Document:

Exhibit
10.10

 

SECOND LIEN PREFERRED FLEET MORTGAGE

 

	
   

  	
   

  	
  ·

  	
   

  	
  UNITED
  STATES OF AMERICA

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  GLOBAL
  GEOPHYSICAL SERVICES, INC.

  	
   

  	
  ·

  	
   

  	
  STATE OF
  TEXAS

  
	
  3535
  Briarpark, Suite 200

  	
   

  	
   

  	
   

  	
   

  
	
  Houston, Texas 77042

  	
   

  	
  ·

  	
   

  	
  COUNTY OF HARRIS

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  TO

  	
   

  	
  ·

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  CREDIT
  SUISSE, CAYMAN ISLANDS

  	
   

  	
  ·

  	
   

  	
   

  
	
  BRANCH

  	
   

  	
   

  	
   

  	
   

  
	
  as
  Administrative Agent

  	
   

  	
  ·

  	
   

  	
   

  
	
  and
  Collateral Agent

  	
   

  	
   

  	
   

  	
   

  
	
  Eleven
  Madison Avenue

  	
   

  	
  ·

  	
   

  	
   

  
	
  New York, NY
  10010

  	
   

  	
   

  	
   

  	
   

  

 

THIS SECOND
LIEN PREFERRED FLEET MORTGAGE, on the Vessels hereinafter named and described,
which is dated effective as of January 16, 2008 (“Mortgage”) in the
amount of $50,000,000, plus interest and other charges, costs and fees and the
other Obligations (“Secured Amount”) under the Second Lien Credit
Agreement dated the date hereof (“Credit Agreement”), among GLOBAL GEOPHYSICAL
SERVICES, INC., a Delaware corporation (“Mortgagor”), the lenders from
time to time party thereto (“Lenders”) and CREDIT SUISSE, CAYMAN ISLANDS
BRANCH, as Administrative Agent and Collateral Agent for such Lenders (“Mortgagee”).
Capitalized terms used but not defined herein are used as defined in the Credit
Agreement.

 

W I T N E S S E T H:

 

WHEREAS,
Mortgagor is the sole owner of the whole of the Vessels hereinafter named and
described and is justly and truly indebted to Mortgagee for the Secured Amount
which is due and payable in the amounts and upon the terms and conditions set
forth in the Credit Agreement and the other Loan Documents (“Documents”)
and has agreed to give this Mortgage in order to secure the Secured Amount and
the Documents evidencing the same and has authorized and directed the execution
and delivery hereof.

 

WHEREAS, the
Mortgagor, the Lenders and the Mortgagee have entered into an Intercreditor
Agreement dated the date hereof (“Intercreditor Agreement”) which
governs the rights and remedies of the Mortgagee and Lenders under this
Mortgage and the other Documents in relation to, among other things, the First
Lien Preferred Fleet Mortgage granted by Mortgager in favor of Credit Suisse,
Cayman Islands Branch, as Administrative Agent and Collateral Agent for the
lenders from time to time party to the Credit Agreement.

 

 

NOW,
THEREFORE, in consideration of the premises and for other good and valuable
consideration, the receipt of which is hereby acknowledged, and to secure the
Secured Amount and the Documents hereinabove referred to and the performance of
all covenants therein and herein contained, Mortgagor, by these presents,
mortgages and conveys unto Mortgagee, its heirs, executors, administrators,
successors, or assigns, the whole of the Vessels named below and further
described in its last marine document issued and identified as follows:

 

	
  Type

  	
   

  	
  Name

  	
   

  	
  Official Number

  	
   

  	
  Tonnage Gross

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  M/V

  	
   

  	
  MS. CORDELIA

  	
   

  	
  1196009

  	
   

  	
  245

  	
   

  
	
  M/V

  	
   

  	
  LORI B

  	
   

  	
  1111303

  	
   

  	
  33

  	
   

  
	
  M/V

  	
   

  	
  JAMES H. SCOTT

  	
   

  	
  1172960

  	
   

  	
  73

  	
   

  
	
  M/V

  	
   

  	
  GLOBAL
  VISION

  	
   

  	
  1058458

  	
   

  	
  38

  	
   

  
	
  M/V

  	
   

  	
  GLOBAL QUEST

  	
   

  	
  1050795

  	
   

  	
  47

  	
   

  
	
  M/V

  	
   

  	
  GLOBAL SCOUT

  	
   

  	
  1071699

  	
   

  	
  91

  	
   

  

 

(each a “Vessel” and
collectively, the “Vessels”) together with all auxiliaries, tackle,
apparel, accessories and appurtenances, and additional renewals, improvements
and replacements now or hereafter belonging thereto, whether or not removed
therefrom, all bunkers, lube oil or other supplies and all freights,
sub-freights or charter hire, all of which shall be deemed to be included in
the term “Vessel” herein; provided that the foregoing shall not include
any property other than each Vessel, including its earned freights, within the
meaning of 46 U.S.C. §31322(a).

 

TO HAVE AND TO
HOLD all and singular the above described Vessels unto Mortgagee, its heirs,
executors, administrators, successors or assigns forever.

 

Provided,
however, that if Mortgagor, its heirs, executors, administrators, successors or
assigns, shall pay the aforesaid indebtedness and the Documents evidencing the
same and shall perform and observe all and singular the terms, covenants and
agreements contained in said Documents and in this Mortgage, then this Mortgage
shall cease; otherwise it shall remain in full force and effect. Mortgagor
agrees to perform and to observe the terms, covenants and agreements contained
in said Documents, and in this Mortgage and to hold the Vessels subject
thereto.

 

Nothing herein
shall be deemed or construed subject to the lien hereof other than a Vessel
eligible for registration under the laws of United States.

 

The terms and
conditions of this Mortgage are as follows:

 

2

 

ARTICLE I.

 

Particular Covenants
of Mortgagor.

 

1.                                       Mortgagor
shall pay the Secured Amount evidenced by the Documents secured by the Mortgage
and will observe, perform and comply with all the covenants, terms and
conditions herein and in the said Documents, expressed, or implied, on its part
to be observed, performed, or complied with.

 

2.                                       Mortgagor
is and shall continue to be a citizen of the United States entitled to own and
operate the Vessels under its marine documents, which Mortgagor shall maintain
in full force and effect; and all action necessary for the execution, delivery
and validity hereof and of said Documents has been duly taken.  Mortgagor shall not remove any Vessel from
United States of America waters during the term of this Mortgage.

 

3.                                       Mortgagor
lawfully owns and possesses the whole of the Vessels free of all prior or
competing liens and encumbrances whatsoever, and shall warrant and defend title
to and possession of all and every part thereof for the benefit of Mortgagee
against all persons whomsoever except as permitted by the Documents.

 

4.                                       Mortgagor
shall comply with and not permit the Vessels to be operated contrary to any
provision of the laws, treaties, conventions, rules, regulations or orders of
the United States of America and/or any other jurisdiction wherein operated,
and/or of any department or agency thereof, and shall not remove the Vessels
from the limits of the United States without the prior written consent of
Mortgagee.  Mortgagor shall do everything
necessary to establish and maintain this Mortgage as a Second Lien Preferred
Fleet Mortgage on each Vessel and shall maintain in the documentation of each
Vessel as a Vessel of the United States of America or the port of documentation
without the prior written consent of Mortgagee.

 

5.                                       Neither
the Mortgagor nor the master or operator of the Vessels, or any one acting on
their behalf, has or shall have any right, power, or authority to create, incur
or permit to be placed or imposed or continued upon the Vessels any lien
whatsoever which would or might be prior to or on a parity with or which might
impair the lien of this Mortgage, other than to secure the Mortgagee, its
heirs, executors, administrators, successors or assigns, and liens for damages
arising out of tort, stevedores’ and crews’ wages, salvage and general average
except as permitted by the Documents.

 

6.                                       Mortgagor
shall pay and discharge when due and payable from time to time, all taxes,
assessments, governmental charges, fines and penalties lawfully imposed upon
the Vessels, and upon any income therefrom except as permitted by the
Documents.  However, the right of
Mortgagor to contest the validity of any claim contemplated by this Section 6
or the Documents shall in no event be construed as permitting any libel,
attachment, or other seizure of the Vessels under process or color

 

3

 

of legal authority to remain
undissolved or undischarged, or in any respect modify or alter any obligation
of Mortgagor under Section 8 of this Article I.

 

7.                                       Mortgagor
will place, and until this Mortgage has been discharged of record will retain,
a properly certified copy of this Mortgage on board each Vessel with its papers
and will cause such certified copy and such papers to be exhibited to any and
all persons having business with the Vessel which might give rise to any lien
thereon other than liens for damages arising out of tort, stevedores’ and crews’
wages, salvage and general average.

 

8.                                       If,
notwithstanding the limitation against creating liens against any Vessel, it is
libeled, attached, detained, seized or levied upon or taken into custody under
process or under color of any authority (“Order”), Mortgagor shall
immediately notify Mortgagee by fax and email, confirmed by letter, and
promptly discharge or release the Vessel therefrom, and in any event within
fifteen (15) days after such Order; provided, however, if Mortgagor or any
charterer of the Vessel invokes the benefits of any applicable limitation of
liability statutes providing for the limitation of the liability of ship owners
in compliance with such Order, then the release and discharge of the Vessel
shall be completed within twenty (20) days from the date of the required
payment into the Registry of the Court or for the giving of a stipulation for
the payment into the Registry of the Court of the amount of the value of
petitioner’s interest in the Vessel and her pending freight, if any; and
provided further that in any such proceeding to limit liability, the Vessel
shall not be surrendered or offered to be surrendered to a trustee without the
prior written consent of Mortgagee.

 

9.                                       Mortgagor
shall at all times afford Mortgagee complete opportunity to inspect each Vessel
and its cargoes and papers; and shall certify upon Mortgagee’s request, but not
more frequently than monthly, that all wages and all other claims whatsoever,
which might have given rise to a lien upon the Vessel, have been paid.

 

10.                                 Except
as otherwise provided herein or in the Documents, Mortgagor shall not, without
the prior written consent of Mortgagee, which consent shall not be unreasonably
withheld, sell or mortgage any Vessel or any interest therein to any persons
whomsoever, or charter any Vessel except to persons entitled by law to operate
same for uses lawful for a United States Vessel and then only provided the
insurance thereon as required by Section 12 of this Article I be
unaffected thereby or adequately replaced.

 

11.                                 From
time to time Mortgagor shall execute and deliver such other and further
instruments and assurances as in the opinion of Mortgagee’s counsel may be
required to subject the Vessels more effectually to the lien hereof; to
maintain and effectuate this mortgage as a Second Lien Preferred Fleet Mortgage
on the Vessels; and for operation of the Vessels by Mortgagee, as herein
provided, and to effectuate sales as provided in Paragraph (b) of Section 5
of Article II hereinafter.

 

4

 

12.                                 (a)                                  So
long as the Documents secured hereby remain outstanding or there remains any
amount due, payment whereof is secured by the lien or security interest of this
Mortgage, Mortgagor, at its own expense or at the expense of any charterer,
shall keep each Vessel insured for an amount not less than its full insurable
value, provided however, that the aggregate amount of such insurance in respect
of each Vessel shall never be less than the aggregate outstanding principal
amount of the Documents secured hereby, against the risks of fire, explosion
and marine perils (including without limitation a collision or Four-Fourths
Running Down Clause and Inchmaree Clause and against all other risks
customarily insured on a Vessel of this type and size, including but not
limited to strikes, riots and civil commotion coverage, and in the amount of
$5,000,000.00, including excess P. & I. coverage against the P. &
I. risks customarily covered. Mortgagor may eliminate from the Hull and P. &
I. insurance any risks ordinarily covered thereunder, provided that it insures
such risks under a separate or different form of policy; and the P. &
I. insurance as to coverage of Mortgagor’s employees, if any, may be excess
insurance over any Employer’s Liability and/or Voluntary Workmen’s Compensation
Insurance if provided by Mortgagee. 
Where the valuation of any Vessel in any policy of insurance required
hereunder may be pertinent, such valuation shall not exceed the amount insured
thereby, and policy franchises or deductible averages shall not exceed the sum
of $100,000.00 as to each loss covered by hull insurance and $100,000.00 as to
each loss covered by P. & I. insurance.  Excess liability, increased value,
disbursements and other forms of total loss insurance, in such amounts as
marine underwriters may allow, may be carried as part of the total amount of
the hull insurance required hereunder.

 

(b)                                 Mortgagor
may select its own insurance brokers (unless such brokers are unsatisfactory to
Mortgagee) and all such policies must be through such brokers on policy forms
approved by Mortgagee and from companies in good standing and satisfactory to
Mortgagee.  Certificates for all
insurance herein provided for and receipts for the payment of the premiums
thereon shall be delivered to Mortgagee.

 

(c)                                  All
insurance policies must be issued in the joint names of Mortgagor and Mortgagee
and be payable to them as their respective interests may appear.  The interest of Mortgagee is hereby declared
to be the unpaid balance of the principal and interest of the Documents
outstanding and any unpaid amounts secured by the lien of this Mortgage, and in
the event of a total loss of a Vessel, actual or constructive, as constructive
total loss is defined in the policies of insurance procured hereunder,
Mortgagee shall be paid first the amount of its interest in such insurance with
preference to and priority over Mortgagor and any person claiming under or from
Mortgagor, and any balance shall be paid to Mortgagor.  If such a total loss of a Vessel shall occur,
Mortgagor and Mortgagee shall join in a payment order directing the interested
underwriter to pay the proceeds of the insurance applicable to such total loss
in the manner herein provided.  The
proceeds of all other insurance shall be paid to Mortgagor and Mortgagee
jointly, but in any event and whether or not Mortgagor be in default under this
Mortgage, Mortgagee shall make available to Mortgagor by an appropriate payment
order directed to the interested underwriter the proceeds of all insurance to

 

5

 

pay any outstanding bill for
repairing the Vessel and/or outstanding third party claim, provided that
Mortgagor must pay the amount of the deductible; or to reimburse Mortgagor in
whole or in part for any expenditures Mortgagor may have made for repairing the
Vessel and/or to pay any third party claim, but Mortgagee, as a condition
precedent to such reimbursement of Mortgagor, may require Mortgagor to furnish
Mortgagee with receipted bills or waivers of liens against the Vessel for
repairing the Vessel and/or waivers of liens or appropriate releases for the
third party claims, or in either event to furnish or pay the applicable deductible
average.  If Mortgagor does not complete
repairs to the Vessel or pay third party claims, or in either event furnish
and/or pay the deductible, then Mortgagee shall be entitled to receive the
proceeds of any insurance applicable to such loss and upon payment shall credit
the net proceeds of any insurance as provided in Section 7 of Article II
hereinafter.

 

(d)                                 Mortgagor
will maintain all such insurance in full force and effect and it will not take
or allow any act of omission or commission which will in any way invalidate,
void or suspend any insurance herein provided to be maintained.  Each policy of insurance required to be
maintained by Mortgagor hereunder shall be endorsed with the undertaking of the
insurance company or underwriters issuing such policy to the effect that such
policy shall not lapse, expire, terminate or be canceled for any reason
whatsoever without at least ten (10) days prior written notice to
Mortgagee.  Mortgagor shall, within a
reasonable period of time, pay for any material loss of or damage to any Vessel
by any cause whatsoever, and shall discharge or obtain the release of any third
party claims whatsoever which would constitute a material prior or competing
lien against any Vessel, not covered by insurance or for which no reimbursement
or incomplete reimbursement is secured from the insurance.

 

13.                                 Mortgagor
shall, except as permitted by the Documents, at its own expense, insofar as is
practicable and material, perform all ordinary maintenance on the Vessels and
make all proper renewals and replacements necessitated by wear, tear, normal
depreciation and casualty.  In the event
of material damage to any Vessel less than a total loss, actual or
constructive, as constructive total loss is defined in the policy or policies
of hull insurance procured hereunder, Mortgagor shall make and pay for the
repairs necessitated thereby, and in that event Mortgagor shall pay the amount
of the deductible average provided in the insurance, and whether or not
Mortgagor be in default under the terms of this Mortgage, Mortgagor shall be
entitled to receive the proceeds of insurance applicable to the repaired damage
in the manner provided in Section 12(c) hereinabove; and if Mortgagor
does not make such repairs, Mortgagor nevertheless shall remain bound for the
amount of the deductible average provided in such insurance.  Mortgagor will not make or permit to be made
any substantial change in the structure or type of any Vessel or change in the
rig of the Vessel.

