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Exhibit 10.24  

 
 

SECOND AMENDMENT
  TO REGISTRATION RIGHTS AGREEMENT    
    

        THIS SECOND AMENDMENT OF REGISTRATION RIGHTS AGREEMENT (this "Amendment") is made and entered into as of
September 27, 2005, by and among GMH COMMUNITIES GP, LLC, a Delaware limited liability company ("GMH
GP"), GMH COMMUNITIES, LP, a Delaware limited partnership (the "Partnership"),  GMH COMMUNITIES
TRUST, a Maryland real estate investment trust (the "Trust"), Gary M. Holloway,
Sr., VORNADO CCA GAINESVILLE, L.L.C., a Delaware limited liability company ("Vornado CCA Gainesville")
and VORNADO REALTY L.P., a Delaware limited partnership ("VRLP"), and the Permitted Transferees of VRLP (such entities or Permitted Transferees are
sometimes referred to herein individually as an "Investor" and collectively as the "Investors"). All capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in
the Original Registration Rights Agreement (as hereinafter defined). 

 
 

W I T N E S S E T H:    
    

        WHEREAS, VRLP received, on July 27, 2004 (as further amended and restated on October 28, 2004), a warrant (the "Warrant") issued by the Company, the
Partnership, entitling VRLP to acquire, among other things, Common Shares of the Company and Common Units, which Common Units may be redeemed for Common Shares pursuant to certain redemption rights
set forth in the Partnership Agreement of the Partnership; 

        WHEREAS,
in connection with the issuance of the Warrant, the Company agreed to provide to the Investor certain registration rights as set forth in a Registration Rights Agreement, dated
July 27, 2004, by and among the parties hereto (the "Original Registration Rights Agreement"), which rights related to the registration of (i) the Common Shares issuable upon exercise of
the Warrant and (ii) Common Shares issued upon redemption of Common Units issuable upon exercise of the Warrant; 

        WHEREAS,
the parties to the Original Registration Rights Agreement, together with Vornado CCA Gainesville, entered into a First Amendment to Registration Rights Agreement, dated as of
November 2, 2004 (the "First Amendment to Registration Rights Agreement"), to expand the registration rights contained therein to include the registration of the Common Shares issuable to
Vornado CCA Gainesville, pursuant to a Contribution Agreement, dated October 14, 2004, by and between Vornado CCA Gainesville and the Partnership, and relating to the contribution of Vornado
CCA Gainesville's ownership of a ninety percent (90%) membership interest in New Towmed, LLC, a Delaware limited liability company, to the Partnership; and 

        WHEREAS,
the parties hereto now desire to further amend the Original Registration Rights Agreement to expand the registration rights contained therein to include the registration of the
Common Shares purchased by VRLP in connection with the Trust's underwritten public offering of Common Shares that will be sold pursuant to an Underwriting Agreement, to be dated September 28,
2005, by and among the Trust, the Partnership, Banc of America Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representatives of the several underwriters to listed on
Schedule I thereto (the "Underwriting Agreement"). 

        NOW,
THEREFORE, in consideration of the mutual covenants and undertakings contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby 

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acknowledged,
and subject to and on the terms and conditions herein set forth, the parties hereto agree, intending to be legally bound, as follows: 

        1.     The
definition of "Eligible Securities" as set forth in Section I.6 of the Original Registration Rights Agreement, as modified by the First Amendment to
Registration Rights Agreement, shall be amended and restated in its entirety by replacing it with the following: 

"I.6.
"Eligible Securities" means all or any portion of (i) (x) the Common Shares acquired or that may be acquired by an Investor upon exercise of the Warrant, dated July 27, 2004,
issued by the Company, the Partnership and GMH GP (including such amendments thereto, the "Warrant") to VRLP, or (y) Common Shares acquired or that may be acquired upon redemption or exchange
of the Common Units issuable upon exercise of the Warrant, whether such Shares or Units are newly issued or acquired directly or indirectly from Gary M. Holloway, (ii) the Common Shares
acquired or that may be acquired by Vornado CCA Gainesville, L.L.C., a Delaware limited liability company ("Vornado CCA Gainesville"), upon redemption or exchange of the Common Units issued pursuant
to a Contribution Agreement, dated October 14, 2004, by and among Vornado CCA Gainesville and the Partnership, and (iii) the Common Shares acquired by VRLP in connection with the Trust's
underwritten public offering of Common Shares that will be sold pursuant to an Underwriting Agreement, to be dated September 28, 2005, by and among the Trust, the Partnership, Banc of America
Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representatives of the several underwriters to listed on Schedule I thereto (the "Underwriting Agreement"). As
to any proposed offer or sale of
Eligible Securities, such securities shall cease to be Eligible Securities with respect to such proposed offer or sale when (i) a registration statement (other than a registration statement
filed pursuant to Article II) with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been disposed of in accordance with
such registration statement or (ii) such securities are permitted to be disposed of pursuant to Rule 144(k) (or any successor provision to such Rule) under the Securities Act as
confirmed in a written opinion of counsel to the Company addressed to the Investors, (iii) such securities shall have been otherwise transferred pursuant to Rule 144 (or any successor
rule) or pursuant to another applicable exemption under the Securities Act, new certificates for such securities not bearing a legend restricting further transfer shall have been delivered by the
Company and such securities shall be freely transferable to the public without registration under the Securities Act or (iv) such securities are no longer outstanding." 

        2.     The
definition of "Permitted Transferees" as set forth in Section I.16 of the Original Registration Rights Agreement, as modified by the First Amendment to
Registration Rights Agreement, shall be amended and restated in its entirety by replacing it with the following: 

"I.16.
"Permitted Transferees" means (i) with respect to the Eligible Securities issuable upon, or in connection with, exercise of the Warrant, any affiliate of VRLP and any Persons to whom
Permitted Transfers may be made under the Partnership Agreement or that are a permitted transferee of Common Shares or Common Units under the warrant issued by the Company as of the date hereof,
(ii) with respect to the Eligible Securities issued in connection with the Contribution Agreement, any Persons to whom Permitted Transfers may be made under the Partnership Agreement or that
are permitted transferees under the Contribution Agreement, and (iii) with respect to the Eligible Securities sold to VRLP in connection with the Underwriting Agreement, any Persons to whom
VRLP is permitted to transfer such securities." 

