Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

THIRD AMENDMENT TO CREDIT AGREEMENT 

This THIRD AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into as of February 10, 2022 by SESI, L.L.C., a
limited liability company duly formed and existing under the laws of the State of Delaware (the “Borrower”), SESI Holdings, Inc., a corporation duly formed and existing under the laws of the State of Delaware (the
“Parent”), each of the undersigned Guarantors (together with the Borrower and Parent, the “Loan Parties”), each of the undersigned Lenders, each Issuing Lender and JPMORGAN CHASE BANK, N.A., as administrative agent
for the Lenders. 
 R E C I T A L S 

A. The Borrower, the Parent, the Administrative Agent, the Lenders and the Issuing Lenders are parties to that certain Credit Agreement, dated
as of February 2, 2021 (as (a) amended and waived by that certain First Amendment and Waiver to Credit Agreement, dated as of May 13, 2021, (b) waived by that certain Waiver to the Credit Agreement, dated May 28, 2021, (c) waived by that
certain Waiver to the Credit Agreement, dated as July 15, 2021, and (d) amended and waived by that certain Second Amendment and Waiver to Credit Agreement, dated as of November 15, 2021, the “Credit Agreement”), pursuant to
which the Lenders and Issuing Lenders have made certain credit available to and on behalf of the Borrower. 
 B. The Borrower has requested
that certain amendments and modifications be made to the 
 Credit Agreement. 

C. NOW, THEREFORE, to induce the Administrative Agent and the Lenders party hereto to enter into this Amendment and in consideration of the
premises and the mutual covenants herein contained, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

Section 1. Defined Terms. Each capitalized term used herein but not otherwise defined herein has the meaning given such term in
the Credit Agreement. Unless otherwise indicated, all article, exhibit, section and schedule references in this Amendment refer to articles, exhibits, sections and schedules of the Credit Agreement. 

Section 2. [Reserved]. 

Section 3. Amendments to Credit Agreement. 

3.1. Amendment to Section 6.13. 

(a) Section 6.13(a) is hereby amended by amending and restating clause (iii) in its entirety to read as follows 

(iii) Sales, transfers or other dispositions of Property that, together with all other Property of the Borrower and its
Subsidiaries previously sold, transferred or disposed of not otherwise permitted by this Section 6.13(a) during (A) with respect to sales, transfers and other dispositions that are consummated on or after January 1,
2022 and on or prior to December 31, 2022, the period beginning on January 1, 2022 and ending with the month in which any such sale, transfer or other disposition occurs or (B) with respect to sales, transfers and other dispositions that are
consummated on or after January 1, 2023, the twelve month period ending with the month in which any such sale, transfer or other disposition occurs, do not constitute a Substantial Portion of the Property of the Borrower and its Subsidiaries, taken
as a whole; provided, that 100% of the consideration received in respect of sales of Property included in the Borrowing Base shall be cash. 

 (b) Section 6.13(a) is hereby amended by amending and restating clause (vi) in its
entirety to read as follows: 
 (vi) If, on a pro forma basis immediately after giving effect thereto, (A) Liquidity is
greater than $100,000,000 and (B) Availability is greater than $25,000,000, dispositions not otherwise permitted by this Section 6.13(a) so long as the aggregate fair market value for all such Dispositions (as
determined by the Borrower in good faith at the time of the relevant disposition) of the assets disposed under this clause (vi) does not exceed $25,000,000; provided, that 100% of the consideration received in respect of sales of
Property included in the Borrowing Base shall be cash. 
 3.2. Amendment to Section 10.11. Section 10.11 is
hereby amended by adding the following new clause (e) immediately after clause (d): 
 (e) Any Lien on any Property
granted to or held by the Administrative Agent under any Collateral Document shall be automatically released (i) at the time the Property subject to such Lien is disposed or to be disposed as part of or in connection with any disposition
permitted hereunder or under any Collateral Document to any Person other than a Person required to grant a Lien to the Administrative Agent hereunder or under any Collateral Document, (ii) subject to Section 9.11, if
the release of such Lien is approved, authorized or ratified by the Required Lenders, or (iii) if the Property subject to such Lien is owned by a Guarantor, upon release of such Guarantor from its obligations under the Guarantee and Collateral
Agreement. 
 Section 4. [Reserved]. 

