Document:

Purchase Agreement dated as of December 18, 2012

 Exhibit 10.1 
 $400,000,000 
 Oil States International, Inc. 

5 1/8% Senior Notes due 2023 

PURCHASE AGREEMENT 
 December 18, 2012 
 RBC Capital Markets, LLC 

Three World Financial Center 
 200 Vesey Street

 New York, New York 10281 
 Ladies
and Gentlemen: 
 1. Introductory. Oil States International, Inc., a Delaware corporation (the
“Company”), agrees with RBC Capital Markets, LLC (the “Initial Purchaser”) subject to the terms and conditions stated herein, to issue and sell to the Initial Purchaser $400,000,000 principal amount of its 5 1/8% Senior Notes due 2023 (the “Offered Securities”) to be issued under an indenture, to be dated as of December 21, 2012 (the “Indenture”), among the Company, the
Guarantors (as defined below) and Wells Fargo Bank, N.A., as Trustee (the “Trustee”). The Offered Securities will be unconditionally guaranteed as to the payment of principal and interest by each of the subsidiaries (as defined
below) listed on Schedule A hereto (collectively, the “Guarantors” and such guarantees, the “Guarantees”). 
 The holders of the Offered Securities will be entitled to the benefits of a Registration Rights Agreement to be dated as of the Closing Date (as defined below) among the Company, the Guarantors and the
Initial Purchaser (the “Registration Rights Agreement”), pursuant to which the Company and each Guarantor shall agree to file a registration statement with the Commission registering (a) the exchange of the Offered Securities
for debt securities with identical terms as the Offered Securities (the “Exchange Notes”) and the exchange of the Guarantees for guarantees with identical terms as the Guarantees (the “Exchange Guarantees” and
together with the Exchange Notes, the “Exchange Securities”) that will be registered under the Securities Act (the “Exchange Offer”) and (b) under certain circumstances, the resale of the Offered Securities and
the related Guarantees under the Securities Act. 
 Each of the Company and each Guarantor hereby agrees with the Initial
Purchaser as follows: 
 2. Representations and Warranties of the Company and each Guarantor. Each of the Company and
each Guarantor jointly and severally represents and warrants to, and agrees with, the Initial Purchaser that: 

(a) Offering Memoranda; Certain Defined Terms. The Company has prepared or will prepare a Preliminary Offering
Memorandum and a Final Offering Memorandum. 

 For purposes of this Agreement: 

“Applicable Time” means 3:20 p.m. (New York City time) on the date of this Agreement. 

“Closing Date” has the meaning set forth in Section 3 hereof. 

“Commission” means the Securities and Exchange Commission. 

“Exchange Act” means the United States Securities Exchange Act of 1934, as amended. 

“Final Offering Memorandum” means the final Offering Memorandum relating to the Offered Securities to be offered by the
Initial Purchaser that discloses the offering price and other final terms of the Offered Securities and is dated as of the date of this Agreement, including the documents incorporated by reference therein. 

“Free Writing Communication” means a written communication (as such term is defined in Rule 405) that constitutes an
offer to sell or a solicitation of an offer to buy the Offered Securities and is made by means other than the Preliminary Offering Memorandum or the Final Offering Memorandum. 
 “General Disclosure Package” means the Preliminary Offering Memorandum together with any Issuer Free Writing Communication existing at the Applicable Time and specified on Schedule
C hereto and the information which is intended for general distribution to prospective investors, as evidenced by its being specified in Schedule C hereto. 
 “Issuer Free Writing Communication” means a Free Writing Communication prepared by or on behalf of the Company, used or referred to by the Company or containing a description of the final
terms of the Offered Securities or of their offering, in the form retained in the Company’s records. 

“Preliminary Offering Memorandum” means the preliminary Offering Memorandum, dated December 18, 2012, relating to
the Offered Securities to be offered by the Initial Purchaser, including the documents incorporated by reference therein. 

“Rules and Regulations” means the rules and regulations of the Commission. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Securities Laws” means, collectively, the Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley”), the
Securities Act, the Exchange Act, the Rules and Regulations, the auditing principles, rules, standards and practices applicable to auditors of “issuers” (as defined in Sarbanes-Oxley) promulgated or approved by the Public Company
Accounting Oversight Board and, as applicable, the rules of the New York Stock Exchange (“Exchange Rules”). 

“subsidiary” means any entity in which the Company has a direct or indirect majority equity or voting interest.

  
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 “Supplemental Marketing Material” means any Issuer Free Writing
Communication other than any Issuer Free Writing Communication specified in Schedule C hereto. Supplemental Marketing Materials include, but are not limited to, the electronic roadshow slides and the accompanying audio recording.

 Unless otherwise specified, a reference to a “Rule” or a “Regulation” is to the indicated rule or
regulation under the Securities Act. 
 (b) Disclosure. As of the date of this Agreement, the Final
Offering Memorandum does not, and as of the Closing Date, the Final Offering Memorandum will not, include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading. As of the Applicable Time, and as of the Closing Date, neither (i) the General Disclosure Package, nor (ii) any individual Supplemental Marketing Material, when considered
together with the General Disclosure Package, included, or will include, any untrue statement of a material fact or omitted, or will omit, to state any material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading. The preceding two sentences do not apply to statements in or omissions from the Preliminary Offering Memorandum or Final Offering Memorandum, the General Disclosure Package or any
Supplemental Marketing Material based upon written information furnished to the Company by the Initial Purchaser specifically for use therein, it being understood and agreed that the only such information is that described as such in
Section 8(b) hereof. 
 (c) Good Standing of the Company and its Subsidiaries. Each of the Company
and each of its subsidiaries has been duly organized, is validly existing and in good standing as a corporation or other business entity under the laws of its jurisdiction of incorporation, organization or formation, as the case may be, with full
power and authority (corporate and other) necessary to own or lease its properties and conduct its business, in each case as described in the General Disclosure Package and the Final Offering Memorandum; and the Company and each of its subsidiaries
is duly registered or qualified to do business as a foreign corporation or other business entity, as the case may be, in good standing under the laws of each jurisdiction in which its ownership or lease of property or the conduct of its business
requires such qualification except where the failure to be so qualified would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the condition (financial or otherwise), results of operations,
stockholders’ equity, business, properties or prospects of the Company and its subsidiaries taken as a whole (a “Material Adverse Effect”). The Company does not have a direct or indirect majority equity or voting interest in
any corporation, association or other entity other than the entities listed on Schedule B to this Agreement. 
 (d) Power and Authority. Each of the Company and each Guarantor has all requisite corporate, limited liability company, or limited partnership power and authority to execute, deliver and perform
its obligations under this Agreement, the Indenture, the Offered Securities and the Exchange Securities to which it is a party and to consummate the transactions contemplated hereby and thereby. 

  
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 (e) Capitalization. The Company has an authorized capitalization as
set forth in the General Disclosure Package and the Final Offering Memorandum, and all of the issued shares of capital stock of the Company have been duly authorized and validly issued, are fully paid and non-assessable, and were issued in
compliance with federal and state securities laws and not in violation of any preemptive right, resale right, right of first refusal or similar right. Except as disclosed in the General Disclosure Package and the Final Offering Memorandum, no
options, warrants or other rights to purchase or exchange any securities for shares of the Company’s capital stock are outstanding. All of the issued and outstanding shares of capital stock or other equity interests of each subsidiary of the
Company have been duly authorized and validly issued, are fully paid and non-assessable and are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities or claims, except for such liens, encumbrances, equities
or claims arising under the Amended and Restated Credit Agreement, dated as of December 10, 2010 (the “Credit Agreement”), among the Company, PTI Group Inc., PTI Premium Camp Services Ltd., as borrowers, the guarantors and
lenders named therein and Wells Fargo Bank, N.A., as administrative agent, as amended, and the Syndicated Facility Agreement, dated as of September 18, 2012 (the “Australian Credit Agreement”), among The MAC Services Group Pty
Limited, as borrower, the lenders party thereto, and J.P. Morgan Australia Limited, as Australian agent and security trustee, and JPMorgan Chase Bank, N.A., as U.S. agent, as amended, or as would not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. 
 (f) Indenture. The Indenture has been duly and validly
authorized by the Company and each of the Guarantors and, when duly executed and delivered by each of the Company and the Guarantors (assuming the due authorization, execution and delivery thereof by the Trustee), will constitute the valid and
legally binding agreement of each of the Company and the Guarantors, enforceable against them in accordance with its terms, except that the enforcement thereof may be subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium
and similar laws of general applicability relating to or affecting creditors’ rights and to general equity principles (collectively, the “Enforceability Exceptions”). 

(g) Offered Securities. The Offered Securities have been duly and validly authorized by the Company and, when the
Offered Securities are duly executed, issued and delivered by the Company and paid for by the Initial Purchaser pursuant to this Agreement on the Closing Date (assuming the due authorization, execution and delivery of the Indenture by the Trustee
and due authentication and delivery of the Offered Securities by the Trustee in accordance with the Indenture), such Offered Securities will conform to the information in the General Disclosure Package and the Final Offering Memorandum and will
conform to the description of such Offered Securities contained in the Final Offering Memorandum and the Indenture, and the Offered Securities will constitute the valid and legally binding obligations of the Company, entitled to the benefits of the
Indenture, and enforceable against the Company in accordance with their terms, subject to the Enforceability Exceptions. 

  
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 (h) Trust Indenture Act. On the Closing Date, the Indenture will
conform in all material respects to the requirements of the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”), and the Rules and Regulations applicable to an indenture which is qualified thereunder. 

(i) No Finder’s Fee. Except as disclosed in the General Disclosure Package and the Final Offering Memorandum,
there are no contracts, agreements or understandings between the Company and any person that would give rise to a valid claim against the Company or the Initial Purchaser for a brokerage commission, finder’s fee or other like payment.

 (j) Registration Rights Agreement. The Registration Rights Agreement has been duly authorized by the
Company and the Guarantors and, when the Offered Securities are delivered and paid for pursuant to this Agreement on the Closing Date, the Registration Rights Agreement will have been duly executed and delivered and will constitute the valid and
legally binding obligations of the Company and the Guarantors, enforceable in accordance with their terms, subject to (i) the Enforceability Exceptions and (ii) any rights to indemnity or contribution thereunder may be limited by federal
and state securities laws and public policy considerations. 
 (k) Exchange Securities. The Exchange
Securities have been duly and validly authorized by the Company and each Guarantor, as applicable, and, when the Exchange Securities are duly issued, executed, authenticated and delivered in accordance with the terms of the Exchange Offer and the
Indenture (assuming the due authorization, execution and delivery of the Indenture by the Trustee and due authentication and delivery of the Exchange Securities by the Trustee in accordance with the Indenture), the Exchange Securities will be
validly issued and will constitute the valid and legally binding obligations of the Company and the Guarantors, as applicable, entitled to the benefits of the Indenture, and enforceable against the Company and the Guarantors in accordance with their
terms, subject to the Enforceability Exceptions. 
 (l) Guarantee. The Guarantee of each Guarantor has
been duly authorized by such Guarantor and, when the Offered Securities are delivered and paid for pursuant to this Agreement on the Closing Date and issued, executed and authenticated in accordance with the terms of the Indenture, the Guarantee of
each Guarantor endorsed thereon will have been duly executed and delivered by such Guarantor, will conform to the description thereof contained in the Final Offering Memorandum and will constitute valid and legally binding obligations of such
Guarantor, enforceable in accordance with its terms, subject to the Enforceability Exceptions. 
 (m) No
Registration Rights. There are no contracts, agreements or understandings between the Company or any Guarantor and any person granting such person the right to require the Company or such Guarantor to file a registration statement under the
Securities Act with respect to any securities of the Company or such Guarantor or to require the Company or such Guarantor to include such securities with the Offered Securities and Guarantees registered pursuant to any Registration Statement.

  
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 (n) Absence of Further Requirements. No consent, approval,
authorization, or order of, or filing or registration with, any person (including any governmental agency or body or any court) is required for the execution, delivery and performance of this Agreement by the Company and the Guarantors, the
consummation of the transactions contemplated by this Agreement, the Indenture and the Registration Rights Agreement in connection with the offering, issuance and sale of the Offered Securities and the Guarantees by the Company and the Guarantors,
and the application of the proceeds from the sale of the Offered Securities by the Company as described under “Use of Proceeds” in the General Disclosure Package and the Final Offering Memorandum, except for, (i) if required, the
order of the Commission declaring effective the Exchange Offer Registration Statement or, if required, the Shelf Registration Statement (each as defined in the Registration Rights Agreement), (ii) if required, the qualification of the Indenture
under the Trust Indenture Act in connection with the issuance of the Exchange Notes, (iii) such as have previously been obtained and (iv) applicable federal, state or foreign securities laws in connection with the purchase and sale of the
Offered Securities by the Initial Purchaser. 
 (o) Title to Property. Except as disclosed in the General
Disclosure Package and the Final Offering Memorandum, the Company and each of its subsidiaries have good and indefeasible title to all real property and valid title to all other property and assets owned by them, in each case free and clear of all
liens, charges, encumbrances and defects, except such as arise under the Credit Agreement and the Australian Credit Agreement or as would not materially affect the value thereof or materially interfere with the use made or to be made thereof by
them; and except as disclosed in the General Disclosure Package and the Final Offering Memorandum, the Company and each of its subsidiaries hold any leased real or personal property under valid and enforceable leases with no terms or provisions that
would materially interfere with the use made or to be made thereof by them. 
 (p) Absence of Defaults and
Conflicts Resulting from Transaction. The execution, delivery and performance of the Indenture, the Offered Securities, the Registration Rights Agreement and this Agreement by the Company and the Guarantors, the issuance and sale of the Offered
Securities and the Guarantees by the Company and the Guarantors and compliance with the terms and provisions hereof and thereof, and the application of the proceeds from the sale of the Offered Securities by the Company as described under “Use
of Proceeds” in the General Disclosure Package and the Final Offering Memorandum will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default or a Debt Repayment Triggering
Event (as defined below) under, or result in the imposition of any lien, charge or encumbrance upon any property or assets of the Company or its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement, license or other
agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties or assets of the Company or any of its subsidiaries is subject;
(ii) result in any violation of the provisions of the charter or by-laws (or similar organizational documents) of the Company or any of its subsidiaries; or (iii) result in any violation of any statute or any judgment, order, rule or
regulation of any court or governmental agency or body having 

  
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jurisdiction over the Company or any of its subsidiaries or any of their properties or assets, except in the case of clauses (i) and (iii) above for such conflicts, breaches, defaults,
violations or liens that would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 (q) Absence of Existing Defaults and Conflicts. Neither the Company nor any of its subsidiaries (i) is in violation of its respective charter or by-laws (or similar organizational documents),
(ii) is in default, and no event has occurred that, with the giving of notice or lapse of time or both, would constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture, deed of
trust, loan agreement, mortgage, lease, license or other agreement or instrument to which it is a party or by which it is bound or to which any of its properties or assets is subject or (iii) is in violation of any statute or any order, rule or
regulation of any court or governmental agency or body having jurisdiction over it or its property or assets or has failed to obtain any license, permit, certificate, franchise or other governmental authorization or permit necessary to the ownership
of its property or to the conduct of its business, except in the case of clauses (ii) and (iii), to the extent any such conflict, breach, violation or default would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. 
 (r) Authorization of Agreement. The Company and each of the Guarantors has all
requisite corporate power and authority to execute, deliver and perform its obligations under this Agreement. This Agreement has been duly and validly authorized, executed and delivered by the Company and the Guarantors. 

