Document:

EX-10.2

 Exhibit 10.2 

July 15, 2016 
 FROM: The
Agent and the Required Lenders 
  

	TO:	C&J Energy Services Ltd. and the undersigned Loan Parties 

 3990 Rogerdale 

Houston, TX 77042 

Attn: Danielle Hunter 
  

	Re:	Amendment and Extension of Forbearance Period Under Second Forbearance 

 Ladies and Gentlemen: 

This letter agreement (this “Agreement”) is made with respect to that certain Second Forbearance Agreement, dated as of June
30, 2016, entered into by and between C&J Energy Services Ltd. (“Parent”), CJ Lux Holdings S.à r.l., a Luxembourg private limited liability company (société à responsabilité limitée),
having its registered office at 15, rue Edward Steichen, L-2540 Luxembourg, having a share capital of $2,000,000 and registered with the Luxembourg Register of Commerce and Companies under number B190.857 (“Luxembourg Borrower”), CJ
Holding Co. (“U.S. Borrower” and, together with Parent and Luxembourg Borrower, the “Borrowers”), certain other Loan Parties identified on the signature pages thereto, Cortland Capital Market Services LLC, in
its capacity as successor Administrative Agent to Bank of America, N.A. under the Credit Agreement (as defined herein) (in such capacity, the “Agent”) and the lenders appearing on the signature pages thereto (as amended, modified,
supplemented or replaced from time to time, the “Second Forbearance”).1 

Pursuant to Section 3(b) of the Second Forbearance, the Forbearance Period shall terminate immediately and automatically upon the
earliest to occur of (i) July 17, 2016, at 11:59 p.m. New York time and (ii) the occurrence of a Forbearance Termination Event. 

The Loan Parties, the Agent and the Required Lenders desire to enter into this Agreement to extend the date by which the Forbearance Period
shall terminate to the earliest of (i) July 20, 2016 at 11:59 p.m. New York time and (ii) the occurrence of a Forbearance Termination Event. 

Now, therefore, in consideration of the mutual agreements contained herein and other good and valuable consideration, the sufficiency and
receipt of which are hereby acknowledged, and subject to the conditions set forth herein, the parties hereto hereby agree that Section 3(b) of the Second Forbearance shall be amended to replace the words “July 17, 2016, at 11:59 p.m. New York
time” with “July 20, 2016 at 11:59 p.m. New York time”. 
 Except as otherwise provided herein, all of the terms of the First
Limited Waiver, First Forbearance and Second Forbearance shall continue in full force and effect. This Agreement shall be deemed to be a Loan Document. 
  

 

	1 	Capitalized terms used in this Agreement and not defined herein shall have the meanings ascribed thereto in the Second Forbearance. 

 This Agreement may be executed in multiple counterparts. It shall not be necessary that the
signature of, or on behalf of, each party, or that the signature of all persons required to bind any party, appear on each counterpart. All counterparts shall collectively constitute a single document. Any signature page to any counterpart
may be detached from such counterpart without impairing the legal effect of the signatures thereon and thereafter attached to another counterpart identical thereto except having attached to it additional signature pages. 

Please acknowledge your agreement with the terms hereof by executing this Agreement in the spaces provided below.

[Remainder of page intentionally left blank] 

 
			
	Very truly yours,
	
	CORTLAND CAPITAL MARKET SERVICES LLC, as Agent and on behalf of the Consenting Lenders
		
	By:	 	 /s/ Polina Arsentyeva

	Name:	 	Polina Arsentyeva
	Title:	 	Associate Counsel

 
					
	Acknowledged and Agreed:
	
	C&J ENERGY PRODUCTION SERVICES-CANADA LTD. (formerly Nabors Production Services Ltd.)
	C&J ENERGY SERVICES LTD.
	C&J ENERGY SERVICES, INC.
	C&J SPEC-RENT SERVICES, INC.
	C&J WELL SERVICES, INC. (formerly Nabors Completion & Production Services Co.)
	CJ HOLDING CO.
		