        3.     Except
as modified by this Amendment, the Original Registration Rights Agreement, as modified by the First Amendment to Registration Rights Agreement, is hereby
reaffirmed in its entirety by the parties hereto and shall continue in full force and effect. 

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        4.     This
Amendment shall be construed and enforced in accordance with the internal laws of the State of New York, without reference to its rules as to conflicts or choice of
laws. 

        5.     This
Amendment, together with the Original Registration Rights Agreement, as modified by the First Amendment to Registration Rights Agreement, constitutes the entire
agreement and understanding among the parties and supersedes any prior understandings and/or written or oral agreements among them respecting the subject matter herein. 

        6.     This
Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same
instrument. 

 
 

(Signatures appear on the following page(s))    
    

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        IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of the day first written above. 

	 	 	GMH COMMUNITIES TRUST
	

 	
 	

By:	

/s/  JOSEPH M. MACCHIONE      
 Name:  Joseph M. Macchione

Title:    SVP, General Counsel and Secretary
	

 	
 	
GMH COMMUNITIES, LP
	

 	
 	

By:	

GMH COMMUNITIES GP TRUST,

its general partner
	

 	
 	

By:	

/s/  BRUCE F. ROBINSON      
 Name:  Bruce F. Robinson

Title:    Back-up Managing Trustee
	

 	
 	
GMH COMMUNITIES GP, LLC
	

 	
 	

By:	

/s/  BRUCE F. ROBINSON      
 Name:  Bruce F. Robinson

Title:    Vice President
	

 	
 	

By:	

/s/  GARY M. HOLLOWAY, SR.      
Gary M. Holloway, Sr.
	

 	
 	
VORNADO REALTY L.P.
	

 	
 	

By:	

VORNADO REALTY TRUST,

its general partner
	

 	
 	

By:	

/s/  JOSEPH MACNOW      
 Name:  Joseph Macnow

Title:    Executive Vice President Finance and Administration
	

 	
 	
VORNADO CCA GAINESVILLE, L.L.C.
	

 	
 	

By:	

VORNADO REALTY L.P.,

its sole member
	

 	
 	

By:	

VORNADO REALTY TRUST,

its general partner
	

 	
 	

By:	

/s/  JOSEPH MACNOW      
 Name:  Joseph Macnow

Title:    Executive Vice President Finance and Administration

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SECOND AMENDMENT TO REGISTRATION RIGHTS AGREEMENT

W I T N E S S E T H

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Exhibit 10.1  

 
 

[FORM OF] INDEMNIFICATION AGREEMENT    
    

        THIS
INDEMNIFICATION AGREEMENT (the "Agreement") is effective as of,
                        200    , by and among Basic Energy
Services, Inc., a Delaware corporation (the "Company"),
and                        (the "Indemnitee"). 

        WHEREAS,
it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify certain of its Authorized Representatives (as defined below) of the Company
to the fullest extent permitted by applicable law so that they will serve or continue to serve as such free from undue concern that they will not be adequately protected; 

        WHEREAS,
the Indemnitee is willing to serve and continue to serve as an Authorized Representative on the condition that he be so indemnified; and 

        WHEREAS,
to the extent permitted by law, this Agreement is a supplement to and in furtherance of the provisions of the certificate of incorporation (the
"Certificate") and bylaws of the Company (the "Bylaws"), in each case as amended and effect on the date
hereof, or resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of the Indemnitee thereunder; 

        NOW
THEREFORE, in consideration of the premises and the covenants contained herein, the Company and the Indemnitee do hereby covenant and agree as follows: 

        1.    Services by the Indemnitee.    The Indemnitee agrees to continue to serve at the request of the Company as an
Authorized Representative. Notwithstanding the foregoing, the Indemnitee may at any time and for any reason resign from any such position. 

        2.    Indemnification—General.    The Company shall indemnify, and advance Expenses (as hereinafter
defined) to, the Indemnitee as provided in this Agreement and to the fullest extent permitted by applicable law in effect on the date hereof and to such greater extent as applicable law may thereafter
from time to time permit. The rights of the Indemnitee provided under the preceding sentence shall include, but shall not be limited to, the rights set forth in the other Sections of this Agreement. 

        3.    Proceedings Other Than Proceedings by or in the Right of the Company.    The Indemnitee shall be entitled to the
rights of indemnification provided in this Section 3 if, by reason of his Corporate Status (as hereinafter defined), he is, or is threatened to
be made, a party to or participant in any threatened, pending or completed Proceeding (as hereinafter defined), other than a Proceeding by or in the right of the Company. Pursuant to this  Section 3,
 the Company shall indemnify the Indemnitee against Expenses, judgments, penalties, fines and amounts paid in settlement (as and to the
extent permitted hereunder) actually and reasonably incurred by him or on his behalf in connection with such Proceeding or any claim, issue or matter therein, if he acted in good faith and in a manner
he reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal Proceeding, if he also had no reasonable cause to believe his conduct was
unlawful. 

        4.    Proceedings by or in the Right of the Company.    The Indemnitee shall be entitled to the rights of
indemnification provided in this Section 4 if, by reason of his Corporate Status, he is, or is threatened to be made, a party to or participant
in any threatened, pending or completed Proceeding brought by or in the right of the Company to procure a judgment in its favor. Pursuant to this  Section 4, the Company shall indemnify the
Indemnitee against Expenses actually and reasonably incurred by him or on his behalf in connection
with such Proceeding if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company. Notwithstanding the foregoing, no indemnification
against such Expenses shall be made in respect of any claim, issue or matter in such Proceeding as to which the Indemnitee shall have been adjudged to be liable to the Company or if applicable law
prohibits such indemnification; provided, however, that if 

 

applicable
law so permits, indemnification against Expenses shall nevertheless be made by the Company in such event if and to the extent that the court in which such Proceeding shall have been brought
or is pending, shall so determine. 

