Document:

EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

TENTH AMENDMENT TO AMENDED AND RESTATED 

REVOLVING CREDIT, TERM LOAN AND SECURITY AGREEMENT 

THIS TENTH AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT, TERM LOAN AND SECURITY AGREEMENT (this “Amendment”) is made
and entered into effective September 29, 2017 (the “Effective Date”), by and among FLOTEK INDUSTRIES, INC., a corporation organized under the laws of the State of Delaware (“Holdings”), FLOTEK CHEMISTRY, LLC, a
limited liability company organized under the laws of the State of Oklahoma (“Flotek Chemistry”), CESI MANUFACTURING, LLC, a limited liability company organized under the laws of the State of Oklahoma (“CESI
Manufacturing”), MATERIAL TRANSLOGISTICS, INC., a corporation organized under the laws of the State of Texas (“MTI”), TELEDRIFT COMPANY, a corporation organized under the laws of the State of Delaware
(“Teledrift”), TURBECO, INC., a corporation organized under the laws of the State of Texas (“Turbeco”), USA PETROVALVE, INC., a corporation organized under the laws of the State of Texas (“USA
Petrovalve”), FLORIDA CHEMICAL COMPANY, INC., a corporation organized under the laws of the State of Delaware (“Florida Chemical”), SITELARK LLC, a limited liability company organized under the laws of the State of Texas
(“Sitelark”), FLOTEK ECUADOR MANAGEMENT LLC, a limited liability company organized under the laws of the State of Texas (“Ecuador Management”), FLOTEK ECUADOR INVESTMENTS LLC, a limited liability company organized
under the laws of the State of Texas (“Ecuador Investments”), FLOTEK EXPORT, INC., a corporation organized under the laws of the State of Texas (“Export”), ECLIPSE IOR SERVICES, LLC, a limited liability company
organized under the laws of the State of Texas (“EOGA”), FRACMAX ANALYTICS, LLC, a limited liability company organized under the laws of the State of Texas (“Fracmax”), FC PRO, LLC, a limited liability company
organized under the laws of the State of Delaware (“FC PRO”), FLOTEK HYDRALIFT, INC., a corporation organized under the laws of the State of Texas (“Hydralift”; and together with Holdings, Flotek Chemistry, CESI
Manufacturing, MTI, Teledrift, Turbeco, USA Petrovalve, Florida Chemical, Sitelark, Ecuador Management, Ecuador Investments, Export, EOGA, Fracmax and FC PRO, collectively, the “Borrowers” and each individually, a
“Borrower”), the financial institutions which are now or which hereafter become a party thereto (collectively, the “Lenders” and each individually a “Lender”), and PNC BANK, NATIONAL ASSOCIATION
(“PNC”), as a Lender and as agent for Lenders (in such capacity, “Agent”). 
 PRELIMINARY STATEMENTS

 A.    Borrowers, Lenders and Agent are parties to that certain Amended and Restated Revolving Credit, Term Loan
and Security Agreement dated May 10, 2013, as amended by that certain First Amendment to Amended and Restated Revolving Credit, Term Loan and Security Agreement, dated as of December 31, 2013, that certain Second Amendment to Amended and
Restated Revolving Credit, Term Loan and Security Agreement, dated as of December 5, 2014, that certain Third Amendment to Amended and Restated Revolving Credit, Term Loan and Security Agreement, dated as of June 19, 2015, that certain
Fourth Amendment to Amended and Restated Revolving Credit, Term Loan and Security Agreement, dated as of July 21, 2015, that certain Fifth Amendment to Amended and Restated Revolving Credit, Term Loan and Security

 
Agreement, dated as of March 31, 2016, that certain Sixth Amendment to Amended and Restated Revolving Credit, Term Loan and Security Agreement, dated as of November 2, 2016, that
certain Seventh Amendment to Amended and Restated Revolving Credit, Term Loan and Security Agreement and Sixth Amendment to Amended and Restated Revolving Credit, Term Loan and Security Agreement, effective as of March 31, 2017, that certain
Eighth Amendment to Amended and Restated Revolving Credit, Term Loan and Security Agreement, effective as of June 7, 2017 and that certain Ninth Amendment to Amended and Restated Revolving Credit, Term Loan and Security Agreement, dated as of
July 1, 2017 (as it may be further amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”); and 

B.    Borrowers have requested that Agent and the Lenders make certain amendments to the Credit Agreement; and 

C.    Subject to the terms and conditions set forth herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Agent and the Lenders are willing to make certain amendments to the Credit Agreement, all as set forth herein. 

NOW, THEREFORE, in consideration of the premises herein contained and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties, intending to be legally bound, agree as follows: 
 ARTICLE I 

DEFINITIONS 

1.01    Capitalized terms used in this Amendment are defined in the Credit Agreement, as amended hereby, unless
otherwise stated. 
 ARTICLE II 

AMENDMENT 

2.01    Amendments to Section 1.2 – Amended Definitions.
Effective as of the Effective Date, the definitions of “Maximum Loan Amount”, “Maximum Revolving Advance Amount” and “Permitted Loans” set forth in Section 1.2 are hereby deleted in their
entirety and replaced with the following: 
 “Maximum Loan Amount” shall mean $75,000,000 plus
any increases in accordance with Section 2.24. 
 “Maximum Revolving Advance Amount” shall mean
$75,000,000 plus any increases in accordance with Section 2.24. 
 “Permitted Loans” shall mean
(a) the extension of trade credit by a Borrower to its Customer(s), in the Ordinary Course of Business in connection with a sale of Inventory or rendition of services, in each case on open account terms; (b) loans to employees in the
Ordinary Course of Business not to exceed as to all such loans the aggregate amount of $100,000 at any time outstanding; (c) loans to Flotek Industries 

