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Exhibit 10.2
AMENDMENT TO SEPARATION AND RELEASE AGREEMENT 
 
 This Amendment to Separation and Release Agreement (the “Amendment”) is made and entered into by and between Basic Energy Services, Inc., a Delaware corporation (the “Company”), and Thomas Monroe Patterson (the “Individual”), effective as of October 25, 2019 (the “Amendment Effective Date”). 
 
WITNESSETH: 
 
WHEREAS, the Company and the Individual previously entered into that certain Separation and Release Agreement dated as of September 13, 2019 (the “Separation Agreement”); 
 
WHEREAS, the Separation Agreement allows the parties to amend the Separation Agreement by written instrument executed by both parties; and 
 
WHEREAS, the Company and the Individual desire to amend the Separation Agreement in accordance with this Amendment to clarify the Individual’s forfeiture of unvested equity awards and to accelerate the Individual’s forfeiture of vested stock options; 
 
NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the parties hereto agree as follows: 

1. The introductory paragraph and immediately following chart to Section 4 of the Separation Agreement are hereby amended and restated in their entirety to read as follows: 

									
	Form of Compensation	Amount	Payment Date
	Base Salary	Before the Step-Down Date, $27,730.77 per pay period payable and, following the Step-Down Date, the amount of the prorated Base Salary provided for above per pay period payable through the Separation Date.	On the pay periods during the Transition Period, and then final payment on or within six days after the Separation Date.
	Accrued Unused Paid Time Off (PTO)	$55,459.65 (estimated) payable through Separation Date.	On or within six days after the Separation Date.
	2019 Performance Bonus	$240,000.00 payable for 2019 performance as of September 1, 2019.  However, the Company shall recalculate the bonus on the earlier of (1) December 31, 2019 and (2) the Separation Date.	On or within six days after the Separation Date if the Separation Date is after December 31, 2019, but within 10 days following the six-month anniversary of the Separation Date if the Separation Date is before January 1, 2020.
	Deferred Compensation	$567,886.98 (estimated) payable through Separation Date.	According to the Individual’s distribution election but not sooner than six months following the Separation Date.
	Reimbursement of Attorneys’ Fees	Up to $20,000.00 for reasonable attorneys’ fees incurred in reviewing this Agreement.	Within 30 days after submission of appropriate substantiating documentation.

 
2. Section 4.e. of the Separation Agreement is hereby amended and restated in its entirety to read as follows: 

e. Reimbursement of Attorneys’ Fees. To assist the Individual in his review of this Agreement, the Company shall, within 30 days after submission of appropriate substantiating documentation (which shall be submitted within 30 days following the Separation Date), reimburse him for reasonable attorneys’ fees up to $26,000.00 incurred by him in consultations related to this Agreement. 
 

3. Section 4.f. of the Separation Agreement is hereby amended and restated in its entirety to read as follows: 
 
f. Equity Awards.  The Individual acknowledges receiving the following equity incentive awards from the Company (the “Equity Awards”), which remain outstanding immediately prior to the Effective Date, subject to the terms and conditions of the corresponding award agreements described below (together, the “Award Agreements”): 

												
	Equity Award	Shares Subject to Award	Vested/Unvested Shares 	Award Agreement
	Timed-Based Stock Options (“TBSOs”)
	100,368 	 	100,368/0	Time-Based Stock Option Award Agreement effective as of December 23, 2016 (the “2016 TBSO Award Agreement”)

	Performance-Based Stock Options (“PBSOs”)
	100,368 	 	66,845/33,523	Performance-Based Stock Option Award Agreement effective as of February 22, 2017 (the “2017 PBSO Award Agreement”)

	Performance-Based Restricted Stock Units

	250,920 	 	167,280/83,640

	Performance-Based Restricted Stock Unit Award Agreement effective as of February 22, 2017 (the “2017 PBRSU Award Agreement”)

	Performance-Based Restricted Stock Units (collectively “PBRSUs”)
	44,615 	 	0/44,615	Performance-Based Restricted Stock Unit Award Agreement effective as of February 8, 2018 (the “2018 PBRSU Award Agreement”)

	Time-Based Restricted Stock Units (“TBRSUs”)
	44,615 	 	14,872/29,743	Time-Based Restricted Stock Unit Award Agreement effective as of February 8, 2018 (the “2018 TBRSU Award Agreement”)

	Time Vesting Restricted Stock (“TVRS”)
	115,905 	 	0/115,905	Restricted Stock Award Agreement (Time Vesting) effective as of May 15, 2019 (the “2019 TVRS Award Agreement”)

	Performance-Based Phantom Shares (“PBPSs”)
	231,810 	 	0/231,810	Performance-Based Phantom Share Award Agreement effective as of May 15, 2019 (the “2019 PBPS Award Agreement”)

	Time-Based Phantom Shares (“TBPSs”)
	115,905 	 	0/115,905	Time-Based Phantom Share Award Agreement effective as of May 15, 2019 (the “2019 TBPS Award Agreement”)

