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Exhibit 10.16  

 
 

BASIC ENERGY SERVICES, INC.    
    
    FORM OF RESTRICTED STOCK GRANT AGREEMENT    
    

Grantee:                          
    

        1.    Grant of Stock.    As of the Grant Date
(identified in Section 12 below), Basic Energy Services, Inc. (formerly BES Holding Co.), a Delaware corporation (the "Company"), hereby
grants to the Grantee (identified above), an employee of the Company, the number of shares of the Company's common stock, $0.01 par value per share (the
"Common Stock") identified in Section 12) below (the "Shares"), subject to the terms and
conditions of this agreement (the "Agreement") and the Amended and Restated Basic Energy Services, Inc. 2003 Incentive Plan (the
"Plan"). The Plan is hereby incorporated in this Agreement in its entirety by reference. The Shares, when delivered to Grantee upon expiration of the
vesting period, shall be fully paid and nonassessable. 

        2.    Definitions.    All capitalized terms used herein shall have the meanings set
forth in
the Plan unless otherwise provided herein. Section 12 below sets forth meanings for certain of the capitalized terms used in this Agreement. 

        3.    Vesting Term.    The Shares granted to Grantee hereunder on the Grant Date
(identified
in Section 12 below) will vest in Grantee at the rate of [            %] per year on
each                        
(commencing                        , 200    ).
 

        4.    Grant Price.    No consideration shall be payable by the Grantee to the Company
for the
Shares. 

        5.    Restriction on Shares.    The Shares granted to Grantee hereunder shall be
retained in
the possession of the Company until vested in the Grantee as provided in Sections 3 and 12 hereof. All unvested shares will be forfeited by the Grantee if the Grantee's employment with the Company is
terminated by the Company for "cause" before the Shares are vested or if the Grantee terminates his employment with the Company before the Shares are vested for any reason other than "good cause" or
as a result of a "change of control" as such terms ("cause", "good cause" and "change of control") are defined in the employment agreement in effect between the Grantee and the Company as of the date
hereof. At such time as the vesting period is satisfied, the Shares no longer subject to forfeiture will be delivered to the Grantee. From and after the date of this Grant and prior to any forfeiture
of the Shares, the Grantee shall be entitled to vote the Shares and shall be entitled to receive any cash dividends payable on the Shares. Any stock dividends applicable to the Shares shall be
retained by the Company until the vesting period of the Shares on which the stock dividend was issued is satisfied. 

        6.    Independent Legal and Tax Advice.    Grantee acknowledges that the Company has
advised
Grantee to obtain independent legal and tax advice regarding the grant of the Shares and any disposition of any such Shares. 

        7.    Reorganization of Company.    The existence of the Grant shall not affect in
any way the
right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in Company's capital structure or its business, or
any merger or consolidation of the Company, or any issue or bonds, debentures, preferred or prior preference stock ahead of or affecting the Shares or the rights thereof, or the dissolution or
liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 

        8.    Investment Representation.    Grantee will enter into such written
representations,
warranties and agreements as Company may reasonably request in order to comply with any federal or state securities law. Moreover, any stock certificate for any Shares issued to Grantee hereunder may
contain a legend restricting their transferability as determined by the Company in its discretion. Grantee agrees that Company shall not be obligated to take any affirmative action in order to cause
the issuance or transfer 

 

of
Shares hereunder to comply with any law, rule or regulation that applies to the Shares subject to the Grant. 

        9.    No Guarantee of Employment.    The Grant shall not confer upon Grantee any
right to
continued employment with the Company or any Affiliate thereof. 

        10.    Withholding of Taxes.    The Grantee shall have the responsibility of
discharging all
taxes (state and federal) owed by the Grantee as a result of the Grant. 

        11.    General.    

        (a)    Notices.    All notices under this Agreement shall be mailed or delivered by hand to the parties at their
respective addresses set forth beneath their signatures below or at such other address as may be designated in writing by either of the parties to one another, or to their permitted transferees if
applicable. Notices shall be effective upon request. 

        (b)    Transferability of Grant.    The rights of the Grantee pursuant to this Agreement are not transferable by
Grantee. No right or benefit hereunder shall in any manner be liable for or subject to any debts, contracts, liabilities, obligations or torts of Grantee or any permitted transferee thereof. 

        (c)    Amendment and Termination.    No amendment, modification or termination of the Grant or this Agreement shall be
made at any time without the written consent of Grantee and the Company. 

