Document:

EX-4.1

 Exhibit 4.1 

REGISTRATION RIGHTS AGREEMENT 

by and among 
 U.S. WELL
SERVICES, INC. 
 and 

THE PURCHASERS PARTY HERETO 
  

 Table of Contents 

 

							
	 ARTICLE I DEFINITIONS
	  	 	1	 
			
	 Section 1.1
	 	 Definitions
	  	 	1	
	 Section 1.2
	 	 Registrable Securities
	  	 	4	
		
	 ARTICLE II REGISTRATION RIGHTS
	  	 	4	 
			
	 Section 2.1
	 	 Shelf Registration
	  	 	4	
	 Section 2.2
	 	 Piggyback Registration
	  	 	6	
	 Section 2.3
	 	 Secondary Underwritten Offering
	  	 	8	
	 Section 2.4
	 	 Sale Procedures
	  	 	9	
	 Section 2.5
	 	 Cooperation by Holders
	  	 	13	
	 Section 2.6
	 	 Restrictions on Public Sale by Holders of Registrable Securities
	  	 	13	
	 Section 2.7
	 	 Expenses
	  	 	14	
	 Section 2.8
	 	 Indemnification
	  	 	14	
	 Section 2.9
	 	 Rule 144 Reporting
	  	 	16	
	 Section 2.10
	 	 Transfer or Assignment of Registration Rights
	  	 	17	
	 Section 2.11
	 	 Aggregation of Registrable Securities
	  	 	17	
	 Section 2.12
	 	 Going Dark Period
	  	 	17	
	 Section 2.13
	 	 IPO Registration
	  	 	17	
		
	 ARTICLE III MISCELLANEOUS
	  	 	19	 
			
	 Section 3.1
	 	 Communications
	  	 	19	
	 Section 3.2
	 	 Successors and Assigns
	  	 	19	
	 Section 3.3
	 	 Assignment of Rights
	  	 	19	
	 Section 3.4
	 	 Recapitalization (Exchanges, etc. Affecting the Registrable Securities)
	  	 	19	
	 Section 3.5
	 	 Specific Performance
	  	 	20	
	 Section 3.6
	 	 Counterparts
	  	 	20	
	 Section 3.7
	 	 Headings
	  	 	20	
	 Section 3.8
	 	 Governing Law, Submission to Jurisdiction
	  	 	20	
	 Section 3.9
	 	 Waiver of Jury Trial
	  	 	20	
	 Section 3.10
	 	 Severability of Provisions
	  	 	21	
	 Section 3.11
	 	 Entire Agreement
	  	 	21	
	 Section 3.12
	 	 Term; Amendment
	  	 	21	
	 Section 3.13
	 	 No Presumption
	  	 	21	
	 Section 3.14
	 	 Obligations Limited to Parties to Agreement
	  	 	21	
	 Section 3.15
	 	 Interpretation
	  	 	22	
	 Section 3.16
	 	 No Inconsistent Agreements; Additional Rights
	  	 	22	

  
 i 

 REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of April 1, 2020 by and between U.S.
Well Services, Inc., a Delaware corporation (“USWS”), and the parties set forth on Schedule A hereto (each, a “Purchaser” and collectively, the “Purchasers”). 

WHEREAS, this Agreement is made in connection with the closing of the issuance and sale of the Purchased Securities pursuant to the
(i) Purchase Agreement, dated as of March 31, 2020, by and between USWS and the Purchasers (the “Purchase Agreement”) and (ii) Second Amendment to Senior Secured Term Loan Credit Agreement, dated as of April 1,
2020, by and between USWS, the other loan parties party thereto and CLMG Corp. as administrative agent (the “Term Loan Amendment”); 

WHEREAS, USWS has agreed to provide the registration and other rights set forth in this Agreement for the benefit of the Purchasers pursuant
to the Purchase Agreement; and 
 WHEREAS, it is a condition to the obligations of the Purchasers and USWS under the Purchase Agreement that
this Agreement be executed and delivered. 
 NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by each party hereto, the parties hereby agree as follows: 

ARTICLE I 

DEFINITIONS 
 
Section 1.1    Definitions. The terms set forth below are used herein as so defined: 

“Affiliate” means, with respect to a specified Person, any other Person, directly or indirectly controlling, controlled by or
under direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, “controlling,” “controlled by,” and “under common control
with”) means the power to direct or cause the direction of the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise. 

“Agreement” has the meaning specified therefor in the introductory paragraph. 

“Business Day” means any day other than a Saturday, Sunday, any federal legal holiday or day on which banking institutions in
the State of New York or State of Texas are authorized or required by law or other governmental action to close. 
 “Certificate of
Designations” means the certificate of designations setting forth the terms of the Series B Preferred Stock. 

“Class A Common Stock” means the Class A common stock, par value $0.0001 per share, of USWS. 

  
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 “Commission” means the United States Securities and Exchange Commission.

 “Confidentiality Agreements” shall have the meaning set forth in the Purchase Agreement. 

“Effective Date” means the initial date of effectiveness of the Shelf Registration Statement. 

“Effectiveness Period” has the meaning specified therefor in Section 2.1(a) of this Agreement. 

“Existing Preferred RRA” means the Registration Rights Agreement of USWS, dated May 24, 2019. 

“Existing RRA” has the meaning specified therefor in Section 2.2(b). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations of the
Commission promulgated thereunder. 
 “Going Dark Period” has the meaning specified therefor in
Section 2.12. 
 “Holder” means the record holder of any Registrable Securities. 

“Included Registrable Securities” has the meaning specified therefor in Section 2.2(a) of this
Agreement. 
 “IPO Registration Statement” has the meaning specified therefor in Section 2.13(a).

 “Law” shall have the meaning set forth in the Purchase Agreement. 

“Losses” has the meaning specified therefor in Section 2.8(a) of this Agreement. 

“Managing Underwriter” means, with respect to any Underwritten Offering, the left lead book running manager of such
Underwritten Offering. 
 “Other Holder” has the meaning specified in Section 2.2(b). 

“Person” means any individual, corporation, company, voluntary association, partnership, joint venture, trust, limited
liability company, unincorporated organization, government or any agency, instrumentality or political subdivision thereof, or any other form of entity. 

“Piggyback Opt-Out Notice” has the meaning specified therefor in
Section 2.2(a) of this Agreement. 
 “Piggyback Registration” has the meaning specified therefor
in Section 2.2(a) of this Agreement. 
 “Purchase Agreement” has the meaning specified therefor
in the Recitals of this Agreement. 

  
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 “Purchased Securities” means the Series B Preferred Stock to be issued and
sold to the Purchasers pursuant to the Purchase Agreement and the Term Loan Amendment. 
 “Purchaser” or
“Purchasers” has the meaning set forth in the introductory paragraph of this Agreement. 
 “Registration”
means any registration pursuant to this Agreement, including pursuant to the Shelf Registration Statement, IPO Registration Statement or a Piggyback Registration. 

“Registrable Securities” means, subject to Section 1.2 of this Agreement, (i) the shares of
Class A Common Stock issued or issuable upon conversion or redemption of the Purchased Securities in accordance with the terms of the Certificate of Designations. (ii) any shares of Class A Common Stock issued as (or issuable upon the
conversion, redemption or exercise of any warrant, option, right or other security that is issued as (including any additional shares of Series B Preferred Stock)) a dividend or other distribution with respect to, or in exchange for or in
replacement of, any such shares of Class A Common Stock described in clause (i) or the Purchased Securities and (iii) the Class A Common Stock to be issued pursuant to the Term Loan Amendment. The number of Registrable Securities
held by any Holder shall mean the number of Registrable Securities such Holder would hold after the full conversion, redemption or exercise of any security held by such Holder that is convertible into or redeemable or exercisable for Registrable
Securities (including the Purchased Securities) and the value of such Registrable Securities for purposes of determining whether any threshold set forth in this Agreement shall be calculated by multiplying such fully diluted number of shares of
Registrable Securities by the average of the closing price on each securities exchange or nationally recognized quotation system on which the Class A Common Stock is then listed for the ten (10) trading days preceding the date on which
such value is being determined. 
 “Registration Expenses” has the meaning specified therefor in
Section 2.7(a) of this Agreement. 
 “Resale Opt-Out
Notice” has the meaning specified therefor in Section 2.1(b) of this Agreement. 
 “Securities
Act” means the Securities Act of 1933, as amended from time to time, and the rules and regulations of the Commission promulgated thereunder. 

“Selling Expenses” has the meaning specified therefor in Section 2.7(a) of this Agreement. 

“Selling Holder” means a Holder who is selling Registrable Securities pursuant to a Registration. 

“Selling Holder Election Notice” has the meaning specified therefor in Section 2.3(a) of this
Agreement. 
 “Series B Preferred Stock” means the Series A Redeemable Convertible Preferred Stock of USWS and having the
rights and obligations specified in the Certificate of Designations. 

  
 3 

 “Shelf Registration Statement” means a registration statement under the
Securities Act to permit the public resale of the Registrable Securities from time to time as permitted by Rule 415 of the Securities Act (or any similar provision then in force under the Securities Act). 

“Shelf Registration Filing Deadline” means, prior to a Going Dark Period, four months from the date of this Agreement, and,
following a Going Dark Period, four months after the first day on which USWS becomes subject to Section 13 or 15(d) of the Exchange Act after a Going Dark Period. 

“Term Loan Amendment” has the meaning specified therefor in the Recitals of this Agreement. 

“Underwritten Offering” means an offering (including an offering pursuant to a Shelf Registration Statement or IPO
Registration Statement) in which Class A Common Stock is sold to an underwriter on a firm commitment basis for reoffering to the public or an offering that is a “bought deal” with one or more investment banks. 

“USWS” has the meaning specified therefor in the introductory paragraph of this Agreement. 

“WKSI” means a well-known seasoned issuer (as defined in Rule 405 under the Securities Act). 

Section 1.2    Registrable Securities. Any Registrable Security will cease to be a Registrable Security at the
earliest of the following: (a) when a registration statement covering such Registrable Security has been declared effective by the Commission and such Registrable Security has been sold or disposed of pursuant to such effective registration
statement; (b) when such Registrable Security is held by USWS or one of its subsidiaries; (c) when such Registrable Security has been sold in a private transaction in which the transferor’s rights under this Agreement are not assigned
to the transferee of such securities; and (d) the date on which such Registrable Security has been sold pursuant to any section of Rule 144 under the Securities Act (or any similar provision then in force under the Securities Act, “Rule
144”) or any other exemption from the registration requirements of the Securities Act as a result of which the legend on any certificate or book-entry notation representing such Registrable Security restricting transfer of such Registrable
Security has been removed. 
 ARTICLE II 

REGISTRATION RIGHTS 
 
Section 2.1    Shelf Registration. 
 (a)    Shelf Registration. USWS shall
use its commercially reasonable efforts to prepare and file an initial Shelf Registration Statement under the Securities Act covering 77,120,531 shares of the Registrable Securities on or before the Shelf Registration Filing Deadline. The initial
Shelf Registration Statement shall allocate such Registrable Securities among the Holders on a pro rata basis. USWS shall use its commercially reasonable efforts to cause such initial Shelf Registration Statement to become effective no later than
four months following the initial filing of a Shelf Registration Statement. USWS will use its commercially reasonable efforts 

  
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to cause such initial Shelf Registration Statement filed pursuant to this Section 2.1(a) to be continuously effective under the Securities Act until the earliest of
(i) all Registrable Securities covered by the Shelf Registration Statement have been distributed in the manner set forth and as contemplated in such Shelf Registration Statement, and (ii) there are no longer any Registrable Securities
outstanding (the “Effectiveness Period”). Any Holder or Holders shall have the option and right from time to time, exercisable by delivering a written notice to USWS (a “Demand Notice”), to require registration of a
minimum of $10 million of additional Registrable Securities not covered by a Shelf Registration Statement at the time of the Demand Notice. USWS shall use its commercially reasonable efforts to amend the initial Shelf Registration Statement or
file a new Shelf Registration Statement, within 10 Business Days of the Demand Notice to include such additional Registrable Securities. USWS will use its commercially reasonable efforts to cause such amendment to the initial Shelf Registration
Statement or subsequent Shelf Registration Statement, as applicable, to be continuously effective under the Securities Act during the Effectiveness Period. A Shelf Registration Statement filed pursuant to this
Section 2.1(a) shall be on such appropriate registration form of the Commission as shall be selected by USWS. A Shelf Registration Statement when declared effective (including the documents incorporated therein by
reference) will comply as to form in all material respects with all applicable requirements of the Securities Act and the Exchange Act and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein not misleading (in the case of any prospectus contained in such Shelf Registration Statement, in the light of the circumstances under which a statement is made). As soon as practicable following
the date that a Shelf Registration Statement becomes effective, but in any event within five (5) Business Days of such date, USWS shall provide the Holders with written notice of the effectiveness of a Shelf Registration Statement. 

(b)    Resale Registration Opt-Out. At least five (5) Business Days
before the initial filing of the Shelf Registration Statement required by Section 2.1(a), USWS shall provide advance written notice to each Holder that it plans to file a Shelf Registration Statement. Any Holder may deliver
advance written notice (a “Resale Opt-Out Notice”) to USWS requesting that such Holder not be included in a Shelf Registration Statement prior to its initial filing. Following receipt of a
Resale Opt-Out Notice from a Holder, USWS shall not be required to include the Registrable Securities of such Holder in such Shelf Registration Statement. 

(c)    Delay Rights. Notwithstanding anything to the contrary contained herein, USWS may, upon written notice to
any Selling Holder whose Registrable Securities are included in the Shelf Registration Statement, suspend such Selling Holder’s use of any prospectus which is a part of the Shelf Registration Statement (in which event the Selling Holder shall
discontinue sales of the Registrable Securities pursuant to the Shelf Registration Statement) if (i) USWS is pursuing an acquisition, merger, reorganization, disposition or other similar transaction and USWS determines in good faith that
USWS’s ability to pursue or consummate such a transaction would be materially and adversely affected by any required disclosure of such transaction in the Shelf Registration Statement or (ii) USWS has experienced some other material non-public event the disclosure of which at such time, in the good faith judgment of USWS, would materially and adversely affect USWS; provided, however, that in no event shall the Selling Holders be
suspended from selling Registrable Securities pursuant to the Shelf Registration Statement for a period of sixty (60) consecutive days or an aggregate of one-hundred and twenty (120) days in any
365-day period. Upon disclosure of such information or the termination of the condition described above, 

  
 5 

 
USWS shall provide prompt notice to the Selling Holders whose Registrable Securities are included in the Shelf Registration Statement, and shall promptly terminate any suspension of sales it has
put into effect and shall take such other actions necessary or appropriate to permit registered sales of Registrable Securities as contemplated in this Agreement. 

(d)    Renewal. If, by the third anniversary (the “Renewal Deadline”) of the initial effective date of a
Shelf Registration Statement filed pursuant to this Section 2.1, any of the Registrable Securities remain unsold by a Holder included on such Registration, USWS shall file, if it has not already done so and is eligible to do so, a new Shelf
Registration Statement covering the Registrable Securities included on the prior Shelf Registration Statement and shall use its commercially reasonable efforts to cause such Shelf Registration Statement to be declared effective within 180 days after
the Renewal Deadline; and USWS shall take all other action necessary or appropriate to permit the public offering and sale of the Registrable Securities to continue as contemplated in the expired Shelf Registration Statement. References herein to
Shelf Registration Statement shall include such new shelf registration statement. 
 Section 2.2    Piggyback
Registration. 
 (a)    Participation. If at any time USWS proposes to file (i) at a time when USWS is
not a WKSI, a registration statement and such Holder has not previously included its Registrable Securities in a Shelf Registration Statement contemplated by Section 2.1(a) of this Agreement that is currently effective, or
(ii) a prospectus supplement to an effective “automatic shelf registration statement” (as defined in Rule 405 under the Securities Act), so long as USWS is a WKSI at such time or, whether or not USWS is a WKSI, so long as the
Registrable Securities were previously included in the underlying Shelf Registration Statement or are included in an effective Shelf Registration Statement, or in any case in which Holders may participate in such offering without the filing of a
post-effective amendment, in each case, for the sale of Class A Common Stock in an Underwritten Offering for its own account and/or another Person, other than (a) a registration relating solely to employee benefit plans, (b) a
registration relating solely to a Rule 145 transaction, or (c) a registration statement on any registration form which does not permit secondary sales, then USWS shall give not less than three (3) Business Days advance notice (including,
but not limited to, notification by e-mail; such notice, a “Piggyback Notice”) of such proposed Underwritten Offering to each Holder that, together with its Affiliates, owns more than
$5.0 million of Registrable Securities, and such notice shall offer such Holder the opportunity to participate in any Underwritten Offering and to include in such Underwritten Offering such number of Registrable Securities (the
“Included Registrable Securities”) as each such Holder may request in writing (a “Piggyback Registration”); provided, however, that USWS (A) shall not be required to include the Registrable
Securities of the Holders in such Registration if the Holders do not offer a minimum of $5.0 million of Registrable Securities, or (B) if USWS has been advised by the Managing Underwriter that the inclusion of Registrable Securities for
sale for the benefit of the Holders will have an adverse effect on the offering price, timing or probability of success of the distribution of the Class A Common Stock in the Underwritten Offering, then the amount of Registrable Securities to
be offered for the accounts of Holders shall be determined based on the provisions of Section 2.2(b). If USWS is not required to offer the opportunity for a Piggyback Registration in respect of a proposed Underwritten
Offering as a result of the circumstance described in clause (B) of the proviso of the immediately preceding sentence, then USWS shall nevertheless be required to furnish to such Holders the Piggyback Notice in respect of such proposed
Underwritten 

  
 6 

 
Offering, which notice shall describe USWS’s intention to conduct an Underwritten Offering and, if the determination described in clause (B) of the proviso of the immediately preceding
sentence has been made at the time that the Piggyback Notice is required to be given by USWS, shall include notification that the Holders do not have the opportunity to include Registrable Securities in such Underwritten Offering because USWS has
been advised by the Managing Underwriter that the inclusion of Registrable Securities for sale for the benefit of the Holders will have an adverse effect on the offering price, timing or probability of success of the distribution of the Class A
Common Stock in the Underwritten Offering. If the circumstance described in clause (B) of the proviso of the immediately preceding sentence is made after the Piggyback Notice has been given, then USWS shall notify the Holders who were provided
such Piggyback Notice (or if the two Business Day period referred to in the next sentence has lapsed, the Holders who have timely elected to include Registrable Securities in such offering) in writing of such circumstance and the aggregate number of
Registrable Securities, if any, that can be included in such offering. Each Piggyback Notice shall be provided to Holders on a Business Day pursuant to Section 3.1 hereof and confirmation of receipt of such notice shall be
requested in the notice. The Holder will have two Business Days after notice has been delivered to request in writing the inclusion of Registrable Securities in the Underwritten Offering. If no request for inclusion from a Holder is received within
the specified time, such Holder shall have no further right to participate in such Piggyback Registration. If, at any time after giving written notice of its intention to undertake an Underwritten Offering and prior to the closing of such
Underwritten Offering, USWS shall determine for any reason not to undertake or to delay such Underwritten Offering, USWS may, at its election, give written notice of such determination to the Selling Holders and, (x) in the case of a
determination not to undertake such Underwritten Offering, shall be relieved of its obligation to sell any Included Registrable Securities in connection with such terminated Underwritten Offering, and (y) in the case of a determination to delay
such Underwritten Offering, shall be permitted to delay offering any Included Registrable Securities for the same period as the delay in the Underwritten Offering. Any Selling Holder shall have the right to withdraw such Selling Holder’s
request for inclusion of such Selling Holder’s Registrable Securities in such Underwritten Offering by giving written notice to USWS of such withdrawal up to and including the time of pricing of such offering. Any Holder may deliver written
notice (a “Piggyback Opt-Out Notice”) to USWS requesting that such Holder not receive notice from USWS of any proposed Underwritten Offering; provided, however, that such Holder
may later revoke any such Piggyback Opt-Out Notice in writing. Following receipt of a Piggyback Opt-Out Notice from a Holder (unless subsequently revoked), USWS shall
not be required to deliver any notice to such Holder pursuant to this Section 2.2(a) and such Holder shall no longer be entitled to participate in Underwritten Offerings by USWS pursuant to this
Section 2.2(a), unless such Piggyback Opt-Out Notice is revoked by such Holder. 