 

14.                                 The
Mortgagor shall place, and at all times and places will retain, a properly
certified copy of this Mortgage on board each Vessel and will cause such
certified copy and the Vessel’s marine documents to be exhibited to any and all
persons having business therewith which might give rise to any lien thereon,
and to any

 

6

 

representatives of the
Mortgagee; and will place and keep prominently displayed in the chart room and
in the Master’s cabin of said Vessel a framed printed notice reading as follows:

 

NOTICE OF MORTGAGE

 

THIS VESSEL IS
COVERED BY A SECOND LIEN PREFERRED FLEET MORTGAGE IN FAVOR OF CREDIT SUISSE,
CAYMAN ISLANDS BRANCH, AS COLLATERAL AGENT (THE “MORTGAGEE”), UNDER AUTHORITY
OF CHAPTER 313, TITLE 46 OF THE UNITED STATES CODE.  UNDER THE TERMS OF SAID MORTGAGE, NEITHER THE
OWNER, ANY CHARTERER, THE MASTER OF THIS VESSEL NOR ANY OTHER PERSON HAS ANY
RIGHT, POWER OR AUTHORITY TO CREATE, INCUR OR PERMIT TO BE PLACED OR IMPOSED
UPON THIS VESSEL ANY LIEN WHATSOEVER OTHER THAN THE LIENS OF THE AFORESAID
MORTGAGE AND LIENS FOR CREW WAGES, GENERAL AVERAGE AND SALVAGE.

 

ARTICLE II.

 

Events of Default and
Remedies of Mortgagee.

 

l.                                          In
the event that Mortgagor fails to procure and/or maintain insurance, as
provided in Section 12 of Article I hereinabove, Mortgagee may, at
its option, without any obligation so to do, and without waiver of any of its
rights hereunder, procure such insurance as it deems necessary to protect its
security and the cost of the same shall be charged against Mortgagor and be
promptly repaid to Mortgagee with interest thereon at the same rate as is
provided upon the principal amount of this Mortgage, and such insurance costs
and the interest thereon shall constitute a debt secured by the lien of this
Mortgage.  Within fifteen (15) days after
any procurement of insurance by Mortgagee under this section, Mortgagee shall
give Mortgagor written notice thereof.

 

2.                                       In
the event that any Vessel is arrested or detained by a Marshal or other officer
of any court of law, equity, or admiralty jurisdiction, or by governmental or
other authority, on a claim for which Mortgagor is alleged to be liable, and
shall not be released from arrest or detention as and within the time
prescribed by the provisions of Section 8 of Article I hereinabove,
Mortgagor hereby authorizes and empowers Mortgagee, by its duly appointed
representative, in the name of Mortgagor, or its heirs, executors,
administrators, successors, or assigns, to apply for, claim and receive, or
take possession of the Vessel with all rights and powers Mortgagor, its heirs,
executors, administrators, successors or assigns, might have, possess, and
exercise in any such event. The power hereby granted shall be irrevocable and
may be exercised not only by said representatives of Mortgagee, but also by an
appointee or appointees of such

 

7

 

representatives, with full
power of substitution, to the same extent as if such appointee or appointees
had been named as one of the attorneys above named by express designation.  Mortgagor also authorizes and empowers any
person duly acting under the provisions of this Section 2 of Article II
to appear in the name of Mortgagor, its heirs, executors, administrators,
successors or assigns, in any court where a suit may be pending against
Mortgagor, or against any Vessel because of or on account of any alleged lien
against the Vessel and from which it has not been released, and to take such
proceedings as such person may deem proper for the defense of such suit and for
the release of the Vessel therefrom.  All
expenditures or liabilities made or incurred by them, or any of them, in the
premises, in good faith, shall be debts due from Mortgagor to Mortgagee, and
shall be promptly repaid by Mortgagor to Mortgagee with interest thereon at the
same rate as is provided upon the principal amount of this Mortgage, and shall
be secured by the lien of this Mortgage.

 

3.                                       In
the event Mortgagor fails to properly maintain any Vessel and make proper
repairs, renewals and replacements, as required by the provisions of Section 13
of Article I hereinabove, and such failure shall continue for a period of
thirty (30) days after written notice by Mortgagee, Mortgagee may, at its
option, without any obligation to do so and without waiver of any of its rights
hereunder, perform such maintenance and make such repairs, renewals and
replacements and the cost of the same shall be charged against Mortgagor and be
promptly repaid to Mortgagee with interest thereon at the same rate as is provided
upon the principal amount of this Mortgage, and all such expenditures and the
interest thereon shall constitute a debt from Mortgagor to Mortgagee secured by
the lien of this Mortgage.

 

4.                                       An
“Event of Default” means and includes the following:

 

(a)                                  Failure
to pay any installment of principal or interest on the Documents secured hereby
when due;

 

(b)                                 Failure
by Mortgagor in the observance of any covenants contained in this Mortgage or
the Documents, if such failure shall continue for a period of fifteen (15) days
after written notice by Mortgagee; and

 

(c)                                  The
Mortgagor shall remove or attempt to remove any Vessel beyond the trading
limits as set forth in the policies of insurance referenced in Section 12
of Article 1 hereof; or shall abandon the Vessel in a foreign port.

 

5.                                       After
the occurrence and during the continuance of an event of default specified in Section 4
of this Article II, Mortgagee, without limitation to the remedies set
forth in the Documents:

 

(a)                                  May take
any Vessel with or without legal process wherever it is and Mortgagor, or other
person in possession, shall forthwith surrender possession of the Vessel to
Mortgagee, upon demand; Mortgagee then shall take or may hold, lay up,

 

8

 

lease, operate, manage and
control or otherwise use the Vessel in any service and trade for which the
Vessel is suited by virtue of the Vessel’s design and construction as Mortgagee
may elect, provided that such service and trade is in accordance with the laws
and regulations applicable, and may insure the Vessel and make all necessary or
proper repairs and useful alterations, additions, betterments and improvements
thereto as to it may seem judicious, and shall be entitled to collect and
receive all tolls, earnings, income, rents, issues and profits of, or arising
out of the operation or management of the Vessel and after deducting all
expenses of operation and/or repairs, maintenance, alterations, additions,
betterments and improvements and all payments for taxes, insurance, as well as
just and reasonable compensation for its own services, and for all its agents,
attorneys and employees, Mortgagee shall apply the net money arising, as
aforesaid, as provided by Section 6 of this Article II;

 

(b)                                 May take
any Vessel with or without legal process wherever it may be and Mortgagor or
other person in possession shall forthwith surrender possession of the Vessel
upon demand of Mortgagee and Mortgagee may sell the Vessel at public sale, free
from any and all claims of or by Mortgagor in law, in equity, in admiralty or
by statute, which sale shall be made at a time and place and upon such notice
as may be required by law; if not governed by any applicable provisions of law,
such sale shall be made at such time and place as Mortgagee may fix, after
notice of the time, place and terms of said sale, together with a description
of the property to be sold, has been published, after notice has been mailed to
Mortgagor, for six (6) consecutive days (except Sunday) preceding the date
for such sale, in a newspaper printed in the English language and customarily
published on each business day and of general circulation in Harris County,
Texas, and in a newspaper published in the county or parish in which the place
of sale is located if other than the said county; Mortgagee and its heirs,
executors, administrators, successors or assigns hereby are appointed the true
and lawful attorneys irrevocable of Mortgagor in its name and stead to make all
necessary transfers of property thus sold, and for the purpose it or they will
execute all necessary instruments of assignment and transfer, Mortgagor hereby
ratifying and confirming all that its said attorneys shall lawfully do by
virtue hereof;

 

(c)                                  May proceed
to protect and enforce its rights under this Mortgage, including all rights and
remedies arising by reason of the applicable law of the forum, by suit or suits
in equity or actions at law, or by suit in admiralty in rem or in personam,
whether for specific performance or for the enforcement of any covenant or
agreement contained herein or for any foreclosure hereunder or for the
enforcement of any proper legal or equitable remedy or remedy in admiralty as
Mortgagee, being advised by counsel, shall deem most effectual to protect and
enforce the rights aforesaid; in connection with any such proceeding Mortgagee
shall be entitled, as a matter of right, to the appointment of a receiver of
the mortgaged property and tolls, rents, income, revenues, profits and earnings
thereof;

 

(d)                                 Mortgagee
as a condition precedent to exercising the power of sale hereby granted or
seeking to sell the mortgaged property, pursuant to judicial

 

9

 

proceedings, shall, except as
otherwise provided herein, be required to give Mortgagor any notice declaring
the principal of the Documents secured by the lien of this Mortgage to be due
and payable immediately;

 

(e)                                  May proceed
personally against Mortgagor in any court of competent jurisdiction to recover,
with interest thereon at the same rate as is provided upon the principal amount
of this Mortgage, and damages which Mortgagee may sustain by reason of any
infraction by Mortgagor of any obligations contained in Sections l to 13
inclusive of Article I hereinabove.

 

Each and every
power or remedy herein conferred on Mortgagee shall be cumulative and in
addition to all other powers or remedies now or hereafter existing in
admiralty, in equity, in law or by statute and may be exercised as often as may
be deemed expedient by Mortgagee.  No
delay or omission by Mortgagee shall impair any right, power or remedy and no
waiver of any default shall waive any other default.

 

6.                                       If
at any time after one or more events of default enumerated in Section 4 of
this Article II shall have occurred and before the Vessel shall have been
sold pursuant to any provision of this Article II (whether or not
proceedings for foreclosure shall have been commenced and/or prosecuted in any
court) Mortgagor shall make good such default or defaults, including without
limitation, payment of any past due installment of principal and interest on
the Documents secured by the lien of this Mortgage, and reimbursement of any
advances and expenditures made by Mortgagee in accordance with the provisions
of Sections l, 2 and 3 of this Article II, with interest thereon, then and
in every such case Mortgagee shall waive such default or defaults and its or
their consequences and shall rescind any action theretofore taken by it,
including without limitation, the acceleration of payment of the Documents
secured by this Mortgage; but no such waiver shall extend to or affect any
subsequent default or impair any right consequent thereon.

 

7.                                       The
net proceeds of any judicial or other sale, of any charter, managements or
other use of any Vessel by Mortgagee, of any claim for damages to the Vessel
and of any insurance received by Mortgagee (except to the extent that such
insurance proceeds are to be paid to Mortgagor in accordance with any
provisions of this Mortgage) shall be applied as follows:

 

First:  To the payment of all attorney’s fees, court
costs, and other expenses due or incurred or which may have been paid by
Mortgagee for the collection of any unpaid principal of the Documents and the
accrued interest thereon secured by the lien of this Mortgage;

 

Second:  To the payment of the whole amount then owing
and unpaid upon the Documents for principal and accrued interest thereon and,
in case such proceeds shall be insufficient to pay the whole amount so due and
unpaid, then to the payment of such principal and interest without preference
or priority of principal over interest or of interest

 

10

 

over principal or of any
installment of interest or principal over any other installment of interest or
principal, ratably to the aggregate of such unpaid principal and the accrued
and unpaid interest;

 

Third:  To the payment of any claim or the balance of
any claim which Mortgagee may have for reimbursement for advances or
expenditures, with interest thereon at the same rate as is provided upon the
principal amount of this Mortgage, which Mortgagee has made under the
provisions of Sections l, 2 and 3 of this Article II, and for any
infraction by Mortgagor of Sections l to 13 inclusive, of Article I
hereinabove.

 

Fourth:  To the payment of any surplus thereafter
remaining to Mortgagor or to whomsoever may be entitled thereto.

 

Should there
not be any funds or insufficient funds to liquidate all valid claims of
Mortgagee, then Mortgagor shall remain bound to Mortgagee for any unpaid amount
or balance due and shall be liable to pay said amount to Mortgagee with
interest thereon as provided upon the principal amount of this Mortgage but, if
after payment in full, any amount remains, it shall be paid to Mortgagor.

 

8.                                       Mortgagor
shall not at any time insist upon or plead or in any manner whatever claim or
take the benefit or advantages of any stay or extension, valuation or
appraisement law for the purpose of preventing or hindering the enforcement or
foreclosure of this Mortgage, and it covenants that it will not hinder, delay
or impede the execution of any power herein granted and delegated to Mortgagee,
but that it will suffer and permit the execution of every such power as though
no such law or laws had been made or enacted, nor after any sale or sales will
it claim or exercise any right under any statute or otherwise to redeem the
property so sold or any part thereof.

 

9.                                       Notwithstanding
any other provision herein to the contrary, no sale, charter, transfer or other
disposition of any Vessel or any interest therein may be made to any entity not
a citizen of the United States within the meaning of Section 2 of the
Shipping Act, 1916, as amended, without the approval of the Secretary of
Transportation of the United States.

 

ARTICLE III.

 

Possession until
Default.

 

Until an Event
of Default shall have happened and shall have continued for the time, if any,
specified with reference thereto in Article II hereinabove, Mortgagee
shall permit Mortgagor and Mortgagor shall have the right to possess, use,
manage, operate and enjoy the Vessels and to take, collect and receive, and use
the freights, issues, rents, income and profits thereof and apply the same to
all legitimate uses.

 

11

 

ARTICLE IV.

 

Information for
Endorsement of Mortgage.

 

For purposes
of this Mortgage and the recordation and endorsement of this Mortgage on the
documents of the Vessels as required by the Ship Mortgage Act, the total amount
of the Mortgage is Fifty Million Dollars ($50,000,000), plus interest and
performance of mortgage covenants.

 

The Mortgagor
holds an interest of 100% of each Vessel and 100% of such interest is subject
to this Mortgage.

 

The addresses
of the parties are:

 

Mortgagor:

 

Global
Geophysical Services, Inc.

3535
Briarpark, Suite 200

Houston, Texas
77042

Fax No. (713)
979-1560

 

Mortgagee:

 

Credit Suisse,
Cayman Islands Branch

Eleven Madison
Avenue

New York, NY
10010

Attention of
Agency Group

Fax No. (212)
325-8304

 

Although it is
not intended that this Mortgage include any property other than the Vessels, if
any determination is made at any time for any reason that this Mortgage does
include any property other than a “Vessel”, then such property may be
separately discharged by the payment of .01% of the said total amount.

 

ARTICLE V.

 

Intercreditor
Agreement.

 

This Mortgage is subject to the terms and
conditions of the Intercreditor Agreement. 
If any provision of the Intercreditor Agreement conflict with this
Mortgage, the Intercreditor Agreement shall govern.

 

12

 

ARTICLE VI.

 

Sundry Provisions.

 

l.                                          All
covenants and agreements of Mortgagor herein contained shall bind Mortgagor,
its heirs, executors, successors or administrators or assigns forever, and
shall inure to the benefit or Mortgagee and its heirs, executors,
administrators, successors or assigns forever. 
Following any assignment of this Mortgage, and reference herein to
Mortgagee shall be deemed to refer to the “assignee”.

 

2.                                       Notwithstanding
any contrary statement contained herein regarding the maturity of this
Mortgage, it shall remain in full force and effect until, but only until, the
payment in full of the principal and all interest which will become due on the
Documents secured by the lien of this Mortgage and the payment of any other sum
or debt which may become due pursuant to the provisions of this Mortgage and
which is secured by the lien hereof and until, but only until, the full and
final performance of all covenants contained in this Mortgage.

 

3.                                       Any
notice or demand which by any provision of this Mortgage is required or
permitted to be given, delivered or served on Mortgagor may be given, delivered
or served by being deposited, postage prepaid, in a post office letter box
addressed (until another address is filed by Mortgagor in writing with
Mortgagee for the purpose of this section), as follows: Global Geophysical
Services, Inc., 3535 Briarpark, Suite 200, Houston, Texas 77042, (Fax
No. (713) 979-1560).  Any notice or
demand which by any provision of this Mortgage is required or permitted to be
given, delivered or served on Mortgagee may be given, delivered or served by
being deposited, postage prepaid, in a post office letter box addressed (until
another address is filed by Mortgagee in writing with Mortgagor for the purpose
of this Section 3) as follows: Credit Suisse, Cayman Islands Branch,
Eleven Madison Avenue, New York, NY 10010, Attention of Agency Group (Fax No. (212)
325-8304).

 

4.                                       If
any provision of this Mortgage, or any obligation, right or remedy created by
this Mortgage be declared invalid in any legal proceedings, no other valid
obligation, right or remedy created by this Mortgage shall be affected thereby.

 

5.                                       This
instrument may, for convenience, be executed in any number of original
counterparts, each of which shall be deemed an original and all of which taken
together shall be and constitute one instrument.

 

13

 

IN WITNESS
WHEREOF, the Mortgagor has caused this instrument to be executed all as of the
day and year first above written.

