Document:

Exhibit

EXHIBIT 10.3
DUTCH PLEDGE AGREEMENT

dated November 5, 2018

Frank's International C.V.,
Frank's International LP B.V.,
Frank's International Partners B.V., 
Frank's International N.V. and
Frank's International Management B.V.
as Pledgors

and

JPMorgan Chase Bank, N.A.
as Pledgee

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TABLE OF CONTENTS

	
			
	1
	DEFINITIONS AND INTERPRETATION
	1

	2
	AGREEMENT AND CREATION OF PLEDGE
	6

	3
	REPRESENTATIONS AND WARRANTIES
	8

	4
	UNDERTAKINGS
	9

	5
	AUTHORITY TO COLLECT AND TO REQUIRE POSSESSION
	10

	6
	ENFORCEMENT
	11

	7
	APPLICATION OF PROCEEDS
	12

	8
	CANCELLATION
	12

	9
	LIABILITY
	12

	10
	COSTS
	12

	11
	POWER OF ATTORNEY
	12

	12
	MISCELLANEOUS
	13

	13
	GOVERNING LAW AND JURISDICTION
	14

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THIS AGREEMENT is dated November 5, 2018 and made among:

		
	1.
	THE ENTITIES listed in Schedule 1 (Pledgors) as pledgors (the "Pledgors" and each a "Pledgor"); and

		
	2.
	JPMORGAN CHASE BANK, N.A. as pledgee (the "Pledgee").

WHEREAS

		
	(A)
	Reference is made to the credit agreement, dated as of November 5, 2018, among, inter alia, Frank's International C.V., Frank's International, LLC and Blackhawk Group Holdings, LLC as Borrowers, the other Pledgors as Loan Parties, the other Loan Parties from time to time party thereto, the Lenders from time to time party thereto and the Pledgee as Administrative Agent and Issuing Bank (each as defined therein) (the "Credit Agreement").

		
	(B)
	Each Loan Party, including each Pledgor, has or will have monetary payment obligations to the Secured Parties under or in connection with the Credit Agreement.

		
	(C)
	To enable the Pledgee to hold security governed by the laws of the Netherlands for the benefit of the Secured Parties, each Loan Party, including each Pledgor, has undertaken or will undertake to pay to the Pledgee, acting in its own name and not as representative of or trustee for the Secured Parties, amounts equal to the amounts due in respect of the Corresponding Liabilities from time to time.

		
	(D)
	Each Pledgor wishes to create a pledge over its Collateral in favour of the Pledgee to secure payment of the Parallel Liability.

		
	(E)
	The Pledgee enters into this Agreement as Administrative Agent under the Credit Agreement and for the benefit of the Secured Parties, but not as representative of or trustee for the Secured Parties.

IT IS AGREED as follows

		
	1
	DEFINITIONS AND INTERPRETATION

		
	1.1
	Definitions Credit Agreement

Unless otherwise defined in this Agreement, capitalised terms and expressions defined in the Credit Agreement have the same meanings when used in this Agreement.
		
	1.2
	Definitions

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1

In this Agreement: 
	
		
	"Administrative Agent"
	has the meaning given to that term in the Credit Agreement. 

	"Agreement"
	means this Dutch Pledge Agreement.

	"Bank Account"
	means: 
a.    any bank account held by a Pledgor and listed in 
Schedule 3 (Receivables) as a "Bank Account" under 
the heading "Banks"; and 
b.    any other present and future bank account held by a 
Pledgor with a Bank, 
in each case excluding accounts in which securities are held and Excluded Bank Accounts.

	"Bank Consent Letter"
	means a bank consent letter substantially in the form of Schedule 5 (Bank Consent Letter), or any other form agreed between the Pledgee and the relevant Pledgor.

	"Bank Receivables"
	means all present and future rights of a Pledgor against a Bank which are or may at any time be reflected in the balance of any Bank Account of that Pledgor with that Bank.

	"Bank"
	means: 
c.    any person listed in Schedule 3 (Receivables) as a 
"Bank"; and
d.    any other bank with which a Pledgor opens or 
maintains a bank account in the Netherlands.

	"Business Day"
	has the meaning given to that term in the Credit Agreement.

	"Clause"
	means a clause in this Agreement.

	"Collateral"
	means any or all of: 
a.    the Movables; and
b.    the Receivables,
including dependent rights and ancillary rights and all other
rights attached thereto.

	"Corresponding Liabilities"
	has the meaning given to that term in the Credit Agreement.

	"Credit Agreement"
	has the meaning given to this term in the recitals to this Agreement. 

	"Enforcement Event"
	means an Event of Default which is continuing and has resulted in a default as referred to in section 3:248 NCC with respect to the Secured Obligations.

	"Event of Default"
	has the meaning given to that term in the Credit Agreement.

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	"Excluded Bank Accounts"
	means (i) any Deposit Accounts used solely for trust, payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party or any of its Subsidiaries, (ii) zero balance accounts, (iii) trust accounts, or (iv) the Excluded Deposit Accounts and any bank account with respect to which the Administrative Agent has confirmed in writing that it qualifies as an Excluded Deposit Account (as defined in the Credit Agreement).

	"Excluded Deposit Accounts"
	any bank account listed in Schedule 3 (Receivables) as an "Excluded Deposit Account", to be agreed between the Pledgors and the Pledgee in accordance with (iv) of the definition of Excluded Deposit Account in the Credit Agreement. 

	"Excluded Letter of Credit Rights"
	Letter of Credit Rights the value of which, in relation to each individual letter of credit, does not exceed USD 250.000 (two hundred fifty thousand United States Dollars) or its equivalent in euro, provided that the total value of Letter of Credit Rights of the Pledgors jointly does not exceed in aggregate at any time USD 500.000 (five hundred thousand United States Dollars) or its equivalent in euro.

	'Excluded Tort Claims"
	all present and future rights of a Pledgor against any debtor 
under or in connection with a tort claim (vordering uit 
onrechtmatige daad) which claim has a value 
which does not exceed USD 500.000 (five hundred 
thousand United States Dollars) or its equivalent in euro, 
provided the total value of all tort claims (other than the 
claims under (i) of this definition) does not exceed in aggregate at any time USD 750.000 (seven hundred fifty thousand Unites States Dollar).

	"Excluded Receivables"
	means (a) any present or future rights of a Pledgor against any debtor under or in connection with any agreement, lease, permit or license agreement, in each case, to the extent that and for so long as the creation of a pledge on such rights would (i) under the express terms thereof, result in a breach of the terms thereof or constitute a default thereunder, (ii) under the express terms thereof, create a right of termination in favor of any party thereunder (other than a Pledgor), (iii) would require the consent of a Governmental Authority, (iv) violate any Requirement of Law, in each case for the foregoing subclauses (i), (ii), (iii) and (iv), other than to the extent such term has been waived by the applicable party or Governmental Authority, as applicable, provided that immediately upon the ineffectiveness, lapse or termination or any such express term, such asset shall automatically cease to constitute "Excluded Receivable";  (b) Excluded Tort Claims; and (c) Excluded Letter of Credit Rights.

	"Group Company"
	means any person forming part of the Group.

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	"Group"
	has the meaning given to that term in the Credit Agreement.

	"Insurance Company"
	means any person which enters into an insurance policy with a Pledgor.

	"Insurance Policy"
	means any present and future insurance policy entered into by a Pledgor with an Insurance Company.

	"Insurance Receivables"
	means all present and future rights of a Pledgor against an Insurance Company under or in connection with an Insurance Policy.

	"Intercompany Receivables"
	means all present and future rights of a Pledgor against a Group Company.

	"Letter of Credit Rights"
	any present and future rights of a Pledgor to receive payment under a letter of credit

	"Loan Document"
	has the meaning given to that term in the Credit Agreement.

	"Loan Party"
	has the meaning given to that term in the Credit Agreement.

	"Movables"
	means all present and future movable assets, including equipment, stock and inventory, owned (whether fully or conditionally) by a Pledgor including the Movables kept at the locations listed below in Schedule 2 (Movables).

	"NCC"
	means the Netherlands Civil Code (Burgerlijk Wetboek).

	"Parallel Liability"
	has the meaning given to that term in the Credit Agreement.

	"Party"   
	means a party to this Agreement.

	"Pledge"
	means any pledge created and, to the extent applicable, purported to be created under this Agreement or any Supplemental Pledge Agreement.

	"Receivables"
	means all: 
a.     Bank Receivables;
b.     Insurance Receivables;
c.     Intercompany Receivables; and
d.     all other present and future rights of a Pledgor against any
debtor under or in connection with any legal relationship,
whether contractual or non-contractual,
in each case, other than Excluded Receivables.

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	"Relevant Date"
	any day on which:
i.     a Pledgor opens a Bank Account;
ii.    a person becomes a Group Company; and
iii.   a Pledgor enters into an Insurance Policy;
the aggregate total value of the Letter of Credit 
Rights of the Pledgors jointly exceeds USD 
500.000 (five hundred thousand United States 
Dollars) or its equivalent in euro; and 
v.     the total value of all tort claims (other than the 
claims under (i) of the definition Excluded Tort 
Claims) of the Pledgors jointly exceeds USD 
750.000 (seven hundred fifty thousand Unites 
States Dollar).

	"Schedule" 
	means a schedule to this Agreement.

	"Secured Obligations"
	means all monetary payment obligations (verbintenis tot betaling van een geldsom), whether present or future, actual or contingent owed from time to time to the Pledgee under or in connection with the Parallel Liability.