	By:	 	 /s/ Danielle Hunter

		 	Name:	 	Danielle Hunter
		 	Title:	 	Executive Vice President, General Counsel, Chief Risk Officer
	
	BLUE RIBBON TECHNOLOGY, INC.
	C&J VLC, LLC
	KVS TRANSPORTATION, INC.
	MOBILE DATA TECHNOLOGIES LTD.
	TOTAL E&S, INC.
		
	By:	 	 /s/ Danielle Hunter

		 	Name:	 	Danielle Hunter
		 	Title:	 	Executive Vice President, General Counsel, Chief Risk Officer
	
	ESP COMPLETION TECHNOLOGIES LLC
	TELLUS OILFIELD INC.
	TIGER CASED HOLE SERVICES, INC.
		
	By:	 	 /s/ Danielle Hunter

		 	Name:	 	Danielle Hunter
		 	Title:	 	Executive Vice President, General Counsel, Chief Risk Officer

 
					
	C&J CORPORATE SERVICES (BERMUDA) LTD.
		
	By:	 	 /s/ Danielle Hunter

		 	Name:	 	Danielle Hunter
		 	Title:	 	Director
	
	CJ LUX HOLDINGS S.À R.L.
	PENNY GLOBAL HOLDINGS S.À R.L.
	PENNY GLOBAL LEASING S.À R.L.
	PENNY LUXEMBOURG FINANCING S.À R.L.
	PENNY TECHNOLOGIES S.À R.L.
		
	By:	 	 /s/ Danielle Hunter

		 	Name:	 	Danielle Hunter
		 	Title:	 	Type A Manager
		
		 	COPPER IRELAND FINANCING I LTD.
		 	COPPER IRELAND FINANCING II LTD.
		
	By:	 	 /s/ Danielle Hunter

		 	Name:	 	Danielle Hunter
		 	Title:	 	Director
		
		 	C&J INTERNATIONAL B.V.
		
	By:	 	 /s/ Danielle Hunter

		 	Name:	 	Danielle Hunter
		 	Title:	 	Managing Director A
		
		 	C&J INTERNATIONAL MIDDLE EAST FZCO
		
	By:	 	 /s/ Angus Fraser

		 	Name:	 	Angus Fraser
		 	Title:	 	General ManagerExhibit 10.1

 

 

	Aceto Corporation	 
	4 Tri Harbor Court	 
	Port Washington, NY 11050	Salvatore J. Guccione
	Tel: (516) 478-9518	President & Chief Executive Officer
	Fax: (516) 478-9818	 
	www.aceto.com	 

 

April 14, 2016

 

Mr. Walter J. Kaczmarek III

22 Ladue Court

St. Louis, Missouri 63141

 

Dear Walt:

 

I am very pleased to extend this offer
to you on behalf of Aceto Corporation (the “Company”), on the terms described below.

 

1.           Title
and Date of Employment. Your title will be Chief Operating Officer. You will report directly to me in my capacity as Chief
Executive Officer of the Company. Your starting date will be on or before August 1, 2016.

 

2.           Compensation.
Your starting annual base salary (“Base Salary”) will be at the rate of four hundred seventy five thousand dollars
($475,000.00) gross per annum ($18,269.23 bi-weekly), less applicable taxes and withholdings, paid in accordance with the Company’s
normal payroll practices. You will also be eligible to participate in the Company’s Performance Award program with all awards
subject to Board of Directors (“Board”) approval. Your Performance Award target will be 60% of your base salary, prorated
based on hire date for Fiscal Year 2017 and payable according to the Company’s Performance Award Program. The Performance
Award is based on the Company’s performance as well as your individual performance for the relevant year.