        5.    Indemnification for Expenses of a Party Who is Wholly or Partly Successful.    

        (a)   To
the extent that the Indemnitee is, by reason of his Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, the Company shall
indemnify the Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. If the Indemnitee is not wholly successful in defense of any Proceeding
but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify the Indemnitee against all Expenses
actually and reasonably incurred by him or on his behalf in connection with each such claim, issue or matter as to which the Indemnitee is successful, on the merits or otherwise. For purposes of this  Section 5(a)
, the term "successful, on the merits or otherwise," shall include, but shall not be limited to, (i) the termination of any
claim, issue or matter in a Proceeding by withdrawal or dismissal, with or without prejudice, (ii) termination of any claim, issue or matter in a Proceeding by any other means without any
express finding of liability or guilt against the Indemnitee, with or without prejudice, (iii) the expiration of 120 days after the making of a claim or threat of a Proceeding without
the institution of the same and without any promise or payment made to induce a settlement or (iv) the settlement of any claim, issue or matter in a Proceeding pursuant to which the Indemnitee
pays less than $100,000. The provisions of this Section 5(a) are subject to Section 5(b)
below. 

        (b)   In
no event shall the Indemnitee be entitled to indemnification under Section 5(a) above with respect to a claim,
issue or matter to the extent (i) applicable law prohibits such indemnification, or (ii) an admission is made by the Indemnitee in writing to the Company or in such Proceeding or a
final, nonappealable determination is made in such Proceeding that the standard of conduct required for indemnification under this Agreement has not been met with respect to such claim, issue or
matter. 

        6.    Indemnification for Expenses as a Witness.    Notwithstanding any provisions herein to the contrary, to the
extent that the Indemnitee is, by reason of his Corporate Status, a witness in any Proceeding, the Company shall indemnify the Indemnitee against all Expenses actually and reasonably incurred by or on
behalf of the Indemnitee in connection therewith. 

        7.    Advancement of Expenses.    The Company shall advance all reasonable Expenses incurred by or on behalf of the
Indemnitee in connection with any Proceeding within 10 days after the receipt by the Company of a statement or statements from the Indemnitee requesting such advance or advances from time to
time, whether prior to or after the final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by or on behalf of the Indemnitee. The Indemnitee
hereby expressly undertakes to repay such amounts advanced only if, and to the extent that, it shall ultimately be determined by a final, non-appealable adjudication or arbitration
decision that the Indemnitee is not entitled to be indemnified against such Expenses. All amounts advanced to the Indemnitee by the Company pursuant to this  Section 7 shall be without interest. The
Company shall make all advances pursuant to this  Section 7 without regard to the financial ability of the Indemnitee to make repayment, without bond or other security and without regard to the
prospect of whether the Indemnitee may ultimately be found to be entitled to indemnification under the provisions of this Agreement. Any required reimbursement of Expenses by the Indemnitee shall be
made by the Indemnitee to the Company within 10 days following the entry of the final, non-appealable adjudication or arbitration decision pursuant to which it is determined that
the Indemnitee is not entitled to be indemnified against such Expenses. 

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        8.    Procedure for Determination of Entitlement to Indemnification.    

        (a)   To
obtain indemnification under this Agreement, the Indemnitee shall submit to the Company a written request therefor, along with such documentation and information as
is reasonably available to the Indemnitee and reasonably necessary to determine whether and to what extent the Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly
upon receipt of such a request for indemnification, advise the Board in writing that the Indemnitee has requested indemnification. 

        (b)   Upon
written request by the Indemnitee for indemnification pursuant to the first sentence of Section 8(a) hereof,
a determination, if required by applicable law, with respect to the Indemnitee's entitlement thereto shall be made in the specific case: (i) by the Board by a majority vote of a quorum
consisting of Disinterested Directors (as hereinafter defined); or (ii) if a quorum of the Board consisting of Disinterested Directors is not obtainable or, even if obtainable, such quorum of
Disinterested Directors so directs, by Independent Counsel (as hereinafter defined), as selected pursuant to Section 8(d), in a written opinion
to the Board (which opinion may be a "more likely than not" opinion), a copy of which shall be delivered to the Indemnitee. If it is so determined that the Indemnitee is entitled to indemnification,
the Company shall make payment to the Indemnitee within 10 days after such determination. The Indemnitee shall cooperate with the Person or Persons making such determination with respect to the
Indemnitee's entitlement to indemnification, including providing to such Person or Persons upon reasonable advance request any documentation or information which is not privileged or otherwise
protected from disclosure and which is reasonably available to the Indemnitee and reasonably necessary to such determination. Subject to the provisions of  Section 10 hereof, any costs or expenses
(including reasonable attorneys' fees and disbursements) incurred by the Indemnitee in so cooperating
with the Person or Persons making such determination shall be borne by the Company, and the Company hereby agrees to indemnify and hold the Indemnitee harmless therefrom. 

        (c)   Notwithstanding
the foregoing, if a Change of Control has occurred, the Indemnitee may require a determination with respect to the Indemnitee's entitlement to
indemnification to be made by Independent Counsel, as selected pursuant to Section 8(d), in a written opinion to the Board (which opinion may be
a "more likely than not" opinion), a copy of which shall be delivered to the Indemnitee. 