 

	
  WITNESSES:

  	
   

  	
  GLOBAL  GEOPHYSICAL
  SERVICES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Craig M.
  Murrin

  
	
   

  	
   

  	
   

  	
  Vice
  President, Secretary and General

  
	
   

  	
   

  	
   

  	
  Counsel

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Sworn to and
  Subscribed before me

  this 16th day of January 2008

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  

 

 

ACKNOWLEDGMENT

 

STATE OF TEXAS

 

COUNTY OF HARRIS

 

BE IT KNOWN
that on this 4th day of January 2008, before me personally appeared:

 

Craig Murrin

 

to me known, who, after being
by me duly sworn, did depose and say:

 

That he is
Vice President, Secretary and General Counsel of Global Geophysical Services, Inc.
which is described in and who executed the within instrument, and that he
signed his name to the said instrument and acknowledged the within instrument
at the direction of the Board of Directors of said corporation.

 

IN TESTIMONY
WHEREOF, I have hereto set my hand and seal on this day and year first above
written.

 

 

	
   

  	
   

  
	
   

  	
  NOTARY PUBLICExhibit 10.14

 

STOCKHOLDERS
AGREEMENT

 

GLOBAL GEOPHYSICAL SERVICES, INC.

 

Dated as of November 30,
2006

 

 

Table of Contents

 

	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  1.

  	
  Restrictions on
  Transfer of Capital Stock

  	
  1

  
	
   

  	
  1.1

  	
  Restriction on
  Transfers by the Company Stockholders

  	
  1

  
	
   

  	
  1.2

  	
  Permitted Pledges

  	
  1

  
	
   

  	
  1.3

  	
  Estate Planning
  Transfers

  	
  2

  
	
   

  	
   

  	
   

  
	
  2.

  	
  Right of First Refusal

  	
  2

  
	
   

  	
   

  	
   

  
	
  3.

  	
  Tag-Along Rights

  	
  3

  
	
   

  	
  3.1

  	
  Tag Along Rights

  	
  3

  
	
   

  	
  3.2

  	
  Number of Shares

  	
  4

  
	
   

  	
  3.3

  	
  Terms and Conditions

  	
  4

  
	
   

  	
   

  	
   

  
	
  4.

  	
  Company Sale

  	
  5

  
	
   

  	
   

  	
   

  
	
  5.

  	
  Preemptive Rights

  	
  6

  
	
   

  	
   

  	
   

  
	
  6.

  	
  Actions to Approve
  Certain Matters

  	
  6

  
	
   

  	
   

  	
   

  
	
  7.

  	
  Registration Rights

  	
  7

  
	
   

  	
  7.1

  	
  Requests by Kelso

  	
  7

  
	
   

  	
  7.2

  	
  Request by Non-Kelso
  Stockholders

  	
  10

  
	
   

  	
  7.3

  	
  Registration Statement
  Form

  	
  10

  
	
   

  	
  7.4

  	
  Expenses

  	
  11

  
	
   

  	
  7.5

  	
  Priority in Demand
  Registrations

  	
  11

  
	
   

  	
  7.6

  	
  Incidental
  Registrations

  	
  11

  
	
   

  	
  7.7

  	
  Registration Procedures

  	
  13

  
	
   

  	
  7.8

  	
  Underwritten Offerings

  	
  17

  
	
   

  	
  7.9

  	
  Holdback Agreements

  	
  18

  
	
   

  	
  7.10

  	
  Preparation; Reasonable
  Investigation

  	
  19

  
	
   

  	
  7.11

  	
  No Grant of Future
  Registration Rights

  	
  19

  
	
   

  	
  7.12

  	
  Indemnification

  	
  20

  
	
   

  	
   

  	
   

  	
   

  
	
  8.

  	
  Stock Certificate
  Legend

  	
  23

  
	
   

  	
   

  	
   

  
	
  9.

  	
  Covenants;
  Representations and Warranties

  	
  24

  
	
   

  	
  9.1

  	
  New Stockholders

  	
  24

  
	
   

  	
  9.2

  	
  No Other Arrangements
  or Agreements

  	
  24

  
	
   

  	
  9.3

  	
  Additional
  Representations and Warranties

  	
  24

  
	
   

  	
   

  	
   

  	
   

  
	
  10.

  	
  Amendment and
  Modification

  	
  25

  
	
   

  	
   

  	
   

  
	
  11.

  	
  Parties

  	
  25

  

 

i

 

Table of Contents

(continued)

 

	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.1

  	
  Assignment Generally

  	
  25

  
	
   

  	
  11.2

  	
  Termination

  	
  25

  
	
   

  	
  11.3

  	
  Agreements to Be Bound

  	
  26

  
	
   

  	
   

  	
   

  	
   

  
	
  12.

  	
  Recapitalizations, Exchanges, etc.

  	
  26

  
	
   

  	
   

  	
   

  
	
  13.

  	
  No Third Party
  Beneficiaries

  	
  26

  
	
   

  	
   

  	
   

  
	
  14.

  	
  Further Assurances

  	
  26

  
	
   

  	
   

  	
   

  
	
  15.

  	
  Governing Law

  	
  26

  
	
   

  	
   

  	
   

  
	
  16.

  	
  Invalidity of Provision

  	
  27

  
	
   

  	
   

  	
   

  
	
  17.

  	
  Waiver

  	
  27

  
	
   

  	
   

  	
   

  
	
  18.

  	
  Notices

  	
  27

  
	
   

  	
   

  	
   

  
	
  19.

  	
  Headings

  	
  28

  
	
   

  	
   

  	
   

  
	
  20.

  	
  Counterparts

  	
  28

  
	
   

  	
   

  	
   

  
	
  21.

  	
  Entire Agreement

  	
  28

  
	
   

  	
   

  	
   

  
	
  22.

  	
  Injunctive Relief

  	
  29

  
	
   

  	
   

  	
   

  
	
  23.

  	
  Involuntary Transfers

  	
  29

  
	
   

  	
   

  	
   

  
	
  24.

  	
  Defined Terms

  	
  30

  

 

ii

 

STOCKHOLDERS
AGREEMENT

 

STOCKHOLDERS
AGREEMENT, dated as of November 30, 2006 (this “Agreement”), among Global
Geophysical Services, Inc., a Delaware corporation (the “Company”),
Kelso Investment Associates VI, L.P., a Delaware limited partnership (“KIA”)
and KEP VI, LLC, a Delaware limited liability company (“KEP” and together with
KIA, “Kelso”), those individuals or entities who are
listed on Schedule A  (collectively, the  “Outside Stockholders”), those present and former
employees of the Company or its subsidiaries and those affiliates of such
persons who are listed on Schedule B (collectively, the “Company
Stockholders”; and together with the Outside
Stockholders, the “Non-Kelso Stockholders”; and the
Non-Kelso Stockholders, together with Kelso, are hereinafter referred to as the
“Stockholders”).  Capitalized terms used herein without
definition are defined in Section 24.

 

The
parties hereto agree as follows:

 

1.             Restrictions
on Transfer of Capital Stock.

 

1.1           Restriction
on Transfers by the Company Stockholders. 
No shares of Capital Stock now or hereafter owned by any Company
Stockholder, nor any interest therein nor any rights relating thereto, may be
Transferred, provided, that shares of Capital Stock may be Transferred (a)
pursuant to Section 1.2 (“Permitted Pledges”),
(b) pursuant to Section 1.3 (“Estate Planning Transfers”),
(c) pursuant to Section 3.1 (“Tag-Along Rights”),
(d) as part of a registered offering pursuant to Section 7, (e) in
any 12-month period commencing on the first anniversary of this Agreement, in
an amount that is less than eight percent (8%) of the number of shares of
Capital Stock held by such Company Stockholder and his, her or its Affiliates
as of the beginning of such 12 month period and (f) as a charitable
contribution to an organization exempt from taxation pursuant to Section 503(c)
of the Internal Revenue Code, provided that such contribution has been approved
in advance by the Board (excluding such Company Stockholder and any Affiliate
of such Company Stockholder, if applicable), acting reasonably.

 

1.2           Permitted
Pledges.  A Company Stockholder may
pledge any or all shares of Capital Stock now or hereafter owned by him or her,
or grant a security interest therein to secure indebtedness of such Stockholder
owing to a bank or other financial institution, in either case on terms and
conditions approved by the Board (excluding such Company Stockholder and other
members of the Board who are designees of the Company Stockholders), provided,
however, that any pledgee pursuant to this section 1.2 shall acquire
only a security interest in such shares of Capital Stock entitling such pledgee
to (i) the proceeds from any sale of such shares made in compliance with
the terms of this Agreement and (ii) any proceeds of any distribution to
stockholders on account of the Capital Stock in any liquidation as a result of
any bankruptcy proceeding

 

 

or
the winding up of affairs of the Company, and in no event shall such pledgee be
entitled to foreclose upon and receive title to such shares or any other rights
incident thereto other than those specified above.  The pledge agreements or other related
financing agreements of any Company Stockholder shall be subject to and
acknowledge the rights of the Company and the other Stockholders set forth
herein and shall acknowledge the restrictions imposed on the pledgee’s security
interest pursuant to this Section 1.2.

 

1.3           Estate
Planning Transfers.  Shares of
Capital Stock held by Company Stockholders may be Transferred for
estate-planning purposes of such Company Stockholder, if authorized by the
prior written approval of the Board (excluding such Company Stockholder and any
Affiliate of such Company Stockholder, if applicable), acting reasonably, to (i)
a trust under which the distribution of the shares of Capital Stock may be made
only to beneficiaries who are such Company Stockholder, his or her spouse, his
or her parents, members of his or her immediate family or his or her lineal
descendants, (ii) a charitable remainder trust, the income from which
will be paid to such Company Stockholder during his or her life, (iii) a
corporation, the stockholders of which are only such Company Stockholder, his
or her spouse, his or her parents, members of his or her immediate family or
his or her lineal descendants or (iv) a partnership or limited liability
company, the partners or members of which are only such Company Stockholder,
his or her spouse, his or her parents, members of his or her immediate family
or his or her lineal descendants.

 

2.             Right
of First Refusal.

 

(a)           Procedure.  If an Outside Stockholder (the “Offering
Stockholder”) shall receive a bona fide
offer or offers from a third party or parties to purchase any shares of Capital
Stock, then prior to selling such shares of Capital Stock to such third party
or parties such Offering Stockholder shall deliver to the Company a letter
signed by such Offering Stockholder (an “Offer”) setting forth:

 

(i)            the name of the third party or
parties;

 

(ii)           the prospective purchase price per
share of Capital Stock;

 

(iii)          all material terms and conditions
contained in the offer of the third party or parties;

 

(iv)          the Offering Stockholder’s offer
(irrevocable by its terms for 30 days following receipt) to sell to the Company
all (but not less than all) of the shares of Capital Stock covered by the offer
of the third party or parties, for a purchase price per share and on other
terms and conditions not less favorable to the Company than those contained in
the offer of the third party or parties; and

 

2

 

(v)           closing arrangements and a closing
date (not less than 30 nor more than 90 days following the date of such letter)
for any purchase and sale that may be effected by the Company.

 

(b)           Effecting
Sales.  After the receipt of the
Offer, the Company shall have a 30-day period in which to determine whether to
purchase all (but not less than all) of the shares covered by the Offer on the
terms set forth therein (or assign the right to purchase the shares to Kelso or
an Affiliate of Kelso in accordance with Section 2(c)).

 

If the Company (or Kelso or an Affiliate of Kelso
pursuant to Section 2(c)) fails to accept the Offer within such 30-day period
or fails to consummate the closing of the purchase of the shares covered by the
Offer within the time period set forth therein, then the Offering Stockholder shall
have the right to sell to the third party or parties identified in such Offer
all (but not less than all) of the shares of Capital Stock covered by the
Offer, for the purchase price and on the other terms and conditions contained
in the Offer.  If the Offering
Stockholder has not signed a binding purchase agreement (subject to customary closing
conditions) with such third party or parties within 30 days after the
expiration of such 30-day period or if such sale has not been completed within
60 days (or such later date as is necessary to obtain all requisite
governmental and regulatory approvals and consents) after the expiration of
such 30-day period, the shares of Capital Stock covered by such Offer may not
thereafter be sold by the Offering Stockholder unless the procedures set forth
in this Section 2 shall have again been complied with.

 

(c)           Assignment
by the Company.  If the Company is
not going to purchase all of the shares of Capital Stock covered by the Offer,
then the Company shall, within five days following the date of the Offer,
notify Kelso of such Offer and make available to Kelso the right to purchase
all of the shares covered by the Offer which are not being purchased by the
Company.  Kelso shall have the right to
assign to one or more of its Affiliates all or any of its rights to purchase
Capital Stock pursuant to this Section 2(c). 
Notwithstanding the foregoing, in no event shall the Company, Kelso or
any Affiliate of Kelso be entitled to purchase any shares of Capital Stock
pursuant to this Section 2 unless all of the shares of Capital Stock covered by
the Offer are purchased.  Any purchases
made by Kelso or any Affiliate of Kelso hereunder shall be made in accordance
with Section 2(b).

 

3.             Tag-Along Rights.

 

3.1           Tag
Along Rights.  Without limiting the
transfer restrictions and right of first refusal obligations in Sections 1 and
2, in the event that at any time any Eligible Stockholder proposes to sell
shares of Capital Stock owned by such Stockholder and/or its Affiliates (a “Selling Stockholder”) to any person
(a “Proposed Purchaser”), other than any Transfer (i)
pursuant to a Registration or Rule 144 or (ii) to an Affiliate or

 

3

 

(iii)
in the case of a Company Stockholder, a Transfer permitted under Section 1.1,
such Selling Stockholder then such Selling Stockholder will promptly provide
the Company written notice (a “Sale Notice”) of such proposed
sale (a “Proposed Sale”) and the material terms of the
Proposed Sale as of the date of Sale Notice (the “Material Terms”),
including the aggregate number of shares of Capital Stock the Proposed
Purchaser is willing to purchase.  The
Company shall within two business days thereafter forward such Sale Notice to
all Eligible Stockholders.  If within 15
days of the mailing of the Preferred Stock Sale Notice, the Selling Stockholder
receives a written request (a “Stockholder Sale Request”) to
include shares of Capital Stock held by one or more Eligible Stockholders in
the Proposed Sale, the Capital Stock so held by such Eligible Stockholders
shall be so included as provided therein; provided, however, that
any Sale Request shall be irrevocable unless (x) there shall be a
material adverse change in the Material Terms or (y) otherwise mutually
agreed to in writing by Kelso.

 

3.2           Number
of Shares.  The number of shares of
Capital Stock that any Eligible Stockholder will be permitted to include in a
Proposed Sale on a pro rata basis pursuant to a Sale Request
will be equal to the product of (i) (A) the number of shares of
Capital Stock held by such Eligible Stockholder divided by (B) the
number of shares of Capital Stock held by all Eligible Stockholders
participating in such Proposed Sale and (ii) the aggregate number of
shares of Capital Stock proposed to be sold in such Proposed Sale.

 

3.3           Terms
and Conditions.  Shares of Capital
Stock subject to a Sale Request will be included in a Proposed Sale pursuant
hereto and to any agreement with the Proposed Purchaser relating thereto, on
the same terms and subject to the same conditions applicable to the shares of
Capital Stock which the Selling Stockholder proposes to sell in the Proposed
Sale.  Such terms and conditions shall
include, without limitation, (i) the sale consideration (which shall be
reduced by the fees and expenses incurred by the Selling Stockholder in
connection with the Proposed Sale) and (ii) the provision of
information, representations, warranties, covenants and requisite
indemnifications; provided, however, that (x) any
representations and warranties relating specifically to any Eligible
Stockholder shall only be made by that Eligible Stockholder; (y) any
indemnification provided by the Stockholders shall be based on the number of
shares of Capital Stock being sold by each Eligible Stockholder in the Proposed
Sale, either on a several, not joint, basis or solely with recourse to an
escrow established for the benefit of the Proposed Purchaser, and (z) that
the form of consideration to be received by the Selling Stockholder in
connection with the Proposed Sale may be different from that received by the
other participating Stockholders so long as the per share value of the
consideration to be received by the Selling Stockholder is the same or less
than that to be received by the other participating Stockholders (as reasonably
determined by the Board of Directors of the Company).

