Document:

Exhibit 10.1

 

NINTH AMENDMENT TO CREDIT AGREEMENT AND FOURTH AMENDMENT TO LIMITED WAIVER AGREEMENT

 

THIS NINTH AMENDMENT TO CREDIT AGREEMENT AND FOURTH AMENDMENT TO LIMITED WAIVER AGREEMENT (this “Amendment”), dated as of October 4, 2016, is among GLOBAL POWER EQUIPMENT GROUP INC., a Delaware corporation (the “Borrower”), WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent for the Lenders (the “Administrative Agent”), the LENDERS (as defined in the Credit Agreement defined below) signing this Amendment, and WELLS FARGO BANK, NATIONAL ASSOCIATION, in its capacity as Swingline Lender and in its capacity as Issuing Lender.

 

RECITALS

 

A.            The Borrower, the Administrative Agent, the Lenders, the Swingline Lender and the Issuing Lender are parties to that certain Credit Agreement, dated as of February 21, 2012, as amended by that certain First Amendment to Credit Agreement and First Amendment to Security Agreement, dated as of April 25, 2012, that certain Second Amendment to Credit Agreement, dated as of July 19, 2012, that certain Third Amendment and Limited Waiver to Credit Agreement and Second Amendment to Security Agreement, dated as of March 4, 2013, but effective as of December 7, 2012, that certain Lender Joinder Agreement, effective as of December 17, 2013, that certain Fourth Amendment and Limited Waiver to Credit Agreement, dated as of December 22, 2014, that certain Fifth Amendment and Limited Waiver to Credit Agreement, dated as of May 28, 2015, that certain Limited Waiver and Sixth Amendment to Credit Agreement, dated as of June 30, 2015, that certain Limited Waiver and Seventh Amendment to Credit Agreement and Amendment to Other Loan Documents, dated as of August 31, 2015 (the “Original Limited Waiver Agreement”), that certain First Amendment to Limited Waiver and Seventh Amendment to Credit Agreement and Amendment to Other Loan Documents, dated as of December 11, 2015 (the “First Limited Waiver Amendment”), that certain Second Amendment to Limited Waiver and Seventh Amendment to Credit Agreement and Amendment to Other Loan Documents, dated as of March 25, 2016 (the “Second Limited Waiver Amendment”), that certain Third Amendment to Limited Waiver and Seventh Amendment to Credit Agreement and Amendment to Other Loan Documents, dated as of July 22, 2016 (the “Third Limited Waiver Amendment”), and that certain Eighth Amendment to Credit Agreement dated as of August 5, 2016 (the “Eighth Amendment”) (such Credit Agreement, as so amended, the “Credit Agreement”; and the Original Limited Waiver Agreement, as amended by the First Limited Waiver Amendment, the Second Limited Waiver Amendment, the Third Limited Waiver Amendment and the Eighth Amendment, the “Limited Waiver Agreement”).

 

B.            The Borrower has requested that the Administrative Agent, the Required Lenders, the Swingline Lender and the Issuing Lender agree to amend certain of the provisions of the Credit Agreement and Limited Waiver Agreement pursuant to the terms and conditions of this Amendment, following the occurrence of an additional Waiver Termination Event (as more specifically identified in that certain notice letter from the Administrative Agent to the Borrower dated September 22, 2016).

 

C.            The Administrative Agent, the Required Lenders, the Swingline Lender and the Issuing Lender are willing to agree to such request of the Borrower subject to the terms and conditions of this Amendment.

 

NOW, THEREFORE, in consideration of the covenants, conditions and agreements hereafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are all hereby acknowledged, the Borrower, the Administrative Agent, the Required Lenders, the Swingline Lender and the Issuing Lender hereby agree as follows:

 

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1.             DEFINITIONS.  All capitalized terms used in this Amendment (including in the Recitals to this Amendment) which are not expressly defined in this Amendment shall have the meanings given to them in the Credit Agreement.

 

2.             AMENDMENT TO SECTION 7.1(g) OF THE CREDIT AGREEMENT.  Section 7.1(g) of the Credit Agreement is hereby amended by replacing the date “September 30, 2016” contained therein with the date “November 30, 2016”.

 

3.             AMENDMENT TO SECTION 1 OF THE LIMITED WAIVER AGREEMENT. The definition of Known Existing Waiver Termination Events contained in Section 1 of the Limited Waiver Agreement is hereby amended and restated in its entirety to read as follows:

 

“Known Existing Waiver Termination Events” means, collectively, (a) the existing Waiver Termination Events identified in (i) Recitals E, F, G and H of the First Amendment to Limited Waiver and Seventh Amendment to Credit Agreement, (ii) Recital F of the Second Amendment to Limited Waiver and Seventh Amendment to Credit Agreement, and (iii) Recital G of the Third Amendment to Limited Waiver and Seventh Amendment to Credit Agreement, and (b) the existing Waiver Termination Event arising as a result of the Borrower’s failure to maintain Liquidity of not less than the minimum amount required under Section 4(i)(B) this Agreement as of August 28, 2016.

 

4.             ACKNOWLEDGMENTS OF THE BORROWER.  The Borrower hereby acknowledges and agrees as follows:

 

(a)           Recitals.  The Recitals to this Amendment are true and correct.

 

(b)           Loan Documents.  The Credit Agreement, as amended by this Amendment, and each of the other Loan Documents are the legal, valid and binding agreements of each Credit Party which is a party thereto, enforceable against such Credit Party in accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar state or federal debtor relief laws from time to time in effect which affect the enforcement of creditor’s rights in general and the availability of equitable remedies, regardless of whether considered in a proceeding in equity or at law.

 

(c)           Obligations.  As of the date hereof, the Obligations of the Credit Parties under the Loan Documents are not subject to any restriction, setoff, deduction, claim, counterclaim or defense of any kind or character whatsoever.

 

(d)           Outstanding Principal in respect of the Revolving Credit Loans and the L/C Obligations.  The outstanding principal balance of the Revolving Credit Loans and the L/C Obligations as of September 27, 2016 are as set forth on Schedule A attached to this Amendment and made a part of this Amendment.

 

5.             REPRESENTATIONS AND WARRANTIES TRUE; NO EVENT OF DEFAULT.  By its execution and delivery of this Amendment, the Borrower represents and warrants that, as of the date hereof:

 

(a)           other than the representations and warranties with respect to the previously delivered financial statements for Fiscal Year 2012, Fiscal Year 2013, Fiscal Year 2014 and Fiscal Year 2015, the representations and warranties contained in the Credit Agreement and the other Loan Documents are true and correct in all material respects, on and as of the date hereof as made on and as of 

 

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such date, except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, in which case such representation and warranty shall be true and correct in all respects on and as of the date hereof as if made on and as of such date, (except for any such representation and warranty that by its terms is made only as of an earlier date, which representation and warranty shall remain true and correct in all material respects as of such earlier date, except for any representation and warranty that is qualified by materiality or reference to Material Adverse Effect, in which case such representation and warranty shall be true and correct in all respects as of such earlier date);

 

(b)           no event has occurred and is continuing which constitutes a Default or an Event of Default except for the Known Existing Events of Default (as defined in the Limited Waiver Agreement) and the Anticipated Events of Default (as defined in the Limited Waiver Agreement) and no event has occurred and is continuing which constitutes a Waiver Termination Event (as defined in the Limited Waiver Agreement) except for the Known Existing Waiver Termination Events (as defined in the Limited Waiver Agreement, as amended hereby);

 

(c)           (i) the Borrower and each other Credit Party has full power and authority to execute and deliver this Amendment, (ii) this Amendment has been duly executed and delivered by the Borrower and each other Credit Party, and (iii) each of the Credit Agreement, as amended by this Amendment, the Limited Waiver Agreement, as amended by this Amendment, and each other Loan Document constitutes the legal, valid and binding obligations of the Borrower and the other Credit Parties party thereto, enforceable against the Borrower or such Credit Party, as applicable, in accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar state or federal debtor relief laws from time to time in effect which affect the enforcement of creditors’ rights in general and the availability of equitable remedies, regardless of whether considered in a proceeding in equity or at law;

 

(d)           neither the execution, delivery and performance of this Amendment, nor the consummation of any transactions contemplated herein, will conflict with, result in a breach of or constitute a default under any indenture, agreement or other instrument to which the Borrower or any other Credit Party is a party or by which any of its properties may be bound or any Governmental Approval relating to the Borrower or to any Credit Party, except to the extent such conflict, breach or default, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect; and

 

(e)           no authorization, approval, consent, or other action by, notice to, or filing with, any governmental authority or other Person not already obtained (including the Board of Directors (or other similar governing body) of the Borrower and of each other Credit Party) is required for the execution, delivery or performance of this Amendment by the Borrower and the other Credit Parties.

 

6.             CONDITIONS TO EFFECTIVENESS OF THIS AMENDMENT.  This Amendment shall be effective upon satisfaction of each of the following conditions precedent to the satisfaction of the Administrative Agent:

 

(a)           the Administrative Agent shall have received counterparts of this Amendment, duly executed by the Administrative Agent, the Required Lenders, the Swingline Lender and the Issuing Lender;

 

(b)           the Administrative Agent shall have received counterparts of this Amendment, duly executed by the Borrower and duly acknowledged and agreed to by each Subsidiary Guarantor;

 

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(c)           the Administrative Agent shall have received from the Borrower the payment of all costs and fees of the Administrative Agent which are unpaid and invoiced prior to the date of this Amendment, including those costs and fees related to travel costs and expenses, appraisals of real estate, appraisals of machinery and equipment, environmental reports, title insurance, legal fees and expenses and other out-of-pocket expenses; and

 

(d)           the Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent and its counsel, such other documents, certificates and instruments as the Administrative Agent shall reasonably require.