 

3.           Long
Term Incentive Compensation. The Compensation Committee of the Board (“Compensation Committee”) has approved
that you be granted the following award (assuming a start date of August 1, 2016) for Fiscal Year 2017 subject to the model, metrics,
and vesting schedule applicable to all executives:

 

		§	15,000 Time-vested restricted stock awards

		§	15,000 Performance-vested restricted stock units

 

Such award will be prorated should your
start date be post August 1, 2016.

 

Future annual equity grants will be awarded,
with due regard to your position, at such time as grants are generally made to other senior executives of the Company, the amount
and term of such grants, if any, being at the sole discretion of the Board.

 

     

     

    

 

 

	Aceto Corporation	 
	4 Tri Harbor Court	 
	Port Washington, NY 11050	Salvatore J. Guccione
	Tel: (516) 478-9518	President & Chief Executive Officer
	Fax: (516) 478-9818	 
	www.aceto.com	 

 

4.           Inducement
Grant. As a result of forfeiture for lost opportunities with your current employer, the Company will award you an inducement
grant of cash and equity.

 

(a) Equity: Using the current vesting
schedule (1/3, 1/3, 1/3 over three years) and rules applicable to the Aceto Long Term Incentive Compensation Plan, the inducement
grant will consist of the following:

 

		§	40,000 Time-vested restricted stock awards

 

(b) Cash: The cash portion of the
inducement grant shall include one hundred thousand dollars ($100,000.00), less statutory taxes, payable with the first payroll
following your initial week of employment with the Company. An additional fifty thousand dollars ($50,000.00), less statutory taxes,
will be paid through payroll upon proof of your permanent relocation to the New York/New Jersey area.

 

5.         Benefits.

 

		(a)	Benefits. You will be eligible to participate
in the benefit package available to Company executives upon satisfying eligibility conditions, including health insurance benefits,
life insurance, 401(k) plan, Supplemental Executive Retirement Plan (SERP), and Flexible Spending Plan. Please refer to the benefit
plan documents for eligibility.

 

		(b)	Paid Time Off. You will be entitled to four (4)
weeks of vacation per year in accordance with the Company’s vacation policy, including as to usage and carryover. In addition,
the Company currently provides eligible employees with ten (10) paid holidays, five (5) personal days, and ten (10) sick days
per calendar year.

 

		(c)	Company Auto. You will be eligible for a company
automobile which allows for a 24-39 month lease up to a maximum of $925.00 per month. Please refer to the Company Automobile Policy.

 

		(d)	Air Travel. International travel will be in Business
Class. Domestic travel will be in Business Class, if available. If not available, then domestic travel will be First Class.

 

     

     

    

 

 

	Aceto Corporation	 
	4 Tri Harbor Court	 
	Port Washington, NY 11050	Salvatore J. Guccione
	Tel: (516) 478-9518	President & Chief Executive Officer
	Fax: (516) 478-9818	 
	www.aceto.com	 

 

6.           Termination
of Employment. Should the Company terminate your employment with the Company for any reason other than a “for Cause”
termination, the Company shall pay you your Base Salary, at the rate then in effect, for the fifteen (15) month period following
the date of termination. This payment is subject to you signing a timely and effective Severance Agreement. Severance will be subject
to statutory taxes and withholdings, and shall be paid as salary continuation following the standard revocation period contained
in the Separation Agreement. In addition, and if you are a current participant at the time of separation in the Company’s
health plan, you will have the option of continuing health insurance coverage per COBRA guidelines. Any Severance payments will
be offset by any amounts earned by you through other Employment or consultancy during the Severance Period. For purposes of this
section “Cause” shall mean and be limited to: (i) the conviction of the Executive for committing an act of fraud,
embezzlement, theft or other act constituting a felony, or the guilty or nolo contendere plea of the Executive to
such a felony; (ii) fraud, embezzlement, theft or other misappropriation by the Executive of funds or property of the Company or
any of its subsidiaries; (iii) material neglect, or refusal by the Executive to discharge, perform or observe the Executive’s
job duties and responsibilities, provided the Executive has been given written notice of such neglect or refusal, and has not cured
such neglect or refusal within ten (10) business days thereafter; or (iv) a material breach of the Executive’s obligations.