  
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Holding Limited, Flotek Industries UK Limited, Flotek Technologies ULC, Flotek Chemical Ecuador CIA LTDA, Petrovalve International, Inc. or Flotek Industries, FZE in an aggregate amount not to
exceed $5,000,000 in any fiscal year; provided, however: (i) any such loan to Flotek Industries UK Limited is evidenced by an intercompany promissory note in form and substance acceptable to Agent in its Permitted Discretion (the
“Intercompany Note”); (ii) Flotek Industries UK Limited, simultaneously with the making of such Intercompany Note, grants Holdings a Lien to secure its obligations under the Intercompany Note pursuant to a security agreement or similar
document in form and substance acceptable to Agent in its Permitted Discretion (the “Intercompany Security Agreement”); (iii) Holdings perfects each Lien granted under the Intercompany Security Agreement; and (iv) Holdings assigns
pursuant to an assignment agreement in form and substance satisfactory to Agent in its Permitted Discretion to Agent for the benefit of itself and the Lenders, the Intercompany Note, the Intercompany Security Agreement and each Lien granted pursuant
to the Intercompany Security Agreement, including all recording and filing instruments evidencing any such Lien; (d) loans by Flotek Industries Holding Limited, Flotek Industries UK Limited and/or Flotek Technologies ULC to fund the Omani
Investment; (e) loans by Holdings to CoilChem Water Technologies, LLC, not to exceed a maximum aggregate amount of $400,000 and so long as collaterally assigned to Agent for the benefit of the Secured Parties, acceptable to Agent in its
Permitted Discretion; (f) loans by Holdings to Resurgence Resources Group, LLC, not to exceed a maximum aggregate amount of $1,000,000 and so long as collaterally assigned to Agent for the benefit of the Secured Parties, acceptable to Agent in
its Permitted Discretion; (g) loans to Credit Parties to the extent permitted by clause (e) of the definition of Permitted Indebtedness and (h) loans to Persons (other than any Subsidiary or other Affiliate of any Borrower) not to
exceed an aggregate maximum amount of $2,500,000, less amounts outstanding due to the operation of clauses (e) and (f) above, and provided that before and after giving effect to the making of any such individual loan, Borrowers have Undrawn
Availability of at least $15,000,000. 
 2.02    Amendment to Section 1.2
– Deleted Definitions. Effective as of the Effective Date, the definition of “Availability Block” set forth in Section 1.2 is hereby deleted in its entirety. 

2.03    Amendment to Section 1.2 – New Definitions. Effective
as of the Effective Date, the following new definitions of “Tenth Amendment” and “Tenth Amendment Effective Date” shall be added to Section 1.2 in the proper alphabetic order: 

“Tenth Amendment” shall mean that certain Tenth Amendment to Amended and Restated Revolving Credit, Term Loan
and Security Agreement dated as of the Tenth Amendment Effective Date, by and among, Borrowers, Agent and Lender. 

“Tenth Amendment Effective Date” shall mean September 29, 2017. 

  
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 2.04    Amendment to
Section 2.1(a). Effective as of the Effective Date, Section 2.1(a) is hereby amended and restated in its entirety to read as follows: 

(a)    Amount of Revolving Advances. Subject to the terms and conditions set forth in this Agreement
specifically including Section 2.1(b), each Lender, severally and not jointly, will make Revolving Advances to Borrowers in aggregate amounts outstanding at any time equal to such Lender’s Revolving Commitment Percentage of the lesser of
(x) the Maximum Revolving Advance Amount, less the outstanding amount of Swing Loans, less the aggregate Maximum Undrawn Amount of all outstanding Letters of Credit or (y) an amount equal to the sum of: 

(i)    the sum of (a) up to 85%, subject to the provisions to Section 2.1(b) hereof (the
“Receivables Advance Rate”), of Eligible Receivables, other than Eligible Insured Foreign Receivables, plus (b) the lesser of (x) up to the Receivables Advance Rate times Eligible Insured Foreign Receivables and (y)
$10,000,000, plus 
 (ii)    up to the lesser of (A) seventy-percent (70%), subject to the
provisions to Section 2.1(b) hereof, of the Eligible Inventory, (B) eighty-five percent (85%), subject to the provisions to Section 2.1(b) hereof, of the value percentage of the appraised net orderly liquidation value of Eligible
Inventory (as evidenced by an Inventory appraisal satisfactory to Agent in its sole discretion exercised in good faith) and (C) $52,000,000 in the aggregate at any one time (“Inventory Advance Rate” and together with the Receivables
Advance Rate, collectively, the “Advance Rates”), minus 
 (iii)    the aggregate
Maximum Undrawn Amount of all outstanding Letters of Credit, minus 
 (iv)    such reserves as
Agent may deem proper and necessary in the exercise of its Permitted Discretion from time to time. 
 The amount derived from the sum of (x) Sections
2.1(a)(y)(i) and (ii) minus (y) Section 2.1(a)(y)(iv) at any time and from time to time shall be referred to as the “Formula Amount”. Subject to the provisions of Section 2.1(b), the Formula Amount applicable
at any time shall be calculated as set forth in the Borrowing Base Certificate delivered pursuant to Section 9.2 and approved by Agent in its sole discretion. The Revolving Advances shall be evidenced by one or more secured promissory notes,
substantially in the form attached hereto as Exhibit 2.1(a) (as the same may be amended, amended and restated, renewed, replaced, supplemented and/or otherwise modified from time to time, collectively, the “Revolving Credit
Note”). 
 2.05    Amendment to Section 2.24(a)(iv).
Effective as of the Effective Date, Section 2.24(a)(iv) is hereby deleted in its entirety and replaced with the following: 

