Document:

Director Compensation

 Exhibit 10.22 
 2011 DIRECTOR COMPENSATION 
 Effective March 8, 2011, directors who
are not executive officers of StoneMor GP LLC, the general partner of StoneMor Partners L.P., shall receive the following compensation for their services on the board of directors (the “Board”) and committees of the Board: 

 

	 	•	 	 an annual retainer consisting of: (i) $22,500 payable in cash, (ii) $12,500 payable in deferred restricted phantom units; and
(iii) $10,000 payable in cash or deferred restricted phantom units; 

  

	 	•	 	 a meeting fee of $1,000 for each meeting of the Board attended in person and a meeting fee of $750 for each committee meeting attended in person; and

  

	 	•	 	 a fee of $500 for participation in each telephone Board call that lasts longer than one hour, but less than two hours, and a fee of $1,000 for
participation in each telephone Board call that lasts two or more hours. 

 In addition, the chairman of our
Audit Committee receives an annual retainer of $10,000 and the chairman of each of our compensation committee and trusts and compliance committee receives an annual retainer of $2,500 for serving as chairmen of Board committees.Translation of Additional Agreement No.4 for Extension of Term

 Exhibit 10.14 
 Additional Agreement No. 4 (Four) for Extension of Term 
 Contract
No. 424048860 
 Merco Industrial Engineering SA de CV / Forbes Energy Services LTD. (Joint Proposal) 

 

 

 EXPLORATION AND PRODUCTION 
 Office of the Manager of Finance for Drilling 
 Office of the Assistant Manager of
Administration and Finance, Northern Region 
 Office of the Superintendent of Material Resources 

Office for Assessment, Monitoring and Control of Supply Contracts 
 Additional Agreement No. 4 (Four) for Extension of Term to the public works contract No. 424048860 based on unit prices between PEMEX - Exploration and Production, decentralized public agency of
the Federal Government, which in this document shall be identified as “PEP”, represented by Mr. Juan Javier Hinojosa Puebla, in his capacity as Deputy Head of Unit Drilling and Well Maintenance, and on the Merco Industrial Engineering
SA de CV and Forbes Energy Services LTD, who shall be referred to as the “Contractor”, the former of which is represented by Luis Lauro Moreno Ricart, in his capacity as Sole Manager, and the latter by Jose Andres Suarez Canales in his
capacity as Special Agent, in accordance with the following records, statements, and clauses: 
 ~Records~ 

 

	I.	On September 26, 2008, as a result of International Competitive Bidding which is practiced in accordance with Free Trade Agreements signed by the United Mexican
States Number 18575051-027-08, and based on Articles 134 of the Constitution of the United Mexican States, 3 subsection II, 26 subsection I, 27 Section I, 28, 30 Section II paragraph a) and 34 of the Public Works and Related Services Law, the
parties entered into the contract in question, for the implementation of services related to: “Repair and maintenance work on wells in the Poza Rica - Altamira Northern Region (Packet I).” 

 

	II.	The contract was executed for a total of $234,256,757.01 MN (Moneda Nacional/National Currency—Pesos) plus $48,842,604.99 USD plus Value Added Tax and a lead time
of 730 calendar days from September 26, 2008 and ending September 25, 2010. 

  

	III.	As part of the original contract, the parties signed the following appendices: 

 

			
	Appendix A	  	LAYOUTS AND THEIR COMMUNICATION
		
	Appendix B	  	GENERAL SPECIFICATIONS AND OTHER PROJECT
		
		  	SPECIFICATIONS
		
	Appendix B-1	  	STANDARDS
		
	Appendix DE-10	  	ITEM CHART/CATALOGUE
		
	Appendix DE-10A	  	UNIT PRICE LIST

 PAGE 1 OF 10 

 Additional Agreement No. 4 (Four) for Extension of Term 

Contract No. 424048860 
 Merco Industrial Engineering SA de CV / Forbes Energy Services LTD. (Joint Proposal) 
  