 

7.             REFERENCES.

 

(a)           Each reference in the Credit Agreement to “this Agreement” or words of like import and each reference in any other Loan Document to the “Credit Agreement” or words of like import shall mean and be a reference to the Credit Agreement, as amended by this Amendment. Each reference in the Limited Waiver Agreement to “this Agreement” or words of like import and each reference in any other Loan Document to the “Limited Waiver Agreement” or words of like import shall mean and be a reference to the Limited Waiver Agreement, as amended by this Amendment.

 

(b)           The Credit Agreement, as amended by this Amendment, the Limited Waiver Agreement, as amended by this Amendment, and the other Loan Documents remain in full force and effect and are hereby ratified and confirmed.

 

8.             RELEASE.  As a material part of the consideration for the Administrative Agent, the Required Lenders, the Swingline Lender and the Issuing Lender entering into this Amendment, the Borrower and each Subsidiary Guarantor (collectively, the “Releasors”) agree as follows (the “Release Provision”):

 

(a)           The Releasors, jointly and severally, hereby release and forever discharge the Administrative Agent, the Swingline Lender, the Issuing Lender, each Lender and the Administrative Agent’s, the Swingline Lender’s, Issuing Lender’s and each Lender’s predecessors, successors, assigns, officers, managers, directors, shareholders, employees, agents, attorneys and other professionals, representatives, parent corporations, subsidiaries, and affiliates (hereinafter all of the above collectively referred to as the “Lender Group”), from any and all claims, counterclaims, demands, damages, debts, agreements, covenants, suits, contracts, obligations, liabilities, accounts, offsets, rights, actions, and causes of action of any nature whatsoever and whether arising at law or in equity, presently possessed, whether known or unknown, whether liability be direct or indirect, liquidated or unliquidated, presently accrued, whether absolute or contingent, foreseen or unforeseen, and whether or not heretofore asserted arising out of, arising under or related to the Loan Documents (collectively, the “Claims”), that Releasors may have or allege to have against any or all of the Lender Group and that arise from events occurring before the date hereof.

 

(b)           The Releasors agree not to sue any of the Lender Group nor in any way assist any other person or entity in suing the Lender Group with respect to any of the Claims released herein.  The Release Provision may be pleaded as a full and complete defense to, and may be used as the basis for an injunction against, any action, suit, or other proceeding which may be instituted, prosecuted, or attempted in breach of the release contained herein.

 

(c)           The Releasors acknowledge, warrant, and represent to Lender Group that:

 

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(i)            The Releasors have read and understand the effect of the Release Provision.  The Releasors have had the assistance of independent counsel of their own choice, or have had the opportunity to retain such independent counsel, in reviewing, discussing, and considering all the terms of the Release Provision; and if counsel was retained, counsel for Releasors has read and considered the Release Provision and advised Releasors with respect to the same.  Before execution of this Amendment, the Releasors have had adequate opportunity to make whatever investigation or inquiry they may deem necessary or desirable in connection with the subject matter of the Release Provision.

 

(ii)           The Releasors are not acting in reliance on any representation, understanding, or agreement not expressly set forth herein.  The Releasors acknowledge that Lender Group has not made any representation with respect to the Release Provision except as expressly set forth herein.

 

(iii)         The Releasors have executed this Amendment and the Release Provision thereof as a free and voluntary act, without any duress, coercion, or undue influence exerted by or on behalf of any person or entity.

 

(iv)          The Releasors are the sole owners of the Claims released by the Release Provision, and the Releasors have not heretofore conveyed or assigned any interest in any such Claims to any other person or entity.

 

(d)           The Releasors understand that the Release Provision was a material consideration in the agreement of the Administrative Agent, Swingline Lender, Issuing Lender and each Lender to enter into this Amendment.

 

(e)           It is the express intent of the Releasors that the release and discharge set forth in the Release Provision be construed as broadly as possible in favor of Lender Group so as to foreclose forever the assertion by the Releasors of any Claims released hereby against Lender Group.

 

(f)            If any term, provision, covenant, or condition of the Release Provision is held by a court of competent jurisdiction to be invalid, illegal, or unenforceable, the remainder of the provisions shall remain in full force and effect.

 

(g)           The Releasors acknowledge that they may hereafter discover facts in addition to or different from those that they now know or believe with respect to the Claims released herein, but the Releasors expressly shall have and intend to fully, finally and forever have released and discharged any and all such Claims.  The Releasors expressly waive any provision of statutory or decisional law to the effect that a general release does not extend to Claims that the releasing party does not know or suspect to exist in such party’s favor at the time of executing the release.

 

9.             COSTS, EXPENSES AND TAXES.  The Borrower agrees to pay on demand all costs and expenses of the Administrative Agent in connection with the preparation, reproduction, execution and delivery of this Amendment and the other instruments and documents to be delivered hereunder (including the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent with respect thereto).

 

10.          SUBSIDIARY GUARANTORS’ ACKNOWLEDGMENT AND AGREEMENT.  By signing below, each Subsidiary Guarantor (a) acknowledges, consents and agrees to this Amendment,

 

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(b) acknowledges and agrees to any amendment to its obligations in respect of the Subsidiary Guaranty Agreement made pursuant to this Amendment, (c) acknowledges and agrees that its obligations in respect of the Subsidiary Guaranty Agreement and the Security Agreement are not released, diminished, waived, modified, impaired or affected in any manner by this Amendment or any of the provisions contemplated herein, (d) ratifies and confirms its obligations under the Subsidiary Guaranty Agreement and the Security Agreement, and (e) acknowledges and agrees that it has no claims or offsets against, or defenses or counterclaims to, the Subsidiary Guaranty Agreement, the Security Agreement or any other Loan Documents or Obligations.

 

11.          EXECUTION IN COUNTERPARTS.  This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument.  For purposes of this Amendment, a counterpart hereof (or signature page thereto) signed and transmitted by any Person party hereto to the Administrative Agent (or its counsel) by facsimile machine, telecopier or electronic mail is to be treated as an original.  The signature of such Person thereon, for purposes hereof, is to be considered as an original signature, and the counterpart (or signature page thereto) so transmitted is to be considered to have the same binding effect as an original signature on an original document.

 

12.          GOVERNING LAW.  This Amendment and the other Loan Documents and any claim, controversy, dispute or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Amendment or any other Loan Document (except, as to any other Loan Document, as expressly set forth therein) and the transactions contemplated hereby and thereby shall be governed by, and construed in accordance with, the law of the State of New York.

 

13.          WAIVER OF JURY TRIAL.  EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AMENDMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

14.          HEADINGS.  Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose.

 

15.          ENTIRE AGREEMENT.  THIS AMENDMENT IS A LOAN DOCUMENT.  THE CREDIT AGREEMENT, AS AMENDED BY THIS AMENDMENT, AND THE OTHER LOAN DOCUMENTS, AS AMENDED, REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS BETWEEN THE PARTIES.  THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.

 

REMAINDER OF PAGE LEFT INTENTIONALLY BLANK

 

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IN WITNESS WHEREOF, this Amendment is executed as of the date first set forth above.

 

	
 
    	
BORROWER:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
GLOBAL   POWER EQUIPMENT GROUP INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Craig Holmes
    
	
 
    	
Name:
    	
Craig   Holmes
    
	
 
    	
Title:
    	
SVP Finance
    

 

 

	
 
    	
ADMINISTRATIVE   AGENT AND LENDERS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION, 
   as Administrative Agent, Swingline Lender, the Issuing Lender and Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Kristine B. Netjes
    
	
 
    	
Name:   
    	
Kristine   B. Netjes
    
	
 
    	
Title:   
    	
Senior   Vice President
    

 

 

	
 
    	
BRANCH   BANKING AND TRUST COMPANY,
    
	
 
    	
as   Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Mitch Turknett
    
	
 
    	
Name:
    	
Mitch   Turknett
    
	
 
    	
Title:
    	
Senior Vice President
    

 

 

	
 
    	
JPMORGAN   CHASE BANK, N.A.,
    
	
 
    	
as   Lender
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Joseph T. Nash
    
	
 
    	
Name:
    	
Joseph   T. Nash
    
	
 
    	
Title:
    	
Underwriting Senior   Associate
    

 

 

	
 
    	
ACKNOWLEDGED   AND AGREED TO:
    
	
 
    	
 
    
	
 
    	
AS   SUBSIDIARY GUARANTORS:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WILLIAMS   INDUSTRIAL SERVICES GROUP, L.L.C.
    
	
 
    	
BRADEN   MANUFACTURING, L.L.C.
    
	
 
    	
WILLIAMS   INDUSTRIAL SERVICES, LLC
    
	
 
    	
WILLIAMS   SPECIALTY SERVICES, LLC
    
	
 
    	
WILLIAMS   PLANT SERVICES, LLC
    
	
 
    	
CONSTRUCTION & MAINTENANCE PROFESSIONALS,   LLC
    
	
 
    	
WILLIAMS   GLOBAL SERVICES, INC.
    
	
 
    	
KOONTZ-WAGNER   CUSTOM CONTROLS HOLDINGS LLC
    
	
 
    	
GPEG,   LLC
    
	
 
    	
HETSCO   HOLDINGS, INC.
    
	
 
    	
HETSCO, INC.
    
	
 
    	
GLOBAL   POWER TECHNICAL SERVICES, INC.
    
	
 
    	
BRADEN   HOLDINGS, LLC
    
	
 
    	
GLOBAL   POWER PROFESSIONAL SERVICES INC.
    
	
 
    	
BRADEN   CONSTRUCTION SERVICES, INC.
    
	
 
    	
STEAM   ENTERPRISES LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Erin Gonzalez
    
	
 
    	
Name:
    	
Erin   Gonzalez
    
	
 
    	
Title:
    	
VP and TreasurerEX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

This Employment Agreement (this “Agreement”) is entered into as of October 6, 2016 (the “Effective
Date”) by and between C&J Energy Services, Ltd., a Bermuda exempted company (the “Company”), and Timothy Wallace (“Executive”) and is effective as of the Effective Date (as defined below). 