(iv)    After giving effect to such increase, the Maximum Revolving Advance Amount shall not exceed
$90,000,000; 
 2.06    Amendment to Section 6.5(b). Effective as
of the Effective Date, Section 6.5(b) is hereby deleted in its entirety and replaced with the following: 

(b)    Leverage Ratio. Cause to be maintained, a ratio of Funded Debt to Adjusted EBITDA, of not
greater than: (i) 5.0 to 1.00, measured as of September 30, 

  
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2017, for the three (3) fiscal quarter period then ending; (ii) 4.50 to 1.00, measured as of December 31, 2017, for the four (4) fiscal quarter period then ending; (iii) 4.00 to
1.00, measured as of March 31, 2018 for the four (4) fiscal quarter period then ending; (iv) 3.50 to 1.00, measured as of June 30, 2018, for the four (4) fiscal quarter period then ending; and (v) 3.00 to 1.00, measured as of
September 30, 2018 and as of the last day of each fiscal quarter thereafter, in each case, for the four (4) fiscal quarter period then ending; provided, that (i) for the two (2) fiscal quarter period ending June 30, 2017,
Adjusted EBITDA shall be multiplied by 2 and (ii) for the three (3) fiscal quarter period ending September 30, 2017, Adjusted EBITDA shall be multiplied by 4/3. 

2.07    Amendment to Section 6.5(d). Effective as of the Effective
Date, Section 6.5(d) is hereby deleted in its entirety and replaced with the following: 

(d)    [Reserved]. 

2.08    Amended to Section 7.6. Effective as of the Effective Date,
Section 7.6 is hereby deleted in its entirety and replaced with the following: 

7.6.    Capital Expenditures. Contract for, purchase or make any expenditure or commitments for
Capital Expenditures in: (x) fiscal year 2017 in an aggregate amount in excess of (i) $15,000,000, if Undrawn Availability is less than $15,000,000 (measured at month-end for the month in which such
Capital Expenditure occurred and again at fiscal year-end), or (ii) $20,000,000, if Undrawn Availability is greater than or equal to $15,000,000 (measured at month-end
for the month in which such Capital Expenditure occurred and again at fiscal year-end); and (y) fiscal year 2018 and each fiscal year thereafter in an aggregate amount in excess of (i) $20,000,000, if
Undrawn Availability is less than $15,000,000 (measured at month-end for the month in which such Capital Expenditure occurred and again at fiscal year-end), or (ii)
$26,000,000, if Undrawn Availability is greater than or equal to $15,000,000 (measured at month-end for the month in which such Capital Expenditure occurred and again at fiscal
year-end). For purposes of this Section 7.6, the amount of “lost in hole” revenue of Borrowers shall be subtracted from the amounts deemed or paid for Capital
Expenditures. 
 2.09    Amended to Section 7.7. Effective as of
the Effective Date, Section 7.7 is hereby deleted in its entirety and replaced with the following: 

7.7.    Dividends. Declare, pay or make any dividend or distribution on any shares of the common
stock or preferred stock of any Borrower that is a corporation (other than dividends or distributions payable in its stock, or split-ups or reclassifications of its stock) or apply any of its funds, property
or assets to the purchase, redemption or other retirement of any common or preferred stock, or of any options to purchase or acquire any such shares of common or preferred stock of any Borrower that is a corporation, other than dividends paid to
another Borrower; provided that Holdings may repurchase or redeem up to $35,000,000 in shares of the issued common stock or preferred stock of Holdings so long as immediately prior to and after giving effect to any such repurchase or
redemption of (x) up to and including $25,000,000 in shares of the issued common stock or preferred stock of Holdings, (i) no Default or Event of Default 

  
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shall have occurred or result therefrom, (ii) Borrowers’ pro forma Undrawn Availability shall be greater than $10,000,000 based on the month-end
Borrowing Base Certificate delivered by Borrowers to Agent for the month most recently ended and (iii) immediately prior to or simultaneously with such repurchase or redemption, Borrowers shall deliver a certificate signed by an authorized
officer of Borrowers certifying that the matters in clauses (x)(i) and (x)(ii) above have been satisfied and (y) greater than $25,000,000 up to and including $35,000,000 in shares of the issued common stock or preferred stock of Holdings
(i) no Default or Event of Default shall have occurred or result therefrom, (ii) Borrowers’ pro forma Undrawn Availability shall be greater than $20,000,000 based on the month-end Borrowing Base
Certificate delivered by Borrowers to Agent for the month most recently ended and (iii) immediately prior to or simultaneously with such repurchase or redemption, Borrowers shall deliver a certificate signed by an authorized officer of
Borrowers certifying that the matters in clauses (y)(i) and (y)(ii) above have been satisfied. 

