Document:

EX-10.23.4

 Exhibit 10.23.4 
  

 
 AGREEMENT OF 

EQUIPMENT SUBSTITUTION 
 AFFECTING LOAN NO
1000137842 dated July 31, 2013, be it understood and agreed by and between JPMORGAN CHASE BANK, N.A. (“Lender”) and Borrower identified below: 

SUBSTITUTE EQUIPMENT. The following equipment is substituted for equipment covered under the above Loan: 

 

							
	 Make
	  	 Model
	  	 Year
	  	 Serial No./VIN

	Big Tex	  	Gooseneck Trailer	  	2007	  	16VGX242272665499
	Freightliner	  	Service Trk w/ eqpt	  	2005	  	1FVACWDC35HU55411
	Freightliner	  	Roustabout Bed	  	2004	  	1FVACWAK34HM75474
	Big Tex	  	Pipe Trailer	  	2011	  	16VFX3221B2398546
	Big Tex	  	Pipe Trailer	  	2013	  	16VFX3229D2349386
	Big Tex	  	Pipe Trailer	  	2013	  	16VFX3229D2349387
	Peterbilt	  	Hot Oil Truck	  	2014	  	1NPXL40X4ED224827
	Rig Works	  	Mustang 550	  	2013	  	1R9T5DN87DT571248
	Kenworth	  	Pump Truck 70 Bbl	  	1988	  	1XKDD29X0JS505810
	Case	  	Backhoe 580	  	2001	  	JJG0307618
	Trailer	  	Vac 130 Bbl	  	2001	  	5M328
	Mack	  	RD890S	  	2001	  	1M2P264Y31M032961
	Halliburton	  	Bulk Trailer	  	1979	  	5573
	Halliburton	  	Pump Trailer	  	1981	  	1H91H3420AD007060
	5M	  	Vac 130 Bbl	  	2003	  	5M348
	Mack	  	RD600S	  	2001	  	1M2P267Y21M058298
	Mack	  	CV713	  	2005	  	1M2AG11Y45M024842
	Vacu	  	Vac Trailer	  	2005	  	130ND10031120
	Mack	  	CV713	  	2006	  	1M2AG11Y16M041888
	Dragon	  	Vac Trailer	  	2006	  	1UNST42206L042017
	Big Tex	  	Trailer	  	2007	  	16VNX082471C82257
	Mack	  	CV713	  	2006	  	1M2AG11Y16M041891
	Troxell	  	Vac Trailer	  	2006	  	1T9TA432261867649
	Mack	  	CV713	  	2007	  	1M2AG11Y37M060024
	Galyean	  	Trailer	  	2006	  	169VT40246H016465
	Mack	  	CV713	  	2006	  	1M2AG11Y06M041882
	Peterbilt	  	388	  	2008	  	1XPWDB9X28D765191
	Troxell	  	Vac Trailer	  	2010	  	1T9TS40210R719361
	Peterbilt	  		  	2008	  	1XPWDB9X78D761427
	Troxell	  	Vac Trailer	  	2010	  	1T9TS4027AR719365
	Peterbilt	  	Vac Truck	  	1997	  	1XPFDB9X6VN429002
	Peterbilt	  	Vac Truck - 385	  	1998	  	1XPGDT9X2WN466625
	Gardner	  	Triplex Pump PES	  	n/a	  	Diesel/V6 Detroit
	Gardner	  	Triplex Pump TEE	  	n/a	  	Diesel/Cat C7
	JWS	  	Triplex Pump 165	  	n/a	  	Diesel/V6 Detroit
	JWS	  	Triplex Pump 165	  	n/a	  	Diesel/V6 Detroit