(b)    Priority of Piggyback Registration. If the Managing Underwriter or Underwriters of any proposed Underwritten
Offering of shares of Class A Common Stock included in a Piggyback Registration advises USWS that the total shares of Class A Common Stock which the Selling Holders and any other Persons intend to include in such offering exceeds the
number which can be sold in such offering without being likely to have an adverse effect on the offering price, timing or probability of success of the distribution of the Class A Common Stock offered or the market for the Class A Common
Stock, then the Piggyback Notice provided by USWS pursuant to Section 2.2(a) shall include notification of such determination or, if such determination is made after the Piggyback Notice has been given, then USWS shall
furnish notice in writing (including by e-mail) to the Holders (or to those who have timely elected to participate in such Underwritten 

  
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Offering), and the Class A Common Stock to be included in such Underwritten Offering shall include the number of shares of Class A Common Stock that such Managing Underwriter or
Underwriters advises USWS can be sold without having such adverse effect, with such number to be allocated (i) if such Piggyback Registration was initiated by USWS, (A) first, to USWS, (B) second, pro rata among the Selling Holders
and any other Persons who have been or after the date hereof are granted registration rights on parity (including pursuant to the Existing Preferred RRA) with the registration rights granted under this Agreement (the “Other
Holders”) who have requested participation in the Piggyback Registration (based, for each such Selling Holder or Other Holder, on the percentage derived by dividing (1) the number of shares of Class A Common Stock proposed to be
sold by such Selling Holder or such Other Holder in such offering; by (2) the aggregate number of shares of Class A Common Stock proposed to be sold by all Selling Holders and all Other Holders in the Piggyback Registration), and
(C) third, to any other holder of shares of Class A Common Stock with registration rights that are subordinate to the rights of the Holders hereunder and (ii) if such Piggyback Registration was not initiated by USWS, (A) first,
to the Persons initiating such Registration, (B) second, pro rata among the Selling Holders and any Other Holders who have requested participation in the Piggyback Registration (based, for each such Selling Holder or Other Holder, on the
percentage derived by dividing (1) the number of shares of Class A Common Stock proposed to be sold by such Selling Holder or such Other Holder in such offering; by (2) the aggregate number of shares of Class A Common Stock
proposed to be sold by all Selling Holders and all Other Holders in the Piggyback Registration other than the Persons initiating such Registration), except that in the case of a Shelf Underwritten Offering (as defined in the Registration Rights
Agreement of USWS dated November 9, 2018 (the “Existing RRA”)) the Holders shall only be permitted to participate in such Shelf Underwritten Offering after all of the securities that Other Holders have requested to be included
in such Shelf Underwritten Offering pursuant to the Existing RRA have been so included, and (C) third, to any other holder of shares of Class A Common Stock with registration rights that are subordinate to the rights of the Holders
hereunder. 
 Section 2.3    Secondary Underwritten Offering. 

(a)    S-3 Registration. In the event that a Selling Holder (together with
any Affiliates that are Selling Holders) elects to dispose of Registrable Securities under the Shelf Registration Statement pursuant to an Underwritten Offering for its own account of at least $10.0 million, such Selling Holder shall give
notice of such election in writing (including, but not limited to, notification by e-mail; such notice, the “Selling Holder Election Notice”) to USWS not less than twenty (20) Business
Days before the date such Selling Holder intends for such Underwritten Offering to commence marketing (whether on a confidential basis or on a public basis); provided that USWS shall not be required to conduct more than two Underwritten
Offerings pursuant to this Section 2.3 in any 365-day period pursuant to Selling Holder Election Notices. The Selling Holder Election Notice shall specify the number of Registrable Securities that the Selling Holder intends
to offer in such Underwritten Offering and the expected commencement date thereof. USWS shall, at the request of such Selling Holder, enter into an underwriting agreement in customary form with the Managing Underwriter or Underwriters, which shall
include, among other provisions, indemnities to the effect and to the extent provided in Section 2.8, and shall take all such other reasonable actions as are requested by the Managing Underwriter in order to expedite or
facilitate the disposition of the Registrable Securities. 

  
 8 

 (b)    Notice to Holders. Not later than two (2) Business
Days after receipt by USWS of the Selling Holder Election Notice, unless USWS determines in accordance with Section 2.1(c) to delay such Underwritten Offering (in which event USWS shall promptly notify the initiating
Selling Holder in writing of such determination), then USWS shall provide written notice (including, but not limited to, notification by e-mail) to the other Holders of Registrable Securities of the Selling
Holder’s intention to conduct an Underwritten Offering and such notice shall offer such other Holders the opportunity to participate in such Underwritten Offering and to include in such Underwritten Offering such number of Registrable
Securities as each such Holder may request in writing. Each such other Holder will have five (5) Business Days after notice has been delivered to request in writing submitted to USWS the inclusion of Registrable Securities in the Underwritten
Offering. If no request for inclusion from a Holder is received by USWS within the specified time, such Holder shall have no further right to participate in such Underwritten Offering. If, at any time after giving written notice of its intention to
undertake an Underwritten Offering and prior to the closing of such Underwritten Offering, the Selling Holder giving the notice shall determine for any reason not to undertake or to delay such Underwritten Offering, such Selling Holder may, at its
election, give written notice of such determination to USWS and USWS shall notify the other Holders and, (x) in the case of a determination not to undertake such Underwritten Offering, shall be relieved of its obligation to include Registrable
Securities of any other Holder, and (y) in the case of a determination to delay such Underwritten Offering, shall be permitted to delay offering any Registrable Securities of any other Holder for the same period as the delay in the Underwritten
Offering. Any other Holder shall have the right to withdraw such Holder’s request for inclusion of such Holder’s Registrable Securities in such Underwritten Offering by giving written notice to USWS of such withdrawal up to and including
the time of pricing of such offering. If the Managing Underwriter or Underwriters of any proposed Underwritten Offering of Registrable Securities under a Shelf Registration Statement advises USWS that the total amount of Registrable Securities which
the Selling Holders and any other Persons intend to include in such offering exceeds the number which can be sold in such offering without being likely to have an adverse effect on the offering price, timing or probability of success of the
distribution of the Registrable Securities offered or the market for the Registrable Securities, then the Registrable Securities to be included in such Underwritten Offering shall include the number of Registrable Securities that such Managing
Underwriter or Underwriters advises USWS can be sold without having such adverse effect, with such number to be allocated pro rata among the Selling Holders and the other Holders who have requested participation in the Underwritten Offering (based,
for each such Selling Holder or other Holder, on the percentage derived by dividing (A) the number of Registrable Securities proposed to be sold by such Selling Holder or such other Holder in such offering; by (B) the aggregate number of
Registrable Securities proposed to be sold by all Selling Holders and all other Holders in such Underwritten Offering). 

Section 2.4    Sale Procedures. 

(a)    General Procedures. In connection with any Underwritten Offering (i) under
Section 2.2 or Section 2.13 of this Agreement, USWS shall be entitled to select the Managing Underwriter or Underwriters, and (ii) under Section 2.3 of this
Agreement, the Selling Holders shall be entitled to select the Managing Underwriter or Underwriters. In connection with an Underwritten Offering contemplated by this Agreement in which a Selling Holder participates, each Selling Holder and USWS
shall be obligated to enter into an underwriting agreement with the Managing Underwriter or Underwriters which contains such representations, covenants, 

  
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indemnities and other rights and obligations as are customary in underwriting agreements for firm commitment offerings of equity securities. No Selling Holder may participate in such Underwritten
Offering unless such Selling Holder agrees to sell its Registrable Securities on the basis provided in such underwriting agreement and completes and executes all questionnaires, powers of attorney, indemnities and other documents reasonably required
under the terms of such underwriting agreement. Each Selling Holder may, at its option, require that any or all of the representations and warranties by, and the other agreements on the part of, USWS to and for the benefit of such underwriters also
be made to and for such Selling Holder’s benefit and that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement also be conditions precedent to its obligations. No Selling Holder shall
be required to make any representations or warranties to or agreements with USWS or the underwriters other than representations, warranties or agreements regarding such Selling Holder’s ownership of the securities being registered on its behalf
and its intended method of distribution and any other representation required by law. If any Selling Holder disapproves of the terms of an underwriting, such Selling Holder may elect to withdraw therefrom by notice to USWS and the Managing
Underwriter; provided, however, that such withdrawal must be made at least one Business Day prior to the time of pricing of such Underwritten Offering to be effective. No such withdrawal or abandonment shall affect USWS’s
obligation to pay Registration Expenses. Upon the receipt by USWS of a written request from the Holders of at least $10.0 million dollars of Registrable Securities that are participating in any Underwritten Offering contemplated by this
Agreement, USWS’s management shall be required to participate in a roadshow or similar marketing effort in connection with any Underwritten Offering. 

(b)    In connection with its obligations under this Article II, USWS will, as expeditiously as
possible: 
 (i)    prepare and file with the Commission such amendments and supplements to the Shelf
Registration Statement and the prospectus used in connection therewith as may be necessary to keep a Shelf Registration Statement effective for the Effectiveness Period and as may be necessary to comply with the provisions of the Securities Act with
respect to the disposition of all Registrable Securities covered by a Shelf Registration Statement; 

(ii)    if a prospectus supplement will be used in connection with the marketing of an Underwritten
Offering from a Shelf Registration Statement and the Managing Underwriter at any time shall notify USWS in writing that, in the sole judgment of such Managing Underwriter, the inclusion of detailed information to be used in such prospectus
supplement is of material importance to the success of the Underwritten Offering of such Registrable Securities, USWS shall use its commercially reasonable efforts to include such information in the prospectus supplement; 

(iii)    furnish to each Selling Holder (A) as far in advance as reasonably practicable before filing
a Shelf Registration Statement or any other registration statement contemplated by this Agreement or any supplement or amendment thereto, upon request, copies of reasonably complete drafts of all such documents proposed to be filed (including
exhibits and each document incorporated by reference therein to the extent then required by the rules and regulations of the Commission), and provide each such Selling Holder the opportunity to object to any information pertaining to such Selling
Holder and its plan of 

  
 10 

 
distribution that is contained therein and make the corrections reasonably requested by such Selling Holder with respect to such information prior to filing such Shelf Registration Statement or
such other registration statement and the prospectus included therein or any supplement or amendment thereto, and (B) such number of copies of such Shelf Registration Statement or such other registration statement and the prospectus included
therein and any supplements and amendments thereto as such Persons may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities covered by such Shelf Registration Statement or other registration
statement; 
 (iv)    if applicable, use its commercially reasonable efforts to register or qualify the
Registrable Securities covered by a Shelf Registration Statement or any other registration statement contemplated by this Agreement under the securities or blue sky laws of such jurisdictions as the Selling Holders or, in the case of an Underwritten
Offering, the Managing Underwriter, shall reasonably request, provided that USWS will not be required to qualify generally to transact business in any jurisdiction where it is not then required to so qualify or to take any action which would
subject it to general service of process in any such jurisdiction where it is not then so subject; 

(v)    promptly notify each Selling Holder and each underwriter, at any time when a prospectus relating
thereto is required to be delivered under the Securities Act, of (A) the filing of a Shelf Registration Statement or any other registration statement contemplated by this Agreement or any prospectus included therein or any amendment or
supplement thereto (other than any amendment or supplement resulting from the filing of a document incorporated by reference therein), and, with respect to such Shelf Registration Statement or any other registration statement or any post-effective
amendment thereto, when the same has become effective; and (B) the receipt of any written comments from the Commission with respect to any filing referred to in clause (A) and any written request by the Commission for amendments or
supplements to such Shelf Registration Statement or any other registration statement or any prospectus or prospectus supplement thereto; 

(vi)    immediately notify each Selling Holder and each underwriter, at any time when a prospectus relating
thereto is required to be delivered under the Securities Act, of (A) the happening of any event as a result of which the prospectus contained in a Shelf Registration Statement or any other registration statement contemplated by this Agreement
or any supplemental amendment thereto, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances
then existing; (B) the issuance or threat of issuance by the Commission of any stop order suspending the effectiveness of such Shelf Registration Statement or any other registration statement contemplated by this Agreement, or the initiation of
any proceedings for that purpose; or (C) the receipt by USWS of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction.
Following the provision of such notice, USWS agrees to as promptly as practicable amend or supplement the prospectus or prospectus supplement or take other appropriate action so that the prospectus or prospectus supplement does not include an untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing and to take such other action as is necessary to
remove a stop order, suspension, threat thereof or proceedings related thereto; 

  
 11 

 (vii)    upon request and subject to appropriate
confidentiality obligations, furnish to each Selling Holder copies of any and all transmittal letters or other correspondence with the Commission or any other governmental agency or self-regulatory body or other body having jurisdiction (including
any domestic or foreign securities exchange) relating to such offering of Registrable Securities; 

(viii)    in the case of an Underwritten Offering, furnish upon request, (A) an opinion of counsel for
USWS, dated the effective date of the applicable registration statement or the date of any amendment or supplement thereto (other than any amendment or supplement resulting from the filing of a document incorporated by reference therein),
preliminary or prospectus supplement, and a letter of like kind dated the date of the closing under the underwriting agreement, and (B) a “comfort” letter, dated the pricing date of such Underwritten Offering and a letter of like kind
dated the date of the closing under the underwriting agreement, in each case, signed by the independent public accountants who have certified USWS’s financial statements included or incorporated by reference into the applicable registration
statement, and each of the opinion and the “comfort” letter shall be in customary form and covering substantially the same matters with respect to such registration statement (and the prospectus included therein and any supplement thereto)
and as are customarily covered in opinions of issuer’s counsel and in accountants’ letters delivered to the underwriters in underwritten offerings of securities, such other matters as such underwriters may reasonably request; 

(ix)    except during a Going Dark Period, otherwise use its commercially reasonable efforts to comply with
all applicable rules and regulations of the Commission and make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least 12 months, but not more than 18 months, beginning with the
first full calendar month after the effective date of such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 promulgated thereunder; 

(x)    make available to the appropriate representatives of the underwriters access to such information and
USWS personnel as is reasonable and customary to enable such parties and their representatives to establish a due diligence defense under the Securities Act; provided that USWS need not disclose any
non-public information to any such representative unless and until such representative has entered into a confidentiality agreement with USWS; 

(xi)    cause all such Registrable Securities registered pursuant to this Agreement to be listed on each
securities exchange or nationally recognized quotation system on which similar securities issued by USWS are then listed; 

(xii)    use its commercially reasonable efforts to cause the Registrable Securities to be registered with
or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of USWS to enable the Selling Holders to consummate the disposition of such Registrable Securities; 

  
 12 

 (xiii)    provide a transfer agent and registrar for all
Registrable Securities covered by such registration statement; and 
 (xiv)    enter into customary
agreements and take such other actions as are reasonably requested by the Selling Holders or the underwriters, if any, in order to expedite or facilitate the disposition of such Registrable Securities. 

(c)    Each Selling Holder, upon receipt of notice from USWS of the happening of any event of the kind described in
Section 2.4(b)(vi), shall forthwith discontinue disposition of the Registrable Securities until such Selling Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by
Section 2.4(b)(vi) or until it is advised in writing by USWS that the use of the prospectus may be resumed, and has received copies of any additional or supplemental filings incorporated by reference in the prospectus, and,
if so directed by USWS, such Selling Holder will, or will request the Managing Underwriter or underwriters, if any, to deliver to USWS (at USWS’s expense) all copies in their possession or control, other than permanent file copies then in such
Selling Holder’s possession, of the prospectus and any prospectus supplement covering such Registrable Securities current at the time of receipt of such notice. 

Section 2.5    Cooperation by Holders. USWS shall have no obligation to
include Registrable Securities of a Holder in the Shelf Registration Statement, IPO Registration Statement or in an Underwritten Offering under Article II of this Agreement if such Selling Holder has failed to timely
furnish such information which, in the opinion of counsel to USWS, is reasonably required in order for the registration statement or prospectus supplement, as applicable, to comply with the Securities Act. 

Section 2.6    Restrictions on Public Sale by Holders of Registrable Securities. For a period of one year
following the Effective Date, each Holder of Registrable Securities who is included in the Shelf Registration Statement agrees not to effect any public sale or distribution of the Registrable Securities during the forty-five (45) calendar day
period beginning on the date of a prospectus supplement filed with the Commission with respect to the pricing of an Underwritten Offering, or other prospectus (including any free writing prospectus) containing the terms of the pricing of such
Underwritten Offering; provided that (a) USWS gives written notice to such Holder of the date of the commencement and termination of such period with respect to any such Underwritten Offering and (b) the duration of the foregoing
restrictions shall be no longer than the duration of the shortest restriction generally imposed by the underwriters on the officers or directors or any other stockholder of USWS on whom a restriction is imposed; and provided further that this
Section 2.6 shall only be applicable to Holders of Registrable Securities included in the Shelf Registration Statement who (together with their Affiliates that hold Registrable Securities) (y) own at least
$5.0 million of Registrable Securities and (z) have not delivered (or delivered and subsequently revoked) a Piggyback Opt-Out Notice. 

  
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 Section 2.7    Expenses.