2.10    Amendment to Section 13.1. Effective as of the Effective
Date, Section 13.1 is hereby deleted in its entirety and replaced with the following: 

13.1    Term. This Agreement, which shall inure to the benefit of and shall be binding upon the
respective successors and permitted assigns of each Borrower, Agent and each Lender, shall become effective on the date hereof and shall continue in full force and effect until May 10, 2022 (the “Term”) unless sooner terminated
as herein provided. 
 ARTICLE III 

CONDITIONS PRECEDENT 

3.01    Conditions to Effectiveness. The effectiveness of this Amendment is subject to the
satisfaction of the following conditions precedent, unless specifically waived in writing by Agent: 

(a)    Agent shall have received the following documents or items, each in form and substance satisfactory
to Agent and its legal counsel: 
 (i)    this Amendment duly executed by each Borrower; 

(ii)    the Fifth Amended and Restated Revolving Credit Note (“5th A&R Note”); 
 (iii)    $380,000
amendment fee, which shall be fully earned and nonrefundable as of the date hereof, which fee shall be distributed ratably amongst the Lenders; 

(iv)    the Second A&R Fee Letter executed by each Borrower (“Second A&R Fee
Letter”); 

  
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 (v)    the executed legal opinion of Doherty &
Doherty LLP in form and substance satisfactory to Agent, which opinion shall cover such matters incident to the transactions contemplated by this Amendment, the 5th A&R Note, the Second
A&R Fee Letter, the Other Documents and related agreements as Agent may reasonably require and Borrowers hereby authorize and direct such counsel to deliver such opinions to Agent and Lenders; 

(vi)    all other documents Agent may reasonably request with respect to any matter relevant to this
Amendment or the transactions contemplated hereby; and 
 (vii)    all other fees, costs and expenses
owed to or incurred by Agent and Lenders arising in connection with the Credit Agreement, the Other Documents, or this Amendment. 

(b)    The representations and warranties contained herein and in the Credit Agreement and the Other
Documents, as each is amended hereby, shall be true and correct as of the date hereof, as if made on the date hereof; and 

(c)    No Default or Event of Default shall have occurred and be continuing. 

3.02    Conditions Subsequent. The effectiveness of this Amendment shall also be subject to the
Borrowers’ delivery to Lender of the following items on or before the applicable date set forth below: 

(a)    within fifteen (15) days after the Effective Date, or within such longer period as the Agent
may agree at its sole option, executed legal opinion of Phillips Murrah P.C., as required by Agent, in form and substance reasonably satisfactory to Agent which shall cover such matters incident to the transactions contemplated by this Amendment,
the 5th A&R Note, the Second A&R Fee Letter, the Other Documents and related agreements as Agent may reasonably require and Borrowers hereby authorize and direct such counsel to deliver
such opinions to Agent and Lenders. 
 3.03    No Waiver. Nothing contained in this Amendment shall
be construed as a waiver by Agent or any Lender of any covenant or provision of the Credit Agreement (as amended hereby), the Other Documents, this Amendment, or of any other contract or instrument between any Borrower and Agent or any Lender, and
the failure of Agent or any Lender at any time or times hereafter to require strict performance by any Borrower of any provision thereof shall not waive, affect or diminish any right of Agent to thereafter demand strict compliance therewith. Agent
and each Lender hereby reserve all rights granted under the Credit Agreement, the Other Documents, this Amendment and any other contract or instrument between any Borrower, Lenders and Agent. 

  
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 ARTICLE IV 

RATIFICATIONS, REPRESENTATIONS, WARRANTIES AND OTHER AGREEMENTS 

4.01    Ratifications. The terms and provisions set forth in this Amendment shall modify and
supersede all inconsistent terms and provisions set forth in the Credit Agreement and the Other Documents, and, except as expressly modified and superseded by this Amendment, the terms and provisions of the Credit Agreement and the Other Documents
are ratified and confirmed and shall continue in full force and effect. Each Borrower hereby agrees that all liens and security interest securing payment of the Obligations under the Credit Agreement are hereby collectively renewed, ratified and
brought forward as security for the payment and performance of the Obligations. Each Borrower and Agent agree that the Credit Agreement and the Other Documents, as amended hereby, shall continue to be legal, valid, binding and enforceable in
accordance with their respective terms. 
 4.02    Representations and Warranties with respect to Other
Documents. Each Borrower hereby represents and warrants to Agent that (a) the execution, delivery and performance of this Amendment and any and all Other Documents executed and/or delivered in connection herewith have been authorized by
all requisite corporate action on the part of each Borrower and will not violate the Articles or Certificate of Incorporation or By-Laws or the Certificate of Formation or Operating Agreement of any Borrower;
(b) the representations and warranties contained in the Credit Agreement, as amended hereby, and the Other Documents are true and correct on and as of the date hereof and on and as of the date of execution hereof as though made on and as of
each such date; (c) no Default or Event of Default under the Credit Agreement, as amended hereby, has occurred and is continuing, unless such Default or Event of Default has been specifically waived in writing by Agent; and (d) each
Borrower is in full compliance with all covenants and agreements contained in the Credit Agreement and the Other Documents, as amended hereby. 

ARTICLE V 

MISCELLANEOUS PROVISIONS 

5.01    Survival of Representations and Warranties. All representations and warranties made in the
Credit Agreement or the Other Documents, including, without limitation, any document furnished in connection with this Amendment, shall survive the execution and delivery of this Amendment and the Other Documents, and no investigation by Agent or
any closing shall affect the representations and warranties or the right of Agent to rely upon them. 

5.02    Reference to Credit Agreement. Each of the Credit Agreement and the Other Documents, and any
and all other agreements, documents or instruments now or hereafter executed and delivered pursuant to the terms hereof or pursuant to the terms of the Credit Agreement, as amended hereby, are hereby amended so that any reference in the Credit
Agreement and such Other Documents to the Credit Agreement shall mean a reference to the Credit Agreement as amended hereby. 

