominee), whether by way of security or in connection with the taking of security, or (ii) its nominee; and (b) in the case of a limited liability partnership which is a subsidiary of a company or another limited liability partnership, s.1159 Companies Act 2006 shall apply as if: (i) references in s.1159(1)(a) and (c) to voting rights are to the members’ rights to vote on all or substantially all matters which are decided by a vote of the members of the limited liability partnership; and (ii) the reference in s.1159(1)(b) to the right to appoint or remove a majority of its board of directors is to the right to appoint or remove members holding a majority of the voting rights;

			
	 	 
	
			"Pension Scheme"

				
			the Expro North Sea Limited Retirement and Death Benefits Plan (a money purchase scheme), or such other pension arrangement as the Company may provide or agree to contribute to;

			
	 	 
	
			"Relevant Company"

				
			any company in relation to which the Executive shall either as part of his duties under his employment or by virtue of any directorship held from time to time by him pursuant to such employment render any services or perform any function in the twelve months prior to the Termination Date and which for the time being or from time to time is a member of the Group;

			
	 	 
	
			"Restricted Person"

				
			any person, firm or company whom the Executive knows or ought reasonably to know:

			
	 	 
	 	
			●    was at the Termination Date or at any time during the period of 12 months prior to such date a customer in respect of products or services of a Relevant Company and with whom the Executive has had contact during such period; or

			
	 	 
	 	
			●    was a potential customer of a Relevant Company with whom the Executive has had contact during such period, in respect of Restricted Products and/or Restricted Services by virtue of negotiations which were either in progress at the Termination Date or would have been but for the direct or indirect act or omission of the Executive;

			

 

 

-3-

 

	
			"Restricted Products"

				
			all and any products the same as or similar to those with which the Executive was concerned in the ordinary course of his duties under his employment or by virtue of his holding of any directorship in any Relevant Company or in relation to which he possessed any Confidential Information and which have been produced marketed sold or otherwise dealt in by the Company and/or any Relevant Company in the ordinary course of its or their respective business and in respect of which the Company and/or any Relevant Company has not discontinued such production marketing sale or dealings;

			
	 	 
	
			"Restricted Services"

				
			all and any services the same as or similar to those with which the Executive was concerned in the ordinary course of his duties under his employment or by virtue of his holding of any directorship in any Relevant Company or in relation to which he possessed any Confidential Information and which have been provided by the Company and/or any Relevant Company in the ordinary course of its or their respective business and in respect of which the Company and/or any Relevant Company has not discontinued such provision;

			
	 	 
	
			"Recognised Investment Exchange"

				
			a recognised investment exchange or an overseas investment exchange, each as defined by section 285 Financial Services and Markets Act 2000;

			
	 	 
	
			"Review Date"

				
			as determined by the compensation committee of the Company’s ultimate holding company from time to time;

			
	 	 
	
			"Salary"

				
			the payment set out in Clause 4.1 as reviewed on the Review Date;

			
	 	 
	
			"Senior Employee"

				
			any person who has been employed by or provided services to a Relevant Company in a managerial, technical, marketing, research, legal, account handling, strategic, customer relations or similar capacity during the six months immediately prior to the Termination Date and with whom the Executive dealt personally;

			

 

 

-4-

 

	
			“Settlement Agreement”

			 

				
			a customary settlement agreement containing a release of claims against the Company and its Affiliates, in a form to be provided by the Company, which shall exclude (i) any claims arising after the date on which such release is executed by the Executive, (ii) any claims to rights of indemnification from the Company or any of its Affiliates pursuant to the terms of this Agreement, any other agreement between the Executive and the Company and/or such Affiliate(s), the Company's or its Affiliate's bylaws or other organizational documents, or applicable law, (iii) any claims that the Executive may have in his capacity as a holder of vested equity of the Company or any of its Affiliates (including, for the avoidance of doubt, any equity that vests in connection with such termination of employment or remains eligible to vest following such termination based on the attainment of the applicable performance goals), and (iv) any claims that cannot, under applicable law, be waived;

			
	 	 
	"Supplier"	any person, firm, company or other entity which or whom at any time during the period of twelve months preceding the Termination Date was a supplier to any Relevant Company;
	 	 
	
			"Term"

				
			the period commencing on the Commencement Date and terminating on the Termination Date;

			
	 	 
	
			"Termination Date"

				
			the date on which this Agreement terminates.

			

 

	
			1.2

				
			References to any enactment shall be construed as references thereto as from time to time re-enacted and to any previous enactment consolidated therein and to any regulation or order made thereunder.

			

 

	
			1.3

				
			Words denoting the singular shall include the plural and vice versa and words denoting any gender shall include all genders.

			

 

	
			1.4

				
			The terms set out in a schedule to this Agreement shall be deemed to be incorporated herein except where expressly stated otherwise.

