Document:

Exhibit 4.1

 

SECOND SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of November 7, 2014, is entered into by and among SPX Corporation, a corporation organized under the laws of the State of Delaware (the “Company”), the Subsidiary Guarantors (as defined in the Indenture referred to below) and U.S. Bank National Association (or its permitted successor) as trustee (the “Trustee”) under the Indenture referred to below.

 

W I T N E S S E T H

 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (as amended and supplemented by the First Supplemental Indenture, dated as of January 23, 2014, the “Indenture”), dated as of August 16, 2010, providing for the issuance of 6.875% Senior Notes due 2017 (the “Notes”);

 

WHEREAS, the Company has solicited (the “Consent Solicitation”) Holders of the Notes to deliver their consents (the “Consents”) to amend the Indenture to clarify the application of Article Five of the Indenture to the Company’s proposed transfer of its current Flow Technology reportable segment, along with its hydraulic technologies business, to a separate company which will then be spun off to the Company’s shareholders and be a separate, publicly traded company, with the Company’s remaining business, consisting of its Thermal Equipment and Services reportable segment and its power transformer, Radiodetection, Genfare and communication businesses, to continue as a separate, publicly traded company, as described in the Consent Solicitation Statement, dated October 29, 2014 (the “Statement”), by amending certain provisions in Article One and Article Five of the Indenture;

 

WHEREAS, the first paragraph of Section 9.02 of the Indenture provides that the Company, the Subsidiary Guarantors and the Trustee may amend certain of the provisions of the Indenture and the Notes with the consent of the Holders of at least a majority in aggregate principal amount of the Notes then outstanding;

 

WHEREAS, in connection with the Consent Solicitation, Holders of at least a majority in aggregate principal amount of the Notes outstanding (determined as provided for by the Indenture) have duly delivered Consents in writing (as evidenced by their execution of a Consent Form) to the Proposed Amendment (as defined in the Statement) set forth in the Statement and this Supplemental Indenture in accordance with the first paragraph of Section 9.02 of the Indenture and (ii) all other conditions precedent provided under the Indenture to permit the Company, the Subsidiary Guarantors and the Trustee to enter into this Supplemental Indenture have been satisfied as certified by an Officers’ Certificate delivered to the Trustee on the date hereof;

 

WHEREAS, this Supplemental Indenture shall be effective upon its execution by the Company, the Subsidiary Guarantors and the Trustee, and the amendments effected by this Supplemental Indenture shall become operative with respect to the Notes upon the payment of the Consent Fee (as defined in the Statement) to the Tabulation Agent (as defined in the Statement) for the benefit of each Holder who delivers a valid and unrevoked Consent prior to the Expiration Time (as defined in the Statement) and all remaining Conditions (as defined in the Statement) are satisfied or waived, in accordance with Section 3 hereof;

 

WHEREAS, the Company has requested the Trustee to join with it in entering into this Supplemental Indenture for the purpose of amending the Indenture in accordance with the Proposed Amendment as permitted by the first paragraph of Section 9.02 of the Indenture; and

 

WHEREAS, pursuant to Section 9.02 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.

 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the Subsidiary Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

1.             CAPITALIZED TERMS.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 

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2.             AMENDMENTS.

 

(a)           Amendment of Article One.  Article One of the Indenture is hereby amended as follows:

 

(1)           The current definition of “Credit Agreement” in Section 1.01 is hereby replaced with the following definition:

 