			
	Appendix DT-12	  	SCHEDULED PROGRAM OF OVERALL JOB IMPLEMENTATION
		
	Appendix DT-3	  	LIST OF EQUIPMENT AND/OR EQUIPMENT AND PHYSICAL
		
		  	LOCATION
		
	Appendix DT-10	  	LIST OF SUPPLIES INVOLVED IN THE INTEGRATION OF THE
		
		  	PROPOSAL
		
	Appendix DSP	  	MATERIALS AND EQUIPMENT FOR PERMANENT
		
		  	INSTALLATION TO BE PROVIDED BY PEP
		
	Appendix “E”	  	EQUIPMENT AND/OR EQUIPMENT TO BE PROVIDED BY PEP
		
		  	(OTHER THAN EQUIPMENT FOR PERMANENT INSTALLATION)
		
	Appendix G	  	DOCUMENTATION REQUIRED BY FUNDING SOURCES
		
	Appendix G-1	  	CERTIFICATE ON THE COUNTRY OF ORIGIN OF GOODS AND/OR
		
		  	SERVICES
		
	Appendix S	  	RESPONSIBILITY TO SAFETY, OCCUPATIONAL HEALTH, AND
		
		  	ENVIRONMENTAL PROTECTION OF PROVIDERS OR
		
		  	CONTRACTORS PERFORMING WORK IN PEMEX EXPLORATION
		
		  	AND PRODUCTION FACILITIES
		
	Appendix BEO	  	TERMS AND CONDITIONS OF USE OF THE ELECTRONIC LOG
		
	Appendix DT-17	  	PRIVATE AGREEMENT REGARDING JOING PROPOSAL

  

	IV.	On December 4, 2009 both parties entered into Agreement No. 1, Inclusion of Projects and New Items with Additional Increase of Amount by which PEP and the
Contractor agree to implement the work under this contract on site at Tertiary Gulf Oil (Activo Integral Aceite Terciario del Golfo) which belongs to the Northern Region of PEMEX Exploration and Production, at prices originally agreed upon,
for which the Contractor agrees to make no additional charge for the execution of services, as long as these are of the same nature and scope as those contained in the original contract. 

Likewise, the parties agree to include 16 New Items corresponding to extraordinary items: 6.9, 15.1, 15.2, 15.3, 15.4, 15.5, 15.6, 15.7,
15.8, 15.9, 15.10, 15.11, 15.12, 15.13, 15.14, and 15.15, as detailed in Additional Appendix “B” which supplements Appendix “B” and Appendix “DE- 10A-1” which complements the Appendix “DE-10A”, all of which
are an integral part of this agreement. 
 Additionally, the parties agree to extend the contract amount by $41,043,200.00 MN
plus $21,000,000.00 USD which added to the amount of the original contract of $234,256,757.01 MN plus $48,842,604.99 USD results in a further sum of $75,299,957.01 MN plus $69,842,604.99 USD. 

The percentage of extension/increase is 17.52% in MN plus 43.00% in USD with respect to the amount of the original contract. 

PAGE 2 OF 10 

  

 Additional Agreement No. 4 (Four) for Extension of Term 

Contract No. 424048860 
 Merco Industrial Engineering SA de CV / Forbes Energy Services LTD. (Joint Proposal) 
  

	V.	On September 20, 2010 both parties entered into Agreement No. 2, Extension of Deadline, by which PEP and the Contractor agree to extend the completion date by
97 calendar days added to the timeline established by the original contract of 730 calendar days, resulting in a new timeline of 827 days resulting in a new contract termination date of December 31, 2010. 

The percentage of extension/increase is 13.29% with respect to the term of the original contract. 

 

	VI.	On October 22, 2010 both parties entered into Agreement No. 3, Adding New Items Without Increasing the Amount in which PEP and the Contractor agree to include
27 New items, such as detailed in Additional Appendix “B” 1 and Appendix DE-10A-1, which complements Appendix DE-10A an integral part of this agreement. 