			

 

	
			1.5

				
			Unless otherwise stated a reference to a clause or a schedule is a reference to respectively a clause in or a schedule to this Agreement.

			

 

	
			1.6

				
			Clause headings are for the ease of reference only and shall not affect the construction of this Agreement.

			

 

 

-5-

 

	
			1.7

				
			Any phase introduced by the terms "including", "include", "in particular" or any similar expression shall be construed as illustrative and shall not limit the sense of words preceding those terms.

			

 

	
			2.

				
			APPOINTMENT, NOTICE AND PLACE OF WORK

			

 

	
			2.1

				
			The Company employs the Executive and the Executive agrees to serve the Company as its Group General Counsel, or in such other capacity or capacities of equivalent status as shall reasonably be nominated by the Board.

			

 

	
			2.2

				
			Subject to the provisions for termination contained in Clause 13.1 this Agreement shall commence on the Commencement Date and shall continue until determined by not less than X weeks prior written notice given by either party to the other. For the purpose of this Clause, X shall be equal to one week’s notice for every complete year of the Executive’s continuous service with the Company or any Group Company up to a maximum of 12 weeks. The date of commencement of the Executive’s continuous service for statutory purposes is 6 July 2006.

			

 

	
			2.3

				
			The Company may terminate this Agreement without notice at any time including in those circumstances contained within Clause 13.1 of this Agreement. Subject always to Clause 2.4 below, in circumstances where this Agreement is terminated by the Company other than in accordance with Clause 13.1 below, the Company shall, subject to and conditional upon: (a) the rules, terms and conditions of the Frank’s International N.V. U.S. Executive Retention and Severance Plan (as amended from time to time, the “Retention Plan”); (b) the Executive executing a Settlement Agreement within 14 days of termination of his employment with the Company; and (c) the Executive’s employment terminating in circumstances where he would be entitled to receive Severance Benefits under the Retention Plan, pay to the Executive Severance Benefits subject to such deductions as are required by law or otherwise permitted under the Retention Plan, which Severance Benefits would, for the avoidance of doubt, be inclusive of any payments or other benefits to which the Executive would otherwise be entitled in connection with his employment or its termination (including any payment in lieu of any unexpired portion of his notice period). For the avoidance of doubt, the Executive is a Covered Executive under the Retention Plan, agrees to participate in the Retention Plan and to comply with its terms, conditions and restrictions and specifically acknowledges and agrees to the restrictions imposed upon him under Sections 11, 12 and 14 of this Agreement. The Company agrees to participate in the Retention Plan as a participating Employer. This Agreement shall serve as the Executive’s Participation Agreement under the Retention Plan. Capitalised terms used in this Clause 2.3 shall have the meanings given to them in the Retention Plan. If the Company decides not to exercise its rights under this Clause, the Executive's sole remedy shall be a claim in damages, which is subject to a duty to mitigate his loss. Any payment the Company may decide to make under this Clause shall be in full and final settlement of all contractual claims.

			

 

	
			2.4

				
			Subject to and conditional upon: (i) the rules, terms and conditions of the Frank’s International N.V. Amended and Restated U.S. Executive Change-in-control Severance Plan (as amended from time to time, the “Change in Control Plan”); and (ii) the Executive executing a Settlement Agreement within 14 days of termination of his employment with the Company; and (iii) the Executive’s employment terminating in circumstances where he would be entitled to receive severance payments under Section 3 of the Change in Control Plan (“Change in Control Severance Benefits”), the Company will pay to the Executive Change in Control Severance Benefits, subject to such deductions as are required by law or otherwise permitted under the Change in Control Plan. The Change in Control Severance Benefits would, for the avoidance of doubt, be inclusive of any payments or other benefits to which the Executive would otherwise be entitled in connection with his employment or its termination. For the avoidance of doubt, the Executive is a Covered Executive under the Change in Control Plan, agrees to participate in the Change in Control Plan and to comply with its terms, conditions and restrictions and the Company agrees to participate in the Change in Control Plan as a participating Employer. This Agreement shall serve as the Executive’s Participation Agreement under the Change in Control Plan. If the Executive becomes eligible for change in Control Severance Benefits under the Change in Control Plan, the outplacement assistance benefits described therein shall consist of outplacement assistance provided for the period beginning on the Termination Date and ending on the last day of the second calendar year following the Termination Date, or until subsequent employment is obtained, whichever occurs first, and shall not exceed US$ 15,000 in the aggregate. Such outplacement assistance shall be provided through a vendor selected by a Group Company, with any Group Company providing direct payment to such vendor. Capitalised terms used in this Clause 2.4 shall, unless defined elsewhere in this Agreement, have the meanings given to them in the Change in Control Plan.