“Credit Agreement means (x) until immediately prior to the consummation of the Flowco Asset Transfer, the credit agreement, dated as of September 21, 2007, as amended, among SPX Corporation and other borrowers party thereto from time to time, as Borrowers, the lenders party thereto from time to time, Bank of America, N.A. as Administrative Agent, Deutsche Bank AG Deutschlandgёschaft Branch as Foreign Trade Facility Agent, JPMorgan Chase Bank, N.A. as Syndication Agent, Citibank, N.A. and The Bank of Nova Scotia as Co-Documentation Agents, Banc of America Securities LLC and Deutsche Bank AG Deutschlandgёschaft Branch as Joint Lead Arrangers, Banc of America Securities LLC, Deutsche Bank AG Deutschlandgёschaft Branch and J.P. Morgan Securities Inc., together with any agreements, instruments, security agreements, guaranties and other documents executed or delivered pursuant to or in connection with such credit agreement, as such credit agreement or such agreements, instruments, security agreements, guaranties or other documents may be amended, supplemented, extended, restated, renewed or otherwise modified from time to time and any successive refundings, refinancings, replacements or substitutions thereof or therefor, whether with the same or different lenders, and (y) from and after the consummation of the Flowco Asset Transfer, any credit agreement in effect among Flow Company and any other borrowers party thereto from time to time, the lenders or other providers of credit party thereto from time to time, any agents or arrangers party thereto from time to time, together with any agreements, instruments, security agreements, guaranties and other documents executed or delivered pursuant to or in connection with such credit agreement, as such credit agreement or such agreements, instruments, security agreements, guaranties or other documents may be amended, supplemented, extended, restated, renewed or otherwise modified from time to time and any successive refundings, refinancings, replacements or substitutions thereof or therefor, whether with the same or different lenders or other providers of credit.

 

(2)           The following definitions are hereby inserted between the definitions “fair market value” and “Foreign Subsidiary” in Section 1.01:

 

“Flowco Assets” means the assets and property of the Company’s Flow Technology reportable segment and its Subsidiaries’ hydraulic technologies business prior to the Flowco Asset Transfer.

 

“Flowco Asset Transfer” means the completion of the transfer of the Flowco Assets to Flow Company (either directly to Flow Company or to one or more subsidiaries of Flow Company) in one transaction or a series of related transactions in connection with the Spin-off.

 

“Flowco Notes” has the meaning provided in Section 5.03.

 

“Flow Company” means the company which will directly and indirectly hold the Flowco Assets after the Flowco Asset Transfer.

 

(3)           The following bold, underlined language is hereby added to the definition of “Notes” in Section 1.01:

 

“Notes” means any of the securities, as defined in the first paragraph of the recitals hereof, that are authenticated and delivered under this Indenture.  For all purposes of this Indenture, the term “Notes” shall include the Notes initially issued on the Closing Date, any Exchange Notes to be issued and exchanged for any Notes pursuant to the Registration Rights Agreement and this Indenture, the Flowco Notes and any other Notes issued after the Closing Date under this Indenture.  For purposes of this Indenture, all Notes shall vote together as one series of Notes under this Indenture.

 

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(4)           Adding the following definition in Section 1.01, between the definitions “Significant Subsidiary” and “Stated Maturity”:

 

“Spin-off” means the distribution, promptly after the Flowco Asset Transfer, of all of the shares of Flow Company to the stockholders of SPX Corporation in a spin-off transaction, after which Flow Company will be a separate, publicly traded company.

 

(b)           Amendment of Article Five.  Article Five of the Indenture is hereby amended as follows:

 

(1)           The following provision is hereby inserted as a new paragraph at the end of Section 5.01:

 

“The provisions in this Section 5.01 shall be interpreted as follows: the transfer of the Flowco Assets to Flow Company pursuant to the Flowco Asset Transfer shall be deemed to be the transfer of substantially all of the Company’s property and assets (as an entirety or substantially an entirety in one transaction or a series of related transactions) to Flow Company so long as the Flowco Assets accounted for a majority of the consolidated revenues of SPX Corporation for the most recent four fiscal quarter period ending prior to the Spin-off.”

 

(2)           The following provision is hereby inserted as new Section 5.03:

 

“SECTION 5.03   Flow Company Substitution.  If Flow Company is substituted for the Company pursuant to Section 5.02 as a result of the Flowco Asset Transfer, such substitution shall be treated for tax purposes as an issuance by Flow Company to the Company of notes in the same amount as, and with terms identical to, the Notes (the “Flowco Notes”), as partial consideration for the Flowco Asset Transfer, followed by a distribution by the Company of the Flowco Notes to the Holders in exchange for the Notes.”