The TBSOs, PBSOs, PBRSUs and TBRSUs are subject to the terms and conditions of the applicable Award Agreements and the Basic Energy Services, Inc. Management Incentive Plan adopted by the Company effective as of December 23, 2016 (the “MIP”).  The PBPSs, TBPSs and TVRS are subject to the terms and conditions of the applicable Award Agreements and the Basic Energy Services, Inc. 2019 Long Term Incentive Plan adopted by the Company effective as of May 14, 2019 (the “LTIP”).  The Individual acknowledges and agrees that, except as otherwise provided herein, his right to any part of the Equity Awards, whether vested or unvested, shall continue to be governed by the applicable Award Agreements and the MIP or LTIP, as applicable. 
 
The Individual acknowledges and agrees that as a result of his mutually agreed upon voluntary resignation all Equity Awards to the extent unvested immediately prior to the Effective Date shall be forfeited as of the Effective Date.  The Individual acknowledges and agrees that all PBRSUs and TBRSUs which vested prior to the Effective Date have been settled in full.  The Individual acknowledges and agrees that all PBSOs and TBSOs which vested prior to the Amendment Effective Date shall be forfeited as of the Amendment Effective Date.  Notwithstanding any provision of this Agreement or any Award Agreement to the contrary, the Individual acknowledges and agrees that no Equity Award will vest on or before the Effective Date to a greater extent than reflected in the above table. 
 

By signing below, the Individual also acknowledges and agrees that he has no rights in any equity or equity-related interests in the Company or its affiliates other than the Equity Awards described above and any stock of the Company owned by the Individual as of the Separation Date either in his capacity as an investor of the Company or as a result of such stock being granted by the Company to him in connection with his employment and vested as of the Separation Date.   
 
Finally, the parties acknowledge and agree that all of their post-termination rights and obligations which continue by their terms under the Award Agreements, including without limitation under Sections 8 (Restrictive Covenant) and 9 (Miscellaneous) of the 2019 PBPS Award Agreement; Sections 6 (Restrictive Covenant) and 7 (Miscellaneous) of the 2019 TBPS Award Agreement; Sections 8 (Restrictive Covenant) and 9 (Miscellaneous) of the 2018 PBRSU Award Agreement; and Sections 6 (Restrictive Covenant) and 7 (Miscellaneous) of the 2018 TBRSU Award Agreement, shall constitute part of the Continuing Obligations for purposes of this Agreement and therefore shall continue in full force and effect according to their terms notwithstanding the termination of the Individual’s employment with the Company, the termination of the Employment Agreement, or the execution of this Agreement. 
 
4. Except as otherwise specifically set forth herein, all other terms and conditions of the Separation Agreement shall remain in full force and effect. 
 
IN WITNESS WHEREOF, the Individual has executed the Amendment and the Company has caused this Amendment to be executed in its name and on its behalf by its duly authorized officer, to be effective as of the Amendment Effective Date. 
 

 [Signature Page Follows]

 

INDIVIDUAL:    

			
	BY:  /s/Thomas Monroe Patterson      

	NAME:  Thomas Monroe Patterson

COMPANY:                       
          
			
	BY: /s/Eric Lannen

	NAME:  Eric Lannen
	Title: Vice President, Human Resources
	Date: October 25, 2019Document