			

 

 

-6-

 

	
			2.5

				
			The Executive's normal place of work shall be Reading or such place or places in the United Kingdom or elsewhere (on an accompanied family basis) as the Company may from time to time determine upon giving him reasonable prior notice. In such an event the Company shall reimburse to the Executive his reasonable removal and other expenses as per the Company's relocation policy from time to time in force.

			

 

	
			2.6

				
			The Executive represents and warrants that he is not bound by or subject to any court order, agreement, arrangement or undertaking which in any way restricts or prohibits him from entering into this Agreement or from performing his duties under it.

			

 

	
			3.

				
			DUTIES

			

 

	
			3.1

				
			The Executive shall (subject always to the directions of the Board) carry out such duties and exercise such powers in relation to the Group as may from time to time be assigned to or vested in him by the Board having regard to his responsibilities as Group General Counsel and subject to such restrictions as the Board may from time to time impose.

			

 

	
			3.2

				
			Whilst the appointment is full time the nature of the Executive's employment including his seniority and the scope of his responsibilities is such that his working time can be determined by him in a manner consistent with his employment under this agreement. The agreed hours of work of the Executive will be such hours as may reasonably be required for the proper performance of his duties under this Agreement.

			

 

	
			3.3

				
			During this Agreement the Executive shall (without prejudice to the generality of Clause 3.1) in the course of his duties:

			

 

	 	
			3.3.1

				
			diligently, well and faithfully serve the Group and use his best endeavours to promote and develop its interests and those of any other Relevant Company;

			

 

	 	
			3.3.2

				
			give to the Board or such persons as it shall nominate such information regarding the affairs of the Company as shall be required;

			

 

	 	
			3.3.3

				
			at all times conform to the reasonable directions of the Board or of anyone duly authorised by it;

			

 

 

-7-

 

	 	
			3.3.4

				
			undertake such travel as may reasonably be required for the proper performance of his duties both inside and outside the United Kingdom as the Board may from time to time determine; and

			

 

	 	
			3.3.5

				
			at all times comply with all relevant rules and procedures of the Company and of any association or professional body to which the Company and/or the Executive may from time to time belong.

			

 

	
			3.4

				
			The Executive shall not at any time during the course of his employment, without the prior consent of the Board:

			

 

	 	
			3.4.1

				
			incur on behalf of the Company or the Group any capital expenditure in excess of such sum as may be authorised from time to time, via the Company's financial policies and procedures;

			

 

	 	
			3.4.2

				
			enter into on behalf of the Company or the Group any commitment, contract or arrangement which is otherwise than in the normal course of business or is outside the scope of his normal duties or is of an unusual or onerous or long term nature;

			

 

	 	
			3.4.3

				
			engage any person on terms which vary from those established via HR policies and procedures;

			

 

	 	
			3.4.4

				
			dismiss any employee or worker of the Company or the Group without taking HR advice and without giving proper statutory or (if longer) contractual notice or without following the appropriate procedures and in any case the Executive shall immediately report any dismissal effected by him and the reason for it to the Board; or

			

 

	 	
			3.4.5

				
			(and shall use every reasonable endeavour to procure that his spouse, infant children and other persons connected with him within the meaning of section 346 of the Companies Act 1985 shall not) deal or become or cease to be interested (within the meaning contained in Part I of Schedule 13 to the Companies Act 1985) in any securities of the Company or any company in the Group except in accordance with the Company's Code of Practice in force from time to time in relation to such transactions with which Code the Executive shall comply and copies of which are obtainable from the Company Secretary.

			

 

	
			3.5

				
			The Executive shall during this Agreement, unless prevented by incapacity, devote the whole of his time attention and ability to the performance of his duties under this Agreement and shall not directly or indirectly enter into or be concerned or interested in any trade or business or occupation whatsoever other than the business of the Group except with the prior written consent of the Board provided always that such consent may be given subject to any terms or conditions which the Board may require and any breach of any such terms and conditions by the Executive shall be deemed to be a breach of the terms of this Agreement;

			

 

	
			3.6

				
			For the avoidance of doubt nothing in Clause 3.5 shall prevent the Executive from holding less than 3% of the issued share capital of another company.

			

 

	
			3.7

				
			Without prejudice to the generality of Clause 3.5 above the Executive shall not during the course of his employment:

			

 

	 	
			3.7.1

				
			make any preparations to compete with the Group;

			

 

 

-8-

 

	 	
			3.7.2

				
			encourage any employee or contractor to terminate their employment or services with the Group; and/or

			

 

	 	
			3.7.3

				
			encourage any client or customer or supplier of the Group to terminate or reduce the value of any contract or relationship with the Group.