        (d)    No Guarantee of Tax Consequences.    The Company and the Committee make no commitment or guarantee that any
federal or state tax treatment will apply or be available to any person eligible for benefits under the Grant. The Grantee has been advised and been provided the opportunity to obtain independent
legal and tax advise regarding the grant and exercise of the Grant and the disposition of any Shares acquired thereby. 

        (e)    Severability.    In the event that any provision of this Agreement shall be held illegal, invalid or
unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of the Agreement, and the Agreement shall be construed and enforced as if the
illegal, invalid or unenforceable provision had not been included therein. 

        (f)    Supersedes Prior Agreements.    This Agreement shall supersede and replace all prior agreements and
understandings, oral or written, between the Company and the Grantee regarding the grant of the Shares covered hereby. 

        (g)    Governing Law.    The Grant shall be construed in accordance with the laws of the State of Texas without regard
to its conflict of law provisions, to the extent federal law does not supersede and preempt Texas law. 

        (h)    No Trust or Fund Created.    This Agreement shall not create or be construed to create a trust or separate fund
of any kind or a fiduciary relationship between the Company or any Affiliate and a Grantee or any other Person. To the extent that any Person acquires a right to receive payments from the Company or
any Affiliates pursuant to an Award, such right shall be no greater than the right of any general unsecured creditor of the Company or any Affiliate. 

        (i)    Other Laws.    The Company retains the right to refuse to issue or transfer any Shares if it determines that
the issuance or transfer of such Shares might violate any applicable law or regulation or entitle the Company to recover under Section 16(b) of the Securities Exchange Act of 1934. 

2

 

        12.    Definitions and Other Terms.    The following capitalized terms shall have
those
meanings set forth opposite them: 

	(a)	 	Grantee:	 	 
	

(b)	
 	

Grant Date:	
 	

                        , 200    
	

(c)	
 	

Shares:	
 	

            Shares of the Company's Common Stock
	

(d)	
 	

Vesting:	
 	

The Shares shall vest in [            increments (i.e.,            Shares
on            ,            Shares on            ,
            Shares on            and            Shares
on            ].

3

 

        IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by its duly authorized officer and Grantee has hereunto executed this Agreement as of the same
date, to be effective as of                        , 200    . 

	 	 	BASIC ENERGY SERVICES, INC.
	

 	
 	

By:	
 	

 
	 	 	 	 	

	 	 	Name:	 	 
	 	 	 	 	

	 	 	Title:	 	 
	 	 	 	 	

	

 	
 	

Address for Notices:
	

 	
 	

Basic Energy Services, Inc.

400 West Illinois, Suite 800

Midland, Texas 79701

Fax: (432) 620-5501

Attn: President
	

 	
 	
GRANTEE
	

 	
 	

	

 	
 	

Address for Notices:
	

 	
 	

         

         

          

Fax:

4

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BASIC ENERGY SERVICES, INC. FORM OF RESTRICTED STOCK GRANT AGREEMENT GranteeQuickLinks
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Exhibit 10.18

Execution Copy  

 
 

BES HOLDING CO.    
    
    SHARE EXCHANGE AGREEMENT    
    

        This Share Exchange Agreement (the "Agreement"), dated as of September 22, 2003, is made by and among BES
Holding Co., a Delaware corporation (the "Company"), the undersigned holders (the "Preferred
Stockholders") of issued and outstanding Series A 10% Cumulative Preferred Stock, $0.01 par value, of the Company (the "Series A Preferred
Stock"), as well as their affiliates (the "Affiliate Stockholders", and together with the Preferred Stockholders, the
"Stockholders") who own shares of the Company's common stock, par value $0.01 per share (the "Common
Stock"). 

        WHEREAS, the Preferred Stockholders are collectively the owners of 100% of the issued and outstanding Series A Preferred Stock; and 

        WHEREAS, in connection with the refinancing of certain indebtedness of the Company and its subsidiaries, the lenders have requested that
all of the issued and outstanding Series A 7Preferred Stock be cancelled and retired; and 

        WHEREAS, each of the Preferred Stockholders desires to exchange all of its shares of Series A Preferred Stock, together with
accrued and unpaid dividends thereon, for shares of the Company's common stock, par value $0.01 per share (the "Common Stock"), at an exchange rate of
one share of Common Stock for each $25.79 of outstanding Liquidation Value ($100.00 per share) and accrued but unpaid interest thereon, as of the date of the exchange, it being the intent of the
Company and each Preferred Stockholder that such exchange of shares pursuant to this Agreement (the "Share Exchange") shall satisfy the requirements of
Section 368 of the Internal Revenue Code of 1986, as amended (the "Code"); and 