 

3.             EFFECT AND OPERATION OF SUPPLEMENTAL INDENTURE.  This Supplemental Indenture shall be effective and binding immediately upon its execution by the Company, the Subsidiary Guarantors and the Trustee, and thereupon this Supplemental Indenture shall form a part of the Indenture for all purposes, and every Note and Note Guarantee heretofore or hereafter authenticated and delivered under the Indenture shall be bound hereby; provided however, notwithstanding anything in the Indenture or this Supplemental Indenture to the contrary, the amendments set forth in Section 2 of this Supplemental Indenture shall become operative only upon and simultaneously with, and shall have no force and effect prior to, the Company’s payment of a Consent Fee to each Holder that delivered a valid and unrevoked Consent prior to the Expiration Time, it being understood that payment to the Tabulation Agent for the Consent Solicitation of the aggregate Consent Fees owing to such Holders shall conclusively be deemed payment to each such Holder. Prior to the time of the Company’s payment of such Consent Fee, the Company may terminate this Supplemental Indenture upon written notice to the Trustee, including in connection with any termination or withdrawal of the Solicitation with respect to the Proposed Amendment or if for any other reason the Consents are not accepted pursuant to the Solicitation. If the Solicitation is terminated or withdrawn, or the Company does not accept the Consents and pay the Consent Fee for any reason, this Supplemental Indenture shall not become operative. Except as modified and amended by this Supplemental Indenture, all provisions of the Indenture and the Notes shall remain in full force and effect.

 

4.             INDENTURE AND SUPPLEMENTAL INDENTURE CONSTRUED TOGETHER.  This Supplemental Indenture is an indenture supplemental to, and in implementation of, the Indenture, and the Indenture and this Supplemental Indenture shall henceforth be read and construed together.

 

5.             TRUST INDENTURE ACT CONTROLS.  If any provision of the Indenture, as amended by this Supplemental Indenture, limits, qualifies or conflicts with another provision which is required or deemed to be included in the Indenture, as amended by this Supplemental Indenture, by the Trust Indenture Act, such required or deemed provision of the Trust Indenture Act shall control.

 

6.             NO RECOURSE AGAINST OTHERS.  No recourse for the payment of the principal of,

 

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premium, if any, or interest on any of the Notes, or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company contained in the Indenture or in any of the Notes, as amended by this Supplemental Indenture, or because of the creation of any Indebtedness represented thereby, shall be had against any incorporator or against any past, present or future partner, stockholder, other equityholder, officer, director, employee or controlling person, as such, of the Company or of any successor Person, either directly or through the Company or any successor Person, whether by virtue of any constitution, statute, rule of law, or by the enforcement of any assessment or penalty or otherwise; it being expressly understood that all such liability is expressly waived and released as a condition of, and as a consideration for, the execution of the Indenture and the issue of the Notes, in each case as amended by this Supplemental Indenture.

 

7.             NEW YORK LAW TO GOVERN.  THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

 

8.             SEPARABILITY.  In case any provision in this Supplemental Indenture, the Indenture as supplemented by this Supplemental Indenture, or in the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

9.             DUPLICATE ORIGINALS.  The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.

 

10.          EFFECT OF HEADINGS.  The Section headings herein have been inserted for convenience of reference only, are not to be considered a part hereof and shall in no way modify or restrict any of the terms and provisions hereof.

 

11.          THE TRUSTEE.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Company.

 

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IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the date first above written.

 

 

	
 
    	
SPX CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin L. Lilly
    
	
 
    	
 
    	
Name:
    	
Kevin   L. Lilly
    
	
 
    	
 
    	
Title:
    	
Senior   V.P., Secretary & General Counsel
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
THE MARLEY-WYLAIN COMPANY
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   John Swann
    
	
 
    	
 
    	
Name:
    	
John   Swann
    
	
 
    	
 
    	
Title:
    	
President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SPX TRANSFORMER SOLUTIONS, INC.
    
	
 
    	
(F/K/A WAUKESHA ELECTRIC)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin L. Lilly
    
	
 
    	
 
    	
Name:
    	
Kevin   L. Lilly
    
	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
MCT SERVICES LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Gene Lowe
    
	
 
    	
 
    	
Name:
    	
Gene   Lowe
    
	
 
    	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SPX COOLING TECHNOLOGIES, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin L. Lilly
    
	
 
    	
 
    	
Name:
    	
Kevin   L. Lilly
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President and Secretary
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
THE MARLEY COMPANY LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin L. Lilly
    
	
 
    	
 
    	
Name:
    	
Kevin   L. Lilly
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President and Secretary
    

 

[Second Supplemental Indenture]

 

 

