Document:

exv4w2

 

EXHIBIT 4.2

SUPPLEMENTAL INDENTURE

     SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of September
13, 2007, but effective as of August 29, 2007, among Advanced Oilwell Services, Inc. (the
“Guaranteeing Subsidiary”), a subsidiary of SESI, L.L.C., a Delaware limited
liability company (the “Company”), the Company, the other Guarantors (as defined in the
Indenture referred to herein) and The Bank of New York Trust Company, N.A., as trustee under the
Indenture referred to below (the “Trustee”).

WITNESSETH

     WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture, dated
as of December 12, 2006 (the “Indenture”), providing for the issuance of 1.50% Senior
Exchangeable Notes due 2026 (the “Securities”);

     WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary
shall execute and deliver to the Trustee a supplemental indenture pursuant to which the
Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s Obligations under the
Securities and the Indenture on the terms and conditions set forth herein (the
“Guarantee”); and

     WHEREAS, pursuant to Section 3.09 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 Guaranteeing Subsidiary and the
Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the
Securities as follows:

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

     2. Agreement to Guarantee. The Guaranteeing Subsidiary hereby agrees to provide an
unconditional Guarantee on the terms and subject to the conditions set forth in the Guarantee and
in the Indenture including but not limited to Article 13 thereof.

     3. No Recourse Against Others. No past, present or future director, officer, employee,
incorporator, stockholder or agent of the Guaranteeing Subsidiary (other than the Company or a
Guarantor in its capacity as a stockholder of a Subsidiary), as such, shall have any liability for
any obligations of the Company or any Guaranteeing Subsidiary under the Securities, any Guarantees,
the Indenture or this Supplemental Indenture or for any claim based on, in respect of or by reason
of, such obligations or their creation. Each Holder of the Securities by accepting a Security
waives and releases all such liability. The waiver and release are part of the consideration for
issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal
securities laws and it is the view of the SEC that such a waiver is against public policy.

 

 

     4. New York Law to Govern. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED
TO CONSTRUE THIS SUPPLEMENTAL INDENTURE.

     5. Counterparts. 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.

     6. Effect of Headings. The Section headings herein are for convenience only and shall not
affect the construction hereof.

     7. 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 Guaranteeing Subsidiary and
the Company.

[Signature pages follow.]

 

 

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

	 	 	 	 	 
	 	ADVANCED OILWELL SERVICES, INC. 

 	 
	 	By:  	/s/ Robert S. Taylor
 	 
	 	 	Name:  	Robert S. Taylor                                                         	 
	 	 	Title:  	Vice President and Treasurer 	 
	 	 	 	 
	 
	 	SESI, L.L.C. 

 	 
	 	By:  	SUPERIOR ENERGY SERVICES, INC.,
 	 
	 	 	its Managing Member                                                             	 
	 	 	 
	 	By:  	/s/ Robert S. Taylor
 	 
	 	 	Name:  	Robert S. Taylor 	 
	 	 	Title:  	Executive Vice President and
Chief Financial Officer 	 
	 
	 
	 	SUPERIOR ENERGY SERVICES, INC. 

 	 
	 	By:  	/s/ Robert S. Taylor
 	 
	 	 	Name:  	Robert S. Taylor                                                          	 
	 	 	Title:  	Executive Vice President and
Chief Financial Officer 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	1105 PETERS ROAD, L.LC 

BLOWOUT TOOLS, INC. 

CONCENTRIC PIPE AND TOOL RENTALS, L.L.C 

CONNECTION TECHNOLOGY, L.L.C. 

CSI TECHNOLOGIES, LLC 

DRILLING LOGISTICS, L.L.C 

F & F WIRELINE SERVICES, L.L.C. 

FASTORQ, L.L.C. 

H.B. RENTALS, L.C. 

INTERNATIONAL SNUBBING SERVICES, L.L.C 

J.R.B. CONSULTANTS, INC. 

NON-MAGNETIC RENTAL TOOLS, L.L.C. 

PROACTIVE COMPLIANCE, L.L.C. 

PRODUCTION MANAGEMENT INDUSTRIES, L.L.C. 