  
 Page 1 of 4 

							
	 Make
	  	 Model
	  	 Year
	  	 Serial No./VIN

	Mack	  	GU713 Trailer	  	2013	  	1M1AX04Y4DM016202
	Mack	  	GU713 Truck	  	2013	  	1M1AX04Y1DM016206
	Case	  	W20C Forklift	  	1984	  	9155731
	Mack	  	Water Truck	  	1994	  	1M2AA14Y6RW033047
	Cat	  	D6 Dozer	  	1984	  	4X9251
	Hercules	  	3 Axle Dropneck Trailer	  	1981	  	1HZL52301B1002674
	Hercules	  	Trailer	  	1979	  	A791479
	Mack	  	CH613	  	1999	  	1M1AA13Y6XW113340
	Mack	  	CH613	  	1999	  	1M1AA13Y8XW113288
	John Deere	  	5103 Tractor	  	2006	  	PY5103U010255
	Tow Master	  	Gooseneck Trailer	  	2007	  	5HNGN322871000304
	Tex-Mex	  	Trailer	  	2012	  	41MCB2026CW041585
	Mack	  	CH613, Dump Truck	  	2003	  	1M2AA18Y53W153987
	Case/Grader	  	865B	  	2013	  	NCAF01612
	Service King	  	Work Rig	  	2013	  	1S951DB8XDL976506
	John Deere	  	310E Backhoe	  	1998	  	T0310EX844331
	International	  	Dump Truck	  	1999	  	1HSHBAHNXXH232661
	John Deere	  	650J Dozer	  	2007	  	T0650JX129772
	Talbert	  	Trailer	  	2004	  	40FR0302X42022900
	Peterbilt	  		  	1990	  	1XPBDE9X5LN291580
	Rogers	  	Lowboy Trailer	  	1977	  	D4361
	Mack	  	R600	  	2000	  	1M2P268Y2YM054292
	Kubota	  	Excavator 80-3	  	2011	  	24387
	Quality	  	Ranger Trailer	  	2012	  	550FB1217CS001154
	Dickerson	  	Trailer	  	1976	  	1195S

 RELEASED EQUIPMENT. The following equipment is released from the above Loan: 

 

							
	 Make
	  	 Model
	  	 Year
	  	 Serial No./VIN

	Wilson	  	Mogul 42B	  	1980	  	10677
	Rig Works	  	Mustang 550	  	2006	  	1R9T5DM806T571107
	Rig Works	  	Mustang 550	  	2006	  	1R9T5DN846T571109
	Chevy	  	Silverado	  	2009	  	1GCHC43669F130683
	Ford	  	F-150	  	2010	  	1FTFX1EV7AFA02908
	Chevy	  	Silverado	  	2009	  	1GCHC43K69F190394
	Chevy	  	Silverado Crew Cab	  	2009	  	1GCHC43K19F190349
	Chevy	  	Silverado Crew Cab	  	2009	  	1GCHC43K09F190195
	Chevy	  	Silverado 2500 CC	  	2011	  	1GC1KXCG6BF104881
	Chevy	  	1500	  	2011	  	3GCPKSE31BF227977
	Toyota	  	Tundra	  	2011	  	5TFHW5F19BX197257
	Chevy	  	Silverado	  	2011	  	1GC1CVCG9BF229830
	Chevy	  	Silverado Ext Cab	  	2011	  	1GC2KXC87BZ459747
	Chevy	  	250 Crew Cab	  	2012	  	1GC1KXCG1CF150460
	Chevy	  	Crew Cab 4x4	  	2012	  	3GCPKSE75CG102971
	Chevy	  	2500 4x4 Crew Truck	  	2012	  	1GC1KXCG7CF199971
	Chevy	  	2500 Crew Truck	  	2012	  	1GC1CVCG1CF229001