Section 5. Conditions Precedent. This Amendment shall be deemed effective upon the date on which each of the following conditions
is satisfied (or waived in accordance with Section 9.11) (such date, the “Third Amendment Effective Date”): 

5.1. Execution and Delivery. The Administrative Agent shall have received from the Loan Parties, each Issuing Lender and
the Lenders constituting the Required Lenders, counterparts (in such number as may be requested by the Administrative Agent) of this Amendment signed on behalf of such Person. 

5.2. Payment of Expenses. The Administrative Agent and the Lenders shall have received all amounts due and payable on or
prior to the Third Amendment Effective Date, including, to the extent invoiced at least one (1) Business Day prior to the Third Amendment Effective Date, reimbursement or payment of all documented out-of-pocket expenses required to be
reimbursed or paid by the Borrower under the Credit Agreement. 
 5.3.No Default or Event of Default. No Default or
Event of Default shall have occurred and be continuing as of the date hereof, after giving effect to the terms of this Amendment. 
 The
Administrative Agent is hereby authorized and directed to declare this Amendment to be effective when it has received documents confirming or certifying, to the satisfaction of the Administrative Agent, compliance with the conditions set forth in
this Section 5 or the waiver of such conditions as permitted by Section 9.11. Such declaration shall be final, conclusive and binding upon all parties to the Credit Agreement for all purposes. 

  
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 Section 6. Miscellaneous. 

6.1. Confirmation. The provisions of the Credit Agreement, as waived by this Amendment, shall remain in full force and effect following
the effectiveness of this Amendment. 
 6.2. Ratification and Affirmation; Representations and Warranties. Each Loan Party hereby
(a) acknowledges the terms of this Amendment; (b) ratifies and affirms its obligations under, and acknowledges, renews and extends its continued liability under, each Loan Document to which it is a party and agrees that each Loan Document
to which it is a party remains in full force and effect, except as expressly amended hereby, notwithstanding the amendments contained herein; and (c) represents and warrants to the Lenders that as of the date hereof, after giving effect to the
terms of this Amendment: (i) all of the representations and warranties contained in each Loan Document to which it is a party are true and correct in all material respects, except to the extent any such representations and warranties are stated
to relate solely to an earlier date, in which case, such representations and warranties shall have been true and correct in all material respects on and as of such earlier date (provided that such materiality qualifier shall not be applicable
to any representation or warranty that is already qualified or modified by materiality in the Credit Agreement) and (ii) no Default or Event of Default has occurred and is continuing. 

6.3. No Waiver; Loan Document. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided
herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. On and after the Third Amendment Effective
Date, this Amendment shall for all purposes constitute a Loan Document. 
 6.4. Counterparts. This Amendment may be executed by one or
more of the parties hereto in any number of separate counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment that
is an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record (an “Electronic Signature”)
transmitted by telecopy, emailed pdf or any other electronic means that reproduces an image of an actual executed signature page shall be effective as delivery of a manually executed counterpart of this Amendment. The words “execution,”
“signed,” “signature,” “delivery,” and words of like import in or relating to this Amendment shall be deemed to include Electronic Signatures, deliveries or the keeping of records in any electronic form (including
deliveries by telecopy, emailed pdf or any other electronic means that reproduces an image of an actual executed signature page), each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical
delivery thereof or the use of a paper-based recordkeeping system, as the case may be; provided that, without limiting the foregoing, upon the request of the Administrative Agent, any electronic signature shall be promptly followed by such manually
executed counterpart (in such number as may be reasonably requested by the Administrative Agent). 
 6.5. NO ORAL AGREEMENT. THIS
AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND THEREWITH REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR UNWRITTEN ORAL
AGREEMENTS OF THE PARTIES. AS OF THE DATE OF THIS AMENDMENT, THERE ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES. 
 6.6. GOVERNING LAW.
THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