			

 

	
			3.8

				
			The Company shall be under no obligation to vest in or assign to the Executive any powers or duties or to provide any work for the Executive and the Company may at its discretion at any time or from time to time during any period of notice given by either party to terminate this Agreement:

			

 

	 	
			3.8.1

				
			suspend the Executive from the performance of his duties;

			

 

	 	
			3.8.2

				
			exclude the Executive from any premises of the Company or any company in the Group;

			

 

	 	
			3.8.3

				
			require the Executive to work from home and/or to perform special projects;

			

 

	 	
			3.8.4

				
			require the Executive to abstain from contacting any customers, clients, suppliers, agents, contractors, or employees of the Company or any company in the Group; and/or

			

 

	 	
			3.8.5

				
			require the Executive to resign from any or all offices in the Company and any company in the Group; and/or

			

 

	 	
			3.8.6

				
			require the Executive to return to the Company all documents and other materials (including copies) belonging to any company in the Group or any of its customers except that the Executive shall be entitled for as long as he may be a statutory Director of any such company, to retain copies of documents received by him during the course of his employment in his capacity as a statutory Director of such a company.

			

 

	
			3.9

				
			Salary and benefits will continue to be paid to the Executive during any period of suspension, exclusion or requirement as described in Clause 3.8 and the Executive shall throughout any such period continue to be an employee of the Company and shall comply with all his obligations under this Agreement without limitation.

			

 

	
			3.10

				
			The Executive agrees that during any period of notice given by either party to terminate this Agreement, he will give to the Company or such person nominated by it all such assistance and co-operation in effecting a smooth and orderly handover of his duties as the Company may require.

			

 

	
			3.11

				
			The Executive irrevocably authorises the other directors of the Company from time to time, in his name and on his behalf, to execute all documents and do all things necessary to effect any resignation required pursuant to Clause 3.8.5 if the appropriate notices have not been delivered to the Company within seven days of the Executive being required to so resign.

			

 

	
			4.

				
			REMUNERATION

			

 

	
			4.1

				
			Subject as hereinafter provided the Company shall pay to the Executive a base salary at the rate of £311,000 per annum, less statutory deductions, (which is inclusive of any fees in relation to the Executive's position as Director) which shall accrue from day to day and be payable by equal instalments in arrears at the end of every calendar month (or such other date as the Company may determine).

			

 

 

-9-

 

	
			4.2

				
			The Salary shall be reviewed on each Review Date and the Company may in its entire discretion vary the Salary having regard to the performance of the Executive and the profitability of the Group. Any variation of Salary would not be downwards.

			

 

	
			4.3

				
			Any benefits provided by the Company to the Executive or his family which are not expressly referred to in this Agreement shall be regarded as ex-gratia and at the entire discretion of the Company and shall not form part of the Executive's contract of employment.

			

 

	
			4.4

				
			The Executive authorises the Company to deduct from his remuneration under this Agreement any sums due from him to the Company including any overpayments, loans or advances made to him by the Company.

			

 

	
			5.

				
			EXPENSES

			

 

In addition to his remuneration the Executive shall be reimbursed all reasonable expenses properly (wholly and exclusively) incurred by him in the discharge of his duties hereunder upon production of receipts or other evidence of those expenses to the Board.

 

	
			6.

				
			CAR ALLOWANCE

			

 

	
			6.1

				
			The Executive shall be entitled to a car allowance of £749.66 per month in the performance of his duties under this Agreement subject to and in accordance with the Company's car allowance policy as implemented by the Board and as varied by it from time to time and notified to the Executive.

			

 

	
			6.2

				
			The Executive shall be entitled to claim business mileage as per Company policy. Private fuel is not reimbursed by the Company.

			

 

	
			6.3

				
			The Executive shall comply with all provisions of the Company's car allowance policy notified to the Executive pursuant to Clause 6.1.

			

 

	
			7.

				
			PENSION ALLOWANCE

			

 

	
			7.1

				
			In lieu of any contribution to the Pension Scheme, the Company will pay the Executive an amount equal to 20% of the Executive's base salary subject to statutory deductions in equal monthly instalments at the same time as Salary.

			

 

	
			7.2

				
			A contracting-out certificate is not in force in respect of the employment.

			

 

	
			8.

				
			MEDICAL AND LIFE INSURANCE

			

 

	
			8.1

				
			The Company will, subject to the Executive (and, where relevant, his wife and children under the age of 21) being eligible for cover and/or accepted at standard rates of premium under the general provisions of the applicable plan or policy from time to time in force provide: (i) medical cover for the Executive, (and, where relevant, his wife and children under the age of 21); and (ii) life assurance cover for the Executive.

			

 

 

-10-

 

	
			9.

				
			SICKNESS

			

 

	
			9.1

				
			If the Executive is unable to work because of sickness or injury he should telephone his superior before 10:00 am on the morning in question.

			

 

	
			9.2

				
			If the Executive is absent from work for more than seven consecutive days he shall on the eighth day send the Company a certificate of his disability, signed by a registered medical practitioner, and shall send further certificates in respect of any continued absence. If the Company requires the Executive to obtain such a certificate during the first seven days of any absence, he must do so. If the Executive fails to comply with any of these provisions, he will not be paid for the relevant period of absence.