5.03    Expenses of Agent. Each Borrower jointly and severally agrees to pay on demand all reasonable
costs and expenses incurred by Agent in connection with any and all amendments, modifications, and supplements to the Other Documents, including, without limitation, the costs and fees of Agent’s legal counsel, and all costs and expenses
incurred by Agent in connection with the enforcement or preservation of any rights under the Credit Agreement, as amended hereby, or any Other Documents, including, without, limitation, the costs and fees of Agent’s legal counsel. 

  
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 5.04    Severability. Any provision of this Amendment
held by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held to be invalid or unenforceable. 

5.05    Successors and Assigns. This Amendment is binding upon and shall inure to the benefit of
Agent, Lenders and each Borrower and their respective successors and assigns, except that no Borrower may assign or transfer any of its rights or obligations hereunder without the prior written consent of Agent. 

5.06    Counterparts. This Amendment may be executed in one or more counterparts, each of which when
so executed shall be deemed to be an original, but all of which when taken together shall constitute one and the same instrument. 

5.07    Effect of Waiver. No consent or waiver, express or implied, by Lenders or Agent to or for any
breach of or deviation from any covenant or condition by any Borrower shall be deemed a consent to or waiver of any other breach of the same or any other covenant, condition or duty. 

5.08    Headings. The headings, captions, and arrangements used in this Amendment are for convenience
only and shall not affect the interpretation of this Amendment. 
 5.09    Applicable Law. THIS AMENDMENT AND
ALL OTHER AGREEMENTS EXECUTED PURSUANT HERETO SHALL BE DEEMED TO HAVE BEEN MADE AND TO BE PERFORMABLE IN AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS. 

5.10    Final Agreement. THE CREDIT AGREEMENT AND THE OTHER DOCUMENTS, EACH AS AMENDED HEREBY, REPRESENT THE
ENTIRE EXPRESSION OF THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF ON THE DATE THIS AMENDMENT IS EXECUTED. THE CREDIT AGREEMENT AND THE OTHER DOCUMENTS, AS AMENDED HEREBY, MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. NO MODIFICATION, RESCISSION, WAIVER, RELEASE OR AMENDMENT OF ANY PROVISION OF THIS AMENDMENT SHALL BE MADE, EXCEPT BY A WRITTEN AGREEMENT SIGNED
BY BORROWERS AND AGENT. 
 5.11    Release. EACH BORROWER HEREBY ACKNOWLEDGES THAT IT HAS NO
DEFENSE, COUNTERCLAIM, OFFSET, CROSS-COMPLAINT, CLAIM OR DEMAND OF ANY KIND OR NATURE WHATSOEVER THAT CAN BE ASSERTED TO REDUCE OR ELIMINATE ALL OR ANY PART OF ITS LIABILITY TO REPAY ANY LOANS OR EXTENSIONS OF
CREDIT FROM AGENT AND LENDERS TO SUCH BORROWER 

  
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UNDER THE CREDIT AGREEMENT OR THE OTHER DOCUMENTS OR TO SEEK AFFIRMATIVE RELIEF OR DAMAGES OF ANY KIND OR NATURE FROM LENDERS AND AGENT. EACH BORROWER HEREBY VOLUNTARILY AND KNOWINGLY RELEASES
AND FOREVER DISCHARGES LENDERS, AGENT, THEIR PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS, FROM ALL POSSIBLE CLAIMS, DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND LIABILITIES WHATSOEVER, KNOWN OR UNKNOWN, ANTICIPATED
OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED, CONTINGENT, OR CONDITIONAL, AT LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE THIS AMENDMENT IS EXECUTED, WHICH SUCH BORROWER MAY NOW OR HEREAFTER HAVE AGAINST LENDERS AND
AGENT, THEIR PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS, IF ANY, AND IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, AND ARISING FROM ANY LOANS OR EXTENSIONS OF CREDIT
FROM LENDERS AND AGENT TO SUCH BORROWER UNDER THE CREDIT AGREEMENT OR THE OTHER DOCUMENTS, INCLUDING, WITHOUT LIMITATION, ANY CONTRACTING FOR, CHARGING, TAKING, RESERVING, COLLECTING OR RECEIVING INTEREST IN EXCESS OF THE HIGHEST LAWFUL RATE
APPLICABLE, THE EXERCISE OF ANY RIGHTS AND REMEDIES UNDER THE CREDIT AGREEMENT OR OTHER DOCUMENTS, AND NEGOTIATION FOR AND EXECUTION OF THIS AMENDMENT. 

5.12    Guarantors Consent, Ratification and Release. Each of the undersigned Guarantors hereby
consents to the terms of this Amendment, confirms and ratifies the terms of that certain Guaranty dated as of May 10, 2013 (the “FTK Guaranty”) executed by each of the undersigned in favor of Agent and the other Lenders. Each
of the undersigned Guarantors acknowledges that its Guaranty is in full force and effect and ratifies the same, acknowledges that such undersigned has no defense, counterclaim, set-off or any other claim to
diminish such undersigned’s liability under such documents, that such undersigned’s consent is not required to the effectiveness of the within and foregoing Amendment, and that no consent by any such undersigned is required for the
effectiveness of any future amendment, modification, forbearance or other action with respect to the Obligations, the Collateral, or any of the Other Documents. EACH OF THE UNDERSIGNED HEREBY VOLUNTARILY AND KNOWINGLY RELEASES AND FOREVER DISCHARGES
AGENT AND LENDERS, THEIR PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS, FROM ALL POSSIBLE CLAIMS, DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND LIABILITIES WHATSOEVER, KNOWN OR UNKNOWN, ANTICIPATED OR UNANTICIPATED,
SUSPECTED OR UNSUSPECTED, FIXED, CONTINGENT, OR CONDITIONAL, AT LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE THIS AMENDMENT AND THIS CONSENT ARE EXECUTED, WHICH EACH SUCH UNDERSIGNED MAY NOW OR HEREAFTER HAVE AGAINST
AGENT, DOCUMENTATION AGENT OR ANY LENDER, THEIR PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS, IF ANY, AND IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, AND ARISING FROM
ANY “LOANS”, INCLUDING, WITHOUT LIMITATION, ANY 