	
 
    	
KAYEX CHINA HOLDINGS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin L. Lilly
    
	
 
    	
 
    	
Name:
    	
Kevin   L. Lilly
    
	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
MARLEY ENGINEERED PRODUCTS LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin L. Lilly
    
	
 
    	
 
    	
Name:
    	
Kevin   L. Lilly
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President and Secretary
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SPX FLOW TECHNOLOGY USA, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin L. Lilly
    
	
 
    	
 
    	
Name:
    	
Kevin   L. Lilly
    
	
 
    	
 
    	
Title:
    	
Executive   Vice President and Secretary
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SPX HOLDING INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin L. Lilly
    
	
 
    	
 
    	
Name:
    	
Kevin   L. Lilly
    
	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
FLASH TECHNOLOGY, LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin L. Lilly
    
	
 
    	
 
    	
Name:
    	
Kevin   Lilly
    
	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
SPX HEAT TRANSFER LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin L. Lilly
    
	
 
    	
 
    	
Name:
    	
Kevin   L. Lilly
    
	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    

 

[Second Supplemental Indenture]

 

 

	
 
    	
SPX FLOW TECHNOLOGY SYSTEMS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kevin L. Lilly
    
	
 
    	
 
    	
Name:
    	
Kevin   L. Lilly
    
	
 
    	
 
    	
Title:
    	
Vice   President and Secretary
    

 

[Second Supplemental Indenture]

 

 

	
 
    	
U.S.   BANK NATIONAL ASSOCIATION,
    
	
 
    	
as Trustee
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Paul Vaden
    
	
 
    	
 
    	
Name:
    	
Paul   Vaden
    
	
 
    	
 
    	
Title:
    	
Vice   President
    

 

[Second Supplemental Indenture]Exhibit 10.1

 

AGREEMENT

 

This Agreement ("Agreement") between
Save The World Air, Inc. ("STWA") and Newfield Exploration Company ("Operator") (collectively the "Parties"
and individually, a "Party") is made this 15th day of October, 2014.

 

RECITALS

 

WHEREAS, Operator operates a crude oil exploration,
production and related facilities ("Operator's Business"):

 

Whereas, STWA has developed and owns certain
technology which uses electric fields to modify characteristics of oil specifically designed to optimize upstream transit and storage
operations (the "Upstream Technology");

 

Whereas, STWA and Operator believe the Upstream
Technology could increase the effectiveness, commercial viability and profitability of' Operator's Business:

 

Whereas, STWA and Operator wish to test the
effectiveness of the Upstream Technology in the context of Operator's Business; and,

 

Whereas, it is the desire of STWA to deliver
the Upstream Technology to Operator, and it is the desire of Operator to accept STWA's delivery of the Upstream Technology, for
the sole purpose of testing the effectiveness of the Upstream Technology in connection with the operation of Operator's Business,
on the terms and conditions set forth in this Agreement.

 

NOW, Therefore, in consideration of the covenants
set forth below and for good and valuable consideration, the receipt and sufficiency of which is acknowledged by the Parties, the
Parties agree, as follows:

 

	1.		Upstream Technology.

 

STWA herby agrees to deliver the Upstream Technology, including
all parts, components, software, accessories, accessions, replacements, substitutions, additions and improvements (collectively,
the "Upstream Equipment") related to the Upstream Technology, to Operator, on a non-exclusive basis, for the sole purpose
of allowing Operator to test the effectiveness of the Upstream Technology in connection with the operation of Operator's Business.

 

	2.		Delivery, Installation, Operation, Data Collection and Maintenance of the Upstream
Equipment and Upstream Technology.

 

A. STWA, at ST'WA's expense, shall deliver
the Upstream Equipment to Operator by a date no later than December 30th, 2014 to a location designated by Operator. This date
may he extended by the mutual written consent of the Parties.

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B.The Upstream Equipment shall be installed,
at Operator's expense, at the location designated by Operator.

 

C.Installation shall be performed by Operator
and STWA in a professional and workmanlike manner in conformance with all reasonable requirements of STWA, and in compliance with
good construction and engineering practices.

 

D.STWA shall provide Operator with instructional
service in the installation and operation of the Upstream
Equipment during such installation process. All installation and operation instruction provided by STWA will be at no charge to
Operator.