 

	VII.	In Memorandum No. 203-21000-21600-2926/2010 dated 17 December 2010 and Technical Report, the Assistant Manager of Contract Services, Northern Division,
requested from the Assistant of Administration and Finance, Northern Division, the preparation of an agreement to extend the termination/completion date of contract 24048860. This is according to the following justification contained in the
technical report itself: 

 By way of Memoranda Nos. 208-21000-21600-3389-2010 and 227-21000-21700-02176/2010 the
Operating Units of Tertiary Gulf Oil and Poza Rica - Altamira (Unidades Operativas Aceite Terciario Del Golfo y Poza Rica) respectively asked the Assistant Manager of Contract Services D. N. to make the necessary arrangements to enter into an
agreement extending the term and amount of contract 424048860, i.e. to comply with the repairs of wells listed in Operational Program 2011 (POT-I 2011) of Tertiary Gulf Oil (Activo Integral Aceite Terciario del Golfo). 

According to the POT-I 2011, Tertiary Gulf Oil (Activo Integral Aceite Terciario del Golfo) has scheduled a total of 499 repairs, of which
313 are major and 186 minor. 
 POT-I 2011 AIATG 

 

																																																					
	AIATG
	  	ENE	 	  	FEB	 	  	MAR	 	  	ABR	 	  	MAY	 	  	JUN	 	  	JUL	 	  	AGO	 	  	SEP	 	  	OCT	 	  	NOV	 	  	DIC	 	  	TOTAL	 
	 PER
	  	 	15	  	  	 	15	  	  	 	15	  	  	 	16	  	  	 	14	  	  	 	14	  	  	 	15	  	  	 	15	  	  	 	16	  	  	 	13	  	  	 	14	  	  	 	16	  	  	 	178	  
	 TER
	  	 	41	  	  	 	45	  	  	 	43	  	  	 	36	  	  	 	37	  	  	 	23	  	  	 	17	  	  	 	14	  	  	 	16	  	  	 	17	  	  	 	15	  	  	 	15	  	  	 	319	  
	 RMA
	  	 	19	  	  	 	26	  	  	 	26	  	  	 	28	  	  	 	25	  	  	 	26	  	  	 	25	  	  	 	30	  	  	 	26	  	  	 	27	  	  	 	27	  	  	 	28	  	  	 	313	  
	 RME
	  	 	9	  	  	 	14	  	  	 	16	  	  	 	17	  	  	 	18	  	  	 	18	  	  	 	15	  	  	 	14	  	  	 	15	  	  	 	18	  	  	 	16	  	  	 	16	  	  	 	186	  

  

																																																							
	RMA	 	PROYECTO
	 	ENE
	 	 	FEB
	 	 	MAR
	 	 	ABR
	 	 	MAY
	 	 	JUN
	 	 	JUL
	 	 	AGO
	 	 	SEP
	 	 	OCT
	 	 	NOV
	 	 	DIC
	 	 	TOTAL
	 
	[11A]	 	AGUA FRIA-COAPECHACA-TAJIN	 	 	15	  	 	 	8	  	 	 	12	  	 	 	10	  	 	 	18	  	 	 	12	  	 	 	12	  	 	 	15	  	 	 	19	  	 	 	20	  	 	 	15	  	 	 	18	  	 	 	174	  
	[11D]	 	AMATITLAN-PROFETA-TZAPOTEMPA-VINAZCO	 	 	2	  	 	 	12	  	 	 	10	  	 	 	17	  	 	 	7	  	 	 	14	  	 	 	13	  	 	 	15	  	 	 	2	  	 	 	1	  	 	 	—  	  	 	 	—  	  	 	 	93	  
	[11E]	 	INTEGRAL COYULA-JAPETO	 	 	2	  	 	 	2	  	 	 	1	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	5	  
	[11G]	 	AREA 5 CHICONTEPEC	 	 	—  	  	 	 	4	  	 	 	3	  	 	 	1	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	5	  	 	 	6	  	 	 	12	  	 	 	10	  	 	 	41	  
		 	TOTAL
RMA	 	 
	19
	 