Exhibit 10.3
This SUPPLEMENT NO. 1 dated as of July 23, 2019 (this “Supplement”), is delivered in connection with (a) the Security Agreement dated as of October 2, 2018 (as amended, restated or otherwise modified from time to time, the “Security Agreement”), among Basic Energy Services, Inc., a Delaware corporation (the “Borrower”), certain subsidiaries of the Borrower (such subsidiaries together with the Borrower, the “Debtors”) and Bank of America, N.A. (“Bank of America”), as administrative agent (in such capacity, the “Administrative Agent”) for the benefit of the holders of the Secured Obligations (as defined therein) and (b) the Guaranty dated as of October 2, 2018 (as amended, restated or otherwise modified from time to time, the “Guaranty”) made by the Debtors other than the Borrower (the “Guarantors”) for the benefit of the Administrative Agent and the Lenders. 
Reference is made to the ABL Credit Agreement dated as of October 2, 2018 (as amended, restated or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, the lenders from time to time party thereto (the “Lenders”) and the Administrative Agent.  Pursuant to the Guaranty, the Guarantors have agreed to guarantee, among other things, the full payment and performance of all of the Borrower’s obligations under the Credit Agreement. 
The Debtors have entered into the Security Agreement and the Guarantors have entered into the Guaranty as a condition precedent to the effectiveness of the Credit Agreement or the amendment thereof.  Section 7.12 of the Security Agreement and Section 19 of the Guaranty provide that additional Subsidiaries of the Borrower may become Debtors under the Security Agreement and Guarantors under the Guaranty by execution and delivery of an instrument in the form of this Supplement.  Each of the undersigned Subsidiaries (each a “New Debtor” and collectively the “New Debtors”) is executing this Supplement in accordance with the requirements of the Credit Agreement to become a Debtor under the Security Agreement and a Guarantor under the Guaranty. 
Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Security Agreement, the Guaranty, and the Credit Agreement. 
Accordingly, the Administrative Agent and each New Debtor agree as follows: 
SECTION 1. In accordance with Section 7.12 of the Security Agreement, each New Debtor by its signature below becomes a Debtor under the Security Agreement with the same force and effect as if originally named therein as a Debtor, and each New Debtor hereby (a) agrees to all the terms and provisions of the Security Agreement applicable to it as a Debtor thereunder and (b) represents and warrants that the representations and warranties made by it as a Debtor thereunder are true and correct in all material respects on and as of the date hereof.  The Schedules to the Security Agreement are hereby supplemented by the Schedules attached hereto with respect to each New Debtor.  In furtherance of the foregoing, each New Debtor, as security for the payment and performance in full of the Secured Obligations (as defined in the Security Agreement), does hereby create and grant to the Administrative Agent, for the benefit of the holders of the Secured Obligations, a security interest in and lien on all of such New Debtor’s right, title and interest in and to the Collateral of such New Debtor.  Each reference to a “Debtor” in the Security Agreement shall be deemed to include the New Debtors. 
SECTION 2. In accordance with Section 19 of the Guaranty, each New Debtor by its signature below becomes a Guarantor under the Guaranty with the same force and effect as if originally named therein as a Guarantor, and each New Debtor hereby (a) agrees to all the terms and provisions of the Guaranty applicable to it as a Guarantor thereunder and (b) represents and warrants that the representations and warranties made by it as a Guarantor thereunder are true and correct on and as of the date hereof.  Each reference to a “Guarantor” in the Guaranty shall be deemed to include the New Debtors. 
SECTION 3. Each New Debtor represents and warrants to the Administrative Agent that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms. 
SECTION 4. This Supplement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including by telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 
SECTION 5. Except as expressly supplemented hereby, the Security Agreement and the Guaranty shall remain in full force and effect. 
SECTION 6. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND INTERPRETED AND CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY, THE LAW OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. 

SECTION 7. All communications and notices to any New Debtor under the Security Agreement or the Guaranty shall be in writing and given as provided in Section 7.2 of the Security Agreement to the address for such New Debtor set forth under its signature below. 
SECTION 8. Each New Debtor agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other charges and disbursements of counsel for the Administrative Agent. 
 

IN WITNESS WHEREOF, each New Debtor and the Administrative Agent have duly executed this Supplement to the Security Agreement as the day and year first above written.

			
	AGUA LIBRE HOLDCO LLC, a Delaware 

	limited liability company.
	BY: /s/T. M. "Roe" Patterson
	NAME: T. M. "Roe" Patterson
	Title:   President and Chief Executive Officer 
	Address: 801 Cherry street, Suite 2100, Fort 
	Worth, TX 76102 

                         
			
	AGUA LIBRE ASSET CO LLC, as a Debtor

	limited liability company.
	BY: /s/T. M. "Roe" Patterson
	NAME: T. M. "Roe" Patterson
	Title:   President and Chief Executive Officer 
	Address: 801 Cherry street, Suite 2100, Fort 
	Worth, TX 76102 

			
	AGUA LIBRE MIDSTREAM LLC, a Delaware

	limited liability company.
	BY: /s/T. M. "Roe" Patterson
	NAME: T. M. "Roe" Patterson
	Title: President and Chief Executive Officer
	Address: 801 Cherry street, Suite 2100, Fort
	Worth, TX 76102

                       
			
	BANK OF AMERICA. N.A., as Administrative

	Agent
	BY: /s/Tanner Pump
	NAME: Tanner Pump
	Title: Senior Vice President

     

Supplemental Schedules
 to the Security Agreement 

SCHEDULE 3.3 
ORGANIZATION & LOCATION INFORMATION 

												
	Debtor	Jurisdiction & Type of Organization	Organizational ID#	Chief Executive Office, Sole Place of Business or Principal Residence
	Agua Libre Holdco LLC	Delaware limited liability company	7461954	801 Cherry Street, Suite 2100, Fort Worth, TX 76102
	Agua Libre Asset Co LLC 	Delaware limited liability company	7461956	801 Cherry Street, Suite 2100, Fort Worth, TX 76102
	Agua Libre Midstream LLC 	Delaware limited liability company	7461947	801 Cherry Street, Suite 2100, Fort Worth, TX 76102

SCHEDULE 3.4 
CERTAIN COLLATERAL 

Nothing to disclose.

SCHEDULE 3.5 
PLEDGED INSTRUMENTS 

Nothing to disclose.

SCHEDULE 3.7 
BANK ACCOUNTS 

Nothing to disclose.

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