        WHEREAS, each of the Affiliate Stockholders hereby desires in connection with the Share Exchange to waive their preemptive rights to
purchase Common Stock pursuant to Section 3.7 of the Stockholders' Agreement, dated December 21, 2000, by and among Basic Energy Services, Inc., the DLJ Parties named therein, the
Southwest Parties named therein, Joey D. Fields, Dub W. Harrison and Kenneth V. Huseman, as amended and joined as of the date hereof (the "Stockholders'
Agreement") in connection with the Share Exchange and related Notice to Stockholders dated as of September 22, 2003 issued by the Company pursuant to the Stockholders'
Agreement (the "Notice of Preemptive Rights"); and 

        WHEREAS, each of the Preferred Stockholders hereby desires to evidence that the Shares to be acquired in the Share Exchange shall satisfy
in full any and all rights under the Stockholders Agreement in connection with the Notice of Preemptive Rights, and hereby desires to waive any rights under the Stockholders' Agreement to acquire any
additional shares of Common Stock, and any rights to a Subsequent Notice pursuant to the Stockholders' Agreement, in connection with the Share Exchange or related Notice of Preemptive Rights. 

1

 

        NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto
hereby agree follows: 

 
 

ARTICLE I
  
    REPRESENTATIONS AND WARRANTIES    
    

        Section 1.1.    Representation of the Company.    The Company hereby represents and warrants to each of the
Stockholders as follows: 

        (a)   The
Company is a corporation duly incorporated and validly existing under the laws of Delaware 

        (b)   The
Company has the requisite authority to enter into this Agreement and to perform the Share Exchange and its other obligations under this Agreement, and the Company
has duly executed and delivered this Agreement. 

        (c)   All
filings, approvals and consents necessary for the execution, delivery and performance of this Agreement by the Company have been made or obtained. 

        (d)   This
Agreement constitutes a valid and binding agreement of the Company, enforceable in accordance with its terms. 

        (e)   The
shares of Common Stock to be issued pursuant to the Share Exchange (the "Shares"), when issued in exchange for the
shares of Series A Preferred Stock as set forth in this Agreement, will be duly authorized, validly issued, fully paid and nonassessable. 

        (f)    The
execution, delivery and performance of this Agreement by the Company and the consummation of the transactions contemplated hereby by the Company will not (A)
conflict with or result in a breach of any of the terms and provisions of, or constitute a default (or an event which with notice or lapse of time, or both, would constitute a default) or (other than
the Notice of Preemptive Rights and any applicable subsequent notices pursuant to the Stockholders' Agreement) require consent under the terms of any agreement or instrument to which the Company is a
party or by which the Company is bound or (B) violate or conflict with any provision of any judgment, decree, order, statute, rule or regulation of any court or any public, governmental or
regulatory agency or body having jurisdiction over the Company. 

        (g)   No
consent, approval, authorization, order, registration, filing, qualification, license or permit of or with any court or any public governmental or regulatory agency
or body having jurisdiction over the Company is required for the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby. 

        Section 1.2.    Representations, Warranties and Covenants of Stockholders.    Each Stockholder severally
represents, warrants and covenants to the Company as follows: 

        (a)   With
respect to each Preferred Stockholder: (i) such Stockholder owns the shares of Series A Preferred Stock set forth opposite his name on  Annex A attached hereto, free and clear of all liens,
 encumbrances, options, calls, voting trusts and other charges, and no other person has any
ownership interest in such shares; (ii) such Stockholder is acquiring the Shares offered hereby for its own account, for investment purposes only and not with a view to, or for resale in
connection with, any distribution or public offering thereof within the meaning of the Securities Act of 1933, as amended (the "Act") and applicable
state securities laws; (iii) such Stockholder hereby acknowledges that the issuance of the Shares hereunder is not and will not be registered under the Act, and such Stockholder agrees that
such Stockholder will not sell or otherwise transfer any of the Shares being acquired or received hereunder unless such Shares are registered under the Act or unless an exemption from such
registration is available; (iv) such Stockholder 

2

 

consents
to the placement of a legend on any certificate or other document evidencing the Shares to be received hereunder stating that such Shares have not been registered under the Act and setting
forth or referring to the restrictions on transferability and sale hereof, as well as restrictions pursuant to the applicable Stockholders' Agreement executed by each Stockholder (including the
Amended and Restated Stockholders' Agreement anticipated to be executed as of the date of the Closing); (v) such Stockholder has knowledge, skill and experience in financial, business and
investment matters relating to an investment of this type and is capable of evaluating the merits and risks of such investment and protecting its interest in connection with the acquisition of the
Shares, and such Stockholder understands that the acquisition of the Shares is a speculative investment. 