        (d)   In
the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to  Section 8(b) or (c) hereof, the
Independent Counsel shall be selected as provided in this  Section 8(d). If a Change of Control shall not have occurred, the Independent Counsel shall be selected by the Board (including a vote of a
majority of the Disinterested Directors if obtainable), and the Company shall give written notice to the Indemnitee advising him of the identity of the Independent Counsel so selected. If a Change of
Control shall have occurred, the Independent Counsel shall be selected by the Indemnitee (unless the Indemnitee shall request that such selection be made by the Board, in which event the preceding
sentence shall apply), and approved by the Company (which approval shall not be unreasonably withheld). If (i) an Independent Counsel is to make the determination of entitlement pursuant to  Section 8(b)
 or (c) hereof, and (ii) within 20 days after submission by the
Indemnitee of a written request for indemnification pursuant to Section 8(a) hereof, no Independent Counsel shall have been selected, either the
Company or the Indemnitee may petition the appropriate court of the State (as hereafter defined) or other court of competent jurisdiction for the appointment as Independent Counsel of a Person
selected by such court or by such other Person as such court shall designate. The Company shall pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel
in connection with acting pursuant to Section 8(b) or (c) hereof, and the Company shall pay all
reasonable fees and expenses incident to the procedures of this Section 8(d), regardless of the manner in which such Independent Counsel was
selected or appointed. Upon the due commencement of any judicial proceeding or arbitration pursuant 

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to
Section 10(a)(iv) of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity
(subject to the applicable standards of professional conduct then prevailing). 

        9.    Presumptions and Effect of Certain Proceedings; Construction of Certain Phrases.    

        (a)   In
making a determination with respect to whether the Indemnitee is entitled to indemnification hereunder, the Reviewing Party making such determination shall presume
that the Indemnitee is entitled to indemnification under this Agreement if the Indemnitee has submitted a request for indemnification in accordance with  Section 8(a) of this Agreement, and anyone
seeking to overcome this presumption shall have the burden of proof and the burden of persuasion, by
clear and convincing evidence. 

        (b)   Subject
to the terms of Section 16 below, the termination of any Proceeding or of any claim, issue or matter
therein, by judgment, order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly
provided in this Agreement) of itself adversely affect the right of the Indemnitee to indemnification or create a presumption that the Indemnitee did not act in good faith and in a manner which he
reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that the Indemnitee had reasonable cause to believe that his conduct was
unlawful. 

        (c)   For
purposes of any determination of the Indemnitee's entitlement to indemnification under this Agreement or otherwise, the Indemnitee shall be deemed to have acted in
good faith and in a manner he reasonably believe to be in or not opposed to the best interests of the Company, and, with respect to a criminal Proceeding, to have also had no reasonable cause to
believe his conduct was unlawful, if the Indemnitee's action is based on the records or books of account of the Company or another enterprise, including financial statements, or on information
supplied to the Indemnitee by the officers of the Company or another enterprise in the course of their duties, or on the advice of legal or financial counsel for the Company or the Board (or any
committee thereof) or for another enterprise or its board of directors (or any committee thereof), or on information or records given or reports made by an independent certified public accountant or
by an appraiser or other expert selected by the Company or the Board (or any committee thereof) or by another enterprise or its board of directors (or any committee thereof). For purposes of this  Section 9(c)
, the term "another enterprise" means any other corporation, partnership, limited liability company, joint venture, trust, employee
benefit plan or other enterprise of which the Indemnitee is or was serving at the request of the Company as a director, officer, employee or agent. The provisions of this  Section 9(c) shall not be
deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed or found to
have met the applicable standard of conduct set forth in this Agreement. In addition, the knowledge and/or actions, or failure to act, of any other director, trustee, partner, managing member,
fiduciary, officer, agent or employee of the Company shall not be imputed to the Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether or not the foregoing
provisions of this Section 9(c) are satisfied, it shall in any event be presumed that the Indemnitee has acted in good faith and in a manner he
reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to a criminal Proceeding, that he also had no reasonable cause to believe his conduct was unlawful.
Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion, by clear and convincing evidence. 

        (d)   For
purposes of this Agreement, references to "fines" shall include any excise taxes assessed on the Indemnitee with respect to an employee benefit plan; references to
"serving at the request of the Company" shall include, but shall not be limited to, any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services
by, the Indemnitee with respect to an employee benefit plan, its participants or its beneficiaries; and if the Indemnitee has acted in good faith and in a manner he reasonably believed to be in the
interest of the participants and beneficiaries 

4

 

of
an employee benefit plan, he shall be deemed to have acted in a manner "not opposed to the best interests of the Company" as used in this Agreement. The provisions of this  Section 9(d) shall not be
deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may be deemed or found to
have met the applicable standard of conduct set forth in this Agreement. 

        10.    Remedies of the Indemnitee.    

        (a)   In
the event that (i) a determination is made pursuant to Section 8 of this Agreement that the Indemnitee
is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 7 of this
Agreement, (iii) the determination of entitlement to indemnification is to be made by the Board pursuant to Section 8(b) of this Agreement
and such determination shall not have been made and delivered to the Indemnitee in writing within twenty (20) days after receipt by the Company of the request for indemnification,
(iv) the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 8(b) or  (c) of this Agreement
and such determination shall not have been made in a written opinion to the Board and a copy delivered to the Indemnitee within
forty-five (45) days after receipt by the Company of the request for indemnification, (v) payment of indemnification is not made pursuant to  Section 6 of this Agreement within
10 days after receipt by the Company of a written request therefor or (vi) payment of
indemnification is not made within 10 days after a determination has been made that the Indemnitee is entitled to indemnification or such determination is deemed to have been made pursuant to  Section 8 or 9 of this Agreement, the Indemnitee shall be entitled to an adjudication in an
appropriate court of the State of his entitlement to such indemnification or advancement of Expenses. Alternatively, the Indemnitee, at his sole option, may seek an award in arbitration to be
conducted by a single arbitrator pursuant to the rules of the American Arbitration Association. The Indemnitee shall commence such Proceeding seeking an adjudication or an award in arbitration within
180 days following the date on which the Indemnitee first has the right to commence such Proceeding pursuant to this Section 10(a);  provided,
however, that the foregoing clause shall not apply in respect of a Proceeding brought by the
Indemnitee to enforce his rights under Section 5 of this Agreement. 