RECITALS 
 WHEREAS, the
Company desires to retain the experience, abilities and service of Executive in a new position; and 
 WHEREAS, Executive wishes to continue
to be employed by the Company under the conditions of employment specified in this Agreement; and 
 WHEREAS, both the Company and Executive
have read and understood the terms of this Agreement, and have been afforded a reasonable opportunity to review this Agreement with their respective legal counsel. 

NOW, THEREFORE, in consideration of the mutual promises and covenants contained in this Agreement, the parties hereto agree as follows,
effective as of the Effective Date: 
 AGREEMENT 

ARTICLE I 
 DEFINITIONS

 1.1 Certain Definitions. For purposes of this Agreement, the following terms shall have the meanings specified or
referred to in this Section 1.1: 
 (a) “Accrued Obligation” shall mean the sum of
(i) Executive’s Base Salary earned through the Date of Termination and (ii) any accrued, unused vacation pay earned by Executive, in both cases, to the extent not theretofore paid. 

(b) “Applicable Anti-Corruption Laws” shall mean all anti-corruption and anti-bribery laws and
legislation that are or may become applicable to Executive or to the Company or its Subsidiaries, whether as a result of the location of citizenship, incorporation or registration, or business operations, including but not limited to the U.S.
Foreign Corrupt Practices Act of 1977, as amended, the UK Bribery Act 2010, and the principles set out in the Organization for Economic Cooperation and Development Convention Combating Bribery of Foreign Public Officials in International Business
Transactions. 
 (c) “Board” shall mean the Board of Directors of the Company. 

(d) “Business” shall mean (i) any business in which the Company or any of its Subsidiaries is
engaged during the Term and for which Executive has (or has had) responsibilities or about which Executive has Confidential Information and (ii) as of the 

 
end of the Term, any other business in which the Company or any of its Subsidiaries has undertaken material, substantive steps to engage within the twelve (12) month period prior to such
time and for which Executive has had material responsibility with regard to, or Confidential Information about, such steps. Without limiting the foregoing, “Business” shall be deemed to include, without limitation, the well completion and
servicing business (including but not limited to hydraulic fracturing, coiled tubing, pressure pumping, cased-hole wireline, pressure testing, pump-down, perforating, pipe recovery and other complementary services); petroleum engineering services
(including but not limited to services in connection with hydraulic fracture stimulation and reservoir engineering); the chemicals and fluids procurement and sales business; cementing; workover rigs and related offerings; storage and disposal;
logging, downhole and drilling tools; and data control systems. 
 (e) “Cause” shall mean
Executive’s (i) willful and continued failure to substantially perform, without proper legal justification the duties required hereunder or any other written agreement between Executive and the Company or any affiliate of the Company or as
otherwise reasonably required by the Board in the course of his duties; (ii) conviction, admission or plea of guilty or nolo contendere to a charge of felony, or conviction of or plea of guilty or nolo contendere to any dishonest conduct;
(iii) any material breach of any of the terms of, or failure to perform any of, his covenants contained herein or in any other written agreement between Executive and the Company or any affiliate of the Company; or (iv) material violation
or failure to abide by lawful and material instructions, policies or workplace rules established by the Company or any affiliate of the Company. 

(f) “Change of Control” shall mean any of the following: 

(i) any “person” or “group” shall become, directly or indirectly, the “beneficial owner” (each
quoted term as defined within the meaning of Sections 13(d) and 14(d)(2) of the Exchange Act or the regulations thereunder), by way of merger, consolidation, recapitalization, reorganization or otherwise, of 50% or more of the voting power of the
Board; or 
 (ii) the sale or other disposition of all or substantially all of its assets of the Company in one or more
transactions to any Person other than an Affiliate. 
 (g) “Code” shall mean the Internal Revenue
Code of 1986, as amended. 
 (h) “Date of Termination” shall mean the effective date of termination
of Executive’s employment hereunder, as specified in the applicable Notice of Termination. 
 (i) “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and applicable administrative guidance issued thereunder. 

(j) “Government Official” shall mean any agent, representative, official, officer, director, or
employee of any government or any department, agency, or instrumentality thereof (including but not limited to any officer, director, or employee of a state-owned, operated or controlled entity) or of a public international organization, or any
person acting in an official capacity for or on behalf of any such government, department, agency, instrumentality, or public international organization. 

  
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 (k) “Permanent Disability” shall mean a sickness or
disability that renders Executive incapable of performing his duties hereunder for a period in excess of six (6) months during any consecutive twelve (12) month period. 

(l) “Permitted Holder” shall mean (i) any trustee or other fiduciary holding securities of the
Company under an employee benefit plan of the Company or any of its affiliates, (ii) any subsidiary of the Company that is at least 80% owned by the Company and (iii) any corporation, partnership, limited liability company or other entity
owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of securities of the Company. 

(m) “Protected Period” shall mean the period beginning three (3) months prior to the effective
date of a Change of Control, and ending on the one (1) year anniversary of the effective date of such Change of Control. 

(n) “Release Expiration Date” shall mean the date that is twenty-one (21) days following the date
upon which the Company timely delivers to Executive the Release (which shall occur no later than seven (7) days after the Date of Termination), or in the event that such termination of employment is “in connection with an exit incentive or
other employment termination program” (as such phrase is defined in the Age Discrimination in Employment Act of 1967, as amended), the date that is forty-five (45) days following such delivery date. 

(o) “Restricted Area” shall mean those geographic areas where the Company or any Subsidiary of the
Company conducts the Business during the Term and for which Executive has or had material responsibilities. Without limiting the foregoing, the “Restricted Area” shall include those countries, states, parishes, counties and other areas
specified on Exhibit “A”, and any additional areas in which the Company or any Subsidiary of the Company has taken material, substantive steps, with Executive’s assistance, in preparation of conducting the Business. 

(p) “Section 409A” shall mean Section 409A of the Code and the final Department of Treasury
regulations and other interpretive guidance issued thereunder. 
 (q) “Subsidiary” shall mean any
business entity with respect to which the Company owns or controls, directly or indirectly, not less than a majority of the equity securities of such entity, or otherwise possesses, with by virtue of security ownership or contract, the power to
elect a majority of the board of directors or other governing body or officers thereof. 
 ARTICLE II 

DUTIES 
 2.1
Duties. During the Term (as defined below), Executive shall serve the Company as President of the Completion Services division, or in such other capacity as the Board or the 

  
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Chief Executive Officer of the Company shall determine. Executive shall comply with the policies of the Company as may be in effect from time to time for executive officers, including, without
limitation, the Company’s policies regarding confidentiality, ownership of intellectual property, drug testing, discrimination and harassment, and ethical conduct. Executive shall have such duties, authorities and responsibilities as the Board
or the Chief Executive Officer of the Company shall designate that are consistent with Executive’s position. 
 2.2 Extent of
Duties. Subject to the use of vacation, holiday and other approved leave time, Executive shall devote substantially all of his business time, energy and efforts to the affairs of the Company as the Company, acting through its Board, shall
reasonably deem necessary in the discharge of Executive’s duties hereunder. Executive shall not engage, directly or indirectly, in any other business or businesses, whether or not similar to that of the Company, except with the consent of the
Chairman of the Board or as otherwise permitted by this Section 2.2. Executive agrees to serve in the positions referred to in Section 2.1 and to perform diligently and to the best of his abilities the duties and services appertaining to
such offices, as well as such additional duties and services appropriate to such offices which the parties mutually may agree upon from time to time. Notwithstanding the foregoing, nothing herein shall prevent Executive from participating in social,
civic, charitable, religious, business, educational or professional associations, or the passive management of Executive’s personal investments, so long as such activities do not materially detract from Executive’s ability to perform his
duties under this Agreement or otherwise violate the provisions of this Agreement. Without limiting the foregoing, in the event that Executive desires to participate personally in any business opportunity that is reasonably related to the
Company’s or any of its Subsidiaries’ business, Executive shall not participate in such opportunity without first making full disclosure to the Board of such opportunity and the scope of Executive’s proposed involvement. 

ARTICLE III 
 TERMS OF
EMPLOYMENT 
 3.1 Employment Period. Unless sooner terminated pursuant to the terms and conditions of this Agreement,
Executive’s employment pursuant to this Agreement shall commence on the Effective Date and end on the third anniversary of the Effective Date; provided, however, that on each anniversary of the Effective Date (an “Extension
Date”), if Executive’s employment under this Agreement has not been terminated pursuant to Article IV, the Term of this Agreement shall automatically extend for an additional year unless on or before the date that is ninety
(90) days prior to an Extension Date, the Company or Executive provides the other party hereto written notice (a “Notice of Non-Renewal”) that the Term will not be so extended. The initial three-year term of the Agreement and
any automatic renewal thereof pursuant to this Section 3.1 is collectively referred to herein as the “Term”. 

3.2 Annualized Base Compensation. As compensation for services rendered under this Agreement, Executive shall be entitled to
receive from the Company a minimum annualized base salary (before tax withholdings and other deductions) of $350,000.00 (“Base Salary”). Executive’s Base Salary shall be reviewed by the Board on an annual basis and, in the
Board’s discretion, may be increased. Executive’s Base Salary shall be payable in arrears at regular intervals (but no less frequently than monthly) in accordance with the prevailing practice and policies of the Company as may exist from
time to time. 