 (a)    Certain Definitions. “Registration Expenses” means all expenses incident to
USWS’s performance under or compliance with this Agreement to effect the registration of Registrable Securities in a Shelf Registration Statement pursuant to Section 2.1, a Piggyback Registration pursuant to
Section 2.2, an Underwritten Offering pursuant to Section 2.3 or an IPO Registration Statement pursuant to Section 2.13 and the disposition of such securities, including,
without limitation, all registration, filing, securities exchange listing and fees, all registration, filing, qualification and other fees and expenses of complying with securities or blue sky laws, fees of the Financial Industry Regulatory
Authority, transfer taxes and fees of transfer agents and registrars, all word processing, duplicating and printing expenses, all roadshow expenses borne by it and the fees and disbursements of counsel and independent public accountants for USWS,
including the expenses of any special audits or “comfort” letters required by or incident to such performance and compliance. Except as otherwise provided in Section 2.8 hereof, USWS shall not be responsible for
legal fees incurred by Holders in connection with the exercise of such Holders’ rights hereunder. In addition, USWS shall not be responsible for any “Selling Expenses,” which means all underwriting fees, discounts and selling
commissions, transfer taxes and fees of counsel allocable to the sale of the Registrable Securities. 

(b)    Expenses. USWS will pay all reasonable Registration Expenses in connection with a Shelf Registration
Statement, a Piggyback Registration, an IPO Registration Statement or Underwritten Offering, whether or not any sale is made pursuant to such Shelf Registration Statement, Piggyback Registration or Underwritten Offering. Each Selling Holder shall
pay its pro rata share of all Selling Expenses in connection with any sale of its Registrable Securities hereunder. 

Section 2.8    Indemnification. 

(a)    By USWS. In the event of a registration of any Registrable Securities under the Securities Act pursuant to
this Agreement, USWS will indemnify and hold harmless each Selling Holder thereunder, its directors, officers, employees, agents and managers, and each underwriter, pursuant to the applicable underwriting agreement with such underwriter, of
Registrable Securities thereunder and each Person, if any, who controls such Selling Holder or underwriter within the meaning of the Securities Act and the Exchange Act, and its directors, officers, employees, agents and managers, against any
losses, claims, damages, expenses or liabilities (including reasonable attorneys’ fees and expenses) (collectively, “Losses”), joint or several, to which such Selling Holder or underwriter or controlling Person or directors,
officers, employees, agents or managers may become subject under the Securities Act, the Exchange Act or otherwise, insofar as such Losses (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based
upon any untrue statement or alleged untrue statement of any material fact (in the case of any prospectus, in light of the circumstances under which such statement is made) contained in the Shelf Registration Statement or any other registration
statement contemplated by this Agreement, any preliminary prospectus or final prospectus contained therein, or any free writing prospectus related thereto, or any amendment or supplement thereof, or arise out of or are based upon the omission or
alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in light of the circumstances under which they were made) not misleading, and will

  
 14 

 
reimburse each such Selling Holder, its directors and officers, each such underwriter and each such controlling Person and each such director, officer, employee, agent or manager for any legal or
other expenses reasonably incurred by them in connection with investigating or defending any such Loss or actions or proceedings; provided, however, that USWS will not be liable in any such case if and to the extent that any such Loss
arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by such Selling Holder, such underwriter or such controlling Person in writing
specifically for use in the Shelf Registration Statement or such other registration statement, or prospectus supplement, as applicable. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such
Selling Holder or any such director, officer, employee, agent, manager or controlling Person, and shall survive the transfer of such securities by such Selling Holder. 

(b)    By Each Selling Holder. Each Selling Holder agrees severally and not jointly to indemnify and hold harmless
USWS, its directors, officers, employees and agents and each Person, if any, who controls USWS within the meaning of the Securities Act or of the Exchange Act to the same extent as the foregoing indemnity from USWS to the Selling Holders, but only
with respect to information regarding such Selling Holder furnished in writing by or on behalf of such Selling Holder expressly for inclusion in the Shelf Registration Statement, any other registration statement contemplated by this Agreement or
prospectus supplement relating to the Registrable Securities, or any amendment or supplement thereto; provided, however, that the liability of each Selling Holder shall not be greater in amount than the dollar amount of the proceeds
(net of any Selling Expenses) received by such Selling Holder from the sale of the Registrable Securities giving rise to such indemnification less the amount of any damages that such Selling Holder has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission. 
 (c)    Notice. Promptly after receipt
by an indemnified party hereunder of notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder, notify the indemnifying party in writing thereof, but
the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to any indemnified party other than under this Section 2.8(c) except to the extent that the indemnifying party is
materially prejudiced by such failure. In any action brought against any indemnified party, it shall notify the indemnifying party of the commencement thereof. The indemnifying party shall be entitled to participate in and, to the extent it shall
wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified party and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense thereof,
the indemnifying party shall not be liable to such indemnified party under this Section 2.8 for any legal expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable
costs of investigation and of liaison with counsel so selected; provided, however, that, (i) if the indemnifying party has failed to assume the defense and employ counsel reasonably satisfactory to the indemnified party or
(ii) if the defendants in any such action include both the indemnified party and the indemnifying party and counsel to the indemnified party shall have concluded that there may be reasonable defenses available to the indemnified party that are
different from or additional to those available to the indemnifying party, or if the interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party or representation by both parties by the same

  
 15 

 
counsel is otherwise inappropriate under the applicable standards of professional conduct, then the indemnified party shall have the right to select a separate counsel and to assume such legal
defense and otherwise to participate in the defense of such action, with the reasonable expenses and fees of such separate counsel and other reasonable expenses related to such participation to be reimbursed by the indemnifying party as incurred.
Notwithstanding any other provision of this Agreement, the indemnifying party shall not settle any indemnified claim without the consent of the indemnified party, unless the settlement thereof imposes no liability or obligation on, includes a
complete release from liability of, and does not contain any admission of wrong doing by, the indemnified party. 

(d)    Contribution. If the indemnification provided for in this Section 2.8 is held by a
court or government agency of competent jurisdiction to be unavailable to USWS or any Selling Holder or is insufficient to hold them harmless in respect of any Losses, then each such indemnifying party, in lieu of indemnifying such indemnified
party, shall contribute to the amount paid or payable by such indemnified party as a result of such Losses in such proportion as is appropriate to reflect the relative fault of USWS on the one hand and of such Selling Holder on the other in
connection with the statements or omissions which resulted in such Losses, as well as any other relevant equitable considerations; provided, however, that in no event shall such Selling Holder be required to contribute an aggregate
amount in excess of the dollar amount of proceeds (net of Selling Expenses) received by such Selling Holder from the sale of Registrable Securities giving rise to such indemnification less the amount of any damages that such Selling Holder has
otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. The relative fault of USWS on the one hand and each Selling Holder on the other shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact has been made by, or relates to, information supplied by such party, and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and equitable if contributions pursuant to this paragraph were to be determined by pro rata
allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the first sentence of this paragraph. The amount paid by an indemnified party as a result of the Losses referred to in the
first sentence of this paragraph shall be deemed to include any legal and other expenses reasonably incurred by such indemnified party in connection with investigating or defending any Loss which is the subject of this paragraph. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation. 

(e)    Other Indemnification. The provisions of this Section 2.8 shall be in addition to
any other rights to indemnification or contribution which an indemnified party may have pursuant to law, equity, contract or otherwise. 
 
Section 2.9    Rule 144 Reporting. With a view to making available the benefits of certain rules and regulations of the Commission that may permit the sale of the Registrable Securities to the public
without registration, USWS agrees to use its commercially reasonable efforts to: 
 (a)    Make and keep public
information regarding USWS available, as those terms are understood and defined in Rule 144, at all times from and after the date hereof; 

  
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 (b)    File with the Commission in a timely manner all reports and other
documents required of USWS under the Securities Act and the Exchange Act at all times from and after the date hereof; 

(c)    So long as a Holder, together with its Affiliates, owns any Registrable Securities, (i) unless otherwise
available at no charge by access electronically to the Commission’s EDGAR filing system (or any successor system), furnish to such Holder forthwith upon request a copy of the most recent annual or quarterly report of USWS, and such other
reports and documents so filed as such Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing such Holder to sell any such securities without registration and (ii) to the extent accurate, furnish
to such Holder upon reasonable request a written statement of USWS that it has complied with the reporting requirements of Rule 144; and 

(d)    Provide opinion(s) of counsel as may be reasonably necessary in order for a Holder to avail itself of Rule 144 to
allow such Holder to sell any Registrable Securities without registration, and remove, or cause to be removed, the notation of any restrictive legend on such Holder’s book-entry account maintained by USWS’s transfer agent, and bear all
costs associated with the removal of such legend in USWS’s books. 
 Section 2.10    Transfer or Assignment
of Registration Rights. The rights to cause USWS to register Registrable Securities granted to the Purchasers by USWS under this Article II may be transferred or assigned by each Purchaser to one or more transferee(s)
or assignee(s) of such Registrable Securities or securities convertible, redeemable or exchangeable for Registrable Securities (including the Purchased Securities), in each case, who (a) (i) are Affiliates of such Purchaser, or (ii) hold,
collectively with its or their Affiliates, after giving effect to such transfer or assignment, at least $10.0 million of Registrable Securities, and (b) who assume in writing responsibility for the obligations of such Purchaser under this
Agreement with respect to the securities so transferred. USWS shall be given written notice prior to any said transfer or assignment, stating the name and address of each such transferee and identifying the securities with respect to which such
registration rights are being transferred or assigned. 

Section 2.11    Aggregation of Registrable Securities. All Registrable
Securities held or acquired by Persons who are Affiliates of one another shall be aggregated together for the purpose of determining the availability of any rights under this Agreement. In addition, all other shares of Class A Common Stock held
by a Person and for which such Person has similar registration rights pursuant to an agreement between such Person and USWS shall be aggregated together for the purpose of determining such Person’s rights under this Agreement solely as such
shares relate to minimum quantity requirements contemplated herein; provided that, for the avoidance of doubt, such Class A Common Stock shall not otherwise be deemed Registrable Securities for any other purpose under this Agreement.

 Section 2.12    Going Dark Period. Notwithstanding anything to the contrary in this Agreement, all rights
and obligations under Section 2.1, Section 2.2 and Section 2.3 shall have no force and effect while USWS is not subject to Section 13 or 15(d) of the Exchange Act
(“Going Dark Period”). 
 Section 2.13    IPO Registration. 

 

  
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 (a)    IPO Registration Statement. At any time following a Going
Dark Period, if USWS proposes to file a registration statement on Form S-1 or such other form under the Securities Act providing for the initial public offering of the Class A Common Stock (the
“IPO Registration Statement”), USWS will notify in writing each Holder of the filing at least five (5) Business Days before the initial filing and afford each Holder an opportunity to include in the IPO Registration Statement
all or any part of the Registrable Securities then held by such Holder; provided, however, that USWS shall not be required to include the Registrable Securities of the Holders in such Registration if the Holders do not offer a minimum
of $5.0 million of Registrable Securities. Each Holder desiring to include in the IPO Registration Statement all or part of the Registrable Securities held by such Holder shall, within twenty (20) days after receipt of the above-described
notice from USWS, so notify USWS in writing, and in such notice shall inform USWS of the number of Registrable Securities such Holder wishes to include in the IPO Registration Statement. Any election by any Holder to include any Registrable
Securities in the IPO Registration Statement will not affect the inclusion of such Registrable Securities in the IPO Registration Statement until such Registrable Securities have been sold under the IPO Registration Statement. 

(b)    Right to Terminate IPO Registration. USWS shall have the right to terminate or withdraw the IPO Registration
Statement initiated by it and referred to in this Section 2.13(b) prior to the effectiveness of such Registration whether or not any Holder has elected to include Registrable Securities in such Registration; provided,
however, USWS must provide each Holder that elected to include any Registrable Securities in such IPO Registration Statement prompt written notice of such termination or withdrawal. Furthermore, in the event the IPO Registration Statement is not
declared effective within one hundred twenty (120) days following the initial filing of the IPO Registration Statement, unless a road show for the Underwritten Offering pursuant to the IPO Registration Statement is actually in progress at such
time or such IPO Registration Statement has been terminated or withdrawn pursuant to this Section 2.13(b), USWS shall promptly provide a new written notice to all Holders giving them another opportunity to elect to include
Registrable Securities in the pending IPO Registration Statement. Each Holder receiving such notice shall have the same election rights afforded such Holder as described above in this Section 2.13. 

(c)    Priority of Piggyback Registration. If the Managing Underwriter or Underwriters advises USWS that the total
shares of Class A Common Stock which the Selling Holders and any other Persons intend to include in the IPO Registration Statement exceeds the number which can be sold in such offering without being likely to have an adverse effect on the
offering price, timing or probability of success of the distribution of the Class A Common Stock offered or the market for the Class A Common Stock, then USWS shall furnish notice in writing (including by
e-mail) to the Holders that elected to include any Registrable Securities in such IPO Registration Statement, and the Class A Common Stock to be included in such IPO Registration Statement shall include
the number of shares of Class A Common Stock that such Managing Underwriter or Underwriters advises USWS can be sold without having such adverse effect, with such number to be allocated (i) first, to USWS, (ii) second, pro rata among
the Selling Holders and any Other Holders who have requested participation in the IPO Registration Statement (based, for each such Selling Holder or Other Holder, on the percentage derived by dividing (1) the number of shares of Class A
Common Stock proposed to be sold by such Selling Holder or such Other Holder in such offering; by (2) the aggregate number of shares of Class A Common Stock proposed to be sold by all Selling Holders and all Other Holders in the Piggyback
Registration), and (iii) third, to any other holder of shares of Class A Common Stock with registration rights that are subordinate to the rights of the Holders hereunder. 

  
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 ARTICLE III 

MISCELLANEOUS 
 
Section 3.1    Communications. All notices and demands provided for hereunder shall be in writing and shall be given by registered or certified mail, return receipt requested, facsimile, air courier guaranteeing
overnight delivery or personal delivery to the following addresses: 
 (a)    If to a Purchaser, to such addresses
indicated on Schedule A attached hereto. 
 (b)    If to USWS: 

U.S. Well Services, Inc. 
 1360
Post Oak Blvd., Suite 1800 
 Houston, Texas 77056 

Attention: Kyle O’Neill 
 E-mail: KONeill@uswellservices.com 
 with a copy (which shall not constitute notice) to: 

Porter Hedges LLP 
 Main St.,
36th Floor 
 Houston, Texas 77002 

Attention: Corey C. Brown 

Facsimile: (713) 226-6244 

E-mail: cbrown@porterhedges.com 

or, if to a transferee of a Purchaser, to the transferee at the address provided pursuant to Section 2.10 above. All notices and
communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; upon actual receipt if sent by certified or registered mail, return receipt requested, or regular mail, if mailed; upon actual receipt of
the facsimile copy or e-mail, if sent via facsimile or e-mail; and upon actual receipt when delivered to an air courier guaranteeing overnight delivery. 

Section 3.2    Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the
successors and assigns of each of the parties, including subsequent Holders of Registrable Securities to the extent permitted herein. 
 
Section 3.3    Assignment of Rights. All or any portion of the rights and obligations of any Purchaser under this Agreement may be transferred or assigned by such Purchaser in accordance with
Section 2.10 hereof. 
 Section 3.4    Recapitalization (Exchanges, etc. Affecting the
Registrable Securities). The provisions of this Agreement shall apply to the full extent set forth herein with respect to any and 

  
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all shares of capital stock of USWS or any successor or assign of USWS (whether by merger, consolidation, sale of assets or otherwise) which may be issued in respect of, in exchange for or in
substitution of, the Registrable Securities, and shall be appropriately adjusted for combinations, recapitalizations and the like occurring after the date of this Agreement. 

Section 3.5    Specific Performance. Damages in the event of breach of this
Agreement by a party hereto would be difficult, if not impossible, to ascertain, and it is therefore agreed that each such Person, in addition to and without limiting any other remedy or right it may have, will have the right to an injunction or
other equitable relief in any court of competent jurisdiction, enjoining any such breach, and enforcing specifically the terms and provisions hereof, and each of the parties hereto hereby waives (a) any and all defenses it may have on the
ground of lack of jurisdiction or competence of the court to grant such an injunction or other equitable relief or that a remedy at law would be adequate and (b) any requirement under any law to post securities as a prerequisite to obtaining
equitable relief. The existence of this right will not preclude any such Person from pursuing any other rights and remedies at law or in equity which such Person may have. 

Section 3.6    Counterparts. This Agreement may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same Agreement. 

Section 3.7    Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof. 
 Section 3.8    Governing Law,
Submission to Jurisdiction. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION. Each of the parties hereto irrevocably agrees that any legal action or proceeding with respect to this Agreement or the Transactions shall be brought and determined by courts of
the State of New York located in the Borough of Manhattan, City of New York and the federal courts of the United States of America located in the State of New York, Southern District, and each of the parties hereto irrevocably submits to the
exclusive jurisdiction of such courts solely in respect of any legal proceeding arising out of or related to this Agreement. 
 
Section 3.9    Waiver of Jury Trial. THE PARTIES TO THIS AGREEMENT EACH HEREBY WAIVE, AND AGREE TO CAUSE THEIR AFFILIATES TO WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM,
DEMAND, ACTION OR CAUSE OF ACTION (i) ARISING UNDER THIS AGREEMENT OR (ii) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN
EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY OR OTHERWISE. THE PARTIES TO THIS AGREEMENT EACH HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION

  
 20 

 
SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OF A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE
CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 
 Section 3.10    Severability of
Provisions. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions hereof or affecting or impairing the validity or enforceability of such provision in any other jurisdiction. 
 
Section 3.11    Entire Agreement. This Agreement and the Purchase Agreement are intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the
agreement and understanding of the parties hereto in respect of the subject matter contained herein or therein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein or therein with respect
to the rights granted by USWS set forth herein or therein. This Agreement, the Purchase Agreement and the Confidentiality Agreement supersede all prior agreements and understandings between the parties with respect to such subject matter. 

Section 3.12    Term; Amendment. This Agreement shall automatically terminate and be of no further force and
effect on the date on which there are no Registrable Securities. This Agreement may be amended only by means of a written amendment signed by USWS and the Holders of a majority of the then outstanding Registrable Securities; provided,
however, that no such amendment shall materially and adversely affect the rights of any Holder hereunder without the consent of such Holder. 

Section 3.13    No Presumption. In the event any claim is made by a party
relating to any conflict, omission, or ambiguity in this Agreement, no presumption or burden of proof or persuasion shall be implied by virtue of the fact that this Agreement was prepared by or at the request of a particular party or its counsel.