        (b)   In
the event that a determination is made pursuant to Section 8 of this Agreement that the Indemnitee is not
entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 10 shall be conducted in all respects as a  de novo trial or a de novo arbitration (as applicable) on the merits, and the Indemnitee shall not be
prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 10, the Company
shall have the burden of proving that the Indemnitee is not entitled to indemnification, and the Company shall be precluded from referring to or offering into evidence a determination made pursuant to  Section 8 of this Agreement that is adverse to the Indemnitee's right to indemnification. If the Indemnitee commences a judicial proceeding or
arbitration pursuant to this Section 10, the Indemnitee shall not be required to reimburse the Company for any advances pursuant to  Section 7
until a final determination is made with respect to the Indemnitee's entitlement to indemnification (as to which rights of appeal have
been exhausted or lapsed). 

        (c)   If
a determination is made or deemed to have been made pursuant to Section 8 or  9 of this Agreement that the Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding or
arbitration commenced pursuant to this Section 10, absent (i) a misstatement by the Indemnitee of a material fact, or an omission by the
Indemnitee of a material fact necessary to make the Indemnitee's statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such
indemnification under applicable law. 

        (d)   The
Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this  Section 10 that the procedures and presumptions of this Agreement are not valid,
binding and enforceable and shall stipulate in any such court or
before any such arbitrator that the Company is bound by all of the provisions of this Agreement. 

5

 

        (e)   In
the event that the Indemnitee, pursuant to this Section 10, seeks a judicial adjudication or an award in
arbitration to enforce his rights under, or to recover damages for breach of, this Agreement, the Indemnitee shall be entitled to recover from the Company, and shall be indemnified by the Company
against, any and all Expenses actually and reasonably incurred by him in such judicial adjudication or arbitration, unless the court or arbitrator determines that each of the Indemnitee's claims in
such Proceeding were made in bad faith or were frivolous. In the event that a Proceeding is commenced by or in the right of the Company against the Indemnitee to enforce or interpret any of the terms
of this Agreement, the Indemnitee shall be entitled to recover from the Company, and shall be indemnified by the Company against, any and all Expenses actually and reasonably incurred by him in such
Proceeding (including with respect to any counter-claims or cross-claims made by the Indemnitee against the Company in such Proceeding), unless the court or arbitrator determines that each of the
Indemnitee's material defenses in such Proceeding were made in bad faith or were frivolous. 

        (f)    Any
judicial adjudication or arbitration determined under this Section 10 shall be final and binding on the
parties. 

        11.    Defense of Certain Proceedings.    In the event the Company shall be obligated under this Agreement to pay the
Expenses of any Proceeding against the Indemnitee in which the Company is a co-defendant with the Indemnitee, the Company shall be entitled to assume the defense of such Proceeding, with
counsel approved by the Indemnitee, which approval shall not be unreasonably withheld, upon the delivery to the Indemnitee of written notice of its election to do so. After delivery of such notice,
approval of such counsel by the Indemnitee and the retention of such counsel by the Company, the Indemnitee shall nevertheless be entitled to employ or continue to employ his own counsel in such
Proceeding. Employment of such counsel by the Indemnitee shall be at the cost and expense of the Company unless and until the Company shall have demonstrated to the reasonable satisfaction of the
Indemnitee and the Indemnitee's counsel that there is complete identity of issues and defenses and no conflict of interest between the Company and the Indemnitee in such Proceeding, after which time
further employment of such counsel by the Indemnitee shall be at the cost and expense of the Indemnitee. In all events, if the Company shall not, in fact, have timely employed counsel to assume the
defense of such Proceeding, then the fees and Expenses of the Indemnitee's counsel shall be at the cost and expense of the Company. 

        12.    Exception to Right of Indemnification or Advancement of Expenses.    Notwithstanding any other provision of
this Agreement, the Indemnitee shall not be entitled to indemnification or advancement of
Expenses under this Agreement with respect to any Proceeding, or any claim therein, brought or made by the Indemnitee against: 

        (a)   the
Company, except for (i) any claim or Proceeding in respect of this Agreement and/or the Indemnitee's rights hereunder, (ii) any claim or Proceeding to
establish or enforce a right to indemnification under any statute or law and (iii) any counter-claim or cross-claim brought or made by him against the Company in any Proceeding brought by or in
the right of the Company against him; or 

        (b)   any
other Person, except for Proceedings or claims approved by the Board. 

        13.    Contribution.    

        (a)   If,
with respect to any Proceeding, the indemnification provided for in this Agreement is held by a court of competent jurisdiction to be unavailable to the Indemnitee
for any reason other than that the Indemnitee did not act in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company or, with respect to a
criminal Proceeding, that the Indemnitee had reasonable cause to believe his conduct was unlawful, the Company shall contribute to the amount of Expenses, judgments, penalties, fines and amounts paid
in settlement actually and reasonably incurred by the Indemnitee or on his behalf in connection with such Proceeding or any 

6

 

claim,
issue or matter therein in such proportion as is appropriate to reflect the relative benefits received by the Indemnitee and the relative fault of the Indemnitee versus the other defendants or
participants in connection with the action or inaction which resulted in such Expenses, judgments, penalties, fines and amounts paid in settlement, as well as any other relevant equitable
considerations. 

        (b)   The
Company and the Indemnitee agree that it would not be just and equitable if contribution pursuant to this  Section 13 were determined by pro rata or per capita allocation or by any other method of
allocation which does not take into account the
equitable considerations referred to in Section 13(a) above. 