  
 Page 2 of 4 

							
	 Make
	  	 Model
	  	 Year
	  	 Serial No./VIN

	Chevy	  	2500 Crew Truck	  	2012	  	1GC1CVCG2CF226687
	Chevy	  	2500 Crew Truck	  	2012	  	1GC1CVCG2CF227404
	Chevy	  	2500 Crew Truck	  	2012	  	3GCPKSE70CG247092
	Peterbilt	  	Vac Truck	  	2013	  	1XPSD79XXDD186682
	Southern	  	Vac Trailer	  	2012	  	4S9V6TA29CG270531
	Ford	  	F-250	  	2009	  	1FTRF12W39KA40345
	Ford	  	F-250	  	2009	  	1FTNF20599EA26513
	Ford	  	F-250	  	2010	  	1FTSX2B53AEB40203
	Ford	  	F-250	  	2011	  	1FT7X2AT3BEB76612
	Ford	  	F-350	  	2011	  	1FT8W3AT3BEB76610
	Ford	  	F-450	  	2011	  	1FDUF4GT6BEB76608
	Ford	  	F-250	  	2011	  	1FT7W2BT1BEB76609
	Ford	  	F-250	  	2011	  	1FT7X2AT5BEB76613
	Ford	  	F-250	  	2011	  	1FT7X2AT1BEB76611
	Ford	  	F-250	  	2011	  	1FT7X2AT7BEB76614
	Ford	  	F-250	  	2011	  	1FT7X2ATXBEC92681
	Ford	  	F-150	  	2011	  	1FTNF1CF6BKE15759
	Ford	  	F-150	  	2012	  	1FTMF1CM5CKD53539
	Ford	  	F-550	  	2012	  	1FDUF5GTXCEA72257
	Ideco	  	BIR 3087	  	1979	  	ALRR758
	Chevy	  	Silverado	  	2011	  	1GB4CZCG4BF242798
	GMC	  	Silverado 1500	  	2011	  	1GTR2VE37BZ218937
	Chevy	  	Silverado 1500	  	2011	  	1GCRKSE34BZ187113
	Dodge	  	Ram 3500 4x4	  	2012	  	3C7WDTCL3CG198145
	Chevy	  	Sivlerado	  	2009	  	3GCEK23319G212612
	Chevy	  	Pick-up	  	2010	  	1GCPKPE09AZ174995
	GMC	  	Sierra	  	2011	  	1GTN2TE04BZ155529
	Chevy	  	Pick-up	  	2011	  	1GB4KZCG6BF166746
	Dodge	  	Ram 1500 4x4	  	2011	  	1D7RV1CTXBS593352
	GMC	  	Pick-up	  	2011	  	1GTN2TE02BZ428211
	Chevy	  	Silverado 1500	  	2012	  	3GCPKSE74CG199533
	Chevy	  	Silverado 1500	  	2012	  	1GCNKPE09CZ271835
	Dodge	  	Ram 3500 4x4	  	2011	  	3D6WZ4ET5BG533688
	Ford	  	F-250	  	2011	  	1FTBF2B68BEC70619
	Chevy	  	Pick-up	  	2011	  	1GCOKVCG6BF231372
	Chevy	  	Silverado	  	2013	  	1GC0KVCG0DF110050
	Ranger	  	Polaris	  	2012	  	4XATH76A7C2257350

 The undersigned Borrower represents and warrants that it has acquired the Substitute Equipment at its sole expense, that the
purchase price of the Substitute Equipment has been paid in full by Borrower, and that the Substitute Equipment is free and clear of any liens, security interest and other encumbrances except for the rights of Lender under the above Loan and the
documents related to it. 
 Except as expressly amended hereby, the above Loan and all documents related to it remain in full force and effect. 

NOW, THEREFORE, the above Acknowledgement has been read and is hereby agreed to by the undersigned parties on this 15th day of January, 2014.

  
 Page 3 of 4 

									
	EASTERN OIL WELL SERVICE COMPANY	 		 	JPMORGAN CHASE BANK, N.A.
	(Borrower)	 		 	(Lender)
					
	By:	 	 /s/ Beverly A. Cummings
	 		 	By:	 	 /s/ Teri Fancelli

		 	Beverly A. Cummings	 		 		 	Terri Fancelli
	Title:	 	 Executive Vice President
	 		 	Title:	 	 Authorized Signer

				
	EOWS MIDLAND COMPANY	 		 		 	
	(Borrower)	 		 		 	
					
	By:	 	 /s/ Beverly A. Cummings
	 		 		 	
		 	Beverly A. Cummings	 		 		 	
	Title:	 	 Executive Vice President
	 		 		 	
				
	SOUTHWEST OILFIELD CONSTRUCTION COMPANY	 		 		 	
	(Borrower)	 		 		 	
					
	By:	 	 /s/ Beverly A. Cummings
	 		 		 	
		 	Beverly A. Cummings	 		 		 	
	Title:	 	 Executive Vice President
	 		 		 	

  
 Page 4 of 4EX-10.5

 EXHIBIT 10.5 

Confidential Materials omitted and filed separately with the 

Securities and Exchange Commission. Double asterisks denote omission. 
  

 
 2014 SALES COMMISSION PLAN 

January 1, 2014 
 Jack
Abrams 
 MKS Sales 
 Plan
Objective: 
 The MKS Sales Commission Plan or SCP is intended to attract and retain high quality talent and to motivate participants of the SCP to
build and sustain value for the Company. Participants are eligible to receive a sales commission/bonus payout based on MKS’s financial success and individual goals and objectives that align with MKS’s Strategic Business Plan. 