 Section 3.14    Obligations Limited to Parties to Agreement. Each of the parties hereto covenants, agrees
and acknowledges that no Person other than the Purchasers, Selling Holders, their respective permitted assignees and USWS shall have any obligation hereunder and that, notwithstanding that one or more of USWS and the Purchasers may be a corporation,
partnership or limited liability company, no recourse under this Agreement or under any documents or instruments delivered in connection herewith or therewith shall be had against any former, current or future director, officer, employee, agent,
general or limited partner, manager, member, stockholder or Affiliate of any of USWS, the Purchasers, Selling Holders or their respective permitted assignees, or any former, current or future director, officer, employee, agent, general or limited
partner, manager, member, stockholder or Affiliate of any of the foregoing, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any applicable law, it being expressly agreed and acknowledged that no
personal liability whatsoever shall attach to, be imposed on or otherwise by incurred by any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of USWS, the
Purchasers, Selling Holders or any of their respective assignees, or any former, current or future director, officer, employee, agent, general or limited partner, manager, member, 

  
 21 

 
stockholder or Affiliate of any of the foregoing, as such, for any obligations of USWS, the Purchasers, Selling Holders or their respective permitted assignees under this Agreement or any
documents or instruments delivered in connection herewith or therewith or for any claim based on, in respect of or by reason of such obligation or its creation, except in each case for any assignee of the Purchasers or a Selling Holder hereunder.

 Section 3.15    Interpretation. Article and Section references in this
Agreement are references to the corresponding Article and Section to this Agreement, unless otherwise specified. All references to instruments, documents, contracts and agreements are references to such instruments, documents, contracts and
agreements as the same may be amended, supplemented and otherwise modified from time to time, unless otherwise specified. The word “including” shall mean “including but not limited to.” Whenever any determination, consent or
approval is to be made or given by a Purchaser under this Agreement, such action shall be in such Purchaser’s sole discretion unless otherwise specified. 

Section 3.16    No Inconsistent Agreements; Additional Rights. If USWS hereafter enters into a registration
rights agreement with a third party with terms more favorable than those set forth herein with respect to Holders of shares of Class A Common Stock, this Agreement shall, to the extent so requested by any such Holders, be amended so as to
provide such Holders with substantially the same material terms as provided to such other third party. 
 [Signature Pages Follow]

  
 22 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above. 
  

			
	U.S. WELL SERVICES, INC.
		
	By:	 	 /s/ Kyle O’Neill

	Name:	 	Kyle O’Neill
	Title:	 	Chief Financial Officer

 [Signatures continue on following page.] 

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	CRESTVIEW III USWS, L.P.
		
	By:	 	Crestview III USWS GenPar, LLC, its general partner
		
	By:	 	 /s/ Ross A. Oliver

	Name:	 	Ross A. Oliver
	Title:	 	General Counsel

 [Signatures continue on following page.] 

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	CRESTVIEW III USWS TE, LLC
		
	By:	 	 /s/ Ross A. Oliver

	Name:	 	Ross A. Oliver
	Title:	 	General Counsel

 [Signatures continue on following page.] 

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	LNV CORPORATION
		
	By:	 	 /s/ Jacob Cherner

	Name:	 	Jacob Cherner
	Title:	 	Executive Vice President

 [Signatures continue on following page.] 

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	LPP MORTGAGE, INC.
		
	By:	 	 /s/ Jacob Cherner

	Name:	 	Jacob Cherner
	Title:	 	Executive Vice President

 [Signatures continue on following page.] 

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	REGIMENT CAPITAL SPECIAL SITUATIONS FUND V., L.P.
		
	By:	 	 /s/ Richard Miller

	Name:	 	Richard Miller
	Title:	 	Authorized Signatory

 [Signatures continue on following page.] 

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	DAVID J MATLIN
		
	By:	 	 /s/ David J Matlin

	Name:	 	David J Matlin

 [Signatures continue on following page.] 

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	PETER SCHOELS
		
	By:	 	 /s/ Peter Schoels

	Name:	 	Peter Schoels

 [Signatures continue on following page.] 

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	GREENBLATT PARTNERS LP
		
	By:	 	 /s/ Jeffrey Greenblatt

		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	[Signatures continue on following page.]

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	JASON CAPONE
		
	By:	 	 /s/ Jason Capone

	Name:	 	Jason Capone
	
	[Signatures continue on following page.] 

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	JAMES MCCARTNEY
		
	By:	 	 /s/ James McCartney

	Name:	 	James McCartney

 [Signatures continue on following page.] 

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	KEN CAMPBELL
		
	By:	 	 /s/ Ken Campbell

	Name:	 	Ken Campbell

 [Signatures continue on following page.] 

  
 [Signature Page to
Registration Rights Agreement] 

 
			
	GREG ETHRIDGE
		
	By:	 	 /s/ Greg Ethridge

	Name:	 	Greg Ethridge

 [Signatures continue on following page.] 

  
 [Signature Page to
Registration Rights Agreement] 

 Schedule A 

Purchasers 
 Crestview III USWS,
L.P. 
 c/o Crestview Advisors, L.L.C. 
 590 Madison Avenue,
42nd Floor 
 New York, New York 10022 

Attention: Adam J. Klein, Ross A. Oliver 
 E-mail: aklein@crestview.com; roliver@crestview.com 
 with a copy (which shall not constitute notice) to: 

Vinson & Elkins L.L.P. 
 1001 Fannin Street, Suite 2500

 Houston, Texas 77002 
 Attention: E. Ramey Layne, James M.
Garrett 
 Email: rlayne@velaw.com; jgarrett@velaw.com 

Crestview III USWS TE, LLC  

c/o Crestview Advisors, L.L.C. 

590 Madison Avenue, 42nd Floor 

New York, New York 10022 

Attention: Adam J. Klein, Ross A. Oliver 

E-mail: aklein@crestview.com; roliver@crestview.com 

with a copy (which shall not constitute notice) to: 

Vinson & Elkins L.L.P. 

1001 Fannin Street, Suite 2500 

Houston, Texas 77002 
 Attention:
E. Ramey Layne, James M. Garrett 
 Email: rlayne@velaw.com; jgarrett@velaw.com 

Regiment Capital Special Situations Fund V, L.P. 
 c/o TCW
Direct Lending Group 
 1251 Avenue of the Americas, Suite 4700 

New York, NY 10020 
 Attention:    Richard
Miller 
 E-mail:    richard.miller@tcw.com 

David J Matlin 
 600 Fifth Avenue; 22nd Floor 

New York, New York 10022 
 Peter Schoels 

1025 Morse Blvd 
 West Palm Beach FL 33404 

  
 Schedule A

 Greenblatt Partners LP 

14 East 60th Street Suite 600 
 New York, NY 10022 

Jason Capone 
 260 park avenue South; #9j 

New York, New York 10010 
 James McCartney 

95 Sebonac Road 
 South Hampton, NY 11968 

Ken Campbell 
 16620 Parkland Dr. 

Shaker Heights OH 44120 
 Tim O’Connor 

1835 Port Carlow Place 
 Newport Beach CA 92660 

Greg Ethridge 
 585 Weed Street 

New Canaan, CT 06840 
 LNV Corporation 

LPP Mortgage, Inc. 
 c/o CLMG Corp. 

7195 Dallas Parkway 
 Plano, Texas 75024 

Attention: James Erwin, President 

E-mail: jerwin@clmgcorp.com 

with a copy (which shall not constitute notice) to: 
 Melissa
Cobb 
 SVP/Corporate Counsel 
 6000 Legacy Dr. 

Plano, TX 75024 
 E-mail:
MCobb@BealService.com 

  
 Schedule AEX-10.1

 Exhibit 10.1 

PURCHASE AGREEMENT 
 among

 U.S. WELL SERVICES, INC., 

THE PURCHASERS PARTY HERETO 

and 
 (Solely for the purposes of
Section 5.01) 
 LNV CORPORATION and LPP MORTGAGE, INC. 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	1	
			
	 Section 1.01
	 	Definitions	  	 	1	
	 Section 1.02
	 	Accounting Procedures and Interpretation	  	 	5	
		
	 ARTICLE II AGREEMENT TO SELL AND PURCHASE
	  	 	6	
			
	 Section 2.01
	 	Authorization of Sale of the Purchased Securities	  	 	6	
	 Section 2.02
	 	Sale and Purchase	  	 	6	
	 Section 2.03
	 	Closing	  	 	6	
	 Section 2.04
	 	Conditions to Closing	  	 	6	
	 Section 2.05
	 	USWS Deliveries	  	 	7	
	 Section 2.06
	 	Purchasers’ Deliveries	  	 	8	
	 Section 2.07
	 	Independent Nature of the Purchasers’ Obligations and Rights	  	 	8	
	 Section 2.08
	 	Further Assurances	  	 	9	
	 Section 2.09
	 	Use of Proceeds	  	 	9	
		
	 ARTICLE III REPRESENTATIONS AND WARRANTIES AND COVENANTS RELATED TO USWS
	  	 	9	
			
	 Section 3.01
	 	Corporate Existence	  	 	9	
	 Section 3.02
	 	Capitalization and Valid Issuance of Purchased Securities	  	 	10	
	 Section 3.03
	 	USWS SEC Documents	  	 	11	
	 Section 3.04
	 	Operations in the Ordinary Course	  	 	12	
	 Section 3.05
	 	Litigation	  	 	12	
	 Section 3.06
	 	No Conflicts; Compliance with Laws	  	 	12	
	 Section 3.07
	 	Authority, Enforceability	  	 	13	
	 Section 3.08
	 	Approvals	  	 	13	
	 Section 3.09
	 	Investment Company Status	  	 	13	
	 Section 3.10
	 	Certain Fees	  	 	13	
	 Section 3.11
	 	Books and Records; Sarbanes-Oxley Compliance	  	 	13	
	 Section 3.12
	 	Listing and Maintenance Requirements	  	 	14	
	 Section 3.13
	 	Insurance	  	 	14	
	 Section 3.14
	 	Pre-Closing Covenants of USWS	  	 	14	
	 Section 3.15
	 	Disclosure of Transactions	  	 	14	
		
	 ARTICLE IV REPRESENTATIONS AND WARRANTIES AND COVENANTS OF THE PURCHASERS
	  	 	14	
			
	 Section 4.01
	 	Existence	  	 	14	
	 Section 4.02
	 	Authorization, Enforceability	  	 	14	
	 Section 4.03
	 	No Breach	  	 	15	
	 Section 4.04
	 	Certain Fees	  	 	15	
	 Section 4.05
	 	Unregistered Securities	  	 	15	
	 Section 4.06
	 	Short Selling	  	 	16	
	 Section 4.07
	 	Lock-Up Agreement	  	 	16	

  
 i 

							
	 ARTICLE V OTHER COVENANTS
	  	 	16	
			
	 Section 5.01
	 	Preemptive Rights	  	 	16	
	 Section 5.02
	 	Issuances of New Equity Securities	  	 	17	
	 Section 5.03
	 	Amendments to Series A Preferred Stock and Preferred Warrants.	  	 	17	
	 Section 5.04
	 	Director Designation Rights.	  	 	18	
	 Section 5.05
	 	TCW Series B Preferred Voting.	  	 	18	
		
	 ARTICLE VI INDEMNIFICATION, COSTS AND EXPENSES
	  	 	18	
			
	 Section 6.01
	 	Indemnification by USWS	  	 	18	
	 Section 6.02
	 	Indemnification by the Purchasers	  	 	19	
	 Section 6.03
	 	Indemnification Procedure	  	 	19	
	 Section 6.04
	 	Tax Treatment of Indemnification Payments	  	 	20	
		
	 ARTICLE VII TERMINATION
	  	 	20	
			
	 Section 7.01
	 	Termination	  	 	20	
	 Section 7.02
	 	Certain Effects of Termination	  	 	21	
		
	 ARTICLE VIII MISCELLANEOUS
	  	 	21	
			
	 Section 8.01
	 	Expenses	  	 	21	
	 Section 8.02
	 	Interpretation	  	 	21	
	 Section 8.03
	 	Survival of Provisions	  	 	21	
	 Section 8.04
	 	No Waiver; Modifications in Writing	  	 	22	
	 Section 8.05
	 	Binding Effect; Assignment	  	 	22	
	 Section 8.06
	 	Non-Disclosure	  	 	23	
	 Section 8.07
	 	Communications	  	 	23	
	 Section 8.08
	 	Removal of Legend	  	 	23	
	 Section 8.09
	 	Entire Agreement	  	 	24	
	 Section 8.10
	 	Governing Law; Submission to Jurisdiction	  	 	24	
	 Section 8.11
	 	Waiver of Jury Trial	  	 	24	
	 Section 8.12
	 	Execution in Counterparts	  	 	24	
	 Section 8.13
	 	Recapitalizations, Exchanges, Etc. Affecting the Purchased Securities	  	 	25	
	 Section 8.14
	 	Certain Tax Matters	  	 	25	

 SCHEDULE A – Schedule of Purchasers 

EXHIBIT A – Form of Certificate of Designations for the Series B Preferred Stock 

EXHIBIT B – Form of Registration Rights Agreement 

  
 ii 

 PURCHASE AGREEMENT 

This PURCHASE AGREEMENT, dated as of March 31, 2020 (this “Agreement”), is entered into by and among U.S. Well Services,
Inc., a Delaware corporation (“USWS”), each of the purchasers set forth on Schedule A hereto (the “Purchasers”), and, solely for the purposes of Section 5.01, LNV Corporation and LPP
Mortgage, Inc. (collectively, the “Lenders”). 
 RECITALS: 

WHEREAS, USWS desires to sell the Purchased Securities (as defined below) and the Purchasers desire to purchase from USWS the Purchased
Securities, in accordance with the provisions of this Agreement; 
 WHEREAS, U.S. Well Services, LLC, a direct wholly-owned subsidiary of
USWS Holdings (as defined below), a partially-owned subsidiary of USWS, has entered into the Term Loan Amendment (as defined below), providing for, among other things, the delivery of 1,050 shares of Series B Preferred Stock (as defined below) to
the Lenders; and 
 WHEREAS, USWS has agreed to provide the Purchasers with certain registration rights with respect to the shares of
Class A Common Stock underlying the Purchased Securities acquired pursuant hereto. 
 NOW THEREFORE, in consideration of the mutual
covenants and agreements set forth herein and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, USWS and each of the Purchasers, severally and not jointly, hereby agree as follows: 

ARTICLE I 

DEFINITIONS 
 
Section 1.01    Definitions. As used in this Agreement, the following terms have the meanings indicated: 

“Affiliate” means, with respect to a specified Person, any other Person, directly or indirectly controlling, controlled by or
under direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, “controlling,” “controlled by” and “under common control
with”) means the power to direct or cause the direction of the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; provided however, that USWS and the
Purchasers shall not be considered Affiliates for purposes of this Agreement. 
 “Agreement” has the meaning set forth in
the introductory paragraph of this Agreement. 
 “Allocated Purchase Price” means with respect to each Purchaser, the
dollar amount set forth opposite such Purchaser’s name under the heading “Allocated Purchase Price” on Schedule A hereto. 

“Basic Documents” means, collectively, this Agreement, the Certificate of Designations and the Registration Rights Agreement.

 “Board” means the board of directors of USWS. 

  
 1 

 “Business Day” means any day other than a Saturday, Sunday, any federal
legal holiday or day on which banking institutions in the State of New York or State of Texas are authorized or required by Law or other governmental action to close. 

“Certificate of Designations” shall have the meaning specified in Section 2.04(b)(iii). 

“Class A Common Stock” means the Class A Common Stock, par value $0.0001 per share, of USWS. 

“Class B Common Stock” means the Class B Common Stock, par value $0.0001 per share, of USWS. 

“Class F Common Stock” shall have the meaning specified in Section 3.02(a). 

“CLMG Corp.” means CLMG Corp., a Texas corporation. 

“Closing” shall have the meaning specified in Section 2.03(a). 

“Closing Date” shall have the meaning specified in Section 2.03(b). 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Conversion Shares” means the Class A Common Stock issuable upon conversion of the Series B Preferred Stock. 

“Credit Facilities” shall have the meaning specified in Section 3.02(d). 

“Crestview” means Crestview III USWS, L.P., a Delaware limited partnership, and Crestview III USWS TE, LLC, a Delaware
limited liability company. 
 “Delaware LLC Act” shall have the meaning specified in
Section 3.02(d). 
 “Delaware LP Act” shall have the meaning specified in
Section 3.02(e). 
 “Delaware Corporations Act” means the General Corporation Law of the State of
Delaware. 
 “Election Period” shall have the meaning specified in Section 5.01(b). 

“Eligible Purchaser” shall have the meaning specified in Section 5.01(a). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations of the
SEC promulgated thereunder. 
 “Exempt Issuance” means any equity securities issued (i) in connection with any public
offering pursuant to an effective registration statement under the Securities Act following which such securities are listed on the NASDAQ or any other national securities exchange, (ii) to any existing or prospective employee, advisor,
consultant or director of USWS or any of its subsidiaries or upon the conversion or exercise of securities convertible into or containing options or rights to acquire equity securities pursuant to options or stock awards granted by the Board,
including for the avoidance of doubt, any issuances pursuant to the USWS 2018 Stock Incentive Plan, in each case as incentive compensation for such employees, advisors, consultants or directors, (iii) as consideration to the seller for the
acquisition of any Person by USWS or any of its subsidiaries by merger, amalgamation or purchase of substantially all of the 

  
 2 

 
assets or capital stock of such Person, (iv) in connection with any split, subdivision, dividend or distribution in respect of the Class A Common Stock, (v) to banks or similar
financial institutions, equipment lessors or real property lessors pursuant to a debt financing, equipment leasing or real property leasing transaction in the ordinary course of business of USWS or any of its subsidiaries or any amendment to the
definitive agreements related thereto, (vi) to suppliers or third party service providers in connection with the provision of goods or services pursuant to transactions approved by the Board, (vii) upon the conversion, exercise or exchange
of any convertible security in accordance with its terms, including the Series A Preferred Stock, Series B Preferred Stock and Warrants, (viii) in connection with any exchange of Class B Common Stock, and a corresponding number of LLC
Units, for shares of Class A Common Stock pursuant to the USWS Holdings LLC Agreement, or (ix) to any Eligible Purchaser under the terms of Section 5.01. 

“First Notice” shall have the meaning specified in Section 5.01(b). 

“GAAP” means generally accepted accounting principles in the United States of America. 