			

 

	
			9.3

				
			If the Executive is at any time required by the Company to undergo a medical examination by any doctor(s) nominated by the Company, he must do so. The Company will bear the expense of any such examination.

			

 

	
			9.4

				
			In the event of sickness and injury involving absence from work, the Company's Occupational Sick Pay Scheme will pay the Executive full Salary less the appropriate, according to earnings, weekly (or daily) rate of Statutory Sick Pay for a continuous or cumulative period of up to 180 days' absence in any twelve consecutive months.

			

 

	
			9.5

				
			On the expiry of the continuous or cumulative period of 180 days absence in any twelve month period, the Executive will receive Statutory Sick Pay in accordance with the rules for the payment of Statutory Sick pay but there is no further entitlement to Occupational Sick Pay.

			

 

	
			10.

				
			HOLIDAYS

			

 

	
			10.1

				
			The Executive shall in addition to statutory holidays be entitled to twenty five days holiday in every calendar year and a rateable proportion for any part of such calendar year to be taken at such time or times as shall be agreed with the Board.

			

 

	
			10.2

				
			On the termination of this Agreement:

			

 

	 	
			10.2.1

				
			the Executive shall be entitled to remuneration in lieu of holidays accrued but not taken;

			

 

	 	
			10.2.2

				
			the Company shall be entitled to deduct from any sum owed to the Executive an amount representing holidays taken but not accrued; and

			

 

	 	
			10.2.3

				
			such remuneration or deduction referred to in Clauses 10.2.1 and 10.2.2 shall be calculated at the rate of 1/227th of Salary for each day of holiday and fractions of a day shall be rounded down to the nearest whole number of days.

			

 

	
			11.

				
			CONFIDENTIALITY

			

 

	
			11.1

				
			Subject as set out in Clause 11.2 the Executive shall during the continuance of this Agreement and after the Termination Date observe strict secrecy as to the affairs and dealings of the Company and of any company in the Group and shall not at any time during the Term (except in the proper performance of his duties of employment) or after the Termination Date without the prior written consent of the Board make use of or divulge to any person and during the Term shall use his best endeavours to prevent the publication or disclosure of Confidential information which shall include:

			

 

 

-11-

 

	 	
			11.1.1

				
			any information concerning the business, accounts, finances, research projects, discount policy, pricing policy, future business strategy, marketing, tenders, price sensitive information, plans or strategies of the Company or of any company in the Group or of any client of any company in the Group;

			

 

	 	
			11.1.2

				
			any confidential report or information relating to research activities, inventions or secret processes commissioned by or on behalf of the Company or any company in the Group or of any of their respective clients in connection with the business or affairs of the Company or any company in the Group or any of their respective clients;

			

 

	 	
			11.1.3

				
			any trade secrets of the Company or any company in the Group including know-how confidential transactions, designs and engineering information and models and any other such technical information;

			

 

	 	
			11.1.4

				
			lists of or details of the clients or customers (or prospective customers) or other contractors of the Company or any company in the Group and the terms upon which they do business with the Company or any company in the Group;

			

 

	 	
			11.1.5

				
			any other information confidential to the Company or any company in the Group which has or may have come to his knowledge during this Agreement or previously or in any other manner; and

			

 

	 	
			11.1.6

				
			any information which the Executive is told or should reasonably know to be confidential and any information which has been given to the Company in the Group in confidence by third parties, including (but not limited to) contractors, agents, suppliers of the Company or any company in the Group.

			

 

	
			11.2

				
			The obligations contained in Clause 11.1 shall apply to any Confidential Information referred to in that Clause unless and until such information shall have come into the public domain otherwise than as a result of any direct or indirect disclosure by the Executive in breach of the terms of Clause 11.1. Nothing in this Clause 11 shall prevent the Executive from disclosing such information which he may be required to disclose by law and the Company acknowledges that the restrictions contained in this Clause are subject to the Public Interest Disclosure Act 1998.

			

 

	
			11.3

				
			The Executive consents to the Company (or any company in the Group) holding and processing, both electronically and manually, the data it collects in relation to the Executive in the course of his employment, as it may reasonably require for the reasonable purposes of the Company's administration and management of its business. In addition, to ensure compliance with applicable procedures, laws and regulations, the Executive also consents to the transfer, storage and processing by the Company or any company in the Group of such data outside the European Economic area and in particular to any other country in which the Company or any company in the Group has offices.

			

 

	
			11.4

				
			The Executive agrees that the Company and its employees and agents, may at any time and from time to time, intercept, record and/or otherwise monitor all communications, including telephone calls, e-mails, use of the internet, faxes and instant messaging and similar services effected by the Executive using the Company's equipment. The Executive acknowledges that such action is necessary for the Company's lawful business practice.