 

4

 

4.               Company Sale.

 

(a)           If
a Company Sale has not occurred between the Closing Date and the seventh
anniversary of the Closing Date, Kelso may, at any time following such seventh
anniversary of the Closing Date, notify the Company in writing that they wish
the Company to initiate a Company Sale Process (such notice, a “Company Sale Notice”), and the
Company shall mail a copy of such notice to the other Stockholders notice to
the Outside Stockholders.  After receipt
of a Company Sale Notice, the Board and the Company shall initiate a Company
Sale Process as soon as practicable.  The
Board and the Company shall, consult regularly and in good faith with Kelso
regarding the status of the Company Sale Process The Company shall use its best
efforts to consummate a Company Sale by a date that is eight months subsequent
to the date on which a Company Sale Notice was delivered to the Company (such
subsequent date, the “Company Sale Date”).

 

(b)           Each
Company Stockholder and Outside Stockholder agrees to vote all of its shares of
Capital Stock over which such Company Stockholder has voting control and shall
take all other necessary or desirable actions within such Company Stockholder’s
or Outside Stockholder’s control (whether in such Company Stockholder’s or
Outside Stockholder’s capacity as a stockholder, director, member of a board
committee or officer of the Company or otherwise, and including, without
limitation, attendance at meetings in person or by proxy for purposes of obtaining
a quorum, execution of written consents in lieu of meetings and approval of
amendments and/or restatements of the Company’s certificate of incorporation or
by-laws), and the Company shall take all necessary and desirable actions within
its control (including, without limitation, calling special board, stockholder
meetings and approval of amendments and/or restatements of the Company’s
certificate of incorporation or by-laws) to approve a Company Sale initiated
pursuant to this Section 4.  Kelso may
waive, delay or extend the obligations set forth in this Section 4 in writing
or it may, by notice to the Company permit the Company to abandon a proposed
Company Sale, in which case no Stockholder shall be obligated to take further
action with respect to any such abandoned Company Sale.

 

(c)           Shares
of Capital Stock subject to a Company Sale will be included in the Company Sale
pursuant hereto and to any agreement with the proposed purchaser relating
thereto, on the same terms and subject to the same conditions applicable to the
shares of Capital Stock which Kelso and its Affiliates in the Company
Sale.  Such terms and conditions shall
include, without limitation, (i) the sale consideration (which shall be
reduced by the fees and expenses incurred by Kelso and the Company in
connection with the Company Sale) and (ii) the provision of information,
representations, warranties, covenants and requisite indemnifications,
provided, however, that (x) any representations and warranties relating
specifically to any Stockholder shall only be made by that Stockholder; (y)
any indemnification provided by the Stockholders shall be based on the number
of shares of Capital Stock being sold by each Stockholder in the Company Sale
either on a several, not joint, basis or solely with recourse to an

 

5

 

escrow
established for the benefit of the proposed purchaser and (z) the form
of consideration to be received by Kelso or any of its Affiliates in connection
with the Company Sale may be different from that received by the Non-Kelso
Stockholders so long as the per share value of the consideration to be received
by Kelso or any of its Affiliates is the same or less than that to be received
by the Non-Kelso Stockholders (as reasonably determined by the Board in good
faith).  No Non-Kelso Stockholders shall
exercise any dissenter’s rights with respect to the consummation of any such
Company Sale pursuant to this Section 4.

 

(d)           Each
Non-Kelso Stockholder agrees that he or she will execute such other agreements
as Kelso (or any Affiliate of Kelso) may reasonably request in connection with
the consummation of a Company Sale and the transactions contemplated thereby,
including, without limitation, any purchase, merger or recapitalization agreement,
escrow agreement or other ancillary agreements, proxies, written consents in
lieu of meetings or waivers of appraisal rights.

 

5.             Preemptive
Rights.  Upon execution hereof, each
Non-Kelso Stockholder hereby waives any and all of such Non-Kelso Stockholder’s
rights in the nature of preemptive rights, rights of first offer, rights of
first refusal or any similar rights to purchase additional shares of the
Company’s securities on account of the transactions contemplated by the
Subscription Agreement.  Following the
date hereof, if the Company proposes to sell, issue or grant any capital stock
or other equity securities of the Company or other securities or rights,
directly or indirectly convertible into or exercisable or exchangeable for any
capital stock or other equity securities of the Company (other than any
Excluded Shares), to any Person, each Eligible Stockholder shall have the
right, on the same terms and conditions of the proposed sale, issuance or grant
and exercisable within 30 days after the Company has sent such Eligible
Stockholder notice of such proposed sale, issuance or grant, to purchase a
percentage of the shares or securities to be sold, issued or granted equal to
such Stockholder’s percentage ownership, on a fully diluted basis (determined
as if any out-of-the money rights or securities were not exercised, converted
or exchanged), of all shares of Capital Stock prior to such sale, issuance or
grant.  If an Eligible Stockholder
exercises its preemptive rights, the purchase of shares or securities by such
Eligible Stockholder will be governed by and subject to the terms and
conditions applicable to the Person who is acquiring the balance of the shares
or securities.

 

6.             Actions to Approve Certain Matters.  (a)
 Each Stockholder shall vote all of its
shares of Capital Stock over which such Stockholder has voting control and
shall take all other necessary or desirable actions within such Stockholder’s
control (whether in such Stockholder’s capacity as a stockholder, director,
member of a board committee or officer of the Company or otherwise, and
including, without limitation, attendance at meetings in person or by proxy for
purposes of obtaining a quorum, execution of written consents in lieu of
meetings and approval of amendments and/or

 

6

 

restatements of the Company’s certificate of incorporation or by-laws),
in order to effectuate any or all of the following actions if and when proposed
by management of the Company:

 

(i)            A ten-to-one (10:1) forward split of
the Capital Stock.

 

(ii)           An increase in the number of seats on
the Board to seven (7), five (5) of which to be elected by the holders of the
Common Stock and two (2) of which to be elected by the holders of Preferred
Stock.

 

(iii)          The amendment of the Company’s Plan of
Recapitalization adopted at the meeting of the Company’s shareholders on July 28,
2006 by deleting Section 5 (a) of that Plan, which provides for expiration of
the Plan on March 31, 2007 if it has not come into effect by that date, it
being understood that all Stockholders shall take all actions necessary so that
the Company is recapitalized into a single class of common stock (with shares
exchanged on a one for one basis) in connection with any IPO.

 

(b)           Each
Stockholder owning beneficially or of record any Preferred Stock shall vote all
of such Stockholder’s shares of Preferred Stock and the Company shall take all
necessary and desirable actions within such Stockholder’s control so that KIA
may at its election grant or withhold consent on behalf of the Preferred Stock
with respect to the matters  specified
in Section C(c) of the Second Amended and Restated Certificate of Designation
for the Preferred Stock (the “Certificate of Designation”).

 

(c)           In
order to secure the obligation of each owner of Preferred Stock to vote its
shares of Preferred Stock in accordance with the provisions of paragraph 6(b),
each such Stockholder hereby appoints KIA as its true and lawful proxy and
attorney-in-fact, with full power of substitution, to vote all of such Person’s
shares of Preferred Stock as expressly provided for in paragraph 6(b).  KIA may exercise the irrevocable proxy
granted to it hereunder at any time any such Stockholder fails to comply with
the provisions of paragraph 6(b).  The proxies
and powers granted by each such Stockholder pursuant to this paragraph are
coupled with an interest and are given to secure the performance of the
obligations under this Agreement.  Such
proxies and powers will be irrevocable until the termination of this Agreement
and will survive, if applicable, the death, incompetency and disability of each
such Stockholder and the holders of each of his or her respective shares of
Preferred Stock.

 

7.             Registration
Rights.

 

7.1           Requests
by Kelso.

 

(a)           Notice
of Request.  At any time following
the earlier of (i) an initial public offering of the Company’s equity
securities and (ii) the four year

 

7

 

anniversary
of the Closing Date, Kelso shall have the right to request that the Company
effect the registration under the Securities Act of all or a portion of the
Registrable Securities owned by Kelso, each such request to specify the
intended method or methods of disposition thereof (it being understood that the
right to request registration on a Shelf Registration Statement shall be
governed by Section 7.1(b).  Upon any
such request, the Company will promptly, but in any event within 15 days, give
written notice of such request to all holders of Registrable Securities and thereupon
the Company will, subject to Section 7.5, use its best efforts to effect the
prompt registration under the Securities Act of:

 

(i)            the Registrable Securities which the
Company has been so requested to register by Kelso, and

 

(ii)           all other Registrable Securities
which the Company has been requested to register by the holders thereof
(whether pursuant to the rights granted to such holders in Section 7.6 or in
any other agreement between such holder and the Company) by written request
given to the Company by such holders within 15 days after the giving of such
written notice by the Company to such holders,

 

all to the extent required to permit the disposition
of the Registrable Securities so to be registered in accordance with the
intended method or methods of disposition of Kelso.

 

(b)           Shelf
Registration.  The right of Kelso to
request a registration of Registrable Securities pursuant to Section 7.1(a) shall
include the right from and after the first anniversary of the IPO to request
that the Company file a registration statement to permit the requesting holder
to sell Registrable Securities on a delayed or continuous basis pursuant to Rule
415 under the Securities Act (or any similar rule that may be adopted by the
Commission) in accordance with the intended method or methods of disposition by
such requesting holder (a “Shelf
Registration Statement”). 
Notwithstanding anything to the contrary herein,

 

(i)            upon any Shelf Registration
Statement having been declared effective, the Company shall use reasonable best
efforts to keep such Shelf Registration Statement continuously effective until
the earlier of (x) such time as all Registrable Securities that could be
sold under such Shelf Registration Statement have been sold or are no longer
outstanding and (y) three years from the date of effectiveness;

 

(ii)           if at any time following the
effectiveness of any Shelf Registration Statement, Kelso desires to sell
Registrable Securities pursuant thereto, Kelso shall notify the Company of such
intent at least ten Business Days prior to any such sale (any such proposed
transaction, a “Take-down Transaction”),
and the Company thereupon shall, subject to Section 7.1(c), prepare and file
within ten

 

8

 

Business Days a prospectus
supplement or post-effective amendment to the Shelf Registration Statement, as
necessary, to permit the consummation of such Take-down Transaction;

 

(iii)          upon receipt of notice from Kelso
regarding a Take-down Transaction as provided in clause (ii) of this Section 7.1(b),
the Company shall immediately deliver notice to any other holders of
Registrable Securities whose Registrable Securities have been included in such
Shelf Registration Statement and shall permit such holders to participate in
such Take-down Transaction (subject to Section 7.5), it being understood, for
the avoidance of doubt, that no holder other than Kelso shall have the right to
initiate a Take-Down Transaction; and

 

(iv)          each holder who participates in a
Take-Down Transaction shall be deemed through such participation to have
represented to the Company that any information previously supplied by such
holder, unless modified by such holder by written notice to the Company,
remains accurate as of the date of the prospectus supplement or amendment to
the Shelf Registration Statement, as applicable.

 

(c)           Blackout.  Notwithstanding the foregoing, but subject to
the rights of holders of Registrable Securities under Section 7.6, (a) if
the Board determines in its good faith judgment, after consultation with a firm
of nationally recognized underwriters, that a requested registration under this
Section 7.1 will have a material and adverse effect on the offering price of a
then contemplated IPO, the Company may defer the filing (but not the preparation)
of the registration statement which is required to effect such registration
during the period starting with the 30th day immediately preceding the date of
anticipated filing by the Company of the registration statement and ending on
the later of (i) a date 60 days following the effective date of the
registration statement relating to such IPO or (ii) such later date (not
to exceed 90 days) as may be required by the managing underwriter of the IPO, provided
that at all times the Company is in good faith using all reasonable efforts to
cause such registration statement to be filed as soon as possible and provided,
further, that such period shall end on such earlier date as may be
permitted by the underwriters of such underwritten public offering, and (b)
if the Company shall at any time (including upon receipt of notice regarding a
Take-down Transaction) furnish to Kelso a Material Event Notice, the Company
may defer the filing (but not the preparation) of a registration statement (or
prospectus supplement or post-effective amendment, as applicable) to be filed
pursuant to this Section 7.1 for up to 60 days (but the Company shall use its
best efforts to complete the transaction and file the registration statement as
soon as possible).

 

9

 

7.2           Request
by Non-Kelso Stockholders.

 

(a)           Notice
of Request.  At any time, or from
time to time, following the expiration of any and all lock up agreements
required by the managing underwriters in an IPO, the Non-Kelso Stockholders
shall have the right to request that the Company effect the registration under
the Securities Act of all or a portion of the Registrable Securities owned by
all the Non-Kelso Stockholders, such request to specify the intended method or
methods of disposition thereof (it being understood that the right to request
registration on a Shelf Registration Statement shall be governed by Section 7.1(b)),
provided that (i) the Non-Kelso Stockholders shall not have the right to
request the registration of such Registrable Securities if such registration is
not required under the Securities Act to permit the immediate disposition of
all such shares on any exchange on which the Capital Stock is listed or on
NASDAQ (if the Capital Stock is not listed) pursuant to Rule 144 of the
Securities Act or otherwise and (ii) the market value sought to be registered
by such Non-Kelso Stockholders shall exceed $25,000,000.  Upon any such request, the Company will use
its best efforts to effect the prompt registration under the Securities Act of
the Registrable Securities which the Company has been so requested to register
by the Non-Kelso Stockholders.  Upon any
such request, the Company will promptly, but in any event within 15 days, give
written notice of such request to all holders of Registrable Securities and
thereupon the Company will, subject to Section 7.5, use its best efforts to
effect the prompt registration under the Securities Act of:

 

(i)            the Registrable Securities which the
Company has been so requested to register by the Non-Kelso Stockholders, and

 

(ii)           all other Registrable Securities
which the Company has been requested to register by the holders thereof by
written request given to the Company by such holders within 20 days after the
giving of such written notice by the Company to such holders,

 

all to the extent required to permit the disposition
of the Registrable Securities so to be registered in accordance with the
intended method or methods of disposition of the Non-Kelso Stockholders.

 

(b)           Blackout.
 Notwithstanding the foregoing, but
subject to the rights of holders of Registrable Securities under Section 7.6,
if the Company shall at any time furnish to the Non-Kelso Stockholders a
Material Event Notice, the Company may defer the filing (but not the preparation)
of a registration statement (or prospectus supplement or post-effective
amendment, as applicable) to be filed pursuant to this Section 7.2(b) for up to
60 days (but the Company shall use its best efforts to complete the transaction
and file the registration statement as soon as possible).

 

7.3           Registration
Statement Form.  A registration
requested pursuant to Section 7.1 shall be effected by the filing of a
registration statement on a form agreed to by Kelso.  A registration requested pursuant to Section 7.2
shall be effected by the filing

 

10

 

of
a registration statement on a form agreed to by the majority of the Capital
Stock held by the Non-Kelso Stockholders.

 

7.4           Expenses.  The Company shall pay all Registration
Expenses in connection with any registration requested under Sections 7.1 and 7.2;
provided, that each seller of Registrable Securities shall pay all
Registration Expenses to the extent required to be paid by such seller under
applicable law and all underwriting discounts and commissions and transfer
taxes, if any.

 

7.5           Priority
in Demand Registrations.  If a
registration pursuant to Section 7.1 or 7.2 (including any Take-down
Transaction) involves an underwritten offering, and the managing underwriter
(or, in the case of an offering which is not underwritten, a nationally
recognized investment banking firm) shall advise the Company in writing (with a
copy to each Person requesting registration of Registrable Securities) that, in
its opinion, the number of securities requested, and otherwise proposed to be
included in such registration, exceeds the number which can be sold in such
offering without materially and adversely affecting the offering price, the
Company shall include in such registration, to the extent of the number which
the Company is so advised can be sold in such offering without such material
adverse effect, first, the Registrable Securities of Kelso, the Outside
Stockholders and the Company Stockholders, on a pro rata
basis (based on the number of shares of Registrable Securities owned by each
such Stockholder), and second, the securities, if any, being sold by the
Company.  Notwithstanding the foregoing,
the Company Stockholders shall not be entitled to participate in any such
registration requested by Kelso or the Outside Stockholders (including any
Take-down Transaction) to the extent that the managing underwriter (or, in the
case of an offering that is not underwritten, a nationally recognized
investment banking firm) shall determine in good faith and in writing (with a
copy to each affected Person requesting registration of Registrable
Securities), that the participation of management would materially and
adversely affect the marketability or offering price of the securities being
sold in such registration, it being understood that the Company shall include
in such registration that number of shares of the Company Stockholders which
can be sold in such offering without materially and adversely affecting the
marketability or offering price of the other securities to be sold in such
registration. 
In the event of any such determination under this Section 7.5,
the Company shall give the affected holders of Registrable Securities notice of
such determination and in lieu of the notice otherwise required under Sections 7.1
or 7.2, as the case may be.