SEGEN LLC 

SELIM LLC 

SEMO, L.L.C. 

SEMSE, L.L.C. 

SPN RESOURCES, LLC 

STABIL DRILL SPECIALTIES, L.L.C. 

SUB-SURFACE TOOLS, L.L.C. 

SUPERIOR CANADA HOLDINGS, INC. 

SUPERIOR ENERGY SERVICES, L.L.C. 

SUPERIOR INSPECTION SERVICES, INC. 

UNIVERSAL FISHING AND RENTAL TOOLS, INC. 

WARRIOR ENERGY SERVICES CORPORATION 

WILD WELL CONTROL, INC. 

WORKSTRINGS, L.L.C. 

 	 
	 	By:  	/s/ Robert S. Taylor
 	 
	 	 	Name:  	Robert S. Taylor                  	 
	 	 	Title:  	Authorized Representative 	 
	 
	 
	 	SE FINANCE L.P. 

 	 
	 	By:  	SEGEN, L.L.C., as general partner
 	 
	 	 	 	 
	 	By:  	/s/ Robert S. Taylor
 	 
	 	 	Name:  	Robert S. Taylor                  	 
	 	 	Title:  	Authorized Representative 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	THE BANK OF NEW YORK TRUST COMPANY, 

as Trustee 

 	 
	 	By:  	/s/
Christie Leppert	 
	 	 	Name:  	Christie Leppert	 
	 	 	Title:  	Assistant Vice Presidentexv10w8

 

Exhibit 10.8

IDLEAIRE TECHNOLOGIES CORPORATION

AMENDED AND RESTATED 2000 STOCK OPTION PLAN

     1.     Authority to Grant Options. The Stock Option Committee (hereinafter defined) may
from time to time in its discretion grant to Eligible Employees options to purchase shares of the
Common Stock of IdleAire Technologies Corporation (the “Corporation”) (hereinafter referred to as
an “Option”) on the terms and subject to the conditions hereinafter provided (the “Plan”). The
aggregate number of shares which may be issued pursuant to the exercise of the Options granted
under this Plan shall not exceed 10,000,000 shares in the aggregate, subject, however, to the
provisions or paragraph 7 and 8 hereof. The shares shall be made available from authorized and
unissued Common Stock or from Common Stock issued and held in the treasury of the Corporation, as
shall be determined by the Board of Directors.

     2.     Administration. This Plan shall be administered by a Stock Option Committee
(“Committee”) consisting of not less than three members of the Board of Directors. The Committee
shall be elected by and shall serve at the pleasure of the Board of Directors of the Corporation.
The Committee shall have full power and authority to construe, interpret and administer this Plan
and to make determinations which shall be final, conclusive and binding upon all persons including,
without limitation, the Corporation, the stockholders, the directors and any persons having an
interest in any Option which may be granted under this Plan. By the adoption of a resolution or
resolutions the Committee may: (a) provide for the creation and issue of an Option; (b) determine
whether an Option granted pursuant to this Plan shall be an “Incentive Stock Option”, within the
meaning of the Internal Revenue Code, or an Option which is not an incentive stock option (a
“non-qualified option”); (c) fix the terms upon which, the time or time at or within which, and the
price or prices at which any such shares may be purchased from the Corporation upon the exercise of
an Option, which terms, time or times and price or prices shall, in every case, be set forth or
incorporated by reference in the applicable Stock Option Agreement.

     3.     Eligibility. Key employees of the Corporation and its subsidiaries (as defined in
Section 424(f) of the Internal Revenue Code of 1986, as amended), including officers, whether or
not directors of the Corporation, shall be eligible to participate in this Plan and are referred to
herein as “Eligible Employees.” Directors who are not employees shall not be eligible to
participate in this Plan.

     4.     Allotment of Shares. Options shall be allotted to such Eligible Employees, and in
such amounts, as the Committee, in its discretion, may from time to time determine provided,
however, that the aggregate fair market value of shares which may be issued to any one Eligible
Employee pursuant to any one or more Incentive Stock Options that are exercisable for the first
time in any calendar year by any individual shall not exceed $100,000.00.