	"Secured Party"
	has the meaning given to that term in the Credit Agreement.

	"Supplemental Pledge Agreement"
	means a pledge agreement substantially in the form of Schedule 4 (Form of Supplemental Pledge Agreement), or any other form the Pledgee may deem appropriate.

1.3    Construction 
		
	a.
	This Agreement is entered into between the Pledgee on the one hand and each of the Pledgors on the other hand for efficiency purposes and shall be construed so as to constitute a separate pledge agreement between the relevant Pledgor on the one hand and the Pledgee on the other hand. 

		
	b.
	A reference to any asset, legal relationship or obligation shall, where the context so permits, be construed as a reference to any present or future asset, legal relationship or obligation.

		
	c.
	A reference to the "Pledgee" or a "Pledgor" shall be construed to include its respective successors or assigns.

		
	d.
	A reference to an agreement is a reference to such agreement as from time to time amended, restated, supplemented or otherwise modified.

		
	e.
	The words "include", "includes" and "including" shall be deemed to be followed by the phrase "without limitation" and corresponding derivative expressions.

		
	f.
	The words "dispose", "disposal" and "disposition" include the creation of a pledge, mortgage or other in rem right or interest.

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	g.
	The words used in this Agreement to describe legal concepts, although in English, refer to Netherlands legal concepts only and the interpretation of those words under the laws of any country other than the Netherlands is to be disregarded.

1.4    Dutch Security Agreement
This Agreement, any Supplemental Pledge Agreement and any Bank Consent Letter is a Dutch Security Agreement.

2    AGREEMENT AND CREATION OF PLEDGE 
2.1    Agreement to pledge Collateral 
Each Pledgor hereby agrees to pledge to the Pledgee, on the terms of this Agreement all its Collateral.
2.2    Creation of pledge over Collateral
As security for the payment when due of the Secured Obligations, each Pledgor hereby pledges to the Pledgee, where applicable and to the extent permitted by law in advance, all its Collateral. The Pledgee, where applicable and to the extent permitted by law in advance, hereby accepts such rights of pledge.
2.3    Supplemental Pledge Agreement
a.    Each Pledgor shall enter into a Supplemental Pledge Agreement: 
i.        on the last Business Day of each calendar quarter; 
		
	ii.
	at the first reasonable request of the Pledgee submitted in writing to such Pledgor; 

iii.    on each Relevant Date; and
		
	iv.
	after the occurrence of an Event of Default which is continuing, at such other intervals or times as the Pledgee in its sole discretion may deem appropriate, and notified to such Pledgor.

The above obligations are without prejudice to the Pledgee's authority under Clause 11 (Power of attorney) to execute a Supplemental Pledge Agreement itself on behalf of any Pledgor at such intervals or times as it deems appropriate.
Registration
a.    Each Pledgor shall:
		
	i.
	immediately upon signing this Agreement or any Supplemental Pledge Agreement, submit this Agreement or such Supplemental Pledge Agreement for registration with the office of the Dutch tax authorities in Rotterdam in accordance with the 1970 Registration Act (Registratiewet 1970), and provide the Pledgee with a copy of each request for Registration; and

		
	ii.
	with respect to each such request, provide the Pledgee without delay with evidence that registration has been completed.

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	b.
	The above obligations are without prejudice to the Pledgee's power by law to effectuate registration itself.

2.5    Notification - Bank Receivables
		
	a.
	Each Pledgor shall promptly upon opening a Bank Account, notify the Bank of the Pledge by means of a Bank Consent Letter and provide the Pledgee with a copy of such Bank Consent Letter. 

		
	b.
	Each Pledgor shall make reasonable endeavours to ensure that each Bank at which it opens a Bank Account gives its consent to the Pledge over the Bank Receivables owed by that Bank to the Pledgor by countersigning a Bank Consent Letter, and shall provide the Pledgee with a copy of each such duly countersigned Bank Consent Letter within 10 (ten) Business Days of opening such new Bank Account.

		
	c.
	The Pledgee hereby in advance accepts each Pledge created pursuant to any Bank Consent Letter and any stipulations made for its benefit in any Bank Consent Letter.

2.6    Parties' intent
		
	a.
	Each Pledgor confirms that the relevant Pledge is intended to extend and shall extend to the amount of the Secured Obligations from time to time notwithstanding any subsequent amendments or other modifications thereto (however fundamental) or to any Loan Document and/or variation, increase or addition of or to any facility or amount made available under any Loan Document and notwithstanding any other event that may affect the Secured Obligations:

		
	i.
	including any rescheduling of indebtedness under any facility, any accession of a party to or retirement of a party from any Loan Document, any deferral or redenomination of any amount owing under any Loan Document, any change in the purpose for which any facility or amount is made available, any addition of a new facility, any increase of the amount of a facility, or any increase in the margin, fee or commission or any other amount owing or accruing under any Loan Document; and

		
	ii.
	irrespective of whether the purpose of that amendment, restatement. supplement or modification is to carry out business acquisitions of any nature, to increase working capital, to enable distributions to be made to shareholders, to carry out restructurings, to refinance existing facilities, to refinance any other indebtedness, to make facilities available to new borrowers, or any other purpose; 

and shall likewise extend to any fees, costs and/or expenses associated with any such amendment, restatement, supplement or modification.
		
	b.
	Each Pledgor and the Pledgee confirm and agree that, to the extent the Secured Obligations are transferred to a Pledgor or any other person by way of subrogation or otherwise, it is intended that the Pledges shall not secure the Secured Obligations 

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so transferred and that such Pledgor nor any other person shall have the benefit of the Pledge or any rights of the Pledgee under this Agreement to the extent related to the Secured Obligations so transferred.
		
	c.
	Paragraph b. shall not apply if the Pledgee transfers its rights under the Parallel Liability to a successor Administrative Agent (the "New Agent") in accordance with the terms of the Loan Documents and each Pledgor and the Pledgee confirm and agree that if the Pledgee transfers its rights under the Parallel Liability to a New Agent in accordance with the terms of the Loan Documents, it is intended that, to the extent possible under the laws of the Netherlands:

		
	i.
	the New Agent will have the benefit of the Pledge and any rights of the Pledgee under this Agreement as if it were the original Pledgee;

		
	ii.
	claims of the New Agent arising after the date of such transfer and falling within the definition of Secured Obligations will be secured by the Pledge;

		
	iii.
	Collateral acquired by a Pledgor after the date of such transfer will be subject to the Pledge (and each Pledgor agrees and confirms that any Pledge created by that Pledgor in advance will be deemed to have been created also for the benefit of such New Agent); and

		
	iv.
	any power of attorney or waiver granted by a Pledgor to the Pledgee under this Agreement will be deemed to have been created also for the benefit of such New Agent and can be enforced against that Pledgor by the New Agent.

		
	d.
	It is the Parties' intention that this Agreement creates security interests over the Collateral under the laws of the Netherlands. However, if a court outside the Netherlands holds that pursuant to a rule of private international law applied by that court, the laws of any other jurisdiction apply to the creation and validity of a security interest over any of the Collateral under this Agreement, then the security interest over such Collateral is intended to be created under the laws of that other jurisdiction as well.

3    REPRESENTATIONS AND WARRANTIES
Each Pledgor represents and warrants to the Pledgee that on the date of this Agreement or as applicable the date of a Supplemental Pledge Agreement:
		
	a.
	it has title to its Collateral and full power to dispose of and encumber its Collateral;

		
	b.
	except as permitted under the Credit Agreement, its Collateral is not subject to any limited right or other encumbrance and no offer has been made or agreement 

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entered into to transfer or encumber, whether or not in advance, that Collateral and no attachment has been levied on its Collateral; 
		
	c.
	the information set out in Schedule 2 (Movables) and Schedule 3 (Receivables)  is complete and correct; and

		
	d.
	its Collateral is freely transferable and capable of being pledged with respect to Bank Receivables subject to receipt of a countersigned Bank Consent Letter to the extent such consent is required to create a pledge over those Bank Receivables.

UNDERTAKINGS
4.1    Information
At the Pledgee's first reasonable request and in such form as the Pledgee may designate, each Pledgor shall, subject to the terms of the Credit Agreement, provide all information, evidence and documents relating to its Collateral which the Pledgee deems necessary to exercise its rights under this Agreement. If requested by the Pledgee, each Pledgor shall update the information set out in Schedule 2 (Movables) and Schedule 3 (Receivables).
4.2    Duty to notify
		
	a.
	Each Pledgor shall notify the Pledgee immediately of any circumstance of which it becomes aware which could adversely affect the Pledge or the value of its Collateral, including if: 

		
	i.
	an attachment is levied on its Collateral and/or any claim is made or notice is given by any third party with respect to its Collateral; 

		
	ii.
	an application being filed for any of the Pledgors' bankruptcy, or for the granting of a suspension of payments;

		
	iii.
	any Pledgor is declared bankrupt or is granted a suspension of payments or provisional suspension of payments; or

		
	iv.
	an event analogous to any of the above occurring under the laws of any other jurisdiction.

		
	b.
	Each Pledgor shall immediately inform in writing persons such as a liquidator in bankruptcy, an administrator of a Pledgor in a (preliminary) suspension of payments or persons making an attachment, of the existence of the rights of the Pledgee pursuant to this Agreement.