 

7.           Relocation. This offer
is being made to you based upon your agreement to relocate to the New York/New Jersey area where you will be working from the Port
Washington, NY Headquarters and Rising Pharmaceutical’s New Jersey offices. Details of the relocation package are enclosed
with this offer.

 

8.          Confidential Information
and Non-Competition. You acknowledge that in the
course of your employment you will have access on a continual basis to confidential and proprietary information concerning
the Company and its subsidiaries and affiliates (collectively, “Aceto”), which is not readily available to
the public. Based on their function, employees are required to read and sign a Confidentiality and Non-Competition Agreement
prior to beginning employment. Please refer to Schedule I for further details pertaining to Confidential Information and
Non-Competition and return a signed original of said Agreement to the attention of Charles J. Alaimo at the time the
Employment Offer letter is signed.

 

9.          Change In Control.
The Board has determined that it is in the best interests of the Company and its shareholders to provide enhanced severance protections
to Executives following a Change in Control of the Company subject to certain terms and conditions of the Agreement which can be
found in Schedule II.

 

10.        Pre-employment Requirement.
This employment offer is contingent upon: a) the successful completion of a verification of background check and satisfactory references
(Sue Garfinkel, Aceto’s Human Resources Manager, will contact you regarding instructions); and b) your compliance with the
requirements of the November 2013 Non-Competition, Non-Solicitation, and Confidentiality Agreement between Mallinckrodt and you,
in a manner satisfactory to you and the Company.

 

     

     

    

 

 

	Aceto Corporation	 
	4 Tri Harbor Court	 
	Port Washington, NY 11050	Salvatore J. Guccione
	Tel: (516) 478-9518	President & Chief Executive Officer
	Fax: (516) 478-9818	 
	www.aceto.com	 

 

11.         Employment-at-Will.
This Offer of Employment letter does not constitute a contract of employment for any specific period of time, but will create an
employment-at-will relationship that may be terminated at any time by you or the Company, with or without Cause and with or without
advance notice, provide that you shall give the Company at least thirty (30) days’ written notice of any voluntary resignation.
The at-will nature of the employment relationship may not be modified or amended except by Board approval.

 

12.         Company
Policies. You acknowledge and will adhere to the Company’s rules and other policies, including its Code of Business
Conduct and Ethics, which are set forth in its “Employment Manual” to be issued to you, which may from time to time
be revised.

 

I look forward to you joining us at Aceto
and I am certain that you will have a very positive impact on our Company. To repeat what Al Eilender and I have previously indicated
to you, all aspects of this offer have been approved by our Compensation Committee. If you have any questions or need further information,
please do not hesitate to contact me at 516-478-9518 or Charles J. Alaimo at 516-478-9560.

 

Please signify your acceptance of the Company’s offer
by returning a signed copy of this Letter and the related Schedules to Charles no later than Friday, April 22, 2016.

 

Very truly yours,

 

		 
	 	 
	Salvatore J. Guccione
	President and Chief Executive Officer

 

	ACCEPTED BY:	 	 
	 	 	 
	/s/ Walter J. Kaczmarek III	 	4-14-2016
	Walter J. Kaczmarek III	 	Date

 

     

     

    

 

 

	Aceto Corporation	 
	4 Tri Harbor Court	 
	Port Washington, NY 11050	Salvatore J. Guccione
	Tel: (516) 478-9518	President & Chief Executive Officer
	Fax: (516) 478-9818	 
	www.aceto.com	 

 

Please email signed Letter
to the CONFIDENTIAL ATTENTION of Charles J. Alaimo at calaimo@aceto.com and mail
original to Aceto Corporation, c/o Charles J. Alaimo, 4 Tri Harbor Court, Port Washington, NY 11050.

 

cc:           Al Eilender, Aceto

Charles Alaimo, Aceto

Carl Berke, Berke Executive Search

 

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