“Governmental Authority” means, with respect to a particular Person, any country, state, county, city and political
subdivision in which such Person or such Person’s Property is located or which exercises valid jurisdiction over any such Person or such Person’s Property, and any court, agency, department, commission, board, bureau or instrumentality of
any of them and any monetary authority which exercises valid jurisdiction over any such Person or such Person’s Property. Unless otherwise specified, all references to Governmental Authority herein with respect to USWS means a Governmental
Authority having jurisdiction over USWS, its Subsidiaries or any of their respective Properties. 
 “Indemnified Party”
shall have the meaning specified in Section 6.03. 
 “Indemnifying Party” shall have the meaning
specified in Section 6.03. 
 “Law” means any federal, state, local or foreign order, writ,
injunction, judgment, settlement, award, decree, statute, law (including common law), rule or regulation. 
 “Lien” means
any mortgage, claim, encumbrance, pledge, lien (statutory or otherwise), security agreement, conditional sale or trust receipt or a lease, consignment or bailment, preference or priority, assessment, deed of trust, charge, easement, servitude or
other encumbrance upon or with respect to any property of any kind. 
 “LLC Units” shall have the meaning specified in
Section 3.02(d). 
 “Material Adverse Effect” means a material adverse effect on the business,
properties, financial condition, stockholders’ equity or results of operations of USWS, the validity of the Purchased Securities or the legal authority or ability of USWS to perform in all material respects its obligations under this Agreement.

 “Matlin” means David J Matlin. 

“NASDAQ” means the NASDAQ Capital Market. 

“New Securities” means any preferred stock, Class A Common Stock, or security of USWS that is convertible into,
exercisable or exchangeable for, or which otherwise entitles the holder thereof to acquire, Class A Common Stock. 
 “Outside
Date” shall have the meaning specified in Section 7.01(c). 

  
 3 

 “Over-Allotment Amount” shall have the meaning specified in
Section 5.01(b). 
 “Permitted Transfer” means a Transfer of all or any portion of Purchased
Securities to any Affiliate, any limited partner of a Purchaser or any of its Affiliates, or any managed account, investment fund, or other vehicle that is managed or sponsored by the manager or sponsor of a Purchaser, but only if the transferee, to
the extent such transferee becomes a direct holder of any Purchased Securities, agrees in writing prior to such Transfer for the express benefit of USWS (with a copy thereof to be furnished to USWS) to be bound by the transferor’s obligations
hereunder with respect to the applicable Purchased Securities. 
 “Person” means any individual, corporation, company,
voluntary association, partnership, joint venture, trust, limited liability company, unincorporated organization, government or any agency, instrumentality or political subdivision thereof or any other form of entity. 

“Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible.

 “Proposed Purchaser” shall have the meaning specified in Section 5.01(a). 

“Purchased Securities” means, with respect to each Purchaser, the number of shares of Series B Preferred Stock as set forth
opposite such Purchaser’s name on Schedule A hereto. 
 “Purchaser Lock-Up
Period” shall have the meaning specified in Section 4.07. 
 “Purchaser Related Parties”
shall have the meaning specified in Section 6.01. 
 “Purchasers” has the meaning set forth in
the introductory paragraph of this Agreement. 
 “Redemption Shares” means the Class A Common Stock issuable upon
redemption of the Series B Preferred Stock. 
 “Registration Rights Agreement” means the Registration Rights Agreement, to
be entered into on the date hereof, between USWS and the Purchasers in substantially the form attached hereto as Exhibit B. 

“Representatives” means, with respect to a specified Person, the officers, directors, managers, employees, agents, counsel,
accountants, investment bankers and other representatives of such Person. 
 “Requesting Purchaser” shall have the meaning
specified in Section 5.01(b). 
 “SEC” means the United States Securities and Exchange
Commission. 
 “Securities Act” means the Securities Act of 1933, as amended from time to time, and the rules and
regulations of the SEC promulgated thereunder. 
 “Series A Certificate of Designations” shall have the meaning specified
in Section 5.03. 
 “Series A Preferred Stock” means the Series A Redeemable Convertible
Preferred Stock having the terms set forth in that certain Certificate of Designations of the Corporation dated May 24, 2019. 

“Series B Preferred Stock” means the Series B Redeemable Convertible Preferred Stock having the terms set forth in the
Certificate of Designations. 

  
 4 

 “Short Sales” means, without limitation, all “short sales”
as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, whether or not against the box, and forward sale contracts, options, puts, calls, short sales, “put equivalent positions” (as defined in Rule 16a-1(h) under the Exchange Act) and similar arrangements, and sales and other transactions through non-U.S. broker dealers or foreign regulated brokers. 

“Subsidiary” means, as to any Person, any corporation or other entity of which: (i) such Person or a Subsidiary of such
Person is a general partner or manager; (ii) at least a majority of the outstanding equity interest having by the terms thereof ordinary voting power to elect a majority of the board of directors or similar governing body of such corporation or
other entity (irrespective of whether or not at the time any equity interest of any other class or classes of such corporation or other entity shall have or might have voting power by reason of the happening of any contingency) is at the time
directly or indirectly owned or controlled by such Person or one or more of its Subsidiaries; or (iii) any corporation or other entity as to which such Person consolidates for accounting purposes. 

“TCW” means Regiment Capital Special Situations Fund V, L.P., a Delaware limited partnership. 

“Transfer” shall have the meaning specified in Section 4.07. 

“Term Loan Amendment” shall have the meaning specified in Section 2.09. 

“Term Loan Credit Agreement” shall have the meaning specified in Section 2.09. 

“Underlying Preferred Shares” shall have the meaning specified in Section 3.02(g). 

“USWS” has the meaning set forth in the introductory paragraph of this Agreement. 

“USWS Bylaws” shall have the meaning specified in Section 2.05(d). 

“USWS Charter” shall have the meaning specified in Section 2.04(b)(iii). 

“USWS Financial Statements” shall have the meaning specified in Section 3.03(a). 

“USWS Holdings” shall have the meaning specified in Section 3.02(d). 

“USWS Holdings LLC Agreement” means that certain Amended and Restated Limited Liability Company Agreement of USWS Holdings,
LLC, dated as of November 9, 2018, as amended. 
 “USWS Related Parties” shall have the meaning specified in
Section 6.02. 
 “USWS SEC Documents” shall have the meaning specified in
Section 3.03(a). 
 “Warrants” shall have the meaning specified in
Section 3.02(b). 
 Section 1.02    Accounting Procedures and Interpretation.
Unless otherwise specified herein, all accounting terms used herein shall be interpreted, all determinations with respect to accounting matters hereunder shall be made, and all USWS Financial Statements and certificates and reports as to financial
matters required to be furnished to the Purchasers hereunder shall be prepared, in accordance with GAAP applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto or, in the case of unaudited financial
statements, as permitted by Form 10-Q promulgated by the SEC) and in compliance as to form in all material respects with applicable accounting requirements and with the published rules and regulations of the SEC with respect thereto. 

  
 5 

 ARTICLE II 

AGREEMENT TO SELL AND PURCHASE 

Section 2.01    Authorization of Sale of the Purchased Securities. USWS has
authorized the issuance and sale to the Purchasers of the Purchased Securities on the terms and subject to the conditions set forth in this Agreement. 

Section 2.02    Sale and Purchase. Subject to the terms and conditions hereof, USWS hereby agrees to issue and
sell to each Purchaser, free and clear of any and all Liens (other than the transfer restrictions under applicable federal and state securities laws and other than those arising under the Certificates of Designations or the Delaware Corporations
Act), and each Purchaser, severally and not jointly, hereby agrees to purchase from USWS, such number of Purchased Securities on such dates as set forth on Schedule A, and each Purchaser agrees to pay USWS its Allocated Purchase Price with
respect to such Purchased Securities. For the avoidance of doubt, the Allocated Purchase Price shall be the consideration for all Purchased Securities to be acquired by the applicable Purchaser at the Closing (as defined below). 

Section 2.03    Closing 

(a)    Closing Location. Subject to the terms and conditions hereof, the consummation of the purchase and sale of
the Purchased Securities hereunder (the “Closing”) shall take place remotely via overnight courier, electronic transmission of related documentation (such as by use of .pdf), on March 31, 2020 following the delivery,
satisfaction or, to the extent permitted, waiver by the appropriate party of each of the items set forth in Sections 2.04, 2.05 and 2.06. Except as otherwise expressly provided herein, all proceedings to be taken and all
documents to be executed and delivered by all the parties at the Closing shall be deemed to have been taken and executed simultaneously and no proceedings shall be deemed to have been taken nor documents executed or delivered until all have been
taken, executed and delivered. 
 (b)    General. The date of the Closing shall be the “Closing
Date”. 
 Section 2.04    Conditions to Closing 

(a)    Mutual Conditions. The respective obligations of each party to consummate the purchase and issuance and sale
of the applicable Purchased Securities to be purchased and issued at the Closing shall be subject to the satisfaction on or prior to the Closing Date of each of the following conditions (any or all of which may be waived by a particular party on
behalf of itself in writing, in whole or in part, to the extent permitted by applicable Law): 
 (i)    no statute,
rule, order, decree or regulation shall have been enacted or promulgated, and no action shall have been taken, by any Governmental Authority which temporarily, preliminarily or permanently restrains, precludes, enjoins or otherwise prohibits the
consummation of the transactions contemplated hereby or makes the transactions contemplated hereby illegal; and 

(ii)    there shall not be pending any suit, action or proceeding by any Governmental Authority seeking to restrain,
preclude, enjoin or prohibit the transactions contemplated by this Agreement. 
 (b)    Conditions of the
Purchasers’ Obligations at Closing. The respective obligations of each Purchaser to consummate the purchase of the applicable Purchased Securities to be purchased at the Closing shall be subject to the satisfaction (or waiver
by such Purchaser) on or prior to the Closing Date of each of the following conditions: 

  
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 (i)    the representations and warranties of USWS contained in this
Agreement that are qualified by materiality or Material Adverse Effect shall be true and correct as of the Closing Date as if made on and as of the Closing Date and all other representations and warranties shall be true and correct in all material
respects as of the Closing Date as if made on and as of the Closing Date (except that representations and warranties made as of a specific date shall be required to be true and correct in all material respects as of such date only); 

(ii)    USWS and its Subsidiaries shall have performed and complied, in all material respects, with all of the covenants
and agreements required to be performed and complied with by it hereunder on or prior to the Closing Date; 

(iii)    USWS shall have adopted and filed with the Secretary of State of the State of Delaware the Certificate of
Designations in the form attached hereto as Exhibit A (the “Certificate of Designations”), and the Certificate of Designations shall have become effective as an amendment to USWS’s Second Amended and Restated Certificate
of Incorporation, as amended (the “USWS Charter”); 
 (iv)    USWS shall have delivered, or caused to
be delivered, to the Purchasers, USWS’s closing deliveries described in Section 2.05; 

(v)    USWS shall have filed with the NASDAQ a “Notification Form: Listing of Additional Shares” and
supporting documentation, if required, related to the Underlying Preferred Shares (as defined below), the NASDAQ shall have not raised any objection with respect thereto and USWS shall have furnished to each of the Purchasers evidence of the filing
thereof; and 
 (vi)    USWS, USWS Holdings and U.S. Well Services, LLC shall have executed the Term Loan Amendment on
terms which are reasonably satisfactory to the Purchasers. 
 (c)    Conditions of USWS’s
Obligations at Closing. The obligation of USWS to consummate the sale of the Purchased Securities to be sold at Closing shall be subject to the satisfaction (or waiver by USWS) on or prior to the Closing Date of each of the following conditions:

 (i)    the representations and warranties of each Purchaser contained in this Agreement that are qualified by
materiality shall be true and correct as of the Closing Date as if made on and as of the Closing Date and all other representations and warranties shall be true and correct in all material respects as of the Closing Date as if made on and as of the
Closing Date (except that representations and warranties made as of a specific date shall be required to be true and correct in all material respects as of such date only); 

(ii)    each Purchaser shall have performed and complied, in all material respects, with all of the covenants and
agreements required to be performed and complied with by such Purchaser on or prior to the Closing Date; and 

(iii)    each Purchaser shall have delivered, or caused to be delivered, to USWS such Purchaser’s closing deliveries
as described in Section 2.06 of this Agreement. 

Section 2.05    USWS Deliveries. At the Closing, USWS shall deliver or cause
to be delivered: 
 (a)    evidence of the Purchased Securities credited to book-entry accounts maintained by the
transfer agent of USWS, to be followed, when commercially reasonable, by a certificate or certificates representing the Purchased Securities to be purchased and sold at the Closing and meeting the requirements of the Certificate of Designations,
free and clear of any Liens, other than the transfer 

  
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restrictions under applicable federal and state securities laws and other than those arising under the Certificate of Designations or the Delaware Corporations Act, registered in such names as
each Purchaser shall have designated; 
 (b)    cross-receipts, dated as of the Closing Date, executed by USWS and
delivered to each of the Purchasers certifying as to USWS’s receipt of payments of the Allocated Purchase Price; 

(c)    an officer’s certificate, signed by (i) the Chief Executive Officer and (ii) the Chief Financial
Officer of USWS, in their respective capacities as such, dated as of the Closing Date, stating that the conditions in Sections 2.04(a), 2.04(b)(i), 2.04(b)(ii), and 2.04(b)(iii) have been fully
satisfied; 
 (d)    a certificate of the Secretary or Assistant Secretary of USWS, certifying as to and attaching
(i) board resolutions authorizing the execution and delivery of the Basic Documents and the consummation of the transactions contemplated thereby, including the issuance of the Purchased Securities, (ii) the USWS Charter and all amendments
thereto (including the Certificate of Designation), and USWS’s Amended and Restated Bylaws, as amended (the “USWS Bylaws”), (iii) the Certificate of Designations being in full force and effect and (iv) the incumbency
of the officers authorized to execute the Basic Documents on behalf of USWS, setting forth the name and title and bearing the signature of each of such officers; 

(e)    copies of the USWS Charter and all amendments thereto certified by the Secretary of State of the State of Delaware
as of a recent date; 
 (f)    a certificate of the Secretary of State of the State of Delaware, dated as of a recent
date, that USWS is in good standing in its jurisdiction of incorporation; 
 (g)    the Registration Rights Agreement in
substantially the form attached hereto as Exhibit B, which shall have been duly executed by USWS; and 

(h)    evidence of the issuance of Equity Securities (as defined in the USWS Holdings LLC Agreement) by USWS Holdings
(including a copy of the Second Amendment to the USWS Holdings LLC Agreement) as required by Section 3.5(b) of the USWS Holdings LLC Agreement. 

Section 2.06    Purchasers’ Deliveries. 

(a)    Each of the Purchasers shall (i) pay to USWS its Allocated Purchase Price as of the Closing Date, such
payments to be made by wire transfers of immediately available funds on the Closing Date to an account designated by USWS at least two (2) Business Days (or such shorter period of time as shall be agreeable by all parties hereto) prior to the
Closing Date and (ii) deliver or cause to be delivered the Registration Rights Agreement in substantially the form attached hereto as Exhibit B, which shall have been duly executed by each Purchaser party thereto. 

(b)    Each Purchaser shall deliver or cause to be delivered an officer’s certificate (or, if such Person is a
natural Person, an individual certificate) from each Purchaser, dated as of the Closing Date, stating that the conditions applicable to such Purchaser in Sections 2.04(c)(i) and 2.04(c)(ii) have been fully satisfied.

 Section 2.07    Independent Nature of the Purchasers’
Obligations and Rights. The obligations of each Purchaser under any Basic Document are several and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance of the obligations of
any other Purchaser under any Basic Document. The failure or waiver of performance under any Basic 

  
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Document of any Purchaser by USWS does not excuse performance by any other Purchaser and the waiver of performance of USWS by any Purchaser does not excuse performance by USWS with respect to
each other Purchaser. Nothing contained herein or in any other Basic Document, and no action taken by any Purchaser pursuant thereto, shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of
entity, or create a presumption that the Purchasers are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Basic Documents. Each Purchaser shall be entitled to independently protect
and enforce its rights, including without limitation, the rights arising out of this Agreement or out of the other Basic Documents, and it shall not be necessary for any other Purchaser to be joined as an additional party in any proceeding for such
purpose. 
 Section 2.08    Further Assurances. From time to time after the date hereof, without further
consideration, USWS and the Purchasers shall use their commercially reasonable efforts to take, or cause to be taken, all actions necessary or appropriate to consummate the transactions contemplated by this Agreement. 

Section 2.09    Use of Proceeds. The proceeds from the sale of the Purchased
Securities (net of the expenses related thereto) shall be used by USWS (or USWS Holdings or U.S. Well Services, LLC, as applicable) (a) to pay the extension fee and other costs and expenses associated with or required as a condition to, the
amendment to USWS’s Senior Secured Term Loan Credit Agreement, dated May 7, 2019, by and among USWS Holdings, the guarantors and lenders named therein, and CLMG Corp. (such agreement, the “Term Loan Credit Agreement” and
such amendment, the “Term Loan Amendment”) and (b) for general corporate purposes. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES AND 

COVENANTS RELATED TO USWS 

USWS represents and warrants to and covenants with each Purchaser and Piper Sandler & Co., through its Simmons Energy division, in
its capacity as the financial advisor to the special committee of the Board for the offering contemplated hereby, as follows: 
 
Section 3.01    Corporate Existence. USWS (a) is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Delaware; and (b) has all requisite power and
authority, and has all governmental licenses, authorizations, consents and approvals necessary, to own, lease, use and operate its Properties and carry on its business as its business is now being conducted, except where the failure to obtain such
licenses, authorizations, consents and approvals would not be reasonably likely to have a Material Adverse Effect. Each of USWS’s Subsidiaries has been duly incorporated or formed, as the case may be, and is validly existing and in good
standing under the laws of the state or other jurisdiction of its incorporation or organization, as the case may be, and has all requisite power and authority, and has all governmental licenses, authorizations, consents and approvals necessary, to
own, lease, use or operate its respective Properties and carry on its business as now being conducted, except where the failure to obtain such licenses, authorizations, consents and approvals would not be reasonably likely to have a Material Adverse
Effect. None of USWS nor any of its Subsidiaries are in default in the performance, observance or fulfillment of any provision of, in the case of USWS, the USWS Charter or the USWS Bylaws or, in the case of any Subsidiary of USWS, their respective
certificate of incorporation, certification of formation, bylaws, limited liability company agreement or other similar organizational documents. Each of USWS and its Subsidiaries is duly qualified or licensed and in good standing as a foreign
corporation, limited partnership or limited liability company, as applicable, and is authorized to do business in each jurisdiction in which the ownership or leasing of its respective Properties or the character of its respective operations makes
such qualification necessary, except where the failure to obtain such qualification, license, authorization or good standing would not be reasonably likely to have a Material Adverse Effect. 