(s) Possession of Licenses and Permits. The Company and each of its subsidiaries possess all adequate certificates,
authorizations, franchises, licenses and permits (“Licenses”) necessary or material to the conduct of the business now conducted or proposed in the General Disclosure Package and the Final Offering Memorandum to be conducted by them
and have not received any notice of proceedings relating to the revocation or modification of any Licenses that, if determined adversely to the Company or any of its subsidiaries, would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect; the Company and each of its subsidiaries have fulfilled and performed all of its obligations with respect to the Licenses, and no event has occurred that allows, or after notice or lapse of time would allow,
revocation or termination thereof or results in any other impairment of the rights of the holder of any such Licenses, except for any of the foregoing that would not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect. 
 (t) Absence of Labor Dispute. No labor dispute or disturbance by the employees of the
Company or its subsidiaries exists or, to the knowledge of the Company or the Guarantors, is imminent that could reasonably be expected to have a Material Adverse Effect. 

(u) Possession of Intellectual Property. The Company and each of its subsidiaries own or possess or can acquire on
reasonable terms, adequate rights to use all material patents, patent applications, trademarks, service marks, trade names, trademark 

  
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registrations, service mark registrations, copyrights, licenses, know-how, software, systems and technology (including trade secrets and other unpatented and/or unpatentable proprietary or
confidential information, systems or procedures) (collectively, “intellectual property rights”) necessary to conduct the business now operated by them, or presently employed by them, and have not received any notice of any claim of
infringement of or conflict with asserted rights of others with respect to any intellectual property rights that, if determined adversely to the Company or any of its subsidiaries, could, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect. 
 (v) Environmental Laws. Except as disclosed in the General Disclosure
Package and the Final Offering Memorandum, (a)(i) neither the Company nor any of its subsidiaries is in violation of, or has any liability under, any applicable federal or national, state or provincial, regional or local law, directive, rule,
regulation, ordinance, code, other requirement or rule of law (including common law), or decision or order of any domestic, foreign or international governmental agency, governmental body, court or tribunal, relating to pollution, to the use,
handling, transportation, treatment, storage, discharge, disposal or release of Hazardous Substances, to the protection or restoration of the environment, threatened or endangered species or natural resources (including biota), to climate change, to
health and safety including as such relates to exposure to Hazardous Substances, and to natural resource damages (collectively, “Environmental Laws”), (ii) neither the Company nor any of its subsidiaries owns, occupies,
operates or uses any real property contaminated with Hazardous Substances, (iii) neither the Company nor any of its subsidiaries is conducting or funding any investigation, remediation, remedial action or monitoring of actual or suspected
Hazardous Substances released or threatened to be released into the environment, (iv) neither the Company nor any of its subsidiaries is liable or allegedly liable for any release or threatened release of Hazardous Substances, including at any
off-site treatment, storage or disposal site, (v) neither the Company nor any of its subsidiaries is subject to any claim by any governmental agency or governmental body or person relating to Environmental Laws or Hazardous Substances released
or threatened to be released into the environment, and (vi) the Company and its subsidiaries have received and are in compliance with all, and have no liability under any, permits, licenses, authorizations, registrations, identification numbers
or other approvals required under applicable Environmental Laws to conduct their respective businesses except, as to each matter covered by clauses (i) – (vi), those that could not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect; (b) to the knowledge of the Company or the Guarantors there are no facts or circumstances that would reasonably be expected to result in a violation of, liability under, or claim pursuant to any Environmental
Law that could reasonably be expected to have a Material Adverse Effect; (c) to the knowledge of the Company or the Guarantors there are no requirements proposed for adoption or implementation under any Environmental Law that could reasonably
be expected to have a Material Adverse Effect; and (d) in the ordinary course of its business, the Company and each of its subsidiaries periodically evaluate the effect, including associated costs and liabilities, of Environmental Laws on the
business, properties, results of operations and financial condition of it, and, on the basis of such evaluation, the Company and each of its subsidiaries reasonably concluded that such Environmental Laws will not, individually or in the aggregate,
have a Material Adverse 

  
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Effect. For purposes of this subsection “Hazardous Substances” means (A) petroleum and petroleum products, by-products or breakdown products, radioactive materials
(including naturally occurring radioactive materials), asbestos-containing materials and polychlorinated biphenyls, and (B) any other chemical, material or substance defined or regulated as toxic or hazardous or as a pollutant, contaminant or
waste under Environmental Laws. 
 (w) Absence of Manipulation. None of the Company, the Guarantors or any
of their respective affiliates has, either alone or with one or more other persons, taken and will not take, directly or indirectly, any action designed to or that has constituted or that could reasonably be expected to cause or result in the
stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Offered Securities. 
 (x) Statistical and Market-Related Data. The statistical and market-related data included in the Preliminary Offering Memorandum, the Final Offering Memorandum, and any Issuer Free Writing
Communication, are based on or derived from sources that the Company and the Guarantors believe to be reliable and accurate. 
 (y) Internal Controls and Compliance with the Sarbanes-Oxley Act. Except as set forth in the General Disclosure Package and the Final Offering Memorandum, the Company and its Board of Directors
(the “Board”) are in compliance with Sarbanes-Oxley and all applicable Exchange Rules. The Company maintains a system of “internal control over financial reporting” (as defined in Rule 13a-15(f) of the Exchange Act)
(“Internal Controls”) that complies with the Securities Laws and is sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management’s general or specific authorizations,
(ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with U.S. generally accepted accounting principles and to maintain accountability for assets, (iii) access to assets is permitted only
in accordance with management’s general or specific authorization and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.
The Internal Controls are overseen by the Audit Committee (the “Audit Committee”) of the Board in accordance with the Exchange Rules. Since September 30, 2012, the Company has not publicly disclosed or reported to the Audit
Committee or the Board a significant deficiency, material weakness, change in Internal Controls or fraud involving management or other employees who have a significant role in Internal Controls (each, an “Internal Control Event”),
any violation of, or failure to comply with, the Securities Laws, or any matter which, if determined adversely, would have a Material Adverse Effect. 
 (z) Litigation. Except as disclosed in the General Disclosure Package and the Final Offering Memorandum, there are no pending actions, suits or proceedings (including any inquiries or
investigations by any court or governmental agency or body, domestic or foreign) against or affecting the Company or any of its subsidiaries or any of their respective properties that, if determined adversely to the Company or any of its
subsidiaries, would individually or in the aggregate have a Material Adverse Effect, or would materially and adversely affect the ability of the Company or any Guarantor to 

  
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perform its obligations under the Indenture, this Agreement, or the Registration Rights Agreement, or which are otherwise material in the context of the sale of the Offered Securities and the
Guarantees; and, to the knowledge of the Company or the Guarantors, no such actions, suits or proceedings (including any inquiries or investigations by any court or governmental agency or body, domestic or foreign) are threatened or contemplated.

 (aa) Financial Statements. The historical financial statements (including the related notes and
supporting schedules) included in the General Disclosure Package and the Final Offering Memorandum comply as to form in all material respects with the requirements of Regulation S-X under the Securities Act (other than the requirements of
Item 3-10(a) of Regulation S-X, as it applies to the Guarantees) and present fairly the financial condition, results of operations and cash flows for the periods shown, and such financial statements have been prepared in conformity with the
generally accepted accounting principles in the United States applied on a consistent basis throughout the periods involved. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the General
Disclosure Package and the Final Offering Memorandum fairly presents the information called for in all material respects and has been prepared in accordance with the Commission’s rules and guidelines applicable thereto. 

(bb) Independent Auditor. Ernst & Young LLP, who have audited the consolidated financial statements of the
Company and subsidiaries as of and for the year ended December 31, 2011, whose report appears in the General Disclosure Package and is incorporated by reference in the Final Offering Memorandum and who have delivered the letter referred to in
Section 7(a) hereof, are an independent registered public accounting firm, as required by the Securities Act and the Rules and Regulations. 
 (cc) No Material Adverse Change in Business. Except as disclosed in the General Disclosure Package and the Final Offering Memorandum, since the end of the period covered by the latest audited
financial statements included in the General Disclosure Package (i) there has been no change, nor any development or event involving a prospective change, that has had or would be reasonably expected to have a Material Adverse Effect; and
(ii) except as disclosed in or contemplated by the General Disclosure Package and the Final Offering Memorandum, there has been no dividend or distribution of any kind declared, paid or made by the Company on any class of its capital stock.

 (dd) Investment Company Act. Neither the Company nor any Guarantor is, and after giving effect to the
offering and sale of the Offered Securities and the application of the proceeds thereof as described in the General Disclosure Package and the Final Offering Memorandum, will not be, an “investment company” within the meaning of such term
under the Investment Company Act of 1940, as amended (the “Investment Company Act”), and the rules and regulations of the Commission thereunder. 

(ee) Regulations T, U, X. Neither the Company nor any of its subsidiaries nor any agent thereof acting on their
behalf has taken, and none of them will take, any action that might cause this Agreement or the issuance or sale of the Offered Securities to violate Regulation T, Regulation U or Regulation X of the Board of Governors of the Federal Reserve System.

  
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 (ff) Ratings. No “nationally recognized statistical rating
organization” as such term is defined for purposes of Rule 436(g)(2) (i) has imposed (or has informed the Company or any Guarantor that it is considering imposing) any condition (financial or otherwise) on the Company’s or any
Guarantor’s retaining any rating assigned to the Company or any Guarantor or any securities of the Company or any Guarantor or (ii) has indicated to the Company or any Guarantor that it is considering any of the actions described in
Section 7(b)(ii) hereof. 
 (gg) Class of Securities Not Listed. No securities of the same class
(within the meaning of Rule 144A(d)(3)) as the Offered Securities are listed on any national securities exchange registered under Section 6 of the Exchange Act or quoted in a U.S. automated inter-dealer quotation system. 

(hh) No Registration. The offer and sale of the Offered Securities in the manner contemplated by this Agreement
will be exempt from the registration requirements of the Securities Act by reason of Section 4(2) thereof and Rule 144A and Regulation S thereunder; and it is not necessary to qualify an indenture in respect of the Offered Securities under the
Trust Indenture Act. 
 (ii) No General Solicitation; No Directed Selling Efforts. Neither the Company,
nor any Guarantor, nor any of their respective affiliates, nor any person acting on its or their behalf (other than, in any case, the Initial Purchaser and any of its affiliates, as to whom the Company and the Guarantors make no representation or
warranty) (i) has, within the six-month period prior to the date hereof, offered or sold in the United States or to any U.S. person (as such terms are defined in Regulation S under the Securities Act) the Offered Securities or any security of
the same class or series as the Offered Securities or (ii) has offered or will offer or sell the Offered Securities (A) in the United States by means of any form of general solicitation or general advertising within the meaning of Rule
502(c) or (B) with respect to any such securities sold in reliance on Rule 903 of Regulation S under the Securities Act, by means of any directed selling efforts within the meaning of Rule 902(c) of Regulation S. The Company, the Guarantors,
their respective affiliates and any person acting on its or their behalf have complied and will comply with the offering restrictions requirement of Regulation S. Neither the Company nor any Guarantor has entered and neither the Company nor any
Guarantor will enter into any contractual arrangement with respect to the distribution of the Offered Securities except for this Agreement. 
 (jj) ERISA Compliance. Except as otherwise disclosed in the General Disclosure Package and the Final Offering Memorandum, the Company and its subsidiaries and any “employee benefit plan”
(as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974 (as amended, “ERISA,” which term, as used herein, includes the regulations and published interpretations thereunder) established or maintained
by the Company, its subsidiaries or their ERISA Affiliates (as defined below) are in compliance in all material respects with ERISA and, to the knowledge of the 

  
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Company or the Guarantors, each “multiemployer plan” (as defined in Section 4001 of ERISA) to which the Company, its subsidiaries or an ERISA Affiliate contributes (a
“Multiemployer Plan”) is in compliance in all material respects with ERISA. “ERISA Affiliate” means, with respect to the Company or a subsidiary, any member of any group of organizations described in
Section 414(b), (c), (m) or (o) of the Internal Revenue Code of 1986 (as amended, the “Code,” which term, as used herein, includes the regulations and published interpretations thereunder) of which the Company or such
subsidiary is or, within the last six years, has been a member. No “reportable event” (as defined in Section 4043 of ERISA) has occurred or is reasonably expected to occur with respect to any “employee benefit plan”
established or maintained by the Company, its subsidiaries or any of their ERISA Affiliates. No “single employer plan” (as defined in Section 4001 of ERISA) established or maintained by the Company, its subsidiaries or any of their
ERISA Affiliates, if such “employee benefit plan” were terminated, would have any “amount of unfunded benefit liabilities” (as defined in Section 4001 of ERISA) that could, individually or in the aggregate (with any other
such “single employer plan”), reasonably be expected to result in a Material Adverse Effect. Neither the Company, its subsidiaries nor any of their ERISA Affiliates has incurred or reasonably expects to incur any liability (i) under
Title IV of ERISA with respect to termination of, or withdrawal from, any “employee benefit plan” or (ii) that could, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change under Sections 430,
4971, 4975 or 4980B of the Code. To the knowledge of the Company or the Guarantors, each “employee benefit plan” established or maintained by the Company, its subsidiaries or any of their ERISA Affiliates that is intended to be qualified
under Section 401 of the Code is so qualified and nothing has occurred, whether by action or failure to act, which would cause the loss of such qualification. 