 

7.6           Incidental
Registrations.  If the Company at any
time proposes to register any of its equity securities under the Securities Act
for its own account (including, but not limited to, a Shelf Registration
Statement, but other than pursuant to a registration on Form S-4 or S-8 or any
successor form), then the Company shall give prompt written notice to all
holders of Registrable Securities regarding such proposed registration.  Upon the written request of any such holder
made within 15 days after the 

 

11

 

receipt
of any such notice (which request shall specify the number of Registrable
Securities intended to be disposed of by such holder and the intended method or
methods of disposition thereof), the Company shall use its best efforts to
effect the registration under the Securities Act of such Registrable Securities
on a pro rata basis in accordance with such intended method
or methods of disposition, provided that:

 

(a)           (i)
the Company shall not include Registrable Securities in such proposed
registration to the extent that the Board shall have determined, after
consultation with the managing underwriter for such offering, that it would
materially and adversely affect the offering price to include any Registrable
Securities in such registration and (ii) the Company shall not include
Registrable Securities of any Company Stockholder in any proposed registration
pursuant to this Section 7.6 to the extent that the managing underwriter (or,
in the case of an offering that is not underwritten, a nationally recognized
investment banker) shall determine in good faith that the participation of such
Company Stockholder would materially and adversely affect the marketability or
the offering price of the securities being sold in such registration and provided,
further, that in the event of any such determination under clause (i) or
(ii), the Company shall give the affected holders of Registrable Securities
notice of such determination and in lieu of the notice otherwise required by
the first sentence of this Section 7.6;

 

(b)           if, at any time after giving written notice (pursuant to
this Section 7.6)  of its intention to register equity securities and prior to the
effective date of the registration statement filed in connection with such
registration, the Company shall determine for any reason not to register such
equity securities, the Company may, at its election, give written notice of
such determination to each holder of Registrable Securities and, thereupon,
shall not be obligated to register any Registrable Securities in connection
with such registration (but shall nevertheless pay the Registration Expenses in
connection therewith), without prejudice, however, to the rights of Kelso or
the Non-Kelso Stockholders that a registration be effected under Sections 7.1 or 7.2, as the case may be; and

 

(c)           if in connection with a registration pursuant to this Section
7.6, the managing
underwriter of such registration (or, in the case of an offering that is not
underwritten, a nationally recognized investment banking firm) shall advise the
Company in writing (with a copy to each holder of Registrable Securities
requesting registration thereof) that the number of securities requested and
otherwise proposed to be included in such registration exceeds the number which
can be sold in such offering without materially and adversely affecting the
offering price of the securities being sold in such registration, then in the
case of any registration pursuant to this Section 7.6, the Company shall include in such registration
to the extent of the number which the Company is so advised can be sold in such
offering without such material adverse effect, first, the securities, if
any, being sold by the Company, and second, the Registrable Securities
of

 

12

 

Kelso, the Outside Stockholders and the Company
Stockholders, on a pro rata basis (based on the number of
shares of Registrable Securities owned by each such Stockholder).

 

The
Company shall pay all Registration Expenses in connection with each
registration of Registrable Securities requested pursuant to this Section 7.6, provided,
that each seller of Registrable Securities shall pay all Registration Expenses
to the extent required to be paid by such seller under applicable law and all
underwriting discounts and commissions and transfer taxes, if any.  No registration effected under this Section 7.6
shall relieve the Company from its obligation to effect registrations under
Sections 7.1 and 7.2.

 

7.7           Registration
Procedures.  Subject to Sections 7.1(b)
and 7.2(b), if and whenever the Company is required to use its best efforts to
effect the registration of any Registrable Securities under the Securities Act
pursuant to Sections 7.1, 7.2, or 7.6, the Company shall promptly:

 

(a)           prepare,
and as soon as practicable, but in any event within 60 days thereafter, file
with the Commission, a registration statement with respect to such Registrable
Securities, make all required filings with the NASD and use its best efforts to
cause such registration statement to become effective as soon as practicable;

 

(b)           prepare
and promptly file with the Commission such amendments and post-effective
amendments and supplements to such registration statement and the prospectus
used in connection therewith as may be necessary to keep such registration
statement effective for so long as is required to comply with the provisions of
the Securities Act and to complete the disposition of all securities covered by
such registration statement in accordance with the intended method or methods
of disposition thereof, but (other than in the case of a Shelf Registration
Statement) in no event for a period of more than six months after such
registration statement becomes effective;

 

(c)           furnish
copies of all documents proposed to be filed with the Commission in connection
with such registration to (i) counsel selected by Kelso in the case of a
registration pursuant to Section 7.1, and which counsel may also be counsel to
the Company, and (ii) each seller of Registrable Securities (or in the
case of the initial filing of a registration statement, within five Business
Days of such initial filing) and such documents shall be subject to the review
of such counsel, provided that the Company shall not file any
registration statement or any amendment or post-effective amendment or
supplement to such registration statement or the prospectus used in connection
therewith to which such counsel shall have reasonably objected on the grounds
that such registration statement amendment, supplement or prospectus does not
comply (explaining why) in all material respects with the requirements of the
Securities Act or of the rules or regulations thereunder;

 

13

 

(d)           furnish
to each seller of Registrable Securities, without charge, such number of
conformed copies of such registration statement and of each such amendment and
supplement thereto (in each case including all exhibits and documents filed
therewith) and such number of copies of the prospectus included in such
registration statement (including each preliminary prospectus and any summary
prospectus) and any other prospectus filed under Rule 424 under the Securities
Act, in conformity with the requirements of the Securities Act, and such other
documents, as such seller may reasonably request in order to facilitate the
disposition of the Registrable Securities owned by such seller in accordance
with the intended method or methods of disposition thereof;

 

(e)           use
its best efforts to register or qualify such Registrable Securities covered by
such registration statement under the securities or blue sky laws of such
jurisdictions as each seller shall reasonably request, and do any and all other
acts and things which may be necessary or advisable to enable such seller to
consummate the disposition of such Registrable Securities in such jurisdictions
in accordance with the intended method or methods of disposition thereof, provided
that the Company shall not for any such purpose be required to qualify
generally to do business as a foreign corporation in any jurisdiction wherein
it is not so qualified, subject itself to taxation in any jurisdiction wherein
it is not so subject, or take any action which would subject it to general
service of process in any jurisdiction wherein it is not so subject;

 

(f)            use
its best efforts to cause all Registrable Securities covered by such
registration statement to be registered with or approved by such other
governmental agencies, authorities or self-regulatory bodies as may be
necessary by virtue of the business and operations of the Company to enable the
seller or sellers thereof to consummate the disposition of such Registrable
Securities in accordance with the intended method or methods of disposition
thereof;

 

(g)           in
any underwritten offering, furnish to Kelso and, to the extent such
registration is occurring pursuant to Section 7.2, the Non-Kelso Stockholders:

 

(i)            an opinion of counsel for the
Company experienced in securities law matters, dated the effective date of the
registration statement (and, if such registration includes an underwritten
public offering, the date of the closing under the underwriting agreement), and

 

(ii)           a “comfort” letter
(unless the registration is pursuant to Section 7.6 and such a letter is not otherwise being
furnished to the Company), dated the effective date of such registration
statement (and if such registration includes an underwritten public offering,
dated the date of the closing under the underwriting agreement), signed by the
independent public accountants who have issued an

 

14

 

audit
report on the Company’s financial statements included in the registration
statement,

 

covering such matters as
are customarily covered in opinions of issuer’s counsel and in accountants’
letters delivered to the underwriters in underwritten public offerings of
securities and such other matters as Kelso may reasonably request;

 

(h)           notify
each seller of any Registrable Securities covered by such registration
statement at any time when a prospectus relating thereto is required to be
delivered under the Securities Act of the happening of any event or existence
of any fact as a result of which the prospectus included in such registration
statement, as then in effect, includes an untrue statement of a material fact
or omits to state any material fact required to be stated therein or necessary
to make the statements therein not misleading in light of the circumstances
then existing, (i) in the case of a Shelf Registration Statement, if a
Stockholder has provided notice of an intent to sell, within five Business Days
of such notice and (ii) in the case of any other registration statement
hereunder, as promptly as is practicable but in any event, no later than 30
days after such notice (except in the case of clause (i) or (ii) to the extent
the Company delivers a Material Event Notice, in which case such period may be
up to 60 days but shall end upon public disclosure of the material transaction
which necessitated such Material Event Notice), prepare and furnish to such
seller a reasonable number of copies of a supplement to or an amendment of such
prospectus as may be necessary so that, as thereafter delivered to the
purchasers of such securities, such prospectus shall not include an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading in
light of the circumstances then existing;

 

(i)            otherwise
comply with all applicable rules and regulations of the Commission, and make
available to its security holders, as soon as reasonably practicable, an
earnings statement of the Company (in form complying with the provisions of Rule
158 under the Securities Act) covering the period of at least 12 months, but
not more than 18 months, beginning with the first month after the effective
date of such registration statement;

 

(j)            notify
each seller of any Registrable Securities covered by such registration
statement (i) when the prospectus or any prospectus supplement or
post-effective amendment has been filed, and, with respect to such registration
statement or any post-effective amendment, when the same has become effective, (ii)
of any request by the Commission for amendments or supplements to such
registration statement or to amend or to supplement such prospectus or for
additional information, (iii) of the issuance by the Commission of any
stop order suspending the effectiveness of such registration statement or the
initiation of any proceedings for that purpose and (iv) of the
suspension of the qualification of such securities for offering or sale in any
jurisdiction, or of the institution of any proceedings for any of such
purposes;

 

15

 

(k)           use
every reasonable effort to obtain the lifting of any stop order that might be
issued suspending the effectiveness of such registration statement at the
earliest possible moment;

 

(l)            use
its best efforts (i) (A) to list such Registrable Securities on
any securities exchange on which the equity securities of the Company are then
listed or, if no such equity securities are then listed, on an exchange
selected by the Company, if such listing is then permitted under the rules of
such exchange, or (B) if such listing is not practicable, to secure
designation of such securities as a NASDAQ “national market system security”
within the meaning of Rule 11Aa2-1 under the Exchange Act or, failing that, to
secure NASDAQ authorization for such Registrable Securities, and, without
limiting the foregoing, to arrange for at least two market makers to register
as such with respect to such Registrable Securities with the NASD, and (ii)
to provide a transfer agent and registrar for such Registrable Securities not
later than the effective date of such registration statement and to instruct
such transfer agent (A) to release any stop transfer order with respect
to the certificates with respect to the Registrable Securities being sold and (B)
to furnish certificates without restrictive legends representing ownership of
the shares being sold, in such denominations requested by the sellers of the
Registrable Securities or the lead underwriter;

 

(m)          enter
into such agreements and take such other actions as the sellers of Registrable
Securities or the underwriters reasonably request in order to expedite or
facilitate the disposition of such Registrable Securities, including, without
limitation, preparing for, and participating in, such number of “road shows”
and all such other customary selling efforts as the underwriters reasonably
request in order to expedite or facilitate such disposition;

 

(n)           furnish
to any holder of such Registrable Securities on a confidential basis such
information and assistance as such holder may reasonably request in connection
with any “due diligence” effort which such seller deems appropriate; and

 

(o)           use
its best efforts to take all other steps necessary to effect the registration
of such Registrable Securities contemplated hereby.

 

As a
condition to its registration of Registrable Securities of any prospective
seller, the Company may require such seller of any Registrable Securities as to
which any registration is being effected to execute powers-of-attorney, custody
arrangements and other customary agreements appropriate to facilitate the
offering and to furnish to the Company such information regarding such seller,
its ownership of Registrable Securities and the disposition of such Registrable
Securities as the Company may from time to time reasonably request in writing
and as shall be required by law in connection therewith.  Each such holder agrees to furnish promptly
to the Company all

 

16

 

information required to be disclosed in order to make
the information previously furnished to the Company by such holder not
materially misleading.

 

The
Company agrees not to file or make any amendment to any registration statement
with respect to any Registrable Securities, or any amendment of or supplement
to the prospectus used in connection therewith, which refers to any holder of
Registrable Securities, or otherwise identifies any holder of Registrable
Securities as the holder of any Registrable Securities, without the consent of
such holder, such consent not to be unreasonably withheld or delayed, unless
such disclosure is required by law.

 

By
acquisition of Registrable Securities, each holder of such Registrable
Securities shall be deemed to have agreed that upon receipt of any notice from
the Company of the happening of any event of the kind described in Section 7.7(h),
such holder will promptly discontinue such holder’s disposition of Registrable
Securities pursuant to the registration statement covering such Registrable
Securities until such holder’s receipt of the copies of the supplemented or
amended prospectus contemplated by Section 7.7(h).  If so directed by the Company, each holder of
Registrable Securities will deliver to the Company (at the Company’s expense)
all copies, other than permanent file copies, in such holder’s possession of
the prospectus covering such Registrable Securities at the time of receipt of
such notice.  In the event that the
Company shall give any such notice, the period mentioned in Section 7.7(a) shall
be extended by the number of days during the period from and including the date
of the giving of such notice to and including the date when each seller of any
Registrable Securities covered by such registration statement shall have
received the copies of the supplemented or amended prospectus contemplated by Section
7.7(h).

 

7.8           Underwritten
Offerings.

 

(a)           Underwriting
Agreement.  If requested by the
underwriters for any underwritten offering pursuant to a registration requested
under Sections 7.1, 7.2, or 7.6 (including any Take-down Transaction), the
Company shall enter into an underwriting agreement with the underwriters for
such offering, such agreement to be reasonably satisfactory in substance and
form to the underwriters and to Kelso (unless Kelso is not participating in
such registration, in which case, counsel to the Non-Kelso Stockholders).  Any such underwriting agreement shall contain
such representations and warranties by the Company and such other terms and
provisions as are customarily contained in agreements of this type, including,
without limitation, indemnities to the effect and to the extent provided in Section
7.12.  Each holder of Registrable
Securities to be distributed by such underwriter who owns 10% or more of the
Common Stock (computed on a fully-diluted basis) at the time of such offering  and any other holder of Registrable
Securities requested by such underwriter shall be a party to such underwriting
agreement and may, at such holder’s option, require that any or all of the
representations and warranties by, and the agreements on the part of, the
Company to and for the benefit of such

 

17

 

underwriters
be made to and for the benefit of such holder of Registrable Securities and
that any or all of the conditions precedent to the obligations of such
underwriters under such underwriting agreement shall also be conditions
precedent to the obligations of such holder of Registrable Securities.  No Stockholder in its capacity as stockholder
and/or controlling person (but not in its capacity as director or officer of
the Company) shall be required by any underwriting agreement to make any
representations or warranties to or agreements with the Company or the
underwriters other than representations, warranties or agreements regarding
such holder, the ownership of such holder’s Registrable Securities and such
holder’s intended method or methods of disposition and any other representation
required by law or to furnish any indemnity to any Person which is broader than
the indemnity furnished by such holder pursuant to Section 7.12(b).

 

(b)           Selection
of Underwriters.  If the Company at
any time proposes to register any of its securities under the Securities Act
for sale for its own account pursuant to an underwritten offering, the Company
will have the right to select the managing underwriter (which shall be of
nationally recognized standing) to administer the offering, but if Kelso and
its Affiliates at such time own at least 51% of the number of shares of Capital
Stock they have acquired, only with the approval of Kelso, such approval not to
be unreasonably withheld.  Whenever a
registration requested pursuant to Section 7.1(a) is for an underwritten
offering, Kelso will have the right to select the managing underwriter (which
shall be of nationally recognized standing) to administer the offering, but
only with the approval of the Company, such approval not to be unreasonably
withheld.

 

7.9           Holdback Agreements.

 

(a)           If
and whenever the Company proposes to register any of its equity securities
under the Securities Act for its own account (other than on Form S-4 or S-8 or
any successor form) or is required to use its best efforts to effect the
registration of any Registrable Securities under the Securities Act pursuant to
Sections 7.1, 7.2, or 7.6, each holder of Registrable Securities agrees by
acquisition of such Registrable Securities not to effect any sale or
distribution, including any sale pursuant to Rule 144 under the Securities Act,
or to request registration under Section 7.1 or 7.2, as the case may be,  of any Registrable Securities within seven
days prior to and 90 days (unless advised by the managing underwriter that a
longer period, not to exceed 180 days, is required, or such shorter period as
the managing underwriter for any underwritten offering may agree) after the
effective date of the registration statement relating to such registration (the
“Trigger Date”), except as
part of such registration or unless, in the case of a sale or distribution not
involving a public offering, the transferee agrees in writing to be subject to
this Section 7.9, even if such Registrable Securities cease to be Registrable
Securities upon such transfer; provided that, with respect to any Shelf
Registration Statement, the Trigger Date shall be the pricing of any offering
made under such registration statement. 
If requested by such managing underwriter, each holder of Registrable
Securities agrees to

 

18

 

execute
an agreement to such effect with the Company and consistent with such managing
underwriter’s customary form of holdback agreement.