 	 	 
	26
	 
 	 	 
	26
	 
 	 	 
	28
	 
 	 	 
	25
	 
 	 	 
	26
	 
 	 	 
	25
	 
 	 	 
	30
	 
 	 	 
	26
	 
 	 	 
	27
	 
 	 	 
	27
	 
 	 	 
	28
	 
 	 	 
	313
	 
 
		 		 				 				 				 				 				 				 				 				 				 				 				 				 			
															
	RME
	 	PROYECTO	 	 
	ENE
	 
 	 	 
	FEB
	 
 	 	 
	MAR
	 
 	 	 
	ABR
	 
 	 	 
	MAY
	 
 	 	 
	JUN
	 
 	 	 
	JUL
	 
 	 	 
	AGO
	 
 	 	 
	SEP
	 
 	 	 
	OCT
	 
 	 	 
	NOV
	 
 	 	 
	DIC
	 
 	 	 
	TOTAL
	 
 
	[11A]	 	AGUA FRIA-COAPECHACA-TAJIN	 	 	3	  	 	 	8	  	 	 	8	  	 	 	8	  	 	 	8	  	 	 	6	  	 	 	1	  	 	 	—  	  	 	 	2	  	 	 	6	  	 	 	4	  	 	 	2	  	 	 	56	  

 PAGE 3 OF 10

  

 Additional Agreement No. 4 (Four) for Extension of Term 

Contract No. 424048860 
 Merco Industrial Engineering SA de CV / Forbes Energy Services LTD. (Joint Proposal) 
  

 [PAGE BREAK] 
  

																																																					
	[11A] AGUA FRIA-COAPECHACA-TAJIN	 	 	3	  	 	 	8	  	 	 	8	  	 	 	8	  	 	 	8	  	 	 	6	  	 	 	1	  	 	 	—  	  	 	 	2	  	 	 	6	  	 	 	4	  	 	 	2	  	 	 	56 	  
	 [11D] AMATITLAN-PROFETA-TZAPOTEMPA-VINAZCO
	 	 	6	  	 	 	6	  	 	 	8	  	 	 	9	  	 	 	8	  	 	 	9	  	 	 	10	  	 	 	10	  	 	 	12	  	 	 	9	  	 	 	9	  	 	 	14	  	 	 	110 	  
	 [11E] INTEGRAL COYULA - JAPETO
	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	2	  	 	 	3	  	 	 	—  	  	 	 	4	  	 	 	1	  	 	 	3	  	 	 	3	  	 	 	—  	  	 	 	16 	  
	 [11I] HUMAPA - BORNITA
	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	4	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	4 	  
	 TOTAL RME
	 	 	9	  	 	 	14	  	 	 	16	  	 	 	17	  	 	 	18	  	 	 	18	  	 	 	15	  	 	 	14	  	 	 	15	  	 	 	18	  	 	 	16	  	 	 	16	  	 	 	186 	  
		 				 				 				 				 				 				 				 				 				 				 				 				 			
	 GRAN TOTAL
	 	 	28	  	 	 	40	  	 	 	42	  	 	 	45	  	 	 	43	  	 	 	44	  	 	 	40	  	 	 	44	  	 	 	41	  	 	 	45	  	 	 	43	  	 	 	44	  	 	 	499 	  

Since PEP does not have repair kits available in order to operate under Tertiary Gulf Oil (Activo Integral Aceite Terciario del Golfo), and in order to
comply with the operational program described above, that office has scheduled interventions with equipment that is under the purview of this contract. 
 It is important to note, that because the contract ends its term this year, Management Well Drilling and Maintenance North Division, in anticipation of such a situation, by way of the Assistant Manager of
Contract Services, with Memos Nos. 203-21000-216000-1488-2011, 203-21000-216000-1489- 2010 and 2903-21000-216000-1490-2010 dated July 1, 2010, requested that the Assistant Manager of Finance continue with the procurement process relating to
Works of Restoration of Production with respect to the Assets in the Northern Region (Packets I, II, III), for which, all the required and appropriate documentation was generated in accordance with the Public Works and Related Services Law.