        (c)   No
Person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act of 1933) shall be entitled to contribution from
any Person who was not found guilty of such fraudulent misrepresentation. 

        14.    Officer and Director Liability Insurance.    

        (a)   The
Company shall use all commercially reasonable efforts to obtain and maintain in effect during the entire period for which the Company is obligated to indemnify the
Indemnitee under this Agreement, one or more policies of insurance with reputable insurance companies to provide the directors and officers of the Company with coverage for losses from wrongful acts
and omissions and to ensure the Company's performance of its indemnification obligations under this Agreement. In all such insurance policies, the Indemnitee shall be named as an insured in such a
manner as to provide the Indemnitee with the same rights and benefits as are accorded to the most favorably insured of the Company's directors and officers. Notwithstanding the foregoing, the Company
shall have no obligation to obtain or maintain such insurance if the Company determines in good faith that the Indemnitee is covered by such insurance maintained by a subsidiary or parent of the
Company. 

        (b)   To
the extent that the Company maintains an insurance policy or policies providing liability insurance for directors or officers of any other corporation, partnership,
limited liability company, joint venture, trust, employee benefit plan or other enterprise which the Indemnitee serves at the request of the Company, the Indemnitee shall be named as an insured under
and shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for the most favorably insured director or officer under such
policy or policies. 

        (c)   In
the event that the Company is a named insured under any policy or policies of insurance referenced in either  Section 14(a) or (b) above, the Company
hereby covenants and agrees that it will not settle any
claims or Proceedings that may be covered by such policy or policies of insurance and in which the Indemnitee has or may incur Expenses, judgments, penalties, fines or amounts paid in settlement
without the prior written consent of the Indemnitee. 

        15.    Security.    Upon reasonable request by the Indemnitee, the Company shall provide security to the Indemnitee
for the Company's obligations hereunder through an irrevocable bank letter of credit, funded trust or other similar collateral. Any such security, once provided to the Indemnitee, may not be revoked
or released without the prior written consent of the Indemnitee, which consent may be granted or withheld at the Indemnitee's sole and absolute discretion. 

        16.    Settlement of Claims.    The Company shall not be liable to indemnify the Indemnitee under this Agreement for
any amounts paid in settlement of any Proceeding effected without the Company's written consent, which consent shall not be unreasonably withheld. 

        17.    Duration of Agreement.    This Agreement shall be unaffected by the termination of the Corporate Status of the
Indemnitee and shall continue for so long as the Indemnitee may have any liability or potential liability by virtue of his Corporate Status, including, without limitation, the final termination of all
pending Proceedings in respect of which the Indemnitee is granted rights of indemnification or advancement of Expenses hereunder and of any Proceeding commenced by the 

7

 

Indemnitee
pursuant to Section 10 of this Agreement relating thereto, whether or not he is acting or serving in such capacity at the time any
liability or Expense is incurred for which indemnification can be provided under this Agreement. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties
hereto and their respective successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the
Company), assigns, spouses, heirs, executors and personal and legal representatives. 

        18.    Remedies of the Company.    The Company hereby covenants and agrees to submit any and all disputes relating to
this Agreement that the parties are unable to resolve between themselves to binding arbitration pursuant to the rules of the American Arbitration Association and waives all rights to judicial
adjudication of any matter or dispute relating to this Agreement except where judicial adjudication is requested or required by the Indemnitee. 

        19.    Covenant Not to Sue, Limitation of Actions and Release of Claims.    No legal action shall be brought and no
cause of action shall be asserted by or on behalf of the Company (or any of its subsidiaries) against the Indemnitee, his spouse, heirs, executors, personal representatives or administrators after the
expiration of two (2) years from the date on which the Corporate Status of the Indemnitee is terminated (for any reason), and any claim or cause of action of the Company (or any of its
subsidiaries) shall be extinguished and deemed released unless asserted by filing of a legal action within such two-year period; provided,  however, that
the foregoing shall not apply to any action or cause of action brought or asserted by the Company pursuant to or in respect of this
Agreement and shall not constitute a waiver or release of any of the Company's rights under this Agreement. 

        20.    Limitation of Liability.    Notwithstanding any other provision of this Agreement, neither party shall have any
liability to the other for, and neither party shall be entitled to recover from the other, any consequential, special, punitive, multiple or exemplary damages as a result of a breach of this
Agreement. 

        21.    Subrogation.    In the event of any payment under this Agreement, the Company shall be subrogated to the extent
of such payment to all of the rights of recovery of the Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as
are necessary to enable the Company to bring suit to enforce such rights. 

        22.    No Multiple Recovery.    The Company shall not be liable under this Agreement to make any payment of amounts
otherwise indemnifiable hereunder if and to the extent that the Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise. 

        23.    Definitions.    For purposes of this Agreement: 

        (a)   "Affiliate" means, with respect to any Person, any other Person directly or indirectly controlling, controlled by or
under common control with such Person. For purposes hereof, "control" (including, with correlative meaning, the terms "controlling", "controlled by" and "under common control with") means the
possession, directly or indirectly, of the power to direct or cause the direction of management and policies of such Person, by contract or otherwise. 

        (b)   "Authorized Representative" means (i) a director, officer, employee, agent or fiduciary of the Company or any
Subsidiary and (ii) a person serving at the request of the Company or any Subsidiary as a director, officer, employee, fiduciary or other representative of another corporation, partnership,
limited liability company, joint venture, trust, employee benefit plan or other enterprise. 

        (c)   "Board" means the Board of Directors of the Company. 