			

 

 

-12-

 

	
			12.

				
			INVENTIONS AND COPYRIGHT

			

 

	
			12.1

				
			The Executive shall subject to Section 40 Patents Act 1977 assign to the Company all his interest in improvements inventions, discoveries, processes, systems and designs, sole or joint which he or he and others may make during the continuance of this Agreement including any registered or unregistered service or trade marks devised by the Executive pertaining to the operations or business for the time being of the Company or any other member of the Group or pertaining to or resulting from or suggested by any work which he has done or may during the continuance of this Agreement do for the Company or any other member of the Group whether or not such improvements inventions processes systems or designs are capable of being protected by letters patent or other similar protection.

			

 

	
			12.2

				
			For the purpose of Clause 12.1 the Executive shall promptly disclose and deliver to the Company or as it may direct all information and data in his possession necessary to impart a full understanding of the said improvements inventions discoveries processes systems or designs and shall assist the Company or its nominees in every proper way without charge to but at the cost and expense of the Company in obtaining protection for the said improvements inventions discoveries processes systems or designs in any or all countries.

			

 

	
			12.3

				
			All such improvements inventions discoveries processes system and designs shall be and remain the property of the Company whether patented or not and the Executive shall, during or after the employment, without charge to but at the cost and expense of the Company execute and do all such acts matters documents and things as may be necessary or reasonably required to obtain patent or other protection for the said improvements inventions processes systems or designs and to vest title to them in the Company (or such company as it may direct) absolutely.

			

 

	
			12.4

				
			The Executive (to the extent that the same does not vest in the Company or any member of the Group by operation of law or under this Agreement) hereby assigns to the Company with full title guarantee by way of present and future assignment of copyright all the rights title and interest of the Executive in and to the copyright in all material written or devised by the Executive either alone or jointly with any other person(s) during the course of his employment and relating to the operation or business for the time being or from time to time of the Company or any member of the Group or resulting from or suggested by any work which the Executive shall do pursuant to his employment or has already done prior to the date of this Agreement pursuant to his employment and all rights of action for damages for infringement of such copyright material to hold such rights throughout the world absolutely for the entire period of copyright and any renewals and extensions to that period.

			

 

	
			12.5

				
			The Company shall be under no obligation to apply for or seek to obtain patent design or other protection in relation to any such improvement, invention, design, discovery process or system as aforesaid or in any way to use, exploit or seek to benefit from any such improvement, invention, process, system, design discovery and/or copyright.

			

 

	
			12.6

				
			The provisions of Clauses 12.1, 12.2 and 12.3 shall not exclude or limit Sections 40 and 41 Patents Act 1977.

			

 

 

-13-

 

	
			12.7

				
			The Executive hereby irrevocably and unconditionally waives any and all moral rights under the Copyright Designs and Patents Act 1988 or any right of a similar nature under any law in any other jurisdiction in and to any and all material in any medium whatsoever written created or devised by him whether solely or jointly and pertaining to the operation or business of the Company or any company in the Group or resulting from or suggested by anything which the Executive shall do pursuant to his employment.

			

 

	
			12.8

				
			The Executive hereby irrevocably appoints the Company to be his attorney in his name and on his behalf to execute any deeds and documents as aforesaid and generally to act and to use his name for the purpose of giving to the Company (or its nominee) the full benefit of the provisions of Clauses 12.1 to 12.4 and in favour of any third party a certificate in writing signed by any director or the secretary of the Company that any instrument or act falls within the authority hereby conferred shall be conclusive evidence that such is the case.

			

 

	
			12.9

				
			The provisions of this Clause 12 shall not be affected by reason of the termination of this Agreement for whatever reason and shall continue thereafter.

			

 

	
			13.

				
			TERMINATION

			

 

	
			13.1

				
			The Company shall be entitled to terminate this Agreement by summary notice in writing without liability for compensation or damages (save under Clause 13.1.1 where the Company shall comply with any obligation to give statutory minimum notice) if the Executive:

			

 

	 	
			13.1.1

				
			has at any time become or is unable properly to perform his duties hereunder by reason of ill health or accident either for a period or periods aggregating at least 180 working days in any period of 12 consecutive calendar months;

			

 

	 	
			13.1.2

				
			is guilty of any material or persistent breach of a material term of this Agreement other than a breach which (being capable of remedy) is remedied by him within 14 days upon his being called upon to do so in writing by the Board;

			

 

	 	
			13.1.3

				
			is guilty of any misconduct which in the reasonable opinion of the Board brings himself or the Company or any member of the Group into disrepute or seriously damages any commercial relationship which the Company or any member of the Group has with its customers;

			

 

	 	
			13.1.4

				
			commits an act of bankruptcy or compounds with his creditors generally;

			

 

	 	
			13.1.5

				
			is convicted of any criminal offence other than a minor motoring offence which does not render him unable to discharge his duties;

			

 

	 	
			13.1.6

				
			becomes of unsound mind or a patient for the purpose of any statute relating to mental health;

			

 

	 	
			13.1.7

				
			becomes prohibited by law from being a company director; and/or

			

 

	 	
			13.1.8

				
			shall resign (at his own choice) as a statutory director of the Company, not being at the request of the Company or Board.