  
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 Section 3.02    Capitalization and Valid Issuance of Purchased
Securities. 
 (a)    As of the date of this Agreement, the total number of shares of all classes of capital stock,
each with a par value of $0.0001 per share, which USWS is authorized to issue is 440,000,000 shares, consisting of (i) 430,000,000 shares of common stock, including (A) 400,000,000 shares of Class A Common Stock, (B) 20,000,000
shares of Class B Common Stock, and (C) 10,000,000 shares of Class F Common Stock (the “Class F Common Stock”), and (ii) 10,000,000 shares of preferred stock. 

(b)    As of the date of this Agreement, prior to the issuance and sale of the Purchased Securities at the Closing as
contemplated hereby, the issued and outstanding corporate stock of USWS consists of 62,697,980 shares of Class A Common Stock issued and outstanding, 28,427,968 warrants to purchase shares of Class A Common Stock (the
“Warrants”), including, (i) 25,494,635 warrants issued in connection with USWS’s initial public offering and (ii) 2,933,333 warrants issued in connection with the issuance of the Series A Preferred Stock (such warrants, the
“Preferred Warrants”), 5,500,692 shares of Class B Common Stock issued and outstanding, no shares of Class F Common Stock issued and outstanding and 55,000 shares of Series A Preferred Stock issued and outstanding. As of
the date of this Agreement, all outstanding shares of Class A Common Stock and Class B Common Stock, all outstanding Warrants and all outstanding shares of the Series A Preferred Stock have been duly authorized and validly issued in
accordance with the USWS Charter and USWS Bylaws and are fully paid and nonassessable. 
 (c)    As of the date of this
Agreement, other than the USWS 2018 Stock Incentive Plan, USWS has no equity compensation plans that contemplate the issuance of equity interests of USWS (or securities convertible into or exchangeable for equity interests of USWS). No indebtedness
having the right to vote (or convertible into or exchangeable for securities having the right to vote) on any matters on which USWS stockholders may vote are issued or outstanding. Except for the Warrants, the Series A Preferred Stock, and as
contemplated by the USWS Charter and the USWS Holdings LLC Agreement, including the Class B Common Stock and LLC Units (as defined below), there are no outstanding or authorized (i) options, warrants, preemptive rights, subscriptions,
calls, rights of first refusal, or other rights, convertible or exchangeable securities or written agreements obligating USWS or any of its Subsidiaries to issue, transfer or sell any equity interest in, USWS or securities convertible into or
exchangeable for such equity interests, (ii) obligations of USWS or any of its Subsidiaries to repurchase, redeem or otherwise acquire any equity interests of USWS or any such securities or agreements listed in
clause (i) of this sentence or (iii) proxy agreements or voting trusts or similar agreements to which USWS or any of its Subsidiaries is a party with respect to the voting of the equity interests of USWS. Except as set
forth in the USWS SEC Documents or as contemplated by this Agreement, USWS has not entered into any agreements regarding the registration of any equity securities of USWS under the Securities Act. 

(d)    As of the date of this Agreement, except as disclosed in the USWS SEC Documents, neither USWS nor any of its
Subsidiaries owns any shares of capital stock or other securities of, or interest in, any other Person, or is obligated to make any capital contribution to or any other investment in any other Person, other than with respect to USWS’s
obligations under the USWS Holdings LLC Agreement. As of the date of this Agreement, USWS owns a sole managing member interest in USWS Holdings, LLC, a Delaware limited liability company (“USWS Holdings”), and 54,440,374 USWS
Holdings Units (“LLC Units”); such sole managing member interest and LLC Units are duly authorized and validly issued in accordance with the USWS Holdings LLC Agreement and are fully paid (to the extent required under the USWS
Holdings LLC Agreement) and non-assessable (except in the case except as such nonassessability may be affected by matters described in Sections 18-303, 18-607 and 18-804 of the Delaware Limited Liability
Company Act (the “Delaware LLC Act”)) and such sole managing member 

  
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interest and LLC Units are owned by USWS free and clear of all Liens (except for such restrictions as may exist under applicable Law and except for such Liens as may be imposed under (i) the
Term Loan Credit Agreement and (ii) the ABL Credit Agreement dated as of May 7, 2019 among USWS, USWS Holdings, U.S. Well Services, LLC, the lenders party thereto, Bank of America, N.A., as administrative agent, and the other parties
thereto (the facilities described in clauses (i) and (ii) above, collectively, the “Credit Facilities”), or the organizational documents of such Subsidiaries, as applicable). As of the date of
this Agreement, USWS Holdings owns all of the shares of capital stock or other securities of, or interest in, each of its Subsidiaries, which are listed on Exhibit 21 to USWS’s most recent Form 10-K filing with the SEC. 

(e)    As of the date of this Agreement, (i) all of the issued and outstanding equity interests of each of the
Subsidiaries of USWS Holdings are owned, directly or indirectly, by USWS Holdings free and clear of any Liens (except for such restrictions as may exist under applicable Law and except for such Liens as may be imposed under the Credit Facilities or
the organizational documents of such Subsidiaries, as applicable), and all such ownership interests have been duly authorized, validly issued and are fully paid (to the extent required in the organizational documents of such Subsidiaries, as
applicable) and non-assessable (except as such nonassessability may be affected by matters described in Sections 17-303, 17-607 and 17-804 of the Delaware Revised Uniform Limited Partnership Act (the
“Delaware LP Act”) and Sections 18-303, 18-607 and 18-804 of the Delaware LLC Act) and (ii) except as disclosed in the USWS SEC Documents, neither USWS nor any of its Subsidiaries owns any shares of capital stock or other
securities of, or interest in, any other Person, or is obligated to make any capital contribution to or any other investment in any other Person. 

(f)    The Purchased Securities being purchased by each of the Purchasers hereunder will be duly authorized by USWS
pursuant to the USWS Charter and the Certificate of Designations prior to the Closing and, when issued and delivered by USWS to such Purchaser against payment therefor in accordance with the terms of this Agreement and the terms of the Purchased
Securities, will be validly issued, fully paid and non-assessable and will be free of preemptive rights or any Liens and restrictions on transfer, other than (i) restrictions on transfer under the
Certificate of Designations or this Agreement and under applicable state and federal securities laws and (ii) such Liens as are created by such Purchaser or its Affiliates. 

(g)    71,590,909 shares of Class A Common Stock, which are issuable upon conversion or redemption of the Series B
Preferred Stock (the “Underlying Preferred Shares”) have been duly authorized and reserved pursuant to the USWS Charter and the Certificate of Designations and, upon issuance and delivery by USWS to such Purchaser in accordance with
this Agreement and the terms of the Purchased Securities, will be duly authorized, validly issued, fully paid and non-assessable and will be free of any preemptive rights or any Liens and restrictions on
transfer, other than (i) restrictions on transfer under the Certificate of Designations or this Agreement and under applicable state and federal securities laws and (ii) such Liens as are created by such Purchaser or its Affiliates. 

Section 3.03    USWS SEC Documents. 

(a)    Since December 31, 2019, USWS has filed with the SEC all forms, reports, schedules and statements required to
be filed by it under the Exchange Act or the Securities Act (all such documents collectively the “USWS SEC Documents”). The USWS SEC Documents, including, without limitation, any audited or unaudited financial statements and any
notes thereto or schedules included therein (the “USWS Financial Statements”), at the time filed (except to the extent corrected by a subsequently filed USWS SEC Document filed prior to the date hereof) (i) did not include any
untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein (in the light of the circumstances under which they were made) not misleading, (ii) complied in all material respects with
the 

  
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applicable requirements of the Exchange Act and the Securities Act, as applicable and (iii) complied as to form in all material respects with applicable accounting requirements and with the
published rules and regulations of the SEC with respect thereto. 
 (b)    The historical financial statements
(including the related notes and supporting schedules) of USWS and its Subsidiaries included or incorporated by reference in the USWS SEC Documents comply as to form in all material respects with the requirements of Regulation S-X under the Securities Act and present fairly in all material respects the financial condition, results of operations and cash flows of the entities purported to be shown thereby, at the dates and for the periods
indicated and have been prepared in conformity with GAAP applied on a consistent basis throughout the periods involved, except to the extent described therein. 

(c)    KPMG LLP is an independent, registered public accounting firm with respect to USWS and has not resigned or been
dismissed as independent public accountants of USWS as a result of or in connection with any disagreement with USWS on a matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure. Except as disclosed
in the USWS SEC Documents, since the date of the most recent balance sheet of USWS reviewed or audited by KPMG LLP, USWS has not been advised of (i) any significant deficiencies or material weakness in the design or operation of internal
controls that are reasonably likely to adversely affect USWS’s ability to record, process, summarize and report financial information and (ii) any fraud, whether or not material, that involves management or other employees who have a
significant role in USWS’s internal controls over financial reporting. 
 Section 3.04    Operations in the
Ordinary Course. Except as set forth in or contemplated by the USWS SEC Documents, since the date of USWS’s most recent Form 10-K filing with the SEC, USWS and its Subsidiaries have conducted their respective businesses in the ordinary
course, consistent with past practice, and there has been no (a) acquisition or disposition of any material asset by USWS or any of its Subsidiaries or any contract or arrangement therefor, other than acquisitions or dispositions for fair value
in the ordinary course of business, acquisitions or dispositions as disclosed in the USWS SEC Documents or (b) material change in USWS’s accounting principles, practices or methods. 

Section 3.05    Litigation. Except as set forth in the USWS SEC Documents,
there is no action, suit, or proceeding pending or, to USWS’s knowledge, threatened against or affecting any of USWS or its Subsidiaries or any of their respective officers, directors, properties or assets, which (a) questions the validity
of this Agreement or the Basic Documents or the right of USWS to enter into this Agreement or the Basic Documents or the right to consummate the transactions contemplated by the Basic Documents or thereby or (b) individually or in the
aggregate, would be reasonably likely to result in a Material Adverse Effect. 
 Section 3.06    No Conflicts;
Compliance with Laws. The execution, delivery and performance by USWS of the Basic Documents and compliance by USWS with the terms and provisions hereof and thereof, and the issuance and sale by USWS of the Purchased Securities, does not and
will not (a) assuming the accuracy of the representations and warranties of the Purchasers contained herein and their compliance with the covenants contained herein, violate any provision of any Law or permit having applicability to USWS or any
of its Subsidiaries or any of their respective Properties, (b) conflict with or result in a violation or breach of any provision of the USWS Charter, the USWS Bylaws or other organizational documents of USWS or any organizational documents of
any of USWS’s Subsidiaries, (c) require any consent, approval or notice under or result in a violation or breach of or constitute (with or without due notice or lapse of time or both) a default (or give rise to any right of termination,
cancellation or acceleration) under any contract, agreement, instrument, obligation, note, bond, mortgage, license, loan or credit agreement to which USWS or any of its Subsidiaries is a party or by which USWS or any of its Subsidiaries or any of
their respective 

  
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Properties may be bound or (d) result in or require the creation or imposition of any Lien upon or with respect to any of the Properties now owned or hereafter acquired by USWS or any of its
Subsidiaries, except in the case of clauses (a), (c) and (d) where any such conflict, violation, default, breach, termination, cancellation, failure to receive consent, approval or notice, or acceleration
with respect to the foregoing provisions of this Section 3.06 would not be, individually or in the aggregate, reasonably likely to result in a Material Adverse Effect. 

Section 3.07    Authority, Enforceability. USWS has all necessary corporate
power and authority to execute, deliver and perform its obligations under the Basic Documents, and the execution, delivery and performance by USWS of the Basic Documents has been duly authorized by all necessary action on the part of USWS. All
corporate action required to be taken by the USWS for the authorization, issuance, sale and delivery of the Purchased Securities, the execution, delivery and performance of the Basic Documents by the USWS, and the consummation of the transactions
contemplated by the Basic Documents shall have been validly taken. This Agreement has been duly and validly authorized, executed and delivered by USWS and constitutes and, when executed and delivered by USWS the other Basic Documents will be duly
and validly authorized, executed and delivered by USWS and will constitute the legal, valid and binding obligations of USWS, enforceable in accordance with their terms, except as such enforceability may be limited by bankruptcy, insolvency,
fraudulent transfer and similar laws affecting creditors’ rights generally or by general principles of equity and except as the rights to indemnification may be limited by applicable law. No approval from the holders of USWS’s Class A
Common Stock, Class B Common Stock, Series A Preferred Stock or Warrants is required in connection with USWS’s issuance and sale of the Purchased Securities to the Purchasers. 

Section 3.08    Approvals. Except for the approvals required by the SEC in connection with any registration
statement filed under the Registration Rights Agreement and for approvals that have already been obtained, no authorization, consent, approval, waiver, license, qualification or written exemption from, nor any filing, declaration, qualification or
registration with, any Governmental Authority or any other Person is required in connection with the execution, delivery or performance by USWS of any of the Basic Documents, except for (a) the filing of the Certificate of Designations in the
office of the Secretary of State of Delaware or the filing with the SEC of a Current Report on Form 8-K and (b) where the failure to receive such authorization, consent, approval, waiver, license, qualification or written exemption from, or to
make such filing, declaration, qualification or registration would not, individually or in the aggregate, be reasonably likely to have a Material Adverse Effect. 

Section 3.09    Investment Company Status. USWS is not and, immediately after
the sale of the Purchased Securities and the application of the net proceeds from such sale will not be, required to register as an “investment company” or a company controlled by an “investment company” within the
meaning of the Investment Company Act of 1940, as amended. 
 Section 3.10    Certain Fees. Except for the
fees payable to Piper Sandler & Co., through its Simmons Energy division, in its capacity as the financial advisor to the special committee of the Board, no fees or commissions are or will be payable by USWS to brokers, finders or
investment bankers with respect to the sale of any of the Purchased Securities or the consummation of the transactions contemplated by this Agreement. USWS agrees that it will indemnify and hold harmless each Purchaser from and against any and all
claims, demands, or liabilities for broker’s, finder’s, placement, or other similar fees or commissions incurred by USWS or alleged to have been incurred by USWS in connection with the sale of the Purchased Securities or the consummation
of the transactions contemplated by this Agreement. 
 Section 3.11    Books
and Records; Sarbanes-Oxley Compliance. USWS makes and keeps accurate books and records. There is and has been no failure on the part of USWS or any of USWS’s directors or officers, in their capacities as such, to comply in all material
respects with the provisions of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith. 

  
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 Section 3.12    Listing and Maintenance Requirements. As of
the Closing, the Class A Common Stock is listed on the NASDAQ, and USWS has not received any notice of delisting that is in effect as of the date of this Agreement. 

Section 3.13    Insurance. USWS and its Subsidiaries are insured by insurers
of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which they are engaged. USWS does not have any reason to believe that it or any Subsidiary will not be able to
renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business. 

Section 3.14    Pre-Closing Covenants of USWS. From and after the date
of this Agreement and until the Closing hereunder, USWS will use commercially reasonable efforts to conduct its business in the ordinary course of business, preserve intact its existence and business organization and goodwill and present business
relationships with all material customers, suppliers, licensors, distributors and others having significant business relationships with USWS, to the extent such relationships are beneficial to the USWS and its business. 

Section 3.15    Disclosure of Transactions. On or before 5:30 p.m., New York
City time, on or before the fourth Business Day following the date of this Agreement, USWS shall issue a press release or file a Current Report on Form 8-K describing the terms and conditions of the transactions contemplated by this Agreement and
the Basic Documents. 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES AND 

COVENANTS OF THE PURCHASERS 

Each Purchaser, severally and not jointly, hereby represents and warrants and covenants to USWS as follows: 

Section 4.01    Existence. Such Purchaser, if a non-natural Person, is duly organized and validly existing and in good standing under the laws of its state of formation, with all necessary power and authority to own properties and to conduct its business as
currently conducted. 
 Section 4.02    Authorization, Enforceability. Such Purchaser has all necessary
legal power and authority to enter into, deliver and perform its obligations under this Agreement and the Basic Documents to which such Purchaser is or will be a party. The execution, delivery and performance by such Purchaser of this Agreement and
the Basic Documents to which such Purchaser is or will be a party and the consummation by it of the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary legal action, and no further consent or
authorization of such Purchaser is required. This Agreement and the Basic Documents to which such Purchaser is or will be a party have been duly executed and delivered by such Purchaser and constitute or, when executed by such Purchaser, will
constitute legal, valid and binding obligations of such Purchaser; provided that, the enforceability thereof may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws relating to or affecting
creditors’ rights generally and by general principles of equity and except as the rights to indemnification may be limited by applicable law (regardless of whether such enforceability is considered in a proceeding in equity or at law). 

  
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 Section 4.03    No Breach.
The execution, delivery and performance of this Agreement and the Basic Documents by such Purchaser and the consummation by such Purchaser of the transactions contemplated hereby or thereby will not (a) conflict with or result in a breach or
violation of any of the terms or provisions of, or constitute a default under, any material agreement to which such Purchaser is a party or by which such Purchaser is bound or to which any of the property or assets of such Purchaser is subject,
(b) if such Person is a non-natural Person, conflict with or result in any violation of the provisions of the organizational documents of such Purchaser or (c) violate any statute, order, rule or
regulation of any court or governmental agency or body having jurisdiction over such Purchaser or the property or assets of such Purchaser, except in the case of clauses (a) and (c), for such conflicts, breaches,
violations or defaults as would not have a material adverse effect on the ability to consummate the transactions contemplated by this Agreement and the Basic Documents. 

Section 4.04    Certain Fees. No fees or commissions are or will be payable by such Purchaser to brokers,
finders or investment bankers with respect to the purchase of any of the Purchased Securities or the consummation of the transactions contemplated by this Agreement. Such Purchaser agrees, severally and not jointly with any other Purchaser, that it
will indemnify and hold harmless USWS from and against any and all claims, demands or liabilities for broker’s, finder’s, placement, or other similar fees or commissions incurred by such Purchaser or alleged to have been incurred by such
Purchaser in connection with the purchase of the Purchased Securities or the consummation of the transactions contemplated by this Agreement. 

Section 4.05    Unregistered Securities. 

(a)    Accredited Investor Status; Sophisticated Purchasers. Such Purchaser is an “accredited investor”
within the meaning of Rule 501 under the Securities Act and is able to bear the risk of its investment in Purchased Securities, the Conversion Shares and the Redemption Shares. Such Purchaser has such knowledge and experience in financial and
business matters that it is capable of evaluating the merits and risks of the purchase of the Purchased Securities, the Conversion Shares and the Redemption Shares. 

(b)    Information. Such Purchaser and its Representatives have been furnished with all materials relating to the
business, finances and operations of USWS that have been requested and materials relating to the offer and sale of the Purchased Securities that have been requested by such Purchaser and its Representatives. Such Purchaser and its Representatives
have been afforded the opportunity to ask questions of USWS. Neither such inquiries nor any other due diligence investigations conducted at any time by any Purchaser and Representatives shall modify, amend or affect such Purchaser’s right
(i) to rely on USWS’s representations and warranties contained in Article III above or (ii) to indemnification or any other remedy based on, or with respect to the accuracy or inaccuracy of, or compliance
with, the representations, warranties, covenants and agreements in this Agreement, or any Basic Document. Such Purchaser understands that the purchase of the Purchased Securities involves a high degree of risk. Such Purchaser has sought such
accounting, legal and tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition of the Purchased Securities. 