4.3    Further assurances
At the Pledgee's request, each Pledgor shall, at its own expense, provide any assurances to, or for the benefit of, the Pledgee and perform all acts that the Pledgee reasonably considers necessary for the creation or protection of a Pledge or to exercise or have the 

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full benefit of its rights under or in connection with this Agreement (including the right to enforce these rights). Each Pledgor also agrees to take any and all action to defend title to its Collateral against any party and to defend the Pledge and the priority thereof against any pledge not created or purported to be created under this Agreement.
4.4    Waiver of limitations or prohibitions to pledge
Without prejudice to Clause 2.5 (Notification - Bank Receivables), each Pledgor shall use its reasonable endeavours to obtain a waiver from any debtor of receivables of any limitations or prohibitions to pledge any such receivables, to the extent the relevant legal relationship with such debtor contains such limitations or prohibitions.
4.5    Undertakings applicable to Movables
None of the Pledgors shall keep its Movables at a Material Inventory Location (as 
defined in the U.S. Pledge and Security Agreement) other than a location notified to the
Pledgee.

4.6    Undertakings applicable to securities accounts
Each Pledgor shall promptly upon opening a securities account with a bank or other financial institution in the Netherlands  procure that such account is subject to a Pledge and perform all acts that the Pledgee reasonably considers necessary for the creation or protection of a Pledge.

5.    AUTHORITY TO COLLECT AND TO REQUIRE POSSESSION
5.1    Authority to collect Receivables
		
	a.
	Each Pledgor may collect its Receivables in the ordinary course of its business, to the extent permitted under the Loan Documents and provided payments are received in a Bank Account.

		
	b.
	Upon the occurrence and during the continuance of an Event of Default, the Pledgee may notify any debtor of the Pledge and of the Pledgee's sole authority to collect the Receivables owed by that debtor, and instruct that debtor to make all further payments of Receivables into a bank account designated by the Pledgee. 

		
	c.
	Following the exercise by the Pledgee of its rights under b., the relevant Pledgors may no longer collect the relevant Receivables and the Pledgee shall be solely authorised to collect such Receivables. The Pledgee's authority to collect Receivables includes the right or authority to demand, by legal proceedings or otherwise, payment by the debtor of that Receivable and the Pledgee is hereby authorised to enter into compromises, settlements and other agreements with that debtor, to grant a discharge in respect of a Receivable and to exercise all other rights of a Pledgor in connection with such Receivables (including causing any or all of them to be due and payable). Each Pledgor hereby undertakes not to take any of the actions described in the previous sentence following the exercise by the Pledgee of its rights under b.i. or b.ii.

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	d.
	Each Pledgor hereby waives in advance any right it may have under section 3:246(4) NCC.

5.2    Authority to require possession of Movables
Upon the occurrence and during the continuance of an Event of Default:
		
	a.
	the Pledgee shall have the right to enter any location where Movables are located during business hours and to require that the Movables be brought into its possession or the possession of a third party appointed by it for this purpose; and

		
	b.
	the Pledgee is authorised (but not obliged) to discharge any outstanding claims of any supplier of Movables to a Pledgor, and to enter into compromises, settlements and other agreements with such supplier on behalf and in the name of that Pledgor. Unless with the prior approval of the Pledgee, each Pledgor hereby undertakes not to take any of the actions described in the previous sentence (other than discharging any outstanding claims of any supplier in full) following the occurrence of an Event of Default which is continuing. Each Pledgor and the Pledgee hereby agree that in case of discharge of the claim of a supplier as a result of a payment by the Pledgee, the Pledgee will by operation of law acquire the claim of such supplier vis-à-vis the relevant Pledgor by way of subrogation (as referred to in section 6:150(d) NCC), and that the Pledge will also secure the claim acquired from the supplier as a result of subrogation.

6    ENFORCEMENT
6.1    Enforcement Event
		
	a.
	Upon the occurrence of an Enforcement Event, the Pledgee may:

		
	i.
	sell any or all of the Collateral in accordance with applicable law and take recourse against the proceeds of sale;

		
	ii.
	take recourse against the proceeds of Receivables collected pursuant to paragraph c. of Clause 5.1 (Authority to collect Receivables); and

		
	iii.
	exercise any other right, remedy, power or discretion provided by law or this Agreement.

		
	b.
	Each Pledgor waives its right to file a request with the court under section 3:251(1) NCC to sell the Collateral in another manner than as provided for in section 3:250 NCC.

		
	c.
	The Pledgee shall not be obliged to notify any Pledgor of the sale or of how, where or when it will be or was conducted (as provided for in section 3:249(1) NCC and 3:252 NCC).

		
	d.
	The Pledgee is not obliged to first enforce any other security right created under or in connection with the Credit Agreement.

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	e.
	Each Pledgor hereby irrevocably and unconditionally waives any right it may have or acquire under sections 3:233, 3:234, 6:139 and 6:154 NCC.

7    APPLICATION OF PROCEEDS
The Pledgee shall distribute any amount irrevocably received by it pursuant to enforcement of one or more of the Pledges among the Secured Parties in accordance with the Credit Agreement, subject to mandatory provisions of Netherlands law.

8    CANCELLATION
The Pledgee is entitled to cancel (opzeggen) any Pledge under this Agreement in whole or in part by notice in writing to the relevant Pledgor as provided for in section 3:81(2)(d) NCC.

9    LIABILITY
The Pledgee is not liable to any Pledgor for any loss or damage arising from any exercise of, or failure to exercise, its rights under this Agreement, except for gross negligence or wilful misconduct of the Pledgee.

10    COSTS
The Pledgee may charge all costs, losses, claims and expenses of whatever nature (including legal fees) incurred by it in connection with this Agreement in accordance with the Credit Agreement.

11    POWER OF ATTORNEY 
		
	a.
	Each Pledgor gives the Pledgee an irrevocable power of attorney, with the right of substitution, to perform all acts, including acts of disposition, on behalf of that Pledgor which in the sole opinion of the Pledgee are necessary in order to:

		
	i.
	create any Pledge (including by executing a Supplemental Pledge Agreement as provided for in Clause 2.3 (Supplemental Pledge Agreement)); and/or 

		
	ii.
	to have the full benefit of any Pledge (including performing any of that Pledgor's obligations under this Agreement and exercising any of that Pledgor's rights to and in connection with its Collateral). 

		
	b.
	In acting on behalf of a Pledgor pursuant to the power of attorney, the Pledgee may act as counterparty of that Pledgor even in the event of a conflict of interest. 

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	c.
	The Pledgee shall only use the power of attorney described in paragraph a.ii. of this Article, if the relevant Pledgor fails to comply with any of its obligations under or in connection with this Agreement or an Event of Default has occurred which is continuing and in any event after notification thereof in writing by the Pledgee to the relevant Pledgor.

12    MISCELLANEOUS
12.1    No rescission, nullification or suspension
To the extent permitted by law, each Pledgor hereby waives any right it may have at any time:
		
	a.
	under sections 6:228 or 6:265 NCC or any other ground (under any applicable law) to rescind or nullify this Agreement or to demand its rescission or nullification in legal proceedings; and

		
	b.
	under sections 6:52, 6:262 or 6:263 NCC or any other ground (under any applicable law) to suspend the performance of any obligation under or in connection with this Agreement.

12.2    Transfer of rights and obligations
		
	a.
	A Pledgor may not transfer any of its rights and/or obligations under or in connection with this Agreement or its contractual relationship under this Agreement without the Pledgee's prior written consent.

		
	b.
	The Pledgee may transfer its contractual relationship under this Agreement in connection with a transfer of its rights under the Parallel Liability to a New Agent in accordance with the Credit Agreement. Each Pledgor hereby, in advance, irrevocably grants its co-operation to such transfer of contractual relationship. 

		
	c.
	The Pledgee is entitled to provide any transferee or proposed transferee with any information concerning any Pledgor and/or the Collateral in accordance with the Credit Agreement.

		
	d.
	Upon a transfer by the Pledgee of any rights in respect of the Parallel Liability, the transferee will become entitled to the Pledge. 

12.3    Notice
Any notice or other communication under or in connection with this Agreement must be made in accordance with the Credit Agreement.
12.4    Records and calculations of the Pledgee
The books and records maintained by the Pledgee and any calculation or determination by the Pledgee of the existence and the amount of the Secured Obligations are prima facie evidence within the meaning of section 151 Netherlands Code of Civil Procedure of the existence and the amounts of the Secured Obligations and other matters to which they relate.

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12.5    Partial invalidity
If, at any time, any provision of this Agreement is or becomes illegal, invalid or unenforceable with respect to any Party in any respect under any law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions nor the legality, validity or enforceability of such provision with respect to any other Party, nor the legality, validity or enforceability of the remaining provisions with respect to that Party or any other Party under the law of any other jurisdiction will in any way be affected or impaired.
12.6    Execution and amendments
		
	a.
	This Agreement shall become binding on a Pledgor as soon as it has been signed by that Pledgor and the Pledgee. The obligations of that Pledgor under this Agreement shall not be limited or affected in any way by the absence of the signature of any other Pledgor.

		
	b.
	This Agreement and any Supplemental Pledge Agreement may be signed in any number of counterparts.

		
	c.
	This Agreement may only be amended by a written agreement.

12.7    No implied waiver and no forfeiture
		
	a.
	Any waiver under this Agreement must be made by giving written notice to that effect.

		
	b.
	Where the Pledgee does not exercise any right under or in connection with this Agreement (which includes the granting by the Pledgee to a Pledgor of an extension of time in which to perform its obligations under any of these provisions), this will not constitute a waiver or forfeiture of that right.

		
	c.
	The rights of the Pledgee under this Agreement supplement any other right that the Pledgee may have under Netherlands law or any other law.