  
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CONTRACTING FOR, CHARGING, TAKING, RESERVING, COLLECTING OR RECEIVING INTEREST IN EXCESS OF THE HIGHEST LAWFUL RATE APPLICABLE, THE EXERCISE OF ANY RIGHTS AND REMEDIES UNDER THE REVOLVING CREDIT
AND SECURITY AGREEMENT, AS AMENDED BY THIS AMENDMENT, OR THE OTHER DOCUMENTS, AND NEGOTIATION FOR AND EXECUTION OF THIS AMENDMENT AND THIS CONSENT. 

[REMAINDER OF PAGE INTENTIONALLY BLANK; SIGNATURE
PAGES FOLLOW.] 

  
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 IN WITNESS WHEREOF, each of the parties hereto has executed this Amendment as of the Effective
Date. 
  

					
	BORROWERS:
		
		 	FLOTEK INDUSTRIES, INC., a Delaware corporation
			
		 	By:	 	 /s/ John Chisholm

		 	Name:	 	John Chisholm
		 	Title:	 	CEO and President
		
		 	FLOTEK CHEMISTRY, LLC an Oklahoma limited liability company
			
		 	By:	 	 /s/ John Chisholm

		 	Name:	 	John Chisholm
		 	Title:	 	CEO
		
		 	CESI MANUFACTURING, LLC, an Oklahoma limited liability company
			
		 	By:	 	 /s/ John Chisholm

		 	Name:	 	John Chisholm
		 	Title:	 	CEO
		
		 	MATERIAL TRANSLOGISTICS, INC., a Texas corporation
			
		 	By:	 	 /s/ John Chisholm

		 	Name:	 	John Chisholm
		 	Title:	 	CEO and President
		
		 	TELEDRIFT COMPANY, a Delaware corporation
			
		 	By:	 	 /s/ John Chisholm

		 	Name:	 	John Chisholm
		 	Title:	 	CEO and President

			
	TURBECO, INC., a Texas corporation
		
	By:	 	 /s/ John Chisholm

	Name:	 	John Chisholm
	Title:	 	CEO and President
	
	USA PETROVALVE, INC., a Texas corporation
		
	By:	 	 /s/ John Chisholm

	Name:	 	John Chisholm
	Title:	 	CEO and President
	
	FLORIDA CHEMICAL COMPANY, INC., a Delaware corporation
		
	By:	 	 /s/ John Chisholm

	Name:	 	John Chisholm
	Title:	 	CEO and President
	
	SITELARK LLC, a Texas limited liability company
		
	By:	 	 /s/ John Chisholm

	Name:	 	John Chisholm
	Title:	 	CEO
	
	FLOTEK ECUADOR MANAGEMENT LLC, a Texas limited liability company
		
	By:	 	 /s/ John Chisholm

	Name:	 	John Chisholm
	Title:	 	CEO and President
	
	FLOTEK ECUADOR INVESTMENTS LLC, a Texas limited liability company
		
	By:	 	 /s/ John Chisholm

	Name:	 	John Chisholm
	Title:	 	CEO and President

			
	FLOTEK EXPORT, INC., a Texas corporation
		
	By:	 	 /s/ John Chisholm

	Name:	 	John Chisholm
	Title:	 	CEO and President
	
	FLOTEK HYDRALIFT, INC., a Texas corporation
		
	By:	 	 /s/ John Chisholm

	Name:	 	John Chisholm
	Title:	 	CEO and President
	
	FRACMAX ANALYTICS, LLC, a Texas limited liability company
		
	By:	 	 /s/ John Chisholm

	Name:	 	John Chisholm
	Title:	 	CEO and President
	
	FC PRO, LLC, a Delaware limited liability company
		
	By:	 	 /s/ John Chisholm

	Name:	 	John Chisholm
	Title:	 	CEO
	
	ECLIPSE IOR SERVICES, LLC, a Texas limited liability company
		
	By:	 	 /s/ John Chisholm

	Name:	 	John Chisholm
	Title:	 	CEO

					
	GUARANTORS:
		
		 	FLOTEK PAYMASTER, INC.
			
		 	By:	 	 /s/ John Chisholm

		 	Name:	 	John Chisholm
		 	Title:	 	CEO and President
		
		 	FLOTEK INTERNATIONAL, INC.
			
		 	By:	 	 /s/ John Chisholm

		 	Name:	 	John Chisholm
		 	Title:	 	CEO and President

 
			
	AGENT:
	PNC BANK, NATIONAL ASSOCIATION
		
	By:	 	 /s/ Anita Puligandla

	Name:	 	Anita Puligandla
	Title:	 	Vice President

 
			
	
	 PNC Bank, National Association
 2100
Ross Avenue, Suite 1850

	Dallas, Texas 75201
	Attention:	 	      Relationship Manager (Flotek)
	Telephone:	 	      (214) 871-1256
	Facsimile:	 	      (214) 871-2015
	
	Revolving Commitment Percentage: 100%
	Revolving Commitment Amount $75,000,000vkin_ex101.htm

EXHIBIT 10.1
  
 AGREEMENT
  
 This Agreement is made and entered on the 15 day of September, 2017, by and between Altavista Energy, Inc., a Kansas corporation ("Seller"), and Mid-Con Drilling, LLC, a Kansas Limited Liability Company ("Buyer"), governed by the laws of the State of Kansas.
  