 However, due to the statement issued by the Office of the Attorney General of Mexican Oil and Petroleum, dated July 2, 2010, by which it
instructed that from that date, all purchases, leases, services and works that require the hiring of Mexican Oil and Petroleum (Petroleros Mexicanos) and its subsidiary bodies dealing directly with Substantive Activities of Production (Actividades
Sustantivas de Carácter Productivo) referred to in the third and fourth articles of the Regulatory Law of Article 27 of the Constitution of the Petroleum Sector, should be conducted in accordance with the provisions of the Law of Mexican Oil
and Petroleum (Petroleos Mexicanos), its Regulations and the Administrative provisions of Procurement (DAC). 
 For such purposes, several
workshops were conducted that explained the new guidelines to follow, noting that conducted on 01 September 2010 in the City of Villahermosa, Tabasco, in which were established general and basic elements, guidelines and practical suggestions
that would allow for efficient implementation of the new Pemex Exploration and Production (PEP) recruitment scheme through the application of Administrative Provisions of Trading Order/Hiring/Contracting (DAC) in matters of Procurements, Leases,
Construction, and Services corresponding to the Mexican Oil and Petroleum Law (Ley de Petróleos Mexicanos). 
 Under these circumstances,
it was imminent that the program originally scheduled for bids for these contracts, be delayed because the projects of call which were generated for Works of Restoration of Production (Packets I, II, III) had to be adequate and supplemented in
accordance with the provisions and requirements of the new regulations cited above. 
 PAGE 4 OF 10 

  

 Additional Agreement No. 4 (Four) for Extension of Term 

Contract No. 424048860 
 Merco Industrial Engineering SA de CV / Forbes Energy Services LTD. (Joint Proposal) 
  

 [PAGE BREAK] 
 It is important to mention that as part of the new regulations for Pemex, the projects of call/bidding, depending on the amount of the contract as appropriate, is subject to Review by a Works Subgroup
(Subgroup A and B for contracts, Subgroup for Sub-contracts C and D procurement by Region), the same functions as an intermediary body between the Project Manager and Procurement Group PEP in order that according to her official opinion, the
projects are approved by the PEP Contracting group. 
 The review sessions each subgroup will hold, shall be convened in accordance with the
approval requirements requested by the Administrative Project Areas (Areas Admimistradoras de los Proyectos), taking into consideration PEP Procurement Group sessions and the Committee on Procurement, Leasing, Works and Services, and the
Board of PEP or Pemex, as appropriate. 
 This reinforces the need for an extension in term of the contract in question, pending the processing
of Public International Bids for contracting of Works of Restoration of Production I, II, and III. Taking into account the time needed for meeting of the [sic] Works Subgroup of the PEP Contracting Group (45 days), plus the bidding process (75 to
100 calendar days on average), which includes the publication of bidding, clarification meetings, presentation of proposal, stage evaluation of proposals, even the adjudication of bidding, and the process of formalization. 

Considering the times described, there would be tentatively in new contracts dates indicated in the chart shown below, taking into account that
possibility that the winning companies of these bids may be foreign and may not be located in this country, they are granted a term of 30 calendar days for the arrival of equipment: 

 

																																																					
	 [11A] AGUA FRIA-COAPECHACA-TAIIN
	 	 	3	  	 	 	8	  	 	 	8	  	 	 	8	  	 	 	8	  	 	 	6	  	 	 	1	  	 	 	—  	  	 	 	2	  	 	 	6	  	 	 	4	  	 	 	2	  	 	 	56	  
	 [11D] AMATITLAN-PROFETA-TZAPOTEMPA-VINAZCO
	 	 	6	  	 	 	6	  	 	 	8	  	 	 	9	  	 	 	8	  	 	 	9	  	 	 	10	  	 	 	10	  	 	 	12	  	 	 	9	  	 	 	9	  	 	 	14	  	 	 	110	  
	 [11E] INTEGRAL COYULA - JAPETO
	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	2	  	 	 	3	  	 	 	—  	  	 	 	4	  	 	 	1	  	 	 	3	  	 	 	3	  	 	 	—  	  	 	 	16	  
	 [11I] HUMAPA - BORNITA
	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	4	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	4	  
	 TOTAL RME
	 	 	9	  	 	 	14	  	 	 	16	  	 	 	17	  	 	 	18	  	 	 	18	  	 	 	15	  	 	 	14	  	 	 	15	  	 	 	18	  	 	 	16	  	 	 	16	  	 	 	186	  
		 				 				 				 				 				 				 				 				 				 				 				 				 			