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        (d)   "Change of Control" shall mean a change in control of the Company occurring after the date of this Agreement of a nature
that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under
the Exchange Act, whether or not the Company is then subject to such reporting requirement. Without limiting the foregoing, such a Change in Control shall be deemed to have occurred if, after the date
of this Agreement, (i) any "person" (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) other than a Permitted Holder is or becomes the "beneficial owner" (as defined in
Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of securities of the Company representing 20% or more of the combined voting power of the Company's then
outstanding securities entitled to vote generally in the election of directors without the prior approval of at least two-thirds of the members of the Board in office immediately prior to
such person attaining such percentage interest; (ii) the Company is a party to a merger, consolidation, sale of assets or other reorganization, or a proxy contest, as a consequence of which
members of the Board in office immediately prior to such transaction or event constitute less than a majority of the Board thereafter; (iii) during any period of two consecutive years,
individuals who at the beginning of such period constituted the Board (including for this purpose any new director whose election or nomination for election by the Company's shareholders was approved
by a vote of at least two-thirds of the directors then still in office who were directors at the beginning of such period) cease for any reason to constitute at least a majority of the
Board; or (iv) approval by the shareholders of the Company of a liquidation or dissolution of the Company. 

        (e)   "Company" means Basic Energy Services, Inc., a Delaware corporation. 

        (f)    "Corporate Status" describes the status of an individual who is or was an officer, director, employee or agent of the
Company or any of the Company's Affiliates, or is or was serving at the request of the Company or any of its Affiliates as an officer, director, employee, agent or trustee of another corporation,
partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise. 

        (g)   "Disinterested Director" means a director of the Company who is not and was not a party to, or otherwise involved in, the
Proceeding for which indemnification is sought by the Indemnitee. 

        (h)   "Exchange Act" means the Securities Exchange Act of 1934, as amended. 

        (i)    "Expenses" shall include all reasonable attorneys' fees, retainers, court costs, transcript costs, fees of experts,
witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all other disbursements or expenses of the types customarily
incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating or being or preparing to be a witness in a Proceeding. 

        (j)    "Independent Counsel" means a law firm or a member of a law firm that is experienced in matters of corporation law and
neither presently is, nor in the past five (5) years has been, retained to represent: (i) the Company or the Indemnitee in any matter material to either such party or (ii) any
other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term "Independent Counsel" shall not include any Person who, under the applicable
standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or the Indemnitee in an action to determine the Indemnitee's rights under this
Agreement 

        (k)   "Permitted Holder" means Credit Suisse First Boston, Inc., its Affiliates, and DLJ Merchant Banking Partners III,
L.P. and any other partnerships, funds or other entities either controlled by Credit Suisse First Boston, Inc. or its Affiliates or for which such Persons have voting or investment control over
shares of the Company's securities without other control. 

9

 

        (l)    "Person" means a natural person, firm, partnership, joint venture, association, corporation, company, limited liability
company, trust, business trust, estate or other entity. 

        (m)  "Proceeding" includes any action, suit, arbitration, alternate dispute resolution mechanism, investigation,
administrative hearing or any other proceeding whether civil, criminal, administrative or investigative. 

        (n)   "State" means the State of Texas. 

        24.    Non-Exclusivity.    The Indemnitee's rights of indemnification and to receive advancement of
Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which the Indemnitee may at any time be entitled under applicable law, the Certificate, the Bylaws, any
agreement, a vote of stockholders, a resolution of directors or otherwise. 

        25.    Remedies Not Exclusive.    No right or remedy herein conferred upon the Indemnitee is intended to be exclusive
of any other right or remedy, and every other right or remedy shall be cumulative of and in
addition to the rights and remedies given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy of the Indemnitee hereunder or
otherwise shall not be deemed an election of remedies on the part of the Indemnitee and shall not prevent the concurrent assertion or employment of any other right or remedy by the Indemnitee. 

        26.    Changes in Law.    In the event that a change in applicable law after the date of this Agreement, whether by
statute, rule or judicial decision, expands or otherwise increases the right or ability of a Delaware corporation to indemnify a member of its board of directors or an officer, the Indemnitee shall,
by this Agreement, enjoy the greater benefits so afforded by such change. In the event that a change in applicable law after the date of this Agreement, whether by statute, rule or judicial decision,
narrows or otherwise reduces the right or ability of a Delaware corporation to indemnify a member of its board of directors or an officer, such change shall have no effect on this Agreement or any of
the Indemnitee's rights hereunder, except and only to the extent required by law. 

        27.    Interpretation of Agreement.    The Company and the Indemnitee acknowledge and agree that it is their intention
that this Agreement be interpreted and enforced so as to provide indemnification to the Indemnitee to the fullest extent now or hereafter permitted by law. 

        28.    Severability.    If any provision or provisions of this Agreement shall be held to be invalid, illegal or
unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this agreement (including, without limitation, each portion of any Section
of this Agreement containing any such provision held to be invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; (b) such provision or provisions will be
deemed reformed to the extent necessary to conform to applicable law and to give maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of
this Agreement (including, without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid,
illegal or unenforceable) shall be construed so as to give effect to the intent manifested by the provision or provisions held invalid, illegal or unenforceable. 

        29.    Governing Law; Jurisdiction and Venue; Specific Performance.    

        (a)   The parties agree that this Agreement shall be governed by, and construed and enforced in accordance with, the internal laws of the State of
Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any
jurisdiction other than the State of Delaware.