(c)    Cooperation. Such Purchaser shall cooperate reasonably with USWS to provide any information necessary for any
applicable securities filings required to be made by USWS. 
 (d)    Legends. Such Purchaser understands that the
Purchased Securities will bear a restrictive legend substantially in the form as set forth in the Certificate of Designations. 

(e)    Purchase Representation. Such Purchaser is purchasing the Purchased Securities for its own account and not with a
view to distribution in violation of any securities laws. Such Purchaser 

  
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has been advised and understands that none of the Purchased Securities, the Conversion Shares or the Redemption Shares have been registered under the Securities Act or under the “blue
sky” laws of any jurisdiction and may be resold only if registered pursuant to the provisions of the Securities Act (or if eligible, pursuant to the provisions of Rule 144 promulgated under the Securities Act or pursuant to another
available exemption from the registration requirements of the Securities Act). Such Purchaser has been advised and understands that USWS, in issuing the Purchased Securities, is relying upon, among other things, the representations and warranties of
such Purchaser contained in this Article IV in concluding that such issuance is a “private offering” and is exempt from the registration provisions of the Securities Act. 

(f)    Rule 144. Such Purchaser understands that there is no public trading market for the Purchased Securities, that none
is expected to develop and that the Purchased Securities must be held indefinitely unless and until the Purchased Securities, the Conversion Shares or the Redemption Shares, as applicable, are registered under the Securities Act or an exemption from
registration is available. Such Purchaser has been advised of and is aware of the provisions of Rule 144 promulgated under the Securities Act. 

(g)    Reliance by USWS. Such Purchaser understands that the Purchased Securities are being offered and sold in reliance
on a transactional exemption from the registration requirements of federal and state securities laws and that USWS is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and understandings of such
Purchaser set forth herein in order to determine the applicability of such exemptions and the suitability of such Purchaser to acquire the Purchased Securities, the Conversion Shares and the Redemption Shares. 

Section 4.06    Short Selling. Such Purchaser has not engaged in any Short Sales involving Class A Common
Stock owned by it between the time it first began discussions with USWS about the transaction contemplated by this Agreement and the date of execution of this Agreement. 

Section 4.07    Lock-Up Agreement.
Without the prior written consent of USWS, except in the case of a Permitted Transfer or as otherwise specifically provided in this Agreement, each Purchaser will not, during the period commencing on the date hereof and ending sixty (60) days
after the date of the Closing (such period, the “Purchaser Lock-Up Period”) (a) offer, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to
sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any Class A Common Stock or any of its Purchased Securities or (b) enter into any swap or other transaction or
arrangement that transfers or that is designed to, or that might reasonably be expected to, result in the transfer to another, in whole or in part, any of the economic consequences of ownership of its Purchased Securities, whether any such
transaction described in clause (a) or (b) above (any such transaction described in clauses (a) and (b), a “Transfer”) is to be settled by delivery of
Class A Common Stock or such other securities, in cash or otherwise. 
 ARTICLE V 

OTHER COVENANTS 
 
Section 5.01    Preemptive Rights. 
 (a)    Except with respect to any Exempt
Issuance, prior to USWS issuing any New Securities following the Closing to a proposed purchaser (the “Proposed Purchaser”), each Purchaser and Lender (together with its Affiliates) that continues to hold outstanding shares of
Series B Preferred Stock at such time (each, an “Eligible Purchaser”) shall have the right to purchase the number of New Securities as provided in this Section 5.01. 

  
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 (b)    USWS shall give each Eligible Purchaser at least ten
(10) Business Days’ prior notice (the “First Notice”) of any proposed issuance of New Securities, which notice shall set forth in reasonable detail the proposed terms and conditions thereof and shall offer to each Eligible
Purchaser (or their designated Affiliates) the opportunity to purchase its Pro Rata Share (which Pro Rata Share shall be calculated as of the date of such notice) of the New Securities at the same price, on the same terms and conditions and at the
same time as the New Securities are proposed to be issued by USWS. If any Eligible Purchaser wishes to exercise such Eligible Purchaser’s preemptive rights, such Eligible Purchaser must do so by delivering an irrevocable written notice to USWS
within five (5) Business Days after delivery of the First Notice by USWS (the “Election Period”), which notice shall state the dollar amount of New Securities such Eligible Purchaser or its Affiliates (each a
“Requesting Purchaser”) would like to purchase up to a maximum amount equal to such Eligible Purchaser’s Pro Rata Share of the total offering amount plus the additional dollar amount of New Securities such Requesting Purchaser
would like to purchase in excess of its Pro Rata Share (the “Over-Allotment Amount”), if any, if other Eligible Purchasers do not elect to purchase their full Pro Rata Share of the New Securities. The rights of each Requesting
Purchaser to purchase a dollar amount of New Securities in excess of each such Requesting Purchaser’s Pro Rata Share of the New Securities shall be based on the relative Pro Rata Shares of the New Securities of those Requesting Purchasers
desiring Over-Allotment Amounts. For the purposes of this Section 5.01, references to “Pro Rata Share” shall refer to the percentage ownership that is obtained by dividing the number of shares of
Class A Common Stock beneficially owned by the applicable Purchaser and its Affiliates on a fully-diluted basis by the total number of Class A Common Stock beneficially owned by all Purchasers and their Affiliates on a fully-diluted basis.

 (c)    If not all of the New Securities are subscribed for by the Eligible Purchasers, taking into account any
Over-Allotment Amounts, USWS shall have the right, but shall not be required, to issue and sell the unsubscribed portion of the New Securities to the Proposed Purchaser at any time during the ninety (90) day period following the termination of
the Election Period pursuant to the terms and conditions set forth in the First Notice. USWS may, in its reasonable discretion, impose such other reasonable and customary terms and procedures such as setting a closing date, rounding the number of
New Securities covered by this Section 5.01 to the nearest whole share and requiring customary closing deliveries in connection with any issuance subject to this Section 5.01. 

Section 5.02    Issuances of New Equity Securities. For a period of six (6) months following the Closing
Date, USWS shall not, and shall cause its Subsidiaries not to, without the prior written consent of Crestview and TCW, issue (a) any securities convertible into or exchangeable or exercisable for Class A Common Stock or
(b) Class A Common Stock, in each case, at a purchase price, conversion price or exercise price, as the case may be, lower than $0.308. Notwithstanding anything to the contrary in this Agreement, this Section 5.02
shall not apply to (i) issuances of equity securities to a director, officer or employee of USWS or any of its Subsidiaries, including, for the avoidance of doubt, any issuances pursuant to the USWS 2018 Stock Incentive Plan, (ii) any
exchange of Class B Common Stock, and a corresponding number of LLC Units, for shares of Class A Common Stock pursuant to the USWS Holdings LLC Agreement and (iii) issuances in connection with any consolidation, merger, division or
other business combination of USWS. 
 Section 5.03    Amendments to Series A
Preferred Stock and Preferred Warrants. 
 (a)    For a period of twenty-four (24) months following the Closing
Date, USWS shall not, without prior written consent of TCW (a) amend, modify or waive any provision of that certain Certificate of Designations of the Series A Preferred Stock, dated May 24, 2019 (the “Series A Certificate of
Designations”), in a manner that would reduce (or have the effect of reducing) the Conversion Price (as defined therein), or (b) amend, modify or waive any provision of that certain Preferred Warrant Agreement dated May 24, 2019 by
and between USWS and Continental Stock Transfer & Trust Company in a manner that would reduce (or have the effect of reducing) the Warrant Price (as defined therein) of the Preferred Warrants issued thereunder. 

  
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 (b)    Without prior written consent of TCW, for as long as it is the
“beneficial owner” under Rule 13d-3 under the Exchange Act of any shares of Series B Preferred Stock, and Matlin, for as long as he is the “beneficial owner” under Rule 13d-3 under the Exchange Act of any shares of Series B Preferred Stock, USWS, shall not initiate or take of any stockholder vote or similar action that would seek to modify the Authorized Share Amount as of the date
hereof, except in connection with a Change of Control (other than a Change of Control arising solely due to the Class A Common Stock ceasing to be listed or quoted on National Securities Exchange). Capitalized terms used in this
Section 5.03(b) but not defined in this Agreement shall have the meaning given to such term in the Series A Certificate of Designations. 

Section 5.04    Director Designation Rights. Subject to the other provisions
of this Section 5.04, for so long as TCW is the “beneficial owner” under Rule 13d-3 under the Exchange Act of any shares of Class A Common Stock, then the Board or a committee thereof will
nominate, and USWS will use its commercially reasonable efforts to cause the stockholders to elect Ryan Carroll to the Board as a Class III Director at the 2021 annual or special meeting of the stockholders of USWS at which Class III
Directors are to be elected to the Board; provided, however, that USWS shall not be bound by the foregoing provision on or after the date that Ryan Carroll ceases to be employed by TCW or its Affiliates. Nothing in this Section 5.04
shall be deemed to prohibit the Board or USWS from taking any action that at least a majority of the members of the Board determines in good faith may be necessary to (i) comply with any rule or regulation of the SEC or NASDAQ or
(ii) comply with applicable law. 
 Section 5.05    TCW Series B Preferred
Voting. 
 (a)    For all shares of Series B Preferred Stock beneficially owned by TCW, or over which TCW has voting
control, TCW hereby irrevocably and unconditionally agrees with Crestview to provide its written consent or affirmative vote (or cause such written consent or affirmative vote to be provided) pursuant to Section 4 (Voting) of the Series A
Certificate of Designations consistent with how Crestview or its Affiliates provides its written consent or affirmative vote on such matters. 

(b)    TCW agrees that it will not transfer any of its shares of Series B Preferred Stock, whether to an Affiliate, a
third party or otherwise, unless and until such transferee has agreed in writing to be bound by the provisions of this Section 5.05, by execution of a Joinder Agreement in a form reasonably agreed to between Crestview and
TCW. 
 ARTICLE VI 

INDEMNIFICATION, COSTS AND EXPENSES 

Section 6.01    Indemnification by USWS. USWS agrees to indemnify each
Purchaser and its Representatives (collectively, “Purchaser Related Parties”) from, and hold each of them harmless against, any and all losses, actions, suits, proceedings (including any investigations, litigation or inquiries),
demands and causes of action, and, in connection therewith, and promptly upon demand, pay or reimburse each of them for all reasonable costs, losses, liabilities, damages or expenses of any kind or nature whatsoever (including the reasonable fees
and disbursements of counsel and all other reasonable expenses incurred in connection with investigating, defending or preparing to defend any such matter that may be incurred by them or asserted against or involve any of them), whether or not
involving a third party claim, as a result of, arising out of, or in any way related to (i) the failure of any of the representations or warranties made by USWS contained herein to be true and correct in all material respects as of the date
hereof (except with respect to any provisions including the word “material,” “Material Adverse Effect” or words of similar import, with respect to which such representations and warranties must have been true and
correct) or 

  
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(ii) the material breach of any covenants of USWS contained herein, provided that, in the case of the immediately preceding clause (i), such claim for
indemnification is made prior to the expiration of such representation or warranty; provided, however, that for purposes of determining when an indemnification claim has been made, the date upon which a Purchaser Related Party shall have given
notice (stating in reasonable detail the basis of the claim for indemnification) to USWS shall constitute the date upon which such claim has been made. 

Section 6.02    Indemnification by the Purchasers. Each Purchaser agrees, severally and not jointly, to
indemnify USWS and its respective Representatives (collectively, “USWS Related Parties”) from, and hold each of them harmless against, any and all losses, actions, suits, proceedings (including any investigations, litigation or
inquiries), demands and causes of action, and, in connection therewith, and promptly upon demand, pay or reimburse each of them for all reasonable costs, losses, liabilities, damages or expenses of any kind or nature whatsoever (including the
reasonable fees and disbursements of counsel and all other reasonable expenses incurred in connection with investigating, defending or preparing to defend any such matter that may be incurred by them or asserted against or involve any of them),
whether or not involving a third party claim, as a result of, arising out of, or in any way related to (i) the failure of any of the representations or warranties made by such Purchaser contained herein to be true and correct in all material
respects as of the date hereof or (ii) the material breach of any of the covenants of such Purchaser contained herein, provided that, in the case of the immediately preceding clause (i), such claim for indemnification
relating to a breach of any representation or warranty is made prior to the expiration of such representation or warranty; provided, however, that for purposes of determining when an indemnification claim has been made, the date upon which a USWS
Related Party shall have given notice (stating in reasonable detail the basis of the claim for indemnification) to such Purchaser shall constitute the date upon which such claim has been made; provided, further, that the liability of such Purchaser
shall not be greater in amount than such Purchaser’s Allocated Purchase Price. 

Section 6.03    Indemnification Procedure. A claim for indemnification for
any matter not involving a third party claim may be asserted by notice to the party from whom indemnification is sought; provided, however, that failure to so notify the indemnifying party shall not preclude the indemnified party from any
indemnification which it may claim in accordance with this Article VI, except as otherwise provided in Sections 6.01 and 6.02. Promptly after any USWS Related Party or Purchaser Related
Party (hereinafter, the “Indemnified Party”) has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding by a third person, which the Indemnified Party believes in good faith is an
indemnifiable claim under this Agreement, the Indemnified Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement of such action, suit or proceeding, but failure to so
notify the Indemnifying Party will not relieve the Indemnifying Party from any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure. Such notice shall
state the nature and the basis of such claim to the extent then known. The Indemnifying Party shall have the right to defend and settle, at its own expense and by its own counsel, any such matter as long as the Indemnifying Party pursues the same
diligently and in good faith. If the Indemnifying Party undertakes to defend or settle such claim, it shall promptly after such determination, and in no event later than five (5) days, notify the Indemnified Party of its intention to do so, and
the Indemnified Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof and/or the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing
the Indemnifying Party with any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession or control relevant to the claim. Such cooperation of the Indemnified Party shall be
at the cost of the Indemnifying Party. After the Indemnifying Party has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long as the Indemnifying Party diligently pursues such
defense, the Indemnifying Party shall not be liable for any additional legal expenses incurred by the Indemnified Party in connection with any defense or settlement 

  
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of such asserted liability; provided, however, that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the negotiations
of the settlement thereof and (ii) if (A) the Indemnifying Party has, within ten (10) Business Days of when the Indemnified Party provides written notice of a claim, failed (x) to assume the defense or settlement of such claim
and employ counsel or (y) to notify the Indemnified Party of such assumption or (B) if the defendants in any such action include both the Indemnified Party and the Indemnifying Party and counsel to the Indemnified Party shall have
concluded that there may be reasonable defenses available to the Indemnified Party that are different from or in addition to those available to the Indemnifying Party or if the interests of the Indemnified Party reasonably may be deemed to conflict
with the interests of the Indemnifying Party, then the Indemnified Party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate in the defense of such action, with the expenses and fees of
such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party shall not settle any indemnified claim
without the consent of the Indemnified Party, unless the settlement thereof imposes no liability or obligation on, and includes a complete release from liability of, and does not contain any admission of wrong doing by, the Indemnified Party. 

Section 6.04    Tax Treatment of Indemnification Payments. Any indemnification payments made under this
Article VI shall be treated for all tax purposes as an adjustment to the relevant Purchaser’s Allocated Purchase Price except as otherwise required by applicable Law. 

ARTICLE VII 

TERMINATION 
 
Section 7.01    Termination. This Agreement may be terminated at any time: 

(a)    by mutual written consent of USWS and the Purchasers entitled to purchase a majority of the Purchased Securities as
set forth on Schedule A; 
 (b)    by either USWS or the Purchasers if any court of competent jurisdiction in the
United States or other United States Governmental Authority shall have issued a final order, decree or ruling or taken any other final action restraining, enjoining or otherwise prohibiting the transactions contemplated hereby and such order,
decree, ruling or other action is or shall have become final and nonappealable; 
 (c)    by either USWS or any
Purchaser if the Closing has not been consummated by April 15, 2020 (the “Outside Date”); 

(d)    by USWS if (i) there shall have been a breach of any representation or warranty on the part of the Purchasers
set forth in this Agreement or in any other Basic Document, or if any such representation or warranty of the Purchasers shall have become untrue, in either case such that the conditions set forth in Section 2.04(c) would be
incapable of being satisfied by the Outside Date or (ii) there shall have been a breach in any material respect by the Purchasers of any of their respective covenants or agreements hereunder, and with respect to such
clause (i) or (ii) the Purchasers have not cured such breach or inaccuracy within twenty (20) Business Days after receipt of written notice thereof from USWS; provided that USWS is not then in breach of any
of its obligations hereunder; and 
 (e)    by any Purchaser if (i) there shall have been a breach of any
representation or warranty on the part of USWS set forth in this Agreement or in any other Basic Document, or if any such representation or warranty of USWS shall have become untrue, in either case such that the conditions set forth in
Section 2.04(b) would be incapable of being satisfied by the Outside Date or (ii) there shall have been a breach in any material respect by USWS of its covenants or agreements hereunder, and USWS has

  
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not cured such breach or inaccuracy within twenty (20) Business Days after receipt of written notice thereof from the Purchasers; provided that such Purchasers are not then in breach of any
of their obligations hereunder. 
 Section 7.02    Certain Effects of Termination. If this Agreement is
terminated by either USWS or the Purchasers as provided in Section 7.01, except as set forth in Section 8.03, this Agreement shall become null and void and have no further force or effect, but the
parties shall not be released from any liability arising from or in connection with any breach hereof occurring prior to such termination. 