	 GRAN TOTAL
	 	 	28	  	 	 	40	  	 	 	42	  	 	 	45	  	 	 	43	  	 	 	44	  	 	 	40	  	 	 	44	  	 	 	41	  	 	 	45	  	 	 	43	  	 	 	44	  	 	 	499	  

PAGE 5 OF 10 

  

 Additional Agreement No. 4 (Four) for Extension of Term 

Contract No. 424048860 
 Merco Industrial Engineering SA de CV / Forbes Energy Services LTD. (Joint Proposal) 
  

 As a result of the aforementioned, an extension of the term of the contract to December 31, 2011 is
required. 
 In order to assist with resource optimization strategies of PEP, the Industrial Engineering Contractor Merco SA de CV and Forbes
Energy Services Ltd. (Joint Proposal), by way of Memorandum number 104-2010 dated December 17, 2010, offered a discounted rate, which is detailed below: 
 The contractor shall grant PEP, in advance, a net discount of 8% to unit prices established in the Items Catalog, Format “DE-10”, on new work orders under the contract in question, that the sole
interest in continuing its implementation and to assist in optimizing budgetary resources for the Tertiary Gulf Oil (Activo Integral Aceite Terciario del Golfo) project in 2011, this discount is not retroactive, and will be effective upon
approval of this agreement. 
 Currently found in SAP/R3 system, the contract has spent a total of $252’247,822.07 [sic] plus
$69’081,663.39 [sic] USD (Sixty-nine million eighty-one thousand six hundred sixty-three U.S. dollars 9/100 USD) and has a balance of $ 23’052,134.94 MN plus $760,941.60 USD, so that, in the case of the need to increase the amount of the
contract, steps shall be taken subsequently according to the operational requirements of the Administrative Office of Tertiary Gulf Oil (Activo Integral Aceite Terciario del Golfo) and the Poza Rica-Altamira assets. 

The development of this agreement will not affect the conditions that refer to nature and essential characteristics of the object of the original
contract. 
 ~Statements~ 
 PEP states through its representative that: 
  

	1.	It accredits the powers of Mr. Juan Javier Hinojosa Puebla as Deputy Director of the Well Drilling and Maintenance Unit in accordance with the approved appointment
by the PEP Board of Directors Regular Session No. 124 dated March 23, 2009 in terms of articles 5 and Third Transitional Law of Petroleos Mexicanos, published in the Official Journal of the Federation on November 28, 2008, likewise,
credits his powers as Attorney General for Litigation and Collections, Administrative Letters and Management of Pemex Exploration and Production, by testimony of Deed Number 130024, book 4579 dated 29 May 2009 , granted before the lawyer
Armando Galvez Aragón Pérez, Head of the Notary Public number 103 in Mexico City, Federal District, that these powers have not been revoked, limited, or modified in any way and therefore has power to enter into this agreement.

 PAGE 6 OF 10 

  

 Additional Agreement No. 4 (Four) for Extension of Term 

Contract No. 424048860 
 Merco Industrial Engineering SA de CV / Forbes Energy Services LTD. (Joint Proposal) 
  

	2.	Has approved budgetary resources available to cover the payments arising from the provision of services under this contract for the budget year 2011.