  
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 6.7. Release of Claims. The Borrower, each Guarantor and the Parent, in consideration
of the Administrative Agent’s and the undersigned Lenders’ execution and delivery of this Amendment and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, unconditionally, freely,
voluntarily and, after consultation with counsel and becoming fully and adequately informed as to the relevant facts, circumstances and consequences, releases, waives and forever discharges (and further agrees not to allege, claim or pursue) any and
all claims, rights, causes of action, counterclaims or defenses of any kind whatsoever, in contract, in tort, in law or in equity, whether known or unknown, direct or derivative, which the Borrower, any Guarantor, the Parent or any predecessor,
successor or assign might otherwise have or may have (each, a “Claim”) against the Administrative Agent, the Lenders, their present or former subsidiaries and affiliates or any of the foregoing’s officers, directors, employees,
attorneys or other representatives or agents on account of any conduct, condition, act, omission, event, contract, liability, obligation, demand, covenant, promise, indebtedness, claim, right, cause of action, suit, damage, defense, circumstance or
matter of any kind whatsoever which existed, arose or occurred at any time prior to the date hereof relating to the Loan Documents, this Amendment and/or the transactions contemplated thereby or hereby, provided, the foregoing shall not apply to
Claims in respect of the gross negligence, bad faith or willful misconduct of any of the foregoing Persons. The foregoing release shall survive the termination of this Amendment and the Loan Documents. 

[SIGNATURES BEGIN NEXT PAGE] 

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

							
	BORROWER:	 		 		 	SESI, L.L.C.
				
		 		 	By·	 	 /s/ James W. Spexarth

		 		 	Name:	 	James W. Spexarth
		 		 	Title:	 	Vice President and Treasurer
				
	PARENT:	 		 		 	SESI HOLDINGS, INC.
				
		 		 	By:	 	 /s/ James W. Spexarth

		 		 	Name:	 	James W. Spexarth
		 		 	Title:	 	Vice President, Chief Financial Officer and Treasurer

  

							
	SUBSIDIARY GUARANTORS:	 		 	1105 PETERS ROAD, L.L.C.	 	            
		 		 	CONNECTION TECHNOLOGY, L.L.C. CSI TECHNOLOGIES, LLC
		 		 	H.B. RENTALS, L.C.	 	
		 		 	INTERNATIONAL SNUBBING SERVICES, L.L.C. PUMPCO ENERGY SERVICES, INC.	 	
		 		 	SPN WELL SERVICES, INC.	 	
		 		 	STABIL DRILL SPECIALTIES, L.L.C.	 	
		 		 	 SUPERIOR ENERGY SERVICES, L.L.C SUPERIOR ENERGY SERVICES-NORTH

        AMERICA SERVICES, INC.

		 	
		 		 	SUPERIOR INSPECTION SERVICES, L.L.C. WARRIOR ENERGY SERVICES CORPORATION WILD WELL CONTROL, INC.	 	
		 		 	WORKSTRINGS INTERNATIONAL, L.L.C.	 	

  

							
				
		 		 	By:	 	 /s/ James W. Spexarth

		 		 	Name:	 	James W. Spexarth
		 		 	Title:	 	Vice President and Treasurer

 Signature Page to Third Amendment to 

Credit Agreement 

							
	ADMINISTRATIVE AGENT AND LENDER:	 		 	JPMORGAN CHASE BANK, N.A.
				
		 		 	By:	 	 /s/ Umar Hassan

		 		 	Name:	 	Umar Hassan
		 		 	Title:	 	Authorized Officer

 Signature Page to Third Amendment to 

Credit Agreement 

							
	LENDER:	 		 	BANK OF AMERICA, N.A.
				
		 		 	By:	 	 /s/ Alexandra Mills

		 		 	Name:	 	Alexandra Mills
		 		 	Title:	 	Vice President

 Signature Page to Third Amendment to 

Credit Agreement 

							
	LENDER:	 		 	CITIBANK, N.A.
				
		 		 	By:	 	 /s/ Brendan Mackay

		 		 	Name:	 	Brendan Mackay
		 		 	 Title:
  
	 	 Vice President & Director
  

 Signature Page to Third Amendment to 

Credit AgreementEX-10.2

 Exhibit 10.2 

FIFTH AMENDMENT TO STOCKHOLDERS AGREEMENT 

OF 
 SUPERIOR ENERGY
SERVICES, INC. 
 THIS FIFTH AMENDMENT TO STOCKHOLDERS AGREEMENT, dated as of February 9, 2022 (this
“Amendment”), to that certain Stockholders Agreement, dated as of February 2, 2021 (as amended, the “Stockholders Agreement”), by and among Superior Energy Services, Inc., a Delaware corporation
(the “Company”), and the Stockholders (as defined therein), is made by and among the Company and the Stockholders party hereto but binding and effective against all Stockholders in accordance with the terms of the
Stockholders Agreement. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Stockholders Agreement. 