12.8    No fiduciary duty
This Agreement does not create any duty of care or other fiduciary duty under any law of the Pledgee vis-à-vis any Secured Party and does not create any rights for such Secured Party with respect to the Pledgee, and no Secured Party or any other third party can derive any rights from this Agreement vis-à-vis the Pledgee.

13    GOVERNING LAW AND JURISDICTION
		
	a.
	This Agreement (including the submission to jurisdiction pursuant to paragraph c. of this Clause) and the Pledge is governed by the laws of the Netherlands. 

		
	b.
	If a Pledgor is represented by an attorney in connection with the signing and/or execution of this Agreement or any other agreement, deed or document referred to in this Agreement or made pursuant to this Agreement, it is hereby acknowledged and accepted by each other Party that the existence and extent of the attorney's authority and the effects of the attorney's exercise or purported exercise of his or her authority shall be governed by the laws of the Netherlands.

63004044 M 25178886 / 23
14

		
	c.
	The courts of Amsterdam, the Netherlands have exclusive jurisdiction to settle any dispute arising from or in connection with this Agreement or any Supplemental Pledge Agreement (including a dispute regarding the existence, validity or termination of this Agreement or any Supplemental Pledge Agreement). As a result, the Pledgee shall not be prevented from taking proceedings in any other courts with jurisdiction. To the extent allowed by law, the Pledgee may take concurrent proceedings in any number of jurisdictions.

This Agreement has been entered into on the date stated at the beginning of this Agreement.

[signature page follows]

63004044 M 25178886 / 23
15

SIGNATURES

THE PLEDGORS

Frank's International Management B.V., acting as the managing partner for and on behalf of Frank's International C.V.

/s/ Kyle McClure 
By:  Kyle McClure
Title:  Authorised signatory
    
Frank's International LP B.V.

/s/ Kyle McClure 
By:  Kyle McClure
Title:  Authorised signatory

Frank's International N.V.

/s/ Kyle McClure 
By:  Kyle McClure
Title:  Authorised signatory

Frank's International Partners B.V.

/s/ Kyle McClure 
By:  Kyle McClure
Title:  Authorised signatory

63004044 M 25178886 / 23
16

Frank's International Management B.V.

/s/ Kyle McClure 
By: Kyle McClure
Title:  Authorised signatory

63004044 M 25178886 / 23
17

THE PLEDGEE

JPMorgan Chase Bank, N.A.

/s/ Jorge Diaz Granados 
By:  Jorge Diaz Granados
Title:  Authorized Officer

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18

SCHEDULE 1
PLEDGORS

	
		
	Name of Pledgor
	Trade register number (or equivalent, if any)

	Frank's International C.V.
	58482067

	Frank's International LP B.V.
	50802070

	Frank's International Partners B.V.
	70213631

	Frank's International N.V.
	34241787

	Frank's International Management B.V.
	50802275

63004044 M 25178886 / 23
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SCHEDULE 2
MOVABLES

Locations of Movables in the Netherlands
	
				
	Pledgor
	Location(s)
	[Landlord]/[Custodian]
	[Lease]/[Warehouse]

	Frank's International C.V.
	Location(s):
Mastenmakersweg 1, 1786 PB Den Helder, the Netherlands
	Location owned by: 
Frank's International LP B.V.
	 

	Frank's International LP B.V.
	Location(s):
Mastenmakersweg 1, 1786 PB Den Helder, the Netherlands
	Location owned by: 
Frank's International LP B.V.
	 

	Frank's International Partners B.V.
	Location(s):
Mastenmakersweg 1, 1786 PB Den Helder, the Netherlands
	Location owned by: 
Frank's International LP B.V.
	 

	Frank's International N.V.
	Location(s):
Mastenmakersweg 1, 1786 PB Den Helder, the Netherlands
	Location owned by: 
Frank's International LP B.V.
	 

	Frank's International Management B.V.
	Location(s):
Mastenmakersweg 1, 1786 PB Den Helder, the Netherlands
	Location owned by: 
Frank's International LP B.V.
	 

63004044 M 25178886 / 23
20

SCHEDULE 3
RECEIVABLES

Debtors
	
			
	Banks

	Name of Pledgor/account holder
	Bank
	Bank Account

	Frank's International C.V.
	Name: [●]
Address: [●]
Fax number: [●]
Attn: [●]
	Bank Account(s): 

None at the date of this Agreement

	Frank's International LP B.V.
	Name: [●]
Address: [●]
Fax number: [●]
Attn: [●]
	Bank Account(s): 

None at the date of this Agreement

	Frank's International Partners B.V.
	Name: [●]
Address: [●]
Fax number: [●]
Attn: [●]
	Bank Account(s): 

None at the date of this Agreement

	Frank's International N.V.
	Name: [●]
Address: [●]
Fax number: [●]
Attn: [●]
	Bank Account(s): 

None at the date of this Agreement

	Frank's International Management B.V.
	Name: [●]
Address: [●]
Fax number: [●]
Attn: [●]
	Bank Account(s): 

None at the date of this Agreement

63004044 M 25178886 / 23
21

	
			
	Excluded Deposit Account

	Name of Pledgor/account holder
	Bank
	Bank Account

	Frank's International C.V.
	Name: [●]
Address: [●]
Fax number: [●]
Attn: [●]
	Bank Account(s): 

None at the date of this Agreement

	Frank's International LP B.V.
	Name: [●]
Address: [●]
Fax number: [●]
Attn: [●]
	Bank Account(s): 

None at the date of this Agreement

	Frank's International Partners B.V.
	Name: [●]
Address: [●]
Fax number: [●]
Attn: [●]
	Bank Account(s): 

None at the date of this Agreement

	Frank's International N.V.
	Name: [●]
Address: [●]
Fax number: [●]
Attn: [●]
	Bank Account(s): 

None at the date of this Agreement

	Frank's International Management B.V.
	Name: [●]
Address: [●]
Fax number: [●]
Attn: [●]
	Bank Account(s): 

None at the date of this Agreement

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22

SCHEDULE 4
FORM OF SUPPLEMENTAL PLEDGE AGREEMENT

To        : [Pledgee]
Address    : [●]
Fax number    : [●]
Attn.        : [●]

Date: [●]

Ladies and Gentlemen, 

Reference is made to the Dutch Pledge Agreement dated [●] between yourself as Pledgee (as defined in that Agreement) and the undersigned as Pledgor (the "Agreement").

		
	1.
	The provisions of the Agreement apply mutatis mutandis to this Supplemental Pledge Agreement and are included in this Supplemental Pledge Agreement by means of cross-reference. Capitalised terms in this Supplemental Pledge Agreement have the meanings ascribed to them in the Agreement.

		
	2.
	As security for the payment when due of the Secured Obligations, we hereby pledge to the Pledgee, where applicable and to the extent permitted by law in advance, all our Collateral that has not previously been validly pledged under or pursuant to the Agreement or any Supplemental Pledge Agreement in accordance with the terms of the Agreement.

		
	3.
	We hereby repeat the representations and warranties set out in Clause 3 (Representations and Warranties) of the Agreement with respect to the Collateral purported to be pledged under this Supplemental Pledge Agreement, in each case by reference to the facts and circumstances now existing. 

		
	4.
	We shall submit this Supplemental Pledge Agreement for registration in accordance with Clause 2.4 (Registration) of the Agreement.

		
	5.
	This Supplemental Pledge Agreement shall be governed by the laws of the Netherlands.

63004044 M 25178886 / 23
23

Yours faithfully,

[Pledgor]

		
	______________
	_______________

		
	By:
	By:

		
	Title: Authorised Signatory 
	Title: Authorised Signatory

63004044 M 25178886 / 23
24

SCHEDULE 5
FORM OF BANK CONSENT LETTER

[Bank] (''Bank'')
Address    :    [●]
Fax number    :    [●]
Email address    :     [●]
Attn.        :    [●]*
CC        : [Pledgee]

Date: [●]

Ladies and Gentlemen:

With this letter we notify you of the right of pledge (the "Pledge") that we [will create]/[created] in favour of JPMorgan Chase Bank, N.A. (the "Pledgee") over our present and future rights against you in connection with the bank account(s) with number(s) [●] maintained with you and any other present and future accounts maintained with you (the "Bank Receivables"). 

The Pledge [will be created] / [was created] pursuant to a Dutch Pledge Agreement dated [●] between [among others] the Pledgee and the undersigned as pledgor (the "Agreement").

We understand that pursuant to the general banking conditions (Algemene Bankvoorwaarden) you have a higher ranking pledge on the Bank Receivables as well as a right of set-off.

We ask you to kindly countersign this letter to:

acknowledge and consent to the Pledge;
undertake for the benefit of the Pledgee, until the termination of the Pledge in accordance with the terms thereof, not to exercise your right of pledge or right of set-off other than in relation to account charges or fees in connection with the maintenance or administration of the Bank Receivables or the execution of payment orders or the performance of other instructions with respect to the Bank Receivables;

and return the countersigned letter to us.