(kk) Foreign Corrupt Practices Act. Except as is disclosed in the Company’s Current Report on Form 8-K dated
February 18, 2005, none of the Company, any of its subsidiaries or any of their respective directors or officers, or, to the Company’s knowledge, any other person associated with or acting on behalf of the Company or any of its
subsidiaries including, without limitation, any agent or employee of the Company or any of its subsidiaries, has, directly or indirectly, while acting on behalf of the Company or any of its subsidiaries (i) used any corporate funds for unlawful
contributions, gifts, entertainment or other unlawful expenses relating to political activity; (ii) made any unlawful payment to foreign or domestic government officials or employees or to foreign or domestic political parties or campaigns from
corporate funds; (iii) violated any provision of the Foreign Corrupt Practices Act of 1977, as amended; or (iv) made any other unlawful payment. 
 (ll) Compliance with Money Laundering Laws. The operations of the Company and its subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and
reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines,
issued, administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving
the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the best knowledge of the Company or the Guarantors, threatened. 

  
 12 

 (mm) Compliance with OFAC. Neither the Company nor any of its
subsidiaries or, to the knowledge of the Company or the Guarantors, any director, officer, agent, employee or affiliate of the Company or its subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets
Control of the U.S. Department of the Treasury (“OFAC”); and neither the Company nor any Guarantor will directly or indirectly use the proceeds of the offering of the Offered Securities hereunder, or lend, contribute or otherwise
make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. 

(nn) Tax Returns. The Company and its subsidiaries have filed all federal, state, local and foreign tax returns
which are required to be filed through the date hereof, except where the failure to so file would not have a Material Adverse Effect, which returns are true and correct in all material respects or have received timely extensions thereof, and have
paid all taxes shown on such returns and all assessments received by them to the extent that the same are material and have become due, except for such taxes as are being contested in good faith and except as would not result in a Material Adverse
Effect. There are no tax audits or investigations pending, which if adversely determined would have a Material Adverse Effect; nor are there any material proposed additional tax assessments against the Company or any of its subsidiaries. 

(oo) Insurance. The Company and its subsidiaries are insured by insurers of recognized financial responsibility
against such losses and risks and in such amounts as are customary in the businesses in which they are engaged or propose to engage after giving effect to the transactions described in the General Disclosure Package and the Final Offering
Memorandum; all policies of insurance and fidelity or surety bonds insuring the Company or any of its subsidiaries or the Company’s or its subsidiaries’ businesses, assets, employees, officers and directors are in full force and effect;
the Company and its subsidiaries are in compliance with the terms of such policies and instruments in all material respects; and none of the Company or any of the Guarantors has any reason to believe that the Company or its subsidiaries 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 at a cost that is not materially greater than the current cost, except
as would not, individually or in the aggregate, have a Material Adverse Effect. 
 (pp) No Other
Materials. The Company has not distributed and, prior to the Closing Date, will not distribute, any offering material in connection with the offering and sale of the Offered Securities other than the Preliminary Offering Memorandum, the Final
Offering Memorandum and any Issuer Free Writing Communication to which the Initial Purchaser has consented. 
 3. Purchase,
Sale and Delivery of Offered Securities. On the basis of the representations, warranties and agreements and subject to the terms and conditions set forth 

  
 13 

 
herein, the Company agrees to sell to the Initial Purchaser, and the Initial Purchaser agrees to purchase from the Company, at a purchase price of 99.0% of the principal amount thereof plus
accrued interest from December 21, 2012 to the Closing Date (as hereinafter defined), the Offered Securities. 
 The
Company will deliver against payment of the purchase price the Offered Securities to be offered and sold by the Initial Purchaser in reliance on Regulation S (the “Regulation S Securities”) in the form of one or more permanent
global Securities in registered form without interest coupons (the “Offered Regulation S Global Securities”) which will be deposited with the Trustee as custodian for The Depository Trust Company (“DTC”) for the
respective accounts of the DTC participants for Morgan Guaranty Trust Company of New York, Brussels office, as operator of the Euroclear System (“Euroclear”), and Clearstream Banking, société anonyme
(“Clearstream, Luxembourg”) and registered in the name of Cede & Co., as nominee for DTC. The Company will deliver against payment of the purchase price the Offered Securities to be purchased by the Initial Purchaser
hereunder and to be offered and sold by the Initial Purchaser in reliance on Rule 144A (the “144A Securities”) in the form of one permanent global security in definitive form without interest coupons (the “Restricted Global
Securities”) deposited with the Trustee as custodian for DTC and registered in the name of Cede & Co., as nominee for DTC. The Regulation S Global Securities and the Restricted Global Securities shall be assigned separate CUSIP
numbers. The Restricted Global Securities shall include the legend regarding restrictions on transfer set forth under “Transfer Restrictions” in the Final Offering Memorandum. Until the termination of the distribution compliance period (as
defined in Regulation S) with respect to the offering of the Offered Securities, interests in the Regulation S Global Securities may only be held by the DTC participants for Euroclear and Clearstream, Luxembourg. Interests in any permanent global
Securities will be held only in book-entry form through Euroclear, Clearstream, Luxembourg or DTC, as the case may be, except in the limited circumstances described in the Final Offering Memorandum. 

Payment for the Regulation S Securities and the 144A Securities shall be made by the Initial Purchaser in Federal (same day) funds by
wire transfer to an account at a bank designated by the Company pursuant to written instructions provided by the Company, against delivery to the Trustee as custodian for DTC of (i) the Regulation S Global Securities representing all of the
Regulation S Securities for the respective accounts of the DTC participants for Euroclear and Clearstream, Luxembourg and (ii) the Restricted Global Securities representing all of the 144A Securities, at the office of Vinson & Elkins
L.L.P., First City Tower, 1001 Fannin Street, Suite 2500, Houston, Texas 77002 at 10:00 a.m. (New York time), on December 21, 2012, or at such other time not later than seven full business days thereafter as the Initial Purchaser and the
Company determine, such time being herein referred to as the “Closing Date”. The Offered Regulation S Global Securities and the Restricted Global Securities will be made available for checking at the above office of
Vinson & Elkins L.L.P. at least 24 hours prior to the Closing Date. 
 4. Representations by Initial Purchaser;
Resale by Initial Purchaser. 
 (a) The Initial Purchaser represents and warrants to the Company and the
Guarantors that it is an “accredited investor” within the meaning of Regulation D under the Securities Act and is a qualified institutional buyer within the meaning of Rule 144A promulgated under the Securities Act. 

  
 14 

 (b) The Initial Purchaser acknowledges that the Offered Securities have not
been registered under the Securities Act and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in accordance with Regulation S or pursuant to an exemption from the registration
requirements of the Securities Act. The Initial Purchaser represents and agrees that it has offered and sold the Offered Securities, and will offer and sell the Offered Securities (i) as part of its distribution at any time and
(ii) otherwise until 40 days after the later of the commencement of the offering and the Closing Date, only in accordance with Rule 903 or Rule 144A. Accordingly, neither the Initial Purchaser nor its affiliates, nor any persons acting on its
or their behalf, have engaged or will engage in any directed selling efforts with respect to the Offered Securities, and the Initial Purchaser, its affiliates and all persons acting on its or their behalf have complied and will comply with the
offering restrictions requirement of Regulation S. The Initial Purchaser agrees that, at or prior to confirmation of sale of the Offered Securities, other than a sale pursuant to Rule 144A, the Initial Purchaser will have sent to each distributor,
dealer or person receiving a selling concession, fee or other remuneration that purchases the Offered Securities from it during the restricted period a confirmation or notice to substantially the following effect: 

“The Securities covered hereby have not been registered under the U.S. Securities Act of 1933 (the “Securities Act”) and
may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (i) as part of their distribution at any time or (ii) otherwise until 40 days after the later of the date of the commencement of the
offering and the closing date, except in either case in accordance with Regulation S (or Rule 144A if available) under the Securities Act. Terms used above have the meanings given to them by Regulation S.” 

Terms used in this subsection (b) have the meanings given to them by Regulation S. 

(c) The Initial Purchaser agrees that it and each of its affiliates has not entered and will not enter into any
contractual arrangement with respect to the distribution of the Offered Securities except for any such arrangements with the prior written consent of the Company and the Guarantors. 

(d) The Initial Purchaser agrees that it and each of its affiliates will not offer or sell the Offered Securities in the
United States by means of any form of general solicitation or general advertising within the meaning of Rule 502(c), including, but not limited to (i) any advertisement, article, notice or other communication published in any newspaper,
magazine or similar media or broadcast over television or radio, or (ii) any seminar or meeting whose attendees have been invited by any general solicitation or general advertising. The Initial Purchaser agrees, with respect to resales made in
reliance on Rule 144A of any of the Offered Securities, to deliver either with the confirmation of such resale or otherwise prior to settlement of such resale a notice to the effect that the resale of such Offered Securities has been made in
reliance upon the exemption from the registration requirements of the Securities Act provided by Rule 144A. 

  
 15 

 (e) The Initial Purchaser represents and warrants and agrees that:

 (i) In relation to each Member State of the European Economic Area which has implemented the Prospectus
Directive (as defined below) (each, a “Relevant Member State”), with effect from and including the date on which the Prospectus Directive is implemented in that Relevant Member State (the “Relevant Implementation
Date”), it has not made and will not make an offer of Offered Securities to the public in that Relevant Member State, except that it may, with effect from and including the Relevant Implementation Date, make an offer of Offered Securities
to the public in that Relevant Member State at any time: (A) to any legal entity which is a qualified investor as defined in the Prospectus Directive; (B) to fewer than 100 or, if the Relevant Member State has implemented the relevant
provision of the 2010 PD Amending Directive (as defined below), 150, natural or legal persons (other than qualified investors as defined in the Prospectus Directive), as permitted under the Prospectus Directive, subject to obtaining the prior
consent of the Initial Purchaser for any such offer; or (C) in any other circumstances falling within Article 3(2) of the Prospectus Directive; 
 For the purposes of this provision, the expression an “offer of Offered Securities to the public” in relation to any Offered Securities in any Relevant Member State means the
communication in any form and by any means of sufficient information on the terms of the offer and the Offered Securities to be offered so as to enable an investor to decide to purchase or subscribe for the Offered Securities, as the same may be
varied in that Member State by any measure implementing the Prospectus Directive in that Member State, the expression “Prospectus Directive” means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending
Directive, to the extent implemented in the Relevant Member State), and includes any relevant implementing measure in the Relevant Member State and the expression “2010 PD Amending Directive” means Directive 2010/73/EU. 

(ii) it has only communicated or caused to be communicated and will only communicate or cause to be communicated an
invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act of 2000 (the “FSMA”)) received by it in connection with the issue or sale of the Offered
Securities in circumstances in which Section 21(1) of the FSMA does not apply to the Company or the Guarantors; and 
 (iii) it has complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the Offered Securities in, from or otherwise involving the United
Kingdom. 

  
 16 

 (f) The Initial Purchaser acknowledges and agrees that the Company and the
Guarantors and, for purposes of the opinions to be delivered to the Initial Purchaser pursuant to Sections 7(c) and (d), counsel for the Company and the Guarantors and counsel for the Initial Purchaser, may rely upon the accuracy of the
representations and warranties of the Initial Purchaser, and compliance by the Initial Purchaser with its agreements, contained herein, and the Initial Purchaser hereby consents to such reliance. 

5. Certain Agreements of the Company and each Guarantor. The Company and each Guarantor agree with the Initial Purchaser that:

 (a) Amendments and Supplements to Offering Memoranda. The Company and the Guarantors will promptly
advise the Initial Purchaser of any proposal to amend or supplement the Preliminary Offering Memorandum or the Final Offering Memorandum and will not effect such amendment or supplementation without the Initial Purchaser’s consent. If, at any
time prior to the completion of the resale of the Offered Securities by the Initial Purchaser, there occurs an event or development as a result of which any document included in the Preliminary Offering Memorandum or the Final Offering Memorandum,
the General Disclosure Package or any Supplemental Marketing Material, if republished immediately following such event or development, included or would include an untrue statement of a material fact or omitted or would omit to state any material
fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, the Company and the Guarantors promptly will notify the Initial Purchaser of such event and promptly will prepare
and furnish, at their own expense, to the Initial Purchaser and the dealers and to any other dealers at the request of the Initial Purchaser, an amendment or supplement which will correct such statement or omission. Neither the Initial
Purchaser’s consent to, nor the Initial Purchaser’s delivery to offerees or investors of, any such amendment or supplement shall constitute a waiver of any of the conditions set forth in Section 7 hereof. 

(b) Furnishing of Offering Memoranda. The Company and the Guarantors will furnish to the Initial Purchaser copies
of the Preliminary Offering Memorandum, each other document comprising a part of the General Disclosure Package, the Final Offering Memorandum, all amendments and supplements to such documents and each item of Supplemental Marketing Material, in
each case as soon as available and in such quantities as the Initial Purchaser requests. 
 (c) Blue Sky
Qualifications. The Company and the Guarantors will arrange for the qualification or registration of the Offered Securities for sale and the determination of their eligibility for investment under the laws of such jurisdictions in the United
States and Canada as the Initial Purchaser designates and will continue such qualifications or registrations in effect so long as required for the resale of the Offered Securities by the Initial Purchaser, provided that the Company and the
Guarantors will not be required to qualify as a foreign corporation or other entity, to file a general consent to service of process in any such jurisdiction, or subject themselves to taxation in any such jurisdiction where they are not then so
subject. 

  
 17 

 (d) Reporting Requirements. For so long as the Offered Securities
remain outstanding, the Company and the Guarantors will furnish to the Initial Purchaser, as soon as practicable after the end of each fiscal year, a copy of the Company’s annual report to stockholders for such year; and the Company and the
Guarantors will furnish to the Initial Purchaser (i) as soon as available, a copy of each report and any definitive proxy statement of the Company filed with the Commission under the Exchange Act or mailed to stockholders, and (ii) from
time to time, such other information concerning the Company and the Guarantors as the Initial Purchaser may reasonably request. However, so long as the Company is subject to the reporting requirements of either Section 13 or Section 15(d)
of the Exchange Act and is timely filing reports with the Commission on its Electronic Data Gathering, Analysis and Retrieval system (“EDGAR”), it is not required to furnish such reports or statements to the Initial Purchaser. At
any time when the Company is not subject to Section 13 or 15(d) of the Exchange Act, the Company and the Guarantors will promptly furnish or cause to be furnished to the Initial Purchaser and, upon request of holders and prospective purchasers
of the Offered Securities, to such holders and purchasers, copies of the information required to be delivered to holders and prospective purchasers of the Offered Securities pursuant to Rule 144A(d)(4) (or any successor provision thereto) in order
to permit compliance with Rule 144A in connection with resales by such holders of the Offered Securities. The Company will pay the expenses of printing and distributing to the Initial Purchaser all such documents. 