Policy: 
 The purpose of this document is to set
forth the Company’s policies governing Incentive Compensation under the SCP. 
 MKS is committed to providing compensation opportunities that, when
performance warrants, will be comparable to those provided by other companies with similar revenues and operational characteristics. 
 The Company will
attempt to set overall compensation at levels consistent with rates paid by other companies for positions similar in importance and complexity to those at MKS. 

Sales commission/bonus plans will be structured so that when goals are achieved, incentive awards will also be consistent with competitive pay levels. When
results exceed or fall short of goals, compensation will exceed or fall short of competitive levels. 
 The Vice President, Human Resources is responsible
for ensuring that actual pay practices at MKS conform to the philosophy described above. 
 Effective Date: 

This SCP will be in effect from January 1, 2014 to December 31, 2014, unless revised or terminated during the year by the Company in its sole discretion. This
SCP will be reviewed and revised annually and semi-annually for Key Accounts as determined by the agreed upon December and June forecasts. This SCP supersedes and cancels all previous Sales Commission/Bonus Plans. 

Eligibility: 
 Participation in the Sales
Commission Plan will be determined each year by the respective Director of Sales and/or the Vice President of Sales or respective Group Vice President/GM with final approval by the CEO. 

Definitions: 
 Base Compensation is defined
as the Participant’s base salary earnings, prior to the calculation of any commission/bonus or Incentive Compensation, in effect as of January 1 of the current plan year. If an employee receives a compensation adjustment during the year, the
participant’s incentive target will be prorated based upon the effective date. For effective dates of the first of the month through the fifteenth of the month, the bonus payment will be prorated based on the first of the month. For effective
dates after the fifteenth of the month, the incentive target will be prorated based on the first of the following month. 
 Bookings are defined as
written customer Purchase Orders which have been reviewed, approved and accepted by the Company in accordance with the standard Company (a) contract review and approval process, and (b) purchase order review and approval process. It is understood
that only Bookings that fulfill all of the above will be credited against the Participant’s Target and be included in the calculation of the Participants’ Incentive Compensation payment under this plan. 

Company is defined as MKS Instruments or any of its subsidiaries. 

 Customer Purchase Order(s) is defined as a written order to purchase standard Company products. 

Incentive Compensation is defined as the amount indicated in Attachment A to be paid in accordance with the percentage of the Revenue or Bookings
performance level achieved. 
 Incentive Target is defined as the amount indicated in Attachment A. 

Participant(s) is/are defined as current employees of the Company who both meet the eligibility requirements, as stated below to participate in the
Plan and execute a copy of this Plan. 
 Revenue is defined as revenue that is recognized by the Company in accordance with standard Company revenue
recognition guidelines, policies and procedures, and is recorded on official Company reports, records and financial statements as Company revenue. Only Revenue that meets this definition will be credited against the Participant’s Target and
considered in the calculation of the Participant’s Incentive Compensation payment under this Plan. 
 Shipment is defined as shipments of
company products to customers. It is understood that shipments will be credited against the Participant’s Target and included in the calculation of the Participants’ Incentive Compensation payment under this plan. 

Targeted Incentive is the total amount of Incentive Compensation that would be earned if 100% of all Target(s) was/ were met. 

Payment of Incentive Compensation: 
 Participants
are eligible to receive Incentive Compensation for the sale of Company products and services included on all Bookings. Incentive Compensation is earned and paid 100% upon shipment. Payments will be made on a monthly or quarterly basis depending on
the position, with some exceptions which are paid annually. Following approval of the respective Group Vice President/GM and/or Director of Sales, payments will be processed with the last bi-weekly payroll of the month. 

If shipments, which result in an Incentive Compensation payment, are subsequently canceled or returned, these canceled orders will be debited against the
monthly/quarterly bookings currently accrued at the time of the cancellation. 
 Commission/Bonus will be calculated per the performance level achieved by
applying the respective commission rate formula stated in Attachment A. The amount of the Incentive Compensation is calculated by using the calculation formula contained in Attachment A, and, if applicable, along with any threshold or cap on the
Incentive Compensation amount that Participant can earn under this Plan. 
 Eligibility for full payment under this Plan is conditioned upon remaining
actively employed. For involuntary terminations, other than cause, Incentive Compensation that has been fully earned by Participant prior to the termination date shall be paid to Participant within forty-five (45) calendar days of termination date.