 In consideration of the mutual covenants and Agreements contained herein, the sufficiency and adequacy of which are mutually acknowledged, the Parties agree as follows: 
  
 1. SALE OF PROPERTY. Seller is the owner of 100% of the Working Interest in and to the oil and gas leases described in Exhibit A attached hereto (the "Leases"). Seller agrees to sell its working interest in the Leases in current condition together with all of its right, title and interest in and to all rights, privileges and easements appurtenant thereto, free and clear of all liens and encumbrances, to Buyer for the total sum of Five Hundred and Thirty Thousand Dollars ($530,000.00), including all personal property now in place on the Leases. The purchase price shall be paid as follows: 
  
 Five Hundred and Thirty Thousand Dollars ($530,000.00) at Closing to be paid in collected funds.
  
 Seller has full power and lawful authority to bargain, grant, sell, mortgage, assign, transfer, convey and grant 100% of the Working Interest in the Leases in the manner and form provided, without obtaining the waiver, consent or approval of any lessor, sublessor, governmental agency or entity or party whomever or whatever.
  
 2. ASSIGNMENT FORMS. Seller shall at Closing assign to Buyer in "as is" condition, free and clear of all liens and encumbrances, all its Working Interest in the Leases. All assignments will have an effective date of October 1, 2017.
  
 3. CLOSING. Closing shall be on or before Monday, October 2, 2017, at a time and location mutually agreeable to Buyer and Seller. Buyer shall deliver to Seller the full payment of Five Hundred and Thirty Thousand Dollars ($530,000.00) at Closing to be paid in collected funds.
  
 4. POSSESSION. Time is of the essence. Upon full payment due on Closing, Buyer shall be entitled to possession of the Leases and the personal property described in the Assignment forms on the date of Closing and not before. Failure to close on or before October 2, 2017, shall render this sale null and void.
  
 5. DEFAULT. This is an absolute sale and the Parties acknowledge they will change their respective positions at the signing of this Agreement and each commit to the performance of acts required of them by the terms of this Agreement. The Parties agree that it is not possible to quantify the losses which may accrue to the Seller or Buyer should either not perform this Agreement, and thus should either party default on this Agreement the Agreement becomes null and void and both Parties will have no further obligation to one another. 
  
  	 
	1
	 
 
	 

  
 6. SELLER RETENTION. Seller shall continue to operate and produce all of the leases until the date of Closing. Seller shall retain all production from said operations during such executory period and shall pay and be responsible for all expenses and liabilities to the effective date of the Assignment forms. Seller intends to sell all production on or before September 30, 2017. All continuing services such as utilities, pumper fees and related expenses shall become on the date of Closing Buyer's liability.
  
 7. TIME IS OF THE ESSENCE. It is very important to Seller that this sale is performed in a prudent and timely manner. Time is of the essence. Thus, all things which are required to be done by certain dates must be done; otherwise, such failure shall be deemed a material default.
  
 8. CONSENT OF SELLER. Although Buyer shall not take possession until Closing, Buyer shall be permitted to come upon the Leases to make such inspections of the properties as it may reasonably desire. Nothing shall be removed from any of the Leases while making such inspections and respect must be paid to the landowner rights where the Leases are located.
  
 9. JOINT DRAFTING. The Parties shall be considered joint drafters of this Agreement so as not to construe this contract against one Party as drafter more than the other.
  
 10. COUNTERPARTS. This Agreement may be signed in two or more counterparts. 
  
 11. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon, and inure to the benefit of, the Parties hereto and their respective successors, heirs, administrators and assigns. Either Buyer or Seller may assign all or any portion of their rights hereunder to a third party. 
  
 In Witness Whereof, the Parties have entered into this Agreement as of the date opposite the signatures below to be effective on the date last signed.
  
  
  	 	ALTAVISTA ENERGY, INC. - SELLER	
	 	 	 	 
	9/18/2017	By:	/s/ Douglas G. Evans	
	 Date
	  
	Douglas G. Evans 	 
	 	 	President	 
	 	 	 	 
	  
	 MID-CON DRILLING, LLC – BUYER
	  

	  
	  
	  
	  

	 September 15th, 2017
	 By:
	 /s/ James A. Doris
	  

	 Date
	  
	 James A. Doris 
	  

	  
	  
	 President of Sole Member, 
	  

	  
	  
	 Viking Energy Group, Inc.
	  

  
  	 
	2
	 
 
	 

  
 ACKNOWLEDGMENTS
  
  	 STATE OF KANSAS 
	 )
	  

	  
	 )ss: 
	 ACKNOWLEDGMENT FOR CORPORATION

	 COUNTY OF FRANKLIN 
	 )
	  

  
 Be it Remembered that on this _____ day of September, 2017, before me, the undersigned, a Notary Public, duly commissioned, in and for the county and state aforesaid, came Douglas G. Evans, President of Altavista Energy, Inc., a corporation of the State of Kansas, personally known to me to be such officer, and to be the same person who executed as such officer the foregoing instrument of writing on behalf of said corporation, and he duly acknowledged the execution of the same for himself and for said corporation for the uses and purposes therein set forth.
  
 IN WITNESS WHEREOF, I have hereunto set my hand and official seal on the day and year last above written.
  