        (b)   With
respect to each Stockholder: (i) it has the requisite authority to enter into this Agreement and to perform its obligations under this Agreement;
(ii) it has duly executed and delivered this Agreement; (iii) all filings, approvals and consents necessary for the execution, delivery and performance of this Agreement by such
Stockholder have been made or obtained; (iv) this Agreement, when executed and delivered by such Stockholder, will be a valid and binding agreement of such Stockholder, enforceable in
accordance with its terms; (v) the execution, delivery and performance of this Agreement by such Stockholder and the consummation of the transactions contemplated hereby by such Stockholder
will not (A) conflict with or result in a breach of any of the terms and provisions of, or constitute a default (or an event which with notice or lapse of time, or both, would constitute a
default) or (other than the Notice of Preemptive Rights and any applicable subsequent notices pursuant to the Stockholders' Agreement) require consent under the terms of any agreement or instrument to
which such Stockholder is a party or by which such Stockholder may be bound or (B) violate or conflict with any provision of any judgment, decree, order, statute, rule or regulation of any
court or any public, governmental or regulatory agency or body having jurisdiction over such Stockholder; and (vi) no consent, approval, authorization, order, registration, filing,
qualification, license or permit of or with any court or any public governmental or regulatory agency or body having jurisdiction over such Stockholder is required for the execution, delivery and
performance of this Agreement and the consummation of the transactions contemplated hereby. 

        (c)   Each
Stockholder has been furnished by the Company with all information (or provided access to all information) regarding the business and financial condition of the
Company, its expected plans for future business activities, the attributes of the Shares and the merits and risks of an investment in the Shares which such Stockholder has requested or otherwise needs
to evaluate an investment in the Shares. In making the proposed investment decision, such Stockholder is relying solely on investigations
made by the Stockholder and its representatives. The offer to exchange the shares of Series A Preferred Stock, or to waive any preemptive rights to shares of Common Stock, was communicated to
such Stockholder in such a manner that it was able to ask questions of and receive answers from the management of the Company concerning the terms and conditions of the proposed transactions. 

 
 

ARTICLE II
  
    SHARE EXCHANGE    
    

        Section 2.1.    Share Exchange.    

        (a)   At
the Closing (as herein defined), each Stockholder will deliver to the Company one or more stock certificates evidencing the number of shares of Series A
Preferred Stock set forth opposite its name on Annex A, together with stock powers for each such certificate(s) duly endorsed by such Stockholder
and in proper form to permit transfer of such certificate(s) into the name of the Company upon the stock transfer books and records of the Company, against receipt 

3

 

from
the Company of one or more stock certificates evidencing the number of Shares set forth opposite its name on Annex A (or, if the Share Exchange
occurs after October 3, 2003, such other applicable number in excess of the number set forth on Annex A). 

        (b)   At
the Closing, the Company will issue a certificate representing a number of Shares to each of the Stockholders as set forth opposite its name on  Annex A (or, if the Share Exchange occurs after
October 3, 2003, such other applicable number in excess of the number set forth on  Annex A), and (iii) the existing certificates representing the outstanding Series A Preferred Stock
will (following transfer to the
Company) be canceled, and the shares of Series A Preferred Stock will be retired initially to authorized but unissued shares of the Company. 

        Section 2.2.    Waiver of Preemptive Rights.    

        (a)   Each
of the Affiliate Stockholders hereby waives any rights to acquire Common Stock pursuant to Section 3.7 of the Stockholders' Agreement in connection with the
Share Exchange and the Notice of Preemptive Rights; and 

        (b)   Each
of the Preferred Stockholders hereby agrees that the Shares to be acquired in the Share Exchange shall satisfy in full any and all rights under the Stockholders
Agreement in connection with the Notice of Preemptive Rights, and hereby waives any rights under the Stockholders' Agreement to acquire any additional shares of Common Stock, and any rights to a
Subsequent Notice pursuant to the Stockholders' Agreement, in connection with the Share Exchange or related Notice of Preemptive Rights. 