 

E.
Any alteration or modifications to the Upstream Equipment may be made only with consultation with and written approval by STWA.

 

F. Operator, at its expense, shall operate
the Upstream Equipment and shall keep and maintain the Upstream Equipment during the Term (defined below). In the event the Upstream
Equipment is lost, damaged, in whole or in part, or stolen, while in the sole care, custody, and control of Operator, Operator
shall pay to STWA the greater of the depreciated book value or lair market value of the Upstream Equipment. If the Parties are
unable to agree on fair market value under this subsection F, the fair market value of the Upstream Equipment shall be determined
by an independent appraiser, jointly selected by the Parties. The appraiser must be recognized as an expert in valuing assets related
to or similar to the Upstream Equipment.

 

G. All repairs and maintenance of the Upstream
Equipment shall be performed promptly by Operator in consultation with STWA. Operator shall supply labor, at Operator's cost, and
all materials shall be provided by STWA, at STWA's cost in connection with the operation and maintenance of the Upstream Equipment.

 

H. Upstream Technology data ("Data")
generated in connection with the use of the Upstream Equipment under this Agreement shall be collaborative and transparent between
STWA and Operator. All Data collected by Operator shall be promptly delivered to STWA and. subject to the binding confidentiality
and nondisclosure provisions in section 4, below. Data cannot be shared or released to any outside entity (other than STWA) or
third party without the. written consent STWA. All Data generated in connection with the operation of the Upstream Equipment shall
he exclusively owned by, and be the exclusive property of, STWA.

 

I.Parties may, from time to time, make
changes or improvements to the Upstream Equipment ("Improvements"). Any such Improvements to the Upstream Equipment during
the Term of this Agreement shall only be made with the consent of both Operator and STWA. Any such Improvements shall 'be the sole
and exclusive property of STWA.

 

3. Term.

 

The term of this Agreement shall be for a period
of six (6) months (the "Term"), commencing on the date of installation of the Upstream Equipment, estimated to be on
a date not later than December 30, 2014. Upon expiration of the Term, based on and subject to the efficacy of the Upstream Technology
as tested under this Agreement. the Parties agree to enter into good faith negotiations for the sale or license of the Upstream
Technology to Operator pursuant to such Wins and conditions to which the Parties shall mutually agree. It is understood and agreed,
however, that either party hereto may cancel this Agreement at any time by giving the other party at least thirty (30) days prior
written notice of such cancellation.. Neither party hereto shall by the termination of this Agreement be relieved of its respective
obligations and liabilities arising from or incident to work performed or services rendered pursuant hereto.

 

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4.Intellectual
Property/Confidentiality. The Parties acknowledge and agree that STWA is the holder and owner of worldwide
exclusive patents, patents pending, licenses and rights for the Upstream Technology and Upstream Equipment and any and all Improvements
thereon and data related thereto. Nothing contained in this Agreement shall be deemed to transfer or assign any right, title or
interest in or to the Upstream Technology or Upstream Equipment or Improvements thereon Or data related thereto to Operator, it
being expressly understood between the Parties that all right, title and interest in and to the Upstream Technology and Upstream
Equipment and Improvements thereon and data related thereto is and shall remain at all times the exclusive property of STWA.

 

Notwithstanding the forgoing, STWA agrees that
Operator may keep and use any data and results for the purpose of evaluating the effectiveness of the Upstream Technology and Upstream
Equipment. Any such use by Operator shall he in accordance with the terms and conditions at' this Agreement.

 

Operator hereby' acknowledges that, during
and solely as a result of this Agreement, it have access to confidential information of STWA. Operator hereby agrees as follows:

 

(i)
Confidential Information. "Confidential Information" shall mean any information, tangible
or intangible, relating to the Upstream Technology, Upstream Equipment and improvements thereon and business of STWA and its affiliated
companies, and their products„ finances, budgets, methods, policies, procedures, business, plans, computers, data, techniques,
patents, patents pending, trademarks, research or development, projects or results, customers or clients, employees, trade secrets,
or other knowledge or processes of or developed by STWA and its affiliated companies, and any other confidential information
relating to or dealing with the businesses and technologies of STWA and its affiliated companies, made known to Operator, or learned
or acquired by Operator as a result of this Agreement, but Confidential Information shall not include information lawfully known
generally by or readily accessible to the trade or the general public.