  
 4 

 3.3 Bonuses. 

(a) Annual Bonus. Executive shall be eligible to receive an annual bonus (“Annual Bonus”) for each full
calendar year beginning on or after January 1, 2016 that he is employed with the Company during the Term (each such calendar year, a “Bonus Year”) in which the Company achieves certain targets as set forth by the Compensation
Committee of the Board (the “Compensation Committee”), and the target amount of such bonus shall (assuming all performance targets are met or exceeded) be 75% of Executive’s Base Salary for the applicable Bonus Year;
provided that Executive shall not be entitled to an Annual Bonus for any Bonus Year, unless the Compensation Committee determines otherwise, in which the Company does not achieve such targets, as determined by the Compensation Committee; and
provided further, that Executive shall not be entitled to any Annual Bonus if Executive’s employment is terminated by the Company for Cause prior to the date of payment of such Annual Bonus and, subject to the exceptions set forth in
Sections 4.3(b)(ii), 4.3(c)(ii), and 4.3(d)(iii) Executive shall not be entitled to any Annual Bonus if Executive is not employed by the Company on the date the Compensation Committee determines annual bonuses for executive
officers of the Company. Each Bonus Year during the Term, the Compensation Committee will review the structure of the targets provided by it for the preceding Bonus Year and establish the targets for the Bonus Year as it deems appropriate. 

3.4 Benefits. The Company agrees to provide Executive and Executive’s eligible family members with the employment benefits
that the Company ordinarily provides to similarly situated employees, subject to the terms and conditions of the applicable benefit programs and plans. Executive and Executive’s family members shall be eligible to participate in any and all
employee benefit plans (including, but not limited to, medical and dental insurance, retirement plans, disability insurance and life insurance) implemented by the Company from time to time for its executive employees and their families. Such
employment benefits shall be governed by the applicable plan documents, insurance policies, and/or employment policies, and may be modified, suspended, or revoked in accordance with the terms of the applicable documents or policies. In addition to
such benefits, the Company agrees to provide, or cause to be provided, the following benefits upon satisfaction by Executive of any eligibility requirements, subject to the following limitations: 

(a) Sick-Leave Benefits and Disability Insurance. To the extent made available to other employees of the Company, and
unless Executive’s employment under this Agreement is terminated pursuant to Article IV, Executive shall be paid sick leave benefits at his then prevailing Base Salary rate during his absence due to illness or other incapacity;
provided, however, that any sick-leave benefits will be reduced by the amount, if any, of workers’ compensation, Social Security entitlement, and/or disability benefits, if any, paid or provided to Executive in connection with such
illness or incapacity. 
 (b) Vacations. The Company shall provide Executive with vacation consistent with Company
policy, but not less than twenty (20) business days paid vacation per calendar year during his employment under this Agreement (“Vacation Days”), which Vacation Days shall accrue and be used pursuant to the Company’s
vacation policies as may exist from time to time. 

  
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 3.5 Equity Incentives. As a long-term incentive, Executive shall be eligible to
receive long-term equity compensation awards as determined by the Compensation Committee pursuant to the Plan. The amount of such equity compensation award shall be determined by the Compensation Committee and shall equal a target of 100% of
Executive’s then effective Base Salary, subject to the sole discretion of the Compensation Committee. All such equity compensation awards, if any, shall be subject to the terms and conditions of the Plan and the award agreements pursuant to
which they are granted, as modified by this Agreement. 
 3.6 Other Benefits. 

(a) Perquisites. During the Term, Executive shall be entitled to fringe benefits and perquisites as determined from time
to time by the Company, which shall include provision for an automobile (or, if applicable, automobile allowance) for Executive’s business and personal use, and related insurance coverage, which is commensurate with Executive’s position,
title and duties with the Company, as determined by the Company from time to time and subject to all applicable benefit and insurance policies, terms and conditions. 

(b) Reimbursement of Business Expenses. Executive is authorized to incur ordinary, necessary, and reasonable business
expenses in connection with the performance of his duties, responsibilities, and authorities under this Agreement and for the promotion of the Company’s business and activities during this Agreement, including but not limited to expenses for
necessary travel and entertainment and other items of expense required in the normal and routine course of Executive’s employment under this Agreement. The Company will reimburse Executive from time to time for all such business expenses
actually incurred pursuant to and in conformity with this paragraph and the policies and practices of the Company then in effect relative to the reimbursement of business expenses. 

  
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 ARTICLE IV 

TERMINATION 
 4.1
Termination of Employment. 
 (a) Termination by the Company for Cause. The Company may terminate
Executive’s employment under this Agreement at any time, without any further liability to Executive, for Cause. If the Company believes Cause exists for terminating Executive’s employment under this Agreement pursuant to this paragraph, it
shall give Executive written notice of the acts or omissions constituting Cause in its Notice of Termination and Executive’s employment under this Agreement shall terminate immediately upon provision of such notice; provided, however,
that if such acts or omissions are of the type described in Section 1.1(e)(i), (iii) or (iv), no termination of Executive’s employment under this Agreement for Cause shall be effective unless and until Executive
fails to cure such acts or omissions, if curable (as determined by the Company in its reasonable discretion), within thirty (30) days after receiving such notice. 

(b) Termination by the Company without Cause or by Executive. The Company may terminate Executive’s employment
under this Agreement without Cause, and Executive may terminate Executive’s employment under this Agreement for any reason, or no reason whatsoever. Any termination of Executive’s employment by Executive shall be made by the provision of
at least thirty (30) days’ prior written notice to the Company in accordance with Section 4.2. Any termination of Executive’s employment by the Company without Cause shall be made by the provision of at least fourteen
(14) days’ prior written notice to Executive in accordance with Section 4.2. 
 (c) Change of Control
Termination. A termination of Executive’s employment by the Company without Cause in any case during a Protected Period following a Change of Control, will entitle Executive to the benefits specified in Section 4.3(c). 

(d) Termination on Death or Permanent Disability. Executive’s employment under this Agreement shall automatically
terminate on Executive’s death or upon the provision to Executive of notice of the Company’s determination of his Permanent Disability. 

4.2 Notice of Termination. Any termination of Executive’s employment by the Company or Executive pursuant to
Section 4.1 (other than upon his death) shall be communicated by a “Notice of Termination” to the other party hereto. 

4.3 Obligations of the Company Upon Termination. 

(a) Termination by the Company for Cause or by Executive. If the Company terminates Executive’s employment for
Cause or if Executive resigns his employment for any reason, or no reason whatsoever, Executive shall be entitled only to the payment of (i) the Accrued Obligation and (ii) unreimbursed business expenses. 

  
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 (b) Termination by the Company without Cause, Death or Permanent
Disability. If, at any time other than during a Protected Period, the Company terminates Executive’s employment during the Term without Cause, and such termination is not due to Executive’s death or Permanent Disability, then Executive
shall be entitled to receive (i) payment of the Accrued Obligation and any unreimbursed business expenses and (ii) subject to the satisfaction of any applicable performance targets, as described in Section 3.3, any of
Executive’s earned but unpaid Bonuses with respect to a previous calendar year completed prior to the Date of Termination (without regard to any requirement that Executive remain employed through the date of determination of such Bonuses). In
addition, subject to Executive’s (x) delivery to the Company by the Release Expiration Date (and non-revocation in any time provided to do so) of an executed release of claims against the Company and its affiliates in substantially the
form attached hereto as Exhibit “B” (the “Release”) and (y) compliance with Articles V, VI, and VII, Executive shall also be entitled to receive: 

(1) a lump sum payment of an amount equal to one (1) times the sum of (A) the annualized rate of Executive’s
Base Salary as in effect on the Date of Termination and (B) Executive’s target Annual Bonus for the calendar year in which the Date of Termination occurs; and 

(2) a lump sum payment of an amount equal to all Consolidated Omnibus Budget Reconciliation Act of 1985, as amended
(“COBRA”), premiums that would be payable during the period beginning on the Date of Termination and ending on the date that is 18 months after the Date of Termination, assuming Executive and his dependents who were enrolled in the
Company’s group health plans as of the Date of Termination elected continuation coverage under the Company’s group health plans as in effect, and at the applicable COBRA rates, as of the Date of Termination, without regard to whether
Executive and his dependents actually elected such coverage or whether actual COBRA coverage is applicable for the above-referenced time period. 

(c) Change of Control Termination. If, during a Protected Period, the Company terminates Executive’s employment
during the Term without Cause, then Executive shall be entitled to receive (i) payment of the Accrued Obligation and any unreimbursed business expenses and (ii) subject to the satisfaction of any applicable performance targets, as
described in Section 3.3, any of Executive’s earned but unpaid Bonuses with respect to a previous calendar year completed prior to the Date of Termination (without regard to any requirement that Executive remain employed through the
date of determination of such Bonuses). In addition, subject to Executive’s (x) delivery to the Company by the Release Expiration Date (and non-revocation in any time provided to do so) of an executed Release and (y) compliance with
Articles V, VI, and VII, Executive shall also be entitled to receive: 
 (1) a lump sum payment of an
amount equal to one (1) times the sum of (A) the annualized rate of Executive’s Base Salary as in effect on the Date of Termination and (B) Executive’s target Annual Bonus for the calendar year in which the Date of
Termination occurs; and 

  
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 (2) a lump sum payment of an amount equal to all COBRA premiums that would be
payable during the period beginning on the Date of Termination and ending on the date that is three (3) years after the Date of Termination, assuming Executive and his dependents who were enrolled in the Company’s group health plans as of
the Date of Termination elected continuation coverage under the Company’s group health plans as in effect, and at the applicable COBRA rates, as of the Date of Termination, without regard to whether Executive and his dependents actually elected
such coverage or whether actual COBRA coverage is applicable for the above-referenced time period. 
 (d) Termination on
Death or Permanent Disability. If Executive’s employment is terminated by reason of Executive’s death or Permanent Disability during the Term, the Company shall have no further obligations to Executive, other than for (i) payment
of the Accrued Obligation, (ii) payment of any unreimbursed business expenses; (iii) subject to the satisfaction of any applicable performance targets, as described in Section 3.3, any of Executive’s earned but unpaid
Bonuses with respect to a previous calendar year completed prior to the Date of Termination (without regard to any requirement that Executive remain employed through the date of determination of such Bonuses), and (iv) the timely payment or
provision of any and all benefit obligations provided under Section 3.4, which under their terms are available in the event of Executive’s death or Permanent Disability. 