 

(b)           The
Company agrees not to effect any public sale or distribution of its equity
securities or securities convertible into or exchangeable or exercisable for
any of such securities within seven days prior to and 90 days (or such longer
period, not to exceed 180 days, which may be required by the managing
underwriter, or such shorter period as the managing underwriter may agree)
after the Trigger Date with respect to any registration statement filed
pursuant to Section 7.1 or 7.2 (except (i) as part of such registration,
(ii) as permitted by any related underwriting agreement, (iii) pursuant
to an employee equity compensation plan, or (iv) pursuant to a
registration on Form S-4 or S-8 or any successor form); provided that,
with respect to any Shelf Registration Statement, the Trigger Date shall be the
pricing of any offering made under such registration statement.  In addition, if, and to the extent requested
by the managing underwriter, the Company shall use its best efforts to cause
each holder (other than any holder already subject to Section 7.9(a)) of its
equity securities or any securities convertible into or exchangeable or
exercisable for any of such securities, whether outstanding on the date of this
Agreement or issued at any time after the date of this Agreement (other than
any such securities acquired in a public offering), to agree not to effect any
such public sale or distribution of such securities during such period, except
as part of any such registration if permitted, and to cause each such holder to
enter into an agreement to such effect with the Company and consistent with
such managing underwriter’s customary form of holdback agreement.

 

7.10         Preparation;
Reasonable Investigation.  In
connection with the preparation and filing of each registration statement
registering Registrable Securities under the Securities Act, the Company shall
give counsel referred to in clause (c) of Section 7.7 the opportunity to
participate in the preparation of such registration statement, each prospectus
included therein or filed with the Commission, and each amendment thereof or
supplement thereto, and shall give such counsel access to the financial and
other records, pertinent corporate documents and properties of the Company and
its subsidiaries and opportunities to discuss the business of the Company with
its officers and the independent public accountants who have issued audit
reports on its financial statements in each case as shall be reasonably
requested by such counsel in connection with such registration statement.

 

7.11         No
Grant of Future Registration Rights. 
The Company shall not grant any other demand or incidental registration
rights to any other Person other than by requiring new Stockholders to become
parties to this Agreement.

 

19

 

7.12         Indemnification.

 

(a)           Indemnification
by the Company.  In the event of any
registration of any Registrable Securities pursuant to this Agreement, the
Company shall indemnify, defend and hold harmless (a) each seller of
such Registrable Securities, (b) the directors, members, stockholders,
officers, partners, employees, agents and Affiliates of such seller, (c)
each Person who participates as an underwriter in the offering or sale of such
securities and (d) each person, if any, who controls (within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act) any of
the foregoing against any and all losses, claims, damages or liabilities (or
actions or proceedings in respect thereof), jointly or severally, directly or
indirectly, based upon or arising out of (i) any untrue statement or
alleged untrue statement of a fact contained in any registration statement
under which such Registrable Securities were registered under the Securities
Act, any preliminary prospectus, final prospectus or summary prospectus
contained therein or used in connection with the offering of securities covered
thereby, or any amendment or supplement thereto, or (ii) any omission or
alleged omission to state a fact required to be stated therein or necessary to
make the statements therein not misleading; and the Company will reimburse each
such indemnified party for any legal or any other expenses reasonably incurred
by them in connection with enforcing its rights hereunder or under the
underwriting agreement entered into in connection with such offering or
investigating, preparing, pursuing or defending any such loss, claim, damage,
liability, action or proceeding, except insofar as any such loss, claim,
damage, liability, action, proceeding or expense arises out of or is based upon
an untrue statement or omission made in such registration statement, any such
preliminary prospectus, final prospectus, summary prospectus, amendment or
supplement in reliance upon and in conformity with written information
furnished to the Company by such seller expressly for use in the preparation
thereof.  Such indemnity shall remain in
full force and effect, regardless of any investigation made by such indemnified
party and shall survive the transfer of such Registrable Securities by such
seller.  If the Company is entitled to,
and does, assume the defense of the related action or proceedings provided
herein, then the indemnity agreement contained in this Section 7.12(a) shall
not apply to amounts paid in settlement of any such loss, claim, damage,
liability, action or proceeding if such settlement is effected without the
consent of the Company (which consent shall not be unreasonably withheld or
delayed).

 

(b)           Indemnification
by the Sellers.  The Company may
require, as a condition to including any Registrable Securities in any
registration statement filed pursuant to Sections 7.1, 7.2 or 7.6 (including
any Take-down Transaction) that the Company shall have received an undertaking
satisfactory to it from each of the prospective sellers of such Registrable
Securities to indemnify and hold harmless, severally, not jointly, in the same
manner and to the same extent as set forth in Section 7.12(a), the Company, its
directors, officers, employees, agents and each person, if any, who controls
(within the meaning of Section 15 of the Securities Act or Section 20

 

20

 

of
the Exchange Act) the Company, with respect to any statement or alleged
statement in or omission or alleged omission from such registration statement,
any preliminary prospectus, final prospectus or summary prospectus contained
therein, or any amendment or supplement thereto, if such statement or alleged
statement or omission or alleged omission was made in reliance upon and in
conformity with written information furnished to the Company by such seller
expressly for use in the preparation of such registration statement,
preliminary prospectus, final prospectus, summary prospectus, amendment or
supplement.  Such indemnity shall remain
in full force and effect, regardless of any investigation made by or on behalf
of the Company or any such director, officer or controlling person and shall
survive the transfer of such Registrable Securities by such seller.  The indemnity agreement contained in this Section 7.12(b) shall
not apply to amounts paid in settlement of any such loss, claim, damage,
liability, action or proceeding if such settlement is effected without the
consent of such seller (which consent shall not be unreasonably withheld or
delayed).  The indemnity provided by each
seller of Registrable Securities under this Section 7.12(b) shall be
limited in amount to the net amount of proceeds actually received by such
seller from the sale of Registrable Securities pursuant to such registration
statement.

 

(c)                                  Notices of Claims, etc. 
Promptly after receipt by an indemnified party of notice of the
commencement of any action or proceeding involving a claim referred to in the
preceding paragraphs of this Section 7.12, such indemnified party shall,
if a claim in respect thereof is to be made against an indemnifying party, give
written notice to the indemnifying party of the commencement of such action or
proceeding, provided that the failure of any indemnified party to give
notice as provided herein shall not relieve the indemnifying party of its
obligations under the preceding paragraphs of this Section 7.12, except to
the extent that the indemnifying party is materially prejudiced by such failure
to give notice.  In case any such action
is brought against an indemnified party, the indemnifying party shall be
entitled to participate therein and to assume the defense thereof, jointly with
any other indemnifying party similarly notified, to the extent that it may
wish, with counsel reasonably satisfactory to such indemnified party, and after
notice from the indemnifying party to such indemnified party of its election so
to assume the defense thereof, the indemnifying party will not be liable to
such indemnified party for any legal or other expenses subsequently incurred by
the latter in connection with the defense thereof except for the reasonable
fees and expenses of any counsel retained by such indemnified party to monitor
such action or proceeding. 
Notwithstanding the foregoing, if such indemnified party reasonably
determines, based upon advice of independent counsel, that a conflict of
interest may exist between the indemnified party and the indemnifying party
with respect to such action and that it is advisable for such indemnified party
to be represented by separate counsel, such indemnified party may retain other
counsel, reasonably satisfactory to the indemnifying party, to represent such
indemnified party, and the indemnifying party shall pay all reasonable fees and
expenses of such counsel.  No
indemnifying party, in the defense of any such claim or litigation, shall, except
with the consent of such indemnified party, which consent shall not be 

 

21

 

unreasonably
withheld, consent to entry of any judgment or enter into any settlement which
does not include as an unconditional term thereof the giving by the claimant or
plaintiff to such indemnified party of a release from all liability in respect
of such claim or litigation.

 

(d)                                 Other Indemnification. 
Indemnification similar to that specified in the preceding paragraphs of
this Section 7.12 (with appropriate modifications) shall be given by the
Company and each seller of Registrable Securities with respect to any required
registration (other than under the Securities Act) or other qualification of
such Registrable Securities under any federal or state law or regulation of any
governmental authority.

 

(e)                                  Indemnification Payments. 
Any indemnification required to be made by an indemnifying party
pursuant to this Section 7.12 shall be made by periodic payments to the
indemnified party during the course of the action or proceeding, as and when
bills are received by such indemnifying party with respect to an indemnifiable
loss, claim, damage, liability or expense incurred by such indemnified party.

 

(f)                                    Other Remedies. 
If for any reason any indemnification specified in the preceding
paragraphs of this Section 7.12  is
unavailable, or is insufficient to hold harmless an indemnified party, other
than by reason of the exceptions provided therein, then the indemnifying party
shall contribute to the amount paid or payable by the indemnified party as a
result of such losses, claims, damages, liabilities, actions, proceedings or
expenses in such proportion as is appropriate to reflect the relative benefits
to and faults of the indemnifying party on the one hand and the indemnified
party on the other and the statements or omissions or alleged statements or
omissions which resulted in such loss, claim, damage, liability, action,
proceeding or expense, as well as any other relevant equitable considerations.  The relative fault of the indemnifying party
and of the indemnified party shall be determined by reference to, among other
things, whether the untrue statement of a material fact or the omission to
state a material fact relates to information supplied by the indemnifying party
or by the indemnified party and the parties’ relative intent, knowledge, access
to information and opportunity to correct or prevent such statements or
omissions.  No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any person who was
not guilty of such fraudulent misrepresentation.  Notwithstanding the other provisions of this Section 7.12,
in respect of any claim for indemnification pursuant to this Section 7.12,
no indemnifying party (other than the Company) shall be required to contribute
pursuant to this Section 7.12(f) any amount in excess of (a) the
net proceeds received and retained by such indemnifying party from the sale of
its Registrable Securities covered by the applicable registration statement,
preliminary prospectus, final prospectus, or supplement or amendment thereto,
filed pursuant hereto minus (b) any amounts previously paid
by such indemnifying party pursuant to this Section 7.12 in respect of
such claim, it being understood that insofar as 

 

22

 

such
net proceeds have been distributed by any indemnifying party to its partners,
stockholders or members, the amount of such indemnifying party’s contribution
hereunder shall be limited to the net proceeds which it actually recovers from
its partners, stockholders or members based upon their relative fault and that
to the extent that such indemnifying party has not distributed such net
proceeds, the amount such indemnifying party’s contribution hereunder shall be
limited by the percentage of such net proceeds which corresponds to the
percentage equity interests in such indemnifying party held by those of its
partners, stockholders or members who have been determined to be at fault.  No party shall be liable for contribution
under this Section 7.12(f) except to the extent and under such
circumstances as such party would have been liable for indemnification under
this Section 7.12 if such indemnification were enforceable under
applicable law.

 

8.                                       Stock Certificate Legend. 
A copy of this Agreement shall be filed with the Secretary of the
Company and kept with the records of the Company.  Each certificate representing shares of
Capital Stock owned by the Stockholders shall bear upon its face the following
legends, as appropriate:

 

(a)                                  “THE SHARES EVIDENCED BY THIS CERTIFICATE
HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE OFFERED,
SOLD, ASSIGNED, PLEDGED, HYPOTHECATED, TRANSFERRED OR OTHERWISE DISPOSED OF
UNLESS AND UNTIL REGISTERED UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES
LAWS OR UNLESS, IN THE OPINION OF COUNSEL TO THE STOCKHOLDER, WHICH COUNSEL
MUST BE, AND THE FORM AND SUBSTANCE OF WHICH OPINION ARE, SATISFACTORY TO
THE ISSUER, SUCH OFFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION, TRANSFER OR
OTHER DISPOSITION IS EXEMPT FROM REGISTRATION OR IS OTHERWISE IN COMPLIANCE
WITH THE ACT, SUCH LAWS AND THE STOCKHOLDERS AGREEMENT OF THE ISSUER, DATED AS
OF NOVEMBER 30, 2006 (THE “STOCKHOLDERS AGREEMENT”).”

 

(b)                                 THE SHARES OF STOCK REPRESENTED BY THIS
CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER AND OTHER CONDITIONS, AS
SPECIFIED IN THE STOCKHOLDERS AGREEMENT, COPIES OF WHICH ARE ON FILE AT THE
OFFICE OF THE ISSUER AND WILL BE FURNISHED WITHOUT CHARGE TO THE HOLDER OF SUCH
SHARES UPON WRITTEN REQUEST.”

 

23

 

In addition, certificates representing shares
of Capital Stock owned by residents of certain states shall bear any legends
required by the laws of such states.

 

All
Stockholders shall be bound by the requirements of such legends.  Upon a Registration of any shares of Capital
Stock, the certificate representing the registered shares shall be replaced, at
the expense of the Company, with certificates not bearing the legends required
by clauses (a) and (b) of this Section 8.

 

9.                                       Covenants; Representations and Warranties.

 

9.1                                 New Stockholders. 
Each of the Stockholders hereby agrees that any Person who after the
date of this Agreement is offered shares of any class or series of Capital
Stock or holds stock options exercisable into shares of Common Stock shall, as
a condition precedent to the acquisition of such shares of Common Stock or the
exercise of such stock options, as the case may be, become a party to this
Agreement by executing a signature page to the same.  Upon such execution and delivery, such person
shall be a Company Stockholder or an Outside Stockholder hereunder (as
determined by the Board based on such Person’s relationship to the Company) for
all purposes of this Agreement Company shall amend the Schedules to this
Agreement accordingly.

 

9.2                                 No Other Arrangements or Agreements. 
Each Stockholder hereby represents and warrants to the Company and to
each other Stockholder that, except for this Agreement, and in the case of any
affected Company Stockholder, any stock option agreement of the Company
applicable to such Company Stockholder, he or she is not bound by any other
arrangements or agreements of any kind with any other party with respect to the
shares of Capital Stock, including, but not limited to, arrangements or
agreements with respect to the acquisition or disposition of Capital Stock or
any interest therein or the voting of shares of Capital Stock (whether or not
such agreements and arrangements are with the Company or any of its
subsidiaries, or other Stockholders) and each Non-Kelso Stockholder agrees
that, except as expressly permitted under this Agreement, prior to an IPO he or
she will not enter into any such other arrangements or agreements.

 

9.3                                 Additional Representations and Warranties. 
Each Stockholder represents and warrants to the Company and each other
Stockholder that:

 

(a)                                  such Stockholder has the power, authority
and capacity (or, in the case of any Stockholder that is a corporation, limited
liability company or limited partnership, all corporate limited liability
company or limited partnership power and authority, as the case may be) to execute,
deliver and perform this Agreement;

 

(b)                                 in the case of a Stockholder that is a
corporation, limited liability company or limited partnership, the execution,
delivery and performance of this 

 

24

 

Agreement
by such Stockholder has been duly and validly authorized and approved by all
necessary corporate, limited liability company or limited partnership action,
as the case may be;

 

(c)                                  this Agreement has been duly and validly
executed and delivered by such Stockholder and constitutes a valid and legally
binding obligation of such Stockholder, enforceable in accordance with its
terms, subject to bankruptcy, insolvency, reorganization, moratorium or other
similar laws affecting or relating to creditors’ rights generally and general
principles of equity; and

 

(d)                                 the execution, delivery and performance
of this Agreement by such Stockholder does not and will not violate the terms
of or result in the acceleration of any obligation under (i) any
material contract, commitment or other material instrument to which such
Stockholder is a party or by which such Stockholder is bound or (ii) in
the case of a Stockholder that is a corporation, limited liability company or
limited partnership, the certificate of incorporation and the by-laws, the
certificate of formation and the limited liability company agreement, or the
certificate of limited partnership and the limited partnership agreement, as
the case may be.

 

10.                                 Amendment and Modification. 
This Agreement may not be amended, modified or supplemented without the
prior written consent of a majority in interest of the Stockholders (based on
the aggregate number of shares of Capital Stock owned by the Stockholders at
the time of such amendment, modification or supplement) and, if any amendment,
modification or supplement shall treat any Stockholder adversely and
differently from other holders of the class of Capital Stock held by such
Stockholder, the consent of such Stockholder. 
The Company shall notify all Stockholders promptly after any such
amendment, modification or supplement shall have taken effect.

 

11.                                 Parties.

 

11.1                           Assignment Generally. 
The provisions of this Agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective heirs, legal
representatives, successors and assigns, provided that such assignment
shall only occur with a Transfer of shares that complies with the terms of this
Agreement.