 

(ii) Use. During
the Term hereof, Operator shall use and disclose Confidential information only for purposes set forth in this Agreement, and only
as necessary to carry out Operator's obligation under this Agreement. After the Term hereof, Operator shall not directly or indirectly,
disclose to any person or entity, or use for the direct or indirect benefit of itself' or any person or entity, any Confidential
Information, without the express written permission of STWA.

 

(iii)Return of
Confidential Information. Upon the termination of this Agreement
for any reason, or at the request of STWA, Operator shall promptly deliver to STWA the Upstream Equipment and improvements
thereon and all Data, records, files, memoranda, documents, lists and other information containing any Confidential Information,
including all copies or summaries thereof, in Operator's possession or control, whether prepared by Operator Or others. Should
Operator discover such items in its possession after its separation with STWA, it agrees to return such items promptly to STWA
without retaining copies.

 

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5.  Acceptance of
Delivery.

 

By accepting possession, and after a reasonable
period for inspection, on the Upstream Equipment under this Agreement. Operator accepts the condition of the Upstream Equipment.

 

6.  Operation of the Upstream
Equipment.

 

Operator shall operate the Upstream Equipment
during the Term for the purpose only as set forth in this Agreement.

 

7. Indemnification.

 

Operator agrees to defend, indemnify and hold
STWA, its parent, subsidiary and affiliate companies, its subcontractors, their agents, employees, directors, officers, servants,
and invitees (the "STWA Group"), harmless from and against any and all losses, claims, demands. liabilities or causes
of action of every kind and character, in favor of any person or party, for any Operator Group's (defined below) property casualty,
and for injury to or illness or death of any employee, contractor, agent or representative of Operator Group, which casualty, injury,
illness or death relates to, arises out of or is incident to the work or services performed by Operator under this Agreement, and
regardless of the cause or such casualty, injury, illness or death, even though caused in whole or in part by a pre-existing defect,
the STWA Group's negligence Or strict liability, or other legal fault of the STWA Group, whether sole, joint or concurrent. Operator
shall hilly defend any such claim, demand or suit at its sole expense, even if the same is groundless. Operator's indemnification
of STWA Group hereunder includes any contractual liability under indemnity agreements that SIVA may have with third parties concerning
property casualty, bodily injury or death to any employee, contractor, agent or representative of Operator Group. This indemnity
shall be limited to the extent necessary for compliance with applicable State and Federal laws.

 

STWA agrees to defend, indemnify and hold Operator,
its joint interest owners, their parent, .subsidiary and affiliate companies, its other contractors of every tier, agents, employees,
directors, officers, servants, invitees (the "Operator Group") harmless from and against any and all losses, claims,
demands, liabilities or causes of action of every kind and character, in favor of any person or party, for any STWA Group property
casualty, and for injury to or illness or death of any employee of STWA or any employee of STWA Group, which casualty, injury,
illness or death relates to, arises out of or is incident to the work or services performed by STWA under this Agreement, and regardless
of the cause of such casualty, injury, illness or death, even though caused in whole or in part by a pre-existing defect, Operator
Group's negligence or strict liability, or other legal fault of indernnitees, whether sole, joint or concurrent. STWA shall fully
defend any such claim demand or suit at its sole expense, even if the same is groundless. STWA 's indemnification of Operator Group
hereunder includes any contractual liability under indemnity agreements that Operator may have with third parties concerning property
casualty, bodily injury or death to any employee of STWA Group. This indemnity
shall be limited to the extent necessary for compliance with applicable State and Federal laws.

 

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8. Insurance Required.

 

A. Each of Operator and SWTA agrees to procure and maintain,
at its expense, during, the term of this Agreement, policies of insurance on the Upstream Equipment against fire, theft. destruction,
property damage, personal injury and general liability in amounts as agreed to by the Parties, with losses payable to either Operator
or STWA, as the case may be, with each Party being added as an additional insured with waiver of subrogation on the other's policy.