ARTICLE VIII 

MISCELLANEOUS 
 
Section 8.01    Expenses. USWS hereby covenants and agrees to reimburse Crestview Advisors, L.L.C. for its reasonable and documented fees and expenses up to an aggregate amount of $300,000. All other costs and
expenses, including, without limitation, fees and disbursements of counsel, financial advisors and accountants, incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such costs and
expenses, whether or not the Closing has occurred. 
 Section 8.02    Interpretation. Article, Section,
Schedule and Exhibit references in this Agreement are references to the corresponding Article, Section, Schedule or Exhibit to this Agreement, unless otherwise specified. All Exhibits and Schedules to this Agreement are hereby incorporated and made
a part hereof as if set forth in full herein and are an integral part of this Agreement. All references to instruments, documents, contracts and agreements are references to such instruments, documents, contracts and agreements as the same may be
amended, supplemented and otherwise modified from time to time, unless otherwise specified. The word “including” shall mean “including but not limited to” and shall not be construed to limit any general statement
that it follows to the specific or similar items or matters immediately following it. Whenever USWS has an obligation under the Basic Documents, the expense of complying with that obligation shall be an expense of USWS unless otherwise specified.
Any reference in this Agreement to $ shall mean U.S. dollars. Whenever any determination, consent or approval is to be made or given by any Purchaser, such action shall be in such Purchaser’s sole discretion, unless otherwise specified in this
Agreement. If any provision in the Basic Documents is held to be illegal, invalid, not binding or unenforceable, (i) such provision shall be fully severable and the Basic Documents shall be construed and enforced as if such illegal, invalid,
not binding or unenforceable provision had never comprised a part of the Basic Documents, and the remaining provisions shall remain in full force and effect and (ii) the parties hereto shall negotiate in good faith to modify the Basic Documents
so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible. When calculating the
period of time before which, within which or following which any act is to be done or step taken pursuant to the Basic Documents, the date that is the reference date in calculating such period shall be excluded. If the last day of such period is a non-Business Day, the period in question shall end on the next succeeding Business Day. Any words imparting the singular number only shall include the plural and vice versa. The words such as
“herein,” “hereinafter,” “hereof” and “hereunder” refer to this Agreement as a whole and not merely to a subdivision in which such words appear unless the context otherwise
requires. The provision of a Table of Contents, the division of this Agreement into Articles, Sections and other subdivisions and the insertion of headings are for convenience of reference only and shall not affect or be utilized in construing or
interpreting this Agreement. 
 Section 8.03    Survival of Provisions. The
representations and warranties set forth in Sections 3.02(e), 3.02(f), 3.02(g), 3.07, 3.08, 3.10, 4.02, 4.04 and 4.05 hereunder shall survive the execution and
delivery of this Agreement indefinitely, and the other representations and warranties set forth herein shall survive for a period of six (6) months following the Closing Date regardless of any investigation made

  
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by or on behalf of USWS or the Purchasers. The covenants made in this Agreement or any other Basic Document shall survive the Closing and remain operative and in full force and effect regardless
of acceptance of any of the Purchased Securities and payment therefor and repayment, conversion or repurchase thereof. Regardless of any purported general termination of this Agreement, the provisions of Article VI and all
indemnification rights and obligations of USWS and the Purchasers thereunder, Section 7.02 and this Article VIII shall remain operative and in full force and effect as between USWS and the
Purchasers, unless USWS and the Purchasers execute a writing that expressly (with specific references to the applicable Section or subsection of this Agreement) terminates such rights and obligations as between USWS and the Purchasers. 

Section 8.04    No Waiver; Modifications in Writing. 

(a)    Delay. No failure or delay on the part of any party in exercising any right, power or remedy hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The remedies provided for herein are
cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise. 

(b)    Specific Waiver. Except as otherwise provided herein, no amendment, waiver, consent, modification or termination of
any provision of this Agreement or any other Basic Document shall be effective unless signed by each of the parties hereto or thereto affected by such amendment, waiver, consent, modification or termination. Any amendment, supplement or modification
of or to any provision of this Agreement or any other Basic Document, any waiver of any provision of this Agreement or any other Basic Document and any consent to any departure by USWS from the terms of any provision of this Agreement or any other
Basic Document shall be effective only in the specific instance and for the specific purpose for which made or given. Except where notice is specifically required by this Agreement, no notice to or demand on USWS in any case shall entitle USWS to
any other or further notice or demand in similar or other circumstances. Any investigation by or on behalf of any party shall not be deemed to constitute a waiver by the party taking such action of compliance with any representation, warranty,
covenant or agreement contained herein. 
 Section 8.05    Binding Effect;
Assignment. 
 (a)    Binding Effect. This Agreement shall be binding upon USWS, each Purchaser and their respective
successors and permitted assigns. Except as expressly provided in this Agreement, this Agreement shall not be construed so as to confer any right or benefit upon any Person other than the parties to this Agreement and their respective successors and
permitted assigns. 
 (b)    Assignment of Purchased Securities. All or any portion of Purchased Securities purchased
pursuant to this Agreement may be sold, assigned or pledged by the Purchasers, subject to compliance with applicable securities laws, Sections 4.05(f) and 4.06 hereof and the Registration Rights Agreement, and,
except as provided in the Basic Documents, any such assignment shall not affect the rights of the Purchasers hereunder. 

(c)    Assignment of Rights. Each Purchaser’s rights and obligations hereunder (including the right to seek
indemnification) may be transferred or assigned in whole or in part by such Purchaser to any Affiliate of such Purchaser without the consent of USWS or the other parties hereto. Upon any such permitted transfer or assignment, references in this
Agreement to the Purchasers (as they apply to the transferor or assignor, as the case may be) shall thereafter be deemed to include a reference to such transferee or assignee of such Purchaser unless the context otherwise requires. Without the
written consent of USWS, which consent shall not be unreasonably withheld, no portion of the rights and obligations of 

  
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any Purchaser under this Agreement may be assigned or transferred by such Purchaser or such a transferee of Purchased Securities to a Person that is not an Affiliate of such Purchaser. No portion
of the rights and obligations of USWS under this Agreement may be transferred or assigned without the prior written consent of the Purchasers, which consent shall not be unreasonably withheld. 

Section 8.06    Non-Disclosure. USWS, its Subsidiaries and any of
their respective Representatives shall disclose the identity of, or any other information concerning, any Purchaser or any of their Affiliates only after providing such Purchaser a reasonable opportunity to review and comment on such disclosure
(with such comments being incorporated or reflected, to the extent reasonable, in any such disclosure); provided, however, that nothing in this Section 8.06 shall delay any required filing or other disclosure with the SEC,
NASDAQ or any Governmental Authority or otherwise hinder USWS, their Subsidiaries or their Representatives’ ability to timely comply with all laws or rules and regulations of the SEC, NASDAQ or other Governmental Authority. 

Section 8.07    Communications. All notices and demands provided for
hereunder shall be (i) in writing and shall be given by registered or certified mail, return receipt requested, air courier guaranteeing overnight delivery or personal delivery and (ii) via e-mail,
to the following addresses: 
 (a)    If to the Purchasers: 

At such address indicated on Schedule A attached hereto. 

(b)    If to the Lenders: 

At such address indicated on the signature pages attached hereto. 

(c)    If to USWS: 

U.S. Well Services, Inc. 
 1360
Post Oak Boulevard, Suite 1800 
 Houston, Texas 77056 

Attention: Kyle O’Neill 
 E-mail: koneill@uswellservices.com 
 with a copy (which shall not constitute notice) to: 

Porter Hedges LLP 
 1000 Main
St., 36th Floor 
 Houston, Texas 77002 

Attention: Corey C. Brown 
 E-mail: cbrown@porterhedges.com 
 or to such other address as USWS or such Purchaser may designate in writing. All
notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; upon actual receipt if sent by certified or registered mail, return receipt requested, or regular mail, if mailed; upon
actual receipt if sent by overnight courier copy; when receipt is acknowledged, if sent via e-mail; and upon actual receipt when delivered to an air courier guaranteeing overnight delivery. 

Section 8.08    Removal of Legend. Each Purchaser may request USWS to remove the legend described in
Section 4.05(d) from the certificates evidencing the Purchased Securities by submitting to USWS such certificates, together with an opinion of counsel to the effect that such legend is no longer required under the
Securities Act or applicable state laws, as the case may be. USWS shall cooperate with reasonable requests of such Purchaser to effect the removal of such legend. 

  
 23 

 Section 8.09    Entire
Agreement. This Agreement, the other Basic Documents and the other agreements and documents referred to herein are intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the
agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein or the other Basic
Documents with respect to the rights granted by USWS or any of its Affiliates or the Purchasers or any of their Affiliates set forth herein or therein. This Agreement, the other Basic Documents and the other agreements and documents referred to
herein or therein supersede all prior agreements and understandings between the parties with respect to such subject matter. 

Section 8.10    Governing Law; Submission to Jurisdiction. This Agreement, and all claims or causes of action
(whether in contract or tort) that may be based upon, arise out of or relate to this Agreement or the negotiation, execution or performance of this Agreement (including any claim or cause of action based upon, arising out of or related to any
representation or warranty made in or in connection with this Agreement), will be construed in accordance with and governed by the laws of the State of Delaware without regard to principles of conflicts of laws. Any action against any party relating
to the foregoing shall be brought in any federal or state court of competent jurisdiction located within the State of Delaware, and the parties hereto hereby irrevocably submit to the non-exclusive
jurisdiction of any federal or state court located within the State of Delaware over any such action. The parties hereby irrevocably waive, to the fullest extent permitted by applicable Law, any objection which they may now or hereafter have to the
laying of venue of any such dispute brought in such court or any defense of inconvenient forum for the maintenance of such dispute. Each of the parties hereto agrees that a judgment in any such dispute may be enforced in other jurisdictions by suit
on the judgment or in any other manner provided by Law. 

Section 8.11    Waiver of Jury Trial. EACH OF THE PARTIES TO THIS AGREEMENT
EACH HEREBY WAIVES, AND AGREES TO CAUSE ITS AFFILIATES TO WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (i) ARISING UNDER THIS AGREEMENT OR (ii) IN ANY WAY
CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO IN RESPECT OF THIS AGREEMENT OR ANY OF THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER IN CONTRACT, TORT, EQUITY OR
OTHERWISE. EACH OF THE PARTIES TO THIS AGREEMENT HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT THE PARTIES TO THIS AGREEMENT MAY FILE AN ORIGINAL COUNTERPART
OF A COPY OF THIS AGREEMENT WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 

Section 8.12    Execution in Counterparts. This Agreement may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same Agreement. A signed
copy of this Agreement delivered by portable document format (PDF) or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement; provided, however, that each party
hereto shall deliver an original signed copy of this Agreement executed by such party to any other party hereto promptly upon the request of any such other party. 

  
 24 

Section 8.13    Recapitalizations, Exchanges, Etc. Affecting the Purchased
Securities. The provisions of this Agreement shall apply to the full extent set forth herein with respect to any and all equity interests of USWS or any successor or assign of USWS (whether by merger, consolidation, sale of assets or otherwise)
which may be issued in respect of, in exchange for or in substitution of, the Purchased Securities. 

Section 8.14    Certain Tax Matters. 

(a)    USWS shall pay any and all documentary, stamp or similar issue or transfer tax due on (i) the issue of the
Purchased Securities and (ii) the issue of shares of Class A Common Stock upon conversion or redemption of the Purchased Securities. 

(b)    The Purchasers and USWS agree not to treat the Series B Preferred Stock (based on the terms as set forth in the
Certificate of Designations) as “preferred stock” within the meaning of Section 305 of the Code and U.S. Treasury Regulation § 1.305-5 for U.S. federal income tax and withholding tax purposes and shall not take any
position inconsistent with such treatment, including on any applicable U.S. federal income or state tax return or in connection with any audit or other proceeding, except as required by a final “determination” within the meaning of
Section 1313(a) of the Code. USWS agrees that, provided that each Purchaser delivers to USWS a properly executed IRS Form W-9, or similar form sufficient to cause under current Law USWS (including any
paying agent of USWS) to avoid a requirement to withhold on any payments or deemed payments to any such Purchaser, USWS (including any paying agent of USWS) will not withhold on any payments or deemed payments to any such Purchaser. 

[Remainder of Page Left Intentionally Blank] 

  
 25 

 IN WITNESS WHEREOF, the parties hereto execute this Agreement, effective as of the date
first above written. 
  

			
	U.S. WELL SERVICES, INC.
		
	By:	 	 /s/ Kyle O’Neill

	Name:	 	Kyle O’Neill
	Title:	 	Chief Financial Officer

 [Signatures continued on following page.] 

  
 [Signature Page to
Purchase Agreement] 

 
			
	CRESTVIEW III USWS, L.P.
		
	By:	 	Crestview III USWS GenPar, LLC,
		 	its general partner
		
	By	 	 /s/ Ross A. Oliver

	Name:	 	Ross A. Oliver
	Title:	 	General Counsel

 [Signatures continued on following page.] 

  
 [Signature Page to
Purchase Agreement] 

 
			
	CRESTVIEW III USWS TE, LLC
		
	By:	 	 /s/ Ross A. Oliver

	Name:	 	Ross A. Oliver
	Title:	 	General Counsel

 [Signatures continue on following page.] 

  
 [Signature Page to
Purchase Agreement] 

 
			
	REGIMENT CAPITAL SPECIAL SITUATIONS FUND V., L.P.
		
	By:	 	 /s/ Richard Miller

	Name:	 	Richard Miller
	Title:	 	Authorized Signatory

 [Signatures continued on following page.] 

  
 [Signature Page to
Purchase Agreement] 

 
			
	DAVID J MATLIN
		
	By:	 	 /s/ David J Matlin

	Name:	 	David J Matlin

 [Signatures continued on following page.] 

  
 [Signature Page to
Purchase Agreement] 

 
			
	PETER SCHOELS
		
	By:	 	 /s/ Peter Schoels

	Name:	 	Peter Schoels

 [Signatures continued on following page.] 

  
 [Signature Page to
Purchase Agreement] 

 
			
	GREENBLATT PARTNERS LP
		
	By:	 	 /s/ Jeffrey Greenblatt

		
	By:	 	  

	Name:	 	  

	Title:	 	  

 [Signatures continued on following page.] 

  
 [Signature Page to
Purchase Agreement] 

 
			
	JASON CAPONE
		
	By:	 	 /s/ Jason Capone

	Name:	 	Jason Capone

 [Signatures continued on following page.] 

  
 [Signature Page to
Purchase Agreement] 

 
			
	JAMES MCCARTNEY
		
	By:	 	 /s/ James McCartney

	Name:	 	James McCartney

 [Signatures continued on following page.] 

  
 [Signature Page to
Purchase Agreement] 

 
			
	KEN CAMPBELL
		
	By:	 	 /s/ Ken Campbell

	Name:	 	Ken Campbell

 [Signatures continued on following page.] 

  
 [Signature Page to
Purchase Agreement] 

 
			
	TIM O’CONNOR
		
	By:	 	 /s/ Tim O’Connor

	Name:	 	Tim O’Connor

 [Signatures continued on following page.] 

  
 [Signature Page to
Purchase Agreement] 

 
			
	GREG ETHRIDGE
		
	By:	 	 /s/ Greg Ethridge

	Name:	 	Greg Ethridge

 [Signatures continued on following page.] 

  
 [Signature Page to
Purchase Agreement] 

 
			
	Solely for the purposes of Section 5.01
	
	LNV CORPORATION
		
	By:	 	 /s/ Jacob Cherner

	Name:	 	Jacob Cherner
	Title:	 	Executive Vice President
	
	LPP MORTGAGE, INC.
		
	By:	 	 /s/ Jacob Cherner

	Name:	 	Jacob Cherner
	Title:	 	Executive Vice President
	
	Address for Notice:
	
	c/o CLMG Corp.
	7195 Dallas Parkway
	Plano, Texas 75024
	Attention: James Erwin, President
	E-mail: jerwin@clmgcorp.com
	
	with a copy (which shall not constitute notice) to:
	
	Melissa Cobb
	SVP/Corporate Counsel
	6000 Legacy Dr.
	Plano, TX 75024
	E-mail: MCobb@BealService.com

 [Signatures continued on following page.] 

  
 [Signature Page to
Purchase Agreement] 

 Schedule A 
  

									
	 Purchaser
	  	Series B
Preferred
Stock	 	  	Allocated
Purchase Price	 
	Crestview III USWS, L.P. 
c/o Crestview Advisors, L.L.C. 
590 Madison Avenue, 42nd Floor 
New York, New York 10022 
Attention: Adam J. Klein, Ross A. Oliver

E-mail: aklein@crestview.com; roliver@crestview.com	  	 	10,959	 	  	$	10,959,306.91	 
			
	 with a copy (which shall not constitute notice) to:
	  				  			
			
	 Vinson & Elkins L.L.P. 
1001 Fannin Street, Suite 2500 
Houston, Texas 77002 
Attention: E. Ramey
Layne, James M. Garrett 
Email: rlayne@velaw.com; jgarrett@velaw.com
	  				  			
			
	Crestview III USWS TE, LLC 
c/o Crestview Advisors, L.L.C. 
590 Madison Avenue, 42nd Floor 
New York, New York 10022 
Attention: Adam J. Klein, Ross A. Oliver

E-mail: aklein@crestview.com; roliver@crestview.com	  	 	541	 	  	$	540,693.09	 
			
	 with a copy (which shall not constitute notice) to:
	  				  			
			
	 Vinson & Elkins L.L.P. 
1001 Fannin Street, Suite 2500 
Houston, Texas 77002 
Attention: E. Ramey
Layne, James M. Garrett 
Email: rlayne@velaw.com; jgarrett@velaw.com
	  				  			
			
	 Regiment Capital Special Situations Fund V, L.P.

c/o TCW Direct Lending Group

1251 Avenue of the Americas, Suite 4700

New York, NY 10020

Attention: Richard Miller

E-mail: richard.miller@tcw.com 

	  	 	6,500	 	  	$	6,500,000.00	 

  
 Exhibit B-1 

									
	 Purchaser
	  	Series B
Preferred
Stock	 	  	Allocated
Purchase Price	 
	 David J Matlin
	  	 	1,878	 	  	$	1,878,000	 
	 600 Fifth Avenue; 22nd Floor
	  				  			
	 New York, New York 10022
	  				  			
			
	 Peter Schoels
	  	 	229	 	  	$	229,000	 
	 1025 Morse Blvd
	  				  			
	 West Palm Beach FL 33404
	  				  			
			
	 Greenblatt Partners LP
	  	 	500	 	  	$	500,000	 
	 14 East 60th Street Suite 600
	  				  			
	 New York, NY 10022
	  				  			
			
	 Jason Capone
	  	 	113	 	  	$	113,000	 
	 260 park avenue South; #9j
	  				  			
	 New York, New York 10010
	  				  			
			
	 James McCartney
	  	 	4	 	  	$	4,000	 
	 95 Sebonac Road
	  				  			
	 South Hampton, NY 11968
	  				  			
			
	 Ken Campbell
	  	 	113	 	  	$	113,000	 
	 16620 Parkland Dr.
	  				  			
	 Shaker Heights OH 44120
	  				  			
			
	 Tim O’Connor
	  	 	113	 	  	$	133,000	 
	 1835 Port Carlow Place
	  				  			
	 Newport Beach CA 92660
	  				  			
			
	 Greg Ethridge
	  	 	50	 	  	$	50,000	 
	 585 Weed Street
	  				  			
	 New Canaan CT 06840
	  				  			
		  	  
	  
	 	  	  
	  
	 
	 Total
	  	 	21,000	 	  	$	21,000,000.00	 

  
 Exhibit B-2

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