4.4 Payment Timing. Except as otherwise provided in Section 10.13, the Company shall pay Executive the amounts
specified in Sections 4.3(a), 4.3(b)(i), 4.3(c)(i) and (ii), and 4.3(d)(i) and (ii), in each case, within forty-five (45) days after the Date of Termination. In addition, subject to Executive’s timely execution
and non-revocation of the Release and compliance with Articles V, VI and VII, the Company shall pay Executive the amounts specified in Sections 4.3(b)(ii), 4.3(b)(1), 4.3(b)(2), 4.3(c)(ii),
4.3(c)(1),4.3(c)(2), 4.3(e)(iii) or 4.3(e)(v), as applicable, on the date that is sixty (60) days after the Date of Termination, subject in each case to Section 10.13(g), as applicable. 

4.5 Limitations on Severance Payment and Other Payments or Benefits. 

(a) Limitation on Payments. Notwithstanding any provision of this Agreement, if any portion of the payments or benefits
under this Agreement, or under any other agreement with Executive or plan of the Company or its affiliates (in the aggregate, “Total Payments”), would constitute an “excess parachute payment” and would, but for this
Section 4.5, result in the imposition on Executive of an excise tax under Section 4999 of the Code (the “Excise Tax”), then the Total Payments to be made to Executive shall either be (i) delivered in full, or
(ii) delivered in such reduced amount in the manner determined in accordance with Section 4.5(b) so that no portion of such Total Payments would be subject to the Excise Tax, whichever of the foregoing results in the receipt by
Executive of the greatest benefit on an after-tax basis (taking into account the applicable federal, state and local income taxes and the Excise Tax). 

(b) Determination of Limit. Within forty (40) days following a Date of Termination or notice by one party to the
other of its belief that there is a payment or 

  
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benefit due Executive that would result in an excess parachute payment, Executive and the Company, at the Company’s expense, shall obtain the opinion (which need not be unqualified) of a
nationally recognized accounting firm or tax counsel (the “National Advisor”) selected by the Company (which may be regular accounting firm or outside counsel to the Company), which opinion sets forth (i) the amount of the Base
Period Income (as defined below), (ii) the amount and present value of the Total Payments, (iii) the amount and present value of any excess parachute payments determined without regard to any reduction of Total Payments pursuant to
Section 4.5(a), and (iv) the net after-tax proceeds to Executive, taking into account applicable federal, state and local income taxes and the Excise Tax if (x) the Total Payments were reduced in accordance with
Section 4.5(a) and (y) the Total Payments were not so reduced. The opinion of the National Advisor shall be addressed to the Company and Executive and shall be binding upon the Company and Executive. If such National Advisor’s
opinion determines that Section 4.5(a)(ii) applies, then the Agreement Benefits (as defined below) hereunder or any other payment or benefit determined by such counsel to be includable in Total Payments shall be reduced or eliminated so
that, under the bases of calculations set forth in such opinion, there will be no excess parachute payment. In such event, payments or benefits included in the Total Payments shall be reduced or eliminated by applying the following principles, in
order: (1) the payment or benefit with the higher ratio of the parachute payment value to present economic value (determined using reasonable actuarial assumptions) shall be reduced or eliminated before a payment or benefit with a lower ratio;
(2) the payment or benefit with the later possible payment date shall be reduced or eliminated before a payment or benefit with an earlier payment date; and (3) cash payments shall be reduced prior to non-cash benefits; provided that if
the foregoing order of reduction or elimination would violate Section 409A, then the reduction shall be made pro rata among the payments or benefits included in the Total Payments (on the basis of the relative present value of the parachute
payments). 
 (c) Definitions and Assumptions. For purposes of this Agreement: (i) the terms “excess
parachute payment” and “parachute payments” shall have the meanings assigned to them in Section 280G of the Code, and such “parachute payments” shall be valued as provided therein; (ii) present value shall be
calculated in accordance with Section 280G(d)(4) of the Code; (iii) the term “Base Period Income” means an amount equal to Executive’s “annualized includible compensation for the base period” as defined in
Section 280G(d)(1) of the Code; (iv) “Agreement Benefits” shall mean the payments and benefits to be paid or provided pursuant to this Agreement; (v) for purposes of the opinion of the National Advisor, the value of
any noncash benefits or any deferred payment or benefit shall be determined by the Company’s independent auditors in accordance with the principles of Sections 280G(d)(3) and (4) of the Code, which determination shall be evidenced in a
certificate of such auditors addressed to the Company and Executive; and (vi) Executive shall be deemed to pay federal income tax and employment taxes at the highest marginal rate of federal income and employment taxation, and state and local
income taxes at the highest marginal rate of taxation in the state or locality of Executive’s domicile (determined in both cases in the calendar year in which the Date of Termination occurs or the notice described in Section 4.5(b)
above is given, whichever is earlier), net of the maximum reduction in federal income taxes that may be obtained from the deduction of such state and local taxes. 

  
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 (d) Reasonableness of Compensation. The Company agrees that it shall
instruct the National Advisor to take into account the value of any reasonable compensation for services to be rendered by the Executive in connection with making determinations with respect to Section 280G and/or Section 4999 of the Code,
including the non-competition provisions applicable to Executive under Article VII and any other non-competition provisions that may apply to Executive. The Company agrees to fully cooperate in the valuation of any such services, including
any non-competition provisions, and agrees to retain, at the Company’s expense, a recognized valuation firm to make a determination of the value of the non-competition provisions. If the National Advisor so requests in connection with the
opinion required by this Section 4.5, Executive and the Company shall obtain, at the Company’s expense, and the National Advisor may rely on, the advice of a firm of recognized executive compensation consultants as to the
reasonableness of any item of compensation to be received by Executive solely with respect to its status under Section 280G of the Code. 

(e) Changes to Sections of the Code. This Section 4.5 shall be amended to comply with any amendment or
successor provision to Sections 280G or 4999 of the Code. If such provisions are repealed without successor, then this Section 4.5 shall be cancelled without further effect. 

4.6 Resignation Upon Termination. Upon any termination of Executive’s employment with the Company, and without further
action on the part of Executive, Executive shall be deemed to have resigned from each directorship and other office or position of authority Executive may hold with the Company or any of its direct or indirect subsidiary business entities. 

 ARTICLE V 

CONFIDENTIAL INFORMATION AND NONCOMPETITION 

5.1 Confidential Information. The Company promises and Executive acknowledges that Executive will receive new confidential
information in Executives new position with Company. For the purposes of Articles V, VI, VII, VIII and IX, the “Company” shall be deemed to include the Company and each of its Subsidiaries. 

5.2 Scope of Confidential Information. Executive acknowledges that the Company has developed, and will during the term of
Executive’s employment continue to develop, substantial, confidential, competitively valuable information and other intangible or “intellectual property” in connection with its business, some or all of which is proprietary to the
Company, (collectively, the “Confidential Information”). Without limiting the generality of the preceding sentence, Executive expressly recognizes and agrees that, subject to the remainder of this Section 5.2, the
following items, and all copies, summaries, extracts or derivative works thereof, are entitled to trade secret protection and constitute Confidential Information under this Agreement, whether developed prior to the date hereof or thereafter, and
whether with the assistance of Executive or otherwise: (i) the Company’s proprietary computer software, databases and lists of customers, prospects, candidates, and employees; employee applications; skills inventory sheets and similar
summaries of employee qualifications, as well as employee compensation; customer ordering habits, billing rates, buying preferences, and short term needs; sales reports and analysis; (ii) employee reports and analysis; customer job orders and
profit margin data;  

  
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businesses processes, methods of operation and sales techniques; (iii) statistical information regarding the Company; (iv) financial information of the Company and its customers that is
not publicly available; (v) specially negotiated terms and pricing with vendors and customers; (vi) research and development, business projects, strategic business plans, and strategies; products and solution services offered to customers;
and (vii) any other non-public information of the Company that gives the Company a competitive advantage by virtue of it not being generally known. Notwithstanding the foregoing, the Confidential Information shall not include (a) any
information which is or becomes publicly available, other than as a result of the wrongful action of Executive or his agents; (b) any information independently developed by Executive subsequent to the Date of Termination; (c) any
information made available to Executive following the termination of Executive’s employment from a third party not known by Executive to be under binder of confidentiality to the Company with regard thereto or (d) any information as to
which the Company specifically waives its rights hereunder pursuant to an instrument in writing. 
 5.3 Agreement to Provide
Confidential Information to Executive. The Company promises to provide some or all of the Confidential Information described above to Executive, without regard to the duration of his continued employment with the Company. Executive agrees
that the Confidential Information belongs to the Company, is subject to the terms of this Agreement, and is not his property. 

5.4 Works Made for Hire. Executive recognizes and agrees that all original works of authorship, and all inventions, discoveries,
improvements and other results of creative thinking or discovery by Executive during the term of Executive’s employment, whether the result of individual efforts or in acts in concert with others, arising in the scope of Executive’s
employment, utilizing in any way any of the Confidential Information or Company property, or otherwise relating to the Company’s business, are and shall be “works made for hire” within the meaning of the United States copyright laws,
to the extent applicable thereto, and in all events shall be the sole and exclusive property of the Company (collectively, the “Created Works”). Without limiting the generality of the foregoing, the Created Works shall include all
computer software, written materials, business processes, compilations, programs, improvements, inventions, notes, copyrightable works made, fixed, conceived, or acquired by Executive in the scope of Executive’s employment, utilizing in any way
any of the Confidential Information, or otherwise relating to the Company’s business. No part of the definition of Created Works is intended to exclude the Created Works from being included among the items constituting Confidential
Information. 
 5.5 Agreement to Return Confidential Information and Company Property. At any time during employment,
upon demand by the Company, and within five (5) days of the termination of Executive’s employment for any reason, regardless of which party initiates such termination, Executive shall return all property of the Company to the Company,
including but not limited to all computer files and other electronically stored information and all copies of all or any part of the Confidential Information or any summaries, extracts or derivative works thereof, in good condition. Such property
includes but is not limited to any Confidential Information, including but not limited to Created Works constituting Confidential Information, and any of the Company’s tools of trade. 