Under the Agreement, we will remain authorised to dispose over the bank account(s) and to collect all other receivables from you until the Pledgee or we notify you that this authorisation has terminated, at which time the Pledgee or we will instruct you as to the bank account into which further payments are to be made. By countersigning this letter, you undertake for the benefit of the Pledgee that upon receipt of such notice, you will block the bank account(s) where the Bank 

63004044 M 25178886 / 23
25

Receivables are administrated, including any future credit entries, and will comply with written notices or instructions with respect to the Bank Receivables received from the Pledgee, provided always that you will have the right of set-off and/or to collect the Bank Receivables on the basis of the higher ranking right of pledge in respect of the account, charges and/or fees referred to under b. above prior to any payment being made to the Pledgee.

To the extent required to create a pledge over the Bank Receivables this letter shall serve as a supplemental pledge agreement, therefore we hereby pledge to the Pledgee as security for the payment when due of the Secured Obligations (as defined in the Agreement), where applicable in advance, all our Bank Receivables, in accordance with the terms of the Agreement.

This letter is governed by and construed in accordance with Dutch law. By countersigning this letter you agree that the courts in Amsterdam, the Netherlands, have exclusive jurisdiction to settle any dispute arising out of or in connection with this letter.

Thank you for your cooperation.

Yours faithfully,

[Pledgor]

		
	______________
	_______________

		
	By:
	By:

		
	Title:
	Title:

[Bank] 

		
	______________
	_______________

		
	By:
	By:

		
	Title: Authorised signatory
	Title: Authorised signatory

		
	Date:
	Date:

 

63004044 M 25178886 / 23
26Exhibit

EXHIBIT 10.19
INDEMNIFICATION AGREEMENT 
This Indemnification Agreement (this “Agreement”) dated the 15th day of January, 2019, by and between Frank’s International N.V., a public limited liability company organized and existing under the laws of The Netherlands (the “Company”), and Melanie M. Trent, an individual (“Indemnitee”). 
RECITALS 
A.Competent and experienced persons may be reluctant to serve or to continue to serve as directors, officers or in other capacities unless they are provided with adequate protection through insurance or indemnification (or both) against claims against them arising out of their service and activities on behalf of the corporation. 
B.    The current uncertainties relating to the availability of adequate insurance have increased the difficulty of attracting and retaining competent and experienced persons to serve in such capacity. 
C.    The supervisory board of the Company (the “Supervisory Board”) has determined that the continuation of present trends in litigation will make it more difficult to attract and retain competent and experienced persons to serve as directors of the Company, that this situation is detrimental to the best interests of the Company’s stockholders and that the Company should act to assure such persons that there will be increased certainty of adequate protection in the future. 
D.    As a supplement to and in the furtherance of the Company’s Articles of Association, as amended (the “Articles”), it is reasonable, prudent, desirable and necessary for the Company contractually to obligate itself to indemnify, and to pay in advance expenses on behalf of, directors and officers to the fullest extent permitted by Applicable Law, consistent with the Company’s Liability Insurance, so that they will serve or continue to serve the Company free from concern that they will not be so indemnified and that their expenses will not be so paid in advance; 
E.    This Agreement is not a substitute for, nor is it intended to diminish or abrogate any rights of Indemnitee under, Liability Insurance, the Articles, any resolutions adopted pursuant thereto (including any contractual rights of Indemnitee that may exist) or otherwise; 
F.    Indemnitee is a director or officer of the Company and his or her willingness to continue to serve in such capacity is predicated, in substantial part, upon the Company’s willingness to indemnify him or her to the fullest extent permitted by Applicable Law, consistent with the Company’s Liability Insurance, and upon the other undertakings set forth in this Agreement. 
AGREEMENT 
NOW, THEREFORE, in consideration of the premises and covenants contained herein, the Company and Indemnitee hereby agree as follows: 

ARTICLE 1
CERTAIN DEFINITIONS 
Capitalized terms used but not otherwise defined in this Agreement have the meanings set forth below: 
“Applicable Law” means the laws of The Netherlands. 
“Claims” means any and all liabilities, claims, judgments, fines (including excise taxes and penalties assessed with respect to employee benefit plans), penalties and all interest, assessments and other charges paid or payable in connection with or in respect of any of the foregoing. 
“Corporate Status” means the status of a person who is or was a director, officer, employee, partner, member, manager, trustee, fiduciary or agent of the Company or of any other Enterprise which such person is or was serving at the request of the Company. In addition to any service at the actual request of the Company, Indemnitee will be deemed, for purposes of this Agreement, to be serving or to have served at the request of the Company as a director, officer, employee, partner, member, manager, trustee, fiduciary or agent of another Enterprise if Indemnitee is or was serving as a director, officer, employee, partner, member, manager, fiduciary, trustee or agent of such Enterprise and (i) such Enterprise is or at the time of such service was a Controlled Affiliate, (ii) such Enterprise is or at the time of such service was an employee benefit plan (or related trust) sponsored or maintained by the Company or a Controlled Affiliate or (iii) the Company or a Controlled Affiliate caused Indemnitee to be nominated, elected, appointed, designated, employed, engaged or selected to serve in such capacity on its behalf. 
“Controlled Affiliate” means any corporation, limited liability company, partnership, joint venture, trust or other Enterprise, whether or not for profit, that is directly or indirectly controlled by the Company. For purposes of this definition, the term “control” means the possession, directly or indirectly, of the power to direct, or cause the direction of, the management or policies of an Enterprise, whether through the ownership of voting securities, through other voting rights, by contract or otherwise; provided, however, that direct or indirect beneficial ownership of capital stock or other interests in an Enterprise entitling the holder to cast 10% or more of the total number of votes generally entitled to be cast in the election of directors (or persons performing comparable functions) of such Enterprise will be deemed to constitute “control” for purposes of this definition. 
“Disinterested Director” means a director of the Company who is not and was not a party to the Legal Action, decision or Enterprise action in respect of which indemnification is sought by Indemnitee. 
“Enterprise” means the Company and any other corporation, partnership, limited liability company, joint venture, employee benefit plan, trust or other entity or other enterprise of which Indemnitee is or was serving at the request of the Company in a Corporate Status. 
“Expenses” means all reasonable expenses, including attorney’s fees and litigation costs, paid or incurred in connection with a Legal Action, or in connection with seeking indemnification under this Agreement. Expenses will also include Expenses reasonably paid or incurred in 

2

connection with any appeal resulting from any Legal Action. Notwithstanding the foregoing, the Company’s obligation to pay “Expenses” is limited to Expenses incurred after written notice is given to the Company of a Legal Action. When a Legal Action subject to the indemnity obligation in this Agreement presents both matters that are covered by the indemnity obligation and matters that are not, Expenses shall refer solely to Expenses incurred for the defense of those parts of the Legal Action that are covered by the indemnity obligation in this Agreement 
“Independent Counsel” means an attorney or firm of attorneys that is experienced in matters of corporation law in the appropriate jurisdictions and neither currently is, nor in the past five (5) years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party (other than with respect to matters concerning the Indemnitee under this Agreement and/or the indemnification provisions of the Articles, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Legal Action giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” does not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 
“Legal Action” means any expected, threatened, pending or completed action, investigation, or other proceeding, whether civil, criminal or administrative, and in each case commenced after the date of this Agreement, in which Indemnitee was, is or will be involved as a party or otherwise, by reason of or relating to Indemnitee’s Corporate Status and by reason of or relating to either (i) any action or alleged action taken by Indemnitee (or failure or alleged failure to act) or of any action or alleged action (or failure or alleged failure to act) on Indemnitee’s part, while acting in his or her Corporate Status or (ii) the fact that Indemnitee is or was serving at the request of the Company as director, officer, employee, partner, member, manager, trustee, fiduciary or agent of another Enterprise, in each case whether or not serving in such capacity at the time any Loss or Expense is paid or incurred for which indemnification or advancement of Expenses can be provided under this Agreement, except one initiated by Indemnitee to enforce his or her rights under this Agreement. 
“Liability Insurance” means such director and officer liability insurance (or the equivalent), which the Company purchases for the benefit of its directors and officers. 
“Management Board” means the management board of the Company. 
“Person” shall be construed broadly and shall include, without limitation, an individual, a partnership, stichting, commanditaire vennootschap, besloten vennootschap, a limited liability company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 
References to “serving at the request of the Company” include any service as a director, officer, employee or agent of the Company which imposes duties on, or involves services by, such director, officer, employee or agent with respect to any employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner he or she reasonably believed to be in the best interests of the participants and beneficiaries of an employee benefit plan will be 

3

deemed to have acted in a manner “not opposed to the best interests of the Company” as referred to under applicable law or in this Agreement. 
ARTICLE 2
SERVICES TO THE COMPANY 
2.1    Services to the Company.  Indemnitee agrees to serve as an officer or as a director on the Company’s Supervisory Board. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law), in which event the Company will have no obligation under this Agreement to continue Indemnitee in such position. This Agreement will not be construed as giving Indemnitee any right to be retained as an officer, as a director on the Company’s Supervisory Board or in any other position with the Company (or any other Enterprise). 
ARTICLE 3
INDEMNIFICATION 
3.1    Company Indemnification.  Except as otherwise provided in this Article 3, if Indemnitee was, is or becomes a party to, or was or is threatened to be made a party to, or was or is otherwise involved in, any Legal Action, the Company will indemnify and hold harmless Indemnitee to the fullest extent permitted by the Articles and Applicable Law, as the same exists or may hereafter be amended, interpreted or replaced, against any and all Expenses, Claims or amounts paid in settlement, and any federal, state, local or foreign taxes imposed as a result of the actual or deemed receipt of any payments under this Agreement, that are paid or incurred by Indemnitee in connection with such Legal Action.
3.2    Mandatory Indemnification if Indemnitee is Wholly or Partly Successful.  Notwithstanding any other provision of this Agreement (other than Section 6.9), to the extent that Indemnitee has been successful, on the merits or otherwise, in defense of any Legal Action or any part thereof, the Company will indemnify Indemnitee against all Expenses that are paid or incurred by Indemnitee in connection therewith. If Indemnitee is not wholly successful in such Legal Action, but is successful, on the merits or otherwise, as to one or more but fewer than all Claims, issues or matters in such Legal Action, the Company will indemnify and hold harmless Indemnitee against all Expenses paid or incurred by Indemnitee in connection with each successfully resolved Claim, issue or matter on which Indemnitee was successful. For purposes of this Section 3.2, the termination of any Legal Action, or any Claim, issue or matter in such Legal Action, by dismissal with or without prejudice will be deemed to be a successful result as to such Legal Action, Claim, issue or matter. 
3.3    Indemnification for Expenses of a Witness.  Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of his or her Corporate Status, a witness in any Legal Action to which Indemnitee is not a party, the Company will advance all reasonable expenses and indemnify Indemnitee against all Expenses paid or incurred by Indemnitee on his or her behalf in connection therewith. 