        (b)   ANY "ACTION OR PROCEEDING" (AS SUCH TERM IS DEFINED BELOW) ARISING OUT OF OR RELATING TO THIS AGREEMENT SHALL BE FILED IN AND LITIGATED OR  

10

 

 ARBITRATED SOLELY BEFORE THE COURTS LOCATED IN OR ARBITRATORS SITTING IN HARRIS COUNTY IN THE STATE OF TEXAS, AND EACH PARTY TO THIS AGREEMENT: (i) GENERALLY AND UNCONDITIONALLY ACCEPTS THE
EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS AND ARBITRATORS AND VENUE THEREIN, AND WAIVES TO THE FULLEST EXTENT PROVIDED BY LAW ANY DEFENSE OR OBJECTION TO SUCH JURISDICTION AND VENUE BASED UPON
THE DOCTRINE OF "FORUM NON CONVENIENS;" AND (ii) GENERALLY AND UNCONDITIONALLY CONSENTS TO SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING BY DELIVERY OF CERTIFIED OR REGISTERED MAILING OF
THE SUMMONS AND COMPLAINT IN ACCORDANCE WITH THE NOTICE PROVISIONS OF THIS AGREEMENT. FOR PURPOSES OF THIS SECTION, THE TERM "ACTION OR PROCEEDING" IS
DEFINED AS ANY AND ALL CLAIMS, SUITS, ACTIONS, HEARINGS, ARBITRATIONS OR OTHER SIMILAR PROCEEDINGS, INCLUDING APPEALS AND PETITIONS THEREFROM, WHETHER FORMAL OR INFORMAL, GOVERNMENTAL OR
NON-GOVERNMENTAL, OR CIVIL OR CRIMINAL. THE FOREGOING CONSENT TO JURISDICTION SHALL NOT CONSTITUTE GENERAL CONSENT TO SERVICE OF PROCESS IN THE STATE FOR ANY PURPOSE EXCEPT AS PROVIDED
ABOVE, AND SHALL NOT BE DEEMED TO CONFER RIGHTS ON ANY PERSON OTHER THAN THE PARTIES TO THIS AGREEMENT.

        (c)   The
Company acknowledges that the Indemnitee may, as a result of the Company's breach of its covenants and obligations under this Agreement, sustain immediate and
long-term substantial and irreparable injury and damage which cannot be reasonably or adequately compensated by damages at law. Consequently, the Company agrees that the Indemnitee shall
be entitled, in the event of the Company's breach or threatened breach of its covenants and obligations hereunder, to obtain equitable relief from a court of competent jurisdiction, including
enforcement of each provision of this Agreement by specific performance and/or temporary, preliminary and/or permanent injunctions enforcing any of the Indemnitee's rights, requiring performance by
the Company, or enjoining any breach by the Company, all without proof of any actual damages that have been or may be caused to the Indemnitee by such breach or threatened breach and without the
posting of bond or other security in connection therewith. The Company waives the claim or defense therein that the Indemnitee has an adequate remedy at law, and the Company shall not allege or
otherwise assert the legal position that any such remedy at law exists. The Company agrees and acknowledges that: (i) the terms of this  Section 29(c) are fair, reasonable and necessary to
protect the legitimate interests of the Indemnitee; (ii) this waiver is a material
inducement to the Indemnitee to enter into the transactions contemplated hereby; and (iii) the Indemnitee relied upon this waiver in entering into this Agreement and will continue to rely on
this waiver in its future dealings with the Company. The Company represents and warrants that it has reviewed this provision with its legal counsel, and that it has knowingly and voluntarily waived
its rights referenced in this Section 29 following consultation with such legal counsel. 

        30.    Nondisclosure of Payments.    Except as expressly required by Federal securities laws, the Company shall not
disclose any payments under this Agreement without the prior written consent of the Indemnitee. Any payments to the Indemnitee that must be disclosed shall, unless otherwise required by law, be
described only in the Company proxy or information statements relating to special and/or annual
meetings of the Company's shareholders, and the Company shall afford the Indemnitee a reasonable opportunity to review all such disclosures and, if requested by the Indemnitee, to explain in such
statement any mitigating circumstances regarding the events reported. 

        31.    Notice by the Indemnitee.    The Indemnitee agrees to promptly notify the Company in writing upon being served
with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses
covered hereunder. 

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        32.    Notices.    All notices, requests, demands and other communications hereunder shall be in writing and shall be
deemed to have been duly given if (a) delivered by hand and received for by the party to whom said notice or other communication shall have been directed, or (b) mailed by U.S. certified
or registered mail with postage prepaid, on the third business day after the date on which it is so mailed: (i) If to the Company: Basic Energy Services, Inc., 400 W. Illinois, Suite
800, Midland, Texas 79701, Attention: President; and (ii) if to any other party hereto, including the Indemnitee, to the address of such party set forth on the signature page hereof; or to such
other address as may have been furnished by any party to the other(s), in accordance with this Section 32. 

        33.    Modification and Waiver.    No supplement, modification or amendment of this Agreement or any provision hereof
shall limit or restrict in any way any right of the Indemnitee under this Agreement with respect to any action taken or omitted by the Indemnitee in his Corporate Status prior to such supplement,
modification or amendment. No supplement, modification or amendment of this Agreement or any provision hereof shall be binding unless executed in writing by both of the Company and the Indemnitee. No
waiver of any provision of this Agreement shall be deemed or shall constitute a wavier of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 

        34.    Headings.    The headings of the Sections or paragraphs of this Agreement are inserted for convenience only and
shall not be deemed to constitute part of this Agreement or to affect the construction thereof. 

        35.    Gender.    Use of the masculine pronoun in this Agreement shall be deemed to include usage of the feminine
pronoun where appropriate. 

        36.    Identical Counterparts.    This Agreement may be executed in one or more counterparts (whether by original,
photocopy or facsimile signature), each of which shall for all purposes be deemed to be an original, but all of which together shall constitute one and the same Agreement. Only one such
counterpart executed by the party against whom enforcement is sought must be produced to evidence the existence of this Agreement. 

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        IN
WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the day and year first above written. 

	ATTEST:	 	BASIC ENERGY SERVICES, INC.
	

By:	

 	
 	

By:	

 
	 	
	 	 	

	Name:	 	 	Name:	 
	 	
	 	 	

	Title:	 	 	Title:	 
	 	
	 	 	

	

 	

 	
 	
INDEMNITEE
	          	 	 	 	 
	

 	

 	
 	

 [NAME]
	

 	

 	
 	

400 W. Illinois, Suite 800

Midland, Texas 79701

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QuickLinks

[FORM OF] INDEMNIFICATION AGREEMENT

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