  
 12 

 5.6 Assignment of Created Works. Executive hereby fully assigns to the Company all
of his right, title and interest in and to the Created Works and all aspects thereof, including without limitation all rights to renewals, extensions, causes of action, reproduce, prepare derivative works, distribute, display, perform, transfer,
make, use and sell. Executive will, from time to time during the term of this Agreement and thereafter, and at any time upon the request of the Company, execute and deliver any documents, agreements, certificates or other instruments affirming,
giving effect to or otherwise perfecting the Company’s rights in the Created Works and will provide such cooperation as the Company shall reasonably request in connection with the protection, exploitation or perfection of its rights therein
anywhere in the world. 
 5.7 Power of Attorney. If the Company is unable, after reasonable effort, to secure
Executive’s signature on any application for patent, copyright, trademark or other analogous registration or other documents regarding any legal protection relating to a Created Work, whether because of Executive’s physical or mental
incapacity or for any other reason whatsoever, Executive hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as his or her agent and attorney-in-fact, to act for and in Executive’s behalf and stead
to execute and file any such application or applications or other documents and to do all other lawfully permitted acts to further the prosecution and issuance of patent, copyright or trademark registrations or any other legal protection thereon
with the same legal force and effect as if executed by Executive. 
 5.8 Disclosure of Inventions. Executive will
promptly and without reservation fully disclose any Created Works to the Company both during the term of employment and thereafter.  

ARTICLE VI 

NON-DISCLOSURE 
 6.1
Non-Disclosure. 
 (a) General Duty. Executive agrees that he will not directly or indirectly use
any Confidential Information, including without limitation the Company’s proprietary information, trade secrets or the Created Works, for his or her own benefit or for the benefit of any third party. Executive agrees that he will not directly
or indirectly disclose any Confidential Information, including, without limitation, the Company’s proprietary information, trade secrets, or the Created Works, to any person or entity who is not an employee of the Company unless previously
authorized to do so by the Company. 
 (b) Special Exceptions. Notwithstanding the foregoing, to the extent that
Executive shall be required, by law or process of law, to disclose any Confidential Information, Executive shall be entitled to do so only to the extent so required, subject to giving the Company prompt, advance notice of such requirement so that
the Company may pursue a protective order or other remedy, and Executive acknowledges and agrees that he will cooperate reasonably with the Company’s efforts to obtain a confidentiality order or similar protection. 

  
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 6.2 Nature of Business. 

(a) Acknowledgment of Competitive Business. Executive acknowledges and agrees that the Company is engaged in a highly
competitive industry and must protect its Confidential Information against unauthorized use or disclosure that would irreparably harm the Company’s interests. Executive recognizes that the disclosure by the Company to Executive of certain of
its Confidential Information will be necessary and useful to Executive in the performance of his job duties for the Company under this Agreement. As a result, Executive will have access to Confidential Information that could be used by the
Company’s competitors in a manner which would irreparably harm the Company’s competitive position in the marketplace. 

(b) Acknowledgment of Need for Protection. Executive further acknowledges and agrees that it would be virtually
impossible for Executive to ignore all knowledge of the Company’s Confidential Information if he were to engage in competition with the Company. It is, therefore, reasonable and proper for the Company to protect against the intentional or
inadvertent use of such Confidential Information. Accordingly, Executive agrees that restrictions on competition and soliciting the Company’s customers or employees during his employment under this Agreement and for a reasonable period of time
thereafter are appropriate and necessary for the protection of the Company’s Confidential Information, goodwill, and other legitimate business interests. 

ARTICLE VII 

NON-SOLICITATION AND NON-COMPETITION 

7.1 Non-Solicitation and Non-Competition. Ancillary to the agreements to provide Executive with the Confidential
Information as set forth above, and in order to aid in the enforcement of those agreements, Executive agrees that, during the Term and for a period of two (2) years after the termination of Executive’s employment with the Company (or, in
the event Executive is entitled to the payments and benefits described in Section 4.3(c) for a period of one (1) year after termination of Executive’s employment with the Company) (as applicable, the “Prohibited
Period”), he will: 
 (a) refrain from carrying on or engaging in the Business in the Restricted Area.
Executive agrees and covenants that, because the following conduct would effectively constitute carrying on or engaging in the Business, he will not, and he will cause his affiliates not to, in the Restricted Area during the Prohibited Period:
directly or indirectly, own, manage, operate, join, become an employee of, control or participate in or be connected with any business, individual, partnership, firm, corporation or other entity which engages in the Business; 

(b) refrain from, and cause his affiliates to refrain from, soliciting or causing to be solicited any customer of the Company
that was a customer of the Company in the Restricted Area during the period when Executive was employed by the Company; and 

(c) refrain from, and cause his affiliates to refrain from, engaging or employing or soliciting or contacting with a view to
the engagement or employment of, any person who is an officer or employee of the Company. 

  
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 7.2 Exception for Equity Ownership. Notwithstanding the restrictions
contained in Section 7.1, Executive or any of his affiliates may own (i) less than five percent (5%) of any equity security registered under the Exchange Act, in any entity engaged in the Business, provided
that neither Executive nor his affiliates has the power, directly or indirectly, to control or direct the management or affairs of any such entity and is not involved in the management of such entity, and (ii) those equity investments owned by
Executive as of the date of this Agreement as previously disclosed to and agreed by the Board. 
 7.3 Exception Within
Oklahoma. Notwithstanding the restrictions contained in Section 7.1, within those areas of the State of Oklahoma that are within the Restricted Area (the “Oklahoma Restricted Area”), Executive shall be
permitted to engage in the Business after his employment with the Company has ended but before the Prohibited Period has expired; provided, however, that at no point during the Prohibited Period shall Executive, within the
Oklahoma Restricted Area, solicit the goods, services or a combination of goods and services from any established customer of the Company. 

ARTICLE VIII 
 SURVIVAL
OF COVENANTS, ENFORCEMENT OF COVENANTS AND REMEDIES 
 8.1 Survival of Covenants. Executive acknowledges and agrees
that his covenants in Articles V, VI and VII, and those provisions necessary to interpret and enforce them, shall survive the termination of this Agreement, and the existence of any claim or cause of action of Executive against
the Company whether predicated on this Agreement or otherwise shall not constitute a defense to the enforcement by the Company of those covenants. 

8.2 Enforcement of Covenants. Executive acknowledges and agrees that his covenants in Articles V, VI and
VII are, among other things, ancillary to the otherwise enforceable agreements to provide Executive with Confidential Information and are supported by independent, valuable consideration. Executive further acknowledges and agrees that the
limitations as to time, geographical area, and scope of activity to be restrained by those covenants are reasonable and acceptable to Executive in all respects and do not impose any greater restraint than is reasonably necessary to protect the
Company’s goodwill and other legitimate business interests. Executive further agrees that if, at some later date, a court of competent jurisdiction determines that any of the covenants in Articles V, VI or VII are
unreasonable, any such covenants shall be reformed by the court and enforced to the maximum extent permitted under the law. 
 8.3
Remedies. In the event of actual or threatened breach by Executive of any of his covenants in Articles V, VI, and VII, the Company shall be entitled to equitable relief by temporary restraining order, temporary
injunction, or permanent injunction or otherwise, in addition to all other legal and equitable relief to which it may be entitled, including but not limited to any and all monetary damages that the Company may incur as a result of said breach,
violation, or threatened breach or violation. For the avoidance of doubt, nothing shall restrict the Company from pursuing any relief otherwise provided for by this Agreement. The Company may pursue any remedy available to it concurrently or
consecutively in any order as to any breach, violation, or threatened breach or violation, and the pursuit of one of such remedies at any time will not be deemed an election of remedies or waiver of the right to pursue any other of

  
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such remedies as to such breach, violation, or threatened breach or violation, or as to any other breach, violation, or threatened breach or violation. In addition to the above, in the event
that a final judicial determination concludes that Executive has materially breached any of his covenants in Articles V, VI or VII, the Company will be entitled to reimbursement by Executive of all cash severance payments paid
by the Company under Section 4.3(b)(1), Section 4.3(b)(2), Section 4.3(c)(1), or Section 4.3(c)(2), as applicable, of this Agreement during the period of any such breach. In the event of an alleged
actual material breach by Executive of any of his covenants in Articles V, VI or VII, as determined in good faith by the Board, the Company may suspend the payments of cash severance then owing to Executive under
Section 4.3(b)(1), Section 4.3(b)(2), Section 4.3(c)(1), or Section 4.3(c)(2), as applicable, of this Agreement without resort to judicial intervention until such breach is cured (if curable);
provided, however, that if it is later determined, whether judicially or otherwise by the Board, that Executive was not in material breach of such covenants, the Company shall promptly pay to Executive all such suspended payments and
benefits, as well as reimbursement of all reasonable costs and expenses (including but not limited to reasonable attorneys’ fees) incurred by Executive in defending any such claim or action in accordance with Section 10.11; and
provided further, however, that any cure and payments upon cure and any payments upon a judicial determination that no breach occurred will be made no later than the deadline under Section 409A that is applicable to disputed payments and
refusals to pay. 
 8.4 Indemnification. In any situation where, under applicable law, the Company has the power
to indemnify, advance expenses to and defend Executive in respect of any judgments, fines, settlements, loss, cost or expense (including but not limited to attorneys’ fees) arising from bona fide claims of any nature related to or arising out
of Executive’s activities as an agent, employee, officer or director of the Company or in any other capacity on behalf of or at the request of the Company, then the Company shall promptly on written request, indemnify Executive, advance
expenses (including but not limited to reasonable attorneys’ fees) to Executive and defend Executive to the fullest extent permitted by applicable law, including but not limited to making such findings and determinations and taking any and all
such actions as the Company may, under applicable law, be permitted to have the discretion to take so as to effectuate such indemnification, advancement or defense. Such agreement by the Company shall not be deemed to impair any other obligation of
the Company respecting Executive’s indemnification or defense otherwise arising out of this or any other agreement or promise of the Company under any statute. 