4

3.4    Exclusions.  Notwithstanding any other provision of this Agreement, the Company will not be obligated under this Agreement to provide indemnification in connection with the following: 
(a)    Any Legal Action (or part of any Legal Action) initiated or brought voluntarily by Indemnitee against the Company or its directors, officers, employees or other indemnities, unless the Management Board has authorized or consented to the initiation of the Legal Action (or such part of any Legal Action) with approval of the Supervisory Board. 
(b)    An accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor statute or for any Claims to the extent that they represent the gain in fact of any profit or advantage to which the Indemnitee is not legally entitled. 
(c)    If a court of competent jurisdiction has made a final and binding judgment that the act or omission of the Indemnitee can be characterized as a result of willful misconduct (opzet), willful recklessness (bewuste roekeloosheid) or serious culpability (ernstig verwijt) under Applicable Law.
(d)    For any Legal Action arising out of, based upon or attributable to the committing in fact by the Indemnitee of any deliberate criminal or deliberate fraudulent act. 
ARTICLE 4
ADVANCEMENT OF EXPENSES 
4.1    Expense Advances.  Except as set forth in Section 4.2, the Company will, if requested by Indemnitee, advance, to the fullest extent permitted by Applicable Law, to Indemnitee (hereinafter an “Expense Advance”) any and all Expenses paid or incurred by Indemnitee in connection with any Legal Action (whether prior to or after its final disposition). Indemnitee’s right to each Expense Advance will be subject to the requirements of the next sentence but not otherwise subject to the satisfaction of any standard of conduct and will be made without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement, or under provisions of the Articles or otherwise. Each Expense Advance will be unsecured and interest free and will be made by the Company upon a resolution of the Supervisory Board; provided, however, that an Expense Advance will be made only upon delivery to the Company of an undertaking (hereinafter an “Undertaking”), in a form satisfactory to the Company, by or on behalf of Indemnitee, to immediately repay such Expense Advance if it is ultimately determined, by final and binding judgment by a court or arbitrator, as applicable, from which there is no further right to appeal, that Indemnitee is not entitled to be indemnified for such Expenses under the Articles or Applicable Law. An Expense eligible for an Expense Advance will include any and all reasonable Expenses incurred pursuing an action to enforce the right of advancement provided for in this Article 4. 
4.2    Exclusions.  Indemnitee will not be entitled to any Expense Advance in connection with any of the matters for which indemnity is excluded pursuant to Section 3.4. 

5

4.3    Timing.  An Expense Advance pursuant to Section 4.1 will be made within fifteen business days after the resolution of the Management Board is approved by the Supervisory Board with respect to such Expense Advance; provided, however, that no such Expense Advance will be made by the Company prior to receipt by the Company of the Undertaking. 
ARTICLE 5
CONTRIBUTION IN THE EVENT OF JOINT LIABILITY 
5.1    Contribution by Company.  To the fullest extent permitted by Applicable Law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, will contribute to the amount of Expenses and Claims incurred or paid by Indemnitee in connection with any Legal Action in proportion to the relative benefits received by the Company and all officers, directors and employees of the Company other than Indemnitee who are jointly liable with Indemnitee, on the one hand, and Indemnitee, on the other hand, from the transaction from which such Legal Action arose; provided, however, that the proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further adjusted by reference to the relative fault of the Company and all officers, directors and employees of the Company other than Indemnitee who are jointly liable with Indemnitee, on the one hand, and Indemnitee, on the other hand, in connection with the events that resulted in such Expenses and Claims, as well as any other equitable considerations which applicable law may require to be considered. The relative fault of the Company and all officers, directors and employees of the Company other than Indemnitee who are jointly liable with Indemnitee, on the one hand, and Indemnitee, on the other hand, will be determined by reference to, among other things, the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary, and the degree to which their conduct was active or passive. 
5.2    Indemnification for Contribution Claims by Others.  To the fullest extent permitted by Applicable Law, the indemnification herein will include claims of contribution which may be brought by other officers, directors or employees of the Company who may be jointly liable with Indemnitee for any Loss or Expense arising from a Legal Action. 
ARTICLE 6
PROCEDURES AND PRESUMPTIONS FOR THE  
DETERMINATION OF ENTITLEMENT TO INDEMNIFICATION 
6.1    Notification of Claims; Request for Indemnification.  Indemnitee agrees to notify promptly the Company in writing of any claim made against Indemnitee for which indemnification will or could be sought under this Agreement; provided, however, that a delay in giving such notice will not deprive Indemnitee of any right to be indemnified under this Agreement unless, and then only to the extent that, the Company did not otherwise learn of the Legal Action and such delay is materially prejudicial to the Company’s ability to defend or to obtain coverage under the Company’s Liability Insurance for such Legal Action; and, provided, further, that notice will be deemed to have been given without any action on the part of Indemnitee in the event the Company is a party to the same Legal Action. The omission to notify the Company will not relieve the Company from any 

6

liability for indemnification which it may have to Indemnitee otherwise than under this Agreement. Indemnitee may deliver to the Company a written request to have the Company indemnify and hold harmless Indemnitee in accordance with this Agreement. Subject to Section 6.9, such request may be delivered from time to time and at such time(s) as Indemnitee deems appropriate in his or her sole discretion. Following such a written request for indemnification, Indemnitee’s entitlement to indemnification shall be determined according to Section 6.2. The Secretary of the Company will, promptly upon receipt of such a request for indemnification, advise the Management Board in writing that Indemnitee has requested indemnification. The Company will be entitled to participate in any Legal Action at its own expense. 
6.2    Determination of Right to Indemnification.  Upon written request by Indemnitee for indemnification pursuant to Section 6.1 hereof with respect to any Legal Action, a determination with respect to Indemnitee’s entitlement thereto will be made by one of the following, at the election of the Company: (1) so long as there are Disinterested Directors with respect to such Legal Action, a majority vote of the Disinterested Directors, even though less than a quorum of the Supervisory Board, (2) so long as there are Disinterested Directors with respect to such Legal Action, a committee of such Disinterested Directors designated by a majority vote of such Disinterested Directors, even though less than a quorum of the Supervisory Board or (3) Independent Counsel in a written opinion delivered to the Supervisory Board, a copy of which will also be delivered to Indemnitee. The election by the Company to use a particular person, persons or entity to make such determination is to be included in a written notification to Indemnitee. The person, persons or entity chosen to make a determination under this Agreement of the Indemnitee’s entitlement to indemnification shall act reasonably and in good faith in making such determination. 
6.3    Selection of Independent Counsel.  If the determination of entitlement to indemnification pursuant to Section 6.2 will be made by an Independent Counsel, the Independent Counsel will be selected as provided in this Section 6.3. The Independent Counsel will be selected by the Company (unless the Company requests that such selection be made by the Indemnitee, in which event the immediately following sentence will apply), and the Company will give written notice to Indemnitee advising Indemnitee of the identity of the Independent Counsel so selected. If the Independent Counsel is selected by the Indemnitee, Indemnitee will give written notice to the Company advising of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be, may, within ten days after such written notice of selection is given, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in this Agreement, and the objection will set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected will act as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit. If, within 30 days after submission by Indemnitee of a written request for indemnification pursuant to Section 6.1, no Independent Counsel is selected, or an Independent Counsel for which an objection thereto has been properly made remains unresolved, either the Company or Indemnitee may petition a court of competent jurisdiction for resolution of any objection which has been made by the Company or Indemnitee to the other’s 