 

11.2                           Termination.

 

(a)                                  Any Stockholder who ceases to own shares
of Capital Stock or any interest therein, shall cease to be a party to, or
Person who is subject to, this Agreement and thereafter shall have no rights or
obligations hereunder, provided, however, that a Transfer of
shares of Capital Stock not explicitly permitted under this Agreement shall not
relieve Stockholder of any of his or her obligations hereunder.

 

25

 

(b)                                 All rights and obligations pursuant to
this Agreement other than pursuant to Section 7 and related provisions of
this Agreement shall terminate upon the occurrence of an IPO and the rights and
obligations under Section 1 shall also terminate upon Kelso’s Transfer to
a Third Party Investor of more than 50% of the Preferred Stock it has purchases
pursuant to the Subscription Agreement.

 

11.3                           Agreements to Be Bound. 
Notwithstanding anything to the contrary contained in this Agreement,
any Transfer of shares by a Non-Kelso Stockholder (the “Transferor”) (other than pursuant to a
Registration) shall be permitted under the terms of this Agreement only if the
transferee of such Transferor (the “Transferee”)
shall agree in writing to be bound by the terms and conditions of this
Agreement pursuant to an instrument of assumption reasonably satisfactory in
substance and form to the Company, and in the case of a Transferee of a Company
Stockholder who resides in a state with a community property system, such
Transferee causes his or her spouse, if any, to execute a spousal waiver.  Upon the execution of the instrument of
assumption by such Transferee and, if applicable, the spousal waiver by the
spouse of such Transferee, such Transferee shall enjoy all of the rights and
shall be subject to all of the restrictions and obligations of the Transferor
of such Transferee.

 

12.                                 Recapitalizations,
Exchanges, etc.  Except as otherwise provided herein, the
provisions of this Agreement shall apply to the full extent set forth herein
with respect to (a) the shares of Capital Stock and (b) any
and all shares of capital stock of the Company or any successor or assign of
the Company (whether by merger, consolidation, sale of assets or otherwise)
which may be issued in respect of, in exchange for, or in substitution for the
shares of Capital Stock, by reason of any stock dividend, split, reverse split,
combination, recapitalization, reclassification, merger, consolidation or
otherwise.  All share numbers and
percentages shall be proportionately adjusted to reflect any stock split, stock
dividend or other subdivision or combination effected after the date hereof.

 

13.                                 No Third Party Beneficiaries. 
Except as otherwise provided herein, this Agreement is not intended to
confer upon any Person, except for the parties hereto, any rights or remedies
hereunder.

 

14.                                 Further Assurances. 
Each party hereto shall do and perform or cause to be done and performed
all such further acts and things and shall execute and deliver all such other
agreements, certificates, instruments and documents as any other party hereto
or Person subject hereto may reasonably request in order to carry out the
intent and accomplish the purposes of this Agreement and the consummation of
the transactions contemplated hereby.

 

15.                                 Governing Law. 
This Agreement and the rights and obligations of the parties hereunder
and the Persons subject hereto shall be governed by, and construed 

 

26

 

and interpreted in accordance with, the laws of the
State of Delaware, without giving effect to the choice of law principles
thereof.

 

16.                                 Invalidity of Provision. 
The invalidity or unenforceability of any provision of this Agreement in
any jurisdiction shall not affect the validity or enforceability of the
remainder of this Agreement in that jurisdiction or the validity or enforceability
of this Agreement, including that provision, in any other jurisdiction.

 

17.                                 Waiver.  Waiver by any
party hereto of any breach or default by the other party of any of the terms of
this Agreement shall not operate as a waiver of any other breach or default,
whether similar to or different from the breach or default waived.  No waiver of any provision of this Agreement
shall be implied from any course of dealing between the parties hereto or from
any failure by either party to assert its or his or her rights hereunder on any
occasion or series of occasions.

 

18.                                 Notices.  All notices,
requests, demands, waivers and other communications required or permitted to be
given under this Agreement shall be in writing and shall be deemed to have been
duly given if (a) delivered personally, (b) mailed,
certified or registered mail with postage prepaid, (c) sent by
next-day or overnight mail or delivery or (d) sent by fax, as
follows (or to such other address as the party entitled to notice shall
hereafter designate in accordance with the terms hereof):

 

(i)                                     If to the Company:

 

Global
Geophysical Services, Inc.

3535
Briarpark, Suite 200

Houston
TX 77042

Fax: (713) 979-1560

Attention: Craig Murrin, Esq.

Vice
President, Secretary & General Counsel

 

with a copy (which shall not constitute notice) to:

 

Haynes
and Boone, L.L.P.

1221
McKinney Street, Suite 2100

Houston,
Texas 77010

Fax:
(713) 236-5540

Attention: Bryce D. Linsenmayer, Esq.

 

and
with a copy to Kelso (which shall not constitute notice) at its address set
forth below.

 

(ii)                                  If to a Company Stockholder, to his or
her attention at:

 

27

 

c/o Global Geophysical Services, Inc.

3535 Briarpark, Suite 200

Houston TX 77042

Fax:
(713) 979-1560

 

(iii)                               If to [name
of Outside Stockholder], to it at:

 

[                                              ]

[                                              ]

[                                              ]

Fax:

Attention:

 

(iv)                              If to Kelso, to it at:

 

Kelso &
Company

320
Park Avenue, 24th Floor

New
York, New York 10022

Fax: 
212-223-2379

Attention: 
James Connors, Esq.

Managing
Director & General Counsel

 

All such notices, requests, demands, waivers
and other communications shall be deemed to have been received if by (w) personal
delivery, on the day delivered, (x) certified or registered mail,
on the fifth business day after the mailing thereof, (y) next-day
or overnight mail or delivery, on the day delivered, or (z) fax, on
the day delivered, provided that such delivery is confirmed.

 

19.                                 Headings.  The headings
to sections in this Agreement are for the convenience of the parties only and
shall not control or affect the meaning or construction of any provision
hereof.

 

20.                                 Counterparts. 
This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original but all of which together shall constitute
one and the same instrument.

 

21.                                 Entire Agreement. 
This Agreement, the Stock Subscription Agreement and, in the case of any
affected Company Stockholder, any employment agreement with the Company and any
stock option agreement of the Company applicable to such Company Stockholder,
constitute the entire agreement and understanding of the parties hereto with
respect to the matters referred to herein. 
This Agreement and the agreements referred to in the preceding sentence
supersede all prior agreements and 

 

28

 

understandings among the parties with respect to such
matters.  Without limiting the generality
of the foregoing, this Agreement supersedes all rights and obligations under
any prior investor rights agreement or stockholders agreement.  There are no representations, warranties,
promises, inducements, covenants or undertakings relating to the shares of
Capital Stock other than those expressly set forth or referred to herein or in
the agreements referred to in the first sentence of this Section 21.

 

22.                                 Injunctive Relief. 
The shares of Capital Stock cannot readily be purchased or sold in the
open market, and for that reason, among others, the Company and the
Stockholders will be irreparably damaged in the event this Agreement is not
specifically enforced.  Each of the
parties therefore agrees that in the event of a breach of any provision of this
Agreement, the aggrieved party may elect to institute and prosecute proceedings
in any court of competent jurisdiction to enforce specific performance or to
enjoin the continuing breach of this Agreement. 
Such remedies shall, however, be cumulative and not exclusive, and shall
be in addition to any other remedy which the Company or any Stockholder may
have.  Each Stockholder hereby
irrevocably submits to the non-exclusive jurisdiction of the state and federal
courts in New York for the purposes of any suit, action or other proceeding
arising out of or based upon this Agreement or the subject matter hereof.  Each Stockholder hereby consents to service
of process made in accordance with Section 18.

 

23.                                 Involuntary Transfers.  
Any transfer of title or beneficial ownership of shares of Capital Stock
upon default, foreclosure, forfeit, divorce, court order or otherwise than by a
voluntary decision on the part of a Stockholder (each, an “Involuntary Transfer”)
shall be void unless the Stockholder complies with this Section 23 and
enables the Company to exercise in full its rights hereunder.  Upon any Involuntary Transfer, the Company
shall have the right to purchase such shares pursuant to this Section 23
and the person or entity to whom such shares have been Transferred (the “Involuntary
Transferee”) shall have the obligation to sell such shares in accordance with
this Section 23.  Upon the
Involuntary Transfer of any shares of Capital Stock, such Stockholder shall
promptly (but in no event later than two days after such Involuntary Transfer)
furnish written notice to the Company indicating that the Involuntary Transfer
has occurred, specifying the name of the Involuntary Transferee, giving a
detailed description of the circumstances giving rise to, and stating the legal
basis for, the Involuntary Transfer. 
Upon the receipt of such notice, and for 60 days thereafter, the Company
shall have the right to purchase, and the Involuntary Transferee shall have the
obligation to sell, all (but not less than all) of the shares of Capital Stock
acquired by the Involuntary Transferee for a purchase price equal to the lesser
of (i) the Fair Market Value of such shares of Common Stock , (ii) the
Carrying Value of such shares of Common Stock; provided that the excess, if
any, of the purchase price so determined over the amount of such indebtedness
or other liability that gave rise to the Involuntary Transfer shall be paid
directly to the Stockholder and not to the Involuntary Transferee.

 

29

 

24.                                 Defined Terms. 
As used in this Agreement, the following terms shall have the meanings
ascribed to them below:

 

Affiliate: 
with respect to any Person, (i) any other Person that
directly, or indirectly through one or more intermediaries, controls, is
controlled by or is under common control with, such specified Person, for so
long as such Person remains so associated to the specified Person or (ii) in
the case of a natural Person, any Family of such or any Person that directly,
or indirectly through one or more intermediaries, is controlled by or is under
common control with such Family.

 

Board:  the board of directors of the Company.

 

Capital
Stock:  the Common Stock and the Preferred Stock.

 

Carrying
Value:  with respect to any share of Capital Stock
being purchased by the Company shall be equal to the price paid by the selling
Stockholder for any such share less the amount of dividends and other
distributions paid in respect of such share.

 

Closing: 
the “Closing” shall mean the closing of the “First Subscription” by
Kelso under the terms of the Subscription Agreement.

 

Commission:  the Securities and Exchange Commission.

 

Common
Stock:  the Class A Common Stock of the Company,
par value $.01 per share and the Class B Common Stock of the Company, par
value $.01 per share.

 

Company
Sale:  a sale, conveyance or other disposition of
the Company, whether by merger, consolidation, sale of all or substantially all
of the Company’s assets or sale of capital stock, including any issuance or
transfer of Capital Stock of the Company to any Person.

 

Company
Sale Process:  a process reasonably designed to solicit for
the benefit of the Company and all of its stockholders offers from third
parties who wish to acquire the Company or its assets in a transaction that
would constitute a Company Sale, it being understood that, notwithstanding
anything herein to the contrary, such process shall include the engagement of
investment bankers or other financial advisors and the provision of access to
personnel and information in a manner that is customary for such transactions.

 

Eligible
Stockholder:  Any Stockholder that holds, collectively with
its Affiliates, more than 50,000 shares of Capital Stock.

 

30

 

Excluded
Shares:  “Exempted Securities” as defined in the
Certificate of Designation.

 

Fair
Market Value:  with respect to any share of Capital Stock
means (i) the fair market value of the entire Capital Stock equity
interest of the Company taken as a whole, without additional premiums for
control or discounts for minority interests or restrictions on transfer,
divided by (ii) the number of outstanding shares of Capital Stock,
calculated on a fully-diluted basis, as determined by the most recent appraisal
conducted by the Company with respect to its equity, provided that if such most
recent appraisal is more than a year old, as determined by an independent
appraiser that will be retained by the Company for this purpose.

 

Family: 
with respect to any natural Person, his or her spouse, siblings and
lineal descendants and ascendants, such siblings’ lineal descendants and lineal
ascendants, such siblings’ lineal descendants’ and lineal ascendants’
respective spouses, any estate planning vehicle solely for such Persons.

 

IPO: 
a “Qualified Public Offering” as defined in the Certificate of
Designation.

 

Material
Event Notice:  a certificate signed by the President of the
Company stating that the Company has pending or in process as of the date of
such certificate a material transaction (including, but not limited to, a
financing transaction), the disclosure of which would, in the good faith
judgment of the Board, materially and adversely affect the Company.

 

Person: 
an individual, corporation, partnership, limited liability company,
joint venture, association, trust or other entity or organization, including a
government or political subdivision or an agency or instrumentality thereof.

 

Preferred
Stock:  the Series A Convertible Preferred
Stock, par value $.01 per share.

 

Registrable Securities:  the shares of Capital Stock
beneficially owned (within the meaning of Rule 13d-3 of the Exchange Act)
by the Stockholders, except, for any shares of Capital Stock beneficially
owned by a Company Stockholder that (i) were issued to such Company
Stockholder pursuant to an effective registration statement under the
Securities Act on Form S-8 or (ii) may be sold by such Company
Stockholder pursuant to Rule 144(k) under the Securities Act.  As to any particular shares of Capital Stock,
such securities shall cease to be Registrable Securities when (i) a
registration statement with respect to the sale of such securities shall have
become effective under the Securities Act and such securities shall have been
disposed of in accordance with such registration statement, (ii) a
registration statement on Form S-8 with respect to the sale of 

 

31

 

such
securities shall have become effective under the Securities Act, (iii) they
shall have been sold to the public pursuant to Rule 144 under the
Securities Act, (iv) they shall have been otherwise transferred and
subsequent disposition of them shall not require registration or qualification
of them under the Securities Act or any similar state law then in force or (v) they
shall have ceased to be outstanding.  Any
and all shares of Capital Stock which may be issued in respect of, in exchange
for, or in substitution for any Registrable Securities, whether by reason of
any stock split, stock dividend, reverse stock split, recapitalization,
combination or otherwise, shall also be “Registrable Securities” hereunder.

 

Registration: 
the closing of a public offering pursuant to an effective registration
statement under the Securities Act.

 

Securities
Act:  the Securities Act of 1933, as amended, or
any successor federal statute, and the rules and regulations thereunder
which shall be in effect at the time.

 

Subscription
Agreement:  the Subscription Agreement, dated as of November 21,
2006 by and among KIA, KEP and the Company.

 

Subsidiary: 
any corporation a majority of whose outstanding voting securities is
owned, directly or indirectly, by the Company.

 

Third
Party Investor:  any Person other than an Affiliate of Kelso.

 

Transfer: 
any direct or indirect sale, assignment, mortgage, transfer, pledge,
hypothecation or other disposal.

 

32

 

IN
WITNESS WHEREOF this Agreement has been signed by each of the parties hereto,
and shall be effective as of the date first above written.

 

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  GLOBAL GEOPHYSICAL SERVICES,
  INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  KELSO:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  KELSO INVESTMENT ASSOCIATES VI,
  L.P.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Kelso GP VI, LLC.,

  
	
   

  	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title: Managing Member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  KEP VI, LLC

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
   

  	
  Title: Managing Member

  

 

33

 

	
   

  	
  NON-KELSO STOCKHOLDERS:

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  COMPANY STOCKHOLDERS:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Duncan W.
  Riley, Jr.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Heidi Brown

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  John Degner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Larry Doudna

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Maurice Flynn

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Oscar Ortega

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Richard A. Degner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Thomas J. Fleure

  
					

 

34

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Vlad Vanovac

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  William Parker

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Craig A. Lindberg

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Craig M. Murrin

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Edward Newberry

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Jeff Howell

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  John Schneider

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Kirk Girouard

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Robin Guscette

  

 

35

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Terry Sadler

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Steve Hammond

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  OUTSIDE STOCKHOLDERS:

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Alan Smith

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Alta Jacobs

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  THE ARVIND SANGER
  TWO-YEAR (GLOBAL GEOPHYSICAL SERVICES, INC.) ANNUITY TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Arvind Sanger,
  Trustee

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  ASLAN CAPITAL MASTER
  FUND, LP

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  CCR FAMILY TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name: Charles Ramsey,
  Trustee

  

 

36

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Charles G.Lindberg

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Clive Richards

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Cordelia Degner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Damir S. Skerl

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Dan Scheffer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Darren Gosda

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Donalda Cochrane

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  ECLETO PARTNERS, L.P.
  by

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  ECLETO PARTNERS
  MANAGEMENT, L.L.C.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  John Russell, Member
  and Manager

  

 

37

 

	
   

  	
   

  	
   

  	
  ENTEX PARTNERS

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Gary Weiss

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  GREG SMITH TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Trustee:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Heidi Brown

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Jerry Houlton

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Jim Copp

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Jim Henning

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Jim Payne

  

 

38

 

	
   

  	
   

  	
   

  	
  JIM PAYNE GRANDCHILDREN
  TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Jim Payne, Trustee

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  J&K EQUITY
  PARTNERS LP

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Joanne Seale Wilson

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  James Drummond

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Joe Chatoor

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  John Houlton

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Jorge Estrada M.