 Incentive Splits 
 In the event that more than
one Participant participate in the same sale, the Incentive Compensation will potentially be divided by the number of participants to determine the incentive amount. Participants will only be eligible for Incentive Compensation if they were actively
involved in the selling process as determined by the respective Director of Sales and/or the Vice President of Sales or respective Group Vice President/GM. 

Personnel Changes: 
 In the event of a transfer,
promotion, leave of absence, territorial realignment, or other personnel change, other than termination, that would affect the Participant’s entitlement under this Plan, Incentive Compensation shall be calculated from the first date of
eligibility in the Plan up to the day just prior to the effective date of the change in status of the Participant. For effective dates of the first of the month 

 
through the fifteenth of the month, the bonus payment will be prorated based on the first of the month. For effective dates after the fifteenth of the month, the incentive target will be prorated
based on the first of the following month. For involuntary terminations, other than cause, Incentive Compensation that has been fully earned by Participant prior to the termination date shall be paid to Participant within forty-five (45) calendar
days of termination date. 
 Administration: 

Authority for the overall administration and interpretation of this SCP rests entirely with the Company. 

Disputes regarding the administration of this plan, calculation of Incentive Compensation, or any other matter related to this Plan should be referred to the
President & Chief Executive Officer. 
 Plan Amendments: 

Company reserves the right to amend, alter or discontinue the Plan at any time, as a whole or as it may pertain to a particular transaction, for any reason.
Notice, which may be given in any form, of any such change will be provided to Participant within a reasonable time. All Incentive Compensation earned under a prior incentive plan but not paid shall be paid according to that plan. 

Entire Agreement: 
 These terms and conditions,
including Attachment A, constitute the entire agreement between the Company and the Participant with respect to the subject matter hereof and expressly supersedes all proposals and prior negotiations and understandings, whether written or oral,
between the Company and the Participant with respect to the subject matter hereof. 
 Acknowledgement and Receipt: 

My signature verifies that I have received a copy of the Sales Commission Plan and Attachment for the Plan Period and agree to abide by its terms: 

 

							
	 /s/ Jack Abrams
	  		  	     3/28/14
	  	
	Jack Abrams, Senior VP, Global Sales	  		  	Date	  	
				
	 /s/ Gerald Colella
	  		  	     3/28/14
	  	
	Gerald Colella, CEO & President	  		  	Date	  	
				
	 /s/ Marina Smith
	  		  	     3/28/14
	  	
	Marina Smith, Director, Compensation & Benefits	  		  	Date	  	

	
	  
 Attachment A

2014 Incentive Compensation Plan

MKS Accounts
  

	 Employee Name: Jack Abrams
  

Job Title: Sr. Vice President, Global Sales
  

Region (if applicable):
  

Products (if applicable): All MKS Products
  

Accounts (for Key Accounts):
  

Base Salary (in local currency):
  

Base Salary (in US$): $275,000
  

Total Incentive Comp at 100% achievement (in local currency):
  

Total Incentive Comp at 100% achievement (in US$): $192,500
  

					
	 Total Bookings Goal

$M
	  	 Commission Rate (or % of base)
	  	 Commission Target

	[**]	  	70%	  	$192,500

 Bookings 
  

									
	 	 	 Bookings %
Target
	  	Bookings	 	% Bonus	 	 
		 	70%	  	[**]	 	15%	 	
		 	74%	  	[**]	 	25%	 	
		 	77%	  	[**]	 	35%	 	
		 	82%	  	[**]	 	50%	 	
		 	86%	  	[**]	 	60%	 	
		 	87%	  	[**]	 	63%	 	
		 	88%	  	[**]	 	66%	 	
		 	89%	  	[**]	 	69%	 	
		 	91%	  	[**]	 	75%	 	
		 	95%	  	[**]	 	85%	 	
		 	100%	  	[**]	 	100%	 	
		 	108%	  	[**]	 	125%	 	
		 	115%	  	[**]	 	150%	 	
		 	123%	  	[**]	 	175%	 	
		 	130%	  	[**]	 	200%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00230-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00230-of-00352.parquet"}]]