 
 

ARTICLE III
  
    CLOSING    
    

        Section 3.1.    Closing.    The consummation of the Share Exchange contemplated by Article II shall
occur effective immediately prior to or concurrently with the closing of a Credit Agreement among the Company, as a Guarantor, the Company's subsidiaries named therein as Borrowers or Subsidiary
Guarantors, UBS Securities LLC, as Agent, and other Lenders to be named therein (currently anticipated to occur on October 3, 2003), at the offices of Andrews & Kurth L.L.P., 600 Travis,
Suite 4200, Houston, Texas 77002, unless another place or time is agreed upon in writing by the Company (the consummation of such transactions is herein referred to as the
"Closing"). 

 
 

ARTICLE IV
  
    SECURITIES LAW COMPLIANCE    
    

        Section 4.1.    Restricted Securities.    The Shares have not been registered under the Act. Each Stockholder
hereby confirms that it has been informed that the Shares are restricted securities under the Act and may not be resold or transferred unless the Shares are first registered under the Federal
securities laws or unless an exemption from such registration is available. Accordingly, each Stockholder hereby acknowledges that it is prepared to hold the Shares for an indefinite period and that
it is aware that Rule 144 issued under the Act which exempts certain resales of unrestricted securities is not presently available to exempt the resale of the Restricted Shares from the
registration requirements of the Act. 

        Section 4.2.    Restrictions on Disposition of Shares.    The Shares will be subject to the applicable
restrictions under the Stockholders' Agreement executed by the Stockholders. 

4

 

        Section 4.3.    Restrictive Legends.    The stock certificates for the Shares shall be endorsed with the
following restrictive legends: 

          (i)  "The
securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (the "Act"). These securities have been acquired
for investment and not with a view to distribution or release and may not be pledged, transferred or otherwise disposed of without sold an effective registration of such securities under the Act or an
opinion of counsel (which may be counsel for the corporation) in form and substance reasonably satisfactory to the corporation, to the effect that registration is not required under such Act with
respect to such pledge, transfer or other disposition." 

         (ii)  "This
security is subject to certain voting agreements, restrictions on transfer and other terms and conditions set forth in the Amended and Restated Stockholders'
Agreement dated as of October 3, 2003, as the same may be further amended from time to time, a copy of which may be obtained from the corporation at its principal executive offices." 

 
 

ARTICLE V
  
    GENERAL PROVISIONS    
    

        Section 5.1.    Further Assurances.    At any time, and from time to time, each party will execute such
additional instruments and take such action as may be reasonably requested by any other party to confirm or perfect title to any shares of Series A Preferred Stock to be transferred hereunder
or otherwise to carry out the intent and purposes of this Agreement, including, without limitation, giving any consents required under any applicable agreements affecting the parties necessary to
consummate the transactions specified in this Agreement. 

        Section 5.2.    Waivers.    Any failure on the part of any party hereto to comply with any of its obligations,
agreements, or conditions hereunder may be waived in writing by the party to whom such compliance is owed. 

        Section 5.3.    Entire Agreement.    This Agreement constitutes the entire agreement between the parties and
supersedes and cancels any other agreement, representation, or communication, whether oral or written, between the parties hereto relating to the transactions contemplated herein or the subject matter
hereof. 

        Section 5.4.    Headings.    The section and subsection headings in this Agreement are inserted for convenience
only and shall not affect in any way the meaning or interpretation of this Agreement. 

        Section 5.5.    Governing Law.    This Agreement shall be construed under and in accordance with the laws of
the State of Delaware without giving effect to the principles of conflict of laws thereof. 

        Section 5.6.    Amendment.    No amendment of this Agreement shall be effective without the written consent of
any party affected adversely thereby. 

        Section 5.7.    Counterparts.    This Agreement may be executed simultaneously in two or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

        Section 5.8.    Successors and Assigns.    This Agreement shall be binding on the parties hereto and their
permitted successors and assigns. None of the parties hereto shall assign their rights under this Agreement without the prior written consent of the Company. 

        Section 5.9.    Unenforceable Provisions.    If any provision of this Agreement is held to be invalid or
unenforceable by a court of competent jurisdiction, in lieu of such invalid provision there shall be added a provision which is as similar in terms as possible to such invalid provision and which is
valid 

5

 

and
enforceable; such invalid provision shall not affect any other provision of this Agreement, and, as so modified, this Agreement shall remain in full force and effect. 

        Section 5.10.    Facsimile Signature.    This Agreement may be executed by any party by facsimile signature and
shall be valid and binding upon such party notwithstanding the use of a facsimile signature. 

6

 

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

	 	 	BES Holding Co.
	