     5.     Term of Plan. No Option shall be granted or amended pursuant to this Plan after 10
years from the date of adoption of the Plan by the Corporation, but Options granted before such date may extend beyond that date
and the terms of this Plan shall continue to apply to such Options and to the shares acquired by exercise of such Option.

 

 

     6.     Terms and Conditions of Options. Each Option granted under this Plan shall be
subject to the following terms and conditions:

             (a)     Option Price. The Option price per share with respect to any Incentive Stock Option shall
be determined by the Committee, but in no event shall be less than the fair market value of the
common stock of the Corporation on the date such Option is granted. For an Eligible Employee
owning more than ten percent (10%) of the total combined voting power of all classes of stock of
the Corporation or its parent or subsidiary on the date an Incentive Stock Option is granted, the
Option per share shall not be less than 110% of the fair market value of such shares on the date
the incentive stock option is granted. The Committee shall set the price of any non-qualified
stock Option on the date such Option is granted at its sole discretion.

             (b)     Period of Option. (1) The exercise period of an Option shall not exceed ten (10) years
from the date the Option is granted; (2) however, the exercise period of an Incentive Stock Option
for an Eligible Employee owning more than ten percent (10%) of the total combined voting power of
all classes of stock of the Corporation or its parent or subsidiary shall not excess five years
from the date the Option is granted.

             (c)     Offset Provisions. If the Committee so determines and the applicable Stock Option
Agreement so provides, the exercise of all or any part of an Option granted under this Plan by an
Eligible Employee may result in the reduction or termination of another Option granted under this
Plan to such Eligible Employee to the extent so determined and provided.

             (d)     Payment. Payment for shares purchased upon exercise of an Option shall be made either in
full or installments, as shall be determined by the Committee and provided in the applicable Stock
Option Agreement. Certificates for partly paid shares that result from the exercise of an Option
shall be registered in the name of the Option holder and shall, immediately upon issue, be
delivered to the Corporation, endorsed in blank by the Option holder or accompanied by a separate
stock power so endorsed, in pledge as security for the payment of the unpaid balance of the Option
price. The certificates issued to represent partly paid shares shall state thereon the total
amount of the consideration to be paid therefore and the amount paid thereon. The holder of an
Option shall, as such, have none of the rights of a stockholder and the certificate representing
the shares being purchased pursuant to the exercise of an Option shall not be delivered until the
purchase price (including taxes) for such shares has been paid in full.

             (e)     Dividends. Dividends on partly paid shares issued pursuant to the exercise of an Option
(other than dividends in stock of the Corporation) shall be declared and paid only upon the basis
of the percentage of the total Option price actually received thereon by the Corporation, and any
such dividends paid prior to final payment for the shares shall be applied by the Corporation
against the unpaid portion of the Option price with such amounts to be applied to installments of
Plan purchase price coming due in the order of their maturity.

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             (f)     Exercise of Option. The shares covered by an Option may not be purchased earlier than
ninety (90) days after the date on which the Option is granted.

             (g)     Nontransferability of Options. During an option holder’s lifetime, an Option may be
exercised only by the option holder and shall not be transferable.

             (h)     Termination of Employment. Upon the termination of an Option holder’s employment for any
reason other than death, termination for cause, or retirement pursuant to the terms of a retirement
program of the Corporation or one of its subsidiaries, his or her Option privileges shall be
limited to the shares which were immediately purchasable by him at the date of such termination,
and such Option privileges shall expire unless exercised within three months after the date of such
termination, but not later than the date of expiration of the Option. If an Option holder’s
employment is terminated for cause, all rights under his or her Option shall expire immediately
upon the giving to the Option holder of the notice of such termination. Upon the termination of an
Option holder’s employment by reason of retirement pursuant to the terms of a retirement program of
the Corporation or one of its subsidiaries, his or her Option privileges shall be limited to the
shares which were immediately purchasable at the date of such retirement, and such Option
privileges shall expire unless exercised within the period not to exceed two years specified by the
Committee in the applicable Stock Option Agreement, but not later than the date of expiration of
the Option.