 

B.Prior to the commencement of any work
or services contemplated by this Agreement, the Parties shall furnish to one another certificates, in duplicate, on a form acceptable
to each of the Parties, signed by authorized representatives of the insurance companies providing the coverage, evidencing all
coverages, extensions and limits required to be carried by the Parties under the provisions of this Agreement. Upon request, the
Parties shall have the right to examine or inspect the originals or certified copies of said insurance policies in the offices
of each other during its normal business hours.

 

C.Failure to secure the insurance coverages,
or the failure to comply dilly with any of the insurance provisions of this Agreement, or the failure to secure such endorsements
on the policies as may be necessary to carry out the terms and provisions of this Agreement, shall in no way act to relieve the
Parties front their obligations of this Agreement, any provisions hereof to the contrary notwithstanding. in the event that liability
for any loss or damage be denied by the underwriter or underwriters, in or in part, because of breach of said insurance by the
Parties, or for any other reason, or if the Parties fail to maintain any of the insurance herein required, the Parties shall hold
one another harmless, defend and indemnify one another, their joint interest owners, their subsidiary and affiliate companies,
their agents, employees, directors, officers, servants and insurers against all claims, demands, costs and expenses, including
attorney's fees, which would otherwise be covered by said insurance, Notwithstanding anything to the contrary herein, the Parties'
indemnification obligations under this Agreement (express or implied) shall not be limited in amount or in scope to coverage provided
by insurance which is required of the Parties under the terms hereof.

 

9. Return Condition.

 

Upon expiration of the Term or sooner termination
under the terms of this Agreement, SWTA shall pick up , at STWA's expense and risk, the Upstream Equipment and any parts, additions
or Improvements made thereon or thereto, from Operator at Operator's worksite or well.. On return to STWA, the Upstream Equipment
and any parts, additions or Improvements made thereon or thereto shall be operational and in good working order and repair, except
for ordinary wear and tear.

 

10. Governing Law/Dispute Resolution.

 

This Agreement shall be exclusively
construed in accordance with the internal laws of the state of Texas, excluding its conflict of laws rules. All
controversies, claims or disputes arising, out of. in connection with, or relating to this Agreement shall be finally settled
by arbitration. The arbitration shall be held in Harris County, Texas in accordance with the then current Commercial
Arbitration Rules of the American Arbitration Association. The arbitration shall be conducted before one arbitrator who shall
have prior experience in arbitrating commercial disputes. The arbitrator shall be selected by mutual consent of the Parties.
if the Parties are unable to agree on the selection of the arbitrator within thirty (30) days, the American Arbitration
Association shall select the arbitrator. In the event of a dispute arising under this Agreement, the prevailing Party shall
be entitled to collect attorneys' fees and costs in addition to any other remedy, including, without limitation, injunctive
relief, awarded by the arbitrator.

    	5

    	 

    

 

11.  Assignment.

 

This Agreement is entered into for the benefit
of the Parties, their successors and assigns. Neither Party may assign its rights hereunder without the prior written consent of
the other Party.

 

12. Modification.

 

This Agreement shall
not be amended, modified, released, discharged, abandoned or otherwise terminated prior to expiration, in whole or in part,
except by written agreement signed by the Parties hereto.

 

13. Severability.
In the event that any provision, or any portion thereof, of this Agreement is determined by competent judicial, legislative, administrative
or arbitrator authority to be prohibited by law, then such provision or part thereof' shall be ineffective only to the extent of
such prohibition, without invalidating the remaining provisions of the Agreement.

 

14. Notices.

 

Notices under this Agreement by either party
shall be in writing and will be sufficiently made or given if sent by certified or registered mail, return receipt requested, courier
or by facsimile, and shall be deemed given upon delivery by courier, five (5) days after deposit in the mail, or upon receipt of
facsimile transmission. Notices shall be sent to the signatory of this Agreement or an authorized officer at the address set forth
in 'the signature blocks of this Agreement or at such other addresses either Party may specify in writing.

 

15.  Entire Agreement.

 

This Agreement contains the full and complete
understanding of the Parties with respect to the subject matter hereof, and supersedes all prior agreements, representations
and understandings, whether oral or written.

 

16. Costs and Expenses.

 

The Parties confirm
that each Party will be solely responsible for the costs and expenses incurred by it in connection with documentation and execution
or this Agreement and the transactions contemplated herein.