RECITALS 
 WHEREAS, the
Company and the Stockholders desire to amend the Stockholders Agreement; 
 WHEREAS, pursuant to Section 6.06 of
the Stockholders Agreement, no amendment or modification of the Stockholders Agreement is valid unless executed in writing by the Company and the Stockholders (together with their Related Persons) holding at least a majority of the Aggregate Common
Stock; 
 WHEREAS, the undersigned Stockholders constitute Stockholders (together with their Related Persons) holding at least a majority of
the Aggregate Common Stock; and 
 WHEREAS, this Amendment does not adversely affect any Stockholder in a manner disproportionate to the
manner in which it affects other Stockholders. 
 NOW, THEREFORE, the Stockholders Agreement is amended as hereinafter set forth: 

1. AMENDMENT TO STOCKHOLDERS AGREEMENT. 

Section 2.07 shall be amended by adding the following after clause (r): 

For purposes of this Section 2.07, “prior approval of the Board of Directors” shall have been obtained (or deemed to have been
obtained) with respect to any matter or action requiring such prior approval under this Section 2.07 if an officer of the Corporation or its Subsidiaries or other authorized agent has been granted authority to approve such matter or take such
action, as the case may be, without further approval of the Board of Directors pursuant to a Delegation of Authority matrix approved by the Board of Directors, including the Delegation of Authority matrix approved by the Board of Directors on
January 26, 2022. 
 2. MISCELLANEOUS PROVISIONS. 

(a) Ratification. Except as expressly modified or amended by this Amendment, all of the provisions of the Stockholders Agreement shall
remain unmodified and in full force and effect. 

 (b) Entire Agreement. This Amendment, the Stockholders Agreement, the other
Organizational Documents, the Plan of Reorganization and any other documents expressly referred 
 to herein, in the Stockholders Agreement or in the Plan
of Reorganization embody the complete agreement and understanding among the Parties and supersede and preempt any prior understandings, agreements or representations by or among the Parties, written or oral, which may have related to the subject
matter hereof in any way. 
 (c) Severability. Whenever possible, each provision of this Amendment will be interpreted in such manner
as to be effective and valid under applicable Law, but if any provision of this Amendment is held to be invalid, illegal or unenforceable in any respect under any applicable Law or rule in any jurisdiction, such invalidity, illegality or
unenforceability will not affect any other provision or the effectiveness or validity of any provision in any other jurisdiction, and this Amendment will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or
unenforceable provision had never been contained herein. 
 (d) Governing Law. This Amendment and any claim, controversy or dispute
arising under or related to this Amendment shall be governed by, and construed in accordance with, the laws of the State of Delaware, without regard to the conflicts of laws rules of such state. 

(e) Delivery by Electronic Transmission. This Amendment and any signed agreement or instrument entered into in connection with this
Amendment or contemplated hereby, and any amendments hereto or thereto, to the extent signed and delivered by means of an electronic transmission, including by a facsimile machine or via email, shall be treated in all manner and respects as an
original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. No Party to any such agreement or instrument shall raise the use of electronic
transmission by a facsimile machine or via email to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through such electronic transmission as a defense to the formation of a contract and
each such Party forever waives any such defense. 
 (f) Further Action. The Parties shall execute and deliver all documents,
provide all information and take or refrain from taking such actions as may be necessary or appropriate to achieve the purposes of this Amendment. 

[SIGNATURE PAGES FOLLOW] 

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

			
	 COMPANY:

	
	 Superior Energy Services, Inc.

		
	By:	 	/s/James Spexarth
	Name:	 	James Spexarth
	Title:	 	Chief Financial Officer
	
	 GOLDENTREE STOCKHOLDERS:

	
	 [*redacted*]

	
	 MONARCH STOCKHOLDERS:

	
	 [*redacted*]

	
	 MADISON AVENUE STOCKHOLDERS:

	
	 [*redacted*]

 [Signature Page to Fifth Amendment to Stockholders Agreement]

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