  

 

39

 

	
   

  	
   

  	
   

  	
  JR RUSSELL II
  TRUST OF 2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  John R. Russell,
  Trustee

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Judy O’Donnell

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Jun Lu

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Ken Juncker

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Kurt Griskonis

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Larry Doudna

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Margaret English

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Mark Magness

  

 

40

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Maurice Flynn

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Michael Copp

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Mike Forrest

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  NEEB TRUST

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Randy
  Newcomber, Jr.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  NU DIVERSE LP

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Oscar T
  Ortgega, Sr.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Pamela Kelly

  

 

41

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Peter Knox

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Randy Newcomer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Ron Crooner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Ross Fruin

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Ross MacDonald

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Ross Sandul

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Scott Brown

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Shirley Brown

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Steve Falko

  

 

42

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Steve Magnani

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Steve Primeau

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  THERESA FOSSIER TRUST
  OF 2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Tom Fleure

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Vernon Dovich

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Vlad Vanovac

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Walter Wilson

  

 

43

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Yanping Zhang

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  NANCY WILSON
  FAMILY TRUST

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Walter Wilson,
  Trustee

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Joane Seale
  Wilson

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  WAYZATA
  INVESTMENT PARTNERS LLC

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  Blake M. Carlson,
  Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  TREATY
  OAK ACORN FUND, LP

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  TREATY OAK IRONWOOD,
  LTD.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  

 

44

 

	
   

  	
   

  	
   

  	
  TREATY OAK
  MASTER FUND, LP

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  

 

45

 

Company
and Outside Stockholders as of November 30, 2006

 

Schedule
A

 

	
  Company
  Stockholders

  	
   

  	
  Addresses

  	
   

  	
  City

  	
   

  	
  State

  	
   

  	
  Postal Code

  	
   

  	
  Province

  	
   

  	
  Country

  
	
  Duncan Riley

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  Heidi Brown

  	
   

  	
  3535 Briarpark Dr., Ste.
  200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  John Degner

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  Larry Doudna

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  Maurice Flynn

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  Richard Degner

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  Tin Fleure

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  Vlad Vanovac

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  William Parker

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  Craig A. Lindberg

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  Craig M. Murrin

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  Edward Newberry

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  

 

 

	
  Company
  Stockholders

  	
   

  	
  Addresses

  	
   

  	
  City

  	
   

  	
  State

  	
   

  	
  Postal Code

  	
   

  	
  Province

  	
   

  	
  Country

  
	
  Jeff Howell

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  John Schneider

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  Kirk Girouard

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  Robin Guscette

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  Terry Sadler

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
  Steve Hammond

  	
   

  	
  3535 Briarpark Dr.,
  Ste. 200

  	
   

  	
  Houston

  	
   

  	
  Texas

  	
   

  	
  77042

  	
   

  	
   

  	
   

  	
  USA

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Schedule B

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Outside Stockholders

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Alan Smith

  	
   

  	
  777 Walker St., Ste.
  2530

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77002

  	
   

  	
   

  	
   

  	
   

  
	
  Atla Jacobs

  	
   

  	
  4021 Willow View Drive

  	
   

  	
  Lake in the Hills

  	
   

  	
  IL

  	
   

  	
  60156-4676

  	
   

  	
   

  	
   

  	
   

  
	
  The Arvind Sanger Two
  Year (Global Geophysical Services, Inc.) Annuity Trust

  	
   

  	
  540 Madison Ave., 8th Fl.

  	
   

  	
  New York

  	
   

  	
  NY

  	
   

  	
  10022

  	
   

  	
   

  	
   

  	
   

  
	
  Asian Capital
  Master Fund, LP

  	
   

  	
  375 Park Avenue,
  Ste. 1903

  	
   

  	
  New York

  	
   

  	
  NY

  	
   

  	
  10152

  	
   

  	
   

  	
   

  	
   

  
	
  CCR Family Trust
  (Charles Ramsey)

  	
   

  	
  3374 Plantation Point

  	
   

  	
  Athens

  	
   

  	
  TX

  	
   

  	
  75752

  	
   

  	
   

  	
   

  	
   

  
	
  Charles Lindberg

  	
   

  	
  RR3, Box 763

  	
   

  	
  Crockett

  	
   

  	
  TX

  	
   

  	
  75835

  	
   

  	
   

  	
   

  	
   

  
	
  Clive Richards

  	
   

  	
  40 Great James Street

  	
   

  	
  London

  	
   

  	
   

  	
   

  	
  WC1N 3HB

  	
   

  	
   

  	
   

  	
  England

  

 

 

	
  Company
  Stockholders

  	
   

  	
  Addresses

  	
   

  	
  City

  	
   

  	
  State

  	
   

  	
  Postal Code

  	
   

  	
  Province

  	
   

  	
  Country

  
	
  Cordelia Degner

  	
   

  	
  142 Windvane Ln.

  	
   

  	
  Carlsbad

  	
   

  	
  CA

  	
   

  	
  92011

  	
   

  	
   

  	
   

  	
   

  
	
  Damir Sken

  	
   

  	
  702 Last Arrow

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77079

  	
   

  	
   

  	
   

  	
   

  
	
  Dan Scheffer

  	
   

  	
  3727 Georgetown St.

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77005

  	
   

  	
   

  	
   

  	
   

  
	
  Darren Gosda

  	
   

  	
  2922 Shirewood Lane

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77082

  	
   

  	
   

  	
   

  	
   

  
	
  Donalda Cochrane

  	
   

  	
  Site #1, RR#1, Comp 6

  	
   

  	
  Fort St. John

  	
   

  	
   

  	
   

  	
  V1J 4M6

  	
   

  	
  B.C.

  	
   

  	
  Canada

  
	
  Ecleto Partners (John
  Russell)

  	
   

  	
  13537 FM 887

  	
   

  	
  Gillett

  	
   

  	
  TX

  	
   

  	
  78116

  	
   

  	
   

  	
   

  	
   

  
	
  Entex Partners

  	
   

  	
  4755 Alpine Dr., Ste.
  100

  	
   

  	
  Stafford

  	
   

  	
  TX

  	
   

  	
  77477

  	
   

  	
   

  	
   

  	
   

  
	
  Gary Weiss

  	
   

  	
  4755 Alpine Dr., Ste.
  100

  	
   

  	
  Stafford

  	
   

  	
  TX

  	
   

  	
  77477

  	
   

  	
   

  	
   

  	
   

  
	
  Greg Smith Trust

  	
   

  	
  2615 Fairfield St

  	
   

  	
  San Diego

  	
   

  	
  CA

  	
   

  	
  92110

  	
   

  	
   

  	
   

  	
   

  
	
  Jerry Houlton

  	
   

  	
  5370 62nd Ave. S.

  	
   

  	
  St. Petersburg

  	
   

  	
  FL

  	
   

  	
  33715

  	
   

  	
   

  	
   

  	
   

  
	
  Robert (Jim) Copp

  	
   

  	
  1414 Arbor Court

  	
   

  	
  Leucadia

  	
   

  	
  CA

  	
   

  	
  92024

  	
   

  	
   

  	
   

  	
   

  
	
  Jim Hennig

  	
   

  	
  19217 Beck Rd.

  	
   

  	
  Union

  	
   

  	
  IL

  	
   

  	
  60180

  	
   

  	
   

  	
   

  	
   

  
	
  Jim Payne

  	
   

  	
  31 Pinewold Circle

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77056

  	
   

  	
   

  	
   

  	
   

  
	
  Payne 2004
  Grandchildren Trust

  	
   

  	
  17303 E. Single Rose
  Ct.

  	
   

  	
  Cypress

  	
   

  	
  TX

  	
   

  	
  77429

  	
   

  	
   

  	
   

  	
   

  
	
  J&K Equity Partners
  LP

  	
   

  	
  18 Storm Mist Place

  	
   

  	
  The Woodlands

  	
   

  	
  TX

  	
   

  	
  77381

  	
   

  	
   

  	
   

  	
   

  
	
  Joanne Seale Wilson

  	
   

  	
  2225 Devonshire

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77019

  	
   

  	
   

  	
   

  	
   

  
	
  James Drummond

  	
   

  	
  320 Branard

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77006

  	
   

  	
   

  	
   

  	
   

  
	
  Joe Chatoor

  	
   

  	
  18 Goodwood Ridge,
  Goodwood Park, St. James Place

  	
   

  	
  Port of Spain

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Trinidad

  
	
  John Houlton

  	
   

  	
  2490 Pinellas Pt.
  Dr. S.

  	
   

  	
  St. Petersburg

  	
   

  	
  FL

  	
   

  	
  33712

  	
   

  	
   

  	
   

  	
   

  
	
  Jorge Estrada

  	
   

  	
  Marcelo T. Alvear 636 6th Fl.

  	
   

  	
  Buenos Aries

  	
   

  	
   

  	
   

  	
  1058

  	
   

  	
   

  	
   

  	
  Argentina

  
	
  JR Russell II Trust of
  2006

  	
   

  	
  13537 FM 887

  	
   

  	
  Gillett

  	
   

  	
  TX

  	
   

  	
  78116

  	
   

  	
   

  	
   

  	
   

  
	
  Judy O’Donnell

  	
   

  	
  AM Kohlerwald 18

  	
   

  	
  Otterberg

  	
   

  	
   

  	
   

  	
  67697

  	
   

  	
   

  	
   

  	
  Germany

  
	
  Jun Lu

  	
   

  	
  2320 Stanley Ave.

  	
   

  	
  Signal Hill

  	
   

  	
  CA

  	
   

  	
  90755

  	
   

  	
   

  	
   

  	
   

  

 

 

	
  Company
  Stockholders

  	
   

  	
  Addresses

  	
   

  	
  City

  	
   

  	
  State

  	
   

  	
  Postal Code

  	
   

  	
  Province

  	
   

  	
  Country

  
	
  Ken Juncker

  	
   

  	
  631 Locust Street

  	
   

  	
  Vernon

  	
   

  	
  IN

  	
   

  	
  47620

  	
   

  	
   

  	
   

  	
   

  
	
  Kurt Griskonis

  	
   

  	
  11517 Westview Parkway

  	
   

  	
  San Diego

  	
   

  	
  CA

  	
   

  	
  92126

  	
   

  	
   

  	
   

  	
   

  
	
  Margaret English

  	
   

  	
  1825 Carolyn Dr.

  	
   

  	
  Chula Vista

  	
   

  	
  CA

  	
   

  	
  91913-2636

  	
   

  	
   

  	
   

  	
   

  
	
  Mark Magness

  	
   

  	
  6212 Doliver

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77057

  	
   

  	
   

  	
   

  	
   

  
	
  Michael Copp

  	
   

  	
  649 Margarita Ave.
  (619) 435-3185

  	
   

  	
  Coronado

  	
   

  	
  CA

  	
   

  	
  92118-2320

  	
   

  	
   

  	
   

  	
   

  
	
  Mike Forrest

  	
   

  	
  6115 Waggoner Dr.

  	
   

  	
  Dallas

  	
   

  	
  TX

  	
   

  	
  75230

  	
   

  	
   

  	
   

  	
   

  
	
  Neeb Trust

  	
   

  	
  100 Friendly Circle

  	
   

  	
  Georgetown

  	
   

  	
  TX

  	
   

  	
  78628

  	
   

  	
   

  	
   

  	
   

  
	
  NU Diverse LP

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Oscar Ortega

  	
   

  	
  1915 Deaf Smith

  	
   

  	
  Richmond

  	
   

  	
  TX

  	
   

  	
  77469

  	
   

  	
   

  	
   

  	
   

  
	
  Pamela Kelly

  	
   

  	
  12710 Kingsride Lane

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77024

  	
   

  	
   

  	
   

  	
   

  
	
  Peter Knox

  	
   

  	
  7 St. Jude Close

  	
   

  	
  Englefield Green

  	
   

  	
   

  	
   

  	
  TW20, ODE

  	
   

  	
  Surrey

  	
   

  	
  England

  
	
  Randy
  Newcomer, Jr.

  	
   

  	
  One Allen Center, 500
  Dallas St., Ste 2835

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77002

  	
   

  	
   

  	
   

  	
   

  
	
  Ron Crooner (Attn:
  Mohini Cooner)

  	
   

  	
  8574 Hunters Creek Dr.,
  N.

  	
   

  	
  Jacksonville

  	
   

  	
  FL

  	
   

  	
  32265

  	
   

  	
   

  	
   

  	
   

  
	
  Ross Fruin

  	
   

  	
  14015 Hemmingsen Rd.

  	
   

  	
  Huntley

  	
   

  	
  IL

  	
   

  	
  60142

  	
   

  	
   

  	
   

  	
   

  
	
  Ross MacDonald

  	
   

  	
  1309 Marshall

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77006

  	
   

  	
   

  	
   

  	
   

  
	
  Ross Sandul

  	
   

  	
  10953 Caminito Tierra

  	
   

  	
  San Diego

  	
   

  	
  CA

  	
   

  	
  92131

  	
   

  	
   

  	
   

  	
   

  
	
  Scott Brown

  	
   

  	
  11 Wild Oak Circle

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77005

  	
   

  	
   

  	
   

  	
   

  
	
  Shirley Brown

  	
   

  	
  Box 262

  	
   

  	
  Grand Prairie

  	
   

  	
   

  	
   

  	
  T8V 3V4

  	
   

  	
  Alberta

  	
   

  	
  Canada

  
	
  Steve Fialko

  	
   

  	
  1825 Carolyn Dr.

  	
   

  	
  Chula Vista

  	
   

  	
  CA

  	
   

  	
  91913-2636

  	
   

  	
   

  	
   

  	
   

  
	
  Steve Magnani

  	
   

  	
  366 Grapevine Rd.

  	
   

  	
  Vista

  	
   

  	
  CA

  	
   

  	
  92083

  	
   

  	
   

  	
   

  	
   

  
	
  Steve Primeau

  	
   

  	
  114 Waterford Way

  	
   

  	
  The Woodlands

  	
   

  	
  TX

  	
   

  	
  77356

  	
   

  	
   

  	
   

  	
   

  
	
  Theresa Fossier Trust
  of 2006

  	
   

  	
  3117 Rocky Mountain Dr.

  	
   

  	
  Plana

  	
   

  	
  TX

  	
   

  	
  75025

  	
   

  	
   

  	
   

  	
   

  
	
  Treaty Oak Capital
  Master Fund, LP

  	
   

  	
  301 Congress Ave., Ste.
  520

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  78701

  	
   

  	
   

  	
   

  	
   

  

 

 

	
  Company
  Stockholders

  	
   

  	
  Addresses

  	
   

  	
  City

  	
   

  	
  State

  	
   

  	
  Postal Code

  	
   

  	
  Province

  	
   

  	
  Country

  
	
  Treaty Oak Acom Fund,
  LP

  	
   

  	
  301 Congress Ave., Ste.
  520

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  78701

  	
   

  	
   

  	
   

  	
   

  
	
  Treaty Oak Ironwood,
  Ltd.

  	
   

  	
  301 Congress Ave., Ste.
  520

  	
   

  	
  Austin

  	
   

  	
  TX

  	
   

  	
  78701

  	
   

  	
   

  	
   

  	
   

  
	
  Vernon Dovich

  	
   

  	
  13559 Vista Sage Lane

  	
   

  	
  Jamul

  	
   

  	
  CA

  	
   

  	
  91935-3023

  	
   

  	
   

  	
   

  	
   

  
	
  Nancy Wilson Family
  Trust

  	
   

  	
  2001 Kirby Dr., Ste.
  1107

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77019-6033

  	
   

  	
   

  	
   

  	
   

  
	
  Walter Wilson

  	
   

  	
  2001 Kirby Dr., Ste.
  1107

  	
   

  	
  Houston

  	
   

  	
  TX

  	
   

  	
  77019-6033

  	
   

  	
   

  	
   

  	
   

  
	
  Wayzata Opportunities

  	
   

  	
  701 East Lake Street

  	
   

  	
  Wayzata

  	
   

  	
  MN

  	
   

  	
  55391

  	
   

  	
   

  	
   

  	
   

  
	
  Yanping Zhang

  	
   

  	
  8528 Galway place

  	
   

  	
  San Diego

  	
   

  	
  CA

  	
   

  	
  92129

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00167-of-00352.parquet"}]]