(e) Transfer Restrictions. During the period of one year after the Closing Date, the Company will, upon request,
furnish to the Initial Purchaser and any holder of Offered Securities a copy of the restrictions on transfer applicable to the Offered Securities. 
 (f) No Resales by Affiliates. During the period of one year after the Closing Date, the Company will not, and will not permit any of its affiliates (as defined in Rule 144) to, resell any of the
Offered Securities that have been reacquired by any of them. 
 (g) Investment Company. During the period
of two years after the Closing Date or, if earlier, until such time as the Offered Securities are no longer “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, neither the Company nor any Guarantor will
be or become, an open-end investment company, unit investment trust or face-amount certificate company that is or is required to be registered under Section 8 of the Investment Company Act. 

(h) Payment of Expenses. The Company and the Guarantors will pay all expenses incidental to the performance of
their respective obligations under this Agreement, the Indenture and the Registration Rights Agreement, including but not limited to (i) the fees and expenses of the Trustee and its professional advisers; (ii) all expenses in connection
with the execution, issue, authentication, packaging and initial delivery of the Offered Securities and, as applicable, the Exchange Securities, the preparation and printing of this Agreement, the Registration Rights Agreement, the Offered
Securities, the Indenture, the Preliminary Offering Memorandum, any other documents comprising any part of the General Disclosure Package, the Final Offering Memorandum, all amendments and supplements thereto, each item of Supplemental

  
 18 

 
Marketing Material and any other document relating to the issuance, offer, sale and delivery of the Offered Securities and, as applicable, the Exchange Securities; (iii) the cost of any
advertising approved by the Company in connection with the issue of the Offered Securities; (iv) any expenses (including fees and disbursements of counsel to the Initial Purchaser) incurred in connection with qualification of the Offered
Securities or the Exchange Securities for sale under the laws of such jurisdictions in the United States and Canada as the Initial Purchaser designates and the preparation and printing of memoranda relating thereto; (v) any fees charged by
investment rating agencies for the rating of the Offered Securities or the Exchange Securities; and (vi) expenses incurred in distributing the Preliminary Offering Memorandum, any other documents comprising any part of the General Disclosure
Package, the Final Offering Memorandum (including any amendments and supplements thereto) and any Supplemental Marketing Material to the Initial Purchaser. The Company and the Guarantors will also pay or reimburse the Initial Purchaser (to the
extent incurred by the Initial Purchaser) for costs and expenses of the Initial Purchaser and the Company’s officers and employees and any other expenses of the Initial Purchaser and the Company and the Guarantors relating to investor
presentations on any “road show” in connection with the offering and sale of the Offered Securities including, without limitation, any travel expenses of the Company’s and the Guarantors’ officers and employees and any other
expenses of the Company and the Guarantors, provided, however, that the Initial Purchaser will pay fifty percent of the cost of any aircraft chartered in connection with the road show. For avoidance of doubt, except as provided in clause
(iv) above, the Initial Purchaser shall be responsible for its own counsel’s fees. 
 (i) Use of
Proceeds. The Company will use the net proceeds received in connection with this offering in the manner described in the “Use of Proceeds” section of the General Disclosure Package and the Final Offering Memorandum and, except as
disclosed in the General Disclosure Package and the Final Offering Memorandum, the Company does not intend to use any of the proceeds from the sale of the Offered Securities hereunder to repay any outstanding debt owed to any affiliate of the
Initial Purchaser. 
 (j) Absence of Manipulation. In connection with this offering, until the Initial
Purchaser shall have notified the Company of the completion of the resale of the Offered Securities, neither the Company, the Guarantors nor any of their affiliates will, either alone or with one or more other persons, bid for or purchase for any
account in which it or any of its affiliates has a beneficial interest any Offered Securities or attempt to induce any person to purchase any Offered Securities; and neither they nor any of their affiliates will make bids or purchases for the
purpose of creating actual, or apparent, active trading in, or of raising the price of, the Offered Securities. 

(k) Restriction on Sale of Securities. For a period of 60 days after the date hereof, neither the Company nor any
Guarantor will, directly or indirectly, offer, sell, issue, contract to sell, pledge or otherwise dispose of with respect to any United States dollar-denominated debt securities issued or guaranteed by the Company or such Guarantor and having a
maturity of more than one year from the date of issue, without the prior written consent of the Initial Purchaser. Neither the Company nor any 

  
 19 

 
Guarantor will at any time directly or indirectly, take any action referred to in the previous sentence with respect to any securities under circumstances where such offer, sale, pledge, contract
or disposition would cause the exemption afforded by Section 4(2) of the Securities Act or the safe harbor of Regulation S thereunder to cease to be applicable to the offer and sale of the Offered Securities. 

6. Free Writing Communications. 
 (a) Issuer Free Writing Communications. The Company and each Guarantor each represents and agrees that, unless it obtains the prior consent of the Initial Purchaser, and the Initial Purchaser
represents and agrees that, unless it obtains the prior consent of the Company, it has not made and will not make any offer relating to the Offered Securities that would constitute an Issuer Free Writing Communication. 

(b) Term Sheets. The Company consents to the use by the Initial Purchaser of a Free Writing Communication that
(i) contains only (A) information describing the preliminary terms of the Offered Securities or their offering or (B) information that describes the final terms of the Offered Securities or their offering and that is included in or is
subsequently included in the Final Offering Memorandum, including by means of a pricing term sheet in the form of Exhibit A hereto, or (ii) does not contain any material information about the Company or any Guarantor or their
securities that was provided by or on behalf of the Company or any Guarantor, it being understood and agreed that the Company and each Guarantor shall not be responsible to the Initial Purchaser for liability arising from any inaccuracy in such Free
Writing Communications referred to in clause (i) or (ii) as compared with the information in the Preliminary Offering Memorandum, the Final Offering Memorandum or the General Disclosure Package. 

7. Conditions of the Obligations of the Initial Purchaser. The obligations of the Initial Purchaser to purchase and pay for the
Offered Securities will be subject to the accuracy of the representations and warranties of the Company and the Guarantors herein (as though made on the Closing Date), to the accuracy of the statements of officers of the Company and the Guarantors
made pursuant to the provisions hereof, to the performance by the Company and the Guarantors of their obligations hereunder and to the following additional conditions precedent: 

(a) Accountants’ Comfort Letters. The Initial Purchaser shall have received from Ernst & Young LLP a
letter, dated respectively, the date hereof and the Closing Date, in form and substance satisfactory to the Initial Purchaser concerning the financial information with respect to the Company set forth in the General Disclosure Package and the Final
Offering Memorandum. 
 (b) No Material Adverse Change. Subsequent to the execution and delivery of this
Agreement, there shall not have occurred (i) any change, or any development or event involving a prospective change, in the condition (financial or otherwise), results of operations, business, properties or prospects of the Company and its
subsidiaries taken as a whole which, in the judgment of the Initial Purchaser, is material and adverse and makes it impractical or inadvisable to market the Offered Securities; (ii) any downgrading in the rating of any debt securities of the
Company or any Guarantor by any 

  
 20 

 
“nationally recognized statistical rating organization” (as defined for purposes of Rule 436(g)), or any public announcement that any such organization has under surveillance or review
its rating of any debt securities of the Company or any Guarantor (other than an announcement with positive implications of a possible upgrading, and no implication of a possible downgrading, of such rating) or any announcement that the Company or
any Guarantor has been placed on negative outlook; (iii) any change in U.S. or international financial, political or economic conditions or currency exchange rates or exchange controls the effect of which is such as to make it, in the judgment
of the Initial Purchaser, impractical to market or to enforce contracts for the sale of the Offered Securities, whether in the primary market or in respect of dealings in the secondary market; (iv) any suspension or material limitation of
trading in securities generally on the New York Stock Exchange, or any setting of minimum or maximum prices for trading on such exchange; (v) or any suspension of trading of any securities of the Company or any Guarantor on any exchange or in
the over-the-counter market (other than in connection with the events described in clause (iv) above); (vi) any banking moratorium declared by any U.S. federal or New York authorities; (vii) any major disruption of settlements of
securities, payment, or clearance services in the United States or any other country where such securities are listed or (viii) any attack on, outbreak or escalation of hostilities or act of terrorism involving the United States, any
declaration of war by Congress or any other national or international calamity or emergency if, in the judgment of the Initial Purchaser, the effect of any such attack, outbreak, escalation, act, declaration, calamity or emergency is such as to make
it in the judgment of the Initial Purchaser impractical or inadvisable to market the Offered Securities or to enforce contracts for the sale of the Offered Securities. 

(c) Opinion of Counsel for Company. The Initial Purchaser shall have received an opinion, dated the Closing Date,
of Vinson & Elkins L.L.P., counsel for the Company and the Guarantors, in form and substance reasonably satisfactory to the Initial Purchaser, substantially in the form attached hereto as Exhibit B. 

(d) Opinion of Counsel for Initial Purchaser. The Initial Purchaser shall have received from Baker Botts L.L.P.,
counsel for the Initial Purchaser, such opinion or opinions, dated the Closing Date, with respect to such matters as the Initial Purchaser may reasonably require, and the Company and the Guarantors shall have furnished to such counsel such documents
as they request for the purpose of enabling them to pass upon such matters. 
 (e) Officers’
Certificate. The Initial Purchaser shall have received certificates, dated the Closing Date, of an executive officer of the Company and the Guarantors and a principal financial or accounting officer of the Company and the Guarantors in which
such officers shall state that: 
 (i) the representations, warranties and agreements of the Company and the
Guarantors in Section 2 hereof are true and correct on and as of the Closing Date, and each of the Company and each Guarantor has complied with all its agreements contained herein and satisfied all the conditions on its part to be performed or
satisfied hereunder at or prior to the Closing Date; 

  
 21 

 (ii) they have carefully examined the General Disclosure Package and the
Final Offering Memorandum, and, in their opinion, (A) the Final Offering Memorandum, or any amendment or supplement thereto, as of its date and as of the Closing Date, or (B) the General Disclosure Package, as of the Applicable Time, did
not and do not contain any untrue statement of a material fact and did not and do not 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; and

 (iii) Since the respective dates as of which information is given in the General Disclosure Package and the
Final Offering Memorandum, except as disclosed in the certificate, (1) there has been no material adverse change, nor any development or event involving a prospective material adverse change, in the condition (financial or otherwise), results
of operations, business, properties or prospects of the Company and its subsidiaries taken as a whole, except as set forth in the General Disclosure Package; and (2) neither the Company nor any of its subsidiaries has sustained any loss or
interference with its business from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree which would have a Material Adverse Effect otherwise than
as set forth or contemplated in the General Disclosure Package and the Final Offering Memorandum. 
 (f)
Registration Rights Agreement. On the Closing Date, the Initial Purchaser shall have received the Registration Rights Agreement executed by the Company and the Guarantors and such agreement shall be in full force and effect. 

Documents described as being “in the agreed form” are documents which are in the forms which have been initialed for the
purpose of identification by Baker Botts L.L.P., copies of which are held by the Company, the Guarantors and the Initial Purchaser, with such changes as the Initial Purchaser may approve. 

The Company and the Guarantors will furnish the Initial Purchaser with such conformed copies of such opinions, certificates, letters and
documents as the Initial Purchaser reasonably requests. The Initial Purchaser may in its sole discretion waive compliance with any conditions to the obligations of the Initial Purchaser hereunder. 

8. Indemnification and Contribution. 
 (a) Indemnification of Initial Purchaser. The Company and the Guarantors jointly and severally will indemnify and hold harmless the Initial Purchaser, its officers, employees, agents, partners,
members and directors, affiliates of the Initial Purchaser who have, or who are alleged to have, participated in the distribution of the Offered Securities as underwriters, and each person, if any, who controls the Initial Purchaser within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Indemnified Party”), against any and all losses, claims, damages or liabilities, joint or several, to which such Indemnified Party
may become subject, under the Securities Act, the Exchange Act, other Federal or state statutory law or regulation or 

  
 22 

 
otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material
fact contained in the Preliminary Offering Memorandum or the Final Offering Memorandum, in each case as amended or supplemented, or any Issuer Free Writing Communication (including without limitation, any Supplemental Marketing Material), or arise
out of or are based upon the omission or alleged omission of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading and will reimburse each Indemnified Party
for any legal or other expenses reasonably incurred by such Indemnified Party in connection with investigating, preparing or defending against any loss, claim, damage, liability, action, litigation, investigation or proceeding whatsoever (whether or
not such Indemnified Party is a party thereto) whether threatened or commenced and in connection with the enforcement of this provision with respect to any of the above as such expenses are incurred; provided, however, that the Company and the
Guarantors will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement in or omission or alleged omission from any of such documents
in reliance upon and in conformity with written information furnished to the Company by the Initial Purchaser specifically for use therein, it being understood and agreed that the only such information consists of the information described as such
in subsection (b) below. 
 (b) Indemnification of Company. The Initial Purchaser will indemnify and
hold harmless each of the Company, the Guarantors, each of their respective directors and each of their respective officers, employees, agents, partners, members and each person, if any, who controls the Company or such Guarantor within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act (each, an “Initial Purchaser Indemnified Party”), against any and all losses, claims, damages or liabilities to which such Initial Purchaser Indemnified
Party may become subject, under the Securities Act, the Exchange Act, other Federal or state statutory law or regulation or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based
upon any untrue statement or alleged untrue statement of any material fact contained in the Preliminary Offering Memorandum or the Final Offering Memorandum, in each case as amended or supplemented, or any Issuer Free Writing Communication or arise
out of or are based upon the omission or the alleged omission of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, in each case to the extent, but only to
the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Company by the Initial Purchaser specifically for use therein,
and will reimburse any legal or other expenses reasonably incurred by such Initial Purchaser Indemnified Party in connection with investigating, preparing or defending against any such loss, claim, damage, liability, action, litigation,
investigation or proceeding whatsoever (whether or not such Initial Purchaser Indemnified Party is a party thereto) whether threatened or commenced in connection with the enforcement of this provision with respect to any of the above as such
expenses are incurred, it being understood and agreed that the only such information furnished by the Initial Purchaser consists of the following information in the Preliminary and Final Offering

  
 23 

 
Memorandum: the second, ninth and tenth paragraphs under the caption “Plan of Distribution”; provided, however, that the Initial Purchaser shall not be liable for any losses, claims,
damages or liabilities arising out of or based upon the Company’s failure to perform its obligations under Section 5(a) of this Agreement. 
 (c) Actions against Parties; Notification. Promptly after receipt by an indemnified party under this Section 8 of notice of the commencement of any action, such indemnified party will, if a
claim in respect thereof is to be made against the indemnifying party under subsection (a) or (b) above, notify the indemnifying party of the commencement thereof; but the failure to notify the indemnifying party shall not relieve it from
any liability that it may have under subsection (a) or (b) above except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided further that the failure
to notify the indemnifying party shall not relieve it from any liability that it may have to an indemnified party otherwise than under subsection (a) or (b) above. In case any such action is brought against any indemnified party and it
notifies the indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein and, to the extent that it may wish, jointly with any other indemnifying party similarly notified, to assume the defense
thereof, with counsel satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and after notice from the indemnifying party to such indemnified party of its
election so to assume the defense thereof, the indemnifying party will not be liable to such indemnified party under this Section 8 for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense
thereof other than reasonable costs of investigation. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened action in respect of which any indemnified party is or
could have been a party and indemnity could have been sought hereunder by such indemnified party unless such settlement includes (i) an unconditional release of such indemnified party from all liability on any claims that are the subject matter
of such action and (ii) does not include a statement as to or an admission of fault, culpability or failure to act by or on behalf of any indemnified party. 