			

 

 

-14-

 

This list is not exhaustive.

 

	
			13.2

				
			The Company reserves the right to suspend the Executive on full pay from his duties for such a period as may be reasonably necessary to investigate any allegation of any misconduct. Further examples of misconduct are set out in the Company's disciplinary policy.

			

 

	
			13.3

				
			The termination by the Company of this Agreement shall be without prejudice to any claim which the Company may have for damages arising from any breach thereof by the Executive giving rise to such termination.

			

 

	
			13.4

				
			If before the expiry or termination of this Agreement it shall be terminated by reason of the winding up of the Company or otherwise for the purpose of reconstruction or amalgamation and the Executive shall be offered employment with any company concern or undertaking resulting from such reconstruction or amalgamation on terms which are not materially less favourable to him than the terms of this Agreement then he shall have no claim against the Company in respect of the termination of this Agreement.

			

 

	
			13.5

				
			Upon termination of this Agreement for whatsoever reason:

			

 

	 	
			13.5.1

				
			the Executive shall deliver up to the Company all notes memoranda and other correspondence documents papers, computer discs and property belonging to or containing material relating to the Company or any other member of the Group which may have been prepared by him or have come into his possession and shall not retain any copies thereof and shall not permit the same to be used by any party; and

			

 

	 	
			13.5.2

				
			without prejudice to any rights of the Executive to compensation damages or otherwise the Executive shall forthwith upon the request of the Company resign from office as a director of the Company and from all offices held by him in any other member of the Group. If the appropriate resignations are not signed and delivered by the Executive to the Board within seven days after such request the Board may appoint any one of its members to sign the notices of resignation as attorney for and on behalf of the Executive and the Executive hereby irrevocably appoints any of the other members of the Board as his attorney for such purpose and to do all other things requisite to give effect thereto.

			

 

	
			13.6

				
			It shall be a condition of participation in any share option, share award, share purchase or other share based scheme from time to time operated by the Company or any other company in the Group in which the Executive participates or shall be entitled to participate that, in the event of the termination of the Executive's employment with the Company for whatever reason whether lawful or not, in circumstances which could give rise to a claim for wrongful and/or unfair dismissal (whether or not it is known at the time of dismissal that such a claim may ensue), the Executive shall not by virtue of such dismissal become entitled to any damages or any additional damages in respect of any rights or expectations of whatsoever nature he may have under any such schemes.

			

 

	
			13.7

				
			The Executive will be required to execute a Settlement Agreement , within 14 days of when the Executive is provided notice that his employment is terminated, in order for the Executive to continue to receive his Salary, any payments or benefits to which he may be entitled under the Retention Plan or the Change in control Plan, or any other compensation or benefits to which the Executive may be entitled pursuant to the terms of this Agreement, after the Executive is provided notice by the Company that his employment is terminated, other than Salary, compensation, or benefits accrued for service provided through the date of such notice.

			

 

 

-15-

 

	
			14.

				
			RESTRICTIONS

			

 

	
			14.1

				
			The Executive agrees, without prejudice to any other duty implied by law or equity that he will not, directly or indirectly, without the express written consent of the Board for his own account or for any other person, firm or company:

			

 

	 	
			14.1.1

				
			for a period of twelve months from the Termination Date (the "Restricted Period'') carry on or be engaged or concerned or interested in any business concerning Restricted Products and/or Restricted Services in competition with any Relevant Company in any country in which such Relevant Company is conducting such business at the Termination Date; provided, that the Restricted Period shall be reduced by any period of notice prior to the Termination Date provided pursuant to Section 2.2 hereof;

			

 

	 	
			14.1.2

				
			for the Restricted Period employ in any capacity or offer employment in any capacity to or enter into or offer to enter into partnership with any Director and/or Senior Employee;

			

 

	 	
			14.1.3

				
			for the Restricted Period in competition with any Relevant Company, canvas or solicit business orders or custom for Restricted Products or Restricted Services from, or deal with any Restricted Persons;

			

 

	 	
			14.1.4

				
			for the Restricted Period solicit or entice away or endeavour to entice away from any Relevant Company any Director and/or Senior Employee;

			

 

	 	
			14.1.5

				
			for the Restricted Period entice or endeavour to entice away from any Relevant Company any Restricted Person or induce or attempt to induce any Supplier of any Relevant Company to cease to supply or to restrict or vary the terms of supply to the Relevant Company;

			

 

	 	
			14.1.6

				
			at any time following the Termination Date or, if sooner, the cessation of his directorship of a Relevant Company, represent himself or permit himself to be held out as being in anyway connected with or interested (except as a shareholder or consultant if that is the case) in the business of such company; or

			

 

	 	
			14.1.7

				
			at any time following the Termination Date publish or otherwise communicate any disparaging or derogatory statements whether in writing or otherwise concerning the Relevant Company or any of their officers or employees or consultants.