    	6

    	 

    

 

17.
Authority.

 

As the case may be, each of the undersigned
has been duly authorized and empowered to execute this Agreement, and the signatures of each of the undersigned is binding upon
the entity foe which the undersigned has executed this Agreement.

 

18.Counterparts.

 

This Agreement may be executed in two (2) counterparts,
each of which will he deemed to be an original copy of this agreement and all of which, when taken together, will be deemed to
constitute one and the same agreement. The Parties hereto may execute this Agreement by facsimile delivery of manually signed
copies or by the electronic delivery of copies bearing an electronic facsimile signature.

 

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

 

 

 

    	7

    	 

    

 

 

EXHIBIT
"A"

MINIMUM INSURANCE COVERAGES TO BE

MAINTAINED BY THE STWA AND OPERATOR

 

PART 1

STWA and Operator shall each, during the progress
of the work, carry, at its own respective expense, on forms and in reliable insurance companies acceptable to the other party,
and authorized to do business in the state or area in which the work is to be performed hereunder, the following minimum insurance
coverages to the extent of its liabilities under this Agreement:

 

A.Commercial General Liability Insurance,
written on an Occurrence Basis, with a limit of $1,000,000 each occurrence Bodily Injury and Property Damage, combined, including
the following coverages;

1.Independent Contractor's Coverage

2.Contractual Liability covering liabilities assumed under this
Agreement

3.Products and Completed Operations Coverage

4.Separation of Insureds (Severability of Interest)

5.Coverage provided for "Action Over Indemnity" claims

6.Stop Gap Employer's Liability where applicable

 

B.Workers' Compensation Insurance and Occupational Disease Insurance
in accordance with statutory requirements of the state in which work is being performed including Employer's Liability Insurance
with limits of not less than $1,000,000 covering location of all work places involved in this Agreement. This coverage shall include:

1.Alternate Employer/Borrowed
Servant endorsement

2.Stop Gap Employer's Liability where applicable

 

B.Business Automobile Insurance providing Bodily Injury and
Property Damage, covering all hired and non-owned vehicles, with a limit of not less than $1,000,000 each occurrence Bodily Injury
and Property Damage combined, and including contractual liability.

 

PART 2

For STWA's Insurance Agreements:

I.All of the above described insurance
policies shall contain provisions that the insurance companies will have no right of recovery or subrogation against Operator,
its divisions, affiliates, subsidiary companies, co-lessees, or co-venturers, agents, directors, officers, employees, servants,
and insurers, it being the intention of the parties that the insurance so effected shall protect all parties, and the STWA's insurance
carrier shall be primarily liable for any and all losses covered by the described insurance.

 

II.Operator, its divisions, affiliates,
subsidiary companies, co- lessees, or co-venturers, agents, directors, officers, employees, and servants shall be named as an additional
insured in each of STWA's insurance policies, except statutory workers' compensation.

    	8

    	 

    

 

 

III. Any and all deductibles in the above described insurance policies shall be assumed by, for the account of and at STWA's sole risk.

 

IV.All policies providing coverage hereunder shall contain provisions
that no cancellation or material changes in the policies shall become effective except on thirty (30) clays' written notice thereof
to Operator at: Newfield Exploration Company, 4 Waterway Square Place, Suite 100, The Woodlands, TX 77380, ATTN: MSA Contract Administration.
STWA shall not cancel or make any material change in any such policies without the prior written consent of Operator.

 

V. When requested by Operator, STWA shall furnish,
or cause to be furnished to Operator, in the manner above provided, certificates of insurance coverage for each subcontractor in
minimum amount deemed necessary by STWA to cover the work of the particular subcontractor. Should insurance coverage maintained
by a subcontractor be less than the minimum requirements for STWA, as set out above, Operator may, at its option (I) require STWA
to secure such minimum coverage, or (2) purchase insurance necessary to provide such minimum coverage and charge the premiums therefore
to STWA's account.

 

VI.STWA
shall furnish Certificates of Insurance acceptable to Operator evidencing the insurance required hereunder and at each anniversary
of coverage thereafter. Should any or the above described policies be cancelled before the expiration date thereof, notice will
be delivered in accordance with the policy provisions.

 

All Certificates of Insurance must contain
reference to endorsements (i.e. Additional Insured, Waiver of Subrogation, etc.) as required herein.

 

    	9

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