(d) Contribution. If the indemnification provided for in this Section 8 is unavailable or insufficient to hold
harmless an indemnified party under subsection (a) or (b) above, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of the losses, claims, damages or liabilities referred to in
subsection (a) or (b) above (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the Initial Purchaser on the other from the offering of the Offered Securities or
(ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the
Company and the Guarantors on the one hand and the Initial Purchaser on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities as well as any other relevant equitable considerations.
The relative benefits received by the Company and the Guarantors on the one hand and the Initial Purchaser on the other shall be deemed to be in the same proportion as the total net 

  
 24 

 
proceeds from the offering (before deducting expenses) received by the Company bear to the total discounts and commissions received by the Initial Purchaser from the Company under this Agreement.
The relative fault 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 relates to information supplied by the Company
and the Guarantors or the Initial Purchaser and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The amount paid by an indemnified party as a result of the
losses, claims, damages or liabilities referred to in the first sentence of this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending
any action or claim which is the subject of this subsection (d). Notwithstanding the provisions of this subsection (d), the Initial Purchaser shall not be required to contribute any amount in excess of the amount by which the total price at which
the Offered Securities purchased by it were resold exceeds the amount of any damages which the Initial Purchaser has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. The Company,
the Guarantors and the Initial Purchaser agree that it would not be just and equitable if contribution pursuant to this Section 8(d) were determined by pro rata allocation or by any other method of allocation which does not take account of the
equitable considerations referred to in this Section 8(d). 
 9. Survival of Certain Representations and
Obligations. The respective indemnities, agreements, representations, warranties and other statements of the Company, the Guarantors or their respective officers and of the Initial Purchaser set forth in or made pursuant to this Agreement will
remain in full force and effect, regardless of any investigation, or statement as to the results thereof, made by or on behalf of the Initial Purchaser, the Company, the Guarantors or any of their respective representatives, officers or directors or
any controlling person, and will survive delivery of and payment for the Offered Securities. If for any reason the purchase of the Offered Securities by the Initial Purchaser is not consummated, the Company and the Guarantors shall remain
responsible for the expenses to be paid or reimbursed by it pursuant to Section 5 and the respective obligations of the Company, the Guarantors and the Initial Purchaser pursuant to Section 8 shall remain in effect. If the purchase of the
Offered Securities by the Initial Purchaser is not consummated for any reason other than solely because of the occurrence of any event specified in clauses (iii), (iv), (vi), (vii) or (viii) of Section 7(b), the Company and the
Guarantors will reimburse the Initial Purchaser for all out-of-pocket expenses (including fees and disbursements of counsel) reasonably incurred by the Initial Purchaser in connection with the offering of the Offered Securities. 

10. Notices. All communications hereunder will be in writing and, if sent to the Initial Purchaser will be mailed, delivered or
telegraphed and confirmed to the Initial Purchaser at RBC Capital Markets, LLC, Three World Financial Center, 200 Vesey Street, 10th Floor, New York, New York 10281-8098, Facsimile: (212) 618-2210, Attention: High Yield Capital Markets, or, if
sent to the Company or the Guarantors, will be mailed, delivered or telegraphed and confirmed to it at Three Allen Center, 333 Clay Street, Suite 4620, Houston, Texas 77002, Attention: Bradley J. Dodson. 

  
 25 

 11. Successors. This Agreement will inure to the benefit of and be binding upon the
parties hereto and their respective successors and the controlling persons referred to in Section 8, and no other person will have any right or obligation hereunder, except that holders of Offered Securities shall be entitled to enforce the
agreements for their benefit contained in the second and third sentences of Section 5(b) hereof against the Company as if such holders were parties thereto. 
 12. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same
Agreement. 
 13. Absence of Fiduciary Relationship. The Company and the Guarantors acknowledge and agree that:

 (a) No Other Relationship. The Initial Purchaser has been retained solely to act as initial purchaser
in connection with the initial purchase, offering and resale of the Offered Securities and that no fiduciary, advisory or agency relationship between the Company or the Guarantors and the Initial Purchaser has been created in respect of any of the
transactions contemplated by this Agreement or the Preliminary Offering Memorandum or the Final Offering Memorandum, irrespective of whether the Initial Purchaser has advised or is advising the Company or the Guarantors on other matters; 

(b) Arm’s-Length Negotiations. The purchase price of the Offered Securities set forth in this Agreement was
established by the Company and the Guarantors following discussions and arms-length negotiations with the Initial Purchaser and the Company and the Guarantors are capable of evaluating and understanding and understand and accept the terms, risks and
conditions of the transactions contemplated by this Agreement; 
 (c) Absence of Obligation to Disclose.
The Company has and the Guarantors have been advised that the Initial Purchaser and its affiliates are engaged in a broad range of transactions which may involve interests that differ from those of the Company or the Guarantors and that the Initial
Purchaser has no obligation to disclose such interests and transactions to Company or the Guarantors by virtue of any fiduciary, advisory or agency relationship; and 

(d) Waiver. The Company and each Guarantor waive, to the fullest extent permitted by law, any claims it may have
against the Initial Purchaser for breach of fiduciary duty or alleged breach of fiduciary duty and agree that the Initial Purchaser shall have no liability (whether direct or indirect) to the Company or the Guarantors in respect of such a fiduciary
duty claim or to any person asserting a fiduciary duty claim on behalf of or in right of the Company, including stockholders, employees or creditors of the Company or the Guarantors. 

14. Applicable Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New
York. 

  
 26 

 The Company and the Guarantors hereby submit to the non-exclusive jurisdiction of the
Federal and state courts in the Borough of Manhattan in The City of New York in any suit or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. The Company and the Guarantors irrevocably and
unconditionally waive any objection to the laying of venue of any suit or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby in Federal and state courts in the Borough of Manhattan in The City of New York
and irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such suit or proceeding in any such court has been brought in an inconvenient forum. 

[Signature pages follows] 

  
 27 

 If the foregoing is in accordance with the Initial Purchaser’s understanding of our
agreement, kindly sign and return to us one of the counterparts hereof, whereupon it will become a binding agreement between the Company, the Guarantors and the Initial Purchaser in accordance with its terms. 

 

			
	Very truly yours,
	
	OIL STATES INTERNATIONAL, INC.
		
	By:	 	 /s/ Bradley J. Dodson

		 	Bradley J. Dodson
		 	Senior Vice President, Chief Financial Officer and
		 	Treasurer
	
	ACUTE TECHNOLOGICAL SERVICES, INC.
	OIL STATES SKAGIT SMATCO, LLC
	OIL STATES INDUSTRIES, INC.
		
	By:	 	 /s/ Bradley J. Dodson

		 	Bradley J. Dodson
		 	Vice President and Assistant Treasurer
	
	CAPSTAR DRILLING, INC.
	CAPSTAR HOLDING, L.L.C.
	GENERAL MARINE LEASING, LLC
	OIL STATES ENERGY SERVICES HOLDING, INC.
	OIL STATES ENERGY SERVICES, L.L.C.
	SOONER HOLDING COMPANY
	SOONER INC.
	SOONER PIPE, L.L.C.
		
	By:	 	 /s/ Bradley J. Dodson

		 	Bradley J. Dodson
		 	Vice President and Treasurer

 [Signature Page to Purchase Agreement] 

 
					
	PTI MARS HOLDCO 1, LLC
		
	By:	 	 /s/ Bradley J. Dodson

		 	Bradley J. Dodson
		 	Vice President, Chief Financial Officer and
		 	Treasurer
	
	OSES INTERNATIONAL HOLDING, L.L.C.
			
		 	By:	 	OIL STATES ENERGY SERVICES HOLDING, INC.,
		 		 	its sole member
			
		 	By:	 	 /s/ Bradley J. Dodson

		 		 	Bradley J. Dodson
		 		 	Vice President and Treasurer
	
	PTI GROUP USA LLC
	OIL STATES MANAGEMENT, INC.
		
	By:	 	 /s/ Bradley J. Dodson

		 	Bradley J. Dodson
		 	Vice President

 [Signature Page to Purchase Agreement] 

			
	The foregoing Purchase Agreement
	 is hereby confirmed and acceptedas of the date first above written.

	
	RBC CAPITAL MARKETS, LLC
		
	By:	 	 /s/ J. Scott Schlossel

		 	Name: J. Scott Schlossel
		 	Title:   Managing Director

 [Signature Page to Purchase Agreement] 

 SCHEDULE A 
 Guarantors 
  

			
	 Name
	  	Jurisdiction of Organization
	 Acute Technological Services, Inc.
	  	Texas
	 Capstar Holding, L.L.C.
	  	Delaware
	 Capstar Drilling, Inc.
	  	Texas
	 General Marine Leasing, LLC
	  	Delaware
	 Oil States Energy Services, L.L.C.
	  	Delaware
	 Oil States Energy Services Holding, Inc.
	  	Delaware
	 Oil States Management, Inc.
	  	Delaware
	 Oil States Industries, Inc.
	  	Delaware
	 Oil States Skagit SMATCO, LLC
	  	Delaware
	 OSES International Holding, L.L.C.
	  	Delaware
	 PTI Group USA LLC
	  	Delaware
	 PTI Mars Holdco 1, LLC
	  	Delaware
	 Sooner Inc.
	  	Delaware
	 Sooner Pipe, L.L.C.
	  	Delaware
	 Sooner Holding Company
	  	Delaware

  

  
 Schedule A-1

 SCHEDULE B 
 List of Subsidiaries 
  

			
	 Name
	  	 Jurisdiction of Organization

	 892493 Alberta Inc.
	  	Alberta
	 892489 Alberta Inc.
	  	Alberta
	 3045843 Nova Scotia Company
	  	Nova Scotia
	 Acute Technological Services, Inc.
	  	Texas
	 Capstar Drilling, Inc.
	  	Texas
	 Capstar Holding, L.L.C.
	  	Delaware
	 Christina Lake Enterprises Ltd.
	  	Alberta
	 Crown Camp Services Ltd.
	  	Alberta
	 Ek’Ati Services Ltd.
	  	Northwest Territories
	 Elastomeric Actuators, Inc.
	  	Texas
	 General Marine Construction, Inc.
	  	Louisiana
	 General Marine Leasing, LLC
	  	Delaware
	 General Marine Offshore Equipment, Inc.
	  	Louisiana
	 MAC Investments LLC
	  	Delaware
	 MAC Services Asia Limited
	  	Hong Kong
	 MAC Real Estate Pty. Ltd.
	  	Australia
	 Metis Catering Joint Venture Ltd.
	  	Alberta
	 Norwel Developments Limited
	  	Northwest Territories
	 Oil States Industries do Brasil – Instalacoes Maritimas Ltda.
	  	Rio de Jeneiro, Brazil
	 Oil States Energy Services, L.L.C.
	  	Delaware
	 Oil States Energy Services Holding, Inc.
	  	Delaware
	 Oil States Energy Services S.A. de C.V.
	  	Mexico
	 Oil States Industries (Asia) PTE LTD
	  	Singapore
	 Oil States Industries (Thailand) Ltd.
	  	Rayong, Thailand
	 Oil States Industries (UK) Limited
	  	United Kingdom
	 Oil States Industries Nigeria Limited
	  	Nigeria
	 Oil States Industries, Inc.
	  	Delaware
	 OIS International Investments C.V.
	  	The Netherlands
	 Oil States Klaper Limited
	  	United Kingdom
	 Oil States Management, Inc.
	  	Delaware
	 Oil States Martec de Mexico
	  	Mexico
	 Oil States MCS, Limited
	  	United Kingdom
	 Oil States Skagit SMATCO, LLC
	  	Delaware
	 OSES International Holding, L.L.C
	  	Delaware
	 OSES International, L.L.C.
	  	Delaware
	 PTI Atlantic, Ltd.
	  	Newfoundland and Labrador
	 PTI Camp Installations Ltd.
	  	Alberta
	 PTI Group USA LLC
	  	Delaware
	 PTI Group Inc.
	  	Alberta
	 PTI Holding Company 1 Pty Ltd.
	  	Australia

  

  
 Schedule B-1

			
	 PTI Holding Company 2 Pty Ltd.
	  	Australia
	 PTI International (Europe) BV
	  	The Netherlands
	 PTI International Inc.
	  	Alberta
	 PTI International Ltd.
	  	Alberta
	 PTI Mars Coöperatief 1 U.A.
	  	Netherlands
	 PTI Mars Coöperatief 2 U.A.
	  	Netherlands
	 PTI Mars Coöperatief 3 U.A.
	  	Netherlands
	 PTI Mars Holdco 1, LLC
	  	Delaware
	 PTI Mars Holdco 2, LLC
	  	Delaware
	 PTI Mars Holdco 3, LLC
	  	Delaware
	 PTI Mars Holdco 4, LLC
	  	Delaware
	 PTI Noble Structure, Inc.
	  	Alberta
	 PTI Premium Camp Services Ltd.
	  	Alberta
	 PTI Remote Site Services USA, Inc.
	  	Alaska
	 PTI Travco Modular Structures Ltd.
	  	Alberta
	 PTI USA Manufacturing L.L.C.
	  	Delaware
	 Sooner Holding Company
	  	Delaware
	 Sooner Inc.
	  	Delaware
	 Sooner Pipe & Supply Nigeria Limited
	  	Nigeria
	 Sooner Pipe & Supply Venezuela S.A.
	  	Venezuela
	 Sooner Pipe, L.L.C.
	  	Delaware
	 Stinger Mexicana S.A. de C.V.
	  	Tamaulipas, Mexico
	 Stinger Wellhead International, Inc.
	  	Commonwealth of the
Bahamas
	 Stinger Wellhead Protection (Canada) Incorporated
	  	Alberta
	 The MAC Linen Pty. Ltd.
	  	Australia
	 The MAC Services Group Pty. Ltd.
	  	Australia

  

  
 Schedule B-2

 SCHEDULE C 
 Issuer Free Writing Communications (included in the General Disclosure Package) 
 1. Final term sheet, dated December 18, 2012, a copy of which is attached hereto as Exhibit A. 