             (i)     Death of Option Holder. Upon the death of an Option holder, his or her Option privileges
shall apply to those shares which were immediately purchasable at the time of death, and such
privileges shall expire unless exercised (by the executor or administrator of the Option holder’s
estate or by a person who acquired the right to exercise such Option by bequest or inheritance or
by reason of the Option holder’s death) within (1) 12 months after the date of death, or (2) in the
event of death following termination of employment by reason of retirement pursuant to the terms of
a retirement program of the Corporation or one of its subsidiaries, the period in which the Option
privileges may be exercised upon termination by reason of such retirement as provided by the
Committee in the applicable Stock Option Agreement, whichever period terminates last, or such
longer period as may be permitted by the Committee in its discretion, but in non event later than
the date of expiration of the Option.

             (j)     Limitation. No employee eligible to participate in this Plan shall be granted one or more
Incentive Stock Options to purchase shares, which said Incentive Stock Options are exercisable
during any one calendar year, to the extent that the fair market value of such shares (determined
at the time that the Options are granted) exceeds $100,000. No employee shall be given the
opportunity to exercise Incentive Stock Options granted hereunder with respect to shares valued in
excess of $100,000 in any calendar year, except and to the extent that the Options shall have
accumulated over a period in excess of one year.

             (k)     Stock Option Agreement or Employment Agreement. Options granted under this Plan shall be
offered only pursuant to a Stock Option Agreement, in form and substance approved by the Committee
and signed by the Corporation or pursuant to an Employment Agreement signed by the Corporation. A proforma Stock Option Agreement is attached
hereto as Exhibit A.

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             (l)     Right of Committee. All other terms and conditions of any Option shall be determined by
the Committee in its discretion.

     7.     Adjustment in Event of Recapitalization. In the event of a reorganization,
recapitalization, stock split, stock dividend, combination of shares, merger, consolidation, rights
offering, or any other change in the corporate structure or shares of the Corporation, the
Committee shall make such equitable adjustment, if any, as it may deem appropriate, in the number
and kind of shares authorized by this Plan, or in the number Option price and kind of shares
covered by the Options granted.

     8.     Reallocation of Options. Shares covered by Options which expire or are terminated
for any reason prior to being exercised in full may, within the limitations of paragraph 4 above,
be reallocated by the Committee on or before ten years from the date this Plan is adopted by the
Corporation.

     9.     Governmental Regulations. This Plan, and the grant and exercise of Options
thereunder, shall be subject to all applicable rules and regulations of governmental or other
authorities, including but not limited to wage control boards.

     10.   Claims Procedure. If an Option under this Plan is not granted to an Employee and
such person believes that he or she is entitled to receive it, a claim shall be made in writing to
the Committee within sixty (60) days from the date the grant was to be made. Such claim shall be
reviewed by the Committee and the Corporation. If the claim is denied, in full or in part, the
Committee shall provide written notice within ninety (90) days setting forth the specific reasons
for denial. The notice shall include specific reference to the provisions of this Plan upon which
the denial is based and any additional material or information necessary to perfect the claim, if
any. Such written notice shall also indicate the steps to be taken if a review of the denial is
desires.

             If the claim is denied and a review is desired, the claimant shall notify the Committee in
writing within sixty (60) days. A claim shall be treated as denied if the Committee does not take
action in the aforesaid ninety (90) day period. In requesting review, the claimant may review this
Plan or any documents relating to it and submit any written issues and comments he or she may feel
appropriate. In his or her sole discretion, the Committee shall then review the claim and provide
a written decision within sixty (60) days. This decision likewise shall state the specific
provisions of this Plan on which the decision is based.

     11.   Discontinuance or Amendment of the Plan (and Amendment of Options). The Board of
Directors may discontinue this Plan at any time, and may amend it from time to time, but no
amendment may, without further stockholder approval, (a) increase the total number of shares which
may be purchased under the Plan other than as provided in paragraph 7, or (b) extend the period
during which Options may be granted or (c) change the class of employees to whom Options may be granted, and no
outstanding Option may be revoked, or altered in any manner unfavorable to the holder, without the consent of the holder.

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     12.   Effective
Date of the Plan. This Plan became effective on September 1,
2000.

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