 	
 	
By:	

/s/  KENNETH V. HUSEMAN      
	 	 	 	
 Kenneth V. Huseman

President
	

 	
 	
PREFERRED STOCKHOLDERS:
	

 	
 	

DLJ Merchant Banking Partners III, L.P.
	

 	
 	

By:	

/s/  ROBERT CABES, JR.      
	 	 	 	

	 	 	Name:	Robert Cabes
	 	 	 	

	 	 	Title:	Attorney in fact
	 	 	 	

	

 	
 	

DLJ Merchant Banking III, Inc., as Advisory General Partner on behalf of DLJ Offshore Partners III, C.V.
	

 	
 	

By:	

/s/  ROBERT CABES, JR.      
	 	 	 	

	 	 	Name:	Robert Cabes
	 	 	 	

	 	 	Title:	Attorney in fact
	 	 	 	

	

 	
 	

DLJ Merchant Banking III, Inc., as Advisory General Partner on behalf of DLJ Offshore Partners III-1, C.V. and as attorney in fact for DLJ Merchant Banking III, L.P., as Associate General Partner of DLJ Offshore Partners III-1, C.V.
	

 	
 	

By:	

/s/  ROBERT CABES, JR.      
	 	 	 	

	 	 	Name:	Robert Cabes
	 	 	 	

	 	 	Title:	Attorney in fact
	 	 	 	

7

 

	

 	
 	

DLJ Merchant Banking III, Inc., as Advisory General Partner on behalf of DLJ Offshore Partners III-2, C.V. and as attorney in fact for DLJ Merchant Banking III, L.P., as Associate General Partner of DLJ Offshore Partners III-2, C.V.
	

 	
 	

By:	

/s/  ROBERT CABES, JR.      
	 	 	 	

	 	 	Name:	Robert Cabes
	 	 	 	

	 	 	Title:	Attorney in fact
	 	 	 	

	

 	
 	

DLJMB Partners III GmbH & Co. KG
	

 	
 	

By:	

/s/  ROBERT CABES, JR.      
	 	 	 	

	 	 	Name:	Robert Cabes
	 	 	 	

	 	 	Title:	Attorney in fact
	 	 	 	

	

 	
 	

Millenium Partners II, L.P.
	

 	
 	

By:	

/s/  ROBERT CABES, JR.      
	 	 	 	

	 	 	Name:	Robert Cabes
	 	 	 	

	 	 	Title:	Attorney in fact
	 	 	 	

	

 	
 	

MBP III Plan Investors, L.P.
	

 	
 	

By:	

/s/  ROBERT CABES, JR.      
	 	 	 	

	 	 	Name:	Robert Cabes
	 	 	 	

	 	 	Title:	Attorney in fact
	 	 	 	

	

 	
 	
AFFILIATE STOCKHOLDERS:
	

 	
 	

DLJMB Funding III, Inc.
	

 	
 	

By:	

/s/  ROBERT CABES, JR.      
	 	 	 	

	 	 	Name:	Robert Cabes
	 	 	 	

	 	 	Title:	Attorney in fact
	 	 	 	

8

 

	

 	
 	

DLJ ESC II, L.P.
	

 	
 	

By:	

/s/  ROBERT CABES, JR.      
	 	 	 	

	 	 	Name:	Robert Cabes
	 	 	 	

	 	 	Title:	Attorney in fact
	 	 	 	

	

 	
 	

DLJ Offshore Partners III, C.V.
	

 	
 	

By:	

/s/  ROBERT CABES, JR.      
	 	 	 	

	 	 	Name:	Robert Cabes
	 	 	 	

	 	 	Title:	Attorney in fact
	 	 	 	

	

 	
 	

DLJ Offshore Partners III-1, C.V.
	

 	
 	

By:	

/s/  ROBERT CABES, JR.      
	 	 	 	

	 	 	Name:	Robert Cabes
	 	 	 	

	 	 	Title:	Attorney in fact
	 	 	 	

	

 	
 	

DLJ Offshore Partners III-2, C.V.
	

 	
 	

By:	

/s/  ROBERT CABES, JR.      
	 	 	 	

	 	 	Name:	Robert Cabes
	 	 	 	

	 	 	Title:	Attorney in fact
	 	 	 	

9

 
 

ANNEX A    
    

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BES HOLDING CO. SHARE EXCHANGE AGREEMENT

ARTICLE I REPRESENTATIONS AND WARRANTIES

ARTICLE II SHARE EXCHANGE

ARTICLE III CLOSING

ARTICLE IV SECURITIES LAW COMPLIANCE

ARTICLE V GENERAL PROVISIONS

ANNEX A

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