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selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court may designate, and the person with respect to whom all objections are so resolved or the person so appointed will act as Independent Counsel under Section 6.2. The Company will pay any and all reasonable and necessary fees and expenses incurred by such Independent Counsel in connection with acting pursuant to Section 6.2 hereof, and the Company will pay all fees and expenses incident to the procedures of this Section 6.3, regardless of the manner in which such Independent Counsel was selected or appointed. 
6.4    Burden of Proof.  In making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such determination will presume that Indemnitee is entitled to indemnification under this Agreement. Anyone seeking to overcome this presumption will have the burden of proof. Indemnitee will be deemed to have acted in good faith if Indemnitee’s action with respect to a particular Enterprise is based on the records or books of account of such Enterprise, including financial statements, or on information supplied to Indemnitee by the officers of such Enterprise in the course of their duties, or on the advice of legal counsel for such Enterprise or on information or records given or reports made to such Enterprise by an independent certified public accountant or by an appraiser or other expert selected by such Enterprise; provided, however this sentence will not be deemed to limit in any way the other circumstances in which Indemnitee may be deemed to have met the appropriate standard of conduct and provided further that this sentence shall not excuse fraudulent or other knowing improper actions taken by Indemnitee. In addition, the knowledge and/or actions, or failure to act, of any other director, officer, agent or employee of such Enterprise will not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. 
6.5    No Presumption in Absence of a Determination or As Result of an Adverse Determination; Presumption Regarding Success.  Neither the failure of any person, persons or entity chosen to make a determination as to whether Indemnitee has met any particular standard of conduct or had any particular belief to make such determination, nor an actual determination by such person, persons or entity that Indemnitee has not met such standard of conduct or did not have such belief, prior to or after the commencement of legal proceedings by Indemnitee to secure a judicial determination that Indemnitee should be indemnified under this Agreement under Applicable Law, will be a defense to Indemnitee’s claim or create a presumption that Indemnitee has not met any particular standard of conduct or did not have any particular belief. In addition, the termination of any Legal Action by settlement approved by the Management Board and Supervisory Board (whether with or without court approval) or upon a plea of nolo contendere, or its equivalent, will not create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification is not permitted by this Agreement or Applicable Law. 
6.6    Timing of Determination.  The Company will use its reasonable best efforts to cause any determination required to be made pursuant to Section 6.2 to be made as promptly as practicable after Indemnitee has submitted a written request for indemnification pursuant to Section 6.1. 
6.7    Timing of Payments.  All payments of Expenses, including any Expense Advance, and other amounts by the Company to the Indemnitee pursuant to this Agreement will be made as 

8

soon as practicable after a written request or demand therefor by Indemnitee is presented to the Company, but in no event later than 30 days after (i) such demand is presented or (ii) such later date as a determination of entitlement to indemnification is made in accordance with Section 6.6, if applicable; provided, however, that an Expense Advance will be made within the time provided in Section 4.3 hereof. 
6.8    Cooperation.  Indemnitee will cooperate with the person, persons or entity making a determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity, upon reasonable advance request, any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any Expenses incurred by Indemnitee in so cooperating with the person, persons or entity making such determination will be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification). 
6.9    Time for Submission of Request.  Indemnitee will be required to submit any request for Indemnification pursuant to this Article 6 within a reasonable time, not to exceed two years, after any judgment, order, settlement, dismissal, arbitration award, conviction, acceptance of a plea of nolo contendere (or its equivalent) or other full or partial final determination or disposition of the Legal Action (with the latest date of the occurrence of any such event to be considered the commencement of the two year period). 
ARTICLE 7
LIABILITY INSURANCE 
7.1    Liability Insurance.  The Company will use its reasonable endeavors to obtain and maintain a policy or policies of Liability Insurance with one or more reputable insurance companies providing Indemnitee with coverage in such amount as will be determined by the Supervisory Board for Claims and Expenses paid or incurred by Indemnitee as a result of acts or omissions of Indemnitee in his or her Corporate Status, and to ensure the Company’s performance of its indemnification obligations under this Agreement, to the extent that a policy covering the indemnification obligations under this Agreement is reasonably attainable; provided, however, in all policies of director and officer liability insurance obtained by the Company, Indemnitee will be named as an Insured in such manner as to provide Indemnitee with the same rights and benefits as are afforded to the other directors or officers, as applicable, of the Company under such policies. Any reductions to the amount of director and officer liability insurance coverage maintained by the Company as of the date hereof will be subject to the approval of the Supervisory Board. 
7.2    Notice to Insurers.  If, at the time of receipt by the Company of a notice from any source of a Legal Action as to which Indemnitee is a party or participant, the Company will give prompt notice of such Legal Action to the insurers in accordance with the procedures set forth in the respective policies, the Company will provide Indemnitee with a copy of such notice. The Company will thereafter take all necessary or desirable actions to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Legal Action in accordance with the terms of such policies. 

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7.3    Cooperation with Company.  The Indemnitee will cooperate in all ways with the Company and its counsel and, if required by the Company, with the insurers issuing the Company’s Liability Insurance, to the extent the Company deems such cooperation reasonably necessary in connection with the tender, evaluation, investigation, and pursuant of insurance coverage for any Legal Action. 
ARTICLE 8
REMEDIES OF INDEMNITEE 
8.1    Action by Indemnitee.  In the event that (i) a determination is made pursuant to Article 6 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) an Expense Advance is not timely made pursuant to Section 4.3 of this Agreement, (iii) no determination of entitlement to indemnification is made within the applicable time periods specified in Section 6.6 or (iv) payment of indemnified amounts is not made within the applicable time periods specified in Section 6.7, Indemnitee will be entitled to seek an award in arbitration to be conducted by a single arbitrator pursuant to the rules of the American Arbitration Association; such award to be made within 60 days following the filing of the demand for arbitration. The provisions of the laws of the State of Texas (without regard to its conflict of laws rules that would cause the application of the laws of another jurisdiction) will apply to any such arbitration. The Company will not oppose Indemnitee’s right to seek any such adjudication or award in arbitration. 
8.2    Company Bound by Favorable Determination by Reviewing Party.  If a determination is made that Indemnitee is entitled to indemnification pursuant to Article 6, the Company will be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Article 8, absent (i) a misstatement by Indemnitee of a material fact or an omission of a material fact necessary to make Indemnitee’s statements in connection with the request for indemnification not materially misleading or (ii) a prohibition of such indemnification under Applicable Law. 
8.3    Company Bound by Provisions of this Agreement.  The Company and Indemnitee will each be precluded from asserting in any judicial or arbitration proceeding commenced pursuant to this Article 8 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and will stipulate in any such judicial or arbitration proceeding that the Company is bound by all the provisions of this Agreement. 
ARTICLE 9
NON-EXCLUSIVITY, SUBROGATION; NO DUPLICATIVE PAYMENTS 
9.1    Non-Exclusivity.  The rights of indemnification and to receive Expense Advances as provided by this Agreement are not exclusive of any other rights to which Indemnitee may at any time be entitled under Applicable Law, the Articles, any agreement, a vote of stockholders, a resolution of the directors or otherwise. To the extent Indemnitee otherwise would have any greater right to indemnification or payment of any advancement of Expenses under any other provisions under Applicable Law, the Articles, any agreement, vote of stockholders, a resolution of directors or otherwise, Indemnitee will be entitled under this Agreement to such greater right. No amendment, alteration or repeal of this Agreement or of any provision hereof limits or restricts any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee prior 

10

to such amendment, alteration or repeal. To the extent that a change in Applicable Law, whether by statute or judicial decision, permits greater indemnification than would be afforded currently under the Articles and this Agreement, it is the intent of the parties hereto that Indemnitee enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy will be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, will not prevent the concurrent assertion or employment of any other right or remedy. 
9.2    Subrogation.  In the event of any payment by the Company under this Agreement, the Company will be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee with respect thereto, including rights under any policy of insurance or other indemnity agreement or obligation, and Indemnitee will execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights (it being understood that all of Indemnitee’s reasonable Expenses related thereto will be borne by the Company). 
9.3    No Duplicative Payments.  The Company will not be liable under this Agreement to make any payment of amounts otherwise indemnifiable (or any Expense for which advancement is provided) hereunder if and to the extent that Indemnitee is otherwise entitled to receive such payment under any insurance policy, contract, agreement or otherwise. The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee in respect of Legal Actions relating to Indemnitee’s service at the request of the Company as a director, officer, employee, partner, member, manager, trustee, fiduciary or agent of any other Enterprise will be reduced by any amount Indemnitee is actually entitled to receive as indemnification or advancement of Expenses from such other Enterprise. Subject to Section 4.1, the indemnity obligations of this Agreement shall apply in excess of the Company’s Liability Insurance and to any other insurance or indemnities available to the Indemnitee. 
ARTICLE 10
DEFENSE OF PROCEEDINGS 
10.1    Company Assuming the Defense.  In the event the Company is obligated to pay in advance the Expenses of any Legal Action pursuant to Article 4, the Company will be entitled, by written notice to Indemnitee, to assume the defense of such Legal Action, with counsel approved by Indemnitee, which approval will not be unreasonably withheld or delayed. The Company will identify the counsel it proposes to employ in connection with such defense as part of the written notice sent to Indemnitee notifying Indemnitee of the Company’s election to assume such defense, and Indemnitee will be required, within ten days following Indemnitee’s receipt of such notice, to inform the Company of its approval of such counsel or, if it has objections, the reasons therefor. If such objections cannot be resolved by the parties, the Company will identify alternative counsel, which counsel will also be subject to approval by Indemnitee in accordance with the procedure described in the prior sentence. In the absence of an actual conflict of interest that would prevent defense counsel from representing both the Indemnitee and other defendants in the Legal Action, 