 The Contractor declares that: 
  

	1.	Lauro Luis Moreno Ricart credits his person and powers as the Sole Administrator Merco Industrial Engineering SA de CV, through testimony of the Public Deed
No. 2053, dated September 5, 2003, granted before Notary Public number 115 of Reynosa City, Tamaulipas, Jacinto Pena Flores, enrolled in the Public Registry of Commerce of Reynosa, Tamaulipas, under section 2-016 volume number 775 business
section on October 1, 2003, having never been revoked, modified, or limited in any way. 

  

	2.	Jose Andrés Suarez Canales credits his person and powers as a Special Agent of Forbes Energy Services Company LTD, with the Notarial Act No. 12394 dated
October 6, 2009, granted before Mr. A. Ramses Capitanachi Lopez, Notary Public No. 7 of the Seventh Demarcation of Notaries of the state of Veracruz, an instrument that is properly enrolled in the Public Registry of Property and
Commerce of Poza Rica, Veracruz, in the Electronic Commercial Folio No. 7322*7 [sic] dated October 22, 2009. 

  

	3.	The offer volunteered to “PEP” applying, from the date of execution of this agreement, 8% (Eight percent) discount on the total amount of services to be
billed under this agreement. 

  

	4.	The Contractor has reviewed and analyzed the percentage of discount offered and states that Contractor maintains solvent its costs and fully viable execution of the
services provided without detriment to the quality or timing thereof, under the terms agreed in the contract. 

 For all the
above, and based on the provisions of the Contract Clause 15 and Article 59 of the Law of Public Works and Related Services, and Articles 69 and 70 of the Regulations of the Public Works Act and Related Services, the parties agree to the following:

 ~Clauses~ 

First: Additional Extension of Contract Timeline/Term. 
 As stated in Record VII of this instrument, the parties agree to extend the lead time by 365 (Three hundred sixty-five) calendar days, which, added to the delay arising from Agreement No. 3 (Three)
of 827 (eight hundred twenty-seven) calendar days, results in a new period of performance of 1,192 (One thousand one hundred ninety-two) calendar days, leaving a new contract termination date of December 31, 2011. 

The percentage of extension is an increase of 50.00% which added to the 13.29% derived from Agreement No. 3 results in a total percentage extension
of 63.29% over the original contract term. 
 PAGE 7 OF 10 

  

 Additional Agreement No. 4 (Four) for Extension of Term 

Contract No. 424048860 
 Merco Industrial Engineering SA de CV / Forbes Energy Services LTD. (Joint Proposal) 
  

 Second: Modification of Term/Completion Date. 

Resulting from the preceding clause, eleventh clause of the contract regarding “Completion Term/Timeline”, to read as follows: 

The CONTRACTOR agrees to perform the work under this contract at 1,192 calendar days from the September 26, 2008 and completed no later than on
December 31, 2011, in accordance with terms agreed upon in the contract and its appendices. 
 Third: Discount Offered.

 Regarding the offer referred to in Contractor’s statements No. 3 and No. 4 of this agreement, the Contractor agrees to submit
separate billing for services provided under this agreement, affecting the total amount billed for these items, with the percentage of 8% (eight percent) which the Contractor offers as a discount to PEP on payment to which it is entitled to receive
for the performance of services, estimated in the period. 
 The aforementioned, with the understanding that the original contract prices remain
fixed until the completion of contracted work, this being a discount offered by the Contractor applicable to the billing work once implemented, in this document and by signing of this instrument desists any payment of the amount of the discount
offered to “PEP” and frees PEP from any responsibility for the ascertainment of the offer. 
 This on the basis of the provisions of
Article 1832 of the Federal Civil Code, applied in addition to the Law of Public Works and Services Related to the same in accordance with Article 13. 
 Fourth: Endorsement Guarantees. 
 The Contractor, to ensure compliance with its
obligations under this agreement, agrees to deliver to the Superintendency of Material Resources, the Assistant Manager of Administration and Finance, Drilling and Well Maintenance, Northern Division, with offices in the Administration Building of
Drilling Management and Maintenance of Wells, Northern Division, Ground Floor, Colonia Herradura, DP 93370, of this city, or no later than the date of execution of this agreement, a term extension endorsement to the Bond of Due Compliance, which was
established in Clause Seventeen and insurance policy that was established in the Eighteenth Clause of the contract in question, for a period of 365 days, equivalent to 50.00% extension of the original term contract, so its effect will be until
31 December 2011, indicating that they are integral, and inseparable from the original bond, delivered to ensure compliance with the contract, protecting the terms of this agreement, on the understanding that the lack of timely submission of
these documents, empower PEP to suspend payment of invoices for work performed under the extended deadline, which have been submitted or presented for payment, up until those policies are delivered endorsements successfully, without such suspension
generated by the payment of expenses, for reasons attributable to the Contractor and may itself be grounds for termination of the contract. 
 PAGE 8 OF 10 