ARTICLE IX 

ANTI-CORRUPTION COMPLIANCE 

9.1 Compliance with Applicable Anti-Corruption Laws. Executive acknowledges and agrees that he understands and will
comply with all Applicable Anti-Corruption Laws, and will not, directly or indirectly, pay, offer, authorize or promise to pay or provide anything of value to any Government Official, political party, political party official or political candidate,
or to any other person or entity in order to influence an official act, omission or decision that will assist the Company or any other person or entity in obtaining or retaining business or in directing business to any other person or entity for any
purpose that violates the Applicable Anti-Corruption Laws or would cause the Company to be in violation of Applicable Anti-Corruption Laws. 

  
 16 

 9.2 Compliance with Company Anti-Corruption Program. Executive acknowledges and
agrees that he will comply with the Company’s Anti-Corruption Compliance Program and Manual and Code of Business Conduct, including the Company’s annual anti-corruption training requirement, and further agrees to execute a compliance
certification, as periodically may be requested by the Company. 
 ARTICLE X 

MISCELLANEOUS 
 10.1
Entire Agreement. This Agreement constitutes the entire agreement between the parties concerning this Agreement’s subject matter and supersedes all prior agreements and understandings, both written and oral, between the parties with
respect to its subject matter.  
 10.2 Modification; Amendment. This Agreement may not be modified or amended in any
respect except by an instrument in writing signed by the party against whom such modification or amendment is sought to be enforced. No modification or amendment may be enforced against the Company unless such modification or amendment is in writing
and authorized by the Board.  
 10.3 No Waiver. The waiver by either party of a breach of any term of this Agreement
shall not operate or be construed as a waiver of a subsequent breach of the same provision by either party or of the breach of any other term or provision of this Agreement. 

10.4 Remedies; Governing Law; Jurisdiction. This Agreement and performance under it, and the exclusive venue for all proceedings
that may ensue from its breach, shall be in state or federal court, as applicable, in Harris County, Texas, and this Agreement shall be construed in accordance with the laws of the State of Texas. In the event of a breach or threatened breach by
either Executive or the Company of any provision of this Agreement, the non-breaching party shall be entitled to a temporary restraining order and an injunction restraining the breaching party from the commission or threatened commission of such
breach. Nothing in this Agreement, however, precludes the Company from seeking to remove a civil action from any state court to federal court. Nothing herein shall be construed as prohibiting either Executive or the Company from pursuing any other
remedies available to it for such breach or threatened breach, including but not limited to the recovery of money damages. 
 10.5
Executive’s Representations. Executive represents and warrants that he is free to enter into this Agreement and to perform each of the terms and covenants of it. Executive represents and warrants that he is not restricted or
prohibited, contractually or otherwise, from entering into and performing this Agreement, and that his execution and performance of this Agreement is not a violation or breach of any other agreement between Executive and any other person or entity.
Executive acknowledges and agrees that (a) he is not relying upon any determination by the Company, its Subsidiaries or affiliates, or any of their respective employees, directors, officers, attorneys or agents (collectively, the
“Company Parties”) regarding the tax effects associated with Executive’s execution of this Agreement and (b) in deciding to enter into this Agreement, Executive is relying on his own judgment and the judgment of the
professionals of his choice with whom he has consulted. Executive hereby releases, acquits and forever discharges the Company Parties from all actions, causes of action,  

  
 17 

 
suits, debts, obligations, liabilities, claims, damages, losses, costs and expenses of any nature whatsoever, whether known or unknown, on account of or arising out of, or in any way related to
the tax effects associated with Executive’s execution of this Agreement. 
 10.6 The Company’s
Representations. The Company represents and warrants that it is free to enter into this Agreement and to perform each of the terms and covenants of it. The Company represents and warrants that it is not restricted or
prohibited, contractually or otherwise, from entering into and performing this Agreement, and that its execution and performance of this Agreement is not a violation or breach of any other agreement between the Company and any other person or
entity. The Company represents and warrants that this Agreement is a legal, valid and binding agreement of the Company, enforceable in accordance with its terms. 

10.7 Notices. All notices and other communications under this Agreement shall be in writing and shall be given in person or by
either personal delivery, facsimile with confirmation of receipt, overnight delivery, or first class mail, certified or registered with return receipt requested, with postal or delivery charges prepaid, and shall be deemed to have been duly given
when delivered personally, or three days after mailing first class, certified or registered with return receipt requested, (i) if to the Company, to the Company’s headquarters, attention to the Executive Vice President, General
Counsel & Corporate Secretary of the Company, and (ii) if to Executive, to Executive’s address on file in the Company’s records. 

10.8 Tax Withholding. The Company may withhold from any amounts payable under this Agreement such federal, state or local taxes
as shall be required to be withheld pursuant to any applicable law or regulation. 
 10.9 Severability. If any
provision of this Agreement is held to be illegal, invalid, or unenforceable, (a) this Agreement shall be considered divisible, (b) such provision shall be deemed inoperative to the extent it is deemed illegal, invalid, or unenforceable,
and (c) in all other respects this Agreement shall remain in full force and effect. 
 10.10
Assignment. The rights and obligations of the parties under this Agreement shall be binding upon and inure to the benefit of their respective successors, assigns, executors, administrators and heirs; provided, however, that
neither the Company nor Executive may assign any duties under this Agreement without the prior written consent of the other. Notwithstanding the foregoing, the parties acknowledge that it is anticipated that Executive will be employed by a
subsidiary of the Company, and the Company may assign (in whole or in part) its rights and obligations under this Agreement to such entity without prior written consent of Executive; provided, however, that the Company shall remain liable for
all compensation obligations to Executive under this Agreement.  
 10.11 Attorneys’ Fees and Other Costs. If
either party breaches this Agreement, or if a dispute arises between the parties based on or involving this Agreement, the party that prevails in the resolution of such dispute is entitled to recover from the other party its reasonable
attorneys’ fees, court costs, and expenses incurred in enforcing such rights or resolving such dispute. For purposes of this Section 10.11, the finder of fact shall be requested to answer affirmatively as to whether a party
“prevailed” in order to recoup attorneys’ fees and other costs pursuant to this Section 10.11. 

  
 18 

 10.12 Counterparts. This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute but one and the same instrument. 
 10.13
Section 409A. 
 (a) General. Any compensation or benefits made to Executive under the terms of this
Agreement may constitute nonqualified deferred compensation for purposes of Section 409A. Accordingly, notwithstanding any provision contained herein, this Agreement shall be interpreted in a manner that is consistent with Section 409A. In
the event that any provision of this Agreement conflicts with Section 409A, such provision is to that extent superseded by the applicable Section 409A standards for nonqualified deferred compensation plans to satisfy the requirements of
Section 409A. 
 (b) General Suspension of Payments. Notwithstanding any contrary provisions in this Agreement,
if Executive is a “specified employee,” as such term is defined within the meaning of Section 409A, as determined by policies established by the Board, any payments or benefits which are classified as “nonqualified deferred
compensation” for purposes of Section 409A and are payable or provided as a result of Executive’s termination of employment that would otherwise be paid or provided within six (6) months and one (1) day of such termination
(other than due to death or “disability”, as such term is defined within the meaning of Section 409A) shall instead be paid or provided on the earlier of (i) six (6) months and two (2) days following Executive’s
termination, (ii) the date of Executive’s death, or (iii) any date that otherwise complies with Section 409A. In the event that Executive is entitled to receive payments during the suspension period provided under this
Section 10.13(b), Executive shall receive the accumulated benefits that would have been paid or provided under this Agreement within the six (6) month and one (1) day suspension period on the earliest day that would be
permitted under Section 409A. 
 (c) Separation from Service. For all purposes of this Agreement, Executive’s
employment with the Company shall be considered to have terminated when Executive incurs a “separation from service” with the Company within the meaning of Section 409A; provided, however, that whether such a separation from
service has occurred shall be determined based upon a reasonably anticipated permanent reduction in the level of bona fide services to be performed to no more than twenty percent (20%) of the average level of bona fide services provided in the
immediately preceding thirty-six (36) months. 
 (d) Reimbursement Payments. The following rules shall apply to
payments of any amounts under this Agreement that are treated as “reimbursement payments” under Section 409A, including, but not limited to, any payments provided under Section 4.3: (i) the amount of expenses eligible
for reimbursement in one calendar year shall not limit the available reimbursements for any other calendar year; (ii) Executive shall file a 

  
 19 

 
claim for all reimbursement payments not later than thirty (30) days following the end of the calendar year during which the expenses were incurred, (iii) the Company shall make such
reimbursement payments within thirty (30) days following the date Executive delivers written notice of the expenses to the Company; and (iv) Executive’s right to such reimbursement payments shall not be subject to liquidation or
exchange for any other payment or benefit. 
 (e) Separate Payments. For purposes of Section 409A, any right to a
series of installment payments under this Agreement shall be treated as a right to a series of separate payments so that each payment is designated as a separate payment for purposes of Section 409A, and any rights and benefits under this
Agreement shall be treated as rights to separate payments for purposes of Section 409A. 
 (f) Amendment. In the event
that the Company determines that any amounts payable hereunder will be taxable to Executive under Section 409A prior to payment to Executive, then the Company may (i) adopt amendments to this Agreement, including but not limited to
amendments with retroactive effect, that the Company determines necessary or appropriate to preserve the intended tax treatment of the benefits provided hereunder and/or (ii) take such other actions as the Company determines necessary or
appropriate to avoid the imposition of tax under Section 409A. 
 (g) Coordination with Prior Employment Agreement.
Notwithstanding any provision hereof to the contrary, with respect to payments to Executive pursuant to Sections 4.3(b)(1) or 4.3(c)(1), the amount of any such payments that would have been paid in the form of installment payments
pursuant to the employment agreement in effect between Executive and the Company’s predecessor immediately prior to the Effective Date shall instead be paid in installments over the same period specified in such agreement to the extent
necessary to comply with Section 409A, and the remaining amount of such payments shall be paid on the date that is sixty (60) days after the Date of Termination, subject to Executive’s compliance with Articles V, VI and
VII and timely execution and non-revocation of the Release. 
 10.14 Prior Employment Agreement Superseded. Upon the
Effective Date, any and all prior employment agreements between the Company, its predecessors or any Subsidiary and Executive, shall be of no further force or effect, and this Agreement shall supersede all such prior agreements. 