 

  
 Schedule C-1

 Exhibit A 
 Pricing Term Sheet 
 $400,000,000 

 
 

 
 Oil States International, Inc. 

5 1/8% Senior Notes due 2023 

Pricing Term Sheet 

This Pricing Term Sheet is qualified in its entirety by reference to the Preliminary Offering Memorandum dated December 18, 2012. The information in
this Pricing Term Sheet supplements the Preliminary Offering Memorandum and supersedes the information in the Preliminary Offering Memorandum to the extent inconsistent with the information in the Preliminary Offering Memorandum. Capitalized terms
used but not defined in this Pricing Term Sheet have the respective meanings ascribed to them in the Preliminary Offering Memorandum. 
  

			
	Issuer:	  	Oil States International, Inc.
		
	Guarantors:	  	All existing material domestic subsidiaries and certain future subsidiaries
		
	Security Description:	  	5 1/8% Senior Notes due 2023
		
	Face:	  	$400,000,000
		
	Maturity:	  	January 15, 2023
		
	Coupon:	  	5.125%
		
	Offering Price:	  	100.000% plus accrued interest, if any, from December 21, 2012
		
	Yield to Maturity:	  	5.125%
		
	Spread to Treasury:	  	329 basis points
		
	Benchmark:	  	UST 1.625% due November 15, 2022
		
	Interest Payment Dates:	  	January 15 and July 15
		
	Commencing:	  	July 15, 2013
		
	Record Dates:	  	January 1 and July 1
		
	Equity Clawback	  	35% before January 15, 2016 at 105.125%
		
	Optional Redemption:	  	 Callable, on or after the following dates, and at the following prices:

 
 Date
                                         
                                       
Price
 January 15, 2018
                                    102.563%

January 15, 2019
                                    101.708%

January 15, 2020
                                    100.854%

January 15, 2021 and thereafter              100.000%

		
	Make-Whole:	  	T+50 until January 15, 2018
		
	Trade Date:	  	December 18, 2012

  
 Exhibit A-1

			
	Settlement Date:	  	December 21, 2012 (T+3)
		
	Distribution:	  	144A and Regulation S with registration rights as set forth in the Preliminary Offering Memorandum
		
	CUSIP:	  	678026 AE5 144A / U6785Y AB6 Reg S
		
	ISIN:	  	US678026AE56 144A / USU6785YAB66 Reg S
		
	Minimum Allocations:	  	$2,000
		
	Increments:	  	$1,000
		
	Ratings(1):	  	Ba3 / BB+
		
	Sole Book-Running Manager:	  	RBC Capital Markets, LLC
		
	 Changes to the Preliminary Offering
 Memorandum:
	  	The following changes will be made to the Preliminary Offering Memorandum:

 The following disclosure under “Use of Proceeds” on page 31 and each other location where such information
appears in the Preliminary Offering Memorandum is amended to read as follows: 
 We expect the net proceeds from this offering to
be approximately $395.4 million, after deducting the initial purchaser’s discount and our estimated expenses. We intend to use the net proceeds to repay the outstanding borrowings under our U.S. revolving credit facility and for general
corporate purposes. 
 The following disclosure in each location where such information appears in the Preliminary Offering Memorandum is
amended to read as follows: 
 As of September 30, 2012, after giving effect to the issuance of the Notes and the use of
proceeds thereof and the Tempress acquisition, the Issuer would have had approximately $1,310.5 million of total Indebtedness, $301.7 million of which was secured (excluding $36.0 million of outstanding letters of credit), and had availability for
up to $714.0 million of additional borrowings under the Credit Agreement (after giving effect to outstanding letters of credit and bankers’ acceptances) and $274.2 million available under the Australian Credit Facility. 

(1) These securities ratings have been provided by Moody’s and S&P. Neither of these ratings is a recommendation to buy, sell or hold these
securities. Each rating may be subject to revision or withdrawal at any time, and should be evaluated independently of any other rating. 

This communication is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy any security.
This communication is not intended to be a confirmation as required under Rule 10b-10 of the Securities Exchange Act of 1934. A formal confirmation will be delivered to you separately. This notice shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of the notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The notes will be offered and sold only to qualified institutional buyers in the
United States in reliance on Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act. The notes have not been
registered under the Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements. 

  
 Exhibit A-2

 Exhibit B 
 Form of Opinion of Vinson & Elkins L.L.P. 
 (a) Each of the
Company and each Guarantor is validly existing and in good standing as a corporation or other business entity under the laws of its jurisdiction of incorporation, organization or formation, as the case may be, with full power and authority
(corporate and other) necessary to own or lease its properties and to conduct its business, in each case as described in the General Disclosure Package and the Final Offering Memorandum in all material respects. Each of the Company and each
Guarantor is duly registered or qualified to do business as a foreign corporation or other business entity, as the case may be, in good standing under the laws of each jurisdiction set forth opposite its name on Exhibit A to such opinion.

 (b) Each of the Company and each Guarantor has all requisite corporate, limited liability company, or limited partnership
power and authority to execute, deliver and perform its obligations under the Purchase Agreement, the Indenture, the Offered Securities and the Exchange Securities to which it is a party and to consummate the transactions contemplated thereby. The
Purchase Agreement has been duly executed and delivered by the Company. 
 (c) The Indenture has been duly and validly
authorized, executed and delivered by the Company and each of the Guarantors and, assuming the due authorization, execution and delivery thereof by the Trustee, constitutes the valid and legally binding agreement of the Company and each of the
Guarantors, enforceable against them in accordance with its terms, except that the enforcement thereof may be subject to the Enforceability Exceptions. 
 (d) The Offered Securities have been duly and validly authorized and executed by the Company and, when the Offered Securities are duly executed, issued and delivered by the Company and, when authenticated
in accordance with the provisions of the Indenture and delivered to and paid for by the Initial Purchaser pursuant to the Purchase Agreement on the Closing Date (assuming the due authorization, execution and delivery of the Indenture by the Trustee
and due authentication and delivery of the Offered Securities by the Trustee in accordance with the Indenture), such Offered Securities will constitute the valid and legally binding obligations of the Company, entitled to the benefits of the
Indenture, and enforceable against the Company in accordance with their terms, subject to the Enforceability Exceptions. 
 (e)
The Guarantee endorsed on the Offered Securities by each Guarantor has been duly and validly authorized and executed by such Guarantor and, when the Offered Securities are delivered to and paid for by the Initial Purchaser pursuant to the Purchase
Agreement on the Closing Date (assuming the due authorization, execution and delivery of the Indenture by the Trustee and due authentication and delivery of the Offered Securities by the Trustee in accordance with the Indenture), the Guarantee of
each Guarantor endorsed thereon will constitute valid and legally binding obligations of such Guarantor, entitled to the benefits of the Indenture, and enforceable in accordance with its terms, subject to the Enforceability Exceptions. 

(f) The Registration Rights Agreement has been duly authorized, executed and delivered by the Company and the Guarantors and, assuming
the due authorization, execution and delivery thereof by the Initial Purchaser, constitutes the valid and legally binding obligations 

  
 Exhibit B-1

 
of the Company and the Guarantors, enforceable in accordance with their terms, subject to the Enforceability Exceptions and any rights to indemnity or contribution thereunder may be limited by
federal and state securities laws and public policy considerations. 
 (g) No consent, approval, authorization, or order of, or
filing or registration with, any person (including any governmental agency or body or any court) is required for the execution, delivery and performance of the Purchase Agreement by the Company and the Guarantors, the consummation of the
transactions contemplated by the Purchase Agreement, the Indenture and the Registration Rights Agreement in connection with the offering, issuance and sale of the Offered Securities and the Guarantees by the Company and the Guarantors, and the
application of the proceeds from the sale of the Offered Securities by the Company as described under “Use of Proceeds” in the General Disclosure Package and the Final Offering Memorandum, except for, (i) if required, the order of the
Commission declaring effective the Exchange Offer Registration Statement or, if required, the Shelf Registration Statement (each as defined in the Registration Rights Agreement), (ii) if required, the qualification of the Indenture under the
Trust Indenture Act in connection with the issuance of the Exchange Notes, (iii) such as have previously been obtained and (iv) applicable federal, state or foreign securities laws in connection with the purchase and sale of the Offered
Securities by the Initial Purchaser as to which such counsel need express no opinion other than the opinion provided in paragraph (j) below. 
 (h) The execution, delivery and performance of the Indenture, the Offered Securities, the Registration Rights Agreement and the Purchase Agreement by the Company and the Guarantors, the issuance and sale
of the Offered Securities and the Guarantees by the Company and the Guarantors and compliance with the terms and provisions thereof, and the application of the proceeds from the sale of the Offered Securities by the Company as described under
“Use of Proceeds” in the General Disclosure Package and the Final Offering Memorandum will not (i) result in a breach or violation of any of the terms or provisions of, or constitute a default or a Debt Repayment Triggering Event
under, or result in the imposition of any lien, charge or encumbrance upon any property or assets of the Company or its subsidiaries pursuant to, any instrument to which the Company is a party and which is filed as an exhibit and set forth on the
exhibit list to the Company’s Annual Report on Form 10-K for the year ended December 31, 2011 or any other report filed by the Company with the Commission under Section 13(a) of the Exchange Act after the date of such Annual Report on
Form 10-K and through the dates of the General Disclosure Package and the Final Offering Memorandum, which reports are incorporated by reference in the General Disclosure Package and the Final Offering Memorandum; (ii) result in any violation
of the provisions of the charter or by-laws (or similar organizational documents) of the Company or any of the Guarantors; or (iii) result in any violation of any statute or any judgment, order, rule or regulation of any court or governmental
agency or body having jurisdiction over the Company or any of its subsidiaries or any of their properties or assets, except in the case of clauses (i) and (iii) above for such conflicts, breaches, defaults, violations or liens that, in the
aggregate, would not reasonably be expected to have a Material Adverse Effect, and except that with respect to clause (iii) above, such counsel need express no opinion as to any state or federal securities or Blue Sky laws or federal or state
antifraud laws, rules or regulations, except for the opinion set forth in (j) below. 

  
 Exhibit B-2

 (i) Neither the Company nor any Guarantor is, after giving effect to the offering and sale
of the Offered Securities and the application of the proceeds thereof as described in the General Disclosure Package and the Final Offering Memorandum, will be, an “investment company” within the meaning of such term under the Investment
Company Act. 
 (j) Assuming the accuracy of the representations, warranties and agreements of the Company, the Guarantors and
the Initial Purchaser contained in the Purchase Agreement, (A) no registration under the Securities Act of the Offered Securities is required in connection with the sale of the Offered Securities to the Initial Purchaser or in connection with
the initial resale of the Offered Securities by the Initial Purchaser, in each case as contemplated by the Purchase Agreement, the General Disclosure Package and the Final Offering Memorandum, and (B) prior to the commencement of the Exchange
Offer or the effectiveness of any registration statement prepared in connection with the Company’s obligations under the Registration Rights Agreement, the Indenture is not required to be qualified under the Trust Indenture Act. 

(k) The statements in the General Disclosure Package and the Final Offering Memorandum under the captions “Description of the
Notes,” “Description of Other Indebtedness,” and “Certain United States Federal Income Tax Consequences”, insofar as such statements summarize legal matters, agreements, documents or proceedings discussed therein, have been
reviewed by us and are accurate in all material respects. 
 In addition, such counsel shall also state that it has participated
in conferences with representatives of the Company and with representatives of its independent registered public accounting firm at which conferences the contents of the General Disclosure Package and the Final Offering Memorandum and related
matters were discussed. Although such counsel has not undertaken to determine independently, and does not assume any responsibility for, or express any opinion regarding the accuracy, completeness or fairness of the statements contained in the
General Disclosure Package or the Final Offering Memorandum (except as expressly provided above), based upon the participation described above, nothing has come to the attention of such counsel to cause such counsel to believe that the General
Disclosure Package, as of the Applicable Time, or that the Final Offering Memorandum, as of its date or at the Closing Date, contained or contains any untrue statement of a material fact or omitted or omits to state a material fact necessary to make
the statements therein, in the light of the circumstances under which they were made, not misleading. In making the foregoing statement, such counsel need not express any comment or belief with respect to the financial statements and notes and
related schedules and other financial and accounting data contained in or omitted from the General Disclosure Package or the Final Offering Memorandum. 

  
 Exhibit B-3Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (the
“Agreement”) is entered into as of the 18th day of December, 2012, by and between ASHEVILLE SAVINGS BANK, S.S.B., a North Carolina chartered savings bank (the “Bank” or the “Employer”), and VIKKI D. BAILEY
(“Executive”). References to the “Company” herein shall mean ASB Bancorp, Inc., a North Carolina corporation. 
 RECITALS 
 WHEREAS, the Executive serves in a position of
substantial responsibility with the Bank; and 
 WHEREAS, the Bank and the Executive wish to set forth the terms of the
Executive’s employment with the Bank as Executive Vice President and Chief Retail Officer; 
 NOW, THEREFORE, in
consideration of the mutual promises of the parties hereto and for other good and valuable consideration, the receipt and adequacy whereof each party hereby acknowledges, the Bank and Executive hereby agree as follows: 

1. DEFINITIONS: The following terms shall have the following meanings for all purposes of this Agreement: 

Base Salary means the annual base compensation specified in Section 4 below. 

Board means the Board of Directors of the Bank. 
 Cause means any of the reasons listed in Section 7(d) below for which this Agreement may be terminated or Executive may be discharged prior to the end of the Term hereof. 

Change of Control means and shall be deemed to have occurred upon the occurrence of any of the following events. 