			

 

	
			14.2

				
			The Executive shall not induce procure or authorise any other person firm corporation or organisation to do or procure to be done anything which if done by the Executive would be a breach of any of the provisions of Clause 14.1.

			

 

	
			14.3

				
			The period of the restrictions set out in Clause 14.1 above shall be reduced pro rata by any period during which the Company suspends the Executive from the performance of his duties pursuant to Clause 3.8 above.

			

 

 

-16-

 

	
			14.4

				
			Each of the restrictions contained in Clause 14.1 shall be construed as separate restrictions and are considered reasonable by the Executive but in the event that any such restriction shall be found to be void but would be valid if some part thereof were deleted or the period or area of application reduced such restriction shall apply with such modification as may be necessary to make it valid and effective.

			

 

	
			15.

				
			PRIOR AGREEMENTS

			

 

	
			15.1

				
			This Agreement shall take effect on and from the Commencement Date as from which date all other agreements or arrangements whether written or oral express or implied between the Executive and the Company or any member of the Group relating to the services or employment of the Executive shall be deemed to have been cancelled.

			

 

	
			16.

				
			DISCIPLINARY AND GRIEVANCE PROCEDURE

			

 

	
			16.1

				
			A copy of the disciplinary and grievance rules of the Company for the time being in force can be obtained from the Human Resources Department of the Company on request.

			

 

	
			16.2

				
			If the Executive wishes to seek redress of any grievance relating to his employment he should apply in the first instance to the Chief Executive of the Company.

			

 

	
			16.3

				
			For the avoidance of doubt, to the extent permitted by law:

			

 

	 	
			16.3.1

				
			any disciplinary or grievance procedure adopted by the Company shall be of a policy nature only;

			

 

	 	
			16.3.2

				
			the Company reserves the right to changes these policies from time to time; and

			

 

	 	
			16.3.3

				
			the Company may apply these policies to the extent it sees fit at its sole discretion in the circumstances.

			

 

	
			17.

				
			GENERAL

			

 

	
			17.1

				
			Any notices required to be given under the provisions of this Agreement shall be in writing and shall be deemed to have been duly served if hand delivered or sent by facsimile by first class registered or recorded delivery post correctly addressed to the relevant party's address as specified in this Agreement or at such other address as either party may designate from time to time in accordance with this Clause.

			

 

	
			17.2

				
			Any notice under this Agreement shall be deemed to have been served:

			

 

	 	
			17.2.1

				
			if hand delivered, at the time of delivery;

			

 

	 	
			17.2.2

				
			if sent by facsimile, within eight hours of transmission during business hours at its destination or within 24 hours if not within business hours but subject to proof by the sender that he holds an acknowledgement from the addressee confirming receipt of the transmitted notice in readable form; and

			

 

	 	
			17.2.3

				
			if sent by post, within 48 hours of posting (exclusive of the hours of Sunday);

			

 

 

-17-

 

	
			17.3

				
			There are no collective agreements which affect the terms and conditions of the Executive's employment.

			

 

	
			17.4

				
			The construction validity and performance of this Agreement shall be governed by and construed in accordance with the laws of England. Each party irrevocably submits to the exclusive jurisdiction of the courts of England over any claim or matter arising under or in connection with the Agreement or the legal relationships established by it.

			

 

 

-18-

 

IN WITNESS whereof these presents have been duly executed as a Deed by the Executive and under hand by the Company the day and the year first above written.

 

	
			EXECUTED and DELIVERED as

				 	 
	
			a DEED by MR JOHN MCALISTER

				
			)

				/s/ John McAlister
	
			in the presence of: /s/ Gordan M Bentham

				
			)

				 
	
			Name of witness, please print Gordan M Bentham

				
			)

				 
	
			Date 29 September 2021

				
			)

				 
	 	 	 
	
			SIGNED by 

				
			)

				/s/ Alistair Geddes
	
			a director duly authorised for an on behalf

				 	 
	
			of EXPRO NORTH SEA LTD

				 	 
	
			in the presence of: /s/ Anthony Cooke

				
			)

				 
	
			Name of witness, please print Anthony Cooke

				
			)

				 
	
			Date 30 September 2021

				
			)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00341-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00341-of-00352.parquet"}]]