10.15 Limitation. Subject to the termination provisions contained herein, this Agreement shall not confer any right or impose
any obligation on the Company or its Subsidiaries to continue the employment of Executive in any capacity or limit the right of the Company, its Subsidiaries, or Executive to terminate Executive’s employment. 

10.16 Third-Party Beneficiaries. Each Subsidiary shall be a third-party beneficiary of Executive’s obligations under
Articles V, VI, VII, VIII and IX, and shall be entitled to enforce such obligations as if a party hereto. 

[Signature Page Follows] 

  
 20 

 IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the
day and year indicated above. 
  

	
	COMPANY:
	
	C&J ENERGY SERVICES LTD.
	
	/s/ Donald
Gawick                                        
               
	
	Name: Donald
Gawick                                        
        
	
	Title: Chief Executive
Officer                                     

  

	
	COMPANY:
	
	/s/ Timothy
Wallace                                        
            
	
	Name: Timothy
Wallace                                        
      

  
 21 

 EXHIBIT A 

RESTRICTED AREA 
 Outside of the
United States: 
 Kuwait 
 Saudi Arabia 

United Arab Emirates 
 Oman 

Mexico 
 Canada 

Within the United States: 
 State of Arkansas

 State of California 
 State of Colorado

 State of Idaho 
 State of Kansas 

Louisiana Parishes of: 
 Bienville 

Bossier 
 Caddo 

Caldwell 
 Claiborne 

DeSoto 
 Harrison 

Jackson 
 Lincoln 

Natchitoches 
 Red River 

Sabine 
 St. Helena 

Webster 
 Winn 

State of Mississippi 
 State of Montana 

State of New York 
 State of North Dakota 

State of Ohio 
 State of Oklahoma 

State of Pennsylvania 
 State of Texas 

State of Utah 
 State of West Virginia 

State of Wyoming 

  
 A-1 

 EXHIBIT B 

WAIVER AND RELEASE 

Pursuant to the terms of the Employment Agreement between me and C&J Energy Services Ltd., dated October 6, 2016 (the
“Agreement”), and in exchange for the benefits provided in the Agreement to which I acknowledge I would not otherwise be fully entitled (the “Separation Benefits”), I hereby waive all claims against and release
(i) C&J Energy Services Ltd. and its directors, officers, employees, agents, insurers, predecessors, successors and assigns (collectively referred to as the “Company”), (ii) all of the affiliates (including all parent
companies and all wholly or partially owned subsidiaries) of the Company and their directors, officers, employees, agents, insurers, predecessors, successors and assigns (collectively referred to as the “Affiliates”), (iii) the
Company’s and its Affiliates’ employee benefit and incentive plans and the fiduciaries and agents of said plans (collectively referred to as the “Benefit Plans”); and (iv) the Company’s and its Affiliates’
equity incentive and equity investment plans and the fiduciaries and agents of said plans (collectively referred to as the “Equity Plans”) from any and all claims, demands, actions, liabilities and damages arising out of or relating
in any way to my employment with or separation from employment with the Company and its Affiliates other than benefits due pursuant to the Agreement and rights and benefits I am entitled to under the Benefit Plans or Equity Plans. (The Company, its
Affiliates, the Benefit Plans and the Equity Plans are sometimes hereinafter collectively referred to as the “Released Parties.”) 

I understand that signing this Waiver and Release is an important legal act. I acknowledge that I have been advised in writing to consult
an attorney before signing this Waiver and Release. I understand that, in order to be eligible for the Separation Benefits, I must sign (and return to the Company) this Waiver and Release before I will receive the Separation Benefits. I acknowledge
that I have been given at least twenty-one (21) days to consider whether to accept the Separation Benefits and whether to execute this Waiver and Release. 

In exchange for the Separation Benefits, (1) I agree not to sue in any local, state and/or federal court regarding or relating in any way
to my employment with or separation from employment with the Company and its Affiliates, and (2) I knowingly and voluntarily waive all claims and release the Released Parties from any and all claims, demands, actions, liabilities, and damages,
whether known or unknown, arising out of or relating in any way to my employment with or separation from employment with the Company and its Affiliates, except to the extent that my rights are vested under the terms of any employee benefit plans
sponsored by the Company and its Affiliates and except with respect to such rights or claims as may arise after the date this Waiver and Release is executed. This Waiver and Release includes, but is not limited to, claims and causes of action under:
Title VII of the Civil Rights Act of 1964, as amended; the Age Discrimination in Employment Act of 1967, as amended, including the Older Workers Benefit Protection Act of 1990; the Civil Rights Act of 1866, as amended; the Civil Rights Act of 1991;
the Americans with Disabilities Act of 1990; the Workers Adjustment and Retraining Notification Act of 1988; the Pregnancy Discrimination Act of 1978; the Employee Retirement Income Security Act of 1974, as amended; the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended; the Family and Medical Leave Act of 1993; the Fair Labor Standards Act; the Occupational Safety and Health Act; the Texas Labor Code §21.001 et. seq.; the Texas Labor

  
 B-1 

 
Code; claims in connection with workers’ compensation, retaliation or “whistle blower” statutes; and/or contract, tort, defamation, slander, wrongful termination or any other state
or federal regulatory, statutory or common law. Further, I expressly represent that no promise or agreement which is not expressed in this Waiver and Release has been made to me in executing this Waiver and Release, and that I am relying on my own
judgment in executing this Waiver and Release, and that I am not relying on any statement or representation of the Company or its Affiliates or any of their agents. I agree that this Waiver and Release is valid, fair, adequate and reasonable, is
with my full knowledge and consent, was not procured through fraud, duress or mistake and has not had the effect of misleading, misinforming or failing to inform me. I acknowledge and agree that the Company will withhold the minimum amount of any
taxes required by federal or state law from the Separation Benefits otherwise payable to me. 
 This Waiver and Release does not apply to
any claims for unemployment compensation or any other claims or rights which, by law, cannot be waived, including the right to file an administrative charge or participate in an administrative investigation or proceeding; provided,
however, that I disclaim and waive any right to share or participate in any monetary award resulting from the prosecution of such charge or investigation or proceeding. 

Notwithstanding anything to the contrary in this Waiver and Release, I do not release and expressly retain (a) all rights to indemnity,
contribution, and a defense, and directors and officers and other liability coverage that I may have under any statute, the bylaws of the Company or by other agreement; (b) the right to receive the Separation Benefits; and (c) the right to
any, unpaid reasonable business expenses and any accrued benefits payable under any Company welfare plan or tax-qualified plan or other Benefit Plans. 

I acknowledge that the Company’s provision of the Separation Benefits is not an admission by any one or more of the Released Parties that
they engaged in any wrongful or unlawful act or that they violated any federal or state law or regulation. I acknowledge that neither the Company nor its Affiliates have promised me continued employment or represented to me that I will be rehired in
the future. I acknowledge that my employer and I contemplate an unequivocal, complete and final dissolution of my employment relationship. I acknowledge that this Waiver and Release does not create any right on my part to be rehired by the Company
or its Affiliates, and I hereby waive any right to future employment by the Company or its Affiliates. 
 I understand that for a period of
seven (7) calendar days following the date that I sign this Waiver and Release, I may revoke my acceptance of this Waiver and Release, provided that my written statement of revocation is received on or before that seventh (7th) day
by the Company’s General Counsel, in which case the Waiver and Release will not become effective. If I timely revoke my acceptance of this Waiver and Release, the Company shall have no obligation to provide the Separation Benefits to me. I
understand that failure to revoke my acceptance of the offer within seven (7) calendar days from the date I sign this Waiver and Release will result in this Waiver and Release being permanent and irrevocable. 

Should any of the provisions set forth in this Waiver and Release be determined to be invalid by a court, agency or other tribunal of
competent jurisdiction, it is agreed that such determination shall not affect the enforceability of other provisions of this Waiver and Release. I acknowledge that this Waiver and Release sets forth the entire understanding and agreement between me
and the Company and its Affiliates concerning the subject matter of this Waiver and Release and supersedes any prior or contemporaneous oral and/or written agreements or representations, if any, between me and the Company or its Affiliates. 

  
 B-2 

 I acknowledge that I have read this Waiver and Release, have had an opportunity to ask questions
and have it explained to me and that I understand that this Waiver and Release will have the effect of knowingly and voluntarily waiving any action I might pursue, including but not limited to breach of contract, personal injury, retaliation,
discrimination on the basis of race, age, sex, national origin, or disability and any other claims arising prior to the date of this Waiver and Release. By execution of this document, I do not waive or release or otherwise relinquish any legal
rights I may have which are attributable to or arise out of acts, omissions, or events of the Company or its Affiliates which occur after the date of the execution of this Waiver and Release. 

 

					
	 Printed Name of Executive

 
	  		  	Company’s Representative
	 Signature
  
	  		  	Company’s Execution Date
	Signature Date	  		  	

  
 B-3

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