11

the Indemnitee agrees that the Company may assign defense counsel to represent Indemnitee and other defendants in that Legal Action. 
10.2    Right of Indemnitee to Employ Counsel.  Following approval of counsel by Indemnitee pursuant to Section 10.1 and retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees and expenses of counsel subsequently incurred by Indemnitee with respect to the same Legal Action; provided, however, that (a) Indemnitee has the right to employ counsel in any such Legal Action at Indemnitee’s expense and (b) the Company will be required to pay the fees and expenses of Indemnitee’s counsel if (i) the employment of counsel by Indemnitee is authorized by the Company, (ii) an actual conflict of interest arises between the Company (or any other person or persons included in a joint defense) and Indemnitee in the conduct of such defense or representation by such counsel retained by the Company and the Company has not appointed new counsel without such conflict of interest to represent the Indemnitee or (iii) the Company does not continue to retain such counsel approved by the Indemnitee and the Company has not appointed new counsel to represent the Indemnitee in accordance with Section 10.1. 
ARTICLE 11
SETTLEMENT 
11.1    Company Bound by Provisions of this Agreement.  Notwithstanding anything in this Agreement to the contrary, the Company will have no obligation to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any Legal Action effected without the Company’s prior written consent, which consent shall not be unreasonably withheld. 
11.2    When Indemnitee’s Prior Consent Required.  The Company will not, without the prior written consent of Indemnitee, consent to the entry of any judgment against Indemnitee or enter into any settlement or compromise which (i) contains any non-monetary remedy imposed on Indemnitee or a Loss for which Indemnitee is not wholly indemnified hereunder or (ii) with respect to any Legal Action with respect to which Indemnitee is made a party or a participant or is otherwise entitled to seek indemnification hereunder, does not include, as an unconditional term thereof, the full release of Indemnitee from all liability in respect of such Legal Action. Neither the Company nor Indemnitee will unreasonably withhold its consent to any proposed settlement; provided, however, Indemnitee may withhold consent to any settlement that does not provide a full and unconditional release of Indemnitee from all liability in respect of such Legal Action. 
ARTICLE 12
DURATION OF AGREEMENT; PERIOD OF LIMITATIONS 
12.1    Duration of Agreement.  This Agreement will continue until and terminate upon the latest of (a) the statute of limitations applicable to any claim that could be asserted against an Indemnitee with respect to which Indemnitee may be entitled to indemnification and/or an Expense Advance under this Agreement, (b) ten years after the date that Indemnitee has ceased to serve as a director or officer of the Company or as a director, officer, employee, partner, member, manager, fiduciary or agent of any other Enterprise which Indemnitee served at the request of the Company, or (c) if, at the later of the dates referred to in (a) and (b) above, there is pending a Legal Action in 

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respect of which Indemnitee is granted rights of indemnification or the right to an Expense Advance under this Agreement or a Legal Action commenced by Indemnitee pursuant to Article 8 of this Agreement, one year after the final termination of such Legal Action, including any and all appeals. 
ARTICLE 13
MISCELLANEOUS 
13.1    Entire Agreement.  This Agreement constitutes the entire agreement and understanding of the parties in respect of the subject matter hereof and supersedes all prior understandings, agreements or representations by or among the parties, written or oral, to the extent they relate in any way to the subject matter hereof; provided, however, it is agreed that the provisions contained in this Agreement are a supplement to, and not a substitute for, any provisions regarding the same subject matter contained in the Articles and any employment or similar agreement between the parties. 
13.2    Assignment; Binding Effect; Third Party Beneficiaries.  No party may assign either this Agreement or any of its rights, interests or obligations hereunder without the prior written approval of the other party and any such assignment by a party without prior written approval of the other parties will be deemed invalid and not binding on such other parties. All of the terms, agreements, covenants, representations, warranties and conditions of this Agreement are binding upon, and inure to the benefit of and are enforceable by, the parties and their respective successors, permitted assigns, heirs, executors and personal and legal representatives. There are no third party beneficiaries having rights under or with respect to this Agreement. 
13.3    Notices.  All notices, requests and other communications provided for or permitted to be given under this Agreement must be in writing and be given by personal delivery, by certified or registered mail (postage prepaid, return receipt requested), by a nationally recognized overnight delivery service for next day delivery, or by facsimile transmission, as follows (or to such other address as any party may give in a notice given in accordance with the provisions hereof): 
If to the Company: 
Frank’s International N.V.
Mastenmakersweg 1
1786 PB Den Helder, The Netherlands
Attention: General Counsel
Facsimile: (281) 558-2980

with a copy to: 
Frank’s International N.V.
10260 Westheimer Rd.
Houston, Texas 77042
Attention: General Counsel 
Facsimile: (281) 558-2980

13

If to Indemnitee: 

Melanie M. Trent
10260 Westheimer, Suite 700
Houston, TX 77042
Facsimile: (281) 558-2980
All notices, requests or other communications will be effective and deemed given only as follows: (i) if given by personal delivery, upon such personal delivery, (ii) if sent by certified or registered mail, on the fifth business day after being deposited in the United States mail, (iii) if sent for next day delivery by overnight delivery service, on the date of delivery as confirmed by written confirmation of delivery, (iv) if sent by facsimile, upon the transmitter’s confirmation of receipt of such facsimile transmission, except that if such confirmation is received after 5:00 p.m. (in the recipient’s time zone) on a business day, or is received on a day that is not a business day, then such notice, request or communication will not be deemed effective or given until the next succeeding business day. Notices, requests and other communications sent in any other manner, including by electronic mail, will not be effective. 
13.4    Specific Performance; Remedies.  Each party acknowledges and agrees that the other party would be damaged irreparably if any provision of this Agreement were not performed in accordance with its specific terms or were otherwise breached. Accordingly, the parties will be entitled to an injunction or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically this Agreement and its provisions in any action or proceeding instituted in any court having jurisdiction over the parties and the matter, in addition to any other remedy to which they may be entitled, at law or in equity. Except as expressly provided for herein, the rights, obligations and remedies created by this Agreement are cumulative and in addition to any other rights, obligations or remedies otherwise available at law or in equity. Except as expressly provided herein, nothing herein will be considered an election of remedies. 
13.5    Submission to Jurisdiction.  Any Legal Action seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement may only be brought in any courts in the State of Texas, which will be the exclusive and only proper forums for adjudicating such Legal Action, and each party consents to the exclusive jurisdiction and venue of such courts (and of the appropriate appellate courts therefrom) in any such Legal Action and irrevocably waives, to the fullest extent permitted by Applicable Law, any objection that it may now or hereafter have to the laying of the venue of any such Legal Action in any such court or that any such Legal Action brought in any such court has been brought in an inconvenient forum. Process in any such action, suit or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. 
13.6    Headings.  The article and section headings contained in this Agreement are inserted for convenience only and will not affect in any way the meaning or interpretation of this Agreement. 
13.7    Governing Law.  This Agreement will be governed by and construed in accordance with the laws of the State of Texas, without giving effect to any choice of law principles. 

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13.8    Amendment.  This Agreement may not be amended or modified except by a writing signed by all of the parties. 
13.9    Extensions; Waivers.  Any party may, for itself only, (i) extend the time for the performance of any of the obligations of any other party under this Agreement, (ii) waive any inaccuracies in the representations and warranties of any other party contained herein or in any document delivered pursuant hereto and (iii) waive compliance with any of the agreements or conditions for the benefit of such party contained herein. Any such extension or waiver will be valid only if set forth in a writing signed by the party to be bound thereby. No waiver by any party of any default, misrepresentation or breach of warranty or covenant hereunder, whether intentional or not, may be deemed to extend to any prior or subsequent default, misrepresentation or breach of warranty or covenant hereunder or affect in any way any rights arising because of any prior or subsequent such occurrence. Neither the failure nor any delay on the part of any party to exercise any right or remedy under this Agreement will operate as a waiver thereof, nor will any single or partial exercise of any right or remedy preclude any other or further exercise of the same or of any other right or remedy. 
13.10    Severability.  The provisions of this Agreement will be deemed severable and the invalidity or unenforceability of any provision will not affect the validity or enforceability of the other provisions hereof; provided that if any provision of this Agreement, as applied to any party or to any circumstance, is judicially determined not to be enforceable in accordance with its terms, the parties agree that the court judicially making such determination may modify the provision in a manner consistent with its objectives such that it is enforceable, and/or to delete specific words or phrases, and in its modified form, such provision will then be enforceable and will be enforced. 
13.11    Counterparts; Effectiveness.  This Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together will constitute one and the same instrument. This Agreement will become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties, which delivery may be made by exchange of copies of the signature page by facsimile or other electronic transmission. 
13.12    Construction.  This Agreement has been freely and fairly negotiated among the parties. If an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties and no presumption or burden of proof will arise favoring or disfavoring any party because of the authorship of any provision of this Agreement. Any reference to any law will be deemed also to refer to such law as amended and all rules and regulations promulgated thereunder, unless the context requires otherwise. The words “include,” “includes,” and “including” will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to include any other gender, and words in the singular form will be construed to include the plural and vice versa, unless the context otherwise requires. The words “this Agreement,” “herein,” “hereof,” “hereby,” “hereunder,” and words of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. The parties intend that each representation, warranty, and covenant contained herein will have independent significance. If any party has breached any representation, warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant 

15

relating to the same subject matter (regardless of the relative levels of specificity) which the party has not breached will not detract from or mitigate the fact that the party is in breach of the first representation, warranty, or covenant. Time is of the essence in the performance of this Agreement. 
[Signature page follows] 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written. 
FRANK’S INTERNATIONAL N.V.

By:  /s/ Michael C. Kearney                                    
Name: Michael C. Kearney
Title: Chairman, President and Chief Executive Officer  

Indemnitee

/s/ Melanie M. Trent                                                
Signature

 
Name: Melanie M. Trent

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