 _______________________________________
 Notary Public
  
 Appointment/Commission Expires:
  
  	 STATE OF _________
	 )
	  

	  
	 )ss: 
	 ACKNOWLEDGMENT FOR LLC

	 COUNTY OF _______
	 )
	  

  
 Be it Remembered that on this _____ day of September, 2017, before me, the undersigned, a Notary Public, duly commissioned, in and for the county and state aforesaid, came James A. Doris, Member of Mid-Con Drilling, LLC, personally known to me to be such Member, and to be the same person who executed as such Member the foregoing instrument of writing on behalf of said limited liability company, and he duly acknowledged the execution of the same for himself and for said limited liability company for the uses and purposes therein set forth.
  
 In Witness Whereof, I have hereunto set my hand and official seal on the day and year last above written.
  
 _______________________________________
 Notary Public
  
 Appointment/Commission Expires:
  
  	 
	3
	 
 
	 

  
 EXHIBIT A
  
  	 BARKIS LEASE
	
		  

	 Dated:
	 April 28, 1983

	 Filed:
	  

	 Recorded:
	 Book 342, Page 380

	 Lessor:
	 Lloyd Barkis and Helen Barkis

	 Lessee:
	 Lloyd Barkis and Somerset Energy, Inc.

	 Legal Description:
	 The Northwest Quarter of Section 17, Township 16 South, Range 24 East, Miami County, Kansas

		  

	 NEVIUS LEASE
	
		  

	 Dated:
	 September 28, 1978

	 Filed:
	 October 18, 1978

	 Recorded:
	 Book 267, Page 566

	 Lessor:
	 Walter E. Nevius and Myrtle F. Nevius, husband and wife

	 Lessee:
	 Somerset Energy, Inc. and Somerset Associates, a limited partnership

	 Legal Description: 
	 The West Half of the Northeast Quarter (W/2 NE/4) of Section 17, Township 16, Range 24, 80 acres; AND Beginning at a point 1287.7 feet South of the Northeast corner of said Northeast Quarter (NE/4) of Section 17, said point being on the East line of said Section 17; thence South along the East line of said Section 17, a distance of 330 feet; thence West, parallel to the North line of said Section 17, a distance of 792 feet; thence North parallel to the East line of said Section 17, a distance of 330 feet; thence East parallel to the North line of said Section 17, a distance of 792 feet to the place of beginning, enclosing 6 acres, more or less, in Township 16 South, Range 24 East, Miami County, Kansas; AND Beginning at the Northeast corner of Section 17, Township 16 South, Range 24 East, Miami County, Kansas, thence South along the East line of said Section 17, a distance of 1287.7 feet; thence West parallel to the North section line of said Section 17, a distance of 792 feet; thence North parallel to the East line of said Section 17, a distance of 1287.7 feet to the North line of said Section 17; thence East along the North line of said Section 17, a distance of 792 feet to the place of beginning; enclosing 23.4 acres, more or less; AND the East Half of Southeast Quarter of Section 17, Township 16, Range 24, 80 acres, all in Miami County, Kansas. (Legal Description cited is from a title opinion dated April 22, 2015.) 

		  

	 STAHL LEASE
	
		  

	 Dated:
	 March 22, 1983

	 Filed:
	 September 8, 1983

	 Recorded:
	 Book 302 of Misc., Page 57

	 Lessor:
	 Bernard J. Stahl, a single man

	 Lessee:
	 Town Oil Company

	 Legal Description:
	 West Half of the Southwest Quarter of Section 17, Township 16 South, Range 24 East, Miami County, Kansas

  
  	 
	4
	 
 
	 

  
  	 BROWN LEASE
	
		  

	 Dated:
	 August 1, 1961

	 Filed:
	 August 8, 1961

	 Recorded:
	 Book 60, Page 123

	 Lessor:
	 Mildred Stewart, a widow

	 Lessee:
	 Lindel Fiehler and Robert Fiehler

	 Legal Description: 
	 The North Fractional Half of Section 19, Township 16 South,

		 Range 21 East, containing 278 acres more or less, Franklin County,Kansas.

		  

	 BIVINS LEASE
	
		  

	 Dated:
	 April 14, 1954

	 Filed:
	 July 16, 1954

	 Recorded:
	 Book 48 of Misc., Page 303

	 Lessor: 
	 Josephine E. Bivins and Ray Bivins, her husband, and Minnie Fiehler, a single woman

	 Lessee:
	 Mrs Joe E. Carroll

	 Legal Description: 
	 The North Half of the Southwest Quarter of Section Eighteen (18), Township Sixteen (16), Range Twenty-one (21), Franklin County, Kansas

		
		  

	 VAN HORN LEASES
	
		  

	 Dated:
	 June 21, 1978

	 Filed:
	 August 9, 1978

	 Recorded:
	 Book 88, Page 459

	 Lessor:
	 Grace I. Van Horn

	 Lessee:
	 Town Bros. Oil Co.

	 Legal Description:
	 The East Half of the Southeast Quarter of Section 13, Township 16 South, Range 20 East, Franklin County, Kansas

		
		  

	 Dated: 
	 February 15, 1977

	 Filed:
	 December 2, 1977

	 Recorded:
	 Book 86, Page 453

	 Lessor:
	 Grace I. Van Horn

	 Lessee:
	 Town Bros. Oil Co.

	 Legal Description: 
	 The South Half of the Southwest Fractional Quarter of Section 18, Township 16 South, Range 21 East, Franklin County, Kansas

  
  
  	 5

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