(1) The acquisition by any “person” or “group” (as defined in or pursuant to Sections 13(d) and 14(d) of the Exchange
Act) (other than Company, any Subsidiary or any Company or Subsidiary’s employee benefit plan), directly or indirectly, as “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of securities representing fifty percent
(50%) or more of either the then outstanding shares or the combined voting power of the then outstanding securities of Company or the Bank; 
 (2) Either a majority of the directors of Company elected at Company’s annual stockholders meeting shall have been nominated for election other than by or at the direction of the “incumbent
directors” of Company, or the “incumbent directors” shall cease to constitute a majority of the directors of Company. The term “incumbent director” shall mean any director who was a director of Company on the Effective Date
and any individual who becomes a director of Company subsequent to the Effective Date and who is elected or nominated by or at the direction of at least majority of the then incumbent directors; or 

(3) The consummation of (x) a merger, consolidation or other business combination of Company with any other “person” or
“group” (as defined in or pursuant to Sections 13(d) and 14(d) of the 1934 Act) or affiliate thereof, other than a merger or consolidation that would result in the outstanding 

 
common stock of Company immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into common stock of the surviving entity or a parent or affiliate
thereof) more than fifty percent (50%) of the outstanding common stock of Company or such surviving entity or a parent or affiliate thereof outstanding immediately after such merger, consolidation or other business combination, or (y) a
plan of complete liquidation of Company or the Bank or an agreement for the sale or disposition of all or substantially all of Company’s or the Bank’s assets. 
 Code means the Internal Revenue Code of 1986, as amended. 
 Effective
Date means the first day of the initial Term. 
 Exchange Act means the Securities Exchange Act of 1934, as amended.

 Good Reason means the occurrence of any of the conditions listed in Section 7(f) below which is followed by the
resignation of Executive within twelve (12) months after such occurrence. 
 Protected Customer shall mean any
person, business or entity who or which: 
 (1) Was known by Executive to have purchased products or services from Company, the
Bank or any Subsidiary other than the Bank during the two-year period immediately preceding Executive’s last day of employment with the Bank; or 
 (2) Purchased products or services from Company, the Bank or any Subsidiary other than the Bank during the two-year period immediately preceding Executive’s last day of employment with the Bank, and
about whom Executive had access to confidential or proprietary information during this period; or 
 (3) Was known by Executive
to have received (during the one-year period prior to Executive’s last day of employment with the Bank) but not yet acted upon a proposal by Company, the Bank or any Subsidiary other than the Bank for the purchase of products or performance of
services. 
 Resignation for Good Reason means resignation by Executive in accordance with the provisions of
Section 7(f) below. 
 Restricted Period means the one-year period described in Section 9(a) below. 

Subsidiary means any corporation at least a majority of the stock of which is owned by Company, either directly or through one or
more other Subsidiaries, and any other entity controlled, directly or indirectly, by Company or any other Subsidiary. 

Term means the term of this Agreement specified in Section 3 and 8(a) below, including the initial term and any extended
term. 
 Termination for Cause means discharge of Executive prior to the end of the Term in accordance with the
provisions of Section 7(d) below for any of the reasons listed therein. 
 Termination without Cause means discharge
of Executive prior to the end of the Term in accordance with the provisions of Section 7(e) below. 

  
 2 

 2. EMPLOYMENT:  
 During the Term, Executive shall serve as Executive Vice President and Chief Retail Officer of the Bank, reporting directly to and under the direction of, the President and Chief Executive Officer of the
Bank. Executive will perform all duties and have all powers typically associated with the position of Executive Vice President and Chief Retail Officer. In addition, Executive shall be responsible for such other duties as established and determined
within the discretion of the Chief Executive Officer or the Board. Executive agrees that, during the Term, Executive will devote full business time and energy to the business, affairs and interests of the Bank and serve diligently and to the best of
Executive’s ability. Executive may serve as a director, trustee or officer of other corporations and entities, including without limitation charitable organizations, and engage in other activities to the extent those activities and services do
not inhibit the performance of Executive’s duties hereunder or, in the opinion of the Board, conflict with the business of Company, the Bank or any Subsidiary. 
 3. TERM: The initial term of this Agreement shall be for the period beginning on December 1, 2012 and ending on October 18, 2014 subject, however, to earlier termination in the
manner provided in this Agreement. Commencing as of October 18, 2013 (the “Renewal Date”) and continuing as of each anniversary of the Renewal Date thereafter, the disinterested members of the Board may, in the sole discretion of the
Board, extend the Agreement term for an additional year, so that the term of the Agreement shall be twenty-four (24) full months from the applicable anniversary of the Renewal Date, unless the Executive elects not to extend the term of this
Agreement by giving written notice at least thirty (30) days prior to the applicable anniversary date. Notwithstanding the foregoing, the term of this Agreement shall be extended pursuant to Section 8(a) below upon the occurrence of a
Change of Control. 
 4. BASE SALARY; INCENTIVE COMPENSATION: 

(a) Executive shall receive an annual Base Salary at the rate of $135,000, payable in substantially equal installments no less
frequently than monthly (less any amounts withheld as required by law or pursuant to any benefits plan). At least annually, the Bank shall review and, in its sole discretion, may adjust, Executive’s Base Salary. If Executive’s Base Salary
is adjusted by the Bank, the new Base Salary shall then constitute the Base Salary for all purposes of this Agreement. 
 (b)
Executive shall be eligible to participate in any incentive compensation, bonus plans or arrangements of the Bank and the Company on the same terms as other senior officers of the Bank. Nothing paid to Executive under any such plans or arrangements
will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement. 
 5. EMPLOYEE BENEFITS AND
REIMBURSEMENTS:  
 (a) During the Term, Executive shall be eligible to participate in any retirement, group insurance,
hospitalization, incentive or deferred compensation and other benefit or compensation plans of the Bank presently in effect or hereafter adopted and generally available to all Bank’s senior officers, subject to the terms and conditions
specified in such plans. Executive shall also be eligible to any additional compensation, benefits or perquisites, if any, that may be provided specifically to or for Executive by the Bank and its affiliates from time to time. During the Term, to
the extent provided by corporate policies, Executive shall be reimbursed for expenditures (including travel, entertainment, parking and business meetings) made in pursuance and furtherance of the business and good will of the Bank. 

(b) Vacation and Leave. Executive will be entitled to vacation leave, sick leave, holidays and other paid absences in
accordance with the Bank’s policies and procedures for senior officers. 

  
 3 

 6. INDEMNIFICATION: 
 (a) The Bank and any Subsidiary of the Bank for which Executive provides services shall indemnify and hold Executive harmless from and against all liability and expense resulting from (1) all acts or
omissions of Executive while acting in the capacity of a director, officer, trustee, or fiduciary and/or employee of the Bank and any such Subsidiary during Executive’s employment as such director, officer, and/or employee and (2) acts or
omissions of the Bank and any such Subsidiary occurring or alleged to have occurred during or prior to Executive’s employment, on terms and conditions no less favorable to Executive than the terms and conditions providing for indemnification of
officers and directors under the Bank charter and each such Subsidiary’s governing documents. 
 (b) The Bank shall carry
directors and officers liability insurance in such amounts as the Bank in its discretion deems appropriate, and any payments made under such policy to Executive or on Executive’s behalf shall be offset against the indemnification obligation set
forth in Section 6(a). 
 (c) Notwithstanding the foregoing, the indemnification provided by Section 6(a) shall not
apply, and Executive shall not be indemnified, with respect to any acts or omissions which constitute wanton or willful misconduct or willful gross negligence. The indemnity obligation set forth in this Section 6 shall be subject to the
prohibitions and limitations established by applicable law and as set forth in applicable regulations adopted by any federal or state bank regulatory agency having jurisdiction over the Bank or any Subsidiary of the Bank for which Executive performs
services. 
 (d) The provisions of this Section 6 shall survive termination of this Agreement. 

7. TERMINATION: Executive’s employment under this Agreement may be terminated under any of the following conditions. 

(a) Disability: If Executive is unable to perform the essential functions of Executive’s positions on a full-time basis for a
period of six (6) consecutive months (or for such shorter period ending with Executive’s eligibility for and receipt of long-term disability benefits under an insurance policy or employee benefit plan provided or made available to
Executive by the Bank) by reason of illness or other physical or mental disability, the Bank shall have the right to terminate Executive’s employment under this Agreement at the end of the applicable period by written notice thereof. If
Executive’s employment is so terminated, Executive shall be paid any salary and benefits to which Executive may be entitled until the end of the payroll period in which the date of termination occurs, and thereafter, the Bank shall have no
further obligation for additional compensation and benefits under this Agreement. A condition of disability shall be determined by the Bank on the basis of competent evidence. A written opinion of a licensed physician certified in his field of
specialization and acceptable to the Bank, or Executive’s entitlement to or receipt of long-term disability benefits under any insurance policy or employee benefit plan provided or made available to Executive by the Bank or under federal Social
Security law, shall be conclusive evidence of disability. 
 (b) Death: In the event of Executive’s death during the
Term, Executive’s estate, legal representatives or named beneficiaries (as directed by Executive in writing) shall be paid Base Salary at the rate in effect at the time of Executive’s death for a period of one (1) month after the date
of Executive’s death and shall be paid for any accrued and unused paid time off. Such additional compensation and accrued and unused paid time off shall be paid in a single lump sum within thirty (30) days from Executive’s date of
death. 
 (c) Resignation By Executive: Upon thirty (30) days prior notice, Executive may resign or voluntarily
leaves the employ of the Bank, other than under circumstances treated as Resignation for Good Reason. In the event of Executive’s resignation under this Section 7(c), Executive shall be paid any accrued and unpaid salary and accrued and
unused paid time off through Executive’s date of resignation. 

  
 4 

 (d) Termination For Cause: The Bank may, in its sole discretion, by written notice to
Executive, terminate Executive’s employment immediately for Cause upon the occurrence of any of the following: 
 (1)
Executive’s willful failure to follow or to cooperate in carrying out any of the lawful policies of the Company or the Bank or the lawful directions of the Board; 
 (2) Continued and willful neglect by Executive of Executive’s duties for or on behalf of the Bank or any Subsidiary of the Bank for which Executive provides services; 

(3) Willful misconduct of Executive in connection with the performance of any of Executive’s duties, including, by way of example,
but not limitation, misappropriation of funds or property of Company, the Bank or a Subsidiary other than the Bank or a depositor therein or borrower therefrom, or securing or attempting to secure personally any profit in connection with any
transaction entered into on behalf of Company, the Bank or Subsidiary other than the Bank to the prejudice of the Bank or its Subsidiaries; 
 (4) Conduct by Executive which results in Executive’s suspension and/or temporary prohibition or removal and/or permanent prohibition from participation in the conduct of the affairs of Company, the
Bank or any Subsidiary other than the Bank pursuant to the rules and regulations of the primary federal or state banking agency for Company, the Bank or the other Subsidiary or any other federal or state banking agency having regulatory jurisdiction
over Company, the Bank or the other Subsidiary; 
 (5) Conviction of Executive of a felony or any misdemeanor involving moral
turpitude or Executive’s willful violation of any law, rule or regulation to which Company, the Bank or other Subsidiary for which Executive performs services is subject or of a final order or other formal administrative action entered into, by
or imposed upon Company, the Bank or any such Subsidiary; 
 (6) Willful violation of any code of conduct or standards of ethics
applicable to employees of the Bank that results in material and demonstrable damage to the business or reputation of Company or the Bank; or 
 (7) The issuance of a permanent injunction or similar remedy against Executive preventing Executive from executing or performing all or part of this Agreement. 

If Executive’s employment is Terminated for Cause or the Bank has Cause for termination and Executive voluntarily resigns, Executive
shall not be entitled to any further compensation or benefits under this Agreement other than payment for any accrued and unused paid time off. 
 Notwithstanding anything herein to the contrary, except as “willful” may be otherwise defined by the rules and regulations of the primary federal or state banking agency for the Bank for which
Executive performs services or any other federal or state banking agency having regulatory jurisdiction over the Bank for which Executive performs services, (x) no act or failure to act on Executive’s part shall be considered
“willful” unless done, or omitted to be done, by Executive in bad faith and without reasonable belief that Executive’s action or omission was in the best interest of the Bank for which Executive performs services, and (y) no
failure to act on Executive’s part shall be considered “willful” if such failure is a result of a condition of disability within the meaning of Section 7(a) of this Agreement.

  
 5 

 
Executive shall not be deemed to have been Terminated for Cause under this Agreement unless and until there is delivered to Executive a copy of a resolution adopted at a meeting of the Board
called and held for the purpose, which resolution shall (x) contain findings that Executive has committed an act constituting Cause, and (y) specify the particulars thereof. The resolution of the Board shall be deemed to have been duly
adopted if and only if it is adopted by the affirmative vote of a majority of the directors then in office, excluding Executive. Notice of the meeting and the proposed termination for Cause shall be given to Executive a reasonable time before the
meeting of the Board. Executive and Executive’s counsel (if the Executive chooses to have counsel present) shall have a reasonable opportunity to be heard by the Board at the meeting. 

(e) Termination Without Cause: The Bank may, in its sole discretion, by written notice to Executive terminate Executive’s
employment under this Agreement immediately without Cause at any time (other than following a Change of Control, in which case a termination without Cause is governed by Section 8 of this Agreement). In the event of such termination, Executive
shall continue to be paid the Base Salary that Executive is entitled to receive as of the date Executive is Terminated without Cause through the expiration of the then current Term. Nothing in this Section shall affect Executive’s rights to
receive any benefit which has been earned but not paid with respect to Executive’s performance prior to the date of such termination. In addition, the Bank shall continue Executive’s health and life insurance coverage at the Bank’s
expense through the expiration of the then current Term. The payments described in this Section 7(e) will be due Executive regardless of any subsequent employment attained by Executive. 