  

 Additional Agreement No. 4 (Four) for Extension of Term 

Contract No. 424048860 
 Merco Industrial Engineering SA de CV / Forbes Energy Services LTD. (Joint Proposal) 
  

 Fifth: Other Provisions. 
 With the exception of the clauses amended, which must be understood in the terms agreed here which remain unabated, all terms of the contract, its appendices and agreements as amended, and the amount
derived from Agreement No. 1 of $275,299,957.01 MN plus $69.842,604.99 USD plus Value Added Tax. 
 After having read this instrument by
the parties thereto and duly aware of the content and scope of it, the parties hereby sign it under in 3 copies in the city of Poza Rica de Hidalgo., Veracruz, on December 31, 2010. 

 

					
	 For Merco Industrial Engineering S.A. de C.V.
	 		  	Forbes Energy Services LTD.
			
	 /s/ Luis Lauro Moreno Ricart
	 		  	/s/ Jose Andres Suarez Canales
	 Luis Lauro Moreno Ricart
	 		  	Jose Andres Suarez Canales
	 Sole Administrator
	 		  	Special Agent

 For PEMEX Exploration and
Production 
     /s/ Juan Javier Hinojosa Puebla     

Juan Javier Hinojosa Puebla 
 Deputy Head of Drilling and Well Maintenance Unit 
 Signing this agreement on behalf of
Pemex-Exploration and Production, under which Mr. Juan Alfredo Ríos Jimenez, currently serves as Office Manager of the Management of Drilling and Well Maintenance, Northern Division, according to bid-UPMP 1611-2010 dated 19 October
2010 that endorsed Mr. Juan Javier Hinojosa Puebla. 
 Review 

PEMEX Exploration and Production 
     /s/ Juan Alfredo Ríos Jimenez     
 Juan Alfredo Ríos Jimenez 
 E. D. Management of Drilling and 

Well Maintenance Northern Division of 
 Well Drilling and Maintenance Unit 
  

					
	 Administrative
	 		  	Technical
			
	 /s/ Javier Alvarez Maya
	 		  	/s/ Jorge Medellin Verduzco
	 Javier Alvarez Maya
	 		  	Jorge Medellin Verduzco
	 E. D. Assistant Manager of Administration
	 		  	E. D. Assistant Manager of
	 and Finance, North
	 		  	Contract Services, P.M.P, D.N.

 PAGE 9 OF 10

  

 Additional Agreement No. 4 (Four) for Extension of Term 

Contract No. 424048860 
 Merco Industrial Engineering SA de CV / Forbes Energy Services LTD. (Joint Proposal) 
  

 Prepared by 

    /s/ Hugo Amaya Enderle     

Hugo Amaya Enderle 

Superintendent of Material Resources 
 Legal 
 Review 

    /s/ Mr. Eduardo Martinez Montesinos     

Mr. Eduardo Martinez Montesinos 
 Deputy Legal Services 
 Poza Rica, Northeast 

 

			
	
 

	  	
	  	
	  	
	  	

 THIS PAGE IS PART OF AGREEMENT NO. 4 (FOUR) OF CONTRACT NO. 424048860 SIGNED ON 31 DECEMBER 2010, CONSISTING OF 10
(TEN) PAGES. 
 PAGE 10 OF 10

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