(f) Resignation For Good Reason: 
 (1) Executive may Resign for Good Reason upon the occurrence of any of the following conditions without Executive’s prior written consent: 

(A) a material change in Executive’s positions, authority and responsibilities relative to Executive’s positions, authority
and responsibilities at the Effective Date; 
 (B) a liquidation or dissolution of Company or the Bank, other than liquidations
or dissolutions that are caused by reorganizations that do not affect the status of Executive; 
 (C) a reduction in
Executive’s Base Salary; 
 (D) a relocation of Executive’s principal place of employment by more than thirty-five
(35) miles from its location as of the Effective Date; or 
 (E) a material breach of this Agreement by Company or the
Bank. 
 (2) Resignation for Good Reason shall be effected by delivering to the Bank, within twelve (12) months after the
occurrence of one of the conditions described above, a written notice specifying a date for termination of employment (a) which is not less than thirty (30) days after the date 

  
 6 

 
of the notice, and (b) which is not more than ninety (90) days after the date of the notice. The notice shall also state that Executive is resigning for Good Reason as contemplated by
this Section 7(f) and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for Resignation for Good Reason hereunder. If within the notice period, Company cures or corrects any circumstances providing a
basis for Resignation for Good Reason pursuant to Sections 7(f)(1)(A) or (E) only, Executive shall not be entitled to Resign for Good Reason. 
 (3) If Executive Resigns for Good Reason at any time after the date of this Agreement (other than a Resignation for Good Reason during the Term after a Change of Control, which shall be governed by
Section 8 below), then Executive shall continue to be paid the Base Salary that Executive is entitled to receive as of the date Executive is Resigns for Good Reason through the expiration of the then current Term. Nothing in this Section shall
affect Executive’s rights to receive any benefit which has been earned but not paid with respect to Executive’s performance prior to the date of such termination. In addition, the Bank shall continue Executive’s health and life
insurance coverage at the Bank’s expense through the expiration of the then current Term. The payments described in this Section 7(f) will be due Executive regardless of any subsequent employment attained by Executive which is not in
violation of this Agreement. 
 8. CHANGE OF CONTROL: Notwithstanding the preceding provisions of this Agreement, upon the
occurrence of a Change of Control, the following provisions shall apply: 
 (a) The Term shall be extended to a period of one
(1) year after the date on which the Change of Control occurs if the remaining Term as of the Change of Control effective date is less than one (1) year. 
 (b) If, during the Term, as extended pursuant to Section 8(a), either Executive’s employment is Terminated without Cause or Executive Resigns for Good Reason, in either case, Company shall
provide to Executive the following severance benefits: 
 (1) The Bank shall pay to Executive, in lieu of the compensation
specified in Sections 7(e) or 7(f), a severance payment (subject to any applicable payroll or other taxes required to be withheld) equal to three (3) times the sum of (i) Executive’s Base Salary at the rate then in effect, or if
greater, in effect immediately preceding the Change of Control and (ii) the average of the cash bonuses paid or accrued on Executive’s behalf with respect to the three (3) completed calendar years preceding the effective date of the
Change of Control (or, if Executive has not been employed for three (3) years, the average of the completed calendar years in which Executive was employed). In addition, the Bank shall continue Executive’s health and life insurance
coverage at the Bank’s expense for a thirty-six (36) month period following Executive’s Termination without Cause or Resignation for Good Reason. 
 (2) The payments described in this Section 8 shall be due Executive regardless of any subsequent employment obtained by Executive. 

(c) In the event that the aggregate payments or benefits to be made or afforded to Executive in the event of a Change of Control (whether
under this Agreement or otherwise) would be deemed to include an “excess parachute payment” under Code Section 280G or any successor thereto, then such payments or benefits shall be reduced to the extent necessary to avoid treatment
as an “excess parachute payment”, with the reduction among such payments and benefits to be made first to payments and benefits payable or provided under this Agreement. 

  
 7 

 9. NONCOMPETITION, NONSOLICITATION AND NONDISCLOSURE: 

(a) Executive hereby covenants and agrees that, for a period of one (1) year following a termination of employment in the
circumstances described in Sections 7(e) or (f), Executive shall not, without the written consent of the Bank, either directly or indirectly: 
 (i) become an officer, employee, consultant, director, independent contractor, agent, joint venturer, partner or trustee of any business whatsoever that competes with the business of Company, the Bank or
any Subsidiary other than the Bank. 
 (ii) solicit, offer employment to, or take any other action intended (or that a
reasonable person acting in like circumstances would expect) to have the effect of causing any officer or employee of Company, the Bank or any Subsidiary other than the Bank to terminate his employment and accept employment or become affiliated
with, or provide services for compensation in any capacity whatsoever to, any business whatsoever that competes with the business of Company, the Bank or any Subsidiary other than the Bank; or 

(iii) solicit, provide any information, advice or recommendation or take any other action intended (or that a reasonable person acting in
like circumstances would expect) to have the effect of causing any Protected Customer to terminate an existing business or commercial relationship with Company, the Bank or any Subsidiary other than the Bank. 

(iv) For purposes of this Section 9(a), a business that “competes with the business of Company, the Bank or any Subsidiary
other than the Bank” shall mean a depository financial institution doing business within twenty-five (25) miles of any office of the Bank in existence on the date of Executive’s termination of employment. 

(b) During the Term and thereafter, Executive shall hold in a fiduciary capacity for the benefit of Company and its Subsidiaries all
secret or confidential information, knowledge or data relating to Company and its Subsidiaries and their respective businesses, which shall have been obtained by Executive during Executive’s employment by Company, the Bank and any Subsidiary
other than the Bank and which shall not be or become public knowledge (other than by acts by Executive or representatives of Executive in violation of this Agreement). Executive shall not, without the prior written consent of as applicable, Company,
the Bank and such other Subsidiary or as may otherwise be required by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than Company, the Bank and such other Subsidiary and those designated by them.
After the end of the Restricted Period, the existence and identity of the customers and employees of Company, the Bank, and any Subsidiaries other than the Bank shall not constitute secret or confidential information, knowledge or data. 

(c) During any period in which Section 9(a) is effective, Section 9(a) shall not preclude Executive from holding any publicly
traded stock provided Executive does not acquire any stock interest in any one company in excess of one percent (1%) of the outstanding voting stock of that company. 
 (d) The parties agree that the restrictions contained in this Section 9 are reasonable and fair. If Executive competes in violation of the terms of this Section 9, the parties agree that Company
and its affiliates will be irreparably harmed without an adequate remedy at law. Accordingly, Executive acknowledges that if Executive breaches or threatens to breach any provision of this Section 9, Company and its affiliates shall be entitled
to an injunction, both preliminary and permanent, restraining Executive from such breach or threatened breach, but such injunctive relief shall not preclude Company and its affiliates from pursuing all other legal or equitable remedies arising out
of such a breach. 

  
 8 

 10. REFORMATION: The parties have attempted to limit Executive’s right to compete only to
the extent necessary to protect Company, the Bank and Subsidiaries other than the Bank from unfair competition. The parties recognize, however, that reasonable people may differ in making such a determination. Consequently, the parties hereby agree
that, if the scope or enforceability of a restrictive covenant set forth in Section 9 is in any way disputed at any time, a court or other trier of fact may modify and reform such provision to substitute such other terms as are reasonable to
protect the legitimate business interests of the Company, the Bank and Subsidiaries other than the Bank. 
 11. NOTICES: For the
purposes of this Agreement, notices or other communications provided for in this Agreement shall be in writing and shall be deemed to have been duly given when hand delivered to the party to whom directed or mailed by United States certified mail,
return receipt requested, postage prepaid, addressed to such party at such party’s address last known by the party giving such notice. Each party may, from time to time, and shall, upon request of another party, designate an address to which
notices should be sent. Notices of change of address shall be effective only upon receipt. 
 12. MODIFICATION; WAIVERS; APPLICABLE
LAW: No provisions of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing, signed by Executive, and on behalf of the Bank, by such officers as may be specifically
designated by the Bank. No waiver of any breach, condition or provision of this Agreement by any party hereto at any time shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No
agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by any party that are not set forth expressly in this Agreement. The validity, interpretation, construction and
performance of this Agreement shall be governed by the laws of North Carolina, except to the extent that federal applies. 
 13.
INVALIDITY - ENFORCEABILITY: The invalidity or enforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. Any
provision in this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective only to the extent of such prohibition or unenforceability without invalidating or affecting the remaining provisions
hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 14. SUCCESSOR RIGHTS: This Agreement shall inure to the benefit of and be enforceable by Executive’s personal or legal representatives, executors, administrators, successors, heirs,
distributees, devisees and legatees, and shall be binding upon the Bank and any successor to the Bank. If Executive should die while any amounts would still be payable to Executive hereunder all such amounts, unless otherwise provided herein, shall
be paid in accordance with the terms of this Agreement to Executive’s devisee, legatee or other designee or, if there is no such designee, to Executive’s estate. 
 15. ATTORNEY’S FEES: In the event that either party incurs costs and fees, including attorney’s fees, in enforcing its rights under this Agreement, the party substantially
prevailing in such suit or action including any appeal shall be entitled to recover from the other all such costs and reasonable attorney’s fees. 
 16. EFFECT OF FEDERAL BANKING STATUTES AND REGULATIONS: Notwithstanding anything herein contained to the contrary, any payments to Executive by the Bank whether pursuant to this Agreement or
otherwise, are subject to and conditioned upon their compliance with Section 18(k) of the Federal Deposit Insurance Act, 12 U.S.C. Section 1828(k), and the regulations promulgated thereunder in 12 C.F.R. Part 359. In addition, Executive
agrees that this Agreement is subject to amendment at any time in order to comply with laws that are applicable to Company and the Bank (including regulations and rules relating to any governmental program in which Company or the Bank may
participate). 

  
 9 

 17. HEADINGS: Descriptive headings contained in this Agreement are for convenience only and
shall not control or affect the meaning or construction of any provision hereof. 
 18. EFFECT ON PRIOR AGREEMENTS: This Agreement
supersedes all prior agreements, either expressed or implied, between the parties hereto with respect to the employment of Executive. 
 19.
INTERNAL REVENUE CODE SECTION 409A/CONTINUATION OF BENEFITS/ REIMBURSEMENTS:  
 This Agreement is intended to and
shall comply with Section 409A of the Code. All references to a termination of employment and separation from service shall mean and be administered to comply with the definition of “separation from service” in Section 409A of
the Code. All reimbursements provided under this Agreement shall comply with Section 409A of the Code and shall be subject to the following requirements: 
 (a) The amount of expenses eligible for reimbursement, during Executive’s taxable year may not affect the expenses eligible for reimbursement to be provided in another taxable year, and 

(b) The reimbursement of an eligible expense must be made by December 31 following the taxable year in which the expense was
incurred. The right to reimbursement is not subject to liquidation or exchange for another benefit. 
 If Executive is a “specified
employee” (as defined under Section 409A of the Code) at the time of separation from service, to the extent that any amount payable under this Agreement constitutes “deferred compensation” under Section 409A of the Code (and
is not otherwise excepted from Section 409A of the Code coverage by virtue of being considered “separation pay” or a “short term deferral” or otherwise) and is payable to Executive based upon a separation from service (other
than death or “disability” as defined under Section 409A of the Code), such amount shall not be paid until the first day following the six (6) month anniversary of Executive’s separation from service. Any right to a series
of installment payments shall be treated as a right to a series of separate payments for purposes of Section 409A of the Code. Payment of any accrued and unused paid time off, unless expressly provided otherwise herein shall be made in a single
lump sum within thirty (30) days of separation from service. 
 20. ARBITRATION OF DISPUTES: Any dispute or controversy
arising under or in connection with this Agreement shall be settled exclusively by binding arbitration, as an alternative to civil litigation and without any trial by jury to resolve such claims, conducted by a single arbitrator who is certified by
the American Arbitration Association and is mutually acceptable to Executive and the Bank, sitting in a location selected by the Bank within fifty (50) miles from the main office of the Bank, in accordance with the rules of the American
Arbitration Association’s National Rules for the Resolution of Employment Disputes then in effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. 

21. COUNTERPARTS: This Agreement may be executed in counterparts. 
 22. ALTERNATIVE LUMP-SUM PAYMENT: For purposes of Sections 8 and 9, if (x) under the terms of the applicable policy or policies for the insurance benefits it is not possible to
continue Executive’s coverage or (y) if when employment termination occurs, Executive is a specified employee within the meaning of Section 409A of the Code, if any of the continued insurance coverage benefits

  
 10 

 
would be considered deferred compensation under Section 409A of the Code, and finally if an exemption from the six-month delay requirement of Section 409A(a)(2)(B)(i) of the Code is not
available for that particular insurance benefit, instead of continued insurance coverage the Bank shall pay or cause to be paid to Executive in a single lump sum an amount in cash equal to the present value of the Bank’s projected cost to
maintain that particular insurance benefit had Executive’s employment not terminated, assuming continued coverage for twenty-four (24) months. The lump-sum payment shall be made within five (5) business days after employment
termination or, if Executive is a specified employee within the meaning of Section 409A of the Code and an exemption from the six-month delay requirement of Section 409A(a)(2)(B)(i) of the Code is not available, on the first business day
of the seventh month after the month in which Executive’s employment terminates. 
 23. REGULATORY REQUIREMENTS: 

(a) If the Executive is removed and/or permanently prohibited from participating in the conduct of the Employer’s affairs by an
order issued under Section 8(e)(4) or 8(g)(1) of the Federal Deposit Insurance Act (“FDIA”) (12 U.S.C. 1818(e)(4) and (g)(1)), all obligations of the Employer under this Agreement shall terminate, as of the effective date of such
order, except for the payment of Annual Base Salary due and owing under Section 4(a) on the effective date of said order, and reimbursement under Section 5(a) of expenses incurred as of the effective date of termination. 

(b) If the Executive is suspended and/or temporarily prohibited from participating in the conduct of the Employer’s affairs by a
notice served under Section 8(e)(3) or 8(g)(1) of the FDIA (12 U.S.C. 1818(e)(3) and (g)(1)), all obligations of the Employer under this Agreement shall be suspended as of the date of service unless stayed by appropriate proceedings. If the
charges in the notice are dismissed, the Employer shall reinstate (in whole or in part) any of its obligations which were suspended. 
 (c) If the Employer is in default (as defined in Section 3(x)(1) of the FDIA), all obligations under this Agreement shall terminate as of the date of default, but the vested rights of the parties
shall not be affected. 
 (d) All obligations under this Agreement shall be terminated, except to the extent a determination is
made that continuation of the contract is necessary for the continued operation of the Employer (1) by the director of the Federal Deposit Insurance Corporation (the “FDIC”) or his or her designee (the “Director”), at the
time the FDIC enters into an agreement to provide assistance to or on behalf of the Employer under the authority contained in Section 13(c) of the FDIA; or (2) by the Director, at the time the Director approves a supervisory merger to
resolve problems related to operation of the Employer when the Employer is determined by the Director to be in an unsafe and unsound condition. Any rights of the Executive that have already vested, however, shall not be affected by such action.

 (e) All obligations under this Agreement are further subject to such conditions, restrictions, limitations and forfeiture
provisions as may separately apply pursuant to any applicable state banking laws. 
 (f) Notwithstanding anything contained in
this Agreement to the contrary, no payments shall be made pursuant any provision herein in contravention of the requirements of the Federal Deposit Insurance Act (12 U.S.C. 1828(k)). 

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

							
		 		 		 	ASHEVILLE SAVINGS BANK, S.S.B.
				
	 Date: December 20, 2012
	 		 	By:	 	 /s/ Suzanne S. DeFerie

		 		 		 	Suzanne DeFerie
		 		 		 	President and Chief Executive Officer
				
	 Date: December 20, 2012
	 		 		 	 /s/ Vikki D. Bailey

		 		 		 